Segment information

3 Months Ended

Oct. 03, 2026

Segment information

Segment information

12. Segment information

Avnet has two primary operating reportable segments — Electronic Components (“EC”) and Farnell (“Farnell”). Both reportable segments aggregate the operating segments in each of the three major economic regions of the world: (i) the Americas, (ii) EMEA, and (iii) Asia. Each operating segment also has distinct financial reporting to the executive level, which informs operating decisions, strategic planning, and resource allocation for the Company as a whole. The company concluded that identifying operating segments by major geographic region within each of the company’s major businesses was consistent with ASC 280 and it has aggregated geographic operating segments within EC and Farnell reportable segments based on similar characteristics including long-term financial performance, the nature of products and services provided, process for delivering those products and services, and types of customers.

The Company has identified its Chief Executive Officer (“CEO”) as the chief operating decision maker (“CODM”). The CODM evaluates the performance of operating and reportable segments based on operating income. Sales, cost of goods sold, and operating expenses are also monitored closely. This information is used to monitor operating margins, measure segment profitability, allocate resources, and make budgeting and forecasting decisions about the reportable segments. The CODM also uses these measures to monitor trends in year-over-year performance comparisons, sequential quarter performance comparisons, and to compare actual results to forecasts.

	First Quarters Ended
	October 3,		September 27,
	2026 *		2025 *
	(Thousands)
Sales
Electronic Components	$	10,134,689	$	5,499,690
Farnell		583,291		398,882
Avnet Sales	$	10,717,980	$	5,898,572
Significant Segment Expenses and Operating Income:
Electronic Components
Cost of goods sold	$	9,229,797	$	4,992,639
Selling, general and administrative expenses		420,434		348,037
Operating income	$	484,458	$	159,014
Farnell
Cost of goods sold	$	414,207	$	291,168
Selling, general and administrative expenses		110,485		90,617
Operating income	$	58,599	$	17,097
Total reportable segment operating income	$	543,057	$	176,111
Corporate
Corporate selling, general and administrative expenses	$	(44,993)	$	(25,424)
Restructuring, integration, and other expenses		(22,936)		(8,291)
Amortization of acquired intangible assets		(392)		(364)
Avnet operating income	$	474,736	$	142,032
Capital expenditures:
Electronic Components	$	23,559	$	20,730
Farnell		700		3,857
Corporate		3		2
	$	24,262	$	24,589
Depreciation & amortization expense:
Electronic Components	$	14,045	$	11,873
Farnell		4,759		4,954
Corporate		445		12
	$	19,249	$	16,839
Sales, by geographic area:
Americas	$	2,861,757	$	1,369,920
EMEA		2,737,489		1,665,879
Asia		5,118,734		2,862,773
Avnet Sales	$	10,717,980	$	5,898,572

*May not foot due to rounding.

Assets by segment as follows:

	October 3,		June 27,
	2026 *		2026
	(Thousands)
Assets:
Electronic Components	$	16,287,557	$	13,361,020
Farnell		1,799,878		1,764,060
Corporate		377,905		300,313
	$	18,465,340	$	15,425,393