Name: Sysco Corp. (NYSE:SYY) | Balance Sheet: Assets
Creator: Stock Analysis on Net

Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Assets: Selected Items

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Current Assets: Selected Items

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Sysco Corp., consolidated balance sheet: assets

US$ in millions

	Jun 29, 2024	Jul 1, 2023	Jul 2, 2022	Jul 3, 2021	Jun 27, 2020	Jun 29, 2019
Cash and cash equivalents	696)	745)	867)	3,007)	6,059)	513)
Accounts receivable, less allowances	5,324)	5,092)	4,839)	3,782)	2,894)	4,182)
Inventories	4,678)	4,481)	4,437)	3,695)	3,095)	3,216)
Prepaid expenses and other current assets	323)	285)	304)	241)	192)	211)
Income tax receivable	22)	6)	36)	9)	108)	20)
Current assets	11,043)	10,608)	10,483)	10,734)	12,348)	8,142)
Plant and equipment at cost, less accumulated depreciation	5,497)	4,915)	4,456)	4,326)	4,459)	4,502)
Goodwill	5,153)	4,646)	4,542)	3,944)	3,732)	3,896)
Intangibles, less amortization	1,188)	860)	953)	746)	780)	857)
Deferred income taxes	445)	420)	378)	353)	194)	81)
Operating lease right-of-use assets, net	923)	732)	723)	709)	604)	—)
Other assets	668)	640)	550)	602)	511)	489)
Other long-term assets	8,377)	7,298)	7,146)	6,354)	5,821)	5,323)
Long-term assets	13,874)	12,213)	11,602)	10,680)	10,280)	9,825)
Total assets	24,917)	22,821)	22,086)	21,414)	22,628)	17,967)

Based on: 10-K (reporting date: 2024-06-29), 10-K (reporting date: 2023-07-01), 10-K (reporting date: 2022-07-02), 10-K (reporting date: 2021-07-03), 10-K (reporting date: 2020-06-27), 10-K (reporting date: 2019-06-29).

Total assets have demonstrated a consistent upward trajectory over the analyzed six-year period, increasing from 17,967 million US dollars in 2019 to 24,917 million US dollars in 2024. This expansion is characterized by a significant shift in asset composition, moving from a temporary surge in liquidity in 2020 toward a more substantial accumulation of long-term and operational assets.

Liquidity and Current Asset Dynamics: A volatile pattern is observed in cash and cash equivalents, which peaked sharply at 6,059 million US dollars in 2020 before steadily declining to 696 million US dollars by 2024. This suggests a period of massive liquidity accumulation followed by a systematic deployment of capital. Conversely, accounts receivable and inventories have shown steady growth; accounts receivable rose from 4,182 million US dollars in 2019 to 5,324 million US dollars in 2024, while inventories increased from 3,216 million US dollars to 4,678 million US dollars over the same period. This indicates an expansion in operational scale and an increase in working capital requirements.
Fixed Asset and Infrastructure Investment: Investment in plant and equipment, net of depreciation, remained relatively stable until 2022, after which a growth trend emerged, reaching 5,497 million US dollars in 2024. This indicates an acceleration of capital expenditures in the latter part of the period. Additionally, the emergence and subsequent growth of operating lease right-of-use assets, from 604 million US dollars in 2020 to 923 million US dollars in 2024, reflects an increasing reliance on leased infrastructure to support operations.
Intangible Assets and Strategic Growth: Goodwill and intangible assets have experienced consistent increases, with goodwill rising from 3,896 million US dollars in 2019 to 5,153 million US dollars in 2024, and intangibles increasing from 857 million US dollars to 1,188 million US dollars. The growth in these accounts suggests a strategy of expansion through acquisitions and the procurement of intangible value.
Long-term Asset Expansion: The most significant growth driver within the non-current asset category is observed in other long-term assets, which climbed from 5,323 million US dollars in 2019 to 8,377 million US dollars in 2024. This represents a substantial increase in the company's long-term asset base, contributing heavily to the overall rise in total assets. Consequently, long-term assets now comprise a larger proportion of the total balance sheet compared to 2019.

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