v3.26.1
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jul. 03, 2026
Jun. 27, 2025
Operating Activities    
Net income $ 1,112 $ 844
Adjustments to reconcile to net cash provided by operating activities:    
Depreciation and amortization 570 604
Share-based compensation 49 48
Net periodic benefit income (139) (150)
Share-based matching contributions under defined contribution plans 107 136
Net investment gains (77) (4)
Deferred income taxes 182 (94)
(Increase) decrease in:    
Receivables, net (675) (383)
Contract assets (138) (634)
Inventories, net (55) 86
Other current assets (179) (22)
Increase (decrease) in:    
Accounts payable (369) 38
Contract liabilities 656 177
Compensation and benefits (105) 25
Other current liabilities (88) (268)
Income taxes (5) 321
Other operating activities (62) (126)
Net cash provided by operating activities 784 598
Investing Activities    
Capital expenditures (207) (147)
Proceeds from disposal of property, plant and equipment, net 7 9
Proceeds from sales of businesses, net of cash divested 0 831
Other investing activities (11) (27)
Net cash (used in) provided by investing activities (211) 666
Financing Activities    
Proceeds from issuance of subsidiary Series A preferred stock, net 973 0
Repayments of long-term debt (112) (611)
Change in commercial paper, net 0 470
Repurchases of common stock (525) (822)
Dividends paid (470) (453)
Other financing activities 17 1
Net cash used in financing activities (117) (1,415)
Effect of exchange rate changes on cash and cash equivalents (4) 18
Net increase (decrease) in cash and cash equivalents 452 (133)
Cash and cash equivalents, beginning of period 1,069 615
Cash and cash equivalents, end of period $ 1,521 $ 482