GOODWILL AND OTHER INTANGIBLES

12 Months Ended

Jun. 29, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

The changes in the carrying amount of goodwill by reportable segment for the years presented are as follows:


	U.S. Foodservice Operations		International Foodservice Operations		SYGMA		Other		Total
	(In millions)
Carrying amount as of July 2, 2022	$	2,211	$	2,110	$	33	$	188	$	4,542
Goodwill acquired during year	39		—		—		—		39

Currency translation/other	(3)		68		—		—		65
Carrying amount as of July 1, 2023	$	2,247	$	2,178	$	33	$	188	$	4,646
Goodwill acquired during year	510		7		—		—		517

Currency translation/other	(1)		(9)		—		—		(10)
Carrying amount as of June 29, 2024	$	2,756	$	2,176	$	33	$	188	$	5,153

Amortizable intangible assets acquired during fiscal 2024 were $294 million, with a weighted-average amortization period of 14.3 years. Amortizable intangible assets acquired during fiscal 2024 by category were customer relationships, trademarks, non-compete arrangements, and other intangibles of $273 million, $8 million, $3 million, and $10 million respectively, with a weighted-average amortization period of 14.7 years, 14.8 years, 3 years, and 6 years respectively.

Fully amortized intangible assets have been removed in the period fully amortized in the table below which presents the company’s amortizable intangible assets in total by category as follows:


	Jun. 29, 2024						Jul. 1, 2023
	Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
	(In millions)
Customer relationships	$	1,502	$	(754)	$	748	$	1,284	$	(685)	$	599
Non-compete agreements	28		(20)		8		26		(15)		11
Trademarks	151		(32)		119		147		(26)		121
Other	10		(1)		9		—		—		—
Total amortizable intangible assets	$	1,691	$	(807)	$	884	$	1,457	$	(726)	$	731

The table below presents our indefinite-lived intangible assets by category as follows:


	Jun. 29, 2024		Jul. 1, 2023
	(In millions)
Trademarks	$	303	$	127
Licenses	1		1
Total indefinite-lived intangible assets	$	304	$	128

Amortization expense for 2024, 2023 and 2022 was $142 million, $126 million and $133 million, respectively. The estimated future amortization expense for the next five fiscal years on intangible assets outstanding as of June 29, 2024 is shown below:


	Amount
	(In millions)
2025	$	139
2026	96
2027	88
2028	84
2029	83