Working capital

9 Months Ended

Mar. 30, 2024

Working capital

Working capital

2. Working capital

Receivables

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

	March 30,		July 1,
	2024		2023
	(Thousands)
Receivables	$	4,427,588	$	4,876,631
Allowance for Credit Losses	$	(112,525)	$	(112,843)

The Company had the following activity in the allowance for credit losses during the first nine months of fiscal 2024 and fiscal 2023:

	March 30,		April 1,
	2024		2023
	(Thousands)
Balance at beginning of the period	$	112,843	$	113,902
Credit Loss Provisions		7,920		9,079
Credit Loss Recoveries		(812)		(140)
Receivables Write Offs		(6,784)		(14,868)
Foreign Currency Effect and Other		(642)		2,249
Balance at end of the period	$	112,525	$	110,222

Inventories

The Company’s inventories are primarily comprised of electronic components purchased from the Company’s suppliers, which are available for sale to customers in the normal course of the Company’s electronic component distribution business. Classified within inventories are electronic components held for supply chain service engagements where the Company is acting as an agent on behalf of an Original Equipment Manufacturer or in some cases the component supplier. Given that these supply chain services involve purchasing and warehousing components as part of the services, the Company classifies the underlying components within inventories on the consolidated balance sheets. Components held for supply chain services where the Company is acting as an agent represented approximately 11% of inventories as of March 30, 2024, and approximately 8% of inventories as of July 1, 2023.