CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) shares in Millions, $ in Millions	Jun. 30, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 683.5	$ 445.0
Restricted cash	0.0	0.7
Accounts receivable, less allowance of $5.7 million and $8.9 million, respectively	338.0	175.7
Inventories	608.9	757.3
Prepaid expenses	73.7	61.7
Other current assets	177.2	160.3
Total current assets	1,881.3	1,600.7
Property, plant and equipment, net	2,224.4	2,219.0
Operating lease right-of-use assets, net	1,266.8	1,339.2
Trade names and trademarks	1,110.6	1,303.9
Other intangible assets, net	52.9	68.7
Goodwill	619.9	620.2
Other assets, net	451.4	484.4
Total assets	7,607.3	7,636.1
Current liabilities:
Accounts payable and accrued expenses	379.2	451.3
Accrued employee compensation and benefits	106.9	113.4
Convertible notes, net	257.0	0.0
Asset-based credit facilities	48.6	25.4
Operating lease liabilities, short-term	79.7	89.3
Construction advances	22.9	6.0
Deferred revenue	86.3	96.0
Other current liabilities	35.1	44.5
Total current liabilities	1,015.7	825.9
Long-term debt, net	1,195.1	1,457.9
Operating lease liabilities, long-term	1,322.0	1,377.1
Deemed landlord financing obligations	1,238.7	1,194.8
Deferred taxes, net	2.4	24.9
Other long-term liabilities	345.3	347.8
Commitments and contingencies (Note 12)
Shareholders’ equity:
Preferred stock, $0.01 par value, 3.0 million shares authorized, none issued and outstanding at both June 30, 2025 and December 31, 2024	0.0	0.0
Common stock, $0.01 par value, 360.0 million shares authorized, and 186.2 million shares issued at both June 30, 2025 and December 31, 2024	1.9	1.9
Additional paid-in capital	3,027.3	3,032.8
Accumulated deficit	(477.8)	(500.2)
Accumulated other comprehensive loss	$ (28.7)	$ (76.0)
Treasury stock (in shares)	2.3	3.1
Less: Common stock held in treasury, at cost, 2.3 million and 3.1 million shares as of June 30, 2025 and December 31, 2024, respectively	$ (34.6)	$ (50.8)
Total shareholders’ equity	2,488.1	2,407.7
Total liabilities and shareholders’ equity	$ 7,607.3	$ 7,636.1