$PFGC
Performance Food Group Co

2019 Form 10-K Financial Statement

#000156459019032384 Filed on August 16, 2019

View on sec.gov

Income Statement

Concept 2019 2018 Q2 2018
Revenue $19.74B $4.595B $17.62B
YoY Change 12.05% 8.49% 5.12%
Cost Of Revenue $17.23B $3.983B $15.33B
YoY Change 12.42% 7.25% 4.71%
Gross Profit $2.513B $611.8M $2.293B
YoY Change 9.6% 17.34% 7.91%
Gross Profit Margin 12.73% 13.32% 13.01%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $116.2M $34.30M $100.3M
YoY Change 15.85% 4.89% 9.62%
% of Gross Profit 4.62% 5.61% 4.37%
Operating Expenses $2.230B $518.0M $2.039B
YoY Change 9.34% 9.12% 6.56%
Operating Profit $283.3M $93.80M $253.5M
YoY Change 11.76% 100.86% 20.14%
Interest Expense $65.40M -$15.50M $60.40M
YoY Change 8.28% -210.71% 10.02%
% of Operating Profit 23.09% -16.52% 23.83%
Other Income/Expense, Net -$65.00M $200.0K -$59.90M
YoY Change 8.51% -101.45% 12.38%
Pretax Income $218.3M $78.50M $193.6M
YoY Change 12.76% 138.6% 22.76%
Income Tax $51.50M $64.50M -$5.100M
% Of Pretax Income 23.59% 82.17% -2.63%
Net Earnings $166.8M $64.40M $198.7M
YoY Change -16.05% 209.62% 106.33%
Net Earnings / Revenue 0.84% 1.4% 1.13%
Basic Earnings Per Share $1.61 $1.95
Diluted Earnings Per Share $1.59 $613.9K $1.90
COMMON SHARES
Basic Shares Outstanding 103.8M 104.2M shares 102.0M
Diluted Shares Outstanding 105.2M 104.6M

Balance Sheet

Concept 2019 2018 Q2 2018
SHORT-TERM ASSETS
Cash & Short-Term Investments $14.70M $7.500M $7.500M
YoY Change 96.0% -1.32% -7.41%
Cash & Equivalents $17.80M
Short-Term Investments
Other Short-Term Assets $71.70M $78.50M $78.50M
YoY Change -8.66% 126.22% 124.29%
Inventory $1.357B $1.052B $1.052B
Prepaid Expenses
Receivables $1.227B $1.066B $1.066B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.671B $2.204B $2.204B
YoY Change 21.2% 5.91% 5.69%
LONG-TERM ASSETS
Property, Plant & Equipment $950.5M $795.5M $795.5M
YoY Change 19.48% 10.24% 7.4%
Goodwill $740.5M
YoY Change 5.17%
Intangibles $193.8M
YoY Change 5.1%
Long-Term Investments
YoY Change
Other Assets $72.30M $57.30M $67.60M
YoY Change 6.95% 33.88% 14.97%
Total Long-Term Assets $1.983B $1.797B $1.797B
YoY Change 10.32% 7.9% 4.55%
TOTAL ASSETS
Total Short-Term Assets $2.671B $2.204B $2.204B
Total Long-Term Assets $1.983B $1.797B $1.797B
Total Assets $4.654B $4.001B $4.001B
YoY Change 16.31% 6.8% 5.17%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.131B $973.0M $973.0M
YoY Change 16.22% 5.68% 7.26%
Accrued Expenses $343.2M $227.8M $227.8M
YoY Change 50.66% -0.04% -7.4%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $18.30M $8.400M $8.400M
YoY Change 117.86% 47.37% -28.21%
Total Short-Term Liabilities $1.699B $1.470B $1.470B
YoY Change 15.6% 6.9% 6.27%
LONG-TERM LIABILITIES
Long-Term Debt $1.332B $1.123B $1.176B
YoY Change 13.27% -10.71% -8.56%
Other Long-Term Liabilities $216.2M $113.5M $113.5M
YoY Change 90.48% 7.89% 6.67%
Total Long-Term Liabilities $1.548B $1.237B $1.289B
YoY Change 20.07% -9.27% -7.4%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.699B $1.470B $1.470B
Total Long-Term Liabilities $1.548B $1.237B $1.289B
Total Liabilities $3.355B $2.866B $2.866B
YoY Change 17.09% 0.0% -0.45%
SHAREHOLDERS EQUITY
Retained Earnings $264.8M
YoY Change 910.69%
Common Stock $862.2M
YoY Change 1.23%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.298B $1.135B $1.135B
YoY Change
Total Liabilities & Shareholders Equity $4.654B $4.001B $4.001B
YoY Change 16.31% 6.8% 5.17%

Cashflow Statement

Concept 2019 2018 Q2 2018
OPERATING ACTIVITIES
Net Income $166.8M $64.40M $198.7M
YoY Change -16.05% 209.62% 106.33%
Depreciation, Depletion And Amortization $116.2M $34.30M $100.3M
YoY Change 15.85% 4.89% 9.62%
Cash From Operating Activities $317.4M $137.4M $367.0M
YoY Change -13.51% 7.76% 81.95%
INVESTING ACTIVITIES
Capital Expenditures $139.1M -$66.90M $140.1M
YoY Change -0.71% -350.56% -0.07%
Acquisitions $211.6M $71.10M
YoY Change 197.61% -63.14%
Other Investing Activities -$210.3M $1.000M -$69.30M
YoY Change 203.46% -101.61% -63.87%
Cash From Investing Activities -$349.4M -$65.90M -$209.4M
YoY Change 66.86% -25.96% -36.93%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $9.300M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 39.60M -74.20M -160.8M
YoY Change -124.63% 74.18% -226.12%
NET CHANGE
Cash From Operating Activities 317.4M 137.4M 367.0M
Cash From Investing Activities -349.4M -65.90M -209.4M
Cash From Financing Activities 39.60M -74.20M -160.8M
Net Change In Cash 7.600M -2.700M -3.200M
YoY Change -337.5% -34.15% 14.29%
FREE CASH FLOW
Cash From Operating Activities $317.4M $137.4M $367.0M
Capital Expenditures $139.1M -$66.90M $140.1M
Free Cash Flow $178.3M $204.3M $226.9M
YoY Change -21.42% 102.68% 268.94%

Facts In Submission

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CY2019 us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
78900000
CY2018 us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
-119800000
CY2017 us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
134900000
CY2018 us-gaap Repayments Of Medium Term Notes
RepaymentsOfMediumTermNotes
6000000.0
CY2019 pfgc Payments To Finance Property Plant And Equipment
PaymentsToFinancePropertyPlantAndEquipment
5400000
CY2018 pfgc Payments To Finance Property Plant And Equipment
PaymentsToFinancePropertyPlantAndEquipment
1900000
CY2017 pfgc Payments To Finance Property Plant And Equipment
PaymentsToFinancePropertyPlantAndEquipment
1000000.0
CY2019 us-gaap Payments Of Merger Related Costs Financing Activities
PaymentsOfMergerRelatedCostsFinancingActivities
5700000
CY2018 us-gaap Payments Of Merger Related Costs Financing Activities
PaymentsOfMergerRelatedCostsFinancingActivities
9000000.0
CY2017 us-gaap Payments Of Merger Related Costs Financing Activities
PaymentsOfMergerRelatedCostsFinancingActivities
1300000
CY2019 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
13200000
CY2018 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
6900000
CY2017 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
5400000
CY2019 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
6600000
CY2018 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
12300000
CY2017 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
4000000.0
CY2019 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
7500000
CY2018 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
28200000
CY2017 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
3500000
CY2019 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
9300000
CY2019 pfgc Payments Of Debt Issuance Modifications And Extinguishment Costs
PaymentsOfDebtIssuanceModificationsAndExtinguishmentCosts
4800000
CY2018 pfgc Payments Of Debt Issuance Modifications And Extinguishment Costs
PaymentsOfDebtIssuanceModificationsAndExtinguishmentCosts
1300000
CY2017 pfgc Payments Of Debt Issuance Modifications And Extinguishment Costs
PaymentsOfDebtIssuanceModificationsAndExtinguishmentCosts
200000
CY2019 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
39600000
CY2018 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-160800000
CY2017 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
127500000
CY2019 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
7600000
CY2018Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1414800000
CY2019Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
708300000
CY2018 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-3200000
CY2017 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-2800000
CY2018Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
17800000
CY2017Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
21000000.0
CY2016Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
23800000
CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
25400000
CY2018Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
17800000
CY2017Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
21000000.0
CY2019Q2 us-gaap Cash
Cash
14700000
CY2018Q2 us-gaap Cash
Cash
7500000
CY2019Q2 us-gaap Restricted Cash
RestrictedCash
10700000
CY2018Q2 us-gaap Restricted Cash
RestrictedCash
10300000
CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
25400000
CY2018Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
17800000
CY2019 us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
98100000
CY2018 us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
18200000
CY2017 us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
23400000
CY2017 pfgc Property Plant And Equipment Disposals Under Sale Leaseback Transaction
PropertyPlantAndEquipmentDisposalsUnderSaleLeasebackTransaction
3200000
CY2019 us-gaap Loans Assumed1
LoansAssumed1
3400000
CY2018 us-gaap Loans Assumed1
LoansAssumed1
4200000
CY2017 us-gaap Loans Assumed1
LoansAssumed1
500000
CY2018 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
4000000.0
CY2019 us-gaap Interest Paid Net
InterestPaidNet
65700000
CY2018 us-gaap Interest Paid Net
InterestPaidNet
57500000
CY2017 us-gaap Interest Paid Net
InterestPaidNet
51100000
CY2019 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
10800000
CY2018 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
33300000
CY2017 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
45700000
CY2019 us-gaap Nature Of Operations
NatureOfOperations
<div style="align:left;"> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse; width:100%;"> <tr> <td style="width:4.54%;white-space:nowrap" valign="top"> <p style="margin-bottom:0pt;margin-top:12pt;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><span style="font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">1.</span></p></td> <td valign="top"> <p style="margin-bottom:0pt;margin-top:12pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;"><span style="font-weight:normal;"/>Summary of Business Activities </p></td></tr></table></div> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Business Overview </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Performance Food Group Company (the “Company”), through its subsidiaries, markets and distributes national and company-branded food and food-related products to customer locations across the United States. The Company serves both of the major customer types in the restaurant industry: (i) independent, or “Street” customers, and (ii) multi-unit, or “Chain” customers, which include regional and national family and casual dining restaurant chains, fast casual chains, and quick-service restaurants. The Company also serves schools, healthcare facilities, business and industry locations, and other institutional customers. </p> <p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Fiscal Years </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company’s fiscal year ends on the Saturday nearest to June 30<sup style="font-size:85%; vertical-align:top">th</sup>.<sup style="font-size:85%; vertical-align:top"> </sup>This resulted in a 52-week year for fiscal 2019, fiscal 2018, and fiscal 2017. References to “fiscal 2019” are to the 52-week period ended June 29, 2019, references to “fiscal 2018” are to the 52-week period ended June 30, 2018, and references to “fiscal 2017” are to the 52-week period ended July 1, 2017. </p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;;font-size:10pt;"> </p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Share Repurchase Program</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On November 13, 2018, the Board of Directors of the Company (the “Board of Directors”) authorized a share repurchase program for up to $250 million of the Company’s outstanding common stock. The repurchases are executed in accordance with applicable securities laws and may be made at management’s discretion from time to time in the open market, through privately negotiated transactions or otherwise, including pursuant to Rule 10b5-1 trading plans. The share repurchase program does not have an expiration date and may be amended, suspended, or discontinued at any time. Repurchases under this program depend upon market place conditions and other factors, including compliance with the covenants under the Amended Credit Agreement, as defined in Note 8. Debt, and the indenture governing the Notes, as defined in Note 8. Debt.  The share repurchase program remains subject to the discretion of the Board of Directors. During the fiscal year ended June 29, 2019, the Company repurchased and subsequently retired 0.3 million shares of common stock, for a total of $9.3 million. As of June 29, 2019, approximately $240.7 million remained available for additional share repurchases.  </p>
CY2019 us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. The most significant estimates used by management are related to the accounting for the allowance for doubtful accounts, reserve for inventories, impairment testing of goodwill and other intangible assets, acquisition accounting, reserves for claims and recoveries under insurance programs, vendor rebates and other promotional incentives, bonus accruals, depreciation, amortization, determination of useful lives of tangible and intangible assets, and income taxes. Actual results could differ from these estimates. </p>
CY2019 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
11500000
CY2018 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
12100000
CY2017 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
6000000.0
CY2019Q2 us-gaap Inventory Net
InventoryNet
1356900000
CY2019Q2 us-gaap Fifo Inventory Amount
FIFOInventoryAmount
1199100000
CY2019Q2 us-gaap Lifo Inventory Amount
LIFOInventoryAmount
157800000
CY2019Q2 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
10300000
CY2018Q2 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
6900000
CY2019 pfgc Inventory Vendor Consideration
InventoryVendorConsideration
29900000
CY2018 pfgc Inventory Vendor Consideration
InventoryVendorConsideration
24300000
CY2019Q2 us-gaap Inventory Adjustments
InventoryAdjustments
8200000
CY2018Q2 us-gaap Inventory Adjustments
InventoryAdjustments
4000000.0
CY2019 us-gaap Property Plant And Equipment Estimated Useful Lives
PropertyPlantAndEquipmentEstimatedUsefulLives
Depreciation of property, plant and equipment, including capital lease assets, is calculated primarily using the straight-line method over the estimated useful lives of the assets, which range from two to 39 years
CY2019 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2018 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2017 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2019 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
0
CY2018 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
0
CY2017 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
0
CY2019Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
10600000
CY2018Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
6900000
CY2017Q3 us-gaap Goodwill
Goodwill
718600000
CY2018 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
21300000
CY2018 us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
600000
CY2018Q2 us-gaap Goodwill
Goodwill
740500000
CY2019 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
25500000
CY2019 us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
-200000
CY2019Q2 us-gaap Goodwill
Goodwill
765800000
CY2019Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
755100000
CY2019Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
586400000
CY2019Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
168700000
CY2018Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
698600000
CY2018Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
544300000
CY2018Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
154300000
CY2019Q2 us-gaap Goodwill
Goodwill
765800000
CY2018Q2 us-gaap Goodwill
Goodwill
740500000
CY2019Q2 us-gaap Indefinite Lived Trade Names
IndefiniteLivedTradeNames
25600000
CY2018Q2 us-gaap Indefinite Lived Trade Names
IndefiniteLivedTradeNames
39500000
CY2019Q2 pfgc Indefinite Lived Intangible Assets Including Goodwill
IndefiniteLivedIntangibleAssetsIncludingGoodwill
791400000
CY2018Q2 pfgc Indefinite Lived Intangible Assets Including Goodwill
IndefiniteLivedIntangibleAssetsIncludingGoodwill
780000000.0
CY2019 us-gaap Amortization Of Deferred Charges
AmortizationOfDeferredCharges
42100000
CY2018 us-gaap Amortization Of Deferred Charges
AmortizationOfDeferredCharges
33300000
CY2017 us-gaap Amortization Of Deferred Charges
AmortizationOfDeferredCharges
37700000
CY2019Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
37700000
CY2019Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
37900000
CY2019Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
33900000
CY2019Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
21800000
CY2019Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
16300000
CY2019Q2 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
21100000
CY2019Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
168700000
CY2018Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
795500000
CY2019 us-gaap Depreciation
Depreciation
116200000
CY2018Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
619300000
CY2019Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
950500000
CY2019Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1658800000
CY2018 us-gaap Depreciation
Depreciation
100300000
CY2017 us-gaap Depreciation
Depreciation
91500000
CY2019Q2 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
6100000
CY2018Q2 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
7100000
CY2019Q2 us-gaap Long Term Debt
LongTermDebt
1202900000
CY2018Q2 us-gaap Long Term Debt
LongTermDebt
1123000000.0
CY2019Q2 us-gaap Capital Lease Obligations
CapitalLeaseObligations
147200000
CY2018Q2 us-gaap Capital Lease Obligations
CapitalLeaseObligations
61200000
CY2019Q2 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
1350100000
CY2018Q2 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
1184200000
CY2019Q2 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
18300000
CY2018Q2 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
8400000
CY2019Q2 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
1331800000
CY2018Q2 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
1175800000
CY2019 us-gaap Debt Instrument Redemption Description
DebtInstrumentRedemptionDescription
Upon the occurrence of a change of control triggering event or upon the sale of certain assets in which Performance Food Group, Inc. does not apply the proceeds as required, the holders of the Notes will have the right to require Performance Food Group, Inc. to repurchase each holder’s Notes at a price equal to 101% (in the case of a change of control triggering event) or 100% (in the case of an asset sale) of their principal amount, plus accrued and unpaid interest.
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
0
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
0
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
0
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
0
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
1209000000.0
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
0
CY2019Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1209000000.0
CY2019Q2 us-gaap Capital Leases Future Minimum Payments Due Current
CapitalLeasesFutureMinimumPaymentsDueCurrent
26700000
CY2019Q2 us-gaap Capital Leases Future Minimum Payments Due In Two Years
CapitalLeasesFutureMinimumPaymentsDueInTwoYears
26300000
CY2019Q2 us-gaap Capital Leases Future Minimum Payments Due In Three Years
CapitalLeasesFutureMinimumPaymentsDueInThreeYears
25800000
CY2019Q2 us-gaap Capital Leases Future Minimum Payments Due In Four Years
CapitalLeasesFutureMinimumPaymentsDueInFourYears
24700000
CY2019Q2 us-gaap Capital Leases Future Minimum Payments Due In Five Years
CapitalLeasesFutureMinimumPaymentsDueInFiveYears
23900000
CY2019Q2 us-gaap Capital Leases Future Minimum Payments Due Thereafter
CapitalLeasesFutureMinimumPaymentsDueThereafter
58400000
CY2019Q2 us-gaap Capital Leases Future Minimum Payments Due
CapitalLeasesFutureMinimumPaymentsDue
185800000
CY2019Q2 us-gaap Capital Leases Future Minimum Payments Interest Included In Payments
CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments
38600000
CY2019Q2 us-gaap Capital Leases Future Minimum Payments Present Value Of Net Minimum Payments
CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments
147200000
CY2019 us-gaap Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths
1900000
CY2019Q2 pfgc Derivative Number Of Arrangement
DerivativeNumberOfArrangement
5
CY2019 us-gaap Derivative Nonmonetary Notional Amount Volume
DerivativeNonmonetaryNotionalAmountVolume
7500000
CY2019Q2 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
2400000
CY2018Q2 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
12500000
CY2019Q2 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
2500000
CY2019Q2 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
2400000
CY2019Q2 us-gaap Derivative Asset Not Offset Policy Election Deduction
DerivativeAssetNotOffsetPolicyElectionDeduction
400000
CY2019Q2 us-gaap Derivative Assets
DerivativeAssets
2000000.0
CY2018Q2 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
12500000
CY2018Q2 us-gaap Derivative Assets
DerivativeAssets
12500000
CY2019Q2 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
2500000
CY2019Q2 us-gaap Derivative Liability Not Offset Policy Election Deduction
DerivativeLiabilityNotOffsetPolicyElectionDeduction
400000
CY2019Q2 us-gaap Derivative Liabilities
DerivativeLiabilities
2100000
CY2019Q2 us-gaap Derivative Net Liability Position Aggregate Fair Value
DerivativeNetLiabilityPositionAggregateFairValue
2100000
CY2019Q2 us-gaap Assets Needed For Immediate Settlement Aggregate Fair Value
AssetsNeededForImmediateSettlementAggregateFairValue
2100000
CY2016Q3 pfgc Insurance Program Liabilities
InsuranceProgramLiabilities
87300000
CY2017 pfgc Insurance Program Liabilities Charged To Costs And Expenses
InsuranceProgramLiabilitiesChargedToCostsAndExpenses
165200000
CY2017 pfgc Payment Of Insurance Premium
PaymentOfInsurancePremium
154700000
CY2017Q3 pfgc Insurance Program Liabilities
InsuranceProgramLiabilities
97800000
CY2018 pfgc Insurance Program Liabilities Charged To Costs And Expenses
InsuranceProgramLiabilitiesChargedToCostsAndExpenses
164500000
CY2018 pfgc Payment Of Insurance Premium
PaymentOfInsurancePremium
154900000
CY2018Q2 pfgc Insurance Program Liabilities
InsuranceProgramLiabilities
107400000
CY2019 pfgc Additional Liabilities Assumed In Connection With An Acquisition
AdditionalLiabilitiesAssumedInConnectionWithAnAcquisition
5700000
CY2019 pfgc Insurance Program Liabilities Charged To Costs And Expenses
InsuranceProgramLiabilitiesChargedToCostsAndExpenses
173000000.0
CY2019 pfgc Payment Of Insurance Premium
PaymentOfInsurancePremium
163000000.0
CY2019Q2 pfgc Insurance Program Liabilities
InsuranceProgramLiabilities
123100000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
104700000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
89600000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
73800000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
58200000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
40800000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
163800000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due
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