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INCOME TAXES (Tables) | 12 Months Ended
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Jul. 01, 2023
Income Tax Disclosure [Abstract] |
Schedule of Earnings Before Income Taxes By Jurisdiction | For financial reporting purposes, earnings (loss) before income taxes consists of the following:
| 2023 |  | 2022 |  | 2021
| (In thousands)
U.S. | $ | 1,941,581 |  |  | $ | 1,642,376 |  |  | $ | 858,179 |
Foreign | 343,774 |  |  | 104,397 |  |  | (273,451) |
Total | $ | 2,285,355 |  |  | $ | 1,746,773 |  |  | $ | 584,728 |
Schedule of Income Tax Provision by Jurisdiction | The income tax provision for each fiscal year consists of the following:
| 2023 |  | 2022 |  | 2021
| (In thousands)
U.S. federal income taxes | $ | 388,534 |  |  | $ | 353,825 |  |  | $ | 158,762 |
State and local income taxes | 78,805 |  |  | 45,502 |  |  | 17,808 |
Foreign income taxes | 47,892 |  |  | (11,322) |  |  | (116,051) |
Total | $ | 515,231 |  |  | $ | 388,005 |  |  | $ | 60,519 |
Schedule of Income Tax Provision by Component | The current and deferred components of the income tax provisions for each fiscal year are as follows:
| 2023 |  | 2022 |  | 2021
| (In thousands)
Current | $ | 531,665 |  |  | $ | 452,459 |  |  | $ | 218,383 |
Deferred | (16,434) |  |  | (64,454) |  |  | (157,864) |
Total | $ | 515,231 |  |  | $ | 388,005 |  |  | $ | 60,519 |
Schedule of Tax Rate Reconciliation | Reconciliations of the statutory federal income tax rate to the effective income tax rates for each fiscal year are as follows:
| 2023 |  | 2022 |  | 2021
U.S. statutory federal income tax rate | 21.00 | % |  | 21.00 | % |  | 21.00 | %
State and local income taxes, net of any applicable federal income tax benefit | 2.63 |  |  | 2.41 |  |  | 2.67 |
Foreign income taxes | (1.08) |  |  | (1.88) |  |  | (9.99) |
Uncertain tax positions | 0.06 |  |  | 0.83 |  |  | (0.38) |
Tax benefit of equity-based compensation | (0.11) |  |  | (0.16) |  |  | (1.07) |
Other | 0.05 |  |  | 0.01 |  |  | (1.88) |
Effective income tax rate | 22.55 | % |  | 22.21 | % |  | 10.35 | %
Schedule of Components of Deferred Tax Assets and Liabilities | Significant components of Sysco’s deferred tax assets and liabilities are as follows:
| Jul. 1, 2023 |  | Jul. 2, 2022
| (In thousands)
Deferred tax assets: |  |  |
Net operating tax loss carryforwards | $ | 536,582 |  |  | $ | 483,165 |
Interest carryforwards | 204,880 |  |  | 169,642 |
Operating lease liabilities | 170,982 |  |  | 161,684 |
Pension | 101,359 |  |  | 71,722 |
Receivables | 50,831 |  |  | 43,108 |
Inventory | 26,540 |  |  | 24,394 |
Deferred compensation | 26,441 |  |  | 27,984 |
Share-based compensation | 24,080 |  |  | 30,395 |
Other | 60,689 |  |  | 97,249 |
Deferred tax assets before valuation allowances | 1,202,384 |  |  | 1,109,343 |
Valuation allowances | (267,388) |  |  | (240,591) |
Total deferred tax assets | 934,996 |  |  | 868,752 |
Deferred tax liabilities: |  |  |
Goodwill and intangible assets | 363,534 |  |  | 379,018 |
Excess tax depreciation and basis differences of assets | 237,998 |  |  | 150,578 |
Operating lease assets | 171,812 |  |  | 161,163 |
Foreign currency remeasurement losses and currency hedge | 16,264 |  |  | — |
Other | 27,842 |  |  | 50,560 |
Total deferred tax liabilities | 817,450 |  |  | 741,319 |
Total net deferred tax assets | $ | 117,546 |  |  | $ | 127,433 |
Schedule of Reconciliation of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of gross unrecognized tax benefits, excluding interest and penalties, is as follows:
| 2023 |  | 2022
| (In thousands)
Unrecognized tax benefits at beginning of year | $ | 32,400 |  |  | $ | 20,400 |
Additions for tax positions related to prior years | — |  |  | 12,000 |
Unrecognized tax benefits at end of year | $ | 32,400 |  |  | $ | 32,400 |

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