Company: SYY
Filing Date: 2025-08-22
Form Type: 10-K
Source: 0000096021-25-000099
Chunk: 22

Company: SYSCO CORP
Filing Date: 2025-08-22
Form: 10-K
Item: Item 8
Chunk 22
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 activities. These primarily include cash paid for shares withheld to cover taxes from share-based compensation and debt issuance costs.

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The following table sets forth the company’s reconciliation of cash, cash equivalents and restricted cash reported within the Consolidated Statement of Cash Flows that sum to the total of the same such amounts shown in the consolidated balance sheets:Jun. 28, 2025Jun. 29, 2024Jul. 1, 2023(In millions)Cash and cash equivalents$1,071 $696 $745 Restricted cash (1)277 249 221 Total cash, cash equivalents and restricted cash shown in the Consolidated Statement of Cash Flows$1,348 $945 $966 (1)Restricted cash primarily represents cash and cash equivalents of the Captive which is restricted for use to secure the insurer’s obligations for workers’ compensation, general liability and auto liability programs. Restricted cash is located within other assets in each consolidated balance sheet.The following table sets forth the company’s non-cash investing and financing activities: Jun. 28, 2025Jun. 29, 2024Jul. 1, 2023(In millions)Non-cash investing and financing activities:Plant and equipment acquired through financing programs$281 $402 $197 Assets obtained in exchange for finance lease obligations202 115 114 

2.  NEW ACCOUNTING STANDARDS

Recent Accounting Guidance AdoptedSegment ReportingIn November 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-07, Segment Reporting (Topic 280), Improvements to Reportable Segment Disclosures to improve reportable segment disclosure requirements through enhanced disclosures about significant segment expenses. ASU 2023-07 expands public entities’ segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss, an amount and description of its composition for other segment items and interim disclosures of a reportable segment’s profit or loss and assets. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, (our fiscal 2025), and interim periods for our fiscal years beginning after December 15, 2024, (our first quarter of fiscal 2026), and should be applied on a retrospective basis to all periods presented. Sysco adopted ASU 2023-07 effective with our fiscal