Debt and Other Financing Arrangements (Tables)

12 Months Ended

Jun. 27, 2015

Sysco’s debt consists of the following:



	June 27, 2015			June 28, 2014
	(In thousands)
Commercial paper, interest averaging 0.2% as of June 28, 2014	$	—		$	129,999
Senior notes, interest at 0.55%, maturing in fiscal 2015	—			299,015
Senior notes, interest at 5.25%, maturing in fiscal 2018 ⁽¹⁾	502,608			502,521
Senior notes, interest at 5.375%, maturing in fiscal 2019 ⁽¹⁾	248,824			248,509
Senior notes, interest at 2.6%, maturing in fiscal 2022 ⁽¹⁾	444,212			443,384
Debentures, interest at 7.16%, maturing in fiscal 2027 ⁽²⁾	50,000			50,000
Debentures, interest at 6.5%, maturing in fiscal 2029 ⁽¹⁾	223,610			223,505
Senior notes, interest at 5.375%, maturing in fiscal 2036 ⁽¹⁾	496,775			495,636
Senior notes, interest at 6.625%, maturing in fiscal 2039 ⁽¹⁾	244,415			244,180
Senior notes, interest at 1.45%, maturing in fiscal 2018 ^{(1), (3)}	500,801			—
Senior notes, interest at 2.35% maturing in fiscal 2020 ^{(1), (3)}	752,070			—
Senior notes, interest at 3.00% , maturing in fiscal 2022 ^{(1), (3)}	745,136			—
Senior notes, interest at 3.50% , maturing in fiscal 2025 ^{(1), (3)}	1,239,116			—
Senior notes, interest at 4.35%, maturing in fiscal 2035 ^{(1), (3)}	742,664			—
Senior notes, interest at 4.50%, maturing in fiscal 2045 ^{(1), (3)}	981,813			—
Notes payable, capital leases, and other debt, interest averaging 2.81% and maturing at various dates to fiscal 2026 as of June 27, 2015 and 2.59% and maturing at various dates to fiscal 2029 as of June 28, 2014	149,833			96,333
Total debt	7,321,877			2,733,082
Less current maturities of long-term debt	(4,979,301		)	(304,777		)
Less notes payable	(70,751		)	(70,975		)
Net long-term debt	$	2,271,825		$	2,357,330

⁽¹⁾ Represents senior notes that are unsecured, are not subject to any sinking fund requirement and include a redemption provision that allows Sysco to retire the debentures and notes at any time prior to maturity at the greater of par plus accrued interest or an amount designed to ensure that the debenture and note holders are not penalized by the early redemption.

⁽²⁾ This debenture is not subject to any sinking fund requirement and is no longer redeemable prior to maturity.

⁽³⁾ Represents senior notes that were redeemed in July 2015 under a mandatory redemption feature.

The senior notes were classified as current maturities of long-term debt as of June 27, 2015. Details of the senior notes are below:



Maturity Date	Par Value (in millions)		Coupon Rate		Pricing (percentage of par)
October 2, 2017	$	500	1.45	%	99.962	%
October 2, 2019		750	2.35		99.864
October 2, 2021		750	3.00		99.781
October 2, 2024		1,250	3.50		99.616
October 2, 2034		750	4.35		99.841
October 2, 2044		1,000	4.50		98.992

Long-term debt principal payments for the next five years table

As of June 27, 2015, the principal payments required to be made during the next five fiscal years on long-term debt, excluding notes payable and commercial paper, are shown below:



	Amount
	(In thousands)
2016	$	5,007,943
2017	29,140
2018	506,694
2019	269,532
2020	3,387