← AVNET INC
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | |||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
| Net Income (Loss) Attributable to Parent | $506.5m | $525.3m | ($156.4m) | $176.3m | ($31.1m) | $193.1m | $692.4m | $770.8m | $498.7m | $240.2m | |
| Net Income (Loss) Available to Common Stockholders, Basic | $506.5m | $525.3m | ($156.4m) | $176.3m | ($31.1m) | $193.1m | $692.4m | $770.8m | $498.7m | $240.2m | |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations | ($6.2m) | $23.3m | $1.4m | ($1.9m) | ($19.7m) | $6.9m | ($34.0m) | $5.0m | ($8.0m) | ($12.4m) | |
| Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | — | $263.4m | ($142.9m) | $180.1m | ($29.5m) | — | — | — | — | — | |
| Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | — | $261.9m | ($13.5m) | ($3.8m) | ($1.5m) | — | — | — | — | — | |
| Amortization of Intangible Assets | $28.1m | $54.0m | $91.5m | $83.7m | $81.1m | $41.0m | $15.0m | $6.0m | — | — | |
| Amortization of Operating Lease Assets | — | — | — | — | $60.7m | $56.8m | $52.9m | $54.4m | $53.8m | $53.6m | |
| Depreciation and amortization | $126.5m | $155.4m | $234.9m | $180.8m | $182.2m | $131.9m | $102.3m | $88.6m | $86.7m | $71.6m | |
| Depreciation, Depletion and Amortization, Nonproduction | — | — | — | — | — | — | $102.3m | $88.6m | $86.7m | $71.6m | |
| Depreciation, Nonproduction | $98.4m | $101.4m | $143.4m | $97.2m | $101.1m | $90.9m | $87.4m | $82.6m | $83.6m | $70.2m | |
| Deferred Income Tax Expense (Benefit) | $15.1m | ($18.2m) | ($68.8m) | ($6.7m) | ($12.1m) | $25.5m | ($53.0m) | ($33.5m) | ($16.0m) | ($99.6m) | |
| Deferred income taxes | $122.7m | ($17.7m) | ($87.1m) | $33.8m | ($34.3m) | $14.7m | ($52.5m) | ($37.1m) | ($9.7m) | ($105.4m) | |
| Goodwill and Intangible Asset Impairment | — | — | — | — | $144.1m | — | — | — | — | — | |
| Goodwill, Impairment Loss | $0 | $0 | $181.4m | $137.4m | $118.7m | — | — | — | — | — | |
| Restructuring Costs and Asset Impairment Charges | — | — | — | $54.7m | — | — | — | — | — | — | |
| Share-based Payment Arrangement, Expense | $56.9m | $53.9m | $24.0m | $30.1m | $26.8m | $29.3m | $36.7m | $38.8m | $33.5m | $36.4m | |
| Share-based Payment Arrangement, Noncash Expense | $56.9m | $47.7m | $24.0m | $30.1m | $26.8m | $29.3m | $36.7m | $38.8m | $33.5m | $36.4m | |
| Income Tax Expense (Benefit) | $164.0m | $47.1m | $288.0m | $62.2m | ($98.6m) | ($20.2m) | $141.0m | $212.0m | $133.6m | $10.4m | |
| Interest Expense Nonoperating | — | — | — | — | — | — | — | — | — | $246.4m | |
| Other Nonoperating Income (Expense) | ($18.1m) | ($44.3m) | $17.1m | $11.2m | ($737k) | ($19.0m) | ($5.3m) | $9.9m | ($15.7m) | ($17.3m) | |
| Changes in operating assets and liabilities: | |||||||||||
| Additional Financial Items | |||||||||||
| (Repayments) borrowings under senior unsecured credit facility, net | $101.2m | ($50.0m) | $8.8m | ($61.7m) | $223.1m | ($231.7m) | — | $728.2m | ($43.3m) | ($357.3m) | |
| (decrease) increase | $98.9m | ($195.1m) | ($215.3m) | ($75.0m) | ($69.1m) | ($277.3m) | ($46.0m) | $134.5m | $22.7m | ($118.5m) | |
| Accounts payable | ($114.3m) | $163.6m | $409.6m | ($377.9m) | ($107.0m) | $621.0m | $1.1b | ($75.9m) | $4.5m | $101.7m | |
| Accrued expenses and other, net | ($180.3m) | ($132.9m) | $189.1m | ($173.7m) | ($46.2m) | $30.9m | $134.4m | $28.8m | ($258.3m) | ($292.6m) | |
| Borrowings (repayments) under accounts receivable securitization, net | $80.0m | ($588.0m) | ($37.0m) | $122.3m | ($227.3m) | $22.9m | $274.9m | $258.0m | ($140.7m) | $84.9m | |
| Financing Receivable, Credit Loss, Expense (Reversal) | — | — | — | — | — | — | — | $16.8m | $12.6m | $3.5m | |
| Gain (Loss) Related to Litigation Settlement | — | — | — | — | — | — | — | $74.4m | — | — | |
| Goodwill | $1.3b | $1.1b | $980.9m | $876.7m | $773.7m | $838.1m | $758.8m | $780.6m | $781.0m | $837.0m | |
| Increase (Decrease) in Accounts Receivable | ($25.6m) | $371.8m | $296.2m | ($465.0m) | ($221.5m) | $615.4m | $1.1b | $461.1m | ($316.2m) | ($183.5m) | |
| Increase (Decrease) in Inventories | $367.7m | ($84.4m) | $308.7m | ($81.9m) | ($266.8m) | $409.1m | $1.2b | $1.2b | $51.2m | ($409.6m) | |
| Inventories | ($367.7m) | $84.4m | ($308.7m) | $81.9m | $266.8m | ($409.1m) | ($1.2b) | ($1.2b) | ($51.2m) | $409.6m | |
| Issuance of notes, net of discounts | $541.5m | $296.4m | — | — | — | $297.7m | $300.0m | $498.6m | — | — | |
| Other, net | $14.7m | $18.7m | $6.7m | $30.4m | ($10.0m) | $7.5m | $9.8m | ($16.9m) | $994k | $10.3m | |
| Pension Cost (Reversal of Cost) | $31.9m | $10.1m | $26.1m | ($4.3m) | $4.2m | $5.4m | ($3.4m) | $30.4m | ($663k) | $2.1m | |
| Proceeds from Stock Options Exercised | — | — | $9.2m | $20.2m | $900k | $4.9m | $5.7m | — | — | — | |
| Receivables | $25.6m | ($371.8m) | ($296.2m) | $465.0m | $221.5m | ($615.4m) | ($1.1b) | ($461.1m) | $316.2m | $183.5m | |
| Stock-based compensation | $56.9m | $47.7m | $24.0m | $30.1m | $26.8m | $29.3m | $36.7m | $38.8m | $33.5m | $36.4m | |
| Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement | — | — | — | — | — | — | — | ($37.4m) | — | — | |
| Derivative, Gain (Loss) on Derivative, Net | — | $8.6m | $2.7m | $84k | $12.7m | ($21.6m) | ($37.3m) | — | — | — | |
| Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | — | $222.4m | — | — | — | — | — | — | — | — | |
| Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, Net of Tax | — | $39.6m | — | — | — | — | — | — | — | — | |
| Net Cash Provided by (Used in) Operating Activities | $224.3m | ($368.7m) | $253.5m | $534.8m | $730.2m | $90.9m | ($219.3m) | ($713.7m) | $690.0m | $724.5m | |
| Cash flows from investing activities: | |||||||||||
| Payments to Acquire Property, Plant, and Equipment | $147.5m | $120.4m | $155.9m | $122.7m | $73.5m | $50.4m | $48.9m | $194.7m | $226.5m | $147.5m | |
| Payments to Acquire Businesses, Net of Cash Acquired | $19.7m | $802.7m | $15.3m | $56.4m | $51.5m | $18.4m | — | — | — | — | |
| Payments for (Proceeds from) Other Investing Activities | ($14.7m) | ($18.7m) | ($6.7m) | ($30.4m) | $10.0m | ($7.5m) | ($9.8m) | $16.9m | ($994k) | ($10.3m) | |
| Net cash flows used for investing activities | ($152.5m) | $1.3b | $71.7m | ($25.2m) | ($135.0m) | ($61.2m) | $51.3m | ($211.6m) | ($225.5m) | ($137.1m) | |
| Net Cash Provided by (Used in) Investing Activities | ($152.5m) | $1.3b | $71.7m | ($25.2m) | ($135.0m) | ($61.2m) | $51.3m | ($211.6m) | ($225.5m) | ($137.1m) | |
| Cash flows from financing activities: | |||||||||||
| (Repayments) borrowings under bank credit facilities and other debt, net | $18.7m | $27.9m | ($98.0m) | $505k | ($2.1m) | ($2.8m) | $235.0m | ($96.2m) | $27.5m | ($2.5m) | |
| Payments for Repurchase of Common Stock | $380.9m | $275.9m | $323.5m | $568.7m | $237.8m | — | $184.4m | $221.7m | $162.7m | $303.5m | |
| Payments of Ordinary Dividends, Common Stock | $88.6m | $88.7m | $88.3m | $87.2m | $84.0m | $84.3m | $98.5m | $106.3m | $112.0m | $113.3m | |
| Repurchases of common stock | ($380.9m) | ($275.9m) | ($323.5m) | ($568.7m) | ($237.8m) | — | ($184.4m) | ($221.7m) | ($162.7m) | ($303.5m) | |
| Dividends paid on common stock | ($89) | ($89) | ($88) | ($87) | ($84) | ($84) | ($98) | ($106) | ($112) | ($113) | |
| Proceeds from (Payments for) Other Financing Activities | ($11.4m) | ($1.9m) | ($4.0m) | $12.1m | ($14.3m) | ($10.7m) | ($16.7m) | ($5.8m) | ($2.6m) | ($1.9m) | |
| Net cash flows used for financing activities | $33.4m | ($1.2b) | ($541.9m) | ($582.7m) | ($644.5m) | ($314.0m) | $156.1m | $1.1b | ($433.8m) | ($693.5m) | |
| Net Cash Provided by (Used in) Financing Activities | $33.4m | ($1.2b) | ($541.9m) | ($582.7m) | ($644.5m) | ($314.0m) | $156.1m | $1.1b | ($433.8m) | ($693.5m) | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | ($6.2m) | $23.3m | ($215.3m) | ($75.0m) | ($69.1m) | ($277.3m) | ($46.0m) | $134.5m | $22.7m | ($118.5m) | |
| Cash and cash equivalents at beginning of year | $1.0b | $836.4m | $621.1m | $546.1m | $477.0m | $199.7m | $153.7m | $288.2m | $310.9m | $192.4m | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | ($6.2m) | $23.3m | $621.1m | $546.1m | $477.0m | $199.7m | $153.7m | $288.2m | $310.9m | $192.4m | |
| Supplemental disclosure of cash flow information: | |||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | $119.9m | $116.1m | $99.9m | $144.8m | $138.0m | $98.5m | $112.3m | $261.6m | $351.4m | $287.6m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.