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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jul. 02, 2022
Jul. 03, 2021
Cash flows from operating activities:    
Net income $ 107 $ 447
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 103 88
Share-based compensation 42 38
Deferred income taxes (124) (5)
Unrealized gain on forward interest rate swaps (52) (13)
Other, net 3 1
Changes in operating assets and liabilities:    
Accounts receivable, net (170) (59)
Inventories, net (108) 26
Other assets (52) (22)
Accounts payable 121 (10)
Accrued liabilities (77) 2
Deferred revenue 34 67
Income taxes (9) (23)
Settlement and related costs, net 320 0
Other operating activities 16 2
Net cash provided by operating activities 154 539
Cash flows from investing activities:    
Acquisition of businesses, net of cash acquired (875) (17)
Purchases of property, plant and equipment (31) (25)
Purchases of long-term investments (6) (17)
Net cash used in investing activities (912) (59)
Cash flows from financing activities:    
Payment of debt issuance costs, extinguishment costs and discounts (8) 0
Payments of long-term debt (119) (264)
Proceeds from issuance of long-term debt 1,294 8
Payments for repurchases of common stock (605) (25)
Net payments related to share-based compensation plans (16) (46)
Change in unremitted cash collections from servicing factored receivables (28) (2)
Net cash provided by (used in) financing activities 518 (329)
Effect of exchange rate changes on cash and cash equivalents, including restricted cash (6) (4)
Net (decrease) increase in cash and cash equivalents, including restricted cash (246) 147
Cash and cash equivalents, including restricted cash, at beginning of period 344 192
Cash and cash equivalents, including restricted cash, at end of period 98 339
Less restricted cash, included in Prepaid expenses and other current assets 0 (21)
Cash and cash equivalents at end of period 98 318
Supplemental disclosures of cash flow information:    
Income taxes paid 120 94
Interest paid $ 15 $ 17