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Supplemental Guarantor Information - Subsidiary Guarantees (Subsidiary Guarantee [Member]) | 3 Months Ended
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Sep. 29, 2012
Subsidiary Guarantee [Member] |
Supplemental Guarantor Information - Subsidiary Guarantees [Line Items] |
Supplemental Guarantor Information - Subsidiary Guarantees | 1 4. SUPPLEMENTAL GUARANTOR INFORMATION – SUBSIDIARY GUARANTEES On January 19, 2011, the wholly-owned United States Broadline (U.S. Broadline) subsidiaries of Sysco Corporation entered into full and unconditional guarantees of all outstanding senior notes and debentures of Sysco Corporation. As of September 29, 2012, Sysco had a total of $2,975.0 million in senior notes and debentures outstanding that are covered by these guarantees. The following condensed consolidating financial statements present separately the financial position, comprehensive income and cash flows of the parent issuer (Sysco Corporation), the guarantor s (the majority of the company’s U.S. Broadline subsidiaries), and all other non‑guarantor subsidiaries of Sysco (Other Non-Guarantor Subsidiaries) on a combined basis with eliminating entries.
| Condensed Consolidating Balance Sheet
| Sept. 29, 2012
| Sysco |  | U.S. Broadline Subsidiaries |  | Other Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated Totals
|  |  |  |  |  |  | (In thousands) |  |  |  |  |  |
Current assets | $ | 411,095 |  | $ | 3,970,191 |  | $ | 1,952,364 |  | $ | - |  | $ | 6,333,650
Investment in subsidiaries |  | 10,609,447 |  |  | - |  |  | - |  |  | (10,609,447) |  |  | -
Plant and equipment, net |  | 626,429 |  |  | 2,010,057 |  |  | 1,314,182 |  |  | - |  |  | 3,950,668
Other assets |  | 341,778 |  |  | 502,823 |  |  | 1,358,914 |  |  | - |  |  | 2,203,515
Total assets | $ | 11,988,749 |  | $ | 6,483,071 |  | $ | 4,625,460 |  | $ | (10,609,447) |  | $ | 12,487,833
Current liabilities | $ | 640,071 |  | $ | 978,653 |  | $ | 1,984,150 |  | $ | - |  | $ | 3,602,874
Intercompany payables (receivables) |  | 3,106,736 |  |  | (3,280,070) |  |  | 173,334 |  |  | - |  |  | -
Long-term debt |  | 2,714,267 |  |  | 25,482 |  |  | 25,104 |  |  | - |  |  | 2,764,853
Other liabilities |  | 840,402 |  |  | 286,330 |  |  | 99,193 |  |  | - |  |  | 1,225,925
Shareholders’ equity |  | 4,687,273 |  |  | 8,472,676 |  |  | 2,343,679 |  |  | (10,609,447) |  |  | 4,894,181
Total liabilities and shareholders’ equity | $ | 11,988,749 |  | $ | 6,483,071 |  | $ | 4,625,460 |  | $ | (10,609,447) |  | $ | 12,487,833
| Condensed Consolidating Balance Sheet
| Jun. 30, 2012
| Sysco |  | U.S. Broadline Subsidiaries |  | Other Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated Totals
|  |  |  |  |  |  | (In thousands) |  |  |  |  |  |
Current assets | $ | 538,451 |  | $ | 3,675,676 |  | $ | 1,870,681 |  | $ | - |  | $ | 6,084,808
Investment in subsidiaries |  | 10,163,398 |  |  | - |  |  | - |  |  | (10,163,398) |  |  | -
Plant and equipment, net |  | 703,658 |  |  | 1,923,925 |  |  | 1,256,167 |  |  | - |  |  | 3,883,750
Other assets |  | 324,839 |  |  | 503,357 |  |  | 1,298,218 |  |  | - |  |  | 2,126,414
Total assets | $ | 11,730,346 |  | $ | 6,102,958 |  | $ | 4,425,066 |  | $ | (10,163,398) |  | $ | 12,094,972
Current liabilities | $ | 678,527 |  | $ | 900,416 |  | $ | 1,844,636 |  | $ | - |  | $ | 3,423,579
Intercompany payables (receivables) |  | 3,068,001 |  |  | (3,334,860) |  |  | 266,859 |  |  | - |  |  | -
Long-term debt |  | 2,714,415 |  |  | 25,459 |  |  | 23,814 |  |  | - |  |  | 2,763,688
Other liabilities |  | 755,112 |  |  | 367,094 |  |  | 100,459 |  |  | - |  |  | 1,222,665
Shareholders’ equity |  | 4,514,291 |  |  | 8,144,849 |  |  | 2,189,298 |  |  | (10,163,398) |  |  | 4,685,040
Total liabilities and shareholders’ equity | $ | 11,730,346 |  | $ | 6,102,958 |  | $ | 4,425,066 |  | $ | (10,163,398) |  | $ | 12,094,972
| Condensed Consolidating Balance Sheet
| Oct. 1, 2011
| Sysco |  | U.S. Broadline Subsidiaries |  | Other Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated Totals
|  |  |  |  |  |  | (In thousands) |  |  |  |  |  |
Current assets | $ | 200,076 |  | $ | 3,803,462 |  | $ | 1,692,696 |  | $ | - |  | $ | 5,696,234
Investment in subsidiaries |  | 14,459,412 |  |  | - |  |  | - |  |  | (14,459,412) |  |  | -
Plant and equipment, net |  | 593,156 |  |  | 1,853,608 |  |  | 1,168,597 |  |  | - |  |  | 3,615,361
Other assets |  | 389,985 |  |  | 518,715 |  |  | 1,226,568 |  |  | - |  |  | 2,135,268
Total assets | $ | 15,642,629 |  | $ | 6,175,785 |  | $ | 4,087,861 |  | $ | (14,459,412) |  | $ | 11,446,863
Current liabilities | $ | 401,006 |  | $ | 1,136,886 |  | $ | 2,040,798 |  | $ | - |  | $ | 3,578,690
Intercompany payables (receivables) |  | 7,896,806 |  |  | (7,917,812) |  |  | 21,006 |  |  | - |  |  | -
Long-term debt |  | 2,335,586 |  |  | 26,517 |  |  | 22,883 |  |  | - |  |  | 2,384,986
Other liabilities |  | 504,461 |  |  | 256,630 |  |  | 67,841 |  |  | - |  |  | 828,932
Shareholders’ equity |  | 4,504,770 |  |  | 12,673,564 |  |  | 1,935,333 |  |  | (14,459,412) |  |  | 4,654,255
Total liabilities and shareholders’ equity | $ | 15,642,629 |  | $ | 6,175,785 |  | $ | 4,087,861 |  | $ | (14,459,412) |  | $ | 11,446,863
| Condensed Consolidating Statement of Comprehensive Income
| For the 13-Week Period Ended Sept. 29, 2012
| Sysco |  | U.S. Broadline Subsidiaries |  | Other Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated Totals
|  |  |  |  |  |  |  | (In thousands) |  |  |  |  |  |
Sales | $ | - |  | $ | 7,636,178 |  | $ | 3,704,672 |  | $ | (253,934) |  | $ | 11,086,916
Cost of sales |  | - |  |  | 6,144,858 |  |  | 3,166,197 |  |  | (227,683) |  |  | 9,083,372
Gross profit |  | - |  |  | 1,491,320 |  |  | 538,475 |  |  | (26,251) |  |  | 2,003,544
Operating expenses |  | 153,138 |  |  | 914,086 |  |  | 483,789 |  |  | (26,251) |  |  | 1,524,762
Operating income (loss) |  | (153,138) |  |  | 577,234 |  |  | 54,686 |  |  | - |  |  | 478,782
Interest expense (income) |  | 69,612 |  |  | (38,383) |  |  | (361) |  |  | - |  |  | 30,868
Other expense (income), net |  | (319) |  |  | (704) |  |  | (1,454) |  |  | - |  |  | (2,477)
Earnings (losses) before income taxes |  | (222,431) |  |  | 616,321 |  |  | 56,501 |  |  | - |  |  | 450,391
Income tax (benefit) provision |  | (80,891) |  |  | 224,137 |  |  | 20,547 |  |  | - |  |  | 163,793
Equity in earnings of subsidiaries |  | 428,138 |  |  | - |  |  | - |  |  | (428,138) |  |  | -
Net earnings |  | 286,598 |  |  | 392,184 |  |  | 35,954 |  |  | (428,138) |  |  | 286,598
Other comprehensive income (loss) |  | 12,731 |  |  | - |  |  | 36,160 |  |  | - |  |  | 48,891
Comprehensive income | $ | 299,329 |  | $ | 392,184 |  | $ | 72,114 |  | $ | (428,138) |  | $ | 335,489
| Condensed Consolidating Statement of Comprehensive Income
| For the 13-Week Period Ended Oct. 1, 2011
| Sysco |  | U.S. Broadline Subsidiaries |  | Other Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated Totals
|  |  |  |  |  |  |  | (In thousands) |  |  |  |  |  |
Sales | $ | - |  | $ | 7,320,286 |  | $ | 3,457,058 |  | $ | (190,954) |  | $ | 10,586,390
Cost of sales |  | - |  |  | 5,864,706 |  |  | 2,943,184 |  |  | (169,100) |  |  | 8,638,790
Gross profit |  | - |  |  | 1,455,580 |  |  | 513,874 |  |  | (21,854) |  |  | 1,947,600
Operating expenses |  | 116,963 |  |  | 898,031 |  |  | 445,120 |  |  | (21,854) |  |  | 1,438,260
Operating income (loss) |  | (116,963) |  |  | 557,549 |  |  | 68,754 |  |  | - |  |  | 509,340
Interest expense (income) |  | 96,278 |  |  | (63,903) |  |  | (2,901) |  |  | - |  |  | 29,474
Other expense (income), net |  | (1,315) |  |  | (563) |  |  | 2,128 |  |  | - |  |  | 250
Earnings (losses) before income taxes |  | (211,926) |  |  | 622,015 |  |  | 69,527 |  |  | - |  |  | 479,616
Income tax (benefit) provision |  | (78,193) |  |  | 229,503 |  |  | 25,653 |  |  | - |  |  | 176,963
Equity in earnings of subsidiaries |  | 436,386 |  |  | - |  |  | - |  |  | (436,386) |  |  | -
Net earnings |  | 302,653 |  |  | 392,512 |  |  | 43,874 |  |  | (436,386) |  |  | 302,653
Other comprehensive income (loss) |  | 10,118 |  |  | - |  |  | (102,267) |  |  | - |  |  | (92,149)
Comprehensive income | $ | 312,771 |  | $ | 392,512 |  | $ | (58,393) |  | $ | (436,386) |  | $ | 210,504
| Condensed Consolidating Cash Flows
| For the 13-Week Period Ended Sept. 29, 2012
| Sysco |  | U.S. Broadline Subsidiaries |  | Other Non-Guarantor Subsidiaries |  | Consolidated Totals
|  | (In thousands)
Cash flows provided by (used for): |  |  |  |  |  |  |  |  |  |  |
Operating activities | $ | (72,479) |  | $ | 160,949 |  | $ | 124,731 |  | $ | 213,201
Investing activities |  | (38,440) |  |  | (72,725) |  |  | (121,281) |  |  | (232,446)
Financing activities |  | (123,613) |  |  | 118 |  |  | (974) |  |  | (124,469)
Effect of exchange rates on cash |  | - |  |  | - |  |  | 3,262 |  |  | 3,262
Intercompany activity |  | 100,332 |  |  | (87,492) |  |  | (12,840) |  |  | -
Net increase (decrease) in cash and cash equivalents |  | (134,200) |  |  | 850 |  |  | (7,102) |  |  | (140,452)
Cash and cash equivalents at the beginning of period |  | 471,107 |  |  | 34,478 |  |  | 183,282 |  |  | 688,867
Cash and cash equivalents at the end of period | $ | 336,907 |  | $ | 35,328 |  | $ | 176,180 |  | $ | 548,415
| Condensed Consolidating Cash Flows
| For the 13-Week Period Ended Oct. 1, 2011
| Sysco |  | U.S. Broadline Subsidiaries |  | Other Non-Guarantor Subsidiaries |  | Consolidated Totals
| (In thousands)
Cash flows provided by (used for): |  |  |  |  |  |  |  |  |  |  |
Operating activities | $ | (74,065) |  | $ | 234,610 |  | $ | 94,798 |  | $ | 255,343
Investing activities |  | (65,808) |  |  | (113,342) |  |  | (94,680) |  |  | (273,830)
Financing activities |  | (142,476) |  |  | (136) |  |  | (183,134) |  |  | (325,746)
Effect of exchange rates on cash |  | - |  |  | - |  |  | (11,431) |  |  | (11,431)
Intercompany activity |  | 111,977 |  |  | (124,792) |  |  | 12,815 |  |  | -
Net increase (decrease) in cash and cash equivalents |  | (170,372) |  |  | (3,660) |  |  | (181,632) |  |  | (355,664)
Cash and cash equivalents at the beginning of period |  | 305,513 |  |  | 32,154 |  |  | 302,098 |  |  | 639,765
Cash and cash equivalents at the end of period | $ | 135,141 |  | $ | 28,494 |  | $ | 120,466 |  | $ | 284,101

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