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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2022
Oct. 03, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Consolidated net income $ 1,539 $ 1,764
Adjustments to reconcile consolidated net income to net cash provided by operating activities    
Depreciation and amortization 544 497
Deferred income taxes (194) 44
Equity in income of investees, net of dividends (30) (150)
Pension and OPEB expense (Note 4) 23 62
Pension contributions and OPEB payments (Note 4) (71) (86)
Share-based compensation expense 24 25
Russian suspension costs, net of recoveries (Note 3) 112 0
Asset impairments and other charges 36 0
Loss on corporate owned life insurance 114 11
Foreign currency remeasurement and transaction exposure (136) 27
Changes in current assets and liabilities, net of acquisitions    
Accounts and notes receivable (333) (353)
Inventories (597) (919)
Other current assets (18) (45)
Accounts payable 353 416
Accrued expenses (124) 435
Changes in other liabilities (41) (59)
Other, net (56) (145)
Net cash provided by operating activities 1,145 1,524
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (453) (362)
Investments in internal use software (44) (36)
Proceeds from sale of land 0 20
Investments in and advances from (to) equity investees (50) 3
Acquisitions of businesses, net of cash acquired (Note 16) (3,008) 0
Investments in marketable securities—acquisitions (738) (569)
Investments in marketable securities—liquidations (Note 7) 819 602
Cash flows from derivatives not designated as hedges (29) 19
Other, net 7 45
Net cash used in investing activities (3,496) (278)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from borrowings (Notes 11 and 16) 2,076 35
Net borrowings (payments) of commercial paper 2,080 (123)
Payments on borrowings and finance lease obligations (1,070) (57)
Net borrowings (payments) under short-term credit agreements 21 (93)
Distributions to noncontrolling interests (38) (28)
Dividend payments on common stock (633) (601)
Repurchases of common stock (370) (1,228)
Proceeds from issuing common stock 36 27
Other, net 9 (11)
Net cash provided by (used in) financing activities 2,111 (2,079)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 147 20
Net decrease in cash and cash equivalents (93) (813)
Cash and cash equivalents at beginning of year 2,592 3,401
Cash and cash equivalents $ 2,499 $ 2,588

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