Schedule I — Condensed Financial Information of Parent |
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Condensed Financial Information Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule I — Condensed Financial Information of Parent | Schedule I — Condensed Financial Information of Parent CORE & MAIN, INC. PARENT COMPANY ONLY CONDENSED BALANCE SHEET Amounts in millions (except share and per share data)
See Notes to Condensed Financial Statements. CORE & MAIN, INC. PARENT COMPANY ONLY CONDENSED STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME Amounts in millions
See Notes to Condensed Financial Statements. CORE & MAIN, INC. PARENT COMPANY ONLY CONDENSED STATEMENT OF CASH FLOWS Amounts in millions
See Notes to Condensed Financial Statements. Notes to Parent Company Only Condensed Financial Statements 1) BASIS OF PRESENTATION The parent company financial statements are intended to present the condensed financial information of Core & Main, Inc. that was formed on April 9, 2021, as described in Basis of Presentation & Description of Business under Part II, Item 8 of this report (“Note 1”). As the parent company did not exist prior to April 9, 2021, no parent company information has been presented prior to this date. The parent company condensed financial statements should be read in conjunction with the Company’s consolidated financial statements and the accompanying notes thereto included in Part II, Item 8 of this report. For purposes of the parent company’s condensed financial information, the Company’s majority owned subsidiary is recorded based upon its proportionate share of the subsidiary’s net assets (similar to presenting them on the equity method). Initial Public Offering On July 27, 2021, Core & Main, Inc. completed its initial public offering of 34,883,721 shares of Class A common stock at a price to the public of $20.00 per share. On August 20, 2021, Core & Main, Inc. issued 5,232,558 shares of Class A common stock pursuant to the full exercise of the underwriters’ option to purchase additional shares of Class A common stock at the initial public offering price of $20.00 per share. On January 10, 2022, a secondary public offering of 20,000,000 shares of Class A common stock on behalf of certain selling stockholders affiliated with Clayton, Dubilier & Rice, LLC was completed at a price to the public of $26.00 per share. See Note 1 to the consolidated financial statements included elsewhere in this Annual Report on Form 10-K. 2) INCOME TAXES See Income Taxes under Part II, Item 8 of this report (“Note 7”) to the consolidated financial statements, included elsewhere in this Annual Report on Form 10-K for additional information on the income tax provision of Core & Main, Inc. and the Tax Receivable Agreements.
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