Avnet 2011 Annual Report Download - page 72

Table of Contents
AVNET, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
15. Additional cash flow information
Other non-cash and reconciling items consist of the following:
Interest and income taxes paid during the last three years were as follows:
Non-
cash activity during fiscal 2011 included amounts recorded through comprehensive income and, therefore, are not included
in the consolidated statement of cash flows. Fiscal 2011 included an adjustment to pension liabilities (including non-
U.S. pension
liabilities) of $31,987,000 which was recorded net of related deferred tax benefit of $12,022,000 in other comprehensive income (see
Notes 4 and 10). Other non
-
cash activities included assumed debt of $420,259,000 and assumed liabilities of $509,812,000 as a result
of the acquisitions completed in fiscal 2011 (see Note 2).
Non-
cash activity during fiscal 2010 included amounts recorded through comprehensive income and, therefore, are not included
in the consolidated statement of cash flows. Fiscal 2010 included an adjustment to increase pension liabilities (including non-
U.S.
pension liabilities) of $50,502,000 which was recorded net of related deferred tax benefit of $19,287,000 in other comprehensive
income (see Notes 4 and 10). Other non-
cash activities included assumed debt of $5,858,000 and assumed liabilities of $35,913,000 as
a result of the acquisitions completed in fiscal 2010 (see Note 2).
Non-
cash activity during fiscal 2009 included amounts recorded through comprehensive income and, therefore, are not included
in the consolidated statement of cash flows. Fiscal 2009 included an adjustment to increase pension liabilities (including non-
U.S.
pension liabilities) of $42,948,000 which was recorded net of related deferred tax benefit of $16,767,000 in other comprehensive
income (see Notes 4 and 10). Other non-
cash activities included assumed debt of $146,831,000 and assumed liabilities of
$261,434,000 as a result of the acquisitions completed in fiscal 2009 (see Note 2).
16. Segment information
Electronics Marketing and Technology Solutions are the overall segments upon which management primarily evaluates the
operations of the Company and upon which management bases its operating decisions. Therefore, the segment data that follows
reflects these two segments.
EM markets and sells semiconductors and interconnect, passive and electromechanical devices and embedded products. EM
markets and sells its products and services to a diverse customer base serving many end-
markets including automotive,
communications, computer hardware and peripheral, industrial and manufacturing, medical equipment, military and aerospace. EM
also offers an array of value-added services that help customers evaluate, design-
in and procure electronic components throughout the
lifecycle of their technology products and systems, including supply-
chain management, engineering design, inventory replenishment
systems, connector and cable assembly and semiconductor programming.
66
Years Ended
July 2,
July 3,
June 27,
2011 2010 2009
(Thousands)
Provision for doubtful accounts
$
39,255
$
33,825
$
32,777
Periodic pension (income) costs (Note 10)
17,295
(13,586
)
10,166
Other, net
296
(4,854
)
(4,529
)
Total
$
56,846
$
15,385
$
38,414
Years Ended
July 2,
July 3,
June 27,
2011
2010
2009
(Thousands)
Interest
$
91,946
$
60,556
$
66,895
Income taxes
$
158,372
$
92,565
$
126,010