Goodwill and intangible assets

3 Months Ended

Sep. 29, 2012

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and intangible assets disclosures [Text Block]

Goodwill and intangible assets

The following table presents the change in the goodwill balances by reportable segment for the three months ended September 29, 2012. All of the accumulated impairment was recognized in fiscal 2009.



	Electronics Marketing			Technology Solutions			Total
	(Thousands)
Gross goodwill	$	1,590,419		$	889,936		$	2,480,355
Accumulated impairment	(1,045,110		)	(334,624		)	(1,379,734		)
Carrying value at June 30, 2012	545,309			555,312			1,100,621
Additions	13,837			27,427			41,264
Adjustments	7,185			(7,185		)	—
Foreign currency translation	6,644			6,607			13,251
Carrying value at September 29, 2012	572,975			582,161			1,155,136

Gross goodwill	1,618,085			916,785			2,534,870
Accumulated impairment	(1,045,110		)	(334,624		)	(1,379,734		)
Carrying value at September 29, 2012	$	572,975		$	582,161		$	1,155,136

The goodwill additions are a result of businesses acquired during the first quarter of fiscal 2013 (see Note 2) and purchase accounting adjustments during the purchase price allocation period. The adjustment to goodwill is a result of the transfer of a business unit from EM to TS.

The following table presents the Company’s identifiable intangible assets at September 29, 2012 and June 30, 2012, respectively. These balances are included in "other assets" and have a weighted average life of 8 years.



	September 29, 2012							June 30, 2012
	Gross Carrying Amount		Accumulated Amortization			Net Book Value		Gross Carrying Amount		Accumulated Amortization			Net Book Value
	(Thousands)
Customer relationships	$	245,674	$	(84,993	)	$	160,681	$	248,105	$	(76,645	)	$	171,460
Customer lists	3,853		(1,591		)	2,262		3,690		(1,279		)	2,411
Trade name	3,320		(878		)	2,442		3,820		(970		)	2,850
Other	4,396		(508		)	3,888		5,052		(434		)	4,618
	$	257,243	$	(87,970	)	$	169,273	$	260,667	$	(79,328	)	$	181,339

Amortization expense for the first quarter of fiscal 2013 and 2012 was $7,054,000 and $6,178,000, respectively. The following table presents the estimated future amortization expense for the next five fiscal years (in thousands):



Fiscal Year
2014	$	32,106
2015	30,786
2016	25,203
2017	23,049
2018	11,765

- 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.

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