Working capital

12 Months Ended

Jun. 29, 2024

Working capital

Working capital

4. Working capital

Receivables

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

	June 29,		July 1,
	2024		2023
	(Thousands)
Receivables	$	4,499,691	$	4,876,631
Allowance for Credit Losses	$	(108,504)	$	(112,843)

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

	June 29,		July 1,
	2024		2023
	(Thousands)
Balance at beginning of the period	$	112,843	$	113,902
Credit Loss Provisions		12,570		16,798
Credit Loss Recoveries		(1,584)		(931)
Receivables Write Offs		(14,060)		(18,552)
Foreign Currency Effect and Other		(1,265)		1,626
Balance at end of the period	$	108,504	$	112,843

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 (components) 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, warehousing and providing logistics services for 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 7% and 8% of inventories as of June 29, 2024, and July 1, 2023, respectively.