Euthyroid Sick Syndrome is where the thyroid appears to be functioning just fine but the T3 & T4 serum levels are generally too low according to the Merck Manual:
www.merckmanuals.com/professional/endocrine_and_metabolic_disorders/thyroid_disorders/euthyroid_sick_syndrome.html "Decreased triiodothyronine (T3) levels are most common. Patients with more severe or prolonged illness also have decreased thyroxine (T4) levels. Serum reverse T3 (rT3) is increased. Patients are clinically euthyroid and do not have elevated thyroid-stimulating hormone (TSH) levels."
It also says that it can be from decreased clearance or conversion of T3 - among other things.
I hope this helps!