Working capital

6 Months Ended

Dec. 30, 2023

Working capital

Working capital

2. Working capital

Receivables

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

	December 30,		July 1,
	2023		2023
	(Thousands)
Receivables	$	4,624,549	$	4,876,631
Allowance for Credit Losses	$	(115,807)	$	(112,843)

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

	December 30,		December 31,
	2023		2022
	(Thousands)
Balance at beginning of the period	$	112,843	$	113,902
Credit Loss Provisions		6,564		4,803
Credit Loss Recoveries		(940)		(456)
Receivables Write Offs		(3,885)		(12,476)
Foreign Currency Effect and Other		1,225		732
Balance at end of the period	$	115,807	$	106,505

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 where the Company is acting as an agent on behalf of an Original Equipment Manufacturer or in some cases the component supplier. Components held for supply chain services where the Company is acting as an agent represented approximately 10% of inventories as of December 30, 2023, and approximately 8% of inventories as of July 1, 2023.