Supplemental Guarantor Information - Subsidiary Guarantees (Subsidiary Guarantee [Member])

3 Months Ended

Sep. 29, 2012

Subsidiary Guarantee [Member]

Supplemental Guarantor Information - Subsidiary Guarantees [Line Items]

Supplemental Guarantor Information - Subsidiary Guarantees

14.  SUPPLEMENTAL GUARANTOR INFORMATION – SUBSIDIARY GUARANTEES

On January 19, 2011, the wholly-owned United States Broadline (U.S. Broadline) subsidiaries of Sysco Corporation entered into full and unconditional guarantees of all outstanding senior notes and debentures of Sysco Corporation.   As of September 29, 2012, Sysco had a total of $2,975.0 million in senior notes and debentures outstanding that are covered by these guarantees. 

The following condensed consolidating financial statements present separately the financial position, comprehensive income and cash flows of the parent issuer (Sysco Corporation), the guarantors  (the majority of the company’s U.S. Broadline subsidiaries), and all other non‑guarantor subsidiaries of Sysco (Other Non-Guarantor Subsidiaries) on a combined basis with eliminating entries.

	Condensed Consolidating Balance Sheet
	Sept. 29, 2012
	Sysco		U.S.  Broadline   Subsidiaries		Other  Non-Guarantor  Subsidiaries		Eliminations		Consolidated  Totals
					(In thousands)
Current assets	$	411,095	$	3,970,191	$	1,952,364	$	-	$	6,333,650
Investment in subsidiaries		10,609,447		-		-		(10,609,447)		-
Plant and equipment,  net		626,429		2,010,057		1,314,182		-		3,950,668
Other assets		341,778		502,823		1,358,914		-		2,203,515
Total assets	$	11,988,749	$	6,483,071	$	4,625,460	$	(10,609,447)	$	12,487,833
Current liabilities	$	640,071	$	978,653	$	1,984,150	$	-	$	3,602,874
Intercompany payables (receivables)		3,106,736		(3,280,070)		173,334		-		-
Long-term debt		2,714,267		25,482		25,104		-		2,764,853
Other liabilities		840,402		286,330		99,193		-		1,225,925
Shareholders’ equity		4,687,273		8,472,676		2,343,679		(10,609,447)		4,894,181
Total liabilities and  shareholders’ equity	$	11,988,749	$	6,483,071	$	4,625,460	$	(10,609,447)	$	12,487,833

	Condensed Consolidating Balance Sheet
	Jun. 30, 2012
	Sysco		U.S. Broadline Subsidiaries		Other Non-Guarantor Subsidiaries		Eliminations		Consolidated Totals
					(In thousands)
Current assets	$	538,451	$	3,675,676	$	1,870,681	$	-	$	6,084,808
Investment in subsidiaries		10,163,398		-		-		(10,163,398)		-
Plant and equipment,  net		703,658		1,923,925		1,256,167		-		3,883,750
Other assets		324,839		503,357		1,298,218		-		2,126,414
Total assets	$	11,730,346	$	6,102,958	$	4,425,066	$	(10,163,398)	$	12,094,972
Current liabilities	$	678,527	$	900,416	$	1,844,636	$	-	$	3,423,579
Intercompany payables (receivables)		3,068,001		(3,334,860)		266,859		-		-
Long-term debt		2,714,415		25,459		23,814		-		2,763,688
Other liabilities		755,112		367,094		100,459		-		1,222,665
Shareholders’ equity		4,514,291		8,144,849		2,189,298		(10,163,398)		4,685,040
Total liabilities and  shareholders’ equity	$	11,730,346	$	6,102,958	$	4,425,066	$	(10,163,398)	$	12,094,972

	Condensed Consolidating Balance Sheet
	Oct. 1, 2011
	Sysco		U.S. Broadline Subsidiaries		Other Non-Guarantor Subsidiaries		Eliminations		Consolidated Totals
					(In thousands)
Current assets	$	200,076	$	3,803,462	$	1,692,696	$	-	$	5,696,234
Investment in subsidiaries		14,459,412		-		-		(14,459,412)		-
Plant and equipment,  net		593,156		1,853,608		1,168,597		-		3,615,361
Other assets		389,985		518,715		1,226,568		-		2,135,268
Total assets	$	15,642,629	$	6,175,785	$	4,087,861	$	(14,459,412)	$	11,446,863
Current liabilities	$	401,006	$	1,136,886	$	2,040,798	$	-	$	3,578,690
Intercompany payables (receivables)		7,896,806		(7,917,812)		21,006		-		-
Long-term debt		2,335,586		26,517		22,883		-		2,384,986
Other liabilities		504,461		256,630		67,841		-		828,932
Shareholders’ equity		4,504,770		12,673,564		1,935,333		(14,459,412)		4,654,255
Total liabilities and  shareholders’ equity	$	15,642,629	$	6,175,785	$	4,087,861	$	(14,459,412)	$	11,446,863

	Condensed Consolidating Statement of Comprehensive Income
	For the 13-Week Period Ended Sept. 29, 2012
	Sysco		U.S.  Broadline   Subsidiaries		Other  Non-Guarantor  Subsidiaries		Eliminations		Consolidated  Totals
						(In thousands)
Sales	$	-	$	7,636,178	$	3,704,672	$	(253,934)	$	11,086,916
Cost of sales		-		6,144,858		3,166,197		(227,683)		9,083,372
Gross profit		-		1,491,320		538,475		(26,251)		2,003,544
Operating expenses		153,138		914,086		483,789		(26,251)		1,524,762
Operating income (loss)		(153,138)		577,234		54,686		-		478,782
Interest expense (income)		69,612		(38,383)		(361)		-		30,868
Other expense (income), net		(319)		(704)		(1,454)		-		(2,477)
Earnings (losses) before income taxes		(222,431)		616,321		56,501		-		450,391
Income tax (benefit) provision		(80,891)		224,137		20,547		-		163,793
Equity in earnings of subsidiaries		428,138		-		-		(428,138)		-
Net earnings		286,598		392,184		35,954		(428,138)		286,598
Other comprehensive income (loss)		12,731		-		36,160		-		48,891
Comprehensive income	$	299,329	$	392,184	$	72,114	$	(428,138)	$	335,489

	Condensed Consolidating Statement of Comprehensive Income
	For the 13-Week Period Ended Oct. 1, 2011
	Sysco		U.S. Broadline Subsidiaries		Other Non-Guarantor Subsidiaries		Eliminations		Consolidated Totals
						(In thousands)
Sales	$	-	$	7,320,286	$	3,457,058	$	(190,954)	$	10,586,390
Cost of sales		-		5,864,706		2,943,184		(169,100)		8,638,790
Gross profit		-		1,455,580		513,874		(21,854)		1,947,600
Operating expenses		116,963		898,031		445,120		(21,854)		1,438,260
Operating income (loss)		(116,963)		557,549		68,754		-		509,340
Interest expense (income)		96,278		(63,903)		(2,901)		-		29,474
Other expense (income), net		(1,315)		(563)		2,128		-		250
Earnings (losses) before income taxes		(211,926)		622,015		69,527		-		479,616
Income tax (benefit) provision		(78,193)		229,503		25,653		-		176,963
Equity in earnings of subsidiaries		436,386		-		-		(436,386)		-
Net earnings		302,653		392,512		43,874		(436,386)		302,653
Other comprehensive income (loss)		10,118		-		(102,267)		-		(92,149)
Comprehensive income	$	312,771	$	392,512	$	(58,393)	$	(436,386)	$	210,504

	Condensed Consolidating Cash Flows
	For the 13-Week Period Ended Sept. 29, 2012
	Sysco		U.S.  Broadline   Subsidiaries		Other  Non-Guarantor  Subsidiaries		Consolidated  Totals
		(In thousands)
Cash flows provided by (used for):
Operating activities	$	(72,479)	$	160,949	$	124,731	$	213,201
Investing activities		(38,440)		(72,725)		(121,281)		(232,446)
Financing activities		(123,613)		118		(974)		(124,469)
Effect of exchange rates on cash		-		-		3,262		3,262
Intercompany activity		100,332		(87,492)		(12,840)		-
Net increase (decrease) in cash and cash equivalents		(134,200)		850		(7,102)		(140,452)
Cash and cash equivalents at the beginning of period		471,107		34,478		183,282		688,867
Cash and cash equivalents at the end of period	$	336,907	$	35,328	$	176,180	$	548,415

	Condensed Consolidating Cash Flows
	For the 13-Week Period Ended Oct. 1, 2011
	Sysco		U.S.  Broadline Subsidiaries		Other Non-Guarantor Subsidiaries		Consolidated Totals
	(In thousands)
Cash flows provided by (used for):
Operating activities	$	(74,065)	$	234,610	$	94,798	$	255,343
Investing activities		(65,808)		(113,342)		(94,680)		(273,830)
Financing activities		(142,476)		(136)		(183,134)		(325,746)
Effect of exchange rates on cash		-		-		(11,431)		(11,431)
Intercompany activity		111,977		(124,792)		12,815		-
Net increase (decrease) in cash and cash equivalents		(170,372)		(3,660)		(181,632)		(355,664)
Cash and cash equivalents at the beginning of period		305,513		32,154		302,098		639,765
Cash and cash equivalents at the end of period	$	135,141	$	28,494	$	120,466	$	284,101