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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Jan. 28, 2024
Jan. 29, 2023
Jan. 30, 2022
Cash Flows From Operating Activities:      
Net income $ 531 $ 581 $ 225
Adjustments to reconcile net cash from operating activities:      
Depreciation and amortization 154 148 150
Equity-based compensation expense 10 11 25
Loss on debt modification and extinguishment 0 0 49
Other 7 0 (14)
Changes in assets and liabilities:      
(Increase) decrease in receivables 21 (51) (312)
(Increase) decrease in inventories 328 (149) (440)
(Increase) decrease in other assets 2 (4) (7)
Increase (decrease) in accounts payable 11 (140) 274
Increase (decrease) in accrued liabilities 4 5 24
Increase (decrease) in other liabilities 1 0 (5)
Net cash provided by (used in) operating activities 1,069 401 (31)
Cash Flows From Investing Activities:      
Capital expenditures (39) (25) (20)
Acquisitions of businesses, net of cash acquired (231) (128) (179)
Settlement of interest rate swap 0 0 (5)
Other 0 1 1
Net cash used in investing activities (270) (152) (203)
Cash Flows From Financing Activities:      
IPO proceeds, net of underwriting discounts and commissions 0 0 664
Offering proceeds from underwriters’ option, net of underwriting discounts and commissions 0 0 100
Payments for offering costs 0 0 (8)
Repurchase and retirement of partnership interests (1,344) 0 0
Distributions to non-controlling interest holders (41) (57) (52)
Payments pursuant to Tax Receivable Agreements (5) 0 0
Borrowings on asset-based revolving credit facility 665 244 18
Repayments on asset-based revolving credit facility (235) (244) (18)
Issuance of long-term debt 0 0 1,500
Repayments of long-term debt (15) (15) (2,319)
Payment of debt redemption premiums 0 0 (18)
Debt issuance costs 0 (2) (13)
Other 0 1 0
Net cash used in financing activities (975) (73) (146)
(Decrease) increase in cash and cash equivalents (176) 176 (380)
Cash and cash equivalents at the beginning of the period 177 1 381
Cash and cash equivalents at the end of the period 1 177 1
Cash paid for interest (excluding effects of interest rate swap) 105 74 126
Cash paid for income taxes $ 116 $ 147 $ 55