Goodwill and intangible assets

9 Months Ended

Mar. 30, 2013

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and intangible assets disclosures [Text Block]

Goodwill and intangible assets

The following table presents the change in the goodwill balances by reportable segment for the nine months ended March 30, 2013. All of the accumulated impairment was recognized in fiscal 2009.



	Electronics Marketing			Technology Solutions			Total
	(Thousands)
Gross goodwill	$	1,590,419		$	889,936		$	2,480,355
Accumulated impairment	(1,045,110		)	(334,624		)	(1,379,734		)
Carrying value at June 30, 2012	545,309			555,312			1,100,621
Additions	39,100			115,427			154,527
Adjustments	7,185			(7,185		)	—
Write-down due to exit of business	(5,408		)	—			(5,408		)
Foreign currency translation	(225		)	4,196			3,971
Carrying value at March 30, 2013	$	585,961		$	667,750		$	1,253,711

Gross goodwill	$	1,636,479		$	1,002,374		$	2,638,853
Accumulated impairment	(1,050,518		)	(334,624		)	(1,385,142		)
Carrying value at March 30, 2013	$	585,961		$	667,750		$	1,253,711

The goodwill additions are a result of businesses acquired during the first nine months of fiscal 2013 (see Note 2) and purchase accounting adjustments during the purchase price allocation period. The adjustment to goodwill is a result of the transfer of a business unit from TS to EM. During the third quarter of fiscal 2013, the Company recorded a write-down of goodwill of $5,408,000 associated with the planned exit of a non-integrated business in the EM Americas region that is expected to take place in the fourth quarter of fiscal 2013 that is included in restructuring, integration and other in the accompanying consolidated statement of operations.

The following table presents the Company’s identifiable intangible assets at March 30, 2013 and June 30, 2012, respectively. These balances are included in "other assets" and have a weighted average life of 8 years.



	March 30, 2013							June 30, 2012
	Gross Carrying Amount		Accumulated Amortization			Net Book Value		Gross Carrying Amount		Accumulated Amortization			Net Book Value
	(Thousands)
Customer relationships	$	271,515	$	(100,180	)	$	171,335	$	248,105	$	(76,645	)	$	171,460
Customer lists	3,774		(2,050		)	1,724		3,690		(1,279		)	2,411
Trade name	3,320		(446		)	2,874		3,820		(970		)	2,850
Other	4,172		(820		)	3,352		5,052		(434		)	4,618
	$	282,781	$	(103,496	)	$	179,285	$	260,667	$	(79,328	)	$	181,339

Intangible asset amortization expense was $8,740,000 and $6,853,000 for the third quarter of fiscal 2013 and 2012, respectively, and $23,816,000 and $19,143,000 for the first nine months of fiscal 2013 and 2012, respectively. The following table presents the estimated future amortization expense for the remainder of fiscal 2013 and next five fiscal years (in thousands):



Fiscal Year
Remainder of fiscal 2013	$	8,663
2014	35,225
2015	33,911
2016	28,264
2017	26,098
2018	14,984

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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