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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 28, 2024
Jun. 30, 2023
Cash flows from operations:    
Net income $ 607 $ 374
Adjustments to reconcile net income to net cash provided by operations:    
Depreciation and amortization 140 166
Stock-based compensation 40 37
Deferred income taxes (67) (88)
Other 2 6
Change in assets and liabilities, net of effects of acquisitions:    
Receivables (185) (123)
Other current assets and other long-term assets 7 49
Accounts payable and accrued liabilities and other long-term liabilities (174) (198)
Accrued payroll and employee benefits 10 (32)
Income taxes receivable/payable 57 (125)
Net cash provided by operating activities 437 66 Close
Cash flows from investing activities:    
Acquisition of a business, net of cash acquired 0 (4)
Payments for property, equipment and software (40) (79)
Net proceeds from sale of assets 2 0
Other 5 0
Net cash used in investing activities (33) (83) Close
Cash flows from financing activities:    
Proceeds from debt issuance 0 1,743
Net proceeds from commercial paper 0 200
Repayments of borrowings (9) (2,036)
Payments for debt issuance costs 0 (7)
Dividend payments (104) (100)
Repurchases of stock and other (297) (43)
Proceeds from issuances of stock 26 25
Net capital distributions to non-controlling interests (3) (3)
Net cash used in financing activities (387) (221) Close
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash (4) 3 Close
Net increase (decrease) in cash, cash equivalents and restricted cash 13 (235) Close
Cash, cash equivalents and restricted cash at beginning of period 928 683
Cash, cash equivalents and restricted cash at end of period 941 448
Less: restricted cash at end of period 118 119
Cash and cash equivalents at end of period 823 329
Supplementary cash flow information:    
Cash paid for income taxes, net of refunds 163 279
Cash paid for interest 107 96
Non-cash investing and financing activity:    
Property, plant and equipment additions 57 1
Finance lease obligations $ 0 $ 65