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Consolidated Statements of Cash Flows
$ in Thousands
12 Months Ended
Jan. 01, 2022
USD ($)
Jan. 02, 2021
USD ($)
Dec. 28, 2019
USD ($)
Operating Activities:      
Net earnings from continuing operations $ 1,598,600 $ 1,185,900 $ 956,400
Net earnings from discontinued operations 88,900 48,800 1,600
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation and amortization of property, plant and equipment 374,000 376,500 372,800
Amortization of intangibles 203,100 201,600 187,400
Inventory step-up amortization 20,700 29,000 7,400
Loss (gain) on sales of businesses 600 13,500 (17,000)
Gain on equity method investment (68,000) 0 0
Loss on debt extinguishments 0 46,900 17,900
Craftsman contingent consideration remeasurement 101,100 0 0
Stock-based compensation expense 118,300 109,100 88,800
Provision for credit losses 18,700 41,100 33,000
Share of net (earnings) losses of equity method investment (19,000) (9,100) 11,200
Deferred tax (benefit) expense (386,900) (241,700) (17,900)
Other non-cash items 27,700 44,700 (13,800)
Changes in operating assets and liabilities:      
Accounts receivable (280,600) (39,600) 137,800
Inventories (1,970,400) (401,500) 137,700
Accounts payable 758,300 310,400 (169,100)
Deferred revenue 1,900 (300) 8,500
Other current assets (166,800) (100,200) (183,600)
Other long-term assets (438,800) (14,000) (37,300)
Accrued expenses 444,000 381,700 123,600
Defined benefit liabilities (40,000) (40,200) (47,600)
Other long-term liabilities 277,700 79,500 (92,100)
Net cash provided by operating activities 663,100 2,022,100 1,505,700
Investing Activities:      
Capital and software expenditures (519,100) (348,100) (424,700)
Sales of assets 8,400 19,900 100,100
Business acquisitions, net of cash acquired (2,043,800) (1,324,400) (685,400)
Sales of businesses, net of cash sold 5,300 59,100 76,600
Purchases of investments (15,400) (18,700) (260,600)
Net investment hedge settlements (55,100) 41,000 8,000
Other (4,100) (5,900) (22,600)
Net cash used in investing activities (2,623,800) (1,577,100) (1,208,600)
Financing Activities:      
Payments on long-term debt (1,500) (1,154,300) (1,150,000)
Proceeds from debt issuances, net of fees 0 2,222,500 496,200
Net short-term borrowings (repayments) 2,224,600 (342,600) (18,100)
Stock purchase contract fees (39,400) (59,800) (40,300)
Purchases of common stock for treasury (34,300) (26,200) (27,500)
Proceeds from issuance of 2019 Equity Units 0 0 735,000
Premium paid on equity options 0 0 (19,200)
Proceeds from issuance of remarketed preferred stock 0 750,000 0
Premium paid on debt extinguishment 0 (48,700) 0
Proceeds from issuances of common stock 131,400 147,000 146,000
Payments for repurchase of preferred stock and preference stock (750,000) 0 0
Craftsman deferred purchase price 0 (250,000) 0
Termination of interest rate swaps (75,300) (20,500) (1,000)
Cash dividends on common stock (474,800) (431,800) (402,000)
Cash dividends on preferred stock (18,900) (18,800) 0
Other (13,800) (10,600) (11,600)
Net cash provided by (used in) financing activities 918,700 615,900 (292,500)
Effect of exchange rate changes on cash and cash equivalents (61,500) 22,800 (1,400)
Change in cash, cash equivalents and restricted cash (1,103,500) 1,083,700 3,200
Cash, cash equivalents and restricted cash, beginning of year 1,398,300 314,600 311,400
Cash, cash equivalents and restricted cash, end of year 294,800 1,398,300 314,600
Supplemental Cash Flow Information [Abstract]      
Cash and cash equivalents 142,300 1,241,900  
Restricted cash included in Other current assets 7,600 17,300  
Cash and cash equivalents included in Current assets held for sale 144,900 139,100  
Cash, cash equivalents and restricted cash 294,800 1,398,300 314,600
Craftsman      
Financing Activities:      
Craftsman deferred purchase price   101,000  
Contingent consideration (29,300) (45,900) 0
Consolidated Aerospace Manufacturing (CAM)      
Financing Activities:      
Contingent consideration $ 0 $ (94,400) $ 0