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PARTII
ITEM 8Financial Statements and Supplementary Data
Consolidated Balance Sheets
(In thousands except for share data)
June 27, 2015 June 28, 2014
ASSETS
Current assets
Cash and cash equivalents $ 5,130,044 $ 413,046
Accounts and notes receivable, less allowances of $41,720 and $49,902 3,353,381 3,398,713
Inventories 2,691,823 2,602,018
Deferred income taxes 135,254 141,225
Prepaid expenses and other current assets 93,039 83,745
Prepaid income taxes 90,763 43,225
Total current assets 11,494,304 6,681,972
Plant and equipment at cost, less depreciation 3,982,143 3,985,618
Other assets
Goodwill 1,959,817 1,950,672
Intangibles, less amortization 154,809 177,227
Restricted cash 168,274 145,412
Other assets 229,934 200,212
Total other assets 2,512,834 2,473,523
TOTAL ASSETS $ 17,989,281 $ 13,141,113
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Notes payable $ 70,751 $ 70,975
Accounts payable 2,881,953 2,831,028
Accrued expenses 1,467,610 1,160,850
Current maturities of long-term debt 4,979,301 304,777
Total current liabilities 9,399,615 4,367,630
Other liabilities
Long-term debt 2,271,825 2,357,330
Deferred income taxes 81,591 121,580
Other long-term liabilities 934,722 1,027,878
Total other liabilities 3,288,138 3,506,788
Noncontrolling interest
Commitments and contingencies 41,304 -
Shareholders’ equity
Preferred stock, par value $1 per share
Authorized 1,500,000 shares, issued none
-
-
Common stock, par value $1 per share
Authorized 2,000,000,000 shares, issued 765,174,900 shares
765,175
765,175
Paid-in capital 1,213,999 1,139,218
Retained earnings 8,751,985 8,770,751
Accumulated other comprehensive loss (923,197) (642,663)
Treasury stock, 170,857,231 and 179,050,186 shares, at cost (4,547,738) (4,765,786)
Total shareholders’ equity 5,260,224 5,266,695
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 17,989,281 $ 13,141,113
See Notes to Consolidated Financial Statements