XML 60 R7.htm IDEA: XBRL DOCUMENT v3.21.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities      
Net earnings $ 2,875 $ 696 $ 1,794
Adjustments to reconcile net earnings to net cash flows from operating activities:      
Depreciation and amortization 651 611 557
Deferred income taxes (230) (143) (66)
Non-cash stock-based compensation 327 213 243
Net loss on disposal of property, plant and equipment 23 20 17
Non-cash restructuring and other charges 76 20 0
Pension and post-retirement benefit expense 95 82 72
Pension and post-retirement benefit contributions (59) (73) (53)
Goodwill, other intangible and long-lived asset impairments 188 1,426 90
Changes in fair value of contingent consideration (2) (17) (37)
Gain on liquidation of an investment in a foreign subsidiary, net 0 0 (71)
Gain on previously held equity method investment (847) (534) 0
Other non-cash items (20) (10) (27)
Changes in operating assets and liabilities:      
Decrease (increase) in accounts receivable, net (398) 625 (169)
Increase in inventory and promotional merchandise (140) (3) (375)
Decrease (increase) in other assets, net 13 (212) (62)
Increase (decrease) in accounts payable 440 (308) 319
Increase (decrease) in other accrued and noncurrent liabilities 695 (169) 285
Increase (decrease) in operating lease assets and liabilities, net (56) 56 0
Net cash flows provided by operating activities 3,631 2,280 2,517
Cash flows from investing activities      
Capital expenditures (637) (623) (744)
Proceeds from purchase price refund 32 0 0
Payments for acquired businesses, net of cash acquired (1,065) (1,047) 0
Proceeds from the disposition of investments 0 0 1,229
Purchases of investments (42) (5) (14)
Proceeds from sale of property, plant and equipment 0 0 2
Settlement of net investment hedges (152) (23) 0
Net cash flows provided by (used for) investing activities (1,864) (1,698) 473
Cash flows from financing activities      
Proceeds (repayments) of current debt, net (744) 755 (171)
Proceeds from issuance of long-term debt, net 596 2,481 0
Debt issuance costs (4) (18) 0
Repayments and redemptions of long-term debt (459) (513) (1)
Net proceeds from stock-based compensation transactions 215 180 192
Payments to acquire treasury stock (733) (893) (1,555)
Dividends paid to stockholders (753) (503) (609)
Payments to noncontrolling interest holders for dividends (8) (10) (6)
Payments of contingent consideration (2) (18) (23)
Net cash flows provided by (used for) financing activities (1,892) 1,461 (2,173)
Effect of exchange rate changes on Cash and cash equivalents 61 (8) (11)
Net increase (decrease) in Cash and cash equivalents (64) 2,035 806
Cash and cash equivalents at beginning of year 5,022 2,987 2,181
Cash and cash equivalents at end of year $ 4,958 $ 5,022 $ 2,987