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CONSOLIDATED CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jan. 02, 2022
Dec. 26, 2020
Cash flows from operating activities:    
Net earnings $ 545,454 $ 284,189
Adjustments to reconcile net earnings to cash provided by operating activities:    
Share-based compensation expense 60,254 47,122
Depreciation and amortization 377,763 365,332
Operating lease asset amortization 54,856 55,231
Amortization of debt issuance and other debt-related costs 11,014 12,946
Loss on extinguishment of debt 115,603 0
Deferred income taxes (72,892) (107,821)
Provision for losses on receivables 1,508 (94,242)
Loss on sale of business 0 12,043
Other non-cash items 1,103 (9,312)
Additional changes in certain assets and liabilities, net of effect of businesses acquired:    
(Increase) decrease in receivables (385,179) 192,121
(Increase) decrease in inventories (357,908) 37,345
Increase in prepaid expenses and other current assets (12,560) (22,519)
Increase in accounts payable 83,214 84,708
Increase in accrued expenses 95,388 20,108
Decrease in operating lease liabilities (65,123) (63,496)
(Decrease) increase in accrued income taxes (111,227) 63,385
(Increase) decrease in other assets (4,255) 20,576
Increase in other long-term liabilities 40,034 38,962
Net cash provided by operating activities 377,047 936,678
Cash flows from investing activities:    
Additions to plant and equipment (181,374) (163,944)
Proceeds from sales of plant and equipment 5,450 15,510
Acquisition of businesses, net of cash acquired (769,658) 0
Purchase of marketable securities (18,539) (36,121)
Proceeds from sales of marketable securities 16,648 20,797
Other investing activities 6,651 0
Net cash used for investing activities (940,822) (163,758)
Cash flows from financing activities:    
Bank and commercial paper borrowings, net 0 6,463
Other debt borrowings including senior notes 1,249,995 4,094
Other debt repayments (23,050) (773,663)
Redemption premiums and repayments of senior notes (1,395,668) 0
Debt issuance costs (15,547) 0
Cash received from termination of interest rate swap agreements 23,127 0
Proceeds from stock option exercises 36,083 66,635
Stock repurchases (415,824) 0
Dividends paid (481,386) (458,717)
Other financing activities (5,297) (873)
Net cash used for financing activities (1,027,567) (1,156,061)
Effect of exchange rates on cash, cash equivalents and restricted cash (10,868) 77,056
Net decrease in cash, cash equivalents and restricted cash (1,602,210) (306,085)
Cash, cash equivalents and restricted cash at beginning of period 3,037,100 6,095,570
Cash, cash equivalents and restricted cash at end of period 1,434,890 5,789,485
Cash paid during the period for:    
Interest 258,436 290,926
Income taxes, net of refunds $ 342,628 $ 110,453