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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Apr. 02, 2022
Apr. 03, 2021
Cash flows from operating activities:    
Net income $ 205 $ 228
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 52 44
Share-based compensation 17 16
Deferred income taxes (37) (2)
Unrealized gain on forward interest rate swaps (38) (12)
Other, net (1) (1)
Changes in operating assets and liabilities:    
Accounts receivable, net (56) (15)
Inventories, net 22 (17)
Other assets (19) (18)
Accounts payable (14) (30)
Accrued liabilities (143) (47)
Deferred revenue 18 50
Income taxes 51 28
Other operating activities (3) 0
Net cash provided by operating activities 54 224
Cash flows from investing activities:    
Purchases of property, plant and equipment (14) (10)
Purchases of long-term investments (5) (13)
Net cash used in investing activities (19) (23)
Cash flows from financing activities:    
Payments of long-term debt (25) (156)
Proceeds from issuance of long-term debt 130 0
Payments for repurchases of common stock (305) 0
Net proceeds (payments) related to share-based compensation plans 5 (6)
Change in unremitted cash collections from servicing factored receivables (25) (19)
Net cash used in financing activities (220) (181)
Effect of exchange rate changes on cash and cash equivalents, including restricted cash (2) (2)
Net (decrease) increase in cash and cash equivalents, including restricted cash (187) 18
Cash and cash equivalents, including restricted cash, at beginning of period 344 192
Cash and cash equivalents, including restricted cash, at end of period 157 210
Less restricted cash, included in Prepaid expenses and other current assets (16) (33)
Cash and cash equivalents at end of period 141 177
Supplemental disclosures of cash flow information:    
Income taxes paid 29 22
Interest paid $ 8 $ 9