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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jul. 28, 2024
Jul. 30, 2023
Cash Flows From Operating Activities:    
Net income $ 227 $ 297
Adjustments to reconcile net cash from operating activities:    
Depreciation and amortization 95 75
Equity-based compensation expense 7 5
Deferred income tax expense 5 2
Other 7 3
Changes in assets and liabilities:    
(Increase) decrease in receivables (263) (253)
(Increase) decrease in inventories (105) 185
(Increase) decrease in other assets (14) 0
Increase (decrease) in accounts payable 203 113
Increase (decrease) in accrued liabilities (36) (25)
Cash Flows From Investing Activities:    
Capital expenditures (16) (15)
Acquisitions of businesses, net of cash acquired (596) (151)
Other 6 (2)
Cash Flows From Financing Activities:    
Repurchase and retirement of equity interests (21) (473)
Distributions to non-controlling interest holders (7) (25)
Payments pursuant to Tax Receivable Agreements (11) (5)
Borrowings on asset-based revolving credit facility 605 235
Repayments on asset-based revolving credit facility (785) (120)
Issuance of long-term debt 750 0
Repayments of long-term debt (11) (8)
Payment of contingent consideration (14) 0
Other (2) 1
Net cash provided by operating activities 126 402
Net cash used in investing activities (618) (164)
Net cash provided by (used in) financing activities 504 (395)
Increase (decrease) in cash and cash equivalents 12 (157)
Cash and cash equivalents at the beginning of the period 1 177
Cash and cash equivalents at the end of the period 13 20
Cash paid for interest (excluding effects of interest rate swap) 95 59
Cash paid for taxes $ 84 $ 61