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INCOME TAXES (Tables) | 12 Months Ended
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Jun. 30, 2018
Income Tax Disclosure [Abstract] |
Earnings before income taxes by jurisdiction table | For financial reporting purposes, earnings before income taxes consists of the following:
| 2018 |  | 2017 |  | 2016
| (In thousands)
U.S. | $ | 1,765,793 |  |  | $ | 1,569,073 |  |  | $ | 1,225,142 |
Foreign | 190,431 |  |  | 197,157 |  |  | 207,865 |
Total | $ | 1,956,224 |  |  | $ | 1,766,230 |  |  | $ | 1,433,007 |
Income tax provision by jurisdiction table | The income tax provision for each fiscal year consists of the following:
| 2018 |  | 2017 |  | 2016
| (In thousands)
U.S. federal income taxes | $ | 399,254 |  |  | $ | 534,266 |  |  | $ | 429,658 |
State and local income taxes | 62,670 |  |  | 69,913 |  |  | 34,032 |
Foreign income taxes | 63,534 |  |  | 19,548 |  |  | 19,695 |
Total | $ | 525,458 |  |  | $ | 623,727 |  |  | $ | 483,385 |
Income tax provision by component table | The current and deferred components of the income tax provisions for each fiscal year are as follows:
| 2018 |  | 2017 |  | 2016
| (In thousands)
Current | $ | 337,550 |  |  | $ | 675,573 |  |  | $ | 389,514 |
Deferred | 187,908 |  |  | (51,846 | ) |  | 93,871 |
Total | $ | 525,458 |  |  | $ | 623,727 |  |  | $ | 483,385 |
Components of deferred tax assets and liabilities table | Significant components of Sysco’s deferred tax assets and liabilities are as follows:
| Jun. 30, 2018 |  | Jul. 1, 2017
| (In thousands)
Deferred tax assets: |  |  |  |
Net operating loss carryforwards | $ | 226,274 |  |  | $ | 194,287 |
Pension | 115,361 |  |  | 360,864 |
Share-based compensation | 34,486 |  |  | 48,077 |
Deferred compensation | 29,512 |  |  | 39,830 |
Self-insured liabilities | — |  |  | 84,401 |
Receivables | 13,001 |  |  | 30,842 |
Inventory | 14,728 |  |  | 21,332 |
Foreign currency remeasurement losses and currency hedge | 15,796 |  |  | 13,221 |
Other | 33,386 |  |  | 54,619 |
Deferred tax assets before valuation allowances | 482,544 |  |  | 847,473 |
Valuation allowances | (123,237 | ) |  | (114,151 | )
Total deferred tax assets | 359,307 |  |  | 733,322 |
Deferred tax liabilities: |  |  |
Excess tax depreciation and basis differences of assets | 180,950 |  |  | 247,510 |
Goodwill and intangible assets | 373,041 |  |  | 455,340 |
Other | 40,774 |  |  | 49,654 |
Total deferred tax liabilities | 594,765 |  |  | 752,504 |
Total net deferred tax assets / (liabilities) | $ | (235,458 | ) |  | $ | (19,182 | )
Tax rate reconciliation table | Reconciliations of the statutory federal income tax rate to the effective income tax rates for each fiscal year are as follows:
| 2018 |  | 2017 |  | 2016
U.S. statutory federal income tax rate | 28.00 | % |  | 35.00 | % |  | 35.00 | %
State and local income taxes, net of any applicable federal income tax benefit | 2.48 |  |  | 2.61 |  |  | 1.79 |
Foreign income taxes | 0.07 |  |  | (2.81 | ) |  | (2.40 | )
Uncertain tax position | (0.22 | ) |  | 0.01 |  |  | (1.96 | )
Tax benefit of equity-based compensation | (2.66 | ) |  | — |  |  | — |
Impact of US Tax Reform | 0.13 |  |  | — |  |  | — |
Other | (0.95 | ) |  | 0.50 |  |  | 1.30 |
Effective income tax rate | 26.85 | % |  | 35.31 | % |  | 33.73 | %
Reconciliation of unrecognized tax benefits table | A reconciliation of the beginning and ending amount of gross unrecognized tax benefits, excluding interest and penalties, is as follows:
| 2018 |  | 2017
| (In thousands)
Unrecognized tax benefits at beginning of year | $ | 16,278 |  |  | $ | 24,614 |
Additions for tax positions related to prior years | 652 |  |  | 648 |
Reductions for tax positions related to prior years | (4,033 | ) |  | (2,147 | )
Reductions due to settlements with taxing authorities | (702 | ) |  | (6,837 | )
Unrecognized tax benefits at end of year | $ | 12,195 |  |  | $ | 16,278 |

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