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TableofContents
AVNET, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
June 27, 2015. Interest on borrowingsis calculated using a base rate or a commercial paper rateplus a spread of 0.38%. The
facilityfeeis0.38%.
Aggregatedebtmaturitiesforthenextfivefiscalyearsandthereafterareasfollows(inthousands):
 
2017  $1,152,599
2018 1,058
2019 437
2020 450,056
2021 —
Thereafter 900,000
Subtotal  2,504,150
Discountanddebtissuancecosts  (12,347)
Totaldebt $2,491,803
AtJuly2,2016,thecarryingvalueandfairvalueoftheCompany’sdebtwas$2.49billionand$2.59billion,respectively.
AtJune27,2015,thecarryingvalueandfairvalueoftheCompany’sdebtwas$1.98billionand$2.04billion,respectively.For
the N otes, fair value was estimated based upon quoted market prices and for other debt instruments fair value approximates
carryingvalueduetothemarketbasedvariablenatureoftheinterestratesonthoseobligations.
8. Accrued expenses and other
Accruedexpensesandotherconsistofthefollowing:
 July 2, 2016  June 27, 2015
(Thousands)
Accruedsalariesandbenefits  $ 258,588  $ 295,642
Accruedoperatingcosts 70,170  71,441
Accruedinterestandbankingcosts 24,089  22,354
Accruedrestructuringcosts(Note17) 26,042  26,302
Accruedincometaxes 43,232  27,816
Accruedproperty,plantandequipment 13,723  13,915
Accruedother 120,269 145,659
Totalaccruedexpensesandother $ 556,113 $ 603,129
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