v3.25.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 29, 2025
Jun. 30, 2024
Operating Activities    
Net income $ 286,922 $ 978,347
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 243,397 218,185
Stock-based compensation expense 31,003 17,500
Deferred income taxes (16,036) (16,704)
Write-down of equity investments 0 31,391
Unrealized losses (gains) on derivative contracts 464,739 (191,142)
Other 42,761 35,235
Changes in assets and liabilities, net of business acquisition:    
Accounts receivable—trade, net (10,407) (33,051)
Inventories (576,571) (128,122)
Prepaid expenses and other current assets (447,678) (90,937)
Accounts payable and accrued liabilities 382,684 19,944
Accrued income taxes 162,774 63,555
Contributions to pension and other benefit plans (6,543) (5,468)
Other assets and liabilities (48,147) (3,993)
Net cash provided by operating activities 508,898 894,740
Investing Activities    
Capital additions (including software) (230,615) (343,457)
Receipts (payments) related to equity investments in tax credit qualifying partnerships 9,026 (46,053)
Purchase of intangible assets (73,597) 0
Other investing activities (6,595) (222)
Net cash used in investing activities (301,781) (389,732)
Financing Activities    
Net (decrease) increase in short-term debt (1,151,638) 609,999
Long-term borrowings, net of debt issuance costs 1,984,545 0
Repayment of long-term debt and finance leases (303,317) (3,029)
Cash dividends paid (542,825) (543,926)
Repurchase of common stock 0 (494,191)
Proceeds from exercised stock options 6,940 8,285
Taxes withheld and paid on employee stock awards (16,197) (30,012)
Net cash used in financing activities (22,492) (452,874)
Effect of exchange rate changes on cash and cash equivalents (3,026) 13,022
Net increase in cash and cash equivalents 181,599 65,156
Cash and cash equivalents, beginning of period 730,746 401,902
Cash and cash equivalents, end of period 912,345 467,058
Supplemental Disclosure    
Interest paid 92,348 87,527
Income taxes paid $ 65,489 $ 165,530