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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Jul. 01, 2022
Jul. 02, 2021
Jul. 03, 2020
Cash flows from operating activities      
Net income (loss) $ 1,500 $ 821 $ (250)
Adjustments to reconcile net income (loss) to net cash provided by operations:      
Depreciation and amortization 929 1,212 1,566
Stock-based compensation 326 318 308
Deferred income taxes 114 (242) (82)
Gain on disposal of assets (16) (70) (7)
Gain on business divestiture (9) 0 0
Amortization of debt issuance costs and discounts 44 40 40
Other non-cash operating activities, net 67 (6) 6
Changes in:      
Accounts receivable, net (546) 121 (1,175)
Inventories (22) (546) 200
Accounts payable (129) 11 192
Accounts payable to related parties (78) (9) 75
Accrued expenses 246 257 103
Income taxes payable (74) 95 81
Accrued compensation (123) 162 124
Other assets and liabilities, net (349) (266) (357)
Net cash provided by operating activities 1,880 1,898 824
Cash flows from investing activities      
Purchases of property, plant and equipment (1,122) (1,146) (647)
Proceeds from the sale of property, plant and equipment 15 143 0
Acquisitions, net of cash acquired 0 0 (22)
Proceeds from dispositions of business 32 0 0
Notes receivable issuances to Flash Ventures (809) (541) (353)
Notes receivable proceeds from Flash Ventures 718 772 1,284
Strategic investments and other, net (26) 7 16
Net cash provided by (used in) investing activities (1,192) (765) 278
Cash flows from financing activities      
Issuance of stock under employee stock plans 122 134 141
Taxes paid on vested stock awards under employee stock plans (90) (56) (72)
Dividends paid to shareholders 0 0 (595)
Repayment of government grants 0 (9) 0
Repayment of debt (3,621) (886) (982)
Proceeds from debt 1,894 0 0
Debt issuance costs (23) 0 0
Net cash used in financing activities (1,718) (817) (1,508)
Effect of exchange rate changes on cash (13) 6 (1)
Net increase (decrease) in cash and cash equivalents (1,043) 322 (407)
Cash and cash equivalents, beginning of year 3,370 3,048 3,455
Cash and cash equivalents, end of year 2,327 3,370 3,048
Supplemental disclosure of cash flow information:      
Cash paid for income taxes 423 348 341
Cash paid for interest 245 283 372
Noncash exchange of Term Loan A-1 for Term Loan A-2 $ 2,104 $ 0 $ 0