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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Jul. 03, 2015
Jun. 27, 2014
Jun. 28, 2013
Cash flows from operating activities      
Net income $ 1,465 $ 1,617 $ 980
Adjustments to reconcile net income to net cash provided by operations:      
Depreciation and amortization 1,114 1,244 1,233
Stock-based compensation 162 156 137
Deferred income taxes 28 (13) 35
Gain On Insurance Recovery (37) (65) 0
Loss on disposal of assets 17 40 0
Non-cash portion of employee termination, asset impairment and other charges 86 62 19
Other non-cash operating activities, net 0 9 0
Changes in:      
Accounts receivable, net 458 (175) 584
Inventories (143) 0 22
Accounts payable (148) (32) (511)
Accrued arbitration award (758) 52 681
Accrued expenses 35 (56) (122)
Accrued compensation (134) 7 77
Other assets and liabilities 97 (30) (16)
Net cash provided by operating activities 2,242 2,816 3,119
Cash flows from investing activities      
Purchases of property, plant and equipment (612) (628) (952)
Acquisitions, net of cash acquired (257) (823) (1)
Purchase of investments (857) (561) (17)
Proceeds from sales and maturities of investments 768 72 0
Other investing activities, net 5 4 0
Net cash used in investing activities (953) (1,936) (970)
Cash flows from financing activities      
Issuance of stock under employee stock plans 212 187 185
Taxes paid on vested stock awards under employee stock plans (64) (32) (25)
Excess tax benefits from employee stock plans 19 60 45
Repurchases of common stock (970) (816) (842)
Dividends paid to shareholders (396) (259) (181)
Repayment of debt (125) (2,517) (230)
Proceeds from debt, net of issuance costs 255 2,992 0
Net cash provided by (used in) financing activities (1,069) (385) (1,048)
Net increase in cash and cash equivalents 220 495 1,101
Cash and cash equivalents, beginning of year 4,804 4,309 3,208
Cash and cash equivalents, end of year 5,024 4,804 4,309
Supplemental disclosure of cash flow information:      
Cash paid for income taxes 47 141 146
Cash paid for interest 45 46 49
Supplemental disclosure of non-cash financing activities:      
Accrual of cash dividend declared $ 116 $ 94 $ 59