Company: SYY
Filing Date: 2025-01-29
Form Type: 10-Q
Source: 0000096021-25-000010
Chunk: 85

Company: SYSCO CORP
Filing Date: 2025-01-29
Form: 10-Q
Item: Item 1
Chunk 85
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resents due diligence costs.NMRepresents that the percentage change is not meaningful.

EBITDA and Adjusted EBITDA

EBITDA and adjusted EBITDA should not be used as a substitute for the most comparable GAAP measure in assessing Sysco’s overall financial performance for the periods presented. An analysis of any non-GAAP financial measure should be used in conjunction with results presented in accordance with GAAP. See Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Key Performance Indicators” contained in our fiscal 2024 Form 10-K for discussions regarding this non-GAAP performance metric. Set forth below is a reconciliation of actual net earnings to EBITDA and to adjusted EBITDA results for the periods presented (dollars in millions): 

44

13-Week Period Ended Dec. 28, 202413-Week Period Ended Dec. 30, 2023Change in Dollars% ChangeNet earnings (GAAP)$406 $415 $(9)(2.2)%Interest (GAAP)160 150 10 6.7 Income taxes (GAAP)127 130 (3)(2.3)Depreciation and amortization (GAAP)238 219 19 8.7 EBITDA (Non-GAAP)$931 $914 $17 1.9 %Certain Item adjustments:Impact of restructuring and transformational project costs (1)$30 $11 $19 NMImpact of acquisition-related costs (2)8 3 5 NMEBITDA adjusted for Certain Items (Non-GAAP) (3)$969 $928 $41 4.4 %Other expense (income), net (4)19 5 14 NMDepreciation and amortization, as adjusted (Non-GAAP) (5)(205)(188)(17)(9.0)Operating income adjusted for Certain Items (Non-GAAP) $783 $745 $38 5.1 %

(1)Fiscal 2025 and fiscal 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 fiscal 2024 include acquisition and due diligence costs.(3)In arriving at adjusted EBITDA, Sysco does not adjust out interest income