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DEBT AND OTHER FINANCING ARRANGEMENTS (Tables)
 12 Months Ended
Jul. 03, 2021
Debt Disclosure [Abstract]  
Schedule of debt
Sysco’s debt consists of the following:
 Jul. 3, 2021Jun. 27, 2020
 (In thousands)
U.K. Commercial paper, interest at 0.454%, maturing in fiscal 2021 $— $740,226 
Senior notes, interest at 2.60%, maturing in fiscal 2021 (1)(2)
— 751,312 
Senior notes, interest at 2.50%, maturing in fiscal 2022 (1)(2)
— 504,352 
Senior notes, interest at 2.60%, maturing in fiscal 2022 (1)(2)
449,180 448,336 
Senior notes, interest at 1.25%, maturing in fiscal 2023 (1)(2)
598,253 568,011 
Senior notes, interest at 3.55%, maturing in fiscal 2025 (1)(2)
533,681 551,756 
Senior notes, interest at 3.65%, maturing in fiscal 2025 (1)
402,589 362,785 
Senior notes, interest at 5.65%, maturing in fiscal 2025 (1)(2)
746,186 745,241 
Senior notes, interest at 3.75%, maturing in fiscal 2026 (1)(2)
748,165 747,727 
Senior notes, interest at 3.30%, maturing in fiscal 2027 (1)(2)
994,916 993,978 
Debentures, interest at 7.16%, maturing in fiscal 2027 (2)(3)
43,173 44,273 
Senior notes, interest at 3.25%, maturing in fiscal 2028 (1)(2)
744,827 744,046 
Debentures, interest at 6.50%, maturing in fiscal 2029 (2)
154,882 162,416 
Senior notes, interest at 2.40%, maturing in fiscal 2030 (1)(2)
495,728 495,273 
Senior notes, interest at 5.95%, maturing in fiscal 2030 (1)(2)
991,833 1,239,439 
Senior notes, interest at 5.375%, maturing in fiscal 2036 (1)(2)
382,319 382,190 
Senior notes, interest at 6.625%, maturing in fiscal 2039 (1)(2)
199,088 199,390 
Senior notes, interest at 6.60%, maturing in fiscal 2040 (1)(2)
349,564 740,188 
Senior notes, interest at 4.85%, maturing in fiscal 2046 (1)(2)
496,177 496,017 
Senior notes, interest at 4.50%, maturing in fiscal 2046 (1)(2)
494,469 494,338 
Senior notes, interest at 4.45%, maturing in fiscal 2048 (1)(2)
492,813 492,662 
Senior notes, interest at 6.60%, maturing in fiscal 2050 (1)(2)
1,176,415 1,233,666 
Senior notes, interest at 3.30%, maturing in fiscal 2050 (1)(2)
494,554 494,428 
Long-term revolving credit facility, at variable interest, maturing in fiscal 2024 (2)
— 694,951 
Notes payable, capital leases, and other debt, interest averaging 4.40% and maturing at various dates to fiscal 2050 as of July 3, 2021 and 4.53% and maturing at various dates to fiscal 2046 as of June 27, 202094,295 119,878 
Total debt11,083,107 14,446,879 
Less current maturities of long-term debt(486,141)(1,542,128)
Less notes payable(8,782)(2,266)
Net long-term debt$10,588,184 $12,902,485 

(1)Represents senior notes that are unsecured, are not subject to any sinking fund requirement and include a redemption provision that allows Sysco to retire the debentures and notes at any time prior to maturity at the greater of par plus accrued interest or an amount designed to ensure that the debenture and note holders are not penalized by the early redemption.
(2)Represents senior notes, debentures and borrowings under the company’s long-term revolving credit facility that are guaranteed by certain wholly owned U.S. Broadline subsidiaries of Sysco Corporation as discussed in Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Liquidity and Capital Resources.”
(3)This debenture is not subject to any sinking fund requirement and is no longer redeemable prior to maturity.
Long-term debt principal payments for the next five years table
As of July 3, 2021, the principal and interest payments required to be made during the next five fiscal years on Sysco’s senior notes and debentures are shown below:
 Principal
Interest (1)
(In thousands)
2022$450,000 $484,793 
2023593,303 474,331 
2024— 465,614 
20251,654,138 465,583 
2026750,000 377,786 
(1)    Includes payments on floating rate debt based on rates as of July 3, 2021, assuming amount remains unchanged until maturity, and payments on fixed rate debt based on maturity dates. The impact of our outstanding fixed-to-floating interest rate swap on the fixed rate debt interest payments is included as well based on the floating rates in effect as of July 3, 2021.
Debentures and senior notes purchased
Maturity DatePar ValueCoupon RatePrincipal amount tenderedRemaining Par Value after tender offerCash amount paid (including interest)
(Dollars in thousands)
April 15, 2027$44,276 7.160 %$1,100 $43,176 $1,429 
August 1, 2028163,054 6.500 7,639 155,415 9,957 
April 1, 20301,250,000 5.950 249,987 1,000,013 323,720 
March 17, 2039203,007 6.625 507 202,500 745 
April 1, 2040750,000 6.600 395,026 354,974 582,197 
April 1, 20501,250,000 6.600 58,123 1,191,877 90,350