Company: SYY
Filing Date: 2025-01-29
Form Type: 10-Q
Source: 0000096021-25-000010
Chunk: 49

Company: SYSCO CORP
Filing Date: 2025-01-29
Form: 10-Q
Item: Item 1
Chunk 49
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 Fuel swapsOther long-term liabilities2 — Net Investment Hedges:Cross currency swapsOther current assets$4 $4 Cross currency swapsOther long-term liabilities5 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:

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13-Week Period Ended26-Week Period EndedDec. 28, 2024Dec. 30, 2023Dec. 28, 2024Dec. 30, 2023(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$179 $155 $344 $296 Gain or (loss) on fair value hedging relationships:Interest rate swaps:Hedged items$26 $(30)$(6)$(30)Derivatives designated as hedging instruments(32)22 (8)22 Cross currency swaps and foreign currency forwards:Hedged items$5 $(3)$2 $— Derivatives designated as hedging instruments(6)3 (2)— The gains and losses on the fair value hedging relationships associated with the hedged items as disclosed in the table above consist of the following components for each of the periods presented: 13-Week Period Ended26-Week Period EndedDec. 28, 2024Dec. 30, 2023Dec. 28, 2024Dec. 30, 2023(In millions)Interest expense$(8)$(3)$(15)$(3)Increase (decrease) in fair value of debt(34)27 (9)27 Foreign currency gain (loss)5 (3)2 — Hedged items$31 $(33)$(4)$(30)The location and effect of cash flow, net investment, and excluded components of fair value hedges on the consolidated statements of comprehensive income for the 13-week periods ended December 28, 2024 and December 30, 2023, presented on a pretax basis, are as follows:

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13-Week Period Ended Dec. 28, 2024Amount of Gain or (Loss) Recognized in Other Comprehensive Income on