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SUPPLEMENTAL GUARANTOR INFORMATION - SUBSIDIARY GUARANTEES (Tables)
 12 Months Ended
Jun. 29, 2019
Organization, Consolidation and Presentation of Financial Statements [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
 
Jun. 29, 2019
 
Sysco
 
Certain U.S.
 Broadline
Subsidiaries
 
Other
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Totals
 
(In thousands)
Current assets
$
121,993

 
$
4,195,543

 
$
3,823,969

 
$
—

 
$
8,141,505

Intercompany receivables
6,162,303

 
30,469

 
3,220,237

 
(9,413,009
)
 
—

Investment in subsidiaries
4,680,530

 
—

 
1,126,315

 
(5,806,845
)
 
—

Plant and equipment, net
252,101

 
2,162,668

 
2,086,936

 
—

 
4,501,705

Other assets
787,986

 
718,600

 
4,372,725

 
(555,999
)
 
5,323,312

Total assets
$
12,004,913

 
$
7,107,280

 
$
14,630,182

 
$
(15,775,853
)
 
$
17,966,522

Current liabilities
$
465,101

 
$
1,018,650

 
$
4,619,432

 
$
—

 
$
6,103,183

Intercompany payables
686,116

 
3,443,182

 
5,283,711

 
(9,413,009
)
 
—

Long-term debt
7,668,314

 
7,938

 
445,806

 
—

 
8,122,058

Other liabilities
682,779

 
545,391

 
531,081

 
(555,999
)
 
1,203,252

Noncontrolling interest
—

 
—

 
35,426

 
—

 
35,426

Shareholders’ equity
2,502,603

 
2,092,119

 
3,714,726

 
(5,806,845
)
 
2,502,603

Total liabilities and shareholders’ equity
$
12,004,913

 
$
7,107,280

 
$
14,630,182

 
$
(15,775,853
)
 
$
17,966,522


 
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 consolidating statement of comprehensive income table
 
Condensed Consolidated Statement of Comprehensive Income
 
For the 52-Week Period Ended Jun. 29, 2019
 
Sysco
 
Certain U.S.
 Broadline
Subsidiaries
 
Other
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Totals
 
(In thousands)
Sales
$
—

 
$
37,453,729

 
$
25,002,655

 
$
(2,342,462
)
 
$
60,113,922

Cost of sales
—

 
30,282,665

 
20,764,732

 
(2,342,462
)
 
48,704,935

Gross profit
—

 
7,171,064

 
4,237,923

 
—

 
11,408,987

Operating expenses
861,914

 
4,163,261

 
4,053,662

 
—

 
9,078,837

Operating income (loss)
(861,914
)
 
3,007,803

 
184,261

 
—

 
2,330,150

Interest expense (income) (1)
193,457

 
(104,341
)
 
271,307

 
—

 
360,423

Other expense (income), net
(38,360
)
 
(489
)
 
2,740

 
—

 
(36,109
)
Earnings (losses) before income taxes
(1,017,011
)
 
3,112,633

 
(89,786
)
 
—

 
2,005,836

Income tax (benefit) provision
(454,578
)
 
792,542

 
(6,399
)
 
—

 
331,565

Equity in earnings of subsidiaries
2,236,704

 
—

 
464,701

 
(2,701,405
)
 
—

Net earnings
1,674,271

 
2,320,091

 
381,314

 
(2,701,405
)
 
1,674,271

Other comprehensive income (loss)
(190,460
)
 
—

 
(119,126
)
 
119,126

 
(190,460
)
Comprehensive income
$
1,483,811

 
$
2,320,091

 
$
262,188

 
$
(2,582,279
)
 
$
1,483,811


(1) 
Interest expense (income) includes $104.3 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 Consolidated Statement of Comprehensive Income
 
For the 52-Week Period Ended Jun. 30, 2018
 
Sysco
 
Certain U.S.
 Broadline
Subsidiaries
 
Other
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Totals
 
(In thousands)
Sales
$
—

 
$
35,963,053

 
$
24,784,842

 
$
(2,020,571
)
 
$
58,727,324

Cost of sales
—

 
29,102,278

 
20,560,226

 
(2,020,571
)
 
47,641,933

Gross profit
—

 
6,860,775

 
4,224,616

 
—

 
11,085,391

Operating expenses
804,202

 
4,007,565

 
3,959,568

 
—

 
8,771,335

Operating income (loss)
(804,202
)
 
2,853,210

 
265,048

 
—

 
2,314,056

Interest expense (income) (1)
294,401

 
(110,715
)
 
211,797

 
—

 
395,483

Other expense (income), net
(39,503
)
 
2,270

 
(418
)
 
—

 
(37,651
)
Earnings (losses) before income taxes
(1,059,100
)
 
2,961,655

 
53,669

 
—

 
1,956,224

Income tax (benefit) provision
(135,385
)
 
655,824

 
5,019

 
—

 
525,458

Equity in earnings of subsidiaries
2,354,481

 
—

 
—

 
(2,354,481
)
 
—

Net earnings
1,430,766

 
2,305,831

 
48,650

 
(2,354,481
)
 
1,430,766

Other comprehensive income (loss)
89,913

 
—

 
(22,987
)
 
22,987

 
89,913

Comprehensive income
$
1,520,679

 
$
2,305,831

 
$
25,663

 
$
(2,331,494
)
 
$
1,520,679


(1) 
Interest expense (income) includes $110.7 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 52-Week Period Ended Jul. 1, 2017
 
Sysco
 
Certain U.S.
 Broadline
Subsidiaries
 
Other
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Totals
 
(In thousands)
Sales
$
—

 
$
34,325,884

 
$
22,862,131

 
$
(1,816,876
)
 
$
55,371,139

Cost of sales
—

 
27,690,469

 
18,940,039

 
(1,816,876
)
 
44,813,632

Gross profit
—

 
6,635,415

 
3,922,092

 
—

 
10,557,507

Operating expenses
935,472

 
3,903,183

 
3,664,236

 
—

 
8,502,891

Operating income (loss)
(935,472
)
 
2,732,232

 
257,856

 
—

 
2,054,616

Interest expense (income) (1)
405,030

 
(122,012
)
 
19,860

 
—

 
302,878

Other expense (income), net
(27,713
)
 
3,530

 
9,691

 
—

 
(14,492
)
Earnings (losses) before income taxes
(1,312,789
)
 
2,850,714

 
228,305

 
—

 
1,766,230

Income tax (benefit) provision
(463,598
)
 
1,006,703

 
80,622

 
—

 
623,727

Equity in earnings of subsidiaries
1,991,694

 
—

 
—

 
(1,991,694
)
 
—

Net earnings
1,142,503

 
1,844,011

 
147,683

 
(1,991,694
)
 
1,142,503

Other comprehensive income (loss)
95,381

 
—

 
(9,317
)
 
9,317

 
95,381

Comprehensive income
$
1,237,884

 
$
1,844,011

 
$
138,366

 
$
(1,982,377
)
 
$
1,237,884



(1) 
Interest expense (income) includes $122.0 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 52-Week Period Ended Jun. 29, 2019
 
Sysco
 
Certain U.S.
 Broadline
Subsidiaries
 
Other
Non-Guarantor
Subsidiaries
 
Elimination (1)
 
Consolidated
Totals
 
(In thousands)
Cash flows provided by (used for):
 
 
 
 
 
 
 
 
 
Operating activities
$
1,683,417

 
$
1,755,756

 
$
1,092,034

 
$
(2,120,000
)
 
$
2,411,207

Investing activities
544,149

 
(263,029
)
 
(440,743
)
 
(583,232
)
 
(742,855
)
Financing activities
(2,226,842
)
 
(1,486,927
)
 
(826,737
)
 
2,703,232

 
(1,837,274
)
Effect of exchange rates on cash
—

 
—

 
(14,677
)
 
—

 
(14,677
)
Net increase (decrease) in cash, cash equivalents and restricted cash
724

 
5,800

 
(190,123
)
 
—

 
(183,599
)
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
$
29,868

 
$
117,643

 
$
384,734

 
$
—

 
$
532,245



(1) 
Represents primarily inter-company dividends paid from the subsidiaries to the parent, Sysco Corporation, partially offset by intercompany loans issued.

 
Condensed Consolidated Cash Flows
 
For the 52-Week Period Ended Jun. 30, 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
$
1,051,976

 
$
2,548,139

 
$
799,062

 
$
(2,243,797
)
 
$
2,155,380

Investing activities
58,864

 
(439,178
)
 
(503,745
)
 
(26,354
)
 
(910,413
)
Financing activities
(1,193,272
)
 
(2,015,906
)
 
(471,442
)
 
2,270,151

 
(1,410,469
)
Effect of exchange rates on cash
—

 
—

 
11,844

 
—

 
11,844

Net increase (decrease) in cash, cash equivalents and restricted cash
(82,432
)
 
93,055

 
(164,281
)
 
—

 
(153,658
)
Cash, cash equivalents and restricted cash at the beginning of period
111,576

 
18,788

 
739,138

 
—

 
869,502

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

 
$
111,843

 
$
574,857

 
$
—

 
$
715,844



(1) 
Represents primarily inter-company dividends paid from the subsidiaries to the parent, Sysco Corporation.

 
Condensed Consolidated Cash Flows
 
For the 52-Week Period Ended Jul. 1, 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
$
1,523,519

 
$
3,028,819

 
$
658,229

 
$
(2,978,000
)
 
$
2,232,567

Investing activities
(3,267,779
)
 
(261,330
)
 
(175,565
)
 
127,000

 
(3,577,674
)
Financing activities
(1,525,995
)
 
(2,777,661
)
 
(229,931
)
 
2,851,000

 
(1,682,587
)
Effect of exchange rates on cash
—

 
—

 
(22,104
)
 
—

 
(22,104
)
Net increase (decrease) in cash and cash equivalents
(3,270,255
)
 
(10,172
)
 
230,629

 
—

 
(3,049,798
)
Cash and cash equivalents at the beginning of period
3,376,412

 
34,379

 
508,509

 
—

 
3,919,300

Cash and cash equivalents at the end of period
$
106,157

 
$
24,207

 
$
739,138

 
$
—

 
$
869,502


(1) 
Represents primarily inter-company dividends paid from the subsidiaries to the parent, Sysco Corporation.