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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 income $ 951 $ 616 $ 437
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and impairment 574 652 453
Net periodic benefit cost 15 10 13
Amortization of debt discount and deferred financing costs 10 8 6
Amortization of deferred gain on sale and leasebacks 0 0 (7)
Net gain on disposal of property, plant, and equipment (10) (4) (16)
Net gain on disposal of businesses (44) 0 (159)
Equity in (income) loss of affiliated companies (19) 14 (4)
Net foreign exchange (gain) loss 21 (16) (5)
Share-based compensation 58 34 19
Other, net (83) 0 (78)
Loss from highly inflationary accounting for Argentine subsidiaries 27 38 30
Deferred income taxes, net 4 (114) 73
Dividends received from affiliated companies 4 7 8
Changes in operating assets and liabilities, excluding effect of acquisitions, divestitures, and currency:      
Trade receivables (189) 133 (84)
Inventories (112) 26 3
Prepaid expenses and other current assets (90) (23) (52)
Trade payables 342 (48) 120
Other current liabilities 11 8 97
Accrued employee costs 29 81 (32)
Employee benefit obligations (40) (33) (25)
Other, net 2 (5) (21)
Net cash provided by operating activities 1,461 1,384 776
Cash flows from investing activities:      
(Issuance)/repayment of loans to/from affiliated companies 0 0 (1)
Investments in affiliated companies and other (5) 0 0
Business acquisitions, net of cash acquired 0 0 42
Purchase of property, plant, and equipment, and other intangible assets (468) (400) (332)
Proceeds from divestitures 214 425 216
Proceeds from sales of property, plant, and equipment, and other intangible assets 26 13 85
Net cash (used in) provided by investing activities (233) 38 10
Cash flows from financing activities:      
Proceeds from issuance of shares 30 1 19
Settlement of forward contracts 0 0 (28)
Purchase of treasury shares (8) (67) (20)
Proceeds from (purchase of) non-controlling interest (8) 4 4
Proceeds from issuance of long-term debt 790 3,194 3,229
Repayment of long-term debt (530) (4,225) (3,108)
Net borrowing (repayment) of commercial paper (235) 1,742 (558)
Net borrowing (repayment) of short-term debt (123) (585) 379
Repayment of lease liabilities (2) (2) (2)
Share buyback/cancellations (351) (537) 0
Dividends paid (742) (761) (680)
Net cash used in financing activities (1,179) (1,236) (765)
Effect of exchange rates on cash and cash equivalents 58 (45) 1
Cash and cash equivalents classified as held for sale assets 0 0 (41)
Net increase (decrease) in cash and cash equivalents 107 141 (19)
Cash and cash equivalents balance at beginning of year 743 602 621
Cash and cash equivalents balance at end of year $ 850 $ 743 $ 602