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Supplemental Guarantor Information - Subsidiary Guarantees (Tables)
 6 Months Ended
Dec. 28, 2019
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. 28, 2019
 
Sysco
 
Certain U.S.
 Broadline
Subsidiaries
 
Other
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Totals
 
(In thousands)
Current assets
$
123,848

 
$
4,414,664

 
$
4,123,098

 
$
—

 
$
8,661,610

Intercompany receivables
6,545,764

 
102,177

 
3,675,995

 
(10,323,936
)
 
—

Investment in subsidiaries
5,877,563

 
—

 
1,244,417

 
(7,121,980
)
 
—

Plant and equipment, net
235,093

 
2,220,719

 
2,138,078

 
—

 
4,593,890

Other assets
820,636

 
728,806

 
5,134,269

 
(567,177
)
 
6,116,534

Total assets
$
13,602,904

 
$
7,466,366

 
$
16,315,857

 
$
(18,013,093
)
 
$
19,372,034

Current liabilities
$
1,371,102

 
$
923,600

 
$
4,637,266

 
$
—

 
$
6,931,968

Intercompany payables
1,364,060

 
3,284,353

 
5,675,523

 
(10,323,936
)
 
—

Long-term debt
7,636,689

 
9,557

 
446,668

 
—

 
8,092,914

Other liabilities
703,527

 
550,395

 
1,098,811

 
(567,177
)
 
1,785,556

Noncontrolling interest
—

 
—

 
34,070

 
—

 
34,070

Shareholders’ equity
2,527,526

 
2,698,461

 
4,423,519

 
(7,121,980
)
 
2,527,526

Total liabilities and shareholders’ equity
$
13,602,904

 
$
7,466,366

 
$
16,315,857

 
$
(18,013,093
)
 
$
19,372,034


 
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 consolidating statement of comprehensive income table
 
Condensed Consolidated Statement of Comprehensive Income
 
For the 13-Week Period Ended Dec. 28, 2019
 
Sysco
 
Certain U.S.
 Broadline
Subsidiaries
 
Other
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Totals
 
(In thousands)
Sales
$
—

 
$
9,489,129

 
$
6,135,069

 
$
(599,156
)
 
$
15,025,042

Cost of sales
—

 
7,712,606

 
5,083,193

 
(599,156
)
 
12,196,643

Gross profit
—

 
1,776,523

 
1,051,876

 
—

 
2,828,399

Operating expenses
206,921

 
1,053,004

 
1,015,981

 
—

 
2,275,906

Operating income (loss)
(206,921
)
 
723,519

 
35,895

 
—

 
552,493

Interest expense (income) (1)
110,821

 
(23,993
)
 
(10,066
)
 
—

 
76,762

Other expense (income), net
(612
)
 
(183
)
 
(12
)
 
—

 
(807
)
Earnings (losses) before income taxes
(317,130
)
 
747,695

 
45,973

 
—

 
476,538

Income tax (benefit) provision
(106,906
)
 
188,909

 
11,125

 
—

 
93,128

Equity in earnings of subsidiaries
593,634

 
—

 
113,153

 
(706,787
)
 
—

Net earnings
383,410

 
558,786

 
148,001

 
(706,787
)
 
383,410

Other comprehensive income (loss)
109,101

 
—

 
154,955

 
(154,955
)
 
109,101

Comprehensive income
$
492,511

 
$
558,786

 
$
302,956

 
$
(861,742
)
 
$
492,511

 

(1) 
Interest expense (income) includes $24.0 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 28, 2019. 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. 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 26-Week Period Ended Dec. 28, 2019
 
Sysco
 
Certain U.S.
 Broadline
Subsidiaries
 
Other
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Totals
 
(In thousands)
Sales
$
—

 
$
19,299,537

 
$
12,178,357

 
$
(1,149,847
)
 
$
30,328,047

Cost of sales
—

 
15,623,046

 
10,083,079

 
(1,149,847
)
 
24,556,278

Gross profit
—

 
3,676,491

 
2,095,278

 
—

 
5,771,769

Operating expenses
405,761

 
2,128,841

 
2,016,356

 
—

 
4,550,958

Operating income (loss)
(405,761
)
 
1,547,650

 
78,922

 
—

 
1,220,811

Interest expense (income) (1)
218,157

 
(44,521
)
 
(13,539
)
 
—

 
160,097

Other expense (income), net
6,441

 
(350
)
 
(3,786
)
 
—

 
2,305

Earnings (losses) before income taxes
(630,359
)
 
1,592,521

 
96,247

 
—

 
1,058,409

Income tax (benefit) provision
(205,406
)
 
401,455

 
25,169

 
—

 
221,218

Equity in earnings of subsidiaries
1,262,144

 
—

 
242,701

 
(1,504,845
)
 
—

Net earnings
837,191

 
1,191,066

 
313,779

 
(1,504,845
)
 
837,191

Other comprehensive income (loss)
33,400

 
—

 
28,796

 
(28,796
)
 
33,400

Comprehensive income
$
870,591

 
$
1,191,066

 
$
342,575

 
$
(1,533,641
)
 
$
870,591


(1) 
Interest expense (income) includes $44.5 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. 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 consolidating cash flows table
 
Condensed Consolidated Cash Flows
 
For the 26-Week Period Ended Dec. 28, 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
$
283,101

 
$
175,343

 
$
296,025

 
$
—

 
$
754,469

Investing activities
(146,118
)
 
(186,480
)
 
(306,521
)
 
111,429

 
(527,690
)
Financing activities
(112,342
)
 
(7,053
)
 
37,731

 
(111,429
)
 
(193,093
)
Effect of exchange rates on cash
—

 
—

 
5,565

 
—

 
5,565

Net increase (decrease) in cash, cash equivalents and restricted cash
24,641

 
(18,190
)
 
32,800

 
—

 
39,251

Cash, cash equivalents and restricted cash at the beginning of period
29,868

 
117,643

 
384,734

 
—

 
532,245

Cash, cash equivalents and restricted cash at the end of period
$
54,509

 
$
99,453

 
$
417,534

 
$
—

 
$
571,496


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

 
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 (decrease) 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.