XML 59 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Cash Flows (USD $)
In Millions, unless otherwise specified
12 Months Ended
Jun. 29, 2013
Jun. 30, 2012
Jun. 25, 2011
Cash Flows From (For) Operating Activities      
Net income $ 441.9 $ 401.6 $ 339.2
Adjustments to derive cash flows      
Write-off of in-process research and development 9.0 0 0
Gain on sale of pipeline development projects 0 (3.5) 0
Losses on sales of investments 4.7 0 0
(Gain) loss on sale of business 0 (8.6) 2.2
Restructuring and asset impairment 2.9 8.7 1.0
Depreciation and amortization 160.2 135.3 102.9
Share-based compensation 18.4 19.0 15.4
Income tax benefit from exercise of stock options (1.4) (1.8) (0.6)
Excess tax benefit of stock transactions (15.7) (12.9) (17.2)
Deferred income taxes 5.7 27.5 (56.1)
Subtotal 625.6 565.2 386.7
Changes in operating assets and liabilities, net of asset and business acquisitions and disposition      
Accounts receivable (37.0) (49.3) (107.2)
Inventories (94.6) 5.4 (30.4)
Accounts payable 6.5 (23.6) 57.8
Payroll and related taxes (11.9) 5.0 0.6
Accrued customer programs 12.6 (1.6) 31.4
Accrued liabilities 8.4 4.2 (32.3)
Accrued income taxes 28.9 13.7 56.2
Other 15.3 (5.7) 11.2
Subtotal (71.8) (51.8) (12.8)
Net cash from operating activities 553.8 513.4 374.0
Cash Flows (For) From Investing Activities      
Acquisitions of businesses, net of cash acquired (852.3) (582.3) 2.6
Additions to property and equipment (104.1) (120.2) (99.4)
Proceeds from sale of intangible assets and pipeline development projects 0 10.5 0
Proceeds (return of consideration) from sale of business 0 8.6 (3.6)
Acquisitions of assets 0 (0.8) (10.8)
Proceeds from sale of securities 8.6 0 0.6
Net cash for investing activities (947.8) (684.1) (110.6)
Cash Flows (For) From Financing Activities      
Borrowings (Repayments) of short-term debt, net 5.0 (2.7) (6.2)
Borrowings of long-term debt 637.3 1,089.2 150.0
Repayments of long-term debt (40.0) (610.0) (195.0)
Deferred financing fees (6.0) (5.1) (5.5)
Excess tax benefit of stock transactions 15.7 12.9 17.2
Issuance of common stock 10.7 11.6 14.3
Repurchase of common stock (12.4) (8.2) (8.3)
Cash dividends (33.0) (29.0) (25.3)
Net cash from (for) financing activities 577.2 458.7 (58.8)
Effect of exchange rate changes on cash (5.8) 4.4 (4.3)
Net increase in cash and cash equivalents 177.4 292.4 200.3
Cash and cash equivalents, beginning of period 602.5 310.1 109.8
Cash and cash equivalents, end of period 779.9 602.5 310.1
Cash paid/received during the year for:      
Interest paid 58.5 53.7 47.5
Interest received 3.9 4.0 3.7
Income taxes paid 133.2 82.3 115.6
Income taxes refunded $ 1.3 $ 0.9 $ 1.4