SYSCO CORP
For the period ended Jun 29, 2024. Filed Aug 28, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Aug 28, 2024
SYY$78.38+2.0%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Cash Flows
(In millions)
| Year Ended | |||
|---|---|---|---|
| Jun. 29, 2024 | Jul. 1, 2023 | Jul. 2, 2022 | |
| Cash flows from operating activities: | |||
| Net earnings | $1,955 | $1,770 | $1,359 |
| Adjustments to reconcile net earnings to cash provided by operating activities: | |||
| Pension settlement charge | — | 315 | — |
| Share-based compensation expense | 104 | 96 | 122 |
| Depreciation and amortization | 873 | 776 | 773 |
| Operating lease asset amortization | 124 | 113 | 108 |
| Amortization of debt issuance and other debt-related costs | 19 | 20 | 22 |
| Deferred income taxes | 27 | (16) | (64) |
| Provision for losses (gains) on receivables | 57 | 36 | (15) |
| Loss on extinguishment of debt | — | — | 116 |
| Other non-cash items | (12) | (7) | (13) |
| Additional changes in certain assets and liabilities, net of effect of businesses acquired: | |||
| Increase in receivables | (110) | (271) | (971) |
| Increase in inventories | (70) | (22) | (709) |
| (Increase) decrease in prepaid expenses and other current assets | (2) | 2 | 5 |
| Increase in accounts payable | 104 | 196 | 810 |
| (Decrease) increase in accrued expenses | (12) | 22 | 423 |
| Decrease in operating lease liabilities | (144) | (134) | (126) |
| Increase (decrease) in accrued income taxes | 13 | 92 | (10) |
| Decrease (increase) in other assets | 38 | 6 | (1) |
| Increase (decrease) in other long-term liabilities | 25 | (126) | (38) |
| Net cash provided by operating activities | 2,989 | 2,868 | 1,791 |
| Cash flows from investing activities: | |||
| Additions to plant and equipment | (832) | (793) | (633) |
| Proceeds from sales of plant and equipment | 79 | 42 | 24 |
| Acquisition of businesses, net of cash acquired | (1,210) | (37) | (1,281) |
| Purchase of marketable securities | (33) | (16) | (19) |
| Proceeds from sales of marketable securities | 29 | 12 | 17 |
| Other investing activities | 5 | 7 | 14 |
| Net cash used for investing activities | (1,962) | (785) | (1,878) |
| Cash flows from financing activities: | |||
| Bank and commercial paper borrowings, net | 200 | — | — |
| Other debt borrowings including senior notes | 1,362 | 249 | 1,248 |
| Other debt repayments including senior notes | (447) | (830) | (494) |
| Redemption premiums and repayments for senior notes | — | — | (1,396) |
| Cash received from termination of interest rate swap agreements | — | — | 23 |
| Proceeds from stock option exercises | 120 | 79 | 128 |
| Stock repurchases | (1,232) | (500) | (500) |
| Dividends paid | (1,008) | (996) | (959) |
| Other financing activities | (33) | (58) | (37) |
| Net cash used for financing activities | (1,038) | (2,056) | (1,987) |
| Effect of exchange rates on cash, cash equivalents and restricted cash | (10) | 8 | (32) |
| Net (decrease) increase in cash, cash equivalents and restricted cash | (21) | 35 | (2,106) |
| Cash, cash equivalents and restricted cash at beginning of period | 966 | 931 | 3,037 |
| Cash, cash equivalents and restricted cash at end of period | $945 | $966 | $931 |
| Supplemental disclosures of cash flow information: | |||
| Cash paid during the period for: | |||
| Interest | $557 | $511 | $498 |
| Income taxes, net of refunds | 564 | 444 | 450 |
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