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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 26, 2022
Jun. 27, 2021
Operating activities    
Net earnings $ 2,042 $ 3,652
Adjustments to reconcile net earnings to net cash provided by operating activities    
Depreciation and amortization 672 670
Stock-based compensation 134 127
Deferred income taxes (1,172) 24
Pension settlement charge 1,470 0
Severance and restructuring charges 0 36
Changes in assets and liabilities    
Receivables, net (1,438) (633)
Contract assets (1,174) (1,880)
Inventories (450) 426
Accounts payable 1,522 743
Contract liabilities (30) (166)
Income taxes 1,065 33
Qualified defined benefit pension plans (231) (133)
Other, net 331 117
Net cash provided by operating activities 2,741 3,016
Investing activities    
Capital expenditures (572) (599)
Other, net (11) 210
Net cash used for investing activities (583) (389)
Financing activities    
Issuance of long-term debt, net of related costs 2,267 0
Repayments of long-term debt (2,250) 0
Repurchases of common stock (2,356) (1,500)
Dividends paid (1,511) (1,460)
Other, net (137) (82)
Net cash used for financing activities (3,987) (3,042)
Net change in cash and cash equivalents (1,829) (415)
Cash and cash equivalents at beginning of period 3,604 3,160
Cash and cash equivalents at end of period $ 1,775 $ 2,745