Company: SYY
Filing Date: 2025-08-22
Form Type: 10-K
Source: 0000096021-25-000099
Chunk: 66

Company: SYSCO CORP
Filing Date: 2025-08-22
Form: 10-K
Item: Item 8
Chunk 66
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 12,000,000 shares, of which 11,478,234 remained available as of June 28, 2025.

106

During fiscal 2025, 1,059,763 shares of Sysco common stock were purchased by the participants, as compared to 1,092,062 shares purchased in fiscal 2024 and 1,032,545 shares purchased in fiscal 2023. The weighted average fair value of employee stock purchase rights issued pursuant to the ESPP was $11.46, $10.83 and $11.15 per share during fiscal 2025, 2024 and 2023, respectively. The fair value of the stock purchase rights was calculated as the difference between the stock price at date of issuance and the employee purchase price.All Share-Based Payment ArrangementsThe total share-based compensation cost included in operating expenses in the consolidated results of operations was $93 million, $104 million and $96 million for fiscal 2025, 2024 and 2023, respectively. The expense recognized in fiscal 2025 related to PSUs decreased compared to the prior fiscal year, as the performance metrics are trending below target for awards not yet paid. The total income tax benefit for share-based compensation arrangements was $15 million, $17 million and $16 million for fiscal 2025, 2024 and 2023, respectively.As of June 28, 2025, there was $90 million of total unrecognized share-based compensation cost, which is expected to be recognized over a weighted-average period of 1.7 years.Cash received from option exercises and ESPP participation was $110 million, $120 million and $79 million during fiscal 2025, 2024 and 2023, respectively. The actual tax benefit realized for the tax deductions from option exercises totaled $3 million, $4 million and $2 million during fiscal 2025, 2024 and 2023, respectively.

19.  INCOME TAXES

Income Tax ProvisionsFor financial reporting purposes, earnings before income taxes consists of the following: 202520242023 (In millions)U.S.$2,066 $2,260 $1,941 Foreign349 305 344 Total$2,415 $2,565 $2,285 The income tax provision for each fiscal year consists of the following: 202520242023 (In millions)U.S. federal income taxes$432 $447 $388