MARKETABLE SECURITIES

12 Months Ended

Jun. 29, 2024

Investments, Debt and Equity Securities [Abstract]

MARKETABLE SECURITIES

MARKETABLE SECURITIES

Sysco invests a portion of the assets held by our wholly owned captive insurance subsidiary in a restricted investment portfolio of marketable fixed income securities, which have been classified and accounted for as available-for-sale. The company includes fixed income securities maturing in less than twelve months within Prepaid expenses and other current assets and includes fixed income securities maturing in more than twelve months within Other assets in the accompanying

Consolidated Balance Sheets. We record the amounts at fair market value, which is determined using quoted market prices at the end of the reporting period.

Sysco estimates lifetime expected credit losses for all available-for-sale debt securities in an unrealized loss position by assessing credit indicators, including credit ratings, for the applicable securities. If the assessment indicates that an expected credit loss exists, the company determines the portion of the unrealized loss attributable to credit deterioration and records an allowance for the expected credit loss through the consolidated results of operations. Unrealized gains and losses on marketable securities are recorded in accumulated other comprehensive loss. The following table presents our available-for-sale marketable securities as of June 29, 2024 and July 1, 2023:

	Jun. 29, 2024
	Amortized Cost Basis		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Short-Term Marketable Securities		Long-Term Marketable Securities
	(In millions)
Fixed income securities:
Corporate bonds	$	98	$	—	$	(4)	$	94	$	24	$	70
Government bonds	34		—		(2)		32		—		32
Total marketable securities	$	132	$	—	$	(6)	$	126	$	24	$	102

	Jul. 1, 2023
	Amortized Cost Basis		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value		Short-Term Marketable Securities		Long-Term Marketable Securities
	(In millions)
Fixed income securities:
Corporate bonds	$	99	$	—	$	(7)	$	92	$	12	$	80
Government bonds	30		—		(2)		28		—		28
Total marketable securities	$	129	$	—	$	(9)	$	120	$	12	$	108

As of June 29, 2024, the balance of available-for-sale securities by contractual maturity is shown in the following table on a fiscal year basis. Within the table, maturities of fixed income securities have been allocated based upon timing of estimated cash flows. Actual maturities may differ from contractual maturities because the issuers of the securities may have the right to prepay obligations without prepayment penalties.

	Jun. 29, 2024
	(In millions)
Due in one year or less	$	24
Due after one year through five years	70
Due after five years	32
Total	$	126

There were no significant realized gains or losses in marketable securities during fiscal 2024, 2023, and 2022.