Sysco 2010 Annual Report Download - page 92
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Sysco
International
Other
Non-Guarantor
Subsidiaries Eliminations
Consolidated
Totals
Condensed Consolidating Results of Operations
Year Ended July 3, 2010
(53 Weeks)
(In thousands)
Sales . . . ................................ $ — $ — $37,243,495 $ — $ 37,243,495
Cost of sales .............................. — — 30,136,009 — 30,136,009
Gross margin .............................. — — 7,107,486 — 7,107,486
Operating expenses ......................... 272,047 112 4,859,459 — 5,131,618
Operating income (loss) . ..................... (272,047) (112) 2,248,027 — 1,975,868
Interest expense (income) ..................... 496,410 10,961 (381,894) — 125,477
Other expense (income), net ................... 5,546 — (4,744) — 802
Earnings (losses) before income taxes . . .......... (774,003) (11,073) 2,634,665 — 1,849,589
Income tax (benefit) provision .................. (280,212) (4,009) 953,827 — 669,606
Equity in earnings of subsidiaries ................ 1,673,774 38,342 — (1,712,116) —
Net earnings .............................. $ 1,179,983 $ 31,278 $ 1,680,838 $ (1,712,116) $ 1,179,983
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 (loss) . ..................... (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 (loss) . ..................... (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
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