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Table of Contents
AVNET, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
4. Comprehensive income (loss)
The following table illustrates the accumulated balances of comprehensive income items at July 2, 2011, July 3, 2010 and
June 27, 2009:
5. Property, plant and equipment, net
Property, plant and equipment are recorded at cost and consist of the following:
Depreciation and amortization expense related to property, plant and equipment was $57,516,000, $49,692,000 and $50,653,000
in fiscal 2011, 2010 and 2009, respectively. In addition, the Company recognized other charges of $1,968,000 pre-
tax, $1,413,000
after tax and $0.01 per share on a diluted basis primarily related to an impairment of buildings in EMEA (see Notes 2 and 6 for other
amounts included in “Gain on bargain purchase and other”).
6. Goodwill and intangible assets
The following table presents the carrying amount of goodwill, by reportable segment, for the periods presented:
The goodwill additions are a result of the Bell acquisition as well as other businesses that were acquired during fiscal 2011 (see
Note 2). The Unidux acquisition resulted in $30,990,000 of negative goodwill which was included in
“
Gain on bargain purchase and
other” on the consolidated statement of operations (see Notes 2 and 5 for other amounts included in “
Gain on bargain purchase and
other”).
The adjustments to goodwill resulted from the write off of goodwill as a result of the sale of ProSys (see Note 2) and the
recognition of intangible assets associated with an acquisition completed during fiscal 2011 (see Intangible assets in this Note 6).
51
July 2,
July 3,
June 27,
2011
2010
2009
(Thousands)
Accumulated translation adjustments, net
$
461,213
$
131,329
$
290,846
Accumulated pension liability adjustments, net of income taxes
(84,002
)
(103,967
)
(72,752
)
Total
$
377,211
$
27,362
$
218,094
July 2,
July 3,
2011
2010
(Thousands)
Land
$
22,467
$
20,697
Buildings
112,072
102,875
Machinery, fixtures and equipment
805,093
663,915
Leasehold improvements
92,728
56,686
1,032,360
844,173
Less
—
accumulated depreciation and amortization
(613,187
)
(541,590
)
$
419,173
$
302,583
Electronics
Technology
Marketing
Solutions
Total
(Thousands)
Carrying value at July 3, 2010
$
242,626
$
323,683
$
566,309
Additions
100,356
244,173
344,529
Adjustments
—
(
53,565
)
(53,565
)
Foreign currency translation
9,888
17,911
27,799
Carrying value at July 2, 2011
$
352,870
$
532,202
$
885,072