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v3.23.1

SEGMENT REPORTING (Tables) | 12 Months Ended
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Mar. 31, 2023
SEGMENT REPORTING [Abstract] |
Segment Reporting Information, by Reportable Segment | Our reportable segment information was as follows (in thousands):
|  | Year Ended March 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
|  | Technology |  |  | Financing |  |  | Total |  |  | Technology |  |  | Financing |  |  | Total |  |  | Technology |  |  | Financing |  |  | Total |
Net Sales |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Product |  | $ | 1,750,802 |  |  | $ | 52,473 |  |  | $ | 1,803,275 |  |  | $ | 1,492,411 |  |  | $ | 87,983 |  |  | $ | 1,580,394 |  |  | $ | 1,305,789 |  |  | $ | 60,369 |  |  | $ | 1,366,158 |
Service |  |  | 264,443 |  |  |  | - |  |  |  | 264,443 |  |  |  | 240,625 |  |  |  | - |  |  |  | 240,625 |  |  |  | 202,165 |  |  |  | - |  |  |  | 202,165 |
Total |  |  | 2,015,245 |  |  |  | 52,473 |  |  |  | 2,067,718 |  |  |  | 1,733,036 |  |  |  | 87,983 |  |  |  | 1,821,019 |  |  |  | 1,507,954 |  |  |  | 60,369 |  |  |  | 1,568,323 |
Cost of Sales |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Product |  |  | 1,370,061 |  |  |  | 9,439 |  |  |  | 1,379,500 |  |  |  | 1,175,789 |  |  |  | 35,154 |  |  |  | 1,210,943 |  |  |  | 1,036,627 |  |  |  | 13,050 |  |  |  | 1,049,677 |
Service |  |  | 170,694 |  |  |  | - |  |  |  | 170,694 |  |  |  | 149,094 |  |  |  | - |  |  |  | 149,094 |  |  |  | 125,092 |  |  |  | - |  |  |  | 125,092 |
Total |  |  | 1,540,755 |  |  |  | 9,439 |  |  |  | 1,550,194 |  |  |  | 1,324,883 |  |  |  | 35,154 |  |  |  | 1,360,037 |  |  |  | 1,161,719 |  |  |  | 13,050 |  |  |  | 1,174,769 |
Gross Profit |  |  | 474,490 |  |  |  | 43,034 |  |  |  | 517,524 |  |  |  | 408,153 |  |  |  | 52,829 |  |  |  | 460,982 |  |  |  | 346,235 |  |  |  | 47,319 |  |  |  | 393,554 |
Selling, general, and administrative |  |  | 317,885 |  |  |  | 15,635 |  |  |  | 333,520 |  |  |  | 283,690 |  |  |  | 13,427 |  |  |  | 297,117 |  |  |  | 256,210 |  |  |  | 15,053 |  |  |  | 271,263 |
Depreciation and amortization |  |  | 13,598 |  |  |  | 111 |  |  |  | 13,709 |  |  |  | 14,535 |  |  |  | 111 |  |  |  | 14,646 |  |  |  | 13,839 |  |  |  | 112 |  |  |  | 13,951 |
Interest and financing costs |  |  | 2,897 |  |  |  | 1,236 |  |  |  | 4,133 |  |  |  | 928 |  |  |  | 975 |  |  |  | 1,903 |  |  |  | 521 |  |  |  | 1,484 |  |  |  | 2,005 |
Operating expenses |  |  | 334,380 |  |  |  | 16,982 |  |  |  | 351,362 |  |  |  | 299,153 |  |  |  | 14,513 |  |  |  | 313,666 |  |  |  | 270,570 |  |  |  | 16,649 |  |  |  | 287,219 |
Operating income |  |  | 140,110 |  |  |  | 26,052 |  |  |  | 166,162 |  |  |  | 109,000 |  |  |  | 38,316 |  |  |  | 147,316 |  |  |  | 75,665 |  |  |  | 30,670 |  |  |  | 106,335 |
Other income (expense), net |  |  |  |  |  |  |  |  |  |  | (3,188 | ) |  |  |  |  |  |  |  |  |  |  | (432 | ) |  |  |  |  |  |  |  |  |  |  | 571 |
Earnings before tax |  |  |  |  |  |  |  |  |  | $ | 162,974 |  |  |  |  |  |  |  |  |  |  | $ | 146,884 |  |  |  |  |  |  |  |  |  |  | $ | 106,906 |
Net Sales |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Contracts with customers |  | $ | 1,992,568 |  |  | $ | 9,304 |  |  | $ | 2,001,872 |  |  | $ | 1,718,093 |  |  | $ | 34,842 |  |  | $ | 1,752,935 |  |  | $ | 1,484,104 |  |  | $ | 12,369 |  |  | $ | 1,496,473 |
Financing and other |  |  | 22,677 |  |  |  | 43,169 |  |  |  | 65,846 |  |  |  | 14,943 |  |  |  | 53,141 |  |  |  | 68,084 |  |  |  | 23,850 |  |  |  | 48,000 |  |  |  | 71,850 |
Total |  | $ | 2,015,245 |  |  | $ | 52,473 |  |  | $ | 2,067,718 |  |  | $ | 1,733,036 |  |  | $ | 87,983 |  |  | $ | 1,821,019 |  |  | $ | 1,507,954 |  |  | $ | 60,369 |  |  | $ | 1,568,323 |
Selected Financial Data - Statement of Cash Flow |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  | $ | 14,999 |  |  | $ | 3,590 |  |  | $ | 18,589 |  |  | $ | 15,592 |  |  | $ | 8,713 |  |  | $ | 24,305 |  |  | $ | 14,568 |  |  | $ | 5,423 |  |  | $ | 19,991 |
Purchases of property, equipment and operating lease equipment |  | $ | 7,693 |  |  | $ | 1,687 |  |  | $ | 9,380 |  |  | $ | 4,951 |  |  | $ | 18,231 |  |  | $ | 23,182 |  |  | $ | 4,752 |  |  | $ | 6,761 |  |  | $ | 11,513 |
Selected Financial Data - Balance Sheet |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total assets |  | $ | 1,147,821 |  |  | $ | 267,005 |  |  | $ | 1,414,826 |  |  | $ | 941,743 |  |  | $ | 224,460 |  |  | $ | 1,166,203 |  |  | $ | 828,576 |  |  | $ | 248,199 |  |  | $ | 1,076,775 |
Technology Segment Disaggregation of Revenue | We analyze net sales for our technology segment by customer end market, by type, and by the timing of the transfer of goods and services and our position as principal or agent, which are summarized below (in thousands):
|  | Year Ended March 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Customer end market: |  |  |  |  |  |  |  |  |
Telecom, Media & Entertainment |  | $ | 532,921 |  |  | $ | 502,408 |  |  | $ | 371,913 |
Technology |  |  | 393,594 |  |  |  | 250,485 |  |  |  | 251,683 |
State and local government and educational institutions |  |  | 290,624 |  |  |  | 241,769 |  |  |  | 245,919 |
Healthcare |  |  | 274,936 |  |  |  | 270,481 |  |  |  | 200,067 |
Financial Services |  |  | 156,257 |  |  |  | 155,160 |  |  |  | 198,761 |
All others |  |  | 366,913 |  |  |  | 312,733 |  |  |  | 239,611 |
Net sales |  |  | 2,015,245 |  |  |  | 1,733,036 |  |  |  | 1,507,954 |
Less: Revenue from financing and other |  |  | (22,677 | ) |  |  | (14,943 | ) |  |  | (23,850 | )
Revenue from contracts with customers |  | $ | 1,992,568 |  |  | $ | 1,718,093 |  |  | $ | 1,484,104 |
Type: |  |  |  |  |  |  |  |  |  |  |  |
Data Center / Cloud |  | $ | 587,097 |  |  | $ | 581,113 |  |  | $ | 516,930 |
Networking |  |  | 803,678 |  |  |  | 611,488 |  |  |  | 510,205 |
Security |  |  | 214,459 |  |  |  | 158,927 |  |  |  | 155,186 |
Collaboration |  |  | 57,472 |  |  |  | 57,244 |  |  |  | 47,504 |
Other |  |  | 88,096 |  |  |  | 83,639 |  |  |  | 75,964 |
ePlus services |  |  | 264,443 |  |  |  | 240,625 |  |  |  | 202,165 |
Net sales |  |  | 2,015,245 |  |  |  | 1,733,036 |  |  |  | 1,507,954 |
Less: Revenue from financing and other |  |  | (22,677 | ) |  |  | (14,943 | ) |  |  | (23,850 | )
Revenue from contracts with customers |  | $ | 1,992,568 |  |  | $ | 1,718,093 |  |  | $ | 1,484,104 |
Timing and position as principal or agent: |  |  |  |  |  |  |  |  |  |  |  |
Transferred at a point in time as principal |  | $ | 1,566,760 |  |  | $ | 1,342,799 |  |  | $ | 1,174,582 |
Transferred at a point in time as agent |  |  | 161,365 |  |  |  | 134,669 |  |  |  | 107,357 |
Transferred over time as principal |  |  | 264,443 |  |  |  | 240,625 |  |  |  | 202,165 |
Revenue from contracts with customers |  | $ | 1,992,568 |  |  | $ | 1,718,093 |  |  | $ | 1,484,104 |
Geographical Information | The geographic information for the years ended March 31, 2023, 2022, and 2021 was as follows (in thousands):
|  | Year Ended March 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Net sales: |  |  |  |  |  |  |  |  |
US |  | $ | 1,953,465 |  |  | $ | 1,716,525 |  |  | $ | 1,476,466 |
Non US |  |  | 114,253 |  |  |  | 104,494 |  |  |  | 91,857 |
Total |  | $ | 2,067,718 |  |  | $ | 1,821,019 |  |  | $ | 1,568,323 |
Our long-lived tangible assets include property and equipment-net, operating leases-net, and equipment that has been returned to us at the termination of the lease.
|  | March 31, |
|  | 2023 |  |  | 2022 |
Long-lived tangible assets: |  |  |  |  |  |
US |  | $ | 16,313 |  |  | $ | 21,837 |
Non US |  |  | 1,140 |  |  |  | 716 |
Total |  | $ | 17,453 |  |  | $ | 22,553 |

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