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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 180.2 $ 352.2
Restricted cash 19.1 1.2
Accounts receivable, less allowances of $10.8 million and $6.2 million, respectively 167.3 105.3
Inventories 959.2 533.5
Prepaid expenses 57.1 54.2
Other current assets 136.0 119.3
Total current assets 1,518.9 1,165.7
Property, plant and equipment, net 1,809.6 1,451.4
Operating lease right-of-use assets, net 1,419.1 1,384.5
Tradenames and trademarks 1,412.7 1,425.2
Other intangible assets, net 91.0 103.4
Goodwill 1,983.7 1,960.1
Other assets, net 355.4 257.5
Total assets 8,590.4 7,747.8
Current liabilities:    
Accounts payable and accrued expenses 580.0 491.2
Accrued employee compensation and benefits 135.2 128.9
Asset-based credit facilities 219.3 9.1
Operating lease liabilities, short-term 76.4 72.3
Construction advances 35.4 22.9
Deferred revenue 94.9 93.9
Other current liabilities 35.0 47.7
Total current liabilities 1,176.2 866.0
Long-term liabilities    
Long-term debt, net (Note 7) 1,176.3 1,025.3
Operating lease liabilities, long-term 1,437.5 1,385.4
Deemed landlord financing obligations, long-term 658.0 460.6
Deferred taxes, net 117.5 163.6
Other long-term liabilities 250.6 164.0
Commitments and contingencies (Note 13)
Shareholders’ equity:    
Preferred stock, $0.01 par value, 3.0 million shares authorized, none issued and outstanding at December 31, 2022 and December 31, 2021 0.0 0.0
Common stock, $0.01 par value, 360.0 million shares authorized, 186.2 million shares issued at December 31, 2022 and December 31, 2021 1.9 1.9
Additional paid-in capital 3,012.7 3,051.6
Retained earnings 852.5 682.2
Accumulated other comprehensive loss (61.5) (27.3)
Less: Common stock held in treasury, at cost, 1.3 million shares and 1.0 million shares at December 31, 2022 and December 31, 2021, respectively (31.3) (25.5)
Total shareholders’ equity 3,774.3 3,682.9
Total liabilities and shareholders’ equity $ 8,590.4 $ 7,747.8