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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 24, 2022
Sep. 25, 2021
Cash flows from operating activities:    
Net income $ 149 $ 66
Income (loss) from discontinued operations, net of tax 7 (89)
Net income from continuing operations 142 155
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 100 110
Charges for losses on receivables and inventories 15 17
Asset impairments 8 18
Gain on disposition of assets, net (4) (3)
Compensation expense for share-based payments 31 26
Deferred income taxes and deferred tax asset valuation allowances 33 5
Changes in working capital and other operating activities (246) (72)
Net cash provided by operating activities of continuing operations 79 256
Net cash used in operating activities of discontinued operations   (10)
Net cash provided by operating activities 79 246
Cash flows from investing activities:    
Capital expenditures (68) (47)
Businesses acquired, net of cash acquired   (29)
Proceeds from disposition of assets 6 4
Settlement of company-owned life insurance policies 3 21
Net cash used in investing activities of continuing operations (59) (51)
Net cash provided by (used in) investing activities of discontinued operations 74 (3)
Net cash provided by (used in) investing activities 15 (54)
Cash flows from financing activities:    
Net payments on long and short-term borrowings (16) (20)
Debt retirement (43)  
Share purchases for taxes, net of proceeds from employee share-based transactions (19) (25)
Repurchase of common stock for treasury (69) (122)
Other financing activities (4) (1)
Net cash used in financing activities of continuing operations (151) (168)
Effect of exchange rate changes on cash and cash equivalents (6)  
Net increase (decrease) in cash, cash equivalents and restricted cash (63) 24
Cash and cash equivalents at beginning of period 537 729
Cash, cash equivalents and restricted cash at end of period – continuing operations 474 753
Supplemental information on non-cash investing and financing activities    
Right-of-use assets obtained in exchange for new finance lease liabilities 2 3
Right-of-use assets obtained in exchange for new operating lease liabilities 171 69
Business acquired in exchange for common stock issuance   $ 35
Other current receivable obtained from disposition of discontinued operations 30  
Promissory note receivable obtained from disposition of discontinued operations 55  
Earn-out receivable obtained from disposition of discontinued operations 9  
Transfer from additional paid-in capital to treasury stock for final settlement of the accelerated share repurchase agreement $ 29