Performance Food (PFGC) 10-Q 9 May 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Mar. 31, 2018	May 02, 2018
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Trading Symbol	PFGC
Entity Registrant Name	Performance Food Group Company
Entity Central Index Key	1,618,673
Current Fiscal Year End Date	--07-01
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		104,247,423

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions		Mar. 31, 2018	Jul. 01, 2017
Current assets:
Cash		$ 7.5	$ 8.1
Accounts receivable, less allowances of $24.2 and $17.0		1,070.3	1,028.5
Inventories, net		1,054.4	1,013.3
Prepaid expenses and other current assets		51.4	35
Total current assets		2,183.6	2,084.9
Goodwill		740.4	718.6
Other intangible assets, net		202.5	201.1
Property, plant and equipment, net		744.3	740.7
Restricted cash	[1]	13	12.9
Other assets		48.7	45.9
Total assets		3,932.5	3,804.1
Current liabilities:
Outstanding checks in excess of deposits		193.3	218.2
Trade accounts payable		1,022.5	907.1
Accrued expenses and other current liabilities		223.7	246.3
Long-term debt-current installments			5.8
Capital lease obligations-current installments		7.6	5.9
Total current liabilities		1,447.1	1,383.3
Long-term debt		1,199.1	1,241.9
Deferred income tax liability, net		66.3	103
Capital lease obligations, excluding current installments		47.2	44
Other long-term liabilities		111.4	106.4
Total liabilities		2,871.1	2,878.6
Commitments and contingencies (Note 9)
Shareholders' equity:
Common Stock: $0.01 par value per share, 1.0 billion shares authorized, 102.8 million shares issued and outstanding as of March 31, 2018; 1.0 billion shares authorized, 100.8 million shares issued and outstanding as of July 1, 2017		1	1
Additional paid-in capital		852.5	855.5
Accumulated other comprehensive income, net of tax expense of $3.1 and $1.5		7	2.4
Retained earnings		200.9	66.6
Total shareholders' equity		1,061.4	925.5
Total liabilities and shareholders' equity		$ 3,932.5	$ 3,804.1
[1]	Restricted cash represents the amounts required by insurers to collateralize a part of the deductibles for the Company's workers' compensation and liability claims.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2018	Jul. 01, 2017
Statement of Financial Position [Abstract]
Accounts receivable, allowances	$ 24.2	$ 17
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	102,800,000	100,800,000
Common stock, shares outstanding	102,800,000	100,800,000
Accumulated other comprehensive income, tax expense	$ 3.1	$ 1.5

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Apr. 01, 2017	Mar. 31, 2018	Apr. 01, 2017
Income Statement [Abstract]
Net sales	$ 4,349.2	$ 4,235	$ 13,025.2	$ 12,332.9
Cost of goods sold	3,790.5	3,713.6	11,344.2	10,783
Gross profit	558.7	521.4	1,681	1,549.9
Operating expenses	498.6	474.7	1,521.3	1,420.3
Operating profit	60.1	46.7	159.7	129.6
Other expense, net:
Interest expense	15.2	14	44.9	40.5
Other, net	0.1	(0.2)	(0.3)	(1.5)
Other expense, net	15.3	13.8	44.6	39
Income before taxes	44.8	32.9	115.1	90.6
Income tax expense (benefit)	11.1	12.1	(19.2)	34.7
Net income	$ 33.7	$ 20.8	$ 134.3	$ 55.9
Weighted-average common shares outstanding:
Basic	102.7	100.3	101.7	100.1
Diluted	104.5	102.8	104.5	102.8
Earnings per common share:
Basic	$ 0.33	$ 0.21	$ 1.32	$ 0.56
Diluted	$ 0.32	$ 0.20	$ 1.29	$ 0.54

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Apr. 01, 2017	Mar. 31, 2018	Apr. 01, 2017
Statement of Comprehensive Income [Abstract]
Net income	$ 33.7	$ 20.8	$ 134.3	$ 55.9
Interest rate swaps:
Change in fair value, net of tax	2.8	0.5	4.6	6.5
Reclassification adjustment, net of tax	(0.2)	0.6		2.1
Other comprehensive income	2.6	1.1	4.6	8.6
Total comprehensive income	$ 36.3	$ 21.9	$ 138.9	$ 64.5

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) shares in Millions, $ in Millions		Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	(Accumulated Deficit) Retained Earnings [Member]
Balance Beginning at Jul. 02, 2016		$ 802.8	$ 1	$ 836.8	$ (5.8)	$ (29.2)
Balance Beginning, shares at Jul. 02, 2016			99.9
Issuance of common stock under stock-based compensation plans		0.9		0.9
Issuance of common stock under stock-based compensation plans, shares			0.4
Net income		55.9				55.9
Interest rate swaps		8.6			8.6
Stock-based compensation expense		12.1		12.1
Change in accounting principle	[1]	0.4		0.9		(0.5)
Balance Ending at Apr. 01, 2017		880.7	$ 1	850.7	2.8	26.2
Balance Ending, shares at Apr. 01, 2017			100.3
Balance Beginning at Jul. 01, 2017		$ 925.5	$ 1	855.5	2.4	66.6
Balance Beginning, shares at Jul. 01, 2017		100.8	100.8
Issuance of common stock under stock-based compensation plans		$ (21)		(21)
Issuance of common stock under stock-based compensation plans, shares			2
Net income		134.3				134.3
Interest rate swaps		4.6			4.6
Stock-based compensation expense		18		18
Balance Ending at Mar. 31, 2018		$ 1,061.4	$ 1	$ 852.5	$ 7	$ 200.9
Balance Ending, shares at Mar. 31, 2018		102.8	102.8
[1]	As of the beginning of fiscal 2017, the Company elected to early adopt the provisions of ASU 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. The Company has made a policy election to account for forfeitures as they occur and recorded a cumulative-effect adjustment to Accumulated Deficit as of the date of adoption.

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Mar. 31, 2018	Apr. 01, 2017
Cash flows from operating activities:
Net income	$ 134.3	$ 55.9
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation	73.7	66.6
Amortization of intangible assets	22.1	26
Amortization of deferred financing costs	3.6	3.3
Provision for losses on accounts receivables	12	8.4
Stock-based compensation expense	18	12.1
Deferred income tax benefit	(38.4)	(3.4)
Change in fair value of derivative assets and liabilities	(0.1)	(1.7)
Other	8.2	(0.6)
Changes in operating assets and liabilities, net
Accounts receivable	(38.7)	(53.8)
Inventories	(24.2)	(57.7)
Prepaid expenses and other assets	(9.8)	14.3
Trade accounts payable	106.5	(3.3)
Outstanding checks in excess of deposits	(24.9)	54.1
Accrued expenses and other liabilities	(12.7)	(18.2)
Net cash provided by operating activities	229.6	102
Cash flows from investing activities:
Purchases of property, plant and equipment	(73.2)	(106.6)
Net cash paid for acquisitions	(70.9)	(144.9)
Proceeds from sale of property, plant and equipment	0.6	0.7
Net cash used in investing activities	(143.5)	(250.8)
Cash flows from financing activities:
Net (payments) borrowings under ABL Facility	(43.5)	151
Payment of Promissory Note	(6)
Cash paid for shares withheld to cover taxes	(28)	(1.2)
Cash paid for acquisitions	(8.4)	(1.3)
Other financing activities	(0.7)	(3)
Net cash (used in) provided by financing activities	(86.6)	145.5
Net decrease in cash and restricted cash	(0.5)	(3.3)
Cash and restricted cash, beginning of period	21	23.8	[1]
Cash and restricted cash, end of period	20.5	20.5	[1]
Purchases of property, plant and equipment, financed	3.9
Debt assumed through new capital lease obligations	10	22.8
Disposal of property, plant and equipment under sale-leaseback transaction		3.2
Interest	37.3	30.7
Income taxes, net of refunds	$ 25.6	$ 26.9
[1]	The consolidated statement of cash flows for the nine months ended April 1, 2017 has been adjusted to reflect the adoption of ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash. The consolidated statements of cash flows explain the change during the periods in the total of cash and restricted cash. Therefore, restricted cash activity is included with cash when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. Refer to Note 3 for further discussion.

Consolidated Statements of Cas8

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Millions		Mar. 31, 2018	Jul. 01, 2017	Apr. 01, 2017	[2]	Jul. 02, 2016	[2]
Statement of Cash Flows [Abstract]
Cash		$ 7.5	$ 8.1
Restricted cash	[1]	13	12.9
Total cash and restricted cash		$ 20.5	$ 21	$ 20.5		$ 23.8
[1]	Restricted cash represents the amounts required by insurers to collateralize a part of the deductibles for the Company's workers' compensation and liability claims.
[2]	The consolidated statement of cash flows for the nine months ended April 1, 2017 has been adjusted to reflect the adoption of ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash. The consolidated statements of cash flows explain the change during the periods in the total of cash and restricted cash. Therefore, restricted cash activity is included with cash when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. Refer to Note 3 for further discussion.

Summary of Business Activities

Summary of Business Activities	9 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Summary of Business Activities	1. Summary of Business Activities Business Overview Performance Food Group Company, through its subsidiaries, markets and distributes national and company-branded food and food-related products to customer locations across the United States. The Company serves both of the major customer types in the restaurant industry: (i) independent, or “Street” customers, and (ii) multi-unit, or “Chain” customers, which include regional and national family and casual dining restaurant chains, fast casual chains, and quick-service restaurants. The Company also serves schools, healthcare facilities, business and industry locations, and other institutional customers. Secondary Offerings In September 2017, November 2017 and December 2017 Wellspring Capital Management (“Wellspring”) sold an aggregate of 16,272,914 shares of the Company’s common stock in transactions registered under the Securities Act. The Company did not receive any proceeds from these sales. As a result of these sales, Wellspring no longer beneficially owns any shares of the Company’s common stock.

Basis of Presentation

Basis of Presentation	9 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Basis of Presentation	2. Basis of Presentation The consolidated financial statements have been prepared by the Company, without audit, with the exception of the July 1, 2017 consolidated balance sheet, which was derived from the audited consolidated financial statements included in the Form 10-K. The The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. The most significant estimates used by management are related to the accounting for the allowance for doubtful accounts, reserve for inventories, impairment testing of goodwill and other intangible assets, acquisition accounting, reserves for claims and recoveries under insurance programs, vendor rebates and other promotional incentives, bonus accruals, depreciation, amortization, determination of useful lives of tangible and intangible assets, and income taxes. Actual results could differ materially from these estimates. The results of operations are not necessarily indicative of the results to be expected for the full fiscal year. Therefore, these financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Form 10-K. Certain

Recently Issued Accounting Pron

Recently Issued Accounting Pronouncements	9 Months Ended
	Mar. 31, 2018
Accounting Changes and Error Corrections [Abstract]
Recently Issued Accounting Pronouncements	3. Recently Issued Accounting Pronouncements Recently Adopted Accounting Pronouncements In July 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (ASU) 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments 2016-15 In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash beginning-of-period end-of-period 2016-18 beginning-of-period end-of-period In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment 2017-04 2017-04 Recently Issued Accounting Pronouncements Not Yet Adopted In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) Topic 606 is effective for public entities for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Companies may either use a full retrospective or modified retrospective approach for adoption of Topic 606. The Company will adopt the guidance in fiscal 2019 and plans to implement the new standard using the modified retrospective approach. As of the end of the third quarter of fiscal 2018, the Company was nearing the completion of its assessment of the new standard and is completing its documentation of its conclusions and relevant controls. Based on our analysis, the timing of recognition of revenue will be substantially unchanged under the new standard. The amended guidance also requires additional quantitative and qualitative disclosures, which the Company believes will be significant to the consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) right-of-use 10-K. In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. non-financial In February 2018, the FASB issued ASU 2018-02, Income Statement—Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income

Business Combinations

Business Combinations	9 Months Ended
	Mar. 31, 2018
Business Combinations [Abstract]
Business Combinations	4. Business Combinations During the first nine months of fiscal 2018, the Company paid cash of $72.6 million for two acquisitions and during the first nine months of fiscal 2017, the Company paid cash of $145.5 million for six acquisitions. These acquisitions did not materially affect the Company’s results of operations. The following table summarizes the preliminary purchase price allocation for each major class of assets acquired and liabilities assumed for the fiscal 2018 acquisitions. (In millions) Fiscal 2018 Net working capital $ 24.8 Goodwill 21.3 Other intangible assets 24.7 Property, plant and equipment 1.8 Total purchase price $ 72.6 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: (In millions) Performance Foodservice PFG Customized Vistar Corporate Total Balance as of July 1, 2017 $ 428.2 $ 166.5 $ 64.9 $ 59.0 $ 718.6 Acquisitions - current year — — 21.3 — 21.3 Adjustments related to prior year acquisitions 0.2 — — 0.3 0.5 Balance as of March 31, 2018 $ 428.4 $ 166.5 $ 86.2 $ 59.3 $ 740.4 The adjustments related to prior year acquisitions are the result of net working capital adjustments.

Debt

Debt	9 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Debt	5. 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: (In millions) As of March 31, 2018 As of July 1, 2017 ABL $ 856.4 $ 899.9 5.500% Notes due 2024 350.0 350.0 Promissory Note — 6.0 Less: Original issue discount and deferred financing costs (7.3 ) (8.2 ) Long-term debt 1,199.1 1,247.7 Capital and finance lease obligations 54.8 49.9 Total debt 1,253.9 1,297.6 Less: current installments (7.6 ) (11.7 ) Total debt, excluding current installments $ 1,246.3 $ 1,285.9 ABL Facility PFGC, Inc. (“PFGC”), a wholly-owned subsidiary of the Company, is a party to the Second Amended and Restated Credit Agreement dated February 1, 2016, as amended by the First Amendment to Second Amended and Restated Credit Agreement dated August 3, 2017 (the “ABL Facility”). The ABL Facility has an aggregate principal amount of $1.95 billion and matures February 2021. The ABL Facility is secured by the majority of the tangible assets of PFGC and its subsidiaries. Performance Food Group, Inc., a wholly-owned subsidiary of PFGC, is the lead borrower under the ABL Facility, which is jointly and severally guaranteed by PFGC and all material domestic direct and indirect wholly-owned subsidiaries of PFGC (other than captive insurance subsidiaries and other excluded subsidiaries). Borrowings under the ABL Facility bear interest, at Performance Food Group, Inc.’s option, at (a) the Base Rate (defined as the greater of (i) the Federal Funds Rate in effect on such date plus 0.5%, (ii) the Prime Rate on such day, or (iii) one month LIBOR plus 1.0%) plus a spread or (b) LIBOR plus a spread. The ABL Facility also provides for an unused commitment fee ranging from 0.25% to 0.375%. The following table summarizes outstanding borrowings, availability, and the average interest rate under the ABL Facility: (Dollars in millions) As of March 31, 2018 As of July 1, 2017 Aggregate borrowings $ 856.4 $ 899.9 Letters of credit 123.1 105.5 Excess availability, net of lenders’ reserves of $11.5 and $11.2 776.2 594.6 Average interest rate 3.31 % 2.59 % Senior Notes On May 17, 2016, Performance Food Group, Inc. issued and sold $350.0 million aggregate principal amount of its 5.500% Senior Notes due 2024 (the “Notes”), pursuant to an indenture dated as of May 17, 2016. The Notes 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 are not guaranteed by Performance Food Group Company. The ABL Facility and the indenture governing the Notes contain customary restrictive covenants under which all of the net assets of PFGC and its subsidiaries are restricted from distribution to Performance Food Group Company, except for approximately $370.0 million of restricted payment capacity available under such debt agreements, as of March 31, 2018. 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. Unsecured Subordinated Promissory Note In connection with an acquisition, Performance Food Group, Inc. issued a $6.0 million interest only, unsecured subordinated promissory note on December 21, 2012. The $6.0 million promissory note was paid off in December 2017.

Derivatives and Hedging Activit

Derivatives and Hedging Activities	9 Months Ended
	Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Activities	6. 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 effective portion of changes 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. The ineffective portion of the change in fair value of the derivatives is recognized directly in earnings. 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 March 31, 2018, Performance Food Group, Inc. had eight interest rate swaps with a combined $650 million notional amount. The following table summarizes the outstanding Swap Agreements as of March 31, 2018 (in millions): Effective Date Maturity Date Notional Amount Fixed Rate Swapped August 9, 2013 August 9, 2018 $ 200.0 1.51 % June 30, 2017 June 30, 2019 50.0 1.13 % June 30, 2017 June 30, 2020 50.0 1.23 % June 30, 2017 June 30, 2020 50.0 1.25 % June 30, 2017 June 30, 2020 50.0 1.26 % August 9, 2018 August 9, 2021 75.0 1.21 % August 9, 2018 August 9, 2021 75.0 1.20 % June 30, 2020 December 31, 2021 100.0 2.16 % Hedges of Forecasted Diesel Fuel Purchases From time to time, Performance Food Group, Inc. enters into costless collar arrangements to manage its exposure to variability in cash flows expected to be paid for its forecasted purchases of diesel fuel. As of March 31, 2018, Performance Food Group, Inc. was a party to three such arrangements, with an aggregate 6.0 million gallon original notional amount, of which an aggregate 3.75 million gallon notional was remaining. The remaining 3.75 million gallon forecasted purchases of diesel fuel are expected to be made between April 1, 2018 and December 31, 2018. The fuel collar 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 in the accompanying consolidated statements of operations.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	7. 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 $1,199.1 million and $1,247.7 million, respectively, is $1,208.4 million and $1,258.3 million at March 31, 2018 and July 1, 2017, 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.

Income Taxes

Income Taxes	9 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	8. 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 United States federal and state 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. On December 22, 2017, H.R.1, known as the “Tax Cuts and Jobs Act,” (the “Act”) was signed into law. The Act makes broad and complex changes to the U.S. Internal Revenue Code including, but not limited to: reducing the U.S. federal corporate tax rate from 35% to 21%; creating a new limitation on deductible interest expense; repealing the domestic production activity deduction, providing for bonus depreciation that will allow for full expensing of certain qualified property; and limiting other deductions. The Company’s net deferred tax liability of $103.0 million as of July 1, 2017 was determined using the federal corporate tax rate of 35% prior to the passage of the Act. The Act reduced the federal corporate tax rate to 21%, effective January 1, 2018. Consequently, we have recorded a $10.2 million decrease in deferred tax assets and a $48.7 million decrease in deferred tax liabilities with a corresponding net benefit to deferred income tax expense of $ 38.5 million for the nine months ended March 31, 2018. The Company recorded a $1.1 million decrease in deferred tax liabilities with a corresponding net benefit to deferred income tax expense of $1.1 million for the three months ended March 31, 2018. The SEC staff issued Staff Accounting Bulletin 118 (“SAB 118”), which provides guidance on accounting for the tax effects of the Act. SAB 118 provides a measurement period that should not extend beyond one year from the Act enactment date for companies to complete the accounting under FASB ASC 740 – Income Taxes. In accordance with SAB 118, a company must reflect the income tax effects of those aspects of the Act for which the accounting under ASC 740 is complete. To the extent that a company’s accounting for certain income tax effects of the Act is incomplete but it is able to determine a reasonable estimate, it must record a provisional estimate in the financial statements. If a company cannot determine a provisional estimate to be included in the financial statements, it should continue to apply ASC 740 on the basis of the provisions of the tax laws that were in effect immediately before the enactment of the Act. The Company has not identified any items for which the income tax effects of the Act have not been substantially completed. The Company’s effective tax rate was 24.8% for the three months ended March 31, 2018 and 36.8% for the three months ended April 1, 2017. The Company’s effective tax rate was -16.7% (Dollars in millions) Three Months Ended Nine Months Ended Income Tax Effective Tax Income Tax Effective Tax Income tax expense (benefit), reported $ 11.1 24.8 % $ (19.2 ) -16.7 % Revaluation of net deferred income tax liability 1.1 2.4 % 38.5 33.4 % Stock-based compensation – performance vesting — — 15.4 13.4 % Income tax expense, excluding benefits $ 12.2 27.2 % $ 34.7 30.1 % As of March 31, 2018 and July 1, 2017, the Company had net deferred tax assets of $32.9 million and $43.1 million, respectively, and deferred tax liabilities of $99.2 million and $146.1 million, respectively. For the three months ended March 31, 2018, the Company established a valuation allowance against deferred tax assets for certain net operating losses which are not likely to be realized due to limitations on utilization. Management believes that it is more likely than not that the remaining deferred tax assets will be realized. The Company records a liability for Uncertain Tax Positions in accordance with FASB ASC 740-10-25, Income Taxes – General - Recognition

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	9. Commitments and Contingencies Purchase Obligations The Company had outstanding contracts and purchase orders for capital projects and services totaling $21.8 million at March 31, 2018. Amounts due under these contracts were not included on the Company’s consolidated balance sheet as of March 31, 2018. Guarantees Subsidiaries of the Company have entered into numerous operating leases, including leases of buildings, equipment, tractors, and trailers. 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 equaling 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 7% and 20% of the value of the leased assets at inception of the lease. These leases have original terms ranging from 4 to 8 years and expiration dates ranging from 2018 to 2025. As of March 31, 2018, the undiscounted maximum amount of potential future payments for lease guarantees totaled approximately $28.4 million, which would be mitigated by the fair value of the leased assets at lease expiration. The assessment as to whether it is probable that subsidiaries of the Company will be required to make payments under the terms of the guarantees is based upon their actual and expected loss experience. Consistent with the requirements of FASB ASC 460-10-50, Guarantees-Overall-Disclosure, 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. U.S. Equal Employment Opportunity Commission Lawsuit Tax Liabilities The Company is subject to customary audits by authorities in the jurisdictions where it conducts business in the United States, which may result in assessments of additional taxes.

Related-Party Transactions

Related-Party Transactions	9 Months Ended
	Mar. 31, 2018
Related Party Transactions [Abstract]
Related-Party Transactions	10. Related-Party Transactions Transaction and Advisory Fee Agreement The Company was a party to an advisory fee agreement pursuant to which affiliates of The Blackstone Group L.P. and Wellspring provided management certain strategic and structuring advice and certain monitoring, advising, and consulting services to the Company. The advisory fee agreement provided for the payment by the Company of an annual advisory fee and the reimbursement of out of pocket expenses. In fiscal 2018 the Company paid a total of $3.0 million related to this agreement. The payments made under this agreement totaled $5.6 million during the nine months ended April 1, 2017. Under its terms, this agreement terminated on October 6, 2017. Other 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 $4.6 million as of March 31, 2018 and as of July 1, 2017. During the three-month periods ended March 31, 2018 and April 1, 2017, the Company recorded purchases of $202.7 million and $193.8 million, respectively, through the purchasing alliance. During the nine-month periods ended March 31, 2018 and April 1, 2017, the Company recorded purchases of $593.0 million and $580.8 million, respectively, through the purchasing alliance.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Earnings Per Share	11. Earnings Per 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 EPS is calculated using the weighted-average number of common shares and dilutive potential common shares outstanding during the period. In computing diluted EPS, the average closing stock price for the period is used in determining the number of shares assumed to be purchased with the proceeds from the exercise of stock options under the treasury stock method. Potential common shares of 0.7 million and 0.7 million for the three and nine months ended March 31, 2018, respectively, were not included in computing diluted earnings per share because the effect would have been antidilutive. Potential common shares of 0.8 million and 1.1 million for the three and nine months ended April 1, 2017, respectively, were not included in computing diluted earnings per share because the effect would have been antidilutive. A reconciliation of the numerators and denominators for the basic and diluted EPS computations is as follows: (In millions, except per share amounts) Three months Three months Nine months Nine months Numerator: Net income $ 33.7 $ 20.8 $ 134.3 $ 55.9 Denominator: Weighted-average common shares outstanding 102.7 100.3 101.7 100.1 Dilutive effect of 1.8 2.5 2.8 2.7 Weighted-average dilutive shares outstanding 104.5 102.8 104.5 102.8 Basic earnings per share $ 0.33 $ 0.21 $ 1.32 $ 0.56 Diluted earnings per share $ 0.32 $ 0.20 $ 1.29 $ 0.54

Segment Information

Segment Information	9 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Segment Information	12. Segment Information The Company has three reportable segments, as defined by ASC 280 Segment Reporting Corporate & All Other is comprised of corporate overhead and certain operations that are not considered separate reportable segments based on their size. This includes the operations of the Company’s internal logistics unit responsible for managing and allocating inbound logistics revenue and expense, as well as the operations of certain recent acquisitions. In the first quarter of fiscal 2018, the Company reorganized its information technology department, and expenses associated with business application teams are now included in the segments results. The EBITDA for PFS, Vistar and Corporate & All Other for the three and nine months ended April 1, 2017 has been adjusted to reflect this change. (In millions) PFS PFG Vistar Corporate Eliminations Consolidated For the three months ended March 31, 2018 Net external sales $ 2,519.4 $ 960.2 $ 819.5 $ 50.1 $ — $ 4,349.2 Inter-segment sales 2.8 0.1 0.7 61.9 (65.5 ) — Total sales 2,522.2 960.3 820.2 112.0 (65.5 ) 4,349.2 EBITDA 69.7 10.2 32.5 (20.3 ) — 92.1 Depreciation and amortization 14.9 3.7 6.6 6.9 — 32.1 Capital expenditures 20.0 4.8 5.9 4.0 — 34.7 For the three months ended April 1, 2017 Net external sales $ 2,405.6 $ 1,036.2 $ 749.8 $ 43.4 $ — $ 4,235.0 Inter-segment sales 2.6 0.1 0.7 56.0 (59.4 ) — Total sales 2,408.2 1,036.3 750.5 99.4 (59.4 ) 4,235.0 EBITDA 66.7 10.3 28.5 (25.9 ) — 79.6 Depreciation and amortization 15.0 3.6 6.7 7.4 — 32.7 Capital expenditures 18.5 2.4 1.8 4.0 — 26.7 (In millions) PFS PFG Vistar Corporate Eliminations Consolidated For the nine months ended March 31, 2018 Net external sales $ 7,676.7 $ 2,744.3 $ 2,454.0 $ 150.2 $ — $ 13,025.2 Inter-segment sales 7.9 0.3 1.9 180.5 (190.6 ) — Total sales 7,684.6 2,744.6 2,455.9 330.7 (190.6 ) 13,025.2 EBITDA 231.5 21.3 92.3 (89.3 ) — 255.8 Depreciation and amortization 43.3 11.0 19.8 21.7 — 95.8 Capital expenditures 40.5 11.1 11.5 10.1 — 73.2 For the nine months ended April 1, 2017 Net external sales $ 7,197.1 $ 2,836.3 $ 2,228.0 $ 71.5 $ — $ 12,332.9 Inter-segment sales 5.7 0.8 1.9 164.7 (173.1 ) — Total sales 7,202.8 2,837.1 2,229.9 236.2 (173.1 ) 12,332.9 EBITDA 214.8 20.9 83.3 (95.3 ) — 223.7 Depreciation and amortization 42.1 12.4 18.5 19.6 — 92.6 Capital expenditures 72.3 7.3 4.0 23.0 — 106.6 Total assets by reportable segment, excluding intercompany receivables between segments, are as follows: (In millions) As of As of PFS $ 2,230.9 $ 2,161.2 PFG Customized 660.0 667.1 Vistar 731.6 654.5 Corporate & All Other 310.0 321.3 Total assets $ 3,932.5 $ 3,804.1

Stock-based Compensation

Stock-based Compensation	9 Months Ended
	Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-based Compensation	13. Stock-based Compensation Performance Food Group Company provides compensation benefits to employees and non-employee The Tranche II and Tranche III options and restricted stock granted under the 2007 Option Plan are subject to both time and performance vesting, including performance criteria based on the internal rate of return and sponsor cash inflows as outlined in the 2007 Option Plan. On December 7, 2017, Wellspring sold all of their remaining interest in shares of the Company’s common stock and the Company determined that the performance criteria for the Tranche II and III awards had been met, resulting in the vesting of 2.1 million shares of restricted stock and 1.4 million options. In the second quarter of fiscal 2018, the Company recognized approximately $6.3 million of accelerated compensation expense in connection with the vesting of the Tranche II and III awards. Based on the performance achieved, total compensation expense for the Tranche II and III awards was $24.9 million. The excess tax benefit recognized in the consolidated statement of operations for the nine months ended March 31, 2018 was $15.4 million.

Recently Issued Accounting Pr22

Recently Issued Accounting Pronouncements (Policies)	9 Months Ended
	Mar. 31, 2018
Accounting Changes and Error Corrections [Abstract]
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In July 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (ASU) 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments 2016-15 In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash beginning-of-period end-of-period 2016-18 beginning-of-period end-of-period In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment 2017-04 2017-04 Recently Issued Accounting Pronouncements Not Yet Adopted In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) Topic 606 is effective for public entities for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Companies may either use a full retrospective or modified retrospective approach for adoption of Topic 606. The Company will adopt the guidance in fiscal 2019 and plans to implement the new standard using the modified retrospective approach. As of the end of the third quarter of fiscal 2018, the Company was nearing the completion of its assessment of the new standard and is completing its documentation of its conclusions and relevant controls. Based on our analysis, the timing of recognition of revenue will be substantially unchanged under the new standard. The amended guidance also requires additional quantitative and qualitative disclosures, which the Company believes will be significant to the consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) right-of-use 10-K. In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. non-financial In February 2018, the FASB issued ASU 2018-02, Income Statement—Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income

Business Combinations (Tables)

Business Combinations (Tables)	9 Months Ended
	Mar. 31, 2018
Business Combinations [Abstract]
Summary of Preliminary Purchase Price Allocation of Major Class of Assets Acquired and Liabilities Assumed	The following table summarizes the preliminary purchase price allocation for each major class of assets acquired and liabilities assumed for the fiscal 2018 acquisitions. (In millions) Fiscal 2018 Net working capital $ 24.8 Goodwill 21.3 Other intangible assets 24.7 Property, plant and equipment 1.8 Total purchase price $ 72.6
Changes in Carrying Amount of Goodwill	The following table presents the changes in the carrying amount of goodwill: (In millions) Performance Foodservice PFG Customized Vistar Corporate Total Balance as of July 1, 2017 $ 428.2 $ 166.5 $ 64.9 $ 59.0 $ 718.6 Acquisitions - current year — — 21.3 — 21.3 Adjustments related to prior year acquisitions 0.2 — — 0.3 0.5 Balance as of March 31, 2018 $ 428.4 $ 166.5 $ 86.2 $ 59.3 $ 740.4

Debt (Tables)

Debt (Tables)	9 Months Ended
	Mar. 31, 2018
Schedule of Debt	Debt consisted of the following: (In millions) As of March 31, 2018 As of July 1, 2017 ABL $ 856.4 $ 899.9 5.500% Notes due 2024 350.0 350.0 Promissory Note — 6.0 Less: Original issue discount and deferred financing costs (7.3 ) (8.2 ) Long-term debt 1,199.1 1,247.7 Capital and finance lease obligations 54.8 49.9 Total debt 1,253.9 1,297.6 Less: current installments (7.6 ) (11.7 ) Total debt, excluding current installments $ 1,246.3 $ 1,285.9
ABL Facility [Member]
Summary of Outstanding Borrowings, Availability, and Average Interest Rate	The following table summarizes outstanding borrowings, availability, and the average interest rate under the ABL Facility: (Dollars in millions) As of March 31, 2018 As of July 1, 2017 Aggregate borrowings $ 856.4 $ 899.9 Letters of credit 123.1 105.5 Excess availability, net of lenders’ reserves of $11.5 and $11.2 776.2 594.6 Average interest rate 3.31 % 2.59 %

Derivatives and Hedging Activ25

Derivatives and Hedging Activities (Tables)	9 Months Ended
	Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Outstanding Swap Agreements	The following table summarizes the outstanding Swap Agreements as of March 31, 2018 (in millions): Effective Date Maturity Date Notional Amount Fixed Rate Swapped August 9, 2013 August 9, 2018 $ 200.0 1.51 % June 30, 2017 June 30, 2019 50.0 1.13 % June 30, 2017 June 30, 2020 50.0 1.23 % June 30, 2017 June 30, 2020 50.0 1.25 % June 30, 2017 June 30, 2020 50.0 1.26 % August 9, 2018 August 9, 2021 75.0 1.21 % August 9, 2018 August 9, 2021 75.0 1.20 % June 30, 2020 December 31, 2021 100.0 2.16 %

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Schedule of Effective Income Tax Rate Reconciliation	The impact to the provision for stock-based compensation and the impact of the reduction in tax rate under the Act are summarized as follows: (Dollars in millions) Three Months Ended Nine Months Ended Income Tax Effective Tax Income Tax Effective Tax Income tax expense (benefit), reported $ 11.1 24.8 % $ (19.2 ) -16.7 % Revaluation of net deferred income tax liability 1.1 2.4 % 38.5 33.4 % Stock-based compensation – performance vesting — — 15.4 13.4 % Income tax expense, excluding benefits $ 12.2 27.2 % $ 34.7 30.1 %

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Schedule of Reconciliation of Numerators and Denominators for Basic and Diluted Earnings Per Share Computations	A reconciliation of the numerators and denominators for the basic and diluted EPS computations is as follows: (In millions, except per share amounts) Three months Three months Nine months Nine months Numerator: Net income $ 33.7 $ 20.8 $ 134.3 $ 55.9 Denominator: Weighted-average common shares outstanding 102.7 100.3 101.7 100.1 Dilutive effect of 1.8 2.5 2.8 2.7 Weighted-average dilutive shares outstanding 104.5 102.8 104.5 102.8 Basic earnings per share $ 0.33 $ 0.21 $ 1.32 $ 0.56 Diluted earnings per share $ 0.32 $ 0.20 $ 1.29 $ 0.54

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	In the first quarter of fiscal 2018, the Company reorganized its information technology department, and expenses associated with business application teams are now included in the segments results. The EBITDA for PFS, Vistar and Corporate & All Other for the three and nine months ended April 1, 2017 has been adjusted to reflect this change. (In millions) PFS PFG Vistar Corporate Eliminations Consolidated For the three months ended March 31, 2018 Net external sales $ 2,519.4 $ 960.2 $ 819.5 $ 50.1 $ — $ 4,349.2 Inter-segment sales 2.8 0.1 0.7 61.9 (65.5 ) — Total sales 2,522.2 960.3 820.2 112.0 (65.5 ) 4,349.2 EBITDA 69.7 10.2 32.5 (20.3 ) — 92.1 Depreciation and amortization 14.9 3.7 6.6 6.9 — 32.1 Capital expenditures 20.0 4.8 5.9 4.0 — 34.7 For the three months ended April 1, 2017 Net external sales $ 2,405.6 $ 1,036.2 $ 749.8 $ 43.4 $ — $ 4,235.0 Inter-segment sales 2.6 0.1 0.7 56.0 (59.4 ) — Total sales 2,408.2 1,036.3 750.5 99.4 (59.4 ) 4,235.0 EBITDA 66.7 10.3 28.5 (25.9 ) — 79.6 Depreciation and amortization 15.0 3.6 6.7 7.4 — 32.7 Capital expenditures 18.5 2.4 1.8 4.0 — 26.7 (In millions) PFS PFG Vistar Corporate Eliminations Consolidated For the nine months ended March 31, 2018 Net external sales $ 7,676.7 $ 2,744.3 $ 2,454.0 $ 150.2 $ — $ 13,025.2 Inter-segment sales 7.9 0.3 1.9 180.5 (190.6 ) — Total sales 7,684.6 2,744.6 2,455.9 330.7 (190.6 ) 13,025.2 EBITDA 231.5 21.3 92.3 (89.3 ) — 255.8 Depreciation and amortization 43.3 11.0 19.8 21.7 — 95.8 Capital expenditures 40.5 11.1 11.5 10.1 — 73.2 For the nine months ended April 1, 2017 Net external sales $ 7,197.1 $ 2,836.3 $ 2,228.0 $ 71.5 $ — $ 12,332.9 Inter-segment sales 5.7 0.8 1.9 164.7 (173.1 ) — Total sales 7,202.8 2,837.1 2,229.9 236.2 (173.1 ) 12,332.9 EBITDA 214.8 20.9 83.3 (95.3 ) — 223.7 Depreciation and amortization 42.1 12.4 18.5 19.6 — 92.6 Capital expenditures 72.3 7.3 4.0 23.0 — 106.6
Summary Assets by Reportable Segment, Excluding Intercompany Receivables	Total assets by reportable segment, excluding intercompany receivables between segments, are as follows: (In millions) As of As of PFS $ 2,230.9 $ 2,161.2 PFG Customized 660.0 667.1 Vistar 731.6 654.5 Corporate & All Other 310.0 321.3 Total assets $ 3,932.5 $ 3,804.1

Summary of Business Activities

Summary of Business Activities - Additional Information (Detail) - Common Stock [Member] - Secondary Offering [Member] - Wellspring Capital Management [Member]	4 Months Ended
	Dec. 30, 2017USD ($)shares
Business Description [Line Items]
Number of common shares sold by selling stockholders | shares	16,272,914
Proceeds from issuance of secondary offerings | $	$ 0
Ownership percentage	0.00%

Business Combinations - Additio

Business Combinations - Additional Information (Detail) $ in Millions	9 Months Ended
	Mar. 31, 2018USD ($)Business-Combination	Apr. 01, 2017USD ($)Business-Combination
Business Acquisition [Line Items]
Payment for acquisition	$ 70.9	$ 144.9
Number of acquisitions | Business-Combination	2	6
Business Acquisition Cost [Member]
Business Acquisition [Line Items]
Payment for acquisition	$ 72.6	$ 145.5

Business Combinations - Summary

Business Combinations - Summary of Preliminary Purchase Price Allocation of Major Class of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Millions	Mar. 31, 2018	Jul. 01, 2017
Business Acquisition [Line Items]
Goodwill	$ 740.4	$ 718.6
2017 Acquisitions [Member]
Business Acquisition [Line Items]
Net working capital	24.8
Goodwill	21.3
Other intangible assets	24.7
Property, plant and equipment	1.8
Total purchase price	$ 72.6

Business Combination - Changes

Business Combination - Changes in Carrying Amount of Goodwill (Detail) $ in Millions	9 Months Ended
	Mar. 31, 2018USD ($)
Goodwill [Line Items]
Goodwill, Beginning Balance	$ 718.6
Acquisitions - current year	21.3
Adjustments related to prior year acquisitions	0.5
Goodwill, Ending Balance	740.4
Performance Foodservice [Member]
Goodwill [Line Items]
Goodwill, Beginning Balance	428.2
Adjustments related to prior year acquisitions	0.2
Goodwill, Ending Balance	428.4
PFG Customized [Member]
Goodwill [Line Items]
Goodwill, Beginning Balance	166.5
Goodwill, Ending Balance	166.5
Vistar [Member]
Goodwill [Line Items]
Goodwill, Beginning Balance	64.9
Acquisitions - current year	21.3
Goodwill, Ending Balance	86.2
Corporate and Other [Member]
Goodwill [Line Items]
Goodwill, Beginning Balance	59
Adjustments related to prior year acquisitions	0.3
Goodwill, Ending Balance	$ 59.3

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Detail) - USD ($) $ in Millions	Mar. 31, 2018	Jul. 01, 2017
Debt Instrument [Line Items]
Less: Original issue discount and deferred financing costs	$ (7.3)	$ (8.2)
Long-term debt	1,199.1	1,247.7
Capital and finance lease obligations	54.8	49.9
Total debt	1,253.9	1,297.6
Total debt	1,253.9	1,297.6
Less: current installments	(7.6)	(11.7)
Total debt, excluding current installments	1,246.3	1,285.9
ABL Facility [Member]
Debt Instrument [Line Items]
Long-term debt, gross	856.4	899.9
5.500% Senior Notes due 2024 [Member]
Debt Instrument [Line Items]
Long-term debt, gross	$ 350	350
Unsecured Subordinated Promissory Note [Member]
Debt Instrument [Line Items]
Long-term debt, gross		$ 6

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($)	May 17, 2016	Dec. 30, 2017	Mar. 31, 2018	Dec. 21, 2012
Debt Instrument [Line Items]
Payment of promissory note			$ 6,000,000
ABL Facility [Member]
Debt Instrument [Line Items]
Debt instruments face amount			$ 1,950,000,000
Credit facility, maturity period			2021-02
Debt instrument description of variable rate			(a) the Base Rate (defined as the greater of (i) the Federal Funds Rate in effect on such date plus 0.5%, (ii) the Prime Rate on such day, or (iii) one month LIBOR plus 1.0%) plus a spread or (b) LIBOR plus a spread.
ABL Facility [Member] | Minimum [Member]
Debt Instrument [Line Items]
Credit facility, commitment fee percentage			0.25%
ABL Facility [Member] | Maximum [Member]
Debt Instrument [Line Items]
Credit facility, commitment fee percentage			0.375%
ABL Facility [Member] | Federal Funds Effective Swap Rate [Member]
Debt Instrument [Line Items]
Basis spread on variable rate			0.50%
ABL Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Basis spread on variable rate			1.00%
5.500% Senior Notes due 2024 [Member]
Debt Instrument [Line Items]
Debt instruments face amount	$ 350,000,000
Debt instruments amount, interest rate	5.50%
Debt instruments maturity year	2,024
ABL Facility and Term Facility [Member]
Debt Instrument [Line Items]
Debt covenant restrictive amount			$ 370,000,000
Unsecured Subordinated Promissory Note [Member]
Debt Instrument [Line Items]
Debt instruments face amount				$ 6,000,000
Payment of promissory note		$ 6,000,000

Debt - Summary of Outstanding B

Debt - Summary of Outstanding Borrowings, Availability, and Average Interest Rate under ABL Facility (Detail) - ABL Facility [Member] - USD ($) $ in Millions	Mar. 31, 2018	Jul. 01, 2017
Debt Instrument [Line Items]
Aggregate borrowings	$ 856.4	$ 899.9
Letters of credit	123.1	105.5
Excess availability, net of lenders' reserves of $11.5 and $11.2	$ 776.2	$ 594.6
Average interest rate	3.31%	2.59%

Debt - Summary of Outstanding36

Debt - Summary of Outstanding Borrowings, Availability, and Average Interest Rate under ABL Facility (Parenthetical) (Detail) - USD ($) $ in Millions	Mar. 31, 2018	Jul. 01, 2017
ABL Facility [Member]
Debt Instrument [Line Items]
Debt amount reserve by lender	$ 11.5	$ 11.2

Derivatives and Hedging Activ37

Derivatives and Hedging Activities - Additional Information (Detail)	9 Months Ended
	Dec. 31, 2018gal	Mar. 31, 2018USD ($)AgreementInterest_Rates_Swapsgal
Derivative [Line Items]
Non-monetary notional amount volume		6,000,000
Number of arrangements | Agreement		3
Scenario Forecast [Member]
Derivative [Line Items]
Non-monetary notional amount volume	3,750,000
Interest Rate Swaps [Member]
Derivative [Line Items]
Number of interest rate swaps | Interest_Rates_Swaps		8
Notional Amount | $		$ 650,000,000

Derivatives and Hedging Activ38

Derivatives and Hedging Activities - Schedule of Outstanding Swap Agreements (Detail)	9 Months Ended
	Mar. 31, 2018USD ($)
Interest Rate Swap Agreement One [Member]
Derivative [Line Items]
Effective Date	Aug. 9, 2013
Maturity Date	Aug. 9, 2018
Notional Amount	$ 200,000,000
Fixed Rate Swapped	1.51%
Interest Rate Swap Agreement Two [Member]
Derivative [Line Items]
Effective Date	Jun. 30, 2017
Maturity Date	Jun. 30, 2019
Notional Amount	$ 50,000,000
Fixed Rate Swapped	1.13%
Interest Rate Swap Agreement Three [Member]
Derivative [Line Items]
Effective Date	Jun. 30, 2017
Maturity Date	Jun. 30, 2020
Notional Amount	$ 50,000,000
Fixed Rate Swapped	1.23%
Interest Rate Swap Agreement Four [Member]
Derivative [Line Items]
Effective Date	Jun. 30, 2017
Maturity Date	Jun. 30, 2020
Notional Amount	$ 50,000,000
Fixed Rate Swapped	1.25%
Interest Rate Swap Agreement Five [Member]
Derivative [Line Items]
Effective Date	Jun. 30, 2017
Maturity Date	Jun. 30, 2020
Notional Amount	$ 50,000,000
Fixed Rate Swapped	1.26%
Interest Rate Swap Agreement Six [Member]
Derivative [Line Items]
Effective Date	Aug. 9, 2018
Maturity Date	Aug. 9, 2021
Notional Amount	$ 75,000,000
Fixed Rate Swapped	1.21%
Interest Rate Swap Agreement Seven [Member]
Derivative [Line Items]
Effective Date	Aug. 9, 2018
Maturity Date	Aug. 9, 2021
Notional Amount	$ 75,000,000
Fixed Rate Swapped	1.20%
Interest Rate Swap Agreement Eight [Member]
Derivative [Line Items]
Effective Date	Jun. 30, 2020
Maturity Date	Dec. 31, 2021
Notional Amount	$ 100,000,000
Fixed Rate Swapped	2.16%

Fair Value of Financial Instr39

Fair Value of Financial Instruments - Additional Information (Detail) - USD ($) $ in Millions	Mar. 31, 2018	Jul. 01, 2017
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Long-term debt	$ 1,199.1	$ 1,247.7
Reported Value Measurement [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Long-term debt	1,199.1	1,247.7
Fair Value Inputs Level 2 [Member]
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Fair value of long term debt	$ 1,208.4	$ 1,258.3

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Mar. 31, 2018	Apr. 01, 2017	Mar. 31, 2018	Apr. 01, 2017	Jul. 01, 2018	Jul. 01, 2017
Income Tax Contingency [Line Items]
Total net deferred income tax liability						$ 103
Effective income tax rate reconciliation, at federal statutory income tax rate, percent	28.00%	35.00%	28.00%	35.00%		35.00%
Decrease in deferred tax assets			$ (10.2)
Decrease in deferred tax liabilities	$ (1.1)		(48.7)
Deferred income tax benefit revalued amount	$ 1.1		$ 38.5
Effective income tax rate	24.80%	36.80%	(16.70%)	38.30%
Net deferred tax assets	$ 32.9		$ 32.9			$ 43.1
Net deferred tax liabilities	99.2		99.2			146.1
Unrecognized tax benefits	$ 1.3		1.3			$ 1.3
Decrease in unrecognized tax benefits			$ 0.1
Scenario, Plan [Member]
Income Tax Contingency [Line Items]
Effective income tax rate reconciliation, at federal statutory income tax rate, percent					21.00%

Income Taxes - Schedule of Effe

Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Apr. 01, 2017	Mar. 31, 2018	Apr. 01, 2017
Income Tax Disclosure [Abstract]
Income tax expense (benefit), reported	$ 11.1	$ 12.1	$ (19.2)	$ 34.7
Revaluation of net deferred income tax liability	1.1		38.5
Stock-based compensation - performance vesting			15.4
Income tax expense, excluding benefits	$ 12.2		$ 34.7
Income tax expense (benefit), reported	24.80%	36.80%	(16.70%)	38.30%
Revaluation of net deferred income tax liability	2.40%		33.40%
Stock-based compensation - performance vesting			13.40%
Income tax expense, excluding benefits	27.20%		30.10%

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)	9 Months Ended
	Mar. 31, 2018USD ($)
Commitments And Contingencies [Line Items]
Outstanding contracts and purchase orders for capital projects and services	$ 21,800,000
Undiscounted maximum amount for guarantees	28,400,000
Future guarantee annual payments	$ 300,000
Minimum [Member]
Commitments And Contingencies [Line Items]
Operating lease agreements range	7.00%
Operating lease expiration term	4 years
Operating lease expiration dates	2,018
Maximum [Member]
Commitments And Contingencies [Line Items]
Operating lease agreements range	20.00%
Operating lease expiration term	8 years
Operating lease expiration dates	2,025

Related-Party Transactions - Ad

Related-Party Transactions - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Apr. 01, 2017	Mar. 31, 2018	Apr. 01, 2017	Jul. 01, 2017
Related Party Transaction [Line Items]
Annual payment and reimbursements to affiliates			$ 3	$ 5.6
Purchasing Alliance [Member]
Related Party Transaction [Line Items]
Purchases from related party	$ 202.7	$ 193.8	593	$ 580.8
Equity method investments	$ 4.6		$ 4.6		$ 4.6

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares shares in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Apr. 01, 2017	Mar. 31, 2018	Apr. 01, 2017
Earnings Per Share [Abstract]
Potential common shares not included in computing diluted earnings per share due to antidilutive effect	0.7	0.8	0.7	1.1

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Reconciliation of Numerators and Denominators for Basic and Diluted Earnings Per Share Computations (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Apr. 01, 2017	Mar. 31, 2018	Apr. 01, 2017
Numerator:
Net income	$ 33.7	$ 20.8	$ 134.3	$ 55.9
Denominator:
Weighted-average common shares outstanding	102.7	100.3	101.7	100.1
Dilutive effect of share-based awards	1.8	2.5	2.8	2.7
Weighted-average dilutive shares outstanding	104.5	102.8	104.5	102.8
Basic earnings per share	$ 0.33	$ 0.21	$ 1.32	$ 0.56
Diluted earnings per share	$ 0.32	$ 0.20	$ 1.29	$ 0.54

Segment Information - Additiona

Segment Information - Additional Information (Detail)	9 Months Ended
	Mar. 31, 2018Segment
Segment Reporting [Abstract]
Number of reportable segments	3

Segment Information - Schedule

Segment Information - Schedule of Segment Reporting Information, by Segment (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Apr. 01, 2017	Mar. 31, 2018	Apr. 01, 2017
Segment Reporting Information [Line Items]
Net sales	$ 4,349.2	$ 4,235	$ 13,025.2	$ 12,332.9
EBITDA	92.1	79.6	255.8	223.7
Depreciation and amortization	32.1	32.7	95.8	92.6
Capital expenditures	34.7	26.7	73.2	106.6
Performance Foodservice [Member]
Segment Reporting Information [Line Items]
Net sales	2,519.4	2,405.6	7,676.7	7,197.1
EBITDA	69.7	66.7	231.5	214.8
Depreciation and amortization	14.9	15	43.3	42.1
Capital expenditures	20	18.5	40.5	72.3
PFG Customized [Member]
Segment Reporting Information [Line Items]
Net sales	960.2	1,036.2	2,744.3	2,836.3
EBITDA	10.2	10.3	21.3	20.9
Depreciation and amortization	3.7	3.6	11	12.4
Capital expenditures	4.8	2.4	11.1	7.3
Vistar [Member]
Segment Reporting Information [Line Items]
Net sales	819.5	749.8	2,454	2,228
EBITDA	32.5	28.5	92.3	83.3
Depreciation and amortization	6.6	6.7	19.8	18.5
Capital expenditures	5.9	1.8	11.5	4
Corporate & All Other [Member]
Segment Reporting Information [Line Items]
Net sales	50.1	43.4	150.2	71.5
EBITDA	(20.3)	(25.9)	(89.3)	(95.3)
Depreciation and amortization	6.9	7.4	21.7	19.6
Capital expenditures	4	4	10.1	23
Eliminations [Member]
Segment Reporting Information [Line Items]
Net sales	(65.5)	(59.4)	(190.6)	(173.1)
Eliminations [Member] | Performance Foodservice [Member]
Segment Reporting Information [Line Items]
Net sales	2.8	2.6	7.9	5.7
Eliminations [Member] | PFG Customized [Member]
Segment Reporting Information [Line Items]
Net sales	0.1	0.1	0.3	0.8
Eliminations [Member] | Vistar [Member]
Segment Reporting Information [Line Items]
Net sales	0.7	0.7	1.9	1.9
Eliminations [Member] | Corporate & All Other [Member]
Segment Reporting Information [Line Items]
Net sales	61.9	56	180.5	164.7
Operating Segments [Member] | Performance Foodservice [Member]
Segment Reporting Information [Line Items]
Net sales	2,522.2	2,408.2	7,684.6	7,202.8
Operating Segments [Member] | PFG Customized [Member]
Segment Reporting Information [Line Items]
Net sales	960.3	1,036.3	2,744.6	2,837.1
Operating Segments [Member] | Vistar [Member]
Segment Reporting Information [Line Items]
Net sales	820.2	750.5	2,455.9	2,229.9
Operating Segments [Member] | Corporate & All Other [Member]
Segment Reporting Information [Line Items]
Net sales	$ 112	$ 99.4	$ 330.7	$ 236.2

Segment Information - Summary A

Segment Information - Summary Assets by Reportable Segment, Excluding Intercompany Receivables (Detail) - USD ($) $ in Millions	Mar. 31, 2018	Jul. 01, 2017
Segment Reporting Information [Line Items]
Total assets	$ 3,932.5	$ 3,804.1
Performance Foodservice [Member]
Segment Reporting Information [Line Items]
Total assets	2,230.9	2,161.2
PFG Customized [Member]
Segment Reporting Information [Line Items]
Total assets	660	667.1
Vistar [Member]
Segment Reporting Information [Line Items]
Total assets	731.6	654.5
Corporate & All Other [Member]
Segment Reporting Information [Line Items]
Total assets	$ 310	$ 321.3

Stock-based Compensation - Addi

Stock-based Compensation - Additional Information (Detail) - USD ($) shares in Millions, $ in Millions	Dec. 07, 2017	Mar. 31, 2018	Dec. 30, 2017	Apr. 01, 2017	Mar. 31, 2018	Apr. 01, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation expense					$ 18	$ 12.1
Income tax benefit		$ (11.1)		$ (12.1)	19.2	$ (34.7)
2007 Option Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Income tax benefit					$ 15.4
2007 Option Plan [Member] | Tranche Two and Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock vested	2.1
Options vested	1.4
Accelerated compensation expense			$ 6.3
Stock compensation expense			$ 24.9