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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 311.8 $ 393.5
Restricted cash 0.7 0.8
Accounts receivable, less allowances of $11.3 million and $11.6 million, respectively 390.4 200.5
Inventories 647.1 794.4
Prepaid expenses 64.7 55.8
Other current assets 198.4 183.1
Total current assets 1,613.1 1,628.1
Property, plant and equipment, net 2,185.0 2,156.5
Operating lease right-of-use assets, net 1,380.1 1,410.1
Trade names and trademarks 1,418.8 1,421.8
Other intangible assets, net 78.7 83.7
Goodwill 1,992.6 1,988.7
Other assets, net 432.1 431.7
Total assets 9,100.4 9,120.6
Current liabilities:    
Accounts payable and accrued expenses 437.8 480.5
Accrued employee compensation and benefits 114.7 113.1
Asset-based credit facilities 45.1 54.7
Operating lease liabilities, short-term 87.3 86.4
Construction advances 15.6 59.3
Deferred revenue 97.4 110.9
Other current liabilities 39.3 42.7
Total current liabilities 837.2 947.6
Long-term debt, net 1,464.5 1,518.2
Operating lease liabilities, long-term 1,414.4 1,433.4
Deemed landlord financing obligations 1,095.7 980.0
Deferred taxes, net 31.3 36.7
Other long-term liabilities 323.8 326.5
Commitments and contingencies (Note 12)
Shareholders’ equity:    
Preferred stock, $0.01 par value, 3.0 million shares authorized, none issued and outstanding at June 30, 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 June 30, 2024 and December 31, 2023 1.9 1.9
Additional paid-in capital 3,017.2 3,032.7
Retained earnings 1,016.1 947.5
Accumulated other comprehensive loss (49.6) (47.5)
Less: Common stock held in treasury, at cost, 3.2 million shares and 3.3 million shares at June 30, 2024 and December 31, 2023, respectively (52.1) (56.4)
Total shareholders’ equity 3,933.5 3,878.2
Total liabilities and shareholders’ equity $ 9,100.4 $ 9,120.6