ARROW ELECTRONICS, INC. 9201 E. DRY CREEK ROAD CENTENNIAL, CO 80112 303-824-4000 NEWS

Exhibit 99.1

Arrow Electronics Reports Second-Quarter 2020 Results

-- Cash Provided by Operating Activities of $418 Million --

-- Announces Additional $600 Million Share Repurchase Program --

CENTENNIAL, Colo.--(BUSINESS WIRE)-July 30, 2020--Arrow Electronics, Inc. (NYSE:ARW) today reported second-quarter 2020 sales of $6.61 billion, a decrease of 10 percent from sales of $7.34 billion in the second quarter of 2019. Second-quarter sales, as adjusted, decreased 8 percent year over year. Second-quarter net income of $133 million, or $1.68 per share on a diluted basis, compared with a net loss of $(549) million, or $(6.48) per share on a diluted basis, in the second quarter of 2019. Excluding certain items¹, net income, as adjusted, was $126 million, or $1.59 per share on a diluted basis, in the second quarter of 2020, compared with net income, as adjusted, of $137 million, or $1.60 per share on a diluted basis, in the second quarter of 2019.

“Arrow has again proven to be a source of reliability and stability for suppliers and customers amidst supply chain disruptions and an uncertain economic backdrop. Our efforts to expand our engineering and design expertise both prior to and during the COVID-19 pandemic are helping customers quickly get back to business,” said Michael J. Long, chairman, president, and chief executive officer. “In turn, our vital position in the technology ecosystem, and our ever-expanding capabilities drove results above our expectations.”

Global components second-quarter sales of $4.72 billion decreased 10 percent year over year. Sales, as adjusted, decreased 8 percent year over year. Asia-Pacific components sales increased 7 percent year over year. Europe components sales decreased 21 percent year over year. Sales in the region, as adjusted, decreased 18 percent year over year. Americas components sales decreased 21 percent year over year. Sales in the region, as adjusted, decreased 18 percent year over year. Global components second-quarter operating income was $182 million. Second-quarter operating income, as adjusted, was $177 million.

“Arrow is harnessing data from billions of transactions with thousands of customers to sell and deliver the products and solutions that our customers want when they need them,” continued Mr. Long. “Sales were above the high end of our expectation driven by Asia that has seen a remarkable rebound in manufacturing activity due to earlier pandemic onset and recovery.”

Global enterprise computing solutions second-quarter sales of $1.89 billion decreased 9 percent year over year. Sales, as adjusted, decreased 8 percent year over year. Europe enterprise computing solutions sales decreased 6 percent year over year. Sales in the region, as adjusted, decreased 4 percent year over year. Americas enterprise computing solutions sales decreased 11 percent year over year. Global enterprise computing solutions second-quarter operating income was $73 million. Second-quarter operating income, as adjusted, was $80 million.

“In terms of product segments, demand remains strong for the software, cloud, and security solutions needed to enable business continuity and remote working,” said Mr. Long. “We continue to evolve our portfolio to areas with greater long-term growth potential.”

“With financial returns improving and the effective management of our balance sheet and cash flow, we enhanced our commitment to returning excess cash to shareholders through a new $600 million repurchase authorization,” said Chris Stansbury, senior vice president and chief financial officer. “Our liquidity position remains the best in our company’s history and improved further, with more than $3.2 billion of undrawn committed borrowing capacity in addition to cash on hand.”

¹ A reconciliation of non-GAAP adjusted financial measures, including sales, gross profit, operating income, net income attributable to shareholders, and net income per share, as adjusted, to GAAP financial measures is presented in the reconciliation tables included herein.

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THIRD-QUARTER 2020 OUTLOOK

•Consolidated sales of $6.325 billion to $6.925 billion, with global components sales of $4.675 billion to $4.975 billion, and global enterprise computing solutions sales of $1.65 billion to $1.95 billion

•Earnings per share on a diluted basis of $1.34 to $1.50, and earnings per share on a diluted basis, excluding certain items¹ of $1.54 to $1.70 per share

•Average tax rate of approximately 24 percent compared to the long-term range of 23 to 25 percent

•Average diluted shares outstanding of 78.5 million

•Interest expense of approximately $33 million

Third-Quarter 2020 Outlook
			Reported GAAP measure			Intangible amortization expense			Restructuring & integration charges			Non-GAAP measure
Net income per diluted share			$1.34 - $1.50			$0.10			$0.10			$1.54 - $1.70

Please refer to the CFO commentary, which can be found at investor.arrow.com, as a supplement to the company’s earnings release.

Arrow Electronics guides innovation forward for over 175,000 leading technology manufacturers and service providers. With 2019 sales of $29 billion, Arrow develops technology solutions that improve business and daily life. Learn more at fiveyearsout.com.

Information Relating to Forward-Looking Statements

This press release includes forward-looking statements that are subject to numerous assumptions, risks, and uncertainties, which could cause actual results or facts to differ materially from such statements for a variety of reasons, including, but not limited to: potential adverse effects of the ongoing global coronavirus pandemic, including actions taken to contain or treat the coronavirus, industry conditions, changes in product supply, pricing and customer demand, competition, other vagaries in the global components and global ECS markets, changes in relationships with key suppliers, increased profit margin pressure, changes in legal and regulatory matters, non-compliance with certain regulations, such as export, anti-trust, and anti-corruption laws, foreign tax and other loss contingencies, and the company's ability to generate cash flow. For a further discussion of these and other factors that could cause the company’s future results to differ materially from any forward-looking statements, see the section entitled “Risk Factors” in the company's Annual Report on Form 10-K for the year ended December 31, 2019 and the risk factor update in Form 10-Q for the quarter ended June 27, 2020. Forward-looking statements are those statements which are not statements of historical fact. These forward-looking statements can be identified by forward-looking words such as “expects,” “anticipates,” “intends,” “plans,” “may,” “will,” “believes,” “seeks,” “estimates,” and similar expressions. Shareholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. The company undertakes no obligation to update publicly or revise any of the forward-looking statements.

Certain Non-GAAP Financial Information

In addition to disclosing financial results that are determined in accordance with accounting principles generally accepted in the United States (“GAAP”), the company also provides certain non-GAAP financial information relating to sales, operating income, net income attributable to shareholders, and net income per basic and diluted share.

The company provides sales, gross profit, and operating expenses as adjusted for the impact of changes in foreign currencies (referred to as "changes in foreign currencies") by re-translating prior period results at current period foreign exchange rates, the impact of dispositions by adjusting the company’s operating results for businesses disposed, as if the dispositions had occurred at the beginning of the earliest period presented (referred to as "dispositions"), the impact of the company’s personal computer and mobility asset disposition business (referred to as "wind down"), the impact of inventory write-downs related to the digital business (referred to as “digital inventory write-downs and recoveries”), and the impact of the notes receivable reserves and inventory write-downs related to the AFS business (referred to as “AFS notes receivable reserves and recoveries” and “AFS inventory write-downs and recoveries,” respectively). Operating income is adjusted to exclude identifiable intangible asset amortization, restructuring, integration, and other charges, loss on disposition of businesses, net, AFS notes receivable reserves and credits and inventory write-downs and recoveries, digital inventory write-downs and recoveries, the impact of non-cash charges related to goodwill, trade names, and long-lived assets, and the impact of wind down. Net income attributable to shareholders, and net income per basic and diluted share are adjusted to exclude identifiable intangible asset amortization, restructuring, integration, and other charges, loss on disposition of businesses, net, AFS notes receivable reserves and credits and inventory write-downs and recoveries, digital inventory write-downs and recoveries, net gains and losses on investments, the impact of non-cash charges related to goodwill, trade

2

names, and long-lived assets, certain tax adjustments, and the impact of wind down. A reconciliation of the company’s non-GAAP financial information to GAAP is set forth in the tables below.

The company believes that such non-GAAP financial information is useful to investors to assist in assessing and understanding the company’s operating performance and underlying trends in the company’s business because management considers these items referred to above to be outside the company’s core operating results. This non-GAAP financial information is among the primary indicators management uses as a basis for evaluating the company’s financial and operating performance. In addition, the company’s Board of Directors may use this non-GAAP financial information in evaluating management performance and setting management compensation.

The presentation of this additional non-GAAP financial information is not meant to be considered in isolation or as a substitute for, or alternative to, sales, operating income, net income and net income per basic and diluted share determined in accordance with GAAP. Analysis of results and outlook on a non-GAAP basis should be used as a complement to, and in conjunction with, data presented in accordance with GAAP.

3

ARROW ELECTRONICS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands except per share data)
(Unaudited)
						Quarter Ended																		Six Months Ended
						June 27, 2020						June 29, 2019						June 27, 2020						June 29, 2019
Sales						$	6,606,494					$	7,344,548					$	12,987,911					$	14,500,539
Cost of sales						5,856,031						6,529,639						11,509,057						12,823,942
Gross profit						750,463						814,909						1,478,854						1,676,597
Operating expenses:
Selling, general, and administrative expenses						501,470						599,212						1,035,309						1,155,288
Depreciation and amortization						46,812						46,982						93,922						94,508
Loss on disposition of businesses, net						—						—						—						866
Impairments						4,918						697,993						4,918						697,993
Restructuring, integration, and other charges						650						19,912						9,788						31,572
						553,850						1,364,099						1,143,937						1,980,227
Operating income (loss)						196,613						(549,190)						334,917						(303,630)
Equity in earnings (losses) of affiliated companies						(283)						382						247						(1,085)
Gain (loss) on investments, net						10,901						1,390						(5,909)						6,738
Employee benefit plan expense						(1,173)						(1,139)						(2,282)						(2,278)
Interest and other financing expense, net						(31,867)						(51,563)						(75,135)						(103,544)
Income (loss) before income taxes						174,191						(600,120)						251,838						(403,799)
Provision (benefit) for income taxes						40,854						(52,369)						68,746						1,538
Consolidated net income (loss)						133,337						(547,751)						183,092						(405,337)
Noncontrolling interests						533						1,215						785						2,894
Net income (loss) attributable to shareholders						$	132,804					$	(548,966)					$	182,307					$	(408,231)
Net income (loss) per share:
Basic						$	1.69					$	(6.48)					$	2.29					$	(4.80)
Diluted						$	1.68					$	(6.48)					$	2.28					$	(4.80)
Weighted-average shares outstanding:
Basic						78,677						84,652						79,527						85,022
Diluted						79,226						84,652						80,113						85,022

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ARROW ELECTRONICS, INC.
CONSOLIDATED BALANCE SHEETS
(In thousands except par value)
(Unaudited)
			June 27, 2020						December 31, 2019
ASSETS
Current assets:
Cash and cash equivalents			$	205,828					$	300,103
Accounts receivable, net			7,954,038						8,482,687
Inventories			3,420,912						3,477,120
Other current assets			213,190						266,249
Total current assets			11,793,968						12,526,159
Property, plant, and equipment, at cost:
Land			7,743						7,793
Buildings and improvements			188,563						173,370
Machinery and equipment			1,501,919						1,481,525
			1,698,225						1,662,688
Less: Accumulated depreciation and amortization			(900,035)						(859,578)
Property, plant, and equipment, net			798,190						803,110
Investments in affiliated companies			80,756						86,942
Intangible assets, net			249,528						271,903
Goodwill			2,052,128						2,061,322
Other assets			629,891						651,360
Total assets			$	15,604,461					$	16,400,796
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable			$	6,967,180					$	7,046,221
Accrued expenses			920,929						880,507
Short-term borrowings, including current portion of long-term debt			244,323						331,431
Total current liabilities			8,132,432						8,258,159
Long-term debt			2,098,369						2,640,129
Other liabilities			623,712						636,115
Commitments and contingencies
Equity:
Shareholders’ equity:
Common stock, par value $1:
Authorized - 160,000 shares in both 2020 and 2019, respectively
Issued - 125,424 shares in both 2020 and 2019, respectively			125,424						125,424
Capital in excess of par value			1,151,895						1,150,006
Treasury stock (47,806 and 44,804 shares in 2020 and 2019, respectively), at cost			(2,542,629)						(2,332,548)
Retained earnings			6,277,620						6,131,248
Accumulated other comprehensive loss			(317,489)						(262,211)
Total shareholders’ equity			4,694,821						4,811,919
Noncontrolling interests			55,127						54,474
Total equity			4,749,948						4,866,393
Total liabilities and equity			$	15,604,461					$	16,400,796

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ARROW ELECTRONICS, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)
			Quarter Ended
			June 27, 2020						June 29, 2019
Cash flows from operating activities:
Consolidated net income (loss)			$	133,337					$	(547,751)
Adjustments to reconcile consolidated net income (loss) to net cash provided by operations:
Depreciation and amortization			46,812						46,982
Amortization of stock-based compensation			8,397						8,539
Equity in (earnings) losses of affiliated companies			283						(382)
Deferred income taxes			13,732						(78,814)
Impairments			4,918						697,993
Gain on investments, net			(10,885)						(1,390)
Other			253						6,381
Change in assets and liabilities, net of effects of acquired and disposed businesses:
Accounts receivable, net			(112,437)						(54,436)
Inventories			(80,465)						143,740
Accounts payable			292,024						193,832
Accrued expenses			102,369						(21,102)
Other assets and liabilities			19,907						11,826
Net cash provided by operating activities			418,245						405,418
Cash flows from investing activities:
Proceeds from disposition of businesses			—						9,460
Acquisition of property, plant, and equipment			(31,571)						(47,821)
Net cash used for investing activities			(31,571)						(38,361)
Cash flows from financing activities:
Change in short-term and other borrowings			77,165						(66,112)
Repayments of long-term bank borrowings, net			(123,113)						(216,046)
Redemption of notes			(209,366)						—
Proceeds from exercise of stock options			1,750						2,691
Repurchases of common stock			(72,750)						(146,999)
Settlement of forward-starting interest rate swap			(48,378)						—
Other			(141)						(147)
Net cash used for financing activities			(374,833)						(426,613)
Effect of exchange rate changes on cash			(7,011)						(22,354)
Net increase (decrease) in cash and cash equivalents			4,830						(81,910)
Cash and cash equivalents at beginning of period			200,998						351,899
Cash and cash equivalents at end of period			$	205,828					$	269,989

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ARROW ELECTRONICS, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)
			Six Months Ended
			June 27, 2020						June 29, 2019
Cash flows from operating activities:
Consolidated net income (loss)			$	183,092					$	(405,337)
Adjustments to reconcile consolidated net income (loss) to net cash provided by operations:
Depreciation and amortization			93,922						94,508
Amortization of stock-based compensation			22,317						27,629
Equity in (earnings) losses of affiliated companies			(247)						1,085
Deferred income taxes			46,345						(71,846)
Impairments			4,918						697,993
(Gain) loss on investments, net			5,925						(6,738)
Other			48						11,956
Change in assets and liabilities, net of effects of acquired and disposed businesses:
Accounts receivable, net			446,168						895,553
Inventories			52,927						278,142
Accounts payable			(51,027)						(1,346,176)
Accrued expenses			71,043						(71,394)
Other assets and liabilities			9,679						(28,956)
Net cash provided by operating activities			885,110						76,419
Cash flows from investing activities:
Proceeds from disposition of businesses			—						9,460
Acquisition of property, plant, and equipment			(59,542)						(81,636)
Other			(5,466)						2,940
Net cash used for investing activities			(65,008)						(69,236)
Cash flows from financing activities:
Change in short-term and other borrowings			(7,189)						(173,356)
Proceeds from (repayments of) long-term bank borrowings, net			(411,690)						118,977
Redemption of notes			(209,366)						—
Proceeds from exercise of stock options			3,730						9,622
Repurchases of common stock			(231,739)						(200,924)
Settlement of forward-starting interest rate swap			(48,378)						—
Other			(141)						(147)
Net cash used for financing activities			(904,773)						(245,828)
Effect of exchange rate changes on cash			(9,604)						(693)
Net decrease in cash and cash equivalents			(94,275)						(239,338)
Cash and cash equivalents at beginning of period			300,103						509,327
Cash and cash equivalents at end of period			$	205,828					$	269,989

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ARROW ELECTRONICS, INC.
NON-GAAP SALES RECONCILIATION
(In thousands)
(Unaudited)
			Quarter Ended
			June 27, 2020						June 29, 2019						% Change
Consolidated sales, as reported			$	6,606,494					$	7,344,548					(10.0)		%
Impact of changes in foreign currencies			—						(65,177)
Impact of wind down			—						(77,914)
Consolidated sales, as adjusted			$	6,606,494					$	7,201,457					(8.3)		%
Global components sales, as reported			$	4,721,255					$	5,270,935					(10.4)		%
Impact of changes in foreign currencies			—						(40,092)
Impact of wind down			—						(77,914)
Global components sales, as adjusted			$	4,721,255					$	5,152,929					(8.4)		%
Americas Components sales, as reported			$	1,488,901					$	1,876,799					(20.7)		%
Impact of changes in foreign currencies			—						(2,372)
Impact of wind down			—						(60,860)
Americas Components sales, as adjusted			$	1,488,901					$	1,813,567					(17.9)		%
Europe components sales, as reported			$	1,118,417					$	1,415,888					(21.0)		%
Impact of changes in foreign currencies			—						(29,548)
Impact of wind down			—						(17,054)
Europe components sales, as adjusted			$	1,118,417					$	1,369,286					(18.3)		%
Asia components sales, as reported			$	2,113,937					$	1,978,248					6.9		%
Impact of changes in foreign currencies			—						(8,172)
Asia components sales, as adjusted			$	2,113,937					$	1,970,076					7.3		%
Global ECS sales, as reported			$	1,885,239					$	2,073,613					(9.1)		%
Impact of changes in foreign currencies			—						(25,085)
Global ECS sales, as adjusted			$	1,885,239					$	2,048,528					(8.0)		%
Europe ECS sales, as reported			$	661,983					$	701,157					(5.6)		%
Impact of changes in foreign currencies			—						(14,983)
Europe ECS sales, as adjusted			$	661,983					$	686,174					(3.5)		%
Americas ECS sales, as reported			$	1,223,256					$	1,372,456					(10.9)		%
Impact of changes in foreign currencies			—						(10,102)
Americas ECS sales, as adjusted			$	1,223,256					$	1,362,354					(10.2)		%

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ARROW ELECTRONICS, INC.
NON-GAAP SALES RECONCILIATION
(In thousands)
(Unaudited)
			Six Months Ended
			June 27, 2020						June 29, 2019						% Change
Consolidated sales, as reported			$	12,987,911					$	14,500,539					(10.4)		%
Impact of changes in foreign currencies			—						(138,687)
Impact of wind down and dispositions			—						(172,109)
Consolidated sales, as adjusted			$	12,987,911					$	14,189,743					(8.5)		%
Global components sales, as reported			$	9,271,856					$	10,462,862					(11.4)		%
Impact of changes in foreign currencies			—						(88,771)
Impact of wind down			—						(160,968)
Global components sales, as adjusted			$	9,271,856					$	10,213,123					(9.2)		%
Americas Components sales, as reported			$	3,041,699					$	3,783,828					(19.6)		%
Impact of changes in foreign currencies			—						(3,760)
Impact of wind down			—						(123,726)
Americas Components sales, as adjusted			$	3,041,699					$	3,656,342					(16.8)		%
Europe components sales, as reported			$	2,428,407					$	2,919,254					(16.8)		%
Impact of changes in foreign currencies			—						(69,049)
Impact of wind down			—						(37,242)
Europe components sales, as adjusted			$	2,428,407					$	2,812,963					(13.7)		%
Asia components sales, as reported			$	3,801,750					$	3,759,780					1.1		%
Impact of changes in foreign currencies			—						(15,962)
Asia components sales, as adjusted			$	3,801,750					$	3,743,818					1.5		%
Global ECS sales, as reported			$	3,716,055					$	4,037,677					(8.0)		%
Impact of changes in foreign currencies			—						(49,916)
Impact of dispositions			—						(11,141)
Global ECS sales, as adjusted			$	3,716,055					$	3,976,620					(6.6)		%
Europe ECS sales, as reported			$	1,364,111					$	1,464,314					(6.8)		%
Impact of changes in foreign currencies			—						(33,663)
Impact of dispositions			—						(11,141)
Europe ECS sales, as adjusted			$	1,364,111					$	1,419,510					(3.9)		%
Americas ECS sales, as reported			$	2,351,944					$	2,573,363					(8.6)		%
Impact of changes in foreign currencies			—						(16,253)
Americas ECS sales, as adjusted			$	2,351,944					$	2,557,110					(8.0)		%

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ARROW ELECTRONICS, INC.
NON-GAAP EARNINGS RECONCILIATION
(In thousands except per share data)
(Unaudited)
Three months ended June 27, 2020
			Reported GAAP measure			Intangible amortization expense			Restructuring & Integration charges			AFS Write Downs			Digital Write Downs			Impairments(1)			Impact of Wind Down						Other(2)			Non-GAAP measure
Sales			$	6,606,494		$	—		$	—		$	—		$	—		$	—		$	—					$	—		$	6,606,494
Gross Profit			750,463			—			—			—			—			—			(10,696)						—			739,767
Operating income			196,613			9,734			650			197			—			4,918			(11,824)						—			200,288
Income before income taxes			174,191			9,734			650			197			—			4,918			(11,814)						(10,901)			166,975
Provision for income taxes			40,854			2,501			313			47			—			1,800			(2,662)						(2,631)			40,222
Consolidated net income			133,337			7,233			337			150			—			3,118			(9,152)						(8,270)			126,753
Noncontrolling interests			533			137			—			—			—			—			—						—			670
Net income attributable to shareholders			$	132,804		$	7,096		$	337		$	150		$	—		$	3,118		$	(9,152)					$	(8,270)		126,083
Net income per diluted share(6)			$	1.68		$	0.09		$	—		$	—		$	—		$	0.04		$	(0.12)					$	(0.10)		$	1.59
Effective tax rate			23.5		%																									24.1		%
Three months ended June 29, 2019
			Reported GAAP measure			Intangible amortization expense(3)			Restructuring & Integration charges(3)			AFS Write Downs			Digital Write Downs			Impairments(4)			Impact of Wind Down(3)						Other(2)			Non-GAAP measure
Sales			$	7,344,548		$	—		$	—		$	—		$	—		$	—		$	(77,914)					$	—		$	7,266,634
Gross Profit			814,909			—			—			1,868			20,114			—			4,305						—			841,196
Operating income (loss)			(549,190)			8,665			19,906			15,851			20,114			623,085			104,219						—			242,650
Income (loss) before income taxes			(600,120)			8,665			19,906			15,851			20,114			623,085			104,229						(1,390)			190,340
Provision for income taxes			(52,369)			2,463			4,865			3,910			4,962			64,246			24,730						(382)			52,425
Consolidated net income (loss)			(547,751)			6,202			15,041			11,941			15,152			558,839			79,499						(1,008)			137,915
Noncontrolling interests			1,215			140			—			—			—			—			—						—			1,355
Net income (loss) attributable to shareholders			$	(548,966)		$	6,062		$	15,041		$	11,941		$	15,152		$	558,839		$	79,499					$	(1,008)		$	136,560
Net income (loss) per diluted share(6)			$	(6.48)		$	0.07		$	0.18		$	0.14		$	0.18		$	6.60		$	0.94					$	(0.01)		$	1.60
Effective tax rate			8.7		%																									27.5		%

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ARROW ELECTRONICS, INC.
NON-GAAP EARNINGS RECONCILIATION
(In thousands except per share data)
(Unaudited)
Six months ended June 27, 2020
			Reported GAAP measure			Intangible amortization expense			Restructuring & Integration charges			AFS Write Downs			Digital Write Downs			Impairments(1)			Impact of Wind Down			Non-recurring tax items			Other(2)			Non-GAAP measure
Sales			$	12,987,911		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	12,987,911
Gross Profit			1,478,854			—			—			—			—			—			(10,696)			—			—			1,468,158
Operating income			334,917			19,689			9,788			(723)			—			4,918			(11,824)			—			—			356,765
Income before income taxes			251,838			19,689			9,788			(723)			—			4,918			(11,814)			—			5,909			279,605
Provision for income taxes			68,746			5,065			2,884			(175)			—			1,800			(2,662)			(3,615)			1,426			73,469
Consolidated net income			183,092			14,624			6,904			(548)			—			3,118			(9,152)			3,615			4,483			206,136
Noncontrolling interests			785			274			—			—			—			—			—			—			—			1,059
Net income attributable to shareholders			$	182,307		$	14,350		$	6,904		$	(548)		$	—		$	3,118		$	(9,152)		$	3,615		$	4,483		$	205,077
Net income per diluted share(6)			$	2.28		$	0.18		$	0.09		$	(0.01)		$	—		$	0.04		$	(0.11)		$	0.05		$	0.06		$	2.56
Effective tax rate			27.3		%																									26.3		%
Six months ended June 29, 2019
			Reported GAAP measure			Intangible amortization expense(3)			Restructuring & Integration charges(3)			AFS Write Downs			Digital Write Downs			Impairments(4)			Impact of Wind Down(3)			Non-recurring tax items			Other(5)			Non-GAAP measure
Sales			$	14,500,539		$	—		$	—		$	—		$	—		$	—		$	(160,968)		$	—		$	—		$	14,339,571
Gross Profit			1,676,597			—			—			1,868			20,114			—			(3,822)			—			—			1,694,757
Operating income (loss)			(303,630)			17,807			30,992			15,851			20,114			623,085			114,415			—			866			519,500
Income (loss) before income taxes			(403,799)			17,807			30,992			15,851			20,114			623,085			114,572			—			(5,872)			412,750
Provision for income taxes			1,538			5,003			7,576			3,910			4,962			64,246			27,258			(3,502)			(1,701)			109,290
Consolidated net income (loss)			(405,337)			12,804			23,416			11,941			15,152			558,839			87,314			3,502			(4,171)			303,460
Noncontrolling interests			2,894			282			—			—			—			—			—			—			—			3,176
Net income (loss) attributable to shareholders			$	(408,231)		$	12,522		$	23,416		$	11,941		$	15,152		$	558,839		$	87,314		$	3,502		$	(4,171)		$	300,284
Net income (loss) per diluted share(6)			$	(4.80)		$	0.15		$	0.28		$	0.14		$	0.18		$	6.57		$	1.03		$	0.04		$	(0.05)		$	3.50
Effective tax rate			(0.4)		%																									26.5		%
(1) Impairments includes $4,918 in impairment charges related to various other long-lived assets unrelated to the personal computer and mobility asset disposition business.
(2) Other includes (gain) loss on investments, net
(3) Amounts for restructuring, integration, and other charges, and identifiable intangible asset amortization related to the personal computer and mobility asset disposition business are included in “impact of wind down” above.
(4) Impairments include goodwill impairments of $570,175, tradename impairments of $46,000, and $6,910 in impairment charges related to various other long-lived assets.
(5) Other includes loss on disposition of businesses, net and gain on investments, net.
(6) For the three months and six months ended June 29, 2019, the non-GAAP net income per diluted share calculation includes 649 thousand shares and 758 thousand shares, respectively, that were excluded from the GAAP net income per diluted share calculation. Additionally, in all periods presented the sum of the components for diluted EPS, as adjusted may not agree to totals, as presented, due to rounding.

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ARROW ELECTRONICS, INC.
SEGMENT INFORMATION
(In thousands)
(Unaudited)
			Quarter Ended																		Six Months Ended
			June 27, 2020						June 29, 2019						June 27, 2020						June 29, 2019
Sales:
Global components			$	4,721,255					$	5,270,935					$	9,271,856					$	10,462,862
Global ECS			1,885,239						2,073,613						3,716,055						4,037,677
Consolidated			$	6,606,494					$	7,344,548					$	12,987,911					$	14,500,539
Operating income (loss):
Global components			$	181,836					$	(566,116)					$	346,603					$	(331,584)
Global ECS (a)			72,921						98,388						115,354						185,106
Corporate (b)			(58,144)						(81,462)						(127,040)						(157,152)
Consolidated			$	196,613					$	(549,190)					$	334,917					$	(303,630)

(a)Includes reserves and other adjustments of approximately $29.9 million primarily related to foreign tax and other loss contingencies for the first six months of 2020. These reserves are principally associated with transactional taxes on activity from several prior years, not significant to any one year.

(b)Includes restructuring, integration, and other charges of $0.7 million and $9.8 million for the second quarter and first six months of 2020, and $19.9 million and $31.6 million for the second quarter and first six months of 2019, respectively.

NON-GAAP SEGMENT RECONCILIATION
			Quarter Ended																		Six Months Ended
			June 27, 2020						June 29, 2019						June 27, 2020						June 29, 2019
Global components operating income (loss), as reported			$	181,836					$	(566,116)					$	346,603					$	(331,584)
Intangible assets amortization expense (c)			7,259						5,807						14,639						12,060
Impairments			—						623,085						—						623,085
Impact of wind-down (c)			(11,824)						104,213						(11,824)						113,835
AFS notes receivable reserve			197						15,851						(723)						15,851
Digital inventory reserve			—						20,114						—						20,114
Global components operating income, as adjusted			$	177,468					$	202,954					$	348,695					$	453,361
Global ECS operating income, as reported			$	72,921					$	98,388					$	115,354					$	185,106
Intangible assets amortization expense			2,475						2,858						5,050						5,747
Impairments			4,918						—						4,918						—
Global ECS operating income, as adjusted			$	80,314					$	101,246					$	125,322					$	190,853

(c)Impact of wind down includes intangible asset amortization expense related to the personal computer and mobility asset disposition business. Impact of wind down excludes restructuring, integration, and other charges as they are reported on the corporate entity.

Contact:   Steven O’Brien,

          Vice President, Investor Relations

          303-824-4544

Media Contact:  John Hourigan,

          Vice President, Global Communications

          303-824-4586

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