Company: SYY
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0000096021-25-000157
Chunk: 35

Company: SYSCO CORP
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 1
Chunk 35
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2025Jun. 28, 2025(In millions)Fair Value Hedges:Interest rate swapsPrepaid expenses and other current assets$3 $— Interest rate swapsOther assets31 31 Interest rate swapsAccrued expenses— 1 Cash Flow Hedges:Fuel swapsPrepaid expenses and other current assets$5 $— Fuel swapsOther assets2 — Fuel swapsAccrued expenses1 7 Fuel swapsOther long-term liabilities— 2 Net Investment Hedges:Cross currency swapsPrepaid expenses and other current assets$15 $11 Cross currency swapsOther assets63 55 Cross currency swapsAccrued expenses3 2 Cross currency swapsOther long-term liabilities128 134 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:

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13-Week Period EndedSep. 27, 2025Sep. 28, 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$200 $166 Gain or (loss) on fair value hedging relationships:Interest rate swaps:Hedged items$(19)$(33)Derivatives designated as hedging instruments3 25 Cross currency swaps and foreign currency forwards:Hedged items$— $(4)Derivatives designated as hedging instruments— 4 The gains and losses on the fair value hedging relationships associated with the hedged items as disclosed in the table above consist of the following components for each of the periods presented: 13-Week Period EndedSep. 27, 2025Sep. 28, 2024(In millions)Interest expense$(15)$(8)(Increase) decrease in fair value of debt(4)(25)Foreign currency gain (loss)— (4)Hedged items$(19)$(37)The location and effect of cash flow, net investment, and excluded components of fair value hedges on the consolidated statements of comprehensive income for the 13-week periods ended September 27, 2025 and September 28, 2024, presented on a pretax basis, are as follows:

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13-Week Period Ended Sep