XML 17 R6.htm IDEA: XBRL DOCUMENT v3.20.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities    
Net earnings $ 1,402 $ 1,159
Adjustments to reconcile net earnings to net cash flows from operating activities:    
Depreciation and amortization 316 287
Deferred income taxes (49) 7
Non-cash stock-based compensation 169 139
Net loss on disposal of property, plant and equipment 13 5
Non-cash restructuring and other charges 1 0
Pension and post-retirement benefit expense 52 41
Pension and post-retirement benefit contributions (25) (33)
Goodwill and other intangible asset impairments 81 777
Changes in fair value of contingent consideration (2) (7)
Gain on previously held equity method investment 0 (553)
Other non-cash items (23) (10)
Changes in operating assets and liabilities:    
Increase in accounts receivable, net (720) (347)
Decrease in inventory and promotional merchandise 67 31
Increase in other assets, net (110) (120)
Increase (decrease) in accounts payable 63 (375)
Increase in other accrued and noncurrent liabilities 750 252
Increase (decrease) in operating lease assets and liabilities, net (7) 2
Net cash flows provided by operating activities 1,978 1,255
Cash flows from investing activities    
Capital expenditures (250) (291)
Proceeds from purchase price refund 32 0
Payments for acquired businesses, net of cash acquired (6) (1,040)
Purchases of investments (40) (5)
Settlement of net investment hedges (133) (14)
Net cash flows used for investing activities (397) (1,350)
Cash flows from financing activities    
Proceeds (repayments) of current debt, net (747) 8
Proceeds from issuance of long-term debt, net 0 1,783
Debt issuance costs 0 (14)
Repayments and redemptions of long-term debt (4) (8)
Net proceeds from stock-based compensation transactions 104 71
Payments to acquire treasury stock (102) (813)
Payments of contingent consideration 0 (3)
Dividends paid to stockholders (368) (330)
Payments to noncontrolling interest holders for dividends (2) (7)
Net cash flows provided by (used for) financing activities (1,119) 687
Effect of exchange rate changes on Cash and cash equivalents 61 17
Net increase in Cash and cash equivalents 523 609
Cash and cash equivalents at beginning of period 5,022 2,987
Cash and cash equivalents at end of period $ 5,545 $ 3,596