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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Apr. 01, 2023
Apr. 02, 2022
Cash flows from operating activities:    
Net income $ 150 $ 205
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 44 52
Share-based compensation 18 17
Deferred income taxes (20) (37)
Unrealized loss (gain) on forward interest rate swaps 13 (38)
Other, net 2 (1)
Changes in operating assets and liabilities:    
Accounts receivable, net 33 (56)
Inventories, net 26 22
Other assets (27) (19)
Accounts payable (212) (14)
Accrued liabilities (82) (143)
Deferred revenue 22 18
Income taxes 5 51
Settlement liability (45) 0
Other operating activities (3) (3)
Net cash (used in) provided by operating activities (76) 54
Cash flows from investing activities:    
Purchases of property, plant and equipment (16) (14)
Purchases of long-term investments (1) (5)
Net cash used in investing activities (17) (19)
Cash flows from financing activities:    
Payments of long-term debt (119) (25)
Proceeds from issuance of long-term debt 191 130
Payments for repurchases of common stock (15) (305)
Net proceeds related to share-based compensation plans 5 5
Change in unremitted cash collections from servicing factored receivables 8 (25)
Net cash provided by (used in) financing activities 70 (220)
Effect of exchange rate changes on cash and cash equivalents, including restricted cash (1) (2)
Net decrease in cash and cash equivalents, including restricted cash (24) (187)
Cash and cash equivalents, including restricted cash, at beginning of period 117 344
Cash and cash equivalents, including restricted cash, at end of period 93 157
Less restricted cash, included in Prepaid expenses and other current assets (8) (16)
Cash and cash equivalents at end of period 85 141
Supplemental disclosures of cash flow information:    
Income taxes paid 54 29
Interest paid $ 24 $ 8