Discontinued Operations (Tables)

12 Months Ended

Jul. 01, 2017

Discontinued Operations and Disposal Groups

Schedule of assets and liabilities classified as held for sale

	July 2, 2016
	(Thousands)
Receivables, less allowances of $39,356	$	2,205,213
Inventories		296,310
Prepaid and other current assets		67,359
Total current assets of discontinued operations		2,568,882
Property, plant and equipment, net		159,449
Goodwill		659,368
Intangible assets, net		55,826
Other assets		24,424
Total assets of discontinued operations	$	3,467,949
Accounts payable	$	1,643,004
Accrued expenses and other		161,225
Total current liabilities of discontinued operations		1,804,229
Other Long-term liabilities		43,769
Total liabilities of discontinued operations	$	1,847,998

Schedule of summarized results of discontinued operations

	Years Ended
	July 1,		July 2,		June 27,
	2017		2016		2015
	(Thousands)
Sales	$	5,432,140	$	9,478,682	$	10,269,338
Cost of sales		4,883,945		8,519,117		9,286,353
Gross profit		548,195		959,565		982,985
Selling, general and administrative expenses		430,003		710,251		759,501
Restructuring, integration and other expenses		7,280		34,557		48,957
Operating income		110,912		214,757		174,527
Interest and other expense, net		(24,291)		(22,261)		(33,073)
Income from discontinued operations before income taxes		86,621		192,496		141,454
Income tax expense		47,050		76,874		54,916
Income from discontinued operations, net of taxes		39,571		115,622		86,538
Gain on sale of discontinued operations, net of taxes		222,356		—		—
Income from discontinued operations, net of taxes	$	261,927	$	115,622	$	86,538