10-Q Filing

AVNET INC CIK: 8858 Q2 2015

Filing Information

Form Type	10-Q
Accession Number	`0000008858-15-000008`
Period End Date	20141231
Filing Date	20150123
Fiscal Year	2015
Fiscal Period	Q2
XBRL Instance	avt-20141227.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 70 Cash Flow Statement 59 Comprehensive Income 16

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Allowance for Doubtful Accounts Receivable, Current	`AllowanceForDoubtfulAccountsReceivableCurrent`	$96.38M	USD	Point-in-time
Allowance for Doubtful Accounts Receivable, Current	`AllowanceForDoubtfulAccountsReceivableCurrent`	$94.33M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$903.33M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$928.97M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.01B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$779.33M	USD	Point-in-time
Common Stock, Par Value	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Receivables, less allowances of $94,327 and $96,382, respectively	`AccountsReceivableNetCurrent`	$5.70B	USD	Point-in-time
Receivables, less allowances of $94,327 and $96,382, respectively	`AccountsReceivableNetCurrent`	$5.22B	USD	Point-in-time
Common Stock, Par Value	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Inventories	`InventoryNet`	$2.49B	USD	Point-in-time
Inventories	`InventoryNet`	$2.61B	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Prepaid and other current assets	`OtherAssetsCurrent`	$191.34M	USD	Point-in-time
Prepaid and other current assets	`OtherAssetsCurrent`	$196.11M	USD	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	135.89M	shares	Point-in-time
Common Stock, Shares, Issued	`CommonStockSharesIssued`	138.29M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$8.95B	USD	Point-in-time
Treasury Stock, Shares	`TreasuryStockShares`	34,288.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$9.29B	USD	Point-in-time
Treasury Stock, Shares	`TreasuryStockShares`	36,836.00	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$541.90M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$535.00M	USD	Point-in-time
Goodwill	`Goodwill`	$1.30B	USD	Point-in-time
Goodwill	`Goodwill`	$1.35B	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$152.26M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$184.31M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$233.54M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$208.46M	USD	Point-in-time
Total assets	`Assets`	$11.49B	USD	Point-in-time
Total assets	`Assets`	$11.26B	USD	Point-in-time
Short-term debt	`ShortTermBorrowings`	$409.18M	USD	Point-in-time
Short-term debt	`ShortTermBorrowings`	$865.09M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.40B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.85B	USD	Point-in-time
Accrued expenses and other	`AccruedLiabilitiesCurrent`	$672.58M	USD	Point-in-time
Accrued expenses and other	`AccruedLiabilitiesCurrent`	$711.37M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.93B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.98B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$1.21B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$1.69B	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$172.68M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$161.80M	USD	Point-in-time
Total liabilities	`Liabilities`	$6.79B	USD	Point-in-time
Total liabilities	`Liabilities`	$6.37B	USD	Point-in-time
Commitments and contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock $1.00 par; authorized 300,000,000 shares; issued 135,888,295 shares and 138,285,825 shares, respectively	`CommonStockValue`	$135.89M	USD	Point-in-time
Common stock $1.00 par; authorized 300,000,000 shares; issued 135,888,295 shares and 138,285,825 shares, respectively	`CommonStockValue`	$138.29M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.36B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.39B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$3.40B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$3.26B	USD	Point-in-time
Accumulated other comprehensive (loss) income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$139.51M	USD	Point-in-time
Accumulated other comprehensive (loss) income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-220.96M	USD	Point-in-time
Treasury stock at cost, 34,288 shares and 36,836 shares, respectively	`TreasuryStockValue`	$675.00K	USD	Point-in-time
Treasury stock at cost, 34,288 shares and 36,836 shares, respectively	`TreasuryStockValue`	$564.00K	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$4.89B	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$4.70B	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$11.26B	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$11.49B	USD	Point-in-time

Income Statement 70 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueNet`	$13.77B	USD	2 Qtrs
Sales	`SalesRevenueNet`	$14.39B	USD	2 Qtrs
Sales	`SalesRevenueNet`	$7.55B	USD	1 Quarter
Sales	`SalesRevenueNet`	$7.42B	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$6.71B	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$12.76B	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$12.18B	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$6.57B	USD	1 Quarter
Gross profit	`GrossProfit`	$1.63B	USD	2 Qtrs
Gross profit	`GrossProfit`	$848.63M	USD	1 Quarter
Gross profit	`GrossProfit`	$837.51M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.58B	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.14B	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.16B	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$573.96M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$598.62M	USD	1 Quarter
Restructuring, integration and other expenses	`RestructuringIntegrationAndOtherCharges`	$40.54M	USD	2 Qtrs
Restructuring, integration and other expenses	`RestructuringIntegrationAndOtherCharges`	$28.44M	USD	1 Quarter
Restructuring, integration and other expenses	`RestructuringIntegrationAndOtherCharges`	$31.58M	USD	2 Qtrs
Restructuring, integration and other expenses	`RestructuringIntegrationAndOtherCharges`	$13.26M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$443.48M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$400.56M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$221.57M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$250.29M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-5.52M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-4.79M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-4.00M	USD	2 Qtrs
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-7.02M	USD	2 Qtrs
Interest expense	`InterestExpense`	$55.20M	USD	2 Qtrs
Interest expense	`InterestExpense`	$48.07M	USD	2 Qtrs
Interest expense	`InterestExpense`	$24.67M	USD	1 Quarter
Interest expense	`InterestExpense`	$28.23M	USD	1 Quarter
Gain on legal settlement (Note 6)	`GainLossRelatedToLitigationSettlement`	-	USD	2 Qtrs
Gain on legal settlement (Note 6)	`GainLossRelatedToLitigationSettlement`	-	USD	1 Quarter
Gain on legal settlement (Note 6)	`GainLossRelatedToLitigationSettlement`	-	USD	1 Quarter
Gain on legal settlement (Note 6)	`GainLossRelatedToLitigationSettlement`	$19.14M	USD	1 Quarter
Gain on legal settlement (Note 6)	`GainLossRelatedToLitigationSettlement`	$19.14M	USD	2 Qtrs
Gain on legal settlement (Note 6)	`GainLossRelatedToLitigationSettlement`	$3.00M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$220.10M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$188.55M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$388.40M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$360.49M	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$115.01M	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$63.69M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$56.39M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$96.75M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$163.71M	USD	1 Quarter
Net income	`NetIncomeLoss`	$245.49M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$291.65M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$124.86M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.91	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$2.12	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$1.20	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$1.78	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$1.18	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$2.08	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$1.75	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.89	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	136.54M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	137.56M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	137.70M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	137.43M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	139.91M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	139.93M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	138.97M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	140.14M	shares	1 Quarter
Cash dividends paid per common share	`CommonStockDividendsPerShareCashPaid`	$0.16	USD	1 Quarter
Cash dividends paid per common share	`CommonStockDividendsPerShareCashPaid`	$0.15	USD	1 Quarter
Cash dividends paid per common share	`CommonStockDividendsPerShareCashPaid`	$0.32	USD	2 Qtrs
Cash dividends paid per common share	`CommonStockDividendsPerShareCashPaid`	$0.30	USD	2 Qtrs

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$163.71M	USD	1 Quarter
Net income	`NetIncomeLoss`	$245.49M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$291.65M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$124.86M	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$44.73M	USD	2 Qtrs
Depreciation	`DepreciationDepletionAndAmortization`	$46.97M	USD	2 Qtrs
Amortization	`AmortizationOfIntangibleAssets`	$10.43M	USD	1 Quarter
Amortization	`AmortizationOfIntangibleAssets`	$12.51M	USD	1 Quarter
Amortization	`AmortizationOfIntangibleAssets`	$21.99M	USD	2 Qtrs
Amortization	`AmortizationOfIntangibleAssets`	$20.90M	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$15.28M	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$11.93M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$28.94M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$36.13M	USD	2 Qtrs
Other, net	`OtherNoncashIncomeExpense`	$-51.62M	USD	2 Qtrs
Other, net	`OtherNoncashIncomeExpense`	$-34.52M	USD	2 Qtrs
Receivables	`IncreaseDecreaseInAccountsReceivable`	$771.73M	USD	2 Qtrs
Receivables	`IncreaseDecreaseInAccountsReceivable`	$711.06M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$158.47M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$5.96M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$583.34M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$348.52M	USD	2 Qtrs
Accrued expenses and other, net	`IncreaseDecreaseInAccruedLiabilities`	$23.88M	USD	2 Qtrs
Accrued expenses and other, net	`IncreaseDecreaseInAccruedLiabilities`	$-88.44M	USD	2 Qtrs
Net cash flows provided (used) for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-154.20M	USD	2 Qtrs
Net cash flows provided (used) for operating activities	`NetCashProvidedByUsedInOperatingActivities`	$224.42M	USD	2 Qtrs
Borrowings under accounts receivable securitization program, net	`ProceedsFromRepaymentsOfAccountsReceivableSecuritization`	$77.00M	USD	2 Qtrs
Borrowings under accounts receivable securitization program, net	`ProceedsFromRepaymentsOfAccountsReceivableSecuritization`	$60.00M	USD	2 Qtrs
(Repayments) borrowings of bank and other debt, net	`ProceedsFromRepaymentsOfDebt`	$-37.41M	USD	2 Qtrs
(Repayments) borrowings of bank and other debt, net	`ProceedsFromRepaymentsOfDebt`	$55.44M	USD	2 Qtrs
Repurchases of common stock (Note 9)	`PaymentsForRepurchaseOfCommonStock`	-	USD	2 Qtrs
Repurchases of common stock (Note 9)	`PaymentsForRepurchaseOfCommonStock`	$109.13M	USD	2 Qtrs
Dividends paid on common stock	`PaymentsOfDividendsCommonStock`	$21.76M	USD	1 Quarter
Dividends paid on common stock	`PaymentsOfDividendsCommonStock`	$41.26M	USD	2 Qtrs
Dividends paid on common stock	`PaymentsOfDividendsCommonStock`	$43.88M	USD	2 Qtrs
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-5.44M	USD	2 Qtrs
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$4.29M	USD	2 Qtrs
Net cash flows (used) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$78.47M	USD	2 Qtrs
Net cash flows (used) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-118.86M	USD	2 Qtrs
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$83.64M	USD	2 Qtrs
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$47.02M	USD	2 Qtrs
Acquisitions of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	-	USD	2 Qtrs
Acquisitions of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$116.88M	USD	2 Qtrs
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$8.79M	USD	2 Qtrs
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-1.80M	USD	2 Qtrs
Net cash flows used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-92.44M	USD	2 Qtrs
Net cash flows used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-162.11M	USD	2 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-38.77M	USD	2 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$7.83M	USD	2 Qtrs
(decrease)	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-25.64M	USD	2 Qtrs
(decrease)	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-230.01M	USD	2 Qtrs
at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$903.33M	USD	Point-in-time
at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$928.97M	USD	Point-in-time
at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.01B	USD	Point-in-time
at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$779.33M	USD	Point-in-time
at end of period	`CashAndCashEquivalentsAtCarryingValue`	$903.33M	USD	Point-in-time
at end of period	`CashAndCashEquivalentsAtCarryingValue`	$928.97M	USD	Point-in-time
at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.01B	USD	Point-in-time
at end of period	`CashAndCashEquivalentsAtCarryingValue`	$779.33M	USD	Point-in-time

Comprehensive Income 16 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$163.71M	USD	1 Quarter
Net income	`NetIncomeLoss`	$245.49M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$291.65M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$124.86M	USD	1 Quarter
Foreign currency translation adjustments and other	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-364.04M	USD	2 Qtrs
Foreign currency translation adjustments and other	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$108.00M	USD	2 Qtrs
Foreign currency translation adjustments and other	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-158.30M	USD	1 Quarter
Foreign currency translation adjustments and other	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$16.05M	USD	1 Quarter
Pension adjustments, net	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-3.23M	USD	1 Quarter
Pension adjustments, net	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-3.29M	USD	2 Qtrs
Pension adjustments, net	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-3.57M	USD	2 Qtrs
Pension adjustments, net	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-1.78M	USD	1 Quarter
Total comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-68.81M	USD	2 Qtrs
Total comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$356.78M	USD	2 Qtrs
Total comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$144.14M	USD	1 Quarter
Total comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$7.19M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.