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Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Apr. 03, 2021
Mar. 28, 2020
Operating activities    
Net income $ 371 $ 350
Adjustments to reconcile net income to operating cash flows:    
Depreciation and amortization 112 117
Postretirement benefit plan expense (benefit) (68) (39)
Deferred income taxes 17 8
Stock compensation 20 19
Other 13 (11)
Postretirement benefit plan contributions (2) (6)
Changes in operating assets and liabilities, net of acquisitions:    
Trade receivables (155) (194)
Inventories (50) 1
Accounts payable 118 44
All other current assets and liabilities (141) 102
Net cash provided by (used in) operating activities 235 391
Investing activities    
Additions to properties (173) (112)
Issuance of notes receivable (20) (18)
Repayments of notes receivable 28 0
Investments in unconsolidated entities (10) 0
Acquisition of cost method investments 0 (3)
Purchases of available for sale securities (2) (65)
Sales of available for sale securities 5 5
Other (17) (9)
Net cash provided by (used in) investing activities (189) (202)
Financing activities    
Net issuances (reductions) of notes payable 326 549
Reductions of long-term debt (4) (3)
Net issuances of common stock 18 46
Common stock repurchases (240) 0
Cash dividends (195) (195)
Collateral received on derivative instruments 0 80
Net cash provided by (used in) financing activities (95) 477
Effect of exchange rate changes on cash and cash equivalents 5 (47)
Increase (decrease) in cash and cash equivalents (44) 619
Cash and cash equivalents at beginning of period 435 397
Cash and cash equivalents at end of period 391 1,016
Supplemental cash flow disclosures of non-cash investing activities    
Additions to properties included in accounts payable $ 97 $ 87