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Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Oct. 02, 2021
Sep. 26, 2020
Operating activities    
Net income $ 1,061 $ 1,056
Adjustments to reconcile net income to operating cash flows:    
Depreciation and amortization 346 355
Postretirement benefit plan expense (benefit) (112) (113)
Deferred income taxes 4 57
Stock compensation 50 55
Multi-employer pension plan exit liability 0 (5)
Other (29) (34)
Postretirement benefit plan contributions (15) (19)
Changes in operating assets and liabilities, net of acquisitions:    
Trade receivables (196) (113)
Inventories (103) (57)
Accounts payable 198 108
All other current assets and liabilities (59) 303
Net cash provided by (used in) operating activities 1,145 1,593
Investing activities    
Additions to properties (408) (326)
Issuance of notes receivable (29) (19)
Repayments of notes receivable 28 6
Purchase of marketable securities 0 (250)
Investments in unconsolidated entities (10) 0
Purchases of available for sale securities (56) (75)
Sales of available for sale securities 69 13
Other 21 2
Net cash provided by (used in) investing activities (385) (649)
Financing activities    
Net issuances (reductions) of notes payable 343 9
Issuances of long-term debt 361 554
Reductions of long-term debt (646) (45)
Net issuances of common stock 50 105
Common stock repurchases (240) 0
Cash dividends (590) (586)
Other (18) (16)
Net cash provided by (used in) financing activities (740) 21
Effect of exchange rate changes on cash and cash equivalents (15) (33)
Increase (decrease) in cash and cash equivalents 5 932
Cash and cash equivalents at beginning of period 435 397
Cash and cash equivalents at end of period 440 1,329
Supplemental cash flow disclosures of non-cash investing activities    
Additions to properties included in accounts payable $ 91 $ 108