10-Q Filing

AVNET INC CIK: 8858 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0000008858-21-000048`
Period End Date	20210930
Filing Date	20211029
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	avt-20211002x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 61 Income Statement 33 Cash Flow Statement 57 Stockholders Equity 23 Comprehensive Income 8

Balance Sheet 61 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$1.00	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$299.10M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$199.69M	USD	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	99.34M	shares	Point-in-time
Receivables	`AccountsReceivableNetCurrent`	$3.58B	USD	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	99.60M	shares	Point-in-time
Receivables	`AccountsReceivableNetCurrent`	$3.72B	USD	Point-in-time
Inventories	`InventoryNet`	$3.28B	USD	Point-in-time
Inventories	`InventoryNet`	$3.24B	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$150.76M	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$161.84M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$7.16B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$7.47B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$368.45M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$351.87M	USD	Point-in-time
Goodwill	`Goodwill`	$823.95M	USD	Point-in-time
Goodwill	`Goodwill`	$838.11M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$28.54M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$23.07M	USD	Point-in-time
Operating lease assets	`OperatingLeaseRightOfUseAsset`	$265.99M	USD	Point-in-time
Operating lease assets	`OperatingLeaseRightOfUseAsset`	$257.61M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$260.92M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$289.73M	USD	Point-in-time
Total assets	`Assets`	$8.93B	USD	Point-in-time
Total assets	`Assets`	$9.21B	USD	Point-in-time
Short-term debt	`DebtCurrent`	$23.08M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.47B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.40B	USD	Point-in-time
Accrued expenses and other	`AccruedLiabilitiesCurrent`	$588.34M	USD	Point-in-time
Accrued expenses and other	`AccruedLiabilitiesCurrent`	$572.46M	USD	Point-in-time
Short-term operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$58.35M	USD	Point-in-time
Short-term operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$57.26M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.11B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.06B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$1.39B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$1.19B	USD	Point-in-time
Long-term operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$230.35M	USD	Point-in-time
Long-term operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$239.84M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$332.33M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$354.83M	USD	Point-in-time
Total liabilities	`Liabilities`	$4.84B	USD	Point-in-time
Total liabilities	`Liabilities`	$5.07B	USD	Point-in-time
Commitments and contingencies (Note 7)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 7)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock $1.00 par; authorized 300,000,000 shares; issued 99,336,434 shares and 99,601,393 shares, respectively	`CommonStockValue`	$99.34M	USD	Point-in-time
Common stock $1.00 par; authorized 300,000,000 shares; issued 99,336,434 shares and 99,601,393 shares, respectively	`CommonStockValue`	$99.60M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.63B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.62B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$2.52B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$2.59B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-178.77M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-153.75M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$4.15B	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$4.08B	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$3.78B	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$3.73B	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$9.21B	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$8.93B	USD	Point-in-time

Income Statement 33 line items

Line Item	Tag	Value	Unit	Period
Sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$5.58B	USD	1 Quarter
Sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$4.72B	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$4.93B	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$4.21B	USD	1 Quarter
Gross profit	`GrossProfit`	$516.08M	USD	1 Quarter
Gross profit	`GrossProfit`	$659.69M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$486.18M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$471.16M	USD	1 Quarter
Restructuring, integration and other expenses	`RestructuringIntegrationAndOtherCharges`	$26.42M	USD	1 Quarter
Restructuring, integration and other expenses	`RestructuringIntegrationAndOtherCharges`	$5.27M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$18.50M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$168.24M	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-19.50M	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-409.00K	USD	1 Quarter
Interest and other financing expenses, net	`InterestExpense`	$22.30M	USD	1 Quarter
Interest and other financing expenses, net	`InterestExpense`	$22.84M	USD	1 Quarter
Income (loss) before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-23.30M	USD	1 Quarter
Income (loss) before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$144.99M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$33.67M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-4.41M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$111.32M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-18.89M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$1.12	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.19	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.19	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$1.10	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	98.90M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	99.65M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	98.90M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	101.12M	shares	1 Quarter
Cash dividends paid per common share	`CommonStockDividendsPerShareCashPaid`	$0.21	USD	1 Quarter
Cash dividends paid per common share	`CommonStockDividendsPerShareCashPaid`	$0.24	USD	1 Quarter
Cash dividends paid per common share	`CommonStockDividendsPerShareCashPaid`	$0.24	USD	Point-in-time

Cash Flow Statement 57 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$111.32M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-18.89M	USD	1 Quarter
Depreciation	`DepreciationNonproduction`	$21.83M	USD	1 Quarter
Depreciation	`DepreciationNonproduction`	$21.84M	USD	1 Quarter
Amortization	`AmortizationOfIntangibleAssets`	$20.12M	USD	1 Quarter
Amortization	`AmortizationOfIntangibleAssets`	$5.21M	USD	1 Quarter
Amortization of Operating Lease Assets	`AmortizationOfOperatingLeaseAssets`	$13.75M	USD	1 Quarter
Amortization of Operating Lease Assets	`AmortizationOfOperatingLeaseAssets`	$14.08M	USD	1 Quarter
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$3.26M	USD	1 Quarter
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$-6.61M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$9.18M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$4.96M	USD	1 Quarter
Impairments	`AssetImpairmentCharges`	$15.17M	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$-2.60M	USD	1 Quarter
Other, net	`OtherNoncashIncomeExpense`	$-10.90M	USD	1 Quarter
Receivables	`IncreaseDecreaseInAccountsReceivable`	$169.99M	USD	1 Quarter
Receivables	`IncreaseDecreaseInAccountsReceivable`	$7.12M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$136.43M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$73.97M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$228.74M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$85.22M	USD	1 Quarter
Accrued expenses and other, net	`IncreaseDecreaseInAccruedLiabilities`	$-32.86M	USD	1 Quarter
Accrued expenses and other, net	`IncreaseDecreaseInAccruedLiabilities`	$-37.55M	USD	1 Quarter
Net cash flows (used) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-30.97M	USD	1 Quarter
Net cash flows (used) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$122.44M	USD	1 Quarter
Borrowings under accounts receivable securitization, net	`ProceedsFromAccountsReceivableSecuritization`	$166.90M	USD	1 Quarter
Borrowings under accounts receivable securitization, net	`ProceedsFromAccountsReceivableSecuritization`	$59.30M	USD	1 Quarter
Borrowings (repayments) under senior unsecured credit facility, net	`ProceedsFromRepaymentsOfNotesPayable`	$-234.19M	USD	1 Quarter
Borrowings (repayments) under senior unsecured credit facility, net	`ProceedsFromRepaymentsOfNotesPayable`	$118.72M	USD	1 Quarter
Borrowings (repayments) under bank credit facilities and other debt, net	`ProceedsFromRepaymentsOfLinesOfCredit`	$-734.00K	USD	1 Quarter
Borrowings (repayments) under bank credit facilities and other debt, net	`ProceedsFromRepaymentsOfLinesOfCredit`	$-545.00K	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$9.57M	USD	1 Quarter
Dividends paid on common stock	`PaymentsOfDividendsCommonStock`	$23.89M	USD	1 Quarter
Dividends paid on common stock	`PaymentsOfDividendsCommonStock`	$20.76M	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-1.34M	USD	1 Quarter
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$281.00K	USD	1 Quarter
Net cash flows provided (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-88.31M	USD	1 Quarter
Net cash flows provided (used) by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$142.49M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$12.03M	USD	1 Quarter
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$20.00M	USD	1 Quarter
Acquisitions of assets and businesses	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$18.70M	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-318.00K	USD	1 Quarter
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-753.00K	USD	1 Quarter
Net cash flows used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-11.71M	USD	1 Quarter
Net cash flows used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-37.95M	USD	1 Quarter
Effect on currency exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$-401.00K	USD	1 Quarter
Effect on currency exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$9.83M	USD	1 Quarter
Increase	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$6.02M	USD	1 Quarter
Increase	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$99.41M	USD	1 Quarter
Cash and cash equivalents at beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$483.06M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$299.10M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$477.04M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$199.69M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$483.06M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$299.10M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$477.04M	USD	Point-in-time
Cash and cash equivalents at end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$199.69M	USD	Point-in-time

Stockholders Equity 23 line items

Line Item	Tag	Value	Unit	Period
Stockholders' Equity Attributable to Parent, Beginning Balance	`StockholdersEquity`	$4.15B	USD	Point-in-time
Stockholders' Equity Attributable to Parent, Beginning Balance	`StockholdersEquity`	$4.08B	USD	Point-in-time
Stockholders' Equity Attributable to Parent, Beginning Balance	`StockholdersEquity`	$3.78B	USD	Point-in-time
Stockholders' Equity Attributable to Parent, Beginning Balance	`StockholdersEquity`	$3.73B	USD	Point-in-time
Shares issued Beginning Balance	`CommonStockSharesIssued`	99.34M	shares	Point-in-time
Shares issued Beginning Balance	`CommonStockSharesIssued`	99.60M	shares	Point-in-time
Net income (loss)	`NetIncomeLoss`	$111.32M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-18.89M	USD	1 Quarter
Translation adjustments and other	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-29.04M	USD	1 Quarter
Translation adjustments and other	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$90.37M	USD	1 Quarter
Pension liability adjustment, net	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-9.62M	USD	1 Quarter
Pension liability adjustment, net	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-4.01M	USD	1 Quarter
Cash dividends	`DividendsCommonStockCash`	$23.89M	USD	1 Quarter
Cash dividends	`DividendsCommonStockCash`	$20.76M	USD	1 Quarter
Repurchases of common stock	`StockRepurchasedDuringPeriodValue`	$10.50M	USD	1 Quarter
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$5.24M	USD	1 Quarter
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$9.52M	USD	1 Quarter
Shares issued Ending Balance	`CommonStockSharesIssued`	99.34M	shares	Point-in-time
Shares issued Ending Balance	`CommonStockSharesIssued`	99.60M	shares	Point-in-time
Stockholders' Equity Attributable to Parent, Ending Balance	`StockholdersEquity`	$4.15B	USD	Point-in-time
Stockholders' Equity Attributable to Parent, Ending Balance	`StockholdersEquity`	$4.08B	USD	Point-in-time
Stockholders' Equity Attributable to Parent, Ending Balance	`StockholdersEquity`	$3.78B	USD	Point-in-time
Stockholders' Equity Attributable to Parent, Ending Balance	`StockholdersEquity`	$3.73B	USD	Point-in-time

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$111.32M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-18.89M	USD	1 Quarter
Foreign currency translation and other	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$90.37M	USD	1 Quarter
Foreign currency translation and other	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-29.04M	USD	1 Quarter
Pension adjustments, net	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-9.62M	USD	1 Quarter
Pension adjustments, net	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-4.01M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$86.29M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$81.11M	USD	1 Quarter

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