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Segment and Geographic Information | 6 Months Ended
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Jun. 28, 2025
Segment and Geographic Information |
Segment and Geographic Information | Note M – 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 (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 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 global ECS reportable segment is a leading provider of comprehensive computing solutions and value-added services. The global ECS reportable segment brings broad market access, extensive supplier relationships, scale, and value-added solutions to help its VARs and MSPs meet the needs of their end-users through a portfolio of computing solutions including datacenter, cloud, security, and analytics solutions. The CODM evaluates the performance of both reportable segments based on operating income, as well as monitoring sales, gross profit, and operating expenses. This information is used to monitor 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: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Quarter Ended | ​ | Six Months Ended
​ | ​ | June 28, | ​ | June 29, | ​ | June 28, | ​ | June 29,
(thousands) |  | 2025 |  | 2024 |  | 2025 |  | 2024
Sales: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Components: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Americas | ​ | $ | 1,707,522 | ​ | $ | 1,572,840 | ​ | $ | 3,276,092 | ​ | $ | 3,169,532
EMEA | ​ |  | 1,426,944 | ​ |  | 1,439,494 | ​ |  | 2,766,945 | ​ |  | 3,096,001
Asia/Pacific | ​ |  | 2,150,432 | ​ |  | 2,019,697 | ​ |  | 4,019,583 | ​ |  | 3,957,915
Global components | ​ | $ | 5,284,898 | ​ | $ | 5,032,031 | ​ | $ | 10,062,620 | ​ | $ | 10,223,448
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
ECS: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Americas | ​ | $ | 1,052,785 | ​ | $ | 964,070 | ​ | $ | 1,962,688 | ​ | $ | 1,871,818
EMEA | ​ |  | 1,242,264 | ​ |  | 896,767 | ​ |  | 2,368,656 | ​ |  | 1,721,862
Global ECS | ​ | $ | 2,295,049 | ​ | $ | 1,860,837 | ​ | $ | 4,331,344 | ​ | $ | 3,593,680
Consolidated | ​ | $ | 7,579,947 | ​ | $ | 6,892,868 | ​ | $ | 14,393,964 | ​ | $ | 13,817,128
​ Sales by country are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Quarter Ended | ​ | Six Months Ended
​ | ​ | June 28, | ​ | June 29, | ​ | June 28, | ​ | June 29,
(thousands) |  | 2025 |  | 2024 |  | 2025 |  | 2024
Sales: |  | ​ |  |  | ​ |  | ​ | ​ |  |  | ​ |
China and Hong Kong | ​ | $ | 1,090,699 | ​ | $ | 1,030,610 | ​ | $ | 2,016,591 | ​ | $ | 1,994,186
Germany | ​ |  | 793,022 | ​ |  | 766,087 | ​ |  | 1,510,354 | ​ |  | 1,634,515
Other | ​ |  | 3,079,871 | ​ |  | 2,725,415 | ​ |  | 5,939,222 | ​ |  | 5,504,852
Total foreign | ​ | $ | 4,963,592 | ​ | $ | 4,522,112 | ​ | $ | 9,466,167 | ​ | $ | 9,133,553
United States | ​ |  | 2,616,355 | ​ |  | 2,370,756 | ​ |  | 4,927,797 | ​ |  | 4,683,575
Total | ​ | $ | 7,579,947 | ​ | $ | 6,892,868 | ​ | $ | 14,393,964 | ​ | $ | 13,817,128
​ Results of operations by reportable segment are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Quarter Ended
​ | ​ | June 28, 2025
(thousands) | ​ | Global Components | ​ | Global ECS | ​ | Corporate | ​ | Consolidated | ​
Sales | ​ | $ | 5,284,898 | ​ | $ | 2,295,049 | ​ | $ | - | ​ | $ | 7,579,947 | ​
Cost of sales | ​ | ​ | 4,693,444 | ​ | ​ | 2,037,846 | ​ | ​ | - | ​ | ​ | 6,731,290 | ​
Gross profit | ​ | ​ | 591,454 | ​ | ​ | 257,203 | ​ | ​ | - | ​ | ​ | 848,657 | ​
Gross profit margin | ​ | ​ | 11.2 | % | ​ | 11.2 | % | ​ | - | ​ | ​ | 11.2 | %
Operating expenses (a) | ​ | ​ | 404,646 | ​ | ​ | 160,234 | ​ | ​ | 93,191 | ​ | ​ | 658,071 | ​
Operating income (loss) (b) (d) | ​ | $ | 186,808 | ​ | $ | 96,969 | ​ | $ | (93,191) | ​ | $ | 190,586 | ​
Operating income margin | ​ | ​ | 3.5 | % | ​ | 4.2 | % | ​ | - | ​ | ​ | 2.5 | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Quarter Ended
​ | ​ | June 29, 2024
(thousands) | ​ | Global Components | ​ | Global ECS | ​ | Corporate | ​ | Consolidated | ​
Sales | ​ | $ | 5,032,031 | ​ | $ | 1,860,837 | ​ | $ | - | ​ | $ | 6,892,868 | ​
Cost of sales | ​ | ​ | 4,407,171 | ​ | ​ | 1,639,253 | ​ | ​ | - | ​ | ​ | 6,046,424 | ​
Gross profit | ​ | ​ | 624,860 | ​ | ​ | 221,584 | ​ | ​ | - | ​ | ​ | 846,444 | ​
Gross profit margin | ​ | ​ | 12.4 | % | ​ | 11.9 | % | ​ | - | ​ | ​ | 12.3 | %
Operating expenses (a) | ​ | ​ | 414,659 | ​ | ​ | 119,003 | ​ | ​ | 100,507 | ​ | ​ | 634,169 | ​
Operating income (loss) (b) (c) (d) | ​ | $ | 210,201 | ​ | $ | 102,581 | ​ | $ | (100,507) | ​ | $ | 212,275 | ​
Operating income margin | ​ | ​ | 4.2 | % | ​ | 5.5 | % | ​ | - | ​ | ​ | 3.1 | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Six Months Ended
​ | ​ | June 28, 2025
(thousands) | ​ | Global Components | ​ | Global ECS | ​ | Corporate | ​ | Consolidated | ​
Sales | ​ | $ | 10,062,620 | ​ | $ | 4,331,344 | ​ | $ | - | ​ | $ | 14,393,964 | ​
Cost of sales | ​ | ​ | 8,916,221 | ​ | ​ | 3,855,094 | ​ | ​ | - | ​ | ​ | 12,771,315 | ​
Gross profit | ​ | ​ | 1,146,399 | ​ | ​ | 476,250 | ​ | ​ | - | ​ | ​ | 1,622,649 | ​
Gross profit margin | ​ | ​ | 11.4 | % | ​ | 11.0 | % | ​ | - | ​ | ​ | 11.3 | %
Operating expenses (a) | ​ | ​ | 788,206 | ​ | ​ | 301,967 | ​ | ​ | 183,337 | ​ | ​ | 1,273,510 | ​
Operating income (loss) (b) (d) | ​ | $ | 358,193 | ​ | $ | 174,283 | ​ | $ | (183,337) | ​ | $ | 349,139 | ​
Operating income margin | ​ | ​ | 3.6 | % | ​ | 4.0 | % | ​ | - | ​ | ​ | 2.4 | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Six Months Ended
​ | ​ | June 29, 2024
(thousands) | ​ | Global Components | ​ | Global ECS | ​ | Corporate | ​ | Consolidated | ​
Sales | ​ | $ | 10,223,448 | ​ | $ | 3,593,680 | ​ | $ | - | ​ | $ | 13,817,128 | ​
Cost of sales | ​ | ​ | 8,952,874 | ​ | ​ | 3,159,984 | ​ | ​ | - | ​ | ​ | 12,112,858 | ​
Gross profit | ​ | ​ | 1,270,574 | ​ | ​ | 433,696 | ​ | ​ | - | ​ | ​ | 1,704,270 | ​
Gross profit margin | ​ | ​ | 12.4 | % | ​ | 12.1 | % | ​ | - | ​ | ​ | 12.3 | %
Operating expenses (a) | ​ | ​ | 834,811 | ​ | ​ | 259,656 | ​ | ​ | 211,611 | ​ | ​ | 1,306,078 | ​
Operating income (loss) (b) (c) (d) | ​ | $ | 435,763 | ​ | $ | 174,040 | ​ | $ | (211,611) | ​ | $ | 398,192 | ​
Operating income margin | ​ | ​ | 4.3 | % | ​ | 4.8 | % | ​ | - | ​ | ​ | 2.9 | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(a) | Segment operating expenses primarily include employee-related expenses, depreciation and amortization, and allowance for credit losses.
(b) | Global components operating income includes recoveries of $2.2 million and $4.6 million in inventory write-downs related to the wind down of a business for the second quarter and first six months of 2025, respectively, and charges of $1.6 million and $12.1 million in inventory write-downs related to the wind down of a business for the second quarter and first six months of 2024, respectively.
(c) | Global ECS operating income includes a $20.0 million benefit related to the reversal of an allowance for credit losses for the second quarter and first six months of 2024.
(d) | Corporate operating loss includes restructuring, integration, and other charges of $21.9 million and $39.2 million for the second quarter and first six months of 2025, respectively, and $40.5 million and $87.4 million for the second quarter and first six months of 2024, respectively. Refer to Note I.
​ Total assets, by reportable segment, are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 28, | ​ | December 31,
(thousands) |  | 2025 |  | 2024
Total assets: |  | ​ |  |  | ​ |
Global components | ​ | $ | 17,918,136 | ​ | $ | 14,765,931
Global ECS | ​ |  | 5,829,562 | ​ |  | 6,518,723
Corporate | ​ |  | 504,880 | ​ |  | 473,053
Consolidated | ​ | $ | 24,252,578 | ​ | $ | 21,757,707
​ Long-lived assets by country are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 28, | ​ | December 31,
(thousands) |  | 2025 |  | 2024
Long-lived assets: |  | ​ |  |  | ​ |
France | ​ | $ | 98,176 | ​ | $ | 86,268
Netherlands | ​ | ​ | 83,229 | ​ | ​ | 78,120
Germany | ​ | ​ | 73,892 | ​ | ​ | 61,914
Other | ​ |  | 157,640 | ​ |  | 161,989
Total foreign | ​ | $ | 412,937 | ​ | $ | 388,291
United States | ​ |  | 318,244 | ​ |  | 332,098
Total | ​ | $ | 731,181 | ​ | $ | 720,389
​

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- Definition The entire disclosure for reporting segments including data and tables. 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