Company: SYY
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000096021-25-000037
Chunk: 89

Company: SYSCO CORP
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 1
Chunk 89
---
 Performance Indicators” contained in our fiscal 2024 Form 10-K for discussions regarding this non-GAAP performance metric. Set forth below is a reconciliation of actual net earnings to EBITDA and to adjusted EBITDA results for the periods presented (dollars in millions): 

46

13-Week Period Ended Mar. 29, 202513-Week Period Ended Mar. 30, 2024Change in Dollars% ChangeNet earnings (GAAP)$401 $425 $(24)(5.6)%Interest (GAAP)149 158 (9)(5.7)Income taxes (GAAP)122 129 (7)(5.4)Depreciation and amortization (GAAP)238 221 17 7.7 EBITDA (Non-GAAP)$910 $933 $(23)(2.5)%Certain Item adjustments:Impact of restructuring and transformational project costs (1)$49 $27 $22 81.5 %Impact of acquisition-related costs (2)10 17 (7)(41.2)EBITDA adjusted for Certain Items (Non-GAAP) (3)$969 $977 $(8)(0.8)%Other expense (income), net 9 10 (1)(10.0)Depreciation and amortization, as adjusted (Non-GAAP) (4)(205)(188)(17)(9.0)Operating income adjusted for Certain Items (Non-GAAP) $773 $799 $(26)(3.3)%

(1)Fiscal 2025 and fiscal 2024 include charges related to restructuring and severance, as well as various transformation initiative costs, primarily consisting of supply chain transformation costs and changes to our business technology strategy, excluding charges related to accelerated depreciation. (2)Fiscal 2025 and fiscal 2024 include acquisition and due diligence costs.(3)In arriving at adjusted EBITDA, Sysco does not adjust out interest income of $7 million and $7 million or non-cash stock compensation expense of $15 million and $24 million in fiscal 2025 and fiscal 2024, respectively.(4)Fiscal 2025 includes $238 million in GAAP depreciation and amortization expense, less $33 million of Non-GAAP depreciation and amortization expense primarily related to acquisitions. Fiscal 2024 includes $221 million in GAAP depreciation and amortization expense, less $34 million of Non-G