SEC Comment Letter 0000000000-24-004146 to AVNET INC (AVT) (CIK 0000008858) (AVT)
AVNET INC (AVT) (CIK 0000008858)
Date: April 17, 2024 · CIK: 0000008858 · Accession: 0000000000-24-004146
AI Filing Summary & Sentiment
File numbers found in text: 001-04224
Letter
United States securities and exchange commission logo April 17, 2024 Kenneth Jacobson Chief Financial Officer Avnet, Inc. 2211 South 47th Street Phoenix, AZ 85034 Re:Avnet, Inc. Form 10-K Fiscal Year Ended July 1, 2023 Form 10-Q for Fiscal Quarter Ended December 30, 2023 File No. 001-04224 Dear Kenneth Jacobson: We have reviewed your April 12, 2024 response to our comment letter and have the following comment(s). Please respond to this letter within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe a comment applies to your facts and circumstances, please tell us why in your response. After reviewing your response to this letter, we may have additional comments. Unless we note otherwise, any references to prior comments are to comments in our March 15, 2024 letter. Form 10-Q for Fiscal Quarter Ended December 30, 2023 Note 2. Working Capital Inventories, page 8 1.We note your response to prior comment 2. Please further explain to us your accounting for transactions for electronic components held for supply chain service engagements by providing example representative journal entries (with example dollar amounts) you record upon receipt, preparation, and delivery of such components (including the effects of such transactions on your inventory, revenue, cost of sales, and any other impacted accounts).
FirstName LastNameKenneth Jacobson Comapany NameAvnet, Inc. April 17, 2024 Page 2 FirstName LastName Kenneth Jacobson Avnet, Inc. April 17, 2024 Page 2 Please contact Robert Shapiro at 202-551-3273 or Lyn Shenk at 202-551-3380 if you have questions regarding comments on the financial statements and related matters. Sincerely, Division of Corporation Finance Office of Trade & Services
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United States securities and exchange commission logo
April 17, 2024
Kenneth Jacobson
Chief Financial Officer
Avnet, Inc.
2211 South 47th Street
Phoenix, AZ 85034
Re:Avnet, Inc.
Form 10-K Fiscal Year Ended July 1, 2023
Form 10-Q for Fiscal Quarter Ended December 30, 2023
File No. 001-04224
Dear Kenneth Jacobson:
We have reviewed your April 12, 2024 response to our comment letter and have the
following comment(s).
Please respond to this letter within ten business days by providing the requested
information or advise us as soon as possible when you will respond. If you do not believe a
comment applies to your facts and circumstances, please tell us why in your response.
After reviewing your response to this letter, we may have additional comments. Unless
we note otherwise, any references to prior comments are to comments in our March 15, 2024
letter.
Form 10-Q for Fiscal Quarter Ended December 30, 2023
Note 2. Working Capital
Inventories, page 8
1.We note your response to prior comment 2. Please further explain to us your accounting
for transactions for electronic components held for supply chain service engagements by
providing example representative journal entries (with example dollar amounts)
you record upon receipt, preparation, and delivery of such components (including
the effects of such transactions on your inventory, revenue, cost of sales, and any other
impacted accounts).
FirstName LastNameKenneth Jacobson
Comapany NameAvnet, Inc.
April 17, 2024 Page 2
FirstName LastName
Kenneth Jacobson
Avnet, Inc.
April 17, 2024
Page 2
Please contact Robert Shapiro at 202-551-3273 or Lyn Shenk at 202-551-3380 if you
have questions regarding comments on the financial statements and related matters.
Sincerely,
Division of Corporation Finance
Office of Trade & Services