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SEGMENT INFORMATION

3 Months Ended

Mar. 31, 2021

Segment and Related Disclosures

Segment and Related Disclosures

Note 5–Segment Information

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The internal reporting structure used by the Company’s chief operating decision maker (“CODM”) to assess performance and allocate resources determines the basis for our reportable operating segments. The Company’s CODM is its Chief Executive Officer, and he evaluates operations and allocates resources based on a measure of operating income.

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The Company’s operations are organized under three reportable segments—the Business Solutions segment, which serves primarily small- and medium-sized businesses; the Enterprise Solutions segment, which serves primarily medium-to-large corporations; and the Public Sector Solutions segment, which serves primarily federal, state, and local governmental and educational institutions. In addition, the Headquarters/Other group provides services in areas such as finance, human resources, information technology, marketing, and product management. Most of the operating costs associated with the Headquarters/Other group functions are charged to the operating segments based on their estimated usage of the underlying functions. The Company reports these charges to the operating segments as “Allocations.” Certain headquarters costs relating to executive oversight and other fiduciary functions that are not allocated to the operating segments are included under the heading of Headquarters/Other in the tables below.

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Segment information applicable to our reportable operating segments for the three months ended March 31, 2021 and 2020 is shown below:

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​	​	​	​	​	​	​	​
​	​	Three Months Ended					​
​	​	March 31,		​	March 31,		​
​		2021			2020
Net sales:	​	​	​	​	​	​	​
Business Solutions	​	$	246,334	​	$	278,785	​
Enterprise Solutions	​		265,285	​		333,418	​
Public Sector Solutions	​		125,273	​		99,647	​
Total net sales	​	$	636,892	​	$	711,850	​
Operating income (loss):	​	​	​	​	​	​	​
Business Solutions	​	$	8,420	​	$	11,301	​
Enterprise Solutions	​		12,543	​		16,722	​
Public Sector Solutions	​		(2,753)	​		(3,322)	​
Headquarters/Other	​		(4,090)	​		(4,051)	​
Total operating income	​		14,120	​		20,650	​
Other (expenses) income, net	​		(7)	​		92	​
Income before taxes	​	$	14,113	​	$	20,742	​
Selected operating expense:	​	​	​	​	​	​	​
Depreciation and amortization:	​	​	​	​	​	​	​
Business Solutions	​	$	159	​	$	159	​
Enterprise Solutions	​		716	​		681	​
Public Sector Solutions	​		14	​		15	​
Headquarters/Other	​		2,276	​		2,292	​
Total depreciation and amortization	​	$	3,165	​	$	3,147	​
Total assets:	​	​	​	​	​	​	​
Business Solutions	​	$	362,694	​	$	319,909	​
Enterprise Solutions	​		568,221	​		536,672	​
Public Sector Solutions	​		94,103	​		52,285	​
Headquarters/Other	​		(66,632)	​		4,326	​
Total assets	​	$	958,386	​	$	913,192	​

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The assets of our three operating segments presented above consist primarily of accounts receivable, net intercompany receivable, goodwill, and other intangibles. Assets reported under the Headquarters/Other group are managed by corporate headquarters, including cash, inventory, property and equipment, right-of-use assets, and intercompany balance, net. As of March 31, 2021 and 2020, total assets for the Headquarters/Other group are presented net of intercompany balance eliminations of $48,026 and $7,024, respectively. Our capital expenditures consist largely of IT hardware and software purchased to maintain or upgrade our management information systems. These information systems serve all of our segments, to varying degrees, and accordingly, our CODM does not evaluate capital expenditures on a segment-by-segment basis.

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- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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