13. SUPPLEMENTAL GUARANTOR INFORMATION – PARENT GUARANTEE

Sysco International, ULC is an unlimited liability company organized under the laws of the Province of British Columbia, Canada and is a wholly-owned subsidiary of Sysco. In May 2002, Sysco International, Co. issued, in a private offering, $200.0 million of 6.10% notes due in 2012. These notes are fully and unconditionally guaranteed by Sysco.

The following condensed consolidating financial statements present separately the financial position, results of operations and cash flows of the parent guarantor (Sysco), the subsidiary issuer (Sysco International) and all other non-guarantor subsidiaries of Sysco (Other Non-Guarantor Subsidiaries) on a combined basis with eliminating entries.


	Condensed Consolidating Balance Sheet Dec. 31, 2011
	Sysco		Sysco International			Other Non-Guarantor Subsidiaries			Eliminations			Consolidated Totals
	(In thousands)
Current assets	$	202,267	$	8		$	5,445,775		$	—		$	5,648,050
Investment in subsidiaries		14,859,149		400,840			34,271			(15,294,260	)		—
Plant and equipment, net		647,217		—			3,088,920			—			3,736,137
Other assets		321,460		153			1,748,227			—			2,069,840

Total assets	$	16,030,093	$	401,001		$	10,317,193		$	(15,294,260	)	$	11,454,027


Current liabilities	$	423,796	$	201,029		$	2,638,945		$	—		$	3,263,770
Intercompany payables (receivables)		7,984,530		(2,641	)		(7,981,889	)		—			—
Long-term debt		2,599,524		—			49,822			—			2,649,346
Other liabilities		502,536		—			350,760			—			853,296
Shareholders' equity		4,519,707		202,613			15,259,555			(15,294,260	)		4,687,615

Total liabilities and shareholders' equity	$	16,030,093	$	401,001		$	10,317,193		$	(15,294,260	)	$	11,454,027


	Condensed Consolidating Balance Sheet Jul. 2, 2011
	Sysco		Sysco International		Other Non-Guarantor Subsidiaries			Eliminations			Consolidated Totals
	(In thousands)
Current assets	$	354,450	$	34	$	5,378,398		$	—		$	5,732,882
Investment in subsidiaries		14,014,569		371,866		128,461			(14,514,896	)		—
Plant and equipment, net		569,567		—		2,942,822			—			3,512,389
Other assets		378,317		329		1,761,638			—			2,140,284

Total assets	$	15,316,903	$	372,229	$	10,211,319		$	(14,514,896	)	$	11,385,555


Current liabilities	$	430,300	$	201,016	$	2,943,759		$	—		$	3,575,075
Intercompany payables (receivables)		7,800,254		9,301		(7,809,555	)		—			—
Long-term debt		2,227,483		—		52,034			—			2,279,517
Other liabilities		405,376		—		420,345			—			825,721
Shareholders' equity		4,453,490		161,912		14,604,736			(14,514,896	)		4,705,242

Total liabilities and shareholders' equity	$	15,316,903	$	372,229	$	10,211,319		$	(14,514,896	)	$	11,385,555

		$(16,752,675)		$(16,752,675)		$(16,752,675)			$(16,752,675)			$(16,752,675)
	Condensed Consolidating Balance Sheet Jan. 1, 2011
	Sysco		Sysco International		Other Non-Guarantor Subsidiaries			Eliminations			Consolidated Totals
	(In thousands)
Current assets	$	132,672	$	7	$	4,734,203		$	—		$	4,866,882
Investment in subsidiaries		16,110,660		516,940		125,075			(16,752,675	)		—
Plant and equipment, net		540,534		—		2,830,019			—			3,370,553
Other assets		394,587		476		1,695,785			—			2,090,848

Total assets	$	17,178,453	$	517,423	$	9,385,082		$	(16,752,675	)	$	10,328,283


Current liabilities	$	417,368	$	1,342	$	2,302,824		$	—		$	2,721,534
Intercompany payables (receivables)		10,049,861		89,776		(10,139,637	)		—			—
Long-term debt		2,400,988		199,913		52,628			—			2,653,529
Other liabilities		512,065		—		446,664			—			958,729
Shareholders' equity		3,798,171		226,392		16,722,603			(16,752,675	)		3,994,491

Total liabilities and shareholders' equity	$	17,178,453	$	517,423	$	9,385,082		$	(16,752,675	)	$	10,328,283

		$(16,752,675)			$(16,752,675)			$(16,752,675)			$(16,752,675)			$(16,752,675)
	Condensed Consolidating Results of Operations For the 13-Week Period Ended Dec. 31, 2011
	Sysco			Sysco International			Other Non-Guarantor Subsidiaries			Eliminations			Consolidated Totals
	(In thousands)
Sales	$	—		$	—		$	10,244,421		$	—		$	10,244,421
Cost of sales		—			—			8,398,771			—			8,398,771

Gross profit		—			—			1,845,650			—			1,845,650
Operating expenses		135,560			32			1,283,060			—			1,418,652

Operating income (loss)		(135,560	)		(32	)		562,590			—			426,998
Interest expense (income)		96,985			2,409			(71,070	)		—			28,324
Other expense (income), net		(2,197	)		123			(1,398	)		—			(3,472	)

Earnings (losses) before income taxes		(230,348	)		(2,564	)		635,058			—			402,146
Income tax (benefit) provision		(86,825	)		(968	)		239,826			—			152,033
Equity in earnings of subsidiaries		393,636			11,610			—			(405,246	)		—

Net earnings	$	250,113		$	10,014		$	395,232		$	(405,246	)	$	250,113

		$(16,752,675)			$(16,752,675)			$(16,752,675)			$(16,752,675)			$(16,752,675)
	Condensed Consolidating Results of Operations For the 13-Week Period Ended Jan. 1, 2011
	Sysco			Sysco International			Other Non-Guarantor Subsidiaries			Eliminations			Consolidated Totals
	(In thousands)
Sales	$	—		$	—		$	9,384,852		$	—		$	9,384,852
Cost of sales		—			—			7,623,185			—			7,623,185

Gross profit		—			—			1,761,667			—			1,761,667
Operating expenses		143,135			32			1,181,475			—			1,324,642

Operating income (loss)		(143,135	)		(32	)		580,192			—			437,025
Interest expense (income)		130,867			3,101			(105,908	)		—			28,060
Other expense (income), net		(9	)		—			(1,291	)		—			(1,300	)

Earnings (losses) before income taxes		(273,993	)		(3,133	)		687,391			—			410,265
Income tax (benefit) provision		(101,635	)		(1,162	)		254,889			—			152,092
Equity in earnings of subsidiaries		430,531			16,273			—			(446,804	)		—

Net earnings	$	258,173		$	14,302		$	432,502		$	(446,804	)	$	258,173


	Condensed Consolidating Results of Operations For the 26-Week Period Ended Dec. 31, 2011
	Sysco			Sysco International			Other Non-Guarantor Subsidiaries			Eliminations			Consolidated Totals
	(In thousands)
Sales	$	—		$	—		$	20,830,811		$	—		$	20,830,811
Cost of sales		—			—			17,037,561			—			17,037,561

Gross profit		—			—			3,793,250			—			3,793,250
Operating expenses		252,523			66			2,604,323			—			2,856,912

Operating income (loss)		(252,523	)		(66	)		1,188,927			—			936,338
Interest expense (income)		193,263			5,145			(140,610	)		—			57,798
Other expense (income), net		(3,512	)		123			167			—			(3,222	)

Earnings (losses) before income taxes		(442,274	)		(5,334	)		1,329,370			—			881,762
Income tax (benefit) provision		(165,018	)		(1,990	)		496,004			—			328,996
Equity in earnings of subsidiaries		830,022			37,945			—			(867,967	)		—

Net earnings	$	552,766		$	34,601		$	833,366		$	(867,967	)	$	552,766


	Condensed Consolidating Results of Operations For the 26-Week Period Ended Jan. 1, 2011
	Sysco			Sysco International			Other Non-Guarantor Subsidiaries			Eliminations			Consolidated Totals
	(In thousands)
Sales	$	—		$	—		$	19,136,126		$	—		$	19,136,126
Cost of sales		—			—			15,528,355			—			15,528,355

Gross profit		—			—			3,607,771			—			3,607,771
Operating expenses		262,125			65			2,402,316			—			2,664,506

Operating income (loss)		(262,125	)		(65	)		1,205,455			—			943,265
Interest expense (income)		261,856			5,677			(208,372	)		—			59,161
Other expense (income), net		(92	)		—			(2,892	)		—			(2,984	)

Earnings (losses) before income taxes		(523,889	)		(5,742	)		1,416,719			—			887,088
Income tax (benefit) provision		(194,794	)		(2,135	)		526,775			—			329,846
Equity in earnings of subsidiaries		886,337			31,747			—			(918,084	)		—

Net earnings	$	557,242		$	28,140		$	889,944		$	(918,084	)	$	557,242


	Condensed Consolidating Cash Flows For the 26-Week Period Ended Dec. 31, 2011
	Sysco			Sysco International			Other Non-Guarantor Subsidiaries			Consolidated Totals
	(In thousands)
Cash flows provided by (used for):
Operating activities	$	(69,367	)	$	34,816		$	573,066		$	538,515
Investing activities		(140,083	)		—			(347,740	)		(487,823	)
Financing activities		(157,055	)		—			(184,299	)		(341,354	)
Effect of exchange rates on cash		—			—			(12,572	)		(12,572	)
Intercompany activity		200,109			(34,816	)		(165,293	)		—

Net increase (decrease) in cash and cash equivalents		(166,396	)		—			(136,838	)		(303,234	)
Cash and cash equivalents at the beginning of period		305,513			—			334,252			639,765

Cash and cash equivalents at the end of period	$	139,117		$	—		$	197,414		$	336,531


	Condensed Consolidating Cash Flows For the 26-Week Period Ended Jan. 1, 2011
	Sysco			Sysco International			Other Non-Guarantor Subsidiaries			Consolidated Totals
	(In thousands)
Cash flows provided by (used for):
Operating activities	$	(200,386	)	$	28,547		$	454,486		$	282,647
Investing activities		(140,272	)		—			(186,487	)		(326,759	)
Financing activities		(340,071	)		—			(2,509	)		(342,580	)
Effect of exchange rates on cash		—			—			11,004			11,004
Intercompany activity		403,841			(28,547	)		(375,294	)		—

Net increase (decrease) in cash and cash equivalents		(276,888	)		—			(98,800	)		(375,688	)
Cash and cash equivalents at the beginning of period		373,523			—			211,920			585,443

Cash and cash equivalents at the end of period	$	96,635		$	—		$	113,120		$	209,755