Company: SYY
Filing Date: 2025-08-22
Form Type: 10-K
Source: 0000096021-25-000099
Chunk: 33

Company: SYSCO CORP
Filing Date: 2025-08-22
Form: 10-K
Item: Item 8
Chunk 33
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 cash flow hedges.

79

None of our hedging instruments contain credit-risk-related contingent features. Details of outstanding hedging instruments as of June 28, 2025 are presented below:Maturity Date of the Hedging InstrumentCurrency / Unit of MeasureNotional Value(In millions)Hedging of interest rate riskJanuary 2034U.S. Dollar500March 2035U.S. Dollar550Hedging of foreign currency riskJanuary 2029Euro470September 2030Euro670September 2030Canadian Dollar998Hedging of fuel riskVarious (March 2025 to February 2027)Gallons77The location and the fair value of derivative instruments designated as hedges in the consolidated balance sheet as of June 28, 2025 and June 29, 2024 are as follows: Derivative Fair Value Balance Sheet locationJun. 28, 2025Jun. 29, 2024(In millions)Fair Value Hedges:Interest rate swapsOther assets$31 $6 Interest rate swapsAccrued expenses1 1 Cross currency swapsPrepaid expenses and other current assets— 2 Cross currency swapsAccrued expenses— 3 Cash Flow Hedges:Fuel swapsPrepaid expenses and other current assets$— $1 Fuel swapsOther assets— 1 Fuel swapsAccrued expenses7 2 Fuel swapsOther long-term liabilities2 — Net Investment Hedges:Cross currency swapsPrepaid expenses and other current assets$11 $4 Cross currency swapsOther assets55 — Cross currency swapsAccrued expenses2 — Cross currency swapsOther long-term liabilities134 10 

80

Gains or losses recognized in the consolidated results of operations for cash flow hedging relationships are not significant for each of the periods presented. The location and amount of gains or losses recognized in the consolidated results of operations for fair value hedging relationships for each of the periods, presented on a pretax basis, are as follows:Jun. 28, 2025Jun. 29, 2024(In millions)Total amounts of income and expense line items presented in the consolidated results of operations in which the effects of fair value hedges are recorded$673 $637 Gain or (loss) on fair value hedging relationships:Interest rate swaps:Hedged items$(65)$(24)Derivatives designated as hedging instruments24 6 Cross currency swaps:Hedged items