v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Mar. 28, 2026
Mar. 29, 2025
Cash flows from operating activities:    
Net income $ 1,383 $ 709
Income from discontinued operations, net of tax (11)  
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 206 175
Amortization of acquisition-related intangibles 551 567
Stock-based compensation 487 364
Deferred Income Taxes and Tax Credits (79) (167)
(Gains) losses on long-term investmetns, net (66) 2
Other 28 37
Changes in operating assets and liabilities:    
Accounts receivable, net 280 748
Inventories (125) (682)
Prepaid expenses and other assets (308) (237)
Accounts payable (104) (289)
Accrued and other liabilities 713 (288)
Net cash flows provided by operating activities of continuing operations 2,955 939
Cash flows from investing activities:    
Purchases of property and equipment (389) (212)
Purchases of short-term investments (2,545) (304)
Proceeds from maturity of short-term investments 652 365
Proceeds from sale of short-term investments 126 33
Purchases of long-term investments (409) (239)
Net cash used in investing activities of continuing operations (2,565) (357)
Cash flows from financing activities:    
Proceeds from debt and commercial paper issuance, net of issuance costs 0 2,441
Proceeds from sales of common stock through employee equity plans 5 4
Repurchases of common stock (221) (749)
Stock repurchases for tax withholding on employee equity plans (134) (30)
Net cash (used in) provided by financing activities of continuing operations (350) 1,666
Net increase in cash, cash equivalents and restricted cash 40 2,248
Cash, cash equivalents and restricted cash at end of period 5,596 6,059
Supplemental cash flow information:    
Income Tax Paid, after Refund Received 30 128
Non-cash investing and financing activities:    
Purchases of property and equipment, accrued but not paid 329 147
Reconciliation of cash, cash equivalents and restricted cash    
Cash and cash equivalents 5,585 6,049
Restricted cash included in Prepaid expenses and other current assets 11 10
Cash, cash equivalents and restricted cash at end of period $ 5,596 $ 6,059