XML 17 R6.htm IDEA: XBRL DOCUMENT v3.21.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities    
Net earnings $ 1,860 $ 1,155
Adjustments to reconcile net earnings to net cash flows from operating activities:    
Depreciation and amortization 475 447
Deferred income taxes (103) (65)
Non-cash stock-based compensation 255 210
Net loss on disposal of property, plant and equipment 19 6
Non-cash restructuring and other charges 97 19
Pension and post-retirement benefit expense 75 62
Pension and post-retirement benefit contributions (35) (54)
Goodwill, other intangible and long-lived asset impairments 114 1,123
Changes in fair value of contingent consideration (2) (9)
Gain on previously held equity method investment 0 (553)
Other non-cash items (17) (11)
Changes in operating assets and liabilities:    
Increase in accounts receivable, net (506) (48)
Decrease (increase) in inventory and promotional merchandise 13 (41)
Increase in other assets, net (122) (63)
Increase (decrease) in accounts payable 55 (317)
Increase in other accrued and noncurrent liabilities 629 62
Increase (decrease) in operating lease assets and liabilities, net (30) 22
Net cash flows provided by operating activities 2,777 1,945
Cash flows from investing activities    
Capital expenditures (386) (468)
Proceeds from purchase price refund 32 0
Payments for acquired businesses, net of cash acquired (8) (1,047)
Purchases of investments (40) (5)
Settlement of net investment hedges (175) (37)
Net cash flows used for investing activities (577) (1,557)
Cash flows from financing activities    
Proceeds (repayments) of current debt, net (746) 1,514
Proceeds from issuance of long-term debt, net 596 1,783
Debt issuance costs (4) (14)
Repayments and redemptions of long-term debt (6) (511)
Proceeds from stock-based compensation transactions 180 148
Payments to acquire treasury stock (316) (883)
Payments of contingent consideration 0 (3)
Dividends paid to stockholders (561) (502)
Payments to noncontrolling interest holders for dividends (5) (7)
Net cash flows provided by (used for) financing activities (862) 1,525
Effect of exchange rate changes on Cash and cash equivalents 39 (24)
Net increase in Cash and cash equivalents 1,377 1,889
Cash and cash equivalents at beginning of period 5,022 2,987
Cash and cash equivalents at end of period $ 6,399 $ 4,876