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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Mar. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 180.6 $ 180.2
Restricted cash 0.5 19.1
Accounts receivable, less allowances of $10.7 million and $10.8 million, respectively 454.8 167.3
Inventories 929.8 959.2
Prepaid expenses 59.5 57.1
Other current assets 129.6 136.0
Total current assets 1,754.8 1,518.9
Property, plant and equipment, net 1,914.2 1,809.6
Operating lease right-of-use assets, net 1,411.3 1,419.1
Tradenames and trademarks 1,415.3 1,412.7
Other intangible assets, net 87.6 91.0
Goodwill 1,983.9 1,983.7
Other assets, net 374.3 355.4
Total assets 8,941.4 8,590.4
Current liabilities:    
Accounts payable and accrued expenses 585.8 580.0
Accrued employee compensation and benefits 103.9 135.2
Asset-based credit facilities 110.3 219.3
Operating lease liabilities, short-term 80.0 76.4
Construction advances 51.2 35.4
Deferred revenue 102.8 94.9
Other current liabilities 40.6 35.0
Total current liabilities 1,074.6 1,176.2
Long-term debt, net (Note 5) 1,529.5 1,176.3
Operating lease liabilities, long-term 1,430.9 1,437.5
Deemed landlord financing obligations, long-term 707.5 658.0
Deferred taxes, net 119.9 117.5
Other long-term liabilities 267.9 250.6
Commitments and contingencies (Note 11)
Shareholders’ equity:    
Preferred stock, $0.01 par value, 3.0 million shares authorized, none issued and outstanding at March 31, 2023 and December 31, 2022 0.0 0.0
Common stock, $0.01 par value, 360.0 million shares authorized, and 186.2 million shares issued at March 31, 2023 and December 31, 2022 1.9 1.9
Additional paid-in capital 3,002.6 3,012.7
Retained earnings 877.5 852.5
Accumulated other comprehensive loss (56.5) (61.5)
Less: Common stock held in treasury, at cost, 0.6 million shares and 1.3 million shares at March 31, 2023 and December 31, 2022, respectively (14.4) (31.3)
Total shareholders’ equity 3,811.1 3,774.3
Total liabilities and shareholders’ equity $ 8,941.4 $ 8,590.4