Three Months Ended

(In Millions; Unaudited)

Apr 1, 2023

Apr 2, 2022

Cash and cash equivalents, beginning of period

$         11,144

$          4,827

Cash flows provided by (used for) operating activities:

Net income (loss)

           (2,768)

            8,113

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation

            1,901

            2,847

Share-based compensation

               739

               707

Restructuring and other charges

                55

                17

Amortization of intangibles

               465

               501

(Gains) losses on equity investments, net

             (167)

           (4,325)

(Gains) losses on divestitures

                 —

           (1,121)

Changes in assets and liabilities:

Accounts receivable

               286

            2,384

Inventories

               231

           (1,147)

Accounts payable

             (771)

             (128)

Accrued compensation and benefits

           (1,560)

           (1,884)

Income taxes

            1,344

            1,219

Other assets and liabilities

           (1,540)

           (1,292)

Total adjustments

               983

           (2,222)

Net cash provided by (used for) operating activities

           (1,785)

            5,891

Cash flows provided by (used for) investing activities:

Additions to property, plant and equipment

           (7,413)

           (4,604)

Purchases of short-term investments

         (16,132)

         (19,091)

Maturities and sales of short-term investments

          14,173

          10,490

Sales of equity investments

               116

            4,682

Proceeds from divestitures

                 —

            6,544

Other investing

               735

             (660)

Net cash used for investing activities

           (8,521)

           (2,639)

Cash flows provided by (used for) financing activities:

Repayment of commercial paper

           (2,930)

                 —

Payments on finance leases

               (15)

             (299)

Partner contributions

               449

                 —

Issuance of long-term debt, net of issuance costs

          10,968

                 —

Proceeds from sales of common stock through employee equity incentive plans

               659

               589

Payment of dividends to stockholders

           (1,512)

           (1,487)

Other financing

             (225)

             (667)

Net cash provided by (used for) financing activities

            7,394

           (1,864)

Net increase (decrease) in cash and cash equivalents

           (2,912)

            1,388

Cash and cash equivalents, end of period

$          8,232

$          6,215