Company: SYY
Filing Date: 2025-08-22
Form Type: 10-K
Source: 0000096021-25-000099
Chunk: 9

Company: SYSCO CORP
Filing Date: 2025-08-22
Form: 10-K
Item: Item 8
Chunk 9
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’s review of the significant assumptions described above. We also tested controls over management’s review of the data used in their valuation models.To test the estimated fair value of the two reporting units, we performed audit procedures that included, among others, assessing methodologies and testing the significant assumptions discussed above and the underlying data used by the Company in its analysis. We compared projected cash flows to the Company’s historical cash flows and other available industry information. We involved our valuation specialists to assist in reviewing the valuation methodology and testing the weighted average cost of capital. We assessed the historical accuracy of management’s estimates and performed sensitivity analyses of significant assumptions to evaluate the changes in the fair value of the reporting units that would result from changes in the assumptions. 

/s/ Ernst & Young LLP

We have served as the Company’s auditor since 2002.

Houston, Texas

August 21, 2025

60

Sysco Corporation and its Consolidated Subsidiaries

CONSOLIDATED BALANCE SHEETS

(In millions, except for share data) Jun. 28, 2025Jun. 29, 2024ASSETSCurrent assets  Cash and cash equivalents$1,071 $696 Accounts receivable, less allowances of $17 and $545,502 5,324 Inventories5,053 4,678 Prepaid expenses and other current assets338 323 Income tax receivable4 22 Total current assets11,968 11,043 Plant and equipment at cost, less accumulated depreciation6,084 5,497 Other long-term assets  Goodwill5,231 5,153 Intangibles, less amortization1,080 1,188 Deferred income taxes497 445 Operating lease right-of-use assets, net1,131 923 Other assets783 668 Total other long-term assets8,722 8,377 Total assets$26,774 $24,917 LIABILITIES AND SHAREHOLDERS’ EQUITYCurrent liabilities  Accounts payable$6,512 $6,290 Accrued expenses2,268 2,226 Accrued income taxes51 131 Current operating lease liabilities136 125 Current maturities of long-term debt949 469 Total current liabilities9,916 9,241 Long-term liabilities  Long-term debt12,360 11,513 Deferred income taxes345 345 Long-term operating lease liabilities1