US Foods Holding Corp. Condensed Financial Information (Tables)

12 Months Ended

Dec. 31, 2022

Condensed Financial Information Disclosure [Abstract]

Schedule of Condensed Balance Sheet

Condensed Parent Company Balance Sheets

(In millions, except par value)

	December 31, 2022		January 1, 2022
ASSETS
Investment in subsidiary	4,492		$	4,266
Other assets	4		4
Total assets	$	4,496	$	4,270
LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS' EQUITY
Deferred tax liabilities	$	1	$	1
Total liabilities	1		1
Commitments and Contingencies (Note 22)
Mezzanine equity:
Series A convertible preferred stock, $0.01 par value—25 shares authorized;     0.5 issued and outstanding as of December 31, 2022 and January 1, 2022	534		534
Shareholders’ Equity
Common stock, $0.01 par value—600 shares authorized;     225 and 223 issued and outstanding as of December 31, 2022 and January 1, 2022	2		2
Additional paid-in capital	3,036		2,970
Retained earnings	1,010		782
Accumulated other comprehensive loss	(73)		(19)
Treasury Stock, .5 and 0 shares, respectively	(14)		—
Total shareholders’ equity	3,961		3,735
Total liabilities, mezzanine equity and shareholders’ equity	$	4,496	$	4,270

Schedule of Condensed Statement of Comprehensive Income (Loss)

Condensed Parent Company Statements of Comprehensive Income

	Fiscal Years Ended
	December 31, 2022		January 1, 2022		January 2, 2021
Income before income taxes	$	—	$	—	$	—
Income tax benefit	—		(4)		(5)
Income before equity in net earnings of subsidiary	—		4		5
Equity in net earnings of subsidiary	265		160		(231)
Net income (loss)	265		164		(226)
Other comprehensive income—net of tax:
Changes in retirement benefit obligations	(54)		10		23
Unrecognized gain (loss) on interest rate swaps	—		5		(3)
Comprehensive income (loss)	$	211	$	179	$	(206)
Net income (loss)	$	265	$	164	$	(226)
Series A convertible preferred stock dividends	(37)		(43)		(28)
Net income (loss) available to common shareholders	$	228	$	121	$	(254)

Schedule of Condensed Statements of Cash Flows

Condensed Parent Company Statements of Cash Flows

	Fiscal Years Ended
	December 31, 2022		January 1, 2022		January 2, 2021
Cash flows from operating activities:
Net income (loss)	$	265	$	164	$	(226)
Adjustments to reconcile net income to net cash    provided by operating activities:
Equity in net earnings of subsidiary	(265)		(160)		231
Changes in operating assets and liabilities:
Increase in other assets	—		(4)		—
Decrease in accrued expenses and other liabilities	—		—		(5)
Net cash used in operating activities	—		—		—
Cash flows from investing activities:
Investment in subsidiary	51		28		(491)
Net cash provided by (used in) investing activities	51		28		(491)
Cash flows from financing activities:
Net proceeds from issuance of Series A convertible preferred stock	—		—		491
Dividends paid on Series A convertible preferred stock	(37)		(28)		—
Repurchase of common stock	(14)		—		—
Net cash (used in) provided by financing activities	(51)		(28)		491
Net increase in cash, cash equivalents and restricted cash	—		—		—
Cash, cash equivalents and restricted cash—beginning of year	—		—		—
Cash, cash equivalents and restricted cash—end of year	$	—	$	—	$	—