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Supplemental Guarantor Information - Subsidiary Guarantees (Tables)
 6 Months Ended
Dec. 29, 2018
Guarantees [Abstract]  
Condensed consolidating balance sheet table
The following condensed consolidating financial statements present separately the financial position, comprehensive income and cash flows of the parent issuer (Sysco Corporation), the guarantors (certain 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 Consolidated Balance Sheet
 
Dec. 29, 2018
 
Sysco
 
Certain U.S.
 Broadline
Subsidiaries
 
Other
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Totals
 
(In thousands)
Current assets
$
138,324

 
$
4,087,103

 
$
4,212,356

 
$
—

 
$
8,437,783

Intercompany receivables
7,062,518

 
110,889

 
2,433,329

 
(9,606,736
)
 
—

Investment in subsidiaries
5,864,415

 
—

 
1,210,579

 
(7,074,994
)
 
—

Plant and equipment, net
254,187

 
2,122,911

 
1,998,452

 
—

 
4,375,550

Other assets
745,923

 
684,276

 
4,465,022

 
(514,378
)
 
5,380,843

Total assets
$
14,065,367

 
$
7,005,179

 
$
14,319,738

 
$
(17,196,108
)
 
$
18,194,176

Current liabilities
$
1,211,568

 
$
928,505

 
$
4,610,097

 
$
—

 
$
6,750,170

Intercompany payables
2,514,212

 
2,535,827

 
4,556,697

 
(9,606,736
)
 
—

Long-term debt
7,593,478

 
9,605

 
416,763

 
—

 
8,019,846

Other liabilities
578,475

 
536,378

 
620,692

 
(514,378
)
 
1,221,167

Noncontrolling interest
—

 
—

 
35,357

 
—

 
35,357

Shareholders’ equity
2,167,634

 
2,994,864

 
4,080,132

 
(7,074,994
)
 
2,167,636

Total liabilities and shareholders’ equity
$
14,065,367

 
$
7,005,179

 
$
14,319,738

 
$
(17,196,108
)
 
$
18,194,176


 
Condensed Consolidated Balance Sheet
 
Jun. 30, 2018
 
Sysco
 
Certain U.S.
 Broadline
Subsidiaries
 
Other
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Totals
 
(In thousands)
Current assets
$
157,994

 
$
4,018,444

 
$
3,827,015

 
$
—

 
$
8,003,453

Intercompany receivables
6,621,438

 
270,748

 
5,793,352

 
(12,685,538
)
 
—

Investment in subsidiaries
4,896,004

 
—

 
983,625

 
(5,879,629
)
 
—

Plant and equipment, net
278,855

 
2,181,576

 
2,061,229

 
—

 
4,521,660

Other assets
788,473

 
611,004

 
4,593,537

 
(447,723
)
 
5,545,291

Total assets
$
12,742,764

 
$
7,081,772

 
$
17,258,758

 
$
(19,012,890
)
 
$
18,070,404

Current liabilities
$
1,233,541

 
$
886,305

 
$
4,468,900

 
$
—

 
$
6,588,746

Intercompany payables
882,487

 
3,798,134

 
8,004,917

 
(12,685,538
)
 
—

Long-term debt
7,470,334

 
8,285

 
62,146

 
—

 
7,540,765

Other liabilities
649,445

 
508,387

 
686,178

 
(447,723
)
 
1,396,287

Noncontrolling interest
—

 
—

 
37,649

 
—

 
37,649

Shareholders’ equity
2,506,957

 
1,880,661

 
3,998,968

 
(5,879,629
)
 
2,506,957

Total liabilities and shareholders’ equity
$
12,742,764

 
$
7,081,772

 
$
17,258,758

 
$
(19,012,890
)
 
$
18,070,404


 
Condensed Consolidated Balance Sheet
 
Dec. 30, 2017
 
Sysco
 
Certain U.S.
 Broadline
Subsidiaries
 
Other
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Totals
 
(In thousands)
Current assets
$
189,553

 
$
3,803,349

 
$
4,279,266

 
$
—

 
$
8,272,168

Intercompany receivables
2,945,188

 
1,276,341

 
—

 
(4,221,529
)
 
—

Investment in subsidiaries
7,623,839

 
—

 
—

 
(7,623,839
)
 
—

Plant and equipment, net
262,790

 
2,018,365

 
2,085,137

 
—

 
4,366,292

Other assets
965,800

 
55,820

 
4,559,290

 
—

 
5,580,910

Total assets
$
11,987,170

 
$
7,153,875

 
$
10,923,693

 
$
(11,845,368
)
 
$
18,219,370

Current liabilities
$
540,008

 
$
3,781,141

 
$
1,661,821

 
$
—

 
$
5,982,970

Intercompany payables
—

 
—

 
4,221,529

 
(4,221,529
)
 
—

Long-term debt
8,239,844

 
6,995

 
65,650

 
—

 
8,312,489

Other liabilities
938,716

 
87,230

 
595,839

 
—

 
1,621,785

Noncontrolling interest
—

 
—

 
33,524

 
—

 
33,524

Shareholders’ equity
2,268,602

 
3,278,509

 
4,345,330

 
(7,623,839
)
 
2,268,602

Total liabilities and shareholders’ equity
$
11,987,170

 
$
7,153,875

 
$
10,923,693

 
$
(11,845,368
)
 
$
18,219,370
Condensed consolidating statement of comprehensive income table
 
Condensed Consolidated Statement of Comprehensive Income
 
For the 13-Week Period Ended Dec. 29, 2018
 
Sysco
 
Certain U.S.
 Broadline
Subsidiaries
 
Other
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Totals
 
(In thousands)
Sales
$
—

 
$
9,101,114

 
$
6,329,665

 
$
(665,072
)
 
$
14,765,707

Cost of sales
—

 
7,381,785

 
5,277,282

 
(665,072
)
 
11,993,995

Gross profit
—

 
1,719,329

 
1,052,383

 
—

 
2,771,712

Operating expenses
232,621

 
1,035,676

 
1,051,520

 
—

 
2,319,817

Operating income (loss)
(232,621
)
 
683,653

 
863

 
—

 
451,895

Interest expense (income) (1)
63,491

 
(8,920
)
 
32,542

 
—

 
87,113

Other expense (income), net
3,772

 
(86
)
 
6,511

 
—

 
10,197

Earnings (losses) before income taxes
(299,884
)
 
692,659

 
(38,190
)
 
—

 
354,585

Income tax (benefit) provision
(73,057
)
 
170,960

 
(10,698
)
 
—

 
87,205

Equity in earnings of subsidiaries
494,207

 
—

 
128,030

 
(622,237
)
 
—

Net earnings
267,380

 
521,699

 
100,538

 
(622,237
)
 
267,380

Other comprehensive income (loss)
(73,564
)
 
—

 
(101,533
)
 
101,533

 
(73,564
)
Comprehensive income
$
193,816

 
$
521,699

 
$
(995
)
 
$
(520,704
)
 
$
193,816

 

(1) 
Interest expense (income) includes $8.9 million of intercompany interest income, net, for certain of the U.S. Broadline subsidiaries, which is intercompany interest expense for Sysco Corporation for the second quarter ended December 29, 2018. There is an immaterial amount of intercompany interest expense related to Sysco Corporation for the Other Non-Guarantor Subsidiaries.

 
Condensed Consolidated Statement of Comprehensive Income
 
For the 13-Week Period Ended Dec. 30, 2017
 
Sysco
 
Certain U.S.
 Broadline
Subsidiaries
 
Other
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Totals
 
(In thousands)
Sales
$
—

 
$
8,754,169

 
$
6,169,239

 
$
(511,918
)
 
$
14,411,490

Cost of sales
—

 
7,102,287

 
5,121,735

 
(511,918
)
 
11,712,104

Gross profit
—

 
1,651,882

 
1,047,504

 
—

 
2,699,386

Operating expenses
203,892

 
993,440

 
973,502

 
—

 
2,170,834

Operating income (loss)
(203,892
)
 
658,442

 
74,002

 
—

 
528,552

Interest expense (income) (1)
108,768

 
(27,955
)
 
5,173

 
—

 
85,986

Other expense (income), net
(10,122
)
 
69

 
891

 
—

 
(9,162
)
Earnings (losses) before income taxes
(302,538
)
 
686,328

 
67,938

 
—

 
451,728

Income tax (benefit) provision
(120,315
)
 
262,822

 
25,108

 
—

 
167,615

Equity in earnings of subsidiaries
466,336

 
—

 
—

 
(466,336
)
 
—

Net earnings
284,113

 
423,506

 
42,830

 
(466,336
)
 
284,113

Other comprehensive income (loss)
26,551

 
—

 
19,254

 
(19,254
)
 
26,551

Comprehensive income
$
310,664

 
$
423,506

 
$
62,084

 
$
(485,590
)
 
$
310,664


(1) 
Interest expense (income) includes $28.0 million of intercompany interest income, net, for certain of the U.S. Broadline subsidiaries, which is intercompany interest expense for Sysco Corporation for the second quarter ended December 30, 2017. There is an immaterial amount of intercompany interest expense related to Sysco Corporation for the Other Non-Guarantor Subsidiaries.

 
Condensed Consolidated Statement of Comprehensive Income
 
For the 26-Week Period Ended Dec. 29, 2018
 
Sysco
 
Certain U.S.
 Broadline
Subsidiaries
 
Other
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Totals
 
(In thousands)
Sales
$
—

 
$
18,580,920

 
$
12,563,823

 
$
(1,163,757
)
 
$
29,980,986

Cost of sales
—

 
15,041,886

 
10,427,360

 
(1,163,757
)
 
24,305,489

Gross profit
—

 
3,539,034

 
2,136,463

 
—

 
5,675,497

Operating expenses
452,902

 
2,088,027

 
2,054,533

 
—

 
4,595,462

Operating income (loss)
(452,902
)
 
1,451,007

 
81,930

 
—

 
1,080,035

Interest expense (income) (1)
104,905

 
(30,459
)
 
101,683

 
—

 
176,129

Other expense (income), net
10,372

 
(140
)
 
1,097

 
—

 
11,329

Earnings (losses) before income taxes
(568,179
)
 
1,481,606

 
(20,850
)
 
—

 
892,577

Income tax (benefit) provision
(166,645
)
 
367,404

 
(6,604
)
 
—

 
194,155

Equity in earnings of subsidiaries
1,099,956

 
—

 
222,371

 
(1,322,327
)
 
—

Net earnings
698,422

 
1,114,202

 
208,125

 
(1,322,327
)
 
698,422

Other comprehensive income (loss)
(115,138
)
 
—

 
(126,460
)
 
126,460

 
(115,138
)
Comprehensive income
$
583,284

 
$
1,114,202

 
$
81,665

 
$
(1,195,867
)
 
$
583,284

 

(1) 
Interest expense (income) includes $30.5 million of intercompany interest income, net, for certain of the U.S. Broadline subsidiaries, which is intercompany interest expense for Sysco Corporation. There is an immaterial amount of intercompany interest expense related to Sysco Corporation for the Other Non-Guarantor Subsidiaries.

 
Condensed Consolidated Statement of Comprehensive Income
 
For the 26-Week Period Ended Dec. 30, 2017
 
Sysco
 
Certain U.S.
 Broadline
Subsidiaries
 
Other
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Totals
 
(In thousands)
Sales
$
—

 
$
17,775,826

 
$
12,289,551

 
$
(1,003,463
)
 
$
29,061,914

Cost of sales
—

 
14,377,711

 
10,194,612

 
(1,003,463
)
 
23,568,860

Gross profit
—

 
3,398,115

 
2,094,939

 
—

 
5,493,054

Operating expenses
406,848

 
1,999,593

 
1,938,696

 
—

 
4,345,137

Operating income (loss)
(406,848
)
 
1,398,522

 
156,243

 
—

 
1,147,917

Interest expense (income) (1)
207,764

 
(51,306
)
 
10,412

 
—

 
166,870

Other expense (income), net
(18,829
)
 
854

 
838

 
—

 
(17,137
)
Earnings (losses) before income taxes
(595,783
)
 
1,448,974

 
144,993

 
—

 
998,184

Income tax (benefit) provision
(216,273
)
 
512,383

 
50,321

 
—

 
346,431

Equity in earnings of subsidiaries
1,031,263

 
—

 
—

 
(1,031,263
)
 
—

Net earnings
651,753

 
936,591

 
94,672

 
(1,031,263
)
 
651,753

Other comprehensive income (loss)
146,709

 
—

 
140,583

 
(140,583
)
 
146,709

Comprehensive income
$
798,462

 
$
936,591

 
$
235,255

 
$
(1,171,846
)
 
$
798,462


(1) 
Interest expense (income) includes $51.3 million of intercompany interest income, net, for certain of the U.S. Broadline subsidiaries, which is intercompany interest expense for Sysco Corporation. There is an immaterial amount of intercompany interest expense related to Sysco Corporation for the Other Non-Guarantor Subsidiaries.
Condensed consolidating cash flows table
 
Condensed Consolidated Cash Flows
 
For the 26-Week Period Ended Dec. 29, 2018
 
Sysco
 
Certain U.S.
 Broadline
Subsidiaries
 
Other
Non-Guarantor
Subsidiaries
 
Elimination (1)
 
Consolidated
Totals
 
(In thousands)
Cash flows provided by (used for):
 
 
 
 
 
 
 
 
 
Operating activities
$
485,875

 
$
100,079

 
$
331,836

 
$
—

 
$
917,790

Investing activities
432,730

 
(85,254
)
 
(66,591
)
 
(497,897
)
 
(217,012
)
Financing activities
(912,101
)
 
(2,819
)
 
(93,709
)
 
497,897

 
(510,732
)
Effect of exchange rates on cash
—

 
—

 
(8,904
)
 
—

 
(8,904
)
Net increase in cash, cash equivalents and restricted cash
6,504

 
12,006

 
162,632

 
—

 
181,142

Cash, cash equivalents and restricted cash at the beginning of period
29,144

 
111,843

 
574,857

 
—

 
715,844

Cash, cash equivalents and restricted cash at the end of period
$
35,648

 
$
123,849

 
$
737,489

 
$
—

 
$
896,986


(1) 
Represents primarily intercompany loans between the subsidiaries and the parent, Sysco Corporation.

 
Condensed Consolidated Cash Flows
 
For the 26-Week Period Ended Dec. 30, 2017
 
Sysco
 
Certain U.S.
 Broadline
Subsidiaries
 
Other
Non-Guarantor
Subsidiaries
 
Elimination (1)
 
Consolidated
Totals
 
(In thousands)
Cash flows provided by (used for):
 
 
 
 
 
 
 
 
 
Operating activities
$
252,770

 
$
195,650

 
$
484,784

 
$
—

 
$
933,204

Investing activities
(104,914
)
 
(112,513
)
 
(332,538
)
 
147,622

 
(402,343
)
Financing activities
(159,309
)
 
(3,890
)
 
893

 
(147,622
)
 
(309,928
)
Effect of exchange rates on cash
—

 
—

 
23,510

 
—

 
23,510

Net increase (decrease) in cash and cash equivalents
(11,453
)
 
79,247

 
176,649

 
—

 
244,443

Cash and cash equivalents at the beginning of period
111,576

 
18,788

 
739,138

 
—

 
869,502

Cash and cash equivalents at the end of period
$
100,123

 
$
98,035

 
$
915,787

 
$
—

 
$
1,113,945


(1) 
Represents primarily intercompany loans between the subsidiaries and the parent, Sysco Corporation.