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CONDENSED CONSOLIDATED BALANCE SHEET - USD ($)
$ in Millions
Oct. 01, 2021
Jan. 01, 2021
Current Assets    
Cash and cash equivalents $ 1,126 $ 1,276
Receivables, net 1,027 1,344
Contract assets 2,813 2,437
Inventories 1,024 973
Inventory prepayments 50 61
Income taxes receivable 151 295
Other current assets 280 246
Assets of businesses held for sale 155 35
Total current assets 6,626 6,667
Non-current Assets    
Property, plant and equipment, net 2,044 2,102
Operating lease right-of-use assets 788 766
Goodwill 18,207 18,876
Other intangible assets, net 6,796 7,908
Deferred income taxes 79 119
Other non-current assets 478 522
Total non-current assets 28,392 30,293
Total assets 35,018 36,960
Current Liabilities    
Short-term debt 2 2
Accounts payable 1,608 1,406
Contract liabilities 1,174 1,198
Compensation and benefits 368 496
Other accrued items 1,058 1,066
Income taxes payable 32 49
Current portion of long-term debt, net 11 10
Liabilities of businesses held for sale 60 13
Total current liabilities 4,313 4,240
Non-current Liabilities    
Defined benefit plans 857 1,906
Operating lease liabilities 792 734
Long-term debt, net 7,053 6,943
Deferred income taxes 1,293 1,237
Other long-term liabilities 1,116 1,059
Total non-current liabilities 11,111 11,879
Shareholders’ Equity:    
Preferred stock, without par value; 1,000,000 shares authorized; none issued 0 0
Common stock, $1.00 par value; 500,000,000 shares authorized; issued and outstanding 196,795,809 and 208,230,353 shares at October 1, 2021 and January 1, 2021, respectively 197 208
Other capital 16,847 19,008
Retained earnings 2,743 2,347
Accumulated other comprehensive loss (303) (839)
Total shareholders’ equity 19,484 20,724
Noncontrolling interests 110 117
Total equity 19,594 20,841
Total liabilities and equity $ 35,018 $ 36,960