Company: SYY
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000096021-25-000037
Chunk: 51

Company: SYSCO CORP
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 1
Chunk 51
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Cross currency swapsPrepaid expenses and other current assets— 2 Cross currency swapsAccrued expenses9 3 Foreign currency forwardsPrepaid expenses and other current assets2 — Cash Flow Hedges:Fuel swapsPrepaid expenses and other current assets$— $1 Foreign currency forwardsAccrued expenses1 — Fuel swapsAccrued expenses8 2 Fuel swapsOther assets— 1 Fuel swapsOther long-term liabilities1 — Net Investment Hedges:Cross currency swapsPrepaid expenses and other current assets$18 $4 Cross currency swapsOther assets20 — Cross currency swapsAccrued expenses4 — Cross currency swapsOther long-term liabilities43 10 Gains or losses recognized in the consolidated results of operations for cash flow hedging relationships are not significant for each of the periods presented. The location and amount of gains or losses recognized in the consolidated results of operations for fair value hedging relationships for each of the periods, presented on a pretax basis, are as follows:

13

13-Week Period Ended39-Week Period EndedMar. 29, 2025Mar. 30, 2024Mar. 29, 2025Mar. 30, 2024(In millions)Total amounts of income and expense line items presented in the consolidated results of operations in which the effects of fair value hedges are recorded$158 $168 $501 $464 Gain or (loss) on fair value hedging relationships:Interest rate swaps:Hedged items$(35)$8 $(41)$(23)Derivatives designated as hedging instruments24 (11)16 11 Cross currency swaps and foreign currency forwards:Hedged items$(1)$3 $1 $3 Derivatives designated as hedging instruments1 (3)(1)(3)The gains and losses on the fair value hedging relationships associated with the hedged items as disclosed in the table above consist of the following components for each of the periods presented: 13-Week Period Ended39-Week Period EndedMar. 29, 2025Mar. 30, 2024Mar. 29, 2025Mar. 30, 2024(In millions)Interest expense$(10)$(7)$(25)$(10)Increase (decrease) in fair value of debt25 (15)16 12 Foreign currency gain (loss)(1)3 1