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Us Foods Holding Corp. (USFD) SEC Filing 10-Q Quarterly report for the period ending Saturday, March 28, 2020

SEC Filings

USFD Quarterly Reports

Us Foods Holding Corp.

CIK: 1665918 Ticker: USFD

Exhibit 99.1

 

LOGO

 

INVESTOR CONTACT:

   MEDIA CONTACT:

Melissa Napier

   Sara Matheu

(847) 720-2767

   (847) 720-2392

Melissa.Napier@usfoods.com

   Sara.Matheu@usfoods.com

US FOODS ANNOUNCES PRIVATE OFFERING OF $800 MILLION OF

SENIOR SECURED NOTES

ROSEMONT, Ill. – (BUSINESS WIRE) April 22, 2020US Foods Holding Corp. (NYSE: USFD) today announced the commencement of a private offering (the “Offering”) of $800 million aggregate principal amount of senior secured notes due 2025 (the “Notes”) by its direct, wholly-owned subsidiary, US Foods, Inc. (“US Foods”), subject to market and other conditions.

US Foods intends to use the net proceeds of the Offering for general corporate purposes, including to repay $400 million of senior secured term loans it intends to borrow on April 24, 2020 to fund a portion of the purchase price for the previously announced acquisition of Smart Stores Holdings Corp.

The Notes and the guarantees thereof will be offered in a private offering exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”). The Notes and the guarantees thereof will be offered only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act and to non-U.S. persons outside the United States in reliance on Regulation S under the Securities Act.

The Notes and the guarantees thereof have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state laws.

This press release does not constitute an offer to sell, or the solicitation of an offer to buy, the Notes, nor shall there be any sale of the Notes in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. No assurance can be made that the Offering will be consummated on its proposed terms or at all.

Forward-Looking Statements

Statements in this press release which are not historical in nature are “forward-looking statements” within the meaning of the federal securities laws, including statements regarding the Offering and the intended use of the proceeds thereof. These statements often include words such as “believe,” “expect,” “project,” “anticipate,” “intend,” “plan,” “outlook,” “estimate,” “target,” “seek,” “will,” “may,” “would,” “should,” “could,” “forecast,” “mission,” “strive,” “more,” “goal,” or similar expressions and are based upon various assumptions and our experience in the industry, as well as historical trends, current conditions, and expected future developments. However, you should understand that these statements are not guarantees of performance or results and there are a number of risks, uncertainties and other factors that could cause our actual results to differ materially from those expressed in the forward-looking statements, including, among others, cost inflation/deflation and commodity volatility; competition; reliance on third party


The following information was filed by Us Foods Holding Corp. (USFD) on Thursday, April 23, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Assess how Us Foods Holding Corp.'s management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
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Us Foods Holding Corp.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2020 10-K Annual Report includes:

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  • Executive Team
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  • Peers / Competitors

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Inside Us Foods Holding Corp.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (Unaudited)
Consolidated Statements Of Shareholders' Equity
Accounts Receivable Financing Program
Accounts Receivable Financing Program (Detail)
Allowance For Doubtful Accounts Disclosures Allowance For Doubtful Accounts
Allowance For Doubtful Accounts Disclosures Allowance For Doubtful Accounts (Details)
Allowance For Doubtful Accounts Disclosures Allowance For Doubtful Accounts (Tables)
Assets Held For Sale Assets Held For Sale
Assets Held For Sale Schedule Of Assets Held For Sale (Details)
Assets Held For Sale Schedule Of Assets Held For Sale (Tables)
Business Acquisitions Business Acquisitions
Business Acquisitions Business Acquisitions (Tables)
Business Acquisitions Business Acquisitions Other Information (Details)
Business Acquisitions Business Acquisitions Pro Forma Information (Details)
Business Acquisitions Divested Entities Pro Forma Information (Details)
Business Acquisitions Schedule Of Business Acquisitions (Details)
Business Information
Business Information - Additional Information (Detail)
Changes In Accumulated Other Comprehensive Loss
Changes In Accumulated Other Comprehensive Loss (Detail)
Changes In Accumulated Other Comprehensive Loss (Tables)
Commitments And Contingencies
Commitments And Contingencies - Additional Information (Detail)
Debt
Debt (Tables)
Debt - Abl Facility (Detail)
Debt - Abs Facility (Detail)
Debt - Additional Information (Detail)
Debt - Restrictive Covenants (Detail)
Debt - Schedule Of Components Of Total Debt (Detail)
Debt - Term Loan Agreement (Detail)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share Other Information (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Additional Information (Detail)
Fair Value Measurements - Schedule Of Interest Rate Swaps (Detail)
Fair Value Measurements - Schedule Of Interest Rate Swaps In Comprehensive Income (Detail)
Goodwill And Other Intangibles
Goodwill And Other Intangibles (Tables)
Goodwill And Other Intangibles - Additional Information (Detail)
Goodwill And Other Intangibles - Schedule Of Goodwill And Other Intangibles, Net (Detail)
Income Taxes
Inventories
Inventories (Detail)
Leases
Leases (Tables)
Leases - Balance Sheet Location Of Rou Assets And Lease Liabilities (Detail)
Leases - Future Minimum Lease Payments (Details)
Leases - Future Minimum Lease Payments Prior To 842 (Details)
Leases - Location Of Lease Costs (Details)
Leases - Other Information Related To Lease Agreements (Details)
Overview And Basis Of Presentation
Overview And Basis Of Presentation (Detail)
Property And Equipment
Property And Equipment (Detail)
Recent Accounting Pronouncements
Recent Accounting Pronouncements (Details)
Restricted Cash
Restricted Cash (Tables)
Restricted Cash Restricted Cash Table (Details)
Retirement Plans
Retirement Plans (Tables)
Retirement Plans - Additional Information (Detail)
Retirement Plans - Components Of Net Periodic Benefit Costs (Detail)
Revenue Recognition
Revenue Recognition (Tables)
Revenue Recognition - Additional Information (Detail)
Schedule Of Disaggregation Of Revenue (Detail)
Schedule Of Earnings Per Share (Detail)
Schedule Of Fair Value Assets And Liabilities (Detail)
Subsequent Event (Details)
Subsequent Events
Taxes - Additional Information (Detail)
Ticker: USFD
CIK: 1665918
Form Type: 10-Q Quarterly Report
Accession Number: 0001665918-20-000067
Submitted to the SEC: Tue May 05 2020 4:10:25 PM EST
Accepted by the SEC: Tue May 05 2020
Period: Saturday, March 28, 2020
Industry: Wholesale Groceries And Related Products

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