Company: SYY
Filing Date: 2025-01-29
Form Type: 10-Q
Source: 0000096021-25-000010
Chunk: 87

Company: SYSCO CORP
Filing Date: 2025-01-29
Form: 10-Q
Item: Item 1
Chunk 87
---
 arriving at adjusted EBITDA, Sysco does not exclude interest income of $14 million and $20 million or non-cash stock compensation expense of $60 million and $53 million for fiscal 2025 and fiscal 2024, respectively.(4)Fiscal 2025 represents $25 million in GAAP other expense (income), net. Fiscal 2024 represents $12 million in GAAP other expense (income), net.(5)Fiscal 2025 includes $473 million in GAAP depreciation and amortization expense, less $66 million of Non-GAAP depreciation and amortization expense primarily related to acquisitions. Fiscal 2024 includes $425 million in GAAP depreciation and amortization expense, less $61 million of Non-GAAP depreciation and amortization expense primarily related to acquisitions.NMRepresents that the percentage change is not meaningful.

Liquidity and Capital Resources

Highlights 

We produced positive free cash flow of $331 million in the first 26 weeks of fiscal 2025, as compared to positive free cash flow of $527 million in the first 26 weeks of fiscal 2024. The decrease in free cash flow is attributable to a decrease in cash provided by operating activities, partially offset by an increase in proceeds from sales of plant and equipment and a decrease in capital expenditures. In the table that follows, free cash flow for each period presented is reconciled to net cash provided by operating activities and comparisons of the significant cash flows from the first 26 weeks of fiscal 2025 to the first 26 weeks of fiscal 2024 are provided. 

 26-Week Period Ended Dec. 28, 202426-Week Period Ended Dec. 30, 2023Source of cash (use of cash)(In millions)Net cash provided by operating activities (GAAP)$498 $856 Additions to plant and equipment(333)(347)Proceeds from sales of plant and equipment166 18 Free Cash Flow (Non-GAAP) (1)$331 $527 Acquisition of businesses, net of cash acquired$(40)$(1,175)Debt borrowings (repayments), net371 1,445 Stock repurchases(300)(200)Dividends paid(503)(506)

(1)Free cash flow should not be used as a substitute for the most comparable GAAP measure in assessing the company’s liquidity for the periods presented. An analysis of any non-GAAP financial measure should be used in conjunction with results presented in accordance