10-Q Filing

AVNET INC CIK: 8858 Q3 2016

Filing Information

Form Type	10-Q
Accession Number	`0000008858-16-000020`
Period End Date	20160331
Filing Date	20160429
Fiscal Year	2016
Fiscal Period	Q3
XBRL Instance	avt-20160402.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 64 Cash Flow Statement 60 Comprehensive Income 16

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable, current (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$69.97M	USD	Point-in-time
Allowance for doubtful accounts receivable, current (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$80.72M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.04B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$932.55M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$928.97M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$803.47M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Receivables, less allowances of $69,969 and $80,721, respectively	`AccountsReceivableNetCurrent`	$4.87B	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Receivables, less allowances of $69,969 and $80,721, respectively	`AccountsReceivableNetCurrent`	$5.05B	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	300.00M	shares	Point-in-time
Inventories	`InventoryNet`	$2.83B	USD	Point-in-time
Inventories	`InventoryNet`	$2.48B	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$200.58M	USD	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	128.54M	shares	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	135.50M	shares	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$173.03M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$8.64B	USD	Point-in-time
Treasury Stock, shares	`TreasuryStockShares`	28,641.00	shares	Point-in-time
Treasury Stock, shares	`TreasuryStockShares`	31,901.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$8.94B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$568.78M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$610.75M	USD	Point-in-time
Goodwill	`Goodwill`	$1.28B	USD	Point-in-time
Goodwill	`Goodwill`	$1.30B	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$86.99M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$99.73M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$194.22M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$210.61M	USD	Point-in-time
Total assets	`Assets`	$10.80B	USD	Point-in-time
Total assets	`Assets`	$11.13B	USD	Point-in-time
Short-term debt	`DebtCurrent`	$706.74M	USD	Point-in-time
Short-term debt	`DebtCurrent`	$331.12M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.34B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.30B	USD	Point-in-time
Accrued expenses and other	`AccruedLiabilitiesCurrent`	$559.70M	USD	Point-in-time
Accrued expenses and other	`AccruedLiabilitiesCurrent`	$603.13M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.27B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.56B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$1.65B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$1.61B	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$196.13M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$190.30M	USD	Point-in-time
Total liabilities	`Liabilities`	$6.11B	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 128,542,843 and 135,496,472 shares, respectively	`CommonStockValue`	$135.50M	USD	Point-in-time
Common stock $1.00 par; authorized 300,000,000 shares; issued 128,542,843 and 135,496,472 shares, respectively	`CommonStockValue`	$128.54M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.41B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.44B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$3.58B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$3.60B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-441.04M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-413.67M	USD	Point-in-time
Treasury stock at cost, 28,641 and 31,901 shares, respectively	`TreasuryStockValue`	$320.00K	USD	Point-in-time
Treasury stock at cost, 28,641 and 31,901 shares, respectively	`TreasuryStockValue`	$458.00K	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$4.69B	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$4.76B	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$11.13B	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$10.80B	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueNet`	$6.17B	USD	1 Quarter
Sales	`SalesRevenueNet`	$21.13B	USD	3 Qtrs
Sales	`SalesRevenueNet`	$6.74B	USD	1 Quarter
Sales	`SalesRevenueNet`	$19.99B	USD	3 Qtrs
Cost of sales	`CostOfRevenue`	$5.44B	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$5.96B	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$18.72B	USD	3 Qtrs
Cost of sales	`CostOfRevenue`	$17.69B	USD	3 Qtrs
Gross profit	`GrossProfit`	$774.35M	USD	1 Quarter
Gross profit	`GrossProfit`	$736.83M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.41B	USD	3 Qtrs
Gross profit	`GrossProfit`	$2.31B	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.71B	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$555.15M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.63B	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$539.04M	USD	1 Quarter
Restructuring, integration and other expenses	`RestructuringIntegrationAndOtherCharges`	$47.07M	USD	3 Qtrs
Restructuring, integration and other expenses	`RestructuringIntegrationAndOtherCharges`	$63.35M	USD	3 Qtrs
Restructuring, integration and other expenses	`RestructuringIntegrationAndOtherCharges`	$15.49M	USD	1 Quarter
Restructuring, integration and other expenses	`RestructuringIntegrationAndOtherCharges`	$16.17M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$203.71M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$647.20M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$614.70M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$181.62M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-8.95M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-15.96M	USD	3 Qtrs
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-10.14M	USD	3 Qtrs
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$2.20M	USD	1 Quarter
Interest expense	`InterestExpense`	$71.94M	USD	3 Qtrs
Interest expense	`InterestExpense`	$23.87M	USD	1 Quarter
Interest expense	`InterestExpense`	$23.28M	USD	1 Quarter
Interest expense	`InterestExpense`	$69.31M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$559.30M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$535.25M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$170.90M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$160.54M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$125.53M	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$37.08M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$49.37M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$146.12M	USD	3 Qtrs
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$413.18M	USD	3 Qtrs
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$121.53M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$123.46M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$409.73M	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	$3.11	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	$0.89	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.95	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$3.02	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.94	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.88	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$2.97	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$3.05	USD	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	136.05M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	129.81M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	136.97M	shares	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	131.83M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	137.72M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	131.65M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	134.30M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	139.18M	shares	3 Qtrs
Cash dividends paid per common share	`CommonStockDividendsPerShareCashPaid`	$0.48	USD	3 Qtrs
Cash dividends paid per common share	`CommonStockDividendsPerShareCashPaid`	$0.16	USD	1 Quarter
Cash dividends paid per common share	`CommonStockDividendsPerShareCashPaid`	$0.51	USD	3 Qtrs
Cash dividends paid per common share	`CommonStockDividendsPerShareCashPaid`	$0.17	USD	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$413.18M	USD	3 Qtrs
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$121.53M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$123.46M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$409.73M	USD	3 Qtrs
Depreciation	`DepreciationNonproduction`	$71.11M	USD	3 Qtrs
Depreciation	`DepreciationNonproduction`	$70.92M	USD	3 Qtrs
Amortization	`AmortizationOfIntangibleAssets`	$6.90M	USD	1 Quarter
Amortization	`AmortizationOfIntangibleAssets`	$32.63M	USD	3 Qtrs
Amortization	`AmortizationOfIntangibleAssets`	$10.60M	USD	1 Quarter
Amortization	`AmortizationOfIntangibleAssets`	$21.18M	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$3.96M	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$29.50M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$48.89M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$47.72M	USD	3 Qtrs
Other, net	`OtherNoncashIncomeExpense`	$-57.77M	USD	3 Qtrs
Other, net	`OtherNoncashIncomeExpense`	$-43.66M	USD	3 Qtrs
Receivables	`IncreaseDecreaseInAccountsReceivable`	$186.04M	USD	3 Qtrs
Receivables	`IncreaseDecreaseInAccountsReceivable`	$-181.72M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$89.99M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$319.87M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-74.51M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$118.45M	USD	3 Qtrs
Accrued expenses and other, net	`IncreaseDecreaseInAccruedLiabilities`	$-210.75M	USD	3 Qtrs
Accrued expenses and other, net	`IncreaseDecreaseInAccruedLiabilities`	$-87.59M	USD	3 Qtrs
Net cash flows provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$297.13M	USD	3 Qtrs
Net cash flows provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$284.55M	USD	3 Qtrs
Issuance of notes, net of issuance costs	`ProceedsFromIssuanceOfUnsecuredDebt`	$542.04M	USD	3 Qtrs
Repayment of notes	`RepaymentsOfUnsecuredDebt`	$250.00M	USD	3 Qtrs
Borrowings (repayments) under accounts receivable securitization program, net	`ProceedsFromRepaymentsOfAccountsReceivableSecuritization`	$110.00M	USD	3 Qtrs
Borrowings (repayments) under accounts receivable securitization program, net	`ProceedsFromRepaymentsOfAccountsReceivableSecuritization`	$-400.00M	USD	3 Qtrs
Borrowings (repayments) of bank and revolving debt, net	`ProceedsFromRepaymentsOfDebt`	$448.47M	USD	3 Qtrs
Borrowings (repayments) of bank and revolving debt, net	`ProceedsFromRepaymentsOfDebt`	$-96.37M	USD	3 Qtrs
Repurchases of common stock (Note 9)	`PaymentsForRepurchaseOfCommonStock`	$147.61M	USD	3 Qtrs
Repurchases of common stock (Note 9)	`PaymentsForRepurchaseOfCommonStock`	$334.18M	USD	3 Qtrs
Dividends paid on common stock	`PaymentsOfDividendsCommonStock`	$66.94M	USD	3 Qtrs
Dividends paid on common stock	`PaymentsOfDividendsCommonStock`	$65.60M	USD	3 Qtrs
Dividends paid on common stock	`PaymentsOfDividendsCommonStock`	$21.90M	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-13.99M	USD	3 Qtrs
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-12.03M	USD	3 Qtrs
Net cash flows used for financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-72.64M	USD	3 Qtrs
Net cash flows used for financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-213.57M	USD	3 Qtrs
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$133.42M	USD	3 Qtrs
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$111.07M	USD	3 Qtrs
Acquisitions of businesses, net of cash acquired (Note 2)	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$19.68M	USD	3 Qtrs
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$8.77M	USD	3 Qtrs
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-8.44M	USD	3 Qtrs
Net cash flows used for investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-122.31M	USD	3 Qtrs
Net cash flows used for investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-142.19M	USD	3 Qtrs
Effect of currency exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$1.75M	USD	3 Qtrs
Effect of currency exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-54.30M	USD	3 Qtrs
- increase (decrease)	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$103.93M	USD	3 Qtrs
- increase (decrease)	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-125.50M	USD	3 Qtrs
- at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$1.04B	USD	Point-in-time
- at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$932.55M	USD	Point-in-time
- at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$928.97M	USD	Point-in-time
- at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$803.47M	USD	Point-in-time
- at end of period	`CashAndCashEquivalentsAtCarryingValue`	$1.04B	USD	Point-in-time
- at end of period	`CashAndCashEquivalentsAtCarryingValue`	$932.55M	USD	Point-in-time
- at end of period	`CashAndCashEquivalentsAtCarryingValue`	$928.97M	USD	Point-in-time
- at end of period	`CashAndCashEquivalentsAtCarryingValue`	$803.47M	USD	Point-in-time

Comprehensive Income 16 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$413.18M	USD	3 Qtrs
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$121.53M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$123.46M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$409.73M	USD	3 Qtrs
Foreign currency translation adjustments and other	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-270.52M	USD	1 Quarter
Foreign currency translation adjustments and other	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$129.87M	USD	1 Quarter
Foreign currency translation adjustments and other	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$20.99M	USD	3 Qtrs
Foreign currency translation adjustments and other	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-634.55M	USD	3 Qtrs
Pension adjustments, net	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-5.35M	USD	3 Qtrs
Pension adjustments, net	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-1.78M	USD	1 Quarter
Pension adjustments, net	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-6.38M	USD	3 Qtrs
Pension adjustments, net	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-2.16M	USD	1 Quarter
Total comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-216.02M	USD	3 Qtrs
Total comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$255.49M	USD	1 Quarter
Total comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-147.20M	USD	1 Quarter
Total comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$437.09M	USD	3 Qtrs

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