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Segment Information (Tables)

3 Months Ended

Mar. 31, 2025

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, 2025 and 2024 (in thousands):

			Three Months Ended March 31, 2025
			North America						EMEA						APAC						Consolidated
Major Offerings
Hardware			$	1,006,294					$	128,864					$	6,358					$	1,141,516
Software			396,733						138,296						31,255						566,284
Services			297,616						75,668						22,472						395,756
			$	1,700,643					$	342,828					$	60,085					$	2,103,556
Major Client Groups
Large Enterprise / Corporate			$	1,160,582					$	252,226					$	19,593					$	1,432,401
Commercial			393,213						12,137						18,720						424,070
Public Sector			146,848						78,465						21,772						247,085
			$	1,700,643					$	342,828					$	60,085					$	2,103,556
Revenue Recognition based on acting as Principal or Agent in the Transaction
Gross revenue recognition (Principal)			$	1,573,050					$	307,985					$	52,614					$	1,933,649
Net revenue recognition (Agent)			127,593						34,843						7,471						169,907
			$	1,700,643					$	342,828					$	60,085					$	2,103,556

			Three Months Ended March 31, 2024
			North America						EMEA						APAC						Consolidated
Major Offerings
Hardware			$	991,066					$	136,314					$	7,347					$	1,134,727
Software			595,240						203,252						30,736						829,228
Services			318,516						73,275						23,739						415,530
			$	1,904,822					$	412,841					$	61,822					$	2,379,485
Major Client Groups
Large Enterprise / Corporate			$	1,367,303					$	308,298					$	22,168					$	1,697,769
Commercial			357,289						8,913						15,063						381,265
Public Sector			180,230						95,630						24,591						300,451
			$	1,904,822					$	412,841					$	61,822					$	2,379,485
Revenue Recognition based on acting as Principal or Agent in the Transaction
Gross revenue recognition (Principal)			$	1,762,245					$	381,082					$	52,524					$	2,195,851
Net revenue recognition (Agent)			142,577						31,759						9,298						183,634
			$	1,904,822					$	412,841					$	61,822					$	2,379,485

The method for determining what information regarding operating segments, products and services, geographic areas of operation and major clients to report is based upon the “management approach,” or the way that management organizes the operating segments within a company, for which separate financial information is evaluated regularly by the Chief Operating Decision Maker (“CODM”) in deciding how to allocate resources. Our CODM is our Chief Executive Officer, Joyce Mullen.

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 March 31, 2025
			North America						EMEA						APAC						Consolidated
Net sales:
Hardware			$	1,006,294					$	128,864					$	6,358					$	1,141,516
Software			396,733						138,296						31,255						566,284
Services			297,616						75,668						22,472						395,756
Total net sales			1,700,643						342,828						60,085						2,103,556
Costs of goods sold:
Hardware			876,883						112,040						5,596						994,519
Software			377,432						130,936						28,939						537,307
Services			126,876						27,925						10,452						165,253
Total costs of goods sold			1,381,191						270,901						44,987						1,697,079
Gross profit			319,452						71,927						15,098						406,477
Operating expenses:
Significant selling and administrative expenses			225,592						59,328						10,358						295,278
Stock-based compensation			6,895						1,581						371						8,847
Adjusted earnings from operations			$	86,965					$	11,018					$	4,369					$	102,352

			Three Months Ended March 31, 2024
			North America						EMEA						APAC						Consolidated
Net sales:
Hardware			$	991,066					$	136,314					$	7,347					$	1,134,727
Software			595,240						203,252						30,736						829,228
Services			318,516						73,275						23,739						415,530
Total net sales			1,904,822						412,841						61,822						2,379,485
Costs of goods sold:
Hardware			862,290						118,259						6,360						986,909
Software			564,383						191,813						28,479						784,675
Services			128,306						27,736						10,931						166,973
Total costs of goods sold			1,554,979						337,808						45,770						1,938,557
Gross profit			349,843						75,033						16,052						440,928
Operating expenses:
Significant selling and administrative expenses			240,800						59,551						10,784						311,135
Stock-based compensation			6,259						1,468						316						8,043
Adjusted earnings from operations			$	102,784					$	14,014					$	4,952					$	121,750

Our CODM uses Adjusted earnings from operations when assessing the performance of and deciding how to allocate resources to the operating segments. For example, Adjusted earnings from operations is a basis for executive variable compensation. Significant selling and administrative expenses primarily reflect personnel costs, including teammate benefits. Our CODM uses an Adjusted measure of earnings from operations which excludes amortization of intangible assets, severance and restructuring expenses, acquisition and integration related expenses and certain other expenses. These other expenses include transformation costs, costs associated with third-party data center outages, net of recoveries, revaluation of earnout liabilities and other non-significant expenses. Our CODM uses comparisons of actual Adjusted earnings from operations against budget, forecasts and prior periods as a basis for assessing current period segment performance as well as for determining necessary resources to assign, including for determining necessary investments or reductions in resources.

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, 2025						December 31, 2024
North America			$	6,740,986					$	6,704,511
EMEA			1,911,405						1,484,341
APAC			287,174						190,678
Corporate assets and intercompany eliminations, net			(1,016,992)						(930,952)
Total assets			$	7,922,573					$	7,448,578

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 March 31,
			2025						2024
Depreciation and amortization of property and equipment:
North America			$	6,277					$	6,073
EMEA			857						757
APAC			97						131
			7,231						6,961
Amortization of intangible assets:
North America			16,804						13,146
EMEA			1,744						1,670
APAC			—						109
			18,548						14,925
Total			$	25,779					$	21,886

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