Sysco 2009 Annual Report Download - page 83

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Sysco
Sysco
International
Other Non-Guarantor
Subsidiaries Eliminations
Consolidated
Totals
Condensed Consolidating Results of Operations
Year Ended June 27, 2009
(In thousands)
Sales . .............................. $ — $ — $ 36,853,330 $ — $ 36,853,330
Cost of sales . . ....................... — — 29,816,999 — 29,816,999
Gross margin . . ....................... — — 7,036,331 — 7,036,331
Operating expenses .................... 218,241 117 4,945,762 — 5,164,120
Operating income ...................... (218,241) (117) 2,090,569 — 1,872,211
Interest expense (income) ................ 476,238 11,142 (371,058) — 116,322
Other income, net . ..................... (3,273) — (11,672) — (14,945)
Earnings (losses) before income taxes . ....... (691,206) (11,259) 2,473,299 — 1,770,834
Income tax (benefit) provision . . . ........... (279,041) (4,545) 998,472 — 714,886
Equity in earnings of subsidiaries ........... 1,468,113 44,626 — (1,512,739) —
Net earnings. . . ....................... $ 1,055,948 $ 37,912 $ 1,474,827 $ (1,512,739) $ 1,055,948
Sysco
Sysco
International
Other Non-Guarantor
Subsidiaries Eliminations
Consolidated
Totals
Condensed Consolidating Results of Operations
Year Ended June 28, 2008
(In thousands)
Sales . .............................. $ — $ — $ 37,522,111 $ — $ 37,522,111
Cost of sales . . ....................... — — 30,327,254 — 30,327,254
Gross margin . . ....................... — — 7,194,857 — 7,194,857
Operating expenses .................... 206,338 142 5,108,428 — 5,314,908
Operating income ...................... (206,338) (142) 2,086,429 — 1,879,949
Interest expense (income) ................ 462,554 11,736 (362,749) — 111,541
Other income, net . ..................... (7,373) — (15,557) — (22,930)
Earnings (losses) before income taxes . ....... (661,519) (11,878) 2,464,735 — 1,791,338
Income tax (benefit) provision . . . ........... (253,031) (4,543) 942,761 — 685,187
Equity in earnings of subsidiaries ........... 1,514,639 33,907 — (1,548,546) —
Net earnings. . . ....................... $ 1,106,151 $ 26,572 $ 1,521,974 $ (1,548,546) $ 1,106,151
Sysco
Sysco
International
Other Non-Guarantor
Subsidiaries Eliminations
Consolidated
Totals
Condensed Consolidating Results of Operations
Year Ended June 30, 2007
(In thousands)
Sales . .............................. $ — $ — $ 35,042,075 $ — $ 35,042,075
Cost of sales . . ....................... — — 28,284,603 — 28,284,603
Gross margin . . ....................... — — 6,757,472 — 6,757,472
Operating expenses .................... 213,915 127 4,834,948 — 5,048,990
Operating income ...................... (213,915) (127) 1,922,524 — 1,708,482
Interest expense (income) ................ 410,190 11,813 (317,001) — 105,002
Other income, net . ..................... (8,984) — (8,751) — (17,735)
Earnings (losses) before income taxes . ....... (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
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