Company: SYY
Filing Date: 2025-08-22
Form Type: 10-K
Source: 0000096021-25-000099
Chunk: 34

Company: SYSCO CORP
Filing Date: 2025-08-22
Form: 10-K
Item: Item 8
Chunk 34
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$2 $2 Derivatives designated as hedging instruments(2)(2)The gains and losses on the fair value hedging relationships associated with the hedged items as disclosed in the table above are comprised of the following components for each of the periods presented:Jun. 28, 2025Jun. 29, 2024(In millions)Interest expense$(40)$(18)Increase in fair value of debt(25)(6)Foreign currency gain2 2 Hedged items$(63)$(22)

81

The location and effect of cash flow and net investment hedge accounting on the consolidated statements of comprehensive income for the fiscal years ended June 28, 2025 and June 29, 2024, presented on a pretax basis, are as follows:2025Amount 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$(7)Operating expense$11 Derivatives in net investment hedging relationships:Cross currency contracts$(65)N/A$— Derivatives in fair value hedging relationships:Change in excluded component of fair value hedge$(2)Other expense (income)$— 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$23 Operating expense$(1)Derivatives in net investment hedging relationships:Cross currency contracts$(5)N/A$— Derivatives in fair value hedging relationships:Change in excluded component of fair value hedge$2 Other expense (income)$— 

82

The location and carrying amount of hedged liabilities in the consolidated balance sheet as of June 28, 2025 are as follows:Jun. 28, 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$(1,069)