v3.26.1
Consolidated Condensed Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 26, 2026
Jun. 27, 2025
Cash flows from operating activities:    
Net earnings $ 1,899 $ 1,509
Noncash items:    
Depreciation 389 366
Amortization of intangible assets 897 836
Amortization of acquisition-related inventory fair value step-up 46 0
Stock-based compensation expense 151 152
Investment losses and pretax gain on sale of product line 84 125
Impairment charges 0 447
Change in trade accounts receivable, net 137 134
Change in inventories (178) (248)
Change in trade accounts payable (79) (111)
Change in prepaid expenses and other assets 81 (99)
Change in accrued expenses and other liabilities (571) (474)
Net cash provided by operating activities 2,856 2,637
Cash flows from investing activities:    
Cash paid for acquisitions (9,843) 0
Payments for additions to property, plant and equipment (506) (493)
Proceeds from sales of property, plant and equipment 0 10
Payments for purchases of investments (67) (50)
Proceeds from sales of investments 0 10
Proceeds from sale of product line 0 9
All other investing activities 20 14
Total cash used in investing activities (10,396) (500)
Cash flows from financing activities:    
(Payments for) proceeds from the issuance of common stock in connection with stock-based compensation, net (1) 14
Payment of dividends (509) (423)
Net proceeds from (repayments of) borrowings (maturities of 90 days or less) 3,673 (1)
Borrowings (maturities longer than 90 days) 6,555 4
Repayments of borrowings (maturities longer than 90 days) (1,434) 0
Payments for repurchase of common stock (894) (1,078)
All other financing activities (71) (18)
Total cash provided by (used in) financing activities 7,319 (1,502)
Effect of exchange rate changes on cash and equivalents (46) 244
Net change in cash and equivalents (267) 879
Beginning balance of cash and equivalents 4,615 2,078
Ending balance of cash and equivalents 4,348 2,957
Supplemental disclosures:    
Cash interest payments 136 149
Cash income tax payments $ 541 $ 531