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AVNET, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
ThefollowingtablepresentstheCompany’sacquiredidentifiableintangibleassets:
July 2, 2016 June 27, 2015
Acquired Accumulated Net Book
Acquired Accumulated Net Book
Amount Amortization Value Amount Amortization Value
(Thousands)
Customerrelated $ 211,169 $ (142,994) $ 68,175 $ 276,921 $ (190,593) $ 86,328
Tradename 4,875 (2,731) 2,144 6,240 (3,792) 2,448
Other 12,356 (4,278) 8,078 12,309 (1,354) 10,955
$ 228,400 $ (150,003)$ 78,397 $ 295,470 $ (195,739)$ 99,731
Intangibleassetamortizationexpensewas$28.1million,$51.7millionand $44.7millionforfiscal2016,2015and2014
respectively.Includedinfiscal2015amortizationexpensewas$8.5millionofacceleratedamortizationforthereductioninuseful
livesofcertainintangibleassetsasaresultofrestructuringactionsdiscussedfurtherinNote17.Intangibleassetshaveaweighted
averageremaininglifeofapproximately4yearsasofJuly2,2016.Thefollowingtablepresentstheestimatedfutureamortization
expenseforthenextfivefiscalyearsandthereafter(inthousands):
Fiscal Year
2017 26,897
2018 14,719
2019 13,277
2020 11,505
2021 7,132
Thereafter 4,867
Total $ 78,397
7. Debt
Short-termdebtconsistsofthefollowing:
July 2, 2016 June 27, 2015 July 2, 2016June 27, 2015
Interest Rate Carrying Balance
Bankcreditfacilitiesandother 4.62 % 5.54 % $ 122,599 $ 81,115
Accountsreceivablesecuritizationprogram 0.93 % — 730,000 —
NotesdueSeptember2015 — 6.00 % — 250,000
NotesdueSeptember2016 6.63 % — 300,000 —
Short-termdebt $ 1,152,599 $ 331,115
Bankcreditfacilitiesandotherconsistofvariouscommittedanduncommittedlinesofcreditandotherformsofbankdebt
with financial institutions utilized primarily to support the working capital requirements of the Company including its foreign
operations.
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