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SEGMENT REPORTING (Tables) | 3 Months Ended
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Jun. 30, 2024
SEGMENT REPORTING [Abstract] |
Segment Reporting Information, by Reportable Segment | The following table provides reportable segment information (in thousands):
|  | Three Months Ended June 30, |
|  | 2024 |  |  | 2023 |
Net Sales |  |  |  |  |  |
Product |  | $ | 457,312 |  |  | $ | 498,166 |
Professional services |  |  | 37,279 |  |  |  | 35,556 |
Managed services |  |  | 40,910 |  |  |  | 31,963 |
Financing |  |  | 9,037 |  |  |  | 8,490 |
Total |  |  | 544,538 |  |  |  | 574,175 |
Gross Profit |  |  |  |  |  |  |  |
Product |  |  | 98,505 |  |  |  | 111,391 |
Professional services |  |  | 15,455 |  |  |  | 14,724 |
Managed services |  |  | 12,834 |  |  |  | 9,797 |
Financing |  |  | 7,687 |  |  |  | 6,361 |
Total |  |  | 134,481 |  |  |  | 142,273 |
Operating expenses |  |  |  |  |  |  |  |
Technology business |  |  | 94,903 |  |  |  | 92,414 |
Financing |  |  | 4,109 |  |  |  | 3,527 |
Total |  |  | 99,012 |  |  |  | 95,941 |
Operating income |  |  |  |  |  |  |  |
Technology business |  |  | 31,891 |  |  |  | 43,498 |
Financing |  |  | 3,578 |  |  |  | 2,834 |
Total |  |  | 35,469 |  |  |  | 46,332 |
Other income (expense), net |  |  | 2,073 |  |  |  | 190 |
Earnings before tax |  | $ | 37,542 |  |  | $ | 46,522 |
Depreciation and amortization |  |  |  |  |  |  |  |
Technology business |  | $ | 4,819 |  |  | $ | 4,764 |
Financing |  |  | - |  |  |  | 28 |
Total |  | $ | 4,819 |  |  | $ | 4,792 |
Interest and financing costs |  |  |  |  |  |  |  |
Technology business |  | $ | - |  |  | $ | 550 |
Financing |  |  | 585 |  |  |  | 301 |
Total |  | $ | 585 |  |  | $ | 851 |
Selected Financial Data - Statement of Cash Flow |  |  |  |  |  |  |  |
Purchases of property, equipment, and operating lease equipment |  |  |  |  |  |  |  |
Technology business |  | $ | 580 |  |  | $ | 2,785 |
Financing |  |  | 1,387 |  |  |  | 913 |
Total |  | $ | 1,967 |  |  | $ | 3,698 |
Disaggregation of Net Sales and Revenue Recognized from Contracts with Customers [Table Text Block] | The following tables provide a disaggregation of net sales by source and further disaggregates our revenue recognized from contracts with customers by timing and our position as principal or agent (in thousands):
|  | Three Months Ended June 30, 2024 |
|  | Product |  |  | Professional Services |  |  | Managed Services |  |  | Financing |  |  | Total |
Net Sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Contracts with customers |  | $ | 453,802 |  |  | $ | 37,279 |  |  | $ | 40,910 |  |  | $ | 1,105 |  |  | $ | 533,096 |
Financing and other |  |  | 3,510 |  |  |  | - |  |  |  | - |  |  |  | 7,932 |  |  |  | 11,442 |
Total |  | $ | 457,312 |  |  | $ | 37,279 |  |  | $ | 40,910 |  |  | $ | 9,037 |  |  | $ | 544,538 |
Timing and position as principal or agent: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Transferred at a point in time as principal |  | $ | 418,374 |  |  | $ | - |  |  | $ | - |  |  | $ | 1,105 |  |  | $ | 419,479 |
Transferred at a point in time as agent |  |  | 35,428 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 35,428 |
Transferred over time as principal |  |  | - |  |  |  | 37,279 |  |  |  | 40,910 |  |  |  | - |  |  |  | 78,189 |
Total revenue from contracts with customers |  | $ | 453,802 |  |  | $ | 37,279 |  |  | $ | 40,910 |  |  | $ | 1,105 |  |  | $ | 533,096 |
|  | Three Months Ended June 30, 2023 |
|  | Product |  |  | Professional Services |  |  | Managed Services |  |  | Financing |  |  | Total |
Net Sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Contracts with customers |  | $ | 490,543 |  |  | $ | 35,556 |  |  | $ | 31,963 |  |  | $ | 1,290 |  |  | $ | 559,352 |
Financing and other |  |  | 7,623 |  |  |  | - |  |  |  | - |  |  |  | 7,200 |  |  |  | 14,823 |
Total |  | $ | 498,166 |  |  | $ | 35,556 |  |  | $ | 31,963 |  |  | $ | 8,490 |  |  | $ | 574,175 |
Timing and position as principal or agent: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Transferred at a point in time as principal |  | $ | 452,382 |  |  | $ | - |  |  | $ | - |  |  | $ | 1,290 |  |  | $ | 453,672 |
Transferred at a point in time as agent |  |  | 38,161 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 38,161 |
Transferred over time as principal |  |  | - |  |  |  | 35,556 |  |  |  | 31,963 |  |  |  | - |  |  |  | 67,519 |
Total revenue from contracts with customers |  | $ | 490,543 |  |  | $ | 35,556 |  |  | $ | 31,963 |  |  | $ | 1,290 |  |  | $ | 559,352 |
Technology Segment Disaggregation of Revenue | The following table provides a disaggregation of our revenue from contracts with customers for our technology business by customer end market and by type (in thousands):
|  | Three Months Ended June 30, |
|  | 2024 |  |  | 2023 |
Customer end market: |  |  |  |  |  |
Telecom, media & entertainment |  | $ | 117,553 |  |  | $ | 141,335 |
Technology |  |  | 109,106 |  |  |  | 73,403 |
SLED |  |  | 92,096 |  |  |  | 109,405 |
Healthcare |  |  | 75,280 |  |  |  | 86,656 |
Financial services |  |  | 49,725 |  |  |  | 65,690 |
All others |  |  | 91,741 |  |  |  | 89,196 |
Net sales |  |  | 535,501 |  |  |  | 565,685 |
Less: revenue from financing and other |  |  | (3,510 | ) |  |  | (7,623 | )
Total revenue from contracts with customers |  | $ | 531,991 |  |  | $ | 558,062 |
Type: |  |  |  |  |  |  |  |
Product |  |  |  |  |  |  |  |
Networking |  | $ | 234,740 |  |  | $ | 245,188 |
Cloud |  |  | 137,231 |  |  |  | 172,044 |
Security |  |  | 48,005 |  |  |  | 45,796 |
Collaboration |  |  | 20,899 |  |  |  | 12,956 |
Other |  |  | 16,437 |  |  |  | 22,182 |
Total product |  |  | 457,312 |  |  |  | 498,166 |
Professional services |  |  | 37,279 |  |  |  | 35,556 |
Managed services |  |  | 40,910 |  |  |  | 31,963 |
Net sales |  |  | 535,501 |  |  |  | 565,685 |
Less: revenue from financing and other |  |  | (3,510 | ) |  |  | (7,623 | )
Total revenue from contracts with customers |  | $ | 531,991 |  |  | $ | 558,062 |

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