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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Jul. 01, 2017
Jul. 02, 2016
Jun. 27, 2015
Cash flows from operating activities:      
Net income $ 525,278 $ 506,531 $ 571,913
Less: Income from discontinued operations, net of tax 261,927 115,622 86,538
Income from continuing operations 263,351 390,909 485,375
Non-cash and other reconciling items:      
Depreciation 101,407 70,344 66,436
Amortization 53,953 9,246 15,755
Deferred income taxes (17,705) 107,598 8,697
Stock-based compensation 47,686 56,908 62,006
Other, net 29,104 29,379 55,964
Changes in (net of effects from businesses acquired):      
Receivables (371,820) 191,209 (247,645)
Inventories 84,408 (416,644) (78,339)
Accounts payable 163,604 (326,217) 117,513
Accrued expenses and other, net (132,941) (161,607) (167,907)
Net cash flows provided (used) by operating activities - continuing operations 221,047 (48,875) 317,855
Net cash flows (used) provided by operating activities - discontinued operations (589,738) 273,190 266,028
Net cash flows (used) provided by operating activities (368,691) 224,315 583,883
Cash flows from financing activities:      
Issuance of notes, net of issuance costs 296,374 541,500  
Repayment of notes (530,800) (250,000)  
Borrowings (repayments) under accounts receivable securitization, net (588,000) 79,996 34,362
Borrowings (repayment) of senior unsecured credit facility, net (50,029) 101,200 38,000
Borrowings (repayments) under bank credit facilities and other debt, net 27,877 18,695 (108,486)
Borrowings of term loans 530,756    
Repayments of term loans (511,358)    
Repurchases of common stock (275,884) (380,943) (159,984)
Dividends paid on common stock (88,657) (88,594) (87,330)
Other, net (1,870) (11,448) (13,502)
Net cash flows (used) provided by financing activities - continuing operations (1,191,591) 10,406 (296,940)
Net cash flows provided (used) by financing activities - discontinued operations 3,447 22,949 (44,048)
Net cash flows (used) provided by financing activities (1,188,144) 33,355 (340,988)
Cash flows from investing activities:      
Purchases of property, plant and equipment (120,397) (137,375) (133,356)
Acquisitions of businesses, net of cash acquired (Note 2) (802,744)    
Other, net 18,656 15,574 (11,705)
Net cash flows used for investing activities - continuing operations (904,485) (121,801) (145,061)
Net cash flows provided (used) by investing activities - discontinued operations 2,242,959 (30,712) (41,282)
Net cash flows provided (used) by investing activities 1,338,474 (152,513) (186,343)
Effect of currency exchange rate changes on cash and cash equivalents 23,267 (6,232) (52,970)
Cash and cash equivalents:      
Net change in cash and cash equivalents (195,094) 98,925 3,582
Cash and cash equivalents at beginning of period 1,031,478 932,553 928,971
Cash and cash equivalents at end of period $ 836,384 $ 1,031,478 $ 932,553