Company: SYY
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000096021-25-000037
Chunk: 53

Company: SYSCO CORP
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 1
Chunk 53
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 relationships:Cross currency contracts$(4)N/A$— Derivatives in fair value hedging relationships:Change in excluded component of fair value hedge$(2)Other expense (income)$— 39-Week Period Ended Mar. 30, 2024Amount of Gain or (Loss) Recognized in Other Comprehensive Income on DerivativesLocation of Gain or (Loss) Reclassified from 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$24 Operating expense$3 Foreign currency contracts— Cost of sales / Other expense (income)— Total$24 $3 Derivatives in net investment hedging relationships:Cross currency contracts$(13)N/A$— 

16

The location and carrying amount of hedged liabilities in the consolidated balance sheet as of March 29, 2025 are as follows:Mar. 29, 2025Carrying 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$(1,060)$22 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 March 29, 2025, 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 March 29, 2025, there were no 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 March 29, 2025, there were €155 million (the equivalent of $169 million) in commercial paper issuances outstanding under this program.On February 25, 2025, Sysco issued senior notes (the Notes) totaling