v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Apr. 04, 2026
Apr. 05, 2025
Operating activities:    
Net earnings before noncontrolling interests $ 870 $ 226
Adjustments:    
Depreciation 321 303
Amortization 63 65
Impairment of assets 15 12
Stock-based compensation 30 26
Deferred income taxes (34) (31)
Distributions from affiliates 6 6
Equity in earnings of unconsolidated affiliates (7) (4)
Changes in assets and liabilities (exclusive of acquisitions and dispositions):    
Accounts receivable (463) (291)
Inventories (183) (150)
Accounts payable 226 378
Federal income taxes 78 72
Salaries, wages and related accruals (168) (308)
Other operating activities 132 60
Cash provided by operating activities 886 364
Investing activities:    
Capital expenditures (661) (859)
Investment in and advances to affiliates (2)  
Disposition of plant and equipment 14 3
Acquisitions (net of cash acquired)   (1)
Purchases of investments (141) (452)
Proceeds from the sale of investments 326 127
Other investing activities 18 2
Cash used in investing activities (446) (1,180)
Financing activities:    
Net change in short-term debt 12 (65)
Proceeds from issuance of long-term debt, net of discount   997
Bond issuance costs   (9)
Repayment of long-term debt (4) (4)
Proceeds from exercise of stock options 4  
Payment of tax withholdings on certain stock-based compensation (3)  
Distributions to noncontrolling interests (220) (172)
Cash dividends (129) (129)
Acquisition of treasury stock (125) (300)
Proceeds from government incentives   75
Other financing activities (7) 21
Cash (used in) provided by financing activities (472) 414
Effect of exchange rate changes on cash (2)  
Decrease in cash and cash equivalents (34) (402)
Cash and cash equivalents - beginning of year 2,260 3,558
Cash and cash equivalents - end of three months 2,226 3,156
Non-cash investing activity:    
Change in accrued plant and equipment purchases $ (7) $ 62