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CONSOLIDATED CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Jul. 01, 2023
Jul. 02, 2022
Jul. 03, 2021
Cash flows from operating activities:      
Net earnings $ 1,770,124 $ 1,358,768 $ 524,209
Adjustments to reconcile net earnings to cash provided by operating activities:      
Pension settlement charge 315,354 0 0
Share-based compensation expense 95,660 122,315 95,815
Depreciation and amortization 775,604 772,881 737,916
Operating lease asset amortization 113,073 108,052 113,906
Amortization of debt issuance and other debt-related costs 20,007 22,305 26,115
Deferred income taxes (16,434) (64,454) (157,864)
Provision for losses (gains) on receivables 35,655 (15,494) (152,740)
Loss on extinguishment of debt 0 115,603 293,897
Loss on sale of business 0 0 22,737
Other non-cash items (6,907) (12,692) (16,502)
Additional changes in certain assets and liabilities, net of effect of businesses acquired:      
Increase in receivables (270,639) (971,170) (662,345)
Increase in inventories (22,219) (708,610) (551,405)
Decrease (increase) in prepaid expenses and other current assets 2,147 4,805 (32,577)
Increase in accounts payable 195,607 810,451 1,459,222
Increase in accrued expenses 22,368 423,429 167,181
Decrease in operating lease liabilities (133,754) (125,741) (142,351)
Increase (decrease) in accrued income taxes 91,971 (9,775) 118,953
Decrease (increase) in other assets 5,565 (1,082) 18,822
(Decrease) increase in other long-term liabilities (125,580) (38,305) 40,853
Net cash provided by operating activities 2,867,602 1,791,286 1,903,842
Cash flows from investing activities:      
Additions to plant and equipment (793,325) (632,802) (470,676)
Proceeds from sales of plant and equipment 42,147 24,144 59,147
Acquisition of businesses, net of cash acquired (37,384) (1,281,137) 0
Purchase of marketable securities (16,191) (19,318) (53,148)
Proceeds from sales of marketable securities 11,641 16,648 35,979
Other investing activities 8,499 14,259 0
Net cash used for investing activities (784,613) (1,878,206) (428,698)
Cash flows from financing activities:      
Bank and commercial paper borrowings, net 0 0 (826,182)
Other debt borrowings including senior notes 248,977 1,248,207 1,484
Other debt repayments including senior notes (829,828) (494,585) (2,003,135)
Redemption premiums and repayments for senior notes 0 (1,395,668) (999,996)
Cash received from termination of interest rate swap agreements 0 23,127 0
Proceeds from stock option exercises 79,171 128,167 130,374
Stock repurchases (500,093) (499,825) 0
Dividends paid (995,985) (958,937) (917,564)
Other financing activities (58,218) (37,384) (13,209)
Net cash used for financing activities (2,055,976) (1,986,898) (4,628,228)
Effect of exchange rates on cash, cash equivalents and restricted cash 7,643 (31,906) 94,614
Net increase (decrease) in cash, cash equivalents and restricted cash 34,656 (2,105,724) (3,058,470)
Cash, cash equivalents and restricted cash at beginning of period 931,376 3,037,100 6,095,570
Cash, cash equivalents and restricted cash at end of period 966,032 931,376 3,037,100
Cash paid during the period for:      
Interest 510,730 498,349 877,512
Income taxes, net of refunds $ 444,399 $ 450,148 $ 103,547