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Segment Information (Tables)

9 Months Ended

Sep. 30, 2025

Segment Information

Segment information applicable to reportable operating segments

Segment information applicable to the Company’s operating segments and the related reconciliations to consolidated amounts for the three and nine months ended September 30, 2025 and 2024 are shown below (in thousands):


		Three Months Ended September 30, 2025
		Enterprise Solutions			Business Solutions			Public Sector Solutions			Total
Net sales		$	319,744		$	256,841		$	132,483		$	709,068
Cost of sales			271,976			188,779			109,668
Personnel costs			16,626			17,490			9,603
Marketing			895			2,724			675
Allocated corporate overhead			18,999			22,822			11,410
Depreciation and amortization			195			155			22
Other segment expenses¹			670			1,165			1,730
Operating income (loss)		$	10,383		$	23,706		$	(625)		$	33,464
Unallocated Headquarters/Other expenses												(3,198)
Interest income, net												3,689
Income before taxes											$	33,955


		Three Months Ended September 30, 2024
		Enterprise Solutions			Business Solutions			Public Sector Solutions			Total
Net sales		$	296,970		$	252,631		$	175,116		$	724,717
Cost of sales			250,753			189,498			149,060
Personnel costs			15,781			17,343			9,794
Marketing			1,228			4,178			739
Allocated corporate overhead			17,767			20,003			10,001
Depreciation and amortization			215			155			22
Other segment expenses¹			946			1,389			1,158
Operating income		$	10,280		$	20,065		$	4,342		$	34,687
Unallocated Headquarters/Other expenses												(4,646)
Interest income, net												4,837
Other income												1,700
Income before taxes											$	36,578

1)

Other segment expenses for each of the reportable segments include service contracts/subscriptions, professional fees, facilities operations, credit card fees, and other miscellaneous expenses.


		Nine Months Ended September 30, 2025
		Enterprise Solutions			Business Solutions			Public Sector Solutions			Total
Net sales		$	943,758		$	808,394		$	417,655		$	2,169,807
Cost of sales			806,070			606,076			353,939
Personnel costs			49,791			52,927			28,462
Marketing			3,779			10,127			2,334
Allocated corporate overhead			55,358			65,819			32,909
Depreciation and amortization			582			465			67
Other segment expenses¹			2,947			5,293			6,043
Operating income (loss)		$	25,231		$	67,687		$	(6,099)		$	86,819
Unallocated Headquarters/Other expenses												(11,134)
Interest income, net												10,805
Other income												76
Income before taxes											$	86,566

Segment assets		$	743,554		$	620,098		$	94,832		$	1,458,484
Headquarters/Other assets												(152,964)
Consolidated assets											$	1,305,520


		Nine Months Ended September 30, 2024
		Enterprise Solutions			Business Solutions			Public Sector Solutions			Total
Net sales		$	878,437		$	786,698		$	428,086		$	2,093,221
Cost of sales			743,441			596,875			362,885
Personnel costs			46,596			53,430			27,455
Marketing			3,872			12,180			2,734
Allocated corporate overhead			54,582			61,200			30,600
Depreciation and amortization			641			465			68
Other segment expenses¹			2,948			4,465			2,638
Operating income		$	26,357		$	58,083		$	1,706		$	86,146
Unallocated Headquarters/Other expenses												(11,722)
Interest income, net												14,053
Other income												1,700
Income before taxes											$	90,177

Segment assets		$	717,143		$	553,881		$	117,728		$	1,388,752
Headquarters/Other assets												(103,007)
Consolidated assets											$	1,285,745

1)

Other segment expenses for each of the reportable segments include service contracts/subscriptions, professional fees, facilities operations, credit card fees, and other miscellaneous expenses.