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Condensed Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Oct. 30, 2022
Oct. 31, 2021
Cash Flows From Operating Activities:    
Net income $ 497,000,000 $ 146,000,000
Adjustments to reconcile net cash from operating activities:    
Depreciation and amortization 110,000,000 112,000,000
Equity-based compensation expense 9,000,000 22,000,000
Loss on debt modification and extinguishment 0 49,000,000
Other (10,000,000) (6,000,000)
Changes in assets and liabilities:    
(Increase) decrease in receivables (373,000,000) (374,000,000)
(Increase) decrease in inventories (255,000,000) (305,000,000)
(Increase) decrease in other assets (10,000,000) (8,000,000)
Increase (decrease) in accounts payable 84,000,000 279,000,000
Increase (decrease) in accrued liabilities 42,000,000 19,000,000
Net cash provided by (used in) operating activities 94,000,000 (66,000,000)
Cash Flows From Investing Activities:    
Capital expenditures (20,000,000) (12,000,000)
Acquisitions of businesses, net of cash acquired (114,000,000) (172,000,000)
Settlement of interest rate swap 0 (5,000,000)
Proceeds from the sale of property and equipment 1,000,000 0
Net cash used in investing activities (133,000,000) (189,000,000)
Cash Flows From Financing Activities:    
IPO proceeds, net of underwriting discounts and commissions 0 664,000,000
Offering proceeds from underwriters’ option, net of underwriting discounts and commissions 0 100,000,000
Payments for offering costs 0 (8,000,000)
Distributions to non-controlling interest holders (39,000,000) (31,000,000)
Borrowings on asset-based revolving credit facility 244,000,000 0
Repayments on asset-based revolving credit facility (154,000,000) 0
Issuance of long-term debt 0 1,500,000,000
Repayments of long-term debt (11,000,000) (2,315,000,000)
Payment of debt redemption premiums 0 (18,000,000)
Debt issuance costs (2,000,000) (13,000,000)
Net cash provided by (used in) financing activities 38,000,000 (121,000,000)
Decrease in cash and cash equivalents (1,000,000) (376,000,000)
Cash and cash equivalents at the beginning of the period 1,000,000 381,000,000
Cash and cash equivalents at the end of the period 0 5,000,000
Cash paid for interest 47,000,000 114,000,000
Cash paid for taxes $ 107,000,000 $ 29,000,000