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Table of Contents
AVNET, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
See notes to consolidated financial statements
41
June 27,
June 28,
2009
2008
(Thousands, except share
amounts)
ASSETS
Current assets:
Cash and cash equivalents
$
943,921
$
640,449
Receivables, less allowances of $85,477 and $76,690, respectively (Note 3)
2,618,697
3,367,443
Inventories
1,411,755
1,894,492
Prepaid and other current assets
169,879
68,762
Total current assets
5,144,252
5,971,146
Property, plant and equipment, net (Note 5)
305,682
227,187
Goodwill (Notes 2 and 6)
550,118
1,728,904
Other assets
273,464
272,893
Total assets
$
6,273,516
$
8,200,130
LIABILITIES AND SHAREHOLDERS
’
EQUITY
Current liabilities:
Borrowings due within one year (Note 7)
$
23,294
$
43,804
Accounts payable
1,957,993
2,293,243
Accrued expenses and other (Note 8)
474,573
442,545
Total current liabilities
2,455,860
2,779,592
Long
-
term debt, less due within one year (Note 7)
946,573
1,181,498
Other long
term liabilities (Note 9 and 10)
110,226
104,349
Total liabilities
3,512,659
4,065,439
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 151,099,000 shares
and 150,417,000 shares, respectively
151,099
150,417
Additional paid
in capital
1,135,334
1,122,852
Retained earnings
1,257,261
2,379,723
Accumulated other comprehensive income (Note 4)
218,094
482,178
Treasury stock at cost, 32,306 shares and 18,286 shares, respectively
(931
(479
Total shareholders
’
equity
2,760,857
4,134,691
Total liabilities and shareholders
equity
$
6,273,516
$
8,200,130