Company: SYY
Filing Date: 2025-01-29
Form Type: 10-Q
Source: 0000096021-25-000010
Chunk: 57

Company: SYSCO CORP
Filing Date: 2025-01-29
Form: 10-Q
Item: Item 1
Chunk 57
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 — 23 — 23 Change in marketable securities— — — 1 1 Balance as of Dec. 28, 2024$(494)$(14)$(884)$(4)$(1,396) 26-Week Period Ended Dec. 30, 2023 Foreign Currency TranslationHedging,net of taxPension and Other Postretirement Benefit Plans,net of taxMarketable Securities, net of taxTotal (In millions)Balance as of Jul. 1, 2023$(374)$(32)$(840)$(7)$(1,253)Equity adjustment from foreign currency translation55 — — — 55 Amortization of cash flow hedges— 4 — — 4 Change in net investment hedges— (17)— — (17)Change in cash flow hedges— 7 — — 7 Amortization of unrecognized net actuarial losses— — 10 — 10 Net actuarial gain arising in the current year— — 1 — 1 Change in marketable securities— — — 3 3 Balance as of Dec. 30, 2023$(319)$(38)$(829)$(4)$(1,190)

 10.  SHARE-BASED COMPENSATION

Sysco provides compensation benefits to employees under several share-based payment arrangements, including various long-term employee stock incentive plans and the 2015 Employee Stock Purchase Plan (ESPP).Stock Incentive PlansIn the first 26 weeks of fiscal 2025, options to purchase 733,352 shares were granted to employees. The fair value of each option award is estimated as of the date of grant using a Black-Scholes option pricing model. The weighted average grant-date fair value per option granted during the first 26 weeks of fiscal 2025 was $18.50.

23

In the first 26 weeks of fiscal 2025, employees were granted 466,716 performance share units (PSUs). Based on the jurisdiction in which the employee resides, some of these PSUs were granted with forfeitable dividend equivalents. The fair value of each PSU award granted with a dividend equivalent is based on the company’s stock price as of the date of grant. For PSUs granted without dividend equivalents, the fair value was reduced by the present value of expected dividends during the vest