10-Q Filing

US FOODS HOLDING CORP. CIK: 1665918 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001564590-17-009856`
Period End Date	20170331
Filing Date	20170509
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	usfd-20170401.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 36 Cash Flow Statement 73

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Allowances for accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$25.39M	USD	Point-in-time
Allowances for accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$24.24M	USD	Point-in-time
Allowances for vendor receivables	`AllowanceForDoubtfulVendorReceivablesCurrent`	$1.82M	USD	Point-in-time
Allowances for vendor receivables	`AllowanceForDoubtfulVendorReceivablesCurrent`	$2.97M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$517.80M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$142.11M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$151.82M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$131.09M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Accounts receivable, less allowances of $24,237 and $25,388	`AccountsReceivableNetCurrent`	$1.23B	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	600.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	600.00M	shares	Point-in-time
Accounts receivable, less allowances of $24,237 and $25,388	`AccountsReceivableNetCurrent`	$1.37B	USD	Point-in-time
Vendor receivables, less allowances of $2,970 and $1,819	`VendorReceivablesNetCurrent`	$153.17M	USD	Point-in-time
Vendor receivables, less allowances of $2,970 and $1,819	`VendorReceivablesNetCurrent`	$105.54M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	221.99M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	220.93M	shares	Point-in-time
Inventoriesnet	`InventoryNet`	$1.20B	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	221.99M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	220.93M	shares	Point-in-time
Inventoriesnet	`InventoryNet`	$1.22B	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$87.51M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$72.65M	USD	Point-in-time
Assets held for sale	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$21.04M	USD	Point-in-time
Assets held for sale	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$21.04M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$10.64M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$9.78M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.79B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.99B	USD	Point-in-time
PROPERTY AND EQUIPMENTNet	`PropertyPlantAndEquipmentNet`	$1.77B	USD	Point-in-time
PROPERTY AND EQUIPMENTNet	`PropertyPlantAndEquipmentNet`	$1.79B	USD	Point-in-time
GOODWILL	`Goodwill`	$3.92B	USD	Point-in-time
GOODWILL	`Goodwill`	$3.91B	USD	Point-in-time
OTHER INTANGIBLESNet	`IntangibleAssetsNetExcludingGoodwill`	$369.12M	USD	Point-in-time
OTHER INTANGIBLESNet	`IntangibleAssetsNetExcludingGoodwill`	$386.88M	USD	Point-in-time
DEFERRED TAX ASSETS	`DeferredTaxAssetsNetNoncurrent`	$34.41M	USD	Point-in-time
DEFERRED TAX ASSETS	`DeferredTaxAssetsNetNoncurrent`	$34.54M	USD	Point-in-time
OTHER ASSETS	`OtherAssetsNoncurrent`	$68.47M	USD	Point-in-time
OTHER ASSETS	`OtherAssetsNoncurrent`	$57.90M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$8.94B	USD	Point-in-time
TOTAL ASSETS	`Assets`	$9.18B	USD	Point-in-time
Bank checks outstanding	`BankChecksOutstanding`	$172.32M	USD	Point-in-time
Bank checks outstanding	`BankChecksOutstanding`	$142.71M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.29B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.47B	USD	Point-in-time
Accrued expenses and other current liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$455.81M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$367.63M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$75.96M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$82.23M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.97B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.10B	USD	Point-in-time
LONG-TERM DEBT	`LongTermDebtNoncurrent`	$3.71B	USD	Point-in-time
LONG-TERM DEBT	`LongTermDebtNoncurrent`	$3.77B	USD	Point-in-time
DEFERRED TAX LIABILITIES	`DeferredTaxLiabilitiesNoncurrent`	$380.83M	USD	Point-in-time
DEFERRED TAX LIABILITIES	`DeferredTaxLiabilitiesNoncurrent`	$393.66M	USD	Point-in-time
OTHER LONG-TERM LIABILITIES	`OtherLiabilitiesNoncurrent`	$350.93M	USD	Point-in-time
OTHER LONG-TERM LIABILITIES	`OtherLiabilitiesNoncurrent`	$342.07M	USD	Point-in-time
Total liabilities	`Liabilities`	$6.41B	USD	Point-in-time
Total liabilities	`Liabilities`	$6.60B	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES (Note 17)	`CommitmentsAndContingencies`	-	USD	Point-in-time
COMMITMENTS AND CONTINGENCIES (Note 17)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.01 par value600,000 shares authorized; 221,992 and 220,929 issued and outstanding as of April 1, 2017 and December 31, 2016, respectively	`CommonStockValue`	$2.22M	USD	Point-in-time
Common stock, $0.01 par value600,000 shares authorized; 221,992 and 220,929 issued and outstanding as of April 1, 2017 and December 31, 2016, respectively	`CommonStockValue`	$2.21M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$2.80B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$2.79B	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-136.46M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-109.64M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-118.71M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-119.36M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$2.54B	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$2.57B	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$8.94B	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$9.18B	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
NET SALES	`SalesRevenueNet`	$5.59B	USD	1 Quarter
NET SALES	`SalesRevenueNet`	$5.79B	USD	1 Quarter
COST OF GOODS SOLD	`CostOfGoodsSold`	$4.63B	USD	1 Quarter
COST OF GOODS SOLD	`CostOfGoodsSold`	$4.80B	USD	1 Quarter
Gross profit	`GrossProfit`	$991.31M	USD	1 Quarter
Gross profit	`GrossProfit`	$959.77M	USD	1 Quarter
Distribution, selling and administrative costs	`SellingGeneralAndAdministrativeExpense`	$864.31M	USD	1 Quarter
Distribution, selling and administrative costs	`SellingGeneralAndAdministrativeExpense`	$912.91M	USD	1 Quarter
Restructuring charges	`RestructuringChargesNet`	$1.87M	USD	1 Quarter
Restructuring charges	`RestructuringChargesNet`	$10.78M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$875.09M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$914.78M	USD	1 Quarter
OPERATING INCOME	`OperatingIncomeLoss`	$76.52M	USD	1 Quarter
OPERATING INCOME	`OperatingIncomeLoss`	$84.68M	USD	1 Quarter
INTEREST EXPENSE Net	`InterestExpense`	$70.56M	USD	1 Quarter
INTEREST EXPENSE Net	`InterestExpense`	$41.89M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$34.64M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$14.12M	USD	1 Quarter
INCOME TAX PROVISION	`IncomeTaxExpenseBenefit`	$7.82M	USD	1 Quarter
INCOME TAX PROVISION	`IncomeTaxExpenseBenefit`	$807.00K	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$26.82M	USD	1 Quarter
NET INCOME	`NetIncomeLoss`	$13.31M	USD	1 Quarter
Changes in retirement benefit obligations, net of income tax	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-657.00K	USD	1 Quarter
Changes in retirement benefit obligations, net of income tax	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-2.63M	USD	1 Quarter
COMPREHENSIVE INCOME	`ComprehensiveIncomeNetOfTax`	$15.94M	USD	1 Quarter
COMPREHENSIVE INCOME	`ComprehensiveIncomeNetOfTax`	$27.47M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.12	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.08	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.12	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.08	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	221.36M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	169.12M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	226.32M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	171.50M	shares	1 Quarter
Distribution declared and paid per share (Note 12)	`CashDistributionPaidPerShareToRelatedPartyShareholders`	$3.94	USD	Point-in-time
Distribution declared and paid per share (Note 12)	`CashDistributionPaidPerShareToRelatedPartyShareholders`	$3.94	USD	1 Quarter

Cash Flow Statement 73 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$26.82M	USD	1 Quarter
Net income	`NetIncomeLoss`	$13.31M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$107.76M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$102.81M	USD	1 Quarter
Gain on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$310.00K	USD	1 Quarter
Gain on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$1.31M	USD	1 Quarter
Amortization and write-off of deferred financing costs	`AmortizationAndWriteOffOfDeferredFinancingCosts`	$1.28M	USD	1 Quarter
Amortization and write-off of deferred financing costs	`AmortizationAndWriteOffOfDeferredFinancingCosts`	$2.43M	USD	1 Quarter
Insurance proceeds relating to operating activities	`ProceedsFromInsuranceSettlementOperatingActivities`	$2.48M	USD	1 Quarter
Insurance benefit in net income	`InsuredEventGainLoss`	$7.08M	USD	1 Quarter
Amortization of Senior Notes original issue premium	`AmortizationOfDebtDiscountPremium`	$-832.00K	USD	1 Quarter
Deferred tax provision (benefit)	`DeferredIncomeTaxExpenseBenefit`	$12.28M	USD	1 Quarter
Deferred tax provision (benefit)	`DeferredIncomeTaxExpenseBenefit`	$-80.00K	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$4.79M	USD	1 Quarter
Share-based compensation expense	`ShareBasedCompensation`	$3.34M	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$3.78M	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$4.75M	USD	1 Quarter
Increase in receivables	`IncreaseDecreaseInAccountsReceivable`	$192.73M	USD	1 Quarter
Increase in receivables	`IncreaseDecreaseInAccountsReceivable`	$84.68M	USD	1 Quarter
Decrease (increase) in inventories	`IncreaseDecreaseInInventories`	$-35.71M	USD	1 Quarter
Decrease (increase) in inventories	`IncreaseDecreaseInInventories`	$49.99M	USD	1 Quarter
Increase in prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$4.95M	USD	1 Quarter
Increase in prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$25.65M	USD	1 Quarter
Increase in accounts payable and bank checks outstanding	`IncreaseDecreaseInAccountsPayableAndBankChecksOutstanding`	$236.98M	USD	1 Quarter
Increase in accounts payable and bank checks outstanding	`IncreaseDecreaseInAccountsPayableAndBankChecksOutstanding`	$257.94M	USD	1 Quarter
Decrease in accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-88.67M	USD	1 Quarter
Decrease in accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-101.16M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$137.47M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$121.56M	USD	1 Quarter
Acquisition of businessesnet of cash	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$62.50M	USD	1 Quarter
Acquisition of businessesnet of cash	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$38.32M	USD	1 Quarter
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$724.00K	USD	1 Quarter
Proceeds from sales of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$1.92M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$70.12M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$36.88M	USD	1 Quarter
Investment in Avero, LLC	`PaymentsToAcquireInterestInSubsidiariesAndAffiliates`	$7.66M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-131.90M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-80.94M	USD	1 Quarter
Proceeds from debt borrowings	`ProceedsFromOtherDebt`	$578.46M	USD	1 Quarter
Proceeds from debt borrowings	`ProceedsFromOtherDebt`	$538.00M	USD	1 Quarter
Principal payments on debt and capital leases	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$303.08M	USD	1 Quarter
Principal payments on debt and capital leases	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$548.04M	USD	1 Quarter
Cash distribution to shareholders	`PaymentsOfCapitalDistribution`	$666.33M	USD	1 Quarter
Contingent consideration paid for business acquisition	`BusinessAcquisitionContingentConsiderationPaid`	$5.00M	USD	1 Quarter
Payment for debt financing costs and fees	`PaymentsOfFinancingCosts`	$426.00K	USD	1 Quarter
Proceeds from employee share purchase plan	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans`	$3.33M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$7.02M	USD	1 Quarter
Tax withholding payments for net share settled equity awards	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$3.97M	USD	1 Quarter
Proceeds from common stock sales	`ProceedsFromIssuanceOfCommonStock`	$2.85M	USD	1 Quarter
Common stock and share-based awards settled	`CommonStockAndShareBasedAwardsSettled`	$3.66M	USD	1 Quarter
Common stock and share-based awards settled	`CommonStockAndShareBasedAwardsSettled`	$302.00K	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-432.22M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$31.07M	USD	1 Quarter
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$20.73M	USD	1 Quarter
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-375.69M	USD	1 Quarter
CASH AND CASH EQUIVALENTSBeginning of period	`CashAndCashEquivalentsAtCarryingValue`	$517.80M	USD	Point-in-time
CASH AND CASH EQUIVALENTSBeginning of period	`CashAndCashEquivalentsAtCarryingValue`	$142.11M	USD	Point-in-time
CASH AND CASH EQUIVALENTSBeginning of period	`CashAndCashEquivalentsAtCarryingValue`	$151.82M	USD	Point-in-time
CASH AND CASH EQUIVALENTSBeginning of period	`CashAndCashEquivalentsAtCarryingValue`	$131.09M	USD	Point-in-time
CASH AND CASH EQUIVALENTSEnd of period	`CashAndCashEquivalentsAtCarryingValue`	$517.80M	USD	Point-in-time
CASH AND CASH EQUIVALENTSEnd of period	`CashAndCashEquivalentsAtCarryingValue`	$142.11M	USD	Point-in-time
CASH AND CASH EQUIVALENTSEnd of period	`CashAndCashEquivalentsAtCarryingValue`	$151.82M	USD	Point-in-time
CASH AND CASH EQUIVALENTSEnd of period	`CashAndCashEquivalentsAtCarryingValue`	$131.09M	USD	Point-in-time
Interest (net of amounts capitalized)	`InterestPaid`	$29.59M	USD	1 Quarter
Interest (net of amounts capitalized)	`InterestPaid`	$39.84M	USD	1 Quarter
Income taxes (refunded) paidnet	`IncomeTaxesPaidNet`	$-39.00K	USD	1 Quarter
Income taxes (refunded) paidnet	`IncomeTaxesPaidNet`	$40.00K	USD	1 Quarter
Property and equipment purchases included in accounts payable	`PropertyPlantAndEquipmentPurchasesIncludedInAccountsPayable`	$11.38M	USD	1 Quarter
Property and equipment purchases included in accounts payable	`PropertyPlantAndEquipmentPurchasesIncludedInAccountsPayable`	$15.91M	USD	1 Quarter
Capital lease additions	`CapitalLeaseObligationsIncurred`	$40.84M	USD	1 Quarter
Capital lease additions	`CapitalLeaseObligationsIncurred`	$48.30M	USD	1 Quarter
Cashless exercise of equity awards	`CashlessExerciseOfEquityAwards`	$7.15M	USD	1 Quarter
Contingent consideration payable for business acquisitions	`BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1`	$5.00M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.