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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jan. 01, 2022
Jan. 02, 2021
Cash flows from operating activities:    
Net income $ 262,139 $ 274
Non-cash and other reconciling items:    
Depreciation 43,876 44,002
Amortization 8,964 30,474
Amortization of Operating Lease Assets 27,426 28,111
Deferred income taxes (4,451) (311)
Stock-based compensation 19,556 15,331
Impairments   15,166
Other, net 10,281 17,004
Changes in (net of effects from businesses acquired and divested):    
Receivables (558,702) (94,831)
Inventories (359,755) 51,185
Accounts payable 328,574 130,768
Accrued expenses and other, net (41,117) (29,779)
Net cash flows (used) provided by operating activities (263,209) 207,394
Cash flows from financing activities:    
Borrowings under accounts receivable securitization, net 190,400 11,800
Borrowings (repayments) under senior unsecured credit facility, net 109,669 (239,430)
Repayments under bank credit facilities and other debt, net (1,550) (1,480)
Repurchases of common stock (45,570)  
Dividends paid on common stock (47,642) (41,512)
Other, net (6,069) (2,301)
Net cash flows provided (used) for financing activities 199,238 (272,923)
Cash flows from investing activities:    
Purchases of property, plant and equipment (22,116) (30,022)
Acquisitions of assets and businesses   (18,371)
Other, net 68,270 725
Net cash flows provided (used) for investing activities 46,154 (47,668)
Effect on currency exchange rate changes on cash and cash equivalents (14,056) 12,492
Cash and cash equivalents:    
Increase (31,873) (100,705)
Cash and cash equivalents at beginning of year 199,691 477,038
Cash and cash equivalents at end of year $ 167,818 $ 376,333