Company: SYY
Filing Date: 2025-08-22
Form Type: 10-K
Source: 0000096021-25-000099
Chunk: 44

Company: SYSCO CORP
Filing Date: 2025-08-22
Form: 10-K
Item: Item 8
Chunk 44
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 Life Insurance policies on the lives of participants and interests in corporate-owned real estate assets. These assets are not included as plan assets or in the funded status amounts in the tables above and below. The life insurance policies on the lives of the participants had carrying values of $87 million and $91 million as of June 28, 2025 and June 29, 2024, respectively. Sysco is the sole owner and beneficiary of such policies.

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The amounts recognized on Sysco’s consolidated balance sheets related to its company-sponsored defined benefit plans are as follows: U.S. Pension BenefitsInternational Pension Benefits Jun. 28, 2025Jun. 29, 2024Jun. 28, 2025Jun. 29, 2024 (In millions)Current accrued benefit liability (Accrued expenses)$(32)$(32)$(2)$(2)Noncurrent accrued benefit liability (Other long-term liabilities)(413)(363)(96)(135)Net amount recognized$(445)$(395)$(98)$(137)Accumulated other comprehensive loss as of June 28, 2025 consists of the following amounts that had not, as of that date, been recognized in net benefit cost: U.S. Pension BenefitsInternational Pension BenefitsTotal (In millions)Prior service cost$3 $2 $5 Actuarial losses1,181 83 1,264 Total$1,184 $85 $1,269 Accumulated other comprehensive loss as of June 29, 2024 consists of the following amounts that had not, as of that date, been recognized in net benefit cost: U.S. Pension BenefitsInternational Pension BenefitsTotal (In millions)Prior service cost$2 $1 $3 Actuarial losses 1,160 111 1,271 Total$1,162 $112 $1,274 Information for plans with accumulated benefit obligation/aggregate benefit obligation in excess of fair value of plan assets is as follows: U.S. Pension Benefits (1)International Pension Benefits Jun. 28, 2025Jun. 29, 2024Jun. 28, 2025Jun. 29, 2024 (In millions)Accumulated benefit obligation/aggregate benefit obligation$2,970 $2,888 $300 $291 Fair value of plan assets at end of year2,534 2,