XML 85 R61.htm IDEA: XBRL DOCUMENT v3.19.2
ACCOUNTING CHANGES OR RECENT ACCOUNTING PRONOUNCEMENTS - Effect of ASC 606 on Consolidated Balance Sheet (Details) - USD ($)
$ in Millions
Jun. 28, 2019
Jun. 29, 2018
Jun. 30, 2017
Jul. 01, 2016
Current Assets        
Cash and cash equivalents $ 530 $ 288 $ 484 $ 487
Receivables 457 466 365  
Contract assets 807 782 706  
Inventories 360 411 392  
Income taxes receivable 191 174 24  
Other current assets 100 103 101  
Total current assets 2,578 2,224 2,072  
Non-current Assets        
Property, plant and equipment 894 900 904  
Goodwill 5,340 5,372 5,366  
Other intangible assets 870 989 1,104  
Non-current deferred income taxes 173 119 424  
Other non-current assets 262 247 242  
Total non-current assets 7,539 7,627 8,040  
Total assets 10,117 9,851 10,112  
Current Liabilities        
Short-term debt 103 78 80  
Accounts payable 525 622 540  
Advanced payments and unearned income   0 0  
Contract liabilities 496 372 291  
Compensation and benefits 161 142 140  
Other accrued items 283 317 332  
Income taxes payable 8 15 30  
Current portion of long-term debt, net 656 304 554  
Total current liabilities 2,268 1,850 1,967  
Non-current Liabilities        
Defined benefit plans 1,174 714 1,278  
Long-term debt, net 2,763 3,408 3,396  
Non-current deferred income taxes 12 79 34  
Other long-term liabilities 537 522 534  
Total non-current liabilities 4,486 4,723 5,242  
Shareholders’ Equity:        
Common stock 119 118 120  
Other capital 1,778 1,714 1,741  
Retained earnings 2,173 1,648 1,318  
Accumulated other comprehensive loss (707) (202) (276)  
Total shareholders’ equity 3,363 3,278 2,903  
Total liabilities and equity $ 10,117 9,851 10,112  
As Previously Reported        
Current Assets        
Cash and cash equivalents   288 484  
Receivables   735 623  
Contract assets   0 0  
Inventories   925 841  
Income taxes receivable   174 24  
Other current assets   101 101  
Total current assets   2,223 2,073  
Non-current Assets        
Property, plant and equipment   900 904  
Goodwill   5,372 5,366  
Other intangible assets   989 1,104  
Non-current deferred income taxes   116 409  
Other non-current assets   239 234  
Total non-current assets   7,616 8,017  
Total assets   9,839 10,090  
Current Liabilities        
Short-term debt   78 80  
Accounts payable   622 540  
Advanced payments and unearned income   314 252  
Contract liabilities   0 0  
Compensation and benefits   142 140  
Other accrued items   313 329  
Income taxes payable   15 31  
Current portion of long-term debt, net   304 554  
Total current liabilities   1,788 1,926  
Non-current Liabilities        
Defined benefit plans   714 1,278  
Long-term debt, net   3,408 3,396  
Non-current deferred income taxes   90 34  
Other long-term liabilities   517 528  
Total non-current liabilities   4,729 5,236  
Shareholders’ Equity:        
Common stock   118 120  
Other capital   1,714 1,741  
Retained earnings   1,692 1,343  
Accumulated other comprehensive loss   (202) (276)  
Total shareholders’ equity   3,322 2,928  
Total liabilities and equity   9,839 10,090  
Restatement Adjustment | Effect of Adopting ASC 606        
Current Assets        
Cash and cash equivalents   0 0  
Receivables   (269) (258)  
Contract assets   782 706  
Inventories   (514) (449)  
Income taxes receivable   0 0  
Other current assets   2 0  
Total current assets   1 (1)  
Non-current Assets        
Property, plant and equipment   0 0  
Goodwill   0 0  
Other intangible assets   0 0  
Non-current deferred income taxes   3 15  
Other non-current assets   8 8  
Total non-current assets   11 23  
Total assets   12 22  
Current Liabilities        
Short-term debt   0 0  
Accounts payable   0 0  
Advanced payments and unearned income   (314) (252)  
Contract liabilities   372 291  
Compensation and benefits   0 0  
Other accrued items   4 3  
Income taxes payable   0 (1)  
Current portion of long-term debt, net   0 0  
Total current liabilities   62 41  
Non-current Liabilities        
Defined benefit plans   0 0  
Long-term debt, net   0 0  
Non-current deferred income taxes   (11) 0  
Other long-term liabilities   5 6  
Total non-current liabilities   (6) 6  
Shareholders’ Equity:        
Common stock   0 0  
Other capital   0 0  
Retained earnings   (44) (25)  
Accumulated other comprehensive loss   0 0  
Total shareholders’ equity   (44) (25)  
Total liabilities and equity   $ 12 $ 22