14.

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, comprehensive income 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 Mar. 31, 2012
	Sysco		Sysco International			Other Non-Guarantor Subsidiaries			Eliminations			Consolidated Totals
	(In thousands)
Current assets	$	214,681	$	—		$	5,710,261		$	—		$	5,924,942
Investment in subsidiaries		15,282,816		412,753			53,867			(15,749,436	)		—
Plant and equipment, net		701,743		—			3,145,127			—			3,846,870
Other assets		326,707		78			1,793,516			—			2,120,301

Total assets	$	16,525,947	$	412,831		$	10,702,771		$	(15,749,436	)	$	11,892,113


Current liabilities	$	651,346	$	204,099		$	2,848,307		$	—		$	3,703,752
Intercompany payables (receivables)		8,327,458		(1,033	)		(8,326,425	)		—			—
Long-term debt		2,362,970		—			49,507			—			2,412,477
Other liabilities		500,889		—			396,980			—			897,869
Shareholders' equity		4,683,284		209,765			15,734,402			(15,749,436	)		4,878,015

Total liabilities and shareholders' equity	$	16,525,947	$	412,831		$	10,702,771		$	(15,749,436	)	$	11,892,113


	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


	Condensed Consolidating Balance Sheet Apr. 2, 2011
	Sysco		Sysco International		Other Non-Guarantor Subsidiaries			Eliminations			Consolidated Totals
	(In thousands)
Current assets	$	178,969	$	—	$	5,259,588		$	—		$	5,438,557
Investment in subsidiaries		13,888,258		537,424		114,035			(14,539,717	)		—
Plant and equipment, net		583,676		—		2,836,186			—			3,419,862
Other assets		378,046		410		1,713,059			—			2,091,515

Total assets	$	15,028,949	$	537,834	$	9,922,868		$	(14,539,717	)	$	10,949,934


Current liabilities	$	385,558	$	4,137	$	2,746,755		$	—		$	3,136,450
Intercompany payables (receivables)		7,736,759		99,435		(7,836,194	)		—			—
Long-term debt		2,411,205		199,928		52,337			—			2,663,470
Other liabilities		528,883		—		413,926			—			942,809
Shareholders' equity		3,966,544		234,334		14,546,044			(14,539,717	)		4,207,205

Total liabilities and shareholders' equity	$	15,028,949	$	537,834	$	9,922,868		$	(14,539,717	)	$	10,949,934


	Condensed Consolidating Statement of Comprehensive Income For the 13-Week Period Ended Mar. 31, 2012
	Sysco			Sysco International			Other Non-Guarantor Subsidiaries			Eliminations			Consolidated Totals
	(In thousands)
Sales	$	—		$	—		$	10,504,746		$	—		$	10,504,746
Cost of sales		—			—			8,633,130			—			8,633,130

Gross profit		—			—			1,871,616			—			1,871,616
Operating expenses		124,546			19			1,308,221			—			1,432,786

Operating income (loss)		(124,546	)		(19	)		563,395			—			438,830
Interest expense (income)		103,060			2,607			(77,377	)		—			28,290
Other expense (income), net		(1,502	)		(174	)		(572	)		—			(2,248	)

Earnings (losses) before income taxes		(226,104	)		(2,452	)		641,344			—			412,788
Income tax (benefit) provision		(83,960	)		(911	)		238,109			—			153,238
Equity in earnings of subsidiaries		401,694			8,693			—			(410,387	)		—

Net earnings		259,550			7,152			403,235			(410,387	)		259,550
Other comprehensive income (loss)		10,119			—			26,823			—			36,942

Comprehensive income	$	269,669		$	7,152		$	430,058		$	(410,387	)	$	296,492


	Condensed Consolidating Statement of Comprehensive Income For the 13-Week Period Ended Apr. 2, 2011
	Sysco			Sysco International			Other Non-Guarantor Subsidiaries			Eliminations			Consolidated Totals
	(In thousands)
Sales	$	—		$	—		$	9,761,660		$	—		$	9,761,660
Cost of sales		—			—			7,929,111			—			7,929,111

Gross profit		—			—			1,832,549			—			1,832,549
Operating expenses		148,165			36			1,256,861			—			1,405,062

Operating income (loss)		(148,165	)		(36	)		575,688			—			427,487
Interest expense (income)		95,879			2,317			(69,224	)		—			28,972
Other expense (income), net		(3,106	)		—			(3,851	)		—			(6,957	)

Earnings (losses) before income taxes		(240,938	)		(2,353	)		648,763			—			405,472
Income tax (benefit) provision		(87,357	)		(851	)		235,202			—			146,994
Equity in earnings of subsidiaries		412,059			9,444			—			(421,503	)		—

Net earnings		258,478			7,942			413,561			(421,503	)		258,478
Other comprehensive income (loss)		13,022			—			44,339			—			57,361

Comprehensive income	$	271,500		$	7,942		$	457,900		$	(421,503	)	$	315,839


	Condensed Consolidating Statement of Comprehensive Income For the 39-Week Period Ended Mar. 31, 2012
	Sysco			Sysco International			Other Non-Guarantor Subsidiaries			Eliminations			Consolidated Totals
	(In thousands)
Sales	$	—		$	—		$	31,335,557		$	—		$	31,335,557
Cost of sales		—			—			25,670,691			—			25,670,691

Gross profit		—			—			5,664,866			—			5,664,866
Operating expenses		377,069			85			3,912,544			—			4,289,698

Operating income (loss)		(377,069	)		(85	)		1,752,322			—			1,375,168
Interest expense (income)		296,323			7,752			(217,987	)		—			86,088
Other expense (income), net		(5,014	)		(51	)		(405	)		—			(5,470	)

Earnings (losses) before income taxes		(668,378	)		(7,786	)		1,970,714			—			1,294,550
Income tax (benefit) provision		(248,978	)		(2,901	)		734,113			—			482,234
Equity in earnings of subsidiaries		1,231,716			46,638			—			(1,278,354	)		—

Net earnings		812,316			41,753			1,236,601			(1,278,354	)		812,316
Other comprehensive income (loss)		30,356			—			(57,021	)		—			(26,665	)

Comprehensive income	$	842,672		$	41,753		$	1,179,580		$	(1,278,354	)	$	785,651


	Condensed Consolidating Statement of Comprehensive Income For the 39-Week Period Ended Apr. 2, 2011
	Sysco			Sysco International			Other Non-Guarantor Subsidiaries			Eliminations			Consolidated Totals
	(In thousands)
Sales	$	—		$	—		$	28,897,786		$	—		$	28,897,786
Cost of sales		—			—			23,457,466			—			23,457,466

Gross profit		—			—			5,440,320			—			5,440,320
Operating expenses		410,290			101			3,659,177			—			4,069,568

Operating income (loss)		(410,290	)		(101	)		1,781,143			—			1,370,752
Interest expense (income)		357,735			7,994			(277,596	)		—			88,133
Other expense (income), net		(3,198	)		—			(6,743	)		—			(9,941	)

Earnings (losses) before income taxes		(764,827	)		(8,095	)		2,065,482			—			1,292,560
Income tax (benefit) provision		(282,151	)		(2,986	)		761,977			—			476,840
Equity in earnings of subsidiaries		1,298,396			41,191			—			(1,339,587	)		—

Net earnings		815,720			36,082			1,303,505			(1,339,587	)		815,720
Other comprehensive income (loss)		39,065			—			111,126			—			150,191

Comprehensive income	$	854,785		$	36,082		$	1,414,631		$	(1,339,587	)	$	965,911


	Condensed Consolidating Cash Flows For the 39-Week Period Ended Mar. 31, 2012
	Sysco			Sysco International			Other Non-Guarantor Subsidiaries			Consolidated Totals
	(In thousands)
Cash flows provided by (used for):
Operating activities	$	(209,046	)	$	45,121		$	1,072,214		$	908,289
Investing activities		(209,944	)		—			(530,525	)		(740,469	)
Financing activities		(261,622	)		—			(185,970	)		(447,592	)
Effect of exchange rates on cash		—			—			(9,529	)		(9,529	)
Intercompany activity		521,530			(45,121	)		(476,409	)		—

Net increase (decrease) in cash and cash equivalents		(159,082	)		—			(130,219	)		(289,301	)
Cash and cash equivalents at the beginning of period		305,513			—			334,252			639,765

Cash and cash equivalents at the end of period	$	146,431		$	—		$	204,033		$	350,464


	Condensed Consolidating Cash Flows For the 39-Week Period Ended Apr. 2, 2011
	Sysco			Sysco International			Other Non-Guarantor Subsidiaries			Consolidated Totals
	(In thousands)
Cash flows provided by (used for):
Operating activities	$	(351,710	)	$	39,372		$	978,097		$	665,759
Investing activities		(170,172	)		—			(265,369	)		(435,541	)
Financing activities		(444,484	)		—			(4,591	)		(449,075	)
Effect of exchange rates on cash		—			—			19,082			19,082
Intercompany activity		725,367			(39,372	)		(685,995	)		—

Net increase (decrease) in cash and cash equivalents		(240,999	)		—			41,224			(199,775	)
Cash and cash equivalents at the beginning of period		373,523			—			211,920			585,443

Cash and cash equivalents at the end of period	$	132,524		$	—		$	253,144		$	385,668