Company: SYY
Filing Date: 2025-08-22
Form Type: 10-K
Source: 0000096021-25-000099
Chunk: 37

Company: SYSCO CORP
Filing Date: 2025-08-22
Form: 10-K
Item: Item 8
Chunk 37
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,513 (1)Represents senior notes that are unsecured, are not subject to any sinking fund requirement and include a redemption provision that allows Sysco to retire the debentures and notes at any time prior to maturity at the greater of par plus accrued interest or an amount designed to ensure that the debenture and note holders are not penalized by the early redemption.(2)Represents senior notes, debentures and borrowings under the company’s long-term revolving credit facility that are guaranteed by certain wholly owned U.S. Broadline subsidiaries of Sysco Corporation as discussed in Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Liquidity and Capital Resources.”(3)This debenture is not subject to any sinking fund requirement and is no longer redeemable prior to maturity.

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As of June 28, 2025, the principal and interest payments required to be made during the next five fiscal years on Sysco’s senior notes and debentures are shown below: PrincipalInterest (1)(In millions)2026$750 $543 20271,043 508 2028750 476 2029655 464 20301,500 435 (1)Includes payments on floating rate debt based on rates as of June 28, 2025, assuming amount remains unchanged until maturity, and payments on fixed rate debt based on maturity dates.The total carrying value of our debt was $13.3 billion as of June 28, 2025 and $12.0 billion as of June 29, 2024. The increase in the carrying value of our debt from the prior year was due to new issuances of senior notes, new leases in support of plant and equipment, and new commercial paper issuances.Sysco has a long-term revolving credit facility that includes aggregate commitments of the lenders thereunder of $3.0 billion, with an option to increase such commitments to $4.0 billion. The facility includes a covenant requiring Sysco to maintain a ratio of consolidated EBITDA to consolidated interest expense of 3.0 to 1.0 over four consecutive fiscal quarters. The facility expires on April 29, 2027. As of June 28, 2025, there were no borrowings outstanding under this facility.Sysco has a U.S commercial paper program allowing the company to issue short-term unsecured notes in an aggregate amount not to exceed $3.0 billion. Any outstanding