Company: SYY
Filing Date: 2025-01-29
Form Type: 10-Q
Source: 0000096021-25-000010
Chunk: 29

Company: SYSCO CORP
Filing Date: 2025-01-29
Form: 10-Q
Item: Item 2
Chunk 29
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 Information 

The summarized financial information of Sysco Corporation (issuer), and certain wholly owned U.S. Broadline subsidiaries (guarantors) (together, the obligor group) is presented on a combined basis with intercompany balances and transactions between entities in the obligor group eliminated. Investments in and equity in the earnings of our non-guarantor subsidiaries, which are not members of the obligor group, have been excluded from the summarized financial information. The obligor group’s amounts due to, amounts due from and transactions with non-guarantor subsidiaries have been presented in separate line items, if they are material to the obligor financials. The following tables include summarized financial information of the obligor group for the periods presented.

Combined Parent and Guarantor Subsidiaries Summarized Balance SheetDec. 28, 2024Jun. 29, 2024(In millions)ASSETSReceivables due from non-obligor subsidiaries$304 $428 Current assets5,681 5,417 Total current assets$5,985 $5,845 Notes receivable from non-obligor subsidiaries $54 $78 Other noncurrent assets4,938 4,714 Total noncurrent assets$4,992 $4,792 LIABILITIESPayables due to non-obligor subsidiaries $218 $215 Other current liabilities 3,098 2,396 Total current liabilities$3,316 $2,611 Notes payable to non-obligor subsidiaries$402 $250 Long-term debt11,004 11,276 Other noncurrent liabilities1,389 1,334 Total noncurrent liabilities$12,795 $12,860 

Combined Parent and Guarantor Subsidiaries Summarized Results of Operations26-Week Period Ended Dec. 28, 2024(In millions)Sales$24,722 Gross profit4,381 Operating income1,280 Interest expense from non-obligor subsidiaries42 Net earnings734 

48

Critical Accounting Estimates

Critical accounting estimates are those that are most important to the portrayal of our financial position and results of operations. These require our most subjective or complex judgments, often employing the use of estimates about the effect of matters that are inherently uncertain. We have reviewed with the Audit Committee of the Board of Directors the development and selection of the critical accounting estimates and this related disclosure. Our most critical accounting estimates pertain to goodwill