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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Jun. 29, 2024
Jul. 01, 2023
Jul. 02, 2022
Cash flows from operating activities:      
Net income $ 435.9 $ 397.2 $ 112.5
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation 355.2 315.7 279.7
Amortization of intangible assets 201.5 181.0 183.1
Amortization of deferred financing costs 10.5 10.3 9.7
Provision for losses on accounts receivables 19.8 6.0 9.0
Change in LIFO reserve 62.3 39.2 122.9
Stock compensation expense 41.9 43.4 44.0
Deferred income tax expense 10.7 20.0 4.8
Loss on extinguishment of debt 0.9 0.0 3.2
Change in fair value of derivative assets and liabilities (4.1) 19.0 (10.5)
Other non-cash activities (2.4) 9.0 6.2
Changes in operating assets and liabilities, net      
Accounts receivable (81.1) (95.6) (195.1)
Inventories 37.7 56.9 (582.4)
Income taxes receivable (29.9) (11.0) 46.7
Prepaid expenses and other assets (95.8) (3.2) (0.4)
Trade accounts payable and outstanding checks in excess of deposits 124.0 (164.6) 182.5
Accrued expenses and other liabilities 75.9 8.8 60.6
Net cash provided by operating activities 1,163.0 832.1 276.5
Cash flows from investing activities:      
Purchases of property, plant and equipment (395.6) (269.7) (215.5)
Net cash paid for acquisitions (307.7) (63.8) (1,650.5)
Proceeds from sale of property, plant and equipment and other 20.6 38.9 4.5
Net cash used in investing activities (682.7) (294.6) (1,861.5)
Cash flows from financing activities:      
Net borrowings (payments) under ABL Facility 6.8 (454.4) 1,019.7
Cash paid for debt issuance, extinguishment and modifications 0.0 0.0 (25.0)
Payments under finance lease obligations (122.2) (88.5) (72.1)
Cash paid for acquisitions 0.0 0.0 (6.9)
Proceeds from employee stock purchase plan 15.5 27.7 24.6
Proceeds from exercise of stock options 2.2 3.1 2.7
Cash paid for shares withheld to cover taxes (21.5) (12.6) (11.4)
Repurchases of common stock (78.1) (11.2) 0.0
Other financing activities (0.3) (0.3) (0.1)
Net cash (used in) provided by financing activities (472.6) (536.2) 1,581.5
Net increase (decrease) in cash and restricted cash 7.7 1.3 (3.5)
Cash and restricted cash, beginning of period 20.0 18.7 22.2
Cash and restricted cash, end of period 27.7 20.0 18.7
Non-cash issuance of Common Stock in exchange for Core-Mark stock [1] 0.0 0.0 1,008.0
Interest 242.1 218.5 152.4
Income tax payments net of refunds 177.1 134.1 8.7
6.875% Senior Notes due 2025 [Member]      
Cash flows from financing activities:      
Repayment of Notes (275.0) 0.0 0.0
4.250% Notes due 2029 [Member]      
Cash flows from financing activities:      
Borrowing of Notes due 2029 0.0 0.0 1,000.0
5.500% Senior Notes due 2024 [Member]      
Cash flows from financing activities:      
Repayment of Notes $ 0.0 $ 0.0 $ (350.0)
[1] Disclosure of non-cash transactions related to right-of-use assets and lease obligations is included in Note 12. Leases