Segment Information (Tables)

6 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Corporate & All Other is comprised of corporate overhead and certain operations that are not considered separate reportable segments based on their size. This includes the operations of the Company’s internal logistics unit responsible for managing and allocating inbound logistics revenue and expense. Corporate & All Other may also include capital expenditures for certain information technology projects that are transferred to the segments once placed in service.

The presentation and amounts for the three and six months ended January 1, 2022 have been restated to reflect the change to the measure of segment profit to Adjusted EBITDA described above.

(In millions)	Foodservice		Vistar		Convenience		Corporate & All Other		Eliminations			Consolidated
For the three months ended December 31, 2022
Net external sales	$	6,892.1	$	1,118.3	$	5,864.1	$	24.4	$	—		$	13,898.9
Inter-segment sales		4.5		0.6		—		129.6		(134.7	)		—
Total sales		6,896.6		1,118.9		5,864.1		154.0		(134.7	)		13,898.9
Depreciation and amortization		71.8		10.6		36.5		6.3		—			125.2
Capital expenditures		48.3		1.6		5.9		2.2		—			58.0
For the three months ended January 1, 2022
Net external sales	$	6,210.0	$	906.7	$	5,710.0	$	12.1	$	—		$	12,838.8
Inter-segment sales		4.4		0.6		—		109.3		(114.3	)		—
Total sales		6,214.4		907.3		5,710.0		121.4		(114.3	)		12,838.8
Depreciation and amortization		60.7		13.1		36.6		6.1		—			116.5
Capital expenditures		30.4		3.2		7.1		3.4		—			44.1

(In millions)	Foodservice		Vistar		Convenience		Corporate & All Other		Eliminations			Consolidated
For the six months ended December 31, 2022
Net external sales	$	14,216.1	$	2,207.6	$	12,151.0	$	43.5	$	—		$	28,618.2
Inter-segment sales		10.5		1.4	$	—		262.8		(274.7	)		—
Total sales		14,226.6		2,209.0		12,151.0		306.3		(274.7	)		28,618.2
Depreciation and amortization		137.8		21.3		73.3		12.0		—			244.4
Capital expenditures		76.6		4.5		13.5		3.5		—			98.1
For the six months ended January 1, 2022
Net external sales	$	12,567.7	$	1,752.7	$	8,881.2	$	23.5	$	—		$	23,225.1
Inter-segment sales		8.7		1.1		-		218.5		(228.3	)		—
Total sales		12,576.4		1,753.8		8,881.2		242.0		(228.3	)		23,225.1
Depreciation and amortization		125.0		26.2		51.7		12.3		—			215.2
Capital expenditures		46.7		5.3		10.0		6.5		—			68.5

Schedule of Adjusted EBDITA and Reconciliation to Consolidated Income Before Taxes

EBITDA for each reportable segment and Corporate & All Other is presented below along with a reconciliation to consolidated income before taxes.

	Three Months Ended						Six Months Ended
	December 31, 2022			January 1, 2022			December 31, 2022			January 1, 2022
Foodservice Adjusted EBITDA	$	214.2		$	167.5		$	450.3		$	337.6
Vistar Adjusted EBITDA		92.2			49.7		$	166.6			79.9
Convenience Adjusted EBITDA		69.3			76.5		$	174.9			107.9
Corporate & All Other Adjusted EBITDA		(66.9	)		(52.6	)	$	(128.3	)		(100.6	)
Depreciation and amortization		(125.2	)		(116.5	)	$	(244.4	)		(215.2	)
Interest expense		(55.7	)		(45.2	)	$	(106.1	)		(89.2	)
Change in LIFO reserve		(25.0	)		(45.5	)	$	(51.8	)		(34.2	)
Stock-based compensation expense		(11.4	)		(14.3	)	$	(22.9	)		(24.3	)
Gain (loss) on fuel derivatives		7.3			(1.4	)	$	(2.5	)		(0.1	)
Acquisition, integration & reorganization expenses		(2.8	)		(4.5	)	$	(5.8	)		(37.3	)
Other adjustments (1)		0.2			(2.3	)	$	(3.9	)		(7.6	)
Income before taxes	$	96.2		$	11.4		$	226.1		$	16.9

(1) Other adjustments include asset impairments, gains and losses on disposal of fixed assets, amounts related to favorable and unfavorable leases, foreign currency transaction gains and losses, and franchise tax expense.

Total assets by reportable segment, excluding intercompany receivables between segments, are as follows:

(In millions)	As of December 31, 2022		As of July 2, 2022
Foodservice	$	6,294.0	$	6,455.3
Vistar		1,216.0		1,133.7
Convenience		4,135.9		4,411.6
Corporate & All Other		543.7		377.4
Total assets	$	12,189.6	$	12,378.0