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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Jan. 01, 2023
Cash flows from operating activities      
Net earnings $ 14,066 $ 35,153 $ 17,941
Adjustments to reconcile net earnings to cash flows from operating activities:      
Depreciation and amortization of property and intangibles 7,339 7,486 6,970
Stock based compensation 1,176 1,162 1,138
Asset write-downs 405 1,295 1,216
Charges for acquired in-process research and development assets 1,841 483 0
(Gain) on separation of Kenvue 0 (20,984) 0
Net gain on sale of assets/businesses (226) (117) (380)
Deferred tax provision (2,183) (4,194) (1,663)
Credit losses and accounts receivable allowances 11 0 (17)
Changes in assets and liabilities, net of effects from acquisitions and divestitures:      
Increase in accounts receivable (406) (624) (1,290)
Increase in inventories (1,128) (1,323) (2,527)
Increase in accounts payable and accrued liabilities 1,621 2,346 1,098
Decrease/(Increase) in other current and non-current assets 1,717 (3,480) 687
Increase/(Decrease) in other current and non-current liabilities 33 5,588 (1,979)
Net cash flows from operating activities 24,266 22,791 21,194
Cash flows from investing activities      
Additions to property, plant and equipment (4,424) (4,543) (4,009)
Proceeds from the disposal of assets/businesses, net 675 358 543
Acquisitions, net of cash acquired (15,146) 0 (17,652)
Purchases of in-process research and development assets (1,783) (470) 0
Purchases of investments (1,726) (10,906) (32,384)
Sales of investments 2,462 19,390 41,609
Credit support agreements activity, net 1,517 (2,963) (249)
Other (including capitalized licenses and milestones) (174) 12 (229)
Net cash (used by)/from investing activities (18,599) 878 (12,371)
Cash flows from financing activities      
Dividends to shareholders (11,823) (11,770) (11,682)
Repurchase of common stock (2,432) (5,054) (6,035)
Proceeds from short-term debt 15,277 13,743 16,134
Repayment of short-term debt (9,463) (22,973) (6,550)
Proceeds from long-term debt, net of issuance costs 6,660 0 2
Repayment of long-term debt (1,453) (1,551) (2,134)
Proceeds from the exercise of stock options/employee withholding tax on stock awards, net 838 1,094 1,329
Credit support agreements activity, net 272 (219) (28)
Settlement of convertible debt acquired from Shockwave (970) 0 0
Proceeds of short and long-term debt, net of issuance cost, related to the debt that transferred to Kenvue at separation 0 8,047 0
Proceeds from Kenvue initial public offering 0 4,241 0
Cash transferred to Kenvue at separation 0 (1,114) 0
Other (38) (269) 93
Net cash used by financing activities (3,132) (15,825) (8,871)
Effect of exchange rate changes on cash and cash equivalents (289) (112) (312)
Increase/(Decrease) in cash and cash equivalents 2,246 7,732 (360)
Cash and cash equivalents from continuing operations, beginning of period 21,859 12,889 13,309
Cash and cash equivalents from discontinued operations, beginning of period 0 1,238 1,178
Cash and cash equivalents, beginning of year 21,859 14,127 14,487
Cash and cash equivalents from continuing operations, end of period 24,105 21,859 12,889
Cash and cash equivalents from discontinued operations, end of period 0 0 1,238
Cash and cash equivalents, end of year 24,105 21,859 14,127
Cash paid during the year for:      
Interest 1,990 1,836 982
Interest, net of amount capitalized 1,911 1,766 933
Income taxes, inclusive of discontinued operations 6,714 8,574 5,223
Supplemental schedule of non-cash investing and financing activities      
Treasury stock issued for employee compensation and stock option plans, net of cash proceeds/ employee withholding tax on stock awards 1,551 1,435 2,114
Acquisitions      
Fair value of assets acquired 16,091 0 18,710
Fair value of liabilities assumed (1,632) 0 (1,058)
Net cash paid for acquisitions (Note 18) $ 14,459 $ 0 $ 17,652