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CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Millions
12 Months Ended
Jun. 30, 2017
USD ($)
Jun. 30, 2016
USD ($)
Jun. 30, 2015
USD ($)
Operating activities:      
Net earnings $ 701 $ 648 $ 580
Deduct: Losses from discontinued operations, net of tax (2) 0 (26)
Earnings from continuing operations 703 648 606
Adjustments to reconcile earnings from continuing operations to net cash provided by continuing operations:      
Depreciation and amortization 163 165 169
Stock-based compensation 51 45 32
Deferred income taxes (35) 5 (16)
Settlement of interest rate forward contracts 0 0 (25)
Other 36 1 (17)
Changes in:      
Receivables, net (1) (52) 6
Inventories, net (19) (45) (25)
Prepaid expenses and other current assets (5) 6 6
Accounts payable and accrued liabilities (34) 57 93
Income taxes payable 12 (62) 29
Net cash provided by continuing operations 871 768 858
Net cash (used for) provided by discontinued operations (3) 10 16
Net cash provided by operations 868 778 874
Investing activities:      
Capital expenditures (231) (172) (125)
Business acquired, net of cash acquired 0 (290) 0
Other 26 32 19
Net cash used for investing activities (205) (430) (106)
Financing activities:      
Notes and loans payable, net (125) 426 (48)
Long-term debt borrowings, net of issuance costs 0 0 495
Long-term debt repayments 0 (300) (575)
Treasury stock purchased (183) (254) (434)
Cash dividends paid (412) (398) (385)
Issuance of common stock for employee stock plans and other 75 210 251
Net cash used for financing activities (645) (316) (696)
Effect of exchange rate changes on cash and cash equivalents (1) (13) (19)
Net increase in cash and cash equivalents 17 19 53
Cash and cash equivalents:      
Beginning of year 401 382 329
End of year 418 401 382
Supplemental cash flow information:      
Interest paid 78 79 104
Income taxes paid, net of refunds 347 323 236
Noncash financing activities:      
Cash dividends declared and accrued, but not paid $ 108 $ 104 $ 99