DEBT

3 Months Ended

Sep. 28, 2024

Debt Disclosure [Abstract]

DEBT

DEBT

Sysco has a long-term revolving credit facility that includes aggregate commitments of the lenders thereunder of $3.0 billion, with an option to increase such commitments to $4.0 billion. As of September 28, 2024, there were no borrowings outstanding under this facility.

We have a U.S. commercial paper program allowing the company to issue short-term unsecured notes in an aggregate amount not to exceed $3.0 billion. Any outstanding amounts are classified within long-term debt, as the program is supported by the long-term revolving credit facility. As of September 28, 2024, there were $325 million in commercial paper issuances outstanding under this program. We also have a commercial paper program in Europe with borrowings not to exceed €250

million. As of September 28, 2024, there were €105 million (the equivalent of $117 million) in commercial paper issuances outstanding under this program.

The total carrying value of our debt was $12.4 billion as of September 28, 2024 and $12.0 billion as of June 29, 2024. The increase in the carrying value of our debt during the 13-week period ended September 28, 2024 was due to new commercial paper issuances and new leases in support of plant and equipment.

Information regarding the guarantors of our registered debt securities is contained in the section captioned Guarantor Summarized Financial Information in “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Item 2 of Part I of this Form 10-Q.