Avnet 2008 Annual Report Download - page 16

Download and view the complete annual report

Please find page 16 of the 2008 Avnet annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 96

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96

Table of Contents
allocated among potentially responsible parties based upon each party’s relative contribution to the contamination,
and other factors.
Pursuant to SEC regulations, including but not limited to Item 103 of Regulation S-K, the Company regularly
assesses the status of and developments in pending environmental legal proceedings to determine whether any such
proceedings should be identified specifically in this discussion of legal proceedings, and has concluded that no
particular pending environmental legal proceeding requires public disclosure. Based on the information known to
date, management believes that the Company has appropriately accrued in its consolidated financial statements for its
share of the estimated costs associated with the environmental clean up of sites in which the Company is
participating.
The Company and/or its subsidiaries are also parties to various other legal proceedings arising from time to time
in the normal course of business. While litigation is subject to inherent uncertainties, management currently believes
that the ultimate outcome of these proceedings, individually and in the aggregate, will not have a material adverse
effect on the Company’s financial position, cash flow or results of operations.
Not applicable.
13
Item 4.
Submission of Matters to a Vote of Security Holders