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Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Jun. 28, 2014	Jul. 25, 2014	Dec. 27, 2013
Document and Entity Information [Abstract]
Entity Registrant Name	AVNET INC
Entity Central Index Key	0000008858
Document Type	10-K
Document Period End Date	Jun. 28, 2014
Current Fiscal Year End Date	--06-28
Amendment Flag	false
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 5,951,617,754
Entity Common Stock, Shares Outstanding		138,259,004

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 28, 2014	Jun. 29, 2013
Current assets:
Cash and cash equivalents	$ 928,971	$ 1,009,343
Receivables, less allowances of $96,382 and $95,656, respectively	5,220,528	4,868,973
Inventories	2,613,363	2,264,341
Prepaid and other current assets	191,337	214,221
Total current assets	8,954,199	8,356,878
Property, plant and equipment, net	534,999	492,606
Goodwill	1,348,468	1,261,288
Intangible assets, net	184,308	172,212
Other assets	233,543	191,696
Total assets	11,255,517	10,474,680
Current liabilities:
Short-term debt	865,088	838,190
Accounts payable	3,402,369	3,278,152
Accrued expenses and other	711,369	705,102
Total current liabilities	4,978,826	4,821,444
Long-term debt	1,213,814	1,206,993
Other liabilities	172,684	157,118
Total liabilities	6,365,324	6,185,555
Commitments and contingencies (Note 13)
Shareholders’ equity:
Common stock $1.00 par; authorized 300,000,000 shares; issued 138,285,825 shares and 137,126,784 shares, respectively	138,286	137,127
Additional paid-in capital	1,355,663	1,320,901
Retained earnings	3,257,407	2,802,966
Accumulated other comprehensive income	139,512	28,895
Treasury stock at cost, 36,836 shares and 38,238 shares, respectively	(675)	(764)
Total shareholders’ equity	4,890,193	4,289,125
Total liabilities and shareholders’ equity	$ 11,255,517	$ 10,474,680

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 28, 2014	Jun. 29, 2013
Current assets:
Allowances for receivables	$ 96,382	$ 95,656
Shareholders’ equity:
Common stock, par value	$ 1.00	$ 1.00
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares issued	138,285,825	137,126,784
Treasury stock, shares	36,836	38,238

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jun. 28, 2014	Jun. 29, 2013	Jun. 30, 2012
Sales	$ 27,499,654	$ 25,458,924	$ 25,707,522
Cost of sales	24,273,923	22,479,123	22,656,965
Gross profit	3,225,731	2,979,801	3,050,557
Selling, general and administrative expenses	2,341,168	2,204,319	2,092,807
Restructuring, integration and other expenses	94,623	149,501	73,585
Operating income	789,940	625,981	884,165
Other (expense) income, net	(6,092)	(74)	(5,442)
Interest expense	(104,823)	(107,653)	(90,859)
Gain on legal settlement, bargain purchase and other (Notes 2 and 13)	22,102	31,011	2,918
Income before income taxes	701,127	549,265	790,782
Income tax expense	155,523	99,192	223,763
Net income	$ 545,604	$ 450,073	$ 567,019
Earnings per share:
Basic	$ 3.95	$ 3.26	$ 3.85
Diluted	$ 3.89	$ 3.21	$ 3.79
Shares used to compute earnings per share:
Basic	137,991	137,951	147,278
Diluted	140,119	140,003	149,553
Cash dividends paid per common share	$ 0.60	$ 0.00	$ 0.00

Consolidated Statements of Comprehensive Income Statement - USD ($) $ in Thousands	12 Months Ended
	Jun. 28, 2014	Jun. 29, 2013	Jun. 30, 2012
Net income	$ 545,604	$ 450,073	$ 567,019
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments and other	108,754	44,597	(370,415)
Pension adjustments, net	1,863	30,130	(52,628)
Total comprehensive income	$ 656,221	$ 524,800	$ 143,976

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Net Income
-URI http://asc.fasb.org/extlink&oid=6518256

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3602-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.19)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.18)
-URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.22)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Other Comprehensive Income
-URI http://asc.fasb.org/extlink&oid=6519514

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=28358780&loc=d3e565-108580

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 19
-Article 5

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 20
-Article 9

+ Details

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings	Accumulated Other Comprehensive Income (Loss) [Member]	Treasury Stock [Member]
Beginning Balance at Jul. 02, 2011	$ 4,056,070	$ 152,835	$ 1,233,209	$ 2,293,510	$ 377,211	$ (695)
Net income	567,019			567,019
Translation adjustments	(370,415)				(370,415)
Pension liability adjustment, net of tax	(52,628)				(52,628)
Repurchases of common stock (Note 4)	(325,941)	(11,270)		(314,671)
Stock-based compensation, including related tax benefits	31,627	1,021	30,608			(2)
Ending Balance at Jun. 30, 2012	3,905,732	142,586	1,263,817	2,545,858	(45,832)	(697)
Net income	450,073			450,073
Translation adjustments	44,597				44,597
Pension liability adjustment, net of tax	30,130				30,130
Repurchases of common stock (Note 4)	(199,585)	(6,620)		(192,965)
Stock-based compensation, including related tax benefits	34,385	1,161	33,291			(67)
Acquisition of non-controlling interest (Note 2)	23,793		23,793
Ending Balance at Jun. 29, 2013	4,289,125	137,127	1,320,901	2,802,966	28,895	(764)
Net income	545,604			545,604
Translation adjustments	108,754				108,754
Pension liability adjustment, net of tax	1,863				1,863
Cash dividends	(82,755)			(82,755)
Repurchases of common stock (Note 4)	(8,616)	(208)		(8,408)
Stock-based compensation, including related tax benefits	36,218	1,367	34,762			89
Ending Balance at Jun. 28, 2014	$ 4,890,193	$ 138,286	$ 1,355,663	$ 3,257,407	$ 139,512	$ (675)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Consolidated Statements of Shareholders' Equity (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Jun. 28, 2014	Jun. 29, 2013	Jun. 30, 2012
Tax on pension liability adjustment	$ 5,013	$ 19,062	$ 32,382
Related tax benefits on stock option and incentive programs	$ 8,432	$ 4,110	$ 4,442

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jun. 28, 2014	Jun. 29, 2013	Jun. 30, 2012
Cash flows from operating activities:
Net income	$ 545,604	$ 450,073	$ 567,019
Non-cash and other reconciling items:
Depreciation	92,464	88,333	73,551
Amortization	44,724	32,343	27,785
Deferred income taxes	(15,644)	(10,019)	11,782
Stock-based compensation	45,916	43,677	35,737
Gain on bargain purchase and other (Note 2)	0	(31,011)	(2,918)
Other, net	88,687	75,327	66,263
Changes in (net of effects from businesses acquired):
Receivables	(306,873)	(94,203)	72,267
Inventories	(226,141)	225,667	133,178
Accounts payable	48,651	(78,834)	(319,094)
Accrued expenses and other, net	(79,970)	(5,156)	(136,852)
Net cash flows provided by operating activities	237,418	696,197	528,718
Cash flows from financing activities:
Issuance of notes in a public offering, net of issuance costs	0	349,258	0
Repayment of notes	(300,000)	0	0
Borrowings (repayments) under accounts receivable securitization program, net	255,000	(310,000)	510,000
Borrowings (repayments) under bank facilities and other debt, net	38,765	(180,941)	85,816
Repurchases of common stock (Note 4)	(8,616)	(207,192)	(318,333)
Dividends paid on common stock	(82,755)	0	0
Other, net	9,109	4,792	5,590
Net cash flows (used for) provided by financing activities	(88,497)	(344,083)	283,073
Cash flows from investing activities:
Purchases of property, plant and equipment	(123,242)	(97,379)	(128,652)
Acquisitions of businesses, net of cash acquired	(116,882)	(262,306)	(313,218)
Cash proceeds from divestitures, net of cash divested	0	3,613	0
Other, net	2,666	3,018	1,046
Net cash flows used for investing activities	(237,458)	(353,054)	(440,824)
Effect of exchange rate changes on cash and cash equivalents	8,165	3,419	(39,437)
Cash and cash equivalents:
— (decrease) increase	(80,372)	2,479	331,530
- at beginning of year	1,009,343	1,006,864	675,334
- at end of year	$ 928,971	$ 1,009,343	$ 1,006,864

Summary of significant accounting policies	12 Months Ended
Summary of significant accounting policies	Jun. 28, 2014
Accounting Policies [Abstract]
Summary of significant accounting policies	Summary of significant accounting policies Principles of consolidation — The accompanying consolidated financial statements include the accounts of Avnet, Inc. and all of its majority-owned and controlled subsidiaries (the "Company" or "Avnet"). All intercompany accounts and transactions have been eliminated. Reclassifications — Certain prior period amounts have been reclassified to conform to the current-period presentation. Fiscal year — The Company operates on a “52/53 week” fiscal year, which ends on the Saturday closest to June 30th. Fiscal 2014, 2013, and 2012 all contained 52 weeks. Unless otherwise noted, all references to “fiscal 2014” or any other “year” shall mean the Company’s fiscal year. Management estimates — The preparation of financial statements in conformity with generally accepted accounting principles in the United States ("GAAP") requires management to make estimates and assumptions that affect certain reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of sales and expenses during the reporting period. Actual results could differ materially from those estimates. Cash and cash equivalents — The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. Inventories — Inventories, comprised principally of finished goods, are stated at cost (first-in, first-out) or market, whichever is lower. The Company regularly reviews the cost of inventory against its estimated market value, considering any rights of return or price protection provided by the Company’s suppliers, and records a lower of cost or market write-down if any inventories have a cost in excess of their estimated market value. Investments — Investments in joint ventures and entities ("ventures") in which the Company has an ownership interest of greater than 50% and exercises control over the ventures are consolidated in the accompanying consolidated financial statements. Non-controlling interests in the years presented are not material and, as a result, are included in the caption “accrued expenses and other” in the accompanying consolidated balance sheets. Investments in ventures in which the Company exercises significant influence but not control are accounted for using the equity method. Investments in ventures in which the Company’s ownership interest is less than 20% and over which the Company does not exercise significant influence are accounted for using the cost method. The Company monitors ventures for events or circumstances that indicate that the fair value of a venture is less than its carrying value, in which case the Company would further review the venture to determine if it is other-than-temporarily impaired. During fiscal 2014, 2013 and 2012 the Company did not have any material investments in ventures. Depreciation , amortization and useful lives — The Company reports property, plant and equipment at cost, less accumulated depreciation. Cost includes the price paid to acquire or construct the assets, required installation costs, interest capitalized during the construction period, and any expenditure that substantially adds to the value of or substantially extends the useful life of an existing asset. Additionally, the Company capitalizes qualified costs related to software obtained or developed for internal use. Software obtained for internal use has generally been enterprise-level business and finance software that is customized to meet the Company’s specific operational requirements. The Company begins depreciation and amortization ("depreciation") for property, plant and equipment when an asset is both in the location and condition for its intended use. Depreciation of property, plant, and equipment is generally provided for by the straight-line method over the estimated useful lives of the long-lived assets. The estimated useful lives for property, plant, and equipment are typically as follows: buildings — 30 years; machinery, fixtures and equipment — 2-10 years; information technology hardware and software — 2-10 years; and leasehold improvements — over the applicable remaining lease term or useful life if shorter. The Company amortizes intangible assets acquired in business combinations using the straight-line method over the estimated economic lives of the intangible assets from the date of acquisition, which is generally between 2-10 years. Long-lived assets impairment — Long-lived assets, including property, plant and equipment and intangible assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. An impairment is recognized when the estimated undiscounted cash flows expected to result from the use of the asset group and its eventual disposition is less than its carrying amount. An impairment is measured as the amount by which an asset group's net book value exceeds its estimated fair value. For purposes of recognition and measurement of an impairment loss, long-lived assets are grouped with other assets and liabilities at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. The Company considers a long-lived asset to be abandoned when it has ceased use of such abandoned asset and if the Company has no intent to use or repurpose the asset in the future. The Company continually evaluates the carrying value and the remaining economic useful life of all long-lived assets and will adjust the carrying value and the related depreciation and amortization period if and when appropriate. Goodwill — Goodwill represents the excess of the purchase price of acquired businesses over the estimated fair value assigned to the individual assets acquired and liabilities assumed. The Company does not amortize goodwill, but instead tests goodwill for impairment at least annually in the fourth quarter and, if necessary, records any impairment resulting from such impairment testing. Impairment testing is performed at the reporting unit level, and the Company has identified six reporting units, defined as each of the three regions (Americas, EMEA, and Asia Pacific) within the Company’s two reportable segments. The Company will perform an impairment test between scheduled annual tests if facts and circumstances indicate that it is more likely than not that the fair value of a reporting unit that has goodwill is less than its carrying value. In performing goodwill impairment testing, the Company may first make a qualitative assessment of whether it is more-likely-than-not that a reporting unit’s fair value is less than its carrying value to determine whether it is necessary to perform the two-step goodwill impairment test. If the qualitative assessment indicates it is more-likely-than-not that a reporting unit’s fair value is not greater than its carrying value, the Company must perform a two-step impairment test. The Company defines the fair value of a reporting unit as the price that would be received to sell the reporting unit as a whole in an orderly transaction between market participants at the measurement date. To determine fair value of a reporting unit, the Company primarily uses the income approach methodology of valuation, which includes the discounted cash flow method, and the market approach methodology of valuation, which considers values of comparable businesses to estimate the fair values of the Company’s reporting units. Significant management judgment is required when estimating the fair value of the Company’s reporting units from a market participant perspective including the forecasting of future operating results, the discount rates and expected future growth rates used in the discounted cash flow method of valuation, and in the selection of comparable businesses that are used in the market approach. If the estimated fair value of the reporting unit exceeds the carrying value assigned to that reporting unit, goodwill is not impaired and no further analysis is required. If the carrying value assigned to a reporting unit exceeds its estimated fair value in the first step, then the Company is required to perform the second step of the impairment test. In this step, the Company assigns the fair value of the reporting unit calculated in the first step to all of the assets and liabilities of that reporting unit, as if a market participant just acquired the reporting unit in a business combination. The excess of the fair value of the reporting unit determined in the first step of the impairment test over the total amount assigned to the assets and liabilities in the second step of the impairment test represents the implied fair value of goodwill. If the carrying value of a reporting unit’s goodwill exceeds the implied fair value of goodwill, the Company would record an impairment loss equal to the difference. If there is no such excess then all goodwill for a reporting unit is considered impaired. Foreign currency translation — The assets and liabilities of foreign operations are translated into U.S. Dollars at the exchange rates in effect at the balance sheet date, with the related translation adjustments reported as a separate component of shareholders’ equity and comprehensive income. Results of operations are translated using the average exchange rates prevailing throughout the period. Transactions denominated in currencies other than the functional currency of the Avnet subsidiaries that are party to the transactions (primarily trade receivables and payables) are translated at exchange rates in effect at the balance sheet date or upon settlement of the transaction. Gains and losses from such translation are recorded in the consolidated statements of operations as a component of “other income (expense), net.” In fiscal 2014, 2013 and 2012, gains or losses on foreign currency translation were not material. Income taxes — The Company follows the asset and liability method of accounting for income taxes. Deferred income tax assets and liabilities are recognized for the estimated future tax impact of differences between the financial statement carrying amounts of assets and liabilities and their respective tax bases. Deferred income tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect on deferred income tax assets and liabilities of a change in tax rates is recognized in earnings in the period in which the new rate is enacted. Based upon historical and estimated levels of future taxable income and analysis of other key factors, the Company may increase or decrease a valuation allowance against its deferred tax assets, as deemed necessary, to state such assets at their estimated net realizable value. The Company establishes contingent liabilities for potentially unfavorable outcomes of positions taken on certain tax matters. These liabilities are based on management’s assessment of whether a tax benefit is more likely than not to be sustained upon examination by tax authorities. There may be differences between the estimated and actual outcomes of these matters that may result in future changes in estimates to such contingent liabilities. To the extent such changes in estimates are required, the Company’s effective tax rate may potentially fluctuate as a result. In accordance with the Company's accounting policies, accrued interest and penalties related to unrecognized tax benefits are recorded as a component of income tax expense. Self-insurance — In the United States, the Company is primarily self-insured for workers’ compensation, medical, and general, product and automobile liability costs; however, the Company also has stop-loss insurance policies in place to limit the Company’s exposure to individual and aggregate claims made. Liabilities for these programs are estimated based upon outstanding claims and claims estimated to be incurred but not yet reported based upon historical loss experience. These estimates are subject to variability due to changes in trends of losses for outstanding claims and incurred but not recorded claims, including external factors such as future inflation rates, benefit level changes and claim settlement patterns. Revenue recognition —Revenue from the sale of products or services is recognized when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the sales price is fixed or determinable and collectability is reasonably assured. Generally, these criteria are met upon either shipment or delivery to customers, depending upon the sales terms. Most of the Company’s product sales come from products Avnet purchases from a supplier and holds in inventory. A portion of the Company’s sales are products shipped directly from its suppliers to its customers ("drop-ship"). In such drop-ship arrangements, Avnet negotiates the price with the customer, pays the supplier directly for the products shipped and bears credit risk of collecting payment from its customers. Furthermore, in such drop-shipment arrangements, the Company bears responsibility for accepting returns of products from the customer even if the Company, in turn, has a right to return the products to the original supplier if the products are defective. Under these sales terms, the Company serves as the principal with the customer and, therefore, recognizes the gross sale and cost of sale of the product upon shipment by the supplier. In addition, the Company has certain contractual relationships with a limited number of its customers and suppliers whereby Avnet assumes an agency relationship in the transaction. In such arrangements, the Company recognizes the net fee associated with serving as an agent in sales with no associated cost of sales. Revenues from maintenance contracts are recognized ratably over the life of the contracts, generally ranging from one to three years. Revenues are recorded net of discounts, rebates and estimated returns. Provisions are made for discounts and rebates, which are primarily timing or volume specific, and are estimated based on historical trends and anticipated customer buying patterns. Provisions for returns and other sales adjustments are estimated based on historical sales returns experience, credit memo experience and other known factors. Vendor allowances and consideration — Consideration received from suppliers for price protection, product rebates, marketing/promotional activities, or any other programs are recorded when earned under the terms and conditions of such supplier programs as adjustments to product costs or selling, general and administrative expenses depending upon the nature and contractual requirements related to the consideration received. Some of these supplier programs may extend over one or more reporting periods and may require management to make estimates. Comprehensive income — Comprehensive income represents net income for the year adjusted for certain changes in shareholders’ equity. Accumulated comprehensive income items impacting comprehensive income typically include currency translation and the impact of the Company’s pension liability adjustments, net of tax (see Note 4). Stock-based compensation —The Company measures stock-based payments at fair value and generally recognizes the associated operating expense in the consolidated statement of operations over the requisite service period (see Note 12). A stock-based payment is considered vested for accounting expense attribution purposes when the employee's retention of the award is no longer contingent on providing continued service. Accordingly, the Company recognizes all stock-based compensation expense for an award on the grant date for awards granted to retirement eligible employees or over the period from the grant date to the date retirement eligibility is achieved, if less than the stated requisite service period. The expense attribution approach for retirement eligible employees does not affect the overall amount of compensation expense recognized, but instead accelerates the recognition of expense. Restructuring and Exit Activities — The Company accounts for employee termination benefits that represent a one-time benefit in accordance with ASC 420, Exit or Disposal Cost Obligations. If applicable, the Company records such costs into operating expense over the terminated employee’s future service period beyond any minimum retention period. Other costs associated with restructuring or exit activities may include contract termination costs including operating leases and impairments of long-lived assets, which are expensed in accordance with ASC 420 and ASC 360, respectively. Business Combinations — The Company accounts for business acquisitions using the acquisition method of accounting and records any identifiable definite-lived intangible assets separate from goodwill. Intangible assets are recorded at their fair value based on estimates as of the date of acquisition. Goodwill is recorded as the residual amount of the purchase price consideration less the fair value assigned to the individual identifiable assets acquired and liabilities assumed as of the date of acquisition. Contingent consideration, which represents an obligation of the acquirer to transfer additional assets or equity interests to the former owner as part of the exchange if specified future events occur or conditions are met, is accounted for at the acquisition date fair value either as a liability or as equity depending on the terms of the acquisition agreement. Concentration of credit risk — Financial instruments that potentially subject the Company to a concentration of credit risk principally consist of cash and cash equivalents and trade accounts receivable. The Company invests its excess cash primarily in overnight Eurodollar time deposits and institutional money market funds with the highest rated financial institutions. To reduce credit risk, management performs ongoing credit evaluations of its customers’ financial condition and, in some instances, has obtained credit insurance coverage to reduce such risk. The Company maintains reserves for potential credit losses from customers, but has not historically experienced any material losses related to individual customers or groups of customers in any particular end market or geographic area. Fair value — The Company measures financial assets and liabilities at fair value based upon an exit price, representing the amount that would be received on the sale of an asset or paid to transfer a liability, in an orderly transaction between market participants. Accounting standards require inputs used in valuation techniques for measuring fair value on a recurring or non-recurring basis be assigned to a hierarchical level as follows: Level 1 are observable inputs that reflect quoted prices for identical assets or liabilities in active markets. Level 2 are observable market-based inputs or unobservable inputs that are corroborated by market data and Level 3 are unobservable inputs that are not corroborated by market data. During fiscal 2014, 2013, and 2012, there were no transfers of assets measured at fair value between the three levels of fair value hierarchy. The carrying amounts of the Company’s financial instruments, including cash and cash equivalents, receivables and accounts payable approximate their fair values at June 28, 2014 due to the short-term nature of these assets and liabilities. At June 28, 2014 and June 29, 2013, the Company had $19.7 million and $2.1 million, respectively, of cash equivalents that were measured at fair value based upon Level 1 criteria. See Note 7 for further discussion of the fair value of the Company’s long-term debt and Note 10 for a discussion of the fair value of the Company's pension plan assets. Derivative financial instruments — Many of the Company’s subsidiaries purchase and sell products in currencies other than their functional currencies. This subjects the Company to the risks associated with fluctuations in foreign currency exchange rates. The Company reduces this risk by utilizing natural hedging (i.e., offsetting receivables and payables) as well as by creating offsetting positions through the use of derivative financial instruments, primarily forward foreign exchange contracts typically with maturities of less than 60 days ("economic hedges"). The Company continues to have exposure to foreign currency risks to the extent they are not economically hedged. The Company adjusts any economic hedges to fair value through the consolidated statements of operations primarily within "other income (expense), net." Therefore, the changes in valuation of the underlying items being economically hedged are offset by the changes in fair value of the forward foreign exchange contracts. The amounts representing the fair value of forward foreign exchange contracts, based upon Level 2 criteria under the fair value hierarchy, are classified in the captions “other current assets” or “accrued expenses and other,” as applicable, in the accompanying consolidated balance sheets and were not material as of June 28, 2014 and June 29, 2013. The Company did not have material gains or losses related to the forward foreign exchange contracts during fiscal 2014 and fiscal 2013. The Company does not hedge its investments in its foreign operations. The Company does not enter into derivative financial instruments for trading or speculative purposes and monitors the financial stability and credit standing of its counterparties. Accounts receivable securitization — The Company has an accounts receivable securitization program whereby the Company sells certain receivables and retains a subordinated interest and servicing rights to those receivables. The securitization program does not qualify for sales accounting and is accounted for as a secured financing as discussed further in Note 3. Recently issued accounting pronouncements — In July 2013, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists ("ASU 2013-11"). ASU 2013-11 requires the netting of unrecognized tax benefits ("UTBs") against a deferred tax asset for a loss or other carryforward that would apply in settlement of the uncertain tax positions. UTBs are required to be netted against all available same-jurisdiction loss or other tax carryforwards, rather than only against carryforwards that are created by the UTBs. ASU 2013-11 is effective for years, including interim periods within those years, beginning after December 15, 2013. The adoption of ASU 2013-11 in the first quarter of fiscal 2015 is not expected to have a material impact on the Company's consolidated financial statements. In April 2014, the FASB issued Accounting Standards Update No. 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity ("ASU 2014-08"), which changes the criteria for determining which disposals should be presented as discontinued operations and the related disclosure requirements. ASU 2014-08 is effective for the Company on a prospective basis in the first quarter of fiscal 2016 with early adoption permitted for disposals (or classifications as held for sale) that have not been reported in financial statements previously issued. The adoption of ASU 2014-08 in the first quarter of fiscal 2016 is not expected to have a material impact on the Company's consolidated financial statements. In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers ("ASU 2014-09"), to supersede nearly all existing revenue recognition guidance under GAAP. The core principles of ASU 2014-09 are to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration that is expected to be received for those goods or services. Application of the requirements of ASU 2014-09 may require more judgment and estimates within the revenue recognition process compared to existing GAAP. ASU 2014-09 is effective for the Company in the first quarter of fiscal 2018 using either of two acceptable adoption methods: (i) retrospective adoption to each prior reporting period presented with the option to elect certain practical expedients as defined within ASU 2014-09; or (ii) adoption with the cumulative effect of initially applying ASU 2014-09 recognized at the date of initial application and providing certain additional disclosures as defined within ASU 2014-09. The Company is currently evaluating the potential impact of the future adoption of ASU 2014-09 on its consolidated financial statements.

Acquisitions and divestitures

12 Months Ended

Jun. 28, 2014

Acquisitions and divestitures [Abstract]

Acquisitions and divestitures

2014 Acquisitions

During fiscal 2014, the Company acquired three businesses with historical annualized sales of approximately $492.0 million. Cash paid for acquisitions during fiscal 2014 was $116.9 million, net of cash acquired and contingent consideration. The Company has not disclosed the pro-forma impact of the fiscal 2014 acquisitions as such impact was not material.

The gross consideration for the acquisitions was $219.7 million, which consisted of the following (in thousands):



Cash paid	$	181,645
Contingent consideration	38,081
Total consideration	$	219,726

The contingent consideration arrangements stipulate that the Company pay up to a maximum of approximately $50.0 million of additional consideration to the former shareholders of the acquired businesses based upon the achievement of certain future operating results. The Company estimated the fair value of the contingent consideration using an income approach, which is based on significant inputs, primarily forecasted future operating results of the acquired businesses, not observable in the market and thus represents a Level 3 measurement as defined in ASC 820. The Company adjusts the fair value of contingent consideration within operating expenses as a result of the passage of time and if there are changes to the inputs used in the income approach.

The Company has not yet completed its evaluation and determination of the fair value of certain assets and liabilities acquired, primarily (i) the final assessment of working capital acquired and liabilities assumed, and (ii) the final valuation of certain income tax accounts. The Company expects these final valuations and assessments will be completed by the first quarter of fiscal 2015, which may result in adjustments to the preliminary values presented in the following table:



	Acquisition Method Values
	(Thousands)
Cash	$	64,763
Receivables	36,216
Inventories	95,202
Other current assets	6,597
Property, plant and equipment and other non-current assets	28,155
Intangible assets	53,502
Total identifiable assets acquired	284,435

Accounts payable, accrued liabilities and other current liabilities	(66,848		)
Short-term debt	(45,942		)
Other long-term liabilities	(14,535		)
Total identifiable liabilities assumed	(127,325		)
Net identifiable assets acquired	157,110
Goodwill	62,616
Net assets acquired	$	219,726

Goodwill of $52.0 million was assigned to the Electronics Marketing ("EM") reportable segment and goodwill of $10.6 million was assigned to the Technology Solutions ("TS") reportable segment. The goodwill recognized is attributable primarily to expected synergies of the acquired businesses. The amount of goodwill that is expected to be deductible for income tax purposes is not material. The Company periodically adjusts the value of goodwill to reflect changes that occur as a result of adjustments to the preliminary purchase price allocation during the measurement periods following the dates of acquisition.

The Company has recognized restructuring, integration, and other expenses associated with fiscal 2014 and other recent acquisitions, which are described further in Note 17.

2013 Acquisitions

During fiscal 2013, the Company acquired 12 businesses with aggregate annualized sales of approximately $1.18 billion for a total consideration of $309.0 million, which consisted of the following (in thousands):



Cash paid	$	297,484
Contingent consideration	11,467
Total consideration	$	308,951

The contingent consideration arrangements stipulate the Company pay up to a maximum of approximately $22.2 million of additional consideration to the former shareholders of the acquired businesses upon the achievement of certain operating results. The Company estimated the fair value of the contingent consideration using an income approach which is based on significant inputs not observable in the market and thus represents a Level 3 measurement as defined in ASC 820. The Company adjusts the fair value of contingent consideration within operating expenses as a result of the passage of time and if there are changes to the inputs used in the income approach.

Cash paid for acquisitions during fiscal 2013 was $262.3 million, net of cash acquired, contingent consideration and purchase price holdback reserves.

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the respective acquisition dates (in thousands):



Cash	$	29,276
Receivables	226,743
Inventories	91,791
Other current assets	33,689
Property, plant and equipment	25,311
Other assets	47,292
Total identifiable assets acquired	454,102

Accounts payable, accrued liabilities and other current liabilities	(157,986		)
Long-term debt	(66,367		)
Other long-term liabilities	(45,640		)
Total identifiable liabilities assumed	(269,993		)
Net identifiable assets acquired	184,109
Goodwill	157,521
Bargain purchase recognized	(32,679		)
Net assets acquired	$	308,951

Goodwill of $62.0 million was assigned to the EM reportable segment and goodwill of $95.5 million was assigned to the TS reportable segment. The goodwill recognized is attributable primarily to expected synergies and the assembled workforce of the acquired businesses. The amount of goodwill that is expected to be deductible for income tax purposes is not significant. The Company periodically adjusts the value of goodwill to reflect changes that occur as a result of adjustments to the preliminary purchase price allocation during the measurement periods following the dates of acquisition.

Included in "Other assets" in the above table is $35.2 million of identifiable intangible assets (see Note 6) substantially all related to customer relationships.

Supplemental information on an unaudited pro forma basis, as if the fiscal 2013 acquisitions had been consummated as of July 3, 2011, is presented as follows:



	Pro Forma Results For Years Ended
	June 29, 2013		June 30, 2012
	(Millions)
Sales	$	25,771	$	26,872
Net income	$	454	$	587

With respect to the businesses acquired during fiscal 2013, the Company is unable to determine the amount of sales and earnings of each business subsequent to their respective acquisition dates as each business has been integrated into the Company.

Internix, Inc., a company publicly traded on the Tokyo Stock Exchange, was acquired in the first quarter of fiscal 2013 through a tender offer. After assessing the fair value of the identifiable assets acquired and liabilities assumed, the consideration paid was below fair value even though the price paid per share represented a premium to the trading levels at that time. During fiscal 2013, the Company recognized a gain on bargain purchase related to Internix of $32.7 million before and after tax and $0.23 per share on a diluted basis.

In addition to the acquisitions described above, during fiscal 2013, the Company acquired the remaining non-controlling interest in a consolidated subsidiary for a purchase price that was less than its carrying value. The Company has reflected the difference between the purchase price and the carrying value of the non-controlling interest as additional paid-in capital in the accompanying consolidated statement of shareholders' equity for fiscal 2013.

2012 Acquisitions

During fiscal 2012, the Company acquired 11 businesses with aggregate annualized sales of approximately $912.0 million for total consideration of $413.6 million, which consisted of the following (in thousands):



Cash paid	$	390,410
Contingent consideration	23,175
Total consideration	$	413,585

The contingent consideration arrangements stipulate the Company pay up to a maximum of approximately $124 million of additional consideration to the former shareholders of the acquired businesses upon the achievement of certain operating results. The Company estimated the fair value of the contingent consideration using an income approach which is based on significant inputs not observable in the market and thus represents a Level 3 measurement as defined in ASC 820. The Company adjusts the fair value of contingent consideration within operating expenses as a result of the passage of time and if there are changes to the inputs used in the income approach.

Cash paid for acquisitions during fiscal 2012 was $313.2 million, net of cash acquired, contingent consideration and purchase price holdback reserves.

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the respective acquisition dates (in thousands):



Cash	$	75,016
Receivables	132,195
Inventories	59,463
Other current assets	23,936
Property, plant and equipment	9,729
Other assets	104,368
Total identifiable assets acquired	404,707

Accounts payable, accrued liabilities and other current liabilities	(230,747		)
Other long-term liabilities	(2,483		)
Total liabilities assumed	(233,230		)
Net identifiable assets acquired	171,477
Goodwill	246,425
Bargain purchase recognized	(4,317		)
Net assets acquired	$	413,585

Goodwill of $180.0 million was assigned to the EM reportable segment and goodwill of $66.4 million was assigned to the TS reportable segment. The amount of goodwill that is expected to be deductible for income tax purposes is not significant. The Company periodically adjusts the value of goodwill to reflect changes that occur as a result of adjustments to the preliminary purchase price allocation during the measurement periods following the dates of acquisition.

Included in "Other assets" in the above table is $93.3 million of identifiable intangible assets (see Note 6).

Supplemental information on an unaudited pro forma basis, as if the acquisitions had been consummated as of July 3, 2011, is presented as follows:



	Pro Forma Results For Year Ended
	June 30, 2012
	(Millions)
Sales	$	26,052
Net income	$	568

With respect to the businesses acquired during fiscal 2012, the Company is unable to determine the amount of sales and earnings of each business subsequent to their respective acquisition dates as each business has been integrated into the Company.

Unidux Electronic Limited, a Singapore publicly traded company, was acquired in January 2012 through a tender offer. After assessing the fair value of the identifiable assets acquired and liabilities assumed, the consideration paid was below fair value even though the price paid per share represented a premium to the trading levels at that time. Accordingly, the Company recognized a gain on bargain purchase of $4.3 million before and after tax and $0.03 per share on a diluted basis.

Divestitures

During fiscal 2013, the Company divested a small business in TS Asia for which it recognized a loss of $1.7 million before and after tax and $0.01 per share on a diluted basis, which was classified within "Gain on legal settlement, bargain purchase and other."

During fiscal 2012, the Company recognized a loss of $1.4 million before tax, $0.9 million after tax and $0.01 per diluted share classified within "Gain on legal settlement, bargain purchase and other" in the consolidated statements of operations related to the impairment of an investment in a small technology company and the write-off of certain deferred financing costs associated with the early termination of a credit facility.

Accounts Receivable Securitization	12 Months Ended
Accounts Receivable Securitization	Jun. 28, 2014
Transfers and Servicing [Abstract]
Accounts receivable securitization	Accounts receivable securitization Pursuant to the Company's accounts receivable securitization agreement (the “Program”) with a group of financial institutions, as amended, the Company may sell, on a revolving basis, an undivided interest of up to $800.0 million in eligible U.S. receivables while retaining a subordinated interest in the receivables sold. The eligible receivables are sold through a wholly-owned bankruptcy-remote special purpose entity ("SPE") that is consolidated for financial reporting purposes as the Company is the primary beneficiary of the SPE. Such eligible receivables are not directly available to satisfy potential claims of the Company’s creditors. As the Program does not qualify for sales accounting, the receivables and related short-term debt obligation remains on the Company’s consolidated balance sheets. The Program has a one-year term that expires at the end of August 2014, at which time it is expected to be renewed for another one to two years on comparable terms. The Program contains certain covenants, all of which the Company was in compliance with as of June 28, 2014. There were $615.0 million in borrowings outstanding under the Program as of June 28, 2014 and $360.0 million as of June 29, 2013. Interest on borrowings is calculated using a base rate or a commercial paper rate plus a spread of 0.35%. The facility fee is 0.35%.

- Definition

The entire disclosure for a transferor's continuing involvement in financial assets that it has transferred in a securitization or asset-backed financing arrangement, the nature of any restrictions on assets reported by an entity in its statement of financial position that relate to a transferred financial asset (including the carrying amounts of such assets), how servicing assets and servicing liabilities are reported, and (for securitization or asset-backed financing arrangements accounted for as sales) when a transferor has continuing involvement with the transferred financial assets and transfers of financial assets accounted for as secured borrowings, how the transfer of financial assets affects an entity's financial position, financial performance, and cash flows.

+ References + Details

Shareholders' Equity

12 Months Ended

Jun. 28, 2014

Equity [Abstract]

Shareholders' equity

Accumulated comprehensive income (loss)

The following table includes the balances within accumulated other comprehensive income (loss):



	June 28, 2014			June 29, 2013			June 30, 2012
	(Thousands)
Accumulated translation adjustments and other	$	244,149		$	135,395		$	90,798
Accumulated pension liability adjustments, net of income taxes	(104,637		)	(106,500		)	(136,630		)
Total accumulated other comprehensive income (loss)	$	139,512		$	28,895		$	(45,832	)

Comprehensive income (loss) includes foreign currency translation adjustments and pension liability adjustments. Amounts reclassified out of accumulated comprehensive income (loss), net of tax, to operating expenses during fiscal 2014, 2013 and 2012 substantially all related to net periodic pension costs as discussed further in Note 10.

Share repurchase program

In August 2012, the Company's Board of Directors amended the Company's existing share repurchase program to authorize the repurchase of up to $750.0 million of common stock in the open market or through privately negotiated transactions. The timing and actual number of shares repurchased will depend on a variety of factors such as price, corporate and regulatory requirements, and prevailing market conditions. During fiscal 2014, the Company repurchased 0.2 million shares under this program at an average market price of $41.46 per share for a total cost of $8.6 million. Repurchased shares were retired. Since the beginning of the repurchase program through the end of fiscal 2014, the Company has repurchased 18.1 million shares at an aggregate cost of $534.1 million, and $215.9 million remains available for future repurchases under the share repurchase program.

Common stock dividend

In May 2014, the Company's Board of Directors approved a dividend of $0.15 per common share to the shareholders of record on June 3, 2014. Dividend payments of $20.7 million were made in June 2014.

During fiscal 2014, the Company has paid dividends of $0.60 per common share and $82.8 million in total.

- Definition

The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=28358780&loc=d3e689-108580

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=28358780&loc=SL7669619-108580

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=28358780&loc=d3e640-108580

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=28358780&loc=d3e716-108580

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 16
-URI http://asc.fasb.org/extlink&oid=28358780&loc=d3e709-108580

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=28358780&loc=d3e637-108580

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=28358780&loc=d3e681-108580

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Reclassification Adjustments
-URI http://asc.fasb.org/extlink&oid=6522872

+ Details

Property plant and equipment, net

12 Months Ended

Jun. 28, 2014

Property, Plant and Equipment [Abstract]

Property, plant and equipment, net

Property, plant and equipment are recorded at cost and consist of the following:



	June 28, 2014			June 29, 2013
	(Thousands)
Buildings	$	132,291		$	141,886
Machinery, fixtures and equipment	266,416			213,317
Information technology hardware and software	699,466			628,026
Leasehold improvements	118,907			102,301
Depreciable property, plant and equipment, gross	1,217,080			1,085,530
Accumulated depreciation	(783,485		)	(691,980		)
Depreciable property, plant and equipment, net	433,595			393,550
Land	31,730			24,834
Construction in progress	69,674			74,222
Property, plant and equipment, net	$	534,999		$	492,606

Depreciation expense related to property, plant and equipment was $92.5 million, $88.3 million and $73.6 million in fiscal 2014, 2013 and 2012, respectively.

Goodwill and intangible assets

12 Months Ended

Jun. 28, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and intangible assets

The following table presents the change in goodwill balances by reportable segment for fiscal year 2014. All of the accumulated impairment was recognized in fiscal 2009.



	Electronics Marketing			Technology Solutions			Total
	(Thousands)
Gross goodwill	$	1,646,940		$	994,082		$	2,641,022
Accumulated impairment	(1,045,110		)	(334,624		)	(1,379,734		)
Carrying value at June 29, 2013	601,830			659,458			1,261,288
Additions	51,994			10,622			62,616
Adjustments	2,039			552			2,591
Foreign currency translation	12,594			9,379			21,973
Carrying value at June 28, 2014	$	668,457		$	680,011		$	1,348,468
Gross goodwill	$	1,713,567		$	1,014,635		$	2,728,202
Accumulated impairment	(1,045,110		)	(334,624		)	(1,379,734		)
Carrying value at June 28, 2014	$	668,457		$	680,011		$	1,348,468

The goodwill additions are a result of businesses acquired during fiscal 2014 (see Note 2) and goodwill adjustments represent the net purchase accounting adjustments for acquisitions during the related measurement periods.

Goodwill represents the excess of the purchase price of acquired businesses over the estimated fair value assigned to the individual assets acquired and liabilities assumed. The Company is required to test goodwill for impairment at least annually as of the first day of its fiscal fourth quarter. The Company will perform an impairment test between required annual tests if facts and circumstances indicate that it is more likely than not that the fair value of a reporting unit that has goodwill is less than its carrying value. Once goodwill has been assigned to a reporting unit, for accounting purposes, the goodwill is no longer directly associated with the underlying acquisitions that the goodwill originated from, but rather the reporting unit to which it has been assigned. During Fiscal 2014, 2013 and 2012 the Company elected to perform the first-step of the two-step goodwill impairment test instead of first performing a qualitative goodwill impairment test.

The first step in a two-step impairment test is the comparison of the fair value of a reporting unit with its carrying amount, including goodwill. Based upon the Company’s annual impairment tests performed for fiscal 2014, 2013 and 2012, there was no impairment of goodwill in the respective fiscal years.

The following table presents the Company’s identifiable intangible assets, which have a weighted average life of approximately 8 years for each fiscal year presented:



	June 28, 2014							June 29, 2013
	Gross Acquired Amount		Accumulated Amortization			Net Book Value		Gross Acquired Amount		Accumulated Amortization			Net Book Value
	(Thousands)
Customer relationships	$	319,496	$	(155,604	)	$	163,892	$	276,107	$	(109,946	)	$	166,161
Trade name	5,993		(1,555		)	4,438		3,320		(480		)	2,840
Other	18,833		(2,855		)	15,978		4,177		(966		)	3,211
	$	344,322	$	(160,014	)	$	184,308	$	283,604	$	(111,392	)	$	172,212

Intangible asset amortization expense was $44.7 million, $32.3 million and $27.8 million for fiscal 2014, 2013 and 2012 respectively. The following table presents the estimated future amortization expense for the next five fiscal years and thereafter (in thousands):



Fiscal Year	Amortization Expense
2015	$	41,458
2016	35,512
2017	33,478
2018	24,900
2019	20,756
Thereafter	28,204
Total	$	184,308

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

External financing

12 Months Ended

Jun. 28, 2014

Debt Disclosure [Abstract]

External financing

Short-term debt consists of the following:



	June 28, 2014		June 29, 2013
	(Thousands)
Bank credit facilities and other	$	250,088	$	178,240
Accounts receivable securitization program (Note 3)	615,000		360,000
Current portion of long-term debt	—		299,950
Short-term debt	$	865,088	$	838,190

Bank credit facilities consist of various committed and uncommitted lines of credit and other forms of bank debt with financial institutions utilized primarily to support the working capital requirements of foreign operations. The weighted average interest rate on the bank credit facilities was 3.2% and 4.3% at the end of fiscal 2014 and 2013, respectively. The interest rate on the accounts receivable securitization program was 0.6% at the end of fiscal 2014 and 2013.

Long-term debt consists of the following:



	June 28, 2014			June 29, 2013
	(Thousands)
2012 Credit Facility	$	12,000		$	6,700
6.000% Notes due September 1, 2015	250,000			250,000
6.625% Notes due September 15, 2016	300,000			300,000
5.875% Notes due June 15, 2020	300,000			300,000
4.875% Notes due December 1, 2022	350,000			350,000
Other long-term debt	3,867			2,879
Subtotal	1,215,867			1,209,579
Unamortized discount on notes	(2,053		)	(2,586		)
Long-term debt	$	1,213,814		$	1,206,993

At the end of fiscal 2014, the Company had a five-year $1.00 billion senior unsecured revolving credit facility (the "2012 Credit Facility") with a syndicate of banks, which expires in November 2016. Under the 2012 Credit Facility, the Company may select from various interest rate options, currencies and maturities. The 2012 Credit Facility contains certain covenants, all of which the Company was in compliance with as of June 28, 2014. At June 28, 2014, there were letters of credit aggregating to $2.0 million outstanding which represents a utilization of the 2012 Credit Facility capacity but are not recorded in the consolidated balance sheet as the letters of credit are not debt. At June 29, 2013, there were letters of credit aggregating $2.3 million outstanding.

In July 2014, subsequent to the end of fiscal 2014, the Company terminated the 2012 Credit Facility and entered into a five-year $1.25 billion senior unsecured revolving credit facility (the "2014 Credit Facility") with a syndicate of banks, consisting of revolving credit facilities and the issuance of up to $150.00 million of letters of credit. Subject to certain conditions, the 2014 Credit Facility may be increased up to $1.50 billion. Under the 2014 Credit Facility, the Company may select from various interest rate options, currencies and maturities. The 2014 Credit Facility contains certain covenants, which are substantially similar to those covenants contained in the 2012 Credit Facility. The 2014 Credit Facility is scheduled to mature in July 2019.

Aggregate debt maturities for the next five fiscal years and thereafter are as follows (in thousands):



2015	$	865,088
2016	264,547
2017	301,286
2018	34
2019	—
Thereafter	650,000
Subtotal	2,080,955
Discount on notes	(2,053		)
Total debt	$	2,078,902

At June 28, 2014, the carrying value and fair value of the Company’s debt was $2.08 billion and $2.19 billion, respectively. Fair value was estimated primarily based upon quoted market prices for the Company's long-term notes. At June 29, 2013, the carrying value and fair value of the Company’s debt was $2.05 billion and $2.13 billion, respectively. Fair value was estimated primarily based upon quoted market prices for the Company's long-term notes.

Accrued expenses and other

12 Months Ended

Jun. 28, 2014

Payables and Accruals [Abstract]

Accrued expenses and other

Accrued expenses and other consist of the following:



	June 28, 2014		June 29, 2013
	(Thousands)
Accrued salaries and benefits	$	339,885	$	304,606
Accrued operating costs	117,556		92,306
Accrued interest and banking costs	32,878		42,096
Accrued restructuring costs (Note 17)	40,917		46,522
Accrued income taxes	40,829		54,039
Accrued other	139,304		165,533
Total accrued expenses and other	$	711,369	$	705,102

Income Taxes

12 Months Ended

Jun. 28, 2014

Income Tax Disclosure [Abstract]

Income taxes

The components of income tax expense (“tax provision”) are indicated in the table below. The tax provision for deferred income taxes results from temporary differences arising principally from net operating losses, inventories valuation, receivables valuation, certain accrued amounts and depreciation and amortization, net of any changes to valuation allowances.



	Years Ended
	June 28, 2014			June 29, 2013			June 30, 2012
	(Thousands)
Current:
Federal	$	71,714		$	17,212		$	94,237
State and local	8,038			7,034			19,466
Foreign	91,415			84,965			98,278
Total current taxes	171,167			109,211			211,981
Deferred:
Federal	11,305			2,619			6,896
State and local	3,810			2,390			758
Foreign	(30,759		)	(15,028		)	4,128
Total deferred taxes	(15,644		)	(10,019		)	11,782
Income tax expense	$	155,523		$	99,192		$	223,763

The tax provision is computed based upon income before income taxes from both U.S. and foreign operations. U.S. income before income taxes was $235.4 million, $174.0 million and $320.3 million and foreign income before income taxes was $465.7 million, $375.3 million and $470.4 million in fiscal 2014, 2013 and 2012, respectively.

Reconciliations of the federal statutory tax rate to the effective tax rates are as follows:



	Years Ended
	June 28, 2014		June 29, 2013		June 30, 2012
Federal statutory rate	35.0	%	35.0	%	35.0	%
State and local income taxes, net of federal benefit	1.3		1.1		1.8
Foreign tax rates, net of valuation allowances	(9.3	)	(7.2	)	(5.4	)
Release of valuation allowance, net of U.S. tax expense	(4.8	)	(6.4	)	(2.8	)
Change in contingency reserves	(0.1	)	0.4		0.5
Tax audit settlements	(0.6	)	(6.0	)	(1.0	)
Other, net	0.7		1.2		0.2
Effective tax rate	22.2	%	18.1	%	28.3	%

Foreign tax rates represents the impact of the difference between foreign and federal statutory rates applied to foreign income or loss and also include the impact of valuation allowances established against the Company's otherwise realizable foreign deferred tax assets, which are primarily loss carry-forwards.

Avnet’s effective tax rate on income before income taxes was 22.2% in fiscal 2014 as compared with an effective tax rate of 18.1% in fiscal 2013. Included in the fiscal 2014 effective tax rate is a net tax benefit of $43.8 million, which is comprised primarily of (i) a tax benefit of $33.4 million for the release of valuation allowances against deferred tax assets that were determined to be realizable, primarily related to a legal entity in EMEA (discussed further below), and (ii) a net tax benefit of $7.0 million resulting from losses related to an investment in a foreign subsidiary. The fiscal 2014 effective tax rate is higher than the fiscal 2013 effective tax rate primarily due to a lower amount of tax benefits from audit settlements in fiscal 2014 as compared to fiscal 2013, partially offset by a greater tax benefit from the valuation allowances released in fiscal 2014 as compared with the amount released in fiscal 2013.

The Company applies the guidance in ASC 740, which requires management to use its judgment to the appropriate weighting of all available evidence when assessing the need for the establishment or the release of valuation allowances. As part of this analysis, the Company examines all available evidence on a jurisdiction by jurisdiction basis and weighs the positive and negative evidence when determining the need for full or partial valuation allowances. The evidence considered for each jurisdiction includes, among other items: (i) the historic levels of income or losses over a range of time periods, which may extend beyond the most recent three fiscal years depending upon the historical volatility of income in an individual jurisdiction; (ii) expectations and risk associated with underlying estimates of future taxable income, including considering the historical trend of down-cycles in the semiconductor and related industries; and (iii) prudent and feasible tax planning strategies.

As of the end of fiscal 2014, the Company had a partial valuation allowance against significant net operating loss carry-forward deferred tax assets related to a legal entity in EMEA due to, among several other factors, a history of losses in that entity. In recent fiscal years, such entity has been experiencing improved earnings, which required the partial release of the valuation allowance to the extent the entity has projected future taxable income. In fiscal 2014 and fiscal 2013, the Company determined a portion of the valuation allowance for such legal entity was no longer required due to the expected continuation of improved earnings in the foreseeable future and, as a result, the Company's effective tax rate was reduced upon the partial release of the valuation allowance, net of the U.S. tax expense. In fiscal 2014 and 2013, the valuation allowance released associated with this EMEA legal entity was $33.6 million and $27.1 million, respectively, net of the U.S. tax expense associated with the release. Excluding the benefit in both fiscal years related to the release of the tax valuation allowance associated with such EMEA legal entity, the effective tax rate for fiscal 2014 and fiscal 2013 would have been 27.0% and 23.0%, respectively.

ASC 740 requires a preponderance of positive evidence in order to reach a conclusion to release all or a portion of a valuation allowance when negative evidence exists. The Company will continue to evaluate the need for a valuation allowance against these deferred tax assets and will adjust the valuation allowance as deemed appropriate which, if reduced, could result in a significant decrease to the effective tax rate in the period of the adjustment.

No provision for U.S. income taxes has been made for approximately $2.77 billion of cumulative unremitted earnings of foreign subsidiaries at June 28, 2014 because those earnings are expected to be permanently reinvested outside the U.S. A hypothetical calculation of the deferred tax liability, assuming those earnings were remitted, is not practicable.

The significant components of deferred tax assets and liabilities, included primarily in “other assets” on the consolidated balance sheets, are as follows:



	June 28, 2014			June 29, 2013
	(Thousands)
Deferred tax assets:
Federal, state and foreign tax loss carry-forwards	$	336,334		$	333,940
Inventories valuation	$	18,442		$	19,509
Receivables valuation	26,022			27,185
Various accrued liabilities and other	(1,673		)	33,031
	379,125			413,665
Less — valuation allowance	(182,123		)	(230,821		)
	197,002			182,844
Deferred tax liabilities:
Depreciation and amortization of property, plant and equipment	(46,294		)	(50,469		)
Net deferred tax assets	$	150,708		$	132,375

The change in valuation allowances from fiscal 2013 to fiscal 2014 was primarily due to (i) a net reduction of $52.7 million primarily due to the above mentioned release of a valuation allowance in EMEA, $33.4 million of which impacted the effective tax rate while the remainder was offset in deferred income taxes, and (ii) a net expense of $4.1 million primarily related to rate changes on valuation allowances previously established in various foreign jurisdictions.

As of June 28, 2014, the Company had foreign net operating loss carry-forwards of approximately $1.25 billion, of which $6.2 million will expire during fiscal 2015 and 2016, substantially all of which have full valuation allowances, $278.4 million have expiration dates ranging from fiscal 2017 to 2034 and the remaining $961.3 million have no expiration date. The carrying value of the Company’s foreign net operating loss carry-forwards is dependent upon the Company’s ability to generate sufficient future taxable income in certain foreign tax jurisdictions. In addition, the Company considers historic levels of income or losses, expectations and risk associated with estimates of future taxable income and ongoing prudent and feasible tax planning strategies in assessing a tax valuation allowance.

Estimated liabilities for unrecognized tax benefits are included in “accrued expenses and other” and “other liabilities” on the consolidated balance sheets. These contingent liabilities relate to various tax matters that result from uncertainties in the application of complex income tax regulations in the numerous jurisdictions in which the Company operates. The change in such liabilities during fiscal 2014 is primarily due to favorable audit settlements, which are included in the “reductions for tax positions taken in prior periods” caption in the following table. As of June 28, 2014, unrecognized tax benefits were $128.2 million, of which approximately $112.2 million, if recognized, would favorably impact the effective tax rate and the remaining balance would be substantially offset by valuation allowances. As of June 29, 2013, unrecognized tax benefits were $123.9 million, of which approximately $117.7 million, if recognized, would favorably impact the effective tax rate, and the remaining balance would be substantially offset by valuation allowances. The estimated liability for unrecognized tax benefits included accrued interest expense and penalties of $25.3 million and $25.0 million, net of applicable state tax benefit, as of the end of fiscal 2014 and 2013, respectively.

Reconciliations of the beginning and ending liability balances for unrecognized tax benefits are as follows:



	June 28, 2014			June 29, 2013
	(Thousands)
Balance at beginning of year	$	123,930		$	146,626
Additions for tax positions taken in prior periods, including interest	15,966			11,732
Reductions for tax positions taken in prior periods, including interest	(880		)	(33,776		)
Additions for tax positions taken in current period	8,364			7,445
Reductions related to settlements with taxing authorities	(14,250		)	(9,064		)
Reductions related to the lapse of applicable statutes of limitations	(7,571		)	(2,812		)
Adjustments related to foreign currency translation	2,662			3,779
Balance at end of year	$	128,221		$	123,930

The evaluation of income tax positions requires management to estimate the ability of the Company to sustain its position and estimate the final benefit to the Company. To the extent that these estimates do not reflect the actual outcome there could be an impact on the consolidated financial statements in the period in which the position is settled, the applicable statutes of limitations expire or new information becomes available as the impact of these events are recognized in the period in which they occur. It is difficult to estimate the period in which the amount of a tax position will change as settlement may include administrative and legal proceedings whose timing the Company cannot control. The effects of settling tax positions with tax authorities and statute expirations may significantly impact the estimate for unrecognized tax benefits. Within the next twelve months, management estimates that approximately $21.5 million of these liabilities for unrecognized tax benefits will be settled by the expiration of the statutes of limitations or through through agreement with the tax authorities for tax positions related to valuation matters and positions related to acquired entities; such matters are common to multinational companies. The expected cash payment related to the settlement of these contingencies is $7.8 million.

The Company conducts business globally and consequently files income tax returns in numerous jurisdictions including those listed in the following table. It is also routinely subject to audit in these and other countries. The Company is no longer subject to audit in its major jurisdictions for periods prior to fiscal year 2008. The years remaining subject to audit, by major jurisdiction, are as follows:



Jurisdiction		Fiscal Year
United States (federal and state)		2012 - 2014
Belgium		2010 - 2014
Germany, Taiwan and United Kingdom		2009 -2014
Netherlands, Singapore and Hong Kong		2008 -2014

Pension and retirement plans

12 Months Ended

Jun. 28, 2014

Compensation and Retirement Disclosure [Abstract]

Pension and retirement plans

Pension Plan

The Company’s noncontributory defined benefit pension plan (the “Plan”) covers substantially all domestic employees. Employees are eligible to participate in the Plan following the first year of service during which they worked at least 1,000 hours. The Plan provides defined benefits pursuant to a cash balance feature whereby a participant accumulates a benefit based upon a percentage of current salary, which varies with age, and interest credits. The Company uses its fiscal year end as the measurement date for determining pension expense and benefit obligations for each fiscal year. The disclosures below do not include the pension plans of certain non-U.S. subsidiaries and other defined benefit plans, which are not considered material.

The following table outlines changes in benefit obligations, plan assets and the funded status of the Plan as of the end of fiscal 2014 and 2013:



	June 28, 2014			June 29, 2013
	(Thousands)
Changes in benefit obligations:
Benefit obligations at beginning of year	$	391,880		$	375,156
Service cost	36,733			36,920
Interest cost	17,155			14,653
Actuarial loss (gain)	34,726			(13,545		)
Benefits paid	(23,327		)	(21,304		)
Benefit obligations at end of year	$	457,167		$	391,880
Changes in plan assets:
Fair value of plan assets at beginning of year	$	365,373		$	301,449
Actual return on plan assets	67,914			45,228
Benefits paid	(23,327		)	(21,304		)
Contributions	40,000			40,000
Fair value of plan assets at end of year	$	449,960		$	365,373
Funded status of the plan recognized as a non-current liability	$	(7,207	)	$	(26,507	)
Amounts recognized in accumulated other comprehensive income:
Unrecognized net actuarial losses	$	158,103		$	173,069
Unamortized prior service credits	(6,050		)	(7,623		)
	$	152,053		$	165,446
Other changes in plan assets and benefit obligations recognized in other comprehensive income:
Net actuarial gain	$	(2,280	)	$	(30,870	)
Amortization of net actuarial losses	(12,686		)	(14,898		)
Amortization of prior service credits	1,573			1,573
	$	(13,393	)	$	(44,195	)

The Plan was amended effective June 1, 2012 to improve pre-retirement death benefits so that the pre-retirement death benefits will be payable without regard to marital status, and will be based on 100% of the participant's vested cash account. The increase in liability was recognized as a prior service cost and amortization began in fiscal year 2013.

Included in accumulated other comprehensive income at June 28, 2014 is pre-tax expense of $158.1 million of net actuarial losses which have not yet been recognized in net periodic pension cost, of which $13.0 million is expected to be recognized as a component of net periodic pension cost during fiscal 2015. Also included is a pre-tax benefit of $6.1 million of prior service credits which have not yet been recognized in net periodic pension costs, of which $1.6 million is expected to be recognized as a component of net periodic pension costs during fiscal 2015.

Weighted average assumptions used to calculate actuarial present values of benefit obligations are as follows:



	2014	2013
Discount rate	4.00%	4.50%

The discount rate selected by the Company for the Plan reflects the current rate at which the underlying liability could be settled at the measurement date as of June 28, 2014. The selected discount rate is based primarily upon an average rate determined by matching the expected cash outflows of the Plan to a yield curve constructed from a portfolio of highly rated (minimum AA rating) fixed-income debt instruments with maturities consistent with the expected cash outflows.

Weighted average assumptions used to determine net benefit costs are as follows:



	2014	2013
Discount rate	4.50%	4.00%
Expected return on plan assets	8.50%	8.50%

Components of net periodic pension cost during the last three fiscal years are as follows:



	Years Ended
	June 28, 2014			June 29, 2013			June 30, 2012
	(Thousands)
Service costs	$	36,733		$	36,920		$	28,380
Interest costs	17,155			14,653			14,925
Expected return on plan assets	(30,908		)	(27,905		)	(26,938		)
Recognized net actuarial losses	12,686			14,898			9,680
Amortization of prior service credits	(1,573		)	(1,573		)	(1,875		)
Net periodic pension cost	$	34,093		$	36,993		$	24,172

The Company made $40.0 million of contributions in fiscal 2014 and fiscal 2013 and expects to make approximately $40.0 million of contributions in fiscal 2015.

Benefit payments are expected to be paid to Plan participants as follows for the next five fiscal years and the aggregate for the five years thereafter (in thousands):



2015	$	31,997
2016	26,982
2017	30,786
2018	34,646
2019	39,082
2020 through 2024	273,509

The Plan’s assets are held in trust and were allocated as follows as of the measurement date at the end of fiscal 2014 and 2013:



	2014		2013
Equity securities	75	%	75	%
Fixed income debt securities	24	%	24	%
Cash and cash equivalents	1	%	1	%

The general investment objectives of the Plan are to maximize returns through a diversified investment portfolio in order to earn annualized returns that meet the long-term cost of funding the Plan’s pension obligations while maintaining reasonable and prudent levels of risk. The target rate of return on Plan assets is currently 8.5%, which represents the average rate of earnings expected on the funds invested or to be invested to provide for the benefits included in the benefit obligation. This assumption has been determined by combining expectations regarding future rates of return for the investment portfolio along with the historical and expected distribution of investments by asset class and the historical rates of return for each of those asset classes. The mix of equity securities is typically diversified to obtain a blend of domestic and international investments covering multiple industries. The Plan assets do not include any material investments in Avnet common stock. The Plan’s investments in debt securities are also diversified across both public and private fixed income securities. The Company’s current target allocation for the investment portfolio is for equity securities, both domestic and international, to represent approximately 76.0% of the portfolio with a policy for minimum investment in equity securities of approximately 60.0% of the portfolio and a maximum of approximately 92.0%. The majority of the remaining portfolio of investments is to be invested in fixed income debt securities.

The following table sets forth the fair value of the Plan's investments as of June 28, 2014:



	Level 1		Level 2		Level 3		Total
	(Thousands)
Cash and cash equivalents	$	3,025	$	—	$	—	$	3,025
Equities:
U.S. common stocks	—		267,741		—		267,741
International common stocks	—		71,273		—		71,273
Fixed Income:
U.S. government agencies	—		10,439		—		10,439
U.S. corporate bonds	—		97,482		—		97,482
Total	$	3,025	$	446,935	$	—	$	449,960

The following table sets forth the fair value of the Plan's investments as of June 29, 2013:



	Level 1		Level 2		Level 3		Total
	(Thousands)
Cash and cash equivalents	$	3,032	$	—	$	—	$	3,032
Equities:
U.S. common stocks	—		219,225		—		219,225
International common stocks	—		56,458		—		56,458
Fixed Income:
U.S. government agencies	—		10,004		—		10,004
U.S. corporate bonds	—		76,654		—		76,654
Total	$	3,032	$	362,341	$	—	$	365,373

The fair value of Plan’s investments in equity and fixed income investments are stated at unit value, or the equivalent of net asset value, which is a practical expedient for estimating the fair values of those investments. Each of these investments may be redeemed daily without notice and there were no material unfunded commitments as of June 28, 2014.

The fixed income investments provide a steady return with medium volatility and assist with capital preservation and income generation. The equity investments have higher expected volatility and return than the fixed income investments.

Operating leases

12 Months Ended

Jun. 28, 2014

Leases [Abstract]

Operating leases

The Company leases many of its operating facilities and is also committed under lease agreements for transportation and operating equipment. Rent expense charged to operating expenses during the last three fiscal years is as follows:



	Years Ended
	June 28, 2014		June 29, 2013		June 30, 2012
	(Thousands)
Rent expense under operating leases	$	106,620	$	94,087	$	92,624

The aggregate future minimum operating lease commitments, principally for buildings, in fiscal 2015 through 2019 and thereafter, are as follows (in thousands):



2015	$	91,242
2016	69,823
2017	55,204
2018	39,359
2019	29,846
Thereafter	92,015
Total	$	377,489

The preceding table includes the remaining operating lease commitments that are included as a component of the Company’s restructuring liabilities (see Note 17).

Stock Based Compensation Plans

12 Months Ended

Jun. 28, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-based compensation plans

Stock-based compensation

The Company measures all stock-based payments at fair value and recognizes related expense within operating expenses in the consolidated statements of operations over the requisite service period (generally the vesting period). During fiscal 2014, 2013, and 2012, the Company recorded stock-based compensation expense of $45.9 million, $43.7 million and $35.7 million, respectively, for all forms of stock-based compensation awards.

Stock plan

At June 28, 2014, the Company had 11.3 million shares of common stock reserved for stock-based awards, which consisted of 1.8 million for stock options granted but not yet vested and vested but not yet exercised, 6.4 million available for future awards under plans approved by shareholders, 2.8 million for restricted stock incentive and performance shares granted but not yet vested, and 0.4 million shares available for future award under the Company's Employee Stock Purchase Plan ("ESPP").

Stock options

Stock option grants have a contractual life of ten years, vest in 25% increments on each anniversary of the grant date, commencing with the first anniversary, and require an exercise price of 100% of the fair market value at the date of grant. Stock-based compensation expense associated with stock options during fiscal 2014, 2013 and 2012 was $4.7 million, $4.0 million and $3.1 million, respectively.

The fair value of stock options is estimated as of the date of grant using the Black-Scholes model based on the assumptions in the following table. The assumption for the expected term is based on evaluations of historical and expected future employee exercise behavior. The risk-free interest rate is based on U.S. Treasury rates as of the date of grant with maturity dates approximately equal to the expected term at the grant date. The historical volatility of Avnet’s common stock is used as the basis for the volatility assumption. The Company estimates dividend yield based upon expectations of future dividends as of the grant date.



	Years Ended
	June 28, 2014		June 29, 2013		June 30, 2012
Expected term (years)	6.0		6.0		6.0
Risk-free interest rate	1.7	%	0.9	%	1.2	%
Weighted average volatility	34.3	%	35.0	%	33.7	%
Dividend yield	1.5	%	0.0	%	0.0	%

The following is a summary of the changes in outstanding options for fiscal 2014:



	Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life
Outstanding at June 29, 2013	2,579,188		$	26.65	70 Months
Granted	417,692		39.04		109 Months
Exercised	(1,185,004	)	24.65		40 Months
Forfeited or expired	(2,700	)	17.47		3 Months
Outstanding at June 28, 2014	1,809,176		$	30.84	81 Months
Exercisable at June 28, 2014	820,520		$	27.40	61 Months

The weighted-average grant-date fair values of stock options granted during fiscal 2014, 2013 and 2012 were $11.45, $11.33 and $9.67, respectively.

At June 28, 2014, the aggregate intrinsic value of all outstanding stock option awards was $23.3 million and all exercisable stock options awards was $13.4 million.

The following is a summary of the changes in non-vested stock options for the fiscal year ended June 28, 2014:



	Shares		Weighted Average Grant-Date Fair Value
Non-vested stock options at June 29, 2013	944,290		$	10.21
Granted	417,692		11.45
Vested	(373,326	)	9.87
Forfeited	—		—
Non-vested stock options at June 28, 2014	988,656		$	10.86

As of June 28, 2014, there was $2.6 million of total unrecognized compensation cost related to stock options, which is expected to be recognized over a weighted-average period of 2.2 years. The total fair value of shares vested, as of the vesting dates, during fiscal 2014, 2013 and 2012 were $3.7 million, $3.4 million and $3.6 million, respectively.

Cash received from stock option exercises during fiscal 2014, 2013 and 2012 totaled $4.7 million, $2.1 million, and $2.4 million, respectively. The impact of these cash receipts is included in “Other, net” as financing activity in the accompanying consolidated statements of cash flows.

Restricted incentive shares

Delivery of restricted incentive shares, and the associated compensation expense, is spread equally over the vesting period and is generally subject to the employee’s continued service and employment by the Company, except for employees who are retirement eligible. As of June 28, 2014, 2.0 million shares previously awarded have not yet vested. Stock-based compensation expense associated with restricted incentive shares was $34.4 million, $26.8 million and $21.0 million for fiscal years 2014, 2013 and 2012, respectively.

The following is a summary of the changes in non-vested restricted incentive shares for the fiscal year ended June 28, 2014:



	Shares		Weighted Average Grant-Date Fair Value
Non-vested restricted incentive shares at June 29, 2013	2,009,510		$	29.62
Granted	1,060,152		39.05
Vested	(972,420	)	31.33
Forfeited	(95,355	)	$	33.54
Non-vested restricted incentive shares at June 28, 2014	2,001,887		$	33.60

As of June 28, 2014, there was $51.7 million of total unrecognized compensation expense related to non-vested restricted incentive shares, which is expected to be recognized over a weighted-average period of 2.3 years. The total fair value of restricted incentive shares vested during fiscal 2014, 2013 and 2012 was $30.5 million, $25.4 million and $19.5 million, respectively.

Performance shares

Eligible employees, including Avnet’s executive officers, may receive a portion of their long-term stock-based incentive compensation through the performance share program, which allows for the vesting of shares based upon achievement of certain performance-based criteria (“Performance Share Program”). The Performance Share Program provides for the vesting to each grantee of a number of shares of Avnet’s common stock at the end of a three-year period based upon the Company’s achievement of certain performance goals established by the Compensation Committee of the Board of Directors for each Performance Share Program three-year period. The performance goals consist of measures of economic profit and total shareholder return.

During fiscal 2014, 2013 and 2012, the Company granted 0.2 million, 0.3 million and 0.3 million performance shares, respectively, of which approximately none have been forfeited. The actual amount of performance shares vested at the end of each three-year period is measured based upon the level of achievement of the defined performance goals and can range from 0% to 200% of the initial award grant. During fiscal 2014, 2013 and 2012, the Company recognized stock-based compensation expense associated with the Performance Share Program of $5.8 million, $11.9 million and $10.5 million, respectively.

Director stock-based compensation

Non-employee directors are awarded shares equal to a fixed dollar amount of Avnet common stock upon their re-election each year, as part of their director compensation. Directors may elect to receive this compensation in the form of common stock or they may elect to defer their compensation to be paid in common stock at a later date. During fiscal 2014, 2013 and 2012, compensation expense associated with the outside director stock-based compensation plan was $1.0 million, $1.0 million and $1.1 million, respectively.

Employee stock purchase plan

The Company has an Employee Stock Purchase Plan ("ESPP") under the terms of which eligible employees of the Company are allowed to purchase shares of Avnet common stock at a price equal to 95% of the fair market value on the last day of each monthly offering period. The ESPP is not compensatory based on its terms.

The Company has a policy of repurchasing shares on the open market to satisfy shares purchased by employees under the ESPP, and expects future repurchases during fiscal 2015 to be similar to the number of shares repurchased during fiscal 2014, based on current estimates of participation in the ESPP program. During each of fiscal 2014, 2013 and 2012, 0.06 million shares of common stock were purchased under the ESPP program.

Commitments and contingencies	12 Months Ended
Commitments and contingencies	Jun. 28, 2014
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Commitments and contingencies Bell During fiscal 2011, the Company recognized a contingent liability for potential unpaid import duties associated with the acquisition of Bell. Prior to the acquisition of Bell by Avnet, Customs and Border Protection (“CBP”) initiated a review of the importing process at one of Bell’s subsidiaries and identified compliance deficiencies. Subsequent to the acquisition of Bell by Avnet, CBP began a compliance audit. The Company evaluated projected duties, interest and penalties that potentially may be imposed as a result of the audit and recognized a contingent liability of $10.0 million which was recorded to goodwill in fiscal 2011. Depending on the ultimate resolution of the matter with CBP, the Company estimates that the range of the potential exposure associated with the liability may be up to $73.0 million; however, the Company believes the contingent liability recorded is a reasonable estimate of the liability based upon the facts currently available at this time. LCD Class Action Settlement The Company filed a proof of claim in the settlement of a class action proceeding that sought damages from certain manufacturers of LCD flat panel displays. A settlement was reached in the proceedings and in the first quarter of fiscal 2014 the federal district judge overseeing the proceeding issued an order approving the distribution of settlement funds to the class claimants and the Company received an award payment of $19.1 million. In the third quarter of fiscal 2014, the federal district judge overseeing the proceedings issued an order approving a final distribution of funds and the Company received a final award payment of $3.0 million. The total award of $22.1 million is classified within "gain on legal settlement, bargain purchase and other" in the consolidated statements of operations. Other 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 ongoing matters will have a material adverse effect on the Company’s financial condition, liquidity or results of operations.

Earnings per share

12 Months Ended

Jun. 28, 2014

Earnings Per Share [Abstract]

Earnings per share



	Years Ended
	June 28, 2014		June 29, 2013		June 30, 2012
	(Thousands, except per share data)
Numerator:
Net income	$	545,604	$	450,073	$	567,019
Denominator:
Weighted average common shares for basic earnings per share	137,991		137,951		147,278
Net effect of dilutive stock options, restricted incentive shares and performance shares	2,128		2,052		2,275
Weighted average common shares for diluted earnings per share	140,119		140,003		149,553
Basic earnings per share	$	3.95	$	3.26	$	3.85
Diluted earnings per share	$	3.89	$	3.21	$	3.79

None of the Company's outstanding stock options were excluded from the calculation of diluted earnings per share in fiscal 2014. Options to purchase 0.6 million and 0.2 million shares for fiscal years 2013 and 2012, respectively, were excluded from the calculations of diluted earnings per shares because the exercise price for those options was above the average market price of the Company’s stock during such fiscal years. Inclusion of these options in the respective diluted earnings per share calculations would have had an anti-dilutive effect.

Additional cash flow information

12 Months Ended

Jun. 28, 2014

Additional Cash Flow Elements and Supplemental Cash Flow Information [Abstract]

Additional cash flow information

The "Other, net" component of non-cash and other reconciling items within operating activities in the consolidated statements of cash flows consisted of the following:



	Years Ended
	June 28, 2014		June 29, 2013		June 30, 2012
	(Thousands)
Provision for doubtful accounts receivable	$	17,943	$	30,802	$	35,632
Periodic pension cost (Note 10)	34,093		36,993		24,172
Other, net	36,651		7,532		6,459
Total	$	88,687	$	75,327	$	66,263

Interest and income taxes paid during the last three fiscal years were as follows:



	Years Ended
	June 28, 2014		June 29, 2013		June 30, 2012
	(Thousands)
Interest	$	111,608	$	106,735	$	89,529
Income taxes	$	181,117	$	141,196	$	192,717

The Company includes book overdrafts as part of accounts payable on its consolidated balance sheets and reflects changes in such balances as part of cash flows from operating activities in its consolidated statements of cash flows.

Segment information

12 Months Ended

Jun. 28, 2014

Segment Reporting [Abstract]

Segment information

Electronics Marketing and Technology Solutions are the Company's reportable segments ("operating groups").

EM markets and sells semiconductors and interconnect, passive and electromechanical devices and embedded products. EM markets and sells its products and services to a diverse customer base serving many end-markets including automotive, communications, computer hardware and peripheral, industrial and manufacturing, medical equipment, and defense and aerospace. EM also offers an array of value-added services that help customers evaluate, design-in and procure electronic components throughout the lifecycle of their technology products and systems. By working with EM, customers and suppliers can accelerate their time to market and realize cost efficiencies in both the design and manufacturing process.

As a leading global IT solutions distributor, TS focuses on the value-added distribution of enterprise computing servers and systems, software, storage, services and complex solutions from the world’s foremost technology manufacturers. TS partners with its customers and suppliers to create and deliver effective data center and IT lifecycle solutions that solve the business challenges of end-user customers locally and around the world. TS serves a number of customer segments, from VARs, system integrators and independent software vendors to the worldwide OEM market for computing technology and non-PC OEMs requiring embedded systems and solutions including engineering, product prototyping, integration and other value-added services. TS also provides the latest hard disk drives, microprocessor, motherboard and DRAM module technologies to manufacturers of general-purpose computers and system builders.

At the beginning of fiscal 2014, the Company began excluding amortization expense associated with acquired intangible assets from the operating income of the EM and TS operating groups in order to measure such operating results consistent with how many technology companies measure operating performance and given that such amortization expense is non-cash in nature. As a result of this change, prior period segment information has been recast to conform to the new measure of profitability used during fiscal 2014. The change in the measure of operating group profitability did not impact the determination of the Company’s operating groups or the previously reported consolidated financial results.

At the beginning of fiscal 2014, a portion of the Company's reverse logistics operations, which was previously included in the EM operating group, was combined within the TS operating group. The Company also combined its regional computing components operations within EM and TS into a single global organization within TS. As a result of these changes, sales, operating income and assets previously reported in the EM operating group in fiscal 2013 have been included within the TS operating group in fiscal 2014. The Company does not view the amount of sales, operating income, or assets of such transferred operations to be a material change to the composition of its operating groups for financial reporting purposes. Sales related to such transferred operations reported in the EM operating group in fiscal 2013 were $443.3 million. The transfer of such operations between operating groups did not impact the determination of the Company’s operating groups or the previously reported consolidated financial results.



	Years Ended
	June 28, 2014			June 29, 2013			June 30, 2012
	(Millions)
Sales:
Electronics Marketing	$	16,544.4		$	15,094.4		$	14,933.1
Technology Solutions	10,955.3			10,364.5			10,774.4
	$	27,499.7		$	25,458.9		$	25,707.5
Operating income (loss):
Electronics Marketing	$	747.9		$	635.7		$	759.6
Technology Solutions	317.8			299.1			338.9
Corporate	(134.4		)	(126.9		)	(112.9		)
	931.3			807.9			985.6
Restructuring, integration and other expenses (Note 17)	(94.6		)	(149.5		)	(73.6		)
Amortization of acquired intangible assets and other	(46.8		)	(32.4		)	(27.8		)
	$	789.9		$	626.0		$	884.2
Assets:
Electronics Marketing	$	6,840.2		$	6,316.3		$	6,024.3
Technology Solutions	4,140.2			3,838.4			3,738.5
Corporate	275.1			320.0			405.1
	$	11,255.5		$	10,474.7		$	10,167.9
Capital expenditures:
Electronics Marketing	$	38.0		$	24.1		$	58.5
Technology Solutions	43.8			26.6			41.3
Corporate	41.4			46.7			28.8
	$	123.2		$	97.4		$	128.6
Depreciation & amortization expense:
Electronics Marketing	$	48.8		$	51.8		$	38.9
Technology Solutions	59.0			47.3			39.2
Corporate	29.4			21.6			23.2
	$	137.2		$	120.7		$	101.3
Sales, by geographic area:
Americas⁽¹⁾	$	10,929.5		$	10,716.6		$	11,499.3
EMEA⁽²⁾	8,246.1			7,277.9			7,408.9
Asia/Pacific⁽³⁾	8,324.1			7,464.4			6,799.3
	$	27,499.7		$	25,458.9		$	25,707.5
Property, plant and equipment, net, by geographic area:
Americas⁽⁴⁾	$	306.2		$	283.0		$	278.5
EMEA⁽⁵⁾	199.4			177.9			150.8
Asia/Pacific	29.4			31.7			31.9
	$	535.0		$	492.6		$	461.2

______________________


(1)	Includes sales in the United States of $9.68 billion, $9.43 billion and $10.00 billion for fiscal 2014, 2013 and 2012, respectively.


(2)	Includes sales in Germany and the United Kingdom of $3.31 billion and $1.36 billion, respectively, for fiscal 2014. Includes sales in Germany and the United Kingdom of $2.78 billion and $1.22 billion, respectively, for fiscal 2013. Includes sales in Germany and the United Kingdom of $2.60 billion and $1.40 billion, respectively, for fiscal 2012.

(3)

Includes sales of $2.63 billion, $2.93 billion and $1.19 billion in Taiwan, China (including Hong Kong) and Singapore, respectively, for fiscal 2014. Includes sales of $2.28 billion, $2.44 billion and $1.16 billion in Taiwan, China (including Hong Kong) and Singapore, respectively, for fiscal 2013. Includes sales of $1.90 billion, $2.30 billion and $1.20 billion in Taiwan, China (including Hong Kong) and Singapore, respectively, for fiscal 2012.


(4)	Includes property, plant and equipment, net, of $298.1 million, $273.4 million and $266.7 million in the United States for fiscal 2014, 2013 and 2012, respectively.

(5)

Includes property, plant and equipment, net, of $95.5 million, $61.0 million, and $12.6 million in Germany, Belgium and the United Kingdom, respectively, for fiscal 2014. Fiscal 2013 includes property, plant and equipment, net, of $92.7 million in Germany, $45.1 million in Belgium and $13.1 million in the United Kingdom. Fiscal 2012 includes property, plant and equipment, net, of $90.6 million in Germany, $26.4 million in Belgium and $17.3 million in the United Kingdom.

Listed in the table below are the Company's major product categories and the related sales for each of the past three fiscal years:



	Years Ended
	June 28, 2014		June 29, 2013		June 30, 2012
	(Millions)
Semiconductors	$	13,160.9	$	13,720.8	$	13,461.6
Computer products	10,571.6		9,346.0		9,984.4
Connectors	794.7		687.6		667.5
Passives, electromechanical and other	2,972.5		1,704.5		1,594.0
	$	27,499.7	$	25,458.9	$	25,707.5

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 33
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 35
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 29
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599

+ Details

Restructuring, integration and other expenses

12 Months Ended

Jun. 28, 2014

Restructuring and Related Activities [Abstract]

Restructuring, integration and other expenses

Fiscal 2014

During fiscal 2014, the Company took certain actions in an effort to reduce future operating costs including activities necessary to achieve planned synergies from recently acquired businesses. In addition, the Company incurred integration and other costs primarily associated with acquired or divested businesses and for the consolidation of facilities. The following table presents the restructuring, integration and other expenses incurred during fiscal 2014:



	Year Ended
	June 28, 2014
	(Thousands)
Restructuring expenses	$	65,749
Integration costs	20,455
Other costs including acquisition costs	8,767
Changes in estimates for prior year restructuring liabilities	(348		)
Restructuring, integration and other expenses before tax	$	94,623
Restructuring, integration and other expenses after tax	$	70,773
Restructuring, integration and other expenses per share on a diluted basis	$	0.50

The activity related to the restructuring liabilities established during fiscal 2014 is presented in the following table:



	Severance			Facility Exit Costs and Asset Impairments			Other			Total
	(Thousands)
Fiscal 2014 restructuring expenses	$	53,260		$	11,608		$	881		$	65,749
Cash payments	(29,191		)	(3,028		)	(9		)	(32,228		)
Non-cash amounts	(260		)	(4,906		)	(538		)	(5,704		)
Other, principally foreign currency translation	(65		)	23			10			(32		)
Balance at June 28, 2014	$	23,744		$	3,697		$	344		$	27,785

Severance expense recorded in fiscal 2014 related to the reduction, or planned reduction, of over 1,100 employees, primarily in operations, sales and business support functions, in connection with cost reduction actions taken in both operating groups, including reductions in recently acquired or integrated businesses. Facility exit costs primarily consists of liabilities for remaining lease obligations and the impairment of long-lived assets for facilities and information technology systems the Company has ceased using. Other restructuring costs related primarily to other miscellaneous restructuring and exit costs. Of the $65.7 million in restructuring expenses recorded during fiscal 2014, $41.3 million related to EM, $23.1 million related to TS and $1.3 million related to corporate business support functions. As of June 28, 2014, management expects the majority of the remaining severance, facility exit costs and other liabilities to be paid by the end of fiscal 2015.

Integration costs are primarily related to the integration of acquired businesses, integration of regional business units and incremental costs incurred as part of the consolidation, relocation and closure of warehouse and office facilities. Integration costs include consulting costs for information technology system and business operation integration assistance, facility moving costs, legal fees, travel, meeting, marketing and communication costs that are incrementally incurred as a result of such integration activities. Also included in integration costs are incremental salary costs specific to integration, consolidation and closure activities. Other costs consists primarily of professional fees incurred for acquisitions, additional costs incurred for businesses divested or exited in current or prior periods, any ongoing facilities operating costs associated with the consolidation, relocation and closure of facilities once such facilities have been vacated or substantially vacated, and other miscellaneous costs that relate to restructuring, integration and other expenses. Integration and other costs in fiscal 2014 were comprised of many different costs, none of which were individually material.

Fiscal 2013

During fiscal 2013, the Company incurred restructuring expenses related to various restructuring actions intended to reduce costs in response to the then current market conditions. The following table presents the restructuring, integration and other expenses incurred during fiscal 2013:



	Year Ended
	June 29, 2013
	(Thousands)
Restructuring expenses	$	120,048
Integration costs	35,742
Other costs including acquisition costs	(3,224		)
Changes in estimates for prior year restructuring liabilities	(3,065		)
Restructuring, integration and other expenses before tax	$	149,501
Restructuring, integration and other expenses after tax	$	116,382
Restructuring, integration and other expenses per share on a diluted basis	$	0.83

The fiscal 2014 activity related to the remaining restructuring liabilities established during fiscal 2013 is presented in the following table:



	Severance			Facility Exit Costs and Asset Impairments			Other			Total
	(Thousands)
Balance at June 29, 2013	$	25,254		$	16,211		$	370		$	41,835
Cash payments	(20,137		)	(7,672		)	(326		)	(28,135		)
Changes in estimates, net	(2,283		)	(1,601		)	963			(2,921		)
Non-cash amounts	—			928			(485		)	443
Other, principally foreign currency translation	166			408			89			663
Balance at June 28, 2014	$	3,000		$	8,274		$	611		$	11,885

Of the $120.0 million in restructuring expenses recorded during fiscal 2013, $68.9 million related to EM, $48.0 million related to TS and $3.1 million related to corporate business support functions. As of June 28, 2014, management expects the majority of the remaining severance, facility exit and other liabilities to be utilized by the end of fiscal 2015.

Integration costs incurred related primarily to the integration of acquired businesses and incremental costs incurred as part of the consolidation and closure of certain office and warehouse facilities.

Other costs incurred during fiscal 2013 related primarily to professional fees for advisory services and legal and accounting due diligence procedures and other legal costs associated with acquisitions. Included in other costs is a benefit of $11.2 million related to a change in estimate for a contingent consideration liability for which payment was no longer expected.

Fiscal 2012

During fiscal 2012, the Company incurred expenses to reduce costs, including costs related to the acquisition and integration activities associated with acquired businesses as follows:



	Year Ended
	June 30, 2012
	(Thousands)
Restructuring expenses	$	50,253
Integration costs	9,392
Other costs including acquisition costs	17,226
Changes in estimates for prior year restructuring liabilities	(3,286		)
Restructuring, integration and other expenses before tax	$	73,585
Restructuring, integration and other expenses after tax	$	52,963
Restructuring, integration and other expenses per share on a diluted basis	$	0.35

Of the $50.3 million in restructuring expenses recorded during fiscal 2012, $27.5 million related to EM and $22.8 million related to TS.

Other costs incurred during fiscal 2012 related primarily to professional fees for advisory and broker services, legal and accounting due diligence, and other legal costs associated with acquisitions. Other costs also included $6.7 million for legal claims associated with acquired and divested businesses.

As of June 29, 2013, there was $4.7 million of restructuring liabilities remaining related to restructuring actions taken in fiscal years 2012 and prior, the majority of which relates to facility exit costs. The remaining balance for such historical restructuring liabilities as of June 28, 2014 was $1.2 million, which is expected to be paid by the end of fiscal 2016.

Valuation And Qualifying Acccounts

12 Months Ended

Jun. 28, 2014

Valuation and Qualifying Accounts [Abstract]

Valuation and Qualifying Accounts

SCHEDULE II

AVNET, INC. AND SUBSIDIARIES

VALUATION AND QUALIFYING ACCOUNTS

Years Ended June 28, 2014, June 29, 2013 and June 30, 2012



Account Description	Balance at Beginning of Period		Charged to Expense (Income)				Charged to Other Accounts				Deductions				Balance at End of Period
	(Thousands)
Fiscal 2014
Allowance for doubtful accounts	$	95,656	$	17,943			$	—			$	(17,217	)	(a)	$	96,382
Valuation allowance on foreign tax loss carry-forwards (Note 9)	230,821		(52,719		)	(b)	4,021			(c)	—				182,123
Fiscal 2013
Allowance for doubtful accounts	106,319		30,802				—				(41,465		)	(a)	95,656
Valuation allowance on foreign tax loss carry-forwards (Note 9)	244,093		(41,572		)	(d)	28,300			(e)	—				230,821
Fiscal 2012
Allowance for doubtful accounts	107,739		35,632				—				(37,052		)	(a)	106,319
Valuation allowance on foreign tax loss carry-forwards (Note 9)	310,772		(30,785		)		(35,894		)	(f)	—				244,093


(a)	Uncollectible receivables written off.


(b)	Represents a reduction primarily due to the release of valuation allowance in EMEA, of which $39.6 million impacted the effective tax rate offset by $6.0 million, which impacted deferred taxes associated with the release of the valuation allowance (see Note 9).


(c)	Primarily related to rate changes on valuation allowances previously established in various foreign jurisdictions.


(d)	Represents a reduction primarily due to the release of valuation allowance in EMEA, of which $31.9 million impacted the effective tax rate offset by $4.8 million, which impacted deferred taxes associated with the release of the valuation allowance (see Note 9).


(e)	Primarily related to additional valuation allowances for newly acquired companies and companies with a history of losses.


(f)	Primarily relates to the translation impact of changes in foreign currency exchange rates and acquired valuation allowances.

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 28, 2014
Accounting Policies [Abstract]
Principles of consolidation	Principles of consolidation — The accompanying consolidated financial statements include the accounts of Avnet, Inc. and all of its majority-owned and controlled subsidiaries (the "Company" or "Avnet"). All intercompany accounts and transactions have been eliminated.
Reclassifications	Reclassifications — Certain prior period amounts have been reclassified to conform to the current-period presentation.
Fiscal year	Fiscal year — The Company operates on a “52/53 week” fiscal year, which ends on the Saturday closest to June 30th. Fiscal 2014, 2013, and 2012 all contained 52 weeks. Unless otherwise noted, all references to “fiscal 2014” or any other “year” shall mean the Company’s fiscal year.
Management estimates	Management estimates — The preparation of financial statements in conformity with generally accepted accounting principles in the United States ("GAAP") requires management to make estimates and assumptions that affect certain reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of sales and expenses during the reporting period. Actual results could differ materially from those estimates.
Cash and cash equivalents	Cash and cash equivalents — The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents.
Inventories	Inventories — Inventories, comprised principally of finished goods, are stated at cost (first-in, first-out) or market, whichever is lower.
Investments	Investments — Investments in joint ventures and entities ("ventures") in which the Company has an ownership interest of greater than 50% and exercises control over the ventures are consolidated in the accompanying consolidated financial statements. Non-controlling interests in the years presented are not material and, as a result, are included in the caption “accrued expenses and other” in the accompanying consolidated balance sheets. Investments in ventures in which the Company exercises significant influence but not control are accounted for using the equity method. Investments in ventures in which the Company’s ownership interest is less than 20% and over which the Company does not exercise significant influence are accounted for using the cost method. The Company monitors ventures for events or circumstances that indicate that the fair value of a venture is less than its carrying value, in which case the Company would further review the venture to determine if it is other-than-temporarily impaired. During fiscal 2014, 2013 and 2012 the Company did not have any material investments in ventures.
Depreciation and amortization	Depreciation , amortization and useful lives — The Company reports property, plant and equipment at cost, less accumulated depreciation. Cost includes the price paid to acquire or construct the assets, required installation costs, interest capitalized during the construction period, and any expenditure that substantially adds to the value of or substantially extends the useful life of an existing asset. Additionally, the Company capitalizes qualified costs related to software obtained or developed for internal use. Software obtained for internal use has generally been enterprise-level business and finance software that is customized to meet the Company’s specific operational requirements. The Company begins depreciation and amortization ("depreciation") for property, plant and equipment when an asset is both in the location and condition for its intended use. Depreciation of property, plant, and equipment is generally provided for by the straight-line method over the estimated useful lives of the long-lived assets. The estimated useful lives for property, plant, and equipment are typically as follows: buildings — 30 years; machinery, fixtures and equipment — 2-10 years; information technology hardware and software — 2-10 years; and leasehold improvements — over the applicable remaining lease term or useful life if shorter. The Company amortizes intangible assets acquired in business combinations using the straight-line method over the estimated economic lives of the intangible assets from the date of acquisition, which is generally between 2-10 years.
Long-lived assets	Long-lived assets impairment — Long-lived assets, including property, plant and equipment and intangible assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. An impairment is recognized when the estimated undiscounted cash flows expected to result from the use of the asset group and its eventual disposition is less than its carrying amount. An impairment is measured as the amount by which an asset group's net book value exceeds its estimated fair value. For purposes of recognition and measurement of an impairment loss, long-lived assets are grouped with other assets and liabilities at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. The Company considers a long-lived asset to be abandoned when it has ceased use of such abandoned asset and if the Company has no intent to use or repurpose the asset in the future. The Company continually evaluates the carrying value and the remaining economic useful life of all long-lived assets and will adjust the carrying value and the related depreciation and amortization period if and when appropriate.
Goodwill	Goodwill — Goodwill represents the excess of the purchase price of acquired businesses over the estimated fair value assigned to the individual assets acquired and liabilities assumed. The Company does not amortize goodwill, but instead tests goodwill for impairment at least annually in the fourth quarter and, if necessary, records any impairment resulting from such impairment testing. Impairment testing is performed at the reporting unit level, and the Company has identified six reporting units, defined as each of the three regions (Americas, EMEA, and Asia Pacific) within the Company’s two reportable segments. The Company will perform an impairment test between scheduled annual tests if facts and circumstances indicate that it is more likely than not that the fair value of a reporting unit that has goodwill is less than its carrying value. In performing goodwill impairment testing, the Company may first make a qualitative assessment of whether it is more-likely-than-not that a reporting unit’s fair value is less than its carrying value to determine whether it is necessary to perform the two-step goodwill impairment test. If the qualitative assessment indicates it is more-likely-than-not that a reporting unit’s fair value is not greater than its carrying value, the Company must perform a two-step impairment test. The Company defines the fair value of a reporting unit as the price that would be received to sell the reporting unit as a whole in an orderly transaction between market participants at the measurement date. To determine fair value of a reporting unit, the Company primarily uses the income approach methodology of valuation, which includes the discounted cash flow method, and the market approach methodology of valuation, which considers values of comparable businesses to estimate the fair values of the Company’s reporting units. Significant management judgment is required when estimating the fair value of the Company’s reporting units from a market participant perspective including the forecasting of future operating results, the discount rates and expected future growth rates used in the discounted cash flow method of valuation, and in the selection of comparable businesses that are used in the market approach. If the estimated fair value of the reporting unit exceeds the carrying value assigned to that reporting unit, goodwill is not impaired and no further analysis is required. If the carrying value assigned to a reporting unit exceeds its estimated fair value in the first step, then the Company is required to perform the second step of the impairment test. In this step, the Company assigns the fair value of the reporting unit calculated in the first step to all of the assets and liabilities of that reporting unit, as if a market participant just acquired the reporting unit in a business combination. The excess of the fair value of the reporting unit determined in the first step of the impairment test over the total amount assigned to the assets and liabilities in the second step of the impairment test represents the implied fair value of goodwill. If the carrying value of a reporting unit’s goodwill exceeds the implied fair value of goodwill, the Company would record an impairment loss equal to the difference. If there is no such excess then all goodwill for a reporting unit is considered impaired.
Foreign currency translation	Foreign currency translation — The assets and liabilities of foreign operations are translated into U.S. Dollars at the exchange rates in effect at the balance sheet date, with the related translation adjustments reported as a separate component of shareholders’ equity and comprehensive income. Results of operations are translated using the average exchange rates prevailing throughout the period. Transactions denominated in currencies other than the functional currency of the Avnet subsidiaries that are party to the transactions (primarily trade receivables and payables) are translated at exchange rates in effect at the balance sheet date or upon settlement of the transaction. Gains and losses from such translation are recorded in the consolidated statements of operations as a component of “other income (expense), net.” In fiscal 2014, 2013 and 2012, gains or losses on foreign currency translation were not material.
Income taxes	Income taxes — The Company follows the asset and liability method of accounting for income taxes. Deferred income tax assets and liabilities are recognized for the estimated future tax impact of differences between the financial statement carrying amounts of assets and liabilities and their respective tax bases. Deferred income tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect on deferred income tax assets and liabilities of a change in tax rates is recognized in earnings in the period in which the new rate is enacted. Based upon historical and estimated levels of future taxable income and analysis of other key factors, the Company may increase or decrease a valuation allowance against its deferred tax assets, as deemed necessary, to state such assets at their estimated net realizable value. The Company establishes contingent liabilities for potentially unfavorable outcomes of positions taken on certain tax matters. These liabilities are based on management’s assessment of whether a tax benefit is more likely than not to be sustained upon examination by tax authorities. There may be differences between the estimated and actual outcomes of these matters that may result in future changes in estimates to such contingent liabilities. To the extent such changes in estimates are required, the Company’s effective tax rate may potentially fluctuate as a result. In accordance with the Company's accounting policies, accrued interest and penalties related to unrecognized tax benefits are recorded as a component of income tax expense.
Self-insurance	Self-insurance — In the United States, the Company is primarily self-insured for workers’ compensation, medical, and general, product and automobile liability costs; however, the Company also has stop-loss insurance policies in place to limit the Company’s exposure to individual and aggregate claims made. Liabilities for these programs are estimated based upon outstanding claims and claims estimated to be incurred but not yet reported based upon historical loss experience. These estimates are subject to variability due to changes in trends of losses for outstanding claims and incurred but not recorded claims, including external factors such as future inflation rates, benefit level changes and claim settlement patterns.
Revenue recognition	Revenue recognition —Revenue from the sale of products or services is recognized when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the sales price is fixed or determinable and collectability is reasonably assured. Generally, these criteria are met upon either shipment or delivery to customers, depending upon the sales terms. Most of the Company’s product sales come from products Avnet purchases from a supplier and holds in inventory. A portion of the Company’s sales are products shipped directly from its suppliers to its customers ("drop-ship"). In such drop-ship arrangements, Avnet negotiates the price with the customer, pays the supplier directly for the products shipped and bears credit risk of collecting payment from its customers. Furthermore, in such drop-shipment arrangements, the Company bears responsibility for accepting returns of products from the customer even if the Company, in turn, has a right to return the products to the original supplier if the products are defective. Under these sales terms, the Company serves as the principal with the customer and, therefore, recognizes the gross sale and cost of sale of the product upon shipment by the supplier. In addition, the Company has certain contractual relationships with a limited number of its customers and suppliers whereby Avnet assumes an agency relationship in the transaction. In such arrangements, the Company recognizes the net fee associated with serving as an agent in sales with no associated cost of sales. Revenues from maintenance contracts are recognized ratably over the life of the contracts, generally ranging from one to three years. Revenues are recorded net of discounts, rebates and estimated returns. Provisions are made for discounts and rebates, which are primarily timing or volume specific, and are estimated based on historical trends and anticipated customer buying patterns. Provisions for returns and other sales adjustments are estimated based on historical sales returns experience, credit memo experience and other known factors.
Vendor allowances and consideration	Vendor allowances and consideration — Consideration received from suppliers for price protection, product rebates, marketing/promotional activities, or any other programs are recorded when earned under the terms and conditions of such supplier programs as adjustments to product costs or selling, general and administrative expenses depending upon the nature and contractual requirements related to the consideration received. Some of these supplier programs may extend over one or more reporting periods and may require management to make estimates.
Comprehensive income	Comprehensive income — Comprehensive income represents net income for the year adjusted for certain changes in shareholders’ equity. Accumulated comprehensive income items impacting comprehensive income typically include currency translation and the impact of the Company’s pension liability adjustments, net of tax (see Note 4).
Share-based compensation	Stock-based compensation —The Company measures stock-based payments at fair value and generally recognizes the associated operating expense in the consolidated statement of operations over the requisite service period (see Note 12). A stock-based payment is considered vested for accounting expense attribution purposes when the employee's retention of the award is no longer contingent on providing continued service. Accordingly, the Company recognizes all stock-based compensation expense for an award on the grant date for awards granted to retirement eligible employees or over the period from the grant date to the date retirement eligibility is achieved, if less than the stated requisite service period. The expense attribution approach for retirement eligible employees does not affect the overall amount of compensation expense recognized, but instead accelerates the recognition of expense.
Restructuring and exit activities	Restructuring and Exit Activities — The Company accounts for employee termination benefits that represent a one-time benefit in accordance with ASC 420, Exit or Disposal Cost Obligations. If applicable, the Company records such costs into operating expense over the terminated employee’s future service period beyond any minimum retention period. Other costs associated with restructuring or exit activities may include contract termination costs including operating leases and impairments of long-lived assets, which are expensed in accordance with ASC 420 and ASC 360, respectively.
Business Combinations	Business Combinations — The Company accounts for business acquisitions using the acquisition method of accounting and records any identifiable definite-lived intangible assets separate from goodwill. Intangible assets are recorded at their fair value based on estimates as of the date of acquisition. Goodwill is recorded as the residual amount of the purchase price consideration less the fair value assigned to the individual identifiable assets acquired and liabilities assumed as of the date of acquisition. Contingent consideration, which represents an obligation of the acquirer to transfer additional assets or equity interests to the former owner as part of the exchange if specified future events occur or conditions are met, is accounted for at the acquisition date fair value either as a liability or as equity depending on the terms of the acquisition agreement.
Concentration of credit risk	Concentration of credit risk — Financial instruments that potentially subject the Company to a concentration of credit risk principally consist of cash and cash equivalents and trade accounts receivable. The Company invests its excess cash primarily in overnight Eurodollar time deposits and institutional money market funds with the highest rated financial institutions. To reduce credit risk, management performs ongoing credit evaluations of its customers’ financial condition and, in some instances, has obtained credit insurance coverage to reduce such risk. The Company maintains reserves for potential credit losses from customers, but has not historically experienced any material losses related to individual customers or groups of customers in any particular end market or geographic area.
Fair value of financial instruments	Fair value — The Company measures financial assets and liabilities at fair value based upon an exit price, representing the amount that would be received on the sale of an asset or paid to transfer a liability, in an orderly transaction between market participants. Accounting standards require inputs used in valuation techniques for measuring fair value on a recurring or non-recurring basis be assigned to a hierarchical level as follows: Level 1 are observable inputs that reflect quoted prices for identical assets or liabilities in active markets. Level 2 are observable market-based inputs or unobservable inputs that are corroborated by market data and Level 3 are unobservable inputs that are not corroborated by market data. During fiscal 2014, 2013, and 2012, there were no transfers of assets measured at fair value between the three levels of fair value hierarchy. The carrying amounts of the Company’s financial instruments, including cash and cash equivalents, receivables and accounts payable approximate their fair values at June 28, 2014 due to the short-term nature of these assets and liabilities. At June 28, 2014 and June 29, 2013, the Company had $19.7 million and $2.1 million, respectively, of cash equivalents that were measured at fair value based upon Level 1 criteria. See Note 7 for further discussion of the fair value of the Company’s long-term debt and Note 10 for a discussion of the fair value of the Company's pension plan assets.
Derivative financial instruments	Derivative financial instruments — Many of the Company’s subsidiaries purchase and sell products in currencies other than their functional currencies. This subjects the Company to the risks associated with fluctuations in foreign currency exchange rates. The Company reduces this risk by utilizing natural hedging (i.e., offsetting receivables and payables) as well as by creating offsetting positions through the use of derivative financial instruments, primarily forward foreign exchange contracts typically with maturities of less than 60 days ("economic hedges"). The Company continues to have exposure to foreign currency risks to the extent they are not economically hedged. The Company adjusts any economic hedges to fair value through the consolidated statements of operations primarily within "other income (expense), net." Therefore, the changes in valuation of the underlying items being economically hedged are offset by the changes in fair value of the forward foreign exchange contracts. The amounts representing the fair value of forward foreign exchange contracts, based upon Level 2 criteria under the fair value hierarchy, are classified in the captions “other current assets” or “accrued expenses and other,” as applicable, in the accompanying consolidated balance sheets and were not material as of June 28, 2014 and June 29, 2013. The Company did not have material gains or losses related to the forward foreign exchange contracts during fiscal 2014 and fiscal 2013. The Company does not hedge its investments in its foreign operations. The Company does not enter into derivative financial instruments for trading or speculative purposes and monitors the financial stability and credit standing of its counterparties.
Accounts receivable securitization	Accounts receivable securitization — The Company has an accounts receivable securitization program whereby the Company sells certain receivables and retains a subordinated interest and servicing rights to those receivables. The securitization program does not qualify for sales accounting and is accounted for as a secured financing as discussed further in Note 3.
Recently issued accounting pronouncements	Recently issued accounting pronouncements — In July 2013, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists ("ASU 2013-11"). ASU 2013-11 requires the netting of unrecognized tax benefits ("UTBs") against a deferred tax asset for a loss or other carryforward that would apply in settlement of the uncertain tax positions. UTBs are required to be netted against all available same-jurisdiction loss or other tax carryforwards, rather than only against carryforwards that are created by the UTBs. ASU 2013-11 is effective for years, including interim periods within those years, beginning after December 15, 2013. The adoption of ASU 2013-11 in the first quarter of fiscal 2015 is not expected to have a material impact on the Company's consolidated financial statements. In April 2014, the FASB issued Accounting Standards Update No. 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity ("ASU 2014-08"), which changes the criteria for determining which disposals should be presented as discontinued operations and the related disclosure requirements. ASU 2014-08 is effective for the Company on a prospective basis in the first quarter of fiscal 2016 with early adoption permitted for disposals (or classifications as held for sale) that have not been reported in financial statements previously issued. The adoption of ASU 2014-08 in the first quarter of fiscal 2016 is not expected to have a material impact on the Company's consolidated financial statements. In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers ("ASU 2014-09"), to supersede nearly all existing revenue recognition guidance under GAAP. The core principles of ASU 2014-09 are to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration that is expected to be received for those goods or services. Application of the requirements of ASU 2014-09 may require more judgment and estimates within the revenue recognition process compared to existing GAAP. ASU 2014-09 is effective for the Company in the first quarter of fiscal 2018 using either of two acceptable adoption methods: (i) retrospective adoption to each prior reporting period presented with the option to elect certain practical expedients as defined within ASU 2014-09; or (ii) adoption with the cumulative effect of initially applying ASU 2014-09 recognized at the date of initial application and providing certain additional disclosures as defined within ASU 2014-09. The Company is currently evaluating the potential impact of the future adoption of ASU 2014-09 on its consolidated financial statements.

Acquisitions and divestitures (Tables)

12 Months Ended

Jun. 28, 2014

Jun. 29, 2013

2014 Acquisitions [Member]

Business Acquisition [Line Items]

Schedule of Contingent Consideration

three businesses with historical annualized sales of approximately $492.0 million. Cash paid for acquisitions during fiscal 2014 was $116.9 million, net of cash acquired and contingent consideration. The Company has not disclosed the pro-forma impact of the fiscal 2014 acquisitions as such impact was not material.

The gross consideration for the acquisitions was $219.7 million, which consisted of the following (in thousands):



Cash paid	$	181,645
Contingent consideration	38,081
Total consideration	$	219,726

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed



	Acquisition Method Values
	(Thousands)
Cash	$	64,763
Receivables	36,216
Inventories	95,202
Other current assets	6,597
Property, plant and equipment and other non-current assets	28,155
Intangible assets	53,502
Total identifiable assets acquired	284,435

Accounts payable, accrued liabilities and other current liabilities	(66,848		)
Short-term debt	(45,942		)
Other long-term liabilities	(14,535		)
Total identifiable liabilities assumed	(127,325		)
Net identifiable assets acquired	157,110
Goodwill	62,616
Net assets acquired	$	219,726

2013 Acquisitions [Member]

Business Acquisition [Line Items]

Schedule of Contingent Consideration



Cash paid	$	297,484
Contingent consideration	11,467
Total consideration	$	308,951

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the respective acquisition dates (in thousands):



Cash	$	29,276
Receivables	226,743
Inventories	91,791
Other current assets	33,689
Property, plant and equipment	25,311
Other assets	47,292
Total identifiable assets acquired	454,102

Accounts payable, accrued liabilities and other current liabilities	(157,986		)
Long-term debt	(66,367		)
Other long-term liabilities	(45,640		)
Total identifiable liabilities assumed	(269,993		)
Net identifiable assets acquired	184,109
Goodwill	157,521
Bargain purchase recognized	(32,679		)
Net assets acquired	$	308,951

Business Acquisition, Pro Forma Information

Supplemental information on an unaudited pro forma basis, as if the fiscal 2013 acquisitions had been consummated as of July 3, 2011, is presented as follows:



	Pro Forma Results For Years Ended
	June 29, 2013		June 30, 2012
	(Millions)
Sales	$	25,771	$	26,872
Net income	$	454	$	587

2012 Acquisitions [Member]

Business Acquisition [Line Items]

Schedule of Contingent Consideration



Cash paid	$	390,410
Contingent consideration	23,175
Total consideration	$	413,585

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the respective acquisition dates (in thousands):



Cash	$	75,016
Receivables	132,195
Inventories	59,463
Other current assets	23,936
Property, plant and equipment	9,729
Other assets	104,368
Total identifiable assets acquired	404,707

Accounts payable, accrued liabilities and other current liabilities	(230,747		)
Other long-term liabilities	(2,483		)
Total liabilities assumed	(233,230		)
Net identifiable assets acquired	171,477
Goodwill	246,425
Bargain purchase recognized	(4,317		)
Net assets acquired	$	413,585

Business Acquisition, Pro Forma Information

Supplemental information on an unaudited pro forma basis, as if the acquisitions had been consummated as of July 3, 2011, is presented as follows:



	Pro Forma Results For Year Ended
	June 30, 2012
	(Millions)
Sales	$	26,052
Net income	$	568

Shareholders' Equity Accumulated Comprehensive Income (Loss) (Tables)

12 Months Ended

Jun. 28, 2014

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table includes the balances within accumulated other comprehensive income (loss):



	June 28, 2014			June 29, 2013			June 30, 2012
	(Thousands)
Accumulated translation adjustments and other	$	244,149		$	135,395		$	90,798
Accumulated pension liability adjustments, net of income taxes	(104,637		)	(106,500		)	(136,630		)
Total accumulated other comprehensive income (loss)	$	139,512		$	28,895		$	(45,832	)

Property plant and equipment, net (Tables)

12 Months Ended

Jun. 28, 2014

Property, Plant and Equipment [Abstract]

Summary of Property, plant and equipment

Property, plant and equipment are recorded at cost and consist of the following:



	June 28, 2014			June 29, 2013
	(Thousands)
Buildings	$	132,291		$	141,886
Machinery, fixtures and equipment	266,416			213,317
Information technology hardware and software	699,466			628,026
Leasehold improvements	118,907			102,301
Depreciable property, plant and equipment, gross	1,217,080			1,085,530
Accumulated depreciation	(783,485		)	(691,980		)
Depreciable property, plant and equipment, net	433,595			393,550
Land	31,730			24,834
Construction in progress	69,674			74,222
Property, plant and equipment, net	$	534,999		$	492,606

Goodwill and intangible assets (Tables)

12 Months Ended

Jun. 28, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The following table presents the change in goodwill balances by reportable segment for fiscal year 2014. All of the accumulated impairment was recognized in fiscal 2009.



	Electronics Marketing			Technology Solutions			Total
	(Thousands)
Gross goodwill	$	1,646,940		$	994,082		$	2,641,022
Accumulated impairment	(1,045,110		)	(334,624		)	(1,379,734		)
Carrying value at June 29, 2013	601,830			659,458			1,261,288
Additions	51,994			10,622			62,616
Adjustments	2,039			552			2,591
Foreign currency translation	12,594			9,379			21,973
Carrying value at June 28, 2014	$	668,457		$	680,011		$	1,348,468
Gross goodwill	$	1,713,567		$	1,014,635		$	2,728,202
Accumulated impairment	(1,045,110		)	(334,624		)	(1,379,734		)
Carrying value at June 28, 2014	$	668,457		$	680,011		$	1,348,468

Schedule of Finite-Lived Intangible Assets by Major Class

The following table presents the Company’s identifiable intangible assets, which have a weighted average life of approximately 8 years for each fiscal year presented:



	June 28, 2014							June 29, 2013
	Gross Acquired Amount		Accumulated Amortization			Net Book Value		Gross Acquired Amount		Accumulated Amortization			Net Book Value
	(Thousands)
Customer relationships	$	319,496	$	(155,604	)	$	163,892	$	276,107	$	(109,946	)	$	166,161
Trade name	5,993		(1,555		)	4,438		3,320		(480		)	2,840
Other	18,833		(2,855		)	15,978		4,177		(966		)	3,211
	$	344,322	$	(160,014	)	$	184,308	$	283,604	$	(111,392	)	$	172,212

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

The following table presents the estimated future amortization expense for the next five fiscal years and thereafter (in thousands):



Fiscal Year	Amortization Expense
2015	$	41,458
2016	35,512
2017	33,478
2018	24,900
2019	20,756
Thereafter	28,204
Total	$	184,308

External financing (Tables)

12 Months Ended

Jun. 28, 2014

Debt Disclosure [Abstract]

Components of short-term debt

Short-term debt consists of the following:



	June 28, 2014		June 29, 2013
	(Thousands)
Bank credit facilities and other	$	250,088	$	178,240
Accounts receivable securitization program (Note 3)	615,000		360,000
Current portion of long-term debt	—		299,950
Short-term debt	$	865,088	$	838,190

Components of long-term debt

Long-term debt consists of the following:



	June 28, 2014			June 29, 2013
	(Thousands)
2012 Credit Facility	$	12,000		$	6,700
6.000% Notes due September 1, 2015	250,000			250,000
6.625% Notes due September 15, 2016	300,000			300,000
5.875% Notes due June 15, 2020	300,000			300,000
4.875% Notes due December 1, 2022	350,000			350,000
Other long-term debt	3,867			2,879
Subtotal	1,215,867			1,209,579
Unamortized discount on notes	(2,053		)	(2,586		)
Long-term debt	$	1,213,814		$	1,206,993

Aggregate debt maturities

Aggregate debt maturities for the next five fiscal years and thereafter are as follows (in thousands):



2015	$	865,088
2016	264,547
2017	301,286
2018	34
2019	—
Thereafter	650,000
Subtotal	2,080,955
Discount on notes	(2,053		)
Total debt	$	2,078,902

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823

Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6584090&loc=d3e28878-108400

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-Section 50
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-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28541-108399

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28551-108399

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 22
-Article 5

+ Details

Accrued expenses and other (Tables)

12 Months Ended

Jun. 28, 2014

Payables and Accruals [Abstract]

Summarized Accrued expenses and other

Accrued expenses and other consist of the following:



	June 28, 2014		June 29, 2013
	(Thousands)
Accrued salaries and benefits	$	339,885	$	304,606
Accrued operating costs	117,556		92,306
Accrued interest and banking costs	32,878		42,096
Accrued restructuring costs (Note 17)	40,917		46,522
Accrued income taxes	40,829		54,039
Accrued other	139,304		165,533
Total accrued expenses and other	$	711,369	$	705,102

Income Taxes (Tables)

12 Months Ended

Jun. 28, 2014

Income Tax Disclosure [Abstract]

Components of provision for income taxes expense (benefit)

Reconciliation between federal statutory tax rate and effective tax rate

Reconciliations of the federal statutory tax rate to the effective tax rates are as follows:



	Years Ended
	June 28, 2014		June 29, 2013		June 30, 2012
Federal statutory rate	35.0	%	35.0	%	35.0	%
State and local income taxes, net of federal benefit	1.3		1.1		1.8
Foreign tax rates, net of valuation allowances	(9.3	)	(7.2	)	(5.4	)
Release of valuation allowance, net of U.S. tax expense	(4.8	)	(6.4	)	(2.8	)
Change in contingency reserves	(0.1	)	0.4		0.5
Tax audit settlements	(0.6	)	(6.0	)	(1.0	)
Other, net	0.7		1.2		0.2
Effective tax rate	22.2	%	18.1	%	28.3	%

Components of deferred tax assets and liabilities

The significant components of deferred tax assets and liabilities, included primarily in “other assets” on the consolidated balance sheets, are as follows:



	June 28, 2014			June 29, 2013
	(Thousands)
Deferred tax assets:
Federal, state and foreign tax loss carry-forwards	$	336,334		$	333,940
Inventories valuation	$	18,442		$	19,509
Receivables valuation	26,022			27,185
Various accrued liabilities and other	(1,673		)	33,031
	379,125			413,665
Less — valuation allowance	(182,123		)	(230,821		)
	197,002			182,844
Deferred tax liabilities:
Depreciation and amortization of property, plant and equipment	(46,294		)	(50,469		)
Net deferred tax assets	$	150,708		$	132,375

Reconciliation of the beginning and ending accrual balance for unrecognized tax benefits

Reconciliations of the beginning and ending liability balances for unrecognized tax benefits are as follows:



	June 28, 2014			June 29, 2013
	(Thousands)
Balance at beginning of year	$	123,930		$	146,626
Additions for tax positions taken in prior periods, including interest	15,966			11,732
Reductions for tax positions taken in prior periods, including interest	(880		)	(33,776		)
Additions for tax positions taken in current period	8,364			7,445
Reductions related to settlements with taxing authorities	(14,250		)	(9,064		)
Reductions related to the lapse of applicable statutes of limitations	(7,571		)	(2,812		)
Adjustments related to foreign currency translation	2,662			3,779
Balance at end of year	$	128,221		$	123,930

Summary of major jurisdiction

The years remaining subject to audit, by major jurisdiction, are as follows:



Jurisdiction		Fiscal Year
United States (federal and state)		2012 - 2014
Belgium		2010 - 2014
Germany, Taiwan and United Kingdom		2009 -2014
Netherlands, Singapore and Hong Kong		2008 -2014

Pension and Retirement Plans (Tables)

12 Months Ended

Jun. 28, 2014

Compensation and Retirement Disclosure [Abstract]

Schedule of Defined Benefit Plans Disclosures

The following table outlines changes in benefit obligations, plan assets and the funded status of the Plan as of the end of fiscal 2014 and 2013:



	June 28, 2014			June 29, 2013
	(Thousands)
Changes in benefit obligations:
Benefit obligations at beginning of year	$	391,880		$	375,156
Service cost	36,733			36,920
Interest cost	17,155			14,653
Actuarial loss (gain)	34,726			(13,545		)
Benefits paid	(23,327		)	(21,304		)
Benefit obligations at end of year	$	457,167		$	391,880
Changes in plan assets:
Fair value of plan assets at beginning of year	$	365,373		$	301,449
Actual return on plan assets	67,914			45,228
Benefits paid	(23,327		)	(21,304		)
Contributions	40,000			40,000
Fair value of plan assets at end of year	$	449,960		$	365,373
Funded status of the plan recognized as a non-current liability	$	(7,207	)	$	(26,507	)
Amounts recognized in accumulated other comprehensive income:
Unrecognized net actuarial losses	$	158,103		$	173,069
Unamortized prior service credits	(6,050		)	(7,623		)
	$	152,053		$	165,446
Other changes in plan assets and benefit obligations recognized in other comprehensive income:
Net actuarial gain	$	(2,280	)	$	(30,870	)
Amortization of net actuarial losses	(12,686		)	(14,898		)
Amortization of prior service credits	1,573			1,573
	$	(13,393	)	$	(44,195	)

Weighted average assumptions used to calculate actuarial present values of benefit

Weighted average assumptions used to calculate actuarial present values of benefit obligations are as follows:



	2014	2013
Discount rate	4.00%	4.50%

Weighted average assumptions used to determine net benefit costs

Weighted average assumptions used to determine net benefit costs are as follows:



	2014	2013
Discount rate	4.50%	4.00%
Expected return on plan assets	8.50%	8.50%

Components of net periodic pension costs

Components of net periodic pension cost during the last three fiscal years are as follows:



	Years Ended
	June 28, 2014			June 29, 2013			June 30, 2012
	(Thousands)
Service costs	$	36,733		$	36,920		$	28,380
Interest costs	17,155			14,653			14,925
Expected return on plan assets	(30,908		)	(27,905		)	(26,938		)
Recognized net actuarial losses	12,686			14,898			9,680
Amortization of prior service credits	(1,573		)	(1,573		)	(1,875		)
Net periodic pension cost	$	34,093		$	36,993		$	24,172

Estimated future benefit payments

Benefit payments are expected to be paid to Plan participants as follows for the next five fiscal years and the aggregate for the five years thereafter (in thousands):



2015	$	31,997
2016	26,982
2017	30,786
2018	34,646
2019	39,082
2020 through 2024	273,509

Plan's assets are held in trust and were allocated



	2014		2013
Equity securities	75	%	75	%
Fixed income debt securities	24	%	24	%
Cash and cash equivalents	1	%	1	%

The following table sets forth the fair value of the Plan's investments as of June 29, 2013:



	Level 1		Level 2		Level 3		Total
	(Thousands)
Cash and cash equivalents	$	3,032	$	—	$	—	$	3,032
Equities:
U.S. common stocks	—		219,225		—		219,225
International common stocks	—		56,458		—		56,458
Fixed Income:
U.S. government agencies	—		10,004		—		10,004
U.S. corporate bonds	—		76,654		—		76,654
Total	$	3,032	$	362,341	$	—	$	365,373

The following table sets forth the fair value of the Plan's investments as of June 28, 2014:



	Level 1		Level 2		Level 3		Total
	(Thousands)
Cash and cash equivalents	$	3,025	$	—	$	—	$	3,025
Equities:
U.S. common stocks	—		267,741		—		267,741
International common stocks	—		71,273		—		71,273
Fixed Income:
U.S. government agencies	—		10,439		—		10,439
U.S. corporate bonds	—		97,482		—		97,482
Total	$	3,025	$	446,935	$	—	$	449,960

Operating leases (Tables)

12 Months Ended

Jun. 28, 2014

Leases [Abstract]

Rent expense charged to operations

Rent expense charged to operating expenses during the last three fiscal years is as follows:



	Years Ended
	June 28, 2014		June 29, 2013		June 30, 2012
	(Thousands)
Rent expense under operating leases	$	106,620	$	94,087	$	92,624

Minimum operating lease commitments principally for buildings

The aggregate future minimum operating lease commitments, principally for buildings, in fiscal 2015 through 2019 and thereafter, are as follows (in thousands):



2015	$	91,242
2016	69,823
2017	55,204
2018	39,359
2019	29,846
Thereafter	92,015
Total	$	377,489

Stock Based Compensation Plans Stock Based Compensation Plans (Tables)

12 Months Ended

Jun. 28, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The risk-free interest rate is based on U.S. Treasury rates as of the date of grant with maturity dates approximately equal to the expected term at the grant date. The historical volatility of Avnet’s common stock is used as the basis for the volatility assumption. The Company estimates dividend yield based upon expectations of future dividends as of the grant date.



	Years Ended
	June 28, 2014		June 29, 2013		June 30, 2012
Expected term (years)	6.0		6.0		6.0
Risk-free interest rate	1.7	%	0.9	%	1.2	%
Weighted average volatility	34.3	%	35.0	%	33.7	%
Dividend yield	1.5	%	0.0	%	0.0	%

Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding

The following is a summary of the changes in outstanding options for fiscal 2014:



	Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life
Outstanding at June 29, 2013	2,579,188		$	26.65	70 Months
Granted	417,692		39.04		109 Months
Exercised	(1,185,004	)	24.65		40 Months
Forfeited or expired	(2,700	)	17.47		3 Months
Outstanding at June 28, 2014	1,809,176		$	30.84	81 Months
Exercisable at June 28, 2014	820,520		$	27.40	61 Months

Schedule of Nonvested Share Activity

The following is a summary of the changes in non-vested stock options for the fiscal year ended June 28, 2014:



	Shares		Weighted Average Grant-Date Fair Value
Non-vested stock options at June 29, 2013	944,290		$	10.21
Granted	417,692		11.45
Vested	(373,326	)	9.87
Forfeited	—		—
Non-vested stock options at June 28, 2014	988,656		$	10.86

Schedule Of Nonvested Incentive Share Activity

The following is a summary of the changes in non-vested restricted incentive shares for the fiscal year ended June 28, 2014:



	Shares		Weighted Average Grant-Date Fair Value
Non-vested restricted incentive shares at June 29, 2013	2,009,510		$	29.62
Granted	1,060,152		39.05
Vested	(972,420	)	31.33
Forfeited	(95,355	)	$	33.54
Non-vested restricted incentive shares at June 28, 2014	2,001,887		$	33.60

Earnings Per Share (Tables)

12 Months Ended

Jun. 28, 2014

Earnings Per Share [Abstract]

Basic earnings per share calculation



	Years Ended
	June 28, 2014		June 29, 2013		June 30, 2012
	(Thousands, except per share data)
Numerator:
Net income	$	545,604	$	450,073	$	567,019
Denominator:
Weighted average common shares for basic earnings per share	137,991		137,951		147,278
Net effect of dilutive stock options, restricted incentive shares and performance shares	2,128		2,052		2,275
Weighted average common shares for diluted earnings per share	140,119		140,003		149,553
Basic earnings per share	$	3.95	$	3.26	$	3.85
Diluted earnings per share	$	3.89	$	3.21	$	3.79

Additional Cash Flow Information (Tables)

12 Months Ended

Jun. 28, 2014

Additional Cash Flow Elements and Supplemental Cash Flow Information [Abstract]

Other noncash and reconciling items

The "Other, net" component of non-cash and other reconciling items within operating activities in the consolidated statements of cash flows consisted of the following:



	Years Ended
	June 28, 2014		June 29, 2013		June 30, 2012
	(Thousands)
Provision for doubtful accounts receivable	$	17,943	$	30,802	$	35,632
Periodic pension cost (Note 10)	34,093		36,993		24,172
Other, net	36,651		7,532		6,459
Total	$	88,687	$	75,327	$	66,263

Interest and income taxes paid

Interest and income taxes paid during the last three fiscal years were as follows:



	Years Ended
	June 28, 2014		June 29, 2013		June 30, 2012
	(Thousands)
Interest	$	111,608	$	106,735	$	89,529
Income taxes	$	181,117	$	141,196	$	192,717

Segment information (Tables)

12 Months Ended

Jun. 28, 2014

Segment Reporting [Abstract]

The sales and services provided by the company



	Years Ended
	June 28, 2014			June 29, 2013			June 30, 2012
	(Millions)
Sales:
Electronics Marketing	$	16,544.4		$	15,094.4		$	14,933.1
Technology Solutions	10,955.3			10,364.5			10,774.4
	$	27,499.7		$	25,458.9		$	25,707.5
Operating income (loss):
Electronics Marketing	$	747.9		$	635.7		$	759.6
Technology Solutions	317.8			299.1			338.9
Corporate	(134.4		)	(126.9		)	(112.9		)
	931.3			807.9			985.6
Restructuring, integration and other expenses (Note 17)	(94.6		)	(149.5		)	(73.6		)
Amortization of acquired intangible assets and other	(46.8		)	(32.4		)	(27.8		)
	$	789.9		$	626.0		$	884.2
Assets:
Electronics Marketing	$	6,840.2		$	6,316.3		$	6,024.3
Technology Solutions	4,140.2			3,838.4			3,738.5
Corporate	275.1			320.0			405.1
	$	11,255.5		$	10,474.7		$	10,167.9
Capital expenditures:
Electronics Marketing	$	38.0		$	24.1		$	58.5
Technology Solutions	43.8			26.6			41.3
Corporate	41.4			46.7			28.8
	$	123.2		$	97.4		$	128.6
Depreciation & amortization expense:
Electronics Marketing	$	48.8		$	51.8		$	38.9
Technology Solutions	59.0			47.3			39.2
Corporate	29.4			21.6			23.2
	$	137.2		$	120.7		$	101.3
Sales, by geographic area:
Americas⁽¹⁾	$	10,929.5		$	10,716.6		$	11,499.3
EMEA⁽²⁾	8,246.1			7,277.9			7,408.9
Asia/Pacific⁽³⁾	8,324.1			7,464.4			6,799.3
	$	27,499.7		$	25,458.9		$	25,707.5
Property, plant and equipment, net, by geographic area:
Americas⁽⁴⁾	$	306.2		$	283.0		$	278.5
EMEA⁽⁵⁾	199.4			177.9			150.8
Asia/Pacific	29.4			31.7			31.9
	$	535.0		$	492.6		$	461.2

______________________


(1)	Includes sales in the United States of $9.68 billion, $9.43 billion and $10.00 billion for fiscal 2014, 2013 and 2012, respectively.


(2)	Includes sales in Germany and the United Kingdom of $3.31 billion and $1.36 billion, respectively, for fiscal 2014. Includes sales in Germany and the United Kingdom of $2.78 billion and $1.22 billion, respectively, for fiscal 2013. Includes sales in Germany and the United Kingdom of $2.60 billion and $1.40 billion, respectively, for fiscal 2012.

(3)


(4)	Includes property, plant and equipment, net, of $298.1 million, $273.4 million and $266.7 million in the United States for fiscal 2014, 2013 and 2012, respectively.

(5)

Company's approximate sales of major product categories

Listed in the table below are the Company's major product categories and the related sales for each of the past three fiscal years:



	Years Ended
	June 28, 2014		June 29, 2013		June 30, 2012
	(Millions)
Semiconductors	$	13,160.9	$	13,720.8	$	13,461.6
Computer products	10,571.6		9,346.0		9,984.4
Connectors	794.7		687.6		667.5
Passives, electromechanical and other	2,972.5		1,704.5		1,594.0
	$	27,499.7	$	25,458.9	$	25,707.5

Restructuring, Integration and other expenses (Tables)

12 Months Ended

Jun. 28, 2014

Jun. 29, 2013

Jun. 30, 2012

Fiscal 2014 [Member]

Restructuring Cost and Reserve [Line Items]



	Year Ended
	June 28, 2014
	(Thousands)
Restructuring expenses	$	65,749
Integration costs	20,455
Other costs including acquisition costs	8,767
Changes in estimates for prior year restructuring liabilities	(348		)
Restructuring, integration and other expenses before tax	$	94,623
Restructuring, integration and other expenses after tax	$	70,773
Restructuring, integration and other expenses per share on a diluted basis	$	0.50

The activity related to the restructuring liabilities established during fiscal 2014 is presented in the following table:



	Severance			Facility Exit Costs and Asset Impairments			Other			Total
	(Thousands)
Fiscal 2014 restructuring expenses	$	53,260		$	11,608		$	881		$	65,749
Cash payments	(29,191		)	(3,028		)	(9		)	(32,228		)
Non-cash amounts	(260		)	(4,906		)	(538		)	(5,704		)
Other, principally foreign currency translation	(65		)	23			10			(32		)
Balance at June 28, 2014	$	23,744		$	3,697		$	344		$	27,785

Fiscal 2013 [Member]

Restructuring Cost and Reserve [Line Items]



	Year Ended
	June 29, 2013
	(Thousands)
Restructuring expenses	$	120,048
Integration costs	35,742
Other costs including acquisition costs	(3,224		)
Changes in estimates for prior year restructuring liabilities	(3,065		)
Restructuring, integration and other expenses before tax	$	149,501
Restructuring, integration and other expenses after tax	$	116,382
Restructuring, integration and other expenses per share on a diluted basis	$	0.83

The fiscal 2014 activity related to the remaining restructuring liabilities established during fiscal 2013 is presented in the following table:



	Severance			Facility Exit Costs and Asset Impairments			Other			Total
	(Thousands)
Balance at June 29, 2013	$	25,254		$	16,211		$	370		$	41,835
Cash payments	(20,137		)	(7,672		)	(326		)	(28,135		)
Changes in estimates, net	(2,283		)	(1,601		)	963			(2,921		)
Non-cash amounts	—			928			(485		)	443
Other, principally foreign currency translation	166			408			89			663
Balance at June 28, 2014	$	3,000		$	8,274		$	611		$	11,885

Fiscal 2012 [Member]

Restructuring Cost and Reserve [Line Items]

During fiscal 2012, the Company incurred expenses to reduce costs, including costs related to the acquisition and integration activities associated with acquired businesses as follows:



	Year Ended
	June 30, 2012
	(Thousands)
Restructuring expenses	$	50,253
Integration costs	9,392
Other costs including acquisition costs	17,226
Changes in estimates for prior year restructuring liabilities	(3,286		)
Restructuring, integration and other expenses before tax	$	73,585
Restructuring, integration and other expenses after tax	$	52,963
Restructuring, integration and other expenses per share on a diluted basis	$	0.35

Summary of Significant Accounting Policies (Details) - USD ($)	12 Months Ended
	Jun. 28, 2014	Jun. 29, 2013
Property, Plant and Equipment [Line Items]
Provision for income taxes on unremitted earnings of foreign subsidiaries	$ 0
Cumulative unremitted earnings of foreign subsidiaries	2,770,000,000
Fair value of Cash equivalents recorded based upon level 1	$ 19,700,000	$ 2,100,000
Minimum [Member]
Property, Plant and Equipment [Line Items]
Ownership interest in joint venture	50.00%
Intangible asset, useful life	2 years
Maximum [Member]
Property, Plant and Equipment [Line Items]
Ownership interest in joint ventures without significant influence	20.00%
Intangible asset, useful life	10 years
Buildings [Member]
Property, Plant and Equipment [Line Items]
Useful life	30 years
Machinery, fixtures and equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Useful life	2 years
Machinery, fixtures and equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Useful life	10 years
Information Technology Hardware and Software [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Useful life	2 years
Information Technology Hardware and Software [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Useful life	10 years
Leasehold improvements [Member]
Property, Plant and Equipment [Line Items]
Useful life description	remaining lease term or useful life if shorter

Acquisitions and divestitures (2014 Acquisitions) (Details) $ in Thousands	12 Months Ended
	Jun. 28, 2014 USD ($)	Jun. 29, 2013 USD ($)	Jun. 30, 2012 USD ($)
Business Acquisition [Line Items]
Acquisitions of businesses, net of cash acquired	$ 116,882	$ 262,306	$ 313,218
Assets Acquired and Liabilities Assumed
Goodwill	1,348,468	1,261,288
Electronics Marketing [Member]
Assets Acquired and Liabilities Assumed
Goodwill	668,457	601,830
Technology Solutions [Member]
Assets Acquired and Liabilities Assumed
Goodwill	$ 680,011	$ 659,458
2014 Acquisitions [Member]
Business Acquisition [Line Items]
Number of businesses acquired	3
Business acquisition, aggregate annualized revenue of acquired businesses	$ 492,000
Acquisitions of businesses, net of cash acquired	116,900
Contingent consideration
Cash	181,645
Contingent consideration	38,081
Total	219,726
Contingent consideration, maximum additional payment	50,000
Assets Acquired and Liabilities Assumed
Cash	64,763
Receivables	36,216
Inventories	95,202
Other current assets	6,597
Property, plant and equipment and other non-current assets	28,155
Intangible assets	53,502
Total identifiable assets acquired	284,435
Accounts payable, accrued liabilities and other current liabilities	(66,848)
Short-term debt	(45,942)
Other long-term liabilities	(14,535)
Total identifiable liabilities assumed	127,325
Net identifiable assets acquired	157,110
Goodwill	62,616
Net assets acquired	219,726
2014 Acquisitions [Member] \| Electronics Marketing [Member]
Assets Acquired and Liabilities Assumed
Goodwill	52,000
2014 Acquisitions [Member] \| Technology Solutions [Member]
Assets Acquired and Liabilities Assumed
Goodwill	$ 10,600

Acquisitions and divestitures (2013 Acquisitions) (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 28, 2014 USD ($)	Jun. 29, 2013 USD ($) business $ / shares	Jun. 30, 2012 USD ($) $ / shares
Contingent consideration
Acquisitions of operations and investments, net of cash acquired	$ 116,882	$ 262,306	$ 313,218
Assets Acquired and Liabilities Assumed
Goodwill	1,348,468	1,261,288
Pro Forma Results For Years Ended
Gain on bargain purchase			$ (900)
Gain on bargain purchase per share on a diluted basis \| $ / shares			$ 0.01
Electronics Marketing [Member]
Assets Acquired and Liabilities Assumed
Goodwill	668,457	601,830
Technology Solutions [Member]
Assets Acquired and Liabilities Assumed
Goodwill	680,011	$ 659,458
2013 Acquisitions [Member]
Business Acquisition [Line Items]
Number of businesses acquired \| business		12
Business acquisition revenue		$ 1,180,000
Contingent consideration
Cash paid		297,484
Contingent consideration		11,467
Total consideration	308,951	308,951
Contingent consideration, maximum additional payment		22,200
Acquisitions of operations and investments, net of cash acquired		262,300
Assets Acquired and Liabilities Assumed
Cash		29,276
Receivables		226,743
Inventories		91,791
Other current assets		33,689
Property, plant and equipment		25,311
Other assets		47,292
Total identifiable assets acquired		454,102
Accounts payable, accrued liabilities and other current liabilities		(157,986)
Long-term debt		(66,367)
Total identifiable liabilities assumed		(45,640)
Total identifiable liabilities assumed		269,993
Net identifiable assets acquired		184,109
Goodwill		157,521
Bargain purchase recognized		(32,679)
Net assets acquired	$ 308,951	308,951
Intangible assets		35,200
Pro Forma Results For Years Ended
Sales		25,771,000	$ 26,872,000
Net income		454,000	$ 587,000
2013 Acquisitions [Member] \| Electronics Marketing [Member]
Assets Acquired and Liabilities Assumed
Goodwill		62,000
2013 Acquisitions [Member] \| Technology Solutions [Member]
Assets Acquired and Liabilities Assumed
Goodwill		95,500
Internix, Inc [Member]
Pro Forma Results For Years Ended
Gain on bargain purchase		$ 32,700
Gain on bargain purchase per share on a diluted basis \| $ / shares		$ 0.23

Acquisitions and divestitures (2012 Acquisitions) (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 28, 2014 USD ($)	Jun. 29, 2013 USD ($) business $ / shares	Jun. 30, 2012 USD ($) business $ / shares
Contingent consideration
Acquisitions of operations and investments, net of cash acquired	$ 116,882	$ 262,306	$ 313,218
Assets Acquired and Liabilities Assumed
Goodwill	1,348,468	$ 1,261,288
Pro Forma Results For Years Ended
Gain on bargain purchase			$ (900)
Gain on bargain purchase per share on a diluted basis \| $ / shares			$ 0.01
2013 Acquisitions [Member]
Business Acquisition [Line Items]
Number of businesses acquired \| business		12
Business acquisition revenue		$ 1,180,000
Contingent consideration
Cash paid		297,484
Contingent consideration		11,467
Total consideration	308,951	308,951
Contingent consideration, maximum additional payment		22,200
Acquisitions of operations and investments, net of cash acquired		262,300
Assets Acquired and Liabilities Assumed
Cash		29,276
Receivables		226,743
Inventories		91,791
Other current assets		33,689
Property, plant and equipment		25,311
Other assets		47,292
Total identifiable assets acquired		454,102
Accounts payable, accrued liabilities and other current liabilities		(157,986)
Long-term debt		(66,367)
Total identifiable liabilities assumed		(45,640)
Total identifiable liabilities assumed		269,993
Net identifiable assets acquired		184,109
Goodwill		157,521
Bargain purchase recognized		(32,679)
Net assets acquired	308,951	308,951
Pro Forma Results For Years Ended
Sales		25,771,000	$ 26,872,000
Net income		454,000	$ 587,000
Internix, Inc [Member]
Pro Forma Results For Years Ended
Gain on bargain purchase		$ 32,700
Gain on bargain purchase per share on a diluted basis \| $ / shares		$ 0.23
2012 Acquisitions [Member]
Business Acquisition [Line Items]
Number of businesses acquired \| business			11
Business acquisition revenue			$ 912,000
Contingent consideration
Cash paid			390,410
Contingent consideration			23,175
Total consideration			413,585
Contingent consideration, maximum additional payment			124,000
Acquisitions of operations and investments, net of cash acquired			313,200
Assets Acquired and Liabilities Assumed
Cash			75,016
Receivables			132,195
Inventories			59,463
Other current assets			23,936
Property, plant and equipment			9,729
Other assets			104,368
Total identifiable assets acquired			404,707
Accounts payable, accrued liabilities and other current liabilities			(230,747)
Total identifiable liabilities assumed			(2,483)
Total identifiable liabilities assumed			233,230
Net identifiable assets acquired			171,477
Goodwill			246,425
Bargain purchase recognized			(4,317)
Net assets acquired			413,585
Intangible assets			93,300
Pro Forma Results For Years Ended
Sales			26,052,000
Net income			568,000
Unidux Electronics Limited [Member]
Pro Forma Results For Years Ended
Gain on bargain purchase			$ 4,300
Gain on bargain purchase per share on a diluted basis \| $ / shares			$ 0.03
Electronics Marketing [Member]
Assets Acquired and Liabilities Assumed
Goodwill	668,457	$ 601,830
Electronics Marketing [Member] \| 2013 Acquisitions [Member]
Assets Acquired and Liabilities Assumed
Goodwill		62,000
Electronics Marketing [Member] \| 2012 Acquisitions [Member]
Assets Acquired and Liabilities Assumed
Goodwill			$ 180,000
Technology Solutions [Member]
Assets Acquired and Liabilities Assumed
Goodwill	$ 680,011	659,458
Technology Solutions [Member] \| 2013 Acquisitions [Member]
Assets Acquired and Liabilities Assumed
Goodwill		$ 95,500
Technology Solutions [Member] \| 2012 Acquisitions [Member]
Assets Acquired and Liabilities Assumed
Goodwill			$ 66,400

Acquisitions and divestitures (Divestitures) (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Jun. 29, 2013	Jun. 30, 2012
Business Acquisition [Line Items]
Loss on bargin purchase, pre tax		$ 1.4
Loss on bargin purchase, after tax		$ 0.9
Loss on bargin purchase on a diluted basis		$ 0.01
TS Asia [Member]
Business Acquisition [Line Items]
Loss on divestiture	$ (1.7)
Loss on divestiture on a diluted basis	$ 0.01

Accounts Receivable Securitization (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 28, 2014	Jun. 29, 2013
Transfers and Servicing [Abstract]
Accounts receivable securitization program maximum borrowing amount	$ 800.0
Accounts Receivable securitization program, expiration date	August 2014
Accounts Receivable securitization program, loan term	1 year
Accounts receivable securitization program, borrowings outstanding	$ 615.0	$ 360.0
Terms on which interest on borrowings is calculated	0.35%
Program facility fee	0.35%

Shareholders' Equity Accumulated Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	Jun. 28, 2014	Jun. 29, 2013	Jun. 30, 2012
Illustration of accumulated balances of comprehensive income
Accumulated translation adjustments and other	$ 244,149	$ 135,395	$ 90,798
Accumulated pension liability adjustments, net of income taxes	(104,637)	(106,500)	(136,630)
Total accumulated other comprehensive income (loss)	$ 139,512	$ 28,895	$ (45,832)

- Definition

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References + Details

Share repurchase program (Details Textuals) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions	3 Months Ended	12 Months Ended
	Jun. 28, 2014	Jun. 28, 2014	Jun. 29, 2013	Jun. 30, 2012
Equity [Abstract]
Authorized repurchase of common stock under Share Repurchase Program		$ 750,000
Shares repurchased during period		0.2
Average market price per shares repurchased during period		$ 41.46
Cost of repurchase		$ 8,600
Aggregate number of shares repurchased since inception		18.1
Aggregate cost of shares repurchased since inception		$ 534,100
Remaining authorized repurchase amount		$ 215,900
Cash dividends paid per common share	$ 0.15	$ 0.60	$ 0.00	$ 0.00
Dividends paid on common stock	$ 20,700	$ 82,755	$ 0	$ 0

Property plant and equipment, net (Details) - USD ($) $ in Thousands	Jun. 28, 2014	Jun. 29, 2013
Summary of Property, plant and equipment
Depreciable property, plant and equipment, gross	$ 1,217,080	$ 1,085,530
Accumulated depreciation	(783,485)	(691,980)
Property, plant and equipment, net	534,999	492,606
Land	31,730	24,834
Construction in progress	69,674	74,222
Building [Member]
Summary of Property, plant and equipment
Depreciable property, plant and equipment, gross	132,291	141,886
Machinery and Equipment [Member]
Summary of Property, plant and equipment
Depreciable property, plant and equipment, gross	266,416	213,317
Information Technology Hardware and Software [Member]
Summary of Property, plant and equipment
Depreciable property, plant and equipment, gross	699,466	628,026
Leasehold Improvements [Member]
Summary of Property, plant and equipment
Depreciable property, plant and equipment, gross	118,907	102,301
Depreciable Assets [Member]
Summary of Property, plant and equipment
Property, plant and equipment, net	$ 433,595	$ 393,550

Property, plant and equipment, net (Details Textuals) - USD ($) $ in Millions	12 Months Ended
	Jun. 28, 2014	Jun. 29, 2013	Jun. 30, 2012
Property, Plant and Equipment, Net [Abstract]
Depreciation and amortization expense	$ 92.5	$ 88.3	$ 73.6

Goodwill and intangible assets (Schedule of Goodwill) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 28, 2014	Jun. 28, 2014	Jun. 29, 2013
Carrying amount of goodwill, by reportable segment
Gross goodwill		$ 2,728,202	$ 2,641,022
Accumulated impairment		(1,379,734)	(1,379,734)
Carrying value	$ 1,261,288
Additions	62,616
Adjustments	2,591
Foreign currency translation	21,973
Carrying value	1,261,288	1,348,468	1,261,288
Electronics Marketing [Member]
Carrying amount of goodwill, by reportable segment
Gross goodwill		1,713,567	1,646,940
Accumulated impairment		(1,045,110)	(1,045,110)
Carrying value	601,830
Additions	51,994
Adjustments	2,039
Foreign currency translation	12,594
Carrying value	601,830	668,457	601,830
Technology Solutions [Member]
Carrying amount of goodwill, by reportable segment
Gross goodwill		1,014,635	994,082
Accumulated impairment		(334,624)	(334,624)
Carrying value	659,458
Additions	10,622
Adjustments	552
Foreign currency translation	9,379
Carrying value	$ 659,458	$ 680,011	$ 659,458

Goodwill and intangible assets (Schedule of Intangible Assets) (Details) - USD ($) $ in Thousands	Jun. 28, 2014	Jun. 29, 2013
Goodwill [Line Items]
Gross Acquired Amount	$ 344,322	$ 283,604
Accumulated Amortization	(160,014)	(111,392)
Net Book Value	184,308	172,212
Customer Relationships [Member]
Goodwill [Line Items]
Gross Acquired Amount	319,496	276,107
Accumulated Amortization	(155,604)	(109,946)
Net Book Value	163,892	166,161
Trade Names [Member]
Goodwill [Line Items]
Gross Acquired Amount	5,993	3,320
Accumulated Amortization	(1,555)	(480)
Net Book Value	4,438	2,840
Other [Member]
Goodwill [Line Items]
Gross Acquired Amount	18,833	4,177
Accumulated Amortization	(2,855)	(966)
Net Book Value	$ 15,978	$ 3,211

Goodwill and intangible assets (Estimated Future Amortization Expense) (Details) - USD ($) $ in Thousands	Jun. 28, 2014	Jun. 29, 2013
Goodwill and Intangible Assets Disclosure [Abstract]
2015	$ 41,458
2016	35,512
2017	33,478
2018	24,900
2019	20,756
Thereafter	28,204
Net Book Value	$ 184,308	$ 172,212

Goodwill and intangible assets (Details Textuals) - USD ($) $ in Thousands	12 Months Ended
	Jun. 28, 2014	Jun. 29, 2013	Jun. 30, 2012
Goodwill and Intangible Assets Disclosure [Abstract]
Weighted average useful life	8 years
Intangible asset amortization expense	$ 44,724	$ 32,343	$ 27,785

External financing (Short Term Debt) (Details) - USD ($) $ in Thousands	Jun. 28, 2014	Jun. 29, 2013
Components of short-term debt
Short-term Debt	$ 865,088	$ 838,190
Bank Credit Facilities [Member]
Components of short-term debt
Short-term Debt	250,088	178,240
Accounts Receivable Securitization Program (Note 3) [Member]
Components of short-term debt
Short-term Debt	615,000	360,000
Current portion of long-term debt [Member]
Components of short-term debt
Short-term Debt	$ 0	$ 299,950

External financing (Long-term Debt) (Details) - USD ($) $ in Thousands	Jun. 28, 2014	Jun. 29, 2013
Components of long-term debt
Subtotal	$ 1,215,867	$ 1,209,579
Unamortized discount on notes	(2,053)	(2,586)
Long-term debt	1,213,814	1,206,993
2012 Credit Facility
Debt Instrument [Line Items]
Credit Facility	$ 12,000	$ 6,700
Interest rate of senior notes	5.875%	5.875%
6.000% Notes due September 1, 2015
Debt Instrument [Line Items]
Senior notes	$ 250,000	$ 250,000
Interest rate of senior notes	6.00%	6.00%
6.625% Notes due September 15, 2016
Debt Instrument [Line Items]
Senior notes	$ 300,000	$ 300,000
Interest rate of senior notes	6.625%	6.625%
5.875% Notes due June 15, 2020
Debt Instrument [Line Items]
Senior notes	$ 300,000	$ 300,000
Interest rate of senior notes	5.875%	5.875%
4.875% Notes due December 1, 2022
Debt Instrument [Line Items]
Senior notes	$ 350,000	$ 350,000
Interest rate of senior notes	4.875%	4.875%
Other long-term debt
Debt Instrument [Line Items]
Other long-term debt	$ 3,867	$ 2,879

External financing (Maturity Schedule) (Details) $ in Thousands	Jun. 28, 2014 USD ($)
Debt Disclosure [Abstract]
2015	$ 865,088
2016	264,547
2017	301,286
2018	34
2019	0
Thereafter	650,000
Subtotal	2,080,955
Discount on notes	(2,053)
Total debt	$ 2,078,902

External financing (Details Textuals) - USD ($) $ in Thousands	12 Months Ended
	Jun. 28, 2014	Jun. 29, 2013
Debt Instrument [Line Items]
Company's debt, carrying value	$ 2,080,000	$ 2,050,000
Company's debt, fair value	$ 2,190,000	$ 2,130,000
Bank Credit Facilities [Member]
Debt Instrument [Line Items]
Weighted average interest rate on bank credit facilities	3.20%	4.30%
2012 Credit Facility [Member] \| Unsecured Debt [Member]
Debt Instrument [Line Items]
Line of credit facility term	5 years
Maximum borrowing capacity	$ 1,000,000
Expiration date	Nov. 18, 2016
Outstanding amount	$ 2,000	$ 2,300
2014 Credit Facility [Member] \| Unsecured Debt [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	1,250,000
Line of Credit Facility, Increase (Decrease), Net	1,500,000
2014 Credit Facility [Member] \| Letter of Credit [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 150,000

Accrued expenses and other (Details) - USD ($) $ in Thousands	Jun. 28, 2014	Jun. 29, 2013
Payables and Accruals [Abstract]
Accrued salaries and benefits	$ 339,885	$ 304,606
Accrued operating costs	117,556	92,306
Accrued interest and banking costs	32,878	42,096
Accrued restructuring costs (Note 17)	40,917	46,522
Accrued income taxes	40,829	54,039
Accrued other	139,304	165,533
Accrued expenses and other	$ 711,369	$ 705,102

Income taxes (Provision for Income Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 28, 2014	Jun. 29, 2013	Jun. 30, 2012
Current:
Federal	$ 71,714	$ 17,212	$ 94,237
State and Local	8,038	7,034	19,466
Foreign	91,415	84,965	98,278
Total current taxes	171,167	109,211	211,981
Deferred:
Federal	11,305	2,619	6,896
State and Local	3,810	2,390	758
Foreign	(30,759)	(15,028)	4,128
Total deferred taxes	(15,644)	(10,019)	11,782
Provision for income taxes	$ 155,523	$ 99,192	$ 223,763

Income taxes (Effective Tax Rate) (Details)	12 Months Ended
Income taxes (Effective Tax Rate) (Details)	Jun. 28, 2014	Jun. 29, 2013	Jun. 30, 2012
Reconciliation between federal statutory tax rate and effective tax rate
Federal statutory rate	35.00%	35.00%	35.00%
State and local income taxes, net of federal benefit	1.30%	1.10%	1.80%
Foreign tax rates, net of valuation allowances	(9.30%)	(7.20%)	(5.40%)
Release of valuation allowance, net of U.S tax expense	(4.80%)	(6.40%)	(2.80%)
Change in contingency reserves	(0.10%)	0.40%	0.50%
Tax audit settlements	(0.60%)	(6.00%)	(1.00%)
Other, net	0.70%	1.20%	0.20%
Effective tax rate	22.20%	18.10%	28.30%

Income taxes (Deferred Assets and Liabilities) (Details) - USD ($) $ in Thousands	Jun. 28, 2014	Jun. 29, 2013
Deferred tax assets:
Federal, state and foreign tax loss carry-forwards	$ 336,334	$ 333,940
Inventories valuation	18,442	19,509
Receivables valuation	26,022	27,185
Various accrued liabilities and other	(1,673)	33,031
Deferred tax assets, gross	379,125	413,665
Less - valuation allowance	(182,123)	(230,821)
Deferred tax assets, net	197,002	182,844
Deferred tax liabilities:
Depreciation and amortization of property, plant and equipment and intangible assets	(46,294)	(50,469)
Net deferred tax assets	$ 150,708	$ 132,375

Income taxes (Unrecognized Tax Benefits) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 28, 2014	Jun. 29, 2013
Reconciliation of the beginning and ending accrual balance for unrecognized tax benefits
Balance at beginning of year	$ 123,930	$ 146,626
Additions for tax positions taken in prior periods, including interest	15,966	11,732
Reductions for tax positions taken in prior periods, including interest	(880)	(33,776)
Additions for tax positions taken in current period	8,364	7,445
Reductions related to settlements with taxing authorities	(14,250)	(9,064)
Reductions related to the lapse of applicable statutes of limitations	(7,571)	(2,812)
Adjustments related to foreign currency translation	2,662	3,779
Balance at end of year	$ 128,221	$ 123,930

Income Taxes (Details Textuals) - USD ($)	12 Months Ended
Income Taxes (Details Textuals) - USD ($)	Jun. 28, 2014	Jun. 29, 2013	Jun. 30, 2012
Income Tax [Line Items]
Income (loss) before income taxes, Domestic	$ 235,400,000	$ 174,000,000	$ 320,300,000
Income (loss) before income taxes, Foreign	$ 465,700,000	$ 375,300,000	$ 470,400,000
Effective tax rate	22.20%	18.10%	28.30%
Net tax benefit impacting tax rate	$ 43,800,000
Tax benefit release of valuation allowance against deferred tax assets	33,400,000
Foreign income tax expense (benefit)	$ 7,000,000
Effective tax rate excluding impact of release of valuation allowance	27.00%	23.00%
Reduction in deferred tax valuation allowance	$ 52,700,000
Valuation allowance impacted effective tax rate	33,400,000
Increase in valuation allowance for newly acquired companies and companies with a history of losses	4,100,000
Net operating loss carry forward	1,250,000,000
Operating loss carry forward, subject to expiration	6,200,000
Deferred tax assets operating loss carry forwards expiring in next three years and after	278,400,000
Operating loss carry forward, not subject to expiration	961,300,000
Unrecognized tax benefits	128,221,000	$ 123,930,000	$ 146,626,000
Recognized tax benefits	112,200,000	117,700,000
Accrued interest expense and penalties	25,300,000	25,000,000
Tax contingencies settled	21,500,000
Expected cash payment for settlement	7,800,000
Provision for income taxes on unremitted earnings of foreign subsidiaries	0
Cumulative unremitted earnings of foreign subsidiaries	2,770,000,000
EMEA [Member]
Income Tax [Line Items]
Tax benefit release of valuation allowance against deferred tax assets	$ 33,600,000	$ 27,100,000

Pension and retirement plans (Pension Plans) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 28, 2014	Jun. 29, 2013	Jun. 30, 2012
Changes in benefit obligations:
Service cost	$ 36,733	$ 36,920	$ 28,380
Interest cost	17,155	14,653	14,925
Change in plan assets:
Contributions	40,000
Amounts recognized in accumulated other comprehensive income:
Unrecognized net actuarial loss	158,100
Unamortized prior service credit	(6,100)
Pension Plans [Member]
Changes in benefit obligations:
Benefit obligations at beginning of year	391,880	375,156
Service cost	36,733	36,920
Interest cost	17,155	14,653
Actuarial (gain) loss	34,726	(13,545)
Benefits paid	(23,327)	(21,304)
Benefit obligations at end of year	457,167	391,880	375,156
Change in plan assets:
Fair value of plan assets at beginning of year	365,373	301,449
Actual return on plan assets	67,914	45,228
Benefits paid	(23,327)	(21,304)
Contributions	40,000	40,000
Fair value of plan assets at end of year	449,960	365,373	$ 301,449
Funded status of the plan recognized as a non-current asset (liability)	(7,207)	(26,507)
Amounts recognized in accumulated other comprehensive income:
Unrecognized net actuarial loss	158,103	173,069
Unamortized prior service credit	(6,050)	(7,623)
Amount recognized in accumulated other comprehensive income	152,053	165,446
Other changes in plan assets and benefit obligations recognized in other comprehensive income:
Net actuarial (gain) loss	(2,280)	(30,870)
Amortization of net actuarial loss	(12,686)	(14,898)
Amortization of prior service credit	1,573	1,573
Other changes in plan assets and benefit obligations recognized in other comprehensive income	$ (13,393)	$ (44,195)
Weighted average assumptions used to calculate actuarial present values of benefit obligations
Discount rate	4.00%	4.50%
Weighted average assumptions used to determine net benefit costs
Discount rate	4.50%	4.00%
Expected return on plan assets	8.50%	8.50%

Pension and retirement plans (Periodic Pension Cost) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 28, 2014	Jun. 29, 2013	Jun. 30, 2012
Components of net periodic pension costs
Service cost	$ 36,733	$ 36,920	$ 28,380
Interest cost	17,155	14,653	14,925
Expected return on plan assets	(30,908)	(27,905)	(26,938)
Recognized net actuarial loss	12,686	14,898	9,680
Amortization of prior service credit	(1,573)	(1,573)	(1,875)
Net periodic pension cost	$ 34,093	$ 36,993	$ 24,172

Pension and retirement plans (Benefit Payments) (Details) $ in Thousands	Jun. 28, 2014 USD ($)
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract]
2015	$ 31,997
2016	26,982
2017	30,786
2018	34,646
2019	39,082
2020 through 2024	$ 273,509

Pension and retirement plans (Plan Asset Allocations) (Details)	Jun. 28, 2014	Jun. 29, 2013
Equity securities
Defined Benefit Plan Disclosure [Line Items]
Actual plan asset allocations	75.00%	75.00%
Fixed income debt securities
Defined Benefit Plan Disclosure [Line Items]
Actual plan asset allocations	24.00%	24.00%
Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Actual plan asset allocations	1.00%	1.00%

Pension and retirement plans (Fair Value) (Details) - Pension Plans, Defined Benefit [Member] - USD ($) $ in Thousands	Jun. 28, 2014	Jun. 29, 2013	Jun. 30, 2012
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 449,960	$ 365,373	$ 301,449
Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	3,025	3,032
Fair Value, Inputs, Level 1 [Member] \| Cash and Cash Equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	3,025	3,032
Fair Value, Inputs, Level 1 [Member] \| U.S. common stocks [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Fair Value, Inputs, Level 1 [Member] \| International common stocks [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Fair Value, Inputs, Level 1 [Member] \| U.S. government agencies [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Fair Value, Inputs, Level 1 [Member] \| U.S. corporate bonds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	446,935	362,341
Fair Value, Inputs, Level 2 [Member] \| Cash and Cash Equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Fair Value, Inputs, Level 2 [Member] \| U.S. common stocks [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	267,741	219,225
Fair Value, Inputs, Level 2 [Member] \| International common stocks [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	71,273	56,458
Fair Value, Inputs, Level 2 [Member] \| U.S. government agencies [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	10,439	10,004
Fair Value, Inputs, Level 2 [Member] \| U.S. corporate bonds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	97,482	76,654
Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Fair Value, Inputs, Level 3 [Member] \| Cash and Cash Equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Fair Value, Inputs, Level 3 [Member] \| U.S. common stocks [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Fair Value, Inputs, Level 3 [Member] \| International common stocks [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Fair Value, Inputs, Level 3 [Member] \| U.S. government agencies [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Fair Value, Inputs, Level 3 [Member] \| U.S. corporate bonds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Estimate of Fair Value, Fair Value Disclosure [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	449,960	365,373
Estimate of Fair Value, Fair Value Disclosure [Member] \| Cash and Cash Equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	3,025	3,032
Estimate of Fair Value, Fair Value Disclosure [Member] \| U.S. common stocks [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	267,741	219,225
Estimate of Fair Value, Fair Value Disclosure [Member] \| International common stocks [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	71,273	56,458
Estimate of Fair Value, Fair Value Disclosure [Member] \| U.S. government agencies [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	10,439	10,004
Estimate of Fair Value, Fair Value Disclosure [Member] \| U.S. corporate bonds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 97,482	$ 76,654

Pension and Retirement Plans (Details Textuals) $ in Millions	12 Months Ended
	Jun. 28, 2014 USD ($) h
Compensation and Retirement Disclosure [Abstract]
Minimum hours of service required to participate in the Pension plan during first year of service \| h	1,000
Unrecognized actuarial gain losses	$ 158.1
Unrecognized actuarial losses expected to be recognized in net periodic pension cost	13.0
Unrecognized prior service credit in net periodic pension cost	6.1
Unrecognized prior service credit Expected to be recognized net periodic pension cost	1.6
Company's net contribution in pension plans	$ 40.0
Target rate of return on pension plan	8.50%
Target allocation percentage of investments equity securities	76.00%
Target allocation percentage of investments equity securities, Minimum	60.00%
Target allocation percentage of investments equity securities, Maximum	92.00%
Description of plan amendment	The Plan was amended effective June 1, 2012 to improve pre-retirement death benefits so that the pre-retirement death benefits will be payable without regard to marital status, and will be based on 100% of the participant's vested cash account. The increase in liability is recognized as a prior service costs and will be amortized staring in fiscal year 2013.

Operating leases (Details) - USD ($) $ in Thousands	12 Months Ended
Operating leases (Details) - USD ($) $ in Thousands	Jun. 28, 2014	Jun. 29, 2013	Jun. 30, 2012
Rent expense charged to operations
Rent expense charged to operations, Total	$ 106,620	$ 94,087	$ 92,624

Operating leases (Operating Lease Commitments) (Details) $ in Thousands	Jun. 28, 2014 USD ($)
Minimum operating lease commitments, principally for buildings
2015	$ 91,242
2016	69,823
2017	55,204
2018	39,359
2019	29,846
Thereafter	92,015
Total	$ 377,489

Stock Based Compensation Plans (Fair Value Assumptions) (Details)	12 Months Ended
	Jun. 28, 2014	Jun. 29, 2013	Jun. 30, 2012
Volatility assumption on the basis of Avnet's Stock
Expected term (years)	6 years	6 years	6 years
Risk-free interest rate	1.70%	0.90%	1.20%
Weighted average volatility	34.30%	35.00%	33.70%
Dividend yield	1.50%	0.00%	0.00%

Stock Based Compensation Plans (Options Outstanding) (Details) - $ / shares	12 Months Ended
	Jun. 28, 2014	Jun. 29, 2013
Shares
Beginning balance	2,579,188
Granted	417,692
Exercised	(1,185,004)
Forfeited or expired	(2,700)
Ending balance	1,809,176	2,579,188
Exercisable at June 28, 2014	820,520
Weighted Average Exercise Price
Beginning balance	$ 26.65
Granted	39.04
Exercised	24.65
Forfeited or expired	17.47
Ending balance	30.84	$ 26.65
Exercisable at June 28, 2014	$ 27.40
Weighted Average Remaining Contractual Life
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2	81 months	70 months
Granted	109 months
Exercised	40 months
Forfeited or expired	3 months
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2	81 months	70 months
Exercisable	61 months

Stock Based Compensation Plans (Non-Vested) (Details)	12 Months Ended
Stock Based Compensation Plans (Non-Vested) (Details)	Jun. 28, 2014 $ / shares shares
Shares
Beginning balance	2,579,188
Granted	417,692
Forfeited or expired	(2,700)
Ending balance	1,809,176
Non Vested [Member]
Shares
Beginning balance	944,290
Granted	417,692
Vested	(373,326)
Forfeited or expired	0
Ending balance	988,656
Weighted Average Grant-Date Fair Value
Beginning balance \| $ / shares	$ 10.21
Granted \| $ / shares	11.45
Vested \| $ / shares	9.87
Forfeited \| $ / shares	0.00
Ending balance \| $ / shares	$ 10.86

Stock Based Compensation Plans (Non-Vested restricted Incentive Shares) (Details)	12 Months Ended
	Jun. 28, 2014 $ / shares shares
Shares
Beginning balance \| shares	2,009,510
Granted \| shares	1,060,152
Vested \| shares	(972,420)
Forfeited \| shares	(95,355)
Ending balance \| shares	2,001,887
Weighted Average Grant-Date Fair Value
Beginning balance \| $ / shares	$ 29.62
Granted \| $ / shares	39.05
Vested \| $ / shares	31.33
Forfeited \| $ / shares	33.54
Ending balance \| $ / shares	$ 33.60

Stock Based Compensation Plans (Details Textuals) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Jun. 28, 2014	Jun. 29, 2013	Jun. 30, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercisable	820,520
Performance shares granted	1,060,152
Stock Based Compensation Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 45.9	$ 43.7	$ 35.7
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant	375,741
Purchase price of common stock equal to market value	95.00%
Common stock issued under the ESPP program	57,048
Stock Plans [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock of shares reserved for stock option and stock incentive plans	11,346,890
Exercisable	1,809,176
Shares available for grant	6,371,765
Stock Incentive and Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted	2,790,208
Non Vested [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted	$ 11.45
Total unrecognized compensation cost related to non vested stock options	$ 2.6
Weighted average period for expected recognition of compensation cost	2 years 2 months 12 days
Total fair value of shares vested	$ 3.7	3.4	3.6
Cash received from exercise of stock options	4.7	2.1	2.4
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 4.7	$ 4.0	$ 3.1
Percentage of stock option vest under 2010 plan	25% increments on each anniversary of the grant date
Percentage of fair market value at the date of grant	100.00%
Granted	$ 11.45	$ 11.33	$ 9.67
Intrinsic values of share options outstanding	$ 23.3
Intrinsic values of share options exercisable	$ 13.4
Contractual life of stock options under 2010 plan	10 years
Incentive Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 34.4	$ 26.8	$ 21.0
Total unrecognized compensation cost related to non vested stock options	$ 51.7
Weighted average period for expected recognition of compensation cost	2 years 3 months 18 days
Shares previously awarded have not yet been delivered	2,001,887
Fair value of shares vested	$ 30.5	25.4	19.5
Contractual life of share-based compensation plan	5 years
Performance Share Program [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 5.8	$ 11.9	$ 10.5
Contractual life of share-based compensation plan	3 years
Performance shares granted	190,086	252,185	349,070
Forfeited share	3,020
Performance goals range, minimum	0.00%
Performance goals range, maximum	200.00%
Outside Director Stock Bonus Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 1.0	$ 1.0	$ 1.1

Commitments and contingencies (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 29, 2014	Sep. 28, 2013	Mar. 29, 2014	Jun. 28, 2014	Jun. 30, 2012
Business Acquisition [Line Items]
Bargain purchase and other	$ 3.0	$ 19.1	$ 22.1
Bell Microproducts Inc [Member]
Business Acquisition [Line Items]
Estimate of possible loss					$ 10.0
Range of possible loss, maximum				$ 73.0

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Jun. 28, 2014	Jun. 29, 2013	Jun. 30, 2012
Numerator:
Net income	$ 545,604	$ 450,073	$ 567,019
Denominator:
Weighted average common shares for basic earnings per share	137,991	137,951	147,278
Net effect of dilutive stock options, restricted incentive shares and performance shares	2,128	2,052	2,275
Weighted average common shares for diluted earnings per share	140,119	140,003	149,553
Basic earnings per share	$ 3.95	$ 3.26	$ 3.85
Diluted earnings per share	$ 3.89	$ 3.21	$ 3.79

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Earnings Per Share (Details Textuals) - shares	12 Months Ended
Earnings Per Share (Details Textuals) - shares	Jun. 28, 2014	Jun. 29, 2013	Jun. 30, 2012
Earnings Per Share [Abstract]
Antidilutive shares	0	600,000	200,000

Additional cash flow information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 28, 2014	Jun. 29, 2013	Jun. 30, 2012
Other non-cash and reconciling items
Provision for doubtful accounts receivable	$ 17,943	$ 30,802	$ 35,632
Periodic pension cost	34,093	36,993	24,172
Other, net	36,651	7,532	6,459
Total	88,687	75,327	66,263
Interest and income taxes paid
Interest	111,608	106,735	89,529
Income taxes	$ 181,117	$ 141,196	$ 192,717

Segment information (Details) - USD ($)
$ in Thousands

12 Months Ended

Jun. 28, 2014

Jun. 29, 2013

Jun. 30, 2012

Sales:

Sales

$ 27,499,654

$ 25,458,924

$ 25,707,522

Operating income (loss):

Operating income (loss)

931,300

807,900

985,600

Restructuring, integration and other expenses (Note 17)

(94,623)

(149,501)

(73,585)

Amortization of acquired intangible assets and other

46,800

32,400

27,800

Operating income

789,940

625,981

884,165

Assets:

Assets

11,255,517

10,474,680

Capital expenditures:

Purchases of property, plant and equipment

123,242

97,379

128,652

Depreciation & amortization expense:

Depreciation and amortization

92,464

88,333

73,551

Sales, by geographic area:

Sales

27,499,654

25,458,924

25,707,522

Property, plant and equipment, net, by geographic area:

Property, plant and equipment, net

534,999

492,606

Americas [Member]

Sales:

Sales

10,929,500

10,716,600

^[1]

11,499,300

^[1]

Sales, by geographic area:

Sales

10,929,500

10,716,600

^[1]

11,499,300

^[1]

Property, plant and equipment, net, by geographic area:

Property, plant and equipment, net

^[2]

306,200

283,000

278,500

EMEA [Member]

Sales:

Sales

8,246,100

7,277,900

^[3]

7,408,900

^[3]

Sales, by geographic area:

Sales

8,246,100

7,277,900

^[3]

7,408,900

^[3]

Property, plant and equipment, net, by geographic area:

Property, plant and equipment, net

^[4]

199,400

177,900

150,800

Asia/Pacific [Member]

Sales:

Sales

8,324,100

7,464,400

^[5]

6,799,300

^[5]

Sales, by geographic area:

Sales

8,324,100

7,464,400

^[5]

6,799,300

^[5]

Property, plant and equipment, net, by geographic area:

Property, plant and equipment, net

29,400

31,700

31,900

Electronics Marketing [Member]

Sales:

Sales

16,544,400

15,094,400

14,933,100

Operating income (loss):

Operating income (loss)

747,900

635,700

759,600

Assets:

Assets

6,840,200

6,316,300

6,024,300

Capital expenditures:

Purchases of property, plant and equipment

38,000

24,100

58,500

Depreciation & amortization expense:

Depreciation and amortization

48,800

51,800

38,900

Sales, by geographic area:

Sales

16,544,400

15,094,400

14,933,100

Technology Solutions [Member]

Sales:

Sales

10,955,300

10,364,500

10,774,400

Operating income (loss):

Operating income (loss)

317,800

299,100

338,900

Assets:

Assets

4,140,200

3,838,400

3,738,500

Capital expenditures:

Purchases of property, plant and equipment

43,800

26,600

41,300

Depreciation & amortization expense:

Depreciation and amortization

59,000

47,300

39,200

Sales, by geographic area:

Sales

10,955,300

10,364,500

10,774,400

Corporate [Member]

Operating income (loss):

Operating income (loss)

(134,400)

(126,900)

(112,900)

Assets:

Assets

275,100

320,000

405,100

Capital expenditures:

Purchases of property, plant and equipment

41,400

46,700

28,800

Depreciation & amortization expense:

Depreciation and amortization

$ 29,400

$ 21,600

$ 23,200

[1]	Includes sales in the United States of $9.68 billion, $9.43 billion and $10.00 billion for fiscal 2014, 2013 and 2012, respectively.
[2]	Includes property, plant and equipment, net, of $298.1 million, $273.4 million and $266.7 million in the United States for fiscal 2014, 2013 and 2012, respectively.
[3]	Includes sales in Germany and the United Kingdom of $3.31 billion and $1.36 billion, respectively, for fiscal 2014. Includes sales in Germany and the United Kingdom of $2.78 billion and $1.22 billion, respectively, for fiscal 2013. Includes sales in Germany and the United Kingdom of $2.60 billion and $1.40 billion, respectively, for fiscal 2012.
[4]	Includes property, plant and equipment, net, of $95.5 million, $61.0 million, and $12.6 million in Germany, Belgium and the United Kingdom, respectively, for fiscal 2014. Fiscal 2013 includes property, plant and equipment, net, of $92.7 million in Germany, $45.1 million in Belgium and $13.1 million in the United Kingdom. Fiscal 2012 includes property, plant and equipment, net, of $90.6 million in Germany, $26.4 million in Belgium and $17.3 million in the United Kingdom.
[5]	Includes sales of $2.63 billion, $2.93 billion and $1.19 billion in Taiwan, China (including Hong Kong) and Singapore, respectively, for fiscal 2014. Includes sales of $2.28 billion, $2.44 billion and $1.16 billion in Taiwan, China (including Hong Kong) and Singapore, respectively, for fiscal 2013. Includes sales of $1.90 billion, $2.30 billion and $1.20 billion in Taiwan, China (including Hong Kong) and Singapore, respectively, for fiscal 2012.

Segment information (Sales) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 28, 2014	Jun. 29, 2013	Jun. 30, 2012
Revenue from External Customer [Line Items]
Sales	$ 27,499,654	$ 25,458,924	$ 25,707,522
Semiconductors [Member]
Revenue from External Customer [Line Items]
Sales	13,160,900	13,720,800	13,461,600
Computer Products [Member]
Revenue from External Customer [Line Items]
Sales	10,571,600	9,346,000	9,984,400
Connectors [Member]
Revenue from External Customer [Line Items]
Sales	794,700	687,600	667,500
Passives, electromechanical and other [Member]
Revenue from External Customer [Line Items]
Sales	$ 2,972,500	$ 1,704,500	$ 1,594,000

Segment Information (Details Textuals) - USD ($) $ in Thousands	12 Months Ended
	Jun. 28, 2014	Jun. 29, 2013	Jun. 30, 2012
Segment Reporting Information [Line Items]
Sales previously reported in EM prior to transfer of business	$ 443,300
Sales	27,499,654	$ 25,458,924	$ 25,707,522
Property, plant and equipment, net	534,999	492,606
United States [Member]
Segment Reporting Information [Line Items]
Sales	9,680,000	9,430,000	10,000,000
Property, plant and equipment, net	298,100	273,400	266,700
Germany [Member]
Segment Reporting Information [Line Items]
Sales	3,310,000	2,780,000	2,600,000
Property, plant and equipment, net	95,500	92,700	90,600
Belgium [Member]
Segment Reporting Information [Line Items]
Property, plant and equipment, net	61,000	45,100	26,400
United Kingdom [Member]
Segment Reporting Information [Line Items]
Sales	1,360,000	1,220,000	1,400,000
Property, plant and equipment, net	12,600	13,100	17,300
Taiwan [Member]
Segment Reporting Information [Line Items]
Sales	2,630,000	2,280,000	1,900,000
China [Member]
Segment Reporting Information [Line Items]
Sales	2,930,000	2,440,000	2,300,000
Singapore [Member]
Segment Reporting Information [Line Items]
Sales	$ 1,190,000	$ 1,160,000	$ 1,200,000

Restructuring, integration and other expenses (Restructuring, Integration and Other Expenses) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 28, 2014	Jun. 29, 2013	Jun. 30, 2012
Charges related to the acquisition and integration activities
Restructuring, integration and other expenses before tax	$ 94,623	$ 149,501	$ 73,585
Fiscal 2014 [Member]
Charges related to the acquisition and integration activities
Restructuring expenses	65,749
Integration costs	20,455
Other costs including acquisition costs	8,767
Changes in estimate for prior year restructuring liabilities	(348)
Restructuring, integration and other expenses before tax	94,623
Restructuring, integration and other expenses after tax	$ 70,773
Restructuring, integration and other expenses per share on a diluted basis	$ 0.50
Fiscal 2013 [Member]
Charges related to the acquisition and integration activities
Restructuring expenses		120,048
Integration costs		35,742
Other costs including acquisition costs		(3,224)
Changes in estimate for prior year restructuring liabilities		(3,065)
Restructuring, integration and other expenses before tax		149,501
Restructuring, integration and other expenses after tax		$ 116,382
Restructuring, integration and other expenses per share on a diluted basis		$ 0.83
Fiscal 2012 [Member]
Charges related to the acquisition and integration activities
Restructuring expenses			50,253
Integration costs			9,392
Other costs including acquisition costs			17,226
Changes in estimate for prior year restructuring liabilities			(3,286)
Restructuring, integration and other expenses before tax			73,585
Restructuring, integration and other expenses after tax			$ 52,963
Restructuring, integration and other expenses per share on a diluted basis			$ 0.35

Restructuring, integration and other expenses (Restructuring Liabilities) (Details) $ in Thousands	12 Months Ended
	Jun. 28, 2014 USD ($)
Fiscal Year 2014 [Member]
Activity related to the restructuring reserves
Restructuring charges	$ 65,749
Cash payments	(32,228)
Non-cash amounts	(5,704)
Other, principally foreign currency translation	(32)
Ending balance	27,785
Fiscal Year 2014 [Member] \| Severance Reserves [Member]
Activity related to the restructuring reserves
Restructuring charges	53,260
Cash payments	(29,191)
Non-cash amounts	(260)
Other, principally foreign currency translation	(65)
Ending balance	23,744
Fiscal Year 2014 [Member] \| Facility Exit Costs and Asset Impairments [Member]
Activity related to the restructuring reserves
Restructuring charges	11,608
Cash payments	(3,028)
Non-cash amounts	(4,906)
Other, principally foreign currency translation	23
Ending balance	3,697
Fiscal Year 2014 [Member] \| Other [Member]
Activity related to the restructuring reserves
Restructuring charges	881
Cash payments	(9)
Non-cash amounts	(538)
Other, principally foreign currency translation	10
Ending balance	344
Fiscal Year 2013 [Member]
Activity related to the restructuring reserves
Beginning balance	41,835
Cash payments	(28,135)
Changes in estimates, net	(2,921)
Non-cash amounts	443
Other, principally foreign currency translation	663
Ending balance	11,885
Fiscal Year 2013 [Member] \| Severance Reserves [Member]
Activity related to the restructuring reserves
Beginning balance	25,254
Cash payments	(20,137)
Changes in estimates, net	(2,283)
Non-cash amounts	0
Other, principally foreign currency translation	166
Ending balance	3,000
Fiscal Year 2013 [Member] \| Facility Exit Costs and Asset Impairments [Member]
Activity related to the restructuring reserves
Beginning balance	16,211
Cash payments	(7,672)
Changes in estimates, net	(1,601)
Non-cash amounts	928
Other, principally foreign currency translation	408
Ending balance	8,274
Fiscal Year 2013 [Member] \| Other [Member]
Activity related to the restructuring reserves
Beginning balance	370
Cash payments	(326)
Changes in estimates, net	963
Non-cash amounts	(485)
Other, principally foreign currency translation	89
Ending balance	$ 611

Restructuring, integration and other expenses (Details Textuals) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 30, 2013 USD ($)	Jun. 28, 2014 USD ($) employees	Jun. 29, 2013 USD ($)	Jun. 30, 2012 USD ($)
Restructuring Cost and Reserve [Line Items]
Legal claim				$ 6,700
Fiscal Year 2014 [Member]
Restructuring Cost and Reserve [Line Items]
Number of employee reductions under Severance charges \| employees		1,100
Restructuring charges		$ 65,749
Restructuring Reserve		27,785
Fiscal Year 2013 [Member]
Restructuring Cost and Reserve [Line Items]
Reversal of an earn-out liability	$ 11,200
Restructuring Reserve		11,885	$ 41,835
Fiscal Year 2012 [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve		1,200	4,700
Electronics Marketing [Member] \| Fiscal Year 2014 [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		41,300
Electronics Marketing [Member] \| Fiscal Year 2013 [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges			68,900
Electronics Marketing [Member] \| Fiscal Year 2012 [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges				27,500
Technology Solutions [Member] \| Fiscal Year 2014 [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		23,100
Technology Solutions [Member] \| Fiscal Year 2013 [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges			48,000
Technology Solutions [Member] \| Fiscal Year 2012 [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges				$ 22,800
Business Support [Member] \| Fiscal Year 2014 [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ 1,300
Business Support [Member] \| Fiscal Year 2013 [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges			$ 3,100

Valuation And Qualifying Acccounts (Details) - USD ($)
$ in Thousands

12 Months Ended

Jun. 28, 2014

Jun. 29, 2013

Jun. 30, 2012

Valuation and Qualifying Accounts (Textuals) [Abstract]

Tax benefit release of valuation allowance against deferred tax assets

$ 39,600

$ 31,900

Impact to deferred taxes associated with the release of valuation allowance

6,000

4,800

Allowance for doubtful accounts [Member]

Movement in Valuation Allowances and Reserves [Roll Forward]

Balance at Beginnig of Period

95,656

106,319

$ 107,739

Charged to Expense (Income)

17,943

30,802

35,632

Charged to Other Accounts

Deductions

^[1]

(17,217)

(41,465)

(37,052)

Balance at End of Period

96,382

95,656

106,319

Valuation allowance on foreign tax loss carry forwards (Note 9) [Member]

Movement in Valuation Allowances and Reserves [Roll Forward]

Balance at Beginnig of Period

230,821

244,093

310,772

Charged to Expense (Income)

(52,719)

^[2]

(41,572)

^[3]

(30,785)

Charged to Other Accounts

4,021

^[4]

28,300

^[5]

(35,894)

^[6]

Deductions

Balance at End of Period

$ 182,123

$ 230,821

$ 244,093

[1]	Uncollectible receivables written off.
[2]	Represents a reduction primarily due to the release of valuation allowance in EMEA, of which $39.6 million impacted the effective tax rate offset by $6.0 million, which impacted deferred taxes associated with the release of the valuation allowance (see Note 9).
[3]	Represents a reduction primarily due to the release of valuation allowance in EMEA, of which $31.9 million impacted the effective tax rate offset by $4.8 million, which impacted deferred taxes associated with the release of the valuation allowance (see Note 9).
[4]	Primarily related to rate changes on valuation allowances previously established in various foreign jurisdictions.
[5]	Primarily related to additional valuation allowances for newly acquired companies and companies with a history of losses.
[6]	Primarily relates to the translation impact of changes in foreign currency exchange rates and acquired valuation allowances.