XML 54 R8.htm IDEA: XBRL DOCUMENT v3.2.0.727
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Jun. 27, 2015
Jun. 28, 2014
Jun. 29, 2013
Cash flows from operating activities:      
Net income $ 571,913 $ 545,604 $ 450,073
Non-cash and other reconciling items:      
Depreciation 95,645 92,464 88,333
Amortization 51,674 44,724 32,343
Deferred income taxes 18,436 (15,644) (10,019)
Stock-based compensation 62,006 45,916 43,677
Gain on bargain purchase and other (Note 2)     (31,011)
Other, net 87,649 88,687 75,327
Changes in (net of effects from businesses acquired):      
Receivables (204,114) (306,873) (94,203)
Inventories (73,226) (226,141) 225,667
Accounts payable 156,565 48,651 (78,834)
Accrued expenses and other, net (182,665) (79,970) (5,156)
Net cash flows provided by operating activities 583,883 237,418 696,197
Cash flows from financing activities:      
Issuance of notes in a public offering, net of issuance costs     349,258
Repayment of notes   (300,000)  
Borrowings under accounts receivable securitization program, net 35,000 255,000 (310,000)
(Repayments) borrowings of bank and other debt, net (115,173) 38,765 (180,941)
Repurchases of common stock (Note 4) (159,984) (8,616) (207,192)
Dividends paid on common stock (87,330) (82,755)  
Other, net (13,501) 9,109 4,792
Net cash flows used for financing activities (340,988) (88,497) (344,083)
Cash flows from investing activities:      
Purchases of property, plant and equipment (174,374) (123,242) (97,379)
Acquisitions of businesses, net of cash acquired   (116,882) (262,306)
Other, net (11,969) 2,666 6,631
Net cash flows used for investing activities (186,343) (237,458) (353,054)
Effect of exchange rate changes on cash and cash equivalents (52,970) 8,165 3,419
Cash and cash equivalents:      
— increase (decrease) 3,582 (80,372) 2,479
— at beginning of period 928,971 1,009,343 1,006,864
— at end of period $ 932,553 $ 928,971 $ 1,009,343