XML 58 R42.htm IDEA: XBRL DOCUMENT
v3.23.2

GOODWILL AND OTHER INTANGIBLES (Tables) | 12 Months Ended
--- | ---
Jul. 01, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Goodwill Roll Forward Table by Reporting Segments | The changes in the carrying amount of goodwill by reportable segment for the years presented are as follows:
| U.S. Foodservice Operations |  | International Foodservice Operations |  | SYGMA |  | Other |  | Total
| (In thousands)
Carrying amount as of July 3, 2021 | $ | 1,353,604 |  |  | $ | 2,369,773 |  |  | $ | 32,607 |  |  | $ | 188,155 |  |  | $ | 3,944,139 |
Goodwill acquired during year | 851,899 |  |  | 9,227 |  |  | — |  |  | — |  |  | 861,126 |
Currency translation/other | 6,012 |  |  | (268,797) |  |  | — |  |  | (165) |  |  | (262,950) |
Carrying amount as of July 2, 2022 | $ | 2,211,515 |  |  | $ | 2,110,203 |  |  | $ | 32,607 |  |  | $ | 187,990 |  |  | $ | 4,542,315 |
Goodwill acquired during year | 38,827 |  |  | — |  |  | — |  |  | — |  |  | 38,827 |
Currency translation/other | (2,941) |  |  | 67,587 |  |  | — |  |  | (34) |  |  | 64,612 |
Carrying amount as of July 1, 2023 | $ | 2,247,401 |  |  | $ | 2,177,790 |  |  | $ | 32,607 |  |  | $ | 187,956 |  |  | $ | 4,645,754 |
Schedule of Amortized Intangible Assets | Fully amortized intangible assets have been removed in the period fully amortized in the table below which presents the company’s amortizable intangible assets in total by category as follows:
| Jul. 1, 2023 |  | Jul. 2, 2022
| Gross Carrying Amount |  | Accumulated Amortization |  | Net |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net
| (In thousands)
Customer relationships | $ | 1,284,045 |  |  | $ | (684,815) |  |  | $ | 599,230 |  |  | $ | 1,280,809 |  |  | $ | (594,691) |  |  | $ | 686,118 |
Non-compete agreements | 26,010 |  |  | (14,966) |  |  | 11,044 |  |  | 22,147 |  |  | (10,943) |  |  | 11,204 |
Trademarks | 146,986 |  |  | (26,037) |  |  | 120,949 |  |  | 148,151 |  |  | (17,175) |  |  | 130,976 |
Total amortizable intangible assets | $ | 1,457,041 |  |  | $ | (725,818) |  |  | $ | 731,223 |  |  | $ | 1,451,107 |  |  | $ | (622,809) |  |  | $ | 828,298 |
Schedule of Indefinite-Lived Intangible Assets | The table below presents the company’s indefinite-lived intangible assets by category as follows:
| Jul. 1, 2023 |  | Jul. 2, 2022
| (In thousands)
Trademarks | $ | 127,341 |  |  | $ | 123,419 |
Licenses | 966 |  |  | 966 |
Total indefinite-lived intangible assets | $ | 128,307 |  |  | $ | 124,385 |
Schedule of Intangibles Estimated Amortization Expense for the Next Five Years | The estimated future amortization expense for the next five fiscal years on intangible assets outstanding as of July 1, 2023 is shown below:
| Amount
| (In thousands)
2024 | $ | 126,173 |
2025 | 117,551 |
2026 | 74,241 |
2027 | 66,383 |
2028 | 63,116 |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482665/350-30-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482665/350-30-50-2 + Details
Name: | us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 24 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482548/350-20-55-24 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (g) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1A -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-2 + Details
Name: | us-gaap_ScheduleOfGoodwillTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance and exist in perpetuity, by either major class or business segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482665/350-30-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b),(d) -SubTopic 30 -Topic 350 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482665/350-30-50-3 + Details
Name: | us-gaap_ScheduleOfIndefiniteLivedIntangibleAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482665/350-30-50-2 + Details
Name: | us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration