Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Oct. 01, 2022
Oct. 02, 2021
OPERATING ACTIVITIES    
Net income (loss) $ (174,392) $ 788,298
Income from discontinued operations, net of tax 0 170,273
Income (loss) from continuing operations, net of tax (174,392) 618,025
Adjustments to reconcile net income (loss) to cash used by operating activities:    
Impairment of goodwill and intangible assets 421,922 0
Depreciation and amortization 130,623 134,553
Reduction in the carrying amount of right-of-use assets 185,880 208,687
Stock-based compensation 37,474 44,283
Provision for doubtful accounts 1,004 3,345
Pension expense in excess of (less than) contributions 85,779 (12,312)
Other, net (7,088) (191,547)
Changes in operating assets and liabilities:    
Accounts receivable (461,904) (502,675)
Inventories (1,434,470) (412,058)
Accounts payable 494,424 72,757
Income taxes (193,671) 112,331
Accrued liabilities 138,510 233,369
Operating lease right-of-use assets and liabilities (190,171) (228,969)
Other assets and liabilities 52,123 (257,016)
Cash used by operating activities - continuing operations (913,957) (177,227)
Cash provided by operating activities - discontinued operations 0 6,090
Cash used by operating activities (913,957) (171,137)
INVESTING ACTIVITIES    
Business acquisitions, net of cash received 0 3,760
Proceeds from sale of businesses, net of cash sold 0 616,529
Proceeds from sale of short-term investments 0 598,806
Capital expenditures (89,958) (144,582)
Software purchases (47,858) (42,119)
Other, net 6,112 20,491
Cash provided (used) by investing activities - continuing operations (131,704) 1,052,885
Cash used by investing activities - discontinued operations 0 (525)
Cash provided (used) by investing activities (131,704) 1,052,360
FINANCING ACTIVITIES    
Contingent consideration payment (56,976) 0
Net increase (decrease) in short-term borrowings 1,357,284 (889)
Payments on long-term debt (500,522) (508)
Payment of debt issuance costs (807) 0
Cash dividends paid (388,284) (384,427)
Proceeds from issuance of Common Stock, net of (payments) for tax withholdings (1,931) 25,971
Cash provided (used) by financing activities 408,764 (359,853)
Effect of foreign currency rate changes on cash, cash equivalents and restricted cash (85,888) (10,958)
Net change in cash, cash equivalents and restricted cash (722,785) 510,412
Cash, cash equivalents and restricted cash – beginning of year 1,277,082 851,205
Cash, cash equivalents and restricted cash – end of period $ 554,297 $ 1,361,617