XML 61 R6.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Jun. 30, 2017
Jul. 01, 2016
Jul. 03, 2015
Operating Activities      
Net income $ 553 $ 324 $ 334
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 183 229 233
Amortization of intangible assets from Exelis Inc. acquisition 128 132 11
Share-based compensation 42 39 37
Qualified pension plan contributions (589) (174) (1)
Pension income (97) (26) (1)
Net liability reduction for certain post-employment benefit plans 0 (101) 0
Settlement of Exelis Inc. excess pension plan 0 (244) 0
Impairment of goodwill and other assets 240 367 46
(Gain) loss on sales of businesses, net 14 (10) (9)
Adjustment to loss on sales of businesses, net 0 20 0
Loss on prepayment of long-term debt 0 0 118
(Increase) decrease in:      
Accounts and notes receivable 111 192 (17)
Inventories 28 (28) 20
Increase (decrease) in:      
Accounts payable 18 (10) 68
Advance payments and unearned income (42) (96) (48)
Income taxes 131 199 (2)
Other (151) 111 65
Net cash provided by operating activities 569 924 854
Investing Activities      
Net cash paid for acquired businesses 0 0 (3,186)
Cash paid for fixed income securities 0 (19) 0
Net additions of property, plant and equipment (119) (152) (148)
Proceeds from sales of businesses, net 1,014 181 50
Adjustment to proceeds from sales of businesses, net (25) (11) 0
Net cash provided by (used in) investing activities 870 (1) (3,284)
Financing Activities      
Proceeds from borrowings, net of issuance costs 85 61 3,683
Repayments of borrowings (584) (730) (954)
Proceeds from exercises of employee stock options 54 44 47
Repurchases of common stock (710) 0 (150)
Cash dividends (262) (252) (198)
Other financing activities (21) (16) (55)
Net cash provided by (used in) financing activities (1,438) (893) 2,373
Effect of exchange rate changes on cash and cash equivalents (4) (24) (23)
Net increase (decrease) in cash and cash equivalents (3) 6 (80)
Cash and cash equivalents, beginning of year 487 481 561
Cash and cash equivalents, end of year $ 484 $ 487 $ 481