XML 53 R40.htm IDEA: XBRL DOCUMENT
v3.19.1

SEGMENT REPORTING (Tables) | 12 Months Ended
--- | ---
Mar. 31, 2019
SEGMENT REPORTING [Abstract] |
Segment Reporting Information, by Reportable Segment | Our reportable segment information was as follows (in thousands):
|  | Fiscal Year Ended |
|  | March 31, 2019 |  |  | March 31, 2018 |  |  | March 31, 2017 |
|  | Technology |  |  | Financing |  |  | Total |  |  | Technology |  |  | Financing |  |  | Total |  |  | Technology |  |  | Financing |  |  | Total |
Sales |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Product |  | $ | 1,180,042 |  |  | $ | 43,153 |  |  | $ | 1,223,195 |  |  | $ | 1,243,270 |  |  | $ | 46,037 |  |  | $ | 1,289,307 |  |  | $ | 1,197,503 |  |  | $ | 36,841 |  |  | $ | 1,234,344 |
Service |  |  | 149,478 |  |  |  | - |  |  |  | 149,478 |  |  |  | 129,495 |  |  |  | - |  |  |  | 129,495 |  |  |  | 97,434 |  |  |  | - |  |  |  | 97,434 |
Net sales |  |  | 1,329,520 |  |  |  | 43,153 |  |  |  | 1,372,673 |  |  |  | 1,372,765 |  |  |  | 46,037 |  |  |  | 1,418,802 |  |  |  | 1,294,937 |  |  |  | 36,841 |  |  | $ | 1,331,778 |
Cost of Sales |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Product |  |  | 945,037 |  |  |  | 7,427 |  |  |  | 952,464 |  |  |  | 1,013,748 |  |  |  | 9,842 |  |  |  | 1,023,590 |  |  |  | 971,648 |  |  |  | 6,831 |  |  |  | 978,479 |
Service |  |  | 89,821 |  |  |  | - |  |  |  | 89,821 |  |  |  | 71,730 |  |  |  | - |  |  |  | 71,730 |  |  |  | 53,540 |  |  |  | - |  |  |  | 53,540 |
Cost of sales |  |  | 1,034,858 |  |  |  | 7,427 |  |  |  | 1,042,285 |  |  |  | 1,085,478 |  |  |  | 9,842 |  |  |  | 1,095,320 |  |  |  | 1,025,188 |  |  |  | 6,831 |  |  |  | 1,032,019 |
Gross Profit |  |  | 294,662 |  |  |  | 35,726 |  |  |  | 330,388 |  |  |  | 287,288 |  |  |  | 36,195 |  |  |  | 323,482 |  |  |  | 269,749 |  |  |  | 30,010 |  |  |  | 299,759 |
Selling, general, and administrative |  |  | 226,112 |  |  |  | 10,970 |  |  |  | 237,082 |  |  |  | 214,980 |  |  |  | 13,147 |  |  |  | 228,127 |  |  |  | 193,594 |  |  |  | 11,638 |  |  |  | 205,232 |
Depreciation and amortization |  |  | 11,812 |  |  |  | 12 |  |  |  | 11,824 |  |  |  | 9,918 |  |  |  | 3 |  |  |  | 9,921 |  |  |  | 7,243 |  |  |  | 9 |  |  |  | 7,252 |
Interest and financing costs |  |  | - |  |  |  | 1,948 |  |  |  | 1,948 |  |  |  | - |  |  |  | 1,195 |  |  |  | 1,195 |  |  |  | - |  |  |  | 1,543 |  |  |  | 1,543 |
Operating expenses |  |  | 237,924 |  |  |  | 12,930 |  |  |  | 250,854 |  |  |  | 224,898 |  |  |  | 14,345 |  |  |  | 239,243 |  |  |  | 200,837 |  |  |  | 13,190 |  |  |  | 214,027 |
Operating income |  |  | 56,738 |  |  |  | 22,796 |  |  |  | 79,534 |  |  |  | 62,389 |  |  |  | 21,850 |  |  |  | 84,239 |  |  |  | 68,912 |  |  |  | 16,820 |  |  |  | 85,732 |
Other income (expense) |  |  |  |  |  |  |  |  |  |  | 6,696 |  |  |  |  |  |  |  |  |  |  |  | (348 | ) |  |  |  |  |  |  |  |  |  |  | 380 |
Earnings before tax |  |  |  |  |  |  |  |  |  | $ | 86,230 |  |  |  |  |  |  |  |  |  |  | $ | 83,891 |  |  |  |  |  |  |  |  |  |  | $ | 86,112 |
Net Sales |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Contracts with customers |  | $ | 1,308,405 |  |  | $ | 3,577 |  |  | $ | 1,311,982 |  |  | $ | 1,356,225 |  |  | $ | 13,732 |  |  | $ | 1,369,957 |  |  | $ | 1,261,078 |  |  | $ | 7,355 |  |  | $ | 1,268,433 |
Financing and other |  |  | 21,115 |  |  |  | 39,576 |  |  |  | 60,691 |  |  |  | 16,540 |  |  |  | 32,305 |  |  |  | 48,845 |  |  |  | 33,859 |  |  |  | 29,486 |  |  |  | 63,345 |
Net sales |  | $ | 1,329,520 |  |  | $ | 43,153 |  |  | $ | 1,372,673 |  |  | $ | 1,372,765 |  |  | $ | 46,037 |  |  | $ | 1,418,802 |  |  | $ | 1,294,937 |  |  | $ | 36,841 |  |  | $ | 1,331,778 |
Selected Financial Data - Statement of Cash Flow |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  | $ | 12,661 |  |  | $ | 5,978 |  |  | $ | 18,639 |  |  | $ | 10,461 |  |  | $ | 5,366 |  |  | $ | 15,827 |  |  | $ | 7,365 |  |  | $ | 4,366 |  |  | $ | 11,731 |
Purchases of property, equipment and operating lease equipment |  | $ | 6,042 |  |  | $ | 5,587 |  |  | $ | 11,629 |  |  | $ | 5,353 |  |  | $ | 2,237 |  |  | $ | 7,590 |  |  | $ | 3,356 |  |  | $ | 6,202 |  |  | $ | 9,558 |
Selected Financial Data - Balance Sheet |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total assets |  | $ | 607,998 |  |  | $ | 178,200 |  |  | $ | 786,198 |  |  | $ | 537,776 |  |  | $ | 217,695 |  |  | $ | 755,471 |  |  | $ | 533,560 |  |  | $ | 208,160 |  |  | $ | 741,720 |
Geographical Information | The geographic information for the years ended March 31, 2019, 2018 and 2017 was as follows (in thousands):
|  | Year Ended March 31, |
|  | 2019 |  |  | 2018 |  |  | 2017 |
Net sales: |  |  |  |  |  |  |  |  |
U.S. |  | $ | 1,284,482 |  |  | $ | 1,349,254 |  |  | $ | 1,296,094 |
Non U.S. |  |  | 88,191 |  |  |  | 69,548 |  |  |  | 35,684 |
Total |  | $ | 1,372,673 |  |  | $ | 1,418,802 |  |  | $ | 1,331,778 |
|  | As of March 31, |
|  | 2019 |  |  | 2018 |
Long-lived tangible assets: |  |  |  |  |  |
U.S. |  | $ | 32,570 |  |  | $ | 24,445 |
Non U.S. |  |  | 1,156 |  |  |  | 494 |
Total |  | $ | 33,726 |  |  | $ | 24,939 |
Technology Segment Disaggregation of Revenue | We analyze net sales for our technology segment by customer end market and by vendor, as opposed to discrete product and service categories, which are summarized below (in thousands):
|  | Fiscal Year Ended March 31, |
|  | 2019 |  |  | 2018 |  |  | 2017 |
Customer end market: |  |  |  |  |  |  |  |  |
Technology |  | $ | 293,362 |  |  | $ | 330,241 |  |  | $ | 302,097 |
Telecom, Media & Entertainment |  |  | 175,260 |  |  |  | 194,292 |  |  |  | 195,237 |
Financial Services |  |  | 202,074 |  |  |  | 201,712 |  |  |  | 166,179 |
SLED |  |  | 223,330 |  |  |  | 234,141 |  |  |  | 266,070 |
Healthcare |  |  | 193,754 |  |  |  | 189,889 |  |  |  | 143,154 |
All others |  |  | 241,740 |  |  |  | 222,490 |  |  |  | 220,200 |
Net sales |  |  | 1,329,520 |  |  |  | 1,372,765 |  |  |  | 1,294,937 |
Financing and other |  |  | (21,115 | ) |  |  | (16,540 | ) |  |  | (33,859 | )
Revenue from contracts with customers |  | $ | 1,308,405 |  |  | $ | 1,356,225 |  |  | $ | 1,261,078 |
|  | Fiscal Year Ended March 31, |
|  | 2019 |  |  | 2018 |  |  | 2017 |
Vendor |  |  |  |  |  |  |  |  |
Cisco Systems |  | $ | 556,182 |  |  | $ | 582,419 |  |  | $ | 604,111 |
NetApp |  |  | 48,858 |  |  |  | 54,821 |  |  |  | 69,096 |
HP Inc. & HPE |  |  | 74,348 |  |  |  | 86,675 |  |  |  | 77,977 |
Dell / EMC |  |  | 61,284 |  |  |  | 54,294 |  |  |  | 56,124 |
Arista Networks |  |  | 57,850 |  |  |  | 52,521 |  |  |  | 13,757 |
Juniper |  |  | 48,943 |  |  |  | 44,623 |  |  |  | 67,924 |
All others |  |  | 482,055 |  |  |  | 497,412 |  |  |  | 405,948 |
Net sales |  |  | 1,329,520 |  |  |  | 1,372,765 |  |  |  | 1,294,937 |
Financing and other |  |  | (21,115 | ) |  |  | (16,540 | ) |  |  | (33,859 | )
Revenue from contracts with customers |  | $ | 1,308,405 |  |  | $ | 1,356,225 |  |  | $ | 1,261,078 |

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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=109196051&loc=SL49130545-203045 + Details
Name: | us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e9038-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1) -URI http://asc.fasb.org/extlink&oid=115205541&loc=SL114868664-224227 + Details
Name: | us-gaap_ScheduleOfRevenuesFromExternalCustomersAndLongLivedAssetsByGeographicalAreasTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum: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 http://asc.fasb.org/extlink&oid=115929826&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 http://asc.fasb.org/extlink&oid=115929826&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 http://asc.fasb.org/extlink&oid=108376223&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 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8721-108599 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8906-108599 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum: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