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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Jul. 02, 2022
Jul. 03, 2021
Jun. 27, 2020
Cash flows from operating activities:      
Net income (loss) $ 692,379 $ 193,114 $ (31,081)
Non-cash and other reconciling items:      
Depreciation 87,367 90,884 101,100
Amortization 14,959 41,033 81,139
Amortization of Operating Lease Assets 52,881 56,782 60,656
Deferred income taxes (52,513) 14,650 (34,264)
Stock-based compensation 36,738 29,339 26,832
Impairments   15,166 159,346
Other, net 34,116 22,512 31,343
Changes in (net of effects from businesses acquired and divested):      
Receivables (1,132,039) (615,353) 221,486
Inventories (1,218,871) (409,075) 266,791
Accounts payable 1,131,225 620,973 (106,990)
Accrued expenses and other, net 134,448 30,924 (46,176)
Net cash flows (used) provided by operating activities (219,310) 90,949 730,182
Cash flows from financing activities:      
Issuance of notes, net of discounts 299,973 297,660  
Repayment of public notes (354,336) (305,077) (302,038)
Borrowings (repayments) under accounts receivable securitization, net 274,900 22,900 (227,300)
Borrowings (repayments) under senior unsecured credit facility, net   (231,680) 223,058
Borrowings (repayments) under bank credit facilities and other debt, net 235,047 (2,789) (2,123)
Repurchases of common stock (184,382)   (237,842)
Dividends paid on common stock (98,490) (84,309) (83,975)
Other, net (16,653) (10,718) (14,330)
Net cash flows provided (used) for financing activities 156,059 (314,013) (644,550)
Cash flows from investing activities:      
Purchases of property, plant and equipment (48,900) (50,363) (73,516)
Acquisitions of assets and businesses   (18,381) (51,509)
Proceeds from sale of business 90,384    
Other, net 9,815 7,548 (9,992)
Net cash flows provided (used) for investing activities 51,299 (61,196) (135,017)
Effect on currency exchange rate changes on cash and cash equivalents (34,046) 6,913 (19,682)
Cash and cash equivalents:      
Decrease (45,998) (277,347) (69,067)
Cash and cash equivalents at beginning of year 199,691 477,038 546,105
Cash and cash equivalents at end of year $ 153,693 $ 199,691 $ 477,038