Company: SYY
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000096021-25-000037
Chunk: 48

Company: SYSCO CORP
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 1
Chunk 48
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 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 $13.0 billion as of March 29, 2025 and $11.4 billion as of June 29, 2024, while the carrying value was $13.5 billion as of March 29, 2025 and $12.0 billion as of June 29, 2024. 

10

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 no significant credit losses recognized in the first 39 weeks of fiscal 2025. The following table presents our available-for-sale marketable securities as of March 29, 2025 and June 29, 2024:Mar. 29, 2025Amortized Cost BasisGross Unrealized GainsGross Unrealized LossesFair ValueShort-Term Marketable SecuritiesLong-Term Marketable Securities(In millions)Fixed income securities:Corporate bonds$103 $— $(2)$101 $15 $86 Government bonds29 — (1)28 — 28 Total marketable securities$132 $— $(3)$129 $15 $114 Jun. 29, 2024Amortized Cost BasisGross Unrealized GainsGross Unrealized LossesFair ValueShort-Term Marketable SecuritiesLong-Term Marketable Securities(In millions)Fixed income securities:Corporate bonds$98 $— $(4)$94 $24 $70 Government bonds34 — (2)32 — 32