XML 20 R8.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Apr. 28, 2024
Apr. 30, 2023
Cash Flows From Operating Activities:    
Net income $ 101 $ 133
Adjustments to reconcile net cash from operating activities:    
Depreciation and amortization 46 37
Equity-based compensation expense 3 2
Deferred income tax expense 2 0
Other 2 0
Changes in assets and liabilities:    
(Increase) decrease in receivables (170) (135)
(Increase) decrease in inventories (104) 35
(Increase) decrease in other assets (17) (4)
Increase (decrease) in accounts payable 244 98
Increase (decrease) in accrued liabilities (29) (46)
Cash Flows From Investing Activities:    
Capital expenditures (7) (10)
Acquisitions of businesses, net of cash acquired (564) (64)
Other 3 0
Cash Flows From Financing Activities:    
Repurchase and retirement of partnership interests 0 (332)
Distributions to non-controlling interest holders (4) (10)
Payments pursuant to Tax Receivable Agreements (11) (5)
Borrowings on asset-based revolving credit facility 585 130
Repayments on asset-based revolving credit facility (774) 0
Issuance of long-term debt 750 0
Repayments of long-term debt (6) (4)
Debt issuance costs (12) 0
Other (3) (1)
Net cash provided by operating activities 78 120
Net cash used in investing activities (574) (74)
Net cash provided by (used in) financing activities 525 (222)
Increase (decrease) in cash and cash equivalents 29 (176)
Cash and cash equivalents at the beginning of the period 1 177
Cash and cash equivalents at the end of the period 30 1
Cash paid for interest (excluding effects of interest rate swap) 34 28
Cash paid for taxes $ 47 $ 27