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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Mar. 30, 2024
Apr. 01, 2023
Cash flows from operating activities:    
Net income $ 269.4 $ 247.1
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation 260.8 232.2
Amortization of intangible assets 151.1 137.0
Amortization of deferred financing costs 8.0 7.7
Provision for losses on accounts receivables 15.6 9.5
Change in LIFO reserve 50.5 68.3
Stock compensation expense 31.7 33.1
Deferred income tax (benefit) expense (5.4) 5.4
Change in fair value of derivative assets and liabilities (4.5) 19.9
Other non-cash activities (4.3) (2.7)
Changes in operating assets and liabilities, net    
Accounts receivable 37.1 18.0
Inventories 257.2 170.5
Income taxes receivable (32.5) (31.4)
Prepaid expenses and other assets (71.2) (2.1)
Trade accounts payable and outstanding checks in excess of deposits 27.8 (141.2)
Accrued expenses and other liabilities (34.6) (114.1)
Net cash provided by operating activities 956.7 657.2
Cash flows from investing activities:    
Purchases of property, plant and equipment (244.4) (177.2)
Net cash paid for acquisitions (307.9) (63.9)
Proceeds from sale of property, plant and equipment and other 19.3 21.6
Net cash used in investing activities (533.0) (219.5)
Cash flows from financing activities:    
Net payments under ABL Facility (249.1) (380.6)
Payments under finance lease obligations (87.8) (64.7)
Proceeds from employee stock purchase plan 15.5 14.3
Proceeds from exercise of stock options 1.7 2.9
Cash paid for shares withheld to cover taxes (21.5) (12.6)
Repurchases of common stock (78.1) 0.0
Other financing activities (0.3) (0.3)
Net cash used in financing activities (419.6) (441.0)
Net increase (decrease) in cash and restricted cash 4.1 (3.3)
Cash and restricted cash, beginning of period 20.0 18.7
Cash and restricted cash, end of period 24.1 15.4
Interest 173.4 152.8
Income tax payments net of refunds $ 137.0 $ 112.6