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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
2 Months Ended 7 Months Ended 9 Months Ended
Oct. 01, 2022
Jul. 24, 2022
Oct. 02, 2021
Cash flows from operating activities:      
Net income (loss) $ (4,445) $ 483,786 $ 627,807
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Depreciation and amortization 56,260 166,177 216,956
Amortization of debt issuance costs, debt discount, and fair values 17,443 19,952 19,857
Share-based compensation expense 8,838 17,099 16,946
Loss (gain) on extinguishment of debt 0 (28,354) 42,234
Asset impairment 0 368 4,091
Loss (gain) on divestiture 1,762 (401,413) (831,252)
Gain on sale of assets 0 (2,670) 0
Amortization of inventory and other fair value step-ups 30,317 1,238 0
Provision for credit losses 1,111 3,811 2,289
Deferred income taxes (34,609) (26,688) (23,441)
Changes in operating assets and liabilities, net of effect of acquisitions:      
Accounts receivable 921 (101,937) (137,424)
Inventories 55,457 (12,956) (241,068)
Income taxes (15,775) 14,116 27,768
Prepaid expenses and other (6,199) 31,367 (41,355)
Accounts payable 12,636 64,044 100,402
Accrued expenses (112,026) 121,871 31,554
Other, net (43,482) 854 996
Net cash flows from operating activities (31,791) 350,665 (183,640)
Cash flows from investing activities:      
Acquisitions, net of cash acquired 0 4,252 (331,010)
Capital expenditures (24,402) (64,848) (75,183)
Proceeds from divestiture, net of cash divested 0 510,883 1,187,307
Proceeds from sale of property, plant and equipment 0 6,070 4,615
Net cash flows from investing activities (24,402) 456,357 785,729
Cash flows from financing activities:      
Proceeds from ABL facility 0 0 190,000
Payments on ABL facility 0 0 (190,000)
Proceeds from term loans 300,000 0 108,438
Payments on term loans (6,500) (13,000) (19,405)
Payments to public shareholders (1,612,434) 0 0
Proceeds from senior notes 710,000 0 0
Repurchases of senior notes 0 (70,560) (670,800)
Payments of financing costs (84,686) 0 (13,187)
Contributions from Parent, net 95,194 0 0
Payments on derivative financing obligations 0 (7,321) (6,131)
Other 0 (3,206) (1,300)
Net cash flows from financing activities (598,426) (94,087) (602,385)
Effect of exchange rate changes on cash and cash equivalents 240 (5) (784)
Net increase (decrease) in cash, cash equivalents and restricted cash (654,379) 712,930 (1,080)
Cash, cash equivalents and restricted cash at beginning of period 1,109,588 396,658 680,478
Cash, cash equivalents and restricted cash at end of period $ 455,209 $ 1,109,588 $ 679,398