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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Jul. 01, 2023
Jul. 02, 2022
Jul. 03, 2021
Cash flows from operating activities:      
Net income $ 397.2 $ 112.5 $ 40.7
Adjustments to reconcile net income to net cash provided by (used in) operating activities      
Depreciation 315.7 279.7 213.9
Amortization of intangible assets 181.0 183.1 125.0
Amortization of deferred financing costs 10.3 9.7 12.7
Provision for losses on accounts receivables 6.0 9.0 (23.8)
Change in LIFO reserve 39.2 122.9 36.4
Stock compensation expense 43.4 44.0 25.4
Deferred income tax expense 20.0 4.8 21.2
Loss on extinguishment of debt 0.0 3.2 0.0
Change in fair value of derivative assets and liabilities 19.0 (10.5) (8.5)
Other non-cash activities 9.0 6.2 12.2
Changes in operating assets and liabilities, net      
Accounts receivable (95.6) (195.1) (296.5)
Inventories 56.9 (582.4) (323.1)
Income taxes receivable (11.0) 46.7 106.9
Prepaid expenses and other assets (3.2) (0.4) (34.9)
Trade accounts payable and outstanding checks in excess of deposits (164.6) 182.5 57.8
Accrued expenses and other liabilities 8.8 60.6 99.2
Net cash provided by (used in) operating activities 832.1 276.5 64.6
Cash flows from investing activities:      
Purchases of property, plant and equipment (269.7) (215.5) (188.8)
Net cash paid for acquisitions (63.8) (1,650.5) (18.1)
Proceeds from sale of property, plant and equipment and other 38.9 4.5 7.1
Net cash used in investing activities (294.6) (1,861.5) (199.8)
Cash flows from financing activities:      
Net (payments) borrowings under ABL Facility (454.4) 1,019.7 (16.2)
Payment of Additional Junior Term Loan 0.0 0.0 (110.0)
Cash paid for debt issuance, extinguishment and modifications 0.0 (25.0) (0.1)
Payments under finance lease obligations (88.5) (72.1) (37.9)
Cash paid for acquisitions 0.0 (6.9) (136.4)
Proceeds from employee stock purchase plan 27.7 24.6 26.2
Proceeds from exercise of stock options 3.1 2.7 5.0
Cash paid for shares withheld to cover taxes (12.6) (11.4) (4.2)
Repurchases of common stock (11.2) 0.0 0.0
Other financing activities (0.3) (0.1) (0.8)
Net cash (used in) provided by financing activities (536.2) 1,581.5 (274.4)
Net increase (decrease) in cash and restricted cash 1.3 (3.5) (409.6)
Cash and restricted cash, beginning of period 18.7 22.2 431.8
Cash and restricted cash, end of period 20.0 18.7 22.2
Non-cash issuance of Common Stock in exchange for Core-Mark stock [1] 0.0 1,008.0 0.0
Interest 218.5 152.4 139.3
Income tax payments net of refunds 134.1 8.7 (117.4)
4.250% Notes due 2029 [Member]      
Cash flows from financing activities:      
Borrowing of Notes due 2029 0.0 1,000.0 0.0
5.500% Senior Notes due 2024 [Member]      
Cash flows from financing activities:      
Repayment of Notes due 2024 $ 0.0 $ (350.0) $ 0.0
[1] Disclosure of non-cash transactions related to right-of-use assets and lease obligations is included in Note 12. Leases