PC Connection (CNXN) 10-K 14 Mar 22 2021 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Mar. 11, 2022	Jun. 30, 2021
Document And Entity Information
Document Type	10-K
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2021
Entity File Number	000-23827
Entity Registrant Name	PC CONNECTION, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	02-0513618
Entity Address, Address Line One	730 Milford Road
Entity Address, City or Town	Merrimack
Entity Address, State or Province	NH
Entity Address, Postal Zip Code	03054
City Area Code	603
Local Phone Number	683-2000
Title of 12(b) Security	Common Stock
Trading Symbol	CNXN
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 508
Entity Common Stock, Shares Outstanding		26,260,139
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Entity Central Index Key	0001050377
Amendment Flag	false
Auditor Name	Deloitte & Touche LLP
Auditor Firm ID	34
Auditor Location	Boston, Massachusetts

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current Assets:
Cash and cash equivalents	$ 108,310	$ 95,655
Accounts receivable, net	607,532	611,021
Inventories, net	206,555	140,867
Prepaid expenses and other current assets	10,016	11,437
Total current assets	932,413	858,980
Property and equipment, net	61,011	61,537
Right-of-use assets	9,579	12,821
Goodwill	73,602	73,602
Intangible assets, net	5,868	7,088
Other assets	910	1,345
Total Assets	1,083,383	1,015,373
Current Liabilities:
Accounts payable	281,836	266,846
Accrued payroll	30,966	17,828
Accrued expenses and other liabilities	61,830	57,586
Total current liabilities	374,632	342,260
Deferred income taxes	19,278	18,525
Noncurrent operating lease liabilities	6,789	9,631
Other liabilities	211	8,630
Total Liabilities	400,910	379,046
Stockholders' Equity:
Common Stock, $.01 par value, 100,000 shares authorized, 29,025 and 28,943 issued, 26,252 and 26,170 outstanding at December 31, 2021 and 2020, respectively	290	289
Additional paid-in capital	122,354	119,891
Retained earnings	605,766	562,084
Treasury stock at cost, 2,773 and 2,773 shares at December 31, 2021 and 2020, respectively	(45,937)	(45,937)
Total Stockholders' Equity	682,473	636,327
Total Liabilities and Stockholders' Equity	$ 1,083,383	$ 1,015,373

CONSOLIDATED BALANCE SHEETS (PA

CONSOLIDATED BALANCE SHEETS (PARENTHETICAL) - $ / shares shares in Thousands	Dec. 31, 2021	Dec. 31, 2020
Consolidated Balance Sheets
Common Stock, par value	$ 0.01	$ 0.01
Common Stock, shares authorized	100,000	100,000
Common Stock, shares issued	29,025	28,943
Common Stock, shares outstanding	26,252	26,170
Treasury stock, shares	2,773	2,773

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Consolidated Statements of Income
Net sales	$ 2,892,595	$ 2,590,290	$ 2,820,034
Cost of sales	2,428,016	2,171,483	2,368,724
Gross profit	464,579	418,807	451,310
Selling, general and administrative expenses	368,062	345,741	338,635
Restructuring and other charges	0	992	703
Income from operations	96,517	72,074	111,972
Other income, net	5	1,122	707
Income before taxes	96,522	73,196	112,679
Income tax provision	(26,616)	(17,431)	(30,568)
Net income	$ 69,906	$ 55,765	$ 82,111
Earnings per common share:
Basic	$ 2.67	$ 2.13	$ 3.12
Diluted	$ 2.65	$ 2.12	$ 3.10
Shares used in computation of earnings per common share:
Basic	26,196	26,157	26,335
Diluted	26,364	26,336	26,505

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Common Stock	Additional Paid-In Capital	Retained Earnings	Treasury Shares	Total
Balance at Dec. 31, 2018	$ 288	$ 115,842	$ 441,010	$ (31,237)	$ 525,903
Balance (in shares) at Dec. 31, 2018	28,787			(2,391)
Issuance of common stock under Employee Stock Purchase Plan		1,253			1,253
Issuance of common stock under Employee Stock Purchase Plan (in shares)	32
Stock-based compensation expense		1,863			1,863
Restricted stock units vested (in shares)	51
Shares withheld for taxes paid on stock awards		(913)			(913)
Repurchase of common stock for treasury				$ (4,478)	(4,478)
Repurchase of common stock for treasury (in shares)				(135)
Dividend declaration			(8,427)		(8,427)
Net income			82,111		82,111
Balance at Dec. 31, 2019	$ 288	118,045	514,694	$ (35,715)	597,312
Balance (in shares) at Dec. 31, 2019	28,870			(2,526)
Issuance of common stock under Employee Stock Purchase Plan		536			536
Issuance of common stock under Employee Stock Purchase Plan (in shares)	12
Stock-based compensation expense		2,668			2,668
Restricted stock units vested	$ 1	(1)
Restricted stock units vested (in shares)	61
Shares withheld for taxes paid on stock awards		(1,357)			(1,357)
Repurchase of common stock for treasury				$ (10,222)	(10,222)
Repurchase of common stock for treasury (in shares)				(247)
Dividend declaration			(8,375)		(8,375)
Net income			55,765		55,765
Balance at Dec. 31, 2020	$ 289	119,891	562,084	$ (45,937)	$ 636,327
Balance (in shares) at Dec. 31, 2020	28,943			(2,773)	28,943
Stock-based compensation expense		4,231			$ 4,231
Restricted stock units vested	$ 1	(1)
Restricted stock units vested (in shares)	82
Shares withheld for taxes paid on stock awards		(1,767)			(1,767)
Dividend declaration			(26,224)		(26,224)
Net income			69,906		69,906
Balance at Dec. 31, 2021	$ 290	$ 122,354	$ 605,766	$ (45,937)	$ 682,473
Balance (in shares) at Dec. 31, 2021	29,025			(2,773)	29,025

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash Flows provided by Operating Activities:
Net income	$ 69,906	$ 55,765	$ 82,111
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	12,202	13,603	13,314
Adjustments to credit losses reserve	3,307	3,316	25
Stock-based compensation expense	4,231	2,668	1,863
Deferred income taxes	753	(1,645)	2,986
Gain from life insurance		(1,061)
(Gain) loss on disposal of fixed assets	(36)	28	213
Changes in assets and liabilities:
Accounts receivable	(1,318)	(63,650)	(101,953)
Inventories	(65,688)	(16,201)	(5,471)
Prepaid expenses and other current assets	1,421	622	(1,476)
Other non-current assets	435	(398)	264
Accounts payable	14,814	32,515	34,960
Accrued expenses and other liabilities	17,727	10,536	9,767
Net cash provided by operating activities	57,754	36,098	36,603
Cash Flows used in Investing Activities:
Purchases of equipment and capitalized software	(10,302)	(11,033)	(25,656)
Proceeds from sale of equipment	69
Proceeds from life insurance	1,500
Net cash used in investing activities	(8,733)	(11,033)	(25,656)
Cash Flows used in Financing Activities:
Purchase of treasury shares		(10,222)	(4,478)
Dividend payments	(34,599)	(8,427)	(8,452)
Issuance of stock under Employee Stock Purchase Plan		536	1,253
Payments of payroll taxes on stock-based compensation through shares withheld	(1,767)	(1,357)	(913)
Net cash used in financing activities	(36,366)	(19,470)	(12,590)
Increase (decrease) in cash and cash equivalents	12,655	5,595	(1,643)
Cash and cash equivalents, beginning of period	95,655	90,060	91,703
Cash and cash equivalents, end of period	108,310	95,655	90,060
Non-cash Investing and Financing Activities:
Accrued capital expenditures	334	442	1,463
Dividend declarations		8,375	8,427
Life insurance recorded as accounts receivable		1,500
Supplemental Cash Flow Information:
Income taxes paid	$ 21,465	$ 19,441	$ 28,460

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2021
Basis of Presentation
Summary of Significant Accounting Policies	PC CONNECTION, INC. AND SUBSIDIARIES ​ NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (amounts in thousands, except per share data) ​ 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES ​ PC Connection, Inc. is a Fortune 1000 Global Solutions Provider that simplifies the information technology, or IT, purchasing experience, guiding the connection between people and technology. The Company’s dedicated Account Managers partner with customers to design, deploy, and support cutting-edge IT environments using the latest hardware, software, and services. The Company provides a wide range of IT solutions, from the desktop to the cloud—including computer systems, data center solutions, software and peripheral equipment, networking communications, and other products and accessories that the Company purchases from manufacturers, distributors, and other suppliers. The Company also offers comprehensive portfolio of managed services and professional services. These services are performed by the Company’s personnel and by third-party providers. The Company’s GlobalServe offering ensures worldwide coverage for the Company’s multinational customers, delivering global procurement solutions through the Company’s network of incountry suppliers in over 150 countries. ​ The Company operates through three sales segments: ​ • • • ​ The following is a summary of the Company’s significant accounting policies: ​ Principles of Consolidation ​ The consolidated financial statements include the accounts of PC Connection, Inc. and its subsidiaries, all of which are wholly-owned. Intercompany transactions and balances are eliminated in consolidation. ​ Use of Estimates in the Preparation of Financial Statements ​ The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts and disclosures of assets and liabilities and the reported amounts and disclosures of revenue and expenses during the period. Management bases its estimates and judgments on the information available at the time and various other assumptions believed to be reasonable under the circumstances. By nature, estimates are subject to an inherent degree of uncertainty. Actual results could differ from those estimates and assumptions. ​ Revenue Recognition ​ Revenue is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration the Company expects to receive in exchange for those products or services. The Company enters into contracts that can include various combinations of products and services, which are generally capable of being distinct and accounted for as separate performance obligations. In most instances, when several performance obligations are aggregated into one single transaction, these performance obligations are fulfilled at the same point in time. The Company accounts for an arrangement when it has approval and commitment from both parties, the rights are identified, the contract has commercial substance, and collectability of consideration is probable. The Company generally obtains oral or written purchase authorizations from its customers for a specified amount of product at a specified price, which constitutes an arrangement. Revenue is recognized at the amount expected to be collected, net of any taxes collected from customers, which are subsequently remitted to governmental authorities. The Company generally invoices for its products at the time of shipping, and accordingly there is not a significant financing component included in our arrangements. ​ Cost of Sales and Certain Other Costs ​ Cost of sales includes the invoice cost of the product, direct employee and third party cost of services, direct costs of packaging, inbound and outbound freight, and provisions for inventory obsolescence, adjusted for discounts, rebates, and other vendor allowances. ​ Cash and Cash Equivalents ​ The Company considers all highly liquid short-term investments with original maturities of 90 days or less to be cash equivalents. The carrying value of our cash equivalents approximates fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The accounting guidance includes a fair value hierarchy that priorities the inputs to valuation techniques used to measure fair value. The three levels of the fair value hierarchy are as as follows: ​ ● Level 1 : Quoted prices for identical assets or liabilities in active markets.; ​ ● Level 2 : Observable inputs other than those described as Level 1; ​ ● Level 3 : Unobservable inputs that are supportable by little or no market activities and are based on significant assumptions and estimates.; ​ The company’s money market funds are valued at the closing price reported by the fund sponsor from an actively traded exchange. It is included as cash equivalents within the Company’s consolidated balance sheet and is categorized as a level 1 measurement. ​ The majority of payments due from credit card processors and banks for third-party credit card and debit card transactions process within one to five business days. All credit card and debit card transactions that process in less than seven days are classified as cash and cash equivalents. Amounts due from banks for credit card transactions classified as cash equivalents totaled $4,748 and $3,776 at December 31, 2021 and 2020, respectively. ​ Accounts Receivable ​ Account receivable are recorded at the invoice amount, net of allowances. Customers are evaluated for their credit worthiness at the time of contract inception and, the Company performs ongoing credit evaluations of its customers and adjusts credit limits based on payment history and customer creditworthiness. Based on the results of the credit assessments, the Company will extend credit under its standard payment terms or may request alternative early payment actions. The Company determines the required allowance for expected credit losses using information such as its customer credit history and financial condition, industry and market segment information, credit reports, and economic trends and conditions. Allowances can be affected by changes in the industry, customer credit issues or customer bankruptcies or expectations of any such events in a future period when reasonable and supportable. Historical information is utilized beyond reasonable and supportable forecast periods. Amounts are charged against the allowance when it is determined that expected credit losses may occur. We assess collectability by reviewing account receivable on an aggregated basis where similar characteristics exist and on an individual basis when we identify specific customers with collectability issues, and if necessary, records a reserve against those receivables it determines may not be collectable. Trade receivables are written off in the period in which they are deemed uncollectible. Recoveries of trade receivables previously charged are recorded when received. ​ Inventories ​ Inventories (all finished goods) consisting of software packages, computer systems, and peripheral equipment, are stated at cost (determined under a weighted-average cost method which approximates the first-in, first-out method) or net realizable value, whichever is lower. Inventory quantities on hand are reviewed regularly, and allowances are maintained for obsolete, slow moving, and nonsalable inventory. ​ Advertising Costs and Vendor Consideration ​ Vendors have the ability to fund advertising activities for which the Company receives advertising consideration. This vendor consideration, to the extent that it represents specific reimbursements of incremental and identifiable costs, is offset against selling, general and administrative expenses (“SG&A”) expenses. Advertising consideration that cannot be associated with a specific program or that exceeds the fair value of advertising expense associated with that program is classified as an offset to cost of sales. The Company’s vendor partners generally consolidate their funding of advertising and other marketing programs, and accordingly, the Company classifies substantially all vendor consideration as a reduction of cost of sales rather than a reduction of advertising expense. Other advertising costs are expensed as incurred. Advertising expense, which is classified as a component of SG&A expenses, totaled $15,827, $14,021, and $19,407 for the years ended December 31, 2021, 2020, and 2019, respectively. ​ Property and Equipment ​ Property and equipment are stated at cost, net of accumulated depreciation and amortization. The estimated useful lives of the assets range from three three ​ Costs incurred to develop internal-use software during the application development stage are recorded in property and equipment at cost. External direct costs of materials and services consumed in developing or obtaining internal-use computer software and payroll-related costs for employees developing internal-use computer software projects, to the extent of their time spent directly on the project and specific to application development, are capitalized. ​ When events or circumstances indicate a potential impairment, the Company evaluates the carrying value of property and equipment based upon current and anticipated undiscounted cash flows. The Company recognizes impairment when it is probable that such estimated future cash flows will be less than the asset carrying value. No property and equipment impairment was recognized for each of the years ended December 31, 2021, 2020 and 2019. ​ Leases The Company enters into operating lease contracts, as assessed at contract inception, primarily for real estate and equipment. On the lease commencement date, the Company records operating lease liabilities based on the present value of the future lease payments. In determining the present value of future lease payments, the Company utilized estimated rates that it would have incurred to borrow, over a similar term, the funds necessary to purchase the respective leased asset with cash. The Company elects to apply the short-team lease exception to any leases with contractual obligations of one year or less. These leases will not have a right-of-use (“ROU”) assets and associated lease liabilities on the balance sheet. Instead, rent will be recognized on a straight-line Goodwill and Other Intangible Assets ​ The Company’s intangible assets consist of (1) goodwill, which is not subject to amortization; (2) an internet domain name, which is an indefinite-lived intangible not subject to amortization; and (3) amortizing intangibles, which consist of customer lists, trade names, and customer relationships, which are being amortized over their useful lives. ​ Note 3 describes the annual impairment methodology that the Company uses each year in calculating the recoverability of goodwill and non-amortizing intangibles. This same impairment test is performed at other times during the course of a year should an event occur or circumstance change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. ​ Recoverability of amortizing intangible assets is assessed only when events have occurred that may give rise to impairment. When a potential impairment has been identified, forecasted undiscounted net cash flows of the operations to which the asset relates are compared to the current carrying value of the long-lived assets present in that operation. If such cash flows are less than such carrying amounts, long-lived assets including such intangibles, are written down to their respective fair values. No intangible assets impairment was recognized for each of the years ended December 31, 2021, 2020 and 2019. ​ Concentrations ​ Concentrations of credit risk with respect to trade account receivables are limited due to the large number of customers comprising the Company’s customer base. No single customer accounted for more than 4% of total net sales in 2021, 2020, and 2019. ​ Product purchases from Ingram Micro, Inc., TD Synnex Corporation, and Dell Inc. accounted for approximately 23%, 23% and 12% respectively, of our total product purchases in 2021. Product purchases from Ingram Micro, Inc., TD Synnex Corporation and HP Inc. accounted for approximately 21%, 15% and 12% respectively, of the Company’s total product purchases in 2020. Product purchases from Ingram Micro, Inc., TD Synnex Corporation and HP Inc. accounted for approximately 21%, 14% and 8% respectively, of the Company’s total product purchases in 2019. No other singular vendor supplied more than 10% of the Company’s total product purchases in 2021, 2020 and 2019. We believe that, while the Company may experience some short-term disruption if products from Ingram Micro, Inc., TD Synnex Corporation, Dell Inc., and HP Inc., or any of these vendors become unavailable to us, alternative sources for these products are available. ​ Products manufactured by HP Inc. collectively represented approximately 15% of the Company’s net sales in 2021, 18% in 2020 and 19% in 2019. In the event the Company experiences either a short-term or permanent disruption of supply of HP products, such disruption would likely have a material adverse effect on the Company’s results of operations and cash flows. ​ Restructuring and other charges ​ Restructuring and other charges are presented separately from SG&A expenses. In the years ended December 31 2020 and 2019, we undertook actions across the business to lower our cost structure and align our business in an effort to improve our ability to execute our strategy. In connection with these restructuring initiatives, we incurred restructuring and related costs of $1.0 million and $0.7 million for the years ended December 31, 2020 and 2019, respectively. There were no restructuring related costs incurred for the year ended December 31, 2021. ​ Earnings Per Share ​ Basic earnings per common share is computed using the weighted average number of shares outstanding. Diluted earnings per share is computed using the weighted average number of shares outstanding adjusted for the incremental shares attributable to nonvested stock units and stock options outstanding, if dilutive. ​ The following table sets forth the computation of basic and diluted earnings per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Numerator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income ​ $ 69,906 ​ $ 55,765 ​ $ 82,111 ​ Denominator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Denominator for basic earnings per share ​ 26,196 ​ 26,157 ​ 26,335 ​ Dilutive effect of employee stock awards ​ 168 ​ 179 ​ 170 ​ Denominator for diluted earnings per share ​ 26,364 ​ 26,336 ​ 26,505 ​ Earnings per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic ​ $ 2.67 ​ $ 2.13 ​ $ 3.12 ​ Diluted ​ $ 2.65 ​ $ 2.12 ​ $ 3.10 ​ ​ For the years ended December 31, 2021, 2020, and 2019, the Company did not exclude any outstanding nonvested stock units or stock options from the computation of diluted earnings per share because including them would have had an anti-dilutive effect. ​ Recently Issued Financial Accounting Standards ​ In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848) Facilitation of the Effects of Reference Rate Reform on Financial Reporting. This guidance provides temporary optional expedients and exceptions to the U.S. GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burdens of the expected market transition from the London Interbank Offered Rate (“LIBOR”) and other interbank offered rates to alternative reference rates, such as the Secured Overnight Financing Rate. This ASU is applied prospectively and becomes effective immediately upon the transition from LIBOR. The Company’s secured credit facility agreement references LIBOR, which is expected to be discontinued as a result of reference rate reform. The optional amendments are effective as of March 12, 2020 through December 31, 2022. The Company is currently evaluating the effect of the adoption of this standard on the Company, but does not believe the adoption will have a material effect on its consolidated financial statements.

REVENUE

REVENUE	12 Months Ended
	Dec. 31, 2021
Revenue
Revenue	2. REVENUE ​ Nature of Products and Services ​ Information technology (“IT”) products typically represent a distinct performance obligation, and revenue is recognized at the point in time when control is transferred to the customer which is generally upon delivery to the customer. The Company recognizes revenue as the principal in the transaction with the customer (i.e., on a gross basis), as it controls the product prior to delivery to the customer and derive the economic benefits from the sales transaction given the Company’s control over customer pricing. ​ The Company does not recognize revenue for goods that remain in its physical possession before the customer has the ability to direct the use of, and obtain substantially all of the remaining benefits from the products, the goods are ready for physical transfer to and identified as belonging to the customer, and when the Company has no ability to use the product or to direct it to another customer. ​ Licenses for on-premise software provide the customer with a right to take possession of the software. Customers may purchase perpetual licenses or enter into subscriptions to the licensed software. The Company is the principal in these transactions and recognizes revenue for the on-premise license at the point in time when the software is made available to the customer and the commencement of the term of the software license or when the renewal term begins, as applicable. ​ For certain on-premise licenses for security software, the customer derives substantially all of the benefit from these arrangements through the third-party delivered software maintenance, which provides software updates and other support services. The Company does not have control over the delivery of these performance obligations, and accordingly the Company is the agent in these transactions. The Company recognizes revenue for security software net of the related costs of sales at the point in time when its vendor and customer accept the terms and conditions in the sales arrangement. Cloud products allow customers to use hosted software over the contractual period without taking possession of the software and are provided on a subscription basis. The Company does not exercise control over these products or services and therefore is an agent in these transactions. The Company recognizes revenue for cloud products net of the related costs of sales at the point in time when its vendor and customer accept the terms and conditions in the sales arrangements. ​ Certain software sales include on-premise licenses that are combined with software maintenance. Software maintenance conveys rights to updates, bug fixes and help desk support, and other support services transferred over the underlying contract period. On-premise licenses are considered distinct performance obligations when sold with the software maintenance, as the Company sells these items separately. The Company recognizes revenue related to the software maintenance as the agent in these transactions because it does not have control over the on-going software maintenance service. Revenue allocated to software maintenance is recognized at the point in time when the Company’s vendor and customer accept the terms and conditions in the sales arrangements. ​ Certain of the Company’s larger customers are offered the opportunity by vendors to purchase software licenses and maintenance under enterprise agreements (“EAs”). Under EAs, customers are considered to be compliant with applicable license requirements for the ensuing year, regardless of changes to their employee base. Customers are charged an annual true-up fee for changes in the number of users over the year. With most EAs, the Company’s vendors will transfer the license and bill the customer directly, paying resellers, such as the Company, an agency fee or commission on these sales. The Company records these agency fees as a component of net sales as earned and there is no corresponding cost of sales amount. In certain instances, the Company invoices the customer directly under an EA and account for the individual items sold based on the nature of each item. The Company’s vendors typically dictate how the EA will be sold to the customer. ​ The Company also offers extended service plans (“ESP”) on IT products, both as part of the initial arrangement and separately from the IT products. The Company recognizes revenue related to ESP as the agent in the transaction because it does not have control over the on-going ESP service and does not provide any service after the sale. Revenue allocated to ESP is recognized at the point in time when the Company’s vendor and customer accept the terms and conditions in the sales arrangement. ​ The Company uses its own engineering personnel to assist in projects involving the design and installation of systems and networks, and also engages third-party service providers to perform warranty maintenance, implementations, asset disposal, and other services. Service revenue is recognized in general over time as the Company performs the underlying services and satisfies its performance obligations. The Company evaluates such engagements to determine whether it is the principal or the agent in each transaction. For those transactions in which the Company does not control the service, the Company acts as an agent and recognizes the transaction revenue on a net basis at a point in time when the vendor and customer accept the terms and conditions in the sales arrangement. ​ All amounts billed to a customer in a sales transaction related to shipping and handling, if any, represent revenues earned for the goods provided, and these amounts have been included in net sales. Costs related to shipping and handling billing are classified as cost of sales. Sales are reported net of sales, use, or other transaction taxes that are collected from customers and remitted to taxing authorities. ​ Significant Judgments ​ The Company’s contracts with customers often include promises to transfer multiple products or services to a customer. Determining whether the Company is the agent or the principal and whether products and services are considered distinct performance obligations that should be accounted for separately versus together may require significant judgment. ​ The Company estimates the standalone selling price (“SSP”) for each distinct performance obligation when a single arrangement contains multiple performance obligations and the fulfillment occurs at different points of times. The Company maximizes the use of observable inputs in the determination of the estimate for SSP for the items that it does not sell separately, including on-premise licenses sold with software maintenance, and IT products sold with ESP. In instances where SSP is not directly observable, such as when the Company does not sell the product or service separately, the Company determines the SSP using information that may include market conditions and other observable inputs. ​ The Company provides its customers with a limited thirty-day right of return, which is generally limited to defective merchandise, and gives rise to variable consideration. Revenue is recognized based on the most likely amount to which it is expected to be entitled. The estimated variable consideration is included in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur once the uncertainty is resolved. The Company makes estimates of product returns based on significant historical experience. The Company records its sales return reserve as a reduction of revenues and either as reduction of accounts receivable or, for customers who have already paid, as accrued expenses and as a reduction of cost of sales and an associated right of return asset. ​ Description of Revenue ​ The Company disaggregates revenue from its arrangements with customers by type of products and services, as it believes this method best depicts how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors. ​ The following tables represent a disaggregation of revenue from arrangements with customers for the year ended December 31, 2021, 2020 and 2019, along with the reportable segment for each category. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Year Ended December 31, 2021 ​ Business Solutions Enterprise Solutions Public Sector Solutions Total Notebooks/Mobility ​ $ 426,022 ​ $ 428,868 ​ $ 241,146 ​ $ 1,096,036 Desktops ​ ​ 87,822 ​ ​ 140,468 ​ ​ 45,989 ​ ​ 274,279 Software ​ ​ 120,104 ​ ​ 119,423 ​ ​ 39,611 ​ ​ 279,138 Servers/Storage ​ ​ 92,922 ​ ​ 66,027 ​ ​ 37,081 ​ ​ 196,030 Net/Com Products ​ 81,681 ​ 86,454 ​ ​ 34,336 ​ 202,471 Displays and Sound ​ ​ 99,474 ​ ​ 125,610 ​ ​ 59,153 ​ ​ 284,237 Accessories ​ 115,048 ​ 179,249 ​ ​ 44,104 ​ 338,401 Other Hardware/Services ​ 75,423 ​ 103,360 ​ ​ 43,220 ​ 222,003 Total net sales ​ $ 1,098,496 ​ $ 1,249,459 ​ $ 544,640 ​ $ 2,892,595 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Year Ended December 31, 2020 ​ Business Solutions Enterprise Solutions Public Sector Solutions Total Notebooks/Mobility ​ $ 319,046 ​ $ 303,471 ​ $ 203,090 ​ $ 825,607 Desktops ​ ​ 89,828 ​ ​ 129,011 ​ ​ 36,744 ​ ​ 255,583 Software ​ ​ 124,681 ​ ​ 115,596 ​ ​ 42,793 ​ ​ 283,070 Servers/Storage ​ 93,535 ​ ​ 76,107 ​ ​ 42,694 ​ ​ 212,336 Net/Com Products ​ 75,141 ​ 96,203 ​ ​ 47,930 ​ 219,274 Displays and Sound ​ ​ 85,769 ​ ​ 78,312 ​ ​ 51,502 ​ ​ 215,583 Accessories ​ ​ 113,402 ​ 201,562 ​ ​ 47,504 ​ 362,468 Other Hardware/Services ​ 64,630 ​ 115,307 ​ ​ 36,432 ​ 216,369 Total net sales ​ $ 966,032 ​ $ 1,115,569 ​ $ 508,689 ​ $ 2,590,290 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Year Ended December 31, 2019 ​ Business Solutions Enterprise Solutions Public Sector Solutions Total Notebooks/Mobility ​ $ 317,282 ​ $ 322,530 ​ ​ 166,132 ​ $ 805,944 Desktops ​ ​ 127,373 ​ ​ 154,602 ​ ​ 63,949 ​ ​ 345,924 Software ​ ​ 146,287 ​ ​ 133,584 ​ ​ 54,956 ​ ​ 334,827 Servers/Storage ​ 105,617 ​ ​ 72,445 ​ ​ 60,334 ​ ​ 238,396 Net/Com Products ​ 94,340 ​ 72,185 ​ ​ 52,776 ​ 219,301 Displays and Sound ​ ​ 88,667 ​ ​ 105,172 ​ ​ 56,183 ​ ​ 250,022 Accessories ​ ​ 98,890 ​ 211,772 ​ ​ 46,647 ​ 357,309 Other Hardware/Services ​ 81,593 ​ 121,530 ​ ​ 65,188 ​ 268,311 Total net sales ​ $ 1,060,049 ​ $ 1,193,820 ​ $ 566,165 ​ $ 2,820,034 ​ Contract Balances ​ The following table provides information about contract liabilities from arrangements with customers as of December 31, 2021 and December 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 December 31, 2020 Contract liabilities, which are included in "Accrued expenses and other liabilities" ​ $ 8,628 ​ $ 3,509 ​ ​ Changes in the contract liability balances during the years ended December 31, 2021 and 2020 are as follows (in thousands): ​ ​ ​ ​ ​ ​ 2021 Balances at December 31, 2020 ​ $ 3,509 Cash received in advance and not recognized as revenue ​ 28,114 Amounts recognized as revenue as performance obligations satisfied ​ (22,995) Balances at December 31, 2021 ​ $ 8,628 ​ ​ ​ ​ ​ ​ 2020 Balances at December 31, 2019 ​ $ 5,942 Cash received in advance and not recognized as revenue ​ 10,800 Amounts recognized as revenue as performance obligations satisfied ​ (13,233) Balances at December 31, 2020 ​ $ 3,509 ​

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure
Goodwill and Other Intangible Assets	3. GOODWILL AND OTHER INTANGIBLE ASSETS ​ Goodwill Goodwill is held by the Company’s Large Account and SMB segments. Goodwill and intangible assets with indefinite lives are subject to an annual impairment test as of November 30 and tested more frequently if events or circumstances occur that would indicate a potential decline in fair value. In 2021 and 2020, the Company performed a qualitative “step 0”analysis. ASC 350— Intangible Goodwill and Other Based on the above qualitative analysis, the Company determined goodwill was not impaired for the years ended December 31, 2021 and 2020. The carrying amount of goodwill for the periods presented is detailed below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at December 31, 2021 SMB Large Account Public Sector Total Goodwill, gross ​ $ 8,539 ​ $ 66,236 ​ $ 7,634 ​ $ 82,409 ​ Accumulated impairment losses ​ (1,173) ​ ─ ​ (7,634) ​ (8,807) ​ Net balance ​ $ 7,366 ​ $ 66,236 ​ $ — ​ $ 73,602 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at December 31, 2020 SMB Large Account Public Sector Total Goodwill, gross ​ $ 8,539 ​ $ 66,236 ​ $ 7,634 ​ $ 82,409 ​ Accumulated impairment losses ​ (1,173) ​ ─ ​ (7,634) ​ (8,807) ​ Net balance ​ $ 7,366 ​ $ 66,236 ​ $ — ​ $ 73,602 ​ ​ Intangible Assets ​ At December 31, 2021, the Company’s intangible assets included a domain name for $450, which has an indefinite life and is not subject to amortization. In addition, in 2016 the Company acquired customer relationships from its Softmart and GlobalServe acquisitions, which are amortized on a straight-line basis over their estimated useful lives of 10 years. The Company’s remaining intangible assets are amortized in proportion to the estimates of the future cash flows underlying the valuation of the assets. Intangible assets and related accumulated amortization are detailed below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ December 31, 2020 ​ Estimated Gross Accumulated Net Gross Accumulated Net ​ ​ Useful Lives ​ Amount ​ Amortization ​ Amount ​ Amount ​ Amortization ​ Amount Customer list ​ 8 ​ $ 3,400 ​ $ 3,400 ​ $ — ​ $ 3,400 ​ $ 3,400 ​ $ — ​ Tradename ​ 5 ​ 1,190 ​ 1,190 ​ — ​ 1,190 ​ 1,190 ​ — ​ Customer relationships ​ 10 ​ 12,200 ​ 6,782 ​ 5,418 ​ 12,200 ​ 5,562 ​ 6,638 ​ Total intangible assets ​ ​ ​ $ 16,790 ​ $ 11,372 ​ $ 5,418 ​ $ 16,790 ​ $ 10,152 ​ $ 6,638 ​ ​ In 2021, 2020, and 2019, the Company recorded amortization expense of $1,220, $1,220, and $1,257, respectively. The estimated amortization expense relating to intangible assets in each of the five succeeding years and thereafter is as follows: ​ ​ ​ ​ ​ ​ For the Years Ended December 31, ​ ​ 2022 ​ $ 1,220 ​ 2023 ​ 1,220 ​ 2024 ​ 1,220 ​ 2025 ​ 1,220 ​ 2026 ​ ​ 538 ​ ​ ​ $ 5,418 ​ ​ .

ACCOUNTS RECEIVABLE

ACCOUNTS RECEIVABLE	12 Months Ended
	Dec. 31, 2021
Accounts Receivable
Accounts Receivable	4. ACCOUNTS RECEIVABLE ​ Accounts receivable consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2021 2020 Trade ​ $ 568,964 ​ $ 553,823 ​ Vendor consideration, returns and other ​ 47,506 ​ 66,461 ​ Due from employees ​ 105 ​ 159 ​ Total gross accounts receivable ​ 616,575 ​ 620,443 ​ Allowances for: ​ ​ ​ ​ ​ ​ ​ Sales returns ​ (4,218) ​ (4,014) ​ Credit losses ​ (4,825) ​ (5,408) ​ Accounts receivable, net ​ $ 607,532 ​ $ 611,021 ​ ​

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	12 Months Ended
	Dec. 31, 2021
Property and Equipment
Property and Equipment	5. PROPERTY AND EQUIPMENT ​ Property and equipment consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2021 2020 Computer software, including licenses and internally-developed software ​ $ 96,264 ​ $ 100,285 ​ Furniture and equipment ​ 37,040 ​ 35,788 ​ Leasehold improvements ​ 8,668 ​ 8,683 ​ Total ​ 141,972 ​ 144,756 ​ Accumulated depreciation and amortization ​ (80,961) ​ (83,219) ​ Property and equipment, net ​ $ 61,011 ​ $ 61,537 ​ ​ We recorded depreciation and amortization expense for property and equipment of $10,982, $12,383, and $12,057 in 2021, 2020, and 2019, respectively.

LEASES

LEASES	12 Months Ended
	Dec. 31, 2021
Leases
Leases	6. LEASES ​ The Company leases certain facilities from a related party, which is affiliated with the Company through common ownership. Included in the right-of-use asset as of December 31, 2021 was $2,318 and a corresponding lease liability of $2,318 associated with related party leases. ​ As of December 31, 2021, the Company had no leases that were classified as financing leases and there were no additional operating or financing leases that have not yet commenced. Refer to the following table for quantitative information related to the Company’s leases for the year ended December 31, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2021 ​ Related Parties ​ Others ​ Total Lease Cost ​ ​ ​ Capitalized operating lease cost ​ $ 1,253 ​ $ 3,021 ​ $ 4,274 Short-term lease cost ​ 426 ​ 92 ​ 518 Total lease cost ​ $ 1,679 ​ $ 3,113 ​ $ 4,792 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other Information ​ ​ ​ Cash paid for amounts included in the measurement of lease liabilities and capitalized operating leases: ​ ​ ​ ​ ​ ​ Operating cash flows ​ $ 1,253 ​ $ 3,128 ​ $ 4,381 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted-average remaining lease term (in years): ​ ​ ​ Capitalized operating leases ​ ​ 1.92 ​ ​ 4.46 ​ ​ 3.89 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted-average discount rate: ​ ​ ​ ​ ​ ​ ​ ​ ​ Capitalized operating leases ​ ​ 3.92% ​ ​ 3.92% ​ ​ 3.92% ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2020 ​ Related Parties ​ Others ​ Total Lease Cost ​ ​ ​ Capitalized operating lease cost ​ $ 1,385 ​ $ 3,170 ​ $ 4,555 Short-term lease cost ​ 295 ​ 14 ​ 309 Total lease cost ​ $ 1,680 ​ $ 3,184 ​ $ 4,864 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other Information ​ ​ ​ Cash paid for amounts included in the measurement of lease liabilities and capitalized operating leases: ​ ​ ​ ​ ​ ​ Operating cash flows ​ $ 1,385 ​ $ 3,272 ​ $ 4,657 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted-average remaining lease term (in years): ​ ​ ​ Capitalized operating leases ​ ​ 2.92 ​ ​ 5.57 ​ ​ 4.89 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted-average discount rate: ​ ​ ​ ​ ​ ​ ​ ​ ​ Capitalized operating leases ​ ​ 3.92% ​ ​ 3.92% ​ ​ 3.92% ​ As of December 31, 2021, future lease payments over the remaining term of capitalized operating leases were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Years Ended December 31, ​ Related Parties ​ Others ​ Total 2022 ​ $ 1,253 ​ $ 2,471 ​ $ 3,724 2023 ​ 1,149 ​ 1,948 ​ 3,097 2024 ​ — ​ 1,644 ​ 1,644 2025 ​ — ​ 1,577 ​ 1,577 2026 ​ ​ — ​ ​ 888 ​ ​ 888 Thereafter ​ ​ — ​ ​ 1 ​ ​ 1 ​ ​ $ 2,402 ​ $ 8,529 ​ $ 10,931 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Imputed interest ​ ​ ​ ​ ​ ​ ​ ​ (720) Lease liability balance at December 31, 2021 ​ ​ ​ ​ ​ ​ ​ $ 10,211 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2021, the ROU asset had a balance of $9,579. The long-term lease liability was $6,789 and the short-term lease liability ​ As of December 31, 2020, the ROU asset had a balance of $12,821 The long-term lease liability was $9,631 and the short-term lease liability

ACCRUED EXPENSES AND OTHER LIAB

ACCRUED EXPENSES AND OTHER LIABILITIES	12 Months Ended
	Dec. 31, 2021
Accrued Expenses and Other Liabilities
Accrued Expenses and Other Liabilities	​ 7. ACCRUED EXPENSES AND OTHER LIABILITIES ​ Accrued expenses and other liabilities consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2021 2020 Customer and vendor deposits ​ $ 33,429 ​ $ 28,438 Sales tax ​ ​ 10,471 ​ ​ 8,400 Dividend Payable ​ — ​ 8,375 Short term lease liability ​ ​ 3,422 ​ ​ 3,928 Other ​ 14,508 ​ 8,445 Accrued expenses and other liabilities ​ $ 61,830 ​ $ 57,586 ​

GAIN OF LIFE INSURANCE

GAIN OF LIFE INSURANCE	12 Months Ended
	Dec. 31, 2021
Gain on Life Insurance
Gain on Life Insurance Proceeds	8. GAIN ON LIFE INSURANCE The Company owns and is the beneficiary of one life insurance policy on Patricia Gallup, the Company’s Chair and Chief Administrative Officer. This policy had a total cash value recorded as “Other assets” on the Company’s balance sheet of approximately $200 as of December 31, 2021 and December 31, 2020 respectively. On November 14, 2020, David Hall, one of the Company co-founders and a member of the Company’s Board of Directors passed away. The Company owned and was the beneficiary of two life insurance policies on Mr. Hall. These policies had a total cash value of approximately $400 recorded as “Other assets” on the Company’s balance sheet as of December 31, 2019. After the death of Mr. Hall, $1,500 was recorded as receivable on the Company’s balance sheet in 2020. The difference between the total insurance proceeds and the cash surrender value of the policies was $1,061, which was recorded as non-operating income for the year ended December 31, 2020. The life insurance proceeds were received in 2021, which are not subject to federal or state income taxes.

BANK BORROWINGS

BANK BORROWINGS	12 Months Ended
	Dec. 31, 2021
Bank Borrowings
Bank Borrowings	9. BANK BORROWINGS ​ The Company has a $50,000 credit facility collateralized by its account receivables that expires March 31, 2025. This facility can be increased, at the Company’s option, to $80,000 for permitted acquisitions or other uses authorized by the lender on substantially the same terms. Amounts outstanding under this facility bear interest at greatest of (i) the prime rate (3.25% at December 31, 2021), (ii) the federal funds effective rate plus 0.50% per annum and (iii) the one-month London Interbank Offered Rate (“LIBOR”), plus 1.00% per annum, provided that the rate shall at no time be less than 0% per annum. The credit facility includes various customary financial ratios and operating covenants, including minimum net worth and maximum funded debt ratio requirements, and default acceleration provisions. The credit facility does not include restrictions on future dividend payments. Funded debt ratio is the ratio of average outstanding advances under the credit facility to Adjusted Earnings Before Interest Expense, Taxes, Depreciation, Amortization, and Special Charges (Adjusted EBITDA). The maximum allowable funded debt ratio under the agreement is 2.0 to 1.0. Decreases in the Company’s consolidated Adjusted EBITDA could limit its potential borrowing capacity under the credit facility. The Company had no outstanding bank borrowings at December 31, 2021 or 2020, and accordingly, the entire $50,000 facility was available for borrowings under the credit facility. As of December 31, 2021, the Company was in compliance with all financial covenants contained in the agreement governing the credit facility. ​ In December of 2021, we entered into an amendment to our credit facility to, among other things, extend the maturity date to March 31, 2025, at which time any amounts outstanding shall become due. See “Part II – Item 9b. Other Information – Third Amendment to Third Amended and Restated Credit and Security Agreement” for additional information.

STOCKHOLDERS' EQUITY AND SHARE-

STOCKHOLDERS' EQUITY AND SHARE-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2021
Stockholders' Equity and Share-Based Compensation
Stockholders' Equity and Share-Based Compensation	10. STOCKHOLDERS’ EQUITY AND SHARE-BASED COMPENSATION ​ Preferred Stock ​ The Company’s Amended and Restated Certificate of Incorporation (the “Restated Certificate”) authorizes the issuance of up to 10,000 shares of preferred stock, $.01 par value per share (the “Preferred Stock”). Under the terms of the Restated Certificate, the Board is authorized, subject to any limitations prescribed by law, without stockholder approval, to issue by a unanimous vote such shares of Preferred Stock in one or more series. Each such series of Preferred Stock shall have such rights, preferences, privileges, and restrictions, including voting rights, dividend rights, redemption privileges, and liquidation preferences, as shall be determined by the Board. There were no preferred shares outstanding at December 31, 2021 or 2020. ​ Share Repurchase Authorization ​ As of December 31, 2017, there was $30.0 million authorized for share repurchase. In 2018, the Company’s Board approved a share repurchase program authorizing up to $25.0 million in additional share repurchases. There is no fixed termination date for this repurchase program. Purchases may be made in open-market transactions, block transactions on or off an exchange, or in privately negotiated transactions. The timing and amount of any share repurchases will be based on market conditions and other factors. ​ There was no shares repurchases during the year ended December 31, 2021. The Company repurchased 247 and 135 shares for $10.2 million and $4.5 million during the years ended December 31, 2020 and 2019, respectively, under Board-authorized repurchase programs. As of December 31, 2021, the Company has repurchased an aggregate of 2,599 shares for $42.3 million under Board-authorized repurchase programs, and the maximum approximate dollar value of shares that may yet be purchased under the Company’s existing Board-authorized program is $12.7 million. ​ Dividend Payments ​ The following table summarizes the Company’s special cash dividends declared in the years ended December 31, 2021, 2020 and 2019: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Dividend per share ​ $ 1.00 ​ $ 0.32 ​ $ 0.32 ​ Stockholder record date ​ 11/18/2021 ​ 1/12/2021 ​ 12/27/2019 ​ Total dividend ​ $ 26,224 ​ $ 8,375 ​ $ 8,427 ​ Payment date ​ ​ 12/03/2021 ​ ​ 1/29/2021 ​ 1/10/2020 ​ ​ The dividends paid in January 2020 and 2019 were included in accrued expenses and other liabilities at December 31, 2020 and 2019, respectively. Declaration of any future cash dividends will depend upon the Company’s financial position, strategic plans, and general business conditions. ​ Equity Compensation Plan Descriptions ​ In 2007, the Board adopted and the Company’s stockholders approved the 2007 Stock Incentive Plan. In 2010, the Board adopted and the stockholders approved the Amended and Restated 2007 Stock Incentive Plan (the “2007 Plan”), which, among other things, extended the term of the 2007 Plan to 2020. In May 2019, the Company’s stockholders approved an amendment to the 2007 Plan, which authorized the issuance of 1,900 shares of common stock. Under the terms of the 2007 Plan, the Company is authorized, for a ten-year period, to grant options, stock appreciation rights, nonvested stock, nonvested stock units, and other stock-based awards to employees, officers, directors, and consultants. ​ In 2020, the Board adopted and the Company’s stockholders approved the 2020 Stock Incentive Plan (the “2020 plan”), which replaces the Amended and Restated 2007 Stock Incentive Plan. The 2020 plan extended the term of the Restated 2007 plan and authorized the issuance of 350 shares of common stock plus any shares that remain available for grant under the Restated 2007 plan. As of December 31, 2021, there were 188 shares eligible for future grants under the 2020 Plan. ​ 1997 Employee Stock Purchase Plan ​ In November 1997, the Board adopted and the Company’s stockholders approved the 1997 Employee Stock Purchase Plan (the “Purchase Plan”). The Purchase Plan authorizes the issuance of common stock to participating employees. Under the Purchase Plan, as amended, employees are eligible to purchase Company stock at 95% of the purchase price as of the last business day of each six-month offering period. An aggregate of 1,203 shares of common stock has been reserved for issuance under the Purchase Plan, of which 1,200 shares have been purchased. The Purchase Plan was suspended by the Board since June, 2020. No decision has been made whether to resume the Purchase Plan as of December 31, 2021. ​ Accounting for Share-Based Compensation ​ The Company measures the grant date fair value of equity awards given to employees and recognize that cost, adjusted for forfeitures, over the period that services are performed. The Company values grants with multiple vesting periods as a single award, estimates expected forfeitures based upon historical patterns of employee turnover, and records share-based compensation as a component of SG&A expenses. ​ The following table summarizes the share-based compensation expenses included in the consolidated statements of net income (dollars in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Pre-tax expense for nonvested units ​ $ 4,231 ​ $ 2,668 ​ $ 1,863 ​ Tax benefit ​ (1,167) ​ (635) ​ (505) ​ Net effect on net income ​ $ 3,064 ​ $ 2,033 ​ $ 1,358 ​ ​ In 2021, 2020, and 2019, the Company issued nonvested stock units that settle in stock and vest over periods up to six years. Recipients of nonvested stock units do not possess stockholder rights. The fair value of nonvested stock units is based on the end of day market value of our common stock on the grant date. The following table summarizes our nonvested stock unit activity in 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nonvested Stock Units ​ ​ Weighted-Average ​ ​ ​ ​ Grant Date ​ ​ Shares Fair Value Nonvested at January 1, 2021 460 ​ $ 32.17 ​ Granted ​ 180 ​ ​ 46.02 ​ Vested (120) ​ 31.37 ​ Canceled ​ (11) ​ ​ 44.66 ​ Nonvested at December 31, 2021 509 ​ 36.98 ​ ​ The weighted-average grant-date fair value of nonvested stock units granted in 2021, 2020 and 2019 was $46.02, $44.31 and $42.06, respectively. The total fair value of nonvested stock units that vested in 2021, 2020, and 2019 was $5,529, $4,044, and $3,476, respectively. Unearned compensation cost related to the nonvested portion of outstanding nonvested stock units was $17,366 as of December 31, 2021, and is expected to be recognized over a weighted-average period of approximately 3.6 years. The aggregate intrinsic value of the nonvested stock units at December 31, 2021, which is calculated based on the positive difference between the fair value of the Company’s stock on December 31, 2021 and the grant price of the underlying awards, was $21,934. ​ Stock Equivalent Units ​ The Company has also previously issued stock equivalent units, (“SEUs”), which settle in cash and vest ratably over four years, to non-executive employees. The fair value of these liability awards is based on the closing market price of the Company’s common stock, and is remeasured at the end of each reporting period until the SEUs vest. The Company reports the compensation as a component of SG&A expense and the related liability as accrued payroll on the consolidated balance sheets. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Units issued ​ — ​ — ​ — ​ Compensation expense ​ $ 425 ​ $ 840 ​ $ 1,802 ​ ​

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2021
Income Taxes
Income Taxes	11. INCOME TAXES ​ The provision for income taxes consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Years Ended December 31, ​ 2021 2020 2019 Current: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Federal ​ $ 18,450 ​ $ 13,350 ​ $ 20,481 ​ State ​ 7,413 ​ 5,726 ​ 7,101 ​ Total current ​ 25,863 ​ 19,076 ​ 27,582 ​ Deferred: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Federal ​ 655 ​ (1,108) ​ 2,186 ​ State ​ 98 ​ (537) ​ 800 ​ Total deferred ​ 753 ​ (1,645) ​ 2,986 ​ Provision for income taxes ​ $ 26,616 ​ $ 17,431 ​ $ 30,568 ​ ​ The components of the deferred taxes at December 31, 2021 and 2020 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 Deferred tax assets: ​ ​ ​ ​ ​ ​ ​ Allowance for credit losses ​ $ 1,266 ​ $ 1,418 ​ Inventory costs capitalized for tax purposes ​ 254 ​ 165 ​ Inventory valuation reserves ​ 402 ​ 271 ​ Sales return reserves ​ 164 ​ 158 ​ Deductible expenses, primarily employee-benefit related ​ 18 ​ 661 ​ Accrued compensation ​ 2,792 ​ 3,295 ​ Operating lease liability ​ ​ 2,668 ​ ​ 3,559 ​ Other ​ 1,399 ​ 1,475 ​ Compensation under non-statutory stock option agreements ​ 866 ​ 393 ​ State tax loss carryforwards ​ 1,411 ​ 1,079 ​ Total gross deferred tax assets ​ 11,240 ​ 12,474 ​ Less: Valuation allowance ​ (1,174) ​ (942) ​ Net deferred tax assets ​ 10,066 ​ 11,532 ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred tax liabilities: ​ ​ ​ ​ ​ ​ ​ Goodwill and other intangibles ​ (14,243) ​ (13,625) ​ Property and equipment ​ ​ (12,552) ​ ​ (12,976) ​ Right-of-use assets ​ ​ (2,503) ​ ​ (3,366) ​ Prepaid expenses ​ (46) ​ (90) ​ Total gross deferred tax liabilities ​ (29,344) ​ (30,057) ​ Net deferred tax liability ​ $ (19,278) ​ $ (18,525) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current deferred tax assets ​ $ — ​ $ — ​ Noncurrent deferred tax liability ​ (19,278) ​ (18,525) ​ Net deferred tax liability ​ $ (19,278) ​ $ (18,525) ​ ​ The Company has deferred tax assets from state net operating loss carryforwards aggregating $1,786 at December 31, 2021 representing state tax benefits, net of federal taxes, of approximately $1,411. These loss carryforwards are subject to five fifteen ​ A reconciliation of the Company’s 2021, 2020, and 2019 income tax provision to total income taxes at the statutory federal tax rate is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Federal income taxes, at statutory tax rate ​ $ 20,270 ​ $ 15,378 ​ $ 23,663 ​ State income taxes, net of federal benefit ​ 5,954 ​ 3,987 ​ 6,977 ​ Nondeductible expenses ​ 645 ​ 365 ​ 651 ​ Tax credits ​ ​ — ​ ​ (2,093) ​ ​ — ​ Other, net ​ (253) ​ (206) ​ (723) ​ Income tax provision ​ $ 26,616 ​ $ 17,431 ​ $ 30,568 ​ ​ The Company files one consolidated U.S. Federal income tax return that includes all of its subsidiaries as well as several consolidated, combined, and separate Company returns in many U.S. state tax jurisdictions. The tax years 2017 2020 remain open to examination by the major state taxing jurisdictions in which the Company files. The tax years 2018-2020 ​ A reconciliation of unrecognized tax benefits for 2021, 2020, and 2019, is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Balance at January 1, ​ $ — ​ $ — ​ $ 368 ​ Additions on tax positions of prior years ​ ​ — ​ ​ — ​ ​ — ​ Lapses of applicable statute of limitations ​ ​ — ​ ​ — ​ ​ (368) ​ Settlements ​ — ​ — ​ — ​ Balance at December 31, ​ $ — ​ $ — ​ $ — ​ ​ For the year ended December 31, 2019, the unrecognized tax benefits decreased by $368 related to the expiration of various state statute of limitation periods. ​ Previously, the Company recognized interest and penalties related to unrecognized income tax benefits as a component of income tax expense, and the corresponding accrual was included as a component of our liability for unrecognized income tax benefits. The Company did not recognize any interest and penalties for the years ended December 31, 2021, 2020 or 2019.

EMPLOYEE BENEFIT PLAN

EMPLOYEE BENEFIT PLAN	12 Months Ended
	Dec. 31, 2021
Employee Benefit Plan
Employee Benefit Plan	12. EMPLOYEE BENEFIT PLAN ​ The Company has a contributory profit-sharing and employee savings plan covering all qualified employees. No contributions to the profit-sharing element of the plan were made by the Company in 2021, 2020, and 2019. The Company made matching contributions to the employee savings element of such plan of $5,951, $5,656, and $2,778 in 2021, 2020, and 2019, respectively.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2021
Commitments and Contingencies
Commitments and Contingencies	13. COMMITMENTS AND CONTINGENCIES ​ Contingencies ​ The Company is subject to various legal proceedings and claims, including patent infringement claims, which have arisen during the ordinary course of business. In the opinion of management, the outcome of such matters is not expected to have a material effect on our business, financial position, results of operations, or cash flows. ​ The Company records a liability when it believes that a loss is both probable and reasonably estimable. On a quarterly basis, the Company reviews each of these legal proceedings to determine whether it is probable, reasonably possible, or remote that a liability has been incurred and, if it is at least reasonably possible, whether a range of loss can be reasonably estimated. Significant judgment is required to determine both the likelihood of there being a loss and the estimated amount of such loss. Until the final resolution of such matters, there may be an exposure to loss in excess of the amount recorded, and such amounts could be material. The Company expenses legal fees in the period in which they are incurred. The Company is subject to audits by states on sales and income taxes, employment matters, and other assessments. Additional liabilities for these and other audits could be assessed, and such outcomes could have a material negative impact on our financial position, results of operations, and cash flows.

SEGMENT AND RELATED DISCLOSURES

SEGMENT AND RELATED DISCLOSURES	12 Months Ended
	Dec. 31, 2021
Segment and Related Disclosures
Segment and Related Disclosures	14. SEGMENT AND RELATED DISCLOSURES ​ 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. ​ The Company’s operations are organized under three reporting 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 government 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. Net sales presented below exclude inter-segment product revenues. Segment information applicable to the Company’s reportable operating segments for the years ended December 31, 2021, 2020, and 2019 is shown below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Years Ended December 31, ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Net sales: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Business Solutions ​ $ 1,098,496 ​ $ 966,032 ​ $ 1,060,049 ​ Enterprise Solutions ​ 1,249,459 ​ 1,115,569 ​ 1,193,820 ​ Public Sector Solutions ​ 544,640 ​ 508,689 ​ 566,165 ​ Total net sales ​ $ 2,892,595 ​ $ 2,590,290 ​ $ 2,820,034 ​ Operating income (loss): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Business Solutions ​ $ 43,783 ​ $ 32,351 ​ $ 52,557 ​ Enterprise Solutions ​ 74,653 ​ 59,382 ​ 67,837 ​ Public Sector Solutions ​ (4,928) ​ (2,763) ​ 7,319 ​ Headquarters/Other ​ (16,991) ​ (16,896) ​ (15,741) ​ Total operating income ​ 96,517 ​ 72,074 ​ 111,972 ​ Other (expenses) income, net ​ 5 ​ 1,122 ​ 707 ​ Income before taxes ​ $ 96,522 ​ $ 73,196 ​ $ 112,679 ​ Selected operating expense: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Depreciation and amortization: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Business Solutions ​ $ 655 ​ $ 636 ​ $ 596 ​ Enterprise Solutions ​ 2,408 ​ 2,771 ​ 2,474 ​ Public Sector Solutions ​ 62 ​ 60 ​ 89 ​ Headquarters/Other ​ 9,077 ​ 10,136 ​ 10,155 ​ Total depreciation and amortization ​ $ 12,202 ​ $ 13,603 ​ $ 13,314 ​ Total assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Business Solutions ​ $ 401,624 ​ $ 365,366 ​ ​ ​ ​ Enterprise Solutions ​ 645,938 ​ 588,264 ​ ​ ​ ​ Public Sector Solutions ​ 84,787 ​ 96,233 ​ ​ ​ ​ Headquarters/Other ​ (48,966) ​ (34,490) ​ ​ ​ ​ Total assets ​ $ 1,083,383 ​ $ 1,015,373 ​ ​ ​ ​ ​ The assets of the Company’s operating segments presented above consist primarily of accounts receivable, net intercompany receivable, goodwill, and other intangibles. Goodwill of $66,236 and $7,366 is held by the Enterprise Solutions and Business Solutions segments, respectively, as of December 31, 2021. Assets reported under the Headquarters/Other group are managed by corporate headquarters, including cash, inventory, property and equipment and intercompany balance, net. Total assets for the Headquarters/Other group are presented net of intercompany balances eliminations of $39,390 and $43,388 for the years ended December 31, 2021 and 2020, respectively. The Company’s capital expenditures consist largely of IT hardware and software purchased to maintain or upgrade its management information systems. These systems serve all of the Company’s subsidiaries, to varying degrees, and as a result, the CODM does not evaluate capital expenditures on a segment basis. Substantially all of the Company’s sales in 2021, 2020, and 2019 were made to customers located in the United States. Shipments to customers located in foreign countries were not more than 2% of total net sales in 2021, 2020, and 2019. All of the Company’s assets at December 31, 2021 and 2020 were located in the United States. The Company’s primary target customers are SMBs, medium-to-large corporate accounts, and federal, state, and local government agencies, educational institutions, and medium-to-large corporate accounts.

SCHEDULE II - VALUATION AND QUA

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS	12 Months Ended
	Dec. 31, 2021
Schedule II - Valuation and Qualifying Accounts
Schedule II-Valuation And Qualifying Accounts	SCHEDULE II—VALUATION AND QUALIFYING ACCOUNTS (amounts in thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at Charged to ​ Balance at ​ ​ Beginning ​ Costs and ​ Deductions/ ​ End of ​ ​ of Period ​ Expenses ​ Write-Offs ​ Period Description ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for Sales Returns ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2019 $ 3,397 27,943 (27,874) $ 3,466 ​ Year Ended December 31, 2020 $ 3,466 29,435 (28,887) $ 4,014 ​ Year Ended December 31, 2021 $ 4,014 32,635 (32,431) $ 4,218 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for Credit Losses ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2019 $ 3,102 25 (925) $ 2,202 ​ Year Ended December 31, 2020 $ 2,202 3,316 (110) $ 5,408 ​ Year Ended December 31, 2021 $ 5,408 3,307 (3,890) $ 4,825 ​

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2021
Basis of Presentation
Principles of Consolidation	​ Principles of Consolidation ​ The consolidated financial statements include the accounts of PC Connection, Inc. and its subsidiaries, all of which are wholly-owned. Intercompany transactions and balances are eliminated in consolidation.
Use of Estimates in the Preparation of Financial Statements	​ Use of Estimates in the Preparation of Financial Statements ​ The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts and disclosures of assets and liabilities and the reported amounts and disclosures of revenue and expenses during the period. Management bases its estimates and judgments on the information available at the time and various other assumptions believed to be reasonable under the circumstances. By nature, estimates are subject to an inherent degree of uncertainty. Actual results could differ from those estimates and assumptions.
Revenue Recognition	Revenue Recognition ​ Revenue is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration the Company expects to receive in exchange for those products or services. The Company enters into contracts that can include various combinations of products and services, which are generally capable of being distinct and accounted for as separate performance obligations. In most instances, when several performance obligations are aggregated into one single transaction, these performance obligations are fulfilled at the same point in time. The Company accounts for an arrangement when it has approval and commitment from both parties, the rights are identified, the contract has commercial substance, and collectability of consideration is probable. The Company generally obtains oral or written purchase authorizations from its customers for a specified amount of product at a specified price, which constitutes an arrangement. Revenue is recognized at the amount expected to be collected, net of any taxes collected from customers, which are subsequently remitted to governmental authorities. The Company generally invoices for its products at the time of shipping, and accordingly there is not a significant financing component included in our arrangements.
Cost of Sales and Certain Other Costs	​ Cost of Sales and Certain Other Costs ​ Cost of sales includes the invoice cost of the product, direct employee and third party cost of services, direct costs of packaging, inbound and outbound freight, and provisions for inventory obsolescence, adjusted for discounts, rebates, and other vendor allowances. ​
Cash and Cash Equivalents	Cash and Cash Equivalents ​ The Company considers all highly liquid short-term investments with original maturities of 90 days or less to be cash equivalents. The carrying value of our cash equivalents approximates fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The accounting guidance includes a fair value hierarchy that priorities the inputs to valuation techniques used to measure fair value. The three levels of the fair value hierarchy are as as follows: ​ ● Level 1 : Quoted prices for identical assets or liabilities in active markets.; ​ ● Level 2 : Observable inputs other than those described as Level 1; ​ ● Level 3 : Unobservable inputs that are supportable by little or no market activities and are based on significant assumptions and estimates.; ​ The company’s money market funds are valued at the closing price reported by the fund sponsor from an actively traded exchange. It is included as cash equivalents within the Company’s consolidated balance sheet and is categorized as a level 1 measurement. ​ The majority of payments due from credit card processors and banks for third-party credit card and debit card transactions process within one to five business days. All credit card and debit card transactions that process in less than seven days are classified as cash and cash equivalents. Amounts due from banks for credit card transactions classified as cash equivalents totaled $4,748 and $3,776 at December 31, 2021 and 2020, respectively.
Accounts Receivable	Accounts Receivable ​ Account receivable are recorded at the invoice amount, net of allowances. Customers are evaluated for their credit worthiness at the time of contract inception and, the Company performs ongoing credit evaluations of its customers and adjusts credit limits based on payment history and customer creditworthiness. Based on the results of the credit assessments, the Company will extend credit under its standard payment terms or may request alternative early payment actions. The Company determines the required allowance for expected credit losses using information such as its customer credit history and financial condition, industry and market segment information, credit reports, and economic trends and conditions. Allowances can be affected by changes in the industry, customer credit issues or customer bankruptcies or expectations of any such events in a future period when reasonable and supportable. Historical information is utilized beyond reasonable and supportable forecast periods. Amounts are charged against the allowance when it is determined that expected credit losses may occur. We assess collectability by reviewing account receivable on an aggregated basis where similar characteristics exist and on an individual basis when we identify specific customers with collectability issues, and if necessary, records a reserve against those receivables it determines may not be collectable. Trade receivables are written off in the period in which they are deemed uncollectible. Recoveries of trade receivables previously charged are recorded when received.
Inventories	Inventories ​ Inventories (all finished goods) consisting of software packages, computer systems, and peripheral equipment, are stated at cost (determined under a weighted-average cost method which approximates the first-in, first-out method) or net realizable value, whichever is lower. Inventory quantities on hand are reviewed regularly, and allowances are maintained for obsolete, slow moving, and nonsalable inventory. ​
Advertising Costs and Vendor consideration	Advertising Costs and Vendor Consideration ​ Vendors have the ability to fund advertising activities for which the Company receives advertising consideration. This vendor consideration, to the extent that it represents specific reimbursements of incremental and identifiable costs, is offset against selling, general and administrative expenses (“SG&A”) expenses. Advertising consideration that cannot be associated with a specific program or that exceeds the fair value of advertising expense associated with that program is classified as an offset to cost of sales. The Company’s vendor partners generally consolidate their funding of advertising and other marketing programs, and accordingly, the Company classifies substantially all vendor consideration as a reduction of cost of sales rather than a reduction of advertising expense. Other advertising costs are expensed as incurred. Advertising expense, which is classified as a component of SG&A expenses, totaled $15,827, $14,021, and $19,407 for the years ended December 31, 2021, 2020, and 2019, respectively.
Property and Equipment	Property and Equipment ​ Property and equipment are stated at cost, net of accumulated depreciation and amortization. The estimated useful lives of the assets range from three three ​ Costs incurred to develop internal-use software during the application development stage are recorded in property and equipment at cost. External direct costs of materials and services consumed in developing or obtaining internal-use computer software and payroll-related costs for employees developing internal-use computer software projects, to the extent of their time spent directly on the project and specific to application development, are capitalized. ​ When events or circumstances indicate a potential impairment, the Company evaluates the carrying value of property and equipment based upon current and anticipated undiscounted cash flows. The Company recognizes impairment when it is probable that such estimated future cash flows will be less than the asset carrying value. No property and equipment impairment was recognized for each of the years ended December 31, 2021, 2020 and 2019.
Leases	Leases The Company enters into operating lease contracts, as assessed at contract inception, primarily for real estate and equipment. On the lease commencement date, the Company records operating lease liabilities based on the present value of the future lease payments. In determining the present value of future lease payments, the Company utilized estimated rates that it would have incurred to borrow, over a similar term, the funds necessary to purchase the respective leased asset with cash. The Company elects to apply the short-team lease exception to any leases with contractual obligations of one year or less. These leases will not have a right-of-use (“ROU”) assets and associated lease liabilities on the balance sheet. Instead, rent will be recognized on a straight-line
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets ​ The Company’s intangible assets consist of (1) goodwill, which is not subject to amortization; (2) an internet domain name, which is an indefinite-lived intangible not subject to amortization; and (3) amortizing intangibles, which consist of customer lists, trade names, and customer relationships, which are being amortized over their useful lives. ​ Note 3 describes the annual impairment methodology that the Company uses each year in calculating the recoverability of goodwill and non-amortizing intangibles. This same impairment test is performed at other times during the course of a year should an event occur or circumstance change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. ​ Recoverability of amortizing intangible assets is assessed only when events have occurred that may give rise to impairment. When a potential impairment has been identified, forecasted undiscounted net cash flows of the operations to which the asset relates are compared to the current carrying value of the long-lived assets present in that operation. If such cash flows are less than such carrying amounts, long-lived assets including such intangibles, are written down to their respective fair values. No intangible assets impairment was recognized for each of the years ended December 31, 2021, 2020 and 2019.
Concentrations	Concentrations ​ Concentrations of credit risk with respect to trade account receivables are limited due to the large number of customers comprising the Company’s customer base. No single customer accounted for more than 4% of total net sales in 2021, 2020, and 2019. ​ Product purchases from Ingram Micro, Inc., TD Synnex Corporation, and Dell Inc. accounted for approximately 23%, 23% and 12% respectively, of our total product purchases in 2021. Product purchases from Ingram Micro, Inc., TD Synnex Corporation and HP Inc. accounted for approximately 21%, 15% and 12% respectively, of the Company’s total product purchases in 2020. Product purchases from Ingram Micro, Inc., TD Synnex Corporation and HP Inc. accounted for approximately 21%, 14% and 8% respectively, of the Company’s total product purchases in 2019. No other singular vendor supplied more than 10% of the Company’s total product purchases in 2021, 2020 and 2019. We believe that, while the Company may experience some short-term disruption if products from Ingram Micro, Inc., TD Synnex Corporation, Dell Inc., and HP Inc., or any of these vendors become unavailable to us, alternative sources for these products are available. ​ Products manufactured by HP Inc. collectively represented approximately 15% of the Company’s net sales in 2021, 18% in 2020 and 19% in 2019. In the event the Company experiences either a short-term or permanent disruption of supply of HP products, such disruption would likely have a material adverse effect on the Company’s results of operations and cash flows.
Restructuring and other charges	Restructuring and other charges ​ Restructuring and other charges are presented separately from SG&A expenses. In the years ended December 31 2020 and 2019, we undertook actions across the business to lower our cost structure and align our business in an effort to improve our ability to execute our strategy. In connection with these restructuring initiatives, we incurred restructuring and related costs of $1.0 million and $0.7 million for the years ended December 31, 2020 and 2019, respectively. There were no restructuring related costs incurred for the year ended December 31, 2021.
Earnings Per Share	Earnings Per Share ​ Basic earnings per common share is computed using the weighted average number of shares outstanding. Diluted earnings per share is computed using the weighted average number of shares outstanding adjusted for the incremental shares attributable to nonvested stock units and stock options outstanding, if dilutive. ​ The following table sets forth the computation of basic and diluted earnings per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Numerator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income ​ $ 69,906 ​ $ 55,765 ​ $ 82,111 ​ Denominator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Denominator for basic earnings per share ​ 26,196 ​ 26,157 ​ 26,335 ​ Dilutive effect of employee stock awards ​ 168 ​ 179 ​ 170 ​ Denominator for diluted earnings per share ​ 26,364 ​ 26,336 ​ 26,505 ​ Earnings per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic ​ $ 2.67 ​ $ 2.13 ​ $ 3.12 ​ Diluted ​ $ 2.65 ​ $ 2.12 ​ $ 3.10 ​ ​ For the years ended December 31, 2021, 2020, and 2019, the Company did not exclude any outstanding nonvested stock units or stock options from the computation of diluted earnings per share because including them would have had an anti-dilutive effect.
Recently Issued Financial Accounting Standards	Recently Issued Financial Accounting Standards ​ In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848) Facilitation of the Effects of Reference Rate Reform on Financial Reporting. This guidance provides temporary optional expedients and exceptions to the U.S. GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burdens of the expected market transition from the London Interbank Offered Rate (“LIBOR”) and other interbank offered rates to alternative reference rates, such as the Secured Overnight Financing Rate. This ASU is applied prospectively and becomes effective immediately upon the transition from LIBOR. The Company’s secured credit facility agreement references LIBOR, which is expected to be discontinued as a result of reference rate reform. The optional amendments are effective as of March 12, 2020 through December 31, 2022. The Company is currently evaluating the effect of the adoption of this standard on the Company, but does not believe the adoption will have a material effect on its consolidated financial statements.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2021
Basis of Presentation
Computation of basic and diluted earnings per share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Numerator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income ​ $ 69,906 ​ $ 55,765 ​ $ 82,111 ​ Denominator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Denominator for basic earnings per share ​ 26,196 ​ 26,157 ​ 26,335 ​ Dilutive effect of employee stock awards ​ 168 ​ 179 ​ 170 ​ Denominator for diluted earnings per share ​ 26,364 ​ 26,336 ​ 26,505 ​ Earnings per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic ​ $ 2.67 ​ $ 2.13 ​ $ 3.12 ​ Diluted ​ $ 2.65 ​ $ 2.12 ​ $ 3.10 ​

REVENUE (Tables)

REVENUE (Tables)	12 Months Ended
	Dec. 31, 2021
Revenue
Schedule of disaggregation of revenue from contracts with customers	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Year Ended December 31, 2021 ​ Business Solutions Enterprise Solutions Public Sector Solutions Total Notebooks/Mobility ​ $ 426,022 ​ $ 428,868 ​ $ 241,146 ​ $ 1,096,036 Desktops ​ ​ 87,822 ​ ​ 140,468 ​ ​ 45,989 ​ ​ 274,279 Software ​ ​ 120,104 ​ ​ 119,423 ​ ​ 39,611 ​ ​ 279,138 Servers/Storage ​ ​ 92,922 ​ ​ 66,027 ​ ​ 37,081 ​ ​ 196,030 Net/Com Products ​ 81,681 ​ 86,454 ​ ​ 34,336 ​ 202,471 Displays and Sound ​ ​ 99,474 ​ ​ 125,610 ​ ​ 59,153 ​ ​ 284,237 Accessories ​ 115,048 ​ 179,249 ​ ​ 44,104 ​ 338,401 Other Hardware/Services ​ 75,423 ​ 103,360 ​ ​ 43,220 ​ 222,003 Total net sales ​ $ 1,098,496 ​ $ 1,249,459 ​ $ 544,640 ​ $ 2,892,595 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Year Ended December 31, 2020 ​ Business Solutions Enterprise Solutions Public Sector Solutions Total Notebooks/Mobility ​ $ 319,046 ​ $ 303,471 ​ $ 203,090 ​ $ 825,607 Desktops ​ ​ 89,828 ​ ​ 129,011 ​ ​ 36,744 ​ ​ 255,583 Software ​ ​ 124,681 ​ ​ 115,596 ​ ​ 42,793 ​ ​ 283,070 Servers/Storage ​ 93,535 ​ ​ 76,107 ​ ​ 42,694 ​ ​ 212,336 Net/Com Products ​ 75,141 ​ 96,203 ​ ​ 47,930 ​ 219,274 Displays and Sound ​ ​ 85,769 ​ ​ 78,312 ​ ​ 51,502 ​ ​ 215,583 Accessories ​ ​ 113,402 ​ 201,562 ​ ​ 47,504 ​ 362,468 Other Hardware/Services ​ 64,630 ​ 115,307 ​ ​ 36,432 ​ 216,369 Total net sales ​ $ 966,032 ​ $ 1,115,569 ​ $ 508,689 ​ $ 2,590,290 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Year Ended December 31, 2019 ​ Business Solutions Enterprise Solutions Public Sector Solutions Total Notebooks/Mobility ​ $ 317,282 ​ $ 322,530 ​ ​ 166,132 ​ $ 805,944 Desktops ​ ​ 127,373 ​ ​ 154,602 ​ ​ 63,949 ​ ​ 345,924 Software ​ ​ 146,287 ​ ​ 133,584 ​ ​ 54,956 ​ ​ 334,827 Servers/Storage ​ 105,617 ​ ​ 72,445 ​ ​ 60,334 ​ ​ 238,396 Net/Com Products ​ 94,340 ​ 72,185 ​ ​ 52,776 ​ 219,301 Displays and Sound ​ ​ 88,667 ​ ​ 105,172 ​ ​ 56,183 ​ ​ 250,022 Accessories ​ ​ 98,890 ​ 211,772 ​ ​ 46,647 ​ 357,309 Other Hardware/Services ​ 81,593 ​ 121,530 ​ ​ 65,188 ​ 268,311 Total net sales ​ $ 1,060,049 ​ $ 1,193,820 ​ $ 566,165 ​ $ 2,820,034
Schedule of changes in contract liability balances	The following table provides information about contract liabilities from arrangements with customers as of December 31, 2021 and December 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 December 31, 2020 Contract liabilities, which are included in "Accrued expenses and other liabilities" ​ $ 8,628 ​ $ 3,509 ​ ​ Changes in the contract liability balances during the years ended December 31, 2021 and 2020 are as follows (in thousands): ​ ​ ​ ​ ​ ​ 2021 Balances at December 31, 2020 ​ $ 3,509 Cash received in advance and not recognized as revenue ​ 28,114 Amounts recognized as revenue as performance obligations satisfied ​ (22,995) Balances at December 31, 2021 ​ $ 8,628 ​ ​ ​ ​ ​ ​ 2020 Balances at December 31, 2019 ​ $ 5,942 Cash received in advance and not recognized as revenue ​ 10,800 Amounts recognized as revenue as performance obligations satisfied ​ (13,233) Balances at December 31, 2020 ​ $ 3,509

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure
Carrying Amount of Goodwill	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at December 31, 2021 SMB Large Account Public Sector Total Goodwill, gross ​ $ 8,539 ​ $ 66,236 ​ $ 7,634 ​ $ 82,409 ​ Accumulated impairment losses ​ (1,173) ​ ─ ​ (7,634) ​ (8,807) ​ Net balance ​ $ 7,366 ​ $ 66,236 ​ $ — ​ $ 73,602 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at December 31, 2020 SMB Large Account Public Sector Total Goodwill, gross ​ $ 8,539 ​ $ 66,236 ​ $ 7,634 ​ $ 82,409 ​ Accumulated impairment losses ​ (1,173) ​ ─ ​ (7,634) ​ (8,807) ​ Net balance ​ $ 7,366 ​ $ 66,236 ​ $ — ​ $ 73,602 ​
Intangible Assets and Related Accumulated Amortization	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ December 31, 2020 ​ Estimated Gross Accumulated Net Gross Accumulated Net ​ ​ Useful Lives ​ Amount ​ Amortization ​ Amount ​ Amount ​ Amortization ​ Amount Customer list ​ 8 ​ $ 3,400 ​ $ 3,400 ​ $ — ​ $ 3,400 ​ $ 3,400 ​ $ — ​ Tradename ​ 5 ​ 1,190 ​ 1,190 ​ — ​ 1,190 ​ 1,190 ​ — ​ Customer relationships ​ 10 ​ 12,200 ​ 6,782 ​ 5,418 ​ 12,200 ​ 5,562 ​ 6,638 ​ Total intangible assets ​ ​ ​ $ 16,790 ​ $ 11,372 ​ $ 5,418 ​ $ 16,790 ​ $ 10,152 ​ $ 6,638 ​
Estimated Amortization Expense	​ ​ ​ ​ ​ ​ For the Years Ended December 31, ​ ​ 2022 ​ $ 1,220 ​ 2023 ​ 1,220 ​ 2024 ​ 1,220 ​ 2025 ​ 1,220 ​ 2026 ​ ​ 538 ​ ​ ​ $ 5,418 ​

ACCOUNTS RECEIVABLE (Tables)

ACCOUNTS RECEIVABLE (Tables)	12 Months Ended
	Dec. 31, 2021
Accounts Receivable
Accounts Receivable	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2021 2020 Trade ​ $ 568,964 ​ $ 553,823 ​ Vendor consideration, returns and other ​ 47,506 ​ 66,461 ​ Due from employees ​ 105 ​ 159 ​ Total gross accounts receivable ​ 616,575 ​ 620,443 ​ Allowances for: ​ ​ ​ ​ ​ ​ ​ Sales returns ​ (4,218) ​ (4,014) ​ Credit losses ​ (4,825) ​ (5,408) ​ Accounts receivable, net ​ $ 607,532 ​ $ 611,021 ​

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2021
Property and Equipment
Property and Equipment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2021 2020 Computer software, including licenses and internally-developed software ​ $ 96,264 ​ $ 100,285 ​ Furniture and equipment ​ 37,040 ​ 35,788 ​ Leasehold improvements ​ 8,668 ​ 8,683 ​ Total ​ 141,972 ​ 144,756 ​ Accumulated depreciation and amortization ​ (80,961) ​ (83,219) ​ Property and equipment, net ​ $ 61,011 ​ $ 61,537 ​

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2021
Leases
Schedule of lease cost	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2021 ​ Related Parties ​ Others ​ Total Lease Cost ​ ​ ​ Capitalized operating lease cost ​ $ 1,253 ​ $ 3,021 ​ $ 4,274 Short-term lease cost ​ 426 ​ 92 ​ 518 Total lease cost ​ $ 1,679 ​ $ 3,113 ​ $ 4,792 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other Information ​ ​ ​ Cash paid for amounts included in the measurement of lease liabilities and capitalized operating leases: ​ ​ ​ ​ ​ ​ Operating cash flows ​ $ 1,253 ​ $ 3,128 ​ $ 4,381 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted-average remaining lease term (in years): ​ ​ ​ Capitalized operating leases ​ ​ 1.92 ​ ​ 4.46 ​ ​ 3.89 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted-average discount rate: ​ ​ ​ ​ ​ ​ ​ ​ ​ Capitalized operating leases ​ ​ 3.92% ​ ​ 3.92% ​ ​ 3.92% ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2020 ​ Related Parties ​ Others ​ Total Lease Cost ​ ​ ​ Capitalized operating lease cost ​ $ 1,385 ​ $ 3,170 ​ $ 4,555 Short-term lease cost ​ 295 ​ 14 ​ 309 Total lease cost ​ $ 1,680 ​ $ 3,184 ​ $ 4,864 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other Information ​ ​ ​ Cash paid for amounts included in the measurement of lease liabilities and capitalized operating leases: ​ ​ ​ ​ ​ ​ Operating cash flows ​ $ 1,385 ​ $ 3,272 ​ $ 4,657 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted-average remaining lease term (in years): ​ ​ ​ Capitalized operating leases ​ ​ 2.92 ​ ​ 5.57 ​ ​ 4.89 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted-average discount rate: ​ ​ ​ ​ ​ ​ ​ ​ ​ Capitalized operating leases ​ ​ 3.92% ​ ​ 3.92% ​ ​ 3.92%
Schedule of future lease payments on capitalized operating leases	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Years Ended December 31, ​ Related Parties ​ Others ​ Total 2022 ​ $ 1,253 ​ $ 2,471 ​ $ 3,724 2023 ​ 1,149 ​ 1,948 ​ 3,097 2024 ​ — ​ 1,644 ​ 1,644 2025 ​ — ​ 1,577 ​ 1,577 2026 ​ ​ — ​ ​ 888 ​ ​ 888 Thereafter ​ ​ — ​ ​ 1 ​ ​ 1 ​ ​ $ 2,402 ​ $ 8,529 ​ $ 10,931 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Imputed interest ​ ​ ​ ​ ​ ​ ​ ​ (720) Lease liability balance at December 31, 2021 ​ ​ ​ ​ ​ ​ ​ $ 10,211 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

ACCRUED EXPENSES AND OTHER LI_2

ACCRUED EXPENSES AND OTHER LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2021
Accrued Expenses and Other Liabilities
Schedule of Accrued Expenses and Other Liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2021 2020 Customer and vendor deposits ​ $ 33,429 ​ $ 28,438 Sales tax ​ ​ 10,471 ​ ​ 8,400 Dividend Payable ​ — ​ 8,375 Short term lease liability ​ ​ 3,422 ​ ​ 3,928 Other ​ 14,508 ​ 8,445 Accrued expenses and other liabilities ​ $ 61,830 ​ $ 57,586

STOCKHOLDERS' EQUITY AND SHAR_2

STOCKHOLDERS' EQUITY AND SHARE-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2021
Dividend declared	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Dividend per share ​ $ 1.00 ​ $ 0.32 ​ $ 0.32 ​ Stockholder record date ​ 11/18/2021 ​ 1/12/2021 ​ 12/27/2019 ​ Total dividend ​ $ 26,224 ​ $ 8,375 ​ $ 8,427 ​ Payment date ​ ​ 12/03/2021 ​ ​ 1/29/2021 ​ 1/10/2020 ​
Components of Share-Based Compensation Recorded as Expense	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Pre-tax expense for nonvested units ​ $ 4,231 ​ $ 2,668 ​ $ 1,863 ​ Tax benefit ​ (1,167) ​ (635) ​ (505) ​ Net effect on net income ​ $ 3,064 ​ $ 2,033 ​ $ 1,358 ​
Nonvested Stock Unit Activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nonvested Stock Units ​ ​ Weighted-Average ​ ​ ​ ​ Grant Date ​ ​ Shares Fair Value Nonvested at January 1, 2021 460 ​ $ 32.17 ​ Granted ​ 180 ​ ​ 46.02 ​ Vested (120) ​ 31.37 ​ Canceled ​ (11) ​ ​ 44.66 ​ Nonvested at December 31, 2021 509 ​ 36.98 ​
Phantom Share Units (PSUs)
Stock Equivalent Units	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Units issued ​ — ​ — ​ — ​ Compensation expense ​ $ 425 ​ $ 840 ​ $ 1,802 ​

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2021
Income Taxes
Provision for Income Taxes	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Years Ended December 31, ​ 2021 2020 2019 Current: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Federal ​ $ 18,450 ​ $ 13,350 ​ $ 20,481 ​ State ​ 7,413 ​ 5,726 ​ 7,101 ​ Total current ​ 25,863 ​ 19,076 ​ 27,582 ​ Deferred: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Federal ​ 655 ​ (1,108) ​ 2,186 ​ State ​ 98 ​ (537) ​ 800 ​ Total deferred ​ 753 ​ (1,645) ​ 2,986 ​ Provision for income taxes ​ $ 26,616 ​ $ 17,431 ​ $ 30,568 ​
Components of Deferred Taxes	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 Deferred tax assets: ​ ​ ​ ​ ​ ​ ​ Allowance for credit losses ​ $ 1,266 ​ $ 1,418 ​ Inventory costs capitalized for tax purposes ​ 254 ​ 165 ​ Inventory valuation reserves ​ 402 ​ 271 ​ Sales return reserves ​ 164 ​ 158 ​ Deductible expenses, primarily employee-benefit related ​ 18 ​ 661 ​ Accrued compensation ​ 2,792 ​ 3,295 ​ Operating lease liability ​ ​ 2,668 ​ ​ 3,559 ​ Other ​ 1,399 ​ 1,475 ​ Compensation under non-statutory stock option agreements ​ 866 ​ 393 ​ State tax loss carryforwards ​ 1,411 ​ 1,079 ​ Total gross deferred tax assets ​ 11,240 ​ 12,474 ​ Less: Valuation allowance ​ (1,174) ​ (942) ​ Net deferred tax assets ​ 10,066 ​ 11,532 ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred tax liabilities: ​ ​ ​ ​ ​ ​ ​ Goodwill and other intangibles ​ (14,243) ​ (13,625) ​ Property and equipment ​ ​ (12,552) ​ ​ (12,976) ​ Right-of-use assets ​ ​ (2,503) ​ ​ (3,366) ​ Prepaid expenses ​ (46) ​ (90) ​ Total gross deferred tax liabilities ​ (29,344) ​ (30,057) ​ Net deferred tax liability ​ $ (19,278) ​ $ (18,525) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Current deferred tax assets ​ $ — ​ $ — ​ Noncurrent deferred tax liability ​ (19,278) ​ (18,525) ​ Net deferred tax liability ​ $ (19,278) ​ $ (18,525) ​
Reconciliation of Income Tax Provision to Total Income Taxes at Statutory Federal Tax Rate	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Federal income taxes, at statutory tax rate ​ $ 20,270 ​ $ 15,378 ​ $ 23,663 ​ State income taxes, net of federal benefit ​ 5,954 ​ 3,987 ​ 6,977 ​ Nondeductible expenses ​ 645 ​ 365 ​ 651 ​ Tax credits ​ ​ — ​ ​ (2,093) ​ ​ — ​ Other, net ​ (253) ​ (206) ​ (723) ​ Income tax provision ​ $ 26,616 ​ $ 17,431 ​ $ 30,568 ​
Reconciliation of Unrecognized Tax Benefits	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Balance at January 1, ​ $ — ​ $ — ​ $ 368 ​ Additions on tax positions of prior years ​ ​ — ​ ​ — ​ ​ — ​ Lapses of applicable statute of limitations ​ ​ — ​ ​ — ​ ​ (368) ​ Settlements ​ — ​ — ​ — ​ Balance at December 31, ​ $ — ​ $ — ​ $ — ​

SEGMENT AND RELATED DISCLOSUR_2

SEGMENT AND RELATED DISCLOSURES (Tables)	12 Months Ended
	Dec. 31, 2021
Segment and Related Disclosures
Segment information applicable to reportable operating segments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Years Ended December 31, ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2021 2020 2019 Net sales: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Business Solutions ​ $ 1,098,496 ​ $ 966,032 ​ $ 1,060,049 ​ Enterprise Solutions ​ 1,249,459 ​ 1,115,569 ​ 1,193,820 ​ Public Sector Solutions ​ 544,640 ​ 508,689 ​ 566,165 ​ Total net sales ​ $ 2,892,595 ​ $ 2,590,290 ​ $ 2,820,034 ​ Operating income (loss): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Business Solutions ​ $ 43,783 ​ $ 32,351 ​ $ 52,557 ​ Enterprise Solutions ​ 74,653 ​ 59,382 ​ 67,837 ​ Public Sector Solutions ​ (4,928) ​ (2,763) ​ 7,319 ​ Headquarters/Other ​ (16,991) ​ (16,896) ​ (15,741) ​ Total operating income ​ 96,517 ​ 72,074 ​ 111,972 ​ Other (expenses) income, net ​ 5 ​ 1,122 ​ 707 ​ Income before taxes ​ $ 96,522 ​ $ 73,196 ​ $ 112,679 ​ Selected operating expense: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Depreciation and amortization: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Business Solutions ​ $ 655 ​ $ 636 ​ $ 596 ​ Enterprise Solutions ​ 2,408 ​ 2,771 ​ 2,474 ​ Public Sector Solutions ​ 62 ​ 60 ​ 89 ​ Headquarters/Other ​ 9,077 ​ 10,136 ​ 10,155 ​ Total depreciation and amortization ​ $ 12,202 ​ $ 13,603 ​ $ 13,314 ​ Total assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Business Solutions ​ $ 401,624 ​ $ 365,366 ​ ​ ​ ​ Enterprise Solutions ​ 645,938 ​ 588,264 ​ ​ ​ ​ Public Sector Solutions ​ 84,787 ​ 96,233 ​ ​ ​ ​ Headquarters/Other ​ (48,966) ​ (34,490) ​ ​ ​ ​ Total assets ​ $ 1,083,383 ​ $ 1,015,373 ​ ​ ​ ​

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)segment	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Number of operating segments | segment	3
Amounts due from banks for credit card transactions, classified as cash equivalents	$ 4,748	$ 3,776
Impairment of property and equipment	0	0	$ 0
Impairment of intangible assets	$ 0	0	0
Minimum
Property and equipment, estimated useful lives	3 years
Maximum
Property and equipment, estimated useful lives	7 years
Computer software | Minimum
Estimated useful lives	3 years
Computer software | Maximum
Estimated useful lives	10 years
Selling, General and Administrative Expenses
Advertising expense	$ 15,827	$ 14,021	$ 19,407

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Concentration Risk (Details) - Net Sales	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Customer | Single Customer | Maximum
Concentration risk
Percentage of total net sales	4.00%	4.00%	4.00%
Supplier | Ingram Micro Inc.
Concentration risk
Percentage of product purchases	23.00%	21.00%	21.00%
Supplier | TD Synnex Corporation
Concentration risk
Percentage of product purchases	23.00%	15.00%	14.00%
Supplier | HP, Inc.
Concentration risk
Percentage of product purchases	12.00%	12.00%	8.00%
Products manufactured by HP as a percentage of net sales	15.00%	18.00%	19.00%

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Restructuring and Other Charges (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Basis of Presentation
Restructuring and other charges	$ 0	$ 992	$ 703

SUMMARY OF SIGNIFICANT ACCOUN_7

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Numerator:
Net income	$ 69,906	$ 55,765	$ 82,111
Denominator:
Denominator for basic earnings per share	26,196	26,157	26,335
Dilutive effect of employee stock awards	168	179	170
Denominator for diluted earnings per share	26,364	26,336	26,505
Earnings per share:
Basic	$ 2.67	$ 2.13	$ 3.12
Diluted	$ 2.65	$ 2.12	$ 3.10
Additional Disclosure
Employee stock awards excluded from computation of diluted earnings per share	$ 0	$ 0	$ 0

SUMMARY OF SIGNIFICANT ACCOUN_8

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Other Income (Expense) (Details) - David Hall, Co-founder and Director $ in Thousands	Nov. 14, 2020item	Dec. 31, 2020USD ($)
Other income (expense), net
Gain recognized on life insurance settlement | $		$ 1,061
Number of Company co-founders who passed away during the period | item	1

REVENUE - Disaggregation of Rev

REVENUE - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disaggregation of revenue
Net sales	$ 2,892,595	$ 2,590,290	$ 2,820,034
Notebooks/Mobility
Disaggregation of revenue
Net sales	1,096,036	825,607	805,944
Desktops
Disaggregation of revenue
Net sales	274,279	255,583	345,924
Software
Disaggregation of revenue
Net sales	279,138	283,070	334,827
Servers/Storage
Disaggregation of revenue
Net sales	196,030	212,336	238,396
Net/Com Products
Disaggregation of revenue
Net sales	202,471	219,274	219,301
Displays and Sound
Disaggregation of revenue
Net sales	284,237	215,583	250,022
Accessories
Disaggregation of revenue
Net sales	338,401	362,468	357,309
Other Hardware/Services
Disaggregation of revenue
Net sales	222,003	216,369	268,311
Business Solutions
Disaggregation of revenue
Net sales	1,098,496	966,032	1,060,049
Business Solutions | Notebooks/Mobility
Disaggregation of revenue
Net sales	426,022	319,046	317,282
Business Solutions | Desktops
Disaggregation of revenue
Net sales	87,822	89,828	127,373
Business Solutions | Software
Disaggregation of revenue
Net sales	120,104	124,681	146,287
Business Solutions | Servers/Storage
Disaggregation of revenue
Net sales	92,922	93,535	105,617
Business Solutions | Net/Com Products
Disaggregation of revenue
Net sales	81,681	75,141	94,340
Business Solutions | Displays and Sound
Disaggregation of revenue
Net sales	99,474	85,769	88,667
Business Solutions | Accessories
Disaggregation of revenue
Net sales	115,048	113,402	98,890
Business Solutions | Other Hardware/Services
Disaggregation of revenue
Net sales	75,423	64,630	81,593
Enterprise Solutions
Disaggregation of revenue
Net sales	1,249,459	1,115,569	1,193,820
Enterprise Solutions | Notebooks/Mobility
Disaggregation of revenue
Net sales	428,868	303,471	322,530
Enterprise Solutions | Desktops
Disaggregation of revenue
Net sales	140,468	129,011	154,602
Enterprise Solutions | Software
Disaggregation of revenue
Net sales	119,423	115,596	133,584
Enterprise Solutions | Servers/Storage
Disaggregation of revenue
Net sales	66,027	76,107	72,445
Enterprise Solutions | Net/Com Products
Disaggregation of revenue
Net sales	86,454	96,203	72,185
Enterprise Solutions | Displays and Sound
Disaggregation of revenue
Net sales	125,610	78,312	105,172
Enterprise Solutions | Accessories
Disaggregation of revenue
Net sales	179,249	201,562	211,772
Enterprise Solutions | Other Hardware/Services
Disaggregation of revenue
Net sales	103,360	115,307	121,530
Public Sector Solutions
Disaggregation of revenue
Net sales	544,640	508,689	566,165
Public Sector Solutions | Notebooks/Mobility
Disaggregation of revenue
Net sales	241,146	203,090	166,132
Public Sector Solutions | Desktops
Disaggregation of revenue
Net sales	45,989	36,744	63,949
Public Sector Solutions | Software
Disaggregation of revenue
Net sales	39,611	42,793	54,956
Public Sector Solutions | Servers/Storage
Disaggregation of revenue
Net sales	37,081	42,694	60,334
Public Sector Solutions | Net/Com Products
Disaggregation of revenue
Net sales	34,336	47,930	52,776
Public Sector Solutions | Displays and Sound
Disaggregation of revenue
Net sales	59,153	51,502	56,183
Public Sector Solutions | Accessories
Disaggregation of revenue
Net sales	44,104	47,504	46,647
Public Sector Solutions | Other Hardware/Services
Disaggregation of revenue
Net sales	$ 43,220	$ 36,432	$ 65,188

REVENUE - Contract Balances (De

REVENUE - Contract Balances (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Change in contract liability
Beginning balance - Contract liability	$ 3,509	$ 5,942
Cash received in advance and not recognized as revenue	28,114	10,800
Amounts recognized as revenue as performance obligations satisfied	(22,995)	(13,233)
Ending balance - Contract liability	8,628	3,509
Accrued expenses and other liabilities
Contract liabilities
Contract liabilities	$ 8,628	$ 3,509

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS - Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Goodwill
Goodwill, gross	$ 82,409	$ 82,409
Accumulated impairment losses	(8,807)	(8,807)
Net balance	73,602	73,602
Business Solutions
Goodwill
Goodwill, gross	8,539	8,539
Accumulated impairment losses	(1,173)	(1,173)
Net balance	7,366	7,366
Enterprise Solutions
Goodwill
Goodwill, gross	66,236	66,236
Net balance	66,236	66,236
Public Sector Segment
Goodwill
Goodwill, gross	7,634	7,634
Accumulated impairment losses	$ (7,634)	$ (7,634)

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLE ASSETS - Amortizable Intangible Assets and Related Accumulated Amortization (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2016
Intangible Assets
Indefinite-lived intangible assets	$ 450
Gross Amount	16,790	$ 16,790
Accumulated Amortization	11,372	10,152
Net Amount	5,418	6,638
Amortization expense	$ 1,220	1,220	$ 1,257
Customer List
Intangible Assets
Estimated useful lives	8 years
Gross Amount	$ 3,400	3,400
Accumulated Amortization	$ 3,400	3,400
Tradename
Intangible Assets
Estimated useful lives	5 years
Gross Amount	$ 1,190	1,190
Accumulated Amortization	$ 1,190	1,190
Customer relationships
Intangible Assets
Acquired estimated useful lives				10 years
Estimated useful lives	10 years
Gross Amount	$ 12,200	12,200
Accumulated Amortization	6,782	5,562
Net Amount	$ 5,418	$ 6,638

GOODWILL AND OTHER INTANGIBLE_5

GOODWILL AND OTHER INTANGIBLE ASSETS - Estimated Amortization Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure
2022	$ 1,220
2023	1,220
2024	1,220
2025	1,220
2026	538
Net Amount	$ 5,418	$ 6,638

ACCOUNTS RECEIVABLE (Details)

ACCOUNTS RECEIVABLE (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Basis of Presentation
Trade	$ 568,964	$ 553,823
Vendor consideration, returns and other	47,506	66,461
Due from employees	105	159
Total gross accounts receivable	616,575	620,443
Sales returns	(4,218)	(4,014)
Credit losses	(4,825)	(5,408)
Accounts receivable, net	$ 607,532	$ 611,021

PROPERTY AND EQUIPMENT - Summar

PROPERTY AND EQUIPMENT - Summary (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Property and Equipment
Computer software, including licenses and internally-developed software	$ 96,264	$ 100,285
Furniture and equipment	37,040	35,788
Leasehold improvements	8,668	8,683
Total	141,972	144,756
Accumulated depreciation and amortization	(80,961)	(83,219)
Property and equipment, net	$ 61,011	$ 61,537

PROPERTY AND EQUIPMENT - Deprec

PROPERTY AND EQUIPMENT - Depreciation and Amortization Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property and Equipment
Depreciation and amortization	$ 10,982	$ 12,383	$ 12,057

LEASES - Lease Cost and Other I

LEASES - Lease Cost and Other Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)lease	Dec. 31, 2020USD ($)
Leases
Right-of-use assets	$ 9,579	$ 12,821
Lease liability	$ 10,211
Number of financing leases | lease	0
Number of additional operating or financing leases not yet commenced | lease	0
Lease Cost
Capitalized operating lease cost	$ 4,274	4,555
Short-term lease cost	518	309
Total lease cost	4,792	4,864
Cash paid for amounts included in the measurement of lease liabilities and capitalized operating leases:
Operating cash flows	$ 4,381	$ 4,657
Weighted-average remaining lease term - Capitalized operating leases (in years)	3 years 10 months 20 days	4 years 10 months 20 days
Weighted-average discount rate - Capitalized operating leases	3.92%	3.92%
Related Parties
Leases
Right-of-use assets	$ 2,318
Lease liability	2,318
Lease Cost
Capitalized operating lease cost	1,253	$ 1,385
Short-term lease cost	426	295
Total lease cost	1,679	1,680
Cash paid for amounts included in the measurement of lease liabilities and capitalized operating leases:
Operating cash flows	$ 1,253	$ 1,385
Weighted-average remaining lease term - Capitalized operating leases (in years)	1 year 11 months 1 day	2 years 11 months 1 day
Weighted-average discount rate - Capitalized operating leases	3.92%	3.92%
Others
Lease Cost
Capitalized operating lease cost	$ 3,021	$ 3,170
Short-term lease cost	92	14
Total lease cost	3,113	3,184
Cash paid for amounts included in the measurement of lease liabilities and capitalized operating leases:
Operating cash flows	$ 3,128	$ 3,272
Weighted-average remaining lease term - Capitalized operating leases (in years)	4 years 5 months 15 days	5 years 6 months 25 days
Weighted-average discount rate - Capitalized operating leases	3.92%	3.92%

LEASES - Future Lease Payments

LEASES - Future Lease Payments (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Future lease payments over the remaining term of capitalized operating leases
2022	$ 3,724
2023	3,097
2024	1,644
2025	1,577
2026	888
Thereafter	1
Total	10,931
Imputed interest	(720)
Lease liability balance	10,211
Right-of-use assets	9,579	$ 12,821
Long-term lease liability	6,789	9,631
Short-term lease liability	$ 3,422	$ 3,928
Current operating lease liability, Statement of Financial Position	Accrued expenses and other liabilities	Accrued expenses and other liabilities
Related Parties
Future lease payments over the remaining term of capitalized operating leases
2022	$ 1,253
2023	1,149
Total	2,402
Lease liability balance	2,318
Right-of-use assets	2,318
Others
Future lease payments over the remaining term of capitalized operating leases
2022	2,471
2023	1,948
2024	1,644
2025	1,577
2026	888
Thereafter	1
Total	$ 8,529

ACCRUED EXPENSES AND OTHER LI_3

ACCRUED EXPENSES AND OTHER LIABILITIES (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Accrued Expenses and Other Liabilities
Customer and vendor deposits	$ 33,429	$ 28,438
Sales taxes	10,471	8,400
Dividends payable		8,375
Short-term lease liability	3,422	3,928
Other	14,508	8,445
Accrued expenses and other liabilities	$ 61,830	$ 57,586

GAIN OF LIFE INSURANCE (Details

GAIN OF LIFE INSURANCE (Details) $ in Thousands	Nov. 14, 2020item	Dec. 31, 2021USD ($)item	Dec. 31, 2020USD ($)item	Dec. 31, 2019USD ($)
David Hall, Co-founder and Director
Number of Company co-founders who passed away during the period | item	1
Number of company-owned life insurance policies | item			2
Receivable for life insurance settlement proceeds due			$ 1,500
Gain recognized on life insurance settlement			1,061
David Hall, Co-founder and Director | Other assets
Cash surrender value of life insurance				$ 400
Patricia Gallup, Chairman of the Board and CAO
Number of company-owned life insurance policies | item		1
Patricia Gallup, Chairman of the Board and CAO | Other assets
Cash surrender value of life insurance		$ 200	$ 200

BANK BORROWINGS (Details)

BANK BORROWINGS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Subordinated Borrowing
Line of credit, borrowing capacity	$ 50,000
Credit facility, expiration date	Mar. 31, 2025
Line of credit, maximum borrowing capacity	$ 80,000
Line of credit, outstanding borrowing	0	$ 0
Line of credit, available for borrowing	$ 50,000	$ 50,000
Maximum
Subordinated Borrowing
Debt ratio	2
Prime Rate
Subordinated Borrowing
Debt instrument, interest rate	3.25%
One-month LIBOR rate
Subordinated Borrowing
Debt instrument, variable rate spread	1.00%
Fed Funds Rate
Subordinated Borrowing
Debt instrument, variable rate spread	0.50%
Alternate Base Rate | Minimum
Subordinated Borrowing
Debt instrument, interest rate	0.00%

STOCKHOLDERS' EQUITY AND SHAR_3

STOCKHOLDERS' EQUITY AND SHARE-BASED COMPENSATION - Narrative (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	May 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Stockholders' equity and share-based compensation
Preferred Stock, shares authorized	10,000	10,000
Preferred Stock, par value	$ 0.01	$ 0.01
Preferred Stock, shares outstanding	0	0
Repurchase of common stock, authorized amount						$ 30,000
Shares repurchased, value		$ 10,222	$ 4,478
Aggregate shares repurchased	2,773	2,773
2007 Stock Incentive Plan
Stockholders' equity and share-based compensation
Term of approved stock-based compensation plan	10 years
Shares authorized for issuance under stock incentive plan				1,900
Shares available for future grant	188
2020 Stock Incentive Plan
Stockholders' equity and share-based compensation
Shares authorized for issuance under stock incentive plan		350
1997 Employee Stock Purchase Plan
Stockholders' equity and share-based compensation
Purchase price under employee stock purchase plan as a percentage of price as of the last day of each six month offering period	95.00%
Common stock reserved for issuance		1,203
Share purchased under employee stock purchase plan		1,200
Nonvested Stock Units
Stockholders' equity and share-based compensation
Granted	180
Weighted-average grant-date fair values of nonvested stock awards granted	$ 46.02	$ 44.31	$ 42.06
Total fair values of nonvested stock awards that vested	$ 5,529	$ 4,044	$ 3,476
Unearned compensation cost	$ 17,366
Unrecognized compensation costs, weighted average period of recognition	3 years 7 months 6 days
Aggregate intrinsic value	$ 21,934
Phantom Share Units (PSUs)
Stockholders' equity and share-based compensation
Vesting period	4 years
Share repurchase programs, aggregate
Stockholders' equity and share-based compensation
Number of share repurchased	0	247	135
Shares repurchased, value		$ 10,200	$ 4,500
Aggregate shares repurchased	2,599
Aggregate number of shares repurchased	$ 42,300
Maximum | Nonvested Stock Units
Stockholders' equity and share-based compensation
Vesting period	6 years	6 years	6 years
Maximum | Share repurchase programs, aggregate
Stockholders' equity and share-based compensation
Approximate dollar value of shares that may yet be purchased	$ 12,700
Maximum | Share repurchase program 2018
Stockholders' equity and share-based compensation
Repurchase of common stock, authorized amount					$ 25,000

STOCKHOLDERS' EQUITY AND SHAR_4

STOCKHOLDERS' EQUITY AND SHARE-BASED COMPENSATION - Dividend Payments (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Earnings Per Share
Dividend per share	$ 1	$ 0.32	$ 0.32
Stockholder record date	Nov. 18, 2021	Jan. 12, 2021	Dec. 27, 2019
Total dividend	$ 26,224	$ 8,375	$ 8,427
Payment date	Dec. 3, 2021	Jan. 29, 2021	Jan. 10, 2020

STOCKHOLDERS' EQUITY AND SHAR_5

STOCKHOLDERS' EQUITY AND SHARE-BASED COMPENSATION - Components of Share-Based Compensation Recorded as Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Stockholders' equity and share-based compensation
Tax benefit	$ (1,167)	$ (635)	$ (505)
Net effect on net income	3,064	2,033	1,358
Nonvested shares/units
Stockholders' equity and share-based compensation
Pre-tax expense for nonvested units	$ 4,231	$ 2,668	$ 1,863

STOCKHOLDERS' EQUITY AND SHAR_6

STOCKHOLDERS' EQUITY AND SHARE-BASED COMPENSATION - Nonvested Stock Award and Unit Activity (Details) - Nonvested Stock Units - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Shares
Nonvested shares beginning balance	460
Granted	180
Vested	(120)
Canceled	(11)
Nonvested shares ending balance	509	460
Weighted-Average Grant Date Fair Value
Nonvested shares beginning balance	$ 32.17
Granted	46.02	$ 44.31	$ 42.06
Vested	31.37
Canceled	44.66
Nonvested shares ending balance	$ 36.98	$ 32.17

STOCKHOLDERS' EQUITY AND SHAR_7

STOCKHOLDERS' EQUITY AND SHARE-BASED COMPENSATION - Stock Equivalent Units (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Phantom Share Units (PSUs)
Stockholders' equity and share-based compensation
Compensation expense	$ 425	$ 840	$ 1,802

INCOME TAXES - Provision for In

INCOME TAXES - Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Current:
Federal	$ 18,450	$ 13,350	$ 20,481
State	7,413	5,726	7,101
Total current	25,863	19,076	27,582
Deferred:
Federal	655	(1,108)	2,186
State	98	(537)	800
Total deferred	753	(1,645)	2,986
Income tax provision	$ 26,616	$ 17,431	$ 30,568

INCOME TAXES - Components of De

INCOME TAXES - Components of Deferred Taxes (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets:
Allowance for credit losses	$ 1,266	$ 1,418
Inventory costs capitalized for tax purposes	254	165
Inventory valuation reserves	402	271
Sales return reserves	164	158
Deductible expenses, primarily employee-benefit related	18	661
Accrued compensation	2,792	3,295
Operating lease liability	2,668	3,559
Other	1,399	1,475
Compensation under non-statutory stock option agreements	866	393
State tax loss carryforwards	1,411	1,079
Total gross deferred tax assets	11,240	12,474
Less: Valuation allowance	(1,174)	(942)
Net deferred tax assets	10,066	11,532
Deferred tax liabilities:
Goodwill and other intangibles	(14,243)	(13,625)
Property and equipment	(12,552)	(12,976)
Right-of-use assets	(2,503)	(3,366)
Prepaid expenses	(46)	(90)
Total gross deferred tax liabilities.	(29,344)	(30,057)
Net deferred tax liability	(19,278)	(18,525)
Noncurrent deferred tax liability	(19,278)	(18,525)
Net deferred tax liability	$ (19,278)	$ (18,525)

INCOME TAXES - Additional Infor

INCOME TAXES - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax
State net operating loss carryforwards	$ 1,786
Operating loss carryforwards, state tax benefits net of federal taxes	1,411	$ 1,079
State tax credit and state tax loss carryforwards, valuation allowance	1,174	942
Net change in the valuation allowance related to utilization and expiration of tax carryforwards	232	(50)
Unrecognized income tax benefits, interest and penalties recognized	$ 0	$ 0	$ 0
State Jurisdiction
Income Tax
Tax years remain open to examination	2017 2018 2019 2020
Internal Revenue Service (IRS)
Income Tax
Tax years remain open to examination	2018 2019 2020
Expire after 2022
Income Tax
State net operating loss carryforwards	$ 3
Expire after 2023
Income Tax
State net operating loss carryforwards	3
Expire after 2024
Income Tax
State net operating loss carryforwards	4
Expire after 2025
Income Tax
State net operating loss carryforwards	4
Expire after 2026
Income Tax
State net operating loss carryforwards	3
Expire beyond 2026
Income Tax
State net operating loss carryforwards	1,516
No Expiration
Income Tax
State net operating loss carryforwards	$ 253
Period 1
Income Tax
State net operating loss carryforwards, expiration period	5 years
Period 2
Income Tax
State net operating loss carryforwards, expiration period	15 years
Period 3
Income Tax
State net operating loss carryforwards, expiration period	20 years

INCOME TAXES - Reconciliation o

INCOME TAXES - Reconciliation of Income Tax Provision To Total Income Taxes At Statutory Federal Tax Rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Taxes
Federal income taxes, at statutory tax rate	$ 20,270	$ 15,378	$ 23,663
State income taxes, net of federal benefit	5,954	3,987	6,977
Nondeductible expenses	645	365	651
Tax credits		(2,093)
Other, net	(253)	(206)	(723)
Income tax provision	$ 26,616	$ 17,431	$ 30,568

INCOME TAXES - Reconciliation_2

INCOME TAXES - Reconciliation Of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Unrecognized tax benefits
Beginning balance			$ 368
Lapses of applicable statute of limitations			$ (368)

EMPLOYEE BENEFIT PLAN (Details)

EMPLOYEE BENEFIT PLAN (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Compensation and Retirement
Employer matching contributions to employee savings	$ 5,951	$ 5,656	$ 2,778
Employer matching contributions to employee profit sharing plan	$ 0	$ 0	$ 0

SEGMENT AND RELATED DISCLOSUR_3

SEGMENT AND RELATED DISCLOSURES - Segment Information Applicable to Reportable Operating Segments (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)segment	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Segment Reporting Information
Number of reportable segments | segment	3
Number of operating segments | segment	3
Net sales:
Net sales	$ 2,892,595	$ 2,590,290	$ 2,820,034
Operating income (loss):
Operating income (loss)	96,517	72,074	111,972
Other income, net	5	1,122	707
Income before taxes	96,522	73,196	112,679
Depreciation and amortization:
Depreciation and amortization	12,202	13,603	13,314
Total assets:
Total assets	1,083,383	1,015,373
Goodwill	73,602	73,602
Business Solutions
Net sales:
Net sales	1,098,496	966,032	1,060,049
Total assets:
Goodwill	7,366	7,366
Enterprise Solutions
Net sales:
Net sales	1,249,459	1,115,569	1,193,820
Total assets:
Goodwill	66,236	66,236
Public Sector Solutions
Net sales:
Net sales	544,640	508,689	566,165
Operating Segments | Business Solutions
Net sales:
Net sales	1,098,496	966,032	1,060,049
Operating income (loss):
Operating income (loss)	43,783	32,351	52,557
Depreciation and amortization:
Depreciation and amortization	655	636	596
Total assets:
Total assets	401,624	365,366
Goodwill	7,366
Operating Segments | Enterprise Solutions
Net sales:
Net sales	1,249,459	1,115,569	1,193,820
Operating income (loss):
Operating income (loss)	74,653	59,382	67,837
Depreciation and amortization:
Depreciation and amortization	2,408	2,771	2,474
Total assets:
Total assets	645,938	588,264
Goodwill	66,236
Operating Segments | Public Sector Solutions
Net sales:
Net sales	544,640	508,689	566,165
Operating income (loss):
Operating income (loss)	(4,928)	(2,763)	7,319
Depreciation and amortization:
Depreciation and amortization	62	60	89
Total assets:
Total assets	84,787	96,233
Headquarters/Other
Operating income (loss):
Operating income (loss)	(16,991)	(16,896)	(15,741)
Depreciation and amortization:
Depreciation and amortization	9,077	10,136	$ 10,155
Total assets:
Assets net of intercompany balance eliminations	(48,966)	(34,490)
Intersegment Elimination
Total assets:
Total assets	$ (39,390)	$ (43,388)

SEGMENT AND RELATED DISCLOSUR_4

SEGMENT AND RELATED DISCLOSURES - Concentration Risk (Details) - Net Sales - Maximum	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Geographic Concentration Risk | Foreign
Segment Reporting Information
Percentage of sales by segment	2.00%	2.00%	2.00%
Customer | Single Customer
Segment Reporting Information
Percentage of sales by segment	4.00%	4.00%	4.00%

SCHEDULE II - VALUATION AND Q_2

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Valuation and Qualifying Accounts
Beginning Balance	$ 4,014
Ending Balance	4,218	$ 4,014
Allowance for Sales Returns
Valuation and Qualifying Accounts
Beginning Balance	4,014	3,466	$ 3,397
Charged to Costs and Expenses	32,635	29,435	27,943
Deductions/Write-Offs	(32,431)	(28,887)	(27,874)
Ending Balance	4,218	4,014	3,466
Allowance for Doubtful Accounts
Valuation and Qualifying Accounts
Beginning Balance	5,408	2,202	3,102
Charged to Costs and Expenses	3,307	3,316	25
Deductions/Write-Offs	(3,890)	(110)	(925)
Ending Balance	$ 4,825	$ 5,408	$ 2,202