安富利 2024年度报告

Form10-K ☑ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year endedJune 28, 2025or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities ExchangeAct of 1934 during the preceding 12months (or for such shorter period that the registrant was required to file such reports), and (2)has beensubject to such filing requirements for the past 90days.YesþNo◻ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant toRule405 of RegulationS-T during the preceding 12months (or for such shorter period that the registrant was required to submit such files).YesþNo◻ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting company” and“emerging growth company” in Rule12b-2 of the Exchange Act. Accelerated Filer◻Non-accelerated Filer◻Smaller Reporting Company☐Emerging Growth Company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complyingwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.◻ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of itsinternal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accountingfirm that prepared or issued its audit report.☑ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrantincluded in the filing reflect the correction of an error to previously issued financial statements☐ Indicate by check mark whether any of those error corrections are restatements that require a recovery analysis of incentive-basedcompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to Section 240.10D-1(b).◻ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act). Yes☐No☑ The aggregate market value (approximate)of the registrant’s common equity held by non-affiliates based on the closing price of a share ofthe registrant’s common stock for Nasdaq Global Select Market composite transactions on December27, 2024 (the last business day of theregistrant’s most recently completed second fiscal quarter) was $4,521,795,970. As of August 7, 2025, the total number of shares outstanding of the registrant’s Common Stock was83,462,743shares, net of treasury DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant’s definitive proxy statement (to be filed pursuant to Reg. 14A) relating to the Annual Meeting of Shareholders anticipatedto be held on November 21, 2025, are incorporated herein by reference in PartIII of this Report. TABLE OF CONTENTS PART I Item 1. Business3Item 1A. Risk Factors8Item 1B. Unresolved Staff Comments17Item 1C. Cybersecurity17Item 2. Properties19Item 3. Legal Proceedings19Item 4. Mine Safety Disclosures19 PART II Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchasesof Equity Securities20Item 6. [Reserved]22Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations22Item 7A. Quantitative and Qualitative Disclosures About Market Risk32Item 8. Financial Statements and Supplementary Data34Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure69Item 9A. Controls and Procedures69Item 9B. Other Information69Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections69PART IIIItem 10. Directors, Executive Officers and Corporate Governance70Item 11. Executive Compensation70Item 12. Security Ownership of Certain Beneficial Owners and Management and RelatedStockholder Matters70Item 13. Certain Relationships and Related Transactions, and Director Independence70Item 14. Principal Accounting Fees and Services70PART IVItem 15. Exhibits and Financial Statement Schedules70Item 16. Form 10-K Summary74Signature Page76 PARTI Item1. Business Avnet, Inc. and its consolidated subsidiaries (collectively, the “Company” or “Avnet”), is aleading global electronic component technology distributor and solutions provider that has servedcustomers’ evolving needs for more than a century. Founded in 1921, the Company works withelectronic component manufacturers (suppliers) in every major electronic component segment toserve customers in more than 140 countries. Avnet serves a wide