XML 17 R7.htm IDEA: XBRL DOCUMENT v3.25.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Dec. 28, 2024
Dec. 30, 2023
Cash flows from operating activities:    
Net income $ 150.4 $ 199.0
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation 211.5 170.1
Amortization of intangible assets 123.9 102.5
Amortization of deferred financing costs 6.0 5.3
Provision for losses on accounts receivables 11.9 11.6
Change in LIFO reserve 30.5 41.0
Stock compensation expense 23.0 21.7
Deferred income tax benefit (16.8) (14.5)
Change in fair value of derivative assets and liabilities 0.2 (3.7)
Other non-cash activities 1.4 (3.0)
Changes in operating assets and liabilities, net    
Accounts receivable 96.4 107.2
Inventories (325.7) 32.7
Income taxes receivable (25.7) (20.7)
Prepaid expenses and other assets 48.5 (40.9)
Trade accounts payable and outstanding checks in excess of deposits 145.7 (46.9)
Accrued expenses and other liabilities (102.2) (7.4)
Net cash provided by operating activities 379.0 554.0
Cash flows from investing activities:    
Purchases of property, plant and equipment (203.9) (147.1)
Net cash paid for acquisitions (2,535.5) (308.1)
Proceeds from sale of property, plant and equipment and other 2.7 18.8
Net cash used in investing activities (2,736.7) (436.4)
Cash flows from financing activities:    
Net borrowings under ABL Facility 1,499.9 39.0
Cash paid for debt issuance, extinguishment and modifications (33.8) 0.0
Payments under finance lease obligations (84.8) (56.5)
Proceeds from employee stock purchase plan 15.0 0.0
Proceeds from exercise of stock options 3.2 1.1
Cash paid for shares withheld to cover taxes (17.2) (18.9)
Repurchases of common stock (33.6) (78.1)
Other financing activities 0.0 (0.3)
Net cash provided by (used in) financing activities 2,348.7 (113.7)
Net (decrease) increase in cash and restricted cash (9.0) 3.9
Cash and restricted cash, beginning of period 27.7 20.0
Cash and restricted cash, end of period 18.7 23.9
Interest 146.3 122.3
Income tax payments net of refunds 84.1 109.0
6.125% Notes due 2032 [Member]    
Cash flows from financing activities:    
Borrowing of Notes due 2032 $ 1,000.0 $ 0.0