Performance Food Group (PFGC) annual balance sheet covering fiscal 2018 through 2023, as reported to the SEC.
Total assets have grown 25.6% a year on average since fiscal 2018, from $4B to $12.5B, rising in every year shown.
A balance sheet shows what a company owns and what it owes on a single date. The difference between the two belongs to shareholders.
| Jul'23 | Jul'22 | Jul'21 | Jun'20 | Jun'19 | Jun'18 | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
ASSETS | |||||||||||||||||||||
Current assets: | |||||||||||||||||||||
Cash | |||||||||||||||||||||
12 | 11 | 11 | 420 | 14 | 7 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Cash | 12 | 11 | 11 | 420 | 14 | 7 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accounts receivable, less allowances of $64.8 and $56.3 | |||||||||||||||||||||
2,399 | 2,307 | 1,580 | 1,258 | 1,227 | 1,065 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accounts receivable, less allowances of $64.8 and $56.3 | 2,399 | 2,307 | 1,580 | 1,258 | 1,227 | 1,065 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Inventories, net | |||||||||||||||||||||
3,390 | 3,428 | 1,839 | 1,549 | 1,356 | 1,051 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Inventories, net | 3,390 | 3,428 | 1,839 | 1,549 | 1,356 | 1,051 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Income taxes receivable | |||||||||||||||||||||
41 | 34 | 49 | 156 | 12 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Income taxes receivable | 41 | 34 | 49 | 156 | 12 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Prepaid expenses and other current assets | |||||||||||||||||||||
227 | 240 | 100 | 68 | 59 | 78 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Prepaid expenses and other current assets | 227 | 240 | 100 | 68 | 59 | 78 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total current assets | |||||||||||||||||||||
6,071 | 6,022 | 3,580 | 3,453 | 2,670 | 2,203 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total current assets | 6,071 | 6,022 | 3,580 | 3,453 | 2,670 | 2,203 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Goodwill | |||||||||||||||||||||
2,301 | 2,279 | 1,354 | 1,353 | 765 | 740 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Goodwill | 2,301 | 2,279 | 1,354 | 1,353 | 765 | 740 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other intangible assets, net | |||||||||||||||||||||
1,028 | 1,195 | 796 | 918 | 194 | 193 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other intangible assets, net | 1,028 | 1,195 | 796 | 918 | 194 | 193 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Property, plant and equipment, net | |||||||||||||||||||||
2,264 | 2,134 | 1,589 | 1,479 | 950 | 795 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Property, plant and equipment, net | 2,264 | 2,134 | 1,589 | 1,479 | 950 | 795 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Operating lease right-of-use assets | |||||||||||||||||||||
703 | 623 | 438 | 441 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Operating lease right-of-use assets | 703 | 623 | 438 | 441 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Restricted cash | |||||||||||||||||||||
- | - | 11 | 11 | 10 | 10 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Restricted cash | - | - | 11 | 11 | 10 | 10 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other assets | |||||||||||||||||||||
130 | 123 | 74 | 62 | 61 | 57 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other assets | 130 | 123 | 74 | 62 | 61 | 57 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total assets | |||||||||||||||||||||
12,499 | 12,378 | 7,845 | 7,719 | 4,653 | 4,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total assets | 12,499 | 12,378 | 7,845 | 7,719 | 4,653 | 4,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
LIABILITIES AND SHAREHOLDERS’ EQUITY | |||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||
Trade accounts payable and outstanding checks in excess of deposits | |||||||||||||||||||||
2,453 | 2,559 | 1,776 | 1,718 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Trade accounts payable and outstanding checks in excess of deposits | 2,453 | 2,559 | 1,776 | 1,718 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Outstanding checks in excess of deposits | |||||||||||||||||||||
- | - | - | - | 206 | 260 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Outstanding checks in excess of deposits | - | - | - | - | 206 | 260 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Trade accounts payable | |||||||||||||||||||||
- | - | - | - | 1,130 | 973 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Trade accounts payable | - | - | - | - | 1,130 | 973 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accrued expenses and other current liabilities | |||||||||||||||||||||
891 | 882 | 625 | 678 | 343 | 227 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accrued expenses and other current liabilities | 891 | 882 | 625 | 678 | 343 | 227 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Long-term debt - current installments | |||||||||||||||||||||
- | - | - | 107 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Long-term debt - current installments | - | - | - | 107 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Finance lease obligations—current installments | |||||||||||||||||||||
102 | 79 | 48 | 30 | 18 | 8 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Finance lease obligations—current installments | 102 | 79 | 48 | 30 | 18 | 8 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Operating lease obligations—current installments | |||||||||||||||||||||
105 | 111 | 77 | 84 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Operating lease obligations—current installments | 105 | 111 | 77 | 84 | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Derivative liabilities | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Derivative liabilities | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total current liabilities | |||||||||||||||||||||
3,553 | 3,633 | 2,527 | 2,618 | 1,699 | 1,470 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total current liabilities | 3,553 | 3,633 | 2,527 | 2,618 | 1,699 | 1,470 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Long-term debt | |||||||||||||||||||||
3,460 | 3,908 | 2,240 | 2,249 | 1,202 | 1,123 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Long-term debt | 3,460 | 3,908 | 2,240 | 2,249 | 1,202 | 1,123 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Deferred income tax liability, net | |||||||||||||||||||||
446 | 424 | 140 | 115 | 108 | 106 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Deferred income tax liability, net | 446 | 424 | 140 | 115 | 108 | 106 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Finance lease obligations, excluding current installments | |||||||||||||||||||||
447 | 366 | 255 | 185 | 128 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Finance lease obligations, excluding current installments | 447 | 366 | 255 | 185 | 128 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Operating lease obligations, excluding current installments | |||||||||||||||||||||
628 | 530 | 378 | 362 | - | 52 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Operating lease obligations, excluding current installments | 628 | 530 | 378 | 362 | - | 52 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Long-term derivative liabilities | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Long-term derivative liabilities | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other long-term liabilities | |||||||||||||||||||||
217 | 214 | 198 | 177 | 216 | 113 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other long-term liabilities | 217 | 214 | 198 | 177 | 216 | 113 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total liabilities | |||||||||||||||||||||
8,753 | 9,078 | 5,739 | 5,709 | 3,355 | 2,865 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total liabilities | 8,753 | 9,078 | 5,739 | 5,709 | 3,355 | 2,865 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Commitments and contingencies (Note 10) | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Commitments and contingencies (Note 10) | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Shareholders’ equity: | |||||||||||||||||||||
Common Stock: $0.01 par value per share, 1.0 billion shares authorized, 154.7 million shares issued and outstanding as of September 30, 2023; 154.5 million shares issued and outstanding as of July 1, 2023 | |||||||||||||||||||||
1 | 1 | 1 | 1 | 1 | 1 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Common Stock: $0.01 par value per share, 1.0 billion shares authorized, 154.7 million shares issued and outstanding as of September 30, 2023; 154.5 million shares issued and outstanding as of July 1, 2023 | 1 | 1 | 1 | 1 | 1 | 1 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Additional paid-in capital | |||||||||||||||||||||
2,863 | 2,816 | 1,752 | 1,703 | 866 | 861 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Additional paid-in capital | 2,863 | 2,816 | 1,752 | 1,703 | 866 | 861 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accumulated other comprehensive income, net of tax expense of $4.5 and $4.9 | |||||||||||||||||||||
14 | 11 | -5 | -10 | -0 | 8 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accumulated other comprehensive income, net of tax expense of $4.5 and $4.9 | 14 | 11 | -5 | -10 | -0 | 8 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Retained earnings | |||||||||||||||||||||
867 | 469 | 357 | 316 | 430 | 264 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Retained earnings | 867 | 469 | 357 | 316 | 430 | 264 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total shareholders’ equity | |||||||||||||||||||||
3,745 | 3,299 | 2,106 | 2,010 | 1,298 | 1,135 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total shareholders’ equity | 3,745 | 3,299 | 2,106 | 2,010 | 1,298 | 1,135 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total liabilities and shareholders’ equity | |||||||||||||||||||||
12,499 | 12,378 | 7,845 | 7,719 | 4,653 | 4,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total liabilities and shareholders’ equity | 12,499 | 12,378 | 7,845 | 7,719 | 4,653 | 4,000 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||