v3.25.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Cash flows from operating activities:    
Net income $ 248 $ 228
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 84 85
Share-based compensation 83 48
Deferred income taxes (30) (36)
Unrealized gain on forward interest rate swaps 0 (31)
Other, net 12 7
Changes in operating assets and liabilities:    
Accounts receivable, net 81 (185)
Inventories, net 11 125
Other assets 10 (3)
Accounts payable (71) 98
Accrued liabilities (101) 23
Deferred revenue 13 (25)
Income taxes (10) 38
Settlement liability 0 (45)
Cash receipts on forward interest rate swaps 0 86
Other operating activities (5) 0
Net cash provided by operating activities 325 413
Cash flows from investing activities:    
Acquisition of businesses (62) 0
Purchases of property, plant and equipment (37) (24)
Proceeds from sale of short-term investments 0 2
Purchases of long-term investments 0 (3)
Net cash used in investing activities (99) (25)
Cash flows from financing activities:    
Payment of debt issuance costs, extinguishment costs and discounts 0 (9)
Payments of debt 0 (694)
Proceeds from issuance of debt 0 651
Payments for repurchases of common stock (250) 0
Net payments related to share-based compensation plans (16) (27)
Change in unremitted cash collections from servicing factored receivables 7 (38)
Other financing activities 2 2
Net cash used in financing activities (257) (115)
Effect of exchange rate changes on cash and cash equivalents, including restricted cash 2 0
Net (decrease) increase in cash and cash equivalents, including restricted cash (29) 273
Cash and cash equivalents, including restricted cash, at beginning of period 901 138
Cash and cash equivalents, including restricted cash, at end of period 872 411
Less restricted cash, included in Prepaid expenses and other current assets 0 0
Cash and cash equivalents at end of period 872 411
Supplemental disclosures of cash flow information:    
Income taxes paid 95 43
Interest paid (received) inclusive of forward interest rate swaps $ 55 $ (17)