| | | | | | | | | | | |
| Thirteen Weeks Ended |
| August 25,
2024 | | August 27,
2023 |
| Cash flows from operating activities | | | |
| Net income | $ | 127.4 | | | $ | 234.8 | |
| Adjustments to reconcile net income to net cash provided by operating activities: | | | |
| Depreciation and amortization of intangibles and debt issuance costs | 90.5 | | | 70.1 | |
| Stock-settled, stock-based compensation expense | 9.5 | | | 9.9 | |
| Equity method investment earnings in excess of distributions | (0.1) | | | (12.2) | |
| Deferred income taxes | (2.9) | | | 3.6 | |
| Blue chip swap transaction gains | (16.6) | | | — | |
| Other | (14.4) | | | 9.3 | |
| Changes in operating assets and liabilities: | | | |
| Receivables | 31.9 | | | 0.4 | |
| Inventories | 10.2 | | | 60.2 | |
| Income taxes payable/receivable, net | 49.1 | | | 61.2 | |
| Prepaid expenses and other current assets | 50.1 | | | 62.8 | |
| Accounts payable | 9.5 | | | (22.4) | |
| Accrued liabilities | (14.0) | | | (143.1) | |
| Net cash provided by operating activities | $ | 330.2 | | | $ | 334.6 | |
| Cash flows from investing activities | | | |
| Additions to property, plant and equipment | (325.9) | | | (267.3) | |
| Additions to other long-term assets | (26.3) | | | (37.4) | |
| | | |
| | | |
| Proceeds from blue chip swap transactions, net of purchases | 16.6 | | | — | |
| Other | — | | | (0.1) | |
| Net cash used for investing activities | $ | (335.6) | | | $ | (304.8) | |
| Cash flows from financing activities | | | |
| Proceeds from short-term borrowings | 398.0 | | | 14.0 | |
| Repayments of short-term borrowings | (194.4) | | | (32.9) | |
| | | |
| Proceeds from issuance of debt | 3.3 | | | 15.1 | |
| Repayments of debt and financing obligations | (10.2) | | | (13.7) | |
| Dividends paid | (51.7) | | | (40.8) | |
| Repurchase of common stock and common stock withheld to cover taxes | (92.2) | | | (113.5) | |
| Other | (0.6) | | | 0.1 | |
| Net cash provided by (used for) financing activities | $ | 52.2 | | | $ | (171.7) | |
| Effect of exchange rate changes on cash and cash equivalents | 2.6 | | | 0.4 | |
| Net increase (decrease) in cash and cash equivalents | 49.4 | | | (141.5) | |
| Cash and cash equivalents, beginning of period | 71.4 | | | 304.8 | |
| Cash and cash equivalents, end of period | $ | 120.8 | | | $ | 163.3 | |
