Cash Flow Statement
Quarterly Data

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Sysco Corp., consolidated cash flow statement (quarterly data)

US$ in millions

3 months ended:	Jun 29, 2024	Mar 30, 2024	Dec 30, 2023	Sep 30, 2023	Jul 1, 2023	Apr 1, 2023	Dec 31, 2022	Oct 1, 2022	Jul 2, 2022	Apr 2, 2022	Jan 1, 2022	Oct 2, 2021	Jul 3, 2021	Mar 27, 2021	Dec 26, 2020	Sep 26, 2020	Jun 27, 2020	Mar 28, 2020	Dec 28, 2019	Sep 28, 2019	Jun 29, 2019	Mar 30, 2019	Dec 29, 2018	Sep 29, 2018
Net earnings (loss)	612)	425)	415)	503)	734)	430)	141)	466)	510)	303)	167)	378)	151)	89)	67)	217)	(618)	(3)	383)	454)	536)	440)	267)	431)
Pension settlement charge	—)	—)	—)	—)	—)	—)	315)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Share-based compensation expense	27)	24)	29)	24)	22)	21)	25)	27)	32)	30)	31)	29)	30)	19)	21)	26)	(22)	17)	25)	21)	27)	24)	25)	29)
Depreciation and amortization	226)	221)	219)	206)	201)	196)	190)	189)	201)	194)	191)	186)	195)	177)	185)	181)	247)	186)	185)	187)	187)	184)	205)	188)
Operating lease asset amortization	32)	33)	30)	29)	29)	28)	28)	28)	26)	28)	27)	28)	32)	26)	28)	27)	25)	30)	27)	27)	—)	—)	—)	—)
Amortization of debt issuance and other debt-related costs	5)	5)	5)	5)	5)	5)	5)	5)	6)	5)	5)	6)	7)	7)	6)	7)	7)	5)	5)	5)	5)	5)	5)	6)
Goodwill impairment	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	134)	69)	—)	—)	—)	—)	—)	—)
Impairment of assets held for sale	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	56)	—)	—)	—)	—)	—)	—)	—)
Deferred income taxes	52)	3)	(6)	(22)	147)	(40)	(92)	(31)	46)	(37)	(42)	(30)	4)	(54)	(54)	(54)	(46)	(69)	(50)	(25)	(29)	(9)	(69)	(20)
Provision for (gains) losses on receivables	14)	14)	12)	18)	14)	12)	6)	4)	(16)	(1)	(1)	2)	(15)	(43)	(16)	(78)	190)	175)	20)	19)	19)	16)	17)	10)
Loss on extinguishment of debt	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	116)	—)	294)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
(Gain) loss on sale of business	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	11)	—)	12)	—)	—)	—)	—)	(66)	—)	—)	—)
Other non-cash items	(10)	1)	(2)	(2)	(10)	(9)	7)	5)	(4)	(10)	1)	—)	(9)	2)	(3)	(7)	(7)	4)	1)	2)	5)	(8)	4)	(4)
(Increase) decrease in receivables	215)	(300)	259)	(285)	135)	(318)	489)	(577)	(63)	(523)	93)	(479)	(532)	(323)	303)	(111)	573)	504)	75)	(236)	114)	(180)	45)	(182)
(Increase) decrease in inventories	56)	(28)	87)	(185)	150)	51)	61)	(283)	(64)	(287)	(63)	(295)	(469)	(120)	61)	(23)	612)	(218)	(93)	(186)	117)	(27)	25)	(229)
(Increase) decrease in prepaid expenses and other current assets	(25)	20)	43)	(39)	8)	3)	19)	(28)	30)	(13)	—)	(13)	18)	(28)	(28)	6)	49)	—)	(8)	(30)	2)	11)	(8)	(24)
Increase (decrease) in accounts payable	386)	123)	(217)	(188)	107)	479)	(679)	289)	46)	681)	(246)	330)	659)	716)	(492)	577)	(480)	(163)	(152)	(39)	15)	99)	54)	78)
Increase (decrease) in accrued expenses	(41)	12)	57)	(40)	78)	8)	(52)	(11)	292)	36)	199)	(103)	158)	(11)	(36)	56)	(111)	21)	43)	(93)	75)	(30)	203)	(111)
Increase (decrease) in operating lease liabilities	(41)	(39)	(37)	(27)	(33)	(44)	(24)	(33)	(26)	(34)	(31)	(34)	(48)	(31)	(32)	(31)	(28)	(34)	(32)	(31)	—)	—)	—)	—)
Increase (decrease) in accrued income taxes	81)	(13)	(135)	80)	(28)	117)	(106)	109)	32)	69)	(180)	69)	(49)	104)	(35)	99)	(77)	(209)	93)	89)	47)	(31)	(112)	101)
(Increase) decrease in other assets	12)	4)	2)	20)	(18)	2)	5)	18)	6)	(2)	5)	(9)	(5)	3)	13)	7)	(3)	10)	10)	3)	(7)	6)	(17)	(4)
Increase (decrease) in other long-term liabilities	14)	13)	9)	(10)	(97)	(17)	6)	(17)	(8)	(70)	(6)	46)	1)	—)	18)	21)	39)	(2)	52)	4)	(2)	(54)	3)	2)
Additional changes in certain assets and liabilities, net of effect of businesses acquired	657)	(208)	67)	(673)	301)	279)	(281)	(534)	245)	(143)	(229)	(488)	(265)	311)	(229)	600)	574)	(90)	(13)	(518)	362)	(205)	192)	(369)
Adjustments to reconcile net earnings (loss) to cash provided by operating activities	1,004)	93)	354)	(416)	708)	493)	204)	(307)	535)	65)	99)	(267)	273)	454)	(62)	714)	1,159)	327)	199)	(282)	510)	7)	379)	(160)
Net cash provided by operating activities	1,616)	517)	769)	87)	1,442)	922)	345)	159)	1,045)	369)	266)	111)	424)	543)	6)	931)	540)	324)	583)	172)	1,046)	447)	647)	271)
Additions to plant and equipment	(302)	(183)	(175)	(171)	(319)	(165)	(142)	(167)	(305)	(146)	(96)	(85)	(220)	(87)	(88)	(76)	(117)	(210)	(218)	(176)	(309)	(159)	(120)	(104)
Proceeds from sales of plant and equipment	58)	2)	7)	11)	14)	3)	3)	22)	8)	10)	—)	6)	40)	4)	8)	7)	15)	3)	5)	5)	5)	9)	3)	4)
Acquisition of businesses, net of cash acquired	(29)	(7)	(955)	(219)	—)	—)	(5)	(33)	1)	(512)	(56)	(714)	—)	—)	—)	—)	—)	—)	(68)	(75)	(9)	(98)	—)	—)
Proceeds from sale of business	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	150)	—)	—)	—)
Purchase of marketable securities	(22)	(10)	(2)	—)	(1)	(1)	(11)	(3)	—)	(1)	(9)	(10)	(8)	(9)	(10)	(27)	—)	—)	(7)	(4)	(1)	(116)	—)	—)
Proceeds from sales of marketable securities	29)	—)	—)	—)	—)	—)	9)	3)	—)	—)	8)	9)	5)	10)	9)	12)	3)	8)	6)	3)	—)	—)	—)	—)
Other investing activities	4)	1)	—)	—)	3)	1)	2)	3)	1)	6)	1)	6)	—)	—)	—)	—)	2)	67)	1)	—)	2)	—)	(1)	1)
Net cash used for investing activities	(261)	(196)	(1,125)	(380)	(303)	(162)	(145)	(175)	(295)	(642)	(152)	(789)	(183)	(82)	(81)	(83)	(96)	(132)	(281)	(247)	(163)	(363)	(117)	(100)
Bank and commercial paper borrowings, net	(325)	25)	200)	300)	—)	(155)	58)	97)	—)	—)	—)	—)	(415)	(418)	3)	3)	596)	(701)	188)	533)	(68)	90)	110)	—)
Other debt borrowings including senior notes	101)	129)	1,006)	127)	75)	34)	81)	59)	(3)	1)	1,250)	—)	(1)	(1)	(2)	6)	4,101)	2,663)	(13)	32)	(2)	7)	(3)	386)
Other debt repayments including senior notes	(108)	(151)	(168)	(20)	(748)	(24)	(39)	(18)	(456)	(15)	(13)	(10)	(514)	(716)	(11)	(763)	(1,091)	(5)	(7)	(16)	(512)	(262)	(9)	(8)
Redemption premiums and repayments for senior notes	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(1,396)	—)	(1,000)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Cash received from termination of interest rate swap agreements	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	23)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Proceeds from stock option exercises	17)	46)	40)	17)	12)	20)	23)	25)	39)	53)	18)	18)	18)	46)	35)	32)	41)	45)	56)	85)	42)	73)	54)	84)
Stock repurchases	(532)	(500)	(100)	(100)	(122)	(110)	—)	(268)	(84)	—)	(416)	—)	—)	—)	—)	—)	—)	(214)	(281)	(349)	(155)	(128)	(535)	(205)
Dividends paid	(250)	(253)	(253)	(253)	(249)	(249)	(249)	(249)	(239)	(238)	(241)	(241)	(228)	(231)	(230)	(229)	(228)	(229)	(199)	(200)	(200)	(196)	(192)	(187)
Other financing activities	(1)	(13)	(13)	(5)	—)	(11)	(1)	(46)	(2)	(14)	(16)	(5)	2)	(14)	—)	—)	(42)	(24)	—)	(22)	(2)	(14)	(4)	(2)
Net cash provided by (used for) financing activities	(1,098)	(717)	711)	66)	(1,033)	(496)	(127)	(400)	(746)	(213)	(790)	(238)	(2,138)	(1,334)	(205)	(951)	3,377)	1,536)	(256)	63)	(897)	(429)	(579)	68)
Effect of exchange rates on cash, cash equivalents and restricted cash	(4)	(7)	12)	(11)	6)	4)	9)	(11)	(18)	(3)	(2)	(9)	9)	8)	60)	17)	(10)	(14)	11)	(5)	(3)	(3)	(6)	(2)
Net increase (decrease) in cash, cash equivalents and restricted cash	252)	(403)	368)	(238)	112)	269)	82)	(428)	(14)	(490)	(677)	(925)	(1,888)	(864)	(220)	(86)	3,811)	1,713)	57)	(18)	(18)	(347)	(56)	238)

Net earnings (loss): The net earnings of the company show significant variability over the periods analyzed. Initial quarters reflect positive earnings, peaking at 536 million in June 2019, followed by a sharp decline including negative results in early 2020 linked potentially to economic disruptions. Earnings recovered progressively through 2021 and 2022, reaching a high of 734 million in July 2023 before moderating somewhat in recent quarters. Overall, the trend suggests resilience and recovery after a challenging period.
Share-based compensation expense: This expense remains relatively stable across the quarters, fluctuating slightly within a narrow range around 20 to 30 million. A notable exception occurs in June 2020 with a negative figure (-22 million), likely due to adjustments or reversals. Generally, the steady nature of this expense indicates consistent stock compensation practices.
Depreciation and amortization: Depreciation and amortization expenses are mostly stable, averaging between 180 and 230 million per quarter. A mild upward trend is visible from late 2020 through mid-2024, which may correspond to increased capital investments or asset base growth.
Operating lease asset amortization: This expense line appears from mid-2019 onward, with values consistently around 25–33 million per quarter. This reveals a relatively consistent impact of leasing arrangements on amortization costs.
Goodwill impairment and impairment of assets held for sale: There are isolated charges in early 2020, with goodwill impairment recorded at 69 and 134 million, and asset impairments at 56 million. These one-time sizeable charges suggest periods of asset revaluation or disposals related to business restructuring or economic stress.
Deferred income taxes: Deferred income taxes fluctuate considerably, with negative values dominant, but occasional positive spikes, including 147 million in April 2023 and smaller positive amounts more recently. This volatility may reflect changes in tax regulations, timing differences in income recognition, or tax planning strategies.
Provision for gains/losses on receivables: Provision amounts spike sharply in late 2019 and early 2020, reaching 175 and 190 million, then turn negative before stabilizing back to moderate positive values around 10 to 20 million. The early spike indicates increased credit risk or write-offs during the onset of the pandemic, followed by recovery.
(Increase) decrease in receivables: Receivables exhibit volatile and large fluctuations, with increases in early 2020 suggesting extended credit terms or delayed collections, followed by significant decreases in other quarters. This pattern corroborates working capital challenges or management activities to improve cash flow.
Increase (decrease) in accounts payable: Accounts payable changes are likewise volatile, with major decreases of up to -679 million and substantial increases of up to 681 million. These swings indicate active management of payables, possibly related to vendor negotiations or cash conservation efforts in response to market conditions.
Net cash provided by operating activities: The cash flow from operating activities fluctuates widely, corresponding to the earnings and working capital trends. There are peaks exceeding 1,000 million in various quarters, with occasional sharp drops such as 6 million in December 2020. The overall pattern suggests recovery and strength in cash operations following initial pandemic impacts.
Additions to plant and equipment: Capital expenditures show periods of increased spending, notably in mid to late 2019 and again in 2021–2024, with amounts frequently exceeding 200 million. This suggests ongoing investment in infrastructure or capacity expansion.
Acquisition and disposal of businesses: There are sporadic acquisitions mainly through 2019 and heavy investment in late 2020 and 2021, including a large 714 million outflow in early 2021. Proceeds from business sales occur only occasionally, indicating selective portfolio adjustments.
Net cash used for investing activities: Investing activities consistently use cash each quarter, with some quarters showing significantly larger outflows. The pattern reflects sustained investment in growth opportunities and asset management, partially offset by occasional asset disposals.
Debt borrowings and repayments: Borrowings and repayments show considerable activity, with substantial debt issuances in 2020 corresponding to liquidity management during uncertain times, followed by repayments and redemptions from late 2020 onward. The transaction volumes indicate active capital structure management.
Stock repurchases and dividends paid: Stock repurchases are sizable and concentrated in certain years, notably from 2018 through early 2020 and resuming from 2021 onward, indicating shareholder return strategies when cash flows permit. Dividends remain relatively stable and consistent over the entire period, reflecting a steady policy despite earnings fluctuations.
Net cash provided by (used for) financing activities: Financing cash flows are highly variable, with large inflows in early 2020 coinciding with debt issuance, followed by significant outflows related to repurchases and debt repayments in other periods. The mixed pattern aligns with adaptive financial strategy towards capital requirements.
Overall liquidity and cash position changes: The net increase or decrease in cash and equivalents is marked by extremes: large inflows during early to mid-2020 reflecting possible cash preservation and financing activities, contrasted with steep declines in subsequent quarters. This volatility underscores dynamic cash management amid shifting market conditions.

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Sysco Corp. (NYSE:SYY)

Cash Flow Statement Quarterly Data

Cash Flow Statement
Quarterly Data