XML 15 R5.htm IDEA: XBRL DOCUMENT v3.23.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Sep. 09, 2023
Sep. 10, 2022
Cash flows from operating activities:    
Net income $ 684.1 $ 826.9
Adjustments to reconcile net income to net cash provided by operating activities:    
Loss (gain) on property dispositions and impairment losses, net 19.2 (93.4)
Depreciation and amortization 945.2 959.8
Operating lease right-of-use assets amortization 357.0 349.4
LIFO expense 60.2 116.9
Deferred income tax (85.8) 58.3
Contributions to pension and post-retirement benefit plans, net of (income) expense (12.1) (16.1)
Gain on interest rate swaps and energy hedges, net (5.4) (14.9)
Deferred financing costs 8.4 9.1
Equity-based compensation expense 57.2 63.2
Other operating activities (6.9) (10.8)
Changes in operating assets and liabilities:    
Receivables, net (21.3) (92.5)
Inventories, net (326.6) (362.5)
Accounts payable, accrued salaries and wages and other accrued liabilities 35.1 43.5
Operating lease liabilities (274.7) (265.4)
Self-insurance assets and liabilities 40.3 35.1
Other operating assets and liabilities (126.0) 45.5
Net cash provided by operating activities 1,347.9 1,652.1
Cash flows from investing activities:    
Payments for property, equipment and intangibles, including lease buyouts (1,084.3) (1,060.7)
Proceeds from sale of assets 195.1 94.2
Other investing activities (0.9) (11.2)
Net cash used in investing activities (890.1) (977.7)
Cash flows from financing activities:    
Proceeds from issuance of long-term debt, including ABL facility 50.0 0.0
Payments on long-term borrowings, including ABL facility (500.5) (0.2)
Payments of obligations under finance leases (29.1) (29.9)
Dividends paid on common stock (138.0) (126.7)
Dividends paid on convertible preferred stock (0.8) (34.5)
Employee tax withholding on vesting of restricted stock units (35.1) (40.3)
Other financing activities 2.4 5.0
Net cash used in financing activities (651.1) (226.6)
Net (decrease) increase in cash and cash equivalents and restricted cash (193.3) 447.8
Cash and cash equivalents and restricted cash at beginning of period 463.8 2,952.6
Cash and cash equivalents and restricted cash at end of period $ 270.5 $ 3,400.4