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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Oct. 02, 2015
Oct. 03, 2014
Cash flows from operating activities    
Net income $ 283 $ 423
Adjustments to reconcile net income to net cash provided by operations:    
Depreciation and amortization 236 289
Stock-based Compensation 42 39
Deferred income taxes (7) 10
Loss on disposal of assets 0 4
Non-cash portion of employee termination benefits, asset impairment and other charges 18 1
Changes in:    
Accounts receivable, net (84) 74
Inventories 105 (46)
Accounts payable (71) 49
Accrued arbitration award 0 14
Accrued expenses 18 16
Accrued compensation 6 (22)
Other assets and liabilities (1) (24)
Net cash provided by operating activities 545 827
Cash flows from investing activities    
Purchases of property, plant and equipment (151) (160)
Proceeds from Sale and Maturity of Other Investments 124 166
Purchases of investments (236) (120)
Payments for (Proceeds from) Other Investing Activities (10) (12)
Net cash used in investing activities (273) (126)
Cash flows from financing activities    
Issuance of stock under employee stock plans 15 39
Taxes paid on vested stock awards under employee stock plans (43) (57)
Excess tax benefits from employee stock plans 19 20
Repurchases of common stock (60) (223)
Dividends to shareholders (115) (94)
Repayment of debt (31) (31)
Net cash provided by (used in) financing activities (215) (346)
Net increase (decrease) in cash and cash equivalents 57 355
Cash and cash equivalents, beginning of period 5,024 4,804
Cash and cash equivalents, end of period 5,081 5,159
Supplemental disclosure of cash flow information:    
Cash paid (received) for income taxes 8 10
Cash paid for interest 11 12
Supplemental disclosure of non-cash financing activities:    
Accrual of cash dividend declared $ 116 $ 94