Table 3: Condensed consolidated statement of cash flows (unaudited)
| ($ in millions) | Three months ended | ||||||||||
| March 31, 2024 | December 31, 2023 | April 2, 2023 | |||||||||
| Cash flows from operating activities: | |||||||||||
| Net income (loss) | $ | 644 | $ | 703 | $ | 623 | |||||
| Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities: | |||||||||||
| Depreciation and amortization | 235 | 269 | 283 | ||||||||
| Share-based compensation | 115 | 107 | 99 | ||||||||
| Amortization of discount (premium) on debt, net | 1 | — | 1 | ||||||||
| Amortization of debt issuance costs | 2 | 2 | 2 | ||||||||
| Net (gain) loss on sale of assets | (2 | ) | — | — | |||||||
| Results relating to equity-accounted investees | 1 | 2 | 2 | ||||||||
| (Gain) loss on equity securities, net | 2 | — | 1 | ||||||||
| Deferred tax expense (benefit) | (64 | ) | (97 | ) | (62 | ) | |||||
| Changes in operating assets and liabilities: | |||||||||||
| (Increase) decrease in receivables and other current assets | (25 | ) | (20 | ) | (138 | ) | |||||
| (Increase) decrease in inventories | 32 | 6 | (196 | ) | |||||||
| Increase (decrease) in accounts payable and other liabilities | (102 | ) | 101 | 52 | |||||||
| (Increase) decrease in other non-current assets | 6 | 65 | (33 | ) | |||||||
| Exchange differences | 3 | 7 | 5 | ||||||||
| Other items | 3 | (8 | ) | (7 | ) | ||||||
| Net cash provided by (used for) operating activities | 851 | 1,137 | 632 | ||||||||
| Cash flows from investing activities: | |||||||||||
| Purchase of identified intangible assets | (32 | ) | (44 | ) | (42 | ) | |||||
| Capital expenditures on property, plant and equipment | (226 | ) | (175 | ) | (251 | ) | |||||
| Insurance recoveries received for equipment damage | 2 | — | — | ||||||||
| Proceeds from the disposals of property, plant and equipment | 2 | — | — | ||||||||
| Investment in short-term deposits | — | (409 | ) | — | |||||||
| Proceeds of short-term deposits | 9 | — | — | ||||||||
| Purchase of investments | (34 | ) | (1 | ) | (58 | ) | |||||
| Proceeds from the sale of investments | 5 | — | — | ||||||||
| Net cash provided by (used for) investing activities | (274 | ) | (629 | ) | (351 | ) | |||||
| Cash flows from financing activities: | |||||||||||
| Repurchase of long-term debt | (1,000 | ) | — | — | |||||||
| Dividends paid to common stockholders | (261 | ) | (261 | ) | (219 | ) | |||||
| Proceeds from issuance of common stock through stock plans | 37 | 1 | 33 | ||||||||
| Purchase of treasury shares and restricted stock unit
withholdings | (303 | ) | (434 | ) | (11 | ) | |||||
| Other, net | (1 | ) | — | (1 | ) | ||||||
| Net cash provided by (used for) financing activities | (1,528 | ) | (694 | ) | (198 | ) | |||||
| Effect of changes in exchange rates on cash positions | (3 | ) | 6 | 2 | |||||||
| Increase (decrease) in cash and cash equivalents | (954 | ) | (180 | ) | 85 | ||||||
| Cash and cash equivalents at beginning of period | 3,862 | 4,042 | 3,845 | ||||||||
| Cash and cash equivalents at end of period | 2,908 | 3,862 | 3,930 | ||||||||
| Net cash paid during the period for: | |||||||||||
| Interest | 38 | 83 | 54 | ||||||||
| Income taxes, net of refunds | 198 | 221 | 294 | ||||||||
| Net gain (loss) on sale of assets: | |||||||||||
| Cash proceeds from the sale of assets | 2 | — | — | ||||||||
| Book value of these assets | — | — | — | ||||||||
| Non-cash investing activities: | |||||||||||
| Non-cash capital expenditures | 223 | 266 | 176 | ||||||||
