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Us Foods Holding Corp. (USFD) SEC Filing 10-K Annual report for the fiscal year ending Saturday, January 2, 2021

Us Foods Holding Corp.

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CIK: 1665918 Ticker: USFD

Exhibit 99.1
 
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INVESTOR CONTACT:MEDIA CONTACT:
Melissa NapierSara Matheu
(847) 720-2767(847) 720-2392
Melissa.Napier@usfoods.comSara.Matheu@usfoods.com
 
US Foods Reports Fourth Quarter and Fiscal Year 2020 Earnings
 
ROSEMONT, Ill. (BUSINESS WIRE) Feb. 16, 2021 –
US Foods Holding Corp. (NYSE: USFD), one of the largest foodservice distributors in the United States, today announced results for the fourth quarter and full fiscal year 2020. The fourth quarter of fiscal year 2020 included 14 weeks compared to 13 weeks for the fourth quarter of fiscal year 2019, and the full fiscal year 2020 included 53 weeks compared to 52 weeks in the full fiscal year 2019. Certain financial results in this press release have been presented excluding the "extra week" in the fourth quarter and fiscal year 2020 in an effort to provide comparable results on a year-over-year basis. Organic financial results exclude contributions from Smart Foodservice, which was acquired on April 24, 2020. For the Food Group, which was acquired on Sept. 13, 2019, organic financial results include contributions for the Sept. 14, 2020, through Jan. 2, 2021, time period only.
 
Fourth Quarter Fiscal 2020 Highlights
•Total case volume decreased 10.2%; independent restaurant case volume decreased 6.0%. Excluding the extra week, total case volume decreased 15.5% and independent restaurant case volume decreased 11.8%.
•Total organic case volume decreased 15.4%; independent restaurant organic case volume decreased 13.1%. Excluding the extra week, total organic case volume decreased 20.4% and organic independent restaurant case volume decreased 18.5%.
•Net sales decreased 11.5% to $6.1 billion.
•Gross profit decreased 18.5% to $1.0 billion.
•Net loss available to common shareholders was $23 million.
•Adjusted EBITDA decreased 48.1% to $174 million. The extra week contributed approximately $8 million to Adjusted EBITDA.
•Diluted EPS loss was $0.11; Adjusted Diluted EPS was $0.05.

Fiscal Year 2020 Highlights
•Total case volume decreased 11.0%; independent restaurant case volume decreased 11.2%. Excluding the extra week, total case volume decreased 12.5% and independent restaurant case volume decreased 12.7%.
•Total organic case volume decreased 21.3%; independent restaurant organic case volume decreased 20.8%. Excluding the extra week, total organic case volume decreased 22.6% and organic independent restaurant case volume decreased 22.2%.
•Net sales decreased 11.8% to $22.9 billion.
•Gross profit decreased 18.9% to $3.7 billion.
•Net loss available to common shareholders was $254 million.
•Adjusted EBITDA decreased 45.7% to $648 million.
•Diluted EPS loss was $1.15; Adjusted Diluted EPS was $0.09.

1
The following information was filed by Us Foods Holding Corp. (USFD) on Tuesday, February 16, 2021 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Us Foods Holding Corp.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Shareholders' Equity
Accounts Receivable Financing Program
Accounts Receivable Financing Program (Details)
Accrued Expenses And Other Long-Term Liabilities
Accrued Expenses And Other Long-Term Liabilities (Tables)
Accrued Expenses And Other Long-Term Liabilities Estimated Future Payments For Self-Insured Liabilities (Details)
Accrued Expenses And Other Long-Term Liabilities Schedule Of Accrued Expenses And Other Long-Term Liabilities (Details)
Accrued Expenses And Other Long-Term Liabilities Summary Of Self-Insurance Liability (Details)
Allowance For Doubtful Accounts
Allowance For Doubtful Accounts (Details)
Allowance For Doubtful Accounts (Tables)
Assets Held For Sale
Assets Held For Sale (Tables)
Assets Held For Sale Schedule Of Assets Held For Sale Activity (Details)
Business Acquisitions
Business Acquisitions (Tables)
Business Acquisitions Divested Entities Pro Forma Information (Details)
Business Acquisitions Food Group - Additional Information (Details)
Business Acquisitions Food Group - Purchase Price Allocation (Details)
Business Acquisitions Pro Forma Information (Details)
Business Acquisitions Smart Foodservice - Additional Information (Details)
Business Acquisitions Smart Foodservice - Purchase Price Allocation (Details)
Business Information
Business Information (Details)
Changes In Accumulated Other Comprehensive Loss
Changes In Accumulated Other Comprehensive Loss (Details)
Changes In Accumulated Other Comprehensive Loss (Tables)
Commitments And Contingencies
Commitments And Contingencies (Details)
Convertible Preferred Stock (Details)
Convertible Preferred Stock (Notes)
Convertible Preferred Stock (Tables)
Debt
Debt (Tables)
Debt Abl Facility (Details)
Debt Abs Facility (Details)
Debt Additional Information (Details)
Debt Components Of Total Debt (Details)
Debt Covenants (Details)
Debt Principal Payments On Outstanding Debt (Details)
Debt Term Loan Facility (Details)
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Earnings Per Share Other Information (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements Additional Information (Details)
Fair Value Measurements Interest Rate Swaps (Details)
Fair Value Measurements Interest Rate Swaps In Comprehensive Income (Details)
Fair Value Measurements Schedule Of Fair Value Assets And Liabilities (Details)
Financing Leases (Details)
Goodwill And Other Intangibles
Goodwill And Other Intangibles (Tables)
Goodwill And Other Intangibles Additional Information (Details)
Goodwill And Other Intangibles Schedule Of Goodwill And Other Intangibles, Net (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes Additional Information (Details)
Income Taxes Income Tax (Benefit) Provision (Details)
Income Taxes Net Deferred Tax Liabilities In Balance Sheet (Details)
Income Taxes Net Operating Loss Carryforwards Expire (Details)
Income Taxes Reconciliation Of (Benefit) Provision For Income Taxes From Continuing Operations (Details)
Income Taxes Reconciliation Of Unrecognized Tax Benefits (Details)
Income Taxes Significant Deferred Tax Assets And Liabilities (Details)
Income Taxes Summary Of Activity In Valuation Allowance (Details)
Leases
Leases (Tables)
Leases Balance Sheet Location Of Rou Assets And Lease Liabilities (Details)
Leases Future Minimum Lease Payments (Details)
Leases Location Of Lease Costs (Details)
Leases Minimum Lease Payments Prior Year (Details)
Leases Other Information Related To Lease Agreements (Details)
Overview And Basis Of Presentation
Overview And Basis Of Presentation (Details)
Property And Equipment
Property And Equipment (Tables)
Property And Equipment Additional Information (Details)
Property And Equipment Summary Of Property And Equipment (Details)
Recent Accounting Pronouncements
Recent Accounting Pronouncements (Details)
Related Party Transactions
Related Party Transactions (Details)
Restricted Cash
Restricted Cash (Tables)
Restricted Cash Schedule Of Restricted Cash (Details)
Restructuring And Related Activities (Details)
Restructuring Liabilities (Notes)
Restructuring Liabilities (Tables)
Retirement Plans
Retirement Plans (Tables)
Retirement Plans Additional Information (Details)
Retirement Plans Assumed Health Care Trend Rates (Details)
Retirement Plans Assumptions To Determine Benefit Obligations At Period-End And Net Pension Costs (Details)
Retirement Plans Changes In Plan Assets And Benefit Obligations (Details)
Retirement Plans Components Of Net Periodic Pension And Other Postretirement Benefit Costs (Credits) (Details)
Retirement Plans Contributions To Multiemployer Pension Plans (Details)
Retirement Plans Estimated Future Benefit Payments (Details)
Retirement Plans Fair Value Of Defined Benefit Plans' Assets By Asset Fair Value Hierarchy Level (Details)
Retirement Plans Funded Status Of The Defined Benefit Plans (Details)
Revenue Recognition
Revenue Recognition (Tables)
Revenue Recognition Additional Information (Details)
Revenue Recognition Schedule Of Disaggregation Of Revenue (Details)
Senior Notes (Details)
Share-Based Compensation, Common Stock Issuances And Common Stock
Share-Based Compensation, Common Stock Issuances And Common Stock (Tables)
Share-Based Compensation, Common Stock Issuances And Common Stock Additional Information (Details)
Share-Based Compensation, Common Stock Issuances And Common Stock Assumptions For Options (Details)
Share-Based Compensation, Common Stock Issuances And Common Stock Restricted Shares Additional Information (Details)
Share-Based Compensation, Common Stock Issuances And Common Stock Restricted Stock Unit Additional Information (Details)
Share-Based Compensation, Common Stock Issuances And Common Stock Schedule Of Options Outstanding (Details)
Share-Based Compensation, Common Stock Issuances And Common Stock Schedule Of Restricted Share Units (Details)
Share-Based Compensation, Common Stock Issuances And Common Stock Schedule Of Restricted Stock Units (Details)
Share-Based Compensation, Common Stock Issuances And Common Stock Stock Option Additional Information (Details)
Subsequent Events
Subsequent Events (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Details)
Summary Of Significant Accounting Policies (Policies)
Us Foods Holding Corp. Condensed Financial Information
Us Foods Holding Corp. Condensed Financial Information (Tables)
Us Foods Holding Corp. Condensed Financial Information Additional Information (Details)
Us Foods Holding Corp. Condensed Financial Information Balance Sheets (Details)
Us Foods Holding Corp. Condensed Financial Information Cash Flows (Details)
Us Foods Holding Corp. Condensed Financial Information Comprehensive Income (Loss) (Details)
Ticker: USFD
CIK: 1665918
Form Type: 10-K Annual Report
Accession Number: 0001665918-21-000008
Submitted to the SEC: Tue Feb 16 2021 4:41:58 PM EST
Accepted by the SEC: Tue Feb 16 2021
Period: Saturday, January 2, 2021
Industry: Wholesale Groceries And Related Products

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