XML 92 R21.htm IDEA: XBRL DOCUMENT
v3.23.1

Segment Information (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2023
Segment Reporting [Abstract] |
Summary of Revenue Disaggregated by Reportable Operating Segments | In the following table, revenue is disaggregated by our reportable operating segments, which are primarily defined by their related geographies, as well as by major product offering, by major client group and by recognition on either a gross basis as a principal in the arrangement, or on a net basis as an agent, for the three months ended March 31, 2023 and 2022 (in thousands):
| Three Months Ended March 31, 2023
| North America |  | EMEA |  | APAC |  | Consolidated
Major Offerings |  |  |  |  |  |  |
Hardware | $ | 1,155,639 |  |  | $ | 162,890 |  |  | $ | 10,316 |  |  | $ | 1,328,845 |
Software | 394,797 |  |  | 214,561 |  |  | 29,442 |  |  | 638,800
Services | 283,528 |  |  | 49,553 |  |  | 23,221 |  |  | 356,302
| $ | 1,833,964 |  |  | $ | 427,004 |  |  | $ | 62,979 |  |  | $ | 2,323,947 |
Major Client Groups |  |  |  |  |  |  |
Large Enterprise / Corporate | $ | 1,293,533 |  |  | $ | 309,063 |  |  | $ | 21,402 |  |  | $ | 1,623,998 |
Commercial | 372,025 |  |  | 4,790 |  |  | 17,025 |  |  | 393,840 |
Public Sector | 168,406 |  |  | 113,151 |  |  | 24,552 |  |  | 306,109 |
| $ | 1,833,964 |  |  | $ | 427,004 |  |  | $ | 62,979 |  |  | $ | 2,323,947 |
Revenue Recognition based on acting as Principal or Agent in the Transaction |  |  |  |  |  |  |
Gross revenue recognition (Principal) | $ | 1,725,177 |  |  | $ | 401,343 |  |  | $ | 53,884 |  |  | $ | 2,180,404 |
Net revenue recognition (Agent) | 108,787 |  |  | 25,661 |  |  | 9,095 |  |  | 143,543 |
| $ | 1,833,964 |  |  | $ | 427,004 |  |  | $ | 62,979 |  |  | $ | 2,323,947 |
| Three Months Ended March 31, 2022
| North America |  | EMEA |  | APAC |  | Consolidated
Major Offerings |  |  |  |  |  |  |
Hardware | $ | 1,451,319 |  |  | $ | 210,623 |  |  | $ | 11,646 |  |  | $ | 1,673,588 |
Software | 341,547 |  |  | 272,402 |  |  | 22,750 |  |  | 636,699 |
Services | 271,639 |  |  | 48,408 |  |  | 20,516 |  |  | 340,563 |
| $ | 2,064,505 |  |  | $ | 531,433 |  |  | $ | 54,912 |  |  | $ | 2,650,850 |
Major Client Groups |  |  |  |  |  |  |
Large Enterprise / Corporate | $ | 1,438,729 |  |  | $ | 353,904 |  |  | $ | 21,429 |  |  | $ | 1,814,062 |
Commercial | 441,159 |  |  | 18,421 |  |  | 14,659 |  |  | 474,239 |
Public Sector | 184,617 |  |  | 159,108 |  |  | 18,824 |  |  | 362,549 |
| $ | 2,064,505 |  |  | $ | 531,433 |  |  | $ | 54,912 |  |  | $ | 2,650,850 |
Revenue Recognition based on acting as Principal or Agent in the Transaction |  |  |  |  |  |  |
Gross revenue recognition (Principal) | $ | 1,970,921 |  |  | $ | 506,862 |  |  | $ | 47,018 |  |  | $ | 2,524,801 |
Net revenue recognition (Agent) | 93,584 |  |  | 24,571 |  |  | 7,894 |  |  | 126,049 |
| $ | 2,064,505 |  |  | $ | 531,433 |  |  | $ | 54,912 |  |  | $ | 2,650,850 |
Financial Information about Reportable Operating Segments | The following tables present our results of operations by reportable operating segment for the periods indicated (in thousands):
| Three Months Ended March 31, 2023
| North America |  | EMEA |  | APAC |  | Consolidated
Net sales: |  |  |  |  |  |  |
Products | $ | 1,550,436 |  |  | $ | 377,451 |  |  | $ | 39,758 |  |  | $ | 1,967,645 |
Services | 283,528 |  |  | 49,553 |  |  | 23,221 |  |  | 356,302 |
Total net sales | 1,833,964 |  |  | 427,004 |  |  | 62,979 |  |  | 2,323,947 |
Costs of goods sold: |  |  |  |  |  |  |
Products | 1,387,962 |  |  | 347,633 |  |  | 37,134 |  |  | 1,772,729 |
Services | 130,858 |  |  | 18,483 |  |  | 10,562 |  |  | 159,903 |
Total costs of goods sold | 1,518,820 |  |  | 366,116 |  |  | 47,696 |  |  | 1,932,632 |
Gross profit | 315,144 |  |  | 60,888 |  |  | 15,283 |  |  | 391,315 |
Operating expenses: |  |  |  |  |  |  |
Selling and administrative expenses | 248,820 |  |  | 49,905 |  |  | 11,276 |  |  | 310,001 |
Severance and restructuring expenses | 3,087 |  |  | 702 |  |  | 13 |  |  | 3,802 |
Acquisition and integration related expenses | 51 |  |  | — |  |  | — |  |  | 51 |
Earnings from operations | $ | 63,186 |  |  | $ | 10,281 |  |  | $ | 3,994 |  |  | $ | 77,461 |
| Three Months Ended March 31, 2022
| North America |  | EMEA |  | APAC |  | Consolidated
Net sales: |  |  |  |  |  |  |
Products | $ | 1,792,866 |  |  | $ | 483,025 |  |  | $ | 34,396 |  |  | $ | 2,310,287 |
Services | 271,639 |  |  | 48,408 |  |  | 20,516 |  |  | 340,563 |
Total net sales | 2,064,505 |  |  | 531,433 |  |  | 54,912 |  |  | 2,650,850 |
Costs of goods sold: |  |  |  |  |  |  |
Products | 1,625,775 |  |  | 449,632 |  |  | 31,802 |  |  | 2,107,209 |
Services | 138,646 |  |  | 17,031 |  |  | 9,103 |  |  | 164,780 |
Total costs of goods sold | 1,764,421 |  |  | 466,663 |  |  | 40,905 |  |  | 2,271,989 |
Gross profit | 300,084 |  |  | 64,770 |  |  | 14,007 |  |  | 378,861 |
Operating expenses: |  |  |  |  |  |  |
Selling and administrative expenses | 235,220 |  |  | 52,326 |  |  | 10,094 |  |  | 297,640 |
Severance and restructuring expenses | 304 |  |  | 1,068 |  |  | — |  |  | 1,372 |
Earnings from operations | $ | 64,560 |  |  | $ | 11,376 |  |  | $ | 3,913 |  |  | $ | 79,849 |
Summary of Total Assets by Reportable Operating Segment | The following is a summary of our total assets by reportable operating segment (in thousands):
| March 31, 2023 |  | December 31, 2022
North America | $ | 5,285,303 |  |  | $ | 5,219,480 |
EMEA | 898,680 |  |  | 939,327 |
APAC | 171,296 |  |  | 153,232 |
Corporate assets and intercompany eliminations, net | (1,394,751) |  |  | (1,199,458) |
Total assets | $ | 4,960,528 |  |  | $ | 5,112,581 |
Pre-Tax Depreciation and Amortization by Operating Segment | We recorded the following pre-tax amounts, by reportable operating segment, for depreciation and amortization in the accompanying consolidated financial statements (in thousands):
| Three Months Ended March 31, |  |
| 2023 |  | 2022 |  |  |  |
Depreciation and amortization of property and equipment: |  |  |  |  |  |  |
North America | $ | 5,648 |  |  | $ | 4,420 |  |  |  |  |
EMEA | 596 |  |  | 807 |  |  |  |  |
APAC | 109 |  |  | 162 |  |  |  |  |
| 6,353 |  |  | 5,389 |  |  |  |  |
Amortization of intangible assets: |  |  |  |  |  |  |
North America | 7,785 |  |  | 7,348 |  |  |  |  |
EMEA | 412 |  |  | 457 |  |  |  |  |
APAC | 113 |  |  | 120 |  |  |  |  |
| 8,310 |  |  | 7,925 |  |  |  |  |
Total | $ | 14,663 |  |  | $ | 13,314 |  |  |  |  |

X
- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 5 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130545-203045 + Details
Name: | us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 + Details
Name: | us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of each significant reconciling item, other than profit (loss), revenues, or assets, in the reconciliation of totals of such items in reportable segments to the entity's corresponding consolidated amount. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 + Details
Name: | us-gaap_ReconciliationOfOtherSignificantReconcilingItemsFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration