Company: SYY
Filing Date: 2025-08-22
Form Type: 10-K
Source: 0000096021-25-000099
Chunk: 168

Company: SYSCO CORP
Filing Date: 2025-08-22
Form: 10-K
Item: Item 7
Chunk 168
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 that series. Further, each subsidiary guarantee 

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will remain in full force and effect until the earliest to occur of the date, if any, on which (1) the applicable subsidiary guarantor shall consolidate with or merge into Sysco Corporation or any successor of Sysco Corporation or (2) Sysco Corporation or any successor of Sysco Corporation consolidates with or merges into the applicable subsidiary guarantor.

Basis of Preparation of the Summarized Financial Information 

The summarized financial information of Sysco Corporation (issuer), and certain wholly owned U.S. Broadline subsidiaries (guarantors) (together, the obligor group) is presented on a combined basis with intercompany balances and transactions between entities in the obligor group eliminated. Investments in and equity in the earnings of our non-guarantor subsidiaries, which are not members of the obligor group, have been excluded from the summarized financial information. The obligor group’s amounts due to, amounts due from and transactions with non-guarantor subsidiaries have been presented in separate line items, if they are material to the obligor financials. The following table includes summarized financial information of the obligor group for the periods presented. 

Combined Parent and Guarantor Subsidiaries Summarized Balance SheetJun. 28, 2025(In millions)ASSETSReceivables due from non-obligor subsidiaries$377 Current assets6,015 Total current assets$6,392 Notes receivable from non-obligor subsidiaries $20 Other noncurrent assets5,211 Total noncurrent assets$5,231 LIABILITIESPayables due to non-obligor subsidiaries $61 Other current liabilities 3,214 Total current liabilities$3,275 Notes payable to non-obligor subsidiaries$334 Long-term debt11,890 Other noncurrent liabilities1,538 Total noncurrent liabilities$13,762 

Combined Parent and Guarantor Subsidiaries Summarized Results of Operations2025(In millions)Sales$49,558 Gross profit8,822 Operating income2,598 Interest expense from non-obligor subsidiaries32 Net earnings1,495 

Off-Balance Sheet Arrangements

We have no off-balance sheet arrangements.

Critical Accounting Estimates

The preparation of financial statements in conformity with U.S. generally accepted accounting principles (GAAP) requires us to make estimates and assumptions that affect the reported amounts of assets, liabilities, sales and expenses in the accompanying