Document and Entity Information - USD ($) |
12 Months Ended | ||
|---|---|---|---|
Jun. 28, 2025 |
Aug. 06, 2025 |
Dec. 27, 2024 |
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| Cover [Abstract] | |||
| Document Type | 10-K | ||
| Amendment Flag | false | ||
| Document Period End Date | Jun. 28, 2025 | ||
| Document Fiscal Year Focus | 2025 | ||
| Document Fiscal Period Focus | FY | ||
| Entity Registrant Name | Performance Food Group Company | ||
| Entity Central Index Key | 0001618673 | ||
| Entity Current Reporting Status | Yes | ||
| Entity Voluntary Filers | No | ||
| Current Fiscal Year End Date | --06-28 | ||
| Entity Filer Category | Large Accelerated Filer | ||
| Entity Well-known Seasoned Issuer | Yes | ||
| Entity Public Float | $ 9,856,418,259 | ||
| Entity Common Stock, Shares Outstanding | 156,519,106 | ||
| Entity Shell Company | false | ||
| Entity Small Business | false | ||
| Entity Emerging Growth Company | false | ||
| ICFR Auditor Attestation Flag | true | ||
| Document Financial Statement Error Correction Flag | false | ||
| Trading Symbol | PFGC | ||
| Entity File Number | 001-37578 | ||
| Entity Tax Identification Number | 43-1983182 | ||
| Entity Address, Address Line One | 12500 West Creek Parkway | ||
| Entity Address, City or Town | Richmond | ||
| Entity Address, State or Province | VA | ||
| Entity Address, Postal Zip Code | 23238 | ||
| City Area Code | 804 | ||
| Local Phone Number | 484-7700 | ||
| Entity Interactive Data Current | Yes | ||
| Title of 12(b) Security | Common Stock, $0.01 par value | ||
| Security Exchange Name | NYSE | ||
| Entity Incorporation, State or Country Code | DE | ||
| Document Annual Report | true | ||
| Document Transition Report | false | ||
| Documents Incorporated by Reference | Portions of the Registrant’s definitive proxy statement to be filed with the Securities and Exchange Commission pursuant to Schedule 14A relating to the Registrant’s Annual Meeting of Stockholders, to be held on or about November 19, 2025, are incorporated by reference in response to Items 10, 11, 12, 13 and 14 of Part III of this Annual Report on Form 10-K. The definitive proxy statement will be filed with the Securities and Exchange Commission not later than 120 days after the Registrant’s fiscal year ended June 28, 2025. |
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| Auditor Name | DELOITTE & TOUCHE LLP | ||
| Auditor Location | Richmond, Virginia | ||
| Auditor Firm Id | 34 | ||
| Auditor Opinion | Opinion on the Financial Statements We have audited the accompanying consolidated balance sheets of Performance Food Group Company and subsidiaries (the “Company”) as of June 28, 2025 and June 29, 2024, the related consolidated statements of operations, comprehensive income, shareholders’ equity, and cash flows for each of the fiscal years in the period ended June 28, 2025, June 29, 2024, and July 1, 2023, and the related notes and the schedule listed in the Index at Item 8 (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of June 28, 2025 and June 29, 2024, and the results of its operations and its cash flows for each of the fiscal years ended June 28, 2025, June 29, 2024, and July 1, 2023, in conformity with accounting principles generally accepted in the United States of America. We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the Company’s internal control over financial reporting as of June 28, 2025, based on criteria established in Internal Control — Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission and our report dated August 13, 2025, expressed an unqualified opinion on the Company’s internal control over financial reporting. |
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions |
Jun. 28, 2025 |
Jun. 29, 2024 |
|---|---|---|
| Statement of Financial Position [Abstract] | ||
| Accounts receivable, allowances | $ 69.0 | $ 55.2 |
| Common stock, par value | $ 0.01 | $ 0.01 |
| Common stock, shares authorized | 1,000,000,000 | 1,000,000,000 |
| Common stock, shares issued | 154,900,000 | 154,200,000 |
| Common stock, shares outstanding | 154,900,000 | 154,200,000 |
| Accumulated other comprehensive loss, net of tax expense | $ 0.9 | $ 1.5 |
Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Jun. 28, 2025 |
Jun. 29, 2024 |
Jul. 01, 2023 |
|
| Income Statement [Abstract] | |||
| Net sales | $ 63,298.9 | $ 58,281.2 | $ 57,254.7 |
| Cost of goods sold | 55,882.3 | 51,704.1 | 50,999.8 |
| Gross profit | 7,416.6 | 6,577.1 | 6,254.9 |
| Operating expenses | 6,600.3 | 5,750.7 | 5,489.1 |
| Operating profit | 816.3 | 826.4 | 765.8 |
| Other expense, net: | |||
| Interest expense | 358.4 | 232.2 | 218.0 |
| Other, net | (0.9) | (2.6) | 3.8 |
| Other expense, net | 357.5 | 229.6 | 221.8 |
| Income before taxes | 458.8 | 596.8 | 544.0 |
| Income tax expense | 118.6 | 160.9 | 146.8 |
| Net income | $ 340.2 | $ 435.9 | $ 397.2 |
| Weighted-average common shares outstanding: | |||
| Basic | 154.8 | 154.4 | 154.2 |
| Diluted | 156.4 | 156.0 | 156.1 |
| Earnings Per Share [Abstract] | |||
| Basic | $ 2.2 | $ 2.82 | $ 2.58 |
| Diluted | $ 2.18 | $ 2.79 | $ 2.54 |
Consolidated Statements of Comprehensive Income - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Jun. 28, 2025 |
Jun. 29, 2024 |
Jul. 01, 2023 |
|
| Statement of Comprehensive Income [Abstract] | |||
| Net income | $ 340.2 | $ 435.9 | $ 397.2 |
| Interest rate swaps: | |||
| Change in fair value, net of tax | (1.3) | 3.4 | 11.5 |
| Reclassification adjustment, net of tax | (5.9) | (12.0) | (8.1) |
| Foreign currency translation adjustment, net of tax | 0.0 | (1.4) | (0.8) |
| Other comprehensive (loss) income | (7.2) | (10.0) | 2.6 |
| Total comprehensive income | $ 333.0 | $ 425.9 | $ 399.8 |
Reconciliation of Cash and Restricted Cash - USD ($) $ in Millions |
Jun. 28, 2025 |
Jun. 29, 2024 |
Jul. 01, 2023 |
Jul. 02, 2022 |
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|---|---|---|---|---|---|---|
| Supplemental Cash Flow Elements [Abstract] | ||||||
| Cash | $ 78.5 | $ 20.0 | ||||
| Restricted cash | [1] | 8.2 | 7.7 | |||
| Total cash and restricted cash | $ 86.7 | $ 27.7 | $ 20.0 | $ 18.7 | ||
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Pay vs Performance Disclosure - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Jun. 28, 2025 |
Jun. 29, 2024 |
Jul. 01, 2023 |
|
| Pay vs Performance Disclosure | |||
| Net Income (Loss) | $ 340.2 | $ 435.9 | $ 397.2 |
Insider Trading Arrangements |
3 Months Ended |
|---|---|
Jun. 28, 2025 | |
| Trading Arrangements, by Individual | |
| Rule 10b5-1 Arrangement Adopted | false |
| Non-Rule 10b5-1 Arrangement Adopted | false |
| Rule 10b5-1 Arrangement Terminated | false |
| Non-Rule 10b5-1 Arrangement Terminated | false |
Cybersecurity Risk Management, Strategy and Governance |
12 Months Ended |
|---|---|
Jun. 28, 2025 | |
| Cybersecurity Risk Management, Strategy, and Governance [Line Items] | |
| Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block] | Item 1C. Cybersecurity Risk Management and Strategy We rely upon information technology networks and systems to process, transmit, and store electronic information, and to manage or support virtually all of our business processes and activities. We also use mobile devices, social networking, and other online activities to connect with our employees, suppliers, business partners, and customers. Accordingly, we maintain a comprehensive Information Security Program, anchored in a multi-tiered, defense-in-depth strategy designed to identify and mitigate risks from cybersecurity threats. We believe that our Information Security Program aligns with industry frameworks and assesses security trends, and facilitates identification and reduction of vulnerabilities. Our cybersecurity strategy considers existing risks to our company and those that we are likely to encounter based on our industry, company profile, and business objectives. Consideration of risks from cybersecurity threats is a key component of our overall enterprise risk management strategy. We have implemented a risk management program to identify and track information risks, including cybersecurity threats, from many different sources, including third parties, technology projects, acquisitions, risk assessments, technical assessments, and internal/external audits, and assess them based on severity. Our annual information technology general control testing, which is conducted in connection with our internal control over financial reporting review process, and periodic reviews of risks and controls related to cybersecurity threats that may impact financial reporting control objectives also serve to identify and track information risks. Additionally, we partner with independent third-party service providers to regularly perform cybersecurity assessments, such as network and application penetration testing. To emphasize the importance of cybersecurity awareness, advise of cybersecurity threats, and provide examples of how to mitigate such threats in their use of PFG systems, we also maintain an information security training program that combines several forms of training, including routine phishing exercises, across our workforce. We acknowledge the potential cybersecurity risks inherent in our relationships with third parties. Accordingly, PFG has implemented a third-party risk management program to identify and oversee such risks. Our third-party risk assessment framework evaluates the cybersecurity practices and controls of third parties. Activities undertaken in relation to third parties may include due diligence inquiries, reviewing security policies and program capabilities, reviewing security certifications and results of independent audits. Review and establishment of contractual requirements is performed in accordance with the level of risk presented by a third party. We maintain a regularly revised Cybersecurity Incident Response Plan and Cybersecurity Incident Notification Policy, which provide protocols for evaluating and responding to cybersecurity incidents, including escalation of information to senior leadership, including the Board of Directors, as appropriate, and meeting external reporting obligations. We periodically perform tabletop exercises where we perform walkthroughs of cybersecurity incident situations to test our response plans. To date, we have not experienced any cybersecurity incidents that materially affected, or are likely to materially affect, our business strategy, results of operations, or financial condition, but future incidents cannot be predicted. See “Part 1, Item 1A. Risk Factors” for additional information regarding cybersecurity-related risks that could impact our business. Governance Our Board of Directors executes its cybersecurity risk oversight function as a whole and by delegating responsibility to the Technology and Cybersecurity Committee of our Board of Directors, which oversees our management of risks relating to information technology security and our cybersecurity policies, controls and procedures. The Audit and Finance Committee of our Board of Directors oversees our enterprise risk management program as a whole and risk management regarding major financial risk exposure, including the potential financial impact of cybersecurity incidents. The Technology and Cybersecurity Committee receives quarterly presentations and reports on cybersecurity and information security risks from management, including our Executive Vice President and Chief Information Officer (“CIO”) and Vice President, Chief Information Security Officer (“CISO”). These presentations and reports address a broad range of topics, including progress of security initiatives, strategy, key performance indicators, cybersecurity risks, and notable cybersecurity incidents. In addition, the Technology and Cybersecurity Committee and the Board of Directors receive briefings from time to time from outside experts for an independent view on cybersecurity risks and emerging cybersecurity threats, including best practices and current trends in cybersecurity. Our CIO’s experience includes over 25 years of experience in information technology leadership roles, including ProBuild Holdings, the nation’s largest supplier of building materials; Gates Corporation, a manufacturer/distributor of automotive parts; and Nupremis Inc., a start-up that provided hosting and managed services. We also have a dedicated CISO, whose team is responsible for management of PFG’s Information Security Program, policies, compliance with internal/external mandates, strategy, security incident planning and response. Our CISO reports to our CIO and has more than 20 years of cybersecurity, technology assurance and controls experience, including 18 years as a Certified Information Systems Security Professional (CISSP) and 13 years at PFG in information security and compliance. Our CISO joined PFG following several years of experience working in information security consulting, including Big 4 Accounting and Assurance, as well as working in industries including banking and finance. |
| Cybersecurity Risk Management Third Party Engaged [Flag] | true |
| Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] | true |
| Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] | false |
| Cybersecurity Risk Board of Directors Oversight [Text Block] | Our Board of Directors executes its cybersecurity risk oversight function as a whole and by delegating responsibility to the Technology and Cybersecurity Committee of our Board of Directors, which oversees our management of risks relating to information technology security and our cybersecurity policies, controls and procedures. The Audit and Finance Committee of our Board of Directors oversees our enterprise risk management program as a whole and risk management regarding major financial risk exposure, including the potential financial impact of cybersecurity incidents. The Technology and Cybersecurity Committee receives quarterly presentations and reports on cybersecurity and information security risks from management, including our Executive Vice President and Chief Information Officer (“CIO”) and Vice President, Chief Information Security Officer (“CISO”). These presentations and reports address a broad range of topics, including progress of security initiatives, strategy, key performance indicators, cybersecurity risks, and notable cybersecurity incidents. In addition, the Technology and Cybersecurity Committee and the Board of Directors receive briefings from time to time from outside experts for an independent view on cybersecurity risks and emerging cybersecurity threats, including best practices and current trends in cybersecurity. |
| Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] | Our Board of Directors executes its cybersecurity risk oversight function as a whole and by delegating responsibility to the Technology and Cybersecurity Committee of our Board of Directors, which oversees our management of risks relating to information technology security and our cybersecurity policies, controls and procedures. |
| Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] | The Technology and Cybersecurity Committee receives quarterly presentations and reports on cybersecurity and information security risks from management, including our Executive Vice President and Chief Information Officer (“CIO”) and Vice President, Chief Information Security Officer (“CISO”). These presentations and reports address a broad range of topics, including progress of security initiatives, strategy, key performance indicators, cybersecurity risks, and notable cybersecurity incidents. In addition, the Technology and Cybersecurity Committee and the Board of Directors receive briefings from time to time from outside experts for an independent view on cybersecurity risks and emerging cybersecurity threats, including best practices and current trends in cybersecurity. |
| Cybersecurity Risk Role of Management [Text Block] | These presentations and reports address a broad range of topics, including progress of security initiatives, strategy, key performance indicators, cybersecurity risks, and notable cybersecurity incidents. In addition, the Technology and Cybersecurity Committee and the Board of Directors receive briefings from time to time from outside experts for an independent view on cybersecurity risks and emerging cybersecurity threats, including best practices and current trends in cybersecurity. |
| Cybersecurity Risk Management Positions or Committees Responsible [Flag] | true |
| Cybersecurity Risk Management Positions or Committees Responsible [Text Block] | The Audit and Finance Committee of our Board of Directors oversees our enterprise risk management program as a whole and risk management regarding major financial risk exposure, including the potential financial impact of cybersecurity incidents. |
| Cybersecurity Risk Management Expertise of Management Responsible [Text Block] | Our CIO’s experience includes over 25 years of experience in information technology leadership roles, including ProBuild Holdings, the nation’s largest supplier of building materials; Gates Corporation, a manufacturer/distributor of automotive parts; and Nupremis Inc., a start-up that provided hosting and managed services. We also have a dedicated CISO, whose team is responsible for management of PFG’s Information Security Program, policies, compliance with internal/external mandates, strategy, security incident planning and response. Our CISO reports to our CIO and has more than 20 years of cybersecurity, technology assurance and controls experience, including 18 years as a Certified Information Systems Security Professional (CISSP) and 13 years at PFG in information security and compliance. Our CISO joined PFG following several years of experience working in information security consulting, including Big 4 Accounting and Assurance, as well as working in industries including banking and finance. |
| Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] | The Technology and Cybersecurity Committee receives quarterly presentations and reports on cybersecurity and information security risks from management, including our Executive Vice President and Chief Information Officer (“CIO”) and Vice President, Chief Information Security Officer (“CISO”). These presentations and reports address a broad range of topics, including progress of security initiatives, strategy, key performance indicators, cybersecurity risks, and notable cybersecurity incidents. In addition, the Technology and Cybersecurity Committee and the Board of Directors receive briefings from time to time from outside experts for an independent view on cybersecurity risks and emerging cybersecurity threats, including best practices and current trends in cybersecurity. |
| Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] | true |
Summary of Business Activities |
12 Months Ended |
|---|---|
Jun. 28, 2025 | |
| Accounting Policies [Abstract] | |
| Summary of Business Activities | 1. Summary of Business Activities Business Overview Performance Food Group Company (the “Company”), through its subsidiaries, markets and distributes primarily national and company-branded food and food-related products to customer locations across North America. The Company serves both of the major customer types in the restaurant industry: (i) independent customers, and (ii) multi-unit, or chain customers, which include some of the most recognizable family and casual dining restaurant chains, as well as schools, business and industry locations, healthcare facilities, and retail establishments. The Company also specializes in distributing candy, snacks, beverages, cigarettes, other tobacco products, health and beauty care products and other items to vending distributors, big-box retailers, theaters, convenience stores, drug stores, grocery stores, travel providers, hospitality providers, and direct to consumers. Fiscal Years The Company’s fiscal year ends on the Saturday nearest to June 30th. This resulted in a 52-week year for fiscal 2025, 2024, and 2023. References to “fiscal 2025” are to the 52-week period ended June 28, 2025, references to “fiscal 2024” are to the 52-week period ended June 29, 2024, and references to “fiscal 2023” are to the 52-week period ended July 1, 2023. Share Repurchase Program In November 2022, the Board of Directors of the Company authorized a share repurchase program for up to $300 million of the Company’s outstanding common stock. Under this share repurchase program, during the fiscal year ended June 28, 2025, the Company repurchased and subsequently retired 0.8 million shares of common stock, for a total of $57.6 million or an average cost of $75.53 per share. During the fiscal year ended June 29, 2024, the Company repurchased and subsequently retired 1.3 million shares of common stock, for a total of $78.1 million or an average cost of $58.83 per share. During the fiscal year ended July 1, 2023, the Company repurchased and subsequently retired 0.2 million shares of common stock, for a total of $11.2 million or an average cost of $56.06 per share. On May 27, 2025, the Board of Directors authorized a new share repurchase program for up to $500 million of the Company’s outstanding common stock. This authorization replaces the previously authorized $300 million share repurchase program. The new share repurchase program has an expiration date of May 27, 2029 and may be amended, suspended, or discontinued at any time at the Company's discretion, subject to compliance with applicable laws. As of June 28, 2025, $500 million remained available for share repurchases. |
Summary of Significant Accounting Policies and Estimates |
12 Months Ended |
|---|---|
Jun. 28, 2025 | |
| Accounting Policies [Abstract] | |
| Summary of Significant Accounting Policies and Estimates | 2. Summary of Significant Accounting Policies and Estimates Principles of Consolidation The consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany balances and transactions have been eliminated. Basis of Presentation The financial statements include consolidated balance sheets, consolidated statements of operations, consolidated statements of comprehensive income, consolidated statements of shareholders’ equity, and consolidated statements of cash flows. Certain prior period amounts have been reclassified to conform to current period presentation. In the opinion of management, all adjustments, which consist of normal recurring adjustments, except as otherwise disclosed, necessary to present fairly the financial position, results of operations, comprehensive income, shareholders’ equity, and cash flows for all periods presented have been made. Use of Estimates 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, depreciation, amortization, determination of useful lives of tangible and intangible assets, and income taxes. Actual results could differ from these estimates. Risks and Uncertainties Our business, our industry and the economy are influenced by a number of general macroeconomic factors, including, but not limited to, reduced demand for our products related to unfavorable macroeconomic conditions triggered by developments beyond our control, including geopolitical dynamics and other events that trigger economic volatility or negatively affect consumer confidence and discretionary spending. We continue to actively monitor the impacts of the evolving macroeconomic and geopolitical landscape, including rapidly evolving tariff and global trade policies, on all aspects of our business. The Company and our industry may face challenges related to uncertain economic conditions and heightened uncertainty in the financial markets, inflationary pressure, an uncertain political environment, supply chain disruptions, and lower disposable incomes due to macroeconomic conditions. Although rapidly evolving tariff and global trade policies caused increased uncertainty in the second half of fiscal 2025, we saw little impact to our results in fiscal 2025. However, the extent and duration of the tariffs and the resulting future impact on general economic conditions and our future financial position, liquidity, and results of operations remains uncertain. Sustained macroeconomic challenges, whether due to tariffs or otherwise, could negatively affect consumer discretionary spending decisions within our customers’ establishments, which could negatively impact our sales and profitability. Cash The Company maintains its cash primarily in institutions insured by the Federal Deposit Insurance Corporation (“FDIC”). At times, the Company’s cash balance may be in amounts that exceed the FDIC insurance limits. Outstanding checks in excess of deposits are book overdrafts that result in a credit cash balance in the general ledger and are then reinstated as accounts payable. Changes in accounts payable, including checks in excess of deposits, are presented in the operating activities section of the statement of cash flows. Restricted Cash The Company is required by its insurers to collateralize a part of the deductibles for its workers’ compensation and liability claims. The Company has chosen to satisfy these collateral requirements primarily by depositing funds in trusts or by issuing letters of credit. The restricted cash balances of $8.2 million and $7.7 million as of June 28, 2025 and June 29, 2024, respectively, represent funds deposited in insurance trusts which are considered Level 1 fair value measurements on the fair value hierarchy. Accounts Receivable Accounts receivable are comprised of trade receivables from customers in the ordinary course of business, are recorded at the invoiced amount, adjusted for any discounts granted to customers, and primarily do not bear interest. Accounts receivable also includes other receivables primarily related to various rebate and promotional incentives with the Company’s suppliers. Receivables are recorded net of the allowance for credit losses on the accompanying consolidated balance sheets. The Company evaluates the collectability of its accounts receivable based on a combination of factors. The Company regularly analyzes its significant customer accounts, and when it becomes aware of a specific customer’s inability to meet its financial obligations to the Company, such as bankruptcy filings or deterioration in the customer’s operating results or financial position, the Company records a specific reserve for bad debt to reduce the related receivable to the amount it reasonably believes is collectible. The Company also records reserves for bad debt for other customers based on a variety of factors, including the length of time the receivables are past due, macroeconomic considerations, and historical experience. If circumstances related to specific customers change, the Company’s estimates of the recoverability of receivables could be further adjusted. The Company recorded $22.7 million in provision in fiscal 2025, $19.8 million in provision in fiscal 2024, and $6.0 million in provision in fiscal 2023 related to reserves for expected credit losses. Inventories The Company’s inventories consist primarily of food and non-food products. The Company values inventories at the lower of cost or net realizable value using the first-in, first-out (“FIFO”) method, weighted average cost method, and last-in, first-out (“LIFO”) method. For its LIFO based inventory the Company utilizes the link chain technique of the dollar value method. At June 28, 2025, the Company’s inventory balance of $3,887.7 million consisted primarily of finished goods, $2,163.4 million of which was valued at FIFO, $1,483.3 million valued at LIFO, and $241.0 million valued at weighted average cost. At June 29, 2024, the Company’s inventory balance of $3,314.7 million consisted of $2,164.4 million valued at FIFO and $1,150.3 million valued at LIFO. At June 28, 2025 and June 29, 2024, the LIFO balance sheet reserves were $363.0 million and $275.0 million, respectively. Costs in inventory include the purchase price of the product and freight charges to deliver the product to the Company’s warehouses and are net of certain consideration received from vendors in the amount of $112.1 million and $97.6 million as of June 28, 2025 and June 29, 2024, respectively. The Company adjusts its inventory balances for slow-moving, excess, and obsolete inventories. These adjustments are based upon inventory category, inventory age, specifically identified items, and overall economic conditions. As of June 28, 2025 and June 29, 2024, the Company had adjusted its inventories by approximately $18.0 million and $16.5 million, respectively. Property, Plant, and Equipment Property, plant, and equipment are stated at cost, less accumulated depreciation and amortization. Cost includes the price paid to acquire or construct the assets, required installation costs, applicable interest charges capitalized during the construction period, and any expenditure that substantially adds to the value or substantially extends the useful life of an existing asset. Additionally, the Company capitalizes qualified costs related to software obtained or developed for internal use as a component of property, plant, and equipment. Routine maintenance and repairs are charged to expense as incurred. The Company begins depreciation and amortization (“depreciation”) for property, plant, and equipment when an asset is both in the location and condition for its intended use. Depreciation of property, plant and equipment, including finance lease assets, is calculated primarily using the straight-line method and is included primarily in operating expenses on the consolidated statements of operations. Annually, or when certain triggering events occur, the Company assesses the useful lives of its property, plant and equipment. Long-lived assets held and used by the Company are tested for recoverability whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. For purposes of evaluating the recoverability of long-lived assets, the Company compares the carrying value of the asset or asset group to the projected, undiscounted future cash flows expected to be generated by the long-lived asset or asset group. Based on the Company’s assessments, immaterial losses related to the impairment of property, plant and equipment were recorded in fiscal 2025 and fiscal 2024, and no impairment losses related to property, plant, and equipment were recorded in fiscal 2023. When assets are retired or otherwise disposed, the costs and related accumulated depreciation are removed from the accounts. The difference between the net book value of the asset and proceeds from disposition is recognized as a gain or loss. Acquisitions, Goodwill, and Other Intangible Assets The Company accounts for acquired businesses using the acquisition method of accounting. The Company’s financial statements reflect the operations of an acquired business starting from the completion of the acquisition. Goodwill and other intangible assets represent the excess of cost of an acquired entity over the amounts specifically assigned to those tangible net assets acquired in a business combination. Other intangible assets typically include customer relationships, trade names, technology, non-compete agreements, and favorable lease assets. Goodwill and intangibles with indefinite lives are not amortized. Intangibles with definite lives are amortized on a straight-line basis over their useful lives, which generally range from to twelve years. Annually, or when certain triggering events occur, the Company assesses the useful lives of its intangibles with definite lives. The gross cost and accumulated amortization of intangible assets are removed when the recorded amounts are fully amortized and the asset is no longer in use or the contract has expired. Amortization expense is recognized in operating expenses on the consolidated statements of operations. Certain assumptions, estimates, and judgments are used in determining the fair value of net assets acquired, including goodwill and other intangible assets, as well as determining the allocation of goodwill to the reporting units. Accordingly, the Company may obtain the assistance of third-party valuation specialists for the valuation of significant tangible and intangible assets. The fair value estimates are based on available historical information and on future expectations and assumptions deemed reasonable by management but that are inherently uncertain. Significant estimates and assumptions inherent in the valuations reflect a consideration of other marketplace participants and include the amount and timing of future cash flows (including expected growth rates and profitability), economic barriers to entry, a brand’s relative market position, and the discount rate applied to the cash flows. Unanticipated market or macroeconomic events and circumstances may occur that could affect the accuracy or validity of the estimates and assumptions. Refer to Note 4. Business Combinations for further discussion of the goodwill and other intangible assets associated with the Company’s acquisitions. The Company is required to test goodwill and other intangible assets with indefinite lives for impairment annually, or more often if circumstances indicate. Indicators of goodwill impairment include, but are not limited to, significant declines in the markets, industries, and customers that buy the Company’s products, changes in the estimated future cash flows of its reporting units, changes in capital markets, and changes in its market capitalization. For goodwill and indefinite-lived intangible assets, the Company’s policy is to assess impairment at the end of each fiscal year. The Company performs a qualitative assessment (commonly referred to as “step zero”) to determine whether further quantitative analysis for impairment of goodwill is necessary. In performing step zero for the Company’s goodwill impairment test, the Company is required to make assumptions and judgments including but not limited to the following: the evaluation of macroeconomic conditions as related to the Company’s business, industry and market trends, and the overall future financial performance of its reporting units and future opportunities in the markets in which they operate. If impairment indicators are present after performing step zero, the Company would perform a quantitative impairment analysis to estimate the fair value of goodwill. During fiscal 2025, fiscal 2024, and fiscal 2023, the Company performed the step zero analysis for its goodwill impairment test and, based on this analysis, determined that no further quantitative impairment test was necessary for the Company’s reporting units within its reportable segments. Based on the Company’s assessment, there were no impairments recorded in fiscal 2025 or fiscal 2024. There was an immaterial impairment of goodwill related to reporting units within the Corporate & All Other segment in fiscal 2023. Insurance Program The Company maintains high-deductible insurance programs covering portions of general and vehicle liability and workers’ compensation. The amounts in excess of self-insured levels are fully insured by third-party insurance carriers, subject to certain limitations and exclusions. The Company also maintains self-funded group medical insurance. The Company accrues its estimated liability for these deductibles, including an estimate for incurred but not reported claims, based on known claims and past claims history. The estimated short-term portion of these accruals is included in accrued expenses on the Company’s consolidated balance sheets, while the estimated long-term portion of the accruals is included in other long-term liabilities. The provisions for insurance claims include estimates of the frequency and timing of claims occurrence, as well as the ultimate amounts to be paid. These insurance programs are managed by a third party, and the deductibles for general and vehicle liability and workers compensation are primarily collateralized by letters of credit, restricted cash, and cash held by the insurance carrier that offsets the insurance accruals. Other Comprehensive (Loss) Income (“OCI”) Other comprehensive (loss) income is defined as all changes in equity during each period except for those resulting from net income (loss) and investments by or distributions to shareholders. Other comprehensive (loss) income consists primarily of gains or losses from derivative financial instruments that are designated in a hedging relationship and foreign currency translation from foreign operations. For derivative instruments that qualify as cash flow hedges, the gain or loss on the derivative instrument is reported as a component of other comprehensive income and reclassified into earnings during the same period or periods during which the hedged transaction affects earnings. Revenue Recognition The Company markets and distributes primarily national and Company-branded food and food-related products to customer locations across North America. The Foodservice segment primarily services restaurants and supplies a broad line of products to its customers, including the Company’s Performance Brands and custom-cut meats and seafood, as well as products that are specific to each customer’s menu requirements. The Convenience segment primarily distributes candy, snacks, beverages, cigarettes and other nicotine products, food and food-service products, and other items to convenience stores. Specialty primarily specializes in distributing candy, snacks, beverages, and other food items nationally to vending and office coffee service distributors as well as direct to customer locations including theater and retail locations. The Company disaggregates revenue by customer type and product offerings and determined that disaggregating revenue at the segment level achieves the disclosure objective to depict how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors. Refer to Note 19. Segment Information for external revenue by reportable segment. The Company assesses the products and services promised in its contracts with customers and identifies a performance obligation for each promise to transfer to the customer a product or service (or a bundle of products or services) that is distinct. The Company determined that fulfilling and delivering customer orders constitutes a single performance obligation. Revenue is recognized at the point in time when the Company has satisfied its performance obligation and the customer has obtained control of the products. The Company determined that the customer is able to direct the use of, and obtain substantially all of the benefits from, the products at the time the products are delivered to the customer’s requested destination. The Company considers control to have transferred upon delivery because the Company has a present right to payment at this time, the customer has legal title to the products, the Company has transferred physical possession of the assets, and the customer has significant risks and rewards of ownership of the products. The transaction price recognized is the invoiced price, adjusted for any incentives, such as rebates and discounts granted to the customer. The Company estimates expected returns based on an analysis of historical experience. We adjust our estimate of revenue at the earlier of when the amount of consideration we expect to receive changes or when the consideration becomes fixed. The Company determined it is responsible for collecting and remitting state and local excise taxes on cigarettes and other tobacco products and presents billed excise taxes as part of revenue. Net sales include amounts related to state and local excise taxes which totaled $3.4 billion, $3.6 billion, and $3.9 billion for fiscal 2025, fiscal 2024, and fiscal 2023, respectively. The Company has made a policy election to exclude sales tax from the transaction price. The Company does not have any significant payment terms as payment is received shortly after the point of sale. The Company has customer contracts in which incentives are paid upfront to certain customers. These payments have become industry practice and are not related to financing the customer’s business, nor are they associated with any distinct good or service to be received from the customer. These incentive payments are capitalized and amortized over the life of the contract or the expected life of the customer relationship on a straight-line basis. The Company’s contract asset for these incentives totaled $67.0 million and $55.4 million as of June 28, 2025 and June 29, 2024, respectively. The Company recognizes substantially all of its revenue on a gross basis as a principal. When assessing whether the Company is acting as a principal or an agent, the Company considered the indicators that an entity controls the specified good or service before it is transferred to the customer detailed in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 606-10-55-39. The Company believes it earns substantially all revenue as a principal from the sale of products because the Company is responsible for the fulfillment and acceptability of products purchased. Additionally, the Company holds the general inventory risk for the products, as it takes title to the products before the products are ordered by customers and maintains products in inventory. Cost of Goods Sold Cost of goods sold includes amounts paid to suppliers and manufacturers for products sold, the cost of transportation necessary to bring the products to the Company’s facilities, plus depreciation related to processing facilities and equipment. The Company determined it is responsible for remitting state and local excise taxes on cigarettes and other tobacco products and presents remittances of excise taxes as part of cost of goods sold. Additionally, federal excise taxes are levied on manufacturers who pass these taxes on to the Company as a portion of the product costs. As a result, federal excise taxes are not a component of the Company’s excise taxes, but are reflected in the cost of inventory until products are sold. Operating Expenses Operating expenses include warehouse, delivery, occupancy, insurance, depreciation, amortization, salaries and wages, employee benefits expenses, and other miscellaneous operating expenses. Vendor Rebates and Other Promotional Incentives The Company participates in various rebate and promotional incentives with its suppliers, either unilaterally or in combination with purchasing cooperatives and other procurement partners, that consist primarily of volume and growth rebates, annual and multi-year incentives, and promotional programs. Consideration received under these incentives is generally recorded as a reduction of cost of goods sold. However, as described below, in certain limited circumstances the consideration is recorded as a reduction of operating expenses incurred by the Company. Consideration received may be in the form of cash and/or invoice deductions. Changes in the estimated amount of incentives to be received are treated as changes in estimates and are recognized in the period of change. Consideration received for incentives that contain volume and growth rebates, annual incentives, and multi-year incentives are recorded as a reduction of cost of goods sold. The Company rationally allocates the consideration for these incentives to each underlying transaction that results in progress by the Company toward earning the incentives. If the incentives are not probable and reasonably estimable, the Company records the incentives as the underlying objectives or milestones are achieved. The Company records annual and multi-year incentives when earned, generally over the agreement period. The Company uses current and historical purchasing data, forecasted purchasing volumes, and other factors in estimating whether the underlying objectives or milestones will be achieved. Consideration received to promote and sell the supplier’s products is typically a reimbursement of marketing costs incurred by the Company and is recorded as a reduction of the Company’s operating expenses. If the amount of consideration received from the suppliers exceeds the Company’s marketing costs, any excess is recorded as a reduction of cost of goods sold. Shipping and Handling Costs Shipping and handling costs, which include costs related to the selection of products and delivery to customers, are recorded in operating expenses in the consolidated statements of operations. The Company incurred shipping and handling costs of $2,867.1 million, $2,582.2 million, and $2,502.8 million for fiscal 2025, fiscal 2024, and fiscal 2023, respectively. Stock-Based Compensation The Company’s stock-based compensation plans consist of the Performance Food Group Company 2007 Management Option Plan (the “2007 Option Plan”), the Performance Food Group Company 2015 Omnibus Incentive Plan (the “2015 Incentive Plan”), and the Performance Food Group Company 2024 Omnibus Incentive Plan (the “2024 Incentive Plan”). The Company follows the fair value recognition provisions of FASB ASC 718-10-25, Compensation—Stock Compensation—Overall—Recognition which requires that all stock-based compensation be recognized as an expense in the financial statements. The Company recognizes expense for its stock-based compensation based on the fair value of the awards that are granted. The Company estimates the fair value of service-based options using a Black-Scholes option pricing model. The fair values of service-based restricted stock, restricted stock with performance conditions and restricted stock units are based on the Company’s stock price on the date of grant. The Company estimates the fair value of options and restricted stock with market conditions using a Monte Carlo simulation. Compensation cost is recognized ratably over the requisite service period. For those options and restricted stock that have a performance condition, compensation expense is based upon the number of options or shares, as applicable, expected to vest after assessing the probability that the performance criteria will be met. The Company has made a policy election to account for forfeitures as they occur. Compensation expense related to the Company’s employee stock purchase plan, which allows eligible employees to purchase our common stock at a 15% discount, represents the purchase discount plus the fair value of the lookback provision. The fair value of the lookback provision is determined on the first day of the offering period using a Black-Scholes option-pricing model. Income Taxes The Company follows FASB ASC 740-10, Income Taxes—Overall, which requires the use of the asset and liability method of accounting for deferred income taxes. Deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the tax bases of assets and liabilities and their reported amounts. The Company takes current and future expirations into consideration when evaluating the need for valuation allowances against deferred tax assets. A valuation allowance is provided when it is more likely than not that all or a portion of the deferred tax assets will not be realized. The Company considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. Future tax benefits, including net operating loss carryforwards, are recognized to the extent that realization of such benefits is more likely than not. Investment tax credits are recognized as a reduction of income tax expense. Uncertain tax positions are reviewed on an ongoing basis and are adjusted in light of changing facts and circumstances, including progress of tax audits, developments in case law, and expirations of statutes of limitations. Such adjustments are reflected in the tax provision as appropriate. Income tax calculations are based on the tax laws enacted as of the date of the financial statements. Derivative Instruments and Hedging Activities As required by FASB ASC 815-20, Derivatives and Hedging—Hedging—General, the Company records all derivatives on the balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting, and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. The Company primarily uses derivative contracts to manage the exposure to variability in expected future cash flows. A portion of these derivatives is designated and qualifies as cash flow hedges. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the earnings effect of the hedged forecasted transactions in a cash flow hedge. The Company may enter into derivative contracts that are intended to economically hedge certain of its risks, even though hedge accounting does not apply, or the Company elects not to apply hedge accounting under FASB ASC 815-20. In the event that the Company does not apply the provisions of hedge accounting, the derivative instruments are recorded as an asset or liability on the consolidated balance sheets at fair value, and any changes in fair value are recorded as unrealized gains or losses and included in Other expense in the accompanying consolidated statement of operations. See Note 9. Derivatives and Hedging Activities for additional information on the Company’s use of derivative instruments. The Company discloses derivative instruments and hedging activities in accordance with FASB ASC 815-10-50, Derivatives and Hedging—Overall—Disclosure. FASB ASC 815-10-50 sets forth the disclosure requirements with the intent to provide users of financial statements with an enhanced understanding of: (a) how and why an entity uses derivative instruments, (b) how derivative instruments and related hedged items are accounted for under FASB ASC 815-20, and (c) how derivative instruments and related hedged items affect an entity’s financial position, financial performance, and cash flows. FASB ASC 815-10-50 requires qualitative disclosures about objectives and strategies for using derivatives, quantitative disclosures about the fair value of and gains and losses on derivative instruments, and disclosures about credit-risk-related contingent features in derivative instruments. Fair Value Measurements Fair value is defined as an exit price, representing the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The accounting guidance establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The three levels of the fair value hierarchy are as follows: • Level 1—Observable inputs such as quoted prices for identical assets or liabilities in active markets; • Level 2—Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly for substantially the full term of the asset or liability; and • Level 3—Unobservable inputs in which there are little or no market data, which include management’s own assumption about the risk assumptions market participants would use in pricing an asset or liability. The Company’s derivative instruments are carried at fair value and are evaluated in accordance with this hierarchy. Contingent Liabilities The Company records a liability related to contingencies when a loss is considered to be probable and a reasonable estimate of the loss can be made. This estimate would include legal settlements, if applicable. Foreign Currency Translation The assets and liabilities of the Company’s foreign operations, whose functional currency is the local currency, are translated to U.S. dollars at exchange rates in effect at period-end. Translation gains and losses are recorded in Accumulated Other Comprehensive Income (“AOCI”) as a component of stockholders’ equity. Revenue and expenses from foreign operations are translated using the monthly average exchange rates in effect during the period in which the transactions occur. The Company recognizes gains or losses on foreign currency exchange transactions in the consolidated statements of operations. The Company currently does not hedge foreign currency cash flows. |
Recently Issued Accounting Pronouncements |
12 Months Ended |
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Jun. 28, 2025 | |
| Accounting Changes and Error Corrections [Abstract] | |
| Recently Issued Accounting Pronouncements | 3. Recently Issued Accounting Pronouncements Recently Adopted Accounting Pronouncements In November 2023, the FASB issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The update expands public entities’ segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss. It further requires disclosure of the amount and description of its composition for other segment items, and interim disclosures of both a reportable segment’s profit or loss and assets. The guidance requires disclosure of the title and position of the chief operating decision maker and how reported measures of segment profit or loss are used to assess performance and allocate resources. This pronouncement is effective for annual periods beginning after December 15, 2023, and interim periods within annual reporting periods beginning after December 15, 2024, with early adoption permitted. The amendments in this update have been adopted for fiscal 2025 in this Form 10-K and the required expanded disclosures are included in Note 19. Segment Information. The amendments in this update have been applied retrospectively to each period presented in the consolidated financial statements. The provisions of the new standard do not impact the Company’s results of operations, financial position, or cash flows. Interim reporting requirements are effective for our Quarterly Reports on Forms 10-Q beginning in the fiscal year ending June 27, 2026 (“fiscal 2026”). Recently Issued Accounting Pronouncements Not Yet Adopted In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The update expands public entities’ income tax disclosure requirements primarily by requiring disaggregation of specific categories and reconciling items that meet a quantitative threshold within the rate reconciliation, as well as disaggregation of income taxes paid by jurisdiction. This pronouncement is effective for annual periods beginning after December 15, 2024, with early adoption permitted. The Company will adopt the new standard in fiscal 2026. The amendments in this update should be applied on a prospective basis, with retrospective application permitted. The provisions of the new standard will not impact the Company’s results of operations, financial position, or cash flows but will require the Company to expand its current income tax disclosures. In November 2024, the FASB issued ASU 2024-03, Income Statement--Reporting Comprehensive Income--Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. The update improves the disclosures about a public entity’s expenses and addresses requests from investors for more detailed information about the types of expenses in commonly presented expense captions. In January 2025, the FASB released ASU 2025-01 to clarify ASU 2024-03 is effective for annual periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027. The amendments in this update will be adopted for the fiscal year ending July 1, 2028 (“fiscal 2028”), with annual reporting requirements effective for our fiscal 2028 Annual Report on Form 10-K and interim reporting requirements effective for our Quarterly Reports on Forms 10-Q within the fiscal year ending June 30, 2029. The amendments in this update should be applied prospectively, however, retrospective application is permitted. The Company is in the process of assessing the impact of this ASU on its future consolidated financial statements. |
Business Combinations |
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| Business Combination [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Business Combinations | 4. Business Combinations During fiscal year 2025, the Company paid cash of $2.6 billion, net of cash received, for four acquisitions reported in Foodservice, Convenience, and Corporate and All Other. During fiscal year 2024, the Company paid cash of $307.7 million for two acquisitions, which are reported in the Specialty segment and Corporate and All Other. During fiscal year 2023, the Company paid cash of $63.8 million for one acquisition, which is reported in Corporate and All Other. The fiscal 2024 and fiscal 2023 acquisitions did not materially affect the Company’s results of operations. Below is information related to the purchase price allocation for the four acquisitions in fiscal 2025. Assets acquired and liabilities assumed are recognized at their respective fair values as of the acquisition date. The following table summarizes the purchase price allocation for each major class of assets acquired and liabilities assumed for the four acquisitions for fiscal 2025:
Intangible assets consist primarily of customer relationships and trade names with useful lives of to twelve years, and a total weighted-average useful life of 11.6 years. The excess of the estimated fair value of the assets acquired and the liabilities assumed over consideration paid was recorded as $1,066.8 million of goodwill. Cheney Brothers Acquisition On October 8, 2024, PFG acquired Cheney Bros., Inc. (“Cheney Brothers”) for $2.0 billion, consisting of $1,977.1 million of cash consideration, net of cash received, and $32.4 million of deferred consideration payable to the seller over the next five years. As of June 28, 2025, the deferred consideration payable to the seller was $29.4 million. The cash consideration portion of the purchase price was financed with borrowings under the Company’s asset-based revolving credit facility. The net sales and net loss related to Cheney Brothers recorded in the Company’s consolidated statements of operations for the fiscal year ended June 28, 2025, since the acquisition date of October 8, 2024 are $2.7 billion and $11.2 million, respectively. The net loss related to Cheney Brothers since the acquisition date was driven by depreciation and amortization of purchase accounting adjustments. The following table summarizes the unaudited pro-forma consolidated financial information of the Company as if the acquisition had occurred on July 2, 2023.
These pro-forma results include nonrecurring pro-forma adjustments related to acquisition costs incurred, including the amortization of the step up in fair value of inventory acquired. The pro-forma net income for the fiscal year ended June 29, 2024 includes $75.6 million, after-tax, of acquisition costs assuming the acquisition had occurred on July 2, 2023. The recurring pro-forma adjustments include estimates of interest expense for the debt issued to finance the acquisition and estimates of depreciation and amortization associated with fair value adjustments for property, plant and equipment and intangible assets acquired. These unaudited pro-forma results do not necessarily represent financial results that would have been achieved had the acquisition actually occurred on July 2, 2023 or future consolidated results of operations of the Company. |
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Goodwill and Other Intangible Assets |
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| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and Other Intangible Assets | 5. Goodwill and Other Intangible Assets The Company recorded additions to goodwill in connection with its acquisitions. The goodwill is a result of expected synergies from combined operations of the acquisitions and the Company. The following table presents the changes in the carrying amount of goodwill:
(1) The fiscal 2024 and 2025 adjustments relate to prior year acquisitions and are the result of net working capital adjustments and deferred tax adjustments. The following table presents the Company’s intangible assets by major category as of June 28, 2025 and June 29, 2024:
For the intangible assets with definite lives, the Company recorded amortization expense of $269.1 million for fiscal 2025, $206.3 million for fiscal 2024, and $185.7 million for fiscal 2023. For the next five fiscal periods and thereafter, the estimated future amortization expense on intangible assets with definite lives are as follows:
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Concentration of Sales and Credit Risk |
12 Months Ended |
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Jun. 28, 2025 | |
| Risks and Uncertainties [Abstract] | |
| Concentration of Sales and Credit Risk | 6. Concentration of Sales and Credit Risk The Company had no customers that comprised more than 10% of consolidated net sales for fiscal 2025, fiscal 2024, or fiscal 2023. At June 28, 2025 and June 29, 2024, the Company had no customers that comprised more than 10% of consolidated accounts receivable. The Company maintains an allowance for doubtful accounts for which details are disclosed in the accounts receivable portion of Note 2. Summary of Significant Accounting Policies and Estimates—Accounts Receivable. Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of trade accounts receivable. The Company’s customer base includes a large number of individual restaurants, national and regional chain restaurants, vending distributors, theaters, retailers, and national, regional, and independent convenience stores. The credit risk associated with accounts receivable is minimized by the Company’s large and diverse customer base and ongoing monitoring of customer creditworthiness. |
Property, Plant, and Equipment |
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| Property, Plant and Equipment [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Property, Plant, and Equipment | 7. Property, Plant, and Equipment Property, plant, and equipment as of June 28, 2025 and June 29, 2024 consisted of the following:
(1) Leasehold improvements are depreciated over the shorter of the useful life of the asset or the lease term. Total depreciation expense for fiscal 2025, fiscal 2024, and fiscal 2023 was $455.3 million, $355.2 million, and $315.7 million, respectively, and is included in operating expenses on the consolidated statement of operations. |
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Debt |
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| Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt | 8. Debt The Company is a holding company and conducts its operations through its subsidiaries, which have incurred or guaranteed indebtedness as described below. Debt consisted of the following:
Credit Agreement PFGC, Inc. (“PFGC”), a wholly-owned subsidiary of the Company, and Performance Food Group, Inc., a wholly-owned subsidiary of PFGC, were parties to the Fifth Amended and Restated Credit Agreement dated September 17, 2021, as amended by the First Amendment to the Fifth Amended and Restated Credit Agreement, dated April 17, 2023 (as amended, the "Prior Credit Agreement”). The Prior Credit Agreement had an aggregate principal amount available of $4.0 billion and was scheduled to mature on September 17, 2026. On September 9, 2024, PFGC and Performance Food Group, Inc. entered into the Sixth Amended and Restated Credit Agreement (the "ABL Facility"), with Wells Fargo Bank, National Association, as Administration Agent and Collateral Agent, and the other lenders party thereto, which amends and restates the Prior Credit Agreement. The ABL Facility, among other things, (i) increases the total revolving commitments from $4.0 billion under the Prior Credit Agreement to $5.0 billion under the ABL Facility and (ii) extends the stated maturity date from September 17, 2026, under the Prior Credit Agreement to September 9, 2029, under the ABL Facility. The ABL Facility also provides for up to $1.0 billion of uncommitted incremental facilities. Performance Food Group, Inc. is the lead borrower under the ABL Facility, which is jointly and severally guaranteed by, and secured by the majority of the assets of, PFGC and all material domestic direct and indirect wholly-owned subsidiaries of PFGC (other than the captive insurance subsidiary and other excluded subsidiaries). Availability for loans and letters of credit under the ABL Facility is governed by a borrowing base, determined by the application of specified advance rates against eligible assets, including trade accounts receivable, inventory, owned real property, and owned transportation equipment. The borrowing base is reduced quarterly by a cumulative fraction of the real property and transportation equipment values. Advances on accounts receivable and inventory are subject to change based on periodic commercial finance examinations and appraisals, and the real property and transportation equipment values included in the borrowing base are subject to change based on periodic appraisals. Audits and appraisals are conducted at the direction of the administrative agent for the benefit and on behalf of all lenders. Borrowings under the ABL Facility bear interest, at Performance Food Group, Inc.’s option, at (a) the Base Rate (defined as the greatest of (i) a floor rate of 0.00%, (ii) the federal funds rate in effect on such date plus 0.5%, (iii) the prime rate on such day, or (iv) one month Term SOFR plus 1.0%) plus a spread or (b) Adjusted Term SOFR plus a spread. The ABL Facility also provides for an unused commitment fee at a rate of 0.250% per annum. The following table summarizes outstanding borrowings, availability, and the average interest rate under the Prior Credit Agreement and the ABL Facility, as applicable:
The ABL Facility contains covenants requiring the maintenance of a minimum consolidated fixed charge coverage ratio if Alternate Availability (as defined in the ABL Facility) falls below the greater of (i) $375.0 million and (ii) 10% of the lesser of the borrowing base and the sum of (a) the aggregate commitments plus (b) any outstanding term loans for five consecutive business days. The ABL Facility also contains customary restrictive covenants that include, but are not limited to, restrictions on the loan parties' and their subsidiaries' abilities to incur additional indebtedness, pay dividends, create liens, make investments, make prepayments, redemptions, or defeasances prior to the maturity of certain restricted debt and dispose of assets. The ABL Facility provides for customary events of default, including payment defaults and cross-defaults on other material indebtedness. If an event of default occurs and is continuing, amounts due under the ABL Facility may be accelerated and the rights and remedies of the lenders may be exercised, including rights with respect to the collateral securing the obligations under such agreement. Senior Notes due 2025 On April 24, 2020, Performance Food Group, Inc. issued and sold $275.0 million aggregate principal amount of its 6.875% Senior Notes due 2025 (the "Notes due 2025"). On April 19, 2024, Performance Food Group, Inc. elected to exercise its right to redeem all of its outstanding Notes due 2025. Performance Food Group, Inc. redeemed the Notes due 2025 on May 1, 2024 (the "Redemption Date") at a redemption price equal to 100% of the aggregate principal amount of the Notes due 2025, plus accrued and unpaid interest thereon to, but not including, the Redemption Date, in accordance with the terms and conditions set forth in the indenture governing the Notes due 2025. Senior Notes due 2027 On September 27, 2019, PFG Escrow Corporation (which subsequently merged with and into Performance Food Group, Inc.), issued and sold $1,060.0 million aggregate principal amount of its 5.500% Senior Notes due 2027 (the “Notes due 2027”). The Notes due 2027 are jointly and severally guaranteed on a senior unsecured basis by PFGC and all domestic direct and indirect wholly-owned subsidiaries of PFGC (other than captive insurance subsidiaries and other excluded subsidiaries). The Notes due 2027 are not guaranteed by the Company. The proceeds from the Notes due 2027, along with an offering of shares of the Company’s common stock and borrowings under a prior credit agreement, were used to fund the cash consideration for the acquisition of Reinhart Foodservice, L.L.C. and to pay related fees and expenses. The Notes due 2027 were issued at 100.0% of their par value. The Notes due 2027 mature on October 15, 2027 and bear interest at a rate of 5.500% per year, payable semi-annually in arrears. 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 due 2027 will have the right to require Performance Food Group, Inc. to repurchase each holder’s Notes due 2027 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. Performance Food Group, Inc. may redeem all or part of the Notes due 2027 at a redemption price equal to 100.0% of the principal amount redeemed, plus accrued and unpaid interest. The indenture governing the Notes due 2027 contains covenants limiting, among other things, PFGC’s and its restricted subsidiaries’ ability to incur or guarantee additional debt or issue disqualified stock or preferred stock; pay dividends and make other distributions on, or redeem or repurchase, capital stock; make certain investments; incur certain liens; enter into transactions with affiliates; consolidate, merge, sell or otherwise dispose of all or substantially all of its assets; create certain restrictions on the ability of PFGC’s restricted subsidiaries to make dividends or other payments to PFGC; designate restricted subsidiaries as unrestricted subsidiaries; and transfer or sell certain assets. These covenants are subject to a number of important exceptions and qualifications. The Notes due 2027 also contain customary events of default, the occurrence of which could result in the principal of and accrued interest on the Notes due 2027 to become or be declared due and payable. Senior Notes due 2029 On July 26, 2021, Performance Food Group, Inc. issued and sold $1.0 billion aggregate principal amount of its 4.250% Senior Notes due 2029 (the "Notes due 2029"). The Notes due 2029 are jointly and severally guaranteed on a senior unsecured basis by PFGC and all domestic direct and indirect wholly-owned subsidiaries of PFGC (other than captive insurance subsidiaries and other excluded subsidiaries). The Notes due 2029 are not guaranteed by the Company. The proceeds from the Notes due 2029 were used to pay down the outstanding balance of a prior credit agreement, to redeem the 5.500% Senior Notes due 2024, and to pay the fees, expenses, and other transaction costs incurred in connection with the Notes due 2029. The Notes due 2029 were issued at 100.0% of their par value. The Notes due 2029 mature on August 1, 2029, and bear interest at a rate of 4.250% per year, payable semi-annually in arrears. 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 due 2029 will have the right to require Performance Food Group, Inc. to repurchase each holder’s Notes due 2029 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. Performance Food Group, Inc. may redeem all or part of the Notes due 2029 at a redemption price equal to 102.125% of the principal amount redeemed, plus accrued and unpaid interest. The redemption price decreases to 101.163% and 100% of the principal amount redeemed on August 1, 2025, and August 1, 2026, respectively. The indenture governing the Notes due 2029 contains covenants limiting, among other things, PFGC’s and its restricted subsidiaries’ ability to incur or guarantee additional debt or issue disqualified stock or preferred stock; pay dividends and make other distributions on, or redeem or repurchase, capital stock; make certain investments; incur certain liens; enter into transactions with affiliates; consolidate, merge, sell or otherwise dispose of all or substantially all of its assets; create certain restrictions on the ability of PFGC’s restricted subsidiaries to make dividends or other payments to PFGC; designate restricted subsidiaries as unrestricted subsidiaries; and transfer or sell certain assets. These covenants are subject to a number of important exceptions and qualifications. The Notes due 2029 also contain customary events of default, the occurrence of which could result in the principal of and accrued interest on the Notes due 2029 to become or be declared due and payable. Senior Notes due 2032 On September 12, 2024, Performance Food Group, Inc. issued and sold $1.0 billion aggregate principal amount of its 6.125% Senior Notes due 2032 (the “Notes due 2032”). The Notes due 2032 are jointly and severally guaranteed on a senior unsecured basis by PFGC and all domestic direct and indirect wholly-owned subsidiaries of PFGC (other than captive insurance subsidiaries and other excluded subsidiaries). The Notes due 2032 are not guaranteed by the Company. The Company intended to use the proceeds from the Notes due 2032, together with borrowings under the ABL Facility, to finance the cash consideration in connection with the Cheney Brothers Acquisition and to pay the fees, expenses, and other transaction costs incurred in connection with the Notes due 2032. However, since there was no requirement to hold the funds in escrow until the Cheney Brothers Acquisition closed, the net proceeds for the Notes due 2032 were initially used to pay down a portion of the outstanding balance of the ABL Facility. The Company subsequently funded the cash consideration for the Cheney Brothers Acquisition with borrowings under the ABL Facility. The Notes due 2032 were issued at 100.0% of their par value. The Notes due 2032 mature on September 15, 2032, and bear interest at a rate of 6.125% per year, payable semi-annually in arrears. 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 due 2032 will have the right to require Performance Food Group, Inc. to repurchase each holder’s Notes due 2032 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. Performance Food Group, Inc. may redeem all or a part of the Notes due 2032 at any time prior to September 15, 2027, at a redemption price equal to 100% of the principal amount of the Notes due 2032 being redeemed plus a make-whole premium as defined in the indenture governing the Notes due 2032 and accrued and unpaid interest. In addition, beginning on September 15, 2027, Performance Food Group, Inc. may redeem all or a part of the Notes due 2032 at a redemption price equal to 103.063% of the principal amount redeemed, plus accrued and unpaid interest. The redemption price decreases to 101.531% and 100% of the principal amount redeemed on September 15, 2028, and September 15, 2029, respectively. In addition, at any time prior to September 15, 2027, Performance Food Group, Inc. may redeem up to 40% of the Notes due 2032 from the proceeds of certain equity offerings at a redemption price equal to 106.125% of the principal amount thereof, plus accrued and unpaid interest. The indenture governing the Notes due 2032 contains covenants limiting, among other things, PFGC’s and its restricted subsidiaries’ ability to incur or guarantee additional debt or issue disqualified stock or preferred stock; pay dividends and make other distributions on, or redeem or repurchase, capital stock; make certain investments; incur certain liens; enter into transactions with affiliates; consolidate, merge, sell or otherwise dispose of all or substantially all of its assets; create certain restrictions on the ability of PFGC’s restricted subsidiaries to make dividends or other payments to PFGC; designate restricted subsidiaries as unrestricted subsidiaries; and transfer or sell certain assets. These covenants are subject to a number of important exceptions and qualifications. The Notes due 2032 also contain customary events of default, the occurrence of which could result in the principal of and accrued interest on the Notes due 2032 to become or be declared due and payable. The ABL Facility and the indentures governing the Notes due 2027, the Notes due 2029, and the Notes due 2032 contain customary restrictive covenants under which all of the net assets of PFGC and its subsidiaries were restricted from distribution to Performance Food Group Company, except for approximately $1,745.0 million of restricted payment capacity available under such debt agreements, as of June 28, 2025. Such minimum estimated restricted payment capacity is calculated based on the most restrictive of our debt agreements and may fluctuate from period to period, which fluctuations may be material. Our restricted payment capacity under other debt instruments to which the Company is subject may be materially higher than the foregoing estimate. Fiscal year maturities of long-term debt, excluding finance lease obligations, are as follows:
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Derivatives and Hedging Activities |
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| Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Derivatives and Hedging Activities | 9. Derivatives and Hedging Activities Risk Management Objective of Using Derivatives The Company is exposed to certain risks arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Company manages economic risks, including interest rate, liquidity, and credit risk primarily by managing the amount, sources, and duration of its debt funding and the use of derivative financial instruments. Specifically, the Company enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates and diesel fuel costs. The Company’s derivative financial instruments are used to manage differences in the amount, timing, and duration of the Company’s known or expected cash receipts and payments related to the Company’s borrowings and diesel fuel purchases. The entire change in the fair value of derivatives that are both designated and qualify as cash flow hedges is recorded in other comprehensive income and subsequently reclassified into earnings in the period that the hedged transaction occurs. Hedges of Interest Rate Risk The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. Since the Company has a substantial portion of its debt in variable-rate instruments, it accomplishes this objective with interest rate swaps. These swaps are designated as cash flow hedges and involve the receipt of variable-rate amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. All of the Company’s interest rate swaps are designated and qualify as cash flow hedges. As of June 28, 2025, Performance Food Group, Inc. had two interest rate swaps with a combined $150.0 million notional amount. The following table summarizes the outstanding swap agreements as of June 28, 2025 (in millions):
The table below presents the effect of the interest rate swaps designated in hedging relationships on the consolidated statements of operations for the fiscal years ended June 28, 2025, June 29, 2024, and July 1, 2023:
As hedged interest payments are made on the Company’s debt, amounts are reclassified from accumulated other comprehensive income (loss) to interest expense. During the next twelve months, the Company estimates that gains of approximately $0.8 million will be reclassified to interest expense. Hedges of Forecasted Diesel Fuel Purchases From time to time, the Company enters into costless collar or swap arrangements to manage its exposure to variability in cash flows expected to be paid for its forecasted purchases of diesel fuel. As of June 28, 2025, Performance Food Group, Inc. was a party to six such arrangements, with an aggregate 22.7 million-gallon original notional amount of which an aggregate 11.4 million gallon notional was remaining. The remaining 11.4 million gallon forecasted purchases of diesel fuel are expected to be made between June 29, 2025 and December 31, 2025. The fuel collar and swap instruments do not qualify for hedge accounting. Accordingly, the derivative instruments are recorded as an asset or liability on the balance sheet at fair value and any changes in fair value are recorded in the period of change as unrealized gains or losses on fuel hedging instruments and included in other, net on the consolidated statement of operations. For the fiscal years ended June 28, 2025, June 29, 2024, and July 1, 2023 the Company recognized a gain of $0.5 million, a gain of $3.7 million, and a loss of $18.3 million, respectively, related to changes in the fair value of fuel collar and swap instruments along with $0.7 million of expense, $1.9 million of expense, and $12.6 million of income, respectively, related to cash settlements. The Company does not currently have a payable or receivable related to cash collateral for its derivatives, and therefore it has not established an accounting policy for offsetting the fair value of its derivatives against such balances. The table below presents the fair value of the derivative financial instruments as well as their classification on the balance sheet as of June 28, 2025 and June 29, 2024:
All of the Company’s derivative contracts are subject to a master netting arrangement with the respective counterparties that provide for the net settlement of all derivative contracts in the event of default or upon the occurrence of certain termination events. Upon exercise of termination rights by the non-defaulting party (i) all transactions are terminated, (ii) all transactions are valued and the positive value or “in the money” transactions are netted against the negative value or “out of the money” transactions, and (iii) the only remaining payment obligation is of one of the parties to pay the netted termination amount. The Company has elected to present the derivative assets and derivative liabilities on the balance sheet on a gross basis for periods ended June 28, 2025 and June 29, 2024. The tables below present the derivative assets and liability balance, before and after the effects of offsetting, as of June 28, 2025 and June 29, 2024:
The derivative instruments are the only assets or liabilities that are recorded at fair value on a recurring basis. The fuel collars represent Level 2 on the fair value hierarchy because they are not actively traded and are valued using pricing models that utilize observable market inputs including commodity prices. The fair values of the Company’s interest rate swap agreements are determined using a valuation model with several inputs and assumptions, some of which may be unobservable. A specific unobservable input used by the Company in determining the fair value of its interest rate swaps is an estimation of both the unsecured borrowing spread to SOFR for the Company as well as that of the derivative counterparties. Based on the lack of significance of this estimated spread component to the overall value of the Company’s interest rate swaps, the Company has concluded that these swaps represent Level 2 on the hierarchy. Credit-Risk-Related Contingent Features The Company has agreements with each of its derivative counterparties that provide that if the Company either defaults or is capable of being declared in default on any of its indebtedness, the Company can also be declared in default on its derivative obligations. |
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Insurance Program Liabilities |
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| Insurance [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Insurance Program Liabilities | 10. Insurance Program Liabilities The Company maintains high-deductible insurance programs covering portions of general and vehicle liability, workers’ compensation, and group medical insurance. The amounts in excess of self-insured levels are fully insured by third-party insurance carriers, subject to certain limitations. A summary of the activity in all types of deductible liabilities appears below:
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Fair Value of Financial Instruments |
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Jun. 28, 2025 | |
| Fair Value Disclosures [Abstract] | |
| Fair Value of Financial Instruments | 11. Fair Value of Financial Instruments The carrying values of cash, accounts receivable, outstanding checks in excess of deposits, trade accounts payable, and accrued expenses approximate their fair values because of the relatively short maturities of those instruments. The derivative assets and liabilities are recorded at fair value on the balance sheet. The fair value of long-term debt, which has a carrying value of $5,388.8 million and $3,198.5 million, is $5,399.7 million and $3,104.5 million at June 28, 2025 and June 29, 2024, respectively, and is determined by reviewing current market pricing related to comparable debt issued at the time of the balance sheet date, and is considered a Level 2 measurement. |
Leases |
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| Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Leases | 12. Leases The Company determines if an arrangement is a lease at inception and recognizes a financing or operating lease liability and right-of-use asset in the Company’s consolidated balance sheet. Right-of-use assets and lease liabilities for both operating and finance leases are recognized based on the present value of lease payments over the lease term at commencement date. When the Company’s leases do not provide an implicit rate, the Company uses the incremental borrowing rate based on the information available at commencement date to determine the present value of lease payments. This rate is determined by using the yield curve based on the Company’s credit rating adjusted for the Company’s specific debt profile and secured debt risk. Leases with an initial term of 12 months or less are not recorded on the balance sheet. The lease expenses for these short-term leases are recognized on a straight-line basis over the lease term. The Company has several lease agreements that contain lease and non-lease components, such as maintenance, taxes, and insurance, which are accounted for separately. The difference between the operating lease right-of-use assets and operating lease liabilities primarily relates to adjustments for deferred rent, favorable leases, and prepaid rent. Subsidiaries of the Company have entered into numerous operating and finance leases for various warehouses, office facilities, equipment, tractors, and trailers. Our leases have remaining lease terms of 1 year to 25 years, some of which include options to extend the leases for up to 10 years, and some of which include options to terminate the leases within 1 year. Certain full-service fleet lease agreements include variable lease payments associated with usage, which are recorded and paid as incurred. When calculating lease liabilities, lease terms will include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Certain of the leases for tractors, trailers, and other vehicles and equipment provide for residual value guarantees to the lessors. Circumstances that would require the subsidiary to perform under the guarantees include either (1) default on the leases with the leased assets being sold for less than the specified residual values in the lease agreements, or (2) decisions not to purchase the assets at the end of the lease terms combined with the sale of the assets, with sales proceeds less than the residual value of the leased assets specified in the lease agreements. Residual value guarantees under these operating lease agreements typically range between 6% and 20% of the value of the leased assets at inception of the lease. These leases have original terms ranging from 5 to 10 years and are set to expire at various dates ranging from 2025 to 2032. As of June 28, 2025, the undiscounted maximum amount of potential future payments for lease residual value guarantees totaled approximately $7.5 million, which would be mitigated by the fair value of the leased assets at lease expiration. The following table presents the location of the right-of-use assets and lease liabilities in the Company’s consolidated balance sheet as of June 28, 2025 and June 29, 2024 (in millions), as well as the weighted-average lease term and discount rate for the Company’s leases:
The following table presents the location of lease costs in the Company consolidated statement of operations for the periods reported (in millions):
Supplemental cash flow information related to leases for the periods reported is as follows:
Future minimum lease payments under non-cancelable leases as of June 28, 2025, are as follows (in millions):
As of June 28, 2025, the Company had additional operating and finance leases that had not yet commenced which total $46.6 million in future minimum lease payments. These leases relate primarily to a warehouse lease which will commence upon building completion with a term of 10 years. In addition, these leases include vehicle leases expected to commence in fiscal 2026 with lease terms of 6 to 10 years. |
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Income Taxes |
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| Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income Taxes | 13. Income Taxes The determination of the Company’s overall effective tax rate requires significant judgment, the use of estimates, and the interpretation and application of complex tax laws. The effective tax rate reflects the income earned and taxed in various federal, state, and foreign jurisdictions. Tax law changes, increases and decreases in temporary and permanent differences between book and tax items, tax credits, and the Company’s change in income in each jurisdiction all affect the overall effective tax rate. It is the Company’s practice to recognize interest and penalties related to uncertain tax positions in income tax expense. Income tax expense for fiscal 2025, fiscal 2024 and fiscal 2023 consisted of the following:
The Company’s effective income tax rate for continuing operations for fiscal 2025, fiscal 2024 and fiscal 2023 was 25.8%, 27.0%, and 27.0%, respectively. Actual income tax expense differs from the amount computed by applying the applicable U.S. federal statutory corporate income tax rate of 21% in fiscal 2025, fiscal 2024, and fiscal 2023 to earnings before income taxes as follows:
Deferred income taxes are recorded based upon the tax effects of differences between the financial statement and tax bases of assets and liabilities and available tax loss and credit carryforwards. Temporary differences and carry-forwards that created significant deferred tax assets and liabilities were as follows:
As of June 28, 2025, substantially all federal, state and local, and foreign income tax matters have been concluded for years prior to fiscal year 2021. We intend to indefinitely reinvest income of our foreign operations and, as a result, no material accruals have been made with respect to the tax effects of unremitted earnings from these reinvested foreign earnings, including impacts of outside basis differences and withholding taxes. Since the Organization for Economic Co-operation and Development ("OECD") announced the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting ("Framework") in 2021, a number of countries have begun to enact legislation to implement the OECD international tax framework, including the Pillar Two minimum tax regime. To mitigate the administrative burden for Multinational Enterprises in complying with the OECD Global Anti-Base Erosion rules during the initial years of implementation, the OECD developed the temporary “Transitional Country-by-Country Safe Harbor” ("Safe Harbor"). This transitional Safe Harbor applies for fiscal years beginning on or before December 31, 2026, but not including a fiscal year that ends after June 30, 2028. Under the Safe Harbor, the top-up tax for such jurisdiction is deemed to be zero, provided that at least one of the Safe Harbor tests is met for the jurisdiction. Of the regions in which we operate, Canada has implemented Pillar Two framework effective January 1, 2024. The Company is not subject to Pillar Two minimum tax in fiscal 2025 under the Safe Harbor rules. On July 4, 2025, the President of the United States signed into law the One Big Beautiful Bill Act (the “Act”). The Act includes changes to U.S. tax law that will be applicable to the Company in fiscal 2026. The Act makes permanent key provisions of the Tax Cuts and Jobs Act, including bonus depreciation, expensing of domestic research costs and limitation of business interest expense. ASC 740, “Income Taxes,” requires the effects of changes in tax rates and laws on deferred tax balances to be recognized in the period in which the legislation is enacted. The Company is still evaluating the impact of the Act, and the results of such evaluations will be reflected in the Company’s form 10-Q for the period ending September 27, 2025. |
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Retirement Plans |
12 Months Ended |
|---|---|
Jun. 28, 2025 | |
| Postemployment Benefits [Abstract] | |
| Retirement Plans | 14. Retirement Plans Employee Savings Plans The Company sponsors the Performance Food Group Employee Savings Plan (the “401(k) Plan”). Eligible U.S. and Canadian employees participating in the 401(k) Plan may elect to contribute between 1% and 50% of their qualified compensation, up to a maximum dollar amount as specified by the provisions of the Internal Revenue Code in the U.S. or Income Tax Act in Canada, as applicable. The Company matched 100% of the first 3.5% of the employee contributions, resulting in matching contributions of $58.1 million for fiscal 2025, $52.7 million for fiscal 2024, and $52.0 million for fiscal 2023. |
Commitments and Contingencies |
12 Months Ended |
|---|---|
Jun. 28, 2025 | |
| Commitments and Contingencies Disclosure [Abstract] | |
| Commitments and Contingencies | 15. Commitments and Contingencies Purchase Obligations The Company had outstanding contracts and purchase orders of $276.8 million related to capital projects and services including purchases of compressed natural gas for its trucking fleet at June 28, 2025. Amounts due under these contracts were not included on the Company’s consolidated balance sheet as of June 28, 2025. Guarantees The Company from time to time enters into certain types of contracts that contingently require it to indemnify various parties against claims from third parties. These contracts primarily relate to: (i) certain real estate leases under which subsidiaries of the Company may be required to indemnify property owners for environmental and other liabilities and other claims arising from their use of the applicable premises; (ii) certain agreements with the Company’s officers, directors, and employees under which the Company may be required to indemnify such persons for liabilities arising out of their employment relationship; and (iii) customer agreements under which the Company may be required to indemnify customers for certain claims brought against them with respect to the supplied products. Generally, a maximum obligation under these contracts is not explicitly stated. Because the obligated amounts associated with these types of agreements are not explicitly stated, the overall maximum amount of the obligation cannot be reasonably estimated. Historically, the Company has not been required to make payments under these obligations and, therefore, no liabilities have been recorded for these obligations in the Company’s consolidated balance sheets. Litigation The Company is engaged in various legal proceedings that have arisen but have not been fully adjudicated. The likelihood of loss arising from these legal proceedings, based on definitions within contingency accounting literature, ranges from remote to reasonably possible to probable. When losses are probable and reasonably estimable, they have been accrued. Based on estimates of the range of potential losses associated with these matters, management does not believe that the ultimate resolution of these proceedings, either individually or in the aggregate, will have a material adverse effect upon the consolidated financial position or results of operations of the Company. However, the final results of legal proceedings cannot be predicted with certainty and, if the Company failed to prevail in one or more of these legal matters, and the associated realized losses were to exceed the Company’s current estimates of the range of potential losses, the Company’s consolidated financial position or results of operations could be materially adversely affected in future periods. JUUL Labs, Inc. Marketing Sales Practices, and Products Liability Litigation. In October 2019, a Multidistrict Litigation action (“MDL”) was initiated in order to centralize litigation against JUUL Labs, Inc. (“JUUL”) and other parties in connection with JUUL’s e-cigarettes and related devices and components in the United States District Court for the Northern District of California. On March 11, 2020, counsel for plaintiffs and the Plaintiffs’ Steering Committee filed a Master Complaint in the MDL ("Master Complaint") naming, among several other entities and individuals including JUUL, Altria Group, Inc., Philip Morris USA, Inc., Altria Client Services LLC, Altria Group Distribution Company, Altria Enterprises LLC, certain members of management and/or individual investors in JUUL, various e-liquid manufacturers, and various retailers, including the Company’s subsidiaries Eby-Brown Company LLC (“Eby-Brown”) and Core-Mark Holding Company, Inc. (“Core-Mark”), as defendants. The Master Complaint also named additional distributors of JUUL products (collectively with Eby-Brown and Core-Mark, the “Distributor Defendants”). The Master Complaint contains various state law claims and alleges that the Distributor Defendants: (i) failed to disclose JUUL’s nicotine contents or the risks associated; (ii) pushed a product designed for a youth market; (iii) engaged with JUUL in planning and marketing its product in a manner designed to maximize the flow of JUUL products; (iv) met with JUUL management in San Francisco, California to further these business dealings; and (v) received incentives and business development funds for marketing and efficient sales. JUUL and Eby-Brown are parties to a Domestic Wholesale Distribution Agreement dated March 10, 2020 (the "Distribution Agreement"), and JUUL has agreed to defend and indemnify Eby-Brown under the terms of that agreement and is paying Eby-Brown’s outside counsel fees directly. In addition, Core-Mark and JUUL have entered into a Defense and Indemnity Agreement dated March 8, 2021 (the "Defense Agreement") pursuant to which JUUL has agreed to defend and indemnify Core-Mark, and JUUL is paying Core-Mark’s outside counsel fees directly. On December 6, 2022, JUUL announced that it had reached settlements with the plaintiffs in the MDL and related cases that had been consolidated in the U.S. District Court for Northern District of California (the “MDL Settlement”). Per the settlement agreement, the MDL Settlement encompasses the various personal injury, consumer class action, government entity, and Native American tribe claims made against JUUL and includes, among others, all of the Distributor Defendants (including Core-Mark and Eby-Brown) as released parties. The release applicable to the Distributor Defendants, as well as certain other defendants, took effect when JUUL made the first settlement payment on October 27, 2023. The MDL Settlement Master informed the parties that there are ten plaintiffs who opted out of the MDL Settlement; however, those opt-out plaintiffs have amended their individual complaints and have removed Eby-Brown and Core-Mark as defendants in their individual cases. On September 10, 2021, Michael Lumpkins filed a parallel lawsuit in Illinois state court against several entities, including JUUL, e-liquid manufacturers, various retailers, and various distributors, including Eby-Brown and Core-Mark, alleging similar claims to the claims at issue in the MDL (the “Illinois Litigation”). Because there is no federal jurisdiction for this case, it will proceed in Illinois state court. Plaintiff alleges as damages that his use of JUUL products caused a brain injury that was later exacerbated by medical negligence. The court denied Eby-Brown and Core-Mark’s motion to dismiss, and the case has moved into the discovery phase. The trial date has been set for October 6, 2025. The defense and indemnity of Eby-Brown and Core-Mark for the Illinois Litigation is covered by the Distribution Agreement and the Defense Agreement, respectively. The Company will continue to vigorously defend itself. On June 23, 2022, the U.S. Food and Drug Administration (“FDA”) announced it had issued marketing denial orders (“MDOs”) to JUUL for all of its products currently marketed and sold in the U.S. According to the FDA, the MDOs banned the distribution and sale of all JUUL products domestically. That same day, JUUL filed a petition for review of the MDOs with the United States Court of Appeals for the D.C. Circuit. On June 24, 2022, the court of appeals stayed the MDOs and issued a briefing schedule in the case. Thereafter, JUUL informed the FDA that per applicable regulations it would submit a request for supervisory review of the MDOs to the FDA. In response, the FDA notified JUUL that upon further review of the briefing JUUL made to the court of appeals, the FDA determined there are scientific issues unique to JUUL’s Pre-Market Tobacco Application (“PMTA”) that warrant additional review. Accordingly, the FDA entered an administrative stay of the MDOs. On July 17, 2025, the FDA announced that it was authorizing the marketing and sale of certain JUUL products. At this time, the Company is unable to predict whether the FDA will approve JUUL’s PMTA or re-issue the MDOs, nor is the Company able to estimate any potential loss or range of loss in the event of an adverse finding against JUUL in any case that falls outside of the MDL Settlement. Tax Liabilities The Company is subject to customary audits by authorities in the jurisdictions where it conducts business in the United States and foreign countries, which may result in assessments of additional taxes. These additional taxes are accrued when probable and reasonably estimable. |
Related-Party Transactions |
12 Months Ended |
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Jun. 28, 2025 | |
| Related Party Transactions [Abstract] | |
| Related-Party Transactions | 16. Related-Party Transactions The Company participates in, and has an equity method investment in, a purchasing alliance that was formed to obtain better pricing, to expand product options, to reduce internal costs, and to achieve greater inventory turnover. The Company’s investment in the purchasing alliance was $13.3 million as of June 28, 2025, and $11.8 million as of June 29, 2024. For fiscal 2025, fiscal 2024, and fiscal 2023, the Company recorded purchases of $2,539.9 million, $2,193.7 million, and $2,006.2 million, respectively, through the purchasing alliance. |
Earnings Per Common Share |
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| Earnings Per Common Share | 17. Earnings Per Common Share Basic earnings per common share is computed by dividing net income available to common shareholders by the weighted-average number of common shares outstanding during the period. Diluted earnings per common share is calculated using the weighted-average number of common shares and dilutive potential common shares outstanding during the period. The Company’s potential common shares include outstanding stock-based compensation awards and expected issuable shares under the employee stock purchase plan. In computing diluted earnings per common share, the average closing stock price for the period is used in determining the number of shares assumed to be purchased with the assumed proceeds under the treasury stock method. Potential common shares of 0.1 million for both the fiscal years ended June 28, 2025 and June 29, 2024 were not included in computing diluted earnings per common share because the effect would have been antidilutive. No potential common shares were considered antidilutive for the fiscal year ended July 1, 2023. A reconciliation of the numerators and denominators for the basic and diluted earnings per common share computations is as follows:
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Stock-based Compensation |
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| Share-Based Payment Arrangement [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Stock-based Compensation | 18. Stock-based Compensation The Company provides compensation benefits to employees and non-employee directors under share-based payment arrangements. These arrangements are designed to promote the long-term growth and profitability of the Company by providing employees and non-employee directors who are or will be involved in the Company’s growth with an opportunity to acquire an ownership interest in the Company, thereby encouraging them to contribute to and participate in the success of the Company. The Company also provides an employee stock purchase plan (“ESPP”) which allows eligible employees the opportunity to acquire shares of common stock, at a 15% discount on the fair market value as of the date of purchase through periodic payroll deductions. The ESPP is considered compensatory for federal income tax purposes. Under the ESPP, there are 5,000,000 shares of common stock authorized and reserved and, as of June 28, 2025, there are 2,676,201 shares available for purchase. The Company recorded $7.3 million, $4.5 million, and $4.2 million of stock-based compensation expense for fiscal 2025, fiscal 2024, and fiscal 2023, respectively, attributable to the ESPP. The Performance Food Group Company 2007 Management Option Plan The 2007 Option Plan allowed for the granting of awards to employees, officers, directors, consultants, and advisors of the Company or its affiliates in the form of nonqualified options. The terms and conditions of awards granted under the 2007 Option Plan were determined by the Board of Directors. The contractual term of the options is ten years. The Company no longer grants awards from this plan. Each of the employee awards under the 2007 Option Plan were divided into three equal portions. Tranche I options were subject to time vesting, and Tranche II and Tranche III options were subject to both time and performance vesting based on performance criteria outlined in the 2007 Option Plan. The following table summarizes the stock option activity for fiscal 2025 under the 2007 Option Plan.
The intrinsic value of exercised options was $23.3 million, $4.3 million, and $3.6 million for fiscal 2025, fiscal 2024, and fiscal 2023, respectively. The Performance Food Group Company 2015 Omnibus Incentive Plan The 2015 Incentive Plan allowed for the granting of awards to current employees, officers, directors, consultants, and advisors of the Company. The terms and conditions of awards granted under the 2015 Option Plan were determined by the Board of Directors. The contractual term of options granted under the 2015 Incentive Plan is ten years. In November 2024, the Company's stockholders approved the 2024 Incentive Plan, and subsequent grants were issued from the 2024 Incentive Plan. The Company no longer grants awards from the 2015 Incentive Plan. Shares of time-based restricted stock granted in fiscal 2025, fiscal 2024 and fiscal 2023 vest ratably over three years from the date of the grant. No stock options were granted from the 2015 Incentive Plan in fiscal 2025, fiscal 2024 or fiscal 2023. Performance-based restricted shares granted vest upon the achievement of a specified Relative Total Shareholder Return (“Relative TSR”), a market condition, at the end of a three-year performance period. Actual shares earned range from 0% to 200% of the initial grant, depending upon performance relative to the Relative TSR goal. Restricted stock units and deferred stock units granted to non-employee directors vest in full on the earlier of the first anniversary of the date of grant or the next regularly scheduled annual meeting of the stockholders of the Company. The fair values of time-based restricted shares, restricted stock units, and deferred stock units were based on the Company’s closing stock price as of the date of grant. The Company, with the assistance of a third-party valuation expert, estimated the fair value of performance-based restricted shares with a Relative TSR market condition granted in fiscal 2025, fiscal 2024 and fiscal 2023 using a Monte Carlo simulation with the following weighted-average assumptions:
The risk-free interest rate is based on a zero-coupon risk-free interest rate derived from the Treasury Constant Maturities yield curve at the time of grant for the expected term. The Company assumed a dividend yield of zero percent when valuing the grants under the 2015 Incentive Plan because the Company does not intend to pay dividends on its common stock. Expected volatility is based on the historical volatility of the Company for the expected term. The expected term represents the period of time from the date of grant to the end of the three-year performance period. The compensation cost that has been charged against income for the Company’s 2015 Incentive Plan was $40.2 million for fiscal 2025, $36.0 million for fiscal 2024, and $34.4 million for fiscal 2023, and it is included within operating expenses in the consolidated statement of operations. The total income tax benefit recognized in the consolidated statements of operations was $11.3 million in fiscal 2025, $9.7 million in fiscal 2024, and $9.3 million in fiscal 2023. Total unrecognized compensation cost for all awards under the 2015 Incentive Plan is $44.8 million as of June 28, 2025. This cost is expected to be recognized over a weighted-average period of 1.7 years. The following table summarizes the stock option activity for fiscal 2025 under the 2015 Incentive Plan.
The intrinsic value of exercised options was $10.4 million, $0.6 million, and $1.8 million for fiscal 2025, fiscal 2024 and fiscal 2023, respectively. The following table summarizes the changes in nonvested restricted shares and restricted stock units for fiscal 2025 under the 2015 Incentive Plan.
The total fair value of shares vested was $56.3 million, $60.2 million, and $32.0 million for fiscal 2025, fiscal 2024, and fiscal 2023, respectively. The Performance Food Group Company 2024 Omnibus Incentive Plan In November 2024, the Company's stockholders approved the 2024 Incentive Plan. The 2024 Incentive Plan allows for the granting of awards to current employees, officers, directors, consultants, and advisors of the Company. The terms and conditions of awards granted under the 2024 Option Plan are determined by the Board of Directors. Under this plan, the aggregate number of common stock that shall be available for awards is 6,926,217 shares, which includes 4,200,000 additional shares authorized under the 2024 Plan and the shares that remained available for future grants under the 2015 Incentive Plan. As of June 28, 2025, there were 6,910,924 shares available for grant under the 2024 Incentive Plan. Shares of time-based restricted stock granted in fiscal 2025 vest ratably over three years from the date of the grant. No stock options or performance-based restricted shares were granted from the 2024 Incentive Plan in fiscal 2025. The compensation cost that has been charged against income for the Company’s 2024 Incentive Plan was $0.2 million for fiscal 2025, and it is included within operating expenses in the consolidated statement of operations. The total income tax benefit recognized in the consolidated statements of operations was less than $0.1 million in fiscal 2025. Total unrecognized compensation cost for all awards under the 2024 Incentive Plan is $1.1 million as of June 28, 2025. This cost is expected to be recognized over a weighted-average period of 2.6 years. The following table summarizes the changes in nonvested restricted shares for fiscal 2025 under the 2024 Incentive Plan.
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Segment Information |
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| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment Information | 19. Segment Information The Company regularly monitors for changes in facts and circumstances that would necessitate changes in its determination of operating segments. In the third quarter of fiscal 2025, the Company updated its operating segments to reflect the manner in which the chief operating decision maker (“CODM”) manages the business. Based on changes to the Company’s organizational structure and how the CODM reviews operating results and makes decisions about resource allocation, certain operations and administrative and corporate costs previously reported in Corporate & All Other are now included in the Foodservice segment. The Company continues to have three reportable segments: Foodservice, Convenience, and Specialty (formerly Vistar). The presentation and amounts as of June 29, 2024 and for the fiscal years ended June 29, 2024 and July 1, 2023 have been recast to reflect these segment changes. The Foodservice segment distributes a broad line of national brands, customer brands, and our proprietary-branded food and food-related products, or “Performance Brands.” Foodservice sells to independent and multi-unit chain restaurants and other institutions such as schools, healthcare facilities, business and industry locations, and retail establishments. Our chain customers are multi-unit restaurants with five or more locations and include some of the most recognizable family and casual dining restaurant chains. Our Convenience segment distributes candy, snacks, beverages, cigarettes, other tobacco products, food and foodservice related products, and other items to convenience stores across North America. Our Specialty segment, previously referred to as Vistar, specializes in distributing candy, snacks, beverages, and other food items nationally to vending, office coffee service, theater, retail, hospitality, and other channels. Corporate & All Other is comprised of corporate overhead and certain operations that are not considered separate reportable segments based on their size. Corporate & All Other may also include capital expenditures for certain information technology projects that are transferred to the segments once placed in service. Intersegment sales represent sales between the segments which are eliminated in consolidation. The Company’s CODM, our , utilizes total sales and Segment Adjusted EBITDA, which is the Company’s GAAP measure of segment profit, to evaluate each operating segment’s financial performance and make decisions about resource allocation. Segment Adjusted EBITDA is defined as net income before interest expense, interest income, income taxes, depreciation, and amortization and excludes certain items that the Company does not consider part of its segments’ core operating results, including stock-based compensation expense, changes in the LIFO reserve, acquisition, integration and reorganization expenses, and gains and losses related to fuel derivatives. The CODM reviews budget-to-actual and year-over-year variances for net sales and Segment Adjusted EBITDA each month when assessing segment performance and making decisions about allocating resources to the segments. The Company adopted ASU 2023-07 Segment Reporting - Improving Reportable Segment Disclosures (Topic 280) for the fiscal year ended June 28, 2025 and applied the provisions on a retrospective basis to all periods presented. Adoption of this standard resulted in additional disclosure of the significant expenses in the respective segments. The Company’s significant segment expenses, Segment Cost of Goods Sold and Segment Operating Expense, are significant to the segment, regularly provided to or easily computed from information regularly provided to our CODM, and included in Segment Adjusted EBITDA. Accordingly, the segment expenses presented below exclude the same items that are excluded from Segment Adjusted EBITDA.
1 Reflects cost of goods sold included in Segment Adjusted EBITDA and excludes certain items that are included in cost of goods sold, such as the change in LIFO reserve, presented in the consolidated statements of operations. Refer to the table below for a reconciliation of Segment Adjusted EBITDA to consolidated income before taxes. 2 Reflects operating expenses included in Segment Adjusted EBITDA and excludes certain items that are included in operating expense, such as depreciation, amortization, and expenses associated with acquisitions, presented in the consolidated statements of operations. Refer to the table below for a reconciliation of Segment Adjusted EBITDA to consolidated income before taxes. 3 Reflects other income and expense, net included in Segment Adjusted EBITDA and excludes certain items that are included in other expense, net presented in the consolidated statements of operations. Refer to the table below for a reconciliation of Segment Adjusted EBITDA to consolidated income before taxes. Segment Adjusted EBITDA for each reportable segment is presented below along with a reconciliation to consolidated income before taxes.
4 Other adjustments include gains and losses on disposal of fixed assets, amounts related to favorable and unfavorable leases, litigation-related accruals, severance, franchise tax expense, insurance proceeds due to hurricane and other weather related events, foreign currency transaction gains and losses, and other adjustments permitted by our ABL Facility. Total assets by reportable segment and the reconciling items for Corporate & All Other, excluding intercompany receivables between segments, are as follows:
The sales mix for the Company’s principal product and service categories is as follows:
Cigarette sales represented 23.0%, 24.7%, and 26.0% of net sales for the years ended June 28, 2025, June 29, 2024, and July 1, 2023, respectively. The Company’s significant suppliers include Altria Group, Inc. (parent company of Philip Morris USA Inc.) and R.J. Reynolds Tobacco Company, which, in the aggregate, represents approximately 20.4%, 22.4%, and 23.1% of products purchased for the years ended June 28, 2025, June 29, 2024, and July 1, 2023, respectively. Although cigarettes represent a significant portion of the Company’s total net sales and cost of goods sold, the majority of the Company’s gross profit is generated from the sales of food and food-related products. |
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Schedule 1 - Registrant's Condensed Financial Statements |
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| Condensed Financial Information Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule 1 - Registrant's Condensed Financial Statements | SCHEDULE 1—Registrant’s Condensed Financial Statements PERFORMANCE FOOD GROUP COMPANY Parent Company Only CONDENSED BALANCE SHEETS
See accompanying notes to condensed financial statements. PERFORMANCE FOOD GROUP COMPANY Parent Company Only CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
See accompanying notes to condensed financial statements. PERFORMANCE FOOD GROUP COMPANY Parent Company Only CONDENSED STATEMENTS OF CASH FLOWS
Notes to Condensed Parent Company Only Financial Statements 1. Description of Performance Food Group Company Performance Food Group Company (the “Parent”) was incorporated in Delaware on July 23, 2002, to effect the purchase of all the outstanding equity interests of PFGC, Inc. (“PFGC”). The Parent has no significant operations or significant assets or liabilities other than its investment in PFGC. Accordingly, the Parent is dependent upon distributions from PFGC to fund its obligations. However, under the terms of PFGC’s various debt agreements, PFGC’s ability to pay dividends or lend to the Parent is restricted, except that PFGC may pay specified amounts to the Parent to fund the payment of the Parent’s franchise and excise taxes and other fees, taxes, and expenses required to maintain its corporate existence. 2. Basis of Presentation The accompanying condensed financial statements (parent company only) include the accounts of the Parent and its investment in PFGC, Inc. accounted for in accordance with the equity method, and do not present the financial statements of the Parent and its subsidiary on a consolidated basis. These parent company only financial statements should be read in conjunction with the Performance Food Group Company consolidated financial statements. The Parent is included in the consolidated federal and certain unitary, consolidated and combined state income tax returns with its subsidiaries. The Parent’s tax balances reflect its share of such filings. |
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Summary of Significant Accounting Policies and Estimates (Policies) |
12 Months Ended |
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Jun. 28, 2025 | |
| Accounting Policies [Abstract] | |
| Principles of Consolidation | Principles of Consolidation The consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany balances and transactions have been eliminated. |
| Basis of Presentation | Basis of Presentation The financial statements include consolidated balance sheets, consolidated statements of operations, consolidated statements of comprehensive income, consolidated statements of shareholders’ equity, and consolidated statements of cash flows. Certain prior period amounts have been reclassified to conform to current period presentation. In the opinion of management, all adjustments, which consist of normal recurring adjustments, except as otherwise disclosed, necessary to present fairly the financial position, results of operations, comprehensive income, shareholders’ equity, and cash flows for all periods presented have been made. |
| Use of Estimates | Use of Estimates 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, depreciation, amortization, determination of useful lives of tangible and intangible assets, and income taxes. Actual results could differ from these estimates. |
| Risks and Uncertainties | Risks and Uncertainties Our business, our industry and the economy are influenced by a number of general macroeconomic factors, including, but not limited to, reduced demand for our products related to unfavorable macroeconomic conditions triggered by developments beyond our control, including geopolitical dynamics and other events that trigger economic volatility or negatively affect consumer confidence and discretionary spending. We continue to actively monitor the impacts of the evolving macroeconomic and geopolitical landscape, including rapidly evolving tariff and global trade policies, on all aspects of our business. The Company and our industry may face challenges related to uncertain economic conditions and heightened uncertainty in the financial markets, inflationary pressure, an uncertain political environment, supply chain disruptions, and lower disposable incomes due to macroeconomic conditions. Although rapidly evolving tariff and global trade policies caused increased uncertainty in the second half of fiscal 2025, we saw little impact to our results in fiscal 2025. However, the extent and duration of the tariffs and the resulting future impact on general economic conditions and our future financial position, liquidity, and results of operations remains uncertain. Sustained macroeconomic challenges, whether due to tariffs or otherwise, could negatively affect consumer discretionary spending decisions within our customers’ establishments, which could negatively impact our sales and profitability. |
| Cash | Cash The Company maintains its cash primarily in institutions insured by the Federal Deposit Insurance Corporation (“FDIC”). At times, the Company’s cash balance may be in amounts that exceed the FDIC insurance limits. Outstanding checks in excess of deposits are book overdrafts that result in a credit cash balance in the general ledger and are then reinstated as accounts payable. Changes in accounts payable, including checks in excess of deposits, are presented in the operating activities section of the statement of cash flows. |
| Restricted Cash | Restricted Cash The Company is required by its insurers to collateralize a part of the deductibles for its workers’ compensation and liability claims. The Company has chosen to satisfy these collateral requirements primarily by depositing funds in trusts or by issuing letters of credit. The restricted cash balances of $8.2 million and $7.7 million as of June 28, 2025 and June 29, 2024, respectively, represent funds deposited in insurance trusts which are considered Level 1 fair value measurements on the fair value hierarchy. |
| Accounts Receivable | Accounts Receivable Accounts receivable are comprised of trade receivables from customers in the ordinary course of business, are recorded at the invoiced amount, adjusted for any discounts granted to customers, and primarily do not bear interest. Accounts receivable also includes other receivables primarily related to various rebate and promotional incentives with the Company’s suppliers. Receivables are recorded net of the allowance for credit losses on the accompanying consolidated balance sheets. The Company evaluates the collectability of its accounts receivable based on a combination of factors. The Company regularly analyzes its significant customer accounts, and when it becomes aware of a specific customer’s inability to meet its financial obligations to the Company, such as bankruptcy filings or deterioration in the customer’s operating results or financial position, the Company records a specific reserve for bad debt to reduce the related receivable to the amount it reasonably believes is collectible. The Company also records reserves for bad debt for other customers based on a variety of factors, including the length of time the receivables are past due, macroeconomic considerations, and historical experience. If circumstances related to specific customers change, the Company’s estimates of the recoverability of receivables could be further adjusted. The Company recorded $22.7 million in provision in fiscal 2025, $19.8 million in provision in fiscal 2024, and $6.0 million in provision in fiscal 2023 related to reserves for expected credit losses. |
| Inventories | Inventories The Company’s inventories consist primarily of food and non-food products. The Company values inventories at the lower of cost or net realizable value using the first-in, first-out (“FIFO”) method, weighted average cost method, and last-in, first-out (“LIFO”) method. For its LIFO based inventory the Company utilizes the link chain technique of the dollar value method. At June 28, 2025, the Company’s inventory balance of $3,887.7 million consisted primarily of finished goods, $2,163.4 million of which was valued at FIFO, $1,483.3 million valued at LIFO, and $241.0 million valued at weighted average cost. At June 29, 2024, the Company’s inventory balance of $3,314.7 million consisted of $2,164.4 million valued at FIFO and $1,150.3 million valued at LIFO. At June 28, 2025 and June 29, 2024, the LIFO balance sheet reserves were $363.0 million and $275.0 million, respectively. Costs in inventory include the purchase price of the product and freight charges to deliver the product to the Company’s warehouses and are net of certain consideration received from vendors in the amount of $112.1 million and $97.6 million as of June 28, 2025 and June 29, 2024, respectively. The Company adjusts its inventory balances for slow-moving, excess, and obsolete inventories. These adjustments are based upon inventory category, inventory age, specifically identified items, and overall economic conditions. As of June 28, 2025 and June 29, 2024, the Company had adjusted its inventories by approximately $18.0 million and $16.5 million, respectively. |
| Property, Plant, and Equipment | Property, Plant, and Equipment Property, plant, and equipment are stated at cost, less accumulated depreciation and amortization. Cost includes the price paid to acquire or construct the assets, required installation costs, applicable interest charges capitalized during the construction period, and any expenditure that substantially adds to the value or substantially extends the useful life of an existing asset. Additionally, the Company capitalizes qualified costs related to software obtained or developed for internal use as a component of property, plant, and equipment. Routine maintenance and repairs are charged to expense as incurred. The Company begins depreciation and amortization (“depreciation”) for property, plant, and equipment when an asset is both in the location and condition for its intended use. Depreciation of property, plant and equipment, including finance lease assets, is calculated primarily using the straight-line method and is included primarily in operating expenses on the consolidated statements of operations. Annually, or when certain triggering events occur, the Company assesses the useful lives of its property, plant and equipment. Long-lived assets held and used by the Company are tested for recoverability whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. For purposes of evaluating the recoverability of long-lived assets, the Company compares the carrying value of the asset or asset group to the projected, undiscounted future cash flows expected to be generated by the long-lived asset or asset group. Based on the Company’s assessments, immaterial losses related to the impairment of property, plant and equipment were recorded in fiscal 2025 and fiscal 2024, and no impairment losses related to property, plant, and equipment were recorded in fiscal 2023. When assets are retired or otherwise disposed, the costs and related accumulated depreciation are removed from the accounts. The difference between the net book value of the asset and proceeds from disposition is recognized as a gain or loss. |
| Impairment of Long-Lived Assets | Annually, or when certain triggering events occur, the Company assesses the useful lives of its property, plant and equipment. Long-lived assets held and used by the Company are tested for recoverability whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. For purposes of evaluating the recoverability of long-lived assets, the Company compares the carrying value of the asset or asset group to the projected, undiscounted future cash flows expected to be generated by the long-lived asset or asset group. Based on the Company’s assessments, immaterial losses related to the impairment of property, plant and equipment were recorded in fiscal 2025 and fiscal 2024, and no impairment losses related to property, plant, and equipment were recorded in fiscal 2023. |
| Acquisitions, Goodwill, and Other Intangible Assets | Acquisitions, Goodwill, and Other Intangible Assets The Company accounts for acquired businesses using the acquisition method of accounting. The Company’s financial statements reflect the operations of an acquired business starting from the completion of the acquisition. Goodwill and other intangible assets represent the excess of cost of an acquired entity over the amounts specifically assigned to those tangible net assets acquired in a business combination. Other intangible assets typically include customer relationships, trade names, technology, non-compete agreements, and favorable lease assets. Goodwill and intangibles with indefinite lives are not amortized. Intangibles with definite lives are amortized on a straight-line basis over their useful lives, which generally range from to twelve years. Annually, or when certain triggering events occur, the Company assesses the useful lives of its intangibles with definite lives. The gross cost and accumulated amortization of intangible assets are removed when the recorded amounts are fully amortized and the asset is no longer in use or the contract has expired. Amortization expense is recognized in operating expenses on the consolidated statements of operations. Certain assumptions, estimates, and judgments are used in determining the fair value of net assets acquired, including goodwill and other intangible assets, as well as determining the allocation of goodwill to the reporting units. Accordingly, the Company may obtain the assistance of third-party valuation specialists for the valuation of significant tangible and intangible assets. The fair value estimates are based on available historical information and on future expectations and assumptions deemed reasonable by management but that are inherently uncertain. Significant estimates and assumptions inherent in the valuations reflect a consideration of other marketplace participants and include the amount and timing of future cash flows (including expected growth rates and profitability), economic barriers to entry, a brand’s relative market position, and the discount rate applied to the cash flows. Unanticipated market or macroeconomic events and circumstances may occur that could affect the accuracy or validity of the estimates and assumptions. Refer to Note 4. Business Combinations for further discussion of the goodwill and other intangible assets associated with the Company’s acquisitions. The Company is required to test goodwill and other intangible assets with indefinite lives for impairment annually, or more often if circumstances indicate. Indicators of goodwill impairment include, but are not limited to, significant declines in the markets, industries, and customers that buy the Company’s products, changes in the estimated future cash flows of its reporting units, changes in capital markets, and changes in its market capitalization. For goodwill and indefinite-lived intangible assets, the Company’s policy is to assess impairment at the end of each fiscal year. The Company performs a qualitative assessment (commonly referred to as “step zero”) to determine whether further quantitative analysis for impairment of goodwill is necessary. In performing step zero for the Company’s goodwill impairment test, the Company is required to make assumptions and judgments including but not limited to the following: the evaluation of macroeconomic conditions as related to the Company’s business, industry and market trends, and the overall future financial performance of its reporting units and future opportunities in the markets in which they operate. If impairment indicators are present after performing step zero, the Company would perform a quantitative impairment analysis to estimate the fair value of goodwill. During fiscal 2025, fiscal 2024, and fiscal 2023, the Company performed the step zero analysis for its goodwill impairment test and, based on this analysis, determined that no further quantitative impairment test was necessary for the Company’s reporting units within its reportable segments. Based on the Company’s assessment, there were no impairments recorded in fiscal 2025 or fiscal 2024. There was an immaterial impairment of goodwill related to reporting units within the Corporate & All Other segment in fiscal 2023. |
| Insurance Program | Insurance Program The Company maintains high-deductible insurance programs covering portions of general and vehicle liability and workers’ compensation. The amounts in excess of self-insured levels are fully insured by third-party insurance carriers, subject to certain limitations and exclusions. The Company also maintains self-funded group medical insurance. The Company accrues its estimated liability for these deductibles, including an estimate for incurred but not reported claims, based on known claims and past claims history. The estimated short-term portion of these accruals is included in accrued expenses on the Company’s consolidated balance sheets, while the estimated long-term portion of the accruals is included in other long-term liabilities. The provisions for insurance claims include estimates of the frequency and timing of claims occurrence, as well as the ultimate amounts to be paid. These insurance programs are managed by a third party, and the deductibles for general and vehicle liability and workers compensation are primarily collateralized by letters of credit, restricted cash, and cash held by the insurance carrier that offsets the insurance accruals. |
| Other Comprehensive (Loss) Income ("OCI") | Other Comprehensive (Loss) Income (“OCI”) Other comprehensive (loss) income is defined as all changes in equity during each period except for those resulting from net income (loss) and investments by or distributions to shareholders. Other comprehensive (loss) income consists primarily of gains or losses from derivative financial instruments that are designated in a hedging relationship and foreign currency translation from foreign operations. For derivative instruments that qualify as cash flow hedges, the gain or loss on the derivative instrument is reported as a component of other comprehensive income and reclassified into earnings during the same period or periods during which the hedged transaction affects earnings. |
| Revenue Recognition | Revenue Recognition The Company markets and distributes primarily national and Company-branded food and food-related products to customer locations across North America. The Foodservice segment primarily services restaurants and supplies a broad line of products to its customers, including the Company’s Performance Brands and custom-cut meats and seafood, as well as products that are specific to each customer’s menu requirements. The Convenience segment primarily distributes candy, snacks, beverages, cigarettes and other nicotine products, food and food-service products, and other items to convenience stores. Specialty primarily specializes in distributing candy, snacks, beverages, and other food items nationally to vending and office coffee service distributors as well as direct to customer locations including theater and retail locations. The Company disaggregates revenue by customer type and product offerings and determined that disaggregating revenue at the segment level achieves the disclosure objective to depict how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors. Refer to Note 19. Segment Information for external revenue by reportable segment. The Company assesses the products and services promised in its contracts with customers and identifies a performance obligation for each promise to transfer to the customer a product or service (or a bundle of products or services) that is distinct. The Company determined that fulfilling and delivering customer orders constitutes a single performance obligation. Revenue is recognized at the point in time when the Company has satisfied its performance obligation and the customer has obtained control of the products. The Company determined that the customer is able to direct the use of, and obtain substantially all of the benefits from, the products at the time the products are delivered to the customer’s requested destination. The Company considers control to have transferred upon delivery because the Company has a present right to payment at this time, the customer has legal title to the products, the Company has transferred physical possession of the assets, and the customer has significant risks and rewards of ownership of the products. The transaction price recognized is the invoiced price, adjusted for any incentives, such as rebates and discounts granted to the customer. The Company estimates expected returns based on an analysis of historical experience. We adjust our estimate of revenue at the earlier of when the amount of consideration we expect to receive changes or when the consideration becomes fixed. The Company determined it is responsible for collecting and remitting state and local excise taxes on cigarettes and other tobacco products and presents billed excise taxes as part of revenue. Net sales include amounts related to state and local excise taxes which totaled $3.4 billion, $3.6 billion, and $3.9 billion for fiscal 2025, fiscal 2024, and fiscal 2023, respectively. The Company has made a policy election to exclude sales tax from the transaction price. The Company does not have any significant payment terms as payment is received shortly after the point of sale. The Company has customer contracts in which incentives are paid upfront to certain customers. These payments have become industry practice and are not related to financing the customer’s business, nor are they associated with any distinct good or service to be received from the customer. These incentive payments are capitalized and amortized over the life of the contract or the expected life of the customer relationship on a straight-line basis. The Company’s contract asset for these incentives totaled $67.0 million and $55.4 million as of June 28, 2025 and June 29, 2024, respectively. The Company recognizes substantially all of its revenue on a gross basis as a principal. When assessing whether the Company is acting as a principal or an agent, the Company considered the indicators that an entity controls the specified good or service before it is transferred to the customer detailed in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 606-10-55-39. The Company believes it earns substantially all revenue as a principal from the sale of products because the Company is responsible for the fulfillment and acceptability of products purchased. Additionally, the Company holds the general inventory risk for the products, as it takes title to the products before the products are ordered by customers and maintains products in inventory. |
| Cost of Goods Sold | Cost of Goods Sold Cost of goods sold includes amounts paid to suppliers and manufacturers for products sold, the cost of transportation necessary to bring the products to the Company’s facilities, plus depreciation related to processing facilities and equipment. The Company determined it is responsible for remitting state and local excise taxes on cigarettes and other tobacco products and presents remittances of excise taxes as part of cost of goods sold. Additionally, federal excise taxes are levied on manufacturers who pass these taxes on to the Company as a portion of the product costs. As a result, federal excise taxes are not a component of the Company’s excise taxes, but are reflected in the cost of inventory until products are sold. |
| Operating Expenses | Operating Expenses Operating expenses include warehouse, delivery, occupancy, insurance, depreciation, amortization, salaries and wages, employee benefits expenses, and other miscellaneous operating expenses. |
| Vendor Rebates and Other Promotional Incentives | Vendor Rebates and Other Promotional Incentives The Company participates in various rebate and promotional incentives with its suppliers, either unilaterally or in combination with purchasing cooperatives and other procurement partners, that consist primarily of volume and growth rebates, annual and multi-year incentives, and promotional programs. Consideration received under these incentives is generally recorded as a reduction of cost of goods sold. However, as described below, in certain limited circumstances the consideration is recorded as a reduction of operating expenses incurred by the Company. Consideration received may be in the form of cash and/or invoice deductions. Changes in the estimated amount of incentives to be received are treated as changes in estimates and are recognized in the period of change. Consideration received for incentives that contain volume and growth rebates, annual incentives, and multi-year incentives are recorded as a reduction of cost of goods sold. The Company rationally allocates the consideration for these incentives to each underlying transaction that results in progress by the Company toward earning the incentives. If the incentives are not probable and reasonably estimable, the Company records the incentives as the underlying objectives or milestones are achieved. The Company records annual and multi-year incentives when earned, generally over the agreement period. The Company uses current and historical purchasing data, forecasted purchasing volumes, and other factors in estimating whether the underlying objectives or milestones will be achieved. Consideration received to promote and sell the supplier’s products is typically a reimbursement of marketing costs incurred by the Company and is recorded as a reduction of the Company’s operating expenses. If the amount of consideration received from the suppliers exceeds the Company’s marketing costs, any excess is recorded as a reduction of cost of goods sold. |
| Shipping and Handling Costs | Shipping and Handling Costs Shipping and handling costs, which include costs related to the selection of products and delivery to customers, are recorded in operating expenses in the consolidated statements of operations. The Company incurred shipping and handling costs of $2,867.1 million, $2,582.2 million, and $2,502.8 million for fiscal 2025, fiscal 2024, and fiscal 2023, respectively. |
| Stock-Based Compensation | Stock-Based Compensation The Company’s stock-based compensation plans consist of the Performance Food Group Company 2007 Management Option Plan (the “2007 Option Plan”), the Performance Food Group Company 2015 Omnibus Incentive Plan (the “2015 Incentive Plan”), and the Performance Food Group Company 2024 Omnibus Incentive Plan (the “2024 Incentive Plan”). The Company follows the fair value recognition provisions of FASB ASC 718-10-25, Compensation—Stock Compensation—Overall—Recognition which requires that all stock-based compensation be recognized as an expense in the financial statements. The Company recognizes expense for its stock-based compensation based on the fair value of the awards that are granted. The Company estimates the fair value of service-based options using a Black-Scholes option pricing model. The fair values of service-based restricted stock, restricted stock with performance conditions and restricted stock units are based on the Company’s stock price on the date of grant. The Company estimates the fair value of options and restricted stock with market conditions using a Monte Carlo simulation. Compensation cost is recognized ratably over the requisite service period. For those options and restricted stock that have a performance condition, compensation expense is based upon the number of options or shares, as applicable, expected to vest after assessing the probability that the performance criteria will be met. The Company has made a policy election to account for forfeitures as they occur. Compensation expense related to the Company’s employee stock purchase plan, which allows eligible employees to purchase our common stock at a 15% discount, represents the purchase discount plus the fair value of the lookback provision. The fair value of the lookback provision is determined on the first day of the offering period using a Black-Scholes option-pricing model. |
| Income Taxes | Income Taxes The Company follows FASB ASC 740-10, Income Taxes—Overall, which requires the use of the asset and liability method of accounting for deferred income taxes. Deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the tax bases of assets and liabilities and their reported amounts. The Company takes current and future expirations into consideration when evaluating the need for valuation allowances against deferred tax assets. A valuation allowance is provided when it is more likely than not that all or a portion of the deferred tax assets will not be realized. The Company considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. Future tax benefits, including net operating loss carryforwards, are recognized to the extent that realization of such benefits is more likely than not. Investment tax credits are recognized as a reduction of income tax expense. Uncertain tax positions are reviewed on an ongoing basis and are adjusted in light of changing facts and circumstances, including progress of tax audits, developments in case law, and expirations of statutes of limitations. Such adjustments are reflected in the tax provision as appropriate. Income tax calculations are based on the tax laws enacted as of the date of the financial statements. |
| Derivative Instruments and Hedging Activities | Derivative Instruments and Hedging Activities As required by FASB ASC 815-20, Derivatives and Hedging—Hedging—General, the Company records all derivatives on the balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting, and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. The Company primarily uses derivative contracts to manage the exposure to variability in expected future cash flows. A portion of these derivatives is designated and qualifies as cash flow hedges. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the earnings effect of the hedged forecasted transactions in a cash flow hedge. The Company may enter into derivative contracts that are intended to economically hedge certain of its risks, even though hedge accounting does not apply, or the Company elects not to apply hedge accounting under FASB ASC 815-20. In the event that the Company does not apply the provisions of hedge accounting, the derivative instruments are recorded as an asset or liability on the consolidated balance sheets at fair value, and any changes in fair value are recorded as unrealized gains or losses and included in Other expense in the accompanying consolidated statement of operations. See Note 9. Derivatives and Hedging Activities for additional information on the Company’s use of derivative instruments. The Company discloses derivative instruments and hedging activities in accordance with FASB ASC 815-10-50, Derivatives and Hedging—Overall—Disclosure. FASB ASC 815-10-50 sets forth the disclosure requirements with the intent to provide users of financial statements with an enhanced understanding of: (a) how and why an entity uses derivative instruments, (b) how derivative instruments and related hedged items are accounted for under FASB ASC 815-20, and (c) how derivative instruments and related hedged items affect an entity’s financial position, financial performance, and cash flows. FASB ASC 815-10-50 requires qualitative disclosures about objectives and strategies for using derivatives, quantitative disclosures about the fair value of and gains and losses on derivative instruments, and disclosures about credit-risk-related contingent features in derivative instruments. |
| Fair Value Measurements | Fair Value Measurements Fair value is defined as an exit price, representing the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The accounting guidance establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The three levels of the fair value hierarchy are as follows: • Level 1—Observable inputs such as quoted prices for identical assets or liabilities in active markets; • Level 2—Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly for substantially the full term of the asset or liability; and • Level 3—Unobservable inputs in which there are little or no market data, which include management’s own assumption about the risk assumptions market participants would use in pricing an asset or liability. The Company’s derivative instruments are carried at fair value and are evaluated in accordance with this hierarchy. |
| Contingent Liabilities | Contingent Liabilities The Company records a liability related to contingencies when a loss is considered to be probable and a reasonable estimate of the loss can be made. This estimate would include legal settlements, if applicable. |
| Foreign Currency Translation | Foreign Currency Translation The assets and liabilities of the Company’s foreign operations, whose functional currency is the local currency, are translated to U.S. dollars at exchange rates in effect at period-end. Translation gains and losses are recorded in Accumulated Other Comprehensive Income (“AOCI”) as a component of stockholders’ equity. Revenue and expenses from foreign operations are translated using the monthly average exchange rates in effect during the period in which the transactions occur. The Company recognizes gains or losses on foreign currency exchange transactions in the consolidated statements of operations. The Company currently does not hedge foreign currency cash flows. |
| Recently Adopted Accounting Pronouncements | Recently Adopted Accounting Pronouncements In November 2023, the FASB issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The update expands public entities’ segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss. It further requires disclosure of the amount and description of its composition for other segment items, and interim disclosures of both a reportable segment’s profit or loss and assets. The guidance requires disclosure of the title and position of the chief operating decision maker and how reported measures of segment profit or loss are used to assess performance and allocate resources. This pronouncement is effective for annual periods beginning after December 15, 2023, and interim periods within annual reporting periods beginning after December 15, 2024, with early adoption permitted. The amendments in this update have been adopted for fiscal 2025 in this Form 10-K and the required expanded disclosures are included in Note 19. Segment Information. The amendments in this update have been applied retrospectively to each period presented in the consolidated financial statements. The provisions of the new standard do not impact the Company’s results of operations, financial position, or cash flows. Interim reporting requirements are effective for our Quarterly Reports on Forms 10-Q beginning in the fiscal year ending June 27, 2026 (“fiscal 2026”). Recently Issued Accounting Pronouncements Not Yet Adopted In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The update expands public entities’ income tax disclosure requirements primarily by requiring disaggregation of specific categories and reconciling items that meet a quantitative threshold within the rate reconciliation, as well as disaggregation of income taxes paid by jurisdiction. This pronouncement is effective for annual periods beginning after December 15, 2024, with early adoption permitted. The Company will adopt the new standard in fiscal 2026. The amendments in this update should be applied on a prospective basis, with retrospective application permitted. The provisions of the new standard will not impact the Company’s results of operations, financial position, or cash flows but will require the Company to expand its current income tax disclosures. In November 2024, the FASB issued ASU 2024-03, Income Statement--Reporting Comprehensive Income--Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. The update improves the disclosures about a public entity’s expenses and addresses requests from investors for more detailed information about the types of expenses in commonly presented expense captions. In January 2025, the FASB released ASU 2025-01 to clarify ASU 2024-03 is effective for annual periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027. The amendments in this update will be adopted for the fiscal year ending July 1, 2028 (“fiscal 2028”), with annual reporting requirements effective for our fiscal 2028 Annual Report on Form 10-K and interim reporting requirements effective for our Quarterly Reports on Forms 10-Q within the fiscal year ending June 30, 2029. The amendments in this update should be applied prospectively, however, retrospective application is permitted. The Company is in the process of assessing the impact of this ASU on its future consolidated financial statements. |
Business Combinations (Tables) |
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Jun. 28, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Purchase Price Allocation of Major Class of Assets Acquired and Liabilities Assumed | The following table summarizes the purchase price allocation for each major class of assets acquired and liabilities assumed for the four acquisitions for fiscal 2025:
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| Summary of Unaudited Pro-Forma Consolidated Financial Information | The following table summarizes the unaudited pro-forma consolidated financial information of the Company as if the acquisition had occurred on July 2, 2023.
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Goodwill and Other Intangible Assets (Tables) |
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Jun. 28, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Changes in Carrying Amount of Goodwill | The following table presents the changes in the carrying amount of goodwill:
(1)
The fiscal 2024 and 2025 adjustments relate to prior year acquisitions and are the result of net working capital adjustments and deferred tax adjustments. |
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| Schedule of Intangible Assets by Major Category | The following table presents the Company’s intangible assets by major category as of June 28, 2025 and June 29, 2024:
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| Estimated Future Amortization Expense on Intangible Assets | For the next five fiscal periods and thereafter, the estimated future amortization expense on intangible assets with definite lives are as follows:
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Property, Plant, and Equipment (Tables) |
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| Property, Plant and Equipment [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Property Plant and Equipment | Property, plant, and equipment as of June 28, 2025 and June 29, 2024 consisted of the following:
(1)
Leasehold improvements are depreciated over the shorter of the useful life of the asset or the lease term. |
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Debt (Tables) |
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Jun. 28, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Debt | Debt consisted of the following:
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| Schedule of Fiscal Year Maturities of Long-Term Debt, Excluding Finance Lease Obligations | Fiscal year maturities of long-term debt, excluding finance lease obligations, are as follows:
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| ABL Facility [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Outstanding Borrowings, Availability, and Average Interest Rate under ABL Facility | The following table summarizes outstanding borrowings, availability, and the average interest rate under the Prior Credit Agreement and the ABL Facility, as applicable:
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Derivatives and Hedging Activities (Tables) |
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Jun. 28, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Outstanding Swap Agreements | The following table summarizes the outstanding swap agreements as of June 28, 2025 (in millions):
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| Effect of Interest Rate Swaps Designated in Hedging Relationships on Consolidated Statement of Operations | The table below presents the effect of the interest rate swaps designated in hedging relationships on the consolidated statements of operations for the fiscal years ended June 28, 2025, June 29, 2024, and July 1, 2023:
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| Summary of Fair Value of Derivative Financial Instruments | The Company does not currently have a payable or receivable related to cash collateral for its derivatives, and therefore it has not established an accounting policy for offsetting the fair value of its derivatives against such balances. The table below presents the fair value of the derivative financial instruments as well as their classification on the balance sheet as of June 28, 2025 and June 29, 2024:
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| Summary of Derivative Assets and Liability Balance by Type of Financial Instrument Before and After Effects of Offsetting | The tables below present the derivative assets and liability balance, before and after the effects of offsetting, as of June 28, 2025 and June 29, 2024:
The derivative instruments are the only assets or liabilities that are recorded at fair value on a recurring basis. The fuel collars represent Level 2 on the fair value hierarchy because they are not actively traded and are valued using pricing models that utilize observable market inputs including commodity prices. The fair values of the Company’s interest rate swap agreements are determined using a valuation model with several inputs and assumptions, some of which may be unobservable. A specific unobservable input used by the Company in determining the fair value of its interest rate swaps is an estimation of both the unsecured borrowing spread to SOFR for the Company as well as that of the derivative counterparties. Based on the lack of significance of this estimated spread component to the overall value of the Company’s interest rate swaps, the Company has concluded that these swaps represent Level 2 on the hierarchy. |
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Insurance Program Liabilities (Tables) |
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Jun. 28, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Insurance [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Activity in All Types of Deductible Insurance Program Liabilities | A summary of the activity in all types of deductible liabilities appears below:
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Leases (Tables) |
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| Leases [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Right-of-Use Assets and Lease Liabilities in Consolidated Balance Sheet | The following table presents the location of the right-of-use assets and lease liabilities in the Company’s consolidated balance sheet as of June 28, 2025 and June 29, 2024 (in millions), as well as the weighted-average lease term and discount rate for the Company’s leases:
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| Summary of Location of Lease Costs in Consolidated Statement of Operations | The following table presents the location of lease costs in the Company consolidated statement of operations for the periods reported (in millions):
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| Summary of Supplemental Cash Flow Information Related to Leases | Supplemental cash flow information related to leases for the periods reported is as follows:
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| Summary of Future Minimum Lease Payments Under Non-Cancelable Leases | Future minimum lease payments under non-cancelable leases as of June 28, 2025, are as follows (in millions):
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Income Taxes (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 28, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income Tax Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Income Tax Expense | Income tax expense for fiscal 2025, fiscal 2024 and fiscal 2023 consisted of the following:
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| Schedule of Effective Income Tax Rate from Continuing Operation | Actual income tax expense differs from the amount computed by applying the applicable U.S. federal statutory corporate income tax rate of 21% in fiscal 2025, fiscal 2024, and fiscal 2023 to earnings before income taxes as follows:
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| Schedule of Significant Deferred Tax Assets and Liabilities | Temporary differences and carry-forwards that created significant deferred tax assets and liabilities were as follows:
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Earnings Per Common Share (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 28, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Reconciliation of Numerators and Denominators for Basic and Diluted Earnings Per Common Share Computations | A reconciliation of the numerators and denominators for the basic and diluted earnings per common share computations is as follows:
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Stock-based Compensation (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 28, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2007 Option Plan [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Stock Option Activity | The following table summarizes the stock option activity for fiscal 2025 under the 2007 Option Plan.
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| 2015 Incentive Plan [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Stock Option Activity | The following table summarizes the stock option activity for fiscal 2025 under the 2015 Incentive Plan.
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| Summary of Changes in Nonvested Restricted Shares and RSU | The following table summarizes the changes in nonvested restricted shares and restricted stock units for fiscal 2025 under the 2015 Incentive Plan.
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| 2015 Incentive Plan [Member] | Performance-based Restricted Shares [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Weighted Average Assumptions | The Company, with the assistance of a third-party valuation expert, estimated the fair value of performance-based restricted shares with a Relative TSR market condition granted in fiscal 2025, fiscal 2024 and fiscal 2023 using a Monte Carlo simulation with the following weighted-average assumptions:
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| 2024 Incentive Plan [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Changes in Nonvested Restricted Shares and RSU | The following table summarizes the changes in nonvested restricted shares for fiscal 2025 under the 2024 Incentive Plan.
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Segment Information (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 28, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Segment Reporting Information, by Segment |
1 Reflects cost of goods sold included in Segment Adjusted EBITDA and excludes certain items that are included in cost of goods sold, such as the change in LIFO reserve, presented in the consolidated statements of operations. Refer to the table below for a reconciliation of Segment Adjusted EBITDA to consolidated income before taxes. 2 Reflects operating expenses included in Segment Adjusted EBITDA and excludes certain items that are included in operating expense, such as depreciation, amortization, and expenses associated with acquisitions, presented in the consolidated statements of operations. Refer to the table below for a reconciliation of Segment Adjusted EBITDA to consolidated income before taxes. 3 Reflects other income and expense, net included in Segment Adjusted EBITDA and excludes certain items that are included in other expense, net presented in the consolidated statements of operations. Refer to the table below for a reconciliation of Segment Adjusted EBITDA to consolidated income before taxes. |
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| Schedule of Adjusted EBDITA and Reconciliation to Consolidated Income Before Taxes | Segment Adjusted EBITDA for each reportable segment is presented below along with a reconciliation to consolidated income before taxes.
4 Other adjustments include gains and losses on disposal of fixed assets, amounts related to favorable and unfavorable leases, litigation-related accruals, severance, franchise tax expense, insurance proceeds due to hurricane and other weather related events, foreign currency transaction gains and losses, and other adjustments permitted by our ABL Facility. Total assets by reportable segment and the reconciling items for Corporate & All Other, excluding intercompany receivables between segments, are as follows:
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| Summary Sales Mix for Principal Product and Service Categories | The sales mix for the Company’s principal product and service categories is as follows:
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Summary of Business Activities - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions |
12 Months Ended | ||||
|---|---|---|---|---|---|
Jun. 28, 2025 |
Jun. 29, 2024 |
Jul. 01, 2023 |
May 27, 2025 |
Nov. 30, 2022 |
|
| Business Description [Line Items] | |||||
| Repurchased and retired shares, value | $ 57.6 | $ 78.1 | $ 11.2 | ||
| Average cost | $ 75.53 | $ 58.83 | $ 56.06 | ||
| Previously Authorized Share Repurchase Program [Member] | |||||
| Business Description [Line Items] | |||||
| Share repurchase program, authorized amount | $ 300.0 | ||||
| Common Stock [Member] | |||||
| Business Description [Line Items] | |||||
| Number of shares repurchased and retired | 800,000 | 1,300,000 | 200,000 | ||
| Repurchased and retired shares, value | $ 57.6 | $ 78.1 | $ 11.2 | ||
| Share repurchase plan, remaining available amount | $ 500.0 | ||||
| Common Stock [Member] | Maximum [Member] | |||||
| Business Description [Line Items] | |||||
| Share repurchase program, authorized amount | $ 500.0 | $ 300.0 | |||
| Number of shares repurchased and retired | 800,000 | ||||
Business Combinations - Additional Information (Detail) $ in Millions |
9 Months Ended | 12 Months Ended | |||
|---|---|---|---|---|---|
|
Oct. 08, 2024
USD ($)
|
Jun. 28, 2025
USD ($)
|
Jun. 28, 2025
USD ($)
Acquisition
|
Jun. 29, 2024
USD ($)
Acquisition
|
Jul. 01, 2023
USD ($)
Acquisition
|
|
| Business Acquisition [Line Items] | |||||
| Number of acquisitions | Acquisition | 4 | 2 | 1 | ||
| Intangible assets estimated useful life | 11 years 7 months 6 days | ||||
| Goodwill | $ 3,480.1 | $ 3,480.1 | $ 2,418.3 | $ 2,301.0 | |
| Cash payment for acquisition | 2,596.4 | 307.7 | 63.8 | ||
| Net sales | 63,298.9 | 58,281.2 | 57,254.7 | ||
| Net loss | $ 340.2 | 435.9 | 397.2 | ||
| Acqusition costs included in pro-forma net income | 75.6 | ||||
| Minimum [Member] | |||||
| Business Acquisition [Line Items] | |||||
| Intangible assets estimated useful life | 2 years | ||||
| Minimum [Member] | Customer Relationships [Member] | |||||
| Business Acquisition [Line Items] | |||||
| Intangible assets estimated useful life | 4 years | ||||
| Minimum [Member] | Trade Names [Member] | |||||
| Business Acquisition [Line Items] | |||||
| Intangible assets estimated useful life | 4 years | ||||
| Maximum [Member] | |||||
| Business Acquisition [Line Items] | |||||
| Intangible assets estimated useful life | 12 years | ||||
| Maximum [Member] | Customer Relationships [Member] | |||||
| Business Acquisition [Line Items] | |||||
| Intangible assets estimated useful life | 12 years | ||||
| Maximum [Member] | Trade Names [Member] | |||||
| Business Acquisition [Line Items] | |||||
| Intangible assets estimated useful life | 12 years | ||||
| Cheney Brothers [Member] | |||||
| Business Acquisition [Line Items] | |||||
| Total purchase price | $ 2,000.0 | ||||
| Cash portion of the acquisition | 1,977.1 | ||||
| Deferred consideration payable to seller | $ 32.4 | ||||
| Period for deferred consideration | 5 years | ||||
| Deferred consideration payable to the seller | 29.4 | $ 29.4 | |||
| Net sales | 2,700.0 | ||||
| Net loss | 11.2 | ||||
| Business Acquisition Cost [Member] | |||||
| Business Acquisition [Line Items] | |||||
| Number of acquisitions | Acquisition | 4 | ||||
| Goodwill | 1,066.8 | $ 1,066.8 | |||
| Cash payment for acquisition | 2,600.0 | $ 307.7 | $ 63.8 | ||
| Business Acquisition Cost [Member] | Cheney Brothers [Member] | |||||
| Business Acquisition [Line Items] | |||||
| Goodwill | $ 750.9 | $ 750.9 | |||
Business Combinations - Summary of Purchase Price Allocation of Major Class of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Millions |
Jun. 28, 2025 |
Jun. 29, 2024 |
Jul. 01, 2023 |
|---|---|---|---|
| Business Acquisition [Line Items] | |||
| Goodwill | $ 3,480.1 | $ 2,418.3 | $ 2,301.0 |
| Business Acquisition Cost [Member] | |||
| Business Acquisition [Line Items] | |||
| Net working capital | 293.4 | ||
| Goodwill | 1,066.8 | ||
| Intangible assets with definite lives: | |||
| Property, plant and equipment | 785.2 | ||
| Operating lease right-of-use assets | 11.0 | ||
| Other assets | 10.3 | ||
| Deferred tax liabilities | (396.9) | ||
| Finance lease obligations | (97.4) | ||
| Operating lease obligations | (11.0) | ||
| Other long-term liabilities | (26.9) | ||
| Total purchase price | 2,596.4 | ||
| Business Acquisition Cost [Member] | Customer Relationships [Member] | |||
| Intangible assets with definite lives: | |||
| Intangible assets with definite lives | 723.9 | ||
| Business Acquisition Cost [Member] | Trade Names [Member] | |||
| Intangible assets with definite lives: | |||
| Intangible assets with definite lives | 238.0 | ||
| Business Acquisition Cost [Member] | Cheney Brothers [Member] | |||
| Business Acquisition [Line Items] | |||
| Net working capital | 241.7 | ||
| Goodwill | 750.9 | ||
| Intangible assets with definite lives: | |||
| Property, plant and equipment | 726.1 | ||
| Operating lease right-of-use assets | 6.7 | ||
| Other assets | 10.1 | ||
| Deferred tax liabilities | (271.5) | ||
| Finance lease obligations | (96.8) | ||
| Operating lease obligations | (6.7) | ||
| Other long-term liabilities | (26.9) | ||
| Total purchase price | 1,978.6 | ||
| Business Acquisition Cost [Member] | Cheney Brothers [Member] | Customer Relationships [Member] | |||
| Intangible assets with definite lives: | |||
| Intangible assets with definite lives | 485.0 | ||
| Business Acquisition Cost [Member] | Cheney Brothers [Member] | Trade Names [Member] | |||
| Intangible assets with definite lives: | |||
| Intangible assets with definite lives | 160.0 | ||
| Business Acquisition Cost [Member] | Other [Member] | |||
| Business Acquisition [Line Items] | |||
| Net working capital | 51.7 | ||
| Goodwill | 315.9 | ||
| Intangible assets with definite lives: | |||
| Property, plant and equipment | 59.1 | ||
| Operating lease right-of-use assets | 4.3 | ||
| Other assets | 0.2 | ||
| Deferred tax liabilities | (125.4) | ||
| Finance lease obligations | (0.6) | ||
| Operating lease obligations | (4.3) | ||
| Other long-term liabilities | 0.0 | ||
| Total purchase price | 617.8 | ||
| Business Acquisition Cost [Member] | Other [Member] | Customer Relationships [Member] | |||
| Intangible assets with definite lives: | |||
| Intangible assets with definite lives | 238.9 | ||
| Business Acquisition Cost [Member] | Other [Member] | Trade Names [Member] | |||
| Intangible assets with definite lives: | |||
| Intangible assets with definite lives | $ 78.0 |
Business Combinations - Summary of Unaudited Pro-Forma Consolidated Financial Information (Detail) - USD ($) $ in Millions |
12 Months Ended | |
|---|---|---|
Jun. 28, 2025 |
Jun. 29, 2024 |
|
| Business Combination [Abstract] | ||
| Net sales | $ 64,190.7 | $ 61,564.5 |
| Net income | $ 365.2 | $ 325.2 |
Goodwill and Other Intangible Assets - Changes in Carrying Amount of Goodwill (Detail) - USD ($) $ in Millions |
12 Months Ended | |||
|---|---|---|---|---|
Jun. 28, 2025 |
Jun. 29, 2024 |
|||
| Goodwill [Line Items] | ||||
| Goodwill, Beginning Balance | $ 2,418.3 | $ 2,301.0 | ||
| Acquisitions | 1,066.8 | 116.4 | ||
| Adjustment related to prior year acquisition | [1] | (5.0) | 0.9 | |
| Goodwill, Ending Balance | 3,480.1 | 2,418.3 | ||
| Foodservice [Member] | ||||
| Goodwill [Line Items] | ||||
| Goodwill, Beginning Balance | 1,300.9 | 1,300.9 | ||
| Acquisitions | 1,052.5 | 0.0 | ||
| Adjustment related to prior year acquisition | [1] | 0.0 | 0.0 | |
| Goodwill, Ending Balance | 2,353.4 | 1,300.9 | ||
| Convenience [Member] | ||||
| Goodwill [Line Items] | ||||
| Goodwill, Beginning Balance | 884.1 | 884.1 | ||
| Acquisitions | 11.2 | 0.0 | ||
| Goodwill, Ending Balance | 895.3 | 884.1 | ||
| Specialty [Member] | ||||
| Goodwill [Line Items] | ||||
| Goodwill, Beginning Balance | 133.4 | 93.9 | ||
| Acquisitions | 0.0 | 39.5 | ||
| Goodwill, Ending Balance | 133.4 | 133.4 | ||
| Other [Member] | ||||
| Goodwill [Line Items] | ||||
| Goodwill, Beginning Balance | 99.9 | 22.1 | ||
| Acquisitions | 3.1 | 76.9 | ||
| Adjustment related to prior year acquisition | [1] | (5.0) | 0.9 | |
| Goodwill, Ending Balance | $ 98.0 | $ 99.9 | ||
| ||||
Goodwill and Other Intangible Assets - Schedule of Intangible Assets by Major Category (Detail) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Jun. 28, 2025 |
Jun. 29, 2024 |
Jul. 01, 2023 |
|
| Goodwill And Other Intangible Assets [Line Items] | |||
| Intangible assets with definite lives, Gross Carrying Amount | $ 3,295.8 | $ 2,322.5 | |
| Intangible assets with definite lives, Accumulated Amortization | (1,632.9) | (1,377.0) | |
| Total amortization expense | 1,662.9 | 945.5 | |
| Goodwill gross | 3,480.1 | 2,418.3 | |
| Goodwill | 3,480.1 | 2,418.3 | $ 2,301.0 |
| Trade names | 25.6 | 25.6 | |
| Indefinite Lived Intangible Assets Gross Including Goodwill, Total | 3,505.7 | 2,443.9 | |
| Indefinite Lived Intangible Assets Net Including Goodwill, Total | 3,505.7 | 2,443.9 | |
| Customer Relationships [Member] | |||
| Goodwill And Other Intangible Assets [Line Items] | |||
| Intangible assets with definite lives, Gross Carrying Amount | 2,400.1 | 1,680.6 | |
| Intangible assets with definite lives, Accumulated Amortization | (1,065.5) | (898.0) | |
| Total amortization expense | $ 1,334.6 | 782.6 | |
| Customer Relationships [Member] | Minimum [Member] | |||
| Goodwill And Other Intangible Assets [Line Items] | |||
| Intangible assets with definite lives | 4 years | ||
| Customer Relationships [Member] | Maximum [Member] | |||
| Goodwill And Other Intangible Assets [Line Items] | |||
| Intangible assets with definite lives | 12 years | ||
| Trade Names and Trademarks [Member] | |||
| Goodwill And Other Intangible Assets [Line Items] | |||
| Intangible assets with definite lives, Gross Carrying Amount | $ 716.2 | 483.5 | |
| Intangible assets with definite lives, Accumulated Amortization | (422.9) | (343.4) | |
| Total amortization expense | $ 293.3 | 140.1 | |
| Trade Names and Trademarks [Member] | Minimum [Member] | |||
| Goodwill And Other Intangible Assets [Line Items] | |||
| Intangible assets with definite lives | 4 years | ||
| Trade Names and Trademarks [Member] | Maximum [Member] | |||
| Goodwill And Other Intangible Assets [Line Items] | |||
| Intangible assets with definite lives | 12 years | ||
| Deferred Financing Costs [Member] | |||
| Goodwill And Other Intangible Assets [Line Items] | |||
| Intangible assets with definite lives, Gross Carrying Amount | $ 97.9 | 73.3 | |
| Intangible assets with definite lives, Accumulated Amortization | (69.2) | (62.8) | |
| Total amortization expense | $ 28.7 | 10.5 | |
| Intangible assets with definite lives | Debt term | ||
| Non-Compete [Member] | |||
| Goodwill And Other Intangible Assets [Line Items] | |||
| Intangible assets with definite lives, Gross Carrying Amount | $ 45.4 | 48.4 | |
| Intangible assets with definite lives, Accumulated Amortization | (41.6) | (40.6) | |
| Total amortization expense | $ 3.8 | 7.8 | |
| Non-Compete [Member] | Minimum [Member] | |||
| Goodwill And Other Intangible Assets [Line Items] | |||
| Intangible assets with definite lives | 2 years | ||
| Non-Compete [Member] | Maximum [Member] | |||
| Goodwill And Other Intangible Assets [Line Items] | |||
| Intangible assets with definite lives | 5 years | ||
| Technology [Member] | |||
| Goodwill And Other Intangible Assets [Line Items] | |||
| Intangible assets with definite lives, Gross Carrying Amount | $ 36.2 | 36.7 | |
| Intangible assets with definite lives, Accumulated Amortization | (33.7) | (32.2) | |
| Total amortization expense | $ 2.5 | $ 4.5 | |
| Technology [Member] | Minimum [Member] | |||
| Goodwill And Other Intangible Assets [Line Items] | |||
| Intangible assets with definite lives | 5 years | ||
| Technology [Member] | Maximum [Member] | |||
| Goodwill And Other Intangible Assets [Line Items] | |||
| Intangible assets with definite lives | 8 years |
Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Jun. 28, 2025 |
Jun. 29, 2024 |
Jul. 01, 2023 |
|
| Goodwill and Intangible Assets Disclosure [Abstract] | |||
| Intangible assets and deferred financing costs amortization | $ 269.1 | $ 206.3 | $ 185.7 |
Goodwill and Other Intangible Assets - Estimated Future Amortization Expense on Intangible Assets (Detail) - USD ($) $ in Millions |
Jun. 28, 2025 |
Jun. 29, 2024 |
|---|---|---|
| Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | ||
| 2026 | $ 273.2 | |
| 2027 | 221.6 | |
| 2028 | 189.9 | |
| 2029 | 188.4 | |
| 2030 | 181.0 | |
| Thereafter | 608.8 | |
| Total amortization expense | $ 1,662.9 | $ 945.5 |
Concentration of Sales and Credit Risk - Additional Information (Detail) - Maximum [Member] |
12 Months Ended | ||
|---|---|---|---|
Jun. 28, 2025 |
Jun. 29, 2024 |
Jul. 01, 2023 |
|
| Consolidated Net Sales [Member] | Customer Concentration Risk [Member] | |||
| Concentration Risk [Line Items] | |||
| Concentration risk percentage | 10.00% | 10.00% | 10.00% |
| Consolidated Accounts Receivable [Member] | Credit Concentration Risk [Member] | |||
| Concentration Risk [Line Items] | |||
| Concentration risk percentage | 10.00% | 10.00% | |
Property, Plant, and Equipment - Summary of Property Plant and Equipment (Detail) - USD ($) $ in Millions |
Jun. 28, 2025 |
Jun. 29, 2024 |
|---|---|---|
| Property Plant And Equipment [Line Items] | ||
| Property, plant and equipment, gross | $ 6,555.3 | $ 4,536.6 |
| Less: accumulated depreciation and amortization | (2,096.6) | (1,748.1) |
| Property, plant and equipment, net | $ 4,458.7 | 2,788.5 |
| Property, Plant, and Equipment, Useful Life, Term, Description [Extensible Enumeration] | Property, plant and equipment, net | |
| Minimum [Member] | ||
| Property Plant And Equipment [Line Items] | ||
| Property, plant and equipment, Range of Lives | 2 years | |
| Maximum [Member] | ||
| Property Plant And Equipment [Line Items] | ||
| Property, plant and equipment, Range of Lives | 39 years | |
| Warehouse and Plant Equipment [Member] | ||
| Property Plant And Equipment [Line Items] | ||
| Property, plant and equipment, gross | $ 930.8 | 785.9 |
| Warehouse and Plant Equipment [Member] | Minimum [Member] | ||
| Property Plant And Equipment [Line Items] | ||
| Property, plant and equipment, Range of Lives | 3 years | |
| Warehouse and Plant Equipment [Member] | Maximum [Member] | ||
| Property Plant And Equipment [Line Items] | ||
| Property, plant and equipment, Range of Lives | 20 years | |
| Building and Building Improvements [Member] | ||
| Property Plant And Equipment [Line Items] | ||
| Property, plant and equipment, gross | $ 2,124.8 | 1,101.3 |
| Building and Building Improvements [Member] | Minimum [Member] | ||
| Property Plant And Equipment [Line Items] | ||
| Property, plant and equipment, Range of Lives | 10 years | |
| Building and Building Improvements [Member] | Maximum [Member] | ||
| Property Plant And Equipment [Line Items] | ||
| Property, plant and equipment, Range of Lives | 39 years | |
| Land [Member] | ||
| Property Plant And Equipment [Line Items] | ||
| Property, plant and equipment, gross | $ 185.3 | 105.2 |
| Transportation Equipment [Member] | ||
| Property Plant And Equipment [Line Items] | ||
| Property, plant and equipment, gross | $ 2,063.0 | 1,440.2 |
| Transportation Equipment [Member] | Minimum [Member] | ||
| Property Plant And Equipment [Line Items] | ||
| Property, plant and equipment, Range of Lives | 2 years | |
| Transportation Equipment [Member] | Maximum [Member] | ||
| Property Plant And Equipment [Line Items] | ||
| Property, plant and equipment, Range of Lives | 19 years | |
| Office Equipment, Furniture, and Fixtures [Member] | ||
| Property Plant And Equipment [Line Items] | ||
| Property, plant and equipment, gross | $ 516.5 | 442.5 |
| Office Equipment, Furniture, and Fixtures [Member] | Minimum [Member] | ||
| Property Plant And Equipment [Line Items] | ||
| Property, plant and equipment, Range of Lives | 2 years | |
| Office Equipment, Furniture, and Fixtures [Member] | Maximum [Member] | ||
| Property Plant And Equipment [Line Items] | ||
| Property, plant and equipment, Range of Lives | 10 years | |
| Leasehold Improvements [Member] | ||
| Property Plant And Equipment [Line Items] | ||
| Property, plant and equipment, gross | $ 463.8 | 362.0 |
| Property, Plant, and Equipment, Useful Life, Term, Description [Extensible Enumeration] | us-gaap:UsefulLifeShorterOfTermOfLeaseOrAssetUtilityMember | |
| Construction-in-Process [Member] | ||
| Property Plant And Equipment [Line Items] | ||
| Property, plant and equipment, gross | $ 271.1 | $ 299.5 |
Property, Plant, and Equipment - Additional Information (Detail) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Jun. 28, 2025 |
Jun. 29, 2024 |
Jul. 01, 2023 |
|
| Property, Plant and Equipment [Abstract] | |||
| Depreciation expense | $ 455.3 | $ 355.2 | $ 315.7 |
Debt - Schedule of Debt (Detail) - USD ($) $ in Millions |
Jun. 28, 2025 |
Jun. 29, 2024 |
|---|---|---|
| Debt Instrument [Line Items] | ||
| Long-term debt, gross | $ 5,415.0 | |
| Less: Original issue discount and deferred financing costs | (26.2) | $ (22.3) |
| Long-term debt | 5,388.8 | 3,198.5 |
| Less: current installments | 0.0 | 0.0 |
| Total debt, excluding current installments | 5,388.8 | 3,198.5 |
| Credit Agreement [Member] | ||
| Debt Instrument [Line Items] | ||
| Long-term debt, gross | 2,355.0 | 1,160.8 |
| 5.500% Notes due 2027, effective interest rate 5.930% [Member] | ||
| Debt Instrument [Line Items] | ||
| Long-term debt, gross | 1,060.0 | 1,060.0 |
| 4.250% Notes due 2029, effective interest rate 4.439% [Member] | ||
| Debt Instrument [Line Items] | ||
| Long-term debt, gross | 1,000.0 | 1,000.0 |
| 6.125% Notes due 2032, effective interest rate 6.286% [Member] | ||
| Debt Instrument [Line Items] | ||
| Long-term debt, gross | $ 1,000.0 | $ 0.0 |
Debt - Schedule of Debt (Parenthetical) (Detail) |
12 Months Ended |
|---|---|
Jun. 28, 2025 | |
| 5.500% Notes due 2027, effective interest rate 5.930% [Member] | |
| Debt Instrument [Line Items] | |
| Debt instruments amount, interest rate | 5.50% |
| Debt instruments maturity year | 2027 |
| Debt instruments effective interest rate | 5.93% |
| 4.250% Notes due 2029, effective interest rate 4.439% [Member] | |
| Debt Instrument [Line Items] | |
| Debt instruments amount, interest rate | 4.25% |
| Debt instruments maturity year | 2029 |
| Debt instruments effective interest rate | 4.439% |
| 6.125% Notes due 2032, effective interest rate 6.286% [Member] | |
| Debt Instrument [Line Items] | |
| Debt instruments amount, interest rate | 6.125% |
| Debt instruments maturity year | 2032 |
| Debt instruments effective interest rate | 6.286% |
Debt - Additional Information (Detail) - USD ($) $ in Millions |
12 Months Ended | ||||||
|---|---|---|---|---|---|---|---|
Sep. 12, 2024 |
Sep. 09, 2024 |
May 01, 2024 |
Jul. 26, 2021 |
Sep. 27, 2019 |
Jun. 28, 2025 |
Apr. 24, 2020 |
|
| 4.250% Senior Notes due 2029 [Member] | |||||||
| Debt Instrument [Line Items] | |||||||
| Debt instruments face amount | $ 1,000.0 | ||||||
| Debt instruments amount, interest rate | 4.25% | ||||||
| Debt instruments maturity year | 2029 | ||||||
| Issue price of notes as a percentage of par value | 100.00% | ||||||
| Debt Instrument maturity date | Aug. 01, 2029 | ||||||
| Debt Instrument, description of redemption | 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 due 2029 will have the right to require Performance Food Group, Inc. to repurchase each holder’s Notes due 2029 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. | ||||||
| 4.250% Senior Notes due 2029 [Member] | Change of Control Triggering Event [Member] | |||||||
| Debt Instrument [Line Items] | |||||||
| Percentage price of principal amount at which debt can be redeemed | 101.00% | ||||||
| 4.250% Senior Notes due 2029 [Member] | Case of Asset Sale [Member] | |||||||
| Debt Instrument [Line Items] | |||||||
| Percentage price of principal amount at which debt can be redeemed | 100.00% | ||||||
| 4.250% Senior Notes due 2029 [Member] | On September 15, 2029 [Member] | |||||||
| Debt Instrument [Line Items] | |||||||
| Percentage price of principal amount at which debt can be redeemed | 100.00% | ||||||
| 4.250% Senior Notes due 2029 [Member] | Beginning on September 15, 2027 [Member] | |||||||
| Debt Instrument [Line Items] | |||||||
| Percentage price of principal amount at which debt can be redeemed | 102.125% | ||||||
| 4.250% Senior Notes due 2029 [Member] | On September 15, 2028 [Member] | |||||||
| Debt Instrument [Line Items] | |||||||
| Percentage price of principal amount at which debt can be redeemed | 101.163% | ||||||
| ABL Facility [Member] | |||||||
| Debt Instrument [Line Items] | |||||||
| Credit facility, maturity date | Sep. 09, 2029 | ||||||
| Line of credit facility, maximum revolving commitments | $ 5,000.0 | ||||||
| Debt instrument description of variable rate | (a) the Base Rate (defined as the greatest of (i) a floor rate of 0.00%, (ii) the federal funds rate in effect on such date plus 0.5%, (iii) the prime rate on such day, or (iv) one month Term SOFR plus 1.0%) plus a spread or (b) Adjusted Term SOFR plus a spread. | ||||||
| Credit facility, covenant terms | The ABL Facility contains covenants requiring the maintenance of a minimum consolidated fixed charge coverage ratio if Alternate Availability (as defined in the ABL Facility) falls below the greater of (i) $375.0 million and (ii) 10% of the lesser of the borrowing base and the sum of (a) the aggregate commitments plus (b) any outstanding term loans for five consecutive business days. | ||||||
| Committed amount to be maintained under the covenant | $ 375.0 | ||||||
| Covenant borrowing base, percentage | 10.00% | ||||||
| ABL Facility [Member] | Federal Funds Effective Swap Rate [Member] | |||||||
| Debt Instrument [Line Items] | |||||||
| Basis spread on variable rate | 0.50% | ||||||
| ABL Facility [Member] | Secured Overnight Financing Rate (SOFR) [Member] | |||||||
| Debt Instrument [Line Items] | |||||||
| Basis spread on variable rate | 1.00% | ||||||
| ABL Facility [Member] | Base Rate [Member] | |||||||
| Debt Instrument [Line Items] | |||||||
| Basis spread on variable rate | 0.00% | ||||||
| ABL Facility [Member] | Minimum [Member] | |||||||
| Debt Instrument [Line Items] | |||||||
| Credit facility, commitment fee rate | 0.25% | ||||||
| ABL Facility [Member] | Maximum [Member] | |||||||
| Debt Instrument [Line Items] | |||||||
| Credit facility, uncommitted incremental facilities | $ 1,000.0 | ||||||
| Prior Credit Agreement [Member] | |||||||
| Debt Instrument [Line Items] | |||||||
| Debt instruments face amount | $ 4,000.0 | ||||||
| Credit facility, maturity date | Sep. 17, 2026 | Sep. 17, 2026 | |||||
| Line of credit facility, maximum revolving commitments | $ 4,000.0 | ||||||
| 5.500% Senior Notes due 2027 [Member] | |||||||
| Debt Instrument [Line Items] | |||||||
| Debt instruments face amount | $ 1,060.0 | ||||||
| Debt instruments amount, interest rate | 5.50% | ||||||
| Percentage price of principal amount at which debt can be redeemed | 100.00% | ||||||
| Issue price of notes as a percentage of par value | 100.00% | ||||||
| Debt Instrument maturity date | Oct. 15, 2027 | ||||||
| Debt Instrument, description of redemption | 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 due 2027 will have the right to require Performance Food Group, Inc. to repurchase each holder’s Notes due 2027 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. | ||||||
| Debt instruments frequency of payments | semi-annually | ||||||
| 5.500% Senior Notes due 2027 [Member] | Change of Control Triggering Event [Member] | |||||||
| Debt Instrument [Line Items] | |||||||
| Percentage price of principal amount at which debt can be redeemed | 101.00% | ||||||
| 5.500% Senior Notes due 2027 [Member] | Case of Asset Sale [Member] | |||||||
| Debt Instrument [Line Items] | |||||||
| Percentage price of principal amount at which debt can be redeemed | 100.00% | ||||||
| 5.500% Senior Notes due 2024 [Member] | |||||||
| Debt Instrument [Line Items] | |||||||
| Debt instruments amount, interest rate | 5.50% | ||||||
| 6.875% Senior Notes due 2025 [member] | |||||||
| Debt Instrument [Line Items] | |||||||
| Debt instruments face amount | $ 275.0 | ||||||
| Debt instruments amount, interest rate | 6.875% | ||||||
| Percentage price of principal amount at which debt can be redeemed | 100.00% | ||||||
| 6.125% Notes due 2032 [Member] | |||||||
| Debt Instrument [Line Items] | |||||||
| Debt instruments face amount | $ 1,000.0 | ||||||
| Debt instruments amount, interest rate | 6.125% | ||||||
| Debt instruments maturity year | 2032 | ||||||
| Percentage price of principal amount at which debt can be redeemed | 100.00% | ||||||
| Issue price of notes as a percentage of par value | 100.00% | ||||||
| Debt Instrument maturity date | Sep. 15, 2032 | ||||||
| Debt Instrument, description of redemption | 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 due 2032 will have the right to require Performance Food Group, Inc. to repurchase each holder’s Notes due 2032 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. | ||||||
| 6.125% Notes due 2032 [Member] | Change of Control Triggering Event [Member] | |||||||
| Debt Instrument [Line Items] | |||||||
| Percentage price of principal amount at which debt can be redeemed | 101.00% | ||||||
| 6.125% Notes due 2032 [Member] | Case of Asset Sale [Member] | |||||||
| Debt Instrument [Line Items] | |||||||
| Percentage price of principal amount at which debt can be redeemed | 100.00% | ||||||
| 6.125% Notes due 2032 [Member] | Prior to September 15, 2027 [Member] | |||||||
| Debt Instrument [Line Items] | |||||||
| Percentage price of principal amount at which debt can be redeemed | 106.125% | ||||||
| 6.125% Notes due 2032 [Member] | On September 15, 2029 [Member] | |||||||
| Debt Instrument [Line Items] | |||||||
| Percentage price of principal amount at which debt can be redeemed | 100.00% | ||||||
| 6.125% Notes due 2032 [Member] | Beginning on September 15, 2027 [Member] | |||||||
| Debt Instrument [Line Items] | |||||||
| Percentage price of principal amount at which debt can be redeemed | 103.063% | ||||||
| 6.125% Notes due 2032 [Member] | On September 15, 2028 [Member] | |||||||
| Debt Instrument [Line Items] | |||||||
| Percentage price of principal amount at which debt can be redeemed | 101.531% | ||||||
| 6.125% Notes due 2032 [Member] | Maximum [Member] | |||||||
| Debt Instrument [Line Items] | |||||||
| Early debt redemption percentage | 40.00% | ||||||
| ABL Facility, Notes due 2032 [Member] | |||||||
| Debt Instrument [Line Items] | |||||||
| Debt covenant restrictive amount | $ 1,745.0 |
Debt - Summary of Outstanding Borrowings, Availability, and Average Interest Rate under ABL Facility (Detail) - USD ($) $ in Millions |
Jun. 28, 2025 |
Jun. 29, 2024 |
|---|---|---|
| Debt Instrument [Line Items] | ||
| Aggregate borrowings | $ 5,415.0 | |
| ABL Facility [Member] | ||
| Debt Instrument [Line Items] | ||
| Aggregate borrowings | 2,355.0 | $ 1,160.8 |
| Letters of credit | 171.4 | 160.4 |
| Excess availability, net of lenders' reserves of $96.3 and $99.7 | $ 2,473.6 | $ 2,678.8 |
| Average interest rate, excluding impact of interest rate swaps | 5.86% | 6.79% |
Debt - Summary of Outstanding Borrowings, Availability, and Average Interest Rate under ABL Facility (Parenthetical) (Detail) - USD ($) $ in Millions |
Jun. 28, 2025 |
Jun. 29, 2024 |
|---|---|---|
| ABL Facility [Member] | ||
| Debt Instrument [Line Items] | ||
| Debt amount reserve by lender | $ 106.0 | $ 96.3 |
Debt - Schedule of Fiscal Year Maturities of Long Term Debt Excluding Finance Lease Obligation (Detail) $ in Millions |
Jun. 28, 2025
USD ($)
|
|---|---|
| Debt Disclosure [Abstract] | |
| 2026 | $ 0.0 |
| 2027 | 0.0 |
| 2028 | 1,060.0 |
| 2029 | 0.0 |
| 2030 | 3,355.0 |
| Thereafter | 1,000.0 |
| Total long-term debt, excluding finance lease obligations | $ 5,415.0 |
Derivatives and Hedging Activities - Additional Information (Detail) $ in Millions |
6 Months Ended | 12 Months Ended | |||
|---|---|---|---|---|---|
|
Dec. 31, 2025
gal
|
Jun. 30, 2025
USD ($)
|
Jun. 28, 2025
USD ($)
Interest_Rates_Swaps
Agreement
gal
|
Jun. 29, 2024
USD ($)
|
Jul. 01, 2023
USD ($)
|
|
| Derivative [Line Items] | |||||
| Reclassification losses to interest expense | $ 0.8 | ||||
| Number of arrangements | Agreement | 6 | ||||
| Non-monetary notional amount volume | gal | 22,700,000 | ||||
| Non-monetary notional amount remaining volume | gal | 11,400,000 | ||||
| Derivative income expense related to cash settlement | $ 0.7 | ||||
| Scenario Forecast [Member] | |||||
| Derivative [Line Items] | |||||
| Non-monetary notional amount volume | gal | 11,400,000 | ||||
| Interest Rate Swaps [Member] | |||||
| Derivative [Line Items] | |||||
| Number of interest rate swaps | Interest_Rates_Swaps | 2 | ||||
| Notional Amount | $ 150.0 | ||||
| Fuel Collar Instruments [Member] | |||||
| Derivative [Line Items] | |||||
| Recognized loss related to changes in fair value | $ 18.3 | ||||
| Recognized gain related to changes in fair value | $ 0.5 | ||||
| Derivative income expense related to cash settlement | $ 1.9 | ||||
| Swap Instruments [Member] | |||||
| Derivative [Line Items] | |||||
| Recognized gain related to changes in fair value | $ 3.7 | ||||
| Derivative income expense related to cash settlement | $ 12.6 | ||||
Derivatives and Hedging Activities - Schedule of Outstanding Swap Agreements (Detail) $ in Millions |
12 Months Ended |
|---|---|
|
Jun. 28, 2025
USD ($)
| |
| Interest Rate Swap Agreement One [Member] | |
| Derivative [Line Items] | |
| Effective Date | Dec. 16, 2024 |
| Maturity Date | Dec. 15, 2027 |
| Notional Amount | $ 100.0 |
| Fixed Rate Swapped | 3.14% |
| Interest Rate Swap Agreement Two [Member] | |
| Derivative [Line Items] | |
| Effective Date | Dec. 16, 2024 |
| Maturity Date | Dec. 15, 2027 |
| Notional Amount | $ 50.0 |
| Fixed Rate Swapped | 3.59% |
Derivatives and Hedging Activities - Effect of Interest Rate Swaps Designated in Hedging Relationships on Consolidated Statement of Operations (Detail) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Jun. 28, 2025 |
Jun. 29, 2024 |
Jul. 01, 2023 |
|
| Derivative Instruments, Gain (Loss) [Line Items] | |||
| Amount of loss (gain) recognized in OCI, after-tax | $ 1.3 | $ (3.4) | $ (11.5) |
| Amount of gain reclassified from OCI into interest expense, after-tax | 5.9 | 12.0 | 8.1 |
| Total interest expense | 358.4 | 232.2 | 218.0 |
| Cash Flow Hedging [Member] | Derivatives Designated as Hedging Instruments Under ASC 815-20 [Member] | Interest Rate Swaps [Member] | |||
| Derivative Instruments, Gain (Loss) [Line Items] | |||
| Amount of loss (gain) recognized in OCI, pre-tax | 1.8 | (4.5) | (15.4) |
| Tax (benefit) expense | (0.5) | 1.1 | 3.9 |
| Amount of loss (gain) recognized in OCI, after-tax | 1.3 | (3.4) | (11.5) |
| Amount of gain reclassified from OCI into interest expense, pre-tax | 7.9 | 16.1 | 10.8 |
| Tax expense | (2.0) | (4.1) | (2.7) |
| Amount of gain reclassified from OCI into interest expense, after-tax | 5.9 | 12.0 | 8.1 |
| Total interest expense | $ 358.4 | $ 232.2 | $ 218.0 |
Derivatives and Hedging Activities - Summary of Fair Value of Derivative Financial Instruments (Detail) - USD ($) $ in Millions |
Jun. 28, 2025 |
Jun. 29, 2024 |
|---|---|---|
| Derivatives, Fair Value [Line Items] | ||
| Asset Derivatives Fair Value | $ 1.1 | $ 10.2 |
| Liability Derivatives Fair Value | 0.5 | 0.7 |
| Derivatives Designated as Hedging Instruments Under ASC 815-20 [Member] | Interest Rate Swaps [Member] | Prepaid Expenses and Other Current Assets [Member] | ||
| Derivatives, Fair Value [Line Items] | ||
| Asset Derivatives Fair Value | 0.8 | 8.2 |
| Derivatives Designated as Hedging Instruments Under ASC 815-20 [Member] | Interest Rate Swaps [Member] | Other Assets [Member] | ||
| Derivatives, Fair Value [Line Items] | ||
| Asset Derivatives Fair Value | 0.0 | 2.0 |
| Derivatives Designated as Hedging Instruments Under ASC 815-20 [Member] | Interest Rate Swaps [Member] | Other Long-term Liabilities [Member] | ||
| Derivatives, Fair Value [Line Items] | ||
| Liability Derivatives Fair Value | 0.3 | 0.0 |
| Derivatives Not Designated as Hedging Instruments Under ASC 815-20 [Member] | Diesel Fuel Derivative Instruments [Member] | Prepaid Expenses and Other Current Assets [Member] | ||
| Derivatives, Fair Value [Line Items] | ||
| Asset Derivatives Fair Value | 0.1 | 0.0 |
| Derivatives Not Designated as Hedging Instruments Under ASC 815-20 [Member] | Diesel Fuel Derivative Instruments [Member] | Accrued Expenses and Other Current Liabilities [Member] | ||
| Derivatives, Fair Value [Line Items] | ||
| Liability Derivatives Fair Value | 0.2 | 0.6 |
| Derivatives Not Designated as Hedging Instruments Under ASC 815-20 [Member] | Other Derivative Instruments [Member] | Prepaid Expenses and Other Current Assets [Member] | ||
| Derivatives, Fair Value [Line Items] | ||
| Asset Derivatives Fair Value | 0.2 | 0.0 |
| Derivatives Not Designated as Hedging Instruments Under ASC 815-20 [Member] | Other Derivative Instruments [Member] | Accrued Expenses and Other Current Liabilities [Member] | ||
| Derivatives, Fair Value [Line Items] | ||
| Liability Derivatives Fair Value | $ 0.0 | $ 0.1 |
Derivatives and Hedging Activities - Summary of Derivative Assets and Liability Balance by Type of Financial Instrument Before and After Effects of Offsetting (Detail) - USD ($) $ in Millions |
Jun. 28, 2025 |
Jun. 29, 2024 |
|---|---|---|
| Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||
| Gross Amounts Presented in the Consolidated Balance Sheet | $ 1.1 | $ 10.2 |
| Gross Amounts Not Offset in the Consolidated Balance Sheet Subject to Netting Agreements | (0.3) | (0.3) |
| Net Amounts | $ 0.8 | $ 9.9 |
| Derivative Asset, Statement of Financial Position [Extensible Enumeration] | Other Assets, Noncurrent | Other Assets, Noncurrent |
| Gross Amounts Presented in the Consolidated Balance Sheet | $ (0.5) | $ (0.7) |
| Gross Amounts Not Offset in the Consolidated Balance Sheet Subject to Netting Agreements | 0.3 | 0.3 |
| Net Amounts | $ (0.2) | $ (0.4) |
Insurance Program Liabilities - Summary of Activity in All Types of Deductible Insurance Program Liabilities (Detail) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Jun. 28, 2025 |
Jun. 29, 2024 |
Jul. 01, 2023 |
|
| Insurance [Abstract] | |||
| Beginning balance | $ 272.2 | $ 243.1 | $ 227.0 |
| Additional liabilities assumed in connection with an acquisition | 29.6 | ||
| Charged to costs and expenses | 505.7 | 425.0 | 398.7 |
| Payments | (465.5) | (395.9) | (382.6) |
| Ending Balance | $ 342.0 | $ 272.2 | $ 243.1 |
Fair Value of Financial Instruments - Additional Information (Detail) - USD ($) $ in Millions |
Jun. 28, 2025 |
Jun. 29, 2024 |
|---|---|---|
| Fair Value Inputs, Liabilities, Quantitative Information [Line Items] | ||
| Long-Term Debt | $ 5,388.8 | $ 3,198.5 |
| Reported Value Measurement [Member] | ||
| Fair Value Inputs, Liabilities, Quantitative Information [Line Items] | ||
| Long-Term Debt | 5,388.8 | 3,198.5 |
| Fair Value Inputs Level 2 [Member] | ||
| Fair Value Inputs, Liabilities, Quantitative Information [Line Items] | ||
| Fair value of long term debt | $ 5,399.7 | $ 3,104.5 |
Leases - Additional Information (Detail) - USD ($) $ in Millions |
12 Months Ended | |
|---|---|---|
Jun. 28, 2025 |
Jun. 29, 2024 |
|
| Lessee Lease Description [Line Items] | ||
| Operating lease, Option to extend | true | |
| Operating lease, Option to terminate description | options to terminate the leases within 1 year | |
| Operating lease, Option to terminate | true | |
| Finance lease renewal term | 10 years | |
| Finance lease, Option to extend | true | |
| Finance lease, Option to extend description | options to extend the leases for up to 10 years | |
| Finance lease, Option to terminate | true | |
| Undiscounted maximum amount for guarantees | $ 7.5 | |
| Future minimum operating lease and finance lease payments, not yet commenced | $ 46.6 | |
| Minimum [Member] | ||
| Lessee Lease Description [Line Items] | ||
| Finance lease remaining term | 1 year | |
| Percentage of residual value guarantee under operating lease | 6.00% | |
| Operating lease expiration term | 5 years | |
| Operating lease expiration year | 2025 | |
| Maximum [Member] | ||
| Lessee Lease Description [Line Items] | ||
| Finance lease remaining term | 25 years | |
| Percentage of residual value guarantee under operating lease | 20.00% | |
| Operating lease expiration term | 10 years | |
| Operating lease expiration year | 2032 | |
| Warehouse Leases Contractual Term [Member] | ||
| Lessee Lease Description [Line Items] | ||
| Operating leases, not yet commenced, lease term | 10 years | |
| Vehicle Leases Contractual Term [Member] | Minimum [Member] | ||
| Lessee Lease Description [Line Items] | ||
| Operating leases, not yet commenced, lease term | 6 years | |
| Vehicle Leases Contractual Term [Member] | Maximum [Member] | ||
| Lessee Lease Description [Line Items] | ||
| Operating leases, not yet commenced, lease term | 10 years | |
Leases - Summary of Right-of-Use Assets and Lease Liabilities in Consolidated Balance Sheet (Detail) - USD ($) $ in Millions |
Jun. 28, 2025 |
Jun. 29, 2024 |
|---|---|---|
| ASSETS | ||
| Operating Lease, Right-of-Use Asset | $ 933.8 | $ 875.5 |
| Finance | $ 1,614.7 | $ 868.8 |
| Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] | Property, plant and equipment, net | Property, plant and equipment, net |
| Total lease assets | $ 2,548.5 | $ 1,744.3 |
| Current liabilities: | ||
| Operating Lease, Liability, Current | 104.5 | 108.2 |
| Finance Lease, Liability, Current | 221.9 | 147.2 |
| Non-current | ||
| Operating Lease, Liability, Noncurrent | 900.7 | 819.3 |
| Finance Lease, Liability, Noncurrent | 1,379.9 | 703.2 |
| Total lease liabilities | $ 2,607.0 | $ 1,777.9 |
| Weighted average remaining lease term | ||
| Operating leases | 10 years 8 months 12 days | 10 years 8 months 12 days |
| Finance leases | 9 years 9 months 18 days | 6 years |
| Weighted average discount rate | ||
| Operating leases | 5.60% | 5.40% |
| Finance leases | 5.70% | 5.10% |
Leases - Summary of Location of Lease Costs in Consolidated Statement of Operations (Detail) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Jun. 28, 2025 |
Jun. 29, 2024 |
Jul. 01, 2023 |
|
| Finance lease cost: | |||
| Amortization of finance lease assets | $ 186.5 | $ 118.5 | $ 88.4 |
| Interest on lease liabilities | 63.2 | 33.8 | 19.6 |
| Total finance lease cost | 249.7 | 152.3 | 108.0 |
| Operating lease cost | 172.5 | 161.4 | 147.9 |
| Short-term lease cost | 55.7 | 60.2 | 73.7 |
| Total lease cost | $ 477.9 | $ 373.9 | $ 329.6 |
Leases - Summary of Supplemental Cash Flow Information related to Leases (Detail) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Jun. 28, 2025 |
Jun. 29, 2024 |
Jul. 01, 2023 |
|
| Cash paid for amounts included in the measurement of lease liabilities: | |||
| Operating cash flows from operating leases | $ 158.1 | $ 147.3 | $ 135.7 |
| Operating cash flows from finance leases | 63.2 | 33.8 | 19.6 |
| Financing cash flows from finance leases | 188.0 | 122.2 | 88.5 |
| Right-of-use assets obtained in exchange for lease obligations: | |||
| Operating leases | 175.7 | 290.6 | 201.3 |
| Finance leases | $ 842.0 | $ 412.4 | $ 191.8 |
Leases - Summary of Future Minimum Lease Payments Under Non-Cancelable Leases (Detail) $ in Millions |
Jun. 28, 2025
USD ($)
|
|---|---|
| Operating Leases | |
| 2025 | $ 157.6 |
| 2026 | 150.4 |
| 2027 | 139.7 |
| 2028 | 125.5 |
| 2029 | 113.4 |
| Thereafter | 705.9 |
| Total future minimum lease payments | 1,392.5 |
| Less: Interest | 387.3 |
| Operating Lease, Liability | 1,005.2 |
| Finance Leases | |
| 2025 | 306.6 |
| 2026 | 290.1 |
| 2027 | 261.6 |
| 2028 | 237.5 |
| 2029 | 209.9 |
| Thereafter | 933.0 |
| Total future minimum lease payments | 2,238.7 |
| Less: Interest | 636.9 |
| Present value of future minimum lease payments | $ 1,601.8 |
Income Taxes - Schedule of Income Tax Expense (Detail) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Jun. 28, 2025 |
Jun. 29, 2024 |
Jul. 01, 2023 |
|
| Current income tax expense (benefit) : | |||
| Federal | $ 79.2 | $ 109.2 | $ 95.3 |
| State | 27.9 | 36.2 | 28.8 |
| Foreign | 11.7 | 4.8 | 2.7 |
| Total current income tax expense (benefit) | 118.8 | 150.2 | 126.8 |
| Deferred income tax expense (benefit): | |||
| Federal | 10.5 | 10.3 | 17.8 |
| State | 2.6 | 0.2 | 2.3 |
| Foreign | (13.3) | 0.2 | (0.1) |
| Total deferred income tax expense | (0.2) | 10.7 | 20.0 |
| Total income tax expense (benefit), net | $ 118.6 | $ 160.9 | $ 146.8 |
Income Taxes - Additional Information (Detail) |
12 Months Ended | ||
|---|---|---|---|
Jun. 28, 2025 |
Jun. 29, 2024 |
Jul. 01, 2023 |
|
| Income Tax Contingency [Line Items] | |||
| U.S. federal corporate income tax rate | 21.00% | 21.00% | 21.00% |
| Effective income tax rate | 25.80% | 27.00% | 27.00% |
Income Taxes - Schedule Effective Income Tax Rate from Continuing Operation (Detail) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Jun. 28, 2025 |
Jun. 29, 2024 |
Jul. 01, 2023 |
|
| Effective Income Tax Rate Reconciliation, Amount [Abstract] | |||
| Federal income tax expense computed at statutory rate | $ 96.3 | $ 125.3 | $ 114.2 |
| State income taxes, net of federal income tax benefit | 27.3 | 30.0 | 26.6 |
| Non-deductible expenses and other | 15.3 | 10.9 | 6.9 |
| Valuation allowance | 7.5 | (0.6) | (0.5) |
| Foreign taxes | 4.3 | 5.2 | 2.5 |
| Tax credits | (18.9) | (5.8) | (1.9) |
| Stock-based compensation | (13.7) | (4.5) | (1.2) |
| Other | 0.5 | 0.4 | 0.2 |
| Total income tax expense (benefit), net | $ 118.6 | $ 160.9 | $ 146.8 |
Income Taxes - Schedule of Significant Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Millions |
Jun. 28, 2025 |
Jun. 29, 2024 |
|---|---|---|
| Deferred tax assets: | ||
| Lease obligations | $ 151.5 | $ 126.5 |
| Accrued employee benefits | 20.1 | 15.7 |
| Other assets, including interest expense limitation | 21.6 | 7.3 |
| Allowance for doubtful accounts | 13.5 | 8.9 |
| Tax credit carry-forwards | 9.8 | 2.7 |
| Stock-based compensation | 7.5 | 7.5 |
| Net operating loss carry-forwards | 7.2 | 9.8 |
| Insurance reserves | 7.1 | 5.6 |
| Other comprehensive income | 0.9 | 0.0 |
| Total gross deferred tax assets | 239.2 | 184.0 |
| Less: Valuation allowance | (11.8) | (1.7) |
| Total net deferred tax assets | 227.4 | 182.3 |
| Deferred tax liabilities: | ||
| Property, plant, and equipment | 502.5 | 347.8 |
| Basis difference in intangible assets | 339.0 | 118.3 |
| Right of use assets | 144.4 | 122.0 |
| Inventories | 101.9 | 68.5 |
| Prepaid expenses | 24.0 | 20.6 |
| Other comprehensive income | 0.0 | 1.5 |
| Other liabilities | 2.7 | 1.5 |
| Total deferred tax liabilities | 1,114.5 | 680.2 |
| Total net deferred income tax liability | $ 887.1 | $ 497.9 |
Retirement Plans - Additional Information (Detail) - 401 (k) Plan [Member] - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Jun. 28, 2025 |
Jun. 29, 2024 |
Jul. 01, 2023 |
|
| Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
| Employees participating for internal revenue code, maximum | 50.00% | ||
| Employees participating for internal revenue code, minimum | 1.00% | ||
| Employees matching contribution | 100.00% | ||
| Employees first contribution | 3.50% | ||
| Retirement contribution | $ 58.1 | $ 52.7 | $ 52.0 |
Commitments and Contingencies - Additional Information (Detail) $ in Millions |
Jun. 28, 2025
USD ($)
|
|---|---|
| Commitments And Contingencies [Line Items] | |
| Outstanding contracts and purchase orders for capital projects and services | $ 276.8 |
Related-Party Transactions - Additional Information (Detail) - Purchasing Alliance [Member] - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Jun. 28, 2025 |
Jun. 29, 2024 |
Jul. 01, 2023 |
|
| Related Party Transaction [Line Items] | |||
| Equity method investments | $ 13.3 | $ 11.8 | |
| Purchases from related party | $ 2,539.9 | $ 2,193.7 | $ 2,006.2 |
Earnings Per Common Share - Additional Information (Detail) - shares shares in Millions |
12 Months Ended | ||
|---|---|---|---|
Jun. 28, 2025 |
Jun. 29, 2024 |
Jul. 01, 2023 |
|
| Earnings Per Share [Abstract] | |||
| Potential common shares not included in computing diluted earnings per common share due to antidilutive effect | 0.1 | 0.1 | 0.0 |
Earnings Per Common Share - Schedule of Reconciliation of Numerators and Denominators for Basic and Diluted Earnings Per Common Share Computations (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Jun. 28, 2025 |
Jun. 29, 2024 |
Jul. 01, 2023 |
|
| Numerator: | |||
| Net Income (Loss) | $ 340.2 | $ 435.9 | $ 397.2 |
| Denominator: | |||
| Weighted-average common shares outstanding | 154.8 | 154.4 | 154.2 |
| Dilutive effect of potential common shares | 1.6 | 1.6 | 1.9 |
| Weighted-average dilutive common shares outstanding | 156.4 | 156.0 | 156.1 |
| Basic earnings per common share | $ 2.2 | $ 2.82 | $ 2.58 |
| Diluted earnings per common share | $ 2.18 | $ 2.79 | $ 2.54 |
Stock-based Compensation - Additional Information (Detail) |
1 Months Ended | 9 Months Ended | 12 Months Ended | |||
|---|---|---|---|---|---|---|
|
Nov. 30, 2024
shares
|
Apr. 02, 2022 |
Jun. 28, 2025
USD ($)
Tranche
$ / shares
shares
|
Jun. 29, 2024
USD ($)
shares
|
Jul. 01, 2023
USD ($)
shares
|
Jul. 03, 2021
USD ($)
|
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
| Stock-based compensation expense | $ (47,800,000) | $ (41,900,000) | $ (43,300,000) | |||
| Stock compensation expense | $ 47,800,000 | $ 41,900,000 | 43,400,000 | |||
| Number of shares of common stock available for awards | shares | 1,000,000,000 | 1,000,000,000 | ||||
| Dividend Yield | 0.00% | |||||
| Income tax benefit | $ (118,600,000) | $ (160,900,000) | (146,800,000) | |||
| 2007 Option Plan [Member] | ||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
| Contractual term of options granted | 10 years | |||||
| Number of Tranches | Tranche | 3 | |||||
| Intrinsic value of exercised options | $ 23,300,000 | $ 4,300,000 | $ 3,600,000 | |||
| 2007 Option Plan [Member] | Minimum [Member] | ||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
| Stock compensation expense | $ 100,000 | |||||
| 2015 Incentive Plan [Member] | ||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
| Contractual term of options granted | 10 years | |||||
| Options approved for grant | shares | 0 | 0 | 0 | |||
| Stock compensation expense | $ 40,200,000 | $ 36,000,000 | $ 34,400,000 | |||
| Intrinsic value of exercised options | 10,400,000 | 600,000 | 1,800,000 | |||
| Income tax benefit | (11,300,000) | (9,700,000) | (9,300,000) | |||
| Unrecognized compensation cost | $ 44,800,000 | |||||
| Compensation expense, period for recognition | 1 year 8 months 12 days | |||||
| Fair value of shares vested | $ 56,300,000 | 60,200,000 | 32,000,000 | |||
| Granted | shares | 550,382 | |||||
| Fair Value of Awards Granted | $ / shares | $ 78.12 | |||||
| 2015 Incentive Plan [Member] | Performance-based Restricted Shares [Member] | ||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
| Requisite service period | 3 years | |||||
| 2015 Incentive Plan [Member] | Performance relative to the ROIC and Relative TSR goals | Minimum [Member] | Performance-based Restricted Shares [Member] | ||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
| Share-based Compensation arrangement by Share-based payment award, annual award vesting rights | 0.00% | |||||
| 2015 Incentive Plan [Member] | Performance relative to the ROIC and Relative TSR goals | Maximum [Member] | Performance-based Restricted Shares [Member] | ||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
| Share-based Compensation arrangement by Share-based payment award, annual award vesting rights | 200.00% | |||||
| 2024 Incentive Plan [Member] | ||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
| Stock compensation expense | $ 200,000 | |||||
| Additional shares authorized | shares | 4,200,000 | |||||
| Number of shares of common stock available for awards | shares | 6,926,217 | |||||
| Number of shares available for grant | shares | 6,910,924 | |||||
| Unrecognized compensation cost | $ 1,100,000 | |||||
| Compensation expense, period for recognition | 2 years 7 months 6 days | |||||
| Granted | shares | 15,293 | |||||
| Fair Value of Awards Granted | $ / shares | $ 85.64 | |||||
| 2024 Incentive Plan [Member] | Time-based restricted shares | ||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
| Vesting period from grant date | 3 years | |||||
| Number of shares available for grant | shares | 0 | |||||
| 2024 Incentive Plan [Member] | Performance-based Restricted Shares [Member] | ||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
| Number of shares available for grant | shares | 0 | |||||
| 2024 Incentive Plan [Member] | Maximum [Member] | ||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
| Income tax benefit | $ (100,000) | |||||
| Employee Stock Purchase Plan [Member] | ||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
| Discount on purchases of common stock | 15.00% | |||||
| Stock-based compensation expense | $ 7,300,000 | $ 4,500,000 | $ 4,200,000 | |||
| Common stock reserved for issuance | shares | 5,000,000 | |||||
| Number of shares available for grant | shares | 2,676,201 | |||||
Stock-based Compensation - Summary of Stock Option Activity (Detail) - USD ($) $ / shares in Units, $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Jun. 28, 2025 |
Jun. 29, 2024 |
Jul. 01, 2023 |
|
| 2007 Option Plan [Member] | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Number of Options, Outstanding, Beginning Balance | 501,602 | ||
| Number of Options, Exercised | (360,258) | ||
| Number of Options, Outstanding, Ending Balance | 141,344 | 501,602 | |
| Number of Options, Vested or expected to vest | 141,344 | ||
| Number of Options, Exercisable | 141,344 | ||
| Weighted Average Exercise Price, Beginning balance | $ 19.2 | ||
| Weighted Average Exercise Price, Exercised | 19.14 | ||
| Weighted Average Exercise Price, Ending balance | 19.38 | $ 19.2 | |
| Weighted Average Exercise Price, Vested or expected to vest | 19.38 | ||
| Weighted Average Exercise Price, Exercisable | $ 19.38 | ||
| Weighted Average Remaining Contractual Term, outstanding, at end of period | 3 months 18 days | ||
| Weighted Average Remaining Contractual Term, vested or expected to vest | 3 months 18 days | ||
| Weighted Average Remaining Contractual Term, exercisable | 3 months 18 days | ||
| Aggregate Intrinsic Value, Outstanding | $ 9.6 | ||
| Aggregate Intrinsic Value, Vested or expected | 9.6 | ||
| Aggregate Intrinsic Value, Exercisable | $ 9.6 | ||
| 2015 Incentive Plan [Member] | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Number of Options, Outstanding, Beginning Balance | 643,424 | ||
| Number of Options, Granted | 0 | 0 | 0 |
| Number of Options, Exercised | (172,390) | ||
| Number of Options, Outstanding, Ending Balance | 471,034 | 643,424 | |
| Number of Options, Vested or expected to vest | 471,034 | ||
| Number of Options, Exercisable | 471,034 | ||
| Weighted Average Exercise Price, Beginning balance | $ 27.51 | ||
| Weighted Average Exercise Price, Exercised | 24.21 | ||
| Weighted Average Exercise Price, Ending balance | 28.72 | $ 27.51 | |
| Weighted Average Exercise Price, Vested or expected to vest | 28.72 | ||
| Weighted Average Exercise Price, Exercisable | $ 28.72 | ||
| Weighted Average Remaining Contractual Term, outstanding, at end of period | 2 years | ||
| Weighted Average Remaining Contractual Term, vested or expected to vest | 2 years | ||
| Weighted Average Remaining Contractual Term, exercisable | 2 years | ||
| Aggregate Intrinsic Value, Outstanding | $ 27.7 | ||
| Aggregate Intrinsic Value, Vested or expected | 27.7 | ||
| Aggregate Intrinsic Value, Exercisable | $ 27.7 | ||
Stock-based Compensation - Summary of Weighted Average Assumptions (Detail) - $ / shares |
12 Months Ended | ||
|---|---|---|---|
Jun. 28, 2025 |
Jun. 29, 2024 |
Jul. 01, 2023 |
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Dividend Yield | 0.00% | ||
| 2015 Incentive Plan [Member] | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Fair Value of Awards Granted | $ 78.12 | ||
| Performance-based Restricted Shares [Member] | Monte Carlo Simulation | 2015 Incentive Plan [Member] | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Risk-Free Interest Rate | 3.76% | 4.66% | 3.31% |
| Dividend Yield | 0.00% | 0.00% | 0.00% |
| Expected Volatility | 34.24% | 41.47% | 75.45% |
| Expected Term (in years) | 2 years 10 months 13 days | 2 years 10 months 6 days | 2 years 10 months 2 days |
| Fair Value of Awards Granted | $ 94.74 | $ 75.25 | $ 68.06 |
Stock-based Compensation - Summary of Changes in Nonvested Restricted Shares and Restricted Stock Units (Detail) |
12 Months Ended |
|---|---|
|
Jun. 28, 2025
$ / shares
shares
| |
| 2015 Incentive Plan [Member] | |
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
| Number of Nonvested Restricted Shares, Beginning Balance | shares | 1,406,532 |
| Granted | shares | 550,382 |
| Vested | shares | (749,495) |
| Forfeited | shares | (44,286) |
| Number of Nonvested Restricted Shares, Ending Balance | shares | 1,268,361 |
| Weighted Average Grant Date Fair Value, Beginning Balance | $ / shares | $ 57.95 |
| Fair Value of Awards Granted | $ / shares | 78.12 |
| Vested | $ / shares | 56.05 |
| Forfeited | $ / shares | 66.10 |
| Weighted Average Grant Date Fair Value, Ending Balance | $ / shares | $ 69.38 |
| 2015 Incentive Plan [Member] | Performance Shares | |
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
| Performance shares adjustment | shares | 105,228 |
| Weighted Average Grant Date Fair Value, Ending Balance | $ / shares | $ 62.34 |
| 2024 Incentive Plan [Member] | |
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
| Number of Nonvested Restricted Shares, Beginning Balance | shares | 0 |
| Granted | shares | 15,293 |
| Number of Nonvested Restricted Shares, Ending Balance | shares | 15,293 |
| Weighted Average Grant Date Fair Value, Beginning Balance | $ / shares | $ 0 |
| Fair Value of Awards Granted | $ / shares | 85.64 |
| Weighted Average Grant Date Fair Value, Ending Balance | $ / shares | $ 85.64 |
Segment Information - Additional Information (Detail) - Segment |
12 Months Ended | ||
|---|---|---|---|
Jun. 28, 2025 |
Jun. 29, 2024 |
Jul. 01, 2023 |
|
| Segment Reporting Information [Line Items] | |||
| Number of reportable segments | 3 | ||
| Segment Reporting, CODM, Profit (Loss) Measure, How Used, Description | The Company’s CODM, our Chief Executive Officer, utilizes total sales and Segment Adjusted EBITDA, which is the Company’s GAAP measure of segment profit, to evaluate each operating segment’s financial performance and make decisions about resource allocation. Segment Adjusted EBITDA is defined as net income before interest expense, interest income, income taxes, depreciation, and amortization and excludes certain items that the Company does not consider part of its segments’ core operating results, including stock-based compensation expense, changes in the LIFO reserve, acquisition, integration and reorganization expenses, and gains and losses related to fuel derivatives. The CODM reviews budget-to-actual and year-over-year variances for net sales and Segment Adjusted EBITDA each month when assessing segment performance and making decisions about allocating resources to the segments. | ||
| Segment Reporting, CODM, Individual Title and Position or Group Name [Extensible Enumeration] | srt:ChiefExecutiveOfficerMember | ||
| Consolidated Net Sales [Member] | Customer Concentration Risk [Member] | Cigarettes [Member] | |||
| Segment Reporting Information [Line Items] | |||
| Concentration risk percentage | 23.00% | 24.70% | 26.00% |
| Cost Of Goods Total Member | Significant Suppliers Member | Product Concentration Risk Member | |||
| Segment Reporting Information [Line Items] | |||
| Concentration risk percentage | 20.40% | 22.40% | 23.10% |
Segment Information - Schedule of Segment Reporting Information, by Segment (Detail) - USD ($) $ in Millions |
12 Months Ended | ||||||||
|---|---|---|---|---|---|---|---|---|---|
Jun. 28, 2025 |
Jun. 29, 2024 |
Jul. 01, 2023 |
|||||||
| Segment Reporting Information [Line Items] | |||||||||
| Net sales | $ 63,298.9 | $ 58,281.2 | $ 57,254.7 | ||||||
| Depreciation and amortization | 717.9 | 556.7 | 496.7 | ||||||
| Segment cost of goods sold | 55,882.3 | 51,704.1 | 50,999.8 | ||||||
| Segment operating expenses | 6,600.3 | 5,750.7 | 5,489.1 | ||||||
| Segment other (income) expense, net | (357.5) | (229.6) | (221.8) | ||||||
| Capital expenditures | 506.0 | 395.6 | 269.7 | ||||||
| Foodservice [Member] | |||||||||
| Segment Reporting Information [Line Items] | |||||||||
| Net sales | 33,629.5 | 29,045.7 | 28,509.3 | ||||||
| Depreciation and amortization | 448.5 | 294.4 | 280.7 | ||||||
| Segment cost of goods sold | [1] | 28,742.6 | 24,963.6 | 24,635.7 | |||||
| Segment operating expenses | [2] | 3,683.5 | 3,116.6 | 2,967.9 | |||||
| Segment other (income) expense, net | [3] | (1.6) | (0.9) | (0.6) | |||||
| Segment Adjusted EBITDA | 1,221.6 | 982.2 | 924.5 | ||||||
| Capital expenditures | 382.7 | 260.1 | 191.8 | ||||||
| Convenience [Member] | |||||||||
| Segment Reporting Information [Line Items] | |||||||||
| Net sales | 24,507.1 | 24,176.9 | 24,119.5 | ||||||
| Depreciation and amortization | 157.7 | 153.5 | 148.0 | ||||||
| Segment cost of goods sold | [1] | 22,847.3 | 22,584.9 | 22,526.5 | |||||
| Segment operating expenses | [2] | 1,254.0 | 1,231.2 | 1,266.5 | |||||
| Segment other (income) expense, net | [3] | (1.1) | (2.7) | (2.2) | |||||
| Segment Adjusted EBITDA | 407.3 | 363.6 | 328.8 | ||||||
| Capital expenditures | 59.0 | 43.7 | 46.3 | ||||||
| Specialty [Member] | |||||||||
| Segment Reporting Information [Line Items] | |||||||||
| Net sales | 4,900.8 | 4,786.1 | 4,546.3 | ||||||
| Depreciation and amortization | 54.6 | 49.9 | 42.1 | ||||||
| Segment cost of goods sold | [1] | 4,024.2 | 3,941.6 | 3,762.1 | |||||
| Segment operating expenses | [2] | 532.4 | 507.0 | 462.3 | |||||
| Segment other (income) expense, net | [3] | 0.2 | 0.6 | (0.4) | |||||
| Segment Adjusted EBITDA | 348.2 | 340.6 | 325.3 | ||||||
| Capital expenditures | 33.3 | 53.8 | 18.0 | ||||||
| Corporate & All Other [Member] | |||||||||
| Segment Reporting Information [Line Items] | |||||||||
| Net sales | 261.5 | 272.5 | 79.6 | ||||||
| Depreciation and amortization | 57.1 | 58.9 | 25.9 | ||||||
| Segment Adjusted EBITDA | (210.2) | (180.3) | (215.2) | ||||||
| Capital expenditures | 31.0 | 38.0 | 13.6 | ||||||
| Eliminations [Member] | |||||||||
| Segment Reporting Information [Line Items] | |||||||||
| Net sales | (714.7) | (656.3) | (605.2) | ||||||
| Eliminations [Member] | Foodservice [Member] | |||||||||
| Segment Reporting Information [Line Items] | |||||||||
| Net sales | 16.6 | 15.8 | 18.2 | ||||||
| Eliminations [Member] | Convenience [Member] | |||||||||
| Segment Reporting Information [Line Items] | |||||||||
| Net sales | 0.4 | 0.1 | 0.1 | ||||||
| Eliminations [Member] | Specialty [Member] | |||||||||
| Segment Reporting Information [Line Items] | |||||||||
| Net sales | 4.2 | 3.7 | 3.0 | ||||||
| Eliminations [Member] | Corporate & All Other [Member] | |||||||||
| Segment Reporting Information [Line Items] | |||||||||
| Net sales | 693.5 | 636.7 | 583.9 | ||||||
| Operating Segments [Member] | Foodservice [Member] | |||||||||
| Segment Reporting Information [Line Items] | |||||||||
| Net sales | 33,646.1 | 29,061.5 | 28,527.5 | ||||||
| Operating Segments [Member] | Convenience [Member] | |||||||||
| Segment Reporting Information [Line Items] | |||||||||
| Net sales | 24,507.5 | 24,177.0 | 24,119.6 | ||||||
| Operating Segments [Member] | Specialty [Member] | |||||||||
| Segment Reporting Information [Line Items] | |||||||||
| Net sales | 4,905.0 | 4,789.8 | 4,549.3 | ||||||
| Operating Segments [Member] | Corporate & All Other [Member] | |||||||||
| Segment Reporting Information [Line Items] | |||||||||
| Net sales | $ 955.0 | $ 909.2 | $ 663.5 | ||||||
| |||||||||
Segment Information - Schedule of Adjusted EBDITA and Reconciliation to Consolidated Income Before Taxes (Detail) - USD ($) $ in Millions |
12 Months Ended | ||||
|---|---|---|---|---|---|
Jun. 28, 2025 |
Jun. 29, 2024 |
Jul. 01, 2023 |
|||
| Segment Reporting Information [Line Items] | |||||
| Depreciation and amortization | $ (717.9) | $ (556.7) | $ (496.7) | ||
| Interest expense | (358.4) | (232.2) | (218.0) | ||
| Change in LIFO reserve | (88.1) | (62.3) | (39.2) | ||
| Stock-based compensation expense | (47.8) | (41.9) | (43.3) | ||
| (Loss) gain on fuel derivatives | (0.2) | 1.8 | (5.7) | ||
| Acquisition, integration & reorganization expenses | (87.8) | (23.7) | (10.6) | ||
| Other adjustments | [1] | (7.9) | 5.7 | (5.9) | |
| Income before taxes | 458.8 | 596.8 | 544.0 | ||
| Foodservice [Member] | |||||
| Segment Reporting Information [Line Items] | |||||
| Adjusted EBITDA | 1,221.6 | 982.2 | 924.5 | ||
| Depreciation and amortization | (448.5) | (294.4) | (280.7) | ||
| Convenience [Member] | |||||
| Segment Reporting Information [Line Items] | |||||
| Adjusted EBITDA | 407.3 | 363.6 | 328.8 | ||
| Depreciation and amortization | (157.7) | (153.5) | (148.0) | ||
| Specialty [Member] | |||||
| Segment Reporting Information [Line Items] | |||||
| Adjusted EBITDA | 348.2 | 340.6 | 325.3 | ||
| Depreciation and amortization | (54.6) | (49.9) | (42.1) | ||
| Corporate & All Other [Member] | |||||
| Segment Reporting Information [Line Items] | |||||
| Adjusted EBITDA | (210.2) | (180.3) | (215.2) | ||
| Depreciation and amortization | $ (57.1) | $ (58.9) | $ (25.9) | ||
| |||||
Segment Information - Summary Assets by Reportable Segment and Reconciling Items for Corporate & All Other Excluding Intercompany Receivables (Detail) - USD ($) $ in Millions |
Jun. 28, 2025 |
Jun. 29, 2024 |
|---|---|---|
| Segment Reporting Information [Line Items] | ||
| Total assets | $ 17,881.2 | $ 13,392.9 |
| Foodservice [Member] | ||
| Segment Reporting Information [Line Items] | ||
| Total assets | 11,271.1 | 7,052.4 |
| Convenience [Member] | ||
| Segment Reporting Information [Line Items] | ||
| Total assets | 4,276.8 | 4,080.9 |
| Specialty [Member] | ||
| Segment Reporting Information [Line Items] | ||
| Total assets | 1,586.9 | 1,519.1 |
| Corporate & All Other [Member] | ||
| Segment Reporting Information [Line Items] | ||
| Total assets | $ 746.4 | $ 740.5 |
Segment Information - Summary Sales Mix for Principal Product and Service Categories (Detail) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Jun. 28, 2025 |
Jun. 29, 2024 |
Jul. 01, 2023 |
|
| Segment Reporting Information [Line Items] | |||
| Total sales | $ 63,298.9 | $ 58,281.2 | $ 57,254.7 |
| Cigarettes [Member] | |||
| Segment Reporting Information [Line Items] | |||
| Total sales | 14,529.5 | 14,390.8 | 14,902.7 |
| Center of the Plate [Member] | |||
| Segment Reporting Information [Line Items] | |||
| Total sales | 13,157.4 | 11,509.8 | 11,285.7 |
| Canned and Dry Groceries [Member] | |||
| Segment Reporting Information [Line Items] | |||
| Total sales | 6,067.2 | 5,631.1 | 5,537.4 |
| Frozen Foods [Member] | |||
| Segment Reporting Information [Line Items] | |||
| Total sales | 6,571.0 | 5,564.9 | 4,989.2 |
| Candy/Snack/Theater and Concession [Member] | |||
| Segment Reporting Information [Line Items] | |||
| Total sales | 5,371.9 | 5,211.4 | 4,986.9 |
| Refrigerated and Dairy Products [Member] | |||
| Segment Reporting Information [Line Items] | |||
| Total sales | 5,154.5 | 4,441.3 | 4,557.4 |
| Paper Products and Cleaning Supplies [Member] | |||
| Segment Reporting Information [Line Items] | |||
| Total sales | 3,570.4 | 3,209.6 | 3,189.3 |
| Beverage [Member] | |||
| Segment Reporting Information [Line Items] | |||
| Total sales | 3,492.3 | 3,053.2 | 2,823.3 |
| Other Tobacco Products [Member] | |||
| Segment Reporting Information [Line Items] | |||
| Total sales | 3,424.0 | 2,857.9 | 2,978.8 |
| Produce [Member] | |||
| Segment Reporting Information [Line Items] | |||
| Total sales | 1,429.3 | 1,346.3 | 1,336.8 |
| Other Miscellaneous Goods and Services [Member] | |||
| Segment Reporting Information [Line Items] | |||
| Total sales | $ 531.4 | $ 1,064.9 | $ 667.2 |
Schedule 1 - Registrant's Condensed Financial Statements - Condensed Balance Sheets (Detail) - USD ($) $ in Millions |
Jun. 28, 2025 |
Jun. 29, 2024 |
Jul. 01, 2023 |
Jul. 02, 2022 |
|---|---|---|---|---|
| ASSETS | ||||
| Total assets | $ 17,881.2 | $ 13,392.9 | ||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||
| Total liabilities | 13,408.8 | 9,266.0 | ||
| Commitments and contingencies | ||||
| Shareholders’ equity: | ||||
| Common Stock: $0.01 par value per share, 1.0 billion shares authorized, 154.9 million shares issued and outstanding as of June 28, 2025; 154.2 million shares issued and outstanding as of June 29, 2024 | 1.5 | 1.5 | ||
| Additional paid-in capital | 2,831.0 | 2,818.5 | ||
| Retained earnings | 1,643.1 | 1,302.9 | ||
| Total shareholders’ equity | 4,472.4 | 4,126.9 | $ 3,745.5 | $ 3,299.5 |
| Total liabilities and shareholders’ equity | 17,881.2 | 13,392.9 | ||
| Parent Company [Member] | ||||
| ASSETS | ||||
| Investment in wholly owned subsidiary | 4,582.2 | 4,227.9 | ||
| Total assets | 4,582.2 | 4,227.9 | ||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||
| Intercompany payable | 109.8 | 101.0 | ||
| Total liabilities | 109.8 | 101.0 | ||
| Commitments and contingencies | ||||
| Shareholders’ equity: | ||||
| Common Stock: $0.01 par value per share, 1.0 billion shares authorized, 154.9 million shares issued and outstanding as of June 28, 2025; 154.2 million shares issued and outstanding as of June 29, 2024 | 1.5 | 1.5 | ||
| Additional paid-in capital | 2,831.0 | 2,818.5 | ||
| Retained earnings | 1,639.9 | 1,306.9 | ||
| Total shareholders’ equity | 4,472.4 | 4,126.9 | ||
| Total liabilities and shareholders’ equity | $ 4,582.2 | $ 4,227.9 |
Schedule 1 - Registrant's Condensed Financial Statements - Condensed Balance Sheets (Parenthetical) (Detail) - $ / shares |
Jun. 28, 2025 |
Jun. 29, 2024 |
|---|---|---|
| Condensed Balance Sheet Statements Captions [Line Items] | ||
| Common stock, par value | $ 0.01 | $ 0.01 |
| Common stock, shares authorized | 1,000,000,000 | 1,000,000,000 |
| Common stock, shares issued | 154,900,000 | 154,200,000 |
| Common stock, shares outstanding | 154,900,000 | 154,200,000 |
| Parent Company [Member] | ||
| Condensed Balance Sheet Statements Captions [Line Items] | ||
| Common stock, par value | $ 0.01 | $ 0.01 |
| Common stock, shares authorized | 1,000,000,000.0 | 1,000,000,000.0 |
| Common stock, shares issued | 154,900,000 | 154,200,000 |
| Common stock, shares outstanding | 154,900,000 | 154,200,000 |
Schedule 1 - Registrant's Condensed Financial Statements - Condensed Statements of Operations and Comprehensive Income (Detail) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Jun. 28, 2025 |
Jun. 29, 2024 |
Jul. 01, 2023 |
|
| Condensed Statement Of Income Captions [Line Items] | |||
| Operating expenses | $ 6,600.3 | $ 5,750.7 | $ 5,489.1 |
| Operating profit | 816.3 | 826.4 | 765.8 |
| Net income | 340.2 | 435.9 | 397.2 |
| Other comprehensive (loss) income | (7.2) | (10.0) | 2.6 |
| Total comprehensive income | 333.0 | 425.9 | 399.8 |
| Parent Company [Member] | |||
| Condensed Statement Of Income Captions [Line Items] | |||
| Operating expenses | 1.1 | 0.9 | 0.8 |
| Operating profit | (1.1) | (0.9) | (0.8) |
| Loss before equity in net income of subsidiary | (1.1) | (0.9) | (0.8) |
| Equity in net income of subsidiary, net of tax | 341.3 | 436.8 | 398.0 |
| Net income | 340.2 | 435.9 | 397.2 |
| Other comprehensive (loss) income | (7.2) | (10.0) | 2.6 |
| Total comprehensive income | $ 333.0 | $ 425.9 | $ 399.8 |
Schedule 1 - Registrant's Condensed Financial Statements - Condensed Statements of Cash Flows (Detail) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Jun. 28, 2025 |
Jun. 29, 2024 |
Jul. 01, 2023 |
|
| Cash flows from operating activities: | |||
| Net income | $ 340.2 | $ 435.9 | $ 397.2 |
| Changes in operating assets and liabilities, net | |||
| Accrued expenses and other liabilities | 57.3 | 75.9 | 8.8 |
| Net cash provided by operating activities | 1,210.1 | 1,163.0 | 832.1 |
| Cash flows from investing activities: | |||
| Net cash used in investing activities | (3,089.0) | (682.7) | (294.6) |
| Cash flows from financing activities: | |||
| Proceeds from exercise of stock options | 11.1 | 2.2 | 3.1 |
| Proceeds from employee stock purchase plan | 32.7 | 15.5 | 27.7 |
| Cash paid for shares withheld to cover taxes | (18.8) | (21.5) | (12.6) |
| Repurchases of common stock | (57.6) | (78.1) | (11.2) |
| Net cash provided by (used in) financing activities | 1,937.9 | (472.6) | (536.2) |
| Net increase in cash and restricted cash | 59.0 | 7.7 | 1.3 |
| Parent Company [Member] | |||
| Cash flows from operating activities: | |||
| Net income | 340.2 | 435.9 | 397.2 |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities | |||
| Equity in net income of subsidiary | (341.3) | (436.8) | (398.0) |
| Changes in operating assets and liabilities, net | |||
| Accrued expenses and other liabilities | 0.0 | 0.0 | 0.4 |
| Intercompany payables | 8.8 | 20.2 | 9.9 |
| Net cash provided by operating activities | 7.7 | 19.3 | 9.5 |
| Cash flows from investing activities: | |||
| Capital contribution to subsidiary | (32.7) | (15.5) | (27.7) |
| Distribution from subsidiary | 57.6 | 78.1 | 11.2 |
| Net cash used in investing activities | 24.9 | 62.6 | (16.5) |
| Cash flows from financing activities: | |||
| Proceeds from exercise of stock options | 11.1 | 2.2 | 3.1 |
| Proceeds from employee stock purchase plan | 32.7 | 15.5 | 27.7 |
| Cash paid for shares withheld to cover taxes | (18.8) | (21.5) | (12.6) |
| Repurchases of common stock | (57.6) | (78.1) | (11.2) |
| Net cash provided by (used in) financing activities | (32.6) | (81.9) | 7.0 |
| Net increase in cash and restricted cash | 0.0 | 0.0 | 0.0 |
| Cash and restricted cash, beginning of period | 0.0 | 0.0 | 0.0 |
| Cash and restricted cash, end of period | $ 0.0 | $ 0.0 | $ 0.0 |
Schedule 1 - Registrant's Condensed Financial Statements - Description of Performance Food Group Company - Additional Information (Detail) |
12 Months Ended |
|---|---|
Jun. 28, 2025 | |
| Parent Company [Member] | |
| Condensed Financial Statements, Captions [Line Items] | |
| Date of incorporation | Jul. 23, 2002 |