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Consolidated Statements of Cash Flows (USD $)
In Millions
12 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2009
Operating activities:      
Net earnings $ 557 [1] $ 603 [1] $ 537
Deduct: Earnings from discontinued operations 270 [1] 77 [1] 65
Earnings from continuing operations 287 [1] 526 [1] 472
Adjustments to reconcile earnings from continuing operations to net cash provided by continuing operations:      
Depreciation and amortization 173 183 188
Share-based compensation 32 60 58
Deferred income taxes 73 24 (1)
Asset impairment costs 2   3
Goodwill impairment costs 258    
Other 10 (15) 5
Changes in:      
Receivables, net (33) (21) (10)
Inventories, net (37) 6 (5)
Other current assets 21 (9) (8)
Accounts payable and accrued liabilities (52) 30 (39)
Income taxes payable (44) (20) 1
Net cash provided by continuing operations 690 764 664
Net cash provided by discontinued operations 8 55 74
Net cash provided by operations 698 819 738
Investing activities:      
Capital expenditures (228) (201) (196)
Proceeds from sale of businesses, net of transaction costs 747    
Businesses acquired, net of cash acquired   (19)  
Other 25 (9)  
Net cash provided by (used for) investing activities from continuing operations 544 (229) (196)
Net cash used for investing activities by discontinued operations   (2) (1)
Net cash provided by (used for) investing activities 544 (231) (197)
Financing activities:      
Notes and loans payable, net 87 (52) (334)
Long-term debt borrowings, net of issuance costs   296 11
Long-term debt repayments (300) (598)  
Treasury stock purchased (655) (150)  
Cash dividends paid (303) (282) (258)
Issuance of common stock for employee stock plans and other 93 80 41
Net cash used for financing activities (1,078) (706) (540)
Effect of exchange rate changes on cash and cash equivalents 8 (1) (9)
Net increase (decrease) in cash and cash equivalents 172 (119) (8)
Cash and cash equivalents:      
Beginning of year 87 206 214
End of year 259 87 206
Supplemental cash flow information:      
Interest paid 131 149 161
Income taxes paid, net of refunds 295 301 275
Non-cash financing activities:      
Dividends declared and accrued, but not paid $ 80 $ 78 $ 70
[1] Fiscal year 2011 earnings (losses) from continuing operations and net earnings included the $258 non-cash goodwill impairment charge recognized in the second fiscal quarter for the Burt's Bees business. Fiscal year 2011 diluted net earnings per share from continuing operations included the impact of $1.86 from this non-cash goodwill impairment charge.