Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.24.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 29, 2024
Jul. 01, 2023
Cash flows from operating activities:    
Net income (loss) $ 388 $ (112)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 1,553 1,831
Stock-based compensation 717 657
Amortization of operating lease right-of-use assets 52 48
Deferred income taxes (256) (582)
Inventory loss at contract manufacturer 65 0
Other (37) (8)
Changes in operating assets and liabilities    
Accounts receivable, net (373) (186)
Inventories (710) (796)
Prepaid expenses and other assets (234) (237)
Receivables from and payables to related parties, net 42 (150)
Accounts payable (356) 309
Accrued and other liabilities 263 91
Net cash provided by operating activities 1,114 865
Cash flows from investing activities:    
Purchases of property and equipment (296) (283)
Purchases of short-term investments (565) (2,816)
Proceeds from maturity of short-term investments 1,202 1,171
Proceeds from sale of short-term investments 2 248
Other (92) 5
Net cash provided by (used in) investing activities 251 (1,675)
Cash flows from financing activities:    
Repayment of debt (750) 0
Proceeds from sales of common stock through employee equity plans 148 144
Repurchases of common stock (356) (241)
Common stock repurchases for tax withholding on employee equity plans (226) (87)
Other (1) 0
Net cash used in financing activities (1,185) (184)
Net increase (decrease) in cash and cash equivalents 180 (994)
Cash and cash equivalents at beginning of period 3,933 4,835
Cash and cash equivalents at end of period 4,113 3,841
Supplemental cash flow information:    
Cash paid for taxes, net of refunds 311 46
Non-cash investing and financing activities:    
Purchases of property and equipment, accrued but not paid 110 99
Operating lease right-of-use assets acquired by assuming related liabilities $ 53 $ 50