v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 28, 2026
Jun. 29, 2025
CASH FLOWS FROM OPERATING ACTIVITIES    
Net earnings $ 10,769 $ 16,536
Adjustments to reconcile net earnings to cash flows from operating activities:    
Depreciation and amortization of property and intangibles 3,963 3,715
Stock based compensation 758 698
Asset write-downs 220 30
Charges for acquired in-process research and development assets 2 92
Net loss/(gain) on sale of assets/businesses (43) (74)
Deferred tax provision (320) 2,997
Credit losses and accounts receivable allowances (12) 3
Changes in assets and liabilities, net of effects from acquisitions and divestitures:    
Increase in accounts receivable (1,947) (2,283)
Increase in inventories (1,002) (656)
Decrease in accounts payable and accrued liabilities (956) (886)
Decrease/(Increase) in other current and non-current assets 1,299 (6,194)
Decrease in other current and non-current liabilities (1,601) (5,926)
Net cash flows from operating activities 11,130 8,052
Cash flows used for investing activities    
Additions to property, plant and equipment (2,370) (1,838)
Proceeds from the disposal of assets/businesses, net (Note 10) 92 332
Acquisitions, net of cash acquired (Note 10) (263) (14,458)
Acquired in-process research and development assets / related milestones (Note 10) 0 (369)
Purchases of investments (299) (431)
Sales of investments 368 953
Credit support agreements activity, net 515 (2,684)
Other (including capitalized licenses and milestones) (193) (66)
Net cash used for investing activities (2,150) (18,561)
Cash flows (used for) from financing activities    
Dividends to shareholders (6,358) (6,118)
Repurchase of common stock (4,249) (2,127)
Proceeds from short-term debt, net 13,146 9,349
Repayment of short-term debt, net (9,677) (5,058)
Proceeds from long-term debt, net of issuance costs 0 9,138
Repayment of long-term debt (2,003) (754)
Proceeds from the exercise of stock options/employee withholding tax on stock awards, net 1,531 557
Credit support agreements activity, net (49) (271)
Other (588) 41
Net cash (used for) from financing activities (8,247) 4,757
Effect of exchange rate changes on cash and cash equivalents (20) 224
Increase in cash and cash equivalents 713 (5,528)
Cash and cash equivalents, beginning of period 19,709 24,105
Cash and cash equivalents, end of period $ 20,422 $ 18,577