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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2023
Oct. 01, 2022
Operating activities    
Net income $ 4,349 $ 5,386
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of property, plant and equipment 792 730
Amortization of acquisition-related intangible assets 1,775 1,803
Change in deferred income taxes (631) (862)
Loss on early extinguishment of debt 0 26
Stock-based compensation 217 232
Other non-cash expenses, net 441 443
Changes in assets and liabilities, excluding the effects of acquisitions (2,260) (2,091)
Net cash provided by operating activities 4,683 5,667
Investing activities    
Acquisitions, net of cash acquired (3,660) (39)
Purchase of property, plant and equipment (1,074) (1,693)
Proceeds from sale of property, plant and equipment 76 18
Other investing activities, net (108) 80
Net cash used in investing activities (4,766) (1,634)
Financing activities    
Net proceeds from issuance of debt 3,466 0
Repayment of debt (2,000) (375)
Proceeds from issuance of commercial paper 1,620 1,231
Repayments of commercial paper (1,935) (3,690)
Purchases of company common stock (3,000) (2,000)
Dividends paid (387) (338)
Other financing activities, net 42 (29)
Net cash used in financing activities (2,194) (5,201)
Exchange rate effect on cash (92) (389)
Decrease in cash, cash equivalents and restricted cash (2,369) (1,557)
Cash, cash equivalents and restricted cash at beginning of period 8,537 4,491
Cash, cash equivalents and restricted cash at end of period $ 6,168 $ 2,934