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CONSOLDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Apr. 03, 2021
Mar. 28, 2020
Cash flows from operating activities:    
Net income $ 228 $ 89
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 44 34
Share-based compensation 16 7
Deferred income taxes (2) (2)
Unrealized (gain) loss on forward interest rate swaps (12) 34
Other, net (1) 0
Changes in operating assets and liabilities:    
Accounts receivable, net (15) 108
Inventories, net (17) 33
Other assets (18) (4)
Accounts payable (30) (109)
Accrued liabilities (47) (87)
Deferred revenue 50 19
Income taxes 28 (16)
Other operating activities 0 2
Net cash provided by operating activities 224 108
Cash flows from investing activities:    
Purchases of property, plant and equipment (10) (13)
Purchases of long-term investments (13) (2)
Net cash used in investing activities (23) (15)
Cash flows from financing activities:    
Payments of long-term debt (156) (36)
Proceeds from issuance of long-term debt 0 157
Payments for repurchases of common stock 0 (200)
Net payments related to share-based compensation plans (6) (1)
Change in unremitted cash collections from servicing factored receivables (19) (22)
Other financing activities 0 4
Net cash used in financing activities (181) (98)
Effect of exchange rate changes on cash and cash equivalents, including restricted cash (2) (1)
Net increase (decrease) in cash and cash equivalents, including restricted cash 18 (6)
Cash and cash equivalents, including restricted cash, at beginning of period 192 30
Cash and cash equivalents, including restricted cash, at end of period 210 24
Less restricted cash, included in Prepaid expenses and other current assets (33) 0
Cash and cash equivalents 177 24
Supplemental disclosures of cash flow information:    
Income taxes paid 22 30
Interest paid $ 9 $ 9