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Segment Information (Tables)
 6 Months Ended
Dec. 28, 2024
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment

(In millions)

 

Foodservice

 

 

Vistar

 

 

Convenience

 

 

Corporate
& All Other

 

 

Eliminations

 

 

Consolidated

 

For the three months ended December 28, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net external sales

 

$

8,361.6

 

 

$

1,233.7

 

 

$

5,967.5

 

 

$

75.4

 

 

$

—

 

 

$

15,638.2

 

Inter-segment sales

 

 

6.7

 

 

 

0.9

 

 

 

—

 

 

 

164.8

 

 

 

(172.4

)

 

 

—

 

Total sales

 

 

8,368.3

 

 

 

1,234.6

 

 

 

5,967.5

 

 

 

240.2

 

 

 

(172.4

)

 

 

15,638.2

 

Depreciation and amortization

 

 

115.6

 

 

 

13.3

 

 

 

39.0

 

 

 

14.6

 

 

 

—

 

 

 

182.5

 

Capital expenditures

 

 

89.2

 

 

 

5.2

 

 

 

5.2

 

 

 

7.8

 

 

 

—

 

 

 

107.4

 

For the three months ended December 30, 2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net external sales

 

$

7,073.6

 

 

$

1,201.0

 

 

$

5,941.4

 

 

$

79.7

 

 

$

—

 

 

$

14,295.7

 

Inter-segment sales

 

 

5.7

 

 

 

0.9

 

 

 

—

 

 

 

148.0

 

 

 

(154.6

)

 

 

—

 

Total sales

 

 

7,079.3

 

 

 

1,201.9

 

 

 

5,941.4

 

 

 

227.7

 

 

 

(154.6

)

 

 

14,295.7

 

Depreciation and amortization

 

 

72.7

 

 

 

12.8

 

 

 

37.2

 

 

 

20.6

 

 

 

—

 

 

 

143.3

 

Capital expenditures

 

 

61.6

 

 

 

15.2

 

 

 

7.9

 

 

 

9.2

 

 

 

—

 

 

 

93.9

 

 

(In millions)

 

Foodservice

 

 

Vistar

 

 

Convenience

 

 

Corporate
& All Other

 

 

Eliminations

 

 

Consolidated

 

For the Six Months Ended December 28, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net external sales

 

$

16,046.6

 

 

$

2,518.4

 

 

$

12,330.9

 

 

$

157.8

 

 

$

—

 

 

$

31,053.7

 

Inter-segment sales

 

 

13.8

 

 

 

1.9

 

 

 

0.3

 

 

 

338.5

 

 

 

(354.5

)

 

 

—

 

Total sales

 

 

16,060.4

 

 

 

2,520.3

 

 

 

12,331.2

 

 

 

496.3

 

 

 

(354.5

)

 

 

31,053.7

 

Depreciation and amortization

 

 

200.6

 

 

 

27.7

 

 

 

77.6

 

 

 

29.5

 

 

 

—

 

 

 

335.4

 

Capital expenditures

 

 

166.5

 

 

 

11.2

 

 

 

15.6

 

 

 

10.6

 

 

 

—

 

 

 

203.9

 

For the Six Months Ended December 30, 2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net external sales

 

$

14,345.3

 

 

$

2,450.6

 

 

$

12,278.4

 

 

$

160.0

 

 

$

—

 

 

$

29,234.3

 

Inter-segment sales

 

 

11.0

 

 

 

1.7

 

 

 

—

 

 

 

308.1

 

 

 

(320.8

)

 

 

—

 

Total sales

 

 

14,356.3

 

 

 

2,452.3

 

 

 

12,278.4

 

 

 

468.1

 

 

 

(320.8

)

 

 

29,234.3

 

Depreciation and amortization

 

 

143.3

 

 

 

23.2

 

 

 

74.9

 

 

 

31.2

 

 

 

—

 

 

 

272.6

 

Capital expenditures

 

 

92.6

 

 

 

18.6

 

 

 

11.9

 

 

 

24.0

 

 

 

—

 

 

 

147.1

 
Schedule of Adjusted EBDITA and Reconciliation to Consolidated Income Before Taxes

Segment Adjusted 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 28, 2024

 

 

December 30, 2023

 

 

December 28, 2024

 

 

December 30, 2023

 

 

Foodservice Adjusted EBITDA

 

$

289.9

 

 

$

224.1

 

 

$

569.9

 

 

$

470.1

 

 

Vistar Adjusted EBITDA

 

 

93.9

 

 

 

93.6

 

 

 

177.1

 

 

 

182.2

 

 

Convenience Adjusted EBITDA

 

 

107.3

 

 

 

83.5

 

 

 

212.6

 

 

 

178.2

 

 

Corporate & All Other Adjusted EBITDA

 

 

(68.1

)

 

 

(55.8

)

 

 

(124.7

)

 

 

(101.3

)

 

Depreciation and amortization

 

 

(182.5

)

 

 

(143.3

)

 

 

(335.4

)

 

 

(272.6

)

 

Interest expense

 

 

(100.2

)

 

 

(61.4

)

 

 

(167.0

)

 

 

(117.5

)

 

Change in LIFO reserve

 

 

(17.8

)

 

 

(21.8

)

 

 

(30.5

)

 

 

(41.0

)

 

Stock-based compensation expense

 

 

(11.7

)

 

 

(11.0

)

 

 

(23.0

)

 

 

(21.7

)

 

Gain (loss) on fuel derivatives

 

 

0.8

 

 

 

(1.8

)

 

 

(0.6

)

 

 

1.7

 

 

Acquisition, integration & reorganization expenses

 

 

(51.3

)

 

 

(3.9

)

 

 

(70.4

)

 

 

(13.7

)

 

Other adjustments (1)

 

 

(3.6

)

 

 

9.5

 

 

 

(4.4

)

 

 

10.6

 

 

Income before taxes

 

$

56.7

 

 

$

111.7

 

 

$

203.6

 

 

$

275.0

 

 
(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 28, 2024

 

 

As of
June 29, 2024

 

Foodservice

 

$

10,543.7

 

 

$

6,996.8

 

Vistar

 

 

1,566.5

 

 

 

1,519.1

 

Convenience

 

 

4,182.2

 

 

 

4,080.9

 

Corporate & All Other

 

 

804.6

 

 

 

796.1

 

Total assets

 

$

17,097.0

 

 

$

13,392.9