Company: SYY
Filing Date: 2025-08-22
Form Type: 10-K
Source: 0000096021-25-000099
Chunk: 159

Company: SYSCO CORP
Filing Date: 2025-08-22
Form: 10-K
Item: Item 7
Chunk 159
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 accordance with GAAP. See “Key Performance Indicators” for further discussion regarding this non-GAAP financial measure. Set forth below is a reconciliation of actual net earnings (loss) to EBITDA and to adjusted EBITDA results for the periods presented (dollars in millions):

20252024Change in Dollars% ChangeNet earnings (GAAP)$1,828 $1,955 $(127)(6.5)%Interest (GAAP)635 607 28 4.6 Income taxes (GAAP)587 610 (23)(3.8)Depreciation and amortization (GAAP)945 873 72 8.2 EBITDA (Non-GAAP)$3,995 $4,045 $(50)(1.2)%Certain Item adjustments:Impact of restructuring and transformational project costs (1)179 116 63 54.3 Impact of acquisition-related costs (2)27 31 (4)(12.9)Impact of goodwill impairment92 — 92 NMEBITDA adjusted for Certain Items (Non-GAAP) (3)$4,293 $4,192 $101 2.4 %Other expense (income), net, as adjusted (Non-GAAP) 38 30 8 26.7 Depreciation and amortization, as adjusted (Non-GAAP) (4)(808)(741)(67)(9.0)Operating income adjusted for Certain Items (Non-GAAP) $3,523 $3,481 $42 1.2 %(1)Fiscal 2025 and 2024 include charges related to restructuring and severance, as well as various transformation initiative costs, primarily consisting of supply chain transformation costs and changes to our business technology strategy, excluding charges related to accelerated depreciation.(2)Fiscal 2025 and 2024 include acquisition and due diligence costs.(3)In arriving at adjusted EBITDA, Sysco does not exclude interest income of $29 million and $38 million or non-cash stock compensation expense of $93 million and $104 million for fiscal 2025 and fiscal 2024, respectively.(4)Fiscal 2025 includes $945 million in GAAP depreciation and amortization expense, less $137 million of Non-GAAP depreciation and amortization expense primarily related to acquisitions. Fiscal 2024 includes $873 million in GAAP depreciation and amortization expense, less $132 million of