Sysco 2007 Annual Report Download - page 94

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CONDENSED CONSOLIDATING RESULTS OF OPERATIONS
(In thousands) SYSCO
SYSCO
International
Other Non-Guarantor
Subsidiaries Eliminations
Consolidated
Totals
Year Ended June 30, 2007
Sales ________________________________ $ — $ — $35,042,075 $ — $35,042,075
Cost of sales__________________________ — — 28,284,603 — 28,284,603
Operating expenses____________________ 213,915 127 4,834,948 — 5,048,990
Interest expense (income) ______________ 410,190 11,813 (317,001) — 105,002
Other, net ____________________________ (8,984) — (8,751) — (17,735)
Total costs and expenses _______________ 615,121 11,940 32,793,799 — 33,420,860
Earnings (losses) before income taxes and
cumulative effect of accounting
change _____________________________ (615,121) (11,940) 2,248,276 — 1,621,215
Income tax (benefit) provision ___________ (235,260) (4,567) 859,966 — 620,139
Equity in earnings of subsidiaries ________ 1,380,937 18,075 — (1,399,012) —
Net earnings__________________________ $1,001,076 $ 10,702 $ 1,388,310 $(1,399,012) $ 1,001,076
CONDENSED CONSOLIDATING RESULTS OF OPERATIONS
(In thousands) SYSCO
SYSCO
International
Other Non-Guarantor
Subsidiaries Eliminations
Consolidated
Totals
Year Ended July 1, 2006
Sales __________________________________ $ — $ — $32,628,438 $ — $32,628,438
Cost of sales ____________________________ — — 26,337,107 — 26,337,107
Operating expenses ______________________ 256,351 130 4,539,820 — 4,796,301
Interest expense (income) ________________ 374,838 11,108 (276,846) — 109,100
Other, net ______________________________ (2,919) — (6,097) — (9,016)
Total costs and expenses _________________ 628,270 11,238 30,593,984 — 31,233,492
Earnings (losses) before income taxes and
cumulative effect of accounting change ___ (628,270) (11,238) 2,034,454 — 1,394,946
Income tax (benefit) provision _____________ (181,070) (4,055) 734,031 — 548,906
Equity in earnings of subsidiaries __________ 1,293,240 6,063 — (1,299,303) —
Net earnings before cumulative effect of
accounting change _____________________ 846,040 (1,120) 1,300,423 (1,299,303) 846,040
Cumulative effect of accounting change_____ 9,285 — — — 9,285
Net earnings (loss) ______________________ $ 855,325 $ (1,120) $ 1,300,423 $(1,299,303) $ 855,325
page 68 ][ SYSCO Corporation