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Table of Contents
SCHEDULE II
AVNET, INC. AND SUBSIDIARIES
VALUATION AND QUALIFYING ACCOUNTS
Years Ended June 28, 2008, June 30, 2007 and July 1, 2006
78
Column A
Column B
Column C
Column D
Column E
Additions
Balance at
Charged to
Charged to
Balance at
Beginning
Costs and
Other Accounts —
Deductions —
End of
Description
of Period
Expenses
Describe
Describe
Period
(Thousands)
Fiscal 2008
Allowance for doubtful accounts
$
102,121
$
12,315
$
1,351
(a)
$
(39,097
)(b)
$
76,690
Valuation allowance on foreign tax loss
carryforwards (Note 9)
346,947
14,463
—
(
17,376
)(c)
344,034
FY04 Restructuring reserves
3,571
—
(
1,000
)(d)
2,571
(d)
Fiscal 2007
Allowance for doubtful accounts
88,983
17,389
23,311
(a)
(27,562
)(b)
102,121
Valuation allowance on foreign tax loss
carryforwards (Note 9)
270,745
7,205
100,618
(e)
(31,621
)(f)
346,947
FY04 Restructuring reserves
6,698
—
(
3,127
)(d)
3,571
Fiscal 2006
Allowance for doubtful accounts
85,079
30,737
11,503
(a)
(38,336
)(b)
88,983
Valuation allowance on foreign tax loss
carryforwards (Note 9)
191,983
1,170
77,592
(g)
—
270,745
FY04 Restructuring reserves
12,358
—
(
5,660
)(d)
6,698
(a)
Includes allowance for doubtful accounts as a result of acquisitions (see Note 2).
(b)
Uncollectible accounts written off.
(c) Includes the impact of deferred tax rate changes, the translation impact of changes in foreign currency exchange
rates, the release of valuation allowance on operating tax loss carryforwards recorded to goodwill and the release
of valuation allowance against the associated deferred tax benefit as it was determined the operating tax loss
carryforwards cannot be utilized.
(d) Deductions for restructuring related activities included cash payments of $1.3 million, $2.7 million and
$5.3 million in fiscal 2008, 2007 and 2006, respectively. In addition to the translation impact of changes in
foreign currency exchange rates, deductions also included adjustments to release reserves deemed excessive of
$0.2 million, $0.7 million, and $0.5 million in fiscal 2008, 2007 and 2006, respectively. Activity associated with
fiscal 2008, 2007 and 2006 restructuring reserves is presented in Note 17.
(e)
Includes a valuation allowance established against a deferred tax asset recognized in fiscal 2007.
(f) Includes the release of valuation allowances against operating tax loss carryforwards which were realized in
fiscal 2007.
(g) Includes certain valuation allowances acquired as a result of the Memec acquisition (see Note 2) and additional
valuation allowances associated with legal entity reorganizations of certain foreign operations.