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Segment information
6 Months Ended
Dec. 29, 2018
Segment information  
Segment information

13. Segment information

 

Electronic Components (“EC”) and Premier Farnell (“PF”) are the Company’s reportable segments (“operating groups”). EC markets and sells semiconductors and interconnect, passive and electromechanical devices and integrated components to a diverse customer base serving many end-markets. PF distributes electronic components and related products to the electronic system design community utilizing multi-channel sales and marketing resources.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Second Quarters Ended

 

Six Months Ended

 

 

December 29,

 

December 30,

 

December 29,

 

December 30,

 

 

2018

    

2017

 

2018

 

2017

 

 

(Thousands)

Sales:

    

 

    

    

 

    

    

 

    

    

 

    

Electronic Components

 

$

4,680,714

 

$

4,163,519

 

$

9,391,540

 

$

8,470,769

Premier Farnell

 

 

368,266

 

 

358,117

 

 

747,319

 

 

711,809

 

 

 

5,048,980

 

 

4,521,636

 

 

10,138,859

 

 

9,182,578

Operating income:

 

 

 

 

 

 

 

 

 

 

 

 

Electronic Components

 

$

158,551

 

$

129,848

 

$

320,464

 

$

269,449

Premier Farnell

 

 

39,644

 

 

33,451

 

 

80,436

 

 

66,083

 

 

 

198,195

 

 

163,299

 

 

400,900

 

 

335,532

Corporate (1)

 

 

(19,372)

 

 

(23,043)

 

 

(39,546)

 

 

(58,729)

Restructuring, integration and other expenses

 

 

(62,260)

 

 

(36,762)

 

 

(77,048)

 

 

(83,156)

Amortization of acquired intangible assets and other

 

 

(20,513)

 

 

(21,877)

 

 

(41,440)

 

 

(47,462)

Operating income

 

$

96,050

 

$

81,617

 

$

242,866

 

$

146,185

 

 

 

 

 

 

 

 

 

 

 

 

 

Sales, by geographic area:

 

 

 

 

 

 

 

 

 

 

 

 

Americas (2)

 

$

1,300,423

 

$

1,210,251

 

$

2,572,216

 

$

2,395,735

EMEA (3)

 

 

1,668,575

 

 

1,506,015

 

 

3,383,492

 

 

3,199,000

Asia/Pacific (4)

 

 

2,079,982

 

 

1,805,370

 

 

4,183,151

 

 

3,587,843

Sales

 

$

5,048,980

 

$

4,521,636

 

$

10,138,859

 

$

9,182,578

 


(1)Corporate is not a reportable segment and represents certain centrally incurred overhead expenses and assets that are not included in the EC and PF measures of profitability or assets. Corporate amounts represent a reconciling item between segment measures of profitability or assets and total Avnet amounts reported in the consolidated financial statements.

 

(2)Includes sales from the United States of $1.21 billion and $1.12 billion for the second quarters ended December 29, 2018 and December 30, 2017, respectively. Includes sales from the United States of $2.39 billion and $2.21 billion for the first six months of fiscal 2019 and 2018, respectively.

 

(3)Includes sales from Germany and Belgium of $648.5 million and $276.2 million, respectively, for the second quarter ended December 29, 2018, and $1.33 billion and $556.3 million, respectively, for the first six months of fiscal 2019. Includes sales from Germany and Belgium of $577.5 million and $242.4 million, respectively, for the second quarter ended December 30, 2017, and $1.27 billion and $504.9 million, respectively, for the first six months of fiscal 2018.

 

(4)Includes sales from China (including Hong Kong), Taiwan and Singapore of $668.4 million, $926.1 million and $261.9 million, respectively, for the second quarter ended December 29, 2018, and $1.36 billion, $1.81 billion and $542.3 million, respectively, for the first six months of fiscal 2019. Includes sales from China (including Hong Kong), Taiwan and Singapore of $633.6 million, $715.3 million and $217.3 million, respectively, for the second quarter ended December 30, 2017, and $1.28 billion, $1.37 billion and $446.2 million, respectively, for the first six months of fiscal 2018.

 

 

 

 

 

 

 

 

 

 

 

December 29,

 

June 30,

 

 

 

2018

 

2018

 

 

 

(Thousands)

 

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

 

 

 

 

 

 

 

Americas (1)

 

$

230,544

 

$

276,156

 

EMEA (2)

 

 

192,311

 

 

204,797

 

Asia/Pacific

 

 

40,059

 

 

41,956

 

Property, plant, and equipment, net

 

$

462,914

 

$

522,909

 

 


(1)Includes property, plant and equipment, net, of $224.6 million and $271.4 million as of December 29, 2018, and June 30, 2018, respectively, in the United States.

 

(2)Includes property, plant and equipment, net, of $97.2 million, $58.3 million and $27.3 million in Germany, UK and Belgium, respectively, as of December 29, 2018; and $99.4 million, $52.5 million and $43.4 million in Germany, UK and Belgium, respectively, as of June 30, 2018.