XML 25 R14.htm IDEA: XBRL DOCUMENT
v3.22.2

Financial Instruments | 6 Months Ended
--- | ---
Jun. 30, 2022
Financial Instruments [Abstract] |
Financial Instruments | Financial Instruments The Company does not hold or issue derivative financial instruments for trading or speculative purposes. The Company’s indebtedness creates interest rate risk on its variable-rate debt. The Company uses derivative financial instruments to manage its exposure to interest rate risk. For additional information, see Note 7 (Debt). The Company has interest rate cap agreements that entitle it to payments from the counterparty of the amount, if any, by which the three-month London Interbank Offered Rate (“LIBOR”) exceeds the strike rates of the caps during the agreement period in exchange for an upfront premium. During the six months ended June 30, 2022, the Company did not enter into new interest rate cap agreements. As of June 30, 2022 and December 31, 2021, the Company had interest rate cap agreements with a fair value of $2 million and less than $1 million, respectively, which were classified within Other assets on the Consolidated Balance Sheets. The total notional amount of the interest rate cap agreements was $1.3 billion as of June 30, 2022 and December 31, 2021, which mature on December 31, 2022. The fair values of the Company’s interest rate cap agreements are classified as Level 2 in the fair value hierarchy. The valuation of the interest rate cap agreements is derived by using a discounted cash flow analysis on the expected cash receipts that would occur if variable interest rates rise above the strike rates of the caps. This analysis reflects the contractual terms of the interest rate cap agreements, including the period to maturity, and uses observable market-based inputs, including LIBOR curves and implied volatilities. The Company also incorporates insignificant credit valuation adjustments to appropriately reflect the respective counterparty’s nonperformance risk in the fair value measurements. The counterparty credit spreads are based on publicly available credit information obtained from a third-party credit data provider. The interest rate cap agreements are designated as cash flow hedges. The changes in the fair value of derivatives that qualify as cash flow hedges are recorded in Accumulated other comprehensive loss (“AOCL”) and are subsequently reclassified into Interest expense in the period when the hedged forecasted transaction affects earnings. The following table provides the activity in AOCL, net of tax, for the three and six months ended June 30, 2022 and 2021.
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  | 2022 |  | 2021 |  | 2022 |  | 2021
Change in fair value recorded to AOCL |  | $ | 1.0 |  |  | $ | — |  |  | $ | 1.4 |  |  | $ | — |
Reclassification from AOCL to Interest expense, net |  | $ | 0.8 |  |  | $ | 0.6 |  |  | $ | 1.6 |  |  | $ | 1.0 |
The Company expects to reclassify $3 million from AOCL to earnings within Interest expense, net within the next 12 months.

X
- Definition Financial Instruments [Abstract] + References No definition available. + Details
Name: | cdw_FinancialInstrumentsAbstract
Namespace Prefix: | cdw_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for financial instruments. This disclosure includes, but is not limited to, fair value measurements of short and long term marketable securities, international currencies forward contracts, and auction rate securities. Financial instruments may include hedging and non-hedging currency exchange instruments, derivatives, securitizations and securities available for sale at fair value. Also included are investment results, realized and unrealized gains and losses as well as impairments and risk management disclosures. + References No definition available. + Details
Name: | us-gaap_FinancialInstrumentsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration