Working capital

3 Months Ended

Sep. 27, 2025

Working capital

Working capital

2. Working capital

Receivables

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

	September 27,		June 28,
	2025		2025
	(Thousands)
Gross receivables	$	4,608,351	$	4,435,645
Allowance for credit losses		(104,873)		(108,195)
Receivables	$	4,503,478	$	4,327,450

The Company had the following activity in the allowance for credit losses during the first quarters of fiscal 2026 and fiscal 2025:

	September 27,		September 28,
	2025		2024
	(Thousands)
Balance at beginning of the period	$	108,195	$	108,504
Credit Loss (Releases) Provisions		(1,737)		1,552
Credit Loss Recoveries		62		10
Receivables Write Offs		(1,107)		(1,170)
Foreign Currency Effect and Other		(540)		3,352
Balance at end of the period	$	104,873	$	112,248

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 a customer 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 5% of inventories as of September 27, 2025, and approximately 6% of inventories as of June 28, 2025.