Company: SYY
Filing Date: 2025-01-29
Form Type: 10-Q
Source: 0000096021-25-000010
Chunk: 51

Company: SYSCO CORP
Filing Date: 2025-01-29
Form: 10-Q
Item: Item 1
Chunk 51
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 Accumulated Other Comprehensive Income into IncomeAmount of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income into Income(In millions)(In millions)Derivatives in cash flow hedging relationships:Fuel swaps$10 Operating expense$3 Foreign currency contracts(1)Cost of sales / Other income— Total$9 $3 Derivatives in net investment hedging relationships:Cross currency contracts$(22)N/A$— 

16

The location and carrying amount of hedged liabilities in the consolidated balance sheet as of December 28, 2024 are as follows:Dec. 28, 2024Carrying Amount of Hedged Assets (Liabilities)Cumulative Amount of Fair Value Hedging Adjustments Included in the Carrying Amount of Hedged Assets (Liabilities)(In millions)Balance sheet location:Long-term debt$(489)$3 The carrying amount of hedged liabilities in the consolidated balance sheet as of June 29, 2024 is $498 million.

7.  DEBT

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. As of December 28, 2024, there were no borrowings outstanding under this facility.We have 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 amounts are classified within long-term debt, as the program is supported by the long-term revolving credit facility. As of December 28, 2024, there were $498 million in commercial paper issuances outstanding under this program. We also have a commercial paper program in Europe with borrowings not to exceed €250 million. As of December 28, 2024, there were €145 million (the equivalent of $151 million) in commercial paper issuances outstanding under this program.The total carrying value of our debt was $12.6 billion as of December 28, 2024 and $12.0 billion as of June 29, 2024. The increase in the carrying value of our debt during the 26-week period ended December 28, 2024 was due to new commercial paper issuances and new leases in support of plant and equipment.Information regarding the guarantors of our registered debt securities is contained in the section captioned Guarantor Summarized