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AVNET, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
Of the $58.7 million in restructuring expenses recorded during fiscal 2015, $26.0million related to EM,$31.9million
related to TS and $0.8million related to Corporate business support functions. As of July 2, 2016, management expects the
majorityoftheremainingseverance,facilityexitandotherliabilitiestobeutilizedbythefirsthalfoffiscal2017.
Fiscal 2014 and prior
Duringfiscal2014andpriorfiscalyears,theCompanyincurredexpensestoreducecosts,includingcostsrelatedtothe
acquisitionandintegrationactivitiesassociatedwithacquiredbusinessesasfollows:
Year Ended
June 28, 2014
(Thousands,
except per share
data)
Restructuringexpenses $ 65,749
Integrationcosts 20,455
Othercostsincludingacquisitioncosts 8,767
Changesinestimatesforprioryearrestructuringliabilities (348)
Restructuring,integrationandotherexpensesbeforetax $ 94,623
Restructuring,integrationandotherexpensesaftertax $ 70,773
Restructuring,integrationandotherexpensespershareonadilutedbasis $ 0.50
Ofthe $65.7 million inrestructuringexpensesrecordedduringfiscal2014and prior, $41.3millionrelatedtoEM,$23.1
millionrelatedtoTSand$1.3millionrelatedtoCorporatebusinesssupportfunctions.
AsofJune27,2015,therewas$11.8millionofrestructuringliabilitiesremainingrelatedtorestructuringactionstakenin
fiscal years 2014 and prior, the majority of which relates to facility exit costs. The remaining balance for such historical
restructuringliabilitiesasofJuly2,2016was$4.0million,whichisexpectedtobepaidbytheendoffiscal2017.
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