01—Abstract
Summary
Summary of the 10-K/A filed March 3, 2016. Cited figures are marked; the original filing is the authoritative source.
This Form 10-K/A (Amendment No. 1) from Sysco Corporation amends the annual report for the fiscal year ended June 27, 2015, originally filed August 25, 2015.
Its stated purpose is to add the conformed signature to the consent of Ernst & Young LLP, the independent registered public accounting firm, which was omitted from the EDGAR version of the original consent. The amendment is signed by Joel T. Grade, Executive Vice President and Chief Financial Officer, dated March 2, 2016.
It states that no financial statements are included, and that it does not modify any financial or other information in the Original Filing. The filing states that the financial statements (consolidated balance sheets, statements of operations, comprehensive income and cash flows for fiscal 2013 through 2015, and the notes) were previously filed with the Original Filing and are not restated here. It also incorporates by reference the exhibit index from the Original Filing and adds new Section 302 certifications (Exhibits 31.3 and 31.4), with paragraphs 3 through 5 omitted under the stated rule.
The cover page reports an aggregate market value of voting stock held by non-affiliates of approximately $23,927,875,000a as of December 27, 2014, and 594,917,977 shares of common stock outstanding as of August 13, 2015. Common stock with a $1.00 par value is listed on the New York Stock Exchange.
02—Key points
Key Highlights
- Amendment No. 1 to the fiscal 2015 Form 10-K (year ended June 27, 2015) adds the conformed signature omitted from Ernst & Young LLP's consent as filed on EDGAR.
- No financial statements are included in this amendment; the financial statements remain in the Original Filing filed August 25, 2015.
- The amendment states that it does not modify, amend or update any financial or other information in the Original Filing and does not reflect subsequent events.
- New Section 302 CEO and CFO certifications (Exhibits 31.3 and 31.4) are attached, with paragraphs 3 through 5 omitted.
- Non-affiliate aggregate market value of common stock was approximately $23,927,875,000 as of December 27, 2014.
- 594,917,977 shares of common stock were outstanding as of August 13, 2015.
- The company is a Large Accelerated Filer and a well-known seasoned issuer, and reports that it is not a shell company.
03—One dollar
Follow one dollar
Of each $1.00 of revenue in FY2015, Sysco kept $0.01.
- Revenue$48.68B100.0%
- Cost of revenue−$40.13B82.4%
- Gross profit$8.55B17.6%
- Operating costs−$7.32B15.0%
- Operating income$1.23B2.5%
- Interest, other & tax−$542.6M1.1%
- Net income$686.8M1.4%
Where FY2015 revenue went
$48.68B- Cost of revenue: $40.13B, 82% of revenue
- Operating costs: $7.32B, 15% of revenue
- Net income: $686.8M, 1.4% of revenue
- Interest, other & tax: $542.6M, 1.1% of revenue
Kept 1.4% as net incomeNet income $686.8M · 1.4%
Full revenue history →04—Financials
Financial Highlights
Figures from 10-K/AFY2015filed March 3, 2016Financial Statements
FY2015 against FY2014
| Line item | FY2015FY2014 | Change |
|---|---|---|
| Revenue | $48.68B$46.52B | +4.7% |
| Gross Profit | $8.55B$8.18B | +4.5% |
| Operating Expenses | $7.32B$6.59B | +11.0% |
| Operating Income | $1.23B$1.59B | −22.5% |
| Net Income | $686.77M$931.53M | −26.3% |
| EPS (Basic) | $1.16$1.59 | −27.0% |
| EPS (Diluted) | $1.15$1.58 | −27.2% |
| Shares Outstanding (Basic) | 592.07M585.99M | +1.0% |
| Shares Outstanding (Diluted) | 596.85M590.22M | +1.1% |
05—Questions
Frequently Asked Questions
Why was this 10-K/A filed?
The filing states that the signed consent of Ernst & Young LLP was delivered before the Original Filing, but the conformed signature was inadvertently omitted from the version filed via EDGAR. This amendment adds that conformed signature.
Does this amendment change Sysco's financial results?
No. The filing states that no financial statements are included, that no other changes were made to the Original Filing, and that it does not modify any financial or other information in that filing.
Where can investors find the fiscal 2015 financial statements?
The filing states that the consolidated financial statements and notes for the fiscal years ended June 27, 2015, June 28, 2014 and June 29, 2013 were previously filed with the SEC on August 25, 2015, as part of the Original Filing on Form 10-K.
What is the company's market profile according to the cover page?
The cover page reports an aggregate market value of approximately $23,927,875,000 for non-affiliate voting stock as of December 27, 2014, and 594,917,977 common shares outstanding as of August 13, 2015. The stock is listed on the New York Stock Exchange.
06—Continue