Receivables and Russian-Ukraine conflict related expenses (Tables)

12 Months Ended

Jul. 02, 2022

Receivables and Russian-Ukraine conflict related expenses

Schedule of receivables and allowance for credit losses

The Company’s receivables and allowance for credit losses were as follows:

	July 2,		July 3,
	2022		2021
	(Thousands)
Receivables	$	4,414,904	$	3,664,290
Allowance for Credit Losses		(113,902)		(88,160)

The Company had the following activity in the allowance for credit losses during fiscal 2022:

	July 2,		July 3,
	2022		2021
	(Thousands)
Balance at beginning of the period	$	88,160	$	65,018
Effect of adopting credit loss accounting standard		—		17,205
Credit Loss Provisions		31,489		18,429
Russian-Ukraine conflict Credit Loss Provisions		17,202		—
Credit Loss Recoveries		(702)		(2,587)
Receivables Write offs		(15,233)		(6,240)
Foreign Currency Effect and Other		(7,014)		(3,665)
Balance at end of the period	$	113,902	$	88,160