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Segment and Geographic Information | 12 Months Ended
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Dec. 31, 2024
Segment and Geographic Information |
Segment and Geographic Information | 16. Segment and Geographic Information The company is a global provider of products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions. The company organizes its operations by geographic region and global business lines. The company’s operating segments reflect the way the chief executive officer, who is the CODM as defined in ASC 280, Segment Reporting, reviews financial information, makes operating decisions and assesses business performance. In identifying operating segments, the company also considers its annual budgeting and forecasting process, management reporting structure, the basis on which management compensation is determined, information presented to the Board of Directors and similarities such as the nature of products, the level of shared products, technology and other resources, and customer base. The company concluded that identifying operating segments by major geographic region within each of the company’s major businesses was consistent with the objectives of ASC 280 and it has aggregated geographic operating segments within the global components reportable segment and the global ECS reportable segment based on similar characteristics including long-term financial performance, the nature of services provided, internal process for delivering those services, and types of customers. ​ The company’s global components reportable segment is enabled by a comprehensive range of value-added capabilities and services, markets, and distributes electronic components to OEMs and EMS providers. The company’s global ECS reportable segment is a leading value-added provider of comprehensive computing solutions and services. The global ECS portfolio of computing solutions includes datacenter, cloud, security, and analytics solutions. Global ECS brings broad market access, extensive supplier relationships, scale, and resources to help its VARs and MSPs meet the needs of their end-users. ​ The CODM evaluates the performance of both reportable segments based on operating income. Sales, net gross profit, and operating expenses are also monitored closely. This information is used to monitor operating margins, measure segment profitability, allocate resources, and make budgeting and forecasting decisions about the reportable segments. The CODM also uses these measures to monitor trends in year over year performance comparisons, sequential quarter performance comparisons, and to compare actual results to forecasts. More disaggregated information about operating expense is generally only reviewed by the CODM on a consolidated basis. ​ As a result of the company’s philosophy of maximizing operating efficiencies through the centralization of certain functions, operating income for the reportable segments excludes unallocated corporate overhead costs, depreciation on corporate fixed assets, and restructuring, integration, and other costs, as they are not attributable to the individual reportable segments and are included in the corporate line item. ​ ​ ​ ​ ​ ​ ​ Sales, by reportable segment by geographic area, are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(thousands) |  | 2024 |  | 2023 |  | 2022
Sales: |  | ​ |  |  | ​ |  |  | ​ |
Components: |  | ​ |  |  | ​ |  |  | ​ |
Americas | ​ | $ | 6,411,701 | ​ | $ | 7,954,713 | ​ | $ | 9,592,547
EMEA | ​ |  | 5,648,107 | ​ |  | 8,074,894 | ​ | ​ | 7,627,974
Asia/Pacific | ​ |  | 7,923,459 | ​ |  | 9,390,292 | ​ | ​ | 11,567,482
Global components | ​ | $ | 19,983,267 | ​ | $ | 25,419,899 | ​ | $ | 28,788,003
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
ECS: | ​ |  |  | ​ |  |  | ​ | ​ |
Americas | ​ | $ | 4,067,160 | ​ | $ | 4,160,298 | ​ | $ | 4,847,027
EMEA | ​ |  | 3,872,897 | ​ |  | 3,526,923 | ​ | ​ | 3,489,392
Global ECS | ​ | $ | 7,940,057 | ​ | $ | 7,687,221 | ​ | $ | 8,336,419
Consolidated | ​ | $ | 27,923,324 | ​ | $ | 33,107,120 | ​ | $ | 37,124,422
​ Sales by country are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(thousands) |  | 2024 |  | 2023 |  | 2022
Sales: |  | ​ |  |  | ​ |  |  | ​ |
China and Hong Kong | ​ | $ | 4,033,744 | ​ | $ | 4,858,871 | ​ | $ | 6,339,883
Germany | ​ |  | 3,007,517 | ​ |  | 4,341,837 | ​ |  | 4,715,806
Other | ​ |  | 11,114,613 | ​ |  | 12,737,852 | ​ |  | 12,901,063
Total foreign | ​ | $ | 18,155,874 | ​ | $ | 21,938,560 | ​ | $ | 23,956,752
United States | ​ |  | 9,767,450 | ​ |  | 11,168,560 | ​ |  | 13,167,670
Total | ​ | $ | 27,923,324 | ​ | $ | 33,107,120 | ​ | $ | 37,124,422
​ The company operates in more than 85 countries worldwide. Sales to unaffiliated customers are based on the company location that maintains the customer relationship and transacts the external sale. ​ Results of operations by reportable segment are as follows for the years ended December 31:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2024 | ​
(thousands) | ​ | Global Components | ​ | Global ECS | ​ | Corporate | ​ | Consolidated | ​
Sales | ​ | $ | 19,983,267 | ​ | $ | 7,940,057 | ​ | $ | - | ​ | $ | 27,923,324 | ​
Cost of sales | ​ | ​ | 17,650,909 | ​ | ​ | 6,980,007 | ​ | ​ | - | ​ | ​ | 24,630,916 | ​
Gross profit | ​ | ​ | 2,332,358 | ​ | ​ | 960,050 | ​ | ​ | - | ​ | ​ | 3,292,408 | ​
Gross profit margin | ​ | ​ | 11.7 | % | ​ | 12.1 | % | ​ | - | ​ | ​ | 11.8 | %
Operating expenses (a) | ​ | ​ | 1,591,085 | ​ | ​ | 549,975 | ​ | ​ | 382,791 | ​ | ​ | 2,523,851 | ​
Operating income (loss) (b) (c) (d) | ​ | $ | 741,273 | ​ | $ | 410,075 | ​ | $ | (382,791) | ​ | $ | 768,557 | ​
Operating income margin | ​ | ​ | 3.7 | % | ​ | 5.2 | % | ​ | - | ​ | ​ | 2.8 | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2023 | ​
(thousands) | ​ | Global Components | ​ | Global ECS | ​ | Corporate | ​ | Consolidated | ​
Sales | ​ | $ | 25,419,899 | ​ | $ | 7,687,221 | ​ | $ | - | ​ | $ | 33,107,120 | ​
Cost of sales | ​ | ​ | 22,220,779 | ​ | ​ | 6,737,323 | ​ | ​ | - | ​ | ​ | 28,958,102 | ​
Gross profit | ​ | ​ | 3,199,120 | ​ | ​ | 949,898 | ​ | ​ | - | ​ | ​ | 4,149,018 | ​
Gross profit margin | ​ | ​ | 12.6 | % | ​ | 12.4 | % | ​ | - | ​ | ​ | 12.5 | %
Operating expenses (a) | ​ | ​ | 1,739,954 | ​ | ​ | 582,894 | ​ | ​ | 355,006 | ​ | ​ | 2,677,854 | ​
Operating income (loss) (b) (c) (d) | ​ | $ | 1,459,166 | ​ | $ | 367,004 | ​ | $ | (355,006) | ​ | $ | 1,471,164 | ​
Operating income margin | ​ | ​ | 5.7 | % | ​ | 4.8 | % | ​ | - | ​ | ​ | 4.4 | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2022 | ​
(thousands) | ​ | Global Components | ​ | Global ECS | ​ | Corporate | ​ | Consolidated | ​
Sales | ​ | $ | 28,788,003 | ​ | $ | 8,336,419 | ​ | $ | - | ​ | $ | 37,124,422 | ​
Cost of sales | ​ | ​ | 24,883,076 | ​ | ​ | 7,404,721 | ​ | ​ | - | ​ | ​ | 32,287,797 | ​
Gross profit | ​ | ​ | 3,904,927 | ​ | ​ | 931,698 | ​ | ​ | - | ​ | ​ | 4,836,625 | ​
Gross profit margin | ​ | ​ | 13.6 | % | ​ | 11.2 | % | ​ | - | ​ | ​ | 13.0 | %
Operating expenses (a) | ​ | ​ | 1,943,802 | ​ | ​ | 523,179 | ​ | ​ | 301,150 | ​ | ​ | 2,768,131 | ​
Operating income (loss) (d) | ​ | $ | 1,961,125 | ​ | $ | 408,519 | ​ | $ | (301,150) | ​ | $ | 2,068,494 | ​
Operating income margin | ​ | ​ | 6.8 | % | ​ | 4.9 | % | ​ | - | ​ | ​ | 5.6 | %
​
(a) | Segment operating expenses include employee related expenses, depreciation and amortization, allowance for credit losses, and other segment expenses.
(b) | Global components operating income includes charges of $60.6 million in inventory write downs related to the wind down of businesses in 2024. Global components operating income includes $62.2 million in settlement benefits recorded as a reduction to operating expense for 2023. Refer to Note 15.
(c) | In 2023, global ECS operating income includes charges of $25.4 million to increase the allowance for credit losses related to one customer. During 2024, global ECS operating income includes a reversal of charges of $20.0 million for aged receivables that were collected, related to the same customer.
(d) | Corporate operating loss for the years 2024, 2023, and 2022 includes restructuring, integration, and other charges of $142.9 million, $83.9 million, and $13.7 million, respectively. Refer to Note 9.
​ Total assets, by reportable segment, at December 31 are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
(thousands) |  | 2024 |  | 2023
Total assets: |  | ​ |  |  | ​ |
Global components | ​ | $ | 14,765,931 | ​ | $ | 15,129,190
Global ECS | ​ |  | 6,518,723 | ​ |  | 6,051,459
Corporate | ​ |  | 473,053 | ​ |  | 545,519
Consolidated | ​ | $ | 21,757,707 | ​ | $ | 21,726,168
​ Long-lived assets by country are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
(thousands) |  | 2024 |  | 2023
Long-lived assets: |  | ​ |  |  | ​ |
Netherlands | ​ | $ | 78,120 | ​ | $ | 89,199
France | ​ | ​ | 86,268 | ​ | ​ | 87,861
Other | ​ |  | 223,903 | ​ |  | 258,264
Total foreign | ​ | $ | 388,291 | ​ | $ | 435,324
United States | ​ |  | 332,098 | ​ |  | 364,940
Total | ​ | $ | 720,389 | ​ | $ | 800,264
​

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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