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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jul. 02, 2023
Jul. 03, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net earnings $ 5,076 $ 9,963
Adjustments to reconcile net earnings to cash flows from operating activities:    
Depreciation and amortization of property and intangibles 3,814 3,513
Stock based compensation 688 644
Asset write-downs 388 747
Net gain on sale of assets/businesses (47) (213)
Deferred tax provision (2,342) (2,349)
Credit losses and accounts receivable allowances 0 (3)
Changes in assets and liabilities, net of effects from acquisitions and divestitures:    
Increase in accounts receivable (599) (1,386)
Increase in inventories (741) (1,257)
Decrease in accounts payable and accrued liabilities (1,061) (1,170)
(Increase)/Decrease in other current and non-current assets (1,144) 3,527
Increase/(Decrease) in other current and non-current liabilities 3,407 (2,456)
NET CASH FLOWS FROM OPERATING ACTIVITIES 7,439 9,560
CASH FLOWS FROM INVESTING ACTIVITIES    
Additions to property, plant and equipment (1,987) (1,470)
Proceeds from the disposal of assets/businesses, net (Note 10) 116 314
Acquisitions, net of cash acquired (Note 10) 0 (523)
Purchases of investments (9,688) (22,048)
Sales of investments 11,877 17,634
Credit support agreements activity, net (798) (10)
Other (primarily licenses and milestones) 19 (170)
NET CASH USED BY INVESTING ACTIVITIES (461) (6,273)
CASH FLOWS FROM FINANCING ACTIVITIES    
Dividends to shareholders (6,034) (5,758)
Repurchase of common stock (3,918) (2,550)
Proceeds from short-term debt (Note 4) 12,221 4,371
Repayment of short-term debt (13,611) (2,201)
Proceeds from long-term debt, net of issuance costs (Note 4) 7,674 2
Repayment of long-term debt (501) (2,132)
Proceeds from the exercise of stock options/employee withholding tax on stock awards, net 254 820
Credit support agreements activity, net (126) 813
Proceeds from Kenvue initial public offering (Note 12) 4,241 0
Other (53) (11)
NET CASH FROM/(USED BY) FINANCING ACTIVITIES 147 (6,646)
Effect of exchange rate changes on cash and cash equivalents (69) (145)
Increase/(Decrease) in cash and cash equivalents 7,056 (3,504)
Cash and Cash equivalents beginning of period 14,127 14,487
CASH AND CASH EQUIVALENTS, END OF PERIOD 21,183 10,983
Acquisitions    
Fair value of assets acquired 0 621
Fair value of liabilities assumed 0 (98)
Net cash paid for acquisitions $ 0 $ 523