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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 191.8 $ 180.2
Restricted cash 0.5 19.1
Accounts receivable, less allowances of $11.5 million and $10.8 million, respectively 397.2 167.3
Inventories 839.8 959.2
Prepaid expenses 67.7 57.1
Other current assets 160.9 136.0
Total current assets 1,657.9 1,518.9
Property, plant and equipment, net 2,003.1 1,809.6
Operating lease right-of-use assets, net 1,427.6 1,419.1
Tradenames and trademarks 1,416.6 1,412.7
Other intangible assets, net 83.8 91.0
Goodwill 1,984.2 1,983.7
Other assets, net 391.2 355.4
Total assets 8,964.4 8,590.4
Current liabilities:    
Accounts payable and accrued expenses 444.6 580.0
Accrued employee compensation and benefits 104.8 135.2
Asset-based credit facilities 96.5 219.3
Operating lease liabilities, short-term 80.4 76.4
Construction advances 72.0 35.4
Deferred revenue 98.5 94.9
Other current liabilities 35.8 35.0
Total current liabilities 932.6 1,176.2
Long-term debt, net (Note 5) 1,525.4 1,176.3
Operating lease liabilities, long-term 1,451.5 1,437.5
Deemed landlord financing obligations 765.8 658.0
Deferred taxes, net 77.7 117.5
Other long-term liabilities 278.7 250.6
Commitments and contingencies (Note 11)
Shareholders’ equity:    
Preferred stock, $0.01 par value, 3.0 million shares authorized, none issued and outstanding at June 30, 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 June 30, 2023 and December 31, 2022 1.9 1.9
Additional paid-in capital 3,012.2 3,012.7
Retained earnings 994.9 852.5
Accumulated other comprehensive loss (46.7) (61.5)
Less: Common stock held in treasury, at cost, 1.5 million shares and 1.3 million shares at June 30, 2023 and December 31, 2022, respectively (29.6) (31.3)
Total shareholders’ equity 3,932.7 3,774.3
Total liabilities and shareholders’ equity $ 8,964.4 $ 8,590.4