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Acquisitions (Tables)

6 Months Ended

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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Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
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+ References

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-Name Accounting Standards Codification
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-Paragraph 1
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