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Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jul. 02, 2022
Jul. 03, 2021
Operating activities    
Net income $ 3,888 $ 4,166
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of property, plant and equipment 486 409
Amortization of acquisition-related intangible assets 1,209 872
Change in deferred income taxes (601) (307)
Loss on early extinguishment of debt 26 197
Stock-based compensation 155 102
Other non-cash expenses, net 291 213
Changes in assets and liabilities, excluding the effects of acquisitions (1,724) (1,447)
Net cash provided by operating activities 3,730 4,205
Investing activities    
Acquisitions, net of cash acquired (40) (1,425)
Purchase of property, plant and equipment (1,146) (1,168)
Proceeds from sale of property, plant and equipment 14 5
Other investing activities, net 83 (36)
Net cash used in investing activities (1,089) (2,624)
Financing activities    
Repayment of debt (375) (2,803)
Proceeds from issuance of commercial paper 1,032 0
Repayments of commercial paper (3,490) 0
Purchases of company common stock (2,000) (2,000)
Dividends paid (220) (190)
Net proceeds from issuance of company common stock under employee stock plans 51 72
Other financing activities, net (48) (5)
Net cash used in financing activities (5,050) (4,926)
Exchange rate effect on cash (177) 44
Decrease in cash, cash equivalents and restricted cash (2,586) (3,301)
Cash, cash equivalents and restricted cash at beginning of period 4,491 10,336
Cash, cash equivalents and restricted cash at end of period $ 1,905 $ 7,035