v3.25.2
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 29, 2025
Jun. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES    
Net earnings $ 16,536 $ 7,941
Adjustments to reconcile net earnings to cash flows from operating activities:    
Depreciation and amortization of property and intangibles 3,715 3,597
Stock based compensation 698 643
Asset write-downs 30 379
Charges for purchase of in-process research and development assets 92 0
Net gain on sale of assets/businesses (74) (223)
Deferred tax provision 2,997 (2,257)
Credit losses and accounts receivable allowances 3 0
Changes in assets and liabilities, net of effects from acquisitions and divestitures:    
Increase in accounts receivable (2,283) (1,163)
Increase in inventories (656) (739)
(Decrease) / Increase in accounts payable and accrued liabilities (886) 449
(Increase)/Decrease in other current and non-current assets (6,194) 3,731
Decrease in other current and non-current liabilities (5,926) (3,068)
Net cash flows from operating activities 8,052 9,290
Cash flows from investing activities    
Additions to property, plant and equipment (1,838) (1,783)
Proceeds from the disposal of assets/businesses, net (Note 10) 332 573
Acquisitions, net of cash acquired (Note 10) (14,458) (14,807)
Acquired in-process research and development assets / related milestones (Note 10) (369) 0
Purchases of investments (431) (1,184)
Sales of investments 953 1,706
Credit support agreements activity, net (2,684) 1,430
Other (including capitalized licenses and milestones) (66) (86)
Net cash used by investing activities (18,561) (14,151)
Cash flows from financing activities    
Dividends to shareholders (6,118) (5,854)
Repurchase of common stock (2,127) (1,611)
Proceeds from short-term debt, net 9,349 13,976
Repayment of short-term debt, net (5,058) (3,915)
Proceeds from long-term debt, net of issuance costs 9,138 6,659
Repayment of long-term debt (754) (803)
Proceeds from the exercise of stock options/employee withholding tax on stock awards, net 557 290
Credit support agreements activity, net (271) 281
Settlement of convertible debt acquired from Shockwave 0 (970)
Other 41 37
Net cash from financing activities 4,757 8,090
Effect of exchange rate changes on cash and cash equivalents 224 (210)
(Decrease) / Increase in cash and cash equivalents (5,528) 3,019
Cash and cash equivalents, beginning of period 24,105 21,859
Cash and cash equivalents, end of period $ 18,577 $ 24,878