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Table of Contents
AVNET, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
See notes to consolidated financial statements
42
June 28,
June 30,
2008
2007
(Thousands, except share
amounts)
ASSETS
Current assets:
Cash and cash equivalents
$
640,449
$
557,350
Receivables, less allowances of $76,690 and $102,121, respectively (Note 3)
3,367,443
3,103,015
Inventories
1,894,492
1,736,301
Prepaid and other current assets
68,762
92,179
Total current assets
5,971,146
5,488,845
Property, plant and equipment, net (Note 5)
227,187
179,533
Goodwill (Notes 2 and 6)
1,728,904
1,402,470
Other assets
272,893
284,271
Total assets
$
8,200,130
$
7,355,119
LIABILITIES AND SHAREHOLDERS
’
EQUITY
Current liabilities:
Borrowings due within one year (Note 7)
$
43,804
$
53,367
Accounts payable
2,293,243
2,228,017
Accrued expenses and other (Note 8)
442,545
495,601
Total current liabilities
2,779,592
2,776,985
Long
-
term debt, less due within one year (Note 7)
1,181,498
1,155,990
Other long
-
term liabilities (Note 9 and 10)
104,349
21,499
Total liabilities
4,065,439
3,954,474
Commitments and contingencies (Notes 11 and 13)
Shareholders
’
equity (Notes 4, 12 and 14):
Common stock $1.00 par; authorized 300,000,000 shares; issued 150,417,000 shares
and 149,826,000 shares, respectively
150,417
149,826
Additional paid
-
in capital
1,122,852
1,094,210
Retained earnings
2,379,723
1,880,642
Accumulated other comprehensive income (Note 4)
482,178
276,509
Treasury stock at cost, 18,286 shares and 20,018 shares, respectively
(479
)
(542
)
Total shareholders
’
equity
4,134,691
3,400,645
Total liabilities and shareholders
’
equity
$
8,200,130
$
7,355,119