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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 233.9 $ 393.5
Restricted cash 0.7 0.8
Accounts receivable, less allowances of $11.1 million and $11.6 million, respectively 423.9 200.5
Inventories 702.9 794.4
Prepaid expenses 56.8 55.8
Other current assets 175.0 183.1
Total current assets 1,593.2 1,628.1
Property, plant and equipment, net 2,167.6 2,156.5
Operating lease right-of-use assets, net 1,402.8 1,410.1
Other intangible assets, net 80.6 83.7
Trade names and trademarks 1,420.2 1,421.8
Goodwill 1,992.7 1,988.7
Other assets, net 434.9 431.7
Total assets 9,092.0 9,120.6
Current liabilities:    
Accounts payable and accrued expenses 410.5 480.5
Accrued employee compensation and benefits 118.1 113.1
Asset-based credit facilities 52.2 54.7
Operating lease liabilities, short-term 86.7 86.4
Construction advances 61.8 59.3
Deferred revenue 106.7 110.9
Other current liabilities 39.0 42.7
Total current liabilities 875.0 947.6
Long-term debt, net 1,519.2 1,518.2
Operating lease liabilities, long-term 1,430.7 1,433.4
Deemed landlord financing obligations 1,013.7 980.0
Deferred taxes, net 41.9 36.7
Other long-term liabilities 324.5 326.5
Commitments and contingencies (Note 12)
Shareholders’ equity:    
Preferred stock, $0.01 par value, 3.0 million shares authorized, none issued and outstanding at March 31, 2024 and December 31, 2023 0.0 0.0
Common stock, $0.01 par value, 360.0 million shares authorized, and 187.0 million shares issued at both March 31, 2024 and December 31, 2023 1.9 1.9
Additional paid-in capital 3,031.7 3,032.7
Retained earnings 954.0 947.5
Accumulated other comprehensive loss (52.1) (47.5)
Less: Common stock held in treasury, at cost, 2.9 million shares and 3.3 million shares at March 31, 2024 and December 31, 2023, respectively (48.5) (56.4)
Total shareholders’ equity 3,887.0 3,878.2
Total liabilities and shareholders’ equity $ 9,092.0 $ 9,120.6