Company: SYY
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000096021-25-000037
Chunk: 47

Company: SYSCO CORP
Filing Date: 2025-04-30
Form: 10-Q
Item: Item 1
Chunk 47
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 certain non-food products, including textiles and amenities for our hotel supply business, other janitorial products, and medical supplies.

4.  FAIR VALUE MEASUREMENTS

Sysco’s policy is to invest only in high-quality investments. The fair values of our cash deposits and money market funds included in cash equivalents are valued using inputs that are considered a Level 1 measurement. Other cash equivalents, such as time deposits and highly liquid instruments with original maturities of three months or less, are valued using inputs that are considered a Level 2 measurement. The fair value of our marketable securities is measured using inputs that are considered a Level 2 measurement, as they rely on quoted prices in markets that are not actively traded or observable inputs over the full term of the asset. The location and the fair value of the company’s marketable securities in the consolidated balance sheet are disclosed in Note 5, “Marketable Securities.” The fair value of our derivative instruments is measured using inputs that are considered a Level 2 measurement, as they are not actively traded and are valued using pricing models that use observable market quotations. The location and the fair values of derivative assets and liabilities designated as hedges in the consolidated balance sheet are disclosed in Note 6, “Derivative Financial Instruments.”

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The following tables present our assets measured at fair value on a recurring basis as of March 29, 2025 and June 29, 2024: Assets Measured at Fair Value as of Mar. 29, 2025 Level 1Level 2Level 3Total (In millions)Assets:Cash equivalentsCash and cash equivalents$1,098 $— $— $1,098 Other assets (1)37 — — 37 Total assets at fair value$1,135 $— $— $1,135 (1)Represents restricted cash balance recorded within other assets in the consolidated balance sheet. Assets Measured at Fair Value as of Jun. 29, 2024 Level 1Level 2Level 3Total (In millions)Assets:Cash equivalentsCash and cash equivalents$269 $— $— $269 Other assets (1)249 — — 249 Total assets at fair value$518 $— $— $518 (1)Represents restricted cash balance recorded within other assets in the consolidated balance sheet.

The carrying values of accounts receivable and accounts payable