XML 33 R21.htm IDEA: XBRL DOCUMENT v3.21.1
BUSINESS SEGMENT INFORMATION
9 Months Ended
Mar. 27, 2021
Segment Reporting [Abstract]  
BUSINESS SEGMENT INFORMATION BUSINESS SEGMENT INFORMATION
The company has aggregated certain of its operating segments into three reportable segments. “Other” financial information is attributable to the company’s other operating segments that do not meet the quantitative disclosure thresholds.

U.S. Foodservice Operations – primarily includes U.S. Broadline operations, which distribute a full line of food products including custom-cut meat, seafood, specialty produce, specialty imports and a wide variety of non-food products;
International Foodservice Operations – includes operations in the Americas and Europe, which distribute a full line of food products and a wide variety of non-food products. The Americas primarily consists of operations in Canada, Bahamas, Mexico, Costa Rica and Panama, as well as the company’s operations that distribute to international customers. The company’s European operations primarily consist of operations in the United Kingdom (U.K.), France, Ireland and Sweden;
SYGMA – the company’s U.S. customized distribution subsidiary; and
Other – primarily our hotel supply operations, Guest Worldwide. Sysco sold its interests in Cake Corporation in the first quarter of fiscal 2021.

The accounting policies for the segments are the same as those disclosed by Sysco for its consolidated financial statements. Corporate expenses generally include all expenses of the corporate office and Sysco’s shared services center. These also include all share-based compensation costs. During the fourth quarter of fiscal 2020, Sysco revised the way performance is assessed for the U.S. Foodservice Operations segment. As a result of this change, charges incurred by the company’s corporate and shared services center, to provide direct support functions to the U.S. Foodservice Operations reportable segment, have been reclassified from Corporate expenses into the U.S. Foodservice reportable segment. The segment information disclosed for the first 39 weeks of fiscal 2021 reflects this change in reporting structure. The third quarter and first 39 weeks of fiscal 2020 results reflect $63.9 million and $195.6 million, respectively, of corporate expense reclassifications to conform with the current year presentation.

The following tables set forth certain financial information for Sysco’s reportable business segments.

 13-Week Period Ended39-Week Period Ended
 Mar. 27, 2021Mar. 28, 2020Mar. 27, 2021Mar. 28, 2020
Sales:(In thousands)(In thousands)
U.S. Foodservice Operations$8,360,241 $9,587,005 $24,205,917 $30,659,215 
International Foodservice Operations1,723,126 2,508,642 5,854,608 8,311,081 
SYGMA1,580,695 1,364,111 4,625,244 4,266,998 
Other160,527 238,941 475,181 789,452 
Total$11,824,589 $13,698,699 $35,160,950 $44,026,746 
 13-Week Period Ended39-Week Period Ended
 Mar. 27, 2021Mar. 28, 2020Mar. 27, 2021Mar. 28, 2020
Operating income (loss):(In thousands)(In thousands)
U.S. Foodservice Operations$545,502 $464,173 $1,619,162 $1,962,595 
International Foodservice Operations(121,487)(83,786)(201,973)5,895 
SYGMA12,937 10,301 35,957 27,732 
Other5,884 (19,051)4,861 486 
Total segments442,836 371,637 1,458,007 1,996,708 
Corporate(206,919)(311,363)(590,449)(715,623)
Total operating income235,917 60,274 867,558 1,281,085 
Interest expense145,773 83,854 438,988 243,951 
Other (income) expense, net(12,708)5,200 (14,140)7,505 
Earnings (loss) before income taxes$102,852 $(28,780)$442,710 $1,029,629