Sysco (SYY) 10-Q 3 Feb 21 2021 Q2 Quarterly report Financial data

COVER PAGE

COVER PAGE - shares	6 Months Ended
	Dec. 26, 2020	Jan. 15, 2021
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 26, 2020
Document Transition Report	false
Entity File Number	1-6544
Entity Registrant Name	Sysco Corporation
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	74-1648137
Entity Address, Address Line One	1390 Enclave Parkway
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77077
City Area Code	281
Local Phone Number	584-1390
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		510,411,966
Entity Central Index Key	0000096021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Amendment Flag	false
Current Fiscal Year End Date	--07-03
Common Stock
Document Information [Line Items]
Title of each class	Common stock, $1.00 Par Value
Trading Symbol	SYY
Security Exchange Name	NYSE
Senior Notes, 1.25% Due 2023
Document Information [Line Items]
Title of each class	1.25% Notes due June 2023
Trading Symbol	SYY 23
Security Exchange Name	NYSE

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 26, 2020	Jun. 27, 2020
Current assets
Cash and cash equivalents	$ 5,767,034	$ 6,059,427
Accounts receivable, less allowances of $254,347 and $334,810	2,855,424	2,893,551
Inventories	3,100,478	3,095,085
Prepaid expenses and other current assets	223,872	192,163
Income tax receivable	44,621	108,006
Total current assets	11,991,429	12,348,232
Plant and equipment at cost, less accumulated depreciation	4,382,737	4,458,567
Other long-term assets
Goodwill	3,929,636	3,732,469
Intangibles, less amortization	798,649	780,172
Deferred income taxes	280,511	194,115
Operating lease right-of-use assets, net	635,664	603,616
Other assets	471,225	511,095
Total other long-term assets	6,115,685	5,821,467
Total assets	22,489,851	22,628,266
Current liabilities
Notes payable	8,754	2,266
Accounts payable	3,554,624	3,447,065
Accrued expenses	1,679,429	1,616,289
Accrued income taxes	0	2,938
Current operating lease liabilities	107,633	107,167
Current maturities of long-term debt	1,366,103	1,542,128
Total current liabilities	6,716,543	6,717,853
Long-term liabilities
Long-term debt	12,463,284	12,902,485
Deferred income taxes	47,780	86,601
Long-term operating lease liabilities	563,548	523,496
Other long-term liabilities	1,235,939	1,204,953
Total long-term liabilities	14,310,551	14,717,535
Noncontrolling interest	35,958	34,265
Shareholders’ equity
Preferred stock, par value $1 per share Authorized 1,500,000 shares, issued none	0	0
Common stock, par value $1 per share Authorized 2,000,000,000 shares, issued 765,174,900 shares	765,175	765,175
Paid-in capital	1,565,255	1,506,901
Retained earnings	10,383,493	10,563,008
Accumulated other comprehensive loss	(1,388,169)	(1,710,881)
Treasury stock at cost, 255,176,469 and 256,915,825 shares	(9,898,955)	(9,965,590)
Total shareholders’ equity	1,426,799	1,158,613
Total liabilities and shareholders’ equity	$ 22,489,851	$ 22,628,266

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 26, 2020	Jun. 27, 2020
Statement of Financial Position [Abstract]
Allowance for accounts receivable	$ 254,347	$ 334,810
Preferred stock, par value (in dollars per share)	$ 1	$ 1
Preferred stock, authorized (in shares)	1,500,000	1,500,000
Preferred stock, issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, authorized (in shares)	2,000,000,000	2,000,000,000
Common stock, issued (in shares)	765,174,900	765,174,900
Treasury stock (in shares)	255,176,469	256,915,825

CONSOLIDATED RESULTS OF OPERATI

CONSOLIDATED RESULTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 26, 2020	Dec. 28, 2019
Income Statement [Abstract]
Sales	$ 11,558,982	$ 15,025,042	$ 23,336,361	$ 30,328,047
Cost of sales	9,460,524	12,196,643	19,018,058	24,556,278
Gross profit	2,098,458	2,828,399	4,318,303	5,771,769
Operating expenses	1,886,396	2,275,906	3,686,662	4,550,958
Operating income	212,062	552,493	631,641	1,220,811
Interest expense	146,498	76,762	293,215	160,097
Other (income) expense, net	(15,556)	(807)	(1,432)	2,305
Earnings before income taxes	81,120	476,538	339,858	1,058,409
Income taxes	13,831	93,128	55,669	221,218
Net earnings	$ 67,289	$ 383,410	$ 284,189	$ 837,191
Net earnings:
Basic earnings per share (in dollars per share)	$ 0.13	$ 0.75	$ 0.56	$ 1.64
Diluted earnings per share (in dollars per share)	$ 0.13	$ 0.74	$ 0.56	$ 1.62
Average shares outstanding (in shares)	510,006,754	509,984,743	509,567,080	511,721,290
Diluted shares outstanding (in shares)	512,742,792	515,517,792	511,740,778	517,120,395

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 26, 2020	Dec. 28, 2019
Statement of Comprehensive Income [Abstract]
Net earnings	$ 67,289	$ 383,410	$ 284,189	$ 837,191
Other comprehensive income:
Foreign currency translation adjustment	222,507	154,955	335,647	28,796
Items presented net of tax:
Amortization of cash flow hedges	2,155	2,155	4,310	4,310
Change in net investment hedges	(20,666)	(41,479)	(31,927)	(11,479)
Change in cash flow hedges	12,335	(14,797)	(632)	(5,538)
Amortization of prior service cost	137	1,428	274	2,856
Amortization of actuarial loss	7,793	7,225	15,558	13,908
Change in marketable securities	(44)	(386)	(518)	547
Total other comprehensive income	224,217	109,101	322,712	33,400
Comprehensive income	$ 291,506	$ 492,511	$ 606,901	$ 870,591

CHANGES IN CONSOLIDATED SHAREHO

CHANGES IN CONSOLIDATED SHAREHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Paid-in Capital	Retained Earnings	Retained EarningsCumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Loss	Treasury Stock
Beginning balance (shares) at Jun. 29, 2019			765,174,900					(252,297,926)
Beginning balance, shareholders' equity at Jun. 29, 2019	$ 2,502,603	$ 1,978	$ 765,175	$ 1,457,419	$ 11,229,679	$ 1,978	$ (1,599,729)	$ (9,349,941)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	837,191				837,191
Foreign currency translation adjustment	28,796						28,796
Amortization of cash flow hedges, net of tax	4,310						4,310
Change in cash flow hedges, net of tax	(5,538)						(5,538)
Change in net investment hedges, net of tax	(11,479)						(11,479)
Reclassification of pension and other postretirement benefit plans amounts to net earnings, net of tax	16,764						16,764
Change in marketable securities, net of tax	547						547
Dividends declared ($0.45 per common share)	(429,121)				(429,121)
Treasury stock purchases (in shares)								8,089,327
Treasury stock purchases	(628,948)							$ (628,948)
Share-based compensation awards (in shares)								(4,054,865)
Share-based compensation awards	210,423			68,713				$ 141,710
Ending balance (shares) at Dec. 28, 2019			765,174,900					(256,332,388)
Ending balance, shareholders' equity at Dec. 28, 2019	$ 2,527,526		$ 765,175	1,526,132	11,639,727		(1,566,329)	$ (9,837,179)
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201613Member
Beginning balance (shares) at Jun. 29, 2019			765,174,900					(252,297,926)
Beginning balance, shareholders' equity at Jun. 29, 2019	$ 2,502,603	1,978	$ 765,175	1,457,419	11,229,679	1,978	(1,599,729)	$ (9,349,941)
Ending balance (shares) at Jun. 27, 2020			765,174,900					(256,915,825)
Ending balance, shareholders' equity at Jun. 27, 2020	1,158,613	(2,068)	$ 765,175	1,506,901	10,563,008	(2,068)	(1,710,881)	$ (9,965,590)
Beginning balance (shares) at Sep. 28, 2019			765,174,900					(254,310,626)
Beginning balance, shareholders' equity at Sep. 28, 2019	2,454,748		$ 765,175	1,490,661	11,486,833		(1,675,430)	$ (9,612,491)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	383,410				383,410
Foreign currency translation adjustment	154,955						154,955
Amortization of cash flow hedges, net of tax	2,155						2,155
Change in cash flow hedges, net of tax	(14,797)						(14,797)
Change in net investment hedges, net of tax	(41,479)						(41,479)
Reclassification of pension and other postretirement benefit plans amounts to net earnings, net of tax	8,653						8,653
Change in marketable securities, net of tax	(386)						(386)
Dividends declared ($0.45 per common share)	(230,516)				(230,516)
Treasury stock purchases (in shares)								3,501,930
Treasury stock purchases	(281,081)							$ (281,081)
Share-based compensation awards (in shares)								(1,480,168)
Share-based compensation awards	91,864			35,471				$ 56,393
Ending balance (shares) at Dec. 28, 2019			765,174,900					(256,332,388)
Ending balance, shareholders' equity at Dec. 28, 2019	2,527,526		$ 765,175	1,526,132	11,639,727		(1,566,329)	$ (9,837,179)
Beginning balance (shares) at Jun. 27, 2020			765,174,900					(256,915,825)
Beginning balance, shareholders' equity at Jun. 27, 2020	1,158,613	$ (2,068)	$ 765,175	1,506,901	10,563,008	$ (2,068)	(1,710,881)	$ (9,965,590)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	284,189				284,189
Foreign currency translation adjustment	335,647						335,647
Amortization of cash flow hedges, net of tax	4,310						4,310
Change in cash flow hedges, net of tax	(632)						(632)
Change in net investment hedges, net of tax	(31,927)						(31,927)
Reclassification of pension and other postretirement benefit plans amounts to net earnings, net of tax	15,832						15,832
Change in marketable securities, net of tax	(518)						(518)
Dividends declared ($0.45 per common share)	(461,636)				(461,636)
Share-based compensation awards (in shares)								(1,739,356)
Share-based compensation awards	124,989			58,354				$ 66,635
Ending balance (shares) at Dec. 26, 2020			765,174,900					(255,176,469)
Ending balance, shareholders' equity at Dec. 26, 2020	1,426,799		$ 765,175	1,565,255	10,383,493		(1,388,169)	$ (9,898,955)
Beginning balance (shares) at Sep. 26, 2020			765,174,900					(256,075,772)
Beginning balance, shareholders' equity at Sep. 26, 2020	1,300,011		$ 765,175	1,534,281	10,546,598		(1,612,386)	$ (9,933,657)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	67,289				67,289
Foreign currency translation adjustment	222,507						222,507
Amortization of cash flow hedges, net of tax	2,155						2,155
Change in cash flow hedges, net of tax	12,335						12,335
Change in net investment hedges, net of tax	(20,666)						(20,666)
Reclassification of pension and other postretirement benefit plans amounts to net earnings, net of tax	7,930						7,930
Change in marketable securities, net of tax	(44)						(44)
Dividends declared ($0.45 per common share)	(230,394)				(230,394)
Share-based compensation awards (in shares)								(899,303)
Share-based compensation awards	65,676			30,974				$ 34,702
Ending balance (shares) at Dec. 26, 2020			765,174,900					(255,176,469)
Ending balance, shareholders' equity at Dec. 26, 2020	$ 1,426,799		$ 765,175	$ 1,565,255	$ 10,383,493		$ (1,388,169)	$ (9,898,955)

CHANGES IN CONSOLIDATED SHARE_2

CHANGES IN CONSOLIDATED SHAREHOLDERS’ EQUITY (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 26, 2020	Dec. 28, 2019
Statement of Stockholders' Equity [Abstract]
Dividends declared per common share (in dollars per share)	$ 0.45	$ 0.45	$ 0.90	$ 0.84

CONSOLIDATED CASH FLOWS (Unaudi

CONSOLIDATED CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Dec. 26, 2020	Dec. 28, 2019
Cash flows from operating activities:
Net earnings	$ 284,189	$ 837,191
Adjustments to reconcile net earnings to cash provided by operating activities:
Share-based compensation expense	47,122	46,644
Depreciation and amortization	365,332	372,416
Operating lease asset amortization	55,231	53,444
Amortization of debt issuance and other debt-related costs	12,946	9,889
Deferred income taxes	(107,821)	(75,898)
Provision for losses on receivables	(94,242)	38,418
Loss on sale of business	12,043	0
Other non-cash items	(9,312)	3,239
Additional changes in certain assets and liabilities, net of effect of businesses acquired:
Decrease (increase) in receivables	192,121	(161,158)
Decrease (increase) in inventories	37,345	(279,403)
Increase in prepaid expenses and other current assets	(22,519)	(38,503)
Increase (decrease) in accounts payable	84,708	(191,280)
Increase (decrease) in accrued expenses	20,108	(49,866)
Decrease in operating lease liabilities	(63,496)	(62,101)
Increase in accrued income taxes	63,385	182,557
Decrease in other assets	20,576	13,023
Increase in other long-term liabilities	38,962	55,857
Net cash provided by operating activities	936,678	754,469
Cash flows from investing activities:
Additions to plant and equipment	(163,944)	(393,379)
Proceeds from sales of plant and equipment	15,510	10,293
Acquisition of businesses, net of cash acquired	0	(142,783)
Purchase of marketable securities	(36,121)	(11,424)
Proceeds from sales of marketable securities	20,797	9,038
Other investing activities	0	565
Net cash used for investing activities	(163,758)	(527,690)
Cash flows from financing activities:
Bank and commercial paper borrowings, net	6,463	721,415
Other debt borrowings	4,094	18,966
Other debt repayments	(773,663)	(23,234)
Proceeds from stock option exercises	66,635	141,709
Stock repurchases	0	(630,395)
Dividends paid	(458,717)	(399,093)
Other financing activities	(873)	(22,461)
Net cash used for financing activities	(1,156,061)	(193,093)
Effect of exchange rates on cash, cash equivalents and restricted cash	77,056	5,565
Net (decrease) increase in cash, cash equivalents and restricted cash	(306,085)	39,251
Cash, cash equivalents and restricted cash at beginning of period	6,095,570	532,245
Cash, cash equivalents and restricted cash at end of period	5,789,485	571,496
Cash paid during the period for:
Interest	290,926	162,720
Income taxes	$ 110,453	$ 122,049

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Dec. 26, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION The consolidated financial statements have been prepared by the company, without audit. The financial statements include consolidated balance sheets, consolidated results of operations, consolidated statements of comprehensive income, changes in consolidated shareholders’ equity and consolidated cash flows. In the opinion of management, all adjustments, which consist of normal recurring adjustments, except as otherwise disclosed, necessary to present fairly the financial position, results of operations, comprehensive income, cash flows and changes in shareholders’ equity for all periods presented have been made. These financial statements should be read in conjunction with the audited financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended June 27, 2020. Sysco’s fiscal year ends on the Saturday nearest to June 30th. This results in a 53-week year ending July 3, 2021 for fiscal 2021. Certain footnote disclosures included in annual financial statements prepared in accordance with generally accepted accounting principles (GAAP) have been condensed or omitted pursuant to applicable rules and regulations for interim financial statements. Supplemental Cash Flow Information The following table sets forth the company’s reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balance sheets that sum to the total of the amounts shown in the consolidated statement of cash flows: Dec. 26, 2020 Dec. 28, 2019 (In thousands) Cash and cash equivalents $ 5,767,034 $ 524,578 Restricted cash (1) 22,451 46,918 Total cash, cash equivalents and restricted cash shown in the consolidated statement of cash flows $ 5,789,485 $ 571,496 (1) Restricted cash primarily represents cash and cash equivalents of Sysco’s wholly owned captive insurance subsidiary, restricted for use to secure the insurer’s obligations for workers’ compensation, general liability and auto liability programs. Restricted cash is located within other assets in each consolidated balance sheet.

CHANGES IN ACCOUNTING

CHANGES IN ACCOUNTING	6 Months Ended
	Dec. 26, 2020
Accounting Changes and Error Corrections [Abstract]
CHANGES IN ACCOUNTING	CHANGES IN ACCOUNTING Financial Instruments - Credit Losses In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which introduces a forward-looking approach, based on expected losses, to estimate credit losses on certain types of financial instruments, including trade receivables. Sysco adopted this ASU as of June 28, 2020, the first day of fiscal 2021, with no significant impact to the company’s financial statements. Implementation Costs Incurred in a Cloud Computing Arrangement In August 2018, the FASB issued ASU 2018-15, Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract, which aligns the accounting for implementation costs incurred in a cloud computing arrangement that is a service contract with the guidance on capitalizing costs associated with developing or obtaining internal-use software. The guidance amends Accounting Standards Codification (ASC) 350 to include in its scope implementation costs of a cloud computing arrangement that is a service contract and clarifies that a customer should apply ASC 350 to determine which implementation costs should be capitalized in such a cloud computing arrangement. Sysco adopted this ASU on June 28, 2020 on a prospective basis with no effect on the company’s financial statements.

REVENUE

REVENUE	6 Months Ended
	Dec. 26, 2020
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE The company recognizes revenues when its performance obligations are satisfied in an amount that reflects the consideration Sysco expects to be entitled to receive in exchange for those goods and services. After completion of Sysco’s performance obligations, the company has an unconditional right to consideration as outlined in its contracts with customers. Sysco’s customer receivables will generally be collected in less than 30 days in accordance with the underlying payment terms. Customer receivables, which are included in accounts receivable, less allowances in the consolidated balance sheet, were $2.6 billion and $2.7 billion as of December 26, 2020 and June 27, 2020, respectively. Sysco has certain customer contracts in which upfront monies are paid to its customers. These payments have become industry practice and are not related to financing of the customer’s business. They are not associated with any distinct good or service to be received from the customer and, therefore, are treated as a reduction of transaction prices. All upfront payments are capitalized in other assets and amortized over the life of the contract or the expected life of the relationship with the customer. As of December 26, 2020, Sysco’s contract assets were not significant. Sysco has no significant commissions paid that are directly attributable to obtaining a particular contract. The following tables present our sales disaggregated by reportable segment and sales mix for the company’s principal product categories for the periods presented: 13-Week Period Ended Dec. 26, 2020 US Foodservice Operations International Foodservice Operations SYGMA Other Total (In thousands) Principal Product Categories Fresh and frozen meats $ 1,500,064 $ 267,817 $ 402,133 $ — $ 2,170,014 Canned and dry products 1,406,053 383,170 32,867 — 1,822,090 Frozen fruits, vegetables, bakery and other 1,070,227 394,706 275,422 — 1,740,355 Poultry 844,377 174,717 217,621 — 1,236,715 Dairy products 818,810 208,208 142,966 — 1,169,984 Paper and disposables 715,775 92,954 182,094 8,675 999,498 Fresh produce 696,879 145,565 66,528 — 908,972 Seafood 407,955 69,680 26,387 — 504,022 Beverage products 168,902 73,422 142,208 10,728 395,260 Other (1) 295,101 157,550 32,175 127,246 612,072 Total Sales $ 7,924,143 $ 1,967,789 $ 1,520,401 $ 146,649 $ 11,558,982 (1) Other sales relate to non-food products, including textiles and amenities for our hotel supply business, equipment, and other janitorial products, medical supplies and smallwares. 13-Week Period Ended Dec. 28, 2019 US Foodservice Operations International Foodservice Operations SYGMA Other Total (In thousands) Principal Product Categories Fresh and frozen meats $ 2,071,447 $ 409,483 $ 392,584 $ — $ 2,873,514 Canned and dry products 1,861,743 578,998 38,652 — 2,479,393 Frozen fruits, vegetables, bakery and other 1,459,470 572,991 266,540 — 2,299,001 Dairy products 1,139,820 299,830 142,967 — 1,582,617 Poultry 1,064,679 214,781 200,481 — 1,479,941 Fresh produce 952,857 256,183 59,318 — 1,268,358 Paper and disposables 689,890 90,778 166,313 15,290 962,271 Seafood 601,709 129,065 23,383 — 754,157 Beverage products 276,626 130,766 139,106 20,912 567,410 Other (1) 295,334 207,178 26,549 229,319 758,380 Total Sales $ 10,413,575 $ 2,890,053 $ 1,455,893 $ 265,521 $ 15,025,042 (1) Other sales relate to non-food products, including textiles and amenities for our hotel supply business, equipment and subscription sales for our Sysco Labs business, and other janitorial products, medical supplies and smallwares. 26-Week Period Ended Dec. 26, 2020 US Foodservice Operations International Foodservice Operations SYGMA Other Total (In thousands) Principal Product Categories Fresh and frozen meats $ 2,997,869 $ 581,989 $ 831,053 $ — $ 4,410,911 Canned and dry products 2,812,198 774,747 62,440 — 3,649,385 Frozen fruits, vegetables, bakery and other 2,127,476 821,271 532,209 — 3,480,956 Poultry 1,679,256 353,743 434,255 — 2,467,254 Dairy products 1,655,075 441,164 289,995 — 2,386,234 Paper and disposables 1,396,600 183,663 361,268 20,313 1,961,844 Fresh produce 1,407,799 316,103 131,510 — 1,855,412 Seafood 890,652 158,247 51,483 — 1,100,382 Beverage products 348,919 150,888 290,799 21,938 812,544 Other (1) 529,832 349,667 59,537 272,403 1,211,439 Total Sales $ 15,845,676 $ 4,131,482 $ 3,044,549 $ 314,654 $ 23,336,361 (1) Other sales relate to non-food products, including textiles and amenities for our hotel supply business, equipment and subscription sales for our Sysco Labs business, and other janitorial products, medical supplies and smallwares. 26-Week Period Ended Dec. 28, 2019 US Foodservice Operations International Foodservice Operations SYGMA Other Total (In thousands) Principal Product Categories Fresh and frozen meats $ 4,146,747 $ 821,638 $ 773,962 $ — $ 5,742,347 Canned and dry products 3,760,632 1,165,622 75,842 — 5,002,096 Frozen fruits, vegetables, bakery and other 2,908,688 1,125,005 520,995 — 4,554,688 Dairy products 2,288,201 612,008 288,888 — 3,189,097 Poultry 2,154,785 433,381 404,749 — 2,992,915 Fresh produce 1,951,020 513,941 120,252 — 2,585,213 Paper and disposables 1,409,431 189,120 334,748 32,663 1,965,962 Seafood 1,287,119 278,656 48,238 — 1,614,013 Beverage products 567,412 263,618 282,785 45,240 1,159,055 Other (1) 598,173 399,452 52,428 472,608 1,522,661 Total Sales $ 21,072,208 $ 5,802,441 $ 2,902,887 $ 550,511 $ 30,328,047 (1) Other sales relate to non-food products, including textiles and amenities for our hotel supply business, equipment and subscription sales for our Sysco Labs business, and other janitorial products, medical supplies and smallwares. Credit Risk Sysco is potentially subject to group concentrations of credit risk with respect to accounts receivable, as large amounts of the company’s trade receivables are concentrated on customers within the food away from home industry across North America and Europe. The prolonged disruption of Sysco’s customers’ businesses due to the COVID-19 pandemic has created additional bad debt risk for the company. Many of Sysco’s customers, including those in the restaurant, hospitality and education segments, are operating at a substantially reduced volume due to governmental requirements for closures or other social-distancing measures, and a portion of Sysco’s customers are closed. Some of these customers have ceased paying their outstanding receivables, creating uncertainty as to their collectability. Sysco determines the past due status of trade receivables based on contractual terms with each customer, evaluates the collectability of accounts receivable to determine an appropriate allowance for doubtful accounts. To calculate an allowance for doubtful accounts, the company estimates uncollectible amounts based on historical loss experience, including those experienced during times of local and regional disasters, current conditions and collection rates, and expectations regarding future losses. The COVID-19 pandemic is more widespread and longer in duration than historical events impacting Sysco’s business, and it is possible that actual uncollectible amounts will differ from historical results. In the first 26 weeks of fiscal 2021, Sysco recognized a net $94.2 million benefit on its provision for losses on receivables. In the third and fourth quarters of fiscal 2020, the company experienced an increase in past due receivables and recognized additional bad debt charges on its trade receivables that were outstanding at the time the pandemic caused closures among our customers in mid-March 2020. These receivables were all created in fiscal 2020 and are referred to as pre-pandemic receivables. In the first 26 weeks of fiscal 2021, collections of the company’s pre-pandemic receivables have improved, and its reserve for doubtful accounts has been reduced accordingly, resulting in a $128.9 million benefit. Additional reserves of $34.7 million were recorded in the first 26 weeks of fiscal 2021 for receivables relating to periods beginning after the onset of the COVID-19 pandemic. Below is a summary of the activity in the allowance for credit losses for trade receivables for the first 26 weeks of fiscal 2021: 26-Week Period Ended Dec. 26, 2020 (In thousands) Balance at beginning of period $ 334,810 Charged to costs and expenses (94,242) Customer accounts written off, net of recoveries 22,675 Other adjustments (8,896) Balance at end of period $ 254,347

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Dec. 26, 2020
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (i.e., an exit price). The accounting guidance includes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The three levels of the fair value hierarchy are as follows: • Level 1 – Unadjusted quoted prices for identical assets or liabilities in active markets; • Level 2 – Inputs other than quoted prices in active markets for identical assets and liabilities that are observable either directly or indirectly for substantially the full term of the asset or liability; and • Level 3 – Unobservable inputs for the asset or liability, which include management’s own assumption about the assumptions market participants would use in pricing the asset or liability, including assumptions about risk. Sysco’s policy is to invest in only high-quality investments. Cash equivalents primarily include cash deposits, time deposits, certificates of deposit, commercial paper, high-quality money market funds and all highly liquid instruments with original maturities of three months or less. The following is a description of the valuation methodologies used for assets and liabilities measured at fair value: • Cash deposits included in cash equivalents are valued at amortized cost, which approximates fair value. These are included within cash equivalents as a Level 1 measurement in the tables below. • Time deposits and commercial paper included in cash equivalents are valued at amortized cost, which approximates fair value. These are included within cash equivalents as a Level 2 measurement in the tables below. • Money market funds are valued at the closing price reported by the fund sponsor from an actively traded exchange. These are included within cash equivalents as Level 1 measurements in the tables below. • Fixed income securities are valued using evaluated bid prices based on a compilation of observable market information or a broker quote in a non-active market. Inputs used vary by type of security, but include spreads, yields, rate benchmarks, rate of prepayment, cash flows, rating changes and collateral performance and type. • The interest rate swap agreements are valued using a swap valuation model that utilizes an income approach using observable market inputs including interest rates, LIBOR swap rates and credit default swap rates. • The foreign currency swap agreements, including cross-currency swaps, are valued using a swap valuation model that utilizes an income approach applying observable market inputs including interest rates, LIBOR swap rates for U.S. dollars, Canadian dollars, pound sterling and euro currencies, and credit default swap rates. • Foreign currency forwards are valued based on exchange rates quoted by domestic and foreign banks for similar instruments. • Fuel swap contracts are valued based on observable market transactions of forward commodity prices. The fair value of the company’s marketable securities are all measured using inputs that are considered a Level 2 measurement, as they rely on quoted prices in markets that are not actively traded or observable inputs over the full term of the asset. The location and the fair value of the company’s marketable securities in the consolidated balance sheet are disclosed in Note 5, “Marketable Securities.” The fair value of the company’s derivative instruments are all measured using inputs that are considered a Level 2 measurement, as they are not actively traded and are valued using pricing models that use observable market quotations. The location and the fair value of derivative assets and liabilities designated as hedges in the consolidated balance sheet are disclosed in Note 6, “Derivative Financial Instruments.” The following tables present the company’s assets measured at fair value on a recurring basis as of December 26, 2020 and June 27, 2020: Assets Measured at Fair Value as of Dec. 26, 2020 Level 1 Level 2 Level 3 Total (In thousands) Assets: Cash equivalents Cash and cash equivalents $ 4,738,442 $ 489,977 $ — $ 5,228,419 Other assets (1) 22,451 — — 22,451 Total assets at fair value $ 4,760,893 $ 489,977 $ — $ 5,250,870 (1) Represents restricted cash balance recorded within other assets in the consolidated balance sheet. Assets Measured at Fair Value as of Jun. 27, 2020 Level 1 Level 2 Level 3 Total (In thousands) Assets: Cash equivalents Cash and cash equivalents $ 5,245,487 $ 300,200 $ — $ 5,545,687 Other assets (1) 36,143 — — 36,143 Total assets at fair value $ 5,281,630 $ 300,200 $ — $ 5,581,830 (1) Represents restricted cash balance recorded within other assets in the consolidated balance sheet. The carrying values of accounts receivable and accounts payable approximated their respective fair values due to their short-term maturities. The fair value of Sysco’s total debt is estimated based on the quoted market prices for the same or similar issues or on the current rates offered to the company for new debt with the same maturities as existing debt, and is considered a Level 2 measurement. The fair value of total debt was approximately $16.5 billion and $16.3 billion as of December 26, 2020 and June 27, 2020, respectively. The carrying value of total debt was $13.8 billion and $14.4 billion as of December 26, 2020 and June 27, 2020, respectively.

MARKETABLE SECURITIES

MARKETABLE SECURITIES	6 Months Ended
	Dec. 26, 2020
Investments, Debt and Equity Securities [Abstract]
MARKETABLE SECURITIES	MARKETABLE SECURITIESSysco invests a portion of the assets held by its wholly owned captive insurance subsidiary in a restricted investment portfolio of marketable fixed income securities, which have been classified and accounted for as available-for-sale. The company includes fixed income securities maturing in less than twelve months within prepaid expenses and other current assets and includes fixed income securities maturing in more than twelve months within other assets in the accompanying consolidated balance sheets. The company records the amounts at fair market value, which is determined using quoted market prices at the end of the reporting period. ASC 326 requires Sysco to estimate lifetime expected credit losses for all available-for-sale debt securities in an unrealized loss position by assessing credit indicators, including credit ratings, for the applicable securities. If the assessment indicates that an expected credit loss exists, the company determines the portion of the unrealized loss attributable to credit deterioration and records an allowance for the expected credit loss through the consolidated results of operations. Unrealized gains and any portion of a security’s unrealized loss attributable to non-credit losses are recorded in accumulated other comprehensive loss. There were no significant credit losses recognized in the first 26 weeks of fiscal 2021. The following table presents the company’s available-for-sale marketable securities as of December 26, 2020 and June 27, 2020: Dec. 26, 2020 Amortized Cost Basis Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-Term Marketable Securities Long-Term Marketable Securities (In thousands) Fixed income securities: Corporate bonds $ 89,476 $ 3,664 $ (68) $ 93,072 $ 17,777 $ 75,295 Government bonds 33,194 4,733 — 37,927 — 37,927 Total marketable securities $ 122,670 $ 8,397 $ (68) $ 130,999 $ 17,777 $ 113,222 Jun. 27, 2020 Amortized Cost Basis Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-Term Marketable Securities Long-Term Marketable Securities (In thousands) Fixed income securities: Corporate bonds $ 78,651 $ 4,064 $ — $ 82,715 $ 18,233 $ 64,482 Government bonds 28,633 4,919 — 33,552 — 33,552 Total marketable securities $ 107,284 $ 8,983 $ — $ 116,267 $ 18,233 $ 98,034 As of December 26, 2020, the balance of available-for-sale securities by contractual maturity is shown in the following table. Within the table, maturities of fixed income securities have been allocated based upon timing of estimated cash flows. Actual maturities may differ from contractual maturities because the issuers of the securities may have the right to prepay obligations without prepayment penalties. Dec. 26, 2020 (In thousands) Due in one year or less $ 17,777 Due after one year through five years 60,399 Due after five years through ten years 52,823 Total $ 130,999 There were no significant realized gains or losses in marketable securities in the second quarter or the first 26 weeks of fiscal 2021.

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	6 Months Ended
	Dec. 26, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	DERIVATIVE FINANCIAL INSTRUMENTSSysco uses derivative financial instruments to enact hedging strategies for risk mitigation purposes; however, the company does not use derivative financial instruments for trading or speculative purposes. Hedging strategies are used to manage interest rate risk, foreign currency risk and fuel price risk. Hedging of interest rate risk Sysco manages its debt portfolio with interest rate swaps from time to time to achieve an overall desired position of fixed and floating rates. In the first quarter of fiscal 2021, Sysco settled some of its previously held interest rate swap contracts, which had a notional value of $750 million, due to the redemption of Sysco’s 2.60% senior notes. Hedging of foreign currency risk Sysco previously entered into cross-currency swap contracts to hedge the foreign currency transaction risk of certain intercompany loans. There were no credit-risk related contingent features associated with these swaps, which had been designated as cash flow hedges. In the first quarter of 2021, Sysco settled its cross-currency swaps, which had a notional value of £234 million. The company also uses euro-bond denominated debt to hedge the foreign currency exposure of our net investment in certain foreign operations. Additionally, Sysco’s operations in Europe have inventory purchases denominated in currencies other than their functional currency, such as the euro, U.S. dollar, Polish zloty and Danish krone. These inventory purchases give rise to foreign currency exposure between the functional currency of each entity and these currencies. The company enters into foreign currency forward swap contracts to sell the applicable entity’s functional currency and buy currencies matching the inventory purchase, which operate as cash flow hedges of the company’s foreign currency-denominated inventory purchases. Hedging of fuel price risk Sysco uses fuel commodity swap contracts to hedge against the risk of the change in the price of diesel on anticipated future purchases. These swaps have been designated as cash flow hedges. None of the company’s hedging instruments contain credit-risk-related contingent features. Details of outstanding hedging instruments as of December 26, 2020 are presented below: Maturity Date of the Hedging Instrument Currency / Unit of Measure Notional Value (In millions) Hedging of interest rate risk July 2021 U.S. Dollar 500 June 2023 Euro 500 March 2025 U.S. Dollar 500 Hedging of foreign currency risk Various (December 28, 2020 to January 2021) Swedish Krona 64 June 2023 Euro 500 Hedging of fuel risk Various (December 31, 2020 to December 2021) Gallons 33 The location and the fair value of derivative instruments designated as hedges in the consolidated balance sheet as of December 26, 2020 and June 27, 2020 are as follows: Derivative Fair Value Balance Sheet location Dec. 26, 2020 Jun. 27, 2020 (In thousands) Fair Value Hedges: Interest rate swaps Other current assets $ 2,678 $ 1,388 Interest rate swaps Other assets 58,053 69,782 Cash Flow Hedges: Fuel swaps Other current assets $ 3,428 $ 233 Foreign currency forwards Other current assets 34 1,063 Fuel swaps Other assets — 1,173 Cross currency swaps Other assets — 19,614 Fuel swaps Other current liabilities 6,973 28,242 Foreign currency forwards Other current liabilities 163 222 Gains or losses recognized in the consolidated results of operations for cash flow hedging relationships are not significant for each of the periods presented. The location and amount of gains or losses recognized in the consolidated results of operations for fair value hedging relationships for each of the periods, presented on a pretax basis, are as follows: 13-Week Period Ended 26-Week Period Ended Dec. 26, 2020 Dec. 28, 2019 Dec. 26, 2020 Dec. 28, 2019 (In thousands) Total amounts of income and expense line items presented in the consolidated results of operations in which the effects of fair value hedges are recorded $ 146,498 $ 76,762 $ 293,215 $ 160,097 Gain or (loss) on fair value hedging relationships: Interest rate swaps: Hedged items $ (3,793) $ (5,350) $ (13,791) $ (30,086) Derivatives designated as hedging instruments (296) (9,248) 3,161 (391) The losses on the fair value hedging relationships associated with the hedged items as disclosed in the table above are comprised of the following components for each of the periods presented: 13-Week Period Ended 26-Week Period Ended Dec. 26, 2020 Dec. 28, 2019 Dec. 26, 2020 Dec. 28, 2019 (In thousands) Interest expense $ (9,735) $ (14,560) $ (24,568) $ (29,117) Increase (decrease) in fair value of debt (5,942) (9,210) (10,777) 969 Hedged items $ (3,793) $ (5,350) $ (13,791) $ (30,086) The location and effect of cash flow and net investment hedge accounting on the consolidated statements of comprehensive income for the 13-week periods ended December 26, 2020 and December 28, 2019, presented on a pretax basis, are as follows: 13-Week Period Ended Dec. 26, 2020 Amount of Gain or (Loss) Recognized in Other Comprehensive Income on Derivatives Location of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income into Income Amount of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income into Income (In thousands) (In thousands) Derivatives in cash flow hedging relationships: Fuel swaps $ 16,939 Operating expense $ (7,613) Foreign currency contracts (587) Cost of sales / Other income — Total $ 16,352 $ (7,613) Derivatives in net investment hedging relationships: Foreign denominated debt (27,554) N/A — Total $ (27,554) $ — 13-Week Period Ended Dec. 28, 2019 Amount of Gain or (Loss) Recognized in Other Comprehensive Income on Derivatives Location of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income into Income Amount of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income into Income (In thousands) (In thousands) Derivatives in cash flow hedging relationships: Fuel swaps $ 10,345 Operating expense $ (3,213) Foreign currency contracts (29,658) Cost of sales / Other income 3,624 Total $ (19,313) $ 411 Derivatives in net investment hedging relationships: Foreign currency contracts $ (34,639) N/A $ — Foreign denominated debt (11,650) N/A — Total $ (46,289) $ — The location and effect of cash flow and net investment hedge accounting on the consolidated statements of comprehensive income for the 26-week periods ended December 26, 2020 and December 28, 2019, presented on a pretax basis, are as follows: 26-Week Period Ended Dec. 26, 2020 Amount of Gain or (Loss) Recognized in Other Comprehensive Income on Derivatives Location of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income into Income Amount of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income into Income (In thousands) (In thousands) Derivatives in cash flow hedging relationships: Fuel swaps $ 19,830 Operating expense $ (16,265) Foreign currency contracts (20,319) Cost of sales / Other income (2,692) Total $ (489) $ (18,957) Derivatives in net investment hedging relationships: Foreign currency contracts $ — N/A $ — Foreign denominated debt (47,953) N/A — Total $ (47,953) $ — 26-Week Period Ended Dec. 28, 2019 Amount of Gain or (Loss) Recognized in Other Comprehensive Income on Derivatives Location of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income into Income Amount of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income into Income (In thousands) (In thousands) Derivatives in cash flow hedging relationships: Fuel swaps $ 10,689 Operating expense $ (6,619) Foreign currency contracts (17,351) Cost of sales / Other income 3,626 Total $ (6,662) $ (2,993) Derivatives in net investment hedging relationships: Foreign currency contracts $ (13,787) N/A $ — Foreign denominated debt 9,800 N/A — Total $ (3,987) $ — The location and carrying amount of hedged liabilities in the consolidated balance sheet as of December 26, 2020 are as follows: Dec. 26, 2020 Carrying Amount of Hedged Assets (Liabilities) Cumulative Amount of Fair Value Hedging Adjustments Included in the Carrying Amount of Hedged Assets (Liabilities) (In thousands) Balance sheet location: Current maturities of long-term debt $ (499,778) $ (2,797) Long-term debt (1,064,694) (58,053) The location and carrying amount of hedged liabilities in the consolidated balance sheet as of June 27, 2020 are as follows: Jun. 27, 2020 Carrying Amount of Hedged Assets (Liabilities) Cumulative Amount of Fair Value Hedging Adjustments Included in the Carrying Amount of Hedged Assets (Liabilities) (In thousands) Balance sheet location: Current maturities of long-term debt $ (749,924) $ (1,388) Long-term debt (1,563,636) (70,239)

DEBT

DEBT	6 Months Ended
	Dec. 26, 2020
Debt Disclosure [Abstract]
DEBT	DEBT The company has a $2.0 billion long-term revolving credit facility that expires on June 28, 2024, subject to extension. As of December 26, 2020, there were $700.0 million in borrowings outstanding under this facility. Sysco has a U.S. commercial paper program allowing the company to issue short-term unsecured notes in an aggregate amount not to exceed $2.0 billion. As of December 26, 2020, there were no commercial paper issuances outstanding under this program. Any outstanding amounts are classified within long-term debt, as the program is supported by the long-term revolving credit facility. Sysco’s United Kingdom-based subsidiary, Brake Bros Limited, has a separate U.K. commercial paper program for the purpose of issuing short-term, unsecured Sterling-denominated notes in an aggregate amount not to exceed £600.0 million. As of December 26, 2020, there were £600.0 million in aggregate principal amount of notes outstanding under this commercial paper program. The notes under this commercial paper program will mature through May 7, 2021 and are classified within current maturities of long-term debt. During the first 26 weeks of fiscal 2021, aggregate outstanding commercial paper issuances, borrowings under our long-term revolving credit facility and short-term bank borrowings ranged from approximately $1.4 billion to approximately $1.5 billion. In September 2020, Sysco redeemed all $750 million of its outstanding 2.60% senior notes prior to the October 2020 maturity utilizing a combination of cash flow from operations and net proceeds from senior note issuances in fiscal 2020.

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Dec. 26, 2020
Earnings Per Share, Basic [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE The following table sets forth the computation of basic and diluted earnings per share: 13-Week Period Ended 26-Week Period Ended Dec. 26, 2020 Dec. 28, 2019 Dec. 26, 2020 Dec. 28, 2019 (In thousands, except for share (In thousands, except for share Numerator: Net earnings $ 67,289 $ 383,410 $ 284,189 $ 837,191 Denominator: Weighted-average basic shares outstanding 510,006,754 509,984,743 509,567,080 511,721,290 Dilutive effect of share-based awards 2,736,038 5,533,049 2,173,698 5,399,105 Weighted-average diluted shares outstanding 512,742,792 515,517,792 511,740,778 517,120,395 Basic earnings per share $ 0.13 $ 0.75 $ 0.56 $ 1.64 Diluted earnings per share $ 0.13 $ 0.74 $ 0.56 $ 1.62

OTHER COMPREHENSIVE INCOME

OTHER COMPREHENSIVE INCOME	6 Months Ended
	Dec. 26, 2020
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Other Comprehensive Income	OTHER COMPREHENSIVE INCOME Comprehensive income is net earnings plus certain other items that are recorded directly to shareholders’ equity, such as foreign currency translation adjustment, changes in marketable securities, amounts related to certain hedging arrangements and amounts related to pension and other postretirement plans. Comprehensive income was $291.5 million and $492.5 million for the second quarter of fiscal 2021 and fiscal 2020, respectively. Comprehensive income was $606.9 million and $870.6 million for the first 26 weeks of fiscal 2021 and fiscal 2020, respectively. A summary of the components of other comprehensive income (loss) and the related tax effects for each of the periods presented is as follows: 13-Week Period Ended Dec. 26, 2020 Location of Before Tax Tax Net of Tax (In thousands) Pension and other postretirement benefit plans: Reclassification adjustments: Amortization of prior service cost Other expense, net $ 183 $ 46 $ 137 Amortization of actuarial loss, net Other expense, net 10,387 2,594 7,793 Total reclassification adjustments 10,570 2,640 7,930 Foreign currency translation: Foreign currency translation adjustment N/A 222,507 — 222,507 Marketable securities: Change in marketable securities (1) N/A (55) (11) (44) Hedging instruments: Other comprehensive income (loss) before reclassification adjustments: Change in cash flow hedge Operating expenses (2) 16,352 4,017 12,335 Change in net investment hedge N/A (27,554) (6,888) (20,666) Total other comprehensive income before reclassification adjustments (11,202) (2,871) (8,331) Reclassification adjustments: Amortization of cash flow hedges Interest expense 2,874 719 2,155 Total other comprehensive income $ 224,694 $ 477 $ 224,217 (1) Realized gains or losses on marketa ble securities are presented within other (income) expense, net in the consolidated results of operations; however, there were no significant gains or losses realized in the second quarter of fiscal 2021. (2) Amount partially impacts operating expense for fuel swaps accounted for as cash flow hedges. 13-Week Period Ended Dec. 28, 2019 Location of Before Tax Tax Net of Tax (In thousands) Pension and other postretirement benefit plans: Reclassification adjustments: Amortization of prior service cost Other expense, net $ 1,905 $ 477 $ 1,428 Amortization of actuarial loss, net Other expense, net 9,630 2,405 7,225 Total reclassification adjustments 11,535 2,882 8,653 Foreign currency translation: Foreign currency translation adjustment N/A 154,955 — 154,955 Marketable Securities: Change in marketable securities (1) N/A (489) (103) (386) Hedging instruments: Other comprehensive income (loss) before reclassification adjustments: Change in cash flow hedges Operating expenses (2) (19,313) (4,516) (14,797) Change in net investment hedges N/A (46,289) (4,810) (41,479) Total other comprehensive income (loss) before reclassification adjustments (65,602) (9,326) (56,276) Reclassification adjustments: Amortization of cash flow hedges Interest expense 2,874 719 2,155 Total other comprehensive income (loss) $ 103,273 $ (5,828) $ 109,101 (1) Realized gains or losses on marketable securities are presented within other (income) expense, net in the consolidated results of operations; however, there were no significant gains or losses realized in the second quarter of fiscal 2020. (2) Amount partially impacts operating expense for fuel swaps accounted for as cash flow hedges. 26-Week Period Ended Dec. 26, 2020 Location of Before Tax Tax Net of Tax (In thousands) Pension and other postretirement benefit plans: Reclassification adjustments: Amortization of prior service cost Other expense, net $ 366 $ 92 $ 274 Amortization of actuarial loss, net Other expense, net 20,740 5,182 15,558 Total reclassification adjustments 21,106 5,274 15,832 Foreign currency translation: Other comprehensive income (loss) before reclassification adjustments: Foreign currency translation adjustment N/A 335,647 — 335,647 Marketable securities: Change in marketable securities (1) N/A (655) (137) (518) Hedging instruments: Other comprehensive income (loss) before reclassification adjustments: Change in cash flow hedges (3) Operating expenses (2) (489) 143 (632) Change in net investment hedges (3) N/A (47,953) (16,026) (31,927) Total other comprehensive income before reclassification adjustments (48,442) (15,883) (32,559) Reclassification adjustments: Amortization of cash flow hedges Interest expense 5,748 1,438 4,310 Total other comprehensive income (loss) $ 313,404 $ (9,308) $ 322,712 (1) Realized gains or losses on marketable securities are presented within other (income) expense, net in the consolidated results of operations; however, there were no significant gains or losses realized in the first 26 weeks of fiscal 2021. (2) Amount partially impacts operating expense for fuel swaps accounted for as cash flow hedges. (3) Change in cash flow hedges includes the termination of some cash flow hedges, as described in Note 6, “Derivative Financial Instruments.” 26-Week Period Ended Dec. 28, 2019 Location of Before Tax Tax Net of Tax (In thousands) Pension and other postretirement benefit plans: Reclassification adjustments: Amortization of prior service cost Other expense, net $ 3,810 $ 954 $ 2,856 Amortization of actuarial loss, net Other expense, net 18,572 4,664 13,908 Total reclassification adjustments 22,382 5,618 16,764 Foreign currency translation: Foreign currency translation adjustment N/A 28,796 — 28,796 Marketable Securities: Change in marketable securities (1) N/A 692 145 547 Hedging instruments: Other comprehensive income (loss) before reclassification adjustments: Change in cash flow hedges Operating expenses (2) (6,662) (1,124) (5,538) Change in net investment hedges N/A (3,987) 7,492 (11,479) Total other comprehensive income (loss) before reclassification adjustments (10,649) 6,368 (17,017) Reclassification adjustments: Amortization of cash flow hedges Interest expense 5,748 1,438 4,310 Total other comprehensive income $ 46,969 $ 13,569 $ 33,400 (1) Realized gains or losses on marketable securities are presented within Other (income) expense, net in the Consolidated Results of Operations; however, there were no significant gains or losses realized in the first 26 weeks of fiscal 2020. (2) Amount partially impacts operating expense for fuel swaps accounted for as cash flow hedges. The following tables provide a summary of the changes in accumulated other comprehensive (loss) income for the periods presented: 26-Week Period Ended Dec. 26, 2020 Pension and Other Postretirement Benefit Plans, Foreign Currency Translation Hedging, Marketable Securities, Total (In thousands) Balance as of June 27, 2020 $ (1,265,714) $ (402,384) $ (49,878) $ 7,095 $ (1,710,881) Equity adjustment from foreign currency translation — 335,647 — — 335,647 Amortization of cash flow hedges — — 4,310 — 4,310 Change in net investment hedges — — (31,927) — (31,927) Change in cash flow hedge — — (632) — (632) Amortization of unrecognized prior service cost 274 — — — 274 Amortization of unrecognized net actuarial losses 15,558 — — — 15,558 Change in marketable securities — — — (518) (518) Balance as of Dec. 26, 2020 $ (1,249,882) $ (66,737) $ (78,127) $ 6,577 $ (1,388,169) 26-Week Period Ended Dec. 28, 2019 Pension and Other Postretirement Benefit Plans, Foreign Currency Translation Hedging, Marketable Securities, Total (In thousands) Balance as of Jun. 29, 2019 $ (1,217,617) $ (290,169) $ (94,770) $ 2,827 $ (1,599,729) Equity adjustment from foreign currency translation — 28,796 — — 28,796 Amortization of cash flow hedges — — 4,310 — 4,310 Change in net investment hedges — — (11,479) — (11,479) Change in cash flow hedge — — (5,538) — (5,538) Amortization of unrecognized prior service cost 2,856 — — — 2,856 Amortization of unrecognized net actuarial losses 13,908 — — — 13,908 Change in marketable securities — — — 547 547 Balance as of Dec. 28, 2019 $ (1,200,853) $ (261,373) $ (107,477) $ 3,374 $ (1,566,329)

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	6 Months Ended
	Dec. 26, 2020
Share-based Payment Arrangement [Abstract]
SHARE-BASED COMPENSATION	SHARE-BASED COMPENSATION Sysco provides compensation benefits to employees under several share-based payment arrangements, including various long-term employee stock incentive plans and the 2015 Employee Stock Purchase Plan (ESPP). Stock Incentive Plans In the first 26 weeks of fiscal 2021, options to purchase 1,943,368 shares were granted to employees. The fair value of each option award is estimated as of the date of grant using a Black-Scholes option pricing model. The weighted average grant-date fair value per option granted during the first 26 weeks of fiscal 2021 was $13.63. In the first 26 weeks of fiscal 2021, 794,659 performance share units (PSUs) were granted to employees. Based on the jurisdiction in which the employee resides, some of these PSUs were granted with forfeitable dividend equivalents. The fair value of each PSU award granted with a dividend equivalent is based on the company’s stock price as of the date of grant. For PSUs granted without dividend equivalents, the fair value was reduced by the present value of expected dividends during the vesting period. The weighted average grant-date fair value per PSU granted during the first 26 weeks of fiscal 2021 was $58.71. The PSUs will convert into shares of Sysco common stock at the end of the two-year performance period based on actual performance targets achieved, as well as the market-based return of Sysco’s common stock relative to that of each company within the S&P 500 index. In the first 26 weeks of fiscal 2021, 415,910 r estricted stock units were granted to employees. The weighted average grant-date fair value per restricted stock unit granted during the first 26 weeks of fiscal 2021 was $57.90. Employee Stock Purchase Plan Plan participants purchased 452,013 shares of common stock under the Sysco ESPP during the first 26 weeks of fiscal 2021. The weighted average fair value per employee stock purchase right issued pursuant to the ESPP was $3.41 during the first 26 weeks of fiscal 2021. The fair value of each stock purchase right is estimated as the difference between the stock price at the date of issuance and the employee purchase price. All Share-Based Payment Arrangements The total share-based compensation cost that has been recognized in results of operations was $47.1 million and $46.6 million for the first 26 weeks of fiscal 2021 and fiscal 2020, respectively. As of December 26, 2020, there was $123.8 million of total unrecognized compensation cost related to share-based compensation arrangements. This cost is expected to be recognized over a weighted-average period of 1.91 years.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Dec. 26, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Effective Tax Rate The effective tax rates for the second quarter and first 26 weeks of fiscal 2021 were 17.05% and 16.38%, respectively. As compared to the company’s statutory tax rate, the lower effective tax rate for the second quarter and first 26 weeks of fiscal 2021 was impacted by (1) the favorable impact of excess tax benefits of equity-based compensation that totaled $4.3 million and $6.6 million, respectively, (2) the $7.6 million tax benefit attributable to the sale of the stock of Cake Corporation in the first quarter, and (3) the impact of changes in tax law in the U.K. of $5.5 million in the first quarter. The effective tax rates for the second quarter and first 26 weeks of fiscal 2020 were 19.54% and 20.90%, respectively. The lower effective tax rate for the second quarter and first 26 weeks of fiscal 2020 was primarily due to the favorable impact of excess tax benefits of equity-based compensation that totaled $11.8 million and $27.5 million, respectively. Uncertain Tax Positions As of December 26, 2020, the gross amount of unrecognized tax benefit and related accrued interest was $20.4 million and $2.4 million, respectively. It is reasonably possible that the amount of the unrecognized tax benefit with respect to certain of the company’s unrecognized tax positions will increase or decrease in the next twelve months. At this time, an estimate of the range of the reasonably possible change cannot be made. Other The determination of the company’s provision for income taxes requires judgment, the use of estimates and the interpretation and application of complex tax laws. The company’s provision for income taxes reflects income earned and taxed in the various U.S. federal and state, as well as foreign jurisdictions. Tax law changes, increases or decreases in permanent book versus tax basis differences, accruals or adjustments of accruals for unrecognized tax benefits or valuation allowances, and the company’s change in the mix of earnings from these taxing jurisdictions all affect the overall effective tax rate.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Dec. 26, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Legal Proceedings Sysco is engaged in various legal proceedings that have arisen but have not been fully adjudicated. The likelihood of loss for these legal proceedings, based on definitions within contingency accounting literature, ranges from remote to reasonably possible to probable. When probable and reasonably estimable, the losses have been accrued. Although the final results of legal proceedings cannot be predicted with certainty, based on estimates of the range of potential losses associated with these matters, management does not believe the ultimate resolution of these proceedings, either individually or in the aggregate, will have a material adverse effect upon the consolidated financial position or results of operations of the company.

BUSINESS SEGMENT INFORMATION

BUSINESS SEGMENT INFORMATION	6 Months Ended
	Dec. 26, 2020
Segment Reporting [Abstract]
BUSINESS SEGMENT INFORMATION	BUSINESS SEGMENT INFORMATION The company has aggregated certain of its operating segments into three reportable segments. “Other” financial information is attributable to the company’s other operating segments that do not meet the quantitative disclosure thresholds. • U.S. Foodservice Operations – primarily includes U.S. Broadline operations, which distribute a full line of food products including custom-cut meat, seafood, specialty produce, specialty imports and a wide variety of non-food products; • International Foodservice Operations – includes operations in the Americas and Europe, which distribute a full line of food products and a wide variety of non-food products. The Americas primarily consists of operations in Canada, Bahamas, Mexico, Costa Rica and Panama, as well as the company’s operations that distribute to international customers. The company’s European operations primarily consist of operations in the United Kingdom (U.K.), France, Ireland and Sweden; • SYGMA – the company’s U.S. customized distribution subsidiary; and • Other – primarily our hotel supply operations, Guest Worldwide. Sysco sold its interests in Cake Corporation in the first quarter of fiscal 2021. The accounting policies for the segments are the same as those disclosed by Sysco for its consolidated financial statements. Corporate expenses generally include all expenses of the corporate office and Sysco’s shared services center. These also include all share-based compensation costs. During the fourth quarter of fiscal 2020, Sysco revised the way performance is assessed for the U.S. Foodservice Operations segment. As a result of this change, charges incurred by the company’s corporate and shared services center, to provide direct support functions to the U.S. Foodservice Operations reportable segment, have been reclassified from Corporate expenses into the U.S. Foodservice reportable segment. The segment information disclosed for the first 26 weeks of fiscal 2021 reflects this change in reporting structure. The second quarter and first 26 weeks of fiscal 2020 results reflect $64.0 million and $131.8 million, respectively, of corporate expense reclassifications to conform with the current year presentation. The following tables set forth certain financial information for Sysco’s reportable business segments. 13-Week Period Ended 26-Week Period Ended Dec. 26, 2020 Dec. 28, 2019 Dec. 26, 2020 Dec. 28, 2019 Sales: (In thousands) (In thousands) U.S. Foodservice Operations $ 7,924,143 $ 10,413,575 $ 15,845,676 $ 21,072,208 International Foodservice Operations 1,967,789 2,890,053 4,131,482 5,802,441 SYGMA 1,520,401 1,455,893 3,044,549 2,902,887 Other 146,649 265,521 314,654 550,511 Total $ 11,558,982 $ 15,025,042 $ 23,336,361 $ 30,328,047 13-Week Period Ended 26-Week Period Ended Dec. 26, 2020 Dec. 28, 2019 Dec. 26, 2020 Dec. 28, 2019 Operating income (loss): (In thousands) (In thousands) U.S. Foodservice Operations $ 485,251 $ 704,801 $ 1,073,660 $ 1,498,420 International Foodservice Operations (79,949) 34,881 (80,486) 89,681 SYGMA 11,328 9,861 23,020 17,431 Other (1,018) 9,403 (1,023) 19,540 Total segments 415,612 758,946 1,015,171 1,625,072 Corporate (203,550) (206,453) (383,530) (404,261) Total operating income 212,062 552,493 631,641 1,220,811 Interest expense 146,498 76,762 293,215 160,097 Other (income) expense, net (15,556) (807) (1,432) 2,305 Earnings before income taxes $ 81,120 $ 476,538 $ 339,858 $ 1,058,409

CHANGES IN ACCOUNTING (Policies

CHANGES IN ACCOUNTING (Policies)	6 Months Ended
	Dec. 26, 2020
Accounting Changes and Error Corrections [Abstract]
New Accounting Standards	Financial Instruments - Credit Losses In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which introduces a forward-looking approach, based on expected losses, to estimate credit losses on certain types of financial instruments, including trade receivables. Sysco adopted this ASU as of June 28, 2020, the first day of fiscal 2021, with no significant impact to the company’s financial statements. Implementation Costs Incurred in a Cloud Computing Arrangement In August 2018, the FASB issued ASU 2018-15, Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract, which aligns the accounting for implementation costs incurred in a cloud computing arrangement that is a service contract with the guidance on capitalizing costs associated with developing or obtaining internal-use software. The guidance amends Accounting Standards Codification (ASC) 350 to include in its scope implementation costs of a cloud computing arrangement that is a service contract and clarifies that a customer should apply ASC 350 to determine which implementation costs should be capitalized in such a cloud computing arrangement. Sysco adopted this ASU on June 28, 2020 on a prospective basis with no effect on the company’s financial statements.
Fair Value Measurements	Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (i.e., an exit price). The accounting guidance includes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The three levels of the fair value hierarchy are as follows: • Level 1 – Unadjusted quoted prices for identical assets or liabilities in active markets; • Level 2 – Inputs other than quoted prices in active markets for identical assets and liabilities that are observable either directly or indirectly for substantially the full term of the asset or liability; and • Level 3 – Unobservable inputs for the asset or liability, which include management’s own assumption about the assumptions market participants would use in pricing the asset or liability, including assumptions about risk. Sysco’s policy is to invest in only high-quality investments. Cash equivalents primarily include cash deposits, time deposits, certificates of deposit, commercial paper, high-quality money market funds and all highly liquid instruments with original maturities of three months or less. The following is a description of the valuation methodologies used for assets and liabilities measured at fair value: • Cash deposits included in cash equivalents are valued at amortized cost, which approximates fair value. These are included within cash equivalents as a Level 1 measurement in the tables below. • Time deposits and commercial paper included in cash equivalents are valued at amortized cost, which approximates fair value. These are included within cash equivalents as a Level 2 measurement in the tables below. • Money market funds are valued at the closing price reported by the fund sponsor from an actively traded exchange. These are included within cash equivalents as Level 1 measurements in the tables below. • Fixed income securities are valued using evaluated bid prices based on a compilation of observable market information or a broker quote in a non-active market. Inputs used vary by type of security, but include spreads, yields, rate benchmarks, rate of prepayment, cash flows, rating changes and collateral performance and type. • The interest rate swap agreements are valued using a swap valuation model that utilizes an income approach using observable market inputs including interest rates, LIBOR swap rates and credit default swap rates. • The foreign currency swap agreements, including cross-currency swaps, are valued using a swap valuation model that utilizes an income approach applying observable market inputs including interest rates, LIBOR swap rates for U.S. dollars, Canadian dollars, pound sterling and euro currencies, and credit default swap rates. • Foreign currency forwards are valued based on exchange rates quoted by domestic and foreign banks for similar instruments. • Fuel swap contracts are valued based on observable market transactions of forward commodity prices. The fair value of the company’s marketable securities are all measured using inputs that are considered a Level 2 measurement, as they rely on quoted prices in markets that are not actively traded or observable inputs over the full term of the asset. The location and the fair value of the company’s marketable securities in the consolidated balance sheet are disclosed in Note 5, “Marketable Securities.” The fair value of the company’s derivative instruments are all measured using inputs that are considered a Level 2 measurement, as they are not actively traded and are valued using pricing models that use observable market quotations. The location and the fair value of derivative assets and liabilities designated as hedges in the consolidated balance sheet are disclosed in Note 6, “Derivative Financial Instruments.”

BASIS OF PRESENTATION (Tables)

BASIS OF PRESENTATION (Tables)	6 Months Ended
	Dec. 26, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of reconciliation of cash, cash equivalents and restricted cash	The following table sets forth the company’s reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balance sheets that sum to the total of the amounts shown in the consolidated statement of cash flows: Dec. 26, 2020 Dec. 28, 2019 (In thousands) Cash and cash equivalents $ 5,767,034 $ 524,578 Restricted cash (1) 22,451 46,918 Total cash, cash equivalents and restricted cash shown in the consolidated statement of cash flows $ 5,789,485 $ 571,496 (1) Restricted cash primarily represents cash and cash equivalents of Sysco’s wholly owned captive insurance subsidiary, restricted for use to secure the insurer’s obligations for workers’ compensation, general liability and auto liability programs. Restricted cash is located within other assets in each consolidated balance sheet.
Restrictions on cash and cash equivalents	The following table sets forth the company’s reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balance sheets that sum to the total of the amounts shown in the consolidated statement of cash flows: Dec. 26, 2020 Dec. 28, 2019 (In thousands) Cash and cash equivalents $ 5,767,034 $ 524,578 Restricted cash (1) 22,451 46,918 Total cash, cash equivalents and restricted cash shown in the consolidated statement of cash flows $ 5,789,485 $ 571,496 (1) Restricted cash primarily represents cash and cash equivalents of Sysco’s wholly owned captive insurance subsidiary, restricted for use to secure the insurer’s obligations for workers’ compensation, general liability and auto liability programs. Restricted cash is located within other assets in each consolidated balance sheet.

REVENUE (Tables)

REVENUE (Tables)	6 Months Ended
	Dec. 26, 2020
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following tables present our sales disaggregated by reportable segment and sales mix for the company’s principal product categories for the periods presented: 13-Week Period Ended Dec. 26, 2020 US Foodservice Operations International Foodservice Operations SYGMA Other Total (In thousands) Principal Product Categories Fresh and frozen meats $ 1,500,064 $ 267,817 $ 402,133 $ — $ 2,170,014 Canned and dry products 1,406,053 383,170 32,867 — 1,822,090 Frozen fruits, vegetables, bakery and other 1,070,227 394,706 275,422 — 1,740,355 Poultry 844,377 174,717 217,621 — 1,236,715 Dairy products 818,810 208,208 142,966 — 1,169,984 Paper and disposables 715,775 92,954 182,094 8,675 999,498 Fresh produce 696,879 145,565 66,528 — 908,972 Seafood 407,955 69,680 26,387 — 504,022 Beverage products 168,902 73,422 142,208 10,728 395,260 Other (1) 295,101 157,550 32,175 127,246 612,072 Total Sales $ 7,924,143 $ 1,967,789 $ 1,520,401 $ 146,649 $ 11,558,982 (1) Other sales relate to non-food products, including textiles and amenities for our hotel supply business, equipment, and other janitorial products, medical supplies and smallwares. 13-Week Period Ended Dec. 28, 2019 US Foodservice Operations International Foodservice Operations SYGMA Other Total (In thousands) Principal Product Categories Fresh and frozen meats $ 2,071,447 $ 409,483 $ 392,584 $ — $ 2,873,514 Canned and dry products 1,861,743 578,998 38,652 — 2,479,393 Frozen fruits, vegetables, bakery and other 1,459,470 572,991 266,540 — 2,299,001 Dairy products 1,139,820 299,830 142,967 — 1,582,617 Poultry 1,064,679 214,781 200,481 — 1,479,941 Fresh produce 952,857 256,183 59,318 — 1,268,358 Paper and disposables 689,890 90,778 166,313 15,290 962,271 Seafood 601,709 129,065 23,383 — 754,157 Beverage products 276,626 130,766 139,106 20,912 567,410 Other (1) 295,334 207,178 26,549 229,319 758,380 Total Sales $ 10,413,575 $ 2,890,053 $ 1,455,893 $ 265,521 $ 15,025,042 (1) Other sales relate to non-food products, including textiles and amenities for our hotel supply business, equipment and subscription sales for our Sysco Labs business, and other janitorial products, medical supplies and smallwares. 26-Week Period Ended Dec. 26, 2020 US Foodservice Operations International Foodservice Operations SYGMA Other Total (In thousands) Principal Product Categories Fresh and frozen meats $ 2,997,869 $ 581,989 $ 831,053 $ — $ 4,410,911 Canned and dry products 2,812,198 774,747 62,440 — 3,649,385 Frozen fruits, vegetables, bakery and other 2,127,476 821,271 532,209 — 3,480,956 Poultry 1,679,256 353,743 434,255 — 2,467,254 Dairy products 1,655,075 441,164 289,995 — 2,386,234 Paper and disposables 1,396,600 183,663 361,268 20,313 1,961,844 Fresh produce 1,407,799 316,103 131,510 — 1,855,412 Seafood 890,652 158,247 51,483 — 1,100,382 Beverage products 348,919 150,888 290,799 21,938 812,544 Other (1) 529,832 349,667 59,537 272,403 1,211,439 Total Sales $ 15,845,676 $ 4,131,482 $ 3,044,549 $ 314,654 $ 23,336,361 (1) Other sales relate to non-food products, including textiles and amenities for our hotel supply business, equipment and subscription sales for our Sysco Labs business, and other janitorial products, medical supplies and smallwares. 26-Week Period Ended Dec. 28, 2019 US Foodservice Operations International Foodservice Operations SYGMA Other Total (In thousands) Principal Product Categories Fresh and frozen meats $ 4,146,747 $ 821,638 $ 773,962 $ — $ 5,742,347 Canned and dry products 3,760,632 1,165,622 75,842 — 5,002,096 Frozen fruits, vegetables, bakery and other 2,908,688 1,125,005 520,995 — 4,554,688 Dairy products 2,288,201 612,008 288,888 — 3,189,097 Poultry 2,154,785 433,381 404,749 — 2,992,915 Fresh produce 1,951,020 513,941 120,252 — 2,585,213 Paper and disposables 1,409,431 189,120 334,748 32,663 1,965,962 Seafood 1,287,119 278,656 48,238 — 1,614,013 Beverage products 567,412 263,618 282,785 45,240 1,159,055 Other (1) 598,173 399,452 52,428 472,608 1,522,661 Total Sales $ 21,072,208 $ 5,802,441 $ 2,902,887 $ 550,511 $ 30,328,047 (1) Other sales relate to non-food products, including textiles and amenities for our hotel supply business, equipment and subscription sales for our Sysco Labs business, and other janitorial products, medical supplies and smallwares.
Summary of the Activity in the Allowance for Credit Losses	Below is a summary of the activity in the allowance for credit losses for trade receivables for the first 26 weeks of fiscal 2021: 26-Week Period Ended Dec. 26, 2020 (In thousands) Balance at beginning of period $ 334,810 Charged to costs and expenses (94,242) Customer accounts written off, net of recoveries 22,675 Other adjustments (8,896) Balance at end of period $ 254,347

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Dec. 26, 2020
Fair Value Disclosures [Abstract]
Assets and liabilities measured at fair value table	The following tables present the company’s assets measured at fair value on a recurring basis as of December 26, 2020 and June 27, 2020: Assets Measured at Fair Value as of Dec. 26, 2020 Level 1 Level 2 Level 3 Total (In thousands) Assets: Cash equivalents Cash and cash equivalents $ 4,738,442 $ 489,977 $ — $ 5,228,419 Other assets (1) 22,451 — — 22,451 Total assets at fair value $ 4,760,893 $ 489,977 $ — $ 5,250,870 (1) Represents restricted cash balance recorded within other assets in the consolidated balance sheet. Assets Measured at Fair Value as of Jun. 27, 2020 Level 1 Level 2 Level 3 Total (In thousands) Assets: Cash equivalents Cash and cash equivalents $ 5,245,487 $ 300,200 $ — $ 5,545,687 Other assets (1) 36,143 — — 36,143 Total assets at fair value $ 5,281,630 $ 300,200 $ — $ 5,581,830 (1) Represents restricted cash balance recorded within other assets in the consolidated balance sheet.

MARKETABLE SECURITIES (Tables)

MARKETABLE SECURITIES (Tables)	6 Months Ended
	Dec. 26, 2020
Investments, Debt and Equity Securities [Abstract]
Available-for-sale marketable securities	The following table presents the company’s available-for-sale marketable securities as of December 26, 2020 and June 27, 2020: Dec. 26, 2020 Amortized Cost Basis Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-Term Marketable Securities Long-Term Marketable Securities (In thousands) Fixed income securities: Corporate bonds $ 89,476 $ 3,664 $ (68) $ 93,072 $ 17,777 $ 75,295 Government bonds 33,194 4,733 — 37,927 — 37,927 Total marketable securities $ 122,670 $ 8,397 $ (68) $ 130,999 $ 17,777 $ 113,222 Jun. 27, 2020 Amortized Cost Basis Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-Term Marketable Securities Long-Term Marketable Securities (In thousands) Fixed income securities: Corporate bonds $ 78,651 $ 4,064 $ — $ 82,715 $ 18,233 $ 64,482 Government bonds 28,633 4,919 — 33,552 — 33,552 Total marketable securities $ 107,284 $ 8,983 $ — $ 116,267 $ 18,233 $ 98,034
Available-for-sale debt securities held to actual maturity	As of December 26, 2020, the balance of available-for-sale securities by contractual maturity is shown in the following table. Within the table, maturities of fixed income securities have been allocated based upon timing of estimated cash flows. Actual maturities may differ from contractual maturities because the issuers of the securities may have the right to prepay obligations without prepayment penalties. Dec. 26, 2020 (In thousands) Due in one year or less $ 17,777 Due after one year through five years 60,399 Due after five years through ten years 52,823 Total $ 130,999

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Dec. 26, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of outstanding swap agreements	Details of outstanding hedging instruments as of December 26, 2020 are presented below: Maturity Date of the Hedging Instrument Currency / Unit of Measure Notional Value (In millions) Hedging of interest rate risk July 2021 U.S. Dollar 500 June 2023 Euro 500 March 2025 U.S. Dollar 500 Hedging of foreign currency risk Various (December 28, 2020 to January 2021) Swedish Krona 64 June 2023 Euro 500 Hedging of fuel risk Various (December 31, 2020 to December 2021) Gallons 33
Derivatives balance sheet location table	The location and the fair value of derivative instruments designated as hedges in the consolidated balance sheet as of December 26, 2020 and June 27, 2020 are as follows: Derivative Fair Value Balance Sheet location Dec. 26, 2020 Jun. 27, 2020 (In thousands) Fair Value Hedges: Interest rate swaps Other current assets $ 2,678 $ 1,388 Interest rate swaps Other assets 58,053 69,782 Cash Flow Hedges: Fuel swaps Other current assets $ 3,428 $ 233 Foreign currency forwards Other current assets 34 1,063 Fuel swaps Other assets — 1,173 Cross currency swaps Other assets — 19,614 Fuel swaps Other current liabilities 6,973 28,242 Foreign currency forwards Other current liabilities 163 222 The location and carrying amount of hedged liabilities in the consolidated balance sheet as of December 26, 2020 are as follows: Dec. 26, 2020 Carrying Amount of Hedged Assets (Liabilities) Cumulative Amount of Fair Value Hedging Adjustments Included in the Carrying Amount of Hedged Assets (Liabilities) (In thousands) Balance sheet location: Current maturities of long-term debt $ (499,778) $ (2,797) Long-term debt (1,064,694) (58,053) The location and carrying amount of hedged liabilities in the consolidated balance sheet as of June 27, 2020 are as follows: Jun. 27, 2020 Carrying Amount of Hedged Assets (Liabilities) Cumulative Amount of Fair Value Hedging Adjustments Included in the Carrying Amount of Hedged Assets (Liabilities) (In thousands) Balance sheet location: Current maturities of long-term debt $ (749,924) $ (1,388) Long-term debt (1,563,636) (70,239)
Schedule of location and effect of derivative instruments and related hedged items	The location and amount of gains or losses recognized in the consolidated results of operations for fair value hedging relationships for each of the periods, presented on a pretax basis, are as follows: 13-Week Period Ended 26-Week Period Ended Dec. 26, 2020 Dec. 28, 2019 Dec. 26, 2020 Dec. 28, 2019 (In thousands) Total amounts of income and expense line items presented in the consolidated results of operations in which the effects of fair value hedges are recorded $ 146,498 $ 76,762 $ 293,215 $ 160,097 Gain or (loss) on fair value hedging relationships: Interest rate swaps: Hedged items $ (3,793) $ (5,350) $ (13,791) $ (30,086) Derivatives designated as hedging instruments (296) (9,248) 3,161 (391) The losses on the fair value hedging relationships associated with the hedged items as disclosed in the table above are comprised of the following components for each of the periods presented: 13-Week Period Ended 26-Week Period Ended Dec. 26, 2020 Dec. 28, 2019 Dec. 26, 2020 Dec. 28, 2019 (In thousands) Interest expense $ (9,735) $ (14,560) $ (24,568) $ (29,117) Increase (decrease) in fair value of debt (5,942) (9,210) (10,777) 969 Hedged items $ (3,793) $ (5,350) $ (13,791) $ (30,086) The location and effect of cash flow and net investment hedge accounting on the consolidated statements of comprehensive income for the 13-week periods ended December 26, 2020 and December 28, 2019, presented on a pretax basis, are as follows: 13-Week Period Ended Dec. 26, 2020 Amount of Gain or (Loss) Recognized in Other Comprehensive Income on Derivatives Location of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income into Income Amount of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income into Income (In thousands) (In thousands) Derivatives in cash flow hedging relationships: Fuel swaps $ 16,939 Operating expense $ (7,613) Foreign currency contracts (587) Cost of sales / Other income — Total $ 16,352 $ (7,613) Derivatives in net investment hedging relationships: Foreign denominated debt (27,554) N/A — Total $ (27,554) $ — 13-Week Period Ended Dec. 28, 2019 Amount of Gain or (Loss) Recognized in Other Comprehensive Income on Derivatives Location of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income into Income Amount of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income into Income (In thousands) (In thousands) Derivatives in cash flow hedging relationships: Fuel swaps $ 10,345 Operating expense $ (3,213) Foreign currency contracts (29,658) Cost of sales / Other income 3,624 Total $ (19,313) $ 411 Derivatives in net investment hedging relationships: Foreign currency contracts $ (34,639) N/A $ — Foreign denominated debt (11,650) N/A — Total $ (46,289) $ — The location and effect of cash flow and net investment hedge accounting on the consolidated statements of comprehensive income for the 26-week periods ended December 26, 2020 and December 28, 2019, presented on a pretax basis, are as follows: 26-Week Period Ended Dec. 26, 2020 Amount of Gain or (Loss) Recognized in Other Comprehensive Income on Derivatives Location of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income into Income Amount of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income into Income (In thousands) (In thousands) Derivatives in cash flow hedging relationships: Fuel swaps $ 19,830 Operating expense $ (16,265) Foreign currency contracts (20,319) Cost of sales / Other income (2,692) Total $ (489) $ (18,957) Derivatives in net investment hedging relationships: Foreign currency contracts $ — N/A $ — Foreign denominated debt (47,953) N/A — Total $ (47,953) $ — 26-Week Period Ended Dec. 28, 2019 Amount of Gain or (Loss) Recognized in Other Comprehensive Income on Derivatives Location of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income into Income Amount of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income into Income (In thousands) (In thousands) Derivatives in cash flow hedging relationships: Fuel swaps $ 10,689 Operating expense $ (6,619) Foreign currency contracts (17,351) Cost of sales / Other income 3,626 Total $ (6,662) $ (2,993) Derivatives in net investment hedging relationships: Foreign currency contracts $ (13,787) N/A $ — Foreign denominated debt 9,800 N/A — Total $ (3,987) $ —

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Dec. 26, 2020
Earnings Per Share, Basic [Abstract]
Computation of basic and diluted earnings per share table	The following table sets forth the computation of basic and diluted earnings per share: 13-Week Period Ended 26-Week Period Ended Dec. 26, 2020 Dec. 28, 2019 Dec. 26, 2020 Dec. 28, 2019 (In thousands, except for share (In thousands, except for share Numerator: Net earnings $ 67,289 $ 383,410 $ 284,189 $ 837,191 Denominator: Weighted-average basic shares outstanding 510,006,754 509,984,743 509,567,080 511,721,290 Dilutive effect of share-based awards 2,736,038 5,533,049 2,173,698 5,399,105 Weighted-average diluted shares outstanding 512,742,792 515,517,792 511,740,778 517,120,395 Basic earnings per share $ 0.13 $ 0.75 $ 0.56 $ 1.64 Diluted earnings per share $ 0.13 $ 0.74 $ 0.56 $ 1.62

OTHER COMPREHENSIVE INCOME (Tab

OTHER COMPREHENSIVE INCOME (Tables)	6 Months Ended
	Dec. 26, 2020
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Summary of components of other comprehensive (loss) income and related tax effects	A summary of the components of other comprehensive income (loss) and the related tax effects for each of the periods presented is as follows: 13-Week Period Ended Dec. 26, 2020 Location of Before Tax Tax Net of Tax (In thousands) Pension and other postretirement benefit plans: Reclassification adjustments: Amortization of prior service cost Other expense, net $ 183 $ 46 $ 137 Amortization of actuarial loss, net Other expense, net 10,387 2,594 7,793 Total reclassification adjustments 10,570 2,640 7,930 Foreign currency translation: Foreign currency translation adjustment N/A 222,507 — 222,507 Marketable securities: Change in marketable securities (1) N/A (55) (11) (44) Hedging instruments: Other comprehensive income (loss) before reclassification adjustments: Change in cash flow hedge Operating expenses (2) 16,352 4,017 12,335 Change in net investment hedge N/A (27,554) (6,888) (20,666) Total other comprehensive income before reclassification adjustments (11,202) (2,871) (8,331) Reclassification adjustments: Amortization of cash flow hedges Interest expense 2,874 719 2,155 Total other comprehensive income $ 224,694 $ 477 $ 224,217 (1) Realized gains or losses on marketa ble securities are presented within other (income) expense, net in the consolidated results of operations; however, there were no significant gains or losses realized in the second quarter of fiscal 2021. (2) Amount partially impacts operating expense for fuel swaps accounted for as cash flow hedges. 13-Week Period Ended Dec. 28, 2019 Location of Before Tax Tax Net of Tax (In thousands) Pension and other postretirement benefit plans: Reclassification adjustments: Amortization of prior service cost Other expense, net $ 1,905 $ 477 $ 1,428 Amortization of actuarial loss, net Other expense, net 9,630 2,405 7,225 Total reclassification adjustments 11,535 2,882 8,653 Foreign currency translation: Foreign currency translation adjustment N/A 154,955 — 154,955 Marketable Securities: Change in marketable securities (1) N/A (489) (103) (386) Hedging instruments: Other comprehensive income (loss) before reclassification adjustments: Change in cash flow hedges Operating expenses (2) (19,313) (4,516) (14,797) Change in net investment hedges N/A (46,289) (4,810) (41,479) Total other comprehensive income (loss) before reclassification adjustments (65,602) (9,326) (56,276) Reclassification adjustments: Amortization of cash flow hedges Interest expense 2,874 719 2,155 Total other comprehensive income (loss) $ 103,273 $ (5,828) $ 109,101 (1) Realized gains or losses on marketable securities are presented within other (income) expense, net in the consolidated results of operations; however, there were no significant gains or losses realized in the second quarter of fiscal 2020. (2) Amount partially impacts operating expense for fuel swaps accounted for as cash flow hedges. 26-Week Period Ended Dec. 26, 2020 Location of Before Tax Tax Net of Tax (In thousands) Pension and other postretirement benefit plans: Reclassification adjustments: Amortization of prior service cost Other expense, net $ 366 $ 92 $ 274 Amortization of actuarial loss, net Other expense, net 20,740 5,182 15,558 Total reclassification adjustments 21,106 5,274 15,832 Foreign currency translation: Other comprehensive income (loss) before reclassification adjustments: Foreign currency translation adjustment N/A 335,647 — 335,647 Marketable securities: Change in marketable securities (1) N/A (655) (137) (518) Hedging instruments: Other comprehensive income (loss) before reclassification adjustments: Change in cash flow hedges (3) Operating expenses (2) (489) 143 (632) Change in net investment hedges (3) N/A (47,953) (16,026) (31,927) Total other comprehensive income before reclassification adjustments (48,442) (15,883) (32,559) Reclassification adjustments: Amortization of cash flow hedges Interest expense 5,748 1,438 4,310 Total other comprehensive income (loss) $ 313,404 $ (9,308) $ 322,712 (1) Realized gains or losses on marketable securities are presented within other (income) expense, net in the consolidated results of operations; however, there were no significant gains or losses realized in the first 26 weeks of fiscal 2021. (2) Amount partially impacts operating expense for fuel swaps accounted for as cash flow hedges. (3) Change in cash flow hedges includes the termination of some cash flow hedges, as described in Note 6, “Derivative Financial Instruments.” 26-Week Period Ended Dec. 28, 2019 Location of Before Tax Tax Net of Tax (In thousands) Pension and other postretirement benefit plans: Reclassification adjustments: Amortization of prior service cost Other expense, net $ 3,810 $ 954 $ 2,856 Amortization of actuarial loss, net Other expense, net 18,572 4,664 13,908 Total reclassification adjustments 22,382 5,618 16,764 Foreign currency translation: Foreign currency translation adjustment N/A 28,796 — 28,796 Marketable Securities: Change in marketable securities (1) N/A 692 145 547 Hedging instruments: Other comprehensive income (loss) before reclassification adjustments: Change in cash flow hedges Operating expenses (2) (6,662) (1,124) (5,538) Change in net investment hedges N/A (3,987) 7,492 (11,479) Total other comprehensive income (loss) before reclassification adjustments (10,649) 6,368 (17,017) Reclassification adjustments: Amortization of cash flow hedges Interest expense 5,748 1,438 4,310 Total other comprehensive income $ 46,969 $ 13,569 $ 33,400 (1) Realized gains or losses on marketable securities are presented within Other (income) expense, net in the Consolidated Results of Operations; however, there were no significant gains or losses realized in the first 26 weeks of fiscal 2020.
Rollforward of accumulated other comprehensive (loss) income	The following tables provide a summary of the changes in accumulated other comprehensive (loss) income for the periods presented: 26-Week Period Ended Dec. 26, 2020 Pension and Other Postretirement Benefit Plans, Foreign Currency Translation Hedging, Marketable Securities, Total (In thousands) Balance as of June 27, 2020 $ (1,265,714) $ (402,384) $ (49,878) $ 7,095 $ (1,710,881) Equity adjustment from foreign currency translation — 335,647 — — 335,647 Amortization of cash flow hedges — — 4,310 — 4,310 Change in net investment hedges — — (31,927) — (31,927) Change in cash flow hedge — — (632) — (632) Amortization of unrecognized prior service cost 274 — — — 274 Amortization of unrecognized net actuarial losses 15,558 — — — 15,558 Change in marketable securities — — — (518) (518) Balance as of Dec. 26, 2020 $ (1,249,882) $ (66,737) $ (78,127) $ 6,577 $ (1,388,169) 26-Week Period Ended Dec. 28, 2019 Pension and Other Postretirement Benefit Plans, Foreign Currency Translation Hedging, Marketable Securities, Total (In thousands) Balance as of Jun. 29, 2019 $ (1,217,617) $ (290,169) $ (94,770) $ 2,827 $ (1,599,729) Equity adjustment from foreign currency translation — 28,796 — — 28,796 Amortization of cash flow hedges — — 4,310 — 4,310 Change in net investment hedges — — (11,479) — (11,479) Change in cash flow hedge — — (5,538) — (5,538) Amortization of unrecognized prior service cost 2,856 — — — 2,856 Amortization of unrecognized net actuarial losses 13,908 — — — 13,908 Change in marketable securities — — — 547 547 Balance as of Dec. 28, 2019 $ (1,200,853) $ (261,373) $ (107,477) $ 3,374 $ (1,566,329)

BUSINESS SEGMENT INFORMATION (T

BUSINESS SEGMENT INFORMATION (Tables)	6 Months Ended
	Dec. 26, 2020
Segment Reporting [Abstract]
Business segment table	The following tables set forth certain financial information for Sysco’s reportable business segments. 13-Week Period Ended 26-Week Period Ended Dec. 26, 2020 Dec. 28, 2019 Dec. 26, 2020 Dec. 28, 2019 Sales: (In thousands) (In thousands) U.S. Foodservice Operations $ 7,924,143 $ 10,413,575 $ 15,845,676 $ 21,072,208 International Foodservice Operations 1,967,789 2,890,053 4,131,482 5,802,441 SYGMA 1,520,401 1,455,893 3,044,549 2,902,887 Other 146,649 265,521 314,654 550,511 Total $ 11,558,982 $ 15,025,042 $ 23,336,361 $ 30,328,047 13-Week Period Ended 26-Week Period Ended Dec. 26, 2020 Dec. 28, 2019 Dec. 26, 2020 Dec. 28, 2019 Operating income (loss): (In thousands) (In thousands) U.S. Foodservice Operations $ 485,251 $ 704,801 $ 1,073,660 $ 1,498,420 International Foodservice Operations (79,949) 34,881 (80,486) 89,681 SYGMA 11,328 9,861 23,020 17,431 Other (1,018) 9,403 (1,023) 19,540 Total segments 415,612 758,946 1,015,171 1,625,072 Corporate (203,550) (206,453) (383,530) (404,261) Total operating income 212,062 552,493 631,641 1,220,811 Interest expense 146,498 76,762 293,215 160,097 Other (income) expense, net (15,556) (807) (1,432) 2,305 Earnings before income taxes $ 81,120 $ 476,538 $ 339,858 $ 1,058,409

BASIS OF PRESENTATION (Details)

BASIS OF PRESENTATION (Details) - USD ($) $ in Thousands	Dec. 26, 2020	Jun. 27, 2020	Dec. 28, 2019	Jun. 29, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and cash equivalents	$ 5,767,034	$ 6,059,427	$ 524,578
Restricted cash	22,451		46,918
Total cash, cash equivalents and restricted cash shown in the consolidated statement of cash flows	$ 5,789,485	$ 6,095,570	$ 571,496	$ 532,245

REVENUE (Details)

REVENUE (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 26, 2020	Dec. 28, 2019
Disaggregation of Revenue [Line Items]
Revenue	$ 11,558,982	$ 15,025,042	$ 23,336,361	$ 30,328,047
Fresh and frozen meats
Disaggregation of Revenue [Line Items]
Revenue	2,170,014	2,873,514	4,410,911	5,742,347
Canned and dry products
Disaggregation of Revenue [Line Items]
Revenue	1,822,090	2,479,393	3,649,385	5,002,096
Frozen fruits, vegetables, bakery and other
Disaggregation of Revenue [Line Items]
Revenue	1,740,355	2,299,001	3,480,956	4,554,688
Poultry
Disaggregation of Revenue [Line Items]
Revenue	1,236,715	1,479,941	2,467,254	2,992,915
Dairy products
Disaggregation of Revenue [Line Items]
Revenue	1,169,984	1,582,617	2,386,234	3,189,097
Paper and disposables
Disaggregation of Revenue [Line Items]
Revenue	999,498	962,271	1,961,844	1,965,962
Fresh produce
Disaggregation of Revenue [Line Items]
Revenue	908,972	1,268,358	1,855,412	2,585,213
Seafood
Disaggregation of Revenue [Line Items]
Revenue	504,022	754,157	1,100,382	1,614,013
Beverage products
Disaggregation of Revenue [Line Items]
Revenue	395,260	567,410	812,544	1,159,055
Other
Disaggregation of Revenue [Line Items]
Revenue	612,072	758,380	1,211,439	1,522,661
US Foodservice Operations
Disaggregation of Revenue [Line Items]
Revenue	7,924,143	10,413,575	15,845,676	21,072,208
US Foodservice Operations | Fresh and frozen meats
Disaggregation of Revenue [Line Items]
Revenue	1,500,064	2,071,447	2,997,869	4,146,747
US Foodservice Operations | Canned and dry products
Disaggregation of Revenue [Line Items]
Revenue	1,406,053	1,861,743	2,812,198	3,760,632
US Foodservice Operations | Frozen fruits, vegetables, bakery and other
Disaggregation of Revenue [Line Items]
Revenue	1,070,227	1,459,470	2,127,476	2,908,688
US Foodservice Operations | Poultry
Disaggregation of Revenue [Line Items]
Revenue	844,377	1,064,679	1,679,256	2,154,785
US Foodservice Operations | Dairy products
Disaggregation of Revenue [Line Items]
Revenue	818,810	1,139,820	1,655,075	2,288,201
US Foodservice Operations | Paper and disposables
Disaggregation of Revenue [Line Items]
Revenue	715,775	689,890	1,396,600	1,409,431
US Foodservice Operations | Fresh produce
Disaggregation of Revenue [Line Items]
Revenue	696,879	952,857	1,407,799	1,951,020
US Foodservice Operations | Seafood
Disaggregation of Revenue [Line Items]
Revenue	407,955	601,709	890,652	1,287,119
US Foodservice Operations | Beverage products
Disaggregation of Revenue [Line Items]
Revenue	168,902	276,626	348,919	567,412
US Foodservice Operations | Other
Disaggregation of Revenue [Line Items]
Revenue	295,101	295,334	529,832	598,173
International Foodservice Operations
Disaggregation of Revenue [Line Items]
Revenue	1,967,789	2,890,053	4,131,482	5,802,441
International Foodservice Operations | Fresh and frozen meats
Disaggregation of Revenue [Line Items]
Revenue	267,817	409,483	581,989	821,638
International Foodservice Operations | Canned and dry products
Disaggregation of Revenue [Line Items]
Revenue	383,170	578,998	774,747	1,165,622
International Foodservice Operations | Frozen fruits, vegetables, bakery and other
Disaggregation of Revenue [Line Items]
Revenue	394,706	572,991	821,271	1,125,005
International Foodservice Operations | Poultry
Disaggregation of Revenue [Line Items]
Revenue	174,717	214,781	353,743	433,381
International Foodservice Operations | Dairy products
Disaggregation of Revenue [Line Items]
Revenue	208,208	299,830	441,164	612,008
International Foodservice Operations | Paper and disposables
Disaggregation of Revenue [Line Items]
Revenue	92,954	90,778	183,663	189,120
International Foodservice Operations | Fresh produce
Disaggregation of Revenue [Line Items]
Revenue	145,565	256,183	316,103	513,941
International Foodservice Operations | Seafood
Disaggregation of Revenue [Line Items]
Revenue	69,680	129,065	158,247	278,656
International Foodservice Operations | Beverage products
Disaggregation of Revenue [Line Items]
Revenue	73,422	130,766	150,888	263,618
International Foodservice Operations | Other
Disaggregation of Revenue [Line Items]
Revenue	157,550	207,178	349,667	399,452
SYGMA
Disaggregation of Revenue [Line Items]
Revenue	1,520,401	1,455,893	3,044,549	2,902,887
SYGMA | Fresh and frozen meats
Disaggregation of Revenue [Line Items]
Revenue	402,133	392,584	831,053	773,962
SYGMA | Canned and dry products
Disaggregation of Revenue [Line Items]
Revenue	32,867	38,652	62,440	75,842
SYGMA | Frozen fruits, vegetables, bakery and other
Disaggregation of Revenue [Line Items]
Revenue	275,422	266,540	532,209	520,995
SYGMA | Poultry
Disaggregation of Revenue [Line Items]
Revenue	217,621	200,481	434,255	404,749
SYGMA | Dairy products
Disaggregation of Revenue [Line Items]
Revenue	142,966	142,967	289,995	288,888
SYGMA | Paper and disposables
Disaggregation of Revenue [Line Items]
Revenue	182,094	166,313	361,268	334,748
SYGMA | Fresh produce
Disaggregation of Revenue [Line Items]
Revenue	66,528	59,318	131,510	120,252
SYGMA | Seafood
Disaggregation of Revenue [Line Items]
Revenue	26,387	23,383	51,483	48,238
SYGMA | Beverage products
Disaggregation of Revenue [Line Items]
Revenue	142,208	139,106	290,799	282,785
SYGMA | Other
Disaggregation of Revenue [Line Items]
Revenue	32,175	26,549	59,537	52,428
Other
Disaggregation of Revenue [Line Items]
Revenue	146,649	265,521	314,654	550,511
Other | Fresh and frozen meats
Disaggregation of Revenue [Line Items]
Revenue	0	0	0	0
Other | Canned and dry products
Disaggregation of Revenue [Line Items]
Revenue	0	0	0	0
Other | Frozen fruits, vegetables, bakery and other
Disaggregation of Revenue [Line Items]
Revenue	0	0	0	0
Other | Poultry
Disaggregation of Revenue [Line Items]
Revenue	0	0	0	0
Other | Dairy products
Disaggregation of Revenue [Line Items]
Revenue	0	0	0	0
Other | Paper and disposables
Disaggregation of Revenue [Line Items]
Revenue	8,675	15,290	20,313	32,663
Other | Fresh produce
Disaggregation of Revenue [Line Items]
Revenue	0	0	0	0
Other | Seafood
Disaggregation of Revenue [Line Items]
Revenue	0	0	0	0
Other | Beverage products
Disaggregation of Revenue [Line Items]
Revenue	10,728	20,912	21,938	45,240
Other | Other
Disaggregation of Revenue [Line Items]
Revenue	$ 127,246	$ 229,319	$ 272,403	$ 472,608

REVENUE - Narrative (Details)

REVENUE - Narrative (Details) - USD ($) $ in Millions	6 Months Ended
	Dec. 26, 2020	Jun. 27, 2020
Disaggregation of Revenue [Line Items]
Customer receivables included in accounts and notes receivable, net	$ 2,600	$ 2,700
Benefit on its provision for losses on receivables	94.2
Provision and other credit losses	34.7
Scenario, Adjustment
Disaggregation of Revenue [Line Items]
Provision and other credit losses	$ 128.9

REVENUE - Summary of the Activi

REVENUE - Summary of the Activity in the Allowance for Credit Losses (Details) - USD ($) $ in Thousands	6 Months Ended
	Dec. 26, 2020	Dec. 28, 2019
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	$ 334,810
Charged to costs and expenses	(94,242)	$ 38,418
Customer accounts written off, net of recoveries	22,675
Other adjustments	(8,896)
Balance at end of period	$ 254,347

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - Recurring Fair Value Measurements - USD ($) $ in Thousands	Dec. 26, 2020	Jun. 27, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 5,228,419	$ 5,545,687
Other assets	22,451	36,143
Total assets at fair value	5,250,870	5,581,830
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	4,738,442	5,245,487
Other assets	22,451	36,143
Total assets at fair value	4,760,893	5,281,630
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	489,977	300,200
Other assets	0	0
Total assets at fair value	489,977	300,200
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Other assets	0	0
Total assets at fair value	$ 0	$ 0

FAIR VALUE MEASUREMENTS - Narra

FAIR VALUE MEASUREMENTS - Narrative (Details) - USD ($) $ in Millions	Dec. 26, 2020	Jun. 27, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total debt	$ 16,500	$ 16,300
Carrying value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total debt	$ 13,800	$ 14,400

MARKETABLE SECURITIES (Details)

MARKETABLE SECURITIES (Details) - USD ($)	3 Months Ended	6 Months Ended
	Dec. 26, 2020	Dec. 26, 2020	Jun. 27, 2020
Marketable Securities [Line Items]
Amortized Cost Basis	$ 122,670,000	$ 122,670,000	$ 107,284,000
Gross Unrealized Gains	8,397,000	8,397,000	8,983,000
Gross Unrealized Losses	(68,000)	(68,000)	0
Fair Value	130,999,000	130,999,000	116,267,000
Realized gain (loss)	0	0
Short-Term Marketable Securities
Marketable Securities [Line Items]
Fair Value	17,777,000	17,777,000	18,233,000
Long-Term Marketable Securities
Marketable Securities [Line Items]
Fair Value	113,222,000	113,222,000	98,034,000
Corporate bonds
Marketable Securities [Line Items]
Amortized Cost Basis	89,476,000	89,476,000	78,651,000
Gross Unrealized Gains	3,664,000	3,664,000	4,064,000
Gross Unrealized Losses	(68,000)	(68,000)	0
Fair Value	93,072,000	93,072,000	82,715,000
Corporate bonds | Short-Term Marketable Securities
Marketable Securities [Line Items]
Fair Value	17,777,000	17,777,000	18,233,000
Corporate bonds | Long-Term Marketable Securities
Marketable Securities [Line Items]
Fair Value	75,295,000	75,295,000	64,482,000
Government bonds
Marketable Securities [Line Items]
Amortized Cost Basis	33,194,000	33,194,000	28,633,000
Gross Unrealized Gains	4,733,000	4,733,000	4,919,000
Gross Unrealized Losses	0	0	0
Fair Value	37,927,000	37,927,000	33,552,000
Government bonds | Short-Term Marketable Securities
Marketable Securities [Line Items]
Fair Value	0	0	0
Government bonds | Long-Term Marketable Securities
Marketable Securities [Line Items]
Fair Value	$ 37,927,000	$ 37,927,000	$ 33,552,000

MARKETABLE SECURITIES - ACTUAL

MARKETABLE SECURITIES - ACTUAL MATURITIES (Details) - USD ($) $ in Thousands	Dec. 26, 2020	Jun. 27, 2020
Investments, Debt and Equity Securities [Abstract]
Due in one year or less	$ 17,777
Due after one year through five years	60,399
Due after five years through ten years	52,823
Amortized Cost Basis	$ 130,999	$ 116,267

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS - Narrative (Details) £ in Millions, $ in Millions	Dec. 26, 2020	Sep. 26, 2020USD ($)	Sep. 26, 2020GBP (£)
Interest rate swaps
Derivative [Line Items]
Notional Value | $		$ 750
Cross-currency swaps
Derivative [Line Items]
Notional Value | £			£ 234
Senior Notes | 2.60% Senior Notes
Derivative [Line Items]
Interest rate	2.60%	2.60%	2.60%

DERIVATIVE FINANCIAL INSTRUME_4

DERIVATIVE FINANCIAL INSTRUMENTS - Hedging of Debt Portfolio (Details) - 6 months ended Dec. 26, 2020 € in Millions, kr in Millions, gal in Millions, $ in Millions	USD ($)gal	EUR (€)	SEK (kr)
Interest rate swap, July 2021
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Value | $	$ 500
Interest rate swap, June 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Value | €		€ 500
Interest rate swap, March 2025
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Value | $	$ 500
Foreign Currency Interest Rate, Various Maturity Dates
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Value | kr			kr 64
Hedging of foreign currency risk, Euro, June 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Value | €		€ 500
Fuel swaps
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount (in gallons) | gal	33

DERIVATIVE FINANCIAL INSTRUME_5

DERIVATIVE FINANCIAL INSTRUMENTS - Balance Sheet Disclosures (Details) - Hedging Instrument - USD ($) $ in Thousands	Dec. 26, 2020	Jun. 27, 2020
Fair Value Hedging | Interest rate swap agreements | Other current assets
Derivative [Line Items]
Fair value of derivative assets	$ 2,678	$ 1,388
Fair Value Hedging | Interest rate swap agreements | Other assets
Derivative [Line Items]
Fair value of derivative assets	58,053	69,782
Cash flow hedging | Fuel swaps | Other current assets
Derivative [Line Items]
Fair value of derivative assets	3,428	233
Cash flow hedging | Fuel swaps | Other assets
Derivative [Line Items]
Fair value of derivative assets	0	1,173
Cash flow hedging | Fuel swaps | Other current liabilities
Derivative [Line Items]
Fair value of derivative liabilities	6,973	28,242
Cash flow hedging | Foreign currency forwards | Other current assets
Derivative [Line Items]
Fair value of derivative assets	34	1,063
Cash flow hedging | Foreign currency forwards | Other current liabilities
Derivative [Line Items]
Fair value of derivative liabilities	163	222
Cash flow hedging | Cross-currency swaps | Other assets
Derivative [Line Items]
Fair value of derivative assets	$ 0	$ 19,614

DERIVATIVE FINANCIAL INSTRUME_6

DERIVATIVE FINANCIAL INSTRUMENTS - Location of Gain (Loss) on Derivatives (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 26, 2020	Dec. 28, 2019
Derivative [Line Items]
Interest expense	$ 146,498	$ 76,762	$ 293,215	$ 160,097
Interest expense	(9,735)	(14,560)	(24,568)	(29,117)
Increase (decrease) in fair value of debt	(5,942)	(9,210)	(10,777)	969
Hedging Instrument | Fair Value Hedging | Interest rate swaps | Interest expense
Derivative [Line Items]
Hedged items	(3,793)	(5,350)	(13,791)	(30,086)
Derivatives designated as hedging instruments	$ (296)	$ (9,248)	$ 3,161	$ (391)

DERIVATIVE FINANCIAL INSTRUME_7

DERIVATIVE FINANCIAL INSTRUMENTS - Cash Flow Hedges (Details) - Hedging Instrument - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 26, 2020	Dec. 28, 2019
Cash flow hedging
Derivative [Line Items]
Amount of Gain or (Loss) Recognized in Other Comprehensive Income on Derivatives - Cash Flow Hedging	$ 16,352	$ (19,313)	$ (489)	$ (6,662)
Amount of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income into Income - Cash Flow Hedging	(7,613)	411	(18,957)	(2,993)
Cash flow hedging | Fuel swaps
Derivative [Line Items]
Amount of Gain or (Loss) Recognized in Other Comprehensive Income on Derivatives - Cash Flow Hedging	16,939	10,345	19,830	10,689
Cash flow hedging | Fuel swaps | Operating expense
Derivative [Line Items]
Amount of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income into Income - Cash Flow Hedging	(7,613)	(3,213)	(16,265)	(6,619)
Cash flow hedging | Foreign currency contracts
Derivative [Line Items]
Amount of Gain or (Loss) Recognized in Other Comprehensive Income on Derivatives - Cash Flow Hedging	(587)	(29,658)	(20,319)	(17,351)
Cash flow hedging | Foreign currency contracts | Cost of sales / Other income
Derivative [Line Items]
Amount of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income into Income - Cash Flow Hedging	0	3,624	(2,692)	3,626
Net investment hedging
Derivative [Line Items]
Amount of Gain or (Loss) Recognized in Other Comprehensive Income on Derivatives - Net Investment Hedging	(27,554)	(46,289)	(47,953)	(3,987)
Amount of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income into Income - Net Investment Hedging	0	0	0	0
Net investment hedging | Foreign currency contracts
Derivative [Line Items]
Amount of Gain or (Loss) Recognized in Other Comprehensive Income on Derivatives - Net Investment Hedging		(34,639)	0	(13,787)
Amount of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income into Income - Net Investment Hedging		0	0	0
Net investment hedging | Foreign denominated debt
Derivative [Line Items]
Amount of Gain or (Loss) Recognized in Other Comprehensive Income on Derivatives - Net Investment Hedging	(27,554)	(11,650)	(47,953)	9,800
Amount of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income into Income - Net Investment Hedging	$ 0	$ 0	$ 0	$ 0

DERIVATIVE FINANCIAL INSTRUME_8

DERIVATIVE FINANCIAL INSTRUMENTS - Location of Hedged Liabilities (Details) - USD ($) $ in Thousands	Dec. 26, 2020	Jun. 27, 2020
Current maturities of long-term debt
Derivative [Line Items]
Carrying Amount of Hedged Assets (Liabilities)	$ (499,778)	$ (749,924)
Cumulative Amount of Fair Value Hedging Adjustments Included in the Carrying Amount of Hedged Assets (Liabilities)	(2,797)	(1,388)
Long-term debt
Derivative [Line Items]
Carrying Amount of Hedged Assets (Liabilities)	(1,064,694)	(1,563,636)
Cumulative Amount of Fair Value Hedging Adjustments Included in the Carrying Amount of Hedged Assets (Liabilities)	$ (58,053)	$ (70,239)

DEBT (Details)

DEBT (Details)	1 Months Ended	6 Months Ended
	Sep. 30, 2020USD ($)	Dec. 26, 2020USD ($)	Dec. 26, 2020GBP (£)	Sep. 26, 2020
Debt [Line Items]
Maximum board-authorized aggregate commercial paper limit		$ 2,000,000,000
Minimum
Debt [Line Items]
Commercial paper average outstanding		1,400,000,000
Maximum
Debt [Line Items]
Commercial paper average outstanding		1,500,000,000
Line of Credit | Revolving Credit Facility
Debt [Line Items]
Long-term revolving credit facility		2,000,000,000
Borrowings outstanding under revolving credit facility		700,000,000
Commercial paper
Debt [Line Items]
Carrying value of total debt		$ 0
Commercial paper | Commercial Paper, 0.454%
Debt [Line Items]
Long-term revolving credit facility | £			£ 600,000,000
Senior Notes | 2.60% Senior Notes
Debt [Line Items]
Repayments of senior notes	$ 750,000,000
Interest rate		2.60%	2.60%	2.60%

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 26, 2020	Dec. 28, 2019
Numerator:
Net earnings	$ 67,289	$ 383,410	$ 284,189	$ 837,191
Denominator:
Weighted-average basic shares outstanding (in shares)	510,006,754	509,984,743	509,567,080	511,721,290
Dilutive effect of share-based awards (in shares)	2,736,038	5,533,049	2,173,698	5,399,105
Weighted-average diluted shares outstanding (in shares)	512,742,792	515,517,792	511,740,778	517,120,395
Basic earnings per share (in dollars per share)	$ 0.13	$ 0.75	$ 0.56	$ 1.64
Diluted earnings per share (in dollars per share)	$ 0.13	$ 0.74	$ 0.56	$ 1.62

EARNINGS PER SHARE - Narrative

EARNINGS PER SHARE - Narrative (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 26, 2020	Dec. 28, 2019
Employee Stock Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded (in shares)	6,287	2,947	6,199	3,134

OTHER COMPREHENSIVE INCOME - Na

OTHER COMPREHENSIVE INCOME - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 26, 2020	Dec. 28, 2019
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Comprehensive income	$ 291,506,000	$ 492,511,000	$ 606,901,000	$ 870,591,000
Realized gain (loss)	$ 0		$ 0

OTHER COMPREHENSIVE INCOME - Co

OTHER COMPREHENSIVE INCOME - Components of OCI (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 26, 2020	Dec. 28, 2019
Before Tax Amount
Total other comprehensive loss	$ 224,694	$ 103,273	$ 313,404	$ 46,969
Tax
Total other comprehensive loss	477	(5,828)	(9,308)	13,569
Net of Tax Amount
Total other comprehensive income	224,217	109,101	322,712	33,400
Pension and other postretirement benefit plans: | Other expense, net
Before Tax Amount
Reclassification adjustments, before tax	10,570	11,535	21,106	22,382
Tax
Amortization of prior service cost	2,640	2,882	5,274	5,618
Net of Tax Amount
Amortization of prior service cost	7,930	8,653	15,832	16,764
Amortization of prior service cost
Net of Tax Amount
Amortization of prior service cost			274	2,856
Amortization of prior service cost | Other expense, net
Before Tax Amount
Reclassification adjustments, before tax	183	1,905	366	3,810
Tax
Amortization of prior service cost	46	477	92	954
Net of Tax Amount
Amortization of prior service cost	137	1,428	274	2,856
Amortization of actuarial loss (gain), net
Net of Tax Amount
Amortization of prior service cost			15,558	13,908
Amortization of actuarial loss (gain), net | Other expense, net
Before Tax Amount
Reclassification adjustments, before tax	10,387	9,630	20,740	18,572
Tax
Amortization of prior service cost	2,594	2,405	5,182	4,664
Net of Tax Amount
Amortization of prior service cost	7,793	7,225	15,558	13,908
Foreign currency translation:
Before Tax Amount
Other comprehensive income before reclassifications, before tax	222,507	154,955	335,647	28,796
Tax
Before reclassifications tax	0	0	0	0
Net of Tax Amount
Before reclassifications, net of tax	222,507	154,955	335,647	28,796
Change in marketable securities
Before Tax Amount
Other comprehensive income before reclassifications, before tax	(55)	(489)	(655)	692
Tax
Before reclassifications tax	(11)	(103)	(137)	145
Net of Tax Amount
Before reclassifications, net of tax	(44)	(386)	(518)	547
Hedging, net of tax
Before Tax Amount
Other comprehensive income before reclassifications, before tax	(11,202)	(65,602)	(48,442)	(10,649)
Tax
Before reclassifications tax	(2,871)	(9,326)	(15,883)	6,368
Net of Tax Amount
Before reclassifications, net of tax	(8,331)	(56,276)	(32,559)	(17,017)
Amortization of cash flow hedges
Net of Tax Amount
Before reclassifications, net of tax			(632)	(5,538)
Amortization of prior service cost			4,310	4,310
Amortization of cash flow hedges | Operating expenses
Before Tax Amount
Other comprehensive income before reclassifications, before tax	16,352	(19,313)	(489)	(6,662)
Tax
Before reclassifications tax	4,017	(4,516)	143	(1,124)
Net of Tax Amount
Before reclassifications, net of tax	12,335	(14,797)	(632)	(5,538)
Amortization of cash flow hedges | Interest expense
Before Tax Amount
Reclassification adjustments, before tax	2,874	2,874	5,748	5,748
Tax
Amortization of prior service cost	719	719	1,438	1,438
Net of Tax Amount
Amortization of prior service cost	2,155	2,155	4,310	4,310
Change in net investment hedge
Before Tax Amount
Other comprehensive income before reclassifications, before tax	(27,554)	(46,289)	(47,953)	(3,987)
Tax
Before reclassifications tax	(6,888)	(4,810)	(16,026)	7,492
Net of Tax Amount
Before reclassifications, net of tax	$ (20,666)	$ (41,479)	$ (31,927)	$ (11,479)

OTHER COMPREHENSIVE INCOME - Ch

OTHER COMPREHENSIVE INCOME - Changes in AOCI (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 26, 2020	Dec. 28, 2019
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance, shareholders' equity	$ 1,300,011	$ 2,454,748	$ 1,158,613	$ 2,502,603
Ending balance, shareholders' equity	1,426,799	2,527,526	1,426,799	2,527,526
Total
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance, shareholders' equity	(1,612,386)	(1,675,430)	(1,710,881)	(1,599,729)
Ending balance, shareholders' equity	(1,388,169)	(1,566,329)	(1,388,169)	(1,566,329)
Pension and Other Postretirement Benefit Plans, net of tax
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance, shareholders' equity			(1,265,714)	(1,217,617)
Ending balance, shareholders' equity	(1,249,882)	(1,200,853)	(1,249,882)	(1,200,853)
Amortization of prior service cost
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassification adjustment, net of tax			274	2,856
Amortization of unrecognized net actuarial losses
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassification adjustment, net of tax			15,558	13,908
Foreign Currency Translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance, shareholders' equity			(402,384)	(290,169)
OCI before reclassifications, net of tax	222,507	154,955	335,647	28,796
Ending balance, shareholders' equity	(66,737)	(261,373)	(66,737)	(261,373)
Hedging, net of tax
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance, shareholders' equity			(49,878)	(94,770)
OCI before reclassifications, net of tax	(8,331)	(56,276)	(32,559)	(17,017)
Ending balance, shareholders' equity	(78,127)	(107,477)	(78,127)	(107,477)
Amortization of cash flow hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
OCI before reclassifications, net of tax			(632)	(5,538)
Reclassification adjustment, net of tax			4,310	4,310
Change in net investment hedge
AOCI Attributable to Parent, Net of Tax [Roll Forward]
OCI before reclassifications, net of tax	(20,666)	(41,479)	(31,927)	(11,479)
Change in marketable securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance, shareholders' equity			7,095	2,827
OCI before reclassifications, net of tax	(44)	(386)	(518)	547
Ending balance, shareholders' equity	$ 6,577	$ 3,374	$ 6,577	$ 3,374

SHARE-BASED COMPENSATION - Stoc

SHARE-BASED COMPENSATION - Stock Incentive Plans (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Dec. 26, 2020	Dec. 28, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted (in shares)	1,943,368
Options granted, weighted average grant date fair value (in dollars per share)	$ 13.63
Share-based compensation expense	$ 47,122	$ 46,644
Total unrecognized compensation cost related to share-based compensation arrangements	$ 123,800
Weighted average period of time for unrecognized compensation cost to be recognized (in years)	1 year 10 months 28 days
Performance Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity instruments other than options granted (in shares)	794,659
Equity instruments other than options granted, weighted average grant date fair value per share (in dollars per share)	$ 58.71
Performance period	2 years
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity instruments other than options granted (in shares)	415,910
Equity instruments other than options granted, weighted average grant date fair value per share (in dollars per share)	$ 57.90
Employees' Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity instruments other than options granted (in shares)	452,013
Equity instruments other than options granted, weighted average grant date fair value per share (in dollars per share)	$ 3.41

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Dec. 26, 2020	Sep. 26, 2020	Dec. 28, 2019	Dec. 26, 2020	Dec. 28, 2019
Income Tax Disclosure [Abstract]
Effective income tax rate	17.05%		19.54%	16.38%	20.90%
Tax benefit attributable to the sale of stock		$ (7.6)
Impact of changes in tax law	$ 5.5			$ 5.5
Effective income tax expense (benefit) attributable to equity-based compensation	(4.3)		$ (11.8)	(6.6)	$ (27.5)
Unrecognized tax benefits	20.4			20.4
Liability recorded for interest and penalties related to unrecognized tax benefits	$ 2.4			$ 2.4

BUSINESS SEGMENT INFORMATION -

BUSINESS SEGMENT INFORMATION - Narrative (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 26, 2020USD ($)	Dec. 28, 2019USD ($)	Dec. 26, 2020USD ($)segment	Dec. 28, 2019USD ($)
Segment Reporting Information [Line Items]
Number of reporting segments | segment			3
Operating expenses	$ 1,886,396	$ 2,275,906	$ 3,686,662	$ 4,550,958
Revision of Prior Period, Reclassification, Adjustment
Segment Reporting Information [Line Items]
Operating expenses		$ 64,000		$ 131,800

BUSINESS SEGMENT INFORMATION (D

BUSINESS SEGMENT INFORMATION (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 26, 2020	Dec. 28, 2019
Segment Reporting Information [Line Items]
Sales	$ 11,558,982	$ 15,025,042	$ 23,336,361	$ 30,328,047
Operating income (loss):	212,062	552,493	631,641	1,220,811
Interest expense	146,498	76,762	293,215	160,097
Other (income) expense, net	(15,556)	(807)	(1,432)	2,305
Earnings before income taxes	81,120	476,538	339,858	1,058,409
US Foodservice Operations
Segment Reporting Information [Line Items]
Sales	7,924,143	10,413,575	15,845,676	21,072,208
International Foodservice Operations
Segment Reporting Information [Line Items]
Sales	1,967,789	2,890,053	4,131,482	5,802,441
SYGMA
Segment Reporting Information [Line Items]
Sales	1,520,401	1,455,893	3,044,549	2,902,887
Other
Segment Reporting Information [Line Items]
Sales	146,649	265,521	314,654	550,511
Operating Segments
Segment Reporting Information [Line Items]
Sales	11,558,982	15,025,042	23,336,361	30,328,047
Operating income (loss):	415,612	758,946	1,015,171	1,625,072
Operating Segments | US Foodservice Operations
Segment Reporting Information [Line Items]
Sales	7,924,143	10,413,575	15,845,676	21,072,208
Operating income (loss):	485,251	704,801	1,073,660	1,498,420
Operating Segments | International Foodservice Operations
Segment Reporting Information [Line Items]
Sales	1,967,789	2,890,053	4,131,482	5,802,441
Operating income (loss):	(79,949)	34,881	(80,486)	89,681
Operating Segments | SYGMA
Segment Reporting Information [Line Items]
Sales	1,520,401	1,455,893	3,044,549	2,902,887
Operating income (loss):	11,328	9,861	23,020	17,431
Operating Segments | Other
Segment Reporting Information [Line Items]
Sales	146,649	265,521	314,654	550,511
Operating income (loss):	(1,018)	9,403	(1,023)	19,540
Corporate
Segment Reporting Information [Line Items]
Operating income (loss):	$ (203,550)	$ (206,453)	$ (383,530)	$ (404,261)

Uncategorized Items - syy-20201

Label	Element	Value
Accounting Standards Update [Extensible List]	us-gaap_AccountingStandardsUpdateExtensibleList	us-gaap:AccountingStandardsUpdate201602Member