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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities    
Net earnings (loss) $ (587) $ 695
Adjustments to reconcile net earnings (loss) to net cash flows from operating activities:    
Depreciation and amortization 619 614
Deferred income taxes (334) (165)
Non-cash stock-based compensation 255 276
Net loss on disposal of property, plant and equipment 5 7
Non-cash restructuring and other charges 17 6
Pension and post-retirement benefit expense 58 38
Pension and post-retirement benefit contributions (69) (75)
Impairment of goodwill and other intangible assets 861 0
Other non-cash items 11 13
Changes in operating assets and liabilities:    
Increase in accounts receivable, net (77) (404)
Decrease in inventory and promotional merchandise 215 653
Decrease (increase) in other assets, net (33) 19
Decrease in accounts payable (230) (289)
Increase (decrease) in other accrued and noncurrent liabilities (19) 106
Decrease in operating lease assets and liabilities, net (21) (23)
Net cash flows provided by operating activities 671 1,471
Cash flows from investing activities    
Capital expenditures (395) (702)
Proceeds from sale of property, plant and equipment 3 0
Purchases of investments (1) (8)
Settlement of net investment hedges (15) (25)
Net cash flows used for investing activities (408) (735)
Cash flows from financing activities    
Repayments of current debt, net 0 (215)
Proceeds from issuance of long-term debt, net 0 649
Debt issuance costs 0 (4)
Repayments of commercial paper (maturities after three months) 0 (785)
Repayments of long-term debt (503) (7)
Net proceeds from stock-based compensation transactions 15 29
Payments to acquire treasury stock (35) (34)
Settlement of cross-currency swaps 20 18
Dividends paid to stockholders (492) (710)
Payment for acquisition of noncontrolling interest (21) 0
Net cash flows used for financing activities (1,016) (1,059)
Effect of exchange rate changes on Cash and cash equivalents (11) (5)
Net decrease in Cash and cash equivalents (764) (328)
Cash and cash equivalents at beginning of period 3,395 4,029
Cash and cash equivalents at end of period $ 2,631 $ 3,701