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Segment Information (Tables)

9 Months Ended

Sep. 30, 2024

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 and nine months ended September 30, 2024 and 2023 (in thousands):

			Three Months Ended September 30, 2024
			North America						EMEA						APAC						Consolidated
Major Offerings
Hardware			$	1,002,000					$	125,013					$	10,505					$	1,137,518
Software			389,176						124,629						22,456						536,261
Services			325,407						62,964						25,736						414,107
			$	1,716,583					$	312,606					$	58,697					$	2,087,886
Major Client Groups
Large Enterprise / Corporate			$	1,138,827					$	252,445					$	25,102					$	1,416,374
Commercial			360,833						8,332						17,529						386,694
Public Sector			216,923						51,829						16,066						284,818
			$	1,716,583					$	312,606					$	58,697					$	2,087,886
Revenue Recognition based on acting as Principal or Agent in the Transaction
Gross revenue recognition (Principal)			$	1,575,767					$	287,389					$	49,125					$	1,912,281
Net revenue recognition (Agent)			140,816						25,217						9,572						175,605
			$	1,716,583					$	312,606					$	58,697					$	2,087,886

			Three Months Ended September 30, 2023
			North America						EMEA						APAC						Consolidated
Major Offerings
Hardware			$	1,153,722					$	136,567					$	10,866					$	1,301,155
Software			409,139						163,918						15,942						588,999
Services			298,011						53,911						24,210						376,132
			$	1,860,872					$	354,396					$	51,018					$	2,266,286
Major Client Groups
Large Enterprise / Corporate			$	1,311,849					$	270,355					$	21,388					$	1,603,592
Commercial			342,585						4,340						18,867						365,792
Public Sector			206,438						79,701						10,763						296,902
			$	1,860,872					$	354,396					$	51,018					$	2,266,286
Revenue Recognition based on acting as Principal or Agent in the Transaction
Gross revenue recognition (Principal)			$	1,738,705					$	330,505					$	42,908					$	2,112,118
Net revenue recognition (Agent)			122,167						23,891						8,110						154,168
			$	1,860,872					$	354,396					$	51,018					$	2,266,286

			Nine Months Ended September 30, 2024
			North America						EMEA						APAC						Consolidated
Major Offerings
Hardware			$	3,030,589					$	386,401					$	27,896					$	3,444,886
Software			1,349,625						495,063						74,595						1,919,283
Services			973,548						212,856						78,460						1,264,864
			$	5,353,762					$	1,094,320					$	180,951					$	6,629,033
Major Client Groups
Large Enterprise / Corporate			$	3,695,537					$	832,515					$	71,137					$	4,599,189
Commercial			1,078,062						25,033						49,939						1,153,034
Public Sector			580,163						236,772						59,875						876,810
			$	5,353,762					$	1,094,320					$	180,951					$	6,629,033
Revenue Recognition based on acting as Principal or Agent in the Transaction
Gross revenue recognition (Principal)			$	4,924,449					$	997,597					$	149,950					$	6,071,996
Net revenue recognition (Agent)			429,313						96,723						31,001						557,037
			$	5,353,762					$	1,094,320					$	180,951					$	6,629,033

			Nine Months Ended September 30, 2023
			North America						EMEA						APAC						Consolidated
Major Offerings
Hardware			$	3,474,488					$	431,677					$	34,108					$	3,940,273
Software			1,221,263						574,539						67,333						1,863,135
Services			896,251						166,910						73,260						1,136,421
			$	5,592,002					$	1,173,126					$	174,701					$	6,939,829
Major Client Groups
Large Enterprise / Corporate			$	3,927,258					$	868,937					$	69,639					$	4,865,834
Commercial			1,074,360						12,739						54,030						1,141,129
Public Sector			590,384						291,450						51,032						932,866
			$	5,592,002					$	1,173,126					$	174,701					$	6,939,829
Revenue Recognition based on acting as Principal or Agent in the Transaction
Gross revenue recognition (Principal)			$	5,231,815					$	1,083,933					$	147,422					$	6,463,170
Net revenue recognition (Agent)			360,187						89,193						27,279						476,659
			$	5,592,002					$	1,173,126					$	174,701					$	6,939,829

Summary of 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 September 30, 2024
			North America						EMEA						APAC						Consolidated
Net sales:
Products			$	1,391,176					$	249,642					$	32,961					$	1,673,779
Services			325,407						62,964						25,736						414,107
Total net sales			1,716,583						312,606						58,697						2,087,886
Costs of goods sold:
Products			1,237,012						219,573						29,686						1,486,271
Services			131,514						26,652						11,364						169,530
Total costs of goods sold			1,368,526						246,225						41,050						1,655,801
Gross profit			348,057						66,381						17,647						432,085
Operating expenses:
Selling and administrative expenses			259,954						57,808						12,234						329,996
Severance and restructuring expenses			7,242						1,240						61						8,543
Acquisition and integration related expenses			25						668						2						695
Earnings from operations			$	80,836					$	6,665					$	5,350					$	92,851

			Three Months Ended September 30, 2023
			North America						EMEA						APAC						Consolidated
Net sales:
Products			$	1,562,861					$	300,485					$	26,808					$	1,890,154
Services			298,011						53,911						24,210						376,132
Total net sales			1,860,872						354,396						51,018						2,266,286
Costs of goods sold:
Products			1,401,472						272,083						23,988						1,697,543
Services			125,543						22,604						11,726						159,873
Total costs of goods sold			1,527,015						294,687						35,714						1,857,416
Gross profit			333,857						59,709						15,304						408,870
Operating expenses:
Selling and administrative expenses			244,154						54,435						11,204						309,793
Severance and restructuring expenses, net			2,650						271						2						2,923
Acquisition and integration related expenses			970						3,322						—						4,292
Earnings from operations			$	86,083					$	1,681					$	4,098					$	91,862

			Nine Months Ended September 30, 2024
			North America						EMEA						APAC						Consolidated
Net sales:
Products			$	4,380,214					$	881,464					$	102,491					$	5,364,169
Services			973,548						212,856						78,460						1,264,864
Total net sales			5,353,762						1,094,320						180,951						6,629,033
Costs of goods sold:
Products			3,909,271						791,907						92,947						4,794,125
Services			392,484						81,857						34,189						508,530
Total costs of goods sold			4,301,755						873,764						127,136						5,302,655
Gross profit			1,052,007						220,556						53,815						1,326,378
Operating expenses:
Selling and administrative expenses			771,066						178,377						35,221						984,664
Severance and restructuring expenses			12,783						2,639						216						15,638
Acquisition and integration related expenses			1,486						678						2						2,166
Earnings from operations			$	266,672					$	38,862					$	18,376					$	323,910

			Nine Months Ended September 30, 2023
			North America						EMEA						APAC						Consolidated
Net sales:
Products			$	4,695,751					$	1,006,216					$	101,441					$	5,803,408
Services			896,251						166,910						73,260						1,136,421
Total net sales			5,592,002						1,173,126						174,701						6,939,829
Costs of goods sold:
Products			4,206,071						920,956						92,693						5,219,720
Services			393,788						59,526						33,420						486,734
Total costs of goods sold			4,599,859						980,482						126,113						5,706,454
Gross profit			992,143						192,644						48,588						1,233,375
Operating expenses:
Selling and administrative expenses			745,259						159,253						33,525						938,037
Severance and restructuring expenses, net			1,052						1,840						63						2,955
Acquisition and integration related expenses			1,127						3,322						—						4,449
Earnings from operations			$	244,705					$	28,229					$	15,000					$	287,934

Summary of Total Assets by Reportable Operating Segment

The following is a summary of our total assets by reportable operating segment (in thousands):

			September 30, 2024						December 31, 2023
North America			$	6,500,158					$	6,521,591
EMEA			1,358,765						1,058,734
APAC			186,013						171,820
Corporate assets and intercompany eliminations, net			(758,493)						(1,465,795)
Total assets			$	7,286,443					$	6,286,350

Summary of 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 September 30,												Nine Months Ended September 30,
			2024						2023						2024						2023
Depreciation and amortization of property and equipment:
North America			$	6,160					$	6,064					$	18,403					$	17,207
EMEA			917						726						2,574						1,925
APAC			127						112						396						323
			7,204						6,902						21,373						19,455
Amortization of intangible assets:
North America			16,823						7,718						45,557						23,269
EMEA			1,805						822						5,135						1,642
APAC			74						108						292						332
			18,702						8,648						50,984						25,243
Total			$	25,906					$	15,550					$	72,357					$	44,698

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