Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.5.0.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jul. 02, 2016
Jul. 04, 2015
Jul. 02, 2016
Jul. 04, 2015
Jan. 02, 2016
Operating activities          
Net income $ 51,015 $ 170,811 $ 311,284 $ 459,520  
Adjustments to reconcile net income to cash provided (used) by operating activities          
Depreciation and amortization     137,472 129,265  
Stock-based compensation     41,560 50,313  
Provision for doubtful accounts     10,573 4,372  
Pension expense in excess of (less than) contributions     19,961 (229,352)  
Estimated loss on sale of business     100,556    
Other, net     (18,958) (22,287)  
Changes in operating assets and liabilities:          
Accounts receivable     124,934 34,778  
Inventories     (215,617) (288,842)  
Accounts payable     (180,457) (179,515)  
Income taxes     (162,857) (87,512)  
Accrued liabilities     (83,050) (64,699)  
Other assets and liabilities     (73,627) (58,759)  
Cash provided (used) by operating activities     11,774 (252,718)  
Investing activities          
Capital expenditures     (82,642) (125,504)  
Software purchases     (17,361) (43,450)  
Other, net     (1,297) 10,631  
Cash used by investing activities     (101,300) (158,323)  
Financing activities          
Net increase in short-term borrowings     954,424 1,139,103  
Payments on long-term debt     (11,536) (2,203)  
Payment of debt issuance costs     (327) (1,475)  
Purchases of treasury stock     (833,846) (731,527)  
Cash dividends paid     (309,583) (271,519)  
Proceeds from issuance of Common Stock, net of shares withheld for taxes     12,417 3,752  
Cash (used) provided by financing activities     (188,451) 136,131  
Effect of foreign currency rate changes on cash and equivalents     8,481 (37,215)  
Net change in cash and equivalents     (269,496) (312,125)  
Cash and equivalents - beginning of year [1]     945,605 971,895 $ 971,895
Cash and equivalents - end of period [1] $ 676,109 $ 659,770 $ 676,109 $ 659,770 $ 945,605
[1] The cash flows related to discontinued operations have not been segregated, and are included in the Consolidated Statements of Cash Flows. The cash and equivalents amounts presented above differ from cash and equivalents in the Consolidated Balance Sheets due to cash included in "Current assets of discontinued operations."