DEBT AND OTHER FINANCING ARRANGEMENTS (Tables)

12 Months Ended

Jul. 02, 2022

Debt Disclosure [Abstract]

Schedule of debt

Sysco’s debt consists of the following:

	Jul. 2, 2022		Jul. 3, 2021
	(In thousands)
Senior notes, interest at 2.60%, maturing in fiscal 2022 (1)(2)	$	—	$	449,180
Senior notes, interest at 1.25%, maturing in fiscal 2023 (1)(2)	517,790		598,253
Senior notes, interest at 3.55%, maturing in fiscal 2025 (1)(2)	—		533,681
Senior notes, interest at 3.65%, maturing in fiscal 2025 (1)	385,768		402,589
Senior notes, interest at 5.65%, maturing in fiscal 2025 (1)(2)	—		746,186
Senior notes, interest at 3.75%, maturing in fiscal 2026 (1)(2)	748,595		748,165
Senior notes, interest at 3.30%, maturing in fiscal 2027 (1)(2)	995,864		994,916
Debentures, interest at 7.16%, maturing in fiscal 2027 (2)(3)	43,174		43,173
Senior notes, interest at 3.25%, maturing in fiscal 2028 (1)(2)	745,617		744,827
Debentures, interest at 6.50%, maturing in fiscal 2029 (2)	154,957		154,882
Senior notes, interest at 2.40%, maturing in fiscal 2030 (1)(2)	496,184		495,728
Senior notes, interest at 5.95%, maturing in fiscal 2030 (1)(2)	992,617		991,833
Senior notes, interest at 2.45%, maturing in fiscal 2032 (1)(2)	445,316		—
Senior notes, interest at 5.375%, maturing in fiscal 2036 (1)(2)	382,446		382,319
Senior notes, interest at 6.625%, maturing in fiscal 2039 (1)(2)	199,280		199,088
Senior notes, interest at 6.60%, maturing in fiscal 2040 (1)(2)	349,757		349,564
Senior notes, interest at 4.85%, maturing in fiscal 2046 (1)(2)	496,334		496,177
Senior notes, interest at 4.50%, maturing in fiscal 2046 (1)(2)	494,602		494,469
Senior notes, interest at 4.45%, maturing in fiscal 2048 (1)(2)	492,966		492,813
Senior notes, interest at 3.30%, maturing in fiscal 2050 (1)(2)	494,681		494,554
Senior notes, interest at 6.60%, maturing in fiscal 2050 (1)(2)	1,176,653		1,176,415
Senior notes, interest at 3.15%, maturing in fiscal 2052 (1)(2)	787,081		—
Notes payable, capital leases, and other debt, interest averaging 3.52% and maturing at various dates to fiscal 2051 as of July 2, 2022, and 4.40% and maturing at various dates to fiscal 2050 as of July 3, 2021	247,860		94,295
Total debt	10,647,542		11,083,107
Less current maturities of long-term debt	(580,611)		(494,923)
Net long-term debt	$	10,066,931	$	10,588,184

(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.

Schedule of long-term debt principal payments for the next five years

As of July 2, 2022, 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)
2023	$	521,398	$	450,364
2024	—		441,714
2025	386,877		441,683
2026	750,000		414,011
2027	1,043,176		383,449

(1) Includes payments on floating rate debt based on rates as of July 2, 2022, 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 2, 2022.

Schedule of long-term debt instruments

As part of the refinancing, on December 14, 2021, Sysco issued senior notes (the “Notes”) totaling $1.25 billion. Details of the Notes are as follows:

Maturity Date	Par Value (in millions)		Coupon Rate		Pricing (percentage of par)
December 14, 2031 (the 2031 Notes)	$	450	2.45	%	99.578	%
December 14, 2051 (the 2051 Notes)	800		3.15		99.308