Avnet (AVT) 10-Q 31 Oct 24 2025 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	3 Months Ended
	Sep. 28, 2024	Oct. 25, 2024
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 28, 2024
Document Transition Report	false
Securities Act File Number	1-4224
Entity Registrant Name	AVNET, INC.
Entity Incorporation, State or Country Code	NY
Entity Tax Identification Number	11-1890605
Entity Address, Address Line One	2211 South 47th Street
Entity Address, City or Town	Phoenix
Entity Address, State or Province	AZ
Entity Address, Postal Zip Code	85034
City Area Code	480
Local Phone Number	643-2000
Title of 12(b) Security	Common stock, par value $1.00 per share
Trading Symbol	AVT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		86,940,948
Entity Central Index Key	0000008858
Current Fiscal Year End Date	--06-28
Amendment Flag	false
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q1

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 28, 2024	Jun. 29, 2024
Current assets:
Cash and cash equivalents	$ 267,521	$ 310,941
Receivables	4,575,854	4,391,187
Inventories	5,614,102	5,468,730
Prepaid and other current assets	221,767	199,694
Total current assets	10,679,244	10,370,552
Property, plant and equipment, net	584,119	568,169
Goodwill	818,858	780,984
Operating lease assets	211,736	208,971
Other assets	303,607	280,471
Total assets	12,597,564	12,209,147
Current liabilities:
Short-term debt	524,055	492,711
Accounts payable	3,588,033	3,345,510
Accrued expenses and other	580,257	573,055
Operating Lease, Liability, Current	55,538	53,993
Total current liabilities	4,747,883	4,465,269
Long-term debt	2,430,730	2,406,629
Operating Lease, Liability, Noncurrent	175,330	173,886
Other liabilities	205,886	237,859
Total liabilities	7,559,829	7,283,643
Commitments and contingencies (Note 6)
Shareholders' equity:
Common stock $1.00 par; authorized 300,000,000 shares; issued 87,253,739 shares and 89,045,996 shares, respectively	87,254	89,046
Additional paid-in capital	1,736,027	1,721,369
Retained earnings	3,533,854	3,601,812
Accumulated other comprehensive loss	(319,400)	(486,723)
Total shareholders' equity	5,037,735	4,925,504
Total liabilities and shareholders' equity	$ 12,597,564	$ 12,209,147

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 28, 2024	Jun. 29, 2024
Stockholders' equity:
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares, issued	87,253,739	89,045,996

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 28, 2024	Sep. 30, 2023
Income Statement [Abstract]
Sales	$ 5,604,152	$ 6,335,648
Revenue from Contract with Customer, Product and Service [Extensible Enumeration]	us-gaap:TechnologyServiceMember	us-gaap:TechnologyServiceMember
Cost of sales	$ 4,996,785	$ 5,587,542
Cost, Product and Service [Extensible Enumeration]	us-gaap:TechnologyServiceMember	us-gaap:TechnologyServiceMember
Gross profit	$ 607,367	$ 748,106
Selling, general and administrative expenses	438,791	487,286
Restructuring, integration and other expenses	26,351	7,051
Operating income	142,225	253,769
Other (expense) income, net	(3,043)	5,960
Interest and other financing expenses, net	(64,444)	(70,796)
Gain on legal settlements and other		86,499
Income before taxes	74,738	275,432
Income tax expense	15,782	66,164
Net income	$ 58,956	$ 209,268
Earnings per share:
Basic	$ 0.67	$ 2.29
Diluted	$ 0.66	$ 2.25
Shares used to compute earnings per share:
Basic	88,092	91,495
Diluted	89,392	93,178
Cash dividends paid per common share	$ 0.33	$ 0.31

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Sep. 28, 2024	Sep. 30, 2023
Net income	$ 58,956	$ 209,268
Other comprehensive loss, net of tax:
Pension adjustments	1,100	1,467
Total other comprehensive (loss) income, net of tax	167,323	(93,761)
Total comprehensive income, net of tax	226,279	115,507
Foreign Exchange Forward
Other comprehensive loss, net of tax:
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax	185,833	(107,036)
Cross-Currency Swap
Other comprehensive loss, net of tax:
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax	$ (19,610)	$ 11,808

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive (Loss) Income	Total
Stockholders' Equity Attributable to Parent, Beginning Balance at Jul. 01, 2023	$ 91,504	$ 1,691,334	$ 3,378,212	$ (409,381)	$ 4,751,669
Shares issued Beginning Balance at Jul. 01, 2023	91,504,000
Net income			209,268		209,268
Other comprehensive income (loss)				(93,761)	(93,761)
Cash dividends			(28,320)		(28,320)
Repurchases of common stock	$ (559)		(26,484)		(27,043)
Repurchase of common stock (in shares)	(559,000)
Stock-based compensation	$ 39	10,731			10,770
Stock-based compensation (in shares)	39,000
Shares issued Ending Balance at Sep. 30, 2023	90,984,000
Stockholders' Equity Attributable to Parent, Ending Balance at Sep. 30, 2023	$ 90,984	1,702,065	3,532,676	(503,142)	4,822,583
Stockholders' Equity Attributable to Parent, Beginning Balance at Jun. 29, 2024	$ 89,046	1,721,369	3,601,812	(486,723)	$ 4,925,504
Shares issued Beginning Balance at Jun. 29, 2024	89,046,000				89,045,996
Net income			58,956		$ 58,956
Other comprehensive income (loss)				167,323	167,323
Cash dividends			(28,861)		(28,861)
Repurchases of common stock	$ (1,888)		(98,053)		(99,941)
Repurchase of common stock (in shares)	(1,888,000)
Stock-based compensation	$ 96	14,658			$ 14,754
Stock-based compensation (in shares)	96,000
Shares issued Ending Balance at Sep. 28, 2024	87,254,000				87,253,739
Stockholders' Equity Attributable to Parent, Ending Balance at Sep. 28, 2024	$ 87,254	$ 1,736,027	$ 3,533,854	$ (319,400)	$ 5,037,735

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Sep. 28, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net income	$ 58,956	$ 209,268
Non-cash and other reconciling items:
Depreciation, Depletion and Amortization, Nonproduction	19,883	21,517
Amortization of Operating Lease Assets	13,926	13,271
Deferred income taxes	(17,572)	5,575
Stock-based compensation	10,987	9,355
Other, net	19,337	(20,171)
Changes in (net of effects from businesses acquired and divested):
Receivables	(94,393)	30,190
Inventories	(29,230)	(371,604)
Accounts payable	213,610	111,489
Accrued expenses and other, net	(89,179)	(50,184)
Net cash flows provided by (used for) operating activities	106,325	(41,294)
Cash flows from financing activities:
Borrowings (repayments) under accounts receivable securitization, net	27,900	(92,100)
(Repayments) borrowings under senior unsecured credit facility, net	(11,353)	243,613
Repayments under bank credit facilities and other debt, net	(824)	(133)
Repurchases of common stock	(99,995)	(24,324)
Dividends paid on common stock	(28,861)	(28,320)
Other, net	3,766	1,414
Net cash flows (used for) provided by financing activities	(109,367)	100,150
Cash flows from investing activities:
Purchases of property, plant and equipment	(31,776)	(76,089)
Other, net	330	300
Net cash flows used for investing activities	(31,446)	(75,789)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations	(8,932)	7,382
Cash and cash equivalents:
decrease	(43,420)	(9,551)
Cash and cash equivalents at beginning of year	310,941	288,230
Cash and cash equivalents at end of year	$ 267,521	$ 278,679

Basis of presentation and new a

Basis of presentation and new accounting pronouncements	3 Months Ended
	Sep. 28, 2024
Basis of presentation and new accounting pronouncements
Basis of presentation and new accounting pronouncements	1. Basis of presentation and new accounting pronouncements In the opinion of management, the accompanying unaudited interim consolidated financial statements contain all adjustments necessary to present fairly Avnet, Inc. and its consolidated subsidiaries’ (collectively, the “Company” or “Avnet”) financial position, results of operations, comprehensive income, and cash flows. All such adjustments are of a normal recurring nature. Certain reclassifications have been made to fiscal 2024 balances to correspond to the fiscal 2025 consolidated financial statement presentation. ​ Preparing financial statements in accordance with generally accepted accounting principles in the United States (“GAAP”) requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements. Actual results may differ from these estimates and assumptions. Interim results of operations do not necessarily indicate the results to be expected for the full fiscal year. The information included in this Form 10-Q should be read in conjunction with the consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 29, 2024. Recently issued accounting pronouncements In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Tax Disclosures In November 2023, the FASB issued ASU No. 2023-07, Segment reporting (Topic 280): Improvements to Reportable Segment Disclosures

Working capital

Working capital	3 Months Ended
	Sep. 28, 2024
Working capital
Working capital	2. Working capital Receivables The Company’s receivables and allowance for credit losses were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 28, ​ June 29, ​ ​ 2024 ​ 2024 ​ ​ (Thousands) Receivables ​ $ 4,688,102 ​ $ 4,499,691 Allowance for Credit Losses ​ $ (112,248) ​ $ (108,504) ​ The Company had the following activity in the allowance for credit losses during the first quarters of fiscal 2025 and fiscal 2024: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 28, ​ September 30, ​ ​ 2024 ​ 2023 ​ ​ (Thousands) Balance at beginning of the period ​ $ 108,504 ​ $ 112,843 Credit Loss Provisions ​ ​ 1,552 ​ ​ 4,157 Credit Loss Recoveries ​ ​ 10 ​ ​ (364) Receivables Write Offs ​ ​ (1,170) ​ ​ (959) Foreign Currency Effect and Other ​ ​ 3,352 ​ ​ (2,188) Balance at end of the period ​ $ 112,248 ​ $ 113,489 ​ ​ Inventories The Company’s inventories are primarily comprised of electronic components purchased from the Company’s suppliers, which are available for sale to customers in the normal course of the Company’s electronic component distribution business. Classified within inventories are electronic components held for supply chain service engagements (components) where the Company is acting as an agent on behalf of a customer or in some cases the component supplier. Given that these supply chain services involve purchasing, warehousing and providing logistics services for components as part of the services, the Company classifies the underlying components within inventories on the consolidated balance sheets. Components held for supply chain services where the Company is acting as an agent represented approximately 6% of inventories as of September 28, 2024, and approximately 7% of inventories as of June 29, 2024.

Goodwill

Goodwill	3 Months Ended
	Sep. 28, 2024
Goodwill
Goodwill and intangible assets	3. Goodwill The following table presents the change in goodwill by reportable segment for the first quarter ended September 28, 2024. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Electronic ​ ​ ​ ​ ​ Components ​ Farnell ​ Total ​ ​ (Thousands) Carrying value at June 29, 2024 (1) ​ $ 295,957 ​ $ 485,027 ​ $ 780,984 Foreign currency translation ​ 8,111 ​ 29,763 ​ 37,874 Carrying value at September 28, 2024 (1) ​ $ 304,068 ​ $ 514,790 ​ $ 818,858 (1) Includes accumulated impairments of $1,482,677 from prior fiscal years.

Debt

Debt	3 Months Ended
	Sep. 28, 2024
Debt
Debt	4. Debt Short-term debt consists of the following (carrying balances in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 28, ​ June 29, ​ September 28, ​ June 29, ​ ​ ​ 2024 2024 2024 2024 ​ ​ ​ Interest Rate ​ Carrying Balance Revolving credit facilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts receivable securitization program (due December 2024) ​ 5.70 % ​ 6.19 % ​ $ 443,000 ​ $ 415,100 ​ Other short-term debt ​ 4.62 % ​ 5.43 % ​ ​ 81,055 ​ ​ 77,611 ​ Short-term debt ​ ​ ​ ​ ​ ​ ​ $ 524,055 ​ $ 492,711 ​ ​ The Company has a trade accounts receivable securitization program (the “Securitization Program”) in the United States with a group of financial institutions. The Securitization Program allows the Company to transfer, on an ongoing revolving basis, an undivided interest in a designated pool of trade accounts receivable, to provide security or collateral for borrowings of up to $700 million. The Securitization Program does not qualify for off balance sheet accounting treatment and any borrowings under the Securitization Program are recorded as debt in the consolidated balance sheets. Under the Securitization Program, the Company legally sells and isolates certain U.S. trade accounts receivable into a wholly owned and consolidated bankruptcy remote special purpose entity. Such receivables, which are recorded within “Receivables” in the consolidated balance sheets, totaled $1.01 billion and $1.05 billion at September 28, 2024, and June 29, 2024, respectively. The Securitization Program contains certain covenants relating to the quality of the receivables sold. ​ Other short-term debt consists of various committed and uncommitted lines of credit and other forms of bank debt with financial institutions utilized primarily to support the ongoing working capital requirements of the Company, including its foreign operations. ​ Long-term debt consists of the following (carrying balances in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 28, ​ June 29, ​ September 28, ​ June 29, ​ ​ ​ 2024 2024 2024 2024 ​ ​ ​ Interest Rate ​ Carrying Balance Revolving credit facilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Credit Facility (due August 2027) ​ 5.05 % ​ 5.05 % ​ $ 768,612 ​ $ 745,480 ​ Other long-term debt ​ 4.74 % ​ 4.74 % ​ ​ 23,059 ​ ​ 22,748 ​ Public notes due: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ April 2026 ​ 4.63 % ​ 4.63 % ​ ​ 550,000 ​ ​ 550,000 ​ May 2031 ​ 3.00 % ​ 3.00 % ​ ​ 300,000 ​ ​ 300,000 ​ June 2032 ​ 5.50 % ​ 5.50 % ​ ​ 300,000 ​ ​ 300,000 ​ March 2028 ​ 6.25 % ​ 6.25 % ​ 500,000 ​ 500,000 ​ Long-term debt before discount and debt issuance costs ​ ​ ​ ​ ​ ​ ​ 2,441,671 ​ 2,418,228 ​ Discount and debt issuance costs – unamortized ​ ​ ​ ​ ​ ​ ​ (10,941) ​ (11,599) ​ Long-term debt ​ ​ ​ ​ ​ ​ ​ $ 2,430,730 ​ $ 2,406,629 ​ ​ The Company has a five-year $1.50 billion revolving credit facility (the “Credit Facility”) with a syndicate of banks, which expires in August 2027. It consists of revolving credit facilities and the issuance of up to $200.0 million of letters of credit and up to $300.0 million of loans in certain approved currencies. As of September 28, 2024, and June 29, 2024, there were $0.9 million in letters of credit issued under the Credit Facility. Under the Credit Facility, the Company may select from various interest rate options, currencies, and maturities. The Credit Facility contains certain covenants, including various limitations on debt incurrence, share repurchases, dividends, investments, and capital expenditures. The Credit Facility also includes a financial covenant requiring the Company to maintain a leverage ratio not to exceed a certain threshold, which the Company was in compliance with as of September 28, 2024, and June 29, 2024. ​ As of September 28, 2024, the carrying value and fair value of the Company’s total debt was $2.95 billion. At June 29, 2024, the carrying value and fair value of the Company’s total debt was $2.90 billion and $2.85 billion, respectively. Fair value for public notes was estimated based on quoted market prices (Level 1) and, for other forms of debt, fair value approximates carrying value due to the market based variable nature of the interest rates on those debt facilities (Level 2).

Derivative financial instrument

Derivative financial instruments	3 Months Ended
	Sep. 28, 2024
Derivative financial instruments
Derivative financial instruments	5. Derivative financial instruments Many of the Company’s subsidiaries purchase and sell products in currencies other than their functional currencies, which subjects the Company to the risks associated with fluctuations in currency exchange rates. This foreign currency exposure relates primarily to international transactions where the currency collected from customers can be different from the currency used to purchase from suppliers. The Company’s transactions are denominated primarily in the following currencies: U.S. Dollar, Euro, British Pound, Japanese Yen, Chinese Yuan, Taiwan Dollar, Canadian Dollar, and Mexican Peso. The Company also, to a lesser extent, has foreign operations transactions in other EMEA and Asian foreign currencies. ​ The Company uses economic hedges to reduce this risk utilizing natural hedging ( i.e. ​ The Company has a fixed-to-fixed rate cross currency swap (the “cross-currency swap”) with a notional amount of $500.0 million, or €472.6 million, that is set to mature in March 2028. The Company designated this derivative contract as a net investment hedge of its European operations and elected the spot method for measuring hedge effectiveness. Changes in fair value of the cross-currency swap is presented in “Accumulated other comprehensive loss” in the consolidated balance sheets. Amounts related to the cross-currency swap recognized directly in net income represent net periodic interest settlements and accruals, which are recognized in “Interest and other financing expenses, net,” on the consolidated statements of operations. The fair value of the cross-currency swaps is based on Level 2 criteria under the ASC 820 fair value hierarchy. ​ The Company uses these derivative financial instruments to manage risks associated with foreign currency exchange rates and interest rates. The Company does not enter derivative financial instruments for trading or speculative purposes and monitors the financial stability and credit standing of its counterparties. ​ The locations and fair values of the Company’s derivative financial instruments in the Company’s consolidated balance sheets are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 28, June 29, ​ ​ 2024 ​ 2024 ​ ​ (Thousands) Economic hedges ​ ​ ​ ​ ​ ​ Prepaid and other current assets ​ $ 11,990 ​ $ 12,116 Accrued expenses and other ​ $ 17,073 ​ $ 16,957 Cross-currency swap ​ ​ ​ ​ ​ ​ Other liabilities ​ $ 35,851 ​ $ 16,241 ​ The locations of derivative financial instruments on the Company’s consolidated statements of operations are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ First Quarters Ended ​ ​ ​ September 28, September 30, ​ ​ ​ 2024 ​ 2023 ​ ​ ​ (Thousands) Economic hedges Other (expense) income, net ​ $ 24,037 ​ $ (2,103) Cross currency swap Interest and other financing expense, net ​ $ 701 ​ $ 1,013 ​

Commitments and contingencies

Commitments and contingencies	3 Months Ended
	Sep. 28, 2024
Commitments and contingencies
Commitments and contingencies	6. Commitments and contingencies From time to time, the Company may become a party to, or be otherwise involved in, various lawsuits, claims, investigations, and other legal proceedings arising in the ordinary course of conducting its business. While litigation is subject to inherent uncertainties, management does not anticipate that any such matters will have a material adverse effect on the Company’s financial condition, liquidity, or results of operations. ​ The Company is also currently subject to various pending and potential legal matters and investigations relating to compliance with governmental laws and regulations. For certain of these matters, it is not possible to determine the ultimate outcome, and the Company cannot reasonably estimate the maximum potential exposure or the range of possible loss, particularly regarding matters in early stages. The Company currently believes that the resolution of such matters will not have a material adverse effect on the Company’s financial position or liquidity but could possibly be material to its results of operations in any single reporting period. ​ As of September 28, 2024, and June 29, 2024, the Company had aggregate estimated liabilities of $13.7 million and $17.2 million, respectively, classified within accrued expenses and other for such compliance-related matters that were reasonably estimable as of such dates. ​ Gain on Legal Settlements and Other During the first quarter of fiscal 2024, the Company recorded a gain on legal settlements and other of $86.5 million in connection with the settlements of claims filed against certain manufacturers of capacitors, which was also realized in cash that same quarter. ​

Income taxes

Income taxes	3 Months Ended
	Sep. 28, 2024
Income taxes
Income taxes	7 . Income taxes The below discussion of the effective tax rate for the periods presented in the consolidated statements of operations is in comparison to the 21% U.S. statutory federal income tax rate. ​ The Company’s effective tax rate on its income before taxes was 21.1% in the first quarter of fiscal 2025. During the first quarter of fiscal 2025, the Company’s effective tax rate was unfavorably impacted primarily by (i) increases to unrecognized tax benefit reserves and audit settlements, (ii) the mix of income in higher tax jurisdictions, and (iii) increases to valuation allowances, partially offset by (iv) increases in tax attribute carryforwards. ​ During the first quarter of fiscal 2024, the Company’s effective tax rate on its income before taxes was 24.0%. During the first quarter of fiscal 2024, the Company’s effective tax rate was unfavorably impacted primarily by (i) increases to unrecognized tax benefit reserves net of settlements, (ii) U.S. state taxes, and (iii) the mix of income in higher tax jurisdictions. ​ The Pillar Two rules published by the Organization for Economic Co-operation and Development (OECD) are effective for the Company in fiscal year 2025. The company does not expect Pillar Two taxes to have a significant impact on its income tax expense and is closely monitoring the potential impacts of further legislation, regulatory guidance, and regulations issued in the countries in which the Company does business. ​

Pension plan

Pension plan	3 Months Ended
	Sep. 28, 2024
Pension and retirement plan
Pension and retirement plans	8. Pension plan The Company has a noncontributory defined benefit pension plan that covers substantially all current and some former U.S. employees (the “Plan”). Components of net periodic pension cost for the Plan was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ First Quarters Ended ​ September 28, September 30, ​ ​ 2024 2023 ​ ​ (Thousands) Service cost within selling, general and administrative expenses ​ $ 2,870 ​ $ 2,563 ​ ​ ​ ​ ​ ​ ​ Interest cost ​ 6,183 ​ 6,145 Expected return on plan assets ​ (10,438) ​ (9,985) Amortization of prior service cost ​ 1 ​ 1 Recognized net actuarial loss ​ 1,285 ​ 56 Total net periodic pension benefit within other (expense) income, net ​ ​ (2,969) ​ ​ (3,783) ​ ​ ​ ​ ​ ​ ​ Net periodic pension benefit ​ $ (99) ​ $ (1,220) ​ ​ The Company made $4.0 million of contributions during the first quarter of fiscal 2025 and expects to make additional contributions to the Plan of $4.0 million in the remainder of fiscal 2025.

Shareholders' equity

Shareholders' equity	3 Months Ended
	Sep. 28, 2024
Shareholders' equity
Shareholders' equity	9. Shareholders’ equity Share repurchase program In August 2024, the Company’s Board of Directors approved an increase in the Company’s existing share repurchase plan. With this increase, the Company is authorized to repurchase up to an aggregate of $600 million of common stock. During the first quarter of fiscal 2025, the Company repurchased 1.9 million shares for a total cost of $99.0 million, excluding excise tax. As of September 28, 2024, the Company had $566.6 million remaining under its increased share repurchase authorization. ​ Common stock dividend In August 2024, the Company’s Board of Directors approved a dividend of $0.33 per common share and dividend payments of $28.9 million were made in September 2024.

Earnings per share

Earnings per share	3 Months Ended
	Sep. 28, 2024
Earnings Per Share [Abstract]
Earnings per share	10. Earnings per share ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ First Quarters Ended ​ September 28, ​ September 30, ​ ​ 2024 2023 ​ ​ (Thousands, except per share data) Numerator: ​ ​ ​ ​ ​ Net income ​ $ 58,956 ​ $ 209,268 ​ ​ ​ ​ ​ ​ ​ Denominator: ​ ​ ​ ​ ​ ​ Weighted average common shares for basic earnings per share ​ 88,092 ​ 91,495 Net effect of dilutive stock-based compensation awards ​ 1,300 ​ 1,683 Weighted average common shares for diluted earnings per share ​ 89,392 ​ 93,178 Basic earnings per share ​ $ 0.67 ​ $ 2.29 Diluted earnings per share ​ $ 0.66 ​ $ 2.25 Stock options excluded from earnings per share calculation due to an anti-dilutive effect ​ ​ — ​ ​ 122 ​ ​ ​

Additional cash flow informatio

Additional cash flow information	3 Months Ended
	Sep. 28, 2024
Additional cash flow information
Additional cash flow information	11. Additional cash flow information Non-cash investing and financing activities and supplemental cash flow information were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ First Quarters Ended ​ September 28, September 30, ​ ​ 2024 ​ 2023 ​ ​ (Thousands) Non-cash Investing Activities: ​ ​ ​ ​ ​ ​ Capital expenditures incurred but not paid ​ $ 15,514 ​ $ 13,967 Non-cash Financing Activities: ​ ​ ​ ​ ​ ​ Unsettled share repurchases ​ $ 1,011 ​ $ 2,718 Supplemental Cash Flow Information: ​ ​ ​ ​ ​ ​ Interest ​ $ 71,856 ​ $ 81,446 Income tax payments, net ​ $ 75,716 ​ $ 78,357 ​ Included in cash and cash equivalents as of September 28, 2024, and June 29, 2024, was $21.3 million and $14.1 million, respectively, of cash equivalents, which was primarily comprised of investment grade money market funds and overnight time deposits.

Segment information

Segment information	3 Months Ended
	Sep. 28, 2024
Segment information
Segment information	12. Segment information Electronic Components (“EC”) and Farnell (“Farnell”) are the Company’s reportable segments (“operating groups”). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ First Quarters Ended ​ ​ September 28, ​ September 30, ​ ​ 2024 2023 ​ (Thousands) Sales ​ ​ Electronic Components ​ $ 5,257,058 ​ $ 5,914,405 Farnell ​ ​ 347,094 ​ ​ 421,243 ​ ​ ​ 5,604,152 ​ ​ 6,335,648 Operating income: ​ ​ ​ ​ ​ ​ Electronic Components ​ $ 197,369 ​ $ 272,751 Farnell ​ ​ 1,859 ​ ​ 17,671 ​ ​ ​ 199,228 ​ ​ 290,422 Corporate expenses ​ ​ (30,284) ​ ​ (28,724) Restructuring, integration, and other expenses ​ (26,351) ​ (7,051) Amortization of acquired intangible assets ​ ​ (368) ​ ​ (878) Operating income ​ $ 142,225 ​ $ 253,769 ​ ​ ​ ​ ​ ​ ​ Sales, by geographic area: ​ ​ ​ ​ ​ ​ Americas ​ $ 1,329,884 ​ $ 1,573,521 EMEA ​ 1,668,169 ​ 2,308,051 Asia ​ 2,606,099 ​ 2,454,076 Sales ​ $ 5,604,152 ​ $ 6,335,648 ​

Restructuring expenses

Restructuring expenses	3 Months Ended
	Sep. 28, 2024
Restructuring expenses
Restructuring expenses	13. Restructuring expenses Fiscal 2025 During fiscal 2025, the Company executed certain restructuring actions to reduce future operating expenses including specific restructuring actions to reduce expenses within the Farnell operating group. The following table presents the activity during the first quarter of fiscal 2025 related to the restructuring liabilities established during fiscal 2025: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Facility Asset ​ ​ ​ Severance Exit Costs Impairments Total ​ ​ (Thousands) Fiscal 2025 restructuring expenses ​ $ 3,353 ​ $ 5,228 ​ $ 14,904 ​ $ 23,485 Cash payments ​ (1,684) ​ ​ (5,217) ​ ​ — ​ ​ (6,901) Non-cash amounts ​ ​ — ​ ​ (11) ​ ​ (14,904) ​ ​ (14,915) Other, principally foreign currency translation ​ ​ 30 ​ ​ — ​ ​ — ​ ​ 30 Balance at September 28, 2024 ​ $ 1,699 ​ $ — ​ $ — ​ $ 1,699 ​ Severance expense recorded in the first quarter of fiscal 2025 related to the reduction, or planned reduction, of approximately 40 employees, primarily in operations, distribution centers, and business support functions. Of the $23.5 million in restructuring expenses recorded in the first quarter of fiscal 2025, $2.7 million related to EC, and $20.8 million related to Farnell. The Company expects the majority of the remaining amounts to be paid by the end of 2024. ​ Fiscal 2024 During fiscal 2024, the Company incurred restructuring expenses primarily related to headcount reductions including from the planned closure of certain distribution centers intended to reduce future operating expenses. The Company expects the majority of the remaining amounts to be paid by the end of fiscal 2025. The following table presents the activity during the first quarter of fiscal 2025 related to the remaining restructuring liabilities established during fiscal 2024: ​ ​ ​ ​ ​ ​ ​ ​ ​ Severance ​ ​ (Thousands) Balance at June 29, 2024 ​ $ 23,838 Cash payments ​ (7,023) Changes in estimates, net ​ (127) Other, principally foreign currency translation ​ 40 Balance at September 28, 2024 ​ $ 16,728 ​

Basis of presentation and new_2

Basis of presentation and new accounting pronouncements (Policies)	3 Months Ended
	Sep. 28, 2024
Basis of presentation and new accounting pronouncements
Basis of presentation	In the opinion of management, the accompanying unaudited interim consolidated financial statements contain all adjustments necessary to present fairly Avnet, Inc. and its consolidated subsidiaries’ (collectively, the “Company” or “Avnet”) financial position, results of operations, comprehensive income, and cash flows. All such adjustments are of a normal recurring nature. Certain reclassifications have been made to fiscal 2024 balances to correspond to the fiscal 2025 consolidated financial statement presentation. ​ Preparing financial statements in accordance with generally accepted accounting principles in the United States (“GAAP”) requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements. Actual results may differ from these estimates and assumptions. Interim results of operations do not necessarily indicate the results to be expected for the full fiscal year. The information included in this Form 10-Q should be read in conjunction with the consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 29, 2024.
New accounting pronouncements	Recently issued accounting pronouncements In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Tax Disclosures In November 2023, the FASB issued ASU No. 2023-07, Segment reporting (Topic 280): Improvements to Reportable Segment Disclosures

Working capital (Tables)

Working capital (Tables)	3 Months Ended
	Sep. 28, 2024
Working capital
Schedule of receivables and allowance for credit losses	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 28, ​ June 29, ​ ​ 2024 ​ 2024 ​ ​ (Thousands) Receivables ​ $ 4,688,102 ​ $ 4,499,691 Allowance for Credit Losses ​ $ (112,248) ​ $ (108,504) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 28, ​ September 30, ​ ​ 2024 ​ 2023 ​ ​ (Thousands) Balance at beginning of the period ​ $ 108,504 ​ $ 112,843 Credit Loss Provisions ​ ​ 1,552 ​ ​ 4,157 Credit Loss Recoveries ​ ​ 10 ​ ​ (364) Receivables Write Offs ​ ​ (1,170) ​ ​ (959) Foreign Currency Effect and Other ​ ​ 3,352 ​ ​ (2,188) Balance at end of the period ​ $ 112,248 ​ $ 113,489

Goodwill (Tables)

Goodwill (Tables)	3 Months Ended
	Sep. 28, 2024
Goodwill
Change in goodwill balances by reportable segment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Electronic ​ ​ ​ ​ ​ Components ​ Farnell ​ Total ​ ​ (Thousands) Carrying value at June 29, 2024 (1) ​ $ 295,957 ​ $ 485,027 ​ $ 780,984 Foreign currency translation ​ 8,111 ​ 29,763 ​ 37,874 Carrying value at September 28, 2024 (1) ​ $ 304,068 ​ $ 514,790 ​ $ 818,858 (1) Includes accumulated impairments of $1,482,677 from prior fiscal years.

Debt (Tables)

Debt (Tables)	3 Months Ended
	Sep. 28, 2024
Debt
Short-term debt	Short-term debt consists of the following (carrying balances in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 28, ​ June 29, ​ September 28, ​ June 29, ​ ​ ​ 2024 2024 2024 2024 ​ ​ ​ Interest Rate ​ Carrying Balance Revolving credit facilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts receivable securitization program (due December 2024) ​ 5.70 % ​ 6.19 % ​ $ 443,000 ​ $ 415,100 ​ Other short-term debt ​ 4.62 % ​ 5.43 % ​ ​ 81,055 ​ ​ 77,611 ​ Short-term debt ​ ​ ​ ​ ​ ​ ​ $ 524,055 ​ $ 492,711 ​
Long-term debt	Long-term debt consists of the following (carrying balances in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 28, ​ June 29, ​ September 28, ​ June 29, ​ ​ ​ 2024 2024 2024 2024 ​ ​ ​ Interest Rate ​ Carrying Balance Revolving credit facilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Credit Facility (due August 2027) ​ 5.05 % ​ 5.05 % ​ $ 768,612 ​ $ 745,480 ​ Other long-term debt ​ 4.74 % ​ 4.74 % ​ ​ 23,059 ​ ​ 22,748 ​ Public notes due: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ April 2026 ​ 4.63 % ​ 4.63 % ​ ​ 550,000 ​ ​ 550,000 ​ May 2031 ​ 3.00 % ​ 3.00 % ​ ​ 300,000 ​ ​ 300,000 ​ June 2032 ​ 5.50 % ​ 5.50 % ​ ​ 300,000 ​ ​ 300,000 ​ March 2028 ​ 6.25 % ​ 6.25 % ​ 500,000 ​ 500,000 ​ Long-term debt before discount and debt issuance costs ​ ​ ​ ​ ​ ​ ​ 2,441,671 ​ 2,418,228 ​ Discount and debt issuance costs – unamortized ​ ​ ​ ​ ​ ​ ​ (10,941) ​ (11,599) ​ Long-term debt ​ ​ ​ ​ ​ ​ ​ $ 2,430,730 ​ $ 2,406,629 ​

Derivative financial instrume_2

Derivative financial instruments (Tables)	3 Months Ended
	Sep. 28, 2024
Derivative financial instruments
Schedule of derivative instruments in the balance sheet	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 28, June 29, ​ ​ 2024 ​ 2024 ​ ​ (Thousands) Economic hedges ​ ​ ​ ​ ​ ​ Prepaid and other current assets ​ $ 11,990 ​ $ 12,116 Accrued expenses and other ​ $ 17,073 ​ $ 16,957 Cross-currency swap ​ ​ ​ ​ ​ ​ Other liabilities ​ $ 35,851 ​ $ 16,241
Schedule of gain (loss) on derivatives	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ First Quarters Ended ​ ​ ​ September 28, September 30, ​ ​ ​ 2024 ​ 2023 ​ ​ ​ (Thousands) Economic hedges Other (expense) income, net ​ $ 24,037 ​ $ (2,103) Cross currency swap Interest and other financing expense, net ​ $ 701 ​ $ 1,013 ​

Pension plan (Tables)

Pension plan (Tables)	3 Months Ended
	Sep. 28, 2024
Pension and retirement plan
Components of net periodic pension costs	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ First Quarters Ended ​ September 28, September 30, ​ ​ 2024 2023 ​ ​ (Thousands) Service cost within selling, general and administrative expenses ​ $ 2,870 ​ $ 2,563 ​ ​ ​ ​ ​ ​ ​ Interest cost ​ 6,183 ​ 6,145 Expected return on plan assets ​ (10,438) ​ (9,985) Amortization of prior service cost ​ 1 ​ 1 Recognized net actuarial loss ​ 1,285 ​ 56 Total net periodic pension benefit within other (expense) income, net ​ ​ (2,969) ​ ​ (3,783) ​ ​ ​ ​ ​ ​ ​ Net periodic pension benefit ​ $ (99) ​ $ (1,220) ​

Earnings per share (Tables)

Earnings per share (Tables)	3 Months Ended
	Sep. 28, 2024
Earnings Per Share [Abstract]
Basic and diluted earnings per share calculation	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ First Quarters Ended ​ September 28, ​ September 30, ​ ​ 2024 2023 ​ ​ (Thousands, except per share data) Numerator: ​ ​ ​ ​ ​ Net income ​ $ 58,956 ​ $ 209,268 ​ ​ ​ ​ ​ ​ ​ Denominator: ​ ​ ​ ​ ​ ​ Weighted average common shares for basic earnings per share ​ 88,092 ​ 91,495 Net effect of dilutive stock-based compensation awards ​ 1,300 ​ 1,683 Weighted average common shares for diluted earnings per share ​ 89,392 ​ 93,178 Basic earnings per share ​ $ 0.67 ​ $ 2.29 Diluted earnings per share ​ $ 0.66 ​ $ 2.25 Stock options excluded from earnings per share calculation due to an anti-dilutive effect ​ ​ — ​ ​ 122

Additional cash flow informat_2

Additional cash flow information (Tables)	3 Months Ended
	Sep. 28, 2024
Additional cash flow information
Interest and income taxes paid	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ First Quarters Ended ​ September 28, September 30, ​ ​ 2024 ​ 2023 ​ ​ (Thousands) Non-cash Investing Activities: ​ ​ ​ ​ ​ ​ Capital expenditures incurred but not paid ​ $ 15,514 ​ $ 13,967 Non-cash Financing Activities: ​ ​ ​ ​ ​ ​ Unsettled share repurchases ​ $ 1,011 ​ $ 2,718 Supplemental Cash Flow Information: ​ ​ ​ ​ ​ ​ Interest ​ $ 71,856 ​ $ 81,446 Income tax payments, net ​ $ 75,716 ​ $ 78,357

Segment information (Tables)

Segment information (Tables)	3 Months Ended
	Sep. 28, 2024
Segment information
Table of the reportable segments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ First Quarters Ended ​ ​ September 28, ​ September 30, ​ ​ 2024 2023 ​ (Thousands) Sales ​ ​ Electronic Components ​ $ 5,257,058 ​ $ 5,914,405 Farnell ​ ​ 347,094 ​ ​ 421,243 ​ ​ ​ 5,604,152 ​ ​ 6,335,648 Operating income: ​ ​ ​ ​ ​ ​ Electronic Components ​ $ 197,369 ​ $ 272,751 Farnell ​ ​ 1,859 ​ ​ 17,671 ​ ​ ​ 199,228 ​ ​ 290,422 Corporate expenses ​ ​ (30,284) ​ ​ (28,724) Restructuring, integration, and other expenses ​ (26,351) ​ (7,051) Amortization of acquired intangible assets ​ ​ (368) ​ ​ (878) Operating income ​ $ 142,225 ​ $ 253,769 ​ ​ ​ ​ ​ ​ ​ Sales, by geographic area: ​ ​ ​ ​ ​ ​ Americas ​ $ 1,329,884 ​ $ 1,573,521 EMEA ​ 1,668,169 ​ 2,308,051 Asia ​ 2,606,099 ​ 2,454,076 Sales ​ $ 5,604,152 ​ $ 6,335,648 ​

Restructuring expenses (Tables)

Restructuring expenses (Tables)	3 Months Ended
	Sep. 28, 2024
Fiscal Year 2025 Restructuring Liabilities Member
Restructuring Cost and Reserve [Line Items]
Activity related to the restructuring reserves	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Facility Asset ​ ​ ​ Severance Exit Costs Impairments Total ​ ​ (Thousands) Fiscal 2025 restructuring expenses ​ $ 3,353 ​ $ 5,228 ​ $ 14,904 ​ $ 23,485 Cash payments ​ (1,684) ​ ​ (5,217) ​ ​ — ​ ​ (6,901) Non-cash amounts ​ ​ — ​ ​ (11) ​ ​ (14,904) ​ ​ (14,915) Other, principally foreign currency translation ​ ​ 30 ​ ​ — ​ ​ — ​ ​ 30 Balance at September 28, 2024 ​ $ 1,699 ​ $ — ​ $ — ​ $ 1,699
Fiscal Year 2024 Restructuring Liabilities
Restructuring Cost and Reserve [Line Items]
Activity related to the restructuring reserves	​ ​ ​ ​ ​ ​ ​ ​ ​ Severance ​ ​ (Thousands) Balance at June 29, 2024 ​ $ 23,838 Cash payments ​ (7,023) Changes in estimates, net ​ (127) Other, principally foreign currency translation ​ 40 Balance at September 28, 2024 ​ $ 16,728 ​

Working capital - Receivables (

Working capital - Receivables (Details) - USD ($) $ in Thousands	Sep. 28, 2024	Jun. 29, 2024	Sep. 30, 2023	Jul. 01, 2023
Working capital
Receivables	$ 4,688,102	$ 4,499,691
Allowance for Credit Losses	$ (112,248)	$ (108,504)	$ (113,489)	$ (112,843)

Working capital - Allowance for

Working capital - Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 28, 2024	Sep. 30, 2023
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Receivables, Allowance for Credit Loss, Beginning Balance	$ 108,504	$ 112,843
Credit Loss Provisions	1,552	4,157
Credit Loss Recoveries	10	(364)
Receivables Write Offs	(1,170)	(959)
Foreign Currency Effect and Other	3,352	(2,188)
Receivables, Allowance for Credit Loss, Ending Balance	$ 112,248	$ 113,489

Working Capital - Inventory (De

Working Capital - Inventory (Details)	3 Months Ended	12 Months Ended
	Sep. 28, 2024	Jun. 29, 2024
Working capital
Inventory held for supply chain services	6%	7%

Goodwill (Details)

Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 28, 2024	Jun. 29, 2024
Carrying amount of goodwill, by reportable segment
Carrying value	$ 780,984
Foreign currency translation	37,874
Carrying value	818,858
Accumulated Impairment		$ 1,482,677
Electronic Components
Carrying amount of goodwill, by reportable segment
Carrying value	295,957
Foreign currency translation	8,111
Carrying value	304,068
Farnell
Carrying amount of goodwill, by reportable segment
Carrying value	485,027
Foreign currency translation	29,763
Carrying value	$ 514,790

Debt - short-term debt (Details

Debt - short-term debt (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Sep. 28, 2024	Jun. 29, 2024
Components of short-term debt
Short-term debt	$ 524,055	$ 492,711
Other Short -Term Debt
Components of short-term debt
Short-term Debt, Weighted Average Interest Rate	4.62%	5.43%
Short-term debt	$ 81,055	$ 77,611
Revolving credit facilities | Accounts receivable securitization program
Components of short-term debt
Short-term Debt, Weighted Average Interest Rate		6.19%
stated interest rate	5.70%
Short-term debt	$ 443,000	$ 415,100

Debt - long-term debt (Details)

Debt - long-term debt (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Sep. 28, 2024	Jun. 29, 2024
Debt Instrument [Line Items]
Long-term debt before discount and debt issuance costs	$ 2,441,671	$ 2,418,228
Discount and debt issuance costs - unamortized	(10,941)	(11,599)
Long-term debt	$ 2,430,730	$ 2,406,629
Other long-term debt
Debt Instrument [Line Items]
Long-term debt, stated interest rate	4.74%	4.74%
Long-term debt before discount and debt issuance costs	$ 23,059	$ 22,748
Revolving credit facilities | Accounts receivable securitization program
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	700,000
Revolving credit facilities | Line of credit
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 1,500,000
Long-term Debt, Weighted Average Interest Rate	5.05%	5.05%
Long-term debt before discount and debt issuance costs	$ 768,612	$ 745,480
Letter of Credit | Line of credit
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 200,000
Notes due | Notes Due April 2026
Debt Instrument [Line Items]
Long-term debt, stated interest rate	4.63%	4.63%
Long-term debt before discount and debt issuance costs	$ 550,000	$ 550,000
Notes due | Notes Due May 2031
Debt Instrument [Line Items]
Long-term debt, stated interest rate	3%	3%
Long-term debt before discount and debt issuance costs	$ 300,000	$ 300,000
Notes due | Notes Due June 2032
Debt Instrument [Line Items]
Long-term debt, stated interest rate	5.50%	5.50%
Long-term debt before discount and debt issuance costs	$ 300,000	$ 300,000
Notes due | Notes Due March 2028
Debt Instrument [Line Items]
Long-term debt, stated interest rate	6.25%	6.25%
Long-term debt before discount and debt issuance costs	$ 500,000	$ 500,000

Debt (Textuals) (Details)

Debt (Textuals) (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 28, 2024	Jun. 29, 2024
Company's total debt
Debt, Long-Term and Short-Term, Combined Amount	$ 2,950	$ 2,900
Total fair value	2,950	2,850
Revolving credit facilities | Accounts receivable securitization program
Debt Instrument [Line Items]
Maximum borrowing amount	700
Accounts Receivable from Securitization	1,010	1,050
Revolving credit facilities | Line of credit
Debt Instrument [Line Items]
Maximum borrowing amount	$ 1,500
Term	5 years
Letter of Credit | Line of credit
Debt Instrument [Line Items]
Maximum borrowing amount	$ 200
Letters of credit outstanding, amount	0.9	$ 0.9
Notes Payable In Certain Approved Currencies | Line of credit
Debt Instrument [Line Items]
Maximum borrowing amount	$ 300
Notes due | Notes Due March 2028
Debt Instrument [Line Items]
stated interest rate	6.25%	6.25%

Derivative financial instrume_3

Derivative financial instruments Textuals (Details) $ in Thousands, € in Millions	3 Months Ended
	Sep. 28, 2024 USD ($)	Sep. 28, 2024 EUR (€)	Jun. 29, 2024 USD ($)
Cross-Currency Swap
Derivative notional amounts
Total notional amount	$ 500,000	€ 472.6
Minimum | Foreign Exchange Forward
Derivatives, Fair Value [Line Items]
Maximum maturity of foreign exchange contracts (less than one year)	60 days
Maximum | Foreign Exchange Forward
Derivatives, Fair Value [Line Items]
Maximum maturity of foreign exchange contracts (less than one year)	1 year
Designated as Hedging Instrument | Net Investment Hedging | Cross-Currency Swap
Derivative fair value
Derivative liabilities fair value	$ 35,851		$ 16,241
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Noncurrent	Other Liabilities, Noncurrent
Not Designated as Hedging Instrument | Foreign Exchange Forward
Derivative fair value
Derivative assets fair value	$ 11,990		$ 12,116
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Prepaid Expense and Other Assets, Current	Prepaid Expense and Other Assets, Current	Prepaid Expense and Other Assets, Current
Derivative liabilities fair value	$ 17,073		$ 16,957
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Accrued Liabilities, Current	Accrued Liabilities, Current	Accrued Liabilities, Current

Derivative financial instrume_4

Derivative financial instruments (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 28, 2024	Sep. 30, 2023
Designated as Hedging Instrument | Net Investment Hedging | Cross-Currency Swap
Derivative [Line Items]
Interest and other financing expense, net	$ 701	$ 1,013
Not Designated as Hedging Instrument | Foreign Exchange Forward
Derivative [Line Items]
Net derivative financial instrument gain (loss)	$ 24,037	$ (2,103)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Nonoperating Income (Expense)	Other Nonoperating Income (Expense)

Commitments and contingencies (

Commitments and contingencies (Textuals) (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Sep. 28, 2024	Jun. 29, 2024
Loss Contingency, Estimate [Abstract]
Estimate of possible loss		$ 13,700	$ 17,200
Gain on legal settlements and other	$ 86,499

Income taxes (Effective Tax Rat

Income taxes (Effective Tax Rate) (Details)	3 Months Ended
	Sep. 28, 2024	Sep. 30, 2023
Reconciliation between federal statutory tax rate and effective tax rate
Effective Income Tax Rate	21.10%	24%

Pension and retirement plans (P

Pension and retirement plans (Periodic Pension Cost) (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 28, 2024	Sep. 30, 2023
Components of net periodic pension costs
Service cost within selling, general and administrative expenses	$ 2,870	$ 2,563
Interest cost	6,183	6,145
Expected return on plan assets	(10,438)	(9,985)
Amortization of prior service cost	1	1
Recognized net actuarial loss	1,285	56
Net periodic pension benefit	(99)	(1,220)
Other Income, net
Components of net periodic pension costs
Net periodic pension benefit	(2,969)	$ (3,783)
Plan
Components of net periodic pension costs
Contributions	4,000
Estimated future employer pension plan contributions	$ 4,000

Shareholders' equity (Share rep

Shareholders' equity (Share repurchase program textuals) (Details) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions	3 Months Ended
	Sep. 28, 2024	Sep. 30, 2023
Shareholders' equity
Authorized repurchase of common stock under Share Repurchase Program	$ 600,000
Shares repurchased during period (in shares)	1.9
Cost of repurchase	$ 99,000
Remaining authorized repurchase amount	$ 566,600
Common Stock, Dividends, Per Share, Declared	$ 0.33
Common Stock, Dividends, Per Share, Cash Paid	$ 0.33	$ 0.31
Dividends paid on common stock	$ 28,861	$ 28,320

Earnings per share (Details)

Earnings per share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 28, 2024	Sep. 30, 2023
Numerator:
Net income	$ 58,956	$ 209,268
Denominator:
Weighted average common shares for basic earnings per share	88,092	91,495
Net effect of dilutive stock based compensation awards	1,300	1,683
Weighted average common shares for diluted earnings per share	89,392	93,178
Basic earnings per share	$ 0.67	$ 2.29
Diluted earnings per share	$ 0.66	$ 2.25
Stock Options
Denominator:
antidilutive Securities		122

Additional cash flow informat_3

Additional cash flow information (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Jun. 29, 2024
Income Taxes Paid, Net [Abstract]
Capital expenditures incurred but not paid	$ 15,514	$ 13,967
Unsettled share repurchases	1,011	2,718
Interest	71,856	81,446
Income tax payments, net	75,716	$ 78,357
Cash equivalents	$ 21,300		$ 14,100

Segment information (Details)

Segment information (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Jun. 29, 2024
Sales, by segment
Sales	$ 5,604,152	$ 6,335,648
Operating income (loss):
Restructuring, integration and other expenses	(26,351)	(7,051)
Amortization of acquired intangible assets	(368)	(878)
Operating income	142,225	253,769
Assets:
Assets	12,597,564		$ 12,209,147
Depreciation & amortization expense:
Depreciation and amortization expense	19,883	21,517
Segment
Operating income (loss):
Operating income	199,228	290,422
Corporate
Operating income (loss):
Corporate Overhead Expenses	30,284	28,724
Electronic Components | Segment
Sales, by segment
Sales	5,257,058	5,914,405
Operating income (loss):
Operating income	197,369	272,751
Farnell | Segment
Sales, by segment
Sales	347,094	421,243
Operating income (loss):
Operating income	$ 1,859	$ 17,671

Segment information (Sales, by

Segment information (Sales, by geographic area) (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 28, 2024	Sep. 30, 2023
Sales, by geographic area:
Sales	$ 5,604,152	$ 6,335,648
Americas
Sales, by geographic area:
Sales	1,329,884	1,573,521
EMEA
Sales, by geographic area:
Sales	1,668,169	2,308,051
Asia
Sales, by geographic area:
Sales	$ 2,606,099	$ 2,454,076

Restructuring expenses (Details

Restructuring expenses (Details) $ in Thousands	3 Months Ended
	Sep. 28, 2024 USD ($)
Fiscal Year 2025 Restructuring Liabilities
Activity related to the restructuring reserves
Restructuring expenses	$ 23,485
Cash payments	(6,901)
Non-cash amounts	(14,915)
Other, principally foreign currency translation	30
Ending Balance	$ 1,699
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]	Restructuring Integration And Other Charges
Severance | Fiscal Year 2025 Restructuring Liabilities
Activity related to the restructuring reserves
Restructuring expenses	$ 3,353
Cash payments	(1,684)
Other, principally foreign currency translation	30
Ending Balance	1,699
Severance | Fiscal Year 2024 Restructuring Liabilities
Activity related to the restructuring reserves
Beginning Balance	23,838
Cash payments	(7,023)
Changes in estimates, net	(127)
Other, principally foreign currency translation	40
Ending Balance	16,728
Asset Impairments | Fiscal Year 2025 Restructuring Liabilities
Activity related to the restructuring reserves
Restructuring expenses	5,228
Cash payments	(5,217)
Non-cash amounts	(11)
Other Restructuring | Fiscal Year 2025 Restructuring Liabilities
Activity related to the restructuring reserves
Restructuring expenses	14,904
Non-cash amounts	$ (14,904)

Restructuring expenses (Textual

Restructuring expenses (Textuals) (Details) - Fiscal Year 2025 Restructuring Liabilities	3 Months Ended
	Sep. 28, 2024 USD ($)
Restructuring Cost and Reserve [Line Items]
Number of employee reductions under Severance charges	40
Restructuring expenses	$ 23,485,000
Restructuring Reserve	1,699,000
Electronic Components
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	2,700,000
Farnell
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	$ 20,800,000