10-Q Filing

AVNET INC CIK: 8858 Q3 2015

Filing Information

Form Type	10-Q
Accession Number	`0001558370-15-000534`
Period End Date	20150331
Filing Date	20150424
Fiscal Year	2015
Fiscal Period	Q3
XBRL Instance	avt-20150328.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 67 Cash Flow Statement 59 Comprehensive Income 16

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable, current (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$95.31M	USD	Point-in-time
Allowance for doubtful accounts receivable, current (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$96.38M	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`	$960.15M	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 $95,313 and $96,382, respectively	`AccountsReceivableNetCurrent`	$5.22B	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Receivables, less allowances of $95,313 and $96,382, respectively	`AccountsReceivableNetCurrent`	$4.99B	USD	Point-in-time
Inventories	`InventoryNet`	$2.61B	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`	$2.47B	USD	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	135.84M	shares	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$211.34M	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$191.34M	USD	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	138.29M	shares	Point-in-time
Treasury Stock, shares	`TreasuryStockShares`	33,129.00	shares	Point-in-time
Treasury Stock, shares	`TreasuryStockShares`	36,836.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$8.48B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$8.95B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$535.00M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$548.43M	USD	Point-in-time
Goodwill	`Goodwill`	$1.35B	USD	Point-in-time
Goodwill	`Goodwill`	$1.26B	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$134.84M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$184.31M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$184.75M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$233.54M	USD	Point-in-time
Total assets	`Assets`	$11.26B	USD	Point-in-time
Total assets	`Assets`	$10.61B	USD	Point-in-time
Short-term debt	`DebtCurrent`	$350.28M	USD	Point-in-time
Short-term debt	`DebtCurrent`	$865.09M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.40B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.27B	USD	Point-in-time
Accrued expenses and other	`AccruedLiabilitiesCurrent`	$711.37M	USD	Point-in-time
Accrued expenses and other	`AccruedLiabilitiesCurrent`	$618.66M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.98B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.24B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$1.21B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$1.73B	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$146.78M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$172.68M	USD	Point-in-time
Total liabilities	`Liabilities`	$6.37B	USD	Point-in-time
Total liabilities	`Liabilities`	$6.11B	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 135,843,580 shares and 138,285,825 shares, respectively	`CommonStockValue`	$138.29M	USD	Point-in-time
Common stock $1.00 par; authorized 300,000,000 shares; issued 135,843,580 shares and 138,285,825 shares, respectively	`CommonStockValue`	$135.84M	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`	$3.46B	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`	$-489.69M	USD	Point-in-time
Treasury stock at cost, 33,129 shares and 36,836 shares, respectively	`TreasuryStockValue`	$675.00K	USD	Point-in-time
Treasury stock at cost, 33,129 shares and 36,836 shares, respectively	`TreasuryStockValue`	$516.00K	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$4.50B	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$4.89B	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$10.61B	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$11.26B	USD	Point-in-time

Income Statement 67 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueNet`	$20.45B	USD	3 Qtrs
Sales	`SalesRevenueNet`	$6.68B	USD	1 Quarter
Sales	`SalesRevenueNet`	$6.74B	USD	1 Quarter
Sales	`SalesRevenueNet`	$21.13B	USD	3 Qtrs
Cost of sales	`CostOfRevenue`	$5.96B	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$18.72B	USD	3 Qtrs
Cost of sales	`CostOfRevenue`	$5.88B	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$18.06B	USD	3 Qtrs
Gross profit	`GrossProfit`	$804.91M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.41B	USD	3 Qtrs
Gross profit	`GrossProfit`	$2.39B	USD	3 Qtrs
Gross profit	`GrossProfit`	$774.35M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.71B	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$593.99M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$555.15M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.74B	USD	3 Qtrs
Restructuring, integration and other expenses	`RestructuringIntegrationAndOtherCharges`	$26.08M	USD	1 Quarter
Restructuring, integration and other expenses	`RestructuringIntegrationAndOtherCharges`	$47.07M	USD	3 Qtrs
Restructuring, integration and other expenses	`RestructuringIntegrationAndOtherCharges`	$15.49M	USD	1 Quarter
Restructuring, integration and other expenses	`RestructuringIntegrationAndOtherCharges`	$66.62M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$647.20M	USD	3 Qtrs
Operating income	`OperatingIncomeLoss`	$184.84M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$203.71M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$585.40M	USD	3 Qtrs
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$-1.49M	USD	3 Qtrs
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$-8.95M	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$-15.96M	USD	3 Qtrs
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$2.51M	USD	1 Quarter
Interest expense	`InterestExpense`	$23.87M	USD	1 Quarter
Interest expense	`InterestExpense`	$25.33M	USD	1 Quarter
Interest expense	`InterestExpense`	$71.94M	USD	3 Qtrs
Interest expense	`InterestExpense`	$80.53M	USD	3 Qtrs
Gain on legal settlement (Note 6)	`GainLossRelatedToLitigationSettlement`	$22.10M	USD	3 Qtrs
Gain on legal settlement (Note 6)	`GainLossRelatedToLitigationSettlement`	$2.96M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$559.30M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$170.90M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$525.49M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$164.99M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$166.15M	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$49.37M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$51.14M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$146.12M	USD	3 Qtrs
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$413.18M	USD	3 Qtrs
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$359.34M	USD	3 Qtrs
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$121.53M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$113.85M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.89	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.82	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$3.02	USD	3 Qtrs
Basic (in dollars per share)	`EarningsPerShareBasic`	$2.61	USD	3 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$2.97	USD	3 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$2.57	USD	3 Qtrs
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.81	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.88	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	136.97M	shares	3 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	137.84M	shares	3 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	136.05M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	138.42M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	139.18M	shares	3 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	137.72M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	140.01M	shares	3 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	140.18M	shares	1 Quarter
Cash dividends paid per common share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.16	USD	1 Quarter
Cash dividends paid per common share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.16	USD	Point-in-time
Cash dividends paid per common share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.48	USD	3 Qtrs
Cash dividends paid per common share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.45	USD	3 Qtrs
Cash dividends paid per common share (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.15	USD	1 Quarter

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$413.18M	USD	3 Qtrs
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$359.34M	USD	3 Qtrs
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$121.53M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$113.85M	USD	1 Quarter
Depreciation	`DepreciationNonproduction`	$67.39M	USD	3 Qtrs
Depreciation	`DepreciationNonproduction`	$70.92M	USD	3 Qtrs
Amortization	`AmortizationOfIntangibleAssets`	$10.60M	USD	1 Quarter
Amortization	`AmortizationOfIntangibleAssets`	$32.63M	USD	3 Qtrs
Amortization	`AmortizationOfIntangibleAssets`	$33.08M	USD	3 Qtrs
Amortization	`AmortizationOfIntangibleAssets`	$12.20M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$29.50M	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$20.85M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$33.90M	USD	3 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$48.89M	USD	3 Qtrs
Other, net	`OtherNoncashIncomeExpense`	$-57.77M	USD	3 Qtrs
Other, net	`OtherNoncashIncomeExpense`	$-54.82M	USD	3 Qtrs
Receivables	`IncreaseDecreaseInAccountsReceivable`	$55.85M	USD	3 Qtrs
Receivables	`IncreaseDecreaseInAccountsReceivable`	$186.04M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$114.26M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$89.99M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$-148.82M	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`	$-46.54M	USD	3 Qtrs
Net cash flows provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$284.55M	USD	3 Qtrs
Net cash flows provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$203.91M	USD	3 Qtrs
Repayment of notes	`RepaymentsOfUnsecuredDebt`	$300.00M	USD	3 Qtrs
Borrowings under accounts receivable securitization program, net	`ProceedsFromRepaymentsOfAccountsReceivableSecuritization`	$110.00M	USD	3 Qtrs
Borrowings under accounts receivable securitization program, net	`ProceedsFromRepaymentsOfAccountsReceivableSecuritization`	$230.00M	USD	3 Qtrs
(Repayments) borrowings of bank and other debt, net	`ProceedsFromRepaymentsOfDebt`	$56.66M	USD	3 Qtrs
(Repayments) borrowings of bank and other debt, net	`ProceedsFromRepaymentsOfDebt`	$-96.37M	USD	3 Qtrs
Repurchases of common stock (Note 9)	`PaymentsForRepurchaseOfCommonStock`	$1.25M	USD	3 Qtrs
Repurchases of common stock (Note 9)	`PaymentsForRepurchaseOfCommonStock`	$147.61M	USD	3 Qtrs
Dividends paid on common stock	`PaymentsOfDividendsCommonStock`	$21.70M	USD	Point-in-time
Dividends paid on common stock	`PaymentsOfDividendsCommonStock`	$62.01M	USD	3 Qtrs
Dividends paid on common stock	`PaymentsOfDividendsCommonStock`	$65.60M	USD	3 Qtrs
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-13.99M	USD	3 Qtrs
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$10.39M	USD	3 Qtrs
Net cash flows used for financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-213.57M	USD	3 Qtrs
Net cash flows used for financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-66.21M	USD	3 Qtrs
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$133.42M	USD	3 Qtrs
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$81.23M	USD	3 Qtrs
Acquisitions of businesses, net of cash acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$116.88M	USD	3 Qtrs
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-4.06M	USD	3 Qtrs
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$8.77M	USD	3 Qtrs
Net cash flows used for investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-142.19M	USD	3 Qtrs
Net cash flows used for investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-194.06M	USD	3 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-54.30M	USD	3 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$7.17M	USD	3 Qtrs
- increase (decrease)	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-125.50M	USD	3 Qtrs
- increase (decrease)	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-49.19M	USD	3 Qtrs
- 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`	$960.15M	USD	Point-in-time
- at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$803.47M	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`	$960.15M	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`	$359.34M	USD	3 Qtrs
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$121.53M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$113.85M	USD	1 Quarter
Foreign currency translation adjustments and other	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$14.07M	USD	1 Quarter
Foreign currency translation adjustments and other	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$122.07M	USD	3 Qtrs
Foreign currency translation adjustments and other	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-270.52M	USD	1 Quarter
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`	$-1.64M	USD	1 Quarter
Pension adjustments, net	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-4.94M	USD	3 Qtrs
Total comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$-147.20M	USD	1 Quarter
Total comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$-216.02M	USD	3 Qtrs
Total comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$486.34M	USD	3 Qtrs
Total comprehensive (loss) income	`ComprehensiveIncomeNetOfTax`	$129.56M	USD	1 Quarter

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