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CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
 9 Months Ended
Jun. 29, 2024
Jul. 01, 2023
OPERATING ACTIVITIES:    
NET INCOME $ 1,248 $ 885
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 108 93
Amortization of intangible assets and product certification costs 111 106
Amortization of debt issuance costs, original issue discount and premium 31 30
Amortization of inventory step-up 8 2
Amortization of loss contract reserves (24) (27)
Refinancing costs 59 41
Gain on sale of businesses, net (11) 0
Non-cash stock and deferred compensation expense 158 131
Deferred income taxes 0 (1)
Foreign currency exchange losses 3 21
Gain on settlement of the Esterline Retirement Plan (the “ERP”) 0 (8)
Cash refund for the ERP settlement, net 0 8
Changes in assets/liabilities, net of effects from acquisitions and sales of businesses:    
Trade accounts receivable (22) (134)
Inventories (140) (244)
Income taxes (receivable) payable (120) 70
Other assets (27) (16)
Accounts payable (9) (4)
Accrued interest 118 29
Accrued and other liabilities (18) (69)
Net cash provided by operating activities 1,473 913
INVESTING ACTIVITIES:    
Capital expenditures (124) (102)
Acquisition of businesses, net of cash acquired (1,686) (750)
Other investing transactions 71 0
Net cash used in investing activities (1,739) (852)
FINANCING ACTIVITIES:    
Proceeds from exercise of stock options 213 179
Dividends and dividend equivalent payments (2,038) (38)
Repayments of senior subordinated notes, net (550) 0
Proceeds from issuance of senior secured notes, net 5,887 2,068
Repayments of senior secured notes (4,400) (1,122)
Proceeds from term loans, net 5,332 6,238
Proceeds from trade receivable securitization facility, net 100 0
Repayment on term loans (4,385) (7,318)
Financing costs and other, net (7) (18)
Net cash provided by (used in) financing activities 152 (11)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS 2 20
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (112) 70
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD   3,001
CASH AND CASH EQUIVALENTS, END OF PERIOD 3,360 3,071
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:    
Cash paid during the period for interest, net 777 808
Cash paid during the period for income taxes, net of refunds $ 472 $ 231