Sysco (SYY) 10-Q9 Feb 222022 Q2 Quarterly reportFinancial data

Company Profile

COVER PAGE

COVER PAGE - shares	6 Months Ended
COVER PAGE - shares	Jan. 02, 2022	Jan. 21, 2022
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jan. 1, 2022
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	77077-2099
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		507,447,464
Entity Central Index Key	0000096021
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Amendment Flag	false
Current Fiscal Year End Date	--07-02
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	Jan. 02, 2022	Jul. 03, 2021
Current assets
Cash and cash equivalents	$ 1,374,276	$ 3,007,123
Accounts receivable, less allowances of $128,189 and $117,695	4,219,868	3,781,510
Inventories	4,115,683	3,695,219
Prepaid expenses and other current assets	252,351	240,956
Income tax receivable	100,973	8,759
Total current assets	10,063,151	10,733,567
Plant and equipment at cost, less accumulated depreciation	4,307,156	4,326,063
Other long-term assets
Goodwill	4,416,912	3,944,139
Intangibles, less amortization	906,328	746,073
Deferred income taxes	387,050	352,523
Operating lease right-of-use assets, net	724,861	709,163
Other assets	621,304	602,011
Total other long-term assets	7,056,455	6,353,909
Total assets	21,426,762	21,413,539
Current liabilities
Notes payable	8,574	8,782
Accounts payable	5,019,052	4,884,781
Accrued expenses	1,980,293	1,814,837
Accrued income taxes	3,631	22,644
Current operating lease liabilities	94,603	102,659
Current maturities of long-term debt	487,407	486,141
Total current liabilities	7,593,560	7,319,844
Long-term liabilities
Long-term debt	10,593,390	10,588,184
Deferred income taxes	160,718	147,066
Long-term operating lease liabilities	659,136	634,481
Other long-term liabilities	1,166,196	1,136,480
Total long-term liabilities	12,579,440	12,506,211
Noncontrolling interest	32,690	34,588
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	1,690,487	1,619,995
Retained earnings	10,216,625	10,151,706
Accumulated other comprehensive loss	(1,236,258)	(1,148,764)
Treasury stock at cost, 258,033,856 and 253,342,595 shares	(10,214,957)	(9,835,216)
Total shareholders’ equity	1,221,072	1,552,896
Total liabilities and shareholders’ equity	$ 21,426,762	$ 21,413,539

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jan. 02, 2022	Jul. 03, 2021
Statement of Financial Position [Abstract]
Allowance for accounts receivable	$ 128,189	$ 117,695
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)	258,033,856	253,342,595

CONSOLIDATED RESULTS OF OPERATI

CONSOLIDATED RESULTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jan. 02, 2022	Dec. 26, 2020	Jan. 02, 2022	Dec. 26, 2020
Income Statement [Abstract]
Sales	$ 16,320,203	$ 11,558,982	$ 32,776,749	$ 23,336,361
Cost of sales	13,429,053	9,460,524	26,913,891	19,018,058
Gross profit	2,891,150	2,098,458	5,862,858	4,318,303
Operating expenses	2,446,241	1,886,396	4,786,267	3,686,662
Operating income	444,909	212,062	1,076,591	631,641
Interest expense	242,899	146,498	371,113	293,215
Other income, net	(10,676)	(15,556)	(13,928)	(1,432)
Earnings before income taxes	212,686	81,120	719,406	339,858
Income taxes	45,245	13,831	173,952	55,669
Net earnings	$ 167,441	$ 67,289	$ 545,454	$ 284,189
Net earnings:
Basic earnings per share (in dollars per share)	$ 0.33	$ 0.13	$ 1.07	$ 0.56
Diluted earnings per share (in dollars per share)	$ 0.33	$ 0.13	$ 1.06	$ 0.56
Average shares outstanding (in shares)	511,044,400	510,006,754	511,780,234	509,567,080
Diluted shares outstanding (in shares)	514,574,889	512,742,792	515,178,910	511,740,778

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jan. 02, 2022	Dec. 26, 2020	Jan. 02, 2022	Dec. 26, 2020
Statement of Comprehensive Income [Abstract]
Net earnings	$ 167,441	$ 67,289	$ 545,454	$ 284,189
Other comprehensive (loss) income:
Foreign currency translation adjustment	(26,870)	222,507	(114,064)	335,647
Items presented net of tax:
Amortization of cash flow hedges	2,155	2,155	4,310	4,310
Change in net investment hedges	8,362	(20,666)	18,527	(31,927)
Change in cash flow hedges	(6,101)	12,335	(6,530)	(632)
Amortization of prior service cost	74	137	148	274
Amortization of actuarial gain	5,488	7,793	11,855	15,558
Change in marketable securities	(1,429)	(44)	(1,740)	(518)
Total other comprehensive (loss) income	(18,321)	224,217	(87,494)	322,712
Comprehensive income	$ 149,120	$ 291,506	$ 457,960	$ 606,901

CHANGES IN CONSOLIDATED SHAREHO

CHANGES IN CONSOLIDATED SHAREHOLDERS’ EQUITY (Unaudited) - 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 (in shares) at Jun. 27, 2020			765,174,900					256,915,825
Beginning balance 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	(461,636)				(461,636)
Share-based compensation awards	124,989			58,354				$ 66,635
Share-based compensation awards (in shares)								(1,739,356)
Ending balance (in shares) at Dec. 26, 2020			765,174,900					255,176,469
Ending balance at Dec. 26, 2020	1,426,799		$ 765,175	1,565,255	10,383,493		(1,388,169)	$ (9,898,955)
Beginning balance (in shares) at Sep. 26, 2020			765,174,900					256,075,772
Beginning balance 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	(230,394)				(230,394)
Share-based compensation awards	65,676			30,974				$ 34,702
Share-based compensation awards (in shares)								(899,303)
Ending balance (in shares) at Dec. 26, 2020			765,174,900					255,176,469
Ending balance at Dec. 26, 2020	1,426,799		$ 765,175	1,565,255	10,383,493		(1,388,169)	$ (9,898,955)
Beginning balance (in shares) at Jul. 03, 2021			765,174,900					253,342,595
Beginning balance at Jul. 03, 2021	1,552,896		$ 765,175	1,619,995	10,151,706		(1,148,764)	$ (9,835,216)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	545,454				545,454
Foreign currency translation adjustment	(114,064)						(114,064)
Amortization of cash flow hedges, net of tax	4,310						4,310
Change in cash flow hedges, net of tax	(6,530)						(6,530)
Change in net investment hedges, net of tax	18,527						18,527
Reclassification of pension and other postretirement benefit plans amounts to net earnings, net of tax	12,003						12,003
Change in marketable securities, net of tax	(1,740)						(1,740)
Dividends declared	(480,535)				(480,535)
Treasury stock purchases (in shares)								5,679,298
Treasury stock purchases	(415,824)							$ (415,824)
Increase in ownership interest in subsidiaries	(304)			(304)
Share-based compensation awards	106,879			70,796				$ 36,083
Share-based compensation awards (in shares)								(988,037)
Ending balance (in shares) at Jan. 02, 2022			765,174,900					258,033,856
Ending balance at Jan. 02, 2022	1,221,072		$ 765,175	1,690,487	10,216,625		(1,236,258)	$ (10,214,957)
Beginning balance (in shares) at Oct. 02, 2021			765,174,900					252,825,080
Beginning balance at Oct. 02, 2021	1,673,292		$ 765,175	1,655,110	10,288,291		(1,217,937)	$ (9,817,347)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	167,441				167,441
Foreign currency translation adjustment	(26,870)						(26,870)
Amortization of cash flow hedges, net of tax	2,155						2,155
Change in cash flow hedges, net of tax	(6,101)						(6,101)
Change in net investment hedges, net of tax	8,362						8,362
Reclassification of pension and other postretirement benefit plans amounts to net earnings, net of tax	5,562						5,562
Change in marketable securities, net of tax	(1,429)						(1,429)
Dividends declared	(239,107)				(239,107)
Treasury stock purchases (in shares)								5,679,298
Treasury stock purchases	(415,824)							$ (415,824)
Increase in ownership interest in subsidiaries	(304)			(304)
Share-based compensation awards	53,895			35,681				$ 18,214
Share-based compensation awards (in shares)								(470,522)
Ending balance (in shares) at Jan. 02, 2022			765,174,900					258,033,856
Ending balance at Jan. 02, 2022	$ 1,221,072		$ 765,175	$ 1,690,487	$ 10,216,625		$ (1,236,258)	$ (10,214,957)

CHANGES IN CONSOLIDATED SHARE_2

CHANGES IN CONSOLIDATED SHAREHOLDERS’ EQUITY (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jan. 02, 2022	Dec. 26, 2020	Jan. 02, 2022	Dec. 26, 2020
Statement of Stockholders' Equity [Abstract]
Dividends declared per common share (in dollars per share)	$ 0.47	$ 0.45	$ 0.94	$ 0.90

CONSOLIDATED CASH FLOWS (Unaudi

CONSOLIDATED CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jan. 02, 2022	Dec. 26, 2020
Cash flows from operating activities:
Net earnings	$ 545,454	$ 284,189
Adjustments to reconcile net earnings to cash provided by operating activities:
Share-based compensation expense	60,254	47,122
Depreciation and amortization	377,763	365,332
Operating lease asset amortization	54,856	55,231
Amortization of debt issuance and other debt-related costs	11,014	12,946
Loss on extinguishment of debt	115,603	0
Deferred income taxes	(72,892)	(107,821)
Provision for losses on receivables	1,508	(94,242)
Loss on sale of business	0	12,043
Other non-cash items	1,103	(9,312)
Additional changes in certain assets and liabilities, net of effect of businesses acquired:
(Increase) decrease in receivables	(385,179)	192,121
(Increase) decrease in inventories	(357,908)	37,345
Increase in prepaid expenses and other current assets	(12,560)	(22,519)
Increase in accounts payable	83,214	84,708
Increase in accrued expenses	95,388	20,108
Decrease in operating lease liabilities	(65,123)	(63,496)
(Decrease) increase in accrued income taxes	(111,227)	63,385
(Increase) decrease in other assets	(4,255)	20,576
Increase in other long-term liabilities	40,034	38,962
Net cash provided by operating activities	377,047	936,678
Cash flows from investing activities:
Additions to plant and equipment	(181,374)	(163,944)
Proceeds from sales of plant and equipment	5,450	15,510
Acquisition of businesses, net of cash acquired	(769,658)	0
Purchase of marketable securities	(18,539)	(36,121)
Proceeds from sales of marketable securities	16,648	20,797
Other investing activities	6,651	0
Net cash used for investing activities	(940,822)	(163,758)
Cash flows from financing activities:
Bank and commercial paper borrowings, net	0	6,463
Other debt borrowings including senior notes	1,249,995	4,094
Other debt repayments	(23,050)	(773,663)
Redemption premiums and repayments of senior notes	(1,395,668)	0
Debt issuance costs	(15,547)	0
Cash received from termination of interest rate swap agreements	23,127	0
Proceeds from stock option exercises	36,083	66,635
Stock repurchases	(415,824)	0
Dividends paid	(481,386)	(458,717)
Other financing activities	(5,297)	(873)
Net cash used for financing activities	(1,027,567)	(1,156,061)
Effect of exchange rates on cash, cash equivalents and restricted cash	(10,868)	77,056
Net decrease in cash, cash equivalents and restricted cash	(1,602,210)	(306,085)
Cash, cash equivalents and restricted cash at beginning of period	3,037,100	6,095,570
Cash, cash equivalents and restricted cash at end of period	1,434,890	5,789,485
Cash paid during the period for:
Interest	258,436	290,926
Income taxes, net of refunds	$ 342,628	$ 110,453

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
BASIS OF PRESENTATION	Jan. 02, 2022
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 (loss), 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 (loss), 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 July 3, 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: Jan. 1, 2022 Dec. 26, 2020 (In thousands) Cash and cash equivalents $ 1,374,276 $ 5,767,034 Restricted cash (1) 60,614 22,451 Total cash, cash equivalents and restricted cash shown in the consolidated statement of cash flows $ 1,434,890 $ 5,789,485 (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.

NEW ACCOUNTING STANDARDS

NEW ACCOUNTING STANDARDS	6 Months Ended
NEW ACCOUNTING STANDARDS	Jan. 02, 2022
Accounting Policies [Abstract]
New Accounting Standards	NEW ACCOUNTING STANDARDS Government Assistance In November 2021, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2021-10, “Government Assistance (Topic 832),” which requires business entities to make annual disclosures about transactions with a government that are accounted for by analogizing to a grant or contribution accounting model. For transactions in the scope of the new standard, business entities will need to provide information about the nature of the transaction, including significant terms and conditions, as well as the amounts and specific financial statement line items affected by the transaction. The new guidance is effective for all entities for annual reporting periods beginning after December 15, 2021; however, early adoption is permitted. The guidance may be applied either prospectively to all in-scope transactions that are reflected in the financial statements at the date of initial application and to new transactions that are entered into after the date of initial application, or retrospectively. The company is currently reviewing the provisions of the new standard.

REVENUE

REVENUE	6 Months Ended
REVENUE	Jan. 02, 2022
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. Customer receivables, which are included in accounts receivable, less allowances in the consolidated balance sheet, were $3.8 billion and $3.5 billion as of January 1, 2022 and July 3, 2021, 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 January 1, 2022, 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 Jan. 1, 2022 US Foodservice Operations International Foodservice Operations SYGMA Other Total (In thousands) Principal Product Categories Fresh and frozen meats $ 2,403,763 $ 396,232 $ 513,138 $ — $ 3,313,133 Canned and dry products 2,087,808 560,623 155,615 30 2,804,076 Frozen fruits, vegetables, bakery and other 1,508,462 518,271 292,185 — 2,318,918 Poultry 1,351,188 240,755 223,348 — 1,815,291 Dairy products 1,114,145 289,380 139,735 — 1,543,260 Fresh produce 1,037,683 214,823 64,048 — 1,316,554 Paper and disposables 894,553 114,634 193,010 12,792 1,214,989 Seafood 585,713 110,337 33,980 — 730,030 Beverage products 246,365 107,156 131,517 18,827 503,865 Other (1) 268,475 254,061 24,747 212,804 760,087 Total Sales $ 11,498,155 $ 2,806,272 $ 1,771,323 $ 244,453 $ 16,320,203 (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. 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 subscription sales for our former Sysco Labs business, and other janitorial products, medical supplies and smallwares. 26-Week Period Ended Jan. 1, 2022 US Foodservice Operations International Foodservice Operations SYGMA Other Total (In thousands) Principal Product Categories Fresh and frozen meats $ 4,848,224 $ 813,403 $ 987,794 $ — $ 6,649,421 Canned and dry products 4,164,582 1,142,518 293,212 30 5,600,342 Frozen fruits, vegetables, bakery and other 3,009,755 1,036,526 565,332 — 4,611,613 Poultry 2,702,388 481,956 452,706 — 3,637,050 Dairy products 2,215,569 594,492 279,959 — 3,090,020 Fresh produce 2,024,685 433,786 130,611 — 2,589,082 Paper and disposables 1,805,903 234,374 381,253 28,291 2,449,821 Seafood 1,278,726 231,802 67,204 — 1,577,732 Beverage products 502,750 224,377 269,032 40,916 1,037,075 Other (1) 548,536 508,285 48,253 429,519 1,534,593 Total Sales $ 23,101,118 $ 5,701,519 $ 3,475,356 $ 498,756 $ 32,776,749 (1) Other sales relate to non-food products, including textiles and amenities for our hotel supply 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 former Sysco Labs business, and other janitorial products, medical supplies and smallwares.

ACQUISITIONS

ACQUISITIONS	6 Months Ended
ACQUISITIONS	Jan. 02, 2022
Business Combination and Asset Acquisition [Abstract]
ACQUISITIONS	ACQUISITIONS During the first 26 weeks of fiscal 2022, the company paid cash of $769.7 million for several acquisitions. Certain acquisitions involve contingent consideration that may include earnout agreements that are typically payable over periods of up to three years in the event that certain operating results are achieved. As of January 1, 2022, aggregate contingent consideration outstanding was $90.9 million, of which $88.3 million was recorded as earnout liabilities. Earnout liabilities are all measured using unobservable inputs that are considered a Level 3 measurement. Greco and Sons On August 12, 2021, Sysco consummated its acquisition of Greco and Sons (Greco), a leading independent Italian specialty distributor in the United States, operating out of 10 distribution centers and servicing 22 geographies nationwide. Greco imports and distributes a full line of food and non-food products and manufactures specialty meat products. The acquisition also includes Bellissimo Foods Company, which distributes a broad selection of Italian and Mediterranean ingredients, including a proprietary branded line of products that are sold exclusively through the Bellissimo Foods Company distribution network, serving independent pizza and Italian restaurants. The purpose of the acquisition is to strengthen Sysco’s business within the Italian foodservice sector. The assets, liabilities and operating results of Greco are reflected in the company’s consolidated financial statements in accordance with ASC Topic No. 805, Business Combinations, commencing from the acquisition date. In certain circumstances, the purchase price allocations may be based upon preliminary estimates and assumptions. Accordingly, the allocations are subject to revision until Sysco receives final information and other analysis during the measurement period. These include items such as finalizing valuation of acquired tangible and intangible assets and related tax attributes. The purchase price was allocated based on the company’s preliminary estimated fair value of the assets acquired and liabilities assumed, as follows: Preliminary Purchase Price Allocation (In millions) Accounts receivable, net $ 69 Inventories 79 Plant and equipment 24 Other assets 151 Goodwill and other intangibles (1) 717 Total assets 1,040 Accounts payable (73) Accrued expenses (17) Deferred tax liabilities (35) Other liabilities (154) Total consideration $ 761 (1) The excess purchase price of $717.1 million was assigned to goodwill and intangibles, a portion of which is deductible for income tax purposes. Goodwill of $491.6 million has been assigned to the U.S. Foodservice Operations reportable segment. Intangible assets include customer relationships of $116.0 million with a weighted average life of 8 years and trade names of $109.5 million with a weighted average life of 15 years. Amortization expense is being recognized on a straight-line basis and was $9.2 million for the first 26 weeks of fiscal 2022 The first 26 weeks of fiscal 2022 includes the results of operations of Greco for the period from August 12, 2021 to January 1, 2022. The results were not material to the consolidated results of the company for the first 26 weeks of fiscal 2022.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
FAIR VALUE MEASUREMENTS	Jan. 02, 2022
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTSSysco’s policy is to invest in only high-quality investments. The fair value of the company’s cash deposits and money market funds included in cash equivalents are valued using inputs that are considered a Level 1 measurement. Other cash equivalents, such as time deposits and highly liquid instruments with original maturities of three months or less, are valued using inputs that are considered a Level 2 measurement. 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 6, “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 7, “Derivative Financial Instruments.” The following tables present the company’s assets measured at fair value on a recurring basis as of January 1, 2022 and July 3, 2021: Assets Measured at Fair Value as of Jan. 1, 2022 Level 1 Level 2 Level 3 Total (In thousands) Assets: Cash equivalents Cash and cash equivalents $ 1,015,187 $ 300,003 $ — $ 1,315,190 Other assets (1) 60,614 — — 60,614 Total assets at fair value $ 1,075,801 $ 300,003 $ — $ 1,375,804 (1) Represents restricted cash balance recorded within other assets in the consolidated balance sheet. Assets Measured at Fair Value as of Jul. 3, 2021 Level 1 Level 2 Level 3 Total (In thousands) Assets: Cash equivalents Cash and cash equivalents $ 2,805,961 $ 3 $ — $ 2,805,964 Other assets (1) 29,977 — — 29,977 Total assets at fair value $ 2,835,938 $ 3 $ — $ 2,835,941 (1) Represents restricted cash balance recorded within other assets in the consolidated balance sheet.

MARKETABLE SECURITIES

MARKETABLE SECURITIES	6 Months Ended
MARKETABLE SECURITIES	Jan. 02, 2022
Investments, Debt and Equity Securities [Abstract]
MARKETABLE SECURITIES	MARKETABLE SECURITIES Sysco 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. 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 2022. The following table presents the company’s available-for-sale marketable securities as of January 1, 2022 and July 3, 2021: Jan. 1, 2022 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 $ 95,077 $ 1,588 $ (1,123) $ 95,542 $ — $ 95,542 Government bonds 30,213 2,950 (24) 33,139 — 33,139 Total marketable securities $ 125,290 $ 4,538 $ (1,147) $ 128,681 $ — $ 128,681 Jul. 3, 2021 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 $ 92,547 $ 2,491 $ (456) $ 94,582 $ 11,570 $ 83,012 Government bonds 31,552 3,556 — 35,108 — 35,108 Total marketable securities $ 124,099 $ 6,047 $ (456) $ 129,690 $ 11,570 $ 118,120 As of January 1, 2022, 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. Jan. 1, 2022 (In thousands) Due in one year or less $ — Due after one year through five years 88,084 Due after five years through ten years 40,597 Total $ 128,681 There were no significant realized gains or losses in marketable securities in the first 26 weeks of fiscal 2022.

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	6 Months Ended
DERIVATIVE FINANCIAL INSTRUMENTS	Jan. 02, 2022
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 second quarter of fiscal 2022, Sysco settled some of its previously held interest rate swap contracts for proceeds of $23.1 million, which had a notional value of $500 million, due to the redemption of the entire $500 million aggregate principal amount of Sysco’s outstanding 3.550% Senior Notes due 2025 in December 2021. Hedging of foreign currency risk The company 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 January 1, 2022 are presented below: Maturity Date of the Hedging Instrument Currency / Unit of Measure Notional Value (In millions) Hedging of interest rate risk June 2023 Euro 500 Hedging of foreign currency risk Various (January 2022 to April 2022) Swedish Krona 245 Various (January 2022 to June 2022) British Pound Sterling 20 June 2023 Euro 500 Hedging of fuel risk Various (January 2022 to June 2022) Gallons 22 The location and the fair value of derivative instruments designated as hedges in the consolidated balance sheet as of January 1, 2022 and July 3, 2021 are as follows: Derivative Fair Value Balance Sheet location Jan. 1, 2022 Jul. 3, 2021 (In thousands) Fair Value Hedges: Interest rate swaps Other assets $ 3,970 $ 43,217 Cash Flow Hedges: Fuel swaps Other current assets $ 8,766 $ 16,732 Foreign currency forwards Other current assets 183 42 Fuel swaps Other current liabilities 102 — Foreign currency forwards Other current liabilities 473 46 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 Jan. 1, 2022 Dec. 26, 2020 Jan. 1, 2022 Dec. 26, 2020 (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 $ 242,899 $ 146,498 $ 371,113 $ 293,215 Gain or (loss) on fair value hedging relationships: Interest rate swaps: Hedged items $ 29,787 $ (3,793) $ 27,355 $ (13,791) Derivatives designated as hedging instruments (39,473) (296) (47,862) 3,161 The gains and losses on the fair value hedging relationships associated with the hedged items as disclosed in the table above consist of the following components for each of the periods presented: 13-Week Period Ended 26-Week Period Ended Jan. 1, 2022 Dec. 26, 2020 Jan. 1, 2022 Dec. 26, 2020 (In thousands) Interest expense $ (5,367) $ (9,735) $ (11,892) $ (24,568) Decrease in fair value of debt (35,154) (5,942) (39,247) (10,777) Hedged items $ 29,787 $ (3,793) $ 27,355 $ (13,791) 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 January 1, 2022 and December 26, 2020, presented on a pretax basis, are as follows: 13-Week Period Ended Jan. 1, 2022 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 $ (7,588) Operating expense $ 9,608 Foreign currency contracts (356) Cost of sales / Other income — Total $ (7,944) $ 9,608 Derivatives in net investment hedging relationships: Foreign denominated debt $ 11,149 N/A $ — Total $ 11,149 $ — 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) $ — 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 January 1, 2022 and December 26, 2020, presented on a pretax basis, are as follows: 26-Week Period Ended Jan. 1, 2022 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 $ (8,073) Operating expense $ 17,580 Foreign currency contracts (434) Cost of sales / Other income — Total $ (8,507) $ 17,580 Derivatives in net investment hedging relationships: Foreign denominated debt $ 24,702 N/A $ — Total $ 24,702 $ — 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 denominated debt $ (47,953) N/A $ — Total $ (47,953) $ — The location and carrying amount of hedged liabilities in the consolidated balance sheet as of January 1, 2022 are as follows: Jan. 1, 2022 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: Long-term debt $ (568,272) $ (3,970) The location and carrying amount of hedged liabilities in the consolidated balance sheet as of July 3, 2021 are as follows: Jul. 3, 2021 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: Long-term debt $ (1,065,364) $ (43,217)

DEBT

DEBT	6 Months Ended
DEBT	Jan. 02, 2022
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 January 1, 2022, there were no borrowings outstanding under this facility. During the first quarter of fiscal 2022, Sysco amended its revolving credit facility to (a) eliminate the covenant that had restricted (i) increases to the company’s regular quarterly dividend and (ii) share repurchases, in each case, until the earlier of September 2022 or the date on which Sysco has achieved a certain ratio of consolidated EBITDA to consolidated interest expense, and (b) adjust the covenant requiring Sysco to maintain a certain ratio of consolidated EBITDA to consolidated interest expense. 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. Any outstanding amounts are classified within long-term debt, as the program is supported by the long-term revolving credit facility. As of January 1, 2022, there were no commercial paper issuances outstanding under this program. During the first 26 weeks of fiscal 2022, there were no borrowing activities under our commercial paper programs, long-term revolving credit facility or short-term bank notes. On December 14, 2021, Sysco issued senior notes (the “Notes”) totaling $1.25 billion. Details of the Notes are as follows: Maturity Date Par Value Coupon Rate Pricing December 14, 2031 (the 2031 Notes) $ 450 2.45 % 99.578 % December 14, 2051 (the 2051 Notes) 800 3.15 99.308 The Notes initially are fully and unconditionally guaranteed by Sysco’s direct and indirect wholly owned subsidiaries that guarantee Sysco’s other senior notes issued under the indenture governing the Notes or any of Sysco’s other indebtedness. Interest on the Notes will be paid semi-annually in arrears on June 14 and December 14, beginning June 14, 2022. At Sysco’s option, any or all of the Notes may be redeemed, in whole or in part, at any time prior to maturity. If Sysco elects to redeem (i) the 2031 Notes before the date that is three months prior to the maturity date, or (ii) the 2051 Notes before the date that is six months prior to the maturity date, Sysco will pay an amount equal to the greater of 100% of the principal amount of the Notes to be redeemed or the sum of the present values of the remaining scheduled payments of principal and interest on the Notes to be redeemed that would be due if such senior notes matured on the applicable date described above. If Sysco elects to redeem a series of Notes on or after the applicable date described in the preceding sentence, Sysco will pay an amount equal to 100% of the principal amount of the Notes to be redeemed. Sysco will pay accrued and unpaid interest on the Notes redeemed to the redemption date. On December 14, 2021, Sysco redeemed $1.25 billion in combined aggregate principal amount of its 5.650% Senior Notes due 2025 (the “5.650% Notes”) and 3.550% Senior Notes due 2025 (the “3.550% Notes”). Sysco used the net proceeds from the offering of the Notes, together with cash on hand, to fund the redemption of all of Sysco’s outstanding 5.650% Notes and 3.550% Notes. The redemption price for the senior notes of each such series that were redeemed was the principal amount of such senior notes plus a “make-whole” amount determined in accordance with the indenture governing such senior notes and accrued and unpaid interest to the applicable redemption date. The redemption was considered to be a debt extinguishment. As such, Sysco recognized a loss on extinguishment of debt of $115.6 million , which is recorded as a component of interest expense in the accompanying consolidated results of operations. Of this loss, $132.7 million was attributable to the purchase premium paid to the noteholders, and $6.0 million was attributable to the write-off of unamortized debt issuance costs and debt discount associated with the redeemed notes, offset by a gain of $23.1 million attributable to the termination of interest rate swap agreements that were serving as a fair value hedge.

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
EARNINGS PER SHARE	Jan. 02, 2022
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 Jan. 1, 2022 Dec. 26, 2020 Jan. 1, 2022 Dec. 26, 2020 (In thousands, except for share (In thousands, except for share Numerator: Net earnings $ 167,441 $ 67,289 $ 545,454 $ 284,189 Denominator: Weighted-average basic shares outstanding 511,044,400 510,006,754 511,780,234 509,567,080 Dilutive effect of share-based awards 3,530,489 2,736,038 3,398,676 2,173,698 Weighted-average diluted shares outstanding 514,574,889 512,742,792 515,178,910 511,740,778 Basic earnings per share $ 0.33 $ 0.13 $ 1.07 $ 0.56 Diluted earnings per share $ 0.33 $ 0.13 $ 1.06 $ 0.56

OTHER COMPREHENSIVE INCOME

OTHER COMPREHENSIVE INCOME	6 Months Ended
OTHER COMPREHENSIVE INCOME	Jan. 02, 2022
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 $149.1 million and $291.5 million for the second quarter of fiscal 2022 and fiscal 2021, respectively. Comprehensive income was $458.0 million and $606.9 million for the first 26 weeks of fiscal 2022 and fiscal 2021, 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 Jan. 1, 2022 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 $ 99 $ 25 $ 74 Amortization of actuarial loss, net Other expense, net 7,401 1,913 5,488 Total reclassification adjustments 7,500 1,938 5,562 Foreign currency translation: Foreign currency translation adjustment N/A (26,870) — (26,870) Marketable securities: Change in marketable securities (1) N/A (1,808) (379) (1,429) Hedging instruments: Other comprehensive income (loss) before reclassification adjustments: Change in cash flow hedge Operating expenses (2) (7,944) (1,843) (6,101) Change in net investment hedge N/A 11,149 2,787 8,362 Total other comprehensive income before reclassification adjustments 3,205 944 2,261 Reclassification adjustments: Amortization of cash flow hedges Interest expense 2,874 719 2,155 Total other comprehensive loss $ (15,099) $ 3,222 $ (18,321) (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 2022. (2) Amount partially impacts operating expense for fuel swaps accounted for as cash flow hedges. 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 hedges 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 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 2021 . (2) Amount partially impacts operating expense for fuel swaps accounted for as cash flow hedges. 26-Week Period Ended Jan. 1, 2022 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 $ 198 $ 50 $ 148 Amortization of actuarial loss, net Other expense, net 15,887 4,032 11,855 Total reclassification adjustments 16,085 4,082 12,003 Foreign currency translation: Other comprehensive income (loss) before reclassification adjustments: Foreign currency translation adjustment N/A (114,064) — (114,064) Marketable securities: Change in marketable securities (1) N/A (2,201) (461) (1,740) Hedging instruments: Other comprehensive income (loss) before reclassification adjustments: Change in cash flow hedges Operating expenses (2) (8,507) (1,977) (6,530) Change in net investment hedges N/A 24,702 6,175 18,527 Total other comprehensive income before reclassification adjustments 16,195 4,198 11,997 Reclassification adjustments: Amortization of cash flow hedges Interest expense 5,748 1,438 4,310 Total other comprehensive income (loss) $ (78,237) $ 9,257 $ (87,494) (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 2022 . (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: 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 hedge (3) Operating expenses (2) (489) 143 (632) Change in net investment hedges 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 (loss) income $ 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. The following tables provide a summary of the changes in accumulated other comprehensive (loss) income f or the periods presented: 26-Week Period Ended Jan. 1, 2022 Pension and Other Postretirement Benefit Plans, Foreign Currency Translation Hedging, Marketable Securities, Total (In thousands) Balance as of Jul. 3, 2021 $ (1,061,991) $ (40,092) $ (51,096) $ 4,415 $ (1,148,764) Equity adjustment from foreign currency translation — (114,064) — — (114,064) Amortization of cash flow hedges — — 4,310 — 4,310 Change in net investment hedges — — 18,527 — 18,527 Change in cash flow hedge — — (6,530) — (6,530) Amortization of unrecognized prior service cost 148 — — — 148 Amortization of unrecognized net actuarial losses 11,855 — — — 11,855 Change in marketable securities — — — (1,740) (1,740) Balance as of Jan. 1, 2022 $ (1,049,988) $ (154,156) $ (34,789) $ 2,675 $ (1,236,258) 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 Jun. 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)

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	6 Months Ended
SHARE-BASED COMPENSATION	Jan. 02, 2022
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 2022, options to purchase 1,224,150 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 2022 was $17.39. In the first 26 weeks of fiscal 2022, employees were granted 470,720 performance share units (PSUs). 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 2022 was $76.75. The PSUs will convert into shares of Sysco common stock at the end of the three-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 2022, employees were granted 201,922 restricted stock units. The weighted average grant-date fair value per restricted stock unit granted during the first 26 weeks of fiscal 2022 was $76.49. Employee Stock Purchase Plan Plan participants purchased 465,814 shares of common stock under the ESPP during the first 26 weeks of fiscal 2022. The weighted average fair value per employee stock purchase right issued pursuant to the ESPP was $11.78 during the first 26 weeks of fiscal 2022. 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 $60.3 million and $47.1 million for the first 26 weeks of fiscal 2022 and fiscal 2021, respectively. As of January 1, 2022, there was $133.6 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 1.86 years.

INCOME TAXES

INCOME TAXES	6 Months Ended
INCOME TAXES	Jan. 02, 2022
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 2022 were 21.27% and 24.18%, respectively. As compared to the company’s statutory tax rate, the higher effective tax rate for the second quarter and first 26 weeks of fiscal 2022 was impacted by the increase in our reserve for uncertain tax positions of $12.0 million in the first quarter, partially offset by (1) the favorable impact of excess tax benefits of equity-based compensation that totaled $1.4 million and $2.9 million, respectively, and (2) the impact of corporate-owned life insurance policies that totaled an unfavorable $1.0 million in the second quarter and a favorable $1.0 million in the first 26 weeks of fiscal 2022 . T he 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 United Kingdom (U.K.) of $5.5 million in the first quarter. Uncertain Tax Positions As of January 1, 2022, the gross amount of unrecognized tax benefit and related accrued interest was $32.4 million and $4.6 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
COMMITMENTS AND CONTINGENCIES	Jan. 02, 2022
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
BUSINESS SEGMENT INFORMATION	Jan. 02, 2022
Segment Reporting [Abstract]
BUSINESS SEGMENT INFORMATION	BUSINESS SEGMENT INFORMATION Sysco distributes food and related products to restaurants, healthcare and educational facilities, lodging establishments and other foodservice customers. Our primary operations are located in North America and Europe. Under the accounting provisions related to disclosures about segments of an enterprise, we have aggregated certain operating segments into three reportable segments. “Other” financial information is attributable to our 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 Italian, specialty imports and a wide variety of non-food products; • International Foodservice Operations – includes operations in the Americas (primarily outside of the U.S. 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 our operations that distribute to international customers. Our European operations primarily consist of operations in the U.K., France, Ireland and Sweden; • SYGMA – our U.S. customized distribution operations serving quick-service chain restaurant customer locations; and • Other – primarily our hotel supply operations, Guest Worldwide. The accounting policies for the segments are the same as those disclosed by Sysco for its consolidated financial statements. Our Global Support Center generally includes all expenses of the corporate office and Sysco’s shared service operations. These also include all U.S. share-based compensation costs. The following tables set forth certain financial information for Sysco’s reportable business segments: 13-Week Period Ended 26-Week Period Ended Jan. 1, 2022 Dec. 26, 2020 Jan. 1, 2022 Dec. 26, 2020 Sales: (In thousands) (In thousands) U.S. Foodservice Operations $ 11,498,155 $ 7,924,143 $ 23,101,118 $ 15,845,676 International Foodservice Operations 2,806,272 1,967,789 5,701,519 4,131,482 SYGMA 1,771,323 1,520,401 3,475,356 3,044,549 Other 244,453 146,649 498,756 314,654 Total $ 16,320,203 $ 11,558,982 $ 32,776,749 $ 23,336,361 13-Week Period Ended 26-Week Period Ended Jan. 1, 2022 Dec. 26, 2020 Jan. 1, 2022 Dec. 26, 2020 Operating income (loss): (In thousands) (In thousands) U.S. Foodservice Operations $ 676,822 $ 485,251 $ 1,474,345 $ 1,073,660 International Foodservice Operations 10,745 (79,949) 47,421 (80,486) SYGMA (6,729) 11,328 (9,176) 23,020 Other 183 (1,018) 6,639 (1,023) Total segments 681,021 415,612 1,519,229 1,015,171 Global Support Center (236,112) (203,550) (442,638) (383,530) Total operating income 444,909 212,062 1,076,591 631,641 Interest expense 242,899 146,498 371,113 293,215 Other (income) expense, net (10,676) (15,556) (13,928) (1,432) Earnings before income taxes $ 212,686 $ 81,120 $ 719,406 $ 339,858

NEW ACCOUNTING STANDARDS (Polic

NEW ACCOUNTING STANDARDS (Policies)	6 Months Ended
NEW ACCOUNTING STANDARDS (Policies)	Jan. 02, 2022
Accounting Policies [Abstract]
Government Assistance	Government Assistance In November 2021, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2021-10, “Government Assistance (Topic 832),” which requires business entities to make annual disclosures about transactions with a government that are accounted for by analogizing to a grant or contribution accounting model. For transactions in the scope of the new standard, business entities will need to provide information about the nature of the transaction, including significant terms and conditions, as well as the amounts and specific financial statement line items affected by the transaction. The new guidance is effective for all entities for annual reporting periods beginning after December 15, 2021; however, early adoption is permitted. The guidance may be applied either prospectively to all in-scope transactions that are reflected in the financial statements at the date of initial application and to new transactions that are entered into after the date of initial application, or retrospectively. The company is currently reviewing the provisions of the new standard.
Fair Value Measurements	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 6, “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 7, “Derivative Financial Instruments.”

BASIS OF PRESENTATION (Tables)

BASIS OF PRESENTATION (Tables)	6 Months Ended
BASIS OF PRESENTATION (Tables)	Jan. 02, 2022
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: Jan. 1, 2022 Dec. 26, 2020 (In thousands) Cash and cash equivalents $ 1,374,276 $ 5,767,034 Restricted cash (1) 60,614 22,451 Total cash, cash equivalents and restricted cash shown in the consolidated statement of cash flows $ 1,434,890 $ 5,789,485 (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.
Schedule of 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: Jan. 1, 2022 Dec. 26, 2020 (In thousands) Cash and cash equivalents $ 1,374,276 $ 5,767,034 Restricted cash (1) 60,614 22,451 Total cash, cash equivalents and restricted cash shown in the consolidated statement of cash flows $ 1,434,890 $ 5,789,485 (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
REVENUE (Tables)	Jan. 02, 2022
Revenue from Contract with Customer [Abstract]
Schedule of 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 Jan. 1, 2022 US Foodservice Operations International Foodservice Operations SYGMA Other Total (In thousands) Principal Product Categories Fresh and frozen meats $ 2,403,763 $ 396,232 $ 513,138 $ — $ 3,313,133 Canned and dry products 2,087,808 560,623 155,615 30 2,804,076 Frozen fruits, vegetables, bakery and other 1,508,462 518,271 292,185 — 2,318,918 Poultry 1,351,188 240,755 223,348 — 1,815,291 Dairy products 1,114,145 289,380 139,735 — 1,543,260 Fresh produce 1,037,683 214,823 64,048 — 1,316,554 Paper and disposables 894,553 114,634 193,010 12,792 1,214,989 Seafood 585,713 110,337 33,980 — 730,030 Beverage products 246,365 107,156 131,517 18,827 503,865 Other (1) 268,475 254,061 24,747 212,804 760,087 Total Sales $ 11,498,155 $ 2,806,272 $ 1,771,323 $ 244,453 $ 16,320,203 (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. 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 subscription sales for our former Sysco Labs business, and other janitorial products, medical supplies and smallwares. 26-Week Period Ended Jan. 1, 2022 US Foodservice Operations International Foodservice Operations SYGMA Other Total (In thousands) Principal Product Categories Fresh and frozen meats $ 4,848,224 $ 813,403 $ 987,794 $ — $ 6,649,421 Canned and dry products 4,164,582 1,142,518 293,212 30 5,600,342 Frozen fruits, vegetables, bakery and other 3,009,755 1,036,526 565,332 — 4,611,613 Poultry 2,702,388 481,956 452,706 — 3,637,050 Dairy products 2,215,569 594,492 279,959 — 3,090,020 Fresh produce 2,024,685 433,786 130,611 — 2,589,082 Paper and disposables 1,805,903 234,374 381,253 28,291 2,449,821 Seafood 1,278,726 231,802 67,204 — 1,577,732 Beverage products 502,750 224,377 269,032 40,916 1,037,075 Other (1) 548,536 508,285 48,253 429,519 1,534,593 Total Sales $ 23,101,118 $ 5,701,519 $ 3,475,356 $ 498,756 $ 32,776,749 (1) Other sales relate to non-food products, including textiles and amenities for our hotel supply 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 former Sysco Labs business, and other janitorial products, medical supplies and smallwares.

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	6 Months Ended
ACQUISITIONS (Tables)	Jan. 02, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The purchase price was allocated based on the company’s preliminary estimated fair value of the assets acquired and liabilities assumed, as follows: Preliminary Purchase Price Allocation (In millions) Accounts receivable, net $ 69 Inventories 79 Plant and equipment 24 Other assets 151 Goodwill and other intangibles (1) 717 Total assets 1,040 Accounts payable (73) Accrued expenses (17) Deferred tax liabilities (35) Other liabilities (154) Total consideration $ 761

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
FAIR VALUE MEASUREMENTS (Tables)	Jan. 02, 2022
Fair Value Disclosures [Abstract]
Schedule of 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 January 1, 2022 and July 3, 2021: Assets Measured at Fair Value as of Jan. 1, 2022 Level 1 Level 2 Level 3 Total (In thousands) Assets: Cash equivalents Cash and cash equivalents $ 1,015,187 $ 300,003 $ — $ 1,315,190 Other assets (1) 60,614 — — 60,614 Total assets at fair value $ 1,075,801 $ 300,003 $ — $ 1,375,804 (1) Represents restricted cash balance recorded within other assets in the consolidated balance sheet. Assets Measured at Fair Value as of Jul. 3, 2021 Level 1 Level 2 Level 3 Total (In thousands) Assets: Cash equivalents Cash and cash equivalents $ 2,805,961 $ 3 $ — $ 2,805,964 Other assets (1) 29,977 — — 29,977 Total assets at fair value $ 2,835,938 $ 3 $ — $ 2,835,941 (1) Represents restricted cash balance recorded within other assets in the consolidated balance sheet.

MARKETABLE SECURITIES (Tables)

MARKETABLE SECURITIES (Tables)	6 Months Ended
MARKETABLE SECURITIES (Tables)	Jan. 02, 2022
Investments, Debt and Equity Securities [Abstract]
Schedule of Available-For-Sale Marketable Securities	The following table presents the company’s available-for-sale marketable securities as of January 1, 2022 and July 3, 2021: Jan. 1, 2022 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 $ 95,077 $ 1,588 $ (1,123) $ 95,542 $ — $ 95,542 Government bonds 30,213 2,950 (24) 33,139 — 33,139 Total marketable securities $ 125,290 $ 4,538 $ (1,147) $ 128,681 $ — $ 128,681 Jul. 3, 2021 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 $ 92,547 $ 2,491 $ (456) $ 94,582 $ 11,570 $ 83,012 Government bonds 31,552 3,556 — 35,108 — 35,108 Total marketable securities $ 124,099 $ 6,047 $ (456) $ 129,690 $ 11,570 $ 118,120
Schedule of Available-For-Sale Debt Securities Held To Actual Maturity	As of January 1, 2022, 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. Jan. 1, 2022 (In thousands) Due in one year or less $ — Due after one year through five years 88,084 Due after five years through ten years 40,597 Total $ 128,681

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	Jan. 02, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of Outstanding Swap Agreements	Details of outstanding hedging instruments as of January 1, 2022 are presented below: Maturity Date of the Hedging Instrument Currency / Unit of Measure Notional Value (In millions) Hedging of interest rate risk June 2023 Euro 500 Hedging of foreign currency risk Various (January 2022 to April 2022) Swedish Krona 245 Various (January 2022 to June 2022) British Pound Sterling 20 June 2023 Euro 500 Hedging of fuel risk Various (January 2022 to June 2022) Gallons 22 26-Week Period Ended Jan. 1, 2022 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 $ (8,073) Operating expense $ 17,580 Foreign currency contracts (434) Cost of sales / Other income — Total $ (8,507) $ 17,580 Derivatives in net investment hedging relationships: Foreign denominated debt $ 24,702 N/A $ — Total $ 24,702 $ — 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 denominated debt $ (47,953) N/A $ — Total $ (47,953) $ —
Schedule of Derivatives Balance Sheet Location Table	The location and the fair value of derivative instruments designated as hedges in the consolidated balance sheet as of January 1, 2022 and July 3, 2021 are as follows: Derivative Fair Value Balance Sheet location Jan. 1, 2022 Jul. 3, 2021 (In thousands) Fair Value Hedges: Interest rate swaps Other assets $ 3,970 $ 43,217 Cash Flow Hedges: Fuel swaps Other current assets $ 8,766 $ 16,732 Foreign currency forwards Other current assets 183 42 Fuel swaps Other current liabilities 102 — Foreign currency forwards Other current liabilities 473 46 The location and carrying amount of hedged liabilities in the consolidated balance sheet as of January 1, 2022 are as follows: Jan. 1, 2022 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: Long-term debt $ (568,272) $ (3,970) The location and carrying amount of hedged liabilities in the consolidated balance sheet as of July 3, 2021 are as follows: Jul. 3, 2021 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: Long-term debt $ (1,065,364) $ (43,217)
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 Jan. 1, 2022 Dec. 26, 2020 Jan. 1, 2022 Dec. 26, 2020 (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 $ 242,899 $ 146,498 $ 371,113 $ 293,215 Gain or (loss) on fair value hedging relationships: Interest rate swaps: Hedged items $ 29,787 $ (3,793) $ 27,355 $ (13,791) Derivatives designated as hedging instruments (39,473) (296) (47,862) 3,161 The gains and losses on the fair value hedging relationships associated with the hedged items as disclosed in the table above consist of the following components for each of the periods presented: 13-Week Period Ended 26-Week Period Ended Jan. 1, 2022 Dec. 26, 2020 Jan. 1, 2022 Dec. 26, 2020 (In thousands) Interest expense $ (5,367) $ (9,735) $ (11,892) $ (24,568) Decrease in fair value of debt (35,154) (5,942) (39,247) (10,777) Hedged items $ 29,787 $ (3,793) $ 27,355 $ (13,791) 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 January 1, 2022 and December 26, 2020, presented on a pretax basis, are as follows: 13-Week Period Ended Jan. 1, 2022 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 $ (7,588) Operating expense $ 9,608 Foreign currency contracts (356) Cost of sales / Other income — Total $ (7,944) $ 9,608 Derivatives in net investment hedging relationships: Foreign denominated debt $ 11,149 N/A $ — Total $ 11,149 $ — 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) $ —

DEBT (Tables)

DEBT (Tables)	6 Months Ended
DEBT (Tables)	Jan. 02, 2022
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	On December 14, 2021, Sysco issued senior notes (the “Notes”) totaling $1.25 billion. Details of the Notes are as follows: Maturity Date Par Value Coupon Rate Pricing December 14, 2031 (the 2031 Notes) $ 450 2.45 % 99.578 % December 14, 2051 (the 2051 Notes) 800 3.15 99.308

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
EARNINGS PER SHARE (Tables)	Jan. 02, 2022
Earnings Per Share, Basic [Abstract]
Schedule of 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 Jan. 1, 2022 Dec. 26, 2020 Jan. 1, 2022 Dec. 26, 2020 (In thousands, except for share (In thousands, except for share Numerator: Net earnings $ 167,441 $ 67,289 $ 545,454 $ 284,189 Denominator: Weighted-average basic shares outstanding 511,044,400 510,006,754 511,780,234 509,567,080 Dilutive effect of share-based awards 3,530,489 2,736,038 3,398,676 2,173,698 Weighted-average diluted shares outstanding 514,574,889 512,742,792 515,178,910 511,740,778 Basic earnings per share $ 0.33 $ 0.13 $ 1.07 $ 0.56 Diluted earnings per share $ 0.33 $ 0.13 $ 1.06 $ 0.56

OTHER COMPREHENSIVE INCOME (Tab

OTHER COMPREHENSIVE INCOME (Tables)	6 Months Ended
OTHER COMPREHENSIVE INCOME (Tables)	Jan. 02, 2022
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 Jan. 1, 2022 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 $ 99 $ 25 $ 74 Amortization of actuarial loss, net Other expense, net 7,401 1,913 5,488 Total reclassification adjustments 7,500 1,938 5,562 Foreign currency translation: Foreign currency translation adjustment N/A (26,870) — (26,870) Marketable securities: Change in marketable securities (1) N/A (1,808) (379) (1,429) Hedging instruments: Other comprehensive income (loss) before reclassification adjustments: Change in cash flow hedge Operating expenses (2) (7,944) (1,843) (6,101) Change in net investment hedge N/A 11,149 2,787 8,362 Total other comprehensive income before reclassification adjustments 3,205 944 2,261 Reclassification adjustments: Amortization of cash flow hedges Interest expense 2,874 719 2,155 Total other comprehensive loss $ (15,099) $ 3,222 $ (18,321) (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 2022. (2) Amount partially impacts operating expense for fuel swaps accounted for as cash flow hedges. 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 hedges 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 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 2021 . (2) Amount partially impacts operating expense for fuel swaps accounted for as cash flow hedges. 26-Week Period Ended Jan. 1, 2022 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 $ 198 $ 50 $ 148 Amortization of actuarial loss, net Other expense, net 15,887 4,032 11,855 Total reclassification adjustments 16,085 4,082 12,003 Foreign currency translation: Other comprehensive income (loss) before reclassification adjustments: Foreign currency translation adjustment N/A (114,064) — (114,064) Marketable securities: Change in marketable securities (1) N/A (2,201) (461) (1,740) Hedging instruments: Other comprehensive income (loss) before reclassification adjustments: Change in cash flow hedges Operating expenses (2) (8,507) (1,977) (6,530) Change in net investment hedges N/A 24,702 6,175 18,527 Total other comprehensive income before reclassification adjustments 16,195 4,198 11,997 Reclassification adjustments: Amortization of cash flow hedges Interest expense 5,748 1,438 4,310 Total other comprehensive income (loss) $ (78,237) $ 9,257 $ (87,494) (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 2022 . (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: 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 hedge (3) Operating expenses (2) (489) 143 (632) Change in net investment hedges 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 (loss) income $ 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.
Schedule of Rollforward of Accumulated Other Comprehensive (Loss) Income	The following tables provide a summary of the changes in accumulated other comprehensive (loss) income f or the periods presented: 26-Week Period Ended Jan. 1, 2022 Pension and Other Postretirement Benefit Plans, Foreign Currency Translation Hedging, Marketable Securities, Total (In thousands) Balance as of Jul. 3, 2021 $ (1,061,991) $ (40,092) $ (51,096) $ 4,415 $ (1,148,764) Equity adjustment from foreign currency translation — (114,064) — — (114,064) Amortization of cash flow hedges — — 4,310 — 4,310 Change in net investment hedges — — 18,527 — 18,527 Change in cash flow hedge — — (6,530) — (6,530) Amortization of unrecognized prior service cost 148 — — — 148 Amortization of unrecognized net actuarial losses 11,855 — — — 11,855 Change in marketable securities — — — (1,740) (1,740) Balance as of Jan. 1, 2022 $ (1,049,988) $ (154,156) $ (34,789) $ 2,675 $ (1,236,258) 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 Jun. 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)

BUSINESS SEGMENT INFORMATION (T

BUSINESS SEGMENT INFORMATION (Tables)	6 Months Ended
BUSINESS SEGMENT INFORMATION (Tables)	Jan. 02, 2022
Segment Reporting [Abstract]
Schedule of 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 Jan. 1, 2022 Dec. 26, 2020 Jan. 1, 2022 Dec. 26, 2020 Sales: (In thousands) (In thousands) U.S. Foodservice Operations $ 11,498,155 $ 7,924,143 $ 23,101,118 $ 15,845,676 International Foodservice Operations 2,806,272 1,967,789 5,701,519 4,131,482 SYGMA 1,771,323 1,520,401 3,475,356 3,044,549 Other 244,453 146,649 498,756 314,654 Total $ 16,320,203 $ 11,558,982 $ 32,776,749 $ 23,336,361 13-Week Period Ended 26-Week Period Ended Jan. 1, 2022 Dec. 26, 2020 Jan. 1, 2022 Dec. 26, 2020 Operating income (loss): (In thousands) (In thousands) U.S. Foodservice Operations $ 676,822 $ 485,251 $ 1,474,345 $ 1,073,660 International Foodservice Operations 10,745 (79,949) 47,421 (80,486) SYGMA (6,729) 11,328 (9,176) 23,020 Other 183 (1,018) 6,639 (1,023) Total segments 681,021 415,612 1,519,229 1,015,171 Global Support Center (236,112) (203,550) (442,638) (383,530) Total operating income 444,909 212,062 1,076,591 631,641 Interest expense 242,899 146,498 371,113 293,215 Other (income) expense, net (10,676) (15,556) (13,928) (1,432) Earnings before income taxes $ 212,686 $ 81,120 $ 719,406 $ 339,858

BASIS OF PRESENTATION (Details)

BASIS OF PRESENTATION (Details) - USD ($) $ in Thousands	Jan. 02, 2022	Jul. 03, 2021	Dec. 26, 2020	Jun. 27, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and cash equivalents	$ 1,374,276	$ 3,007,123	$ 5,767,034
Restricted cash	60,614		22,451
Total cash, cash equivalents and restricted cash shown in the consolidated statement of cash flows	$ 1,434,890	$ 3,037,100	$ 5,789,485	$ 6,095,570

REVENUE - Narrative (Details)

REVENUE - Narrative (Details) - USD ($) $ in Billions	Jan. 02, 2022	Jul. 03, 2021
Revenue from Contract with Customer [Abstract]
Customer receivables included in accounts and notes receivable, net	$ 3.8	$ 3.5

REVENUE - Disaggregation of Rev

REVENUE - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jan. 02, 2022	Dec. 26, 2020	Jan. 02, 2022	Dec. 26, 2020
Disaggregation of Revenue [Line Items]
Revenue	$ 16,320,203	$ 11,558,982	$ 32,776,749	$ 23,336,361
Fresh and frozen meats
Disaggregation of Revenue [Line Items]
Revenue	3,313,133	2,170,014	6,649,421	4,410,911
Canned and dry products
Disaggregation of Revenue [Line Items]
Revenue	2,804,076	1,822,090	5,600,342	3,649,385
Frozen fruits, vegetables, bakery and other
Disaggregation of Revenue [Line Items]
Revenue	2,318,918	1,740,355	4,611,613	3,480,956
Poultry
Disaggregation of Revenue [Line Items]
Revenue	1,815,291	1,236,715	3,637,050	2,467,254
Dairy products
Disaggregation of Revenue [Line Items]
Revenue	1,543,260	1,169,984	3,090,020	2,386,234
Fresh produce
Disaggregation of Revenue [Line Items]
Revenue	1,316,554	908,972	2,589,082	1,855,412
Paper and disposables
Disaggregation of Revenue [Line Items]
Revenue	1,214,989	999,498	2,449,821	1,961,844
Seafood
Disaggregation of Revenue [Line Items]
Revenue	730,030	504,022	1,577,732	1,100,382
Beverage products
Disaggregation of Revenue [Line Items]
Revenue	503,865	395,260	1,037,075	812,544
Other
Disaggregation of Revenue [Line Items]
Revenue	760,087	612,072	1,534,593	1,211,439
US Foodservice Operations
Disaggregation of Revenue [Line Items]
Revenue	11,498,155	7,924,143	23,101,118	15,845,676
US Foodservice Operations \| Fresh and frozen meats
Disaggregation of Revenue [Line Items]
Revenue	2,403,763	1,500,064	4,848,224	2,997,869
US Foodservice Operations \| Canned and dry products
Disaggregation of Revenue [Line Items]
Revenue	2,087,808	1,406,053	4,164,582	2,812,198
US Foodservice Operations \| Frozen fruits, vegetables, bakery and other
Disaggregation of Revenue [Line Items]
Revenue	1,508,462	1,070,227	3,009,755	2,127,476
US Foodservice Operations \| Poultry
Disaggregation of Revenue [Line Items]
Revenue	1,351,188	844,377	2,702,388	1,679,256
US Foodservice Operations \| Dairy products
Disaggregation of Revenue [Line Items]
Revenue	1,114,145	818,810	2,215,569	1,655,075
US Foodservice Operations \| Fresh produce
Disaggregation of Revenue [Line Items]
Revenue	1,037,683	696,879	2,024,685	1,407,799
US Foodservice Operations \| Paper and disposables
Disaggregation of Revenue [Line Items]
Revenue	894,553	715,775	1,805,903	1,396,600
US Foodservice Operations \| Seafood
Disaggregation of Revenue [Line Items]
Revenue	585,713	407,955	1,278,726	890,652
US Foodservice Operations \| Beverage products
Disaggregation of Revenue [Line Items]
Revenue	246,365	168,902	502,750	348,919
US Foodservice Operations \| Other
Disaggregation of Revenue [Line Items]
Revenue	268,475	295,101	548,536	529,832
International Foodservice Operations
Disaggregation of Revenue [Line Items]
Revenue	2,806,272	1,967,789	5,701,519	4,131,482
International Foodservice Operations \| Fresh and frozen meats
Disaggregation of Revenue [Line Items]
Revenue	396,232	267,817	813,403	581,989
International Foodservice Operations \| Canned and dry products
Disaggregation of Revenue [Line Items]
Revenue	560,623	383,170	1,142,518	774,747
International Foodservice Operations \| Frozen fruits, vegetables, bakery and other
Disaggregation of Revenue [Line Items]
Revenue	518,271	394,706	1,036,526	821,271
International Foodservice Operations \| Poultry
Disaggregation of Revenue [Line Items]
Revenue	240,755	174,717	481,956	353,743
International Foodservice Operations \| Dairy products
Disaggregation of Revenue [Line Items]
Revenue	289,380	208,208	594,492	441,164
International Foodservice Operations \| Fresh produce
Disaggregation of Revenue [Line Items]
Revenue	214,823	145,565	433,786	316,103
International Foodservice Operations \| Paper and disposables
Disaggregation of Revenue [Line Items]
Revenue	114,634	92,954	234,374	183,663
International Foodservice Operations \| Seafood
Disaggregation of Revenue [Line Items]
Revenue	110,337	69,680	231,802	158,247
International Foodservice Operations \| Beverage products
Disaggregation of Revenue [Line Items]
Revenue	107,156	73,422	224,377	150,888
International Foodservice Operations \| Other
Disaggregation of Revenue [Line Items]
Revenue	254,061	157,550	508,285	349,667
SYGMA
Disaggregation of Revenue [Line Items]
Revenue	1,771,323	1,520,401	3,475,356	3,044,549
SYGMA \| Fresh and frozen meats
Disaggregation of Revenue [Line Items]
Revenue	513,138	402,133	987,794	831,053
SYGMA \| Canned and dry products
Disaggregation of Revenue [Line Items]
Revenue	155,615	32,867	293,212	62,440
SYGMA \| Frozen fruits, vegetables, bakery and other
Disaggregation of Revenue [Line Items]
Revenue	292,185	275,422	565,332	532,209
SYGMA \| Poultry
Disaggregation of Revenue [Line Items]
Revenue	223,348	217,621	452,706	434,255
SYGMA \| Dairy products
Disaggregation of Revenue [Line Items]
Revenue	139,735	142,966	279,959	289,995
SYGMA \| Fresh produce
Disaggregation of Revenue [Line Items]
Revenue	64,048	66,528	130,611	131,510
SYGMA \| Paper and disposables
Disaggregation of Revenue [Line Items]
Revenue	193,010	182,094	381,253	361,268
SYGMA \| Seafood
Disaggregation of Revenue [Line Items]
Revenue	33,980	26,387	67,204	51,483
SYGMA \| Beverage products
Disaggregation of Revenue [Line Items]
Revenue	131,517	142,208	269,032	290,799
SYGMA \| Other
Disaggregation of Revenue [Line Items]
Revenue	24,747	32,175	48,253	59,537
Other
Disaggregation of Revenue [Line Items]
Revenue	244,453	146,649	498,756	314,654
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	30	0	30	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 \| Fresh produce
Disaggregation of Revenue [Line Items]
Revenue	0	0	0	0
Other \| Paper and disposables
Disaggregation of Revenue [Line Items]
Revenue	12,792	8,675	28,291	20,313
Other \| Seafood
Disaggregation of Revenue [Line Items]
Revenue	0	0	0	0
Other \| Beverage products
Disaggregation of Revenue [Line Items]
Revenue	18,827	10,728	40,916	21,938
Other \| Other
Disaggregation of Revenue [Line Items]
Revenue	$ 212,804	$ 127,246	$ 429,519	$ 272,403

ACQUISITIONS - Narrative (Detai

ACQUISITIONS - Narrative (Details) $ in Thousands	6 Months Ended
ACQUISITIONS - Narrative (Details) $ in Thousands	Jan. 02, 2022USD ($)	Dec. 26, 2020USD ($)	Aug. 12, 2021centerarea
Business Acquisition [Line Items]
Payments to acquire businesses, net of cash acquired	$ 769,658	$ 0
Payable term for contingent consideration	3 years
Contingent consideration outstanding	$ 90,900
Greco
Business Acquisition [Line Items]
Number of distribution centers \| center			10
Number of geographic areas \| area			22
Earnout Liabilities
Business Acquisition [Line Items]
Contingent consideration outstanding	$ 88,300

ACQUISITIONS - Recognized Ident

ACQUISITIONS - Recognized Identified Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Aug. 12, 2021	Jan. 02, 2022	Jul. 03, 2021
Business Acquisition [Line Items]
Goodwill		$ 4,416,912	$ 3,944,139
Greco
Business Acquisition [Line Items]
Accounts receivable, net	$ 69,000
Inventories	79,000
Plant and equipment	24,000
Other assets	151,000
Goodwill	717,000
Total assets	1,040,000
Accounts payable	(73,000)
Accrued expenses	(17,000)
Deferred tax liabilities	(35,000)
Other liabilities	(154,000)
Total consideration	761,000
Goodwill	717,100
Amortization expense		$ 9,200
Greco \| Customer Relationships
Business Acquisition [Line Items]
Intangible assets, finite-lived	$ 116,000
Acquired finite-lived Intangible assets, weighted average useful life	8 years
Greco \| Trade Names
Business Acquisition [Line Items]
Intangible assets, finite-lived	$ 109,500
Acquired finite-lived Intangible assets, weighted average useful life	15 years
Greco \| US Foodservice Operations
Business Acquisition [Line Items]
Goodwill	$ 491,600

FAIR VALUE MEASUREMENTS - Asset

FAIR VALUE MEASUREMENTS - Assets and Liabilities Measured at Fair Value Table (Details) - Recurring Fair Value Measurements - USD ($) $ in Thousands	Jan. 02, 2022	Jul. 03, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 1,315,190	$ 2,805,964
Other assets	60,614	29,977
Total assets at fair value	1,375,804	2,835,941
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	1,015,187	2,805,961
Other assets	60,614	29,977
Total assets at fair value	1,075,801	2,835,938
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	300,003	3
Other assets	0	0
Total assets at fair value	300,003	3
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 Billions	Jan. 02, 2022	Jul. 03, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total debt	$ 13	$ 13.3
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total debt	$ 11.1	$ 11.1

MARKETABLE SECURITIES - Availab

MARKETABLE SECURITIES - Available-For-Sale Marketable Securities (Details) - USD ($) $ in Thousands	Jan. 02, 2022	Jul. 03, 2021
Marketable Securities [Line Items]
Amortized Cost Basis	$ 125,290	$ 124,099
Gross Unrealized Gains	4,538	6,047
Gross Unrealized Losses	(1,147)	(456)
Fair Value	128,681	129,690
Short-Term Marketable Securities
Marketable Securities [Line Items]
Fair Value	0	11,570
Long-Term Marketable Securities
Marketable Securities [Line Items]
Fair Value	128,681	118,120
Corporate bonds
Marketable Securities [Line Items]
Amortized Cost Basis	95,077	92,547
Gross Unrealized Gains	1,588	2,491
Gross Unrealized Losses	(1,123)	(456)
Fair Value	95,542	94,582
Corporate bonds \| Short-Term Marketable Securities
Marketable Securities [Line Items]
Fair Value	0	11,570
Corporate bonds \| Long-Term Marketable Securities
Marketable Securities [Line Items]
Fair Value	95,542	83,012
Government bonds
Marketable Securities [Line Items]
Amortized Cost Basis	30,213	31,552
Gross Unrealized Gains	2,950	3,556
Gross Unrealized Losses	(24)	0
Fair Value	33,139	35,108
Government bonds \| Short-Term Marketable Securities
Marketable Securities [Line Items]
Fair Value	0	0
Government bonds \| Long-Term Marketable Securities
Marketable Securities [Line Items]
Fair Value	$ 33,139	$ 35,108

MARKETABLE SECURITIES - Avail_2

MARKETABLE SECURITIES - Available-For-Sale Debt Securities Held To Actual Maturity (Details) - USD ($) $ in Thousands	Jan. 02, 2022	Jul. 03, 2021
Investments, Debt and Equity Securities [Abstract]
Due in one year or less	$ 0
Due after one year through five years	88,084
Due after five years through ten years	40,597
Amortized Cost Basis	$ 128,681	$ 129,690

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS - Narrative (Details)	Jan. 02, 2022USD ($)
Senior Notes, 3.55% Due 2025 \| Senior Notes
Derivative [Line Items]
Interest rate	3.55%
5.650% Senior Note Due 2025 \| Senior Notes
Derivative [Line Items]
Interest rate	5.65%
3.550% Senior Note Due 2025 \| Senior Notes
Derivative [Line Items]
Interest rate	3.55%
Senior Notes, 5.65% Due 2021
Derivative [Line Items]
Derivative, Notional Amount	$ 23,100,000
Senior Notes, 3.55% Due 2021
Derivative [Line Items]
Derivative, Notional Amount	500,000,000
Senior Notes, 3.55% Due 2025
Derivative [Line Items]
Derivative, Notional Amount	$ 500,000,000

DERIVATIVE FINANCIAL INSTRUME_4

DERIVATIVE FINANCIAL INSTRUMENTS - Outstanding Swap Agreements (Details) - 6 months ended Jan. 02, 2022	EUR (€)gal	SEK (kr)	GBP (£)
Hedging of interest rate risk, June 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional value	€ 500,000,000
Hedging of foreign currency risk Various (January 2022 to April 2022)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional value		kr 245,000,000	£ 20,000,000
Hedging of foreign currency risk euro , June 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional value	€ 500,000,000
Fuel swaps
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount (in gallons) \| gal	22,000,000

DERIVATIVE FINANCIAL INSTRUME_5

DERIVATIVE FINANCIAL INSTRUMENTS - Derivatives Balance Sheet Location Table (Details) - Hedging Instrument - USD ($) $ in Thousands	Jan. 02, 2022	Jul. 03, 2021
Fair Value Hedges \| Interest rate swap agreements \| Other assets
Derivative [Line Items]
Fair value of derivative assets	$ 3,970	$ 43,217
Cash Flow Hedges \| Fuel swaps \| Other current assets
Derivative [Line Items]
Fair value of derivative assets	8,766	16,732
Cash Flow Hedges \| Fuel swaps \| Other current liabilities
Derivative [Line Items]
Fair value of derivative liabilities	102	0
Cash Flow Hedges \| Foreign currency forwards \| Other current assets
Derivative [Line Items]
Fair value of derivative assets	183	42
Cash Flow Hedges \| Foreign currency forwards \| Other current liabilities
Derivative [Line Items]
Fair value of derivative liabilities	$ 473	$ 46

DERIVATIVE FINANCIAL INSTRUME_6

DERIVATIVE FINANCIAL INSTRUMENTS - Location and Effect of Derivative Instruments and Related Hedged Items (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jan. 02, 2022	Dec. 26, 2020	Jan. 02, 2022	Dec. 26, 2020
Derivative [Line Items]
Interest expense	$ 242,899	$ 146,498	$ 371,113	$ 293,215
Interest expense	(5,367)	(9,735)	(11,892)	(24,568)
Decrease in fair value of debt	(35,154)	(5,942)	(39,247)	(10,777)
Hedging Instrument \| Fair Value Hedges \| Interest rate swaps \| Interest expense
Derivative [Line Items]
Hedged items	29,787	(3,793)	27,355	(13,791)
Derivatives designated as hedging instruments	$ (39,473)	$ (296)	$ (47,862)	$ 3,161

DERIVATIVE FINANCIAL INSTRUME_7

DERIVATIVE FINANCIAL INSTRUMENTS - Cash Flow Hedges (Details) - Hedging Instrument - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jan. 02, 2022	Dec. 26, 2020	Jan. 02, 2022	Dec. 26, 2020
Cash Flow Hedges
Derivative [Line Items]
Amount of gain or (loss) recognized in other comprehensive income on derivatives - cash flow hedging	$ (7,944)	$ 16,352	$ (8,507)	$ (489)
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income - cash flow hedging	9,608	(7,613)	17,580	(18,957)
Cash Flow Hedges \| Fuel swaps
Derivative [Line Items]
Amount of gain or (loss) recognized in other comprehensive income on derivatives - cash flow hedging	(7,588)	16,939	(8,073)	19,830
Cash Flow Hedges \| Fuel swaps \| Operating expense
Derivative [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income - cash flow hedging	9,608	(7,613)	17,580	(16,265)
Cash Flow Hedges \| Foreign currency contracts
Derivative [Line Items]
Amount of gain or (loss) recognized in other comprehensive income on derivatives - cash flow hedging	(356)	(587)	(434)	(20,319)
Cash Flow Hedges \| 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	0	0	(2,692)
Net Investment Hedging
Derivative [Line Items]
Amount of gain or (loss) recognized in other comprehensive income on derivatives - net investment hedging	11,149	(27,554)	24,702	(47,953)
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income - net investment hedging	0	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	11,149	(27,554)	24,702	(47,953)
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) - Long-term debt - USD ($) $ in Thousands	Jan. 02, 2022	Jul. 03, 2021
Derivative [Line Items]
Carrying Amount of Hedged Assets (Liabilities)	$ (568,272)	$ (1,065,364)
Cumulative Amount of Fair Value Hedging Adjustments Included in the Carrying Amount of Hedged Assets (Liabilities)	$ (3,970)	$ (43,217)

DEBT - Narrative (Details)

DEBT - Narrative (Details) - USD ($)	Dec. 14, 2021	Jan. 02, 2022	Dec. 26, 2020
Debt [Line Items]
Maximum board-authorized aggregate commercial paper limit		$ 2,000,000,000
Commercial paper average outstanding		0
Loss on extinguishment of debt		115,603,000	$ 0
Line of Credit \| Revolving Credit Facility
Debt [Line Items]
Long-term revolving credit facility		2,000,000,000
Borrowings outstanding under revolving credit facility		0
Commercial Paper
Debt [Line Items]
Carrying value of total debt		$ 0
Senior Notes
Debt [Line Items]
Principal amount of notes	$ 1,250,000,000
Redemption of senior notes	1,250,000,000
Loss on redemption of debt	132,700,000
Write off of Deferred Debt Issuance Cost	6,000,000
Loss on extinguishment of debt, portion attributable to accelerated charge on debt discount	23,100,000
Senior Notes \| Interest expense
Debt [Line Items]
Loss on extinguishment of debt	115,600,000
Senior Notes \| Senior Notes Due 2031
Debt [Line Items]
Principal amount of notes	$ 450,000,000
Period prior to maturity for early redemption	3 months
Interest rate	2.45%
Senior Notes \| Senior Notes Due 2051
Debt [Line Items]
Principal amount of notes	$ 800,000,000
Period prior to maturity for early redemption	6 months
Percent of principal due upon early repayment	100.00%
Interest rate	3.15%
Senior Notes \| 5.650% Senior Note Due 2025
Debt [Line Items]
Interest rate		5.65%
Senior Notes \| 3.550% Senior Note Due 2025
Debt [Line Items]
Interest rate		3.55%

DEBT - Senior Notes (Details)

DEBT - Senior Notes (Details) - Senior Notes	Dec. 14, 2021USD ($)
Debt [Line Items]
Principal amount of notes	$ 1,250,000,000
Senior Notes Due 2031
Debt [Line Items]
Principal amount of notes	$ 450,000,000
Interest rate	2.45%
Debt Instrument Issuance Percentage of Par	99.578%
Senior Notes Due 2051
Debt [Line Items]
Principal amount of notes	$ 800,000,000
Interest rate	3.15%
Debt Instrument Issuance Percentage of Par	99.308%

EARNINGS PER SHARE - Computatio

EARNINGS PER SHARE - Computation of Basic and Diluted Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jan. 02, 2022	Dec. 26, 2020	Jan. 02, 2022	Dec. 26, 2020
Numerator:
Net earnings	$ 167,441	$ 67,289	$ 545,454	$ 284,189
Denominator:
Weighted-average basic shares outstanding (in shares)	511,044,400	510,006,754	511,780,234	509,567,080
Dilutive effect of share-based awards (in shares)	3,530,489	2,736,038	3,398,676	2,173,698
Weighted-average diluted shares outstanding (in shares)	514,574,889	512,742,792	515,178,910	511,740,778
Basic earnings per share (in dollars per share)	$ 0.33	$ 0.13	$ 1.07	$ 0.56
Diluted earnings per share (in dollars per share)	$ 0.33	$ 0.13	$ 1.06	$ 0.56

EARNINGS PER SHARE - Narrative

EARNINGS PER SHARE - Narrative (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jan. 02, 2022	Dec. 26, 2020	Jan. 02, 2022	Dec. 26, 2020
Employee Stock Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded (in shares)	2,124	6,287	2,044	6,199

OTHER COMPREHENSIVE INCOME - Na

OTHER COMPREHENSIVE INCOME - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
OTHER COMPREHENSIVE INCOME - Narrative (Details) - USD ($)	Jan. 02, 2022	Dec. 26, 2020	Jan. 02, 2022	Dec. 26, 2020
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Comprehensive income	$ 149,120,000	$ 291,506,000	$ 457,960,000	$ 606,901,000
Realized gain (loss)		$ 0

OTHER COMPREHENSIVE INCOME - Co

OTHER COMPREHENSIVE INCOME - Components of Other Comprehensive (Loss) Income and Related Tax Effects (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jan. 02, 2022	Dec. 26, 2020	Jan. 02, 2022	Dec. 26, 2020
Before Tax Amount
Total other comprehensive loss	$ (15,099)	$ 224,694	$ (78,237)	$ 313,404
Tax
Total other comprehensive loss	3,222	477	9,257	(9,308)
Net of Tax Amount
Total other comprehensive (loss) income	(18,321)	224,217	(87,494)	322,712
Pension and other postretirement benefit plans: \| Other expense, net
Before Tax Amount
Reclassification adjustments, before tax	7,500	10,570	16,085	21,106
Tax
Amortization of prior service cost	1,938	2,640	4,082	5,274
Net of Tax Amount
Amortization of prior service cost	5,562	7,930	12,003	15,832
Amortization of prior service cost
Net of Tax Amount
Amortization of prior service cost			148	274
Amortization of prior service cost \| Other expense, net
Before Tax Amount
Reclassification adjustments, before tax	99	183	198	366
Tax
Amortization of prior service cost	25	46	50	92
Net of Tax Amount
Amortization of prior service cost	74	137	148	274
Amortization of actuarial loss, net
Net of Tax Amount
Amortization of prior service cost			11,855	15,558
Amortization of actuarial loss, net \| Other expense, net
Before Tax Amount
Reclassification adjustments, before tax	7,401	10,387	15,887	20,740
Tax
Amortization of prior service cost	1,913	2,594	4,032	5,182
Net of Tax Amount
Amortization of prior service cost	5,488	7,793	11,855	15,558
Foreign currency translation:
Before Tax Amount
Other comprehensive income before reclassifications, before tax	(26,870)	222,507	(114,064)	335,647
Tax
Before reclassifications tax	0	0	0	0
Net of Tax Amount
Before reclassifications, net of tax	(26,870)	222,507	(114,064)	335,647
Change in marketable securities
Before Tax Amount
Other comprehensive income before reclassifications, before tax	(1,808)	(55)	(2,201)	(655)
Tax
Before reclassifications tax	(379)	(11)	(461)	(137)
Net of Tax Amount
Before reclassifications, net of tax	(1,429)	(44)	(1,740)	(518)
Hedging, net of tax
Before Tax Amount
Other comprehensive income before reclassifications, before tax	3,205	(11,202)	16,195	(48,442)
Tax
Before reclassifications tax	944	(2,871)	4,198	(15,883)
Net of Tax Amount
Before reclassifications, net of tax	2,261	(8,331)	11,997	(32,559)
Amortization of cash flow hedges
Net of Tax Amount
Amortization of prior service cost			4,310	4,310
Before reclassifications, net of tax			(6,530)	(632)
Amortization of cash flow hedges \| Operating expenses
Before Tax Amount
Other comprehensive income before reclassifications, before tax	(7,944)	16,352	(8,507)	(489)
Tax
Before reclassifications tax	(1,843)	4,017	(1,977)	143
Net of Tax Amount
Before reclassifications, net of tax	(6,101)	12,335	(6,530)	(632)
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 hedges
Before Tax Amount
Other comprehensive income before reclassifications, before tax	11,149	(27,554)	24,702	(47,953)
Tax
Before reclassifications tax	2,787	(6,888)	6,175	(16,026)
Net of Tax Amount
Before reclassifications, net of tax	$ 8,362	$ (20,666)	$ 18,527	$ (31,927)

OTHER COMPREHENSIVE INCOME - Ro

OTHER COMPREHENSIVE INCOME - Roll forward of Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jan. 02, 2022	Dec. 26, 2020	Jan. 02, 2022	Dec. 26, 2020
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 1,673,292	$ 1,300,011	$ 1,552,896	$ 1,158,613
Ending balance	1,221,072	1,426,799	1,221,072	1,426,799
Total
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(1,217,937)	(1,612,386)	(1,148,764)	(1,710,881)
Ending balance	(1,236,258)	(1,388,169)	(1,236,258)	(1,388,169)
Pension and Other Postretirement Benefit Plans, net of tax
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(1,061,991)	(1,265,714)
Ending balance	(1,049,988)	(1,249,882)	(1,049,988)	(1,249,882)
Amortization of prior service cost
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassification adjustment, net of tax			148	274
Amortization of unrecognized net actuarial losses
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassification adjustment, net of tax			11,855	15,558
Foreign Currency Translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(40,092)	(402,384)
OCI before reclassifications, net of tax	(26,870)	222,507	(114,064)	335,647
Ending balance	(154,156)	(66,737)	(154,156)	(66,737)
Hedging, net of tax
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(51,096)	(49,878)
OCI before reclassifications, net of tax	2,261	(8,331)	11,997	(32,559)
Ending balance	(34,789)	(78,127)	(34,789)	(78,127)
Amortization of cash flow hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
OCI before reclassifications, net of tax			(6,530)	(632)
Reclassification adjustment, net of tax			4,310	4,310
Change in net investment hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
OCI before reclassifications, net of tax	8,362	(20,666)	18,527	(31,927)
Change in marketable securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			4,415	7,095
OCI before reclassifications, net of tax	(1,429)	(44)	(1,740)	(518)
Ending balance	$ 2,675	$ 6,577	$ 2,675	$ 6,577

SHARE-BASED COMPENSATION - Stoc

SHARE-BASED COMPENSATION - Stock Incentive Plans (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jan. 02, 2022	Dec. 26, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted (in shares)	1,224,150
Options granted, weighted average grant date fair value (in dollars per share)	$ 17.39
Share-based compensation expense	$ 60,254	$ 47,122
Total unrecognized compensation cost related to share-based compensation arrangements	$ 133,600
Weighted average period of time for unrecognized compensation cost to be recognized (in years)	1 year 10 months 9 days
Performance Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity instruments other than options granted (in shares)	470,720
Equity instruments other than options granted, weighted average grant date fair value per share (in dollars per share)	$ 76.75
Performance period	3 years
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity instruments other than options granted (in shares)	201,922
Equity instruments other than options granted, weighted average grant date fair value per share (in dollars per share)	$ 76.49
Employees' Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity instruments other than options granted (in shares)	465,814
Equity instruments other than options granted, weighted average grant date fair value per share (in dollars per share)	$ 11.78

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
INCOME TAXES - Narrative (Details) - USD ($) $ in Millions	Jan. 02, 2022	Dec. 26, 2020	Sep. 26, 2020	Jan. 02, 2022	Dec. 26, 2020
Income Tax Disclosure [Abstract]
Effective income tax rate	21.27%	17.05%		24.18%	16.38%
Increase in reserve for uncertain tax positions				$ 12
Impact of corporate owned life insurance policies	$ 1			1
Impact of excess tax benefits of equity-based compensation	1.4	$ 4.3		2.9	$ 6.6
Tax benefit attributable to the sale of stock			$ 7.6
Impact of changes in tax law		$ 5.5
Unrecognized tax benefits	32.4			32.4
Liability recorded for interest and penalties related to unrecognized tax benefits	$ 4.6			$ 4.6

BUSINESS SEGMENT INFORMATION (D

BUSINESS SEGMENT INFORMATION (Details) $ in Thousands	3 Months Ended		6 Months Ended
BUSINESS SEGMENT INFORMATION (Details) $ in Thousands	Jan. 02, 2022USD ($)	Dec. 26, 2020USD ($)	Jan. 02, 2022USD ($)segment	Dec. 26, 2020USD ($)
Segment Reporting [Abstract]
Number of reporting segments \| segment			3
Segment Reporting Information [Line Items]
Sales	$ 16,320,203	$ 11,558,982	$ 32,776,749	$ 23,336,361
Operating income (loss):	444,909	212,062	1,076,591	631,641
Interest expense	242,899	146,498	371,113	293,215
Other income, net	(10,676)	(15,556)	(13,928)	(1,432)
Earnings before income taxes	212,686	81,120	719,406	339,858
US Foodservice Operations
Segment Reporting Information [Line Items]
Sales	11,498,155	7,924,143	23,101,118	15,845,676
International Foodservice Operations
Segment Reporting Information [Line Items]
Sales	2,806,272	1,967,789	5,701,519	4,131,482
SYGMA
Segment Reporting Information [Line Items]
Sales	1,771,323	1,520,401	3,475,356	3,044,549
Other
Segment Reporting Information [Line Items]
Sales	244,453	146,649	498,756	314,654
Operating Segments
Segment Reporting Information [Line Items]
Sales	16,320,203	11,558,982	32,776,749	23,336,361
Operating income (loss):	681,021	415,612	1,519,229	1,015,171
Operating Segments \| US Foodservice Operations
Segment Reporting Information [Line Items]
Sales	11,498,155	7,924,143	23,101,118	15,845,676
Operating income (loss):	676,822	485,251	1,474,345	1,073,660
Operating Segments \| International Foodservice Operations
Segment Reporting Information [Line Items]
Sales	2,806,272	1,967,789	5,701,519	4,131,482
Operating income (loss):	10,745	(79,949)	47,421	(80,486)
Operating Segments \| SYGMA
Segment Reporting Information [Line Items]
Sales	1,771,323	1,520,401	3,475,356	3,044,549
Operating income (loss):	(6,729)	11,328	(9,176)	23,020
Operating Segments \| Other
Segment Reporting Information [Line Items]
Sales	244,453	146,649	498,756	314,654
Operating income (loss):	183	(1,018)	6,639	(1,023)
Global Support Center
Segment Reporting Information [Line Items]
Operating income (loss):	$ (236,112)	$ (203,550)	$ (442,638)	$ (383,530)

Uncategorized Items - syy-20220

Label	Element	Value
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2016-02 [Member]