Goodwill and intangible assets

6 Months Ended

Dec. 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 six months ended December 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	17,483			113,524			131,007
Adjustments	7,185			(7,185		)	—
Foreign currency translation	6,653			10,622			17,275
Carrying value at December 29, 2012	$	576,630		$	672,273		$	1,248,903

Gross goodwill	$	1,621,740		$	1,006,897		$	2,628,637
Accumulated impairment	(1,045,110		)	(334,624		)	(1,379,734		)
Carrying value at December 29, 2012	$	576,630		$	672,273		$	1,248,903

The goodwill additions are a result of businesses acquired during the first six months 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 TS to EM.

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



	December 29, 2012							June 30, 2012
	Gross Carrying Amount		Accumulated Amortization			Net Book Value		Gross Carrying Amount		Accumulated Amortization			Net Book Value
	(Thousands)
Customer relationships	$	266,183	$	(92,948	)	$	173,235	$	248,105	$	(76,645	)	$	171,460
Customer lists	3,926		(1,876		)	2,050		3,690		(1,279		)	2,411
Trade name	3,320		(1,150		)	2,170		3,820		(970		)	2,850
Other	4,178		(438		)	3,740		5,052		(434		)	4,618
	$	277,607	$	(96,412	)	$	181,195	$	260,667	$	(79,328	)	$	181,339

Intangible asset amortization expense was $8,022,000 and $6,127,000 for the second quarter of fiscal 2013 and 2012, respectively, and $15,076,000 and $12,290,000 for the first six months of fiscal 2013 and 2012, respectively. The following table presents the estimated future amortization expense for the next five fiscal years (in thousands):



Fiscal Year
2014	$	35,012
2015	33,690
2016	27,957
2017	25,784
2018	14,373

- 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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