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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities    
Net earnings $ 1,155 $ 1,636
Adjustments to reconcile net earnings to net cash flows from operating activities:    
Depreciation and amortization 447 404
Deferred income taxes (65) (46)
Non-cash stock-based compensation 210 201
Net loss on disposal of property, plant and equipment 6 6
Non-cash restructuring and other charges 19 0
Pension and post-retirement benefit expense 62 53
Pension and post-retirement benefit contributions (54) (23)
Goodwill, other intangible and long-lived asset impairments 1,123 90
Changes in fair value of contingent consideration (9) (18)
Gain on liquidation of an investment in a foreign subsidiary, net 0 (71)
Gain on previously held equity method investment (553) 0
Other non-cash items (11) (17)
Changes in operating assets and liabilities:    
Increase in accounts receivable, net (48) (377)
Increase in inventory and promotional merchandise (41) (184)
Increase in other assets, net (63) (73)
Decrease in accounts payable (317) (105)
Increase in other accrued and noncurrent liabilities 62 280
Increase in operating lease assets and liabilities, net 22  
Net cash flows provided by operating activities 1,945 1,756
Cash flows from investing activities    
Capital expenditures (468) (441)
Payments for acquired businesses, net of cash acquired (1,047) 0
Proceeds from the disposition of investments 0 1,229
Purchases of investments (5) (14)
Settlement of net investment hedges (37) 0
Net cash flows provided by (used for) investing activities (1,557) 774
Cash flows from financing activities    
Proceeds (repayments) of current debt, net 1,514 (167)
Proceeds from issuance of long-term debt, net 1,783 0
Debt issuance costs (14) 0
Repayments and redemptions of long-term debt (511) (1)
Net proceeds from stock-based compensation transactions 148 154
Payments to acquire treasury stock (883) (1,344)
Payments of contingent consideration (3) 0
Dividends paid to stockholders (502) (453)
Payments to noncontrolling interest holders for dividends (7) (3)
Net cash flows provided by (used for) financing activities 1,525 (1,814)
Effect of exchange rate changes on Cash and cash equivalents (24) 5
Net increase in Cash and cash equivalents 1,889 721
Cash and cash equivalents at beginning of period 2,987 2,181
Cash and cash equivalents at end of period $ 4,876 $ 2,902