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CONSOLIDATED CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Jul. 02, 2022
Jul. 03, 2021
Jun. 27, 2020
Cash flows from operating activities:      
Net earnings $ 1,358,768 $ 524,209 $ 215,475
Adjustments to reconcile net earnings to cash provided by operating activities:      
Share-based compensation expense 122,315 95,815 42,234
Depreciation and amortization 772,881 737,916 805,765
Operating lease asset amortization 108,052 113,906 108,376
Amortization of debt issuance and other debt-related costs 22,305 26,115 22,663
Deferred income taxes (64,454) (157,864) (191,317)
Provision for losses on receivables (15,494) (152,740) 404,158
Loss on extinguishment of debt 115,603 293,897 0
Loss on sale of business 0 22,737 0
Goodwill impairment 0 0 203,206
Impairment of assets held for sale 0 0 55,942
Other non-cash items (12,692) (16,502) (525)
Additional changes in certain assets and liabilities, net of effect of businesses acquired:      
(Increase) decrease in receivables (971,170) (662,345) 915,717
(Increase) decrease in inventories (708,610) (551,405) 114,563
Decrease (increase) in prepaid expenses and other current assets 4,805 (32,577) 9,835
Increase (decrease) in accounts payable 810,451 1,459,222 (834,118)
Increase (decrease) in accrued expenses 423,429 167,181 (139,891)
Decrease in operating lease liabilities (125,741) (142,351) (124,040)
(Decrease) increase in accrued income taxes (9,775) 118,953 (102,678)
(Increase) decrease in other assets (1,082) 18,822 20,666
(Decrease) increase in other long-term liabilities (38,305) 40,853 92,649
Net cash provided by operating activities 1,791,286 1,903,842 1,618,680
Cash flows from investing activities:      
Additions to plant and equipment (632,802) (470,676) (720,423)
Proceeds from sales of plant and equipment 24,144 59,147 28,717
Acquisition of businesses, net of cash acquired (1,281,137) 0 (142,780)
Purchase of marketable securities (19,318) (53,148) (11,424)
Proceeds from sales of marketable securities 16,648 35,979 20,532
Other investing activities 14,259 0 69,071
Net cash used for investing activities (1,878,206) (428,698) (756,307)
Cash flows from financing activities:      
Bank and commercial paper (repayments) borrowings, net 0 (826,182) 616,657
Other debt borrowings including senior notes 1,248,207 1,484 6,783,562
Other debt repayments including senior notes (494,585) (2,003,135) (1,119,232)
Redemption premiums and repayments for senior notes (1,395,668) (999,996) 0
Cash received from termination of interest rate swap agreements 23,127 0 0
Proceeds from stock option exercises 128,167 130,374 227,602
Stock repurchases (499,825) 0 (844,699)
Dividends paid (958,937) (917,564) (856,312)
Other financing activities (37,384) (13,209) (87,778)
Net cash (used for) provided by financing activities (1,986,898) (4,628,228) 4,719,800
Effect of exchange rates on cash, cash equivalents and restricted cash (31,906) 94,614 (18,848)
Net (decrease) increase in cash, cash equivalents and restricted cash (2,105,724) (3,058,470) 5,563,325
Cash, cash equivalents and restricted cash at beginning of period 3,037,100 6,095,570 532,245
Cash, cash equivalents and restricted cash at end of period 931,376 3,037,100 6,095,570
Cash paid during the period for:      
Interest 498,349 877,512 325,308
Income taxes, net of refunds $ 450,148 $ 103,547 $ 376,609