Arrow Electronics (ARW) 10-K 13 Feb 24 2023 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2023	Feb. 06, 2024	Jul. 01, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Document Transition Report	false
Entity File Number	1-4482
Entity Registrant Name	ARROW ELECTRONICS, INC.
Entity Incorporation, State or Country Code	NY
Entity Tax Identification Number	11-1806155
Entity Address, Address Line One	9201 East Dry Creek Road
Entity Address, City or Town	Centennial
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80112
City Area Code	303
Local Phone Number	824-4000
Title of 12(b) Security	Common Stock, $1 par value
Trading Symbol	ARW
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document financial statement error correction	false
Entity Shell Company	false
Entity Public Float			$ 7,954,359,469
Entity Common Stock, Shares Outstanding		53,813,931
Entity Central Index Key	0000007536
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false
Documents Incorporated by Reference	The definitive proxy statement related to the registrant’s 2024 Annual Meeting of Shareholders, is incorporated by reference in Part III to the extent described therein. The definitive proxy statement will be filed with the U.S. Securities and Exchange Commission within 120 days after the end of December 31, 2023

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2023
Audit Information [Abstract]
Auditor Name	Ernst & Young LLP
Auditor Location	Denver, Colorado
Auditor Firm ID	42

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
CONSOLIDATED STATEMENTS OF OPERATIONS
Sales	$ 33,107,120	$ 37,124,422	$ 34,477,018
Cost of sales	28,958,102	32,287,797	30,274,653
Gross profit	4,149,018	4,836,625	4,202,365
Operating expenses:
Selling, general, and administrative expenses	2,412,822	2,567,008	2,435,030
Depreciation and amortization	181,116	187,382	195,120
Restructuring, integration, and other charges	83,916	13,741	15,393
Total operating expenses	2,677,854	2,768,131	2,645,543
Operating income	1,471,164	2,068,494	1,556,822
Equity in earnings of affiliated companies	6,407	7,664	3,508
Gain (loss) on investments, net	19,284	(2,857)	12,951
Employee benefit plan expense, net	(3,777)	(3,503)	(5,180)
Interest and other financing expense, net	(328,724)	(185,648)	(131,727)
Income before income taxes	1,164,354	1,884,150	1,436,374
Provision for income taxes	254,991	448,992	325,906
Consolidated net income	909,363	1,435,158	1,110,468
Noncontrolling interests	5,858	8,274	2,271
Net income attributable to shareholders	$ 903,505	$ 1,426,884	$ 1,108,197
Net income per share:
Basic (in dollars per share)	$ 16.03	$ 22.01	$ 15.29
Diluted (in dollars per share)	$ 15.84	$ 21.80	$ 15.10
Weighted-average shares outstanding:
Basic (in shares)	56,359	64,838	72,472
Diluted (in shares)	57,035	65,453	73,385

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Consolidated net income	$ 909,363	$ 1,435,158	$ 1,110,468
Other comprehensive income (loss):
Foreign currency translation adjustment and other, net of taxes	74,800	(231,464)	(133,106)
(Loss) gain on foreign exchange contracts designated as net investment hedges, net of taxes	(7,952)	8,779	14,452
Gain on interest rate swaps designated as cash flow hedges, net of taxes	2,783	28,664	21,538
Employee benefit plan items, net of taxes	(1,277)	18,724	7,150
Other comprehensive income (loss)	68,354	(175,297)	(89,966)
Comprehensive income	977,717	1,259,861	1,020,502
Less: Comprehensive income (loss) attributable to noncontrolling interests	6,989	6,582	(923)
Comprehensive income attributable to shareholders	$ 970,728	$ 1,253,279	$ 1,021,425

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
ASSETS
Cash and cash equivalents	$ 218,053	$ 176,915
Accounts receivable, net	12,238,073	12,322,717
Inventories	5,187,225	5,319,369
Other current assets	684,126	521,339
Total current assets	18,327,477	18,340,340
Property, plant, and equipment, at cost:
Land	5,691	5,691
Buildings and improvements	195,579	184,211
Machinery and equipment	1,632,606	1,583,661
Property, plant, and equipment, gross	1,833,876	1,773,563
Less: Accumulated depreciation and amortization	(1,303,136)	(1,177,107)
Property, plant, and equipment, net	530,740	596,456
Investments in affiliated companies	62,741	65,112
Intangible assets, net	127,440	159,137
Goodwill	2,050,426	2,027,626
Other assets	627,344	574,511
Total assets	21,726,168	21,763,182
LIABILITIES AND EQUITY
Accounts payable	10,070,015	10,460,419
Accrued expenses	1,463,915	1,339,302
Short-term borrowings, including current portion of long-term debt	1,653,954	589,883
Total current liabilities	13,187,884	12,389,604
Long-term debt	2,153,553	3,182,964
Other liabilities	507,424	579,261
Contingencies (Note 15)
Equity:
Common stock, par value $1: Authorized - 160,000 shares in both 2023 and 2022 Issued -57,691 and 125,424 shares in 2023 and 2022 respectively	57,691	125,424
Capital in excess of par value	553,340	1,208,708
Treasury stock (3,880 and 66,175 shares in 2023 and 2022, respectively), at cost	(297,745)	(4,637,345)
Retained earnings	5,790,217	9,214,832
Accumulated other comprehensive loss	(298,039)	(365,262)
Total shareholders' equity	5,805,464	5,546,357
Noncontrolling interests	71,843	64,996
Total equity	5,877,307	5,611,353
Total liabilities and equity	$ 21,726,168	$ 21,763,182

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares shares in Thousands	Dec. 31, 2023	Dec. 31, 2022
CONSOLIDATED BALANCE SHEETS
Common stock, par value	$ 1	$ 1
Common stock, shares authorized	160,000	160,000
Common stock, shares issued	57,691	125,424
Treasury stock, shares	3,880	66,175

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Consolidated net income	$ 909,363	$ 1,435,158	$ 1,110,468
Adjustments to reconcile consolidated net income to net cash provided by (used for) operations:
Depreciation and amortization	181,116	187,382	195,120
Amortization of stock-based compensation	41,569	42,930	36,117
Equity in earnings of affiliated companies	(6,407)	(7,664)	(3,508)
Deferred income taxes	(93,980)	(13,050)	24,749
(Gain) loss on investments, net	(12,466)	2,857	(12,833)
Other	22,590	3,612	8,429
Change in assets and liabilities:
Accounts receivable, net	189,425	(1,430,400)	(2,109,159)
Inventories	139,313	(1,165,785)	(960,605)
Accounts payable	(457,382)	945,819	1,766,912
Accrued expenses	38,601	102,193	391,941
Other assets and liabilities	(246,293)	(136,129)	(28,648)
Net cash provided by (used for) operating activities	705,449	(33,077)	418,983
Cash flows from investing activities:
Acquisition of property, plant, and equipment	(83,285)	(78,836)	(83,051)
Proceeds from sale of property, plant, and equipment	0	0	22,171
Proceeds from collections of notes receivable	237	21,125	762
Proceeds from settlement of net investment hedge	10,725	0	0
Net cash used for investing activities	(72,323)	(57,711)	(60,118)
Cash flows from financing activities:
Change in short-term and other borrowings	866,012	258,816	12,938
(Repayments of) proceeds from long-term bank borrowings, net	(1,031,881)	1,233,250	(687)
Redemption of notes	(300,000)	(350,000)	(130,860)
Net proceeds from note offering	496,268	0	495,134
Proceeds from exercise of stock options	17,010	17,340	46,982
Repurchases of common stock	(770,200)	(1,049,487)	(911,548)
Settlement of forward-starting interest rate swap	56,711	0	24,896
Other	(142)	(137)	(159)
Net cash (used for) provided by financing activities	(666,222)	109,782	(463,304)
Effect of exchange rate changes on cash	74,234	(64,273)	(46,982)
Net increase (decrease) in cash and cash equivalents	41,138	(45,279)	(151,421)
Cash and cash equivalents at beginning of year	176,915	222,194	373,615
Cash and cash equivalents at end of year	$ 218,053	$ 176,915	$ 222,194

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands	Common Stock at Par Value	Capital in Excess of Par Value	Treasury Stock	Retained Earnings	Accumulated Other Comprehensive Loss	Noncontrolling Interest	Total
Balance at Dec. 31, 2020	$ 125,424	$ 1,165,850	$ (2,776,821)	$ 6,679,751	$ (104,885)	$ 59,633	$ 5,148,952
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Consolidated net income	0	0	0	1,108,197	0	2,271	1,110,468
Other comprehensive loss	0	0	0	0	(86,772)	(3,194)	(89,966)
Amortization of stock-based compensation	0	36,117	0	0	0	0	36,117
Shares issued for stock-based compensation awards	0	(12,122)	59,104	0	0	0	46,982
Repurchases of common stock	0	0	(911,548)	0	0	0	(911,548)
Distributions	0	0	0	0	0	(159)	(159)
Balance at Dec. 31, 2021	125,424	1,189,845	(3,629,265)	7,787,948	(191,657)	58,551	5,340,846
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Consolidated net income	0	0	0	1,426,884	0	8,274	1,435,158
Other comprehensive loss	0	0	0	0	(173,605)	(1,692)	(175,297)
Amortization of stock-based compensation	0	42,930	0	0	0	0	42,930
Shares issued for stock-based compensation awards	0	(24,067)	41,407	0	0	0	17,340
Repurchases of common stock	0	0	(1,049,487)	0	0	0	(1,049,487)
Distributions	0	0	0	0	0	(137)	(137)
Balance at Dec. 31, 2022	125,424	1,208,708	(4,637,345)	9,214,832	(365,262)	64,996	5,611,353
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Consolidated net income	0	0	0	903,505	0	5,858	909,363
Other comprehensive loss	0	0	0	0	67,223	1,131	68,354
Amortization of stock-based compensation	0	41,569	0	0	0	0	41,569
Shares issued for stock-based compensation awards	0	(38,536)	55,546	0	0	0	17,010
Repurchases of common stock	0	0	(770,200)	0	0	0	(770,200)
Retirement of treasury stock	(67,733)	(658,401)	5,054,254	(4,328,120)	0	0	0
Distributions	0	0	0	0	0	(142)	(142)
Balance at Dec. 31, 2023	$ 57,691	$ 553,340	$ (297,745)	$ 5,790,217	$ (298,039)	$ 71,843	$ 5,877,307

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	1. Summary of Significant Accounting Policies Principles of Consolidation The consolidated financial statements of Arrow Electronics, Inc. (the “company” or “Arrow”) include the accounts of the company, its majority-owned subsidiaries, and Arrow EMEA Funding Corp B.V. (see Note 4). All significant intercompany transactions are eliminated. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States (“GAAP”) requires the company to make significant estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Cash and Cash Equivalents Cash equivalents consist of highly liquid investments, which are readily convertible into cash, with original maturities of three months or less. Trade Accounts and Notes Receivable Trade accounts and notes receivable are reported at amortized cost, net of the allowance for credit losses in the consolidated balance sheets. The allowance for credit losses is a valuation account that is deducted from the receivables’ amortized cost basis to present the net amount expected to be collected. Receivables are written off against the allowance when management believes the receivable balance is confirmed to be uncollectible. Management estimates the allowance for credit losses using relevant available information about expected credit losses and an age-based reserve model. Inputs to the model include information about historical credit losses, customer credit ratings, past events, current conditions, and reasonable and supportable forecasts. Adjustments to historical loss information are made for differences in current receivable-specific risk characteristics such as changes in the economic and industry environment, or other relevant factors. Expected credit losses are estimated on a collective (pool) basis, when similar risk characteristics exist, based on customer credit ratings, which include both externally acquired as well as internally determined credit ratings. Receivables that do not share risk characteristics are evaluated on an individual basis. Inventories Inventories are stated at the lower of cost or net realizable value. Cost is determined on a moving average cost basis, which approximates the first-in, first-out method. Substantially all inventories represent finished goods held for sale. Property, Plant, and Equipment Property, plant, and equipment are stated at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. The estimated useful lives for depreciation of buildings is generally 20 30 3 10 groups are determined based upon the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. If the carrying value of an asset group cannot be recovered from estimated future cash flows, undiscounted and without interest, the fair value of the asset is calculated using the present value of estimated net future cash flows. If the fair value is less than the carrying amount of the asset, a loss is recognized for the difference, subject to the limitation of individual asset fair values within the group. Software Development Costs The company capitalizes certain internal and external costs incurred to acquire or create internal-use software. Capitalized software costs are amortized on a straight-line basis over the estimated useful life of the software, which is generally 3 12 Identifiable Intangible Assets Amortization of definite-lived intangible assets is computed using the straight-line method over the estimated useful lives of the assets. Identifiable intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amounts may not be recoverable. Investments Investments are accounted for using the equity method if the investment provides the company the ability to exercise significant influence, but not control, over an investee. Significant influence is generally deemed to exist if the company has an ownership interest in the voting stock of the investee between 20% and 50%, although other factors, such as representation on the investee’s Board of Directors, are considered in determining whether the equity method is appropriate. The company records its investments in equity method investees meeting these characteristics as “Investments in affiliated companies” in the company’s consolidated balance sheets. Equity investments for which the company does not possess the ability to exercise significant influence are measured at fair value using quoted market prices, and are included in “Other assets” in the company’s consolidated balance sheets. Changes in fair value are recorded in “Gain (loss) on investments, net” in the company’s consolidated statements of operations. The company records equity investments that do not have readily determinable fair values at cost minus impairment, if any, plus or minus changes resulting from observable price changes. Goodwill Goodwill represents the excess of the cost of an acquisition over the fair value of the net assets acquired. The company tests goodwill for impairment annually as of the first day of the fourth quarter and/or when an event occurs or circumstances change such that it is more likely than not that an impairment may exist. Examples of such events and circumstances that the company would consider include the following: ● macroeconomic conditions such as deterioration in general economic conditions, limitations on accessing capital, fluctuations in foreign exchange rates, or other developments in equity and credit markets; ● industry and market considerations such as a deterioration in the environment in which the company operates, an increased competitive environment, a decline in market-dependent multiples or metrics (considered in both absolute terms and relative to peers), a change in the market for the company’s products or services, or a regulatory or political development; ● cost factors such as increases in inventory, labor, or other costs that have a negative effect on earnings and cash flows; ● overall financial performance such as negative or declining cash flows or a decline in actual or planned revenue or earnings compared with actual and projected results of relevant prior periods; ● other relevant entity-specific events such as changes in management, key personnel, strategy, or customers, contemplation of bankruptcy, or litigation; ● events affecting a reporting unit such as a change in the composition or carrying amount of its net assets, a more likely than not expectation of selling or disposing all, or a portion, of a reporting unit, the testing for recoverability of a significant asset group within a reporting unit, or recognition of a goodwill impairment loss in the financial statements of a subsidiary that is a component of a reporting unit; and ● a sustained decrease in share price (considered in both absolute terms and relative to peers). Goodwill is tested at a level of reporting referred to as “the reporting unit.” The company’s reporting units are defined as: ● each of the three regional businesses within the global components reportable segment: ◦ Americas Components; ◦ Europe, the Middle East, and Africa (“EMEA”) Components; ◦ Asia/Pacific Components; ● eInfochips, which is part of the global components reportable segment; and ● each of the two regional businesses within the global enterprise computing solutions (“ECS”) reportable segment: ◦ ECS Americas; ◦ ECS EMEA The company performs a quantitative goodwill impairment test annually and this test is used to both identify and measure impairment by comparing the fair value of a reporting unit with its carrying amount, including goodwill. If the carrying amount of the reporting unit is less than its fair value, no impairment exists. If the carrying amount of a reporting unit exceeds its fair value, an impairment loss shall be recognized in an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit. The company estimates the fair value of a reporting unit using the income approach. For the purposes of the income approach, fair value is determined based on the present value of estimated future cash flows, discounted at an appropriate risk-adjusted rate. The assumptions included in the income approach include forecasted revenues, gross profit margins, operating income margins, working capital, perpetual growth rates, income tax rates, and long-term discount rates, among others, all of which require significant judgments by management. Actual results may differ from those assumed in the company’s forecasts. The company also reconciles its discounted cash flow analysis to its current market capitalization allowing for a reasonable control premium. As of the first day of the fourth quarters of 2023, 2022, and 2021, the company’s annual impairment testing did not indicate impairment at any of the company’s reporting units. As of the date of the company’s 2023 annual impairment test, the fair value of all reporting units exceeded their carrying values by more than 19%. Discount rates are one of the more significant assumptions used in the income approach. If the company increased the discount rates used by 100 basis points, the fair value of all reporting units would still exceed their carrying values by more than 8%. A decline in general economic conditions or global equity valuations could impact the judgments and assumptions about the fair value of the company’s businesses, and the company could be required to record an impairment charge in the future, which could impact the company’s consolidated balance sheets, as well as the company’s consolidated statements of operations. If the company was required to recognize an impairment charge in the future, the charge would not impact the company’s consolidated cash flows, current liquidity, capital resources, and covenants under its existing revolving credit facility, North American asset securitization program, other outstanding borrowings, and EMEA asset securitization program. As of December 31, 2023, the company has $2.1 billion of goodwill, of which approximately $568.2 million and $110.0 million was allocated to the Americas and EMEA reporting units within the global components reportable segment, respectively, $783.6 million and $391.7 million was allocated to the North America and EMEA reporting units within the global ECS reportable segment, respectively, and $197.0 million was allocated to the eInfochips reporting unit. Within the global components reportable segment, the Asia/Pacific reporting unit’s goodwill was previously fully impaired. Refer to Note 2. Leases The company determines if a contract contains a lease at inception based on whether it conveys the right to control the use of an identified asset. Substantially all of the company’s leases are classified as operating leases. The company records operating lease right-of-use assets within “Other assets” and lease liabilities are recorded within “Other liabilities” and “Accrued expenses” in the consolidated balance sheets. Lease expenses are recorded within “Selling, general, and administrative expenses” in the consolidated statements of operations. Operating lease payments are presented within “Operating cash flows” in the consolidated statements of cash flows. Operating lease right-of-use assets and lease liabilities are recognized based on the net present value of future minimum lease payments over the lease term starting on the commencement date. The company generally is not able to determine the rate implicit in its leases and, as such, applies an incremental borrowing rate based on the company’s cost of borrowing for the relevant terms of each lease. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. Lease terms may include an option to extend or terminate a lease if it is reasonably certain that the company will exercise such options. The company does not separate lease components from non-lease components, and also has elected not to record a right-of-use asset or lease liability for leases which, at inception, have a term of twelve months or less. Variable lease payments are recognized in the period in which the obligation for those payments is incurred. Foreign Currency Translation and Remeasurement The assets and liabilities of international operations are translated at the exchange rates in effect at the balance sheet date. Revenue and expense accounts are translated at the monthly average exchange rates. Adjustments arising from the translation of the foreign currency financial statements of the company’s international operations are reported as a component of “Accumulated other comprehensive loss” in the company’s consolidated balance sheets. For foreign currency remeasurement from each local currency into the appropriate functional currency, monetary assets and liabilities are remeasured to functional currencies using current exchange rates in effect at the balance sheet date. Gains or losses from these remeasurements were not significant and have been included in the company’s consolidated statements of operations. Non-monetary assets and liabilities are recorded at historical exchange rates. Transactions denominated in currencies other than the applicable functional currency are converted to the functional currency at the exchange rate on the transaction date. Income Taxes Income taxes are accounted for under the liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the consolidated financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of differences between the tax bases of assets and liabilities and their financial reporting amounts using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. The carrying value of the company’s deferred tax assets is dependent upon the company’s ability to generate sufficient future taxable income in certain tax jurisdictions. Should the company determine that it is more likely than not that some portion or all of its deferred tax assets will not be realized, a valuation allowance to reduce the deferred tax assets is established in the period such determination is made. The assessment of the need for a valuation allowance requires judgment on the part of management with respect to the benefits that could be realized from future taxable income, as well as other positive and negative factors. It is also the company’s policy to provide for uncertain tax positions and the related interest and penalties based upon management’s assessment of whether a tax benefit is more likely than not to be sustained upon examination by tax authorities. To the extent the company prevails in matters for which a liability for an unrecognized tax benefit is established, or is required to pay amounts in excess of the liability, or when other facts and circumstances change, the company’s effective tax rate in a given financial statement period may be materially affected. Net Income Per Share Basic net income per share is computed by dividing net income attributable to shareholders by the weighted-average number of common shares outstanding for the period. Diluted net income per share reflects the potential dilution that would occur if securities or other contracts to issue common stock were exercised or converted into common stock. The dilutive effect of equity awards is calculated using the treasury stock method. Treasury Stock The company’s stock repurchase program provides an opportunity for the company to repurchase shares at the discretion of the company’s senior executives, based on various factors. The company recognizes treasury stock based on the amount paid to repurchase its shares. Direct costs incurred to acquire treasury stock, including excise taxes, are added to the cost of the treasury stock. Upon the retirement of treasury shares, the cost of repurchased and retired treasury shares in excess of the par value is allocated between additional paid-in capital and retained earnings. All retired shares are classified as authorized but unissued and do not reduce the total number of authorized shares. When treasury shares are reissued, if the issuance price is higher than the average price paid to acquire the shares (the “average cost”), the gain on reissuance is credited to additional paid-in-capital. If the issuance price is lower than the average cost, the loss on reissuance is first charged against any previous gains recorded to additional paid-in-capital from treasury stock, with the remaining balance charged to retained earnings. Comprehensive Income Comprehensive income consists of consolidated net income, foreign currency translation adjustment, gains or losses on post-retirement benefit plans, gains or losses on foreign exchange contracts designated as net investment hedges, and gains and losses on interest rate swaps designated as cash flow hedges. Gains or losses on interest rate swaps, and foreign exchange contracts are net of any reclassification adjustments for realized gains or losses included in consolidated net income. Amounts related to net investment hedges that are excluded from the assessment of hedge effectiveness are amortized to “interest and other financing expenses, net” on a straight-line basis over the life of the hedging instrument. Foreign currency translation adjustments included in comprehensive income which are deemed permanent investments in international affiliates were not tax effected. All other comprehensive income items are net of related income taxes. Stock-Based Compensation The company records share-based payment awards exchanged for employee services at fair value on the date of grant and expenses the awards in the consolidated statements of operations over the requisite employee service period. Stock-based compensation expense includes an estimate for forfeitures. Stock-based compensation expense related to awards with a market or performance condition which cliff vest, are recognized over the vesting period on a straight-line basis. Stock-based compensation awards with service conditions only are also recognized on a straight-line basis. Stock-based compensation expense related to awards with graded vesting and performance conditions is recognized using the graded vesting method. Segment Reporting Operating segments are defined as components of an enterprise for which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The company’s operations are classified into two reportable segments: global components and global ECS (see Note 16). Revenue Recognition The company recognizes revenue as control of products is transferred to customers, which generally happens at the point of shipment. Sales are recorded net of discounts, rebates, and returns, which historically have not been material. The company allows its customers to return product for exchange or credit in limited circumstances. The company also provides volume rebates and other discounts to certain customers which are considered a variable consideration. A provision for customer rebates and other discounts is recorded as a reduction of revenue at the time of sale based on an evaluation of the contract terms and historical experience. Tariffs are included in sales as the company has enforceable rights to additional consideration to cover the cost of tariffs. Other taxes imposed by governmental authorities on the company’s revenue producing activities with customers, such as sales taxes and value-added taxes, are excluded from net sales. Products sold by the company are generally delivered via shipment from the company's facilities, drop shipment directly from the vendor, or by electronic delivery of keys for software products. The company is the principal in these transactions, as it is principally responsible for fulfilling the order, which includes negotiating price both with the supplier and customer, payment to the supplier, establishing payment terms with the customer, product returns, and has risk of loss if the customer does not make payment. Sales, where the company is the principal in the transaction, are reported on the gross amount billed to a customer less discounts, rebates, and returns (referred to as “sales recognized on a gross basis”). The company has contracts with certain customers where the company’s performance obligation is to arrange for the products or services to be provided by another party. The company is the agent in these arrangements, which relate to the sale of supplier-provided service contracts to customers or the rendering of logistics services for the delivery of inventory for which the company does not assume the risks and rewards of ownership. Sales, where the company is the agent, are reported as the amount billed to the customer net of the cost of the sale (referred to as “sales recognized on a net basis”). No single customer accounted for more than 2% of the company’s 2023 consolidated sales. One supplier accounted for approximately 10% of the company’s consolidated sales in 2023. The company believes that many of the products it sells are available from other sources at competitive prices. However, certain parts of the company’s business, such as the company’s global ECS reportable segment, rely on a limited number of suppliers with the strategy of providing focused support, extensive product knowledge, and customized service to suppliers, value-added resellers (“VARs”), and managed service providers (“MSPs”). Most of the company’s purchases are pursuant to distributor agreements, which are typically non-exclusive and cancelable by either party at any time or on short notice. Shipping and Handling Costs The company reports shipping and handling costs, primarily related to outbound freight, in the consolidated statements of operations as a component of “Selling, general, and administrative expenses” or “Cost of sales”, depending on the nature of the transaction. Vendor Programs The company participates in supplier programs that provide for price protection, product rebates, marketing/promotional allowances, and other incentives. The consideration received under these programs is recorded in the consolidated statements of operations as an adjustment to “cost of sales” or “selling, general, and administrative expenses”, according to the nature of the activity and terms of the vendor program. Incentives are accrued as they are earned based on sales of qualifying products or as services are provided in accordance with the terms of the related program. Impact of Recently Issued Accounting Standards In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures explanation of how the reported segment profit or loss is assessed and allocated. The amendments in the ASU are effective for fiscal years beginning after December 15, 2023, and interim periods after December 15, 2024. The amendments in this ASU will be applied retrospectively for all prior periods presented in the financial statements. The company is currently evaluating the potential effects of adopting the provisions of ASU No. 2023-07. In September 2022, the FASB issued ASU No. 2022-04, Liabilities—Supplier Finance Programs (Subtopic 405-50) Disclosure of Supplier Finance Program Obligations Reclassification Certain prior period amounts were reclassified to conform to the current period presentation. These reclassifications did not have a material impact on previously reported amounts.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets
Goodwill and Intangible Assets	2. Goodwill and Intangible Assets Goodwill represents the excess of the cost of an acquisition over the fair value of the net assets acquired. The company tests goodwill and other indefinite-lived intangible assets for impairment annually as of the first day of the fourth quarter, or more frequently if indicators of potential impairment exist. As of the first day of the fourth quarters of 2023, 2022, and 2021, the company’s annual impairment testing did not result in any additional impairment of goodwill of companies acquired. Goodwill of companies acquired, allocated to the company’s reportable segments, is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Global ​ ​ (thousands) ​ Components ​ Global ECS ​ Total Balance as of December 31, 2021 (a) ​ $ 882,948 ​ $ 1,197,423 ​ $ 2,080,371 Foreign currency translation adjustment ​ (9,945) ​ (42,800) ​ (52,745) Balance as of December 31, 2022 (a) ​ $ 873,003 ​ $ 1,154,623 ​ $ 2,027,626 Foreign currency translation adjustment ​ 2,191 ​ 20,609 ​ 22,800 Balance as of December 31, 2023 (a) ​ $ 875,194 ​ $ 1,175,232 ​ $ 2,050,426 (a) The total carrying value of goodwill as of December 31, 2023, 2022, and 2021 in the table above is reflected net of $1.6 billion of accumulated impairment charges, of which $1.3 billion was recorded in the global components reportable segment and $301.9 million was recorded in the global ECS reportable segment. Intangible assets, net, are comprised of the following as of December 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ ​ ​ ​ Carrying ​ Accumulated ​ ​ (thousands) ​ Amount ​ Amortization ​ Net Customer relationships ​ $ 258,337 ​ $ (156,141) ​ $ 102,196 Amortizable trade name ​ 73,811 ​ (48,567) ​ 25,244 ​ ​ $ 332,148 ​ $ (204,708) ​ $ 127,440 ​ Intangible assets, net, are comprised of the following as of December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ ​ ​ ​ Carrying ​ Accumulated ​ ​ (thousands) ​ Amount ​ Amortization ​ Net Customer relationships ​ $ 268,180 ​ $ (144,655) ​ $ 123,525 Amortizable trade name ​ 74,011 ​ (38,399) ​ 35,612 ​ ​ $ 342,191 ​ $ (183,054) ​ $ 159,137 ​ Amortization expense related to identifiable intangible assets was $31.2 million, $34.7 million, and $36.9 million for the years ended December 31, 2023, 2022, and 2021, respectively. Amortization expense for each of the years 2024 through 2028 is estimated to be approximately $29.5 million, $20.3 million, $19.5 million, $18.9 million, and $11.2 million, respectively.

Investments in Affiliated Compa

Investments in Affiliated Companies	12 Months Ended
	Dec. 31, 2023
Investments in Affiliated Companies
Investments in Affiliated Companies	3. Investments in Affiliated Companies The company owns a 50% interest in two joint ventures with Marubun Corporation (collectively “Marubun/Arrow”) and a 50% interest in one other joint venture. These investments are accounted for using the equity method. The following table presents the company’s investment in affiliated companies: ​ ​ ​ ​ ​ ​ ​ ​ (thousands) 2023 2022 Marubun/Arrow ​ $ 50,779 ​ $ 54,292 Other ​ 11,962 ​ 10,820 ​ ​ $ 62,741 ​ $ 65,112 ​ The equity in earnings of affiliated companies consists of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (thousands) 2023 2022 2021 Marubun/Arrow ​ $ 4,452 ​ $ 6,289 ​ $ 2,684 Other ​ 1,955 ​ 1,375 ​ 824 ​ ​ $ 6,407 ​ $ 7,664 ​ $ 3,508 ​ Under the terms of various joint venture agreements, the company is required to pay its pro-rata share of the third-party debt of the joint ventures in the event that the joint ventures are unable to meet their obligations. There were no outstanding borrowings under the third-party debt agreements of the joint ventures as of December 31, 2023 and 2022.

Accounts Receivable

Accounts Receivable	12 Months Ended
	Dec. 31, 2023
Accounts Receivable
Accounts Receivable	4. Accounts Receivable The following table is a rollforward for the company’s allowance for credit losses at December 31: ​ ​ ​ ​ ​ ​ ​ ​ (thousands) 2023 2022 Accounts receivable ​ $ 12,384,553 ​ $ 12,416,114 Allowance for credit losses ​ (146,480) ​ (93,397) Accounts receivable, net ​ $ 12,238,073 ​ $ 12,322,717 ​ Allowance for credit losses consists of the following at December 31: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (thousands) 2023 2022 2021 Balance at beginning of period ​ $ 93,397 ​ $ 75,901 ​ $ 92,792 Charged to income ​ 71,984 ​ 34,590 ​ 7,039 Translation Adjustments ​ 690 ​ (1,476) ​ (1,963) Write-offs ​ (19,591) ​ (15,618) ​ (21,967) Balance at end of period ​ $ 146,480 ​ $ 93,397 ​ $ 75,901 ​ The company monitors the current credit condition of its customers and other available information about expected credit losses in estimating its allowance for credit losses. During 2023, increases to the allowance for credit losses charged to income were $37.4 million higher than the prior year, primarily due to the aging of receivables of certain customers. With the exception of these few customers, as of December 31, 2023, the company has not experienced significant changes in customers’ payment trends or significant deterioration in customers’ credit risk. EMEA Asset Securitization The company has an EMEA asset securitization program under which it continuously sells its interest in designated pools of trade accounts receivable of certain of its subsidiaries in the EMEA region at a discount, to a special purpose entity, which in turn sells certain of the receivables to unaffiliated financial institutions and conduits administered by such unaffiliated financial institutions (“unaffiliated financial institutions”) on a monthly basis. The company may sell up to €600.0 million under the EMEA asset securitization program, which matures in December 2025, subject to extension in accordance with its terms. In January 2023, July 2023, and February 2024 the company amended provisions in the EMEA asset securitization program to update certain financial ratios. The program is conducted through Arrow EMEA Funding Corp B.V., an entity structured to be bankruptcy remote. The company is deemed the primary beneficiary of Arrow EMEA Funding Corp B.V. as the company has both the power to direct the activities that most significantly impact the entity’s economic performance and the obligation to absorb losses or the right to receive the benefits that could potentially be significant to the entity from the transfer of the trade accounts receivables into the special purpose entity. Accordingly, Arrow EMEA Funding Corp B.V. is included in the company’s consolidated financial statements. Sales of accounts receivable to unaffiliated financial institutions under the EMEA asset securitization program for the years ended December 31: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (thousands) 2023 2022 ​ 2021 EMEA asset securitization, sales of accounts receivables ​ $ 3,160,247 ​ $ 2,524,276 ​ $ 2,193,983 ​ Receivables sold to unaffiliated financial institutions under the program are excluded from “Accounts receivable, net” on the company’s consolidated balance sheets and cash receipts are reflected as cash provided by operating activities on the consolidated statements of cash flows. The purchase price is paid in cash when the receivables are sold. Certain unsold receivables held on Arrow EMEA Funding Corp B.V. are pledged as collateral to unaffiliated financial institutions. These unsold receivables are included in “Accounts receivable, net” in the company’s consolidated balance sheets. The company continues servicing the receivables which were sold and in exchange receives a servicing fee under the program. The company does not record a servicing asset or liability on the company’s consolidated balance sheets as the company estimates that the fee it receives to service these receivables approximates the fair market compensation to provide the servicing activities. Other amounts related to the EMEA asset securitization program as of December 31: ​ ​ ​ ​ ​ ​ ​ ​ (thousands) 2023 2022 Receivables sold to unaffiliated financial institutions that were uncollected ​ $ 529,266 ​ $ 628,930 Collateralized accounts receivable held by Arrow EMEA funding Corp B.V. ​ 805,788 ​ 932,243 ​ Any accounts receivable held by Arrow EMEA Funding Corp B.V. would likely not be available to other creditors of the company in the event of bankruptcy or insolvency proceedings if there are outstanding balances under the EMEA asset securitization program. The assets of the special purpose entity cannot be used by the company for general corporate purposes. Additionally, the financial obligations of Arrow EMEA Funding Corp B.V. to the unaffiliated financial institutions under the program are limited to the assets it owns and there is no recourse to Arrow Electronics, Inc. for receivables that are uncollectible as a result of the insolvency or inability to pay of the account debtors. The EMEA asset securitization program includes terms and conditions that limit the incurrence of additional borrowings and require that certain financial ratios be maintained at designated levels. As of December 31, 2023, the company was in compliance with all such financial covenants. Factoring In the normal course of business, certain of the company’s subsidiaries have factoring agreements to sell, without recourse, selected trade accounts receivable to financial institutions. The company does not retain financial or legal interests in these receivables, and, accordingly they are accounted for as sales of the related receivables, and the receivables are excluded from “Accounts receivable, net” on the company’s consolidated balance sheets and cash receipts are reflected as cash provided by operating activities on the consolidated statements of cash flows. Factoring fees for the sales of accounts receivables are included in “Interest and other financing expense, net” in the consolidated statements of operations. T he company continues servicing the receivables which were sold. Sales of trade accounts receivable under the company’s factoring programs for the years ended December 31: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (thousands) 2023 2022 ​ 2021 Sales of accounts receivables under the factoring programs ​ $ 1,618,726 ​ $ 1,612,909 ​ $ 1,625,951 ​ Other amounts under the company’s factoring programs as of December 31: ​ ​ ​ ​ ​ ​ ​ ​ (thousands) 2023 2022 Receivables sold under the factoring programs that were uncollected ​ $ 375,940 ​ $ 224,433 ​

Supplier Finance Programs

Supplier Finance Programs	12 Months Ended
	Dec. 31, 2023
Supplier Finance Programs
Supplier Finance Programs	5. Supplier Finance Programs At the request of certain of the company’s suppliers, the company has entered into agreements (“supplier finance programs”) with third-party finance providers, which facilitate the participating suppliers’ ability to sell their receivables from the company to the third-party financial institutions, at the sole discretion of the suppliers. For agreeing to participate in these programs, the company seeks to secure improved standard payment terms with its suppliers. The company is not involved in negotiating terms of the arrangements between its suppliers and the financial institutions and has no economic interest in a supplier’s decision to enter into these agreements, or sell receivables from the company. The company’s rights and obligations to its suppliers, including amounts due, are not impacted by suppliers' decisions to sell amounts under the arrangements. However, the company agrees to make all payments to the third-party financial institutions, and the company’s right to offset balances due from suppliers against payment obligations is restricted by the agreements for those payment obligations that have been sold by suppliers. These obligations are included in “Accounts payable” on the company’s consolidated balance sheets and all activity related to the obligations is presented within operating activities on the consolidated statements of cash flows. The following table is a rollforward of the company’s outstanding obligations under its supplier finance programs: ​ ​ ​ ​ ​ (thousands) 2023 Obligations outstanding at the beginning of the year ​ $ 1,568,787 Invoices added during the year ​ 4,388,317 Invoices paid during the year ​ ​ (4,843,625) Obligations outstanding at the end of the year ​ $ 1,113,479 ​

Debt

Debt	12 Months Ended
	Dec. 31, 2023
Debt
Debt	6. Debt Short-term borrowings, including the current portion of long-term debt, consist of the following at December 31: ​ ​ ​ ​ ​ ​ ​ ​ (thousands) 2023 2022 4.50% notes, due March 2023 ​ $ — ​ $ 299,895 3.25% notes, due September 2024 ​ ​ 499,224 ​ ​ — Uncommitted lines of credit ​ — ​ 78,000 Commercial paper ​ 1,121,882 ​ 173,407 Other short-term borrowings ​ 32,848 ​ 38,581 ​ ​ $ 1,653,954 ​ $ 589,883 ​ ​ The company has $500.0 million in uncommitted lines of credit. In May 2023, the company increased the borrowing capacity on its uncommitted lines from $200.0 million to $500.0 million. There were no outstanding borrowings under the uncommitted lines of credit at December 31, 2023 and $78.0 million in outstanding borrowings under the uncommitted lines of credit at December 31, 2022. These borrowings were provided on a short-term basis and the maturity is agreed upon between the company and the lender. The uncommitted lines of credit had a weighted-average effective interest rate of 5.83% and 5.22% at December 31, 2023 and 2022, respectively. The company has a commercial paper program and the maximum aggregate balance of commercial paper outstanding may not exceed the borrowing capacity of $1.2 billion. Amounts outstanding under the commercial paper program are backstopped by available commitments under the company’s revolving credit facility. There were $1.1 billion in outstanding borrowings under the commercial paper program at December 31, 2023 and $173.4 million in outstanding borrowings under this program as of December 31, 2022. The commercial paper program had an effective interest rate of 5.90% and 5.15% at December 31, 2023 and 2022, respectively. Long-term debt consists of the following at December 31: ​ ​ ​ ​ ​ ​ ​ ​ (thousands) 2023 2022 North American asset securitization program ​ $ 198,000 ​ $ 1,235,000 3.25% notes, due 2024 ​ — ​ 498,122 4.00% notes, due 2025 ​ 349,061 ​ 348,344 6.125% notes, due 2026 (a) ​ 497,661 ​ — 7.50% senior debentures, due 2027 ​ 110,184 ​ 110,103 3.875% notes, due 2028 ​ 497,098 ​ 496,448 2.95% notes, due 2032 ​ 495,039 ​ 494,522 Other obligations with various interest rates and due dates ​ 6,510 ​ 425 ​ ​ $ 2,153,553 ​ $ 3,182,964 (a) Upon issuance of the 6.125% notes due March 2026, the company entered into an interest rate swap, which effectively converts the 6.125% notes to floating rate notes based on the secured overnight financing rate (“SOFR”) + 0.508%, or an effective interest rate of 5.87% at December 31, 2023. ​ The 7.50% senior debentures are not redeemable prior to their maturity. All other notes may be called at the option of the company subject to “make whole” clauses. ​ The estimated fair market value of long-term debt at December 31, using quoted market prices, is as follows: ​ ​ ​ ​ ​ ​ ​ ​ (thousands) 2023 2022 3.25% notes, due 2024 ​ $ — ​ $ 481,500 4.00% notes, due 2025 ​ ​ 343,500 ​ ​ 338,000 6.125% notes, due 2026 ​ 502,000 ​ — 7.50% senior debentures, due 2027 ​ 117,000 ​ 116,500 3.875% notes, due 2028 ​ 475,000 ​ 456,000 2.95% notes, due 2032 ​ 425,000 ​ 395,500 ​ The carrying amount of the company’s other short-term borrowings, 3.25% notes due in 2024, North American asset securitization program, commercial paper, uncommitted lines of credit, and other obligations approximate their fair value. The company has a $2.0 billion revolving credit facility maturing in September 2026. The facility may be used by the company for general corporate purposes including working capital in the ordinary course of business, letters of credit, repayment, prepayment or purchase of long-term indebtedness, acquisitions, and as support for the company’s commercial paper program, as applicable. Interest on borrowings under the revolving credit facility is calculated using a base rate or SOFR, plus a spread (1.08% at December 31, 2023), which is based on the company’s credit ratings, plus a credit spread adjustment of 0.10% or a weighted-average effective interest rate of 6.42% at December 31, 2023. The facility fee, which is based on the company’s credit ratings, was 0.175% of the total borrowing capacity at December 31, 2023. The company had no outstanding borrowings under the revolving credit facility at December 31, 2023 and 2022. The company has a North American asset securitization program collateralized by accounts receivable of certain of its subsidiaries. The company may borrow up to $1.5 billion under the program which matures in September 2025. The program is conducted through Arrow Electronics Funding Corporation (“AFC”), a wholly-owned, bankruptcy remote subsidiary. The North American asset securitization program does not qualify for sale treatment. Accordingly, the accounts receivable and related debt obligation remain on the company’s consolidated balance sheets. Interest on borrowings is calculated using a base rate plus a spread (0.40% at December 31, 2023), plus a credit spread adjustment of 0.10% or an effective interest rate of 5.85% at December 31, 2023. The facility fee is 0.40% of the total borrowing capacity. The company had $198.0 million and $1.2 billion in outstanding borrowings under the North American asset securitization program at December 31, 2023 and 2022, respectively, which was included in “Long-term debt” in the company’s consolidated balance sheets. Total collateralized accounts receivable of approximately $2.7 billion and $3.1 billion were held by AFC and were included in “Accounts receivable, net” in the company’s consolidated balance sheets at December 31, 2023 and 2022, respectively. Any accounts receivable held by AFC would likely not be available to other creditors of the company in the event of bankruptcy or insolvency proceedings of the company before repayment of any outstanding borrowings under the North American asset securitization program. Both the revolving credit facility and North American asset securitization program include terms and conditions that limit the incurrence of additional borrowings and require that certain financial ratios be maintained at designated levels. As of December 31, 2023, the company was in compliance with all such financial covenants. During the first quarter of 2023, the company completed the sale of $500.0 million principal amount of 6.125% notes due in March 2026. The notes have a call option which allows for redemption at par, without penalty, on or after March 1, 2024. The net proceeds of the offering of $496.3 million were used to repay the $300.0 million principal amount of its 4.50% notes due March 2023 and for general corporate purposes. ​ During February 2022, the company repaid $350.0 million principal amount of its 3.50% notes due April 2022. Annual payments of borrowings during each of the years 2024 through 2028 are $1.7 billion, $550.7 million, $503.2 million, $110.9 million, and $500.2 million, respectively, and $500.0 million for all years thereafter. Interest and other financing expense, net, includes interest and dividend income of $66.4 million, $33.7 million, and $14.7 million in 2023, 2022, and 2021, respectively. Interest paid, net of interest and dividend income, amounted to $274.1 million, $175.6 million, and $113.1 million in 2023, 2022, and 2021, respectively.

Financial Instruments Measured

Financial Instruments Measured at Fair Value	12 Months Ended
	Dec. 31, 2023
Financial Instruments Measured at Fair Value
Financial Instruments Measured At Fair Value	7. Financial Instruments Measured at Fair Value Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The company utilizes a fair value hierarchy, which maximizes the use of observable inputs and minimizes the use of unobservable inputs when measuring fair value. The fair value hierarchy has three levels of inputs that may be used to measure fair value: Level 1 Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. Level 2 Quoted prices in markets that are not active; or other inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability. Level 3 Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable. The following table presents assets (liabilities) measured at fair value on a recurring basis at December 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (thousands) Balance Sheet Location Level 1 Level 2 Level 3 Total Cash equivalents (a) ​ Cash and cash equivalents ​ $ 8,729 ​ $ — ​ $ — ​ $ 8,729 Equity investments (b) ​ Other assets ​ 57,625 ​ — ​ — ​ 57,625 Interest rate swap designated as fair value hedge ​ Other liabilities ​ — ​ (454) ​ — ​ (454) Foreign exchange contracts designated as net investment hedges ​ Other assets / other current assets ​ — ​ 47,245 ​ — ​ 47,245 ​ ​ ​ ​ ​ $ 66,354 ​ $ 46,791 ​ $ — ​ $ 113,145 ​ The following table presents assets measured at fair value on a recurring basis at December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (thousands) ​ Balance Sheet Location Level 1 Level 2 Level 3 Total Cash equivalents (a) ​ Cash and cash equivalents / other current assets ​ $ 6,596 ​ $ — ​ $ — ​ $ 6,596 Equity investments (b) ​ Other assets ​ 50,614 ​ — ​ — ​ 50,614 Interest rate swaps designated as cash flow hedges ​ Other assets ​ — ​ 55,942 ​ — ​ 55,942 Foreign exchange contracts designated as net investment hedges ​ Other assets / other current assets ​ — ​ 60,962 ​ — ​ 60,962 ​ ​ ​ ​ ​ $ 57,210 ​ $ 116,904 ​ $ — ​ $ 174,114 (a) Cash equivalents include highly liquid investments with an original maturity of less than three months. (b) The company has an 8.4% equity ownership interest in Marubun Corporation and a portfolio of mutual funds with quoted market prices. During 2023, 2022, and 2021 the company recorded unrealized gains (losses) of $9.7 million, $(5.8) million, and $7.8 million, respectively, on equity securities held at the end of each year. Assets and liabilities that are measured at fair value on a nonrecurring basis relate primarily to goodwill, and identifiable intangible assets (see Note 2). The company tests these assets for impairment if indicators of potential impairment exist or at least annually if indefinite-lived. Derivative Instruments The company uses various financial instruments, including derivative instruments, for purposes other than trading. Certain derivative instruments are designated at inception as hedges and measured for effectiveness both at inception and on an ongoing basis. Derivative instruments not designated as hedges are carried at fair value on the consolidated balance sheets with changes in fair value recognized in earnings. Interest Rate Swaps The company manages the risk of variability in interest rates of future expected debt issuances by entering into various forward-starting interest rate swaps, designated as cash flow hedges. Changes in fair value of interest rate swaps designated as cash flow hedges are recorded in the shareholders’ equity section in the company’s consolidated balance sheets in “Accumulated other comprehensive loss” and will be reclassified into income over the life of the anticipated debt issuance or in the period the hedged forecasted cash flows are deemed no longer probable to occur. Reclassified gains and losses are recorded within the line item “Interest and other financing expense, net” in the consolidated statements of operations. The fair value of interest rate swaps are estimated using a discounted cash flow analysis on the expected cash flows of each derivative using observable inputs including interest rate curves and credit spreads. In June 2023, the company terminated its outstanding forward-starting interest rate swaps and received a cash payment of $56.7 million, which is reported in the “Cash flows from financing activities” section of the consolidated statements of cash flows. The forecasted transactions related to the swaps continue to be probable to occur by December 31, 2025 and the $56.7 million gain on the termination of the interest rate swaps will remain in "Accumulated other comprehensive loss" on the company's consolidated balance sheets. At December 31, 2022, the company had the following outstanding interest rate swaps designated as cash flow hedges: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Notional Amount Weighted-Average Date Range of Trade Date ​ Maturity Date ​ (thousands) ​ Interest Rate ​ Forecasted Transaction April 2020 ​ December 2024 ​ $ 300,000 ​ 0.97% ​ Jan 2023 - Dec 2025 ​ The company occasionally enters into interest rate swap transactions, designated as fair value hedges, that convert certain fixed-rate debt to variable-rate debt in order to manage its targeted mix of fixed- and floating-rate debt. For qualifying interest rate fair value hedges, gains or losses on derivatives are included in “Interest and other financing expense, net” in the consolidated statements of operations. The change in fair value of the hedged item attributable to the risk being hedged is reported as an adjustment to its carrying value and is also included in “Interest and other financing expense, net”. When a derivative is no longer designated as a hedge, any remaining difference between the carrying value and par value of the hedged item is amortized in “Interest and other financing expense, net” over the remaining life of the hedged item using the effective interest method. ​ At December 31, 2023, the company had one outstanding interest rate swap designated as a fair value hedge, the terms of which are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Notional Amount Interest Rate due Interest Rate due to Trade Date ​ Maturity Date ​ (thousands) ​ from Counterparty ​ Counterparty February 2023 ​ March 2026 ​ $ 500,000 ​ 6.125% ​ SOFR+0.508% ​ The counterparty to the interest rate swap has the option to cancel the swaps after one year, without penalty. ​ Foreign Exchange Contracts The company’s foreign currency exposure relates primarily to international transactions where the currency collected from customers can be different from the currency used to purchase the product. The company’s primary exposures to such transactions are denominated primarily in the following currencies: Euro, Indian Rupee, and Canadian Dollar. The company enters into foreign exchange forward, option, or swap contracts (collectively, the “foreign exchange contracts”) to facilitate the hedging of foreign currency exposures resulting from inventory purchases and sales and mitigate the impact of changes in foreign currency exchange rates related to these transactions. Foreign exchange contracts generally have terms of no more than six months. The company does not enter into foreign exchange contracts for trading purposes. The risk of loss on a foreign exchange contract is the risk of nonperformance by the counterparties, which the company minimizes by limiting its counterparties to major financial institutions. The fair value of the foreign exchange contracts is estimated using foreign currency spot rates and forward rates quotes by third-party financial institutions. The notional amount of the foreign exchange contracts inclusive of foreign exchange contracts designated as a net investment hedge at December 31, 2023 and 2022 was $1.0 billion and $1.3 billion, respectively. Gains and losses related to non-designated foreign currency exchange contracts are recorded in “Cost of sales” on the company’s consolidated statements of operations. Gains and losses related to foreign currency exchange contracts designated as cash flow hedges are recorded in “Cost of sales,” “Selling, general, and administrative expenses,” and “Interest and other financing expense, net” based upon the nature of the underlying hedged transaction, on the company’s consolidated statements of operations. Gains or losses on these contracts are deferred and recognized when the underlying future purchase or sale is recognized or when the corresponding asset or liability is revalued, and were not material to the financial statements for the periods presented. The following foreign exchange contracts were designated as net investment hedges, hedging a portion of the company's net investments in subsidiaries with Euro-denominated net assets for the years ended December 31: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Notional Amount (thousands) Maturity Date ​ 2023 ​ 2022 March 2023 ​ EUR - ​ EUR 50,000 September 2024 ​ EUR 50,000 EUR 50,000 April 2025 ​ EUR 100,000 EUR 100,000 January 2028 ​ EUR 100,000 EUR 100,000 Total ​ EUR 250,000 EUR 300,000 ​ The change in the fair value of derivatives designated as net investment hedges are recorded in “foreign currency translation adjustment” (“CTA”) within “Accumulated other comprehensive loss” on the company’s consolidated balance sheets. Amounts excluded from the assessment of hedge effectiveness are included in “Interest and other financing expense, net” on the company’s consolidated statements of operations. During the first quarter of 2023, a foreign exchange contract designated as a net investment hedge matured and the company received $10.7 million, which is reported in the “Cash flows from investing activities” section of the consolidated statements of cash flows. ​ The effects of derivative instruments on the company’s consolidated statements of operations and other comprehensive income are as follows for the years ended December 31: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (thousands) Income Statement Line 2023 2022 2021 Gain (Loss) Recognized in Income (Loss) ​ ​ ​ Foreign exchange contracts, net investment hedge (a) Interest Expense ​ $ 7,460 ​ $ 8,805 ​ $ 8,805 Interest rate swaps, cash flow hedge Interest Expense ​ (2,889) ​ (3,586) ​ (3,087) Interest rate swap, fair value hedge Interest Expense ​ (454) ​ — ​ — Total ​ $ 4,117 ​ $ 5,219 ​ $ 5,718 Gain (Loss) Recognized in Other Comprehensive Income (Loss) before reclassifications, net of tax ​ ​ ​ Foreign exchange contracts, net investment hedge (b) ​ $ (2,276) ​ $ 15,474 ​ $ 21,133 Interest rate swaps, cash flow hedge ​ 585 ​ 25,937 ​ 19,232 Total ​ $ (1,691) ​ $ 41,411 ​ $ 40,365 (a) Represents derivative amounts excluded from the assessment of effectiveness for the net investment hedges reclassified from CTA to “Interest and other financing expenses, net”. (b) Includes derivative (losses) gains excluded from the assessment of effectiveness for the net investment hedges and recognized in other comprehensive income, net of tax, of $(1.8) million, $1.8 million, and $(0.6) million for 2023, 2022, and 2021, respectively, which were excluded from the assessment of effectiveness for the net investment hedges and recognized in other comprehensive income (loss), net of tax. Other The carrying amount of “cash and cash equivalents”, “accounts receivable, net”, and “accounts payable” approximate their fair value due to the short maturities of these financial instruments.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2023
Income Taxes
Income Taxes	8. Income Taxes The provision for income taxes for the years ended December 31 consists of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (thousands) 2023 2022 2021 Current: ​ ​ ​ Federal ​ $ 33,832 ​ $ 139,730 ​ $ 68,555 State ​ 16,108 ​ 29,117 ​ 18,418 International ​ 299,031 ​ 293,195 ​ 214,184 ​ ​ $ 348,971 ​ $ 462,042 ​ $ 301,157 Deferred: ​ ​ ​ Federal ​ $ (59,342) ​ $ (39,658) ​ $ (347) State ​ (11,960) ​ (5,613) ​ (388) International ​ (22,678) ​ 32,221 ​ 25,484 ​ ​ (93,980) ​ (13,050) ​ 24,749 ​ ​ $ 254,991 ​ $ 448,992 ​ $ 325,906 ​ The principal causes of the difference between the U.S. federal statutory tax rate of 21% and effective income tax rates for the years ended December 31 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (thousands) 2023 2022 2021 United States ​ $ (38,848) ​ $ 517,642 ​ $ 339,499 International ​ 1,203,202 ​ 1,366,508 ​ 1,096,875 Income before income taxes ​ $ 1,164,354 ​ $ 1,884,150 ​ $ 1,436,374 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Provision at statutory tax rate ​ $ 244,514 ​ $ 395,672 ​ $ 301,638 State taxes, net of federal benefit ​ 2,379 ​ 18,675 ​ 14,162 International effective tax rate differential ​ 27,993 ​ 26,210 ​ (5,402) Change in valuation allowance ​ (7,755) ​ (6,378) ​ (1,723) Other non-deductible expenses ​ 2,993 ​ 7,441 ​ 9,058 Changes in tax accruals ​ 1,153 ​ 5,993 ​ 9,937 Tax credits ​ (7,666) ​ 980 ​ (17,555) U.S. tax (benefit) on foreign earnings ​ ​ (10,075) ​ ​ 3,879 ​ ​ 10,289 Other ​ 1,455 ​ (3,480) ​ 5,502 Provision for income taxes ​ $ 254,991 ​ $ 448,992 ​ $ 325,906 ​ The company is subject to taxation of global intangible low-taxed income (“GILTI”) on foreign subsidiaries and a tax provision to deduct a portion of foreign-derived intangible income (“FDII”) of U.S. corporations. GILTI tax expense, accounted for as a current period cost, net of FDII benefit, resulted in a net tax expense (benefit) of $23.0 million, ($7.4) million, and ($12.3) million during 2023, 2022, and 2021, respectively. As of December 31, 2023, a long-term tax payable of $6.9 million was recorded in the consolidated balance sheets for a one-time transition tax on the foreign subsidiaries’ accumulated unremitted earnings related to the 2017 U.S. Tax Cuts and Jobs Act. At December 31, 2023, the company had a liability for unrecognized tax positions of $82.8 million. The timing of the resolution of these uncertain tax positions is dependent on the tax authorities’ income tax examination processes. Material changes are not expected; however, it is possible that the amount of unrecognized tax benefits with respect to uncertain tax positions could increase or decrease during 2024. Currently, the company is unable to make a reasonable estimate of when tax cash settlement would occur and how it would impact the effective tax rate. A reconciliation of the beginning and ending amount of unrecognized tax benefits for the years ended December 31 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (thousands) 2023 2022 2021 Balance at beginning of year ​ $ 75,666 ​ $ 71,422 ​ $ 62,203 Additions based on tax positions taken during a prior period ​ 7,466 ​ 6,760 ​ 2,528 Reductions based on tax positions taken during a prior period ​ (4,448) ​ (3,007) ​ (1,542) Additions based on tax positions taken during the current period ​ 5,505 ​ 3,526 ​ 9,326 Reductions based on tax positions taken during the current period ​ — ​ — ​ (370) Reductions related to settlement of tax matters ​ — ​ (2,271) ​ (692) Reductions related to a lapse of applicable statute of limitations ​ (1,381) ​ (764) ​ (31) Balance at end of year ​ $ 82,808 ​ $ 75,666 ​ $ 71,422 ​ Interest costs related to unrecognized tax benefits are classified as a component of “Interest and other financing expense, net” in the company’s consolidated statements of operations. In 2023, 2022, and 2021, the company recognized $4.0 million, $4.4 million, and $1.3 million, respectively, of interest expense related to unrecognized tax benefits. At December 31, 2023 and 2022, the company had accrued a liability of $17.5 million and $13.5 million, respectively, for interest related to unrecognized tax benefits. In many cases the company’s uncertain tax positions are related to tax years that remain subject to examination by tax authorities. The following describes the open tax years, by major tax jurisdiction, as of December 31, 2023: ​ ​ ​ ​ ​ United States - Federal ​ 2016 - present United States - States ​ 2015 - present Germany (a) ​ 2015 - present China and Hong Kong ​ 2016 - present Italy (a) ​ 2013 - present Netherlands ​ 2018 - present Sweden ​ 2018 - present Taiwan ​ 2018 - present United Kingdom ​ 2019 - present (a) Includes federal as well as local jurisdictions. Deferred income taxes are provided for the effects of temporary differences between the tax basis of an asset or liability and its reported amount in the consolidated balance sheets. These temporary differences result in taxable or deductible amounts in future years. Deferred tax assets and liabilities consist of the following at December 31: ​ ​ ​ ​ ​ ​ ​ ​ (thousands) 2023 2022 Deferred tax assets: ​ ​ Net operating loss carryforwards ​ $ 17,987 ​ $ 18,409 Capital loss carryforwards ​ — ​ 56,618 Inventory adjustments ​ 68,542 ​ 46,188 Allowance for credit losses ​ 27,637 ​ 25,779 Accrued expenses ​ 73,251 ​ 35,940 Interest carryforward ​ 4,170 ​ 4,014 Stock-based compensation awards ​ 5,692 ​ 7,559 Lease liability ​ 68,605 ​ 71,415 Research and experimentation costs (a) ​ 59,277 ​ 33,426 Other ​ 3,332 ​ — ​ ​ 328,493 ​ 299,348 Valuation allowance ​ (15,832) ​ (75,842) Total deferred tax assets ​ $ 312,661 ​ $ 223,506 ​ ​ ​ ​ ​ ​ ​ Deferred tax liabilities: ​ ​ Goodwill ​ $ (152,551) ​ $ (144,287) Depreciation ​ (58,419) ​ (76,527) Intangible assets ​ — ​ (3,042) Lease right-of-use assets ​ (64,937) ​ (66,775) Other comprehensive income items ​ (13,204) ​ (9,842) Other ​ — ​ (3,002) Total deferred tax liabilities ​ $ (289,111) ​ $ (303,475) Total net deferred tax assets (liabilities) ​ $ 23,550 ​ $ (79,969) (a) At December 31, 2023, and 2022, the company recorded deferred tax asset of $59.3 million and $33.4 million related to capitalized U.S. based research and experimental (“R&E”) costs, pursuant to the U.S. Internal Revenue Code Section 174, as amended by the 2017 U.S. Tax Cuts and Jobs Act. At December 31, 2023, the company had international tax loss carryforwards of approximately $31.8 million, of which $5.1 million have expiration dates ranging from 2024 to 2043, and the remaining $26.7 million have no expiration date. Deferred tax assets related to these international tax loss carryforwards were $9.2 million with a corresponding valuation allowance of $2.6 million. At December 31, 2023, the company had a valuation allowance of $0.2 million related to other deferred tax assets. As of December 31, 2023, the company had deferred tax assets of approximately $8.8 million with a corresponding valuation allowance of $6.7 million, related to U.S. state net operating loss carryforwards. Valuation allowances are needed when deferred tax assets may not be realized due to the uncertainty of the timing and the ability of the company to generate sufficient future taxable income in certain tax jurisdictions. At December 31, 2023, the company had approximately $4.8 billion in undistributed foreign earnings which it deems to be indefinitely reinvested, and approximately $2.1 billion in undistributed foreign earnings which it deems to be not permanently reinvested. The company recognizes that if it reverses its indefinite reinvestment assertion on $4.8 billion of foreign earnings, it may be subject to additional foreign taxes and U.S. state income taxes. ​ Income taxes paid, net of income taxes refunded, amounted to $538.4 million, $384.4 million, and $221.1 million in 2023, 2022, and 2021, respectively.

Restructuring, Integration, and

Restructuring, Integration, and Other Charges	12 Months Ended
	Dec. 31, 2023
Restructuring, Integration, and Other Charges
Restructuring, Integration, and Other Charges	9. Restructuring, Integration, and Other Charges Restructuring initiatives and integration costs are due to the company’s continued efforts to lower costs, drive operational efficiency, integrate acquired businesses, and the consolidation of certain operations, as necessary. The following table presents the components of the restructuring, integration, and other charges for the years ended December 31: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (thousands) 2023 2022 2021 Restructuring and integration charges ​ $ 8,877 ​ $ 6,994 ​ $ 16,673 Other charges (credits) ​ 75,039 ​ 6,747 ​ (1,280) ​ ​ $ 83,916 ​ $ 13,741 ​ $ 15,393 ​ Restructuring and Integration Accruals The following table presents the activity in the restructuring and integration accruals for the year ended December 31, 2023: ​ ​ ​ ​ ​ (thousands) ​ Total Balance at December 31, 2022 ​ $ 6,929 Restructuring and integration charges ​ 8,877 Payments ​ (9,371) Foreign currency translation ​ ​ (548) Balance at December 31, 2023 ​ $ 5,887 ​ Substantially all amounts accrued at December 31, 2023, and all restructuring and integration charges for the year ending December 31, 2023 relate to the termination of personnel and are expected to be spent in cash within one year Other Charges (Credits) Other charges for 2023 include $29.4 million related to early lease terminations, $23.3 million related to an increase in environmental liabilities (see Note 15) and personnel charges of $19.1 million related to operating expense reduction initiatives.

Shareholders' Equity

Shareholders' Equity	12 Months Ended
	Dec. 31, 2023
Shareholders' Equity
Shareholders' Equity	10. Shareholders’ Equity Accumulated Other Comprehensive Loss The following table presents the changes in Accumulated other comprehensive loss, excluding noncontrolling interests: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gain Gain ​ ​ ​ ​ ​ ​ ​ ​ ​ (Loss) on Foreign ​ (Loss) on ​ ​ ​ ​ ​ ​ ​ ​ Foreign ​ Exchange ​ Interest Rate ​ ​ ​ ​ ​ ​ ​ ​ Currency ​ Contracts ​ Swaps ​ ​ ​ ​ ​ ​ ​ ​ Translation ​ Designated as ​ Designated as ​ Employee ​ ​ ​ ​ ​ Adjustment and ​ Net Investment ​ Cash Flow ​ Benefit Plan ​ ​ ​ (thousands) ​ Other, Net ​ Hedges, Net ​ Hedges, Net ​ Items, Net ​ Total Balance as of December 31, 2021 ​ $ (192,939) ​ $ 11,332 ​ $ (809) ​ $ (9,241) ​ $ (191,657) Other comprehensive income (loss) before reclassifications (a) ​ (228,303) ​ 15,474 ​ 25,937 ​ 17,245 ​ (169,647) Amounts reclassified into income ​ (1,469) ​ (6,695) ​ 2,727 ​ 1,479 ​ (3,958) Net change in accumulated other comprehensive income (loss) for the year ended December 31, 2022 ​ (229,772) ​ 8,779 ​ 28,664 ​ 18,724 ​ (173,605) Balance as of December 31, 2022 ​ (422,711) ​ 20,111 ​ 27,855 ​ 9,483 ​ (365,262) Other comprehensive income (loss) before reclassifications (a) ​ 72,949 ​ (2,276) ​ 585 ​ (1,011) ​ 70,247 Amounts reclassified into income ​ 720 ​ (5,676) ​ 2,198 ​ (266) ​ (3,024) Net change in accumulated other comprehensive income (loss) for the year ended December 31, 2023 ​ 73,669 ​ (7,952) ​ 2,783 ​ (1,277) ​ 67,223 Balance as of December 31, 2023 ​ $ (349,042) ​ $ 12,159 ​ $ 30,638 ​ $ 8,206 ​ $ (298,039) (a) Foreign currency translation adjustment includes intra-entity foreign currency transactions that are of a long-term investment nature of $21.2 million and ($21.6) million for 2023 and 2022, respectively. Common Stock Outstanding Activity The following table sets forth the activity in the number of shares outstanding: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Common ​ ​ Common ​ Treasury ​ Stock (thousands) ​ Stock Issued ​ Stock ​ Outstanding Common stock outstanding at December 31, 2020 125,424 50,581 74,843 Shares issued for stock-based compensation awards — (945) 945 Repurchases of common stock — 7,722 (7,722) Common stock outstanding at December 31, 2021 125,424 57,358 68,066 Shares issued for stock-based compensation awards — (525) 525 Repurchases of common stock — 9,342 (9,342) Common stock outstanding at December 31, 2022 125,424 66,175 59,249 Shares issued for stock-based compensation awards — (653) 653 Repurchases of common stock — 6,091 (6,091) Retirement of treasury shares ​ (67,733) ​ (67,733) ​ — Common stock outstanding at December 31, 2023 57,691 3,880 53,811 ​ During the year ended December 31, 2023, the company retired 67.7 million shares of treasury stock with a cost of $5.1 billion. The company has 2.0 billion authorized shares of serial preferred stock with a par value of one dollar. There were no shares of serial preferred stock outstanding at December 31, 2023 and 2022. Share-Repurchase Programs The following table shows the company’s share-repurchase programs as of December 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Approximate ​ ​ ​ ​ ​ ​ Dollar Value of ​ ​ Dollar Value ​ Dollar Value of ​ Shares that May ​ ​ Approved for ​ Shares ​ Yet be Purchased Share-Repurchase Details by Month of Board Approval (thousands) ​ Repurchase ​ Repurchased ​ Under the Program July 2021 ​ $ 600,000 ​ $ 600,000 ​ $ — December 2021 ​ 600,000 ​ 600,000 ​ — September 2022 ​ 600,000 ​ 600,000 ​ — January 2023 ​ ​ 1,000,000 ​ ​ 423,846 ​ ​ 576,154 Total (a) ​ $ 2,800,000 ​ $ 2,223,846 ​ $ 576,154 (a) The dollar value of shares repurchased includes an accrual of $6.6 million for excise taxes during 2023 which is recorded within “Treasury Stock” on the company’s consolidated balance sheets. ​ The company repurchased 6.1 million shares and 9.3 million shares of common stock for $745.9 million and $1.0 billion, in 2023 and 2022, respectively, under the share-repurchase program excluding excise taxes. On January 31, 2023, the company’s Board of Directors approved a $1.0 billion increase to the company’s share-repurchase program. As of December 31, 2023, approximately $576.2 million remained available for repurchase under the share-repurchase program. The company’s share-repurchase program does not have an expiration date.

Net Income Per Share

Net Income Per Share	12 Months Ended
	Dec. 31, 2023
Net Income Per Share
Net Income per Share	11. Net Income Per Share The following table presents the computation of net income per share on a basic and diluted basis for the years ended December 31: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (thousands except per share data) 2023 2022 2021 Net income attributable to shareholders ​ $ 903,505 ​ $ 1,426,884 ​ $ 1,108,197 Weighted-average shares outstanding - basic ​ 56,359 ​ 64,838 ​ 72,472 Net effect of various dilutive stock-based compensation awards ​ 676 ​ 615 ​ 913 Weighted-average shares outstanding - diluted ​ 57,035 ​ 65,453 ​ 73,385 Net income per share: ​ ​ ​ Basic ​ $ 16.03 ​ $ 22.01 ​ $ 15.29 Diluted (a) ​ $ 15.84 ​ $ 21.80 ​ $ 15.10 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (a) Equity awards excluded from diluted net income per share as their effect would have been anti-dilutive ​ ​ 32 ​ ​ 53 ​ ​ — ​

Employee Stock Plans

Employee Stock Plans	12 Months Ended
	Dec. 31, 2023
Employee Stock Plans
Employee Stock Plans	12. Employee Stock Plans Omnibus Plan The company maintains the Arrow Electronics, Inc. 2004 Omnibus Incentive Plan (the “Omnibus Plan”), which provides an array of equity alternatives available to the company when designing compensation incentives. The Omnibus Plan permits the grant of cash-based awards, non-qualified stock options, incentive stock options (“ISOs”), stock appreciation rights, restricted stock, restricted stock units, performance shares, performance units, covered employee annual incentive awards, and other stock-based awards. The Compensation Committee of the company’s Board of Directors (the “Compensation Committee”) determines the vesting requirements, termination provision, and the terms of the award for any awards under the Omnibus Plan when such awards are issued. Under the terms of the Omnibus Plan, a maximum of 24.0 million shares of common stock may be awarded. There were 5.0 million shares and 5.6 million shares available for grant under the Omnibus Plan as of December 31, 2023 and 2022, respectively. Generally, shares are counted against the authorization only to the extent that they are issued. Restricted stock, restricted stock units, performance shares, and performance units count against the authorization at a rate of 1.69 to 1. The company records share-based payment awards exchanged for employee services at fair value on the date of grant and expenses the awards in the consolidated statements of operations on a straight-line basis over the requisite employee service period. Stock-based compensation expense includes an estimate for forfeitures. The company recorded, as a component of “Selling, general, and administrative expenses,” amortization of stock-based compensation of $41.6 million, $42.9 million, and $36.1 million in 2023, 2022, and 2021, respectively. The actual tax benefit realized from share-based payment awards during 2023, 2022, and 2021 was $8.9 million, $5.9 million, and $8.6 million, respectively. Stock Options Under the Omnibus Plan, the company may grant both ISOs and non-qualified stock options. ISOs may only be granted to employees of the company, its subsidiaries, and its affiliates. The exercise price for options cannot be less than the fair market value of Arrow’s common stock on the date of grant. Options generally vest in equal installments over a four-year period. Options currently outstanding have contractual terms of ten years. The company did not grant non-qualified stock options or ISOs since 2020 and does not intend to grant them in the future. The following information relates to the stock option activity for the year ended December 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted- ​ ​ ​ ​ ​ ​ Weighted- ​ Average ​ Aggregate ​ ​ ​ ​ Average ​ Remaining ​ Intrinsic ​ ​ ​ ​ Exercise ​ Contractual ​ Value ​ ​ Shares ​ Price ​ Life ​ (thousands) Outstanding at December 31, 2022 568,319 ​ $ 76.65 ​ Exercised (235,612) ​ 74.75 ​ Forfeited (10,455) ​ 79.28 ​ Outstanding at December 31, 2023 322,252 ​ 76.73 55 months ​ $ 14,668 Exercisable at December 31, 2023 272,555 ​ $ 76.28 52 months ​ $ 12,529 ​ The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value (the difference between the company’s closing stock price on the last trading day of 2023 and the exercise price, multiplied by the number of in-the-money options) received by the option holders had all option holders exercised their options on December 31, 2023. This amount changes based on the market value of the company’s stock. The total intrinsic value of options exercised during 2023, 2022, and 2021 was $12.5 million, $10.0 million, and $26.6 million, respectively. Cash received from option exercises during 2023, 2022, and 2021 was $17.0 million, $17.3 million, and $47.0 million, respectively, and is included within the financing activities section in the company’s consolidated statements of cash flows. Performance Awards The Compensation Committee, subject to the terms and conditions of the Omnibus Plan, may grant performance share and/or performance unit awards (collectively “performance awards”). The grant date fair value of a performance award is the fair market value of the company’s common stock on the date of grant. Such awards will be earned only if performance goals over performance periods established by or under the direction of the Compensation Committee are met. The performance goals and periods may vary from participant-to-participant, group-to-group, and time-to-time. The performance awards will be delivered in common stock at the end of the service period based on the company’s actual performance compared to the target metric and may be from 0% to 185% of the initial award. Compensation expense is recognized using the graded vesting method over the three-year service period and is adjusted each period based on the current estimate of performance compared to the target metric. Restricted Stock Subject to the terms and conditions of the Omnibus Plan, the Compensation Committee may grant shares of restricted stock and/or restricted stock units. The grant date fair value of a restricted stock unit is the fair market value of the company’s common stock on the date of grant. Restricted stock units are similar to restricted stock except that no shares are actually awarded to the participant on the date of grant. Shares of restricted stock and/or restricted stock units awarded under the Omnibus Plan may not be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated until the end of the applicable period of restriction established by the Compensation Committee and specified in the award agreement (and in the case of restricted stock units until the date of delivery or other payment). Compensation expense is recognized on a straight-line basis as shares become free of forfeiture restrictions (i.e. vest) generally over a four-year period. Non-Employee Director Awards The company’s Board shall set the amounts and types of equity awards that shall be granted to all non-employee directors on a periodic, nondiscriminatory basis pursuant to the Omnibus Plan, as well as any additional amounts, if any, to be awarded, also on a periodic, nondiscriminatory basis, based on each of the following: the number of committees of the Board on which a non-employee director serves, service of a non-employee director as the chair of a Committee of the Board, service of a non-employee director as Chairman of the Board or Lead Independent Director, or the first selection or appointment of an individual to the Board as a non-employee director. As of May 2023, non-employee directors receive annual awards of restricted stock units valued at $0.2 million with an additional amount for the non-employee director serving as board chair. Starting in 2022, the restricted stock units have a vesting period of one-year. All restricted stock units are settled in common stock following the director’s separation from the Board. Unless a non-employee director gives notice setting forth a different percentage, 50% of each director’s annual retainer fee is deferred and converted into units based on the fair market value of the company’s stock as of the date it was payable. A non-employee director can choose between one-year cliff vesting or keep the deferral until separation from the Board provided such director continuously served on the Board from the grant date through the vesting date. After separation from the Board, the deferral will be converted into a share of company stock and distributed to the non-employee director as soon as practicable following such date. Summary of Non-Vested Shares The following information summarizes the changes in non-vested performance shares, performance units, restricted stock, and restricted stock units for 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted- ​ ​ ​ ​ Average Grant ​ ​ Shares ​ Date Fair Value Non-vested shares at December 31, 2022 927,662 ​ $ 103.61 Granted 415,001 ​ 117.91 Vested (463,056) ​ 77.18 Forfeited (59,387) ​ 114.78 Non-vested shares at December 31, 2023 820,220 ​ $ 124.95 ​ The total fair value of shares vested during 2023, 2022, and 2021 was $50.9 million, $47.3 million, and $37.3 million, respectively. As of December 31, 2023, there was $33.9 million of total unrecognized compensation cost related to non-vested shares and stock options which is expected to be recognized over a weighted-average period of 2.2 years.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2023
Employee Benefit Plans
Employee Benefit Plans	13. Employee Benefit Plans The company maintains an unfunded Arrow supplemental executive retirement plan (“SERP”) under which the company will pay supplemental pension benefits to certain employees upon retirement. As of December 31, 2023, there were 12 current and 25 former corporate officers participating in this plan. The Board determines those employees who are eligible to participate in the Arrow SERP. The Arrow SERP, as amended, provides for the pension benefits to be based on a percentage of average final compensation, based on years of participation in the Arrow SERP. The Arrow SERP permits early retirement, with payments at a reduced rate, based on age and years of service subject to a minimum retirement age of 55. The company uses a December 31 measurement date for the Arrow SERP benefit plan. Pension information for the years ended December 31 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Arrow SERP (thousands) 2023 2022 Accumulated benefit obligation ​ $ 77,737 ​ $ 74,438 ​ Changes in projected benefit obligation: ​ ​ ​ Projected benefit obligation at beginning of year ​ 84,148 ​ 105,474 ​ Service cost ​ 3,250 ​ 3,296 ​ Interest cost ​ 4,082 ​ 2,782 ​ Actuarial loss (gain) ​ 1,328 ​ (25,709) ​ Benefits paid ​ (4,724) ​ (4,724) ​ Plan amendments ​ — ​ 3,029 ​ Projected benefit obligation at end of year ​ 88,084 ​ 84,148 ​ Funded status ​ $ (88,084) ​ $ (84,148) ​ Amounts recognized in the company's consolidated balance sheets: ​ ​ ​ Current liabilities ​ $ (6,186) ​ $ (5,084) ​ Noncurrent liabilities ​ (81,898) ​ (79,064) ​ Net liability at end of year ​ $ (88,084) ​ $ (84,148) ​ Components of net periodic pension cost: ​ ​ ​ Service cost ​ $ 3,250 ​ $ 3,296 ​ Interest cost ​ 4,082 ​ 2,782 ​ Amortization of prior service cost ​ ​ 336 ​ ​ — ​ Amortization of net loss ​ (668) ​ 776 ​ Net periodic pension cost ​ $ 7,000 ​ $ 6,854 ​ Weighted-average assumptions used to determine benefit obligation: ​ ​ ​ Discount rate ​ 4.80 % 5.00 % Rate of compensation increase ​ 5.00 % 5.00 % Expected return on plan assets ​ N/A ​ N/A ​ Weighted-average assumptions used to determine net periodic pension cost: ​ ​ ​ Discount rate ​ 5.00 % 2.70 % Rate of compensation increase ​ 5.00 % 5.00 % Expected return on plan assets ​ N/A ​ N/A ​ ​ The amounts reported for net periodic pension cost and the respective benefit obligation amounts are dependent upon the actuarial assumptions used. The company reviews historical trends, future expectations, current market conditions, and external data to determine the assumptions. The discount rate represents the market rate for a high-quality corporate bond. The rate of compensation increase is determined by the company, based upon its long-term plans for such increases. The actuarial assumptions used to determine the net periodic pension cost are based upon the prior year’s assumptions used to determine the benefit obligation. Benefit payments are expected to be paid as follows: ​ ​ ​ ​ ​ (thousands) Arrow SERP 2024 ​ $ 6,186 2025 ​ 6,076 2026 ​ 6,238 2027 ​ 6,109 2028 ​ 6,136 2029 - 2033 ​ 36,358 ​ As of December 31, 2023, the company had designated $114.9 million in assets to cover the ongoing costs of SERP payouts for both current and former executives. These assets were comprised primarily of life insurance policies and mutual fund investments, and $111.2 million of these investments were held in a rabbi trust. Contributions to the rabbi trust are irrevocable by the company. In the event of bankruptcy by the company, the assets held by the rabbi trust are subject to claims made by the company’s creditors. Other Comprehensive Income Items In 2023, 2022, and 2021, actuarial (losses) gains of $(1.0) million, $19.5 million, and $4.2 million, respectively, were recognized in other comprehensive income, net of related taxes, related to the Arrow SERP. In 2022, prior service (costs) of $(2.3) million were recognized in other comprehensive income, net of taxes. In 2023, 2022, and 2021, a reclassification adjustment of comprehensive income was recognized, net of related taxes, as a result of being recognized in net periodic pension cost for an actuarial (gain) loss of $(0.5) million, $0.6 million, and $1.9 million, respectively. In 2023, a reclassification adjustment of comprehensive income was recognized, net of related taxes, as a result of being recognized in net periodic pension cost for prior service costs of $0.3 million. Accumulated other comprehensive income (loss) at December 31, 2023 and 2022 includes unrecognized actuarial gains, net of related taxes, of $7.3 million and $8.8 million, respectively, that have not yet been recognized in net periodic pension cost. Accumulated other comprehensive income (loss) at December 31, 2023 includes prior service (costs), net of related taxes, of $2.0 million that have not yet been recognized in net periodic pension cost. Defined Contribution Plans The company has defined contribution plans for eligible employees, which qualify under Section 401(k) of the Internal Revenue Code. The company’s contribution to the plans, which are based on a specified percentage of employee contributions, amounted to $21.2 million, $20.3 million, and $19.1 million in 2023, 2022, and 2021, respectively. Certain international subsidiaries maintain separate defined contribution plans for their employees and made contributions thereunder, which amounted to $22.6 million, $22.1 million, and $23.0 million in 2023, 2022, and 2021, respectively.

Lease Commitments

Lease Commitments	12 Months Ended
	Dec. 31, 2023
Lease Commitments
Lease Commitments	14. Lease Commitments The company leases certain offices, distribution centers, and other property under non-cancellable operating leases expiring at various dates through 2032. Substantially all leases are classified as operating leases. The company recorded operating lease costs of $93.4 million, $92.0 million, and $97.4 million in 2023, 2022, and 2021, respectively. During 2023, the company recorded net charges of $29.4 million related to early lease terminations in “Restructuring, integration, and other charges” on the company’s consolidated statements of operations. The following amounts were recorded in the consolidated balance sheets at December 31: ​ ​ ​ ​ ​ ​ ​ ​ (thousands) 2023 2022 Operating Leases ​ ​ Right-of-use asset ​ $ 269,524 ​ $ 277,554 ​ ​ ​ ​ ​ ​ ​ Lease liability - current ​ 74,232 ​ 69,469 Lease liability - non-current ​ 210,110 ​ 227,044 Total operating lease liabilities ​ $ 284,342 ​ $ 296,513 ​ Maturities of operating lease liabilities at December 31 were as follows: ​ ​ ​ ​ ​ (thousands) 2023 2024 ​ $ 83,637 2025 ​ 64,042 2026 ​ 50,696 2027 ​ 41,223 2028 ​ 33,491 Thereafter ​ 47,675 Total lease payments ​ 320,764 Less: imputed interest ​ (36,422) Total ​ $ 284,342 ​ Other information pertaining to leases consists of the following for the year ended December 31: ​ ​ ​ ​ ​ ​ ​ ​ ​ (thousands) 2023 2022 Supplemental Cash Flow Information ​ ​ ​ Cash paid for amounts included in the measurement of operating lease liabilities ​ $ 91,797 ​ $ 88,235 ​ Right-of-use assets obtained in exchange for operating lease obligations ​ 74,356 ​ 104,210 ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating Lease Term and Discount Rate ​ ​ ​ Weighted-average remaining lease term in years ​ 5 years ​ 6 years ​ Weighted-average discount rate ​ 4.6% ​ 4.3% ​ ​

Contingencies

Contingencies	12 Months Ended
	Dec. 31, 2023
Contingencies
Contingencies	15. Contingencies Environmental Matters In connection with the purchase of Wyle Electronics (“Wyle”) in August 2000, the company entered into a settlement agreement under which the company accepted responsibility for any potential subsequent costs incurred for environmental clean-up associated with any then-existing contamination or violation of environmental regulations. The company is aware of two facilities (in Huntsville, Alabama (the “Huntsville Site”) and Norco, California (the “Norco Site”)) at which contaminated soil and groundwater was identified and required environmental remediation. As successor-in-interest to Wyle, the company is the beneficiary of various Wyle insurance policies that covered liabilities arising out of operations at Norco and Huntsville. To date, the company has recovered approximately $47.2 million from certain insurance carriers relating to environmental clean-up matters at the Norco and Huntsville sites, and continues to pursue additional recoveries from one insurer related solely to the Huntsville site. The company has not recorded a receivable for any potential future insurance recoveries related to the Norco and Huntsville environmental matters, as the realization of the claims for recovery are not deemed probable at this time. Costs are recorded for environmental matters when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated. Environmental liabilities are included in “Accrued expenses” and “Other liabilities” on the company’s consolidated balance sheets. The company has determined that there is no amount within the environmental liability ranges discussed below that is a better estimate than any other amount, and therefore has recorded the accruals at the minimum amount of the ranges. The liabilities were estimated based on current costs and are not discounted. The costs related to these environmental matters (referred to as “environmental costs”) include remediation, project management, regulatory oversight, and investigative and feasibility study activities. The company expects the liabilities associated with such ongoing remediation to be resolved over an extended period of time and the accruals for environmental liabilities are adjusted periodically as facts and circumstances change, assessment and remediation efforts progress, or as additional technical or legal information becomes available. Environmental liabilities are difficult to assess and estimate due to various unknown factors such as the timing and extent of remediation, improvements in remediation technologies, orders by administrative agencies, and the extent to which environmental laws and regulations may change in the future. Accordingly, the company cannot presently estimate the ultimate potential costs related to the Huntsville and Norco sites. The company recorded charges of $23.3 million and $2.5 million during 2023 and 2022, respectively, related to increases in the environmental liabilities for the Norco and Huntsville sites. These costs are included in “Restructuring, integration, and other charges” on the company’s consolidated statements of operations. Environmental Matters - Huntsville In February 2015, the company and the Alabama Department of Environmental Management (“ADEM”) finalized and executed a consent decree in connection with the Huntsville Site. Characterization of the extent of contaminated soil and groundwater is complete and has been approved by ADEM. Health-risk evaluations and a Corrective Action Development Plan were approved by ADEM in 2018, opening the way for pilot testing of on-site remediation in late 2019. Due to the effectiveness of the pilot testing, the pilot testing process has been expanded and remains underway with annual application of bioremediation reagents, semi-annual groundwater monitoring, as well as data collection to direct future bioremediation injections. Approximately $8.7 million has been spent to date. The subsequent environmental costs at the site are estimated to be between $5.7 million and $17.4 million. Environmental Matters - Norco In October 2003, the company entered into a consent decree with Wyle Laboratories and the California Department of Toxic Substance Control (“DTSC”) in connection with the Norco Site. In September 2013, the DTSC approved the final Remedial Action Plan (“RAP”) for actions in five on-site areas and one off-site area. As of 2018, the remediation measures described in the RAP had been implemented. Routine progress monitoring of groundwater and soil gas continue on-site and off-site. Approximately $83.1 million has been spent to date. The subsequent environmental costs at the site are estimated to be between $22.1 million and $38.3 million. It is reasonably possible that the company will need to adjust the liabilities noted above for the Norco and Huntsville sites to reflect the effects of new or additional information, to the extent that such information impacts the costs, timing or duration of the required actions. Future changes in estimates of the costs, timing or duration of the required actions could have a material adverse effect on the company’s consolidated financial position, results of operations or cash flows. Other During 2023 and 2021, the company received $62.2 million and $12.5 million, respectively, in settlement funds From time to time, in the normal course of business, the company may become liable with respect to other pending and threatened litigation, environmental, regulatory, trade compliance, labor, product, and tax matters. While such matters are subject to inherent uncertainties, it is not currently anticipated that any such matters will materially impact the company’s consolidated financial position, liquidity, or results of operations.

Segment and Geographic Informat

Segment and Geographic Information	12 Months Ended
	Dec. 31, 2023
Segment and Geographic Information
Segment and Geographic Information	16. Segment and Geographic Information The company is a global provider of products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions. The company has one of the world’s broadest portfolios of product offerings available from leading electronic components and enterprise computing solutions suppliers, coupled with a range of services, solutions and tools that enables its suppliers to distribute their technologies and help its industrial and commercial customers to source, build upon, and leverage these technologies to grow their businesses, reduce their time to market, and enhance their overall competitiveness. The company is a trusted partner in a complex value chain and is uniquely positioned through its electronics components and IT content portfolios to increase value for stakeholders. ​ The company has two reportable segments, the global components business and the global enterprise computing solutions (“ECS”) business. The company’s global components business, enabled by a comprehensive range of value-added capabilities and services, markets and distributes electronic components to original equipment manufacturers (“OEMs”) and contract manufacturers (“CMs”). The company’s global ECS business is a leading value-added provider of comprehensive computing solutions and services. The global ECS portfolio of computing solutions includes datacenter, cloud, security, and analytics solutions. Global ECS brings broad market access, extensive supplier relationships, scale, and resources to help its value-added resellers (“VARs”) and managed service providers (“MSPs”) meet the needs of their end-users. ​ As a result of the company’s philosophy of maximizing operating efficiencies through the centralization of certain functions, operating income for the reportable segments excludes unallocated corporate overhead costs, depreciation on corporate fixed assets, and restructuring, integration and other costs, as they are not attributable to the individual reportable segments and are included in the corporate line item. ​ Sales, by reportable segment by geographic area, are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (thousands) 2023 2022 2021 Sales: ​ ​ ​ Components: ​ ​ ​ Americas ​ $ 7,954,713 ​ $ 9,592,547 ​ $ 7,827,866 EMEA ​ 8,074,894 ​ 7,627,974 ​ 6,248,846 Asia/Pacific ​ 9,390,292 ​ 11,567,482 ​ 12,280,805 Global components ​ $ 25,419,899 ​ $ 28,788,003 ​ $ 26,357,517 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ECS: ​ ​ ​ Americas ​ $ 4,160,298 ​ $ 4,847,027 ​ $ 4,878,954 EMEA ​ 3,526,923 ​ 3,489,392 ​ 3,240,547 Global ECS ​ $ 7,687,221 ​ $ 8,336,419 ​ $ 8,119,501 Consolidated ​ $ 33,107,120 ​ $ 37,124,422 ​ $ 34,477,018 ​ Sales by country are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (thousands) 2023 2022 2021 Sales: ​ ​ ​ China and Hong Kong ​ $ 4,858,871 ​ $ 6,339,883 ​ $ 7,249,611 Germany ​ 4,341,837 ​ 4,715,806 ​ 4,007,381 Other ​ 12,737,852 ​ 12,901,063 ​ 11,603,832 Total foreign ​ $ 21,938,560 ​ $ 23,956,752 ​ $ 22,860,824 United States ​ 11,168,560 ​ 13,167,670 ​ 11,616,194 Total ​ $ 33,107,120 ​ $ 37,124,422 ​ $ 34,477,018 ​ The company operates in more than 85 countries worldwide. Sales to unaffiliated customers are based on the company location that maintains the customer relationship and transacts the external sale. ​ Operating income (loss), by reportable segment, are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (thousands) 2023 2022 2021 Operating income (loss): ​ ​ ​ Global components (a) ​ $ 1,459,166 ​ $ 1,961,125 ​ $ 1,432,187 Global ECS (b) ​ 367,004 ​ 408,519 ​ 390,103 Corporate (c) ​ (355,006) ​ (301,150) ​ (265,468) Consolidated ​ $ 1,471,164 ​ $ 2,068,494 ​ $ 1,556,822 (a) Global components operating income includes $62.2 million and $12.5 million in settlement charges recorded as a reduction to operating expense for 2023 and 2021, respectively, (refer to Note 15) and $4.5 million in restructuring, integration, and other charges for 2021. ​ (b) Global ECS operating income includes charges to increase the allowance for credit losses, which increased by $24.0 million for 2023, relative to the year-earlier period. ​ (c) Corporate operating loss for the years 2023, 2022, and 2021 includes restructuring, integration, and other charges of $83.9 million, $13.7 million, and $10.9 million, respectively. Total assets, by reportable segment, at December 31 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ (thousands) 2023 2022 Total assets: ​ ​ Global components ​ $ 15,129,190 ​ $ 15,001,624 Global ECS ​ 6,051,459 ​ 6,124,184 Corporate ​ 545,519 ​ 637,374 Consolidated ​ $ 21,726,168 ​ $ 21,763,182 ​ Long-lived assets by country are as follows: ​ ​ ​ ​ ​ ​ ​ ​ (thousands) 2023 2022 Long-lived assets: ​ ​ Netherlands ​ $ 89,199 ​ $ 93,390 France ​ ​ 87,861 ​ ​ 68,048 Other ​ 258,264 ​ 247,823 Total foreign ​ $ 435,324 ​ $ 409,261 United States ​ 364,940 ​ 464,749 Total ​ $ 800,264 ​ $ 874,010 ​

VALUATION AND QUALIFYING ACCOUN

VALUATION AND QUALIFYING ACCOUNTS	12 Months Ended
	Dec. 31, 2023
VALUATION AND QUALIFYING ACCOUNTS
VALUATION AND QUALIFYING ACCOUNTS	ARROW ELECTRONICS, INC. SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning of ​ Charged to ​ ​ ​ ​ ​ ​ ​ Balance at Allowance for credit losses (thousands) ​ Year ​ Income ​ Other (a) ​ Write-down ​ End of Year Year ended December 31, 2023 ​ $ 93,397 ​ $ 71,984 ​ $ 690 ​ $ 19,591 ​ $ 146,480 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2022 ​ $ 75,901 ​ $ 34,590 ​ $ (1,476) ​ $ 15,618 ​ $ 93,397 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2021 ​ $ 92,792 ​ $ 7,039 ​ $ (1,963) ​ $ 21,967 ​ $ 75,901 (a) “Other” primarily includes the effect of fluctuations in foreign currencies and the allowance for credit losses of the businesses acquired and disposed of by the company .

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Summary of Significant Accounting Policies
Principles of Consolidation	Principles of Consolidation The consolidated financial statements of Arrow Electronics, Inc. (the “company” or “Arrow”) include the accounts of the company, its majority-owned subsidiaries, and Arrow EMEA Funding Corp B.V. (see Note 4). All significant intercompany transactions are eliminated.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States (“GAAP”) requires the company to make significant estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash equivalents consist of highly liquid investments, which are readily convertible into cash, with original maturities of three months or less.
Trade Accounts and Notes Receivable	Trade Accounts and Notes Receivable Trade accounts and notes receivable are reported at amortized cost, net of the allowance for credit losses in the consolidated balance sheets. The allowance for credit losses is a valuation account that is deducted from the receivables’ amortized cost basis to present the net amount expected to be collected. Receivables are written off against the allowance when management believes the receivable balance is confirmed to be uncollectible. Management estimates the allowance for credit losses using relevant available information about expected credit losses and an age-based reserve model. Inputs to the model include information about historical credit losses, customer credit ratings, past events, current conditions, and reasonable and supportable forecasts. Adjustments to historical loss information are made for differences in current receivable-specific risk characteristics such as changes in the economic and industry environment, or other relevant factors. Expected credit losses are estimated on a collective (pool) basis, when similar risk characteristics exist, based on customer credit ratings, which include both externally acquired as well as internally determined credit ratings. Receivables that do not share risk characteristics are evaluated on an individual basis.
Inventories	Inventories Inventories are stated at the lower of cost or net realizable value. Cost is determined on a moving average cost basis, which approximates the first-in, first-out method. Substantially all inventories represent finished goods held for sale.
Property, Plant, and Equipment	Property, Plant, and Equipment Property, plant, and equipment are stated at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. The estimated useful lives for depreciation of buildings is generally 20 30 3 10 groups are determined based upon the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. If the carrying value of an asset group cannot be recovered from estimated future cash flows, undiscounted and without interest, the fair value of the asset is calculated using the present value of estimated net future cash flows. If the fair value is less than the carrying amount of the asset, a loss is recognized for the difference, subject to the limitation of individual asset fair values within the group.
Software Development Costs	Software Development Costs The company capitalizes certain internal and external costs incurred to acquire or create internal-use software. Capitalized software costs are amortized on a straight-line basis over the estimated useful life of the software, which is generally 3 12
Identifiable Intangible Assets	Identifiable Intangible Assets Amortization of definite-lived intangible assets is computed using the straight-line method over the estimated useful lives of the assets. Identifiable intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amounts may not be recoverable.
Investments	Investments Investments are accounted for using the equity method if the investment provides the company the ability to exercise significant influence, but not control, over an investee. Significant influence is generally deemed to exist if the company has an ownership interest in the voting stock of the investee between 20% and 50%, although other factors, such as representation on the investee’s Board of Directors, are considered in determining whether the equity method is appropriate. The company records its investments in equity method investees meeting these characteristics as “Investments in affiliated companies” in the company’s consolidated balance sheets. Equity investments for which the company does not possess the ability to exercise significant influence are measured at fair value using quoted market prices, and are included in “Other assets” in the company’s consolidated balance sheets. Changes in fair value are recorded in “Gain (loss) on investments, net” in the company’s consolidated statements of operations. The company records equity investments that do not have readily determinable fair values at cost minus impairment, if any, plus or minus changes resulting from observable price changes.
Goodwill	Goodwill Goodwill represents the excess of the cost of an acquisition over the fair value of the net assets acquired. The company tests goodwill for impairment annually as of the first day of the fourth quarter and/or when an event occurs or circumstances change such that it is more likely than not that an impairment may exist. Examples of such events and circumstances that the company would consider include the following: ● macroeconomic conditions such as deterioration in general economic conditions, limitations on accessing capital, fluctuations in foreign exchange rates, or other developments in equity and credit markets; ● industry and market considerations such as a deterioration in the environment in which the company operates, an increased competitive environment, a decline in market-dependent multiples or metrics (considered in both absolute terms and relative to peers), a change in the market for the company’s products or services, or a regulatory or political development; ● cost factors such as increases in inventory, labor, or other costs that have a negative effect on earnings and cash flows; ● overall financial performance such as negative or declining cash flows or a decline in actual or planned revenue or earnings compared with actual and projected results of relevant prior periods; ● other relevant entity-specific events such as changes in management, key personnel, strategy, or customers, contemplation of bankruptcy, or litigation; ● events affecting a reporting unit such as a change in the composition or carrying amount of its net assets, a more likely than not expectation of selling or disposing all, or a portion, of a reporting unit, the testing for recoverability of a significant asset group within a reporting unit, or recognition of a goodwill impairment loss in the financial statements of a subsidiary that is a component of a reporting unit; and ● a sustained decrease in share price (considered in both absolute terms and relative to peers). Goodwill is tested at a level of reporting referred to as “the reporting unit.” The company’s reporting units are defined as: ● each of the three regional businesses within the global components reportable segment: ◦ Americas Components; ◦ Europe, the Middle East, and Africa (“EMEA”) Components; ◦ Asia/Pacific Components; ● eInfochips, which is part of the global components reportable segment; and ● each of the two regional businesses within the global enterprise computing solutions (“ECS”) reportable segment: ◦ ECS Americas; ◦ ECS EMEA The company performs a quantitative goodwill impairment test annually and this test is used to both identify and measure impairment by comparing the fair value of a reporting unit with its carrying amount, including goodwill. If the carrying amount of the reporting unit is less than its fair value, no impairment exists. If the carrying amount of a reporting unit exceeds its fair value, an impairment loss shall be recognized in an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit. The company estimates the fair value of a reporting unit using the income approach. For the purposes of the income approach, fair value is determined based on the present value of estimated future cash flows, discounted at an appropriate risk-adjusted rate. The assumptions included in the income approach include forecasted revenues, gross profit margins, operating income margins, working capital, perpetual growth rates, income tax rates, and long-term discount rates, among others, all of which require significant judgments by management. Actual results may differ from those assumed in the company’s forecasts. The company also reconciles its discounted cash flow analysis to its current market capitalization allowing for a reasonable control premium. As of the first day of the fourth quarters of 2023, 2022, and 2021, the company’s annual impairment testing did not indicate impairment at any of the company’s reporting units. As of the date of the company’s 2023 annual impairment test, the fair value of all reporting units exceeded their carrying values by more than 19%. Discount rates are one of the more significant assumptions used in the income approach. If the company increased the discount rates used by 100 basis points, the fair value of all reporting units would still exceed their carrying values by more than 8%. A decline in general economic conditions or global equity valuations could impact the judgments and assumptions about the fair value of the company’s businesses, and the company could be required to record an impairment charge in the future, which could impact the company’s consolidated balance sheets, as well as the company’s consolidated statements of operations. If the company was required to recognize an impairment charge in the future, the charge would not impact the company’s consolidated cash flows, current liquidity, capital resources, and covenants under its existing revolving credit facility, North American asset securitization program, other outstanding borrowings, and EMEA asset securitization program. As of December 31, 2023, the company has $2.1 billion of goodwill, of which approximately $568.2 million and $110.0 million was allocated to the Americas and EMEA reporting units within the global components reportable segment, respectively, $783.6 million and $391.7 million was allocated to the North America and EMEA reporting units within the global ECS reportable segment, respectively, and $197.0 million was allocated to the eInfochips reporting unit. Within the global components reportable segment, the Asia/Pacific reporting unit’s goodwill was previously fully impaired. Refer to Note 2.
Leases	Leases The company determines if a contract contains a lease at inception based on whether it conveys the right to control the use of an identified asset. Substantially all of the company’s leases are classified as operating leases. The company records operating lease right-of-use assets within “Other assets” and lease liabilities are recorded within “Other liabilities” and “Accrued expenses” in the consolidated balance sheets. Lease expenses are recorded within “Selling, general, and administrative expenses” in the consolidated statements of operations. Operating lease payments are presented within “Operating cash flows” in the consolidated statements of cash flows. Operating lease right-of-use assets and lease liabilities are recognized based on the net present value of future minimum lease payments over the lease term starting on the commencement date. The company generally is not able to determine the rate implicit in its leases and, as such, applies an incremental borrowing rate based on the company’s cost of borrowing for the relevant terms of each lease. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. Lease terms may include an option to extend or terminate a lease if it is reasonably certain that the company will exercise such options. The company does not separate lease components from non-lease components, and also has elected not to record a right-of-use asset or lease liability for leases which, at inception, have a term of twelve months or less. Variable lease payments are recognized in the period in which the obligation for those payments is incurred.
Foreign Currency Translation and Remeasurement	Foreign Currency Translation and Remeasurement The assets and liabilities of international operations are translated at the exchange rates in effect at the balance sheet date. Revenue and expense accounts are translated at the monthly average exchange rates. Adjustments arising from the translation of the foreign currency financial statements of the company’s international operations are reported as a component of “Accumulated other comprehensive loss” in the company’s consolidated balance sheets. For foreign currency remeasurement from each local currency into the appropriate functional currency, monetary assets and liabilities are remeasured to functional currencies using current exchange rates in effect at the balance sheet date. Gains or losses from these remeasurements were not significant and have been included in the company’s consolidated statements of operations. Non-monetary assets and liabilities are recorded at historical exchange rates. Transactions denominated in currencies other than the applicable functional currency are converted to the functional currency at the exchange rate on the transaction date.
Income Taxes	Income Taxes Income taxes are accounted for under the liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the consolidated financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of differences between the tax bases of assets and liabilities and their financial reporting amounts using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. The carrying value of the company’s deferred tax assets is dependent upon the company’s ability to generate sufficient future taxable income in certain tax jurisdictions. Should the company determine that it is more likely than not that some portion or all of its deferred tax assets will not be realized, a valuation allowance to reduce the deferred tax assets is established in the period such determination is made. The assessment of the need for a valuation allowance requires judgment on the part of management with respect to the benefits that could be realized from future taxable income, as well as other positive and negative factors. It is also the company’s policy to provide for uncertain tax positions and the related interest and penalties based upon management’s assessment of whether a tax benefit is more likely than not to be sustained upon examination by tax authorities. To the extent the company prevails in matters for which a liability for an unrecognized tax benefit is established, or is required to pay amounts in excess of the liability, or when other facts and circumstances change, the company’s effective tax rate in a given financial statement period may be materially affected.
Net Income Per Share	Net Income Per Share Basic net income per share is computed by dividing net income attributable to shareholders by the weighted-average number of common shares outstanding for the period. Diluted net income per share reflects the potential dilution that would occur if securities or other contracts to issue common stock were exercised or converted into common stock. The dilutive effect of equity awards is calculated using the treasury stock method.
Treasury Stock	Treasury Stock The company’s stock repurchase program provides an opportunity for the company to repurchase shares at the discretion of the company’s senior executives, based on various factors. The company recognizes treasury stock based on the amount paid to repurchase its shares. Direct costs incurred to acquire treasury stock, including excise taxes, are added to the cost of the treasury stock. Upon the retirement of treasury shares, the cost of repurchased and retired treasury shares in excess of the par value is allocated between additional paid-in capital and retained earnings. All retired shares are classified as authorized but unissued and do not reduce the total number of authorized shares. When treasury shares are reissued, if the issuance price is higher than the average price paid to acquire the shares (the “average cost”), the gain on reissuance is credited to additional paid-in-capital. If the issuance price is lower than the average cost, the loss on reissuance is first charged against any previous gains recorded to additional paid-in-capital from treasury stock, with the remaining balance charged to retained earnings.
Comprehensive Income	Comprehensive Income Comprehensive income consists of consolidated net income, foreign currency translation adjustment, gains or losses on post-retirement benefit plans, gains or losses on foreign exchange contracts designated as net investment hedges, and gains and losses on interest rate swaps designated as cash flow hedges. Gains or losses on interest rate swaps, and foreign exchange contracts are net of any reclassification adjustments for realized gains or losses included in consolidated net income. Amounts related to net investment hedges that are excluded from the assessment of hedge effectiveness are amortized to “interest and other financing expenses, net” on a straight-line basis over the life of the hedging instrument. Foreign currency translation adjustments included in comprehensive income which are deemed permanent investments in international affiliates were not tax effected. All other comprehensive income items are net of related income taxes.
Stock-Based Compensation	Stock-Based Compensation The company records share-based payment awards exchanged for employee services at fair value on the date of grant and expenses the awards in the consolidated statements of operations over the requisite employee service period. Stock-based compensation expense includes an estimate for forfeitures. Stock-based compensation expense related to awards with a market or performance condition which cliff vest, are recognized over the vesting period on a straight-line basis. Stock-based compensation awards with service conditions only are also recognized on a straight-line basis. Stock-based compensation expense related to awards with graded vesting and performance conditions is recognized using the graded vesting method.
Segment Reporting	Segment Reporting Operating segments are defined as components of an enterprise for which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The company’s operations are classified into two reportable segments: global components and global ECS (see Note 16).
Revenue Recognition	Revenue Recognition The company recognizes revenue as control of products is transferred to customers, which generally happens at the point of shipment. Sales are recorded net of discounts, rebates, and returns, which historically have not been material. The company allows its customers to return product for exchange or credit in limited circumstances. The company also provides volume rebates and other discounts to certain customers which are considered a variable consideration. A provision for customer rebates and other discounts is recorded as a reduction of revenue at the time of sale based on an evaluation of the contract terms and historical experience. Tariffs are included in sales as the company has enforceable rights to additional consideration to cover the cost of tariffs. Other taxes imposed by governmental authorities on the company’s revenue producing activities with customers, such as sales taxes and value-added taxes, are excluded from net sales. Products sold by the company are generally delivered via shipment from the company's facilities, drop shipment directly from the vendor, or by electronic delivery of keys for software products. The company is the principal in these transactions, as it is principally responsible for fulfilling the order, which includes negotiating price both with the supplier and customer, payment to the supplier, establishing payment terms with the customer, product returns, and has risk of loss if the customer does not make payment. Sales, where the company is the principal in the transaction, are reported on the gross amount billed to a customer less discounts, rebates, and returns (referred to as “sales recognized on a gross basis”). The company has contracts with certain customers where the company’s performance obligation is to arrange for the products or services to be provided by another party. The company is the agent in these arrangements, which relate to the sale of supplier-provided service contracts to customers or the rendering of logistics services for the delivery of inventory for which the company does not assume the risks and rewards of ownership. Sales, where the company is the agent, are reported as the amount billed to the customer net of the cost of the sale (referred to as “sales recognized on a net basis”). No single customer accounted for more than 2% of the company’s 2023 consolidated sales. One supplier accounted for approximately 10% of the company’s consolidated sales in 2023. The company believes that many of the products it sells are available from other sources at competitive prices. However, certain parts of the company’s business, such as the company’s global ECS reportable segment, rely on a limited number of suppliers with the strategy of providing focused support, extensive product knowledge, and customized service to suppliers, value-added resellers (“VARs”), and managed service providers (“MSPs”). Most of the company’s purchases are pursuant to distributor agreements, which are typically non-exclusive and cancelable by either party at any time or on short notice.
Shipping and Handling Costs	Shipping and Handling Costs The company reports shipping and handling costs, primarily related to outbound freight, in the consolidated statements of operations as a component of “Selling, general, and administrative expenses” or “Cost of sales”, depending on the nature of the transaction.
Vendor Programs	Vendor Programs The company participates in supplier programs that provide for price protection, product rebates, marketing/promotional allowances, and other incentives. The consideration received under these programs is recorded in the consolidated statements of operations as an adjustment to “cost of sales” or “selling, general, and administrative expenses”, according to the nature of the activity and terms of the vendor program. Incentives are accrued as they are earned based on sales of qualifying products or as services are provided in accordance with the terms of the related program.
Impact of Recently Issued Accounting Standards	Impact of Recently Issued Accounting Standards In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures explanation of how the reported segment profit or loss is assessed and allocated. The amendments in the ASU are effective for fiscal years beginning after December 15, 2023, and interim periods after December 15, 2024. The amendments in this ASU will be applied retrospectively for all prior periods presented in the financial statements. The company is currently evaluating the potential effects of adopting the provisions of ASU No. 2023-07. In September 2022, the FASB issued ASU No. 2022-04, Liabilities—Supplier Finance Programs (Subtopic 405-50) Disclosure of Supplier Finance Program Obligations
Reclassification	Reclassification Certain prior period amounts were reclassified to conform to the current period presentation. These reclassifications did not have a material impact on previously reported amounts.
Financial Instruments Measured at Fair Value	Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The company utilizes a fair value hierarchy, which maximizes the use of observable inputs and minimizes the use of unobservable inputs when measuring fair value. The fair value hierarchy has three levels of inputs that may be used to measure fair value: Level 1 Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. Level 2 Quoted prices in markets that are not active; or other inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability. Level 3 Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable.
Fair Value Of Debt Policy	The carrying amount of the company’s other short-term borrowings, 3.25% notes due in 2024, North American asset securitization program, commercial paper, uncommitted lines of credit, and other obligations approximate their fair value.

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets
Schedule of goodwill of companies acquired	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Global ​ ​ (thousands) ​ Components ​ Global ECS ​ Total Balance as of December 31, 2021 (a) ​ $ 882,948 ​ $ 1,197,423 ​ $ 2,080,371 Foreign currency translation adjustment ​ (9,945) ​ (42,800) ​ (52,745) Balance as of December 31, 2022 (a) ​ $ 873,003 ​ $ 1,154,623 ​ $ 2,027,626 Foreign currency translation adjustment ​ 2,191 ​ 20,609 ​ 22,800 Balance as of December 31, 2023 (a) ​ $ 875,194 ​ $ 1,175,232 ​ $ 2,050,426 (a) The total carrying value of goodwill as of December 31, 2023, 2022, and 2021 in the table above is reflected net of $1.6 billion of accumulated impairment charges, of which $1.3 billion was recorded in the global components reportable segment and $301.9 million was recorded in the global ECS reportable segment.
Schedule of intangible assets, net	Intangible assets, net, are comprised of the following as of December 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ ​ ​ ​ Carrying ​ Accumulated ​ ​ (thousands) ​ Amount ​ Amortization ​ Net Customer relationships ​ $ 258,337 ​ $ (156,141) ​ $ 102,196 Amortizable trade name ​ 73,811 ​ (48,567) ​ 25,244 ​ ​ $ 332,148 ​ $ (204,708) ​ $ 127,440 ​ Intangible assets, net, are comprised of the following as of December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ ​ ​ ​ Carrying ​ Accumulated ​ ​ (thousands) ​ Amount ​ Amortization ​ Net Customer relationships ​ $ 268,180 ​ $ (144,655) ​ $ 123,525 Amortizable trade name ​ 74,011 ​ (38,399) ​ 35,612 ​ ​ $ 342,191 ​ $ (183,054) ​ $ 159,137

Investments in Affiliated Com_2

Investments in Affiliated Companies (Tables)	12 Months Ended
	Dec. 31, 2023
Investments in Affiliated Companies
Schedule of investment in affiliated companies	​ ​ ​ ​ ​ ​ ​ ​ (thousands) 2023 2022 Marubun/Arrow ​ $ 50,779 ​ $ 54,292 Other ​ 11,962 ​ 10,820 ​ ​ $ 62,741 ​ $ 65,112
Schedule of equity in earnings of affiliated companies	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (thousands) 2023 2022 2021 Marubun/Arrow ​ $ 4,452 ​ $ 6,289 ​ $ 2,684 Other ​ 1,955 ​ 1,375 ​ 824 ​ ​ $ 6,407 ​ $ 7,664 ​ $ 3,508

Accounts Receivable (Tables)

Accounts Receivable (Tables)	12 Months Ended
	Dec. 31, 2023
Accounts Receivable
Schedule of accounts receivable, net	​ ​ ​ ​ ​ ​ ​ ​ (thousands) 2023 2022 Accounts receivable ​ $ 12,384,553 ​ $ 12,416,114 Allowance for credit losses ​ (146,480) ​ (93,397) Accounts receivable, net ​ $ 12,238,073 ​ $ 12,322,717
Schedule of changes in the allowance for credit losses	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (thousands) 2023 2022 2021 Balance at beginning of period ​ $ 93,397 ​ $ 75,901 ​ $ 92,792 Charged to income ​ 71,984 ​ 34,590 ​ 7,039 Translation Adjustments ​ 690 ​ (1,476) ​ (1,963) Write-offs ​ (19,591) ​ (15,618) ​ (21,967) Balance at end of period ​ $ 146,480 ​ $ 93,397 ​ $ 75,901
Schedule of sales of accounts receivable to unaffiliated financial institutions under the EMEA asset securitization program	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (thousands) 2023 2022 ​ 2021 EMEA asset securitization, sales of accounts receivables ​ $ 3,160,247 ​ $ 2,524,276 ​ $ 2,193,983
Schedule of other amounts related to the EMEA asset securitization program	​ ​ ​ ​ ​ ​ ​ ​ (thousands) 2023 2022 Receivables sold to unaffiliated financial institutions that were uncollected ​ $ 529,266 ​ $ 628,930 Collateralized accounts receivable held by Arrow EMEA funding Corp B.V. ​ 805,788 ​ 932,243
Schedule of sales of trade accounts receivable under factoring programs	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (thousands) 2023 2022 ​ 2021 Sales of accounts receivables under the factoring programs ​ $ 1,618,726 ​ $ 1,612,909 ​ $ 1,625,951
Schedule of other amounts under factoring programs	​ ​ ​ ​ ​ ​ ​ ​ (thousands) 2023 2022 Receivables sold under the factoring programs that were uncollected ​ $ 375,940 ​ $ 224,433 ​

Supplier Finance Programs (Tabl

Supplier Finance Programs (Tables)	12 Months Ended
	Dec. 31, 2023
Supplier Finance Programs
Schedule of information relating to rollforward of the company's outstanding obligations under its supplier finance programs	​ ​ ​ ​ ​ (thousands) 2023 Obligations outstanding at the beginning of the year ​ $ 1,568,787 Invoices added during the year ​ 4,388,317 Invoices paid during the year ​ ​ (4,843,625) Obligations outstanding at the end of the year ​ $ 1,113,479 ​

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2023
Debt
Schedule of short-term borrowings, including current portion of long-term debt	​ ​ ​ ​ ​ ​ ​ ​ (thousands) 2023 2022 4.50% notes, due March 2023 ​ $ — ​ $ 299,895 3.25% notes, due September 2024 ​ ​ 499,224 ​ ​ — Uncommitted lines of credit ​ — ​ 78,000 Commercial paper ​ 1,121,882 ​ 173,407 Other short-term borrowings ​ 32,848 ​ 38,581 ​ ​ $ 1,653,954 ​ $ 589,883
Schedule of long-term debt	Long-term debt consists of the following at December 31: ​ ​ ​ ​ ​ ​ ​ ​ (thousands) 2023 2022 North American asset securitization program ​ $ 198,000 ​ $ 1,235,000 3.25% notes, due 2024 ​ — ​ 498,122 4.00% notes, due 2025 ​ 349,061 ​ 348,344 6.125% notes, due 2026 (a) ​ 497,661 ​ — 7.50% senior debentures, due 2027 ​ 110,184 ​ 110,103 3.875% notes, due 2028 ​ 497,098 ​ 496,448 2.95% notes, due 2032 ​ 495,039 ​ 494,522 Other obligations with various interest rates and due dates ​ 6,510 ​ 425 ​ ​ $ 2,153,553 ​ $ 3,182,964
Schedule of estimated fair market value of long-term debt, using quoted market prices	The estimated fair market value of long-term debt at December 31, using quoted market prices, is as follows: ​ ​ ​ ​ ​ ​ ​ ​ (thousands) 2023 2022 3.25% notes, due 2024 ​ $ — ​ $ 481,500 4.00% notes, due 2025 ​ ​ 343,500 ​ ​ 338,000 6.125% notes, due 2026 ​ 502,000 ​ — 7.50% senior debentures, due 2027 ​ 117,000 ​ 116,500 3.875% notes, due 2028 ​ 475,000 ​ 456,000 2.95% notes, due 2032 ​ 425,000 ​ 395,500

Financial Instruments Measure_2

Financial Instruments Measured at Fair Value (Tables)	12 Months Ended
	Dec. 31, 2023
Financial Instruments Measured at Fair Value
Schedule of assets (liabilities) measured at fair value on a recurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (thousands) Balance Sheet Location Level 1 Level 2 Level 3 Total Cash equivalents (a) ​ Cash and cash equivalents ​ $ 8,729 ​ $ — ​ $ — ​ $ 8,729 Equity investments (b) ​ Other assets ​ 57,625 ​ — ​ — ​ 57,625 Interest rate swap designated as fair value hedge ​ Other liabilities ​ — ​ (454) ​ — ​ (454) Foreign exchange contracts designated as net investment hedges ​ Other assets / other current assets ​ — ​ 47,245 ​ — ​ 47,245 ​ ​ ​ ​ ​ $ 66,354 ​ $ 46,791 ​ $ — ​ $ 113,145 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (thousands) ​ Balance Sheet Location Level 1 Level 2 Level 3 Total Cash equivalents (a) ​ Cash and cash equivalents / other current assets ​ $ 6,596 ​ $ — ​ $ — ​ $ 6,596 Equity investments (b) ​ Other assets ​ 50,614 ​ — ​ — ​ 50,614 Interest rate swaps designated as cash flow hedges ​ Other assets ​ — ​ 55,942 ​ — ​ 55,942 Foreign exchange contracts designated as net investment hedges ​ Other assets / other current assets ​ — ​ 60,962 ​ — ​ 60,962 ​ ​ ​ ​ ​ $ 57,210 ​ $ 116,904 ​ $ — ​ $ 174,114 (a) Cash equivalents include highly liquid investments with an original maturity of less than three months. (b) The company has an 8.4% equity ownership interest in Marubun Corporation and a portfolio of mutual funds with quoted market prices. During 2023, 2022, and 2021 the company recorded unrealized gains (losses) of $9.7 million, $(5.8) million, and $7.8 million, respectively, on equity securities held at the end of each year.
Schedule of effects of derivative instruments on the company's consolidated statements of operations and other comprehensive income	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (thousands) Income Statement Line 2023 2022 2021 Gain (Loss) Recognized in Income (Loss) ​ ​ ​ Foreign exchange contracts, net investment hedge (a) Interest Expense ​ $ 7,460 ​ $ 8,805 ​ $ 8,805 Interest rate swaps, cash flow hedge Interest Expense ​ (2,889) ​ (3,586) ​ (3,087) Interest rate swap, fair value hedge Interest Expense ​ (454) ​ — ​ — Total ​ $ 4,117 ​ $ 5,219 ​ $ 5,718 Gain (Loss) Recognized in Other Comprehensive Income (Loss) before reclassifications, net of tax ​ ​ ​ Foreign exchange contracts, net investment hedge (b) ​ $ (2,276) ​ $ 15,474 ​ $ 21,133 Interest rate swaps, cash flow hedge ​ 585 ​ 25,937 ​ 19,232 Total ​ $ (1,691) ​ $ 41,411 ​ $ 40,365 (a) Represents derivative amounts excluded from the assessment of effectiveness for the net investment hedges reclassified from CTA to “Interest and other financing expenses, net”. (b) Includes derivative (losses) gains excluded from the assessment of effectiveness for the net investment hedges and recognized in other comprehensive income, net of tax, of $(1.8) million, $1.8 million, and $(0.6) million for 2023, 2022, and 2021, respectively, which were excluded from the assessment of effectiveness for the net investment hedges and recognized in other comprehensive income (loss), net of tax.
Interest rate swap | Designated as hedging instrument
Financial Instruments Measured at Fair Value
Description of types of hedging instruments used	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Notional Amount Weighted-Average Date Range of Trade Date ​ Maturity Date ​ (thousands) ​ Interest Rate ​ Forecasted Transaction April 2020 ​ December 2024 ​ $ 300,000 ​ 0.97% ​ Jan 2023 - Dec 2025 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Notional Amount Interest Rate due Interest Rate due to Trade Date ​ Maturity Date ​ (thousands) ​ from Counterparty ​ Counterparty February 2023 ​ March 2026 ​ $ 500,000 ​ 6.125% ​ SOFR+0.508%
Foreign exchange contract | Designated as hedging instrument
Financial Instruments Measured at Fair Value
Description of types of hedging instruments used	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Notional Amount (thousands) Maturity Date ​ 2023 ​ 2022 March 2023 ​ EUR - ​ EUR 50,000 September 2024 ​ EUR 50,000 EUR 50,000 April 2025 ​ EUR 100,000 EUR 100,000 January 2028 ​ EUR 100,000 EUR 100,000 Total ​ EUR 250,000 EUR 300,000

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Income Taxes
Schedule of provision for income taxes	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (thousands) 2023 2022 2021 Current: ​ ​ ​ Federal ​ $ 33,832 ​ $ 139,730 ​ $ 68,555 State ​ 16,108 ​ 29,117 ​ 18,418 International ​ 299,031 ​ 293,195 ​ 214,184 ​ ​ $ 348,971 ​ $ 462,042 ​ $ 301,157 Deferred: ​ ​ ​ Federal ​ $ (59,342) ​ $ (39,658) ​ $ (347) State ​ (11,960) ​ (5,613) ​ (388) International ​ (22,678) ​ 32,221 ​ 25,484 ​ ​ (93,980) ​ (13,050) ​ 24,749 ​ ​ $ 254,991 ​ $ 448,992 ​ $ 325,906
Schedule of effective income tax rate reconciliation	The principal causes of the difference between the U.S. federal statutory tax rate of 21% and effective income tax rates for the years ended December 31 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (thousands) 2023 2022 2021 United States ​ $ (38,848) ​ $ 517,642 ​ $ 339,499 International ​ 1,203,202 ​ 1,366,508 ​ 1,096,875 Income before income taxes ​ $ 1,164,354 ​ $ 1,884,150 ​ $ 1,436,374 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Provision at statutory tax rate ​ $ 244,514 ​ $ 395,672 ​ $ 301,638 State taxes, net of federal benefit ​ 2,379 ​ 18,675 ​ 14,162 International effective tax rate differential ​ 27,993 ​ 26,210 ​ (5,402) Change in valuation allowance ​ (7,755) ​ (6,378) ​ (1,723) Other non-deductible expenses ​ 2,993 ​ 7,441 ​ 9,058 Changes in tax accruals ​ 1,153 ​ 5,993 ​ 9,937 Tax credits ​ (7,666) ​ 980 ​ (17,555) U.S. tax (benefit) on foreign earnings ​ ​ (10,075) ​ ​ 3,879 ​ ​ 10,289 Other ​ 1,455 ​ (3,480) ​ 5,502 Provision for income taxes ​ $ 254,991 ​ $ 448,992 ​ $ 325,906 ​
Schedule of reconciliation of unrecognized tax benefits	A reconciliation of the beginning and ending amount of unrecognized tax benefits for the years ended December 31 is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (thousands) 2023 2022 2021 Balance at beginning of year ​ $ 75,666 ​ $ 71,422 ​ $ 62,203 Additions based on tax positions taken during a prior period ​ 7,466 ​ 6,760 ​ 2,528 Reductions based on tax positions taken during a prior period ​ (4,448) ​ (3,007) ​ (1,542) Additions based on tax positions taken during the current period ​ 5,505 ​ 3,526 ​ 9,326 Reductions based on tax positions taken during the current period ​ — ​ — ​ (370) Reductions related to settlement of tax matters ​ — ​ (2,271) ​ (692) Reductions related to a lapse of applicable statute of limitations ​ (1,381) ​ (764) ​ (31) Balance at end of year ​ $ 82,808 ​ $ 75,666 ​ $ 71,422
Schedule of open tax years, by major tax jurisdiction	In many cases the company’s uncertain tax positions are related to tax years that remain subject to examination by tax authorities. The following describes the open tax years, by major tax jurisdiction, as of December 31, 2023: ​ ​ ​ ​ ​ United States - Federal ​ 2016 - present United States - States ​ 2015 - present Germany (a) ​ 2015 - present China and Hong Kong ​ 2016 - present Italy (a) ​ 2013 - present Netherlands ​ 2018 - present Sweden ​ 2018 - present Taiwan ​ 2018 - present United Kingdom ​ 2019 - present (a) Includes federal as well as local jurisdictions.
Schedule of deferred tax assets and liabilities	Deferred tax assets and liabilities consist of the following at December 31: ​ ​ ​ ​ ​ ​ ​ ​ (thousands) 2023 2022 Deferred tax assets: ​ ​ Net operating loss carryforwards ​ $ 17,987 ​ $ 18,409 Capital loss carryforwards ​ — ​ 56,618 Inventory adjustments ​ 68,542 ​ 46,188 Allowance for credit losses ​ 27,637 ​ 25,779 Accrued expenses ​ 73,251 ​ 35,940 Interest carryforward ​ 4,170 ​ 4,014 Stock-based compensation awards ​ 5,692 ​ 7,559 Lease liability ​ 68,605 ​ 71,415 Research and experimentation costs (a) ​ 59,277 ​ 33,426 Other ​ 3,332 ​ — ​ ​ 328,493 ​ 299,348 Valuation allowance ​ (15,832) ​ (75,842) Total deferred tax assets ​ $ 312,661 ​ $ 223,506 ​ ​ ​ ​ ​ ​ ​ Deferred tax liabilities: ​ ​ Goodwill ​ $ (152,551) ​ $ (144,287) Depreciation ​ (58,419) ​ (76,527) Intangible assets ​ — ​ (3,042) Lease right-of-use assets ​ (64,937) ​ (66,775) Other comprehensive income items ​ (13,204) ​ (9,842) Other ​ — ​ (3,002) Total deferred tax liabilities ​ $ (289,111) ​ $ (303,475) Total net deferred tax assets (liabilities) ​ $ 23,550 ​ $ (79,969)

Restructuring, Integration, a_2

Restructuring, Integration, and Other Charges (Tables)	12 Months Ended
	Dec. 31, 2023
Restructuring, Integration, and Other Charges
Schedule of components of the restructuring, integration, and other charges	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (thousands) 2023 2022 2021 Restructuring and integration charges ​ $ 8,877 ​ $ 6,994 ​ $ 16,673 Other charges (credits) ​ 75,039 ​ 6,747 ​ (1,280) ​ ​ $ 83,916 ​ $ 13,741 ​ $ 15,393
Schedule of activity in the restructuring and integration accruals	​ ​ ​ ​ ​ (thousands) ​ Total Balance at December 31, 2022 ​ $ 6,929 Restructuring and integration charges ​ 8,877 Payments ​ (9,371) Foreign currency translation ​ ​ (548) Balance at December 31, 2023 ​ $ 5,887

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2023
Shareholders' Equity
Schedule of changes in accumulated other comprehensive loss, excluding noncontrolling interests	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gain Gain ​ ​ ​ ​ ​ ​ ​ ​ ​ (Loss) on Foreign ​ (Loss) on ​ ​ ​ ​ ​ ​ ​ ​ Foreign ​ Exchange ​ Interest Rate ​ ​ ​ ​ ​ ​ ​ ​ Currency ​ Contracts ​ Swaps ​ ​ ​ ​ ​ ​ ​ ​ Translation ​ Designated as ​ Designated as ​ Employee ​ ​ ​ ​ ​ Adjustment and ​ Net Investment ​ Cash Flow ​ Benefit Plan ​ ​ ​ (thousands) ​ Other, Net ​ Hedges, Net ​ Hedges, Net ​ Items, Net ​ Total Balance as of December 31, 2021 ​ $ (192,939) ​ $ 11,332 ​ $ (809) ​ $ (9,241) ​ $ (191,657) Other comprehensive income (loss) before reclassifications (a) ​ (228,303) ​ 15,474 ​ 25,937 ​ 17,245 ​ (169,647) Amounts reclassified into income ​ (1,469) ​ (6,695) ​ 2,727 ​ 1,479 ​ (3,958) Net change in accumulated other comprehensive income (loss) for the year ended December 31, 2022 ​ (229,772) ​ 8,779 ​ 28,664 ​ 18,724 ​ (173,605) Balance as of December 31, 2022 ​ (422,711) ​ 20,111 ​ 27,855 ​ 9,483 ​ (365,262) Other comprehensive income (loss) before reclassifications (a) ​ 72,949 ​ (2,276) ​ 585 ​ (1,011) ​ 70,247 Amounts reclassified into income ​ 720 ​ (5,676) ​ 2,198 ​ (266) ​ (3,024) Net change in accumulated other comprehensive income (loss) for the year ended December 31, 2023 ​ 73,669 ​ (7,952) ​ 2,783 ​ (1,277) ​ 67,223 Balance as of December 31, 2023 ​ $ (349,042) ​ $ 12,159 ​ $ 30,638 ​ $ 8,206 ​ $ (298,039) (a) Foreign currency translation adjustment includes intra-entity foreign currency transactions that are of a long-term investment nature of $21.2 million and ($21.6) million for 2023 and 2022, respectively.
Schedule of activity in the number of shares outstanding	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Common ​ ​ Common ​ Treasury ​ Stock (thousands) ​ Stock Issued ​ Stock ​ Outstanding Common stock outstanding at December 31, 2020 125,424 50,581 74,843 Shares issued for stock-based compensation awards — (945) 945 Repurchases of common stock — 7,722 (7,722) Common stock outstanding at December 31, 2021 125,424 57,358 68,066 Shares issued for stock-based compensation awards — (525) 525 Repurchases of common stock — 9,342 (9,342) Common stock outstanding at December 31, 2022 125,424 66,175 59,249 Shares issued for stock-based compensation awards — (653) 653 Repurchases of common stock — 6,091 (6,091) Retirement of treasury shares ​ (67,733) ​ (67,733) ​ — Common stock outstanding at December 31, 2023 57,691 3,880 53,811
Schedule of company's share-repurchase program	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Approximate ​ ​ ​ ​ ​ ​ Dollar Value of ​ ​ Dollar Value ​ Dollar Value of ​ Shares that May ​ ​ Approved for ​ Shares ​ Yet be Purchased Share-Repurchase Details by Month of Board Approval (thousands) ​ Repurchase ​ Repurchased ​ Under the Program July 2021 ​ $ 600,000 ​ $ 600,000 ​ $ — December 2021 ​ 600,000 ​ 600,000 ​ — September 2022 ​ 600,000 ​ 600,000 ​ — January 2023 ​ ​ 1,000,000 ​ ​ 423,846 ​ ​ 576,154 Total (a) ​ $ 2,800,000 ​ $ 2,223,846 ​ $ 576,154 (a) The dollar value of shares repurchased includes an accrual of $6.6 million for excise taxes during 2023 which is recorded within “Treasury Stock” on the company’s consolidated balance sheets.

Net Income Per Share (Tables)

Net Income Per Share (Tables)	12 Months Ended
	Dec. 31, 2023
Net Income Per Share
Schedule of computation of net income per share on a basic and diluted basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (thousands except per share data) 2023 2022 2021 Net income attributable to shareholders ​ $ 903,505 ​ $ 1,426,884 ​ $ 1,108,197 Weighted-average shares outstanding - basic ​ 56,359 ​ 64,838 ​ 72,472 Net effect of various dilutive stock-based compensation awards ​ 676 ​ 615 ​ 913 Weighted-average shares outstanding - diluted ​ 57,035 ​ 65,453 ​ 73,385 Net income per share: ​ ​ ​ Basic ​ $ 16.03 ​ $ 22.01 ​ $ 15.29 Diluted (a) ​ $ 15.84 ​ $ 21.80 ​ $ 15.10 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (a) Equity awards excluded from diluted net income per share as their effect would have been anti-dilutive ​ ​ 32 ​ ​ 53 ​ ​ — ​

Employee Stock Plans (Tables)

Employee Stock Plans (Tables)	12 Months Ended
	Dec. 31, 2023
Employee Stock Plans
Schedule of information relates to the stock option activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted- ​ ​ ​ ​ ​ ​ Weighted- ​ Average ​ Aggregate ​ ​ ​ ​ Average ​ Remaining ​ Intrinsic ​ ​ ​ ​ Exercise ​ Contractual ​ Value ​ ​ Shares ​ Price ​ Life ​ (thousands) Outstanding at December 31, 2022 568,319 ​ $ 76.65 ​ Exercised (235,612) ​ 74.75 ​ Forfeited (10,455) ​ 79.28 ​ Outstanding at December 31, 2023 322,252 ​ 76.73 55 months ​ $ 14,668 Exercisable at December 31, 2023 272,555 ​ $ 76.28 52 months ​ $ 12,529
Schedule of information summarizes the changes in non-vested performance shares, performance units, restricted stock, and restricted stock units	​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted- ​ ​ ​ ​ Average Grant ​ ​ Shares ​ Date Fair Value Non-vested shares at December 31, 2022 927,662 ​ $ 103.61 Granted 415,001 ​ 117.91 Vested (463,056) ​ 77.18 Forfeited (59,387) ​ 114.78 Non-vested shares at December 31, 2023 820,220 ​ $ 124.95

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	12 Months Ended
	Dec. 31, 2023
Employee Benefit Plans
Schedule of pension information	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Arrow SERP (thousands) 2023 2022 Accumulated benefit obligation ​ $ 77,737 ​ $ 74,438 ​ Changes in projected benefit obligation: ​ ​ ​ Projected benefit obligation at beginning of year ​ 84,148 ​ 105,474 ​ Service cost ​ 3,250 ​ 3,296 ​ Interest cost ​ 4,082 ​ 2,782 ​ Actuarial loss (gain) ​ 1,328 ​ (25,709) ​ Benefits paid ​ (4,724) ​ (4,724) ​ Plan amendments ​ — ​ 3,029 ​ Projected benefit obligation at end of year ​ 88,084 ​ 84,148 ​ Funded status ​ $ (88,084) ​ $ (84,148) ​ Amounts recognized in the company's consolidated balance sheets: ​ ​ ​ Current liabilities ​ $ (6,186) ​ $ (5,084) ​ Noncurrent liabilities ​ (81,898) ​ (79,064) ​ Net liability at end of year ​ $ (88,084) ​ $ (84,148) ​ Components of net periodic pension cost: ​ ​ ​ Service cost ​ $ 3,250 ​ $ 3,296 ​ Interest cost ​ 4,082 ​ 2,782 ​ Amortization of prior service cost ​ ​ 336 ​ ​ — ​ Amortization of net loss ​ (668) ​ 776 ​ Net periodic pension cost ​ $ 7,000 ​ $ 6,854 ​ Weighted-average assumptions used to determine benefit obligation: ​ ​ ​ Discount rate ​ 4.80 % 5.00 % Rate of compensation increase ​ 5.00 % 5.00 % Expected return on plan assets ​ N/A ​ N/A ​ Weighted-average assumptions used to determine net periodic pension cost: ​ ​ ​ Discount rate ​ 5.00 % 2.70 % Rate of compensation increase ​ 5.00 % 5.00 % Expected return on plan assets ​ N/A ​ N/A ​
Schedule of expected benefit payments	​ ​ ​ ​ ​ (thousands) Arrow SERP 2024 ​ $ 6,186 2025 ​ 6,076 2026 ​ 6,238 2027 ​ 6,109 2028 ​ 6,136 2029 - 2033 ​ 36,358

Lease Commitments (Tables)

Lease Commitments (Tables)	12 Months Ended
	Dec. 31, 2023
Lease Commitments
Schedule of supplemental balance sheet information related to leases	The following amounts were recorded in the consolidated balance sheets at December 31: ​ ​ ​ ​ ​ ​ ​ ​ (thousands) 2023 2022 Operating Leases ​ ​ Right-of-use asset ​ $ 269,524 ​ $ 277,554 ​ ​ ​ ​ ​ ​ ​ Lease liability - current ​ 74,232 ​ 69,469 Lease liability - non-current ​ 210,110 ​ 227,044 Total operating lease liabilities ​ $ 284,342 ​ $ 296,513
Schedule of maturities of operating lease liabilities	Maturities of operating lease liabilities at December 31 were as follows: ​ ​ ​ ​ ​ (thousands) 2023 2024 ​ $ 83,637 2025 ​ 64,042 2026 ​ 50,696 2027 ​ 41,223 2028 ​ 33,491 Thereafter ​ 47,675 Total lease payments ​ 320,764 Less: imputed interest ​ (36,422) Total ​ $ 284,342
Schedule of supplemental cash flow and operating lease information	Other information pertaining to leases consists of the following for the year ended December 31: ​ ​ ​ ​ ​ ​ ​ ​ ​ (thousands) 2023 2022 Supplemental Cash Flow Information ​ ​ ​ Cash paid for amounts included in the measurement of operating lease liabilities ​ $ 91,797 ​ $ 88,235 ​ Right-of-use assets obtained in exchange for operating lease obligations ​ 74,356 ​ 104,210 ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating Lease Term and Discount Rate ​ ​ ​ Weighted-average remaining lease term in years ​ 5 years ​ 6 years ​ Weighted-average discount rate ​ 4.6% ​ 4.3% ​

Segment and Geographic Inform_2

Segment and Geographic Information (Tables)	12 Months Ended
	Dec. 31, 2023
Segment and Geographic Information
Schedule of reportable segment	Sales, by reportable segment by geographic area, are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (thousands) 2023 2022 2021 Sales: ​ ​ ​ Components: ​ ​ ​ Americas ​ $ 7,954,713 ​ $ 9,592,547 ​ $ 7,827,866 EMEA ​ 8,074,894 ​ 7,627,974 ​ 6,248,846 Asia/Pacific ​ 9,390,292 ​ 11,567,482 ​ 12,280,805 Global components ​ $ 25,419,899 ​ $ 28,788,003 ​ $ 26,357,517 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ECS: ​ ​ ​ Americas ​ $ 4,160,298 ​ $ 4,847,027 ​ $ 4,878,954 EMEA ​ 3,526,923 ​ 3,489,392 ​ 3,240,547 Global ECS ​ $ 7,687,221 ​ $ 8,336,419 ​ $ 8,119,501 Consolidated ​ $ 33,107,120 ​ $ 37,124,422 ​ $ 34,477,018 ​ Sales by country are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (thousands) 2023 2022 2021 Sales: ​ ​ ​ China and Hong Kong ​ $ 4,858,871 ​ $ 6,339,883 ​ $ 7,249,611 Germany ​ 4,341,837 ​ 4,715,806 ​ 4,007,381 Other ​ 12,737,852 ​ 12,901,063 ​ 11,603,832 Total foreign ​ $ 21,938,560 ​ $ 23,956,752 ​ $ 22,860,824 United States ​ 11,168,560 ​ 13,167,670 ​ 11,616,194 Total ​ $ 33,107,120 ​ $ 37,124,422 ​ $ 34,477,018 ​ The company operates in more than 85 countries worldwide. Sales to unaffiliated customers are based on the company location that maintains the customer relationship and transacts the external sale. ​ Operating income (loss), by reportable segment, are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (thousands) 2023 2022 2021 Operating income (loss): ​ ​ ​ Global components (a) ​ $ 1,459,166 ​ $ 1,961,125 ​ $ 1,432,187 Global ECS (b) ​ 367,004 ​ 408,519 ​ 390,103 Corporate (c) ​ (355,006) ​ (301,150) ​ (265,468) Consolidated ​ $ 1,471,164 ​ $ 2,068,494 ​ $ 1,556,822 (a) Global components operating income includes $62.2 million and $12.5 million in settlement charges recorded as a reduction to operating expense for 2023 and 2021, respectively, (refer to Note 15) and $4.5 million in restructuring, integration, and other charges for 2021. ​ (b) Global ECS operating income includes charges to increase the allowance for credit losses, which increased by $24.0 million for 2023, relative to the year-earlier period. ​ (c) Corporate operating loss for the years 2023, 2022, and 2021 includes restructuring, integration, and other charges of $83.9 million, $13.7 million, and $10.9 million, respectively.
Reconciliation of assets from segment to consolidated	Total assets, by reportable segment, at December 31 are as follows: ​ ​ ​ ​ ​ ​ ​ ​ (thousands) 2023 2022 Total assets: ​ ​ Global components ​ $ 15,129,190 ​ $ 15,001,624 Global ECS ​ 6,051,459 ​ 6,124,184 Corporate ​ 545,519 ​ 637,374 Consolidated ​ $ 21,726,168 ​ $ 21,763,182
Schedule of long-lived assets by geographical areas	Long-lived assets by country are as follows: ​ ​ ​ ​ ​ ​ ​ ​ (thousands) 2023 2022 Long-lived assets: ​ ​ Netherlands ​ $ 89,199 ​ $ 93,390 France ​ ​ 87,861 ​ ​ 68,048 Other ​ 258,264 ​ 247,823 Total foreign ​ $ 435,324 ​ $ 409,261 United States ​ 364,940 ​ 464,749 Total ​ $ 800,264 ​ $ 874,010 ​

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Property Plant and Equipment (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Software Development Costs	$ 242.4	$ 313.6
Building | Minimum
Property, Plant and Equipment [Line Items]
Property, Plant, and Equipment	20 years
Building | Maximum
Property, Plant and Equipment [Line Items]
Property, Plant, and Equipment	30 years
Machinery and Equipment | Minimum
Property, Plant and Equipment [Line Items]
Property, Plant, and Equipment	3 years
Machinery and Equipment | Maximum
Property, Plant and Equipment [Line Items]
Property, Plant, and Equipment	10 years
Computer Software, Intangible Asset | Minimum
Property, Plant and Equipment [Line Items]
Property, Plant, and Equipment	3 years
Computer Software, Intangible Asset | Maximum
Property, Plant and Equipment [Line Items]
Property, Plant, and Equipment	12 years

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Significant Accounting Policies (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) segment	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Goodwill and Intangible Assets
Gain (loss) on investments, net	$ 19,284	$ (2,857)	$ 12,951
Goodwill	$ 2,050,426	2,027,626	2,080,371
Reporting Unit, Percentage of Fair Value in Excess of Carrying Amount	19%
Reporting Unit, Percentage of Fair Value in Excess of Carrying Amount, Sensitivity Analysis	8%
Number of reportable segments | segment	2
Global Components
Goodwill and Intangible Assets
Goodwill	$ 875,194	873,003	882,948
Global ECS
Goodwill and Intangible Assets
Goodwill	$ 1,175,232	$ 1,154,623	$ 1,197,423
Revenue Benchmark | Customer Concentration Risk | Customer Concentration
Goodwill and Intangible Assets
Concentration Risk, Percentage	2%
Revenue Benchmark | Other Supplier Concentration Risk | Supplier 1
Goodwill and Intangible Assets
Concentration Risk, Percentage	10%
Americas | Global Components
Goodwill and Intangible Assets
Goodwill	$ 568,200
Americas | Global ECS
Goodwill and Intangible Assets
Goodwill	783,600
EMEA | Global Components
Goodwill and Intangible Assets
Goodwill	110,000
EMEA | Global ECS
Goodwill and Intangible Assets
Goodwill	391,700
eInfochips | Global Components
Goodwill and Intangible Assets
Goodwill	$ 197,000

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Goodwill [Roll Forward]
Goodwill, Beginning balance	$ 2,027,626	$ 2,080,371
Foreign currency translation adjustment	22,800	(52,745)
Goodwill, Ending balance	2,050,426	2,027,626
Accumulated impairment charges	1,600,000	1,600,000	$ 1,600,000
Global Components
Goodwill [Roll Forward]
Goodwill, Beginning balance	873,003	882,948
Foreign currency translation adjustment	2,191	(9,945)
Goodwill, Ending balance	875,194	873,003
Accumulated impairment charges	1,300,000	1,300,000	1,300,000
Global ECS
Goodwill [Roll Forward]
Goodwill, Beginning balance	1,154,623	1,197,423
Foreign currency translation adjustment	20,609	(42,800)
Goodwill, Ending balance	1,175,232	1,154,623
Accumulated impairment charges	$ 301,900	$ 301,900	$ 301,900

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets
Gross Carrying Amount	$ 332,148	$ 342,191
Accumulated Amortization	(204,708)	(183,054)
Net	127,440	159,137
Amortization of Intangible Assets	31,200	34,700	$ 36,900
Future Amortization Expense, Year One	29,500
Future Amortization Expense, Year Two	20,300
Future Amortization Expense, Year Three	19,500
Future Amortization Expense, Year Four	18,900
Future Amortization Expense, Year Five	11,200
Customer relationships
Goodwill and Intangible Assets
Gross Carrying Amount	258,337	268,180
Accumulated Amortization	(156,141)	(144,655)
Net	102,196	123,525
Other Intangible Assets
Goodwill and Intangible Assets
Gross Carrying Amount	73,811	74,011
Accumulated Amortization	(48,567)	(38,399)
Net	$ 25,244	$ 35,612

Investments in Affiliated Com_3

Investments in Affiliated Companies (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Investments in Affiliated Companies
Investments in affiliated companies	$ 62,741	$ 65,112
Equity in earnings of affiliated companies	6,407	7,664	$ 3,508
Equity method investment, pro rata share of debt obligations of joint venture	$ 0	0
Marubun/Arrow
Investments in Affiliated Companies
Equity method investment, ownership percentage	50%
Investments in affiliated companies	$ 50,779	54,292
Equity in earnings of affiliated companies	$ 4,452	6,289	2,684
Other joint venture
Investments in Affiliated Companies
Equity method investment, ownership percentage	50%
Investments in affiliated companies	$ 11,962	10,820
Equity in earnings of affiliated companies	$ 1,955	$ 1,375	$ 824

Accounts Receivable (Details)

Accounts Receivable (Details) $ in Thousands, € in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2023 EUR (€)
Accounts Receivable
Accounts receivable	$ 12,384,553	$ 12,416,114
Allowance for credit losses	(146,480)	(93,397)
Accounts receivable, net	12,238,073	12,322,717
Allowances for doubtful accounts	146,480	93,397	$ 75,901
Allowance for credit loss charged to income	37,400
Agreement amount with purchaser to transfer financial assets accounted for as sales | €				€ 600
EMEA asset securitization, sales of accounts receivables	3,160,247	2,524,276	2,193,983
Receivables sold to unaffiliated financial institutions that were uncollected	529,266	628,930
Sales of accounts receivables under the factoring programs	1,618,726	1,612,909	1,625,951
Receivables sold under the factoring programs that were uncollected	375,940	224,433
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	93,397	75,901	92,792
Charged to income	71,984	34,590	7,039
Translation Adjustments	690	(1,476)	(1,963)
Write-offs	(19,591)	(15,618)	(21,967)
Balance at end of period	146,480	93,397	$ 75,901
Variable interest entity, primary beneficiary | Asset pledged as collateral
Accounts Receivable
Collateralized accounts receivable held by Arrow EMEA funding Corp B.V.	$ 805,788	$ 932,243

Supplier Finance Programs (Deta

Supplier Finance Programs (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Supplier Finance Program, Obligation [Roll Forward]
Obligations outstanding at the beginning of the year	$ 1,568,787
Invoices added during the year	4,388,317
Invoices paid during the year	(4,843,625)
Obligations outstanding at the end of the year	$ 1,113,479
Supplier Finance Program, Obligation, Statement of Financial Position [Extensible Enumeration]	Accounts Payable, Current

Debt - ST Debt (Details)

Debt - ST Debt (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended	12 Months Ended
	Feb. 28, 2022	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	May 31, 2023	Apr. 30, 2023	Apr. 01, 2023
Debt
Short-term borrowings, including current portion of long-term debt			$ 1,653,954	$ 589,883
Other short-term borrowings			32,848	38,581
Net proceeds from note offering			496,268	0	$ 495,134
4.50% notes, due 2023
Debt
Debt instrument, interest rate, stated percentage								4.50%
3.25% notes, due 2024
Debt
Short-term borrowings, including current portion of long-term debt			$ 499,224	$ 0
Debt instrument, interest rate, stated percentage			3.25%	3.25%
Lines of credit
Debt
Lines of credit facility, maximum borrowing capacity			$ 500,000			$ 500,000	$ 200,000
Short-term debt, weighted average interest rate, at point in time			5.83%	5.22%
Line of credit, current			$ 0	$ 78,000
3.50% notes, due 2022
Debt
Debt instrument, interest rate, stated percentage	3.50%
Repayments of senior debt	$ 350,000
Commercial paper
Debt
Lines of credit facility, maximum borrowing capacity			1,200,000
Short-term borrowings, including current portion of long-term debt			1,121,882	173,407
Commercial paper			$ 1,100,000	$ 173,400
Short-term debt, weighted average interest rate, at point in time			5.90%	5.15%
4.50% notes, due 2023
Debt
Short-term borrowings, including current portion of long-term debt			$ 0	$ 299,895
Debt instrument, interest rate, stated percentage		4.50%
Net proceeds from note offering		$ 496,300
Repayments of senior debt		$ 300,000

Debt - LT Debt (Details)

Debt - LT Debt (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Apr. 01, 2023	Mar. 31, 2023
Debt
Long-term debt	$ 2,153,553,000	$ 3,182,964,000
Accounts receivable, net	12,238,073,000	12,322,717,000
Long-term Debt, Maturities, Repayments of Principal in Year Two	550,700,000
Long-term Debt, Maturities, Repayments of Principal in Year Three	503,200,000
Long-term Debt, Maturities, Repayments of Principal in Year Four	110,900,000
Long-term Debt, Maturities, Repayments of Principal in Year Five	500,200,000
Long-term Debt, Maturities, Repayments of Principal after Year Five	500,000,000
Investment income, interest and dividend	66,400,000	33,700,000	$ 14,700,000
Interest paid, net of interest and dividend income	274,100,000	175,600,000	113,100,000
Net proceeds from note offering	$ 496,268,000	0	$ 495,134,000
Interest rate swap | Fair value hedging
Debt
Derivative, variable interest rate	0.508%
Revolving Credit Facility
Debt
Maximum borrowing capacity	$ 2,000,000,000
Long-term debt	$ 0	0
Debt instrument, interest rate, effective percentage	6.42%
Facility fee	0.175%
Debt instrument, basis spread on variable rate	0.10%
Derivative, basis spread on variable rate	1.08%
North American asset securitization program
Debt
Maximum borrowing capacity	$ 1,500,000,000
Long-term debt	$ 198,000,000	1,235,000,000
Debt instrument, interest rate, effective percentage	5.85%
Facility fee	0.40%
Debt instrument, basis spread on variable rate	0.10%
Accounts receivable, net	$ 2,700,000,000	3,100,000,000
3.25% notes, due 2024
Debt
Long-term debt	0	498,122,000
Debt instrument, fair value	$ 0	$ 481,500,000
Debt instrument, interest rate, stated percentage	3.25%	3.25%
4.00% notes, due 2025
Debt
Long-term debt	$ 349,061,000	$ 348,344,000
Debt instrument, fair value	$ 343,500,000	$ 338,000,000
Debt instrument, interest rate, stated percentage	4%	4%
6.125% notes, due 2026
Debt
Long-term debt	$ 497,661,000	$ 0
Debt instrument, fair value	$ 502,000,000	$ 0
Debt instrument, face amount					$ 500,000,000
Debt instrument, interest rate, effective percentage	5.87%				6.125%
Debt instrument, interest rate, stated percentage	6.125%	6.125%
7.50% senior debentures, due 2027
Debt
Long-term debt	$ 110,184,000	$ 110,103,000
Debt instrument, fair value	$ 117,000,000	$ 116,500,000
Debt instrument, interest rate, stated percentage	7.50%	7.50%
3.875% notes, due 2028
Debt
Long-term debt	$ 497,098,000	$ 496,448,000
Debt instrument, fair value	$ 475,000,000	$ 456,000,000
Debt instrument, interest rate, stated percentage	3.875%	3.875%
2.95% notes, due 2032
Debt
Long-term debt	$ 495,039,000	$ 494,522,000
Debt instrument, fair value	$ 425,000,000	$ 395,500,000
Debt instrument, interest rate, stated percentage	2.95%	2.95%
Other Debt Obligations
Debt
Long-term debt	$ 6,510,000	$ 425,000
4.50% notes, due 2023
Debt
Debt instrument, interest rate, stated percentage				4.50%

Financial Instruments Measure_3

Financial Instruments Measured at Fair Value (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Financial Instruments Measured at Fair Value
Debt and equity securities, unrealized gain (loss)		$ 9,700	$ (5,800)	$ 7,800
Proceeds from hedge financing activities	$ 56,700
Gain loss on sale of derivatives	$ 56,700
Marubun
Financial Instruments Measured at Fair Value
Equity method investment, ownership percentage		8.40%
Fair value, measurements, recurring
Financial Instruments Measured at Fair Value
Cash equivalents		$ 8,729	6,596
Equity investments		57,625	50,614
Interest rate swap designated as fair value hedge		(454)
Interest rate swaps designated as cash flow hedges			55,942
Foreign exchange contracts designated as net investment hedges		47,245	60,962
Total fair value assets and liabilities measured on recurring basis		113,145	174,114
Fair value, measurements, recurring | Fair value, inputs, level 1
Financial Instruments Measured at Fair Value
Cash equivalents		8,729	6,596
Equity investments		57,625	50,614
Interest rate swap designated as fair value hedge		0
Interest rate swaps designated as cash flow hedges			0
Foreign exchange contracts designated as net investment hedges		0	0
Total fair value assets and liabilities measured on recurring basis		66,354	57,210
Fair value, measurements, recurring | Fair value, inputs, level 2
Financial Instruments Measured at Fair Value
Cash equivalents		0	0
Equity investments		0	0
Interest rate swap designated as fair value hedge		(454)
Interest rate swaps designated as cash flow hedges			55,942
Foreign exchange contracts designated as net investment hedges		47,245	60,962
Total fair value assets and liabilities measured on recurring basis		46,791	116,904
Fair value, measurements, recurring | Fair value, inputs, level 3
Financial Instruments Measured at Fair Value
Cash equivalents		0	0
Equity investments		0	0
Interest rate swap designated as fair value hedge		0
Interest rate swaps designated as cash flow hedges			0
Foreign exchange contracts designated as net investment hedges		0	0
Total fair value assets and liabilities measured on recurring basis		$ 0	$ 0

Financial Instruments Measure_4

Financial Instruments Measured at Fair Value - Derivatives (Details) € in Thousands, $ in Thousands	3 Months Ended	12 Months Ended
	Apr. 01, 2023 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2023 EUR (€)	Dec. 31, 2022 EUR (€)
Financial Instruments Measured at Fair Value
Derivative Instruments, Gain (Loss) Recognized in Income		$ 4,117	$ 5,219	$ 5,718
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]		Interest Income (Expense), Net	Interest Income (Expense), Net	Interest Income (Expense), Net
Derivative Gain (Loss) Recognized in Other Comprehensive Income (Loss) before reclassifications, net of tax		$ (1,691)	$ 41,411	$ 40,365
Proceeds from settlement of net investment hedge	$ 10,700	10,725	0	0
Derivative, Notional Amount		1,000,000	1,300,000
Other comprehensive income (loss), derivative, excluded component, increase (decrease), before adjustments, after tax		(1,800)	1,800	(600)
Net investment hedging | Designated as hedging instrument
Financial Instruments Measured at Fair Value
Derivative Instruments, Gain (Loss) Recognized in Income		7,460	8,805	8,805
Derivative Gain (Loss) Recognized in Other Comprehensive Income (Loss) before reclassifications, net of tax		$ (2,276)	15,474	21,133
Fair value hedging | Interest rate swap
Financial Instruments Measured at Fair Value
Derivative, fixed interest rate		6.125%			6.125%
Derivative, variable interest rate		0.508%			0.508%
Derivative, Notional Amount		$ 500,000
Fair value hedging | Designated as hedging instrument | Interest rate swap
Financial Instruments Measured at Fair Value
Derivative Instruments, Gain (Loss) Recognized in Income		(454)	0	0
Cash flow hedging
Financial Instruments Measured at Fair Value
Derivative, Notional Amount			300,000
Cash flow hedging | Designated as hedging instrument | Interest rate swap
Financial Instruments Measured at Fair Value
Derivative Instruments, Gain (Loss) Recognized in Income		(2,889)	(3,586)	(3,087)
Derivative Gain (Loss) Recognized in Other Comprehensive Income (Loss) before reclassifications, net of tax		$ 585	$ 25,937	$ 19,232
Maturity March 2023 | Foreign exchange forward
Financial Instruments Measured at Fair Value
Derivative, Notional Amount | €					€ 0	€ 50,000
Maturity September 2024 | Foreign exchange forward
Financial Instruments Measured at Fair Value
Derivative, Notional Amount | €					50,000	50,000
Maturity April 2025 | Foreign exchange forward
Financial Instruments Measured at Fair Value
Derivative, Notional Amount | €					100,000	100,000
Maturity January 2028 | Foreign exchange forward
Financial Instruments Measured at Fair Value
Derivative, Notional Amount | €					100,000	100,000
All Maturities | Foreign exchange forward
Financial Instruments Measured at Fair Value
Derivative, Notional Amount | €					€ 250,000	€ 300,000
Maturity December 2024 | Cash flow hedging | Designated as hedging instrument | Interest rate swap
Financial Instruments Measured at Fair Value
Derivative, average fixed interest rate			0.97%			0.97%

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Contingency [Line Items]
Effective income tax rate reconciliation, at federal statutory income tax rate	21%	21%	21%
U.S. tax on foreign earnings		$ (3,879)	$ (10,289)
Taxes payable for the transition tax on foreign unremitted earnings	$ 6,900
Unrecognized tax benefits	82,808	75,666	71,422	$ 62,203
Unrecognized tax benefits, interest on income taxes expense	4,000	4,400	1,300
Unrecognized tax benefits, income tax penalties and interest accrued	17,500	13,500
Deferred tax assets, in process research and development	59,277	33,426
Tax credit carryforward, deferred tax asset	17,987	18,409
Undistributed earnings of foreign subsidiaries	4,800,000
Valuation allowance	200
Income taxes paid, net	538,400	384,400	221,100
International
Income Tax Contingency [Line Items]
Tax credit carryforward, amount	31,800
Tax credit carryforward, subject to expiration	5,100
Tax credit carryforward, no expiration	26,700
Tax credit carryforward, deferred tax asset	9,200
Other tax carryforward, valuation allowance	2,600
U.S. Federal
Income Tax Contingency [Line Items]
Tax credit carryforward, deferred tax asset	8,800
Other tax carryforward, valuation allowance	6,700
Undistributed Earnings
Income Tax Contingency [Line Items]
Undistributed foreign earnings	2,100,000
Tax Benefit Related To Federal GILTI Tax
Income Tax Contingency [Line Items]
U.S. tax on foreign earnings		$ (7,400)	$ (12,300)
Tax Expense Related To Federal GILTI Tax
Income Tax Contingency [Line Items]
U.S. tax on foreign earnings	$ (23,000)

Income Taxes - Provision for In

Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Taxes
Current Federal Tax Expense (Benefit)	$ 33,832	$ 139,730	$ 68,555
Current State and Local Tax Expense (Benefit)	16,108	29,117	18,418
Current International Tax Expense (Benefit)	299,031	293,195	214,184
Current Income Tax Expense (Benefit)	348,971	462,042	301,157
Deferred Federal Income Tax Expense (Benefit)	(59,342)	(39,658)	(347)
Deferred State and Local Income Tax Expense (Benefit)	(11,960)	(5,613)	(388)
Deferred International Income Tax Expense (Benefit)	(22,678)	32,221	25,484
Deferred Income Tax Expense (Benefit)	(93,980)	(13,050)	24,749
Provision for income taxes	$ 254,991	$ 448,992	$ 325,906

Income Taxes - Effective Income

Income Taxes - Effective Income Tax Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Taxes
United States	$ (38,848)	$ 517,642	$ 339,499
International	1,203,202	1,366,508	1,096,875
Income before income taxes	1,164,354	1,884,150	1,436,374
Provision at statutory tax rate	244,514	395,672	301,638
State taxes, net of federal benefit	2,379	18,675	14,162
International effective tax rate differential	27,993	26,210	(5,402)
Change in valuation allowance	(7,755)	(6,378)	(1,723)
Other non-deductible expenses	2,993	7,441	9,058
Changes in tax accruals	1,153	5,993	9,937
Tax credits	(7,666)	980	(17,555)
U.S. tax (benefit) on foreign earnings		3,879	10,289
U.S. tax (benefit) on foreign earnings, other	(10,075)
Other	1,455	(3,480)	5,502
Provision for income taxes	$ 254,991	$ 448,992	$ 325,906

Income Taxes - Unrecognized Tax

Income Taxes - Unrecognized Tax Benefits Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Unrecognized Tax Benefits Reconciliation
Balance at beginning of year	$ 75,666	$ 71,422	$ 62,203
Additions based on tax positions taken during a prior period	7,466	6,760	2,528
Reductions based on tax positions taken during a prior period	(4,448)	(3,007)	(1,542)
Additions based on tax positions taken during the current period	5,505	3,526	9,326
Reductions based on tax positions taken during the current period	0	0	(370)
Reductions related to settlement of tax matters	0	(2,271)	(692)
Reductions related to a lapse of applicable statute of limitations	(1,381)	(764)	(31)
Balance at end of year	$ 82,808	$ 75,666	$ 71,422

Income Taxes - Summary of Open

Income Taxes - Summary of Open Tax Positions (Details) - Minimum	12 Months Ended
	Dec. 31, 2023
United States Federal
Income Tax Contingency [Line Items]
Open Tax Years by Major Tax Jurisdiction	2016
United States State
Income Tax Contingency [Line Items]
Open Tax Years by Major Tax Jurisdiction	2015
Germany
Income Tax Contingency [Line Items]
Open Tax Years by Major Tax Jurisdiction	2015
China and Hong Kong
Income Tax Contingency [Line Items]
Open Tax Years by Major Tax Jurisdiction	2016
Italy
Income Tax Contingency [Line Items]
Open Tax Years by Major Tax Jurisdiction	2013
Netherlands
Income Tax Contingency [Line Items]
Open Tax Years by Major Tax Jurisdiction	2018
Sweden
Income Tax Contingency [Line Items]
Open Tax Years by Major Tax Jurisdiction	2018
Taiwan
Income Tax Contingency [Line Items]
Open Tax Years by Major Tax Jurisdiction	2018
United Kingdom
Income Tax Contingency [Line Items]
Open Tax Years by Major Tax Jurisdiction	2019

Income Taxes - Schedule of Defe

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets:
Net operating loss carryforwards	$ 17,987	$ 18,409
Capital loss carryforwards	0	56,618
Inventory adjustments	68,542	46,188
Allowance for credit losses	27,637	25,779
Accrued expenses	73,251	35,940
Interest carryforward	4,170	4,014
Stock-based compensation awards	5,692	7,559
Lease liability	68,605	71,415
Research and experimentation costs	59,277	33,426
Other	3,332	0
Deferred tax assets, gross	328,493	299,348
Valuation allowance	(15,832)	(75,842)
Total deferred tax assets	312,661	223,506
Deferred tax liabilities:
Goodwill	(152,551)	(144,287)
Depreciation	(58,419)	(76,527)
Intangible assets		(3,042)
Intangible assets, other	0
Lease right-of-use assets	(64,937)	(66,775)
Other comprehensive income items	(13,204)	(9,842)
Other	0	(3,002)
Total deferred tax liabilities	(289,111)	(303,475)
Total net deferred tax assets	23,550
Total net deferred tax assets (liabilities)		$ (79,969)
International
Deferred tax assets:
Net operating loss carryforwards	9,200
U.S. Federal
Deferred tax assets:
Net operating loss carryforwards	$ 8,800

Restructuring, Integration, a_3

Restructuring, Integration, and Other Charges - Components of the Restructuring, Integration, and Other Charges (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Restructuring, Integration, and Other Charges
Restructuring and integration charges	$ 8,877	$ 6,994	$ 16,673
Other charges (credits)	75,039	6,747	(1,280)
Restructuring, integration, and other charges	$ 83,916	$ 13,741	$ 15,393

Restructuring, Integration, a_4

Restructuring, Integration, and Other Charges - Activity in the Restructuring and Integration Accruals (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Restructuring Reserve [Roll Forward]
Beginning balance	$ 6,929
Restructuring and integration charges	8,877	$ 6,994	$ 16,673
Payments	(9,371)
Foreign currency translation	(548)
Ending balance	$ 5,887	$ 6,929

Restructuring, Integration, a_5

Restructuring, Integration, and Other Charges - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)
Restructuring, Integration, and Other Charges
Number of years for the accrual to be spent	1 year
Other charges related to early lease terminations	$ 29.4
Other charges related to increase in environmental liabilities	23.3
Personal charges related to operating expense reduction initiatives	$ 19.1

Shareholders' Equity - Componen

Shareholders' Equity - Components of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss		$ (298,039)	$ (365,262)	$ (191,657)
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax		(349,042)	(422,711)	(192,939)
Foreign Currency Translation Adjustment and Other		74,800	(231,464)	(133,106)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent		67,223	(173,605)
Foreign Currency Translation Adjustment and Other, Net		73,669	(229,772)
Gain(Loss) on Foreign Exchange Contracts Designated as Net Investment Hedges, Net		(7,952)	8,779	14,452
Gain on interest rate swaps designated as cash flow hedges, net of taxes		2,783	28,664	21,538
Employee Benefit Plan Items, Net		1,277	(18,724)	(7,150)
Other comprehensive income (loss) before reclassifications
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other Comprehensive (Income) Loss, Defined Benefit Plan, before Reclassification Adjustment, after Tax	[1]	(1,011)	17,245
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax	[1]	585	25,937
Foreign Currency Translation Adjustment and Other	[1]	72,949	(228,303)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	[1]	70,247	(169,647)
Gain(Loss) on Foreign Exchange Contracts Designated as Net Investment Hedges, Net	[1]	(2,276)	15,474
Gain (Loss) on Foreign Exchange Contracts Designated as Net Investment Hedges, Net
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss		12,159	20,111	11,332
Gain(Loss) on Foreign Exchange Contracts Designated as Net Investment Hedges, Net		(7,952)	8,779
Gain Loss On Interest Rate Swaps Designated As Cash Flow Hedges, Net
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss		30,638	27,855	(809)
Gain on interest rate swaps designated as cash flow hedges, net of taxes		2,783	28,664
Amounts reclassified into income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Foreign Currency Translation Adjustment and Other		720	(1,469)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent		(3,024)	(3,958)
Gain(Loss) on Foreign Exchange Contracts Designated as Net Investment Hedges, Net		(5,676)	(6,695)
Gain on interest rate swaps designated as cash flow hedges, net of taxes		2,198
Employee Benefit Plan Items, Net		(266)	1,479
Interest Rate Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net			2,727
Employee Benefit Plan Items, Net
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss		8,206	9,483	$ (9,241)
Employee Benefit Plan Items, Net		(1,277)	18,724
Intra-entity foreign currency transactions | Other comprehensive income (loss) before reclassifications
Accumulated Other Comprehensive Income (Loss) [Line Items]
Foreign Currency Translation Adjustment and Other		$ 21,200	$ (21,600)
[1] Foreign currency translation adjustment includes intra-entity foreign currency transactions that are of a long-term investment nature of $21.2 million and ($21.6) million for 2023 and 2022, respectively.

Shareholders' Equity - Common S

Shareholders' Equity - Common Stock Outstanding Activity (Details) - USD ($) shares in Thousands, $ in Billions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Preferred Stock, Shares Authorized	2,000,000	2,000,000
Common Stock Issued
Common stock outstanding, Beginning balance	125,424	125,424	125,424
Shares issued for stock-based compensation awards	0	0	0
Repurchases of common stock	0	0	0
Retirement of treasury shares	(67,733)
Common stock outstanding, Ending balance	57,691	125,424	125,424
Treasury Stock
Common stock outstanding, Beginning balance	66,175	57,358	50,581
Shares issued for stock-based compensation awards	(653)	(525)	(945)
Repurchases of common stock	(6,091)	(9,342)	(7,722)
Retirement of treasury shares	(67,733)
Common stock outstanding, Ending balance	3,880	66,175	57,358
Cost of retirement of treasury shares	$ 5.1
Common Stock Outstanding
Common stock outstanding, Beginning balance	59,249	68,066	74,843
Shares issued for stock-based compensation awards	653	525	945
Repurchases of common stock	(6,091)	(9,342)	(7,722)
Retirement of treasury shares	0
Common stock outstanding, Ending balance	53,811	59,249	68,066

Shareholders' Equity - Share-Re

Shareholders' Equity - Share-Repurchase Programs (Details) - USD ($) $ in Thousands, shares in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Jan. 31, 2023
Share-Repurchase Programs [Line Items]
Dollar Value Approved for Repurchase	$ 2,800,000
Dollar Value of Shares Repurchased	2,223,846
Approximate Dollar Value of Shares that May Yet be Purchased Under the Program	576,154
Payments for repurchase of common stock	770,200	$ 1,049,487	$ 911,548
July 2021
Share-Repurchase Programs [Line Items]
Dollar Value Approved for Repurchase	600,000
Dollar Value of Shares Repurchased	600,000
Approximate Dollar Value of Shares that May Yet be Purchased Under the Program	0
December 2021
Share-Repurchase Programs [Line Items]
Dollar Value Approved for Repurchase	600,000
Dollar Value of Shares Repurchased	600,000
Approximate Dollar Value of Shares that May Yet be Purchased Under the Program	0
September 2022
Share-Repurchase Programs [Line Items]
Dollar Value Approved for Repurchase	600,000
Dollar Value of Shares Repurchased	600,000
Approximate Dollar Value of Shares that May Yet be Purchased Under the Program	0
January 2023
Share-Repurchase Programs [Line Items]
Dollar Value Approved for Repurchase	1,000,000			$ 1,000,000
Dollar Value of Shares Repurchased	423,846
Approximate Dollar Value of Shares that May Yet be Purchased Under the Program	$ 576,154
Share repurchase program
Share-Repurchase Programs [Line Items]
Stock repurchased during period, shares	6.1	9.3
Payments for repurchase of common stock	$ 745,900	$ 1,000,000
Excise tax share repurchases
Share-Repurchase Programs [Line Items]
Payments for repurchase of common stock	$ 6,600

Net Income Per Share (Details)

Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Net Income Per Share
Net income attributable to shareholders	$ 903,505	$ 1,426,884	$ 1,108,197
Weighted-average shares outstanding - basic	56,359	64,838	72,472
Net effect of various dilutive stock-based compensation awards	676	615	913
Weighted-average shares outstanding - diluted	57,035	65,453	73,385
Net income per share:
Basic	$ 16.03	$ 22.01	$ 15.29
Diluted	$ 15.84	$ 21.80	$ 15.10
Equity awards excluded from diluted net income per share as their effect would have been anti-dilutive	32	53	0

Employee Stock Plans (Details)

Employee Stock Plans (Details) $ in Thousands, shares in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2021 USD ($)
Employee Stock Plans
Number of shares authorized | shares	24
Number of shares available for grant | shares	5	5.6
Share-Based Compensation Arrangement by share-based payment award, authorization rate	1.69
Amortization of stock-based compensation | $	$ 41,569	$ 42,930	$ 36,117
Tax benefits related to stock-based compensation awards | $	$ 8,900	$ 5,900	$ 8,600
Installments over a period	4 years
Contractual terms	10 years

Employee Stock Plans - Stock Op

Employee Stock Plans - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Employee Stock Plans
Outstanding beginning	568,319
Outstanding, Weighted-Average Exercise Price, beginning	$ 76.65
Exercised	(235,612)
Weighted-Average Exercise Price, Exercised	$ 74.75
Forfeited	(10,455)
Weighted-Average Exercise Price, Forfeited	$ 79.28
Outstanding ending	322,252	568,319
Outstanding, Weighted-Average Exercise Price, ending	$ 76.73	$ 76.65
Exercisable	272,555
Weighted-Average Exercise Price, Exercisable	$ 76.28
Outstanding, Weighted-Average Remaining Contractual Life	55 months
Exercisable, Weighted-Average Remaining Contractual Life	52 months
Outstanding, Aggregate Intrinsic Value	$ 14,668
Exercisable, Aggregate Intrinsic Value	12,529
Total intrinsic value of options exercised	12,500	$ 10,000	$ 26,600
Cash received from option exercises	$ 17,010	$ 17,340	$ 46,982
Vesting method on service period	3 years
Installments over a period	4 years
Directors' annual retainer fee	50%
Non-Employee
Employee Stock Plans
Installments over a period		1 year
Minimum
Employee Stock Plans
Percentage of performance awards deliverable in common stock	0%
Maximum
Employee Stock Plans
Percentage of performance awards deliverable in common stock	185%

Employee Stock Plans - Summary

Employee Stock Plans - Summary of Non-Vested Shares (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	May 31, 2023
Employee Stock Plans
Non-employee director award				$ 0.2
Non-vested shares balance beginning	927,662
Weighted-Average Grant Date Fair Value Non-vested shares balance beginning	$ 103.61
Granted	415,001
Weighted Average Grant Date Fair Value, Granted	$ 117.91
Vested	(463,056)
Weighted Average Grant Date Fair Value, Vested	$ 77.18
Forfeited	(59,387)
Weighted Average Grant Date Fair Value, Forfeited	$ 114.78
Non-vested shares balance ending	820,220	927,662
Weighted-Average Grant Date Fair Value Non-vested shares balance ending	$ 124.95	$ 103.61
Total fair value of shares vested	$ 50.9	$ 47.3	$ 37.3
Total unrecognized compensation cost related to non-vested shares and stock options	$ 33.9
Weighted-average period	2 years 2 months 12 days

Employee Benefit Plans - Narrat

Employee Benefit Plans - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) employee	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Actuarial gains (losses) recognized in other comprehensive income	$ (1)	$ 19.5	$ 4.2
Prior service (costs) recognized in other comprehensive income	(2.3)
Reclassification adjustment of comprehensive income recognized	(0.5)	0.6	1.9
Reclassification adjustment of comprehensive income recognized for prior service costs	0.3
Accumulated other comprehensive income (loss) includes unrecognized actuarial gains (losses), net of related taxes	7.3	8.8
Accumulated other comprehensive income (loss) includes prior service (costs)	2
Defined contribution plan, cost	21.2	20.3	19.1
Supplemental employee retirement plan
Defined Benefit Plan Disclosure [Line Items]
Funding in trust	114.9
Funding in rabbi trust	111.2
International
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan, cost	$ 22.6	$ 22.1	$ 23
Former Arrow SERP | Supplemental employee retirement plan
Defined Benefit Plan Disclosure [Line Items]
Number of participants | employee	25
Current Arrow SERP | Supplemental employee retirement plan
Defined Benefit Plan Disclosure [Line Items]
Number of participants | employee	12

Employee Benefit Plans - Pensio

Employee Benefit Plans - Pension Information and Benefit Payments (Details) - Supplemental employee retirement plan - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation	$ 77,737	$ 74,438
Projected benefit obligation at beginning of year	84,148	105,474
Service cost	3,250	3,296
Interest cost	4,082	2,782
Actuarial loss (gain)	1,328	(25,709)
Benefits paid	(4,724)	(4,724)
Plan amendments	0	3,029
Projected benefit obligation at end of year	88,084	84,148
Funded status	(88,084)	(84,148)
Current liabilities	(6,186)	(5,084)
Noncurrent liabilities	(81,898)	(79,064)
Amortization of prior service cost	336	0
Amortization of net loss	(668)	776
Net periodic pension cost	$ 7,000	$ 6,854
Weighted-average assumptions used to determine benefit obligation, Discount rate	4.80%	5%
Weighted-average assumptions used to determine benefit obligation, Rate of compensation increase	5%	5%
Weighted-average assumptions used to determine net periodic pension cost, Discount rate	5%	2.70%
Weighted-average assumptions used to determine net periodic pension cost, Rate of compensation increase	5%	5%
2024	$ 6,186
2025	6,076
2026	6,238
2027	6,109
2028	6,136
2029 - 2033	$ 36,358

Lease Commitments - Narrative (

Lease Commitments - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Lease Commitments
Lease expiration date	2032
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other assets	Other assets
Lease cost	$ 93.4	$ 92	$ 97.4
Lease terminations	$ (29.4)

Lease Commitments (Details)

Lease Commitments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Lease Commitments
Right-of-use asset	$ 269,524	$ 277,554
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other assets	Other assets
Lease liability - current	$ 74,232	$ 69,469
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued Liabilities, Current	Accrued Liabilities, Current
Lease liability - non-current	$ 210,110	$ 227,044
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other liabilities	Other liabilities
Total operating lease liabilities	$ 284,342	$ 296,513
Operating Lease, Liability, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilities	us-gaap:OtherLiabilities	us-gaap:OtherLiabilities
Cash paid for amounts included in the measurement of operating lease liabilities	$ 91,797	$ 88,235
Right-of-use assets obtained in exchange for operating lease obligations	$ 74,356	$ 104,210
Weighted-average remaining lease term in years	5 years	6 years
Weighted-average discount rate	4.60%	4.30%
2024	$ 83,637
2025	64,042
2026	50,696
2027	41,223
2028	33,491
Thereafter	47,675
Total lease payments	320,764
Less: imputed interest	$ (36,422)

Contingencies (Details)

Contingencies (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Contingencies
Recovery of direct costs	$ 47.2
Environmental liabilities	$ 23.3	$ 2.5
Environmental Remediation Expense, before Recovery, Statement of Income or Comprehensive Income [Extensible Enumeration]	Restructuring and Related Cost, Incurred Cost	Restructuring and Related Cost, Incurred Cost
Proceeds from legal settlements	$ 62.2	$ 0	$ 12.5
Huntsville Site
Contingencies
Environmental remediation expense	8.7
Project expenditures, low estimate	5.7
Project expenditures, high estimate	17.4
Norco Site | Remediation project management regulatory oversight and investigative and feasibility studies
Contingencies
Environmental remediation expense	83.1
Project expenditures, low estimate	22.1
Project expenditures, high estimate	$ 38.3

Segment and Geographic Inform_3

Segment and Geographic Information (Details) $ in Thousands		12 Months Ended
		Dec. 31, 2023 USD ($) segment	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Segment and geographic information
Number of reportable segments | segment		2
Sales:
Sales		$ 33,107,120	$ 37,124,422	$ 34,477,018
Operating income (loss):
Operating income (loss)		1,471,164	2,068,494	1,556,822
Proceeds from legal settlements		62,200	0	12,500
Restructuring, integration, and other charges		8,877	6,994	16,673
Restructuring charges, early lease terminations		83,916	13,741	15,393
Corporate
Operating income (loss):
Operating income (loss)	[1]	(355,006)	(301,150)	(265,468)
China and Hong Kong
Sales:
Sales		4,858,871	6,339,883	7,249,611
Germany
Sales:
Sales		4,341,837	4,715,806	4,007,381
Other foreign
Sales:
Sales		12,737,852	12,901,063	11,603,832
Non-US
Sales:
Sales		21,938,560	23,956,752	22,860,824
United States
Sales:
Sales		11,168,560	13,167,670	11,616,194
Operating segments
Sales:
Sales		33,107,120	37,124,422	34,477,018
Operating segments | Global components
Operating income (loss):
Operating income (loss)		1,459,166	1,961,125	1,432,187
Operating segments | Global ECS
Operating income (loss):
Operating income (loss)		367,004	408,519	390,103
Global components
Operating income (loss):
Proceeds from legal settlements		62,200		12,500
Restructuring, integration, and other charges				4,500
Global components | Operating segments
Sales:
Sales		25,419,899	28,788,003	26,357,517
Global components | Operating segments | Americas
Sales:
Sales		7,954,713	9,592,547	7,827,866
Global components | Operating segments | EMEA
Sales:
Sales		8,074,894	7,627,974	6,248,846
Global components | Operating segments | Asia-Pacific
Sales:
Sales		9,390,292	11,567,482	12,280,805
Global ECS
Operating income (loss):
Increase in charges to increase allowance for credit losses		24,000
Global ECS | Operating segments
Sales:
Sales		7,687,221	8,336,419	8,119,501
Global ECS | Operating segments | Americas
Sales:
Sales		4,160,298	4,847,027	4,878,954
Global ECS | Operating segments | EMEA
Sales:
Sales		3,526,923	3,489,392	3,240,547
Corporate
Operating income (loss):
Restructuring charges, early lease terminations		$ 83,900	$ 13,700	$ 10,900
[1] Corporate operating loss for the years 2023, 2022, and 2021 includes restructuring, integration, and other charges of $83.9 million, $13.7 million, and $10.9 million, respectively.

Segment and Geographic Inform_4

Segment and Geographic Information - Geographic Sales and Long-Lived Assets (Details) $ in Thousands	Dec. 31, 2023 USD ($) country	Dec. 31, 2022 USD ($)
Revenues from external customers and long lived assets
Assets	$ 21,726,168	$ 21,763,182
Long-lived assets	$ 800,264	874,010
Number of countries in which entity operates | country	85
Global Components | Operating segments
Revenues from external customers and long lived assets
Assets	$ 15,129,190	15,001,624
Global ECS | Operating segments
Revenues from external customers and long lived assets
Assets	6,051,459	6,124,184
Corporate
Revenues from external customers and long lived assets
Assets	545,519	637,374
Netherlands
Revenues from external customers and long lived assets
Long-lived assets	89,199	93,390
France
Revenues from external customers and long lived assets
Long-lived assets	87,861	68,048
Other foreign
Revenues from external customers and long lived assets
Long-lived assets	258,264	247,823
Non-US
Revenues from external customers and long lived assets
Long-lived assets	435,324	409,261
United States
Revenues from external customers and long lived assets
Long-lived assets	$ 364,940	$ 464,749

VALUATION AND QUALIFYING ACCO_2

VALUATION AND QUALIFYING ACCOUNTS (Details) - Allowance for credit loss - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Allowance for credit losses:
Allowance for credit losses, Balance at beginning of year		$ 93,397	$ 75,901	$ 92,792
Allowance for credit losses, Charged to Income		71,984	34,590	7,039
Allowance for credit losses, Other	[1]	690	(1,476)	(1,963)
Allowance for credit losses, Write-down		19,591	15,618	21,967
Allowance for credit losses, Balance at end of year		$ 146,480	$ 93,397	$ 75,901
[1] “Other” primarily includes the effect of fluctuations in foreign currencies and the allowance for credit losses of the businesses acquired and disposed of by the company .

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net Income (Loss)	$ 903,505	$ 1,426,884	$ 1,108,197

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Rule 10b5-1 Arrangement Modified	false
Non Rule 10b5-1 Arrangement Modified	false