Company: SYY
Filing Date: 2025-08-22
Form Type: 10-K
Source: 0000096021-25-000099
Chunk: 160

Company: SYSCO CORP
Filing Date: 2025-08-22
Form: 10-K
Item: Item 7
Chunk 160
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 Non-GAAP depreciation and amortization expense primarily related to acquisitions.NMRepresents that the percentage change is not meaningful.

Liquidity and Capital Resources

Highlights

Below are comparisons of the cash flows from fiscal 2025 to fiscal 2024:

•Cash flows from operations were $2.5 billion in fiscal 2025, compared to $3.0 billion in fiscal 2024;

•Net capital expenditures totaled $692 million in fiscal 2025, compared to $753 million in fiscal 2024;

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•Free cash flow was $1.8 billion in fiscal 2025, compared to $2.2 billion in fiscal 2024 (see “Cash Flows – Free Cash Flow – Non-GAAP Reconciliation” below for an explanation of this non-GAAP financial measure);

•Cash used for acquisition of businesses was $40 million in fiscal 2025, compared to $1.2 billion in fiscal 2024;

•Dividends paid were $1.0 billion in fiscal 2025, and in fiscal 2024; 

•Cash paid for treasury stock repurchases was $1.3 billion in fiscal 2025, compared to $1.2 billion in fiscal 2024;

•We issued senior notes totaling $1.25 billion in fiscal 2025, and totaling $1.0 billion in fiscal 2024; and

•The commercial paper amount outstanding as of the end of fiscal 2025 was $205 million. There were $200 million in commercial paper amounts outstanding as of the end of fiscal 2024.

As of June 28, 2025, there were no borrowings outstanding under our long-term revolving credit facility and the company had approximately $3.8 billion in cash and available liquidity. As of August 5, 2025, the company had approximately $2.7 billion in cash and available liquidity. 

Sources and Uses of Cash

Sysco generates cash in the U.S. and internationally. Sysco’s strategic objectives include continuous investment in our business; these investments are funded primarily by cash from operations and, to a lesser extent, external borrowings. Traditionally, our operations have produced significant cash flow and, due to our strong financial position, we believe that we will continue to be able to effectively access capital markets, as needed. Cash generated from operations is generally allocated to:

•working capital investments;

•capital investments in facilities, systems, fleet, other equipment and technology;