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CONSOLIDATED CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Jul. 03, 2021
Jun. 27, 2020
Jun. 29, 2019
Cash flows from operating activities:      
Net earnings $ 524,209 $ 215,475 $ 1,674,271
Adjustments to reconcile net earnings to cash provided by operating activities:      
Share-based compensation expense 95,815 42,234 104,904
Depreciation and amortization 737,916 805,765 763,935
Operating lease asset amortization 113,906 108,376 0
Amortization of debt issuance and other debt-related costs 26,115 22,663 21,382
Deferred income taxes (157,864) (191,317) (126,719)
Provision for losses on receivables (152,740) 404,158 62,946
Loss on extinguishment of debt (293,897) 0 0
Loss (gain) on sale of businesses 22,737 0 (66,309)
Goodwill impairment 0 203,206 0
Impairment of assets held for sale 0 55,942 0
Other non-cash items (16,502) (525) (3,172)
Additional changes in certain assets and liabilities, net of effect of businesses acquired:      
(Increase) decrease in receivables (662,345) 915,717 (203,458)
(Increase) decrease in inventories (551,405) 114,563 (114,667)
(Increase) decrease in prepaid expenses and other current assets (32,577) 9,835 (18,535)
Increase (decrease) in accounts payable 1,459,222 (834,118) 246,420
Increase (decrease) in accrued expenses 167,181 (139,891) 137,517
Decrease in operating lease liabilities (142,351) (124,040) 0
Increase (decrease) in accrued income taxes 118,953 (102,678) 4,929
Decrease (increase) in other assets 18,822 20,666 (21,346)
Increase (decrease) in other long-term liabilities 40,853 92,649 (50,891)
Net cash provided by operating activities 1,903,842 1,618,680 2,411,207
Cash flows from investing activities:      
Additions to plant and equipment (470,676) (720,423) (692,391)
Proceeds from sales of plant and equipment 59,147 28,717 20,941
Acquisition of businesses, net of cash acquired 0 (142,780) (106,616)
Proceeds from sale of business 0 0 149,879
Purchase of marketable securities (53,148) (11,424) (116,440)
Proceeds from sales of marketable securities 35,979 20,532 0
Other investing activities 0 69,071 1,772
Net cash used for investing activities (428,698) (756,307) (742,855)
Cash flows from financing activities:      
Bank and commercial paper (repayments) borrowings, net (826,182) 616,657 132,100
Other debt borrowings 1,484 6,783,562 388,180
Other debt repayments (2,003,135) (1,119,232) (790,250)
Tender and redemption premiums for senior notes (999,996) 0 0
Proceeds from stock option exercises 130,374 227,602 253,135
Stock repurchases 0 (844,699) (1,022,033)
Dividends paid (917,564) (856,312) (775,430)
Other financing activities (13,209) (87,778) (22,976)
Net cash (used for) provided by financing activities (4,628,228) 4,719,800 (1,837,274)
Effect of exchange rates on cash, cash equivalents and restricted cash 94,614 (18,848) (14,677)
Net (decrease) increase in cash, cash equivalents and restricted cash (3,058,470) 5,563,325 (183,599)
Cash, cash equivalents and restricted cash at beginning of period 6,095,570 532,245 715,844
Cash, cash equivalents and restricted cash at end of period 3,037,100 6,095,570 532,245
Supplemental disclosures of cash flow information:      
Interest 877,512 325,308 346,670
Income taxes, net of refunds $ 103,547 $ 376,609 $ 531,103