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QUARTERLY RESULTS (UNAUDITED) (Tables)
12 Months Ended
Jun. 30, 2018
Quarterly Financial Data [Abstract]  
Quarterly results (unaudited) table
Financial information for each quarter in the years ended June 30, 2018 and July 1, 2017 is set forth below:
 
Fiscal 2018 Quarter Ended
 
 
 
September 30
 
December 30
 
March 31 (1)
 
June 30
 
Fiscal Year
 
(In thousands except for per share data)
Sales
$
14,650,424

 
$
14,411,490

 
$
14,349,504

 
$
15,315,906

 
$
58,727,324

Cost of sales
11,856,756

 
11,712,104

 
11,673,876

 
12,399,197

 
47,641,933

Gross profit
2,793,668

 
2,699,386

 
2,675,628

 
2,916,709

 
11,085,391

Operating expenses
2,170,576

 
2,167,104

 
2,189,695

 
2,229,042

 
8,756,417

Operating income
623,092

 
532,282

 
485,933

 
687,667

 
2,328,974

Interest expense
80,884

 
85,986

 
136,145

 
92,468

 
395,483

Other expense (income), net
(4,248
)
 
(5,432
)
 
(15,096
)
 
2,043

 
(22,733
)
Earnings before income taxes
546,456

 
451,728

 
364,884

 
593,156

 
1,956,224

Income taxes
178,816

 
167,615

 
34,799

 
144,228

 
525,458

Net earnings
$
367,640

 
$
284,113

 
$
330,085

 
$
448,928

 
$
1,430,766

Per share:
 
 
 
 
 
 
 
 
 
Basic net earnings
$
0.70

 
$
0.55

 
$
0.63

 
$
0.86

 
$
2.74

Diluted net earnings
0.69

 
0.54

 
0.63

 
0.85

 
2.70

Dividends declared
0.33

 
0.36

 
0.36

 
0.36

 
1.41


(1) 
Sysco’s third quarter of fiscal 2018 included a charge for $53.1 million in interest expense related to the redemption of senior notes as well as tax benefits derived from our $380.0 million contribution to our U.S. Retirement Plan. See Note 11, “Debt and Other Financing Arrangements” and Note 18, “Income Taxes.”


 
Fiscal 2017 Quarter Ended
 
 
 
October 1
 
December 31
 
April 1
 
July 1
 
Fiscal Year
 
(In thousands except for per share data)
Sales
$
13,968,654

 
$
13,457,268

 
$
13,524,172

 
$
14,421,045

 
$
55,371,139

Cost of sales
11,276,735

 
10,885,405

 
10,990,037

 
11,661,455

 
44,813,632

Gross profit
2,691,919

 
2,571,863

 
2,534,135

 
2,759,590

 
10,557,507

Operating expenses
2,125,086

 
2,079,446

 
2,098,173

 
2,201,631

 
8,504,336

Operating income
566,833

 
492,417

 
435,962

 
557,959

 
2,053,171

Interest expense
73,623

 
72,231

 
81,004

 
76,020

 
302,878

Other expense (income), net
(7,216
)
 
(2,320
)
 
(4,815
)
 
(1,586
)
 
(15,937
)
Earnings before income taxes
500,426

 
422,506

 
359,773

 
483,525

 
1,766,230

Income taxes
176,539

 
147,339

 
121,495

 
178,354

 
623,727

Net earnings
$
323,887

 
$
275,167

 
$
238,278

 
$
305,171

 
$
1,142,503

Per share:
 

 
 

 
 

 
 

 
 

Basic net earnings
$
0.58

 
$
0.50

 
$
0.44

 
$
0.57

 
$
2.10

Diluted net earnings
0.58

 
0.50

 
0.44

 
0.57

 
2.08

Dividends declared
0.31

 
0.33

 
0.33

 
0.33

 
1.30