SUPPLEMENTAL GUARANTOR INFORMATION - SUBSIDIARY GUARANTEES

On January 19, 2011, the wholly owned U.S. Broadline subsidiaries of Sysco Corporation entered into full and unconditional guarantees of all outstanding senior notes and debentures of Sysco Corporation. Borrowings under the company’s revolving credit facility supporting the company’s U.S. and Canadian commercial paper programs are also covered under these guarantees. As of March 26, 2016, Sysco had a total of $4.4 billion in senior notes, debentures and commercial paper outstanding that was covered by these guarantees.

All subsidiary guarantors are 100% owned by the parent company, all guarantees are full and unconditional and all guarantees are joint and several, except that the guarantee of any subsidiary guarantor with respect to a series of senior notes or debentures may be released under certain customary circumstances. If we exercise our defeasance option with respect to the senior notes or debentures of any series, then any subsidiary guarantor effectively will be released with respect to that series. Further, each subsidiary guarantee 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.

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
	Mar. 26, 2016
	Sysco		Certain U.S. Broadline Subsidiaries			Other Non-Guarantor Subsidiaries			Eliminations			Consolidated Totals
	(In thousands)
Current assets	$	271,185	$	3,995,180		$	2,693,668		$	—		$	6,960,033
Investment in subsidiaries	9,989,219		249,270			(429,592		)	(9,808,897		)	—
Plant and equipment, net	460,989		1,607,870			1,831,611			—			3,900,470
Other assets	1,638		590,248			1,898,705			—			2,490,591
Total assets	$	10,723,031	$	6,442,568		$	5,994,392		$	(9,808,897	)	$	13,351,094
Current liabilities	$	553,741	$	(209,098	)	$	3,767,429		$	—		$	4,112,072
Intercompany payables (receivables)	1,530,408		(766,374		)	(764,034		)	—			—
Long-term debt	4,080,728		69,426			124,730			—			4,274,884
Other liabilities	610,479		265,785			41,514			—			917,778
Noncontrolling interest	—		—			76,929			—			76,929
Shareholders’ equity	3,947,675		7,082,829			2,747,824			(9,808,897		)	3,969,431
Total liabilities and shareholders’ equity	$	10,723,031	$	6,442,568		$	5,994,392		$	(9,808,897	)	$	13,351,094



	Condensed Consolidating Balance Sheet
	June 27, 2015
	Sysco		Certain U.S. Broadline Subsidiaries			Other Non-Guarantor Subsidiaries		Eliminations			Consolidated Totals
	(In thousands)
Current assets	$	4,894,387	$	4,012,924		$	2,586,993	$	—		$	11,494,304
Investment in subsidiaries	9,088,455		—			—		(9,088,455		)	—
Plant and equipment, net	510,285		1,694,659			1,777,199		—			3,982,143
Other assets	371,802		522,566			1,618,466		—			2,512,834
Total assets	$	14,864,929	$	6,230,149		$	5,982,658	$	(9,088,455	)	$	17,989,281
Current liabilities	$	5,851,364	$	1,658,558		$	1,889,693	$	—		$	9,399,615
Intercompany payables (receivables)	973,497		(1,996,915		)	1,023,418		—			—
Long-term debt	2,154,923		10,121			106,781		—			2,271,825
Other liabilities	624,795		278,458			113,060		—			1,016,313
Noncontrolling interest	—		—			41,304		—			41,304
Shareholders’ equity	5,260,350		6,279,927			2,808,402		(9,088,455		)	5,260,224
Total liabilities and shareholders’ equity	$	14,864,929	$	6,230,149		$	5,982,658	$	(9,088,455	)	$	17,989,281



	Condensed Consolidating Balance Sheet
	Mar. 28, 2015
	Sysco		Certain U.S. Broadline Subsidiaries			Other Non-Guarantor Subsidiaries		Eliminations			Consolidated Totals
	(In thousands)
Current assets	$	4,853,790	$	4,139,132		$	2,528,385	$	—		$	11,521,307
Investment in subsidiaries	8,412,290		—			—		(8,412,290		)	—
Plant and equipment, net	499,446		1,712,902			1,757,913		—			3,970,261
Other assets	353,870		520,816			1,577,891		—			2,452,577
Total assets	$	14,119,396	$	6,372,850		$	5,864,189	$	(8,412,290	)	$	17,944,145
Current liabilities	$	866,116	$	946,754		$	2,526,986	$	—		$	4,339,856
Intercompany payables (receivables)	193,947		(566,285		)	372,338		—			—
Long-term debt	7,135,765		16,630			83,546		—			7,235,941
Other liabilities	610,682		303,901			101,153		—			1,015,736
Noncontrolling interest	—		—			39,729		—			39,729
Shareholders’ equity	5,312,886		5,671,850			2,740,437		(8,412,290		)	5,312,883
Total liabilities and shareholders’ equity	$	14,119,396	$	6,372,850		$	5,864,189	$	(8,412,290	)	$	17,944,145



	Condensed Consolidating Statement of Comprehensive Income
	For the 13-Week Period Ended Mar. 26, 2016
	Sysco			Certain U.S. Broadline Subsidiaries			Other Non-Guarantor Subsidiaries			Eliminations			Consolidated Totals
	(In thousands)
Sales	$	—		$	8,081,741		$	4,305,318		$	(384,268	)	$	12,002,791
Cost of sales	—			6,556,356			3,687,878			(384,268		)	9,859,966
Gross profit	—			1,525,385			617,440			—			2,142,825
Operating expenses	257,953			942,577			564,677			—			1,765,207
Operating income (loss)	(257,953		)	582,808			52,763			—			377,618
Interest expense (income)	80,266			(39,749		)	17,182			—			57,699
Other expense (income), net	(3,153		)	(588		)	(3,211		)	—			(6,952		)
Earnings (losses) before income taxes	(335,066		)	623,145			38,792			—			326,871
Income tax (benefit) provision	(112,343		)	209,079			12,999			—			109,735
Equity in earnings of subsidiaries	439,859			—			—			(439,859		)	—
Net earnings	217,136			414,066			25,793			(439,859		)	217,136
Other comprehensive income (loss)	57,132			—			48,738			(48,738		)	57,132
Comprehensive income	$	274,268		$	414,066		$	74,531		$	(488,597	)	$	274,268



	Condensed Consolidating Statement of Comprehensive Income
	For the 13-Week Period Ended Mar. 28, 2015
	Sysco			Certain U.S. Broadline Subsidiaries			Other Non-Guarantor Subsidiaries			Eliminations			Consolidated Totals
	(In thousands)
Sales	$	—		$	7,887,203		$	4,199,743		$	(340,287	)	$	11,746,659
Cost of sales	—			6,431,528			3,597,920			(340,287		)	9,689,161
Gross profit	—			1,455,675			601,823			—			2,057,498
Operating expenses	226,901			919,183			584,106			—			1,730,190
Operating income (loss)	(226,901		)	536,492			17,717			—			327,308
Interest expense (income)	84,578			(28,121		)	13,093			—			69,550
Other expense (income), net	1,583			(1,997		)	(8,163		)	—			(8,577		)
Earnings (losses) before income taxes	(313,062		)	566,610			12,787			—			266,335
Income tax (benefit) provision	(105,941		)	191,160			4,161			—			89,380
Equity in earnings of subsidiaries	384,076			—			—			(384,076		)	—
Net earnings	176,955			375,450			8,626			(384,076		)	176,955
Other comprehensive income (loss)	(91,484		)	—			(97,890		)	97,890			(91,484		)
Comprehensive income	$	85,471		$	375,450		$	(89,264	)	$	(286,186	)	$	85,471



	Condensed Consolidating Statement of Comprehensive Income
	For the 39-Week Period Ended Mar. 26, 2016
	Sysco			Certain U.S. Broadline Subsidiaries			Other Non-Guarantor Subsidiaries			Eliminations			Consolidated Totals
	(In thousands)
Sales	$	—		$	24,805,364		$	13,125,059		$	(1,211,395	)	$	36,719,028
Cost of sales	—			20,138,552			11,254,237			(1,211,395		)	30,181,394
Gross profit	—			4,666,812			1,870,822			—			6,537,634
Operating expenses	663,804			2,838,705			1,731,450			—			5,233,959
Operating income (loss)	(663,804		)	1,828,107			139,372			—			1,303,675
Interest expense (income)	296,681			(119,751		)	54,911			—			231,841
Other expense (income), net	(13,066		)	(1,417		)	(15,473		)	—			(29,956		)
Earnings (losses) before income taxes	(947,419		)	1,949,275			99,934			—			1,101,790
Income tax (benefit) provision	(316,299		)	650,770			33,364			—			367,835
Equity in earnings of subsidiaries	1,365,075			—			—			(1,365,075		)	—
Net earnings	733,955			1,298,505			66,570			(1,365,075		)	733,955
Other comprehensive income (loss)	(64,904		)	—			(179,111		)	179,111			(64,904		)
Comprehensive income	$	669,051		$	1,298,505		$	(112,541	)	$	(1,185,964	)	$	669,051



	Condensed Consolidating Statement of Comprehensive Income
	For the 39-Week Period Ended Mar. 28, 2015
	Sysco			Certain U.S. Broadline Subsidiaries			Other Non-Guarantor Subsidiaries			Eliminations			Consolidated Totals
	(In thousands)
Sales	$	—		$	24,237,503		$	13,071,370		$	(1,030,059	)	$	36,278,814
Cost of sales	—			19,780,796			11,196,725			(1,030,059		)	29,947,462
Gross profit	—			4,456,707			1,874,645			—			6,331,352
Operating expenses	674,410			2,764,515			1,784,060			—			5,222,985
Operating income (loss)	(674,410		)	1,692,192			90,585			—			1,108,367
Interest expense (income)	228,973			(74,096		)	22,649			—			177,526
Other expense (income), net	1,103			(2,761		)	(6,900		)	—			(8,558		)
Earnings (losses) before income taxes	(904,486		)	1,769,049			74,836			—			939,399
Income tax (benefit) provision	(313,552		)	613,261			25,943			—			325,652
Equity in earnings of subsidiaries	1,204,681			—			—			(1,204,681		)	—
Net earnings	613,747			1,155,788			48,893			(1,204,681		)	613,747
Other comprehensive income (loss)	(277,477		)	—			(260,997		)	260,997			(277,477		)
Comprehensive income	$	336,270		$	1,155,788		$	(212,104	)	$	(943,684	)	$	336,270



	Condensed Consolidating Cash Flows
	For the 39-Week Period Ended Mar. 26, 2016
	Sysco			Certain U.S. Broadline Subsidiaries			Other Non-Guarantor Subsidiaries			Consolidated Totals
	(In thousands)
Cash flows provided by (used for):
Operating activities	$	(485,524	)	$	(377,988	)	$	1,852,493		$	988,981
Investing activities	58,442			(133,141		)	(307,636		)	(382,335		)
Financing activities	(5,171,619		)	52,399			19,477			(5,099,743		)
Effect of exchange rates on cash	—			—			(26,109		)	(26,109		)
Intercompany activity	931,696			471,256			(1,402,952		)	—
Net increase (decrease) in cash and cash equivalents	(4,667,005		)	12,526			135,273			(4,519,206		)
Cash and cash equivalents at the beginning of period	4,851,067			26,380			252,597			5,130,044
Cash and cash equivalents at the end of period	$	184,062		$	38,906		$	387,870		$	610,838



	Condensed Consolidating Cash Flows
	For the 39-Week Period Ended Mar. 28, 2015
	Sysco			Certain U.S. Broadline Subsidiaries			Other Non-Guarantor Subsidiaries			Consolidated Totals
	(In thousands)
Cash flows provided by (used for):
Operating activities	$	(293,008	)	$	975,552		$	177,955		$	860,499
Investing activities	(93,183		)	(84,810		)	(293,862		)	(471,855		)
Financing activities	4,314,029			795			45,639			4,360,463
Effect of exchange rates on cash	—			—			(77,449		)	(77,449		)
Intercompany activity	699,467			(893,979		)	194,512			—
Net increase (decrease) in cash and cash equivalents	4,627,305			(2,442		)	46,795			4,671,658
Cash and cash equivalents at the beginning of period	158,953			27,772			226,321			413,046
Cash and cash equivalents at the end of period	$	4,786,258		$	25,330		$	273,116		$	5,084,704