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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Jul. 02, 2022
Jul. 03, 2021
Jun. 27, 2020
Cash flows from operating activities:      
Net income (loss) $ 112.5 $ 40.7 $ (114.1)
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation 279.7 213.9 178.5
Amortization of intangible assets 183.1 125.0 97.8
Amortization of deferred financing costs 9.7 12.7 6.5
Provision for losses on accounts receivables 9.0 (23.8) 80.0
Change in LIFO reserve 122.9 36.4 3.9
Stock compensation expense 44.0 25.4 17.9
Deferred income tax expense 4.8 21.2 10.5
Loss on extinguishment of debt 3.2 0.0 0.0
Contingent consideration accretion expense 0.4 1.0 108.6
Other non-cash activities (4.7) 2.7 29.0
Changes in operating assets and liabilities, net      
Accounts receivable (195.1) (296.5) 189.0
Inventories (582.4) (323.1) 97.8
Income taxes receivable 46.7 106.9 (145.3)
Prepaid expenses and other assets (0.4) (34.9) (4.2)
Trade accounts payable and outstanding checks in excess of deposits 182.5 57.8 39.8
Accrued expenses and other liabilities 60.6 99.2 27.9
Net cash provided by (used in) operating activities 276.5 64.6 623.6
Cash flows from investing activities:      
Purchases of property, plant and equipment (215.5) (188.8) (158.0)
Net cash paid for acquisitions (1,650.5) (18.1) (1,989.0)
Proceeds from sale of property, plant and equipment and other 4.5 7.1 1.0
Net cash used in investing activities (1,861.5) (199.8) (2,146.0)
Cash flows from financing activities:      
Net borrowings (payments) under ABL Facility 1,019.7 (16.2) (259.0)
Payment of Additional Junior Term Loan 0.0 (110.0) 110.0
Cash paid for debt issuance, extinguishment and modifications (25.0) (0.1) (46.1)
Net proceeds from issuance of common stock 0.0 0.0 828.1
Payments under finance lease obligations (72.1) (37.9) (24.2)
Payments on financed property, plant and equipment (0.1) (0.8) (2.1)
Net cash paid for acquisitions (6.9) (136.4) (4.8)
Proceeds from employee stock purchase plan 24.6 26.2 0.0
Proceeds from exercise of stock options 2.7 5.0 4.8
Cash paid for shares withheld to cover taxes (11.4) (4.2) (7.9)
Repurchases of common stock 0.0 0.0 (5.0)
Net cash provided by financing activities 1,581.5 (274.4) 1,928.8
Net (decrease) increase in cash and restricted cash (3.5) (409.6) 406.4
Cash and restricted cash, beginning of period 22.2 431.8 25.4
Cash and restricted cash, end of period 18.7 22.2 431.8
Non-cash issuance of Common Stock in exchange for Core-Mark stock 1,008.0 0.0 0.0
Interest 152.4 139.3 102.0
Income tax payments (refunds), net 8.7 (117.4) 28.5
4.250% Notes due 2029 [Member]      
Cash flows from financing activities:      
Borrowing of Notes 1,000.0 0.0 0.0
5.500% Senior Notes due 2024 [Member]      
Cash flows from financing activities:      
Repayment of Notes due 2024 (350.0) 0.0 0.0
5.500% Senior Notes due 2027 [Member]      
Cash flows from financing activities:      
Borrowing of Notes 0.0 0.0 1,060.0
6.875% Senior Notes due 2025 [Member]      
Cash flows from financing activities:      
Borrowing of Notes $ 0.0 $ 0.0 $ 275.0