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SYSCO CORPORATION-Form10-K48
PARTII
ITEM8Financial Statements and Supplementary Data
Consolidated Results of Operations
(Inthousands except for share and per share data)
Year Ended
June29,2013 June30,2012 July2,2011
Sales $ 44,411,233 $ 42,380,939 $ 39,323,489
Cost of sales 36,543,642 34,704,362 31,928,777
Gross pro t 7,867,591 7,676,577 7,394,712
Operating expenses 6,209,113 5,785,945 5,463,210
Operating income 1,658,478 1,890,632 1,931,502
Interest expense 128,495 113,396 118,267
Other expense (income), net (17,472) (6,766) (14,219)
Earnings before income taxes 1,547,455 1,784,002 1,827,454
Income taxes 555,028 662,417 675,424
NET EARNINGS $ 992,427 $ 1,121,585 $ 1,152,030
Net earnings:
BASIC EARNINGS PER SHARE $ 1.68 $ 1.91 $ 1.96
DILUTED EARNINGS PER SHARE 1.67 1.90 1.96
Averageshares outstanding 589,397,807 587,726,343 586,526,142
Dilutedshares outstanding 592,675,110 588,991,441 588,691,546
Dividends declared per common share $ 1.11 $ 1.07 $ 1.03
See Notes to Consolidated Financial Statements
Consolidated Statements of Comprehensive Income
(Inthousands)
Year Ended
June29,2013 June30,2012 July2,2011
Net earnings $ 992,427 $ 1,121,585 $ 1,152,030
Other comprehensive income (loss):
Foreign currency translation adjustment (33,191) (81,003) 122,217
Items presented net of tax:
Amortization of cash  ow hedges 386 426 428
Settlement of cash  ow hedge - 445 -
Amortization of prior service cost 11,310 3,093 2,553
Amortization of actuarial loss (gain), net 44,610 36,860 49,013
Amortization of transition obligation 88 93 93
Prior service cost arising in current year (33,203) (5,363) (5,692)
Actuarial gain (loss), net arising in current year 225,929 (357,459) 51,681
Total other comprehensive income (loss) 215,929 (402,908) 220,293
COMPREHENSIVE INCOME $ 1,208,356 $ 718,677 $ 1,372,323
See Notes to Consolidated Financial Statements