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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 29, 2024
Mar. 31, 2023
Cash flows from operations:    
Net income $ 283 $ 164
Adjustments to reconcile net income to net cash provided by (used in) operations:    
Depreciation and amortization 69 82
Stock-based compensation 20 18
Deferred income taxes (25) (43)
Other (6) 5
Change in assets and liabilities:    
Receivables (281) (166)
Other current assets and other long-term assets (35) (9)
Accounts payable and accrued liabilities and other long-term liabilities (101) (97)
Accrued payroll and employee benefits 48 13
Income taxes receivable/payable 91 (65)
Net cash provided by (used in) operating activities 63 (98) Close
Cash flows from investing activities:    
Payments for property, equipment and software (17) (39)
Other 5 0
Net cash used in investing activities (12) (39) Close
Cash flows from financing activities:    
Proceeds from debt issuance 0 1,743
Repayments of borrowings (4) (1,711)
Payments for debt issuance costs 0 (7)
Dividend payments (53) (50)
Repurchases of stock and other (183) (43)
Proceeds from issuances of stock 13 12
Net capital distributions to non-controlling interests (1) (1)
Net cash used in financing activities (228) (57) Close
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash (4) 2 Close
Net decrease in cash, cash equivalents and restricted cash (181) (192) Close
Cash, cash equivalents and restricted cash at beginning of period 928 683
Cash, cash equivalents and restricted cash at end of period 747 491
Less: restricted cash at end of period 114 112
Cash and cash equivalents at end of period 633 379
Supplementary cash flow information:    
Cash paid for income taxes, net of refunds 2 135
Cash paid for interest 61 45
Noncash Investing and Financing Items    
Property, plant and equipment additions 35 1
Finance lease obligations $ 0 $ 65