Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

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Sysco Corp., consolidated balance sheet: assets

US$ in millions

		Jun 29, 2024		Jul 1, 2023		Jul 2, 2022		Jul 3, 2021		Jun 27, 2020		Jun 29, 2019
	Cash and cash equivalents
	Accounts receivable, less allowances
	Inventories
	Prepaid expenses and other current assets
	Income tax receivable
	Current assets
	Plant and equipment at cost, less accumulated depreciation
	Goodwill
	Intangibles, less amortization
	Deferred income taxes
	Operating lease right-of-use assets, net
	Other assets
	Other long-term assets
	Long-term assets
	Total assets

Based on: 10-K (reporting date: 2024-06-29), 10-K (reporting date: 2023-07-01), 10-K (reporting date: 2022-07-02), 10-K (reporting date: 2021-07-03), 10-K (reporting date: 2020-06-27), 10-K (reporting date: 2019-06-29).

The analysis of the annual financial data reveals several notable trends across the various asset categories over the six-year period.

Cash and Cash Equivalents: There was a significant spike in cash and cash equivalents in 2020, reaching 6,059 million USD, which then sharply declined in subsequent years to stabilize around the 700 million USD mark by 2024.
Accounts Receivable: Accounts receivable decreased in 2020 to 2,894 million USD but showed a steady growth trend thereafter, rising to 5,324 million USD by 2024, indicating increased credit sales or extended collection periods.
Inventories: Inventories experienced a dip in 2020 to 3,095 million USD, followed by consistent growth each year, reaching 4,678 million USD in 2024, reflecting an accumulation of stock or expansion in operations.
Prepaid Expenses and Other Current Assets: This item displayed minor fluctuations, with a decrease in 2020 but an overall upward trend from 192 million USD to 323 million USD in 2024.
Income Tax Receivable: Income tax receivable demonstrated volatility, peaking at 108 million USD in 2020, then generally decreasing and fluctuating without a clear trend.
Current Assets: Current assets increased significantly in 2020 to 12,348 million USD, followed by a slight decline and gradual recovery, ending at 11,043 million USD in 2024. The 2020 jump correlates with the large increase in cash and equivalents.
Plant and Equipment, Net: Plant and equipment showed a slight decline from 2019 to 2021 but steadily increased from 2022 onward, reaching 5,497 million USD in 2024, suggesting investment in fixed assets.
Goodwill: Goodwill declined between 2019 and 2020, then exhibited growth each year, ending at 5,153 million USD in 2024, which might indicate acquisitions or revaluations.
Intangibles, Net: Intangibles decreased until 2021, increased in 2022, then fluctuated before rising to 1,188 million USD in 2024. This suggests periodic additions or amortization adjustments.
Deferred Income Taxes: Deferred income taxes increased consistently year over year, from 81 million USD to 445 million USD, reflecting growing temporary differences or tax planning effects.
Operating Lease Right-of-Use Assets: This asset class appears from 2020 onward, increasing steadily from 604 million USD to 923 million USD in 2024, indicating recognition of lease obligations in accordance with accounting standards.
Other Assets: Other assets generally trended upward with minor fluctuations, increasing from 489 million USD to 668 million USD over the period.
Other Long-Term Assets: Other long-term assets rose consistently, from 5,323 million USD in 2019 to 8,377 million USD in 2024, pointing to accumulation or reclassification of assets.
Long-Term Assets: Long-term assets showed a steady growth trajectory, increasing from 9,825 million USD to 13,874 million USD, supporting an expanding asset base and investment in long-term resources.
Total Assets: Total assets increased overall from 17,967 million USD in 2019 to 24,917 million USD in 2024, with a notable jump in 2020 followed by moderate growth, indicating ongoing asset growth despite some volatility.

Assets: Selected Items

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Current Assets: Selected Items