Acquisitions and divestitures (Tables)

12 Months Ended

Jun. 28, 2014

Jun. 29, 2013

2014 Acquisitions [Member]

three businesses with historical annualized sales of approximately $492.0 million. Cash paid for acquisitions during fiscal 2014 was $116.9 million, net of cash acquired and contingent consideration. The Company has not disclosed the pro-forma impact of the fiscal 2014 acquisitions as such impact was not material.

The gross consideration for the acquisitions was $219.7 million, which consisted of the following (in thousands):



Cash paid	$	181,645
Contingent consideration	38,081
Total consideration	$	219,726

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed



	Acquisition Method Values
	(Thousands)
Cash	$	64,763
Receivables	36,216
Inventories	95,202
Other current assets	6,597
Property, plant and equipment and other non-current assets	28,155
Intangible assets	53,502
Total identifiable assets acquired	284,435

Accounts payable, accrued liabilities and other current liabilities	(66,848		)
Short-term debt	(45,942		)
Other long-term liabilities	(14,535		)
Total identifiable liabilities assumed	(127,325		)
Net identifiable assets acquired	157,110
Goodwill	62,616
Net assets acquired	$	219,726

2013 Acquisitions [Member]

Business Acquisition [Line Items]

Schedule of Contingent Consideration

During fiscal 2013, the Company acquired 12 businesses with aggregate annualized sales of approximately $1.18 billion for a total consideration of $309.0 million, which consisted of the following (in thousands):



Cash paid	$	297,484
Contingent consideration	11,467
Total consideration	$	308,951

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the respective acquisition dates (in thousands):



Cash	$	29,276
Receivables	226,743
Inventories	91,791
Other current assets	33,689
Property, plant and equipment	25,311
Other assets	47,292
Total identifiable assets acquired	454,102

Accounts payable, accrued liabilities and other current liabilities	(157,986		)
Long-term debt	(66,367		)
Other long-term liabilities	(45,640		)
Total identifiable liabilities assumed	(269,993		)
Net identifiable assets acquired	184,109
Goodwill	157,521
Bargain purchase recognized	(32,679		)
Net assets acquired	$	308,951

Business Acquisition, Pro Forma Information

Supplemental information on an unaudited pro forma basis, as if the fiscal 2013 acquisitions had been consummated as of July 3, 2011, is presented as follows:



	Pro Forma Results For Years Ended
	June 29, 2013		June 30, 2012
	(Millions)
Sales	$	25,771	$	26,872
Net income	$	454	$	587

2012 Acquisitions [Member]

Business Acquisition [Line Items]

Schedule of Contingent Consideration

During fiscal 2012, the Company acquired 11 businesses with aggregate annualized sales of approximately $912.0 million for total consideration of $413.6 million, which consisted of the following (in thousands):



Cash paid	$	390,410
Contingent consideration	23,175
Total consideration	$	413,585

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the respective acquisition dates (in thousands):



Cash	$	75,016
Receivables	132,195
Inventories	59,463
Other current assets	23,936
Property, plant and equipment	9,729
Other assets	104,368
Total identifiable assets acquired	404,707

Accounts payable, accrued liabilities and other current liabilities	(230,747		)
Other long-term liabilities	(2,483		)
Total liabilities assumed	(233,230		)
Net identifiable assets acquired	171,477
Goodwill	246,425
Bargain purchase recognized	(4,317		)
Net assets acquired	$	413,585

Business Acquisition, Pro Forma Information

Supplemental information on an unaudited pro forma basis, as if the acquisitions had been consummated as of July 3, 2011, is presented as follows:



	Pro Forma Results For Year Ended
	June 30, 2012
	(Millions)
Sales	$	26,052
Net income	$	568