Company: SYY
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000096021-25-000037
Chunk: 90

Company: SYSCO CORP
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 1
Chunk 90
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AAP depreciation and amortization expense primarily related to acquisitions.

39-Week Period Ended Mar. 29, 202539-Week Period Ended Mar. 30, 2024Change in Dollars% ChangeNet earnings (GAAP)$1,297 $1,343 $(46)(3.4)%Interest (GAAP)469 442 27 6.1 Income taxes (GAAP)402 418 (16)(3.8)Depreciation and amortization (GAAP)709 647 62 9.6 EBITDA (Non-GAAP)$2,877 $2,850 $27 0.9 %Certain Item adjustments:Impact of restructuring and transformational project costs (1)104 56 48 85.7 Impact of acquisition-related costs (2)24 22 2 9.1 EBITDA adjusted for Certain Items (Non-GAAP) (3)$3,005 $2,928 $77 2.6 %Other expense (income), net32 23 9 39.1 Depreciation and amortization, as adjusted (Non-GAAP) (4)(609)(553)(56)(10.1)Operating income adjusted for Certain Items (Non-GAAP) $2,428 $2,398 $30 1.3 %

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(1)Fiscal 2025 and 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 2024 include acquisition and due diligence costs.(3)In arriving at adjusted EBITDA, Sysco does not exclude interest income of $22 million and $28 million or non-cash stock compensation expense of $74 million and $77 million for fiscal 2025 and fiscal 2024, respectively.(4)Fiscal 2025 includes $709 million in GAAP depreciation and amortization expense, less $100 million of Non-GAAP depreciation and amortization expense primarily related to acquisitions. Fiscal 2024 includes $647 million in GAAP depreciation and amortization expense, less $94 million of Non-GAAP depreciation and amortization expense primarily related to acquisitions.

Projected Adjusted Earnings Per Share Guidance

Adjusted earnings per share is a non-GAAP financial measure; however, we cannot predict with certainty