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Acquisitions (Tables) | 6 Months Ended
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Dec. 31, 2016
Business Acquisition [Line Items] |
Schedule of Unaudited Consolidated Pro Forma Results of Operations | Following the acquisition date, Intelisys contributed the following results to the Condensed Consolidated Income Statement for the quarter and six months ended December 31, 2016.
| Quarter ended December 31, 2016 |  | Six months ended December 31, 2016
Net Sales | $ | 8,487 |  |  | $ | 11,350 |
Amortization of intangible assets | 1,585 |  |  | 2,115 |
Change in fair value of contingent consideration | 2,337 |  |  | 3,167 |
Operating income (loss) | (151 | ) |  | (286 | )
Net income (loss) | $ | 311 |  |  | $ | 11 |
| Quarter ended December 31, 2016 |  | Six months ended December 31, 2016
| (in thousands, except per share data) |  | (in thousands, except per share data)
| As Reported, Consolidated |  | Pro forma, Consolidated (1) |  | As Reported, Consolidated |  | Pro forma, Consolidated (2)
Net Sales | $ | 904,792 |  |  | $ | 904,792 |  |  | $ | 1,837,357 |  |  | $ | 1,842,573 |
Operating income | 23,275 |  |  | 23,358 |  |  | 46,150 |  |  | 47,602 |
Net Income | 23,036 |  |  | 23,119 |  |  | 37,852 |  |  | 38,937 |
Earnings per share: |  |  |  |  |  |  |
Basic | $ | 0.92 |  |  | $ | 0.92 |  |  | $ | 1.49 |  |  | $ | 1.54 |
Diluted | $ | 0.91 |  |  | $ | 0.91 |  |  | $ | 1.48 |  |  | $ | 1.53 |
(1) Pro forma results add back $0.1 million of acquisition costs for the quarter ended December 31, 2016. (2) Pro forma results include actual results from Intelisys for the two months ended August 31, 2016. Adjustments include additional amortization and depreciation expense as if the fair value of identifiable intangible assets, including software, had been recorded on July 1, 2015. On a gross basis, operating income includes additional amortization expense of $1.1 million and additional depreciation expense of $0.2 million for the six months ended December 31, 2016. Net income, net of tax, includes additional amortization expense of $0.7 million and additional depreciation expense of $0.1 million for the six months ended December 31, 2016. Adjustments also include additional income tax expense of $0.8 million and adding back acquisition costs of $0.5 million.
| Quarter ended December 31, 2015 |  | Six months ended December 31, 2015
| (in thousands, except per share data) |  | (in thousands, except per share data)
| As Reported, Consolidated |  | Pro forma, Consolidated (3) |  | As Reported, Consolidated |  | Pro forma, Consolidated (4)
Net Sales | $ | 993,522 |  |  | $ | 1,000,440 |  |  | $ | 1,864,350 |  |  | $ | 1,878,491 |
Operating income | 31,852 |  |  | 32,821 |  |  | 56,293 |  |  | 59,371 |
Net Income | 20,656 |  |  | 21,152 |  |  | 36,652 |  |  | 38,471 |
Earnings per share: |  |  |  |  |  |  |
Basic | $ | 0.78 |  |  | $ | 0.79 |  |  | $ | 1.35 |  |  | $ | 1.42 |
Diluted | $ | 0.77 |  |  | $ | 0.79 |  |  | $ | 1.34 |  |  | $ | 1.40 |
(3) Includes actual results for Intelisys for the quarter ended December 31, 2015. On a gross basis, operating income includes additional amortization expense was $1.6 million and additional depreciation expense was $0.3 million for the quarter ended December 31, 2015. Net income, net of tax, includes additional amortization expense was $1.0 million and additional depreciation expense was $0.2 million for the quarter ended December 31, 2015. Adjustments also include additional income tax expense of $1.1 million. (4) Includes actual results for Intelisys for the six months ended December 31, 2015. On a gross basis, operating income includes additional amortization expense of $3.2 million and additional depreciation expense of $0.5 million for the six months ended December 31, 2015. Net income, net of tax, includes additional amortization expense of $2.0 million and additional depreciation expense of $0.3 million for the six months ended December 31, 2015. Adjustments also include additional income tax expense of $2.6 million.
KBZ, Inc. |
Business Acquisition [Line Items] |
Schedule of Purchase Price Allocations of Assets Acquired and Liabilities Assumed | The purchase price allocation is as follows:
| KBZ
| (in thousands)
Receivables, net | $ | 63,131 |
Inventory | 11,227 |
Other Current Assets | 10,303 |
Property and equipment, net | 677 |
Goodwill | 21,639 |
Identifiable intangible assets | 18,400 |
Other non-current assets | 1,399 |
| $ | 126,776 |
Accounts payable | $ | 48,271 |
Accrued expenses and other current liabilities | 14,863 |
Other long-term liabilities | 2,167 |
Consideration transferred, net of cash acquired | 61,475 |
| $ | 126,776 |
Intelisys |
Business Acquisition [Line Items] |
Schedule of Purchase Price Allocations of Assets Acquired and Liabilities Assumed |
| Intelisys
| (in thousands)
Receivables, net | $ | 21,655 |
Other current assets | 1,547 |
Property and equipment, net | 5,298 |
Goodwill | 109,005 |
Identifiable intangible assets | 63,110 |
Other non-current assets | 1,839 |
| $ | 202,454 |
Accounts payable | $ | 21,063 |
Accrued expenses and other current liabilities | 2,587 |
Contingent consideration | 95,000 |
Consideration transferred, net of cash acquired | 83,804 |
| $ | 202,454 |

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