10-Q Filing

AVNET INC CIK: 8858 Q2 2016

Filing Information

Form Type	10-Q
Accession Number	`0001558370-16-002994`
Period End Date	20151231
Filing Date	20160128
Fiscal Year	2016
Fiscal Period	Q2
XBRL Instance	avt-20160102.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 64 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`	$80.72M	USD	Point-in-time
Allowance for doubtful accounts receivable, current (in dollars)	`AllowanceForDoubtfulAccountsReceivableCurrent`	$69.25M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$916.09M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$903.33M	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
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Receivables, less allowances of $69,247 and $80,721, respectively	`AccountsReceivableNetCurrent`	$5.40B	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Receivables, less allowances of $69,247 and $80,721, respectively	`AccountsReceivableNetCurrent`	$5.05B	USD	Point-in-time
Inventories	`InventoryNet`	$2.65B	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`	$2.48B	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$181.07M	USD	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	131.33M	shares	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$173.03M	USD	Point-in-time
Common stock, shares, issued	`CommonStockSharesIssued`	135.50M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$9.14B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$8.64B	USD	Point-in-time
Treasury Stock, shares	`TreasuryStockShares`	29,852.00	shares	Point-in-time
Treasury Stock, shares	`TreasuryStockShares`	31,901.00	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$568.78M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$587.22M	USD	Point-in-time
Goodwill	`Goodwill`	$1.28B	USD	Point-in-time
Goodwill	`Goodwill`	$1.28B	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$91.37M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$99.73M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$210.61M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$197.97M	USD	Point-in-time
Total assets	`Assets`	$11.30B	USD	Point-in-time
Total assets	`Assets`	$10.80B	USD	Point-in-time
Short-term debt	`DebtCurrent`	$1.14B	USD	Point-in-time
Short-term debt	`DebtCurrent`	$331.12M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.63B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.34B	USD	Point-in-time
Accrued expenses and other	`AccruedLiabilitiesCurrent`	$603.13M	USD	Point-in-time
Accrued expenses and other	`AccruedLiabilitiesCurrent`	$599.01M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.36B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.27B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$1.65B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$1.07B	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$196.13M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$192.86M	USD	Point-in-time
Total liabilities	`Liabilities`	$6.11B	USD	Point-in-time
Total liabilities	`Liabilities`	$6.63B	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 131,327,636 and 135,496,472 shares, respectively	`CommonStockValue`	$135.50M	USD	Point-in-time
Common stock $1.00 par; authorized 300,000,000 shares; issued 131,327,636 and 135,496,472 shares, respectively	`CommonStockValue`	$131.33M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.45B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.41B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$3.64B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$3.58B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-545.70M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-441.04M	USD	Point-in-time
Treasury stock at cost, 29,852 and 31,901 shares, respectively	`TreasuryStockValue`	$458.00K	USD	Point-in-time
Treasury stock at cost, 29,852 and 31,901 shares, respectively	`TreasuryStockValue`	$369.00K	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$4.67B	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$4.69B	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$10.80B	USD	Point-in-time
Total liabilities and shareholders equity	`LiabilitiesAndStockholdersEquity`	$11.30B	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Sales	`SalesRevenueNet`	$13.82B	USD	2 Qtrs
Sales	`SalesRevenueNet`	$7.55B	USD	1 Quarter
Sales	`SalesRevenueNet`	$14.39B	USD	2 Qtrs
Sales	`SalesRevenueNet`	$6.85B	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$12.25B	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$6.07B	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$12.76B	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$6.71B	USD	1 Quarter
Gross profit	`GrossProfit`	$778.17M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.63B	USD	2 Qtrs
Gross profit	`GrossProfit`	$837.51M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.57B	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$530.83M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$573.96M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.09B	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$1.16B	USD	2 Qtrs
Restructuring, integration and other expenses	`RestructuringIntegrationAndOtherCharges`	$31.58M	USD	2 Qtrs
Restructuring, integration and other expenses	`RestructuringIntegrationAndOtherCharges`	$13.26M	USD	1 Quarter
Restructuring, integration and other expenses	`RestructuringIntegrationAndOtherCharges`	$47.18M	USD	2 Qtrs
Restructuring, integration and other expenses	`RestructuringIntegrationAndOtherCharges`	$21.22M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$226.12M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$250.29M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$443.48M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$433.08M	USD	2 Qtrs
Other expense, net	`OtherNonoperatingIncomeExpense`	$-5.52M	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-6.49M	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-12.34M	USD	2 Qtrs
Other expense, net	`OtherNonoperatingIncomeExpense`	$-7.02M	USD	2 Qtrs
Interest expense	`InterestExpense`	$46.02M	USD	2 Qtrs
Interest expense	`InterestExpense`	$22.42M	USD	1 Quarter
Interest expense	`InterestExpense`	$24.67M	USD	1 Quarter
Interest expense	`InterestExpense`	$48.07M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$220.10M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$197.21M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$374.71M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$388.40M	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$88.45M	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$41.20M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$96.75M	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$56.39M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$291.65M	USD	2 Qtrs
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$163.71M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$286.27M	USD	2 Qtrs
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$156.01M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$1.20	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$1.18	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$2.12	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$2.15	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$2.08	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$2.11	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$1.16	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$1.18	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	132.85M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	136.54M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	137.43M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	131.91M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	135.62M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	138.97M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	134.92M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	139.91M	shares	2 Qtrs
Cash dividends paid per common share	`CommonStockDividendsPerShareCashPaid`	$0.32	USD	2 Qtrs
Cash dividends paid per common share	`CommonStockDividendsPerShareCashPaid`	$0.34	USD	2 Qtrs
Cash dividends paid per common share	`CommonStockDividendsPerShareCashPaid`	$0.16	USD	1 Quarter
Cash dividends paid per common share	`CommonStockDividendsPerShareCashPaid`	$0.17	USD	1 Quarter

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$291.65M	USD	2 Qtrs
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$163.71M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$286.27M	USD	2 Qtrs
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$156.01M	USD	1 Quarter
Depreciation	`DepreciationNonproduction`	$47.61M	USD	2 Qtrs
Depreciation	`DepreciationNonproduction`	$46.97M	USD	2 Qtrs
Amortization	`AmortizationOfIntangibleAssets`	$21.99M	USD	2 Qtrs
Amortization	`AmortizationOfIntangibleAssets`	$10.40M	USD	1 Quarter
Amortization	`AmortizationOfIntangibleAssets`	$7.40M	USD	1 Quarter
Amortization	`AmortizationOfIntangibleAssets`	$14.31M	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$15.28M	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-708.00K	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$38.42M	USD	2 Qtrs
Stock-based compensation	`ShareBasedCompensation`	$36.13M	USD	2 Qtrs
Other, net	`OtherNoncashIncomeExpense`	$-34.52M	USD	2 Qtrs
Other, net	`OtherNoncashIncomeExpense`	$-28.60M	USD	2 Qtrs
Receivables	`IncreaseDecreaseInAccountsReceivable`	$711.06M	USD	2 Qtrs
Receivables	`IncreaseDecreaseInAccountsReceivable`	$413.15M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$197.80M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$5.96M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$583.34M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayableTrade`	$323.45M	USD	2 Qtrs
Accrued expenses and other, net	`IncreaseDecreaseInAccruedLiabilities`	$-42.75M	USD	2 Qtrs
Accrued expenses and other, net	`IncreaseDecreaseInAccruedLiabilities`	$-88.44M	USD	2 Qtrs
Net cash flows provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$84.24M	USD	2 Qtrs
Net cash flows provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$224.42M	USD	2 Qtrs
Repayment of notes	`RepaymentsOfUnsecuredDebt`	$250.00M	USD	2 Qtrs
Borrowings under accounts receivable securitization program, net	`ProceedsFromRepaymentsOfAccountsReceivableSecuritization`	$40.00M	USD	2 Qtrs
Borrowings under accounts receivable securitization program, net	`ProceedsFromRepaymentsOfAccountsReceivableSecuritization`	$77.00M	USD	2 Qtrs
Borrowings (repayments) of bank and revolving debt, net	`ProceedsFromRepaymentsOfDebt`	$-37.41M	USD	2 Qtrs
Borrowings (repayments) of bank and revolving debt, net	`ProceedsFromRepaymentsOfDebt`	$444.34M	USD	2 Qtrs
Repurchases of common stock (Note 9)	`PaymentsForRepurchaseOfCommonStock`	$109.13M	USD	2 Qtrs
Repurchases of common stock (Note 9)	`PaymentsForRepurchaseOfCommonStock`	$184.70M	USD	2 Qtrs
Dividends paid on common stock	`PaymentsOfDividendsCommonStock`	$22.40M	USD	1 Quarter
Dividends paid on common stock	`PaymentsOfDividendsCommonStock`	$43.88M	USD	2 Qtrs
Dividends paid on common stock	`PaymentsOfDividendsCommonStock`	$45.02M	USD	2 Qtrs
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-5.44M	USD	2 Qtrs
Other, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-1.08M	USD	2 Qtrs
Net cash flows provided (used) for financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-118.86M	USD	2 Qtrs
Net cash flows provided (used) for financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$3.54M	USD	2 Qtrs
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$83.64M	USD	2 Qtrs
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$74.81M	USD	2 Qtrs
Acquisitions of businesses, net of cash acquired (Note 2)	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$19.20M	USD	2 Qtrs
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$8.79M	USD	2 Qtrs
Other, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-7.74M	USD	2 Qtrs
Net cash flows used for investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-86.27M	USD	2 Qtrs
Net cash flows used for investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-92.44M	USD	2 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-17.98M	USD	2 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-38.77M	USD	2 Qtrs
(decrease)	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-25.64M	USD	2 Qtrs
(decrease)	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-16.46M	USD	2 Qtrs
at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$916.09M	USD	Point-in-time
at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$903.33M	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 end of period	`CashAndCashEquivalentsAtCarryingValue`	$916.09M	USD	Point-in-time
at end of period	`CashAndCashEquivalentsAtCarryingValue`	$903.33M	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

Comprehensive Income 16 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$291.65M	USD	2 Qtrs
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$163.71M	USD	1 Quarter
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$286.27M	USD	2 Qtrs
Net income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$156.01M	USD	1 Quarter
Foreign currency translation adjustments and other	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-68.64M	USD	1 Quarter
Foreign currency translation adjustments and other	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-108.89M	USD	2 Qtrs
Foreign currency translation adjustments and other	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-364.04M	USD	2 Qtrs
Foreign currency translation adjustments and other	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-158.30M	USD	1 Quarter
Pension adjustments, net	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-2.16M	USD	1 Quarter
Pension adjustments, net	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-3.57M	USD	2 Qtrs
Pension adjustments, net	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-4.22M	USD	2 Qtrs
Pension adjustments, net	`OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax`	$-1.78M	USD	1 Quarter
Total comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$89.53M	USD	1 Quarter
Total comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$181.60M	USD	2 Qtrs
Total comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$7.19M	USD	1 Quarter
Total comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-68.81M	USD	2 Qtrs

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