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FAIR VALUE MEASUREMENTS
 3 Months Ended
Sep. 26, 2026
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS
Sysco’s policy is to invest only in high-quality investments. The fair values of our cash deposits and money market funds included in cash equivalents are valued using inputs that are considered a Level 1 measurement. Other cash equivalents, such as time deposits and highly liquid instruments with original maturities of three months or less, are valued using inputs that are considered a Level 2 measurement. The fair value of our marketable securities is measured using inputs that are considered a Level 2 measurement, as they rely on quoted prices in markets that are not actively traded or observable inputs over the full term of the asset. The location and the fair value of the company’s marketable securities in the consolidated balance sheet are disclosed in Note 6, “Marketable Securities.” The fair value of our derivative instruments is measured using inputs that are considered a Level 2 measurement, as they are not actively traded and are valued using pricing models that use observable market quotations. The location and the fair values of derivative assets and liabilities designated as hedges in the consolidated balance sheet are disclosed in Note 7, “Derivative Financial Instruments.” The deal-contingent interest rate lock unwind proceeds were calculated as the difference between contractual strike rates and forward market interest rates on the termination date. The deal-contingent interest rate lock unwind proceeds of $241 million were placed in escrow and the present value is probability weighted for the likelihood of closure of the JRD Acquisition Transactions as of the valuation date to arrive at a fair value estimate as of September 26, 2026. The lowest level of inputs used that were significant in determining the fair value were considered Level 3 inputs. See Note 7, “Derivative Financial Instruments,” for more information on our deal-contingent rate lock transactions.
The following tables present our assets measured at fair value on a recurring basis as of September 26, 2026 and June 27, 2026:
Assets Measured at Fair Value as of Sep. 26, 2026
Level 1Level 2Level 3Total
(In millions)
Assets:
Cash equivalents$2,481 $— $— $2,481 
Restricted cash198 — — 198 
Total assets at fair value$2,679 $— $— $2,679 
Assets Measured at Fair Value as of Jun. 27, 2026
Level 1Level 2Level 3Total
(In millions)
Assets:
Cash equivalents$1,125 $— $— $1,125 
Restricted cash331 — — 331 
Total assets at fair value$1,456 $— $— $1,456 
The carrying values of accounts receivable and accounts payable approximated their respective fair values due to their short-term maturities. The fair value of our total debt is estimated based on the quoted market prices for the same or similar issues or on the current rates offered to the company for new debt with the same maturities as existing debt and is considered a Level 2 measurement. The fair value of total debt was approximately $12.9 billion as of September 26, 2026 and $13.0 billion as of June 27, 2026, while the carrying value was $13.8 billion as of September 26, 2026 and $13.5 billion as of June 27, 2026.