Company: SYY
Filing Date: 2025-10-29
Form Type: 10-Q
Source: 0000096021-25-000157
Chunk: 32

Company: SYSCO CORP
Filing Date: 2025-10-29
Form: 10-Q
Item: Item 1
Chunk 32
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 liabilities designated as hedges in the consolidated balance sheet are disclosed in Note 6, “Derivative Financial Instruments.”

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The following tables present our assets measured at fair value on a recurring basis as of September 27, 2025 and June 28, 2025: Assets Measured at Fair Value as of Sep. 27, 2025 Level 1Level 2Level 3Total (In millions)Assets:Cash and cash equivalents$340 $— $— $340 Restricted cash283 — — 283 Total assets at fair value$623 $— $— $623  Assets 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 

The carrying values of accounts receivable and accounts payable approximated their respective fair values due to their short-term maturities. The fair value of our 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 $13.1 billion as of September 27, 2025 and $12.8 billion as of June 28, 2025, while the carrying value was $13.4 billion as of September 27, 2025 and $13.3 billion as of June 28, 2025. 

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5.  MARKETABLE SECURITIES

Sysco invests a portion of the assets held by its 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. We include fixed income securities maturing in less than 12 months within prepaid expenses and other current assets. Fixed income securities maturing in more than 12 months are included within other assets in the accompanying consolidated balance sheets. We record the amounts at fair market value, which is determined using quoted market prices at the end of the reporting period. Unrealized gains and any portion of a security’s unrealized loss attributable to non-credit losses are recorded in accumulated other comprehensive loss. There were