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Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Apr. 02, 2022
Apr. 03, 2021
Operating activities    
Net income $ 2,220 $ 2,337
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of property, plant and equipment 250 198
Amortization of acquisition-related intangible assets 609 423
Change in deferred income taxes (339) 24
Loss on early extinguishment of debt 26 197
Stock-based compensation 78 51
Other non-cash expenses, net 233 69
Changes in assets and liabilities, excluding the effects of acquisitions (875) (1,321)
Net cash provided by operating activities 2,202 1,978
Investing activities    
Acquisitions, net of cash acquired (40) (1,343)
Purchase of property, plant and equipment (640) (628)
Proceeds from sale of property, plant and equipment 2 5
Other investing activities, net 8 (32)
Net cash used in investing activities (670) (1,998)
Financing activities    
Repayment of debt (375) (2,803)
Proceeds from issuance of commercial paper 626 0
Repayments of commercial paper (1,259) 0
Purchases of company common stock (2,000) (2,000)
Dividends paid (103) (87)
Net proceeds from issuance of company common stock under employee stock plans 2 20
Other financing activities, net (36) 20
Net cash used in financing activities (3,145) (4,850)
Exchange rate effect on cash (99) 137
Decrease in cash, cash equivalents and restricted cash (1,712) (4,733)
Cash, cash equivalents and restricted cash at beginning of period 4,491 10,336
Cash, cash equivalents and restricted cash at end of period $ 2,779 $ 5,603