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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jul. 02, 2023
Jul. 03, 2022
Operating Activities    
Net income $ 994,168 $ 849,034
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 199,787 184,882
Stock-based compensation expense 35,841 32,561
Deferred income taxes (27,294) 7,388
Write-down of equity investments 77,360 27,440
Other 54,697 66,235
Changes in assets and liabilities, net of business acquisition:    
Accounts receivable—trade, net (43,503) 19,216
Inventories (201,906) (220,071)
Prepaid expenses and other current assets (4,457) (3,588)
Accounts payable and accrued liabilities (20,271) 123,335
Accrued income taxes (3,674) 51,927
Contributions to pension and other benefit plans (14,773) (14,331)
Other assets and liabilities 3,833 (10,255)
Net cash provided by operating activities 1,049,808 1,113,773
Investing Activities    
Capital additions (including software) (330,505) (240,960)
Equity investments in tax credit qualifying partnerships (19,077) (116,191)
Business acquisitions, net of cash and cash equivalents acquired (165,818) 0
Other investing activities (629) 6,166
Net cash used in investing activities (516,029) (350,985)
Financing Activities    
Net increase (decrease) in short-term debt 165,984 (24,507)
Long-term borrowings, net of debt issuance costs 744,092 0
Repayment of long-term debt and finance leases (752,367) (2,473)
Cash dividends paid (413,546) (360,984)
Repurchase of common stock (239,910) (355,271)
Proceeds from exercised stock options 22,021 21,770
Taxes withheld and paid on employee stock awards (32,953) (33,940)
Net cash used in financing activities (506,679) (755,405)
Effect of exchange rate changes on cash and cash equivalents (44,828) 3,073
Net (decrease) increase in cash and cash equivalents (17,728) 10,456
Cash and cash equivalents, beginning of period 463,889 329,266
Cash and cash equivalents, end of period 446,161 339,722
Supplemental Disclosure    
Interest paid 76,537 61,657
Income taxes paid $ 229,144 $ 172,888