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| Fiscal Year Ended | ||||||
| In millions | January 1, 2000 (53 weeks) |
December 26, 1998 (52 weeks) |
December 27, 1997 (52 weeks) |
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| Cash flows from operating activities: | ||||||
| Net earnings | $635.1 | $384.5 | $88.8 | |||
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Adjustments required to reconcile net earnings to net cash provided by (used in) operating activities: |
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| Depreciation and amortization | 277.9 | 249.7 | 242.6 | |||
| Merger, restructuring and other nonrecurring charges |
— | 188.6 | 466.4 | |||
| Deferred income taxes and other noncash items |
124.8 | 80.6 | (140.4) | |||
| Extraordinary item, net of income tax benefit | — | — | 17.1 | |||
| Change in assets and liabilities, excluding acquisitions: | ||||||
| Increase in accounts receivable, net | (48.9) | (197.9) | (82.5) | |||
| Increase in inventories | (255.0) | (315.0) | (566.1) | |||
| Increase in other current assets | (16.7) | (18.5) | (18.3) | |||
| Increase in accounts payable | 166.8 | 52.6 | 174.7 | |||
| Decrease in accrued expenses | (37.7) | (134.5) | (232.3) | |||
| Decrease in other assets and other
long-term liabilities |
(187.5) | (69.1) | (55.8) | |||
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| Net cash provided by (used in) operating activities | 658.8 | 221.0 | (105.8) | |||
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| Cash flows from investing activities: | ||||||
| Additions to property and equipment | (493.5) | (502.3) | (341.6) | |||
| Acquisitions, net of cash | (33.6) | (62.2) | — | |||
| Proceeds from sale of businesses and
other property and equipment |
28.2 | 50.5 | 192.7 | |||
| Proceeds from sale of investments | — | — | 309.7 | |||
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| Net cash (used in) provided by investing activities | (498.9) | (514.0) | 160.8 | |||
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| Cash flows from financing activities: | ||||||
| (Reductions in) additions to short-term borrowings |
(324.5) | 304.6 | 466.4 | |||
| Proceeds from exercise of stock options | 20.4 | 121.1 | 169.1 | |||
| Additions to (reductions in) long-term debt | 298.1 | (41.9) | (917.2) | |||
| Dividends paid | (104.7) | (102.5) | (87.6) | |||
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| Net cash (used in) provided by financing activities | (110.7) | 281.3 | (369.3) | |||
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| Net increase (decrease) in cash and cash equivalents |
49.2 | (11.7) | (314.3) | |||
| Cash and cash equivalents at beginning of year | 180.8 | 192.5 | 506.8 | |||
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| Cash and cash equivalents at end of year | $230.0 | $180.8 | $192.5 | |||
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See accompanying notes to consolidated financial statements.