Company: SYY
Filing Date: 2025-08-22
Form Type: 10-K
Source: 0000096021-25-000099
Chunk: 27

Company: SYSCO CORP
Filing Date: 2025-08-22
Form: 10-K
Item: Item 8
Chunk 27
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 location and the fair value of our marketable securities in the consolidated balance sheet are disclosed in Note 6, “Marketable Securities.” The fair value of our derivative instruments is measured using inputs that are considered a Level 2 measurement, as they are not actively traded and are valued using pricing models that use observable market quotations. The location and the fair value of derivative assets and liabilities designated as hedges in the consolidated balance sheet are disclosed in Note 10, “Derivative Financial Instruments.”

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The following tables present our assets measured at fair value on a recurring basis as of June 28, 2025 and June 29, 2024: Assets and Liabilities Measured at Fair Value as of Jun. 28, 2025 Level 1Level 2Level 3Total (In millions)Assets:    Cash and cash equivalents$466 $— $— $466 Restricted cash277 — — 277 Total assets at fair value$743 $— $— $743  Assets and Liabilities Measured at Fair Value as of Jun. 29, 2024 Level 1Level 2Level 3Total (In millions)Assets:    Cash and cash equivalents$269 $— $— $269 Restricted cash249 — — 249 Total assets at fair value$518 $— $— $518 The carrying values of accounts receivable and accounts payable approximated their respective fair values due to their short-term maturities. The fair value of Sysco’s total debt is estimated based on the quoted market prices for the same or similar issues or on the current rates offered to the company for new debt with the same maturities as existing debt and is considered a Level 2 measurement. The fair value of total debt was approximately $12.8 billion and $11.4 billion as of June 28, 2025 and June 29, 2024, respectively. The carrying value of total debt was $13.3 billion and $12.0 billion as of June 28, 2025 and June 29, 2024, respectively.

6.  MARKETABLE SECURITIES

Sysco invests a portion of the assets held by our wholly owned captive insurance subsidiary in a restricted investment portfolio of marketable fixed income securities, which have been classified and accounted for as available-for-sale. The company includes fixed