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Consolidated Balance Sheets - USD ($)
$ in Millions
Apr. 01, 2023
Jul. 02, 2022
Current assets:    
Cash $ 8.2 $ 11.6
Accounts receivable, less allowances of $60.8 and $54.2 2,283.9 2,307.4
Inventories, net 3,247.3 3,428.6
Income taxes receivable 62.1 34.0
Prepaid expenses and other current assets 231.5 240.4
Total current assets 5,833.0 6,022.0
Goodwill 2,302.8 2,279.2
Other intangible assets, net 1,073.6 1,195.6
Property, plant and equipment, net 2,197.2 2,134.5
Operating lease right-of-use assets 660.2 623.4
Other assets 122.7 123.3
Total assets 12,189.5 12,378.0
Current liabilities:    
Trade accounts payable and outstanding checks in excess of deposits 2,477.4 2,559.5
Accrued expenses and other current liabilities 780.6 882.6
Finance lease obligations—current installments 94.0 79.9
Operating lease obligations—current installments 104.9 111.0
Total current liabilities 3,456.9 3,633.0
Long-term debt 3,532.4 3,908.8
Deferred income tax liability, net 430.9 424.3
Finance lease obligations, excluding current installments 396.1 366.7
Operating lease obligations, excluding current installments 582.4 530.8
Other long-term liabilities 209.1 214.9
Total liabilities 8,607.8 9,078.5
Commitments and contingencies (Note 11)
Shareholders’ equity:    
Common Stock: $0.01 par value per share, 1.0 billion shares authorized, 154.5 million shares issued and outstanding as of April 1, 2023; 153.6 million shares issued and outstanding as of July 2, 2022 1.5 1.5
Additional paid-in capital 2,851.4 2,816.8
Accumulated other comprehensive income, net of tax expense of $4.2 and $3.8 11.9 11.4
Retained earnings 716.9 469.8
Total shareholders’ equity 3,581.7 3,299.5
Total liabilities and shareholders’ equity $ 12,189.5 $ 12,378.0