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Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 27, 2020
Jun. 29, 2019
Operating Activities    
Net income $ 1,944 $ 1,934
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of property, plant and equipment 306 275
Amortization of acquisition-related intangible assets 842 851
Change in deferred income taxes (318) (392)
Gain on sales of businesses 0 (505)
Stock-based compensation 93 96
Other non-cash expenses, net 109 48
Changes in assets and liabilities, excluding the effects of acquisitions and disposition:    
Accounts receivable (195) 5
Inventories (309) (273)
Accounts payable (497) (202)
Contributions to retirement plans (36) (34)
Other 303 140
Net cash provided by operating activities 2,242 1,943
Investing Activities    
Acquisitions, net of cash acquired (3) (1,686)
Proceeds from sale of business, net of cash divested 0 1,126
Purchase of property, plant and equipment (522) (421)
Proceeds from sale of property, plant and equipment 6 12
Other investing activities, net 0 19
Net cash used in investing activities (519) (950)
Financing Activities    
Net proceeds from issuance of debt 3,464 0
Repayment of debt (2) (3)
Proceeds from issuance of commercial paper 383 1,895
Repayments of commercial paper (387) (1,855)
Purchases of company common stock (1,500) (750)
Dividends paid (163) (144)
Net proceeds from issuance of company common stock under employee stock plans 125 122
Other financing activities, net (121) 0
Net cash provided by (used in) financing activities 1,799 (735)
Exchange Rate Effect on Cash (107) (61)
Increase in Cash, Cash Equivalents and Restricted Cash 3,415 197
Cash, Cash Equivalents and Restricted Cash at Beginning of Period 2,422 2,117
Cash, Cash Equivalents and Restricted Cash at End of Period $ 5,837 $ 2,314