Tech Data (TECD) 10-Q 31 Aug 16 2017 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jul. 31, 2016	Aug. 19, 2016
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jul. 31, 2016
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Trading Symbol	tecd
Entity Registrant Name	TECH DATA CORP
Entity Central Index Key	790,703
Current Fiscal Year End Date	--01-31
Entity Filer Category	Large Accelerated Filer
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	Yes
Entity Common Stock, Shares Outstanding		35,213,895

Consolidated Balance Sheet

Consolidated Balance Sheet - USD ($) $ in Thousands	Jul. 31, 2016	Jan. 31, 2016
Current assets:
Cash and cash equivalents	$ 697,047	$ 531,169
Accounts receivable, less allowances of $43,550 and $45,875	2,706,079	2,995,114
Inventories	2,145,070	2,117,384
Prepaid expenses and other assets	116,454	178,394
Total current assets	5,664,650	5,822,061
Property and equipment, net	72,138	66,028
Goodwill	206,040	204,114
Intangible assets, net	147,277	159,386
Other assets, net	113,353	106,699
Total assets	6,203,458	6,358,288
Current liabilities:
Accounts payable	3,240,578	3,427,580
Accrued expenses and other liabilities	415,177	487,003
Revolving credit loans and current maturities of long-term debt, net	12,939	18,063
Total current liabilities	3,668,694	3,932,646
Long-term debt, less current maturities	349,025	348,608
Other long-term liabilities	77,593	71,279
Total liabilities	4,095,312	4,352,533
Commitments and contingencies (Note 7)
Shareholders’ equity:
Common stock, par value $.0015; 200,000,000 shares authorized; 59,245,585 shares issued at July 31, 2016 and January 31, 2016	89	89
Additional paid-in capital	679,976	682,227
Treasury stock, at cost (24,031,690 and 24,163,402 shares at July 31, 2016 and January 31, 2016)	(1,071,561)	(1,077,434)
Retained earnings	2,513,965	2,434,198
Accumulated other comprehensive loss	(14,323)	(33,325)
Total shareholders' equity	2,108,146	2,005,755
Total liabilities and shareholders' equity	$ 6,203,458	$ 6,358,288

Consolidated Balance Sheet (Par

Consolidated Balance Sheet (Parenthetical) - USD ($) $ in Thousands	Jul. 31, 2016	Jan. 31, 2016
Statement of Financial Position [Abstract]
Allowance for doubtful accounts receivable and sales returns	$ 43,550	$ 45,875
Common stock, par value	$ 0.0015	$ 0.0015
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	59,245,585	59,245,585
Treasury stock, shares	24,031,690	24,163,402

Consolidated Statement Of Incom

Consolidated Statement Of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2016	Jul. 31, 2015	Jul. 31, 2016	Jul. 31, 2015
Income Statement [Abstract]
Net sales	$ 6,353,739	$ 6,580,393	$ 12,317,101	$ 12,467,622
Cost of products sold	6,037,289	6,255,114	11,702,040	11,850,454
Gross profit	316,450	325,279	615,061	617,168
Selling, general and administrative expenses	243,763	250,134	490,259	498,596
LCD settlements and other, net	(1,717)	(21,527)	(2,160)	(60,038)
Value added tax assessments	1,049	(9,563)	1,049	(9,563)
Operating expenses	243,095	219,044	489,148	428,995
Operating income	73,355	106,235	125,913	188,173
Interest expense	6,288	(3,320)	11,889	2,402
Other (income) expense, net	(1,230)	51	(2,264)	212
Income before income taxes	68,297	109,504	116,288	185,559
Provision for income taxes	21,903	33,092	36,521	57,870
Net income	$ 46,394	$ 76,412	$ 79,767	$ 127,689
Earnings per share:
Basic	$ 1.32	$ 2.09	$ 2.27	$ 3.48
Diluted	$ 1.31	$ 2.09	$ 2.26	$ 3.47
Weighted average common shares outstanding:
Basic	35,207	36,506	35,167	36,661
Diluted	35,378	36,615	35,373	36,829

Consolidated Statement Of Compr

Consolidated Statement Of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2016	Jul. 31, 2015	Jul. 31, 2016	Jul. 31, 2015
Statement of Comprehensive Income [Abstract]
Net income	$ 46,394	$ 76,412	$ 79,767	$ 127,689
Other comprehensive (loss) income:
Foreign currency translation adjustment	(76,990)	(25,893)	19,002	(17,413)
Total comprehensive (loss) income	$ (30,596)	$ 50,519	$ 98,769	$ 110,276

Consolidated Statement Of Cash

Consolidated Statement Of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jul. 31, 2016	Jul. 31, 2015
Cash flows from operating activities:
Cash received from customers	$ 13,910,326	$ 13,354,829
Cash paid to vendors and employees	(13,669,609)	(13,007,986)
Interest paid, net	(10,065)	(9,736)
Income taxes paid	(45,749)	(29,345)
Net cash provided by operating activities	184,903	307,762
Cash flows from investing activities:
Expenditures for property and equipment	(13,598)	(8,816)
Software and software development costs	(8,737)	(6,180)
Acquisition of businesses, net of cash acquired	(2,685)	(27,848)
Proceeds from sale of subsidiaries	0	18,747
Net cash used in investing activities	(25,020)	(24,097)
Cash flows from financing activities:
Payments for employee tax withholdings on equity awards	(4,218)	(4,456)
Net (repayments) borrowings on revolving credit loans	(4,783)	5,857
Proceeds from the reissuance of treasury stock	317	229
Cash paid for purchase of treasury stock	0	(110,092)
Principal payments on long-term debt	0	(238)
Acquisition earn-out payment	0	(2,736)
Net cash used in financing activities	(8,684)	(111,436)
Effect of exchange rate changes on cash and cash equivalents	14,679	(5,955)
Net increase in cash and cash equivalents	165,878	166,274
Cash and cash equivalents at beginning of year	531,169	542,995
Cash and cash equivalents at end of period	697,047	709,269
Reconciliation of net income to net cash provided by operating activities:
Net income	79,767	127,689
Adjustments to reconcile net income to net cash provided by operating activities:
Loss on disposal of subsidiaries	0	517
Depreciation and amortization	28,095	28,171
Provision for losses on accounts receivable	2,098	2,050
Stock-based compensation expense	7,470	7,778
Accretion of debt discount and debt issuance costs on Senior Notes	417	418
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	312,611	85,962
Inventories	(6,252)	(38,238)
Prepaid expenses and other assets	61,238	(34,129)
Accounts payable	(211,411)	134,777
Accrued expenses and other liabilities	(89,130)	(7,233)
Total adjustments	105,136	180,073
Net cash provided by operating activities	$ 184,903	$ 307,762

Business And Summary Of Signifi

Business And Summary Of Significant Accounting Policies Business and Summary of Significant Accounting Policies	6 Months Ended
	Jul. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure	NOTE 1 — BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Description of Business Tech Data Corporation (“Tech Data” or the “Company”) is one of the world’s largest wholesale distributors of technology products. The Company serves as an indispensable link in the technology supply chain by bringing products from the world’s leading technology vendors to market, as well as providing customers with advanced logistics capabilities and value-added services. Tech Data’s customers include value-added resellers, direct marketers, retailers and corporate resellers who support the diverse technology needs of end users. The Company is managed in two geographic segments: the Americas and Europe. Principles of Consolidation The consolidated financial statements include the accounts of Tech Data and its majority-owned and controlled subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. The Company operates on a fiscal year that ends on January 31. Basis of Presentation The consolidated financial statements have been prepared by the Company, without audit, pursuant to the rules and regulations of the United States Securities and Exchange Commission (“SEC”). The Company prepares its financial statements in conformity with generally accepted accounting principles in the United States (“GAAP”). These principles require management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments (consisting of only normal recurring adjustments) necessary to present fairly the consolidated financial position of the Company as of July 31, 2016 , its consolidated statements of income and comprehensive income for the three and six months ended July 31, 2016 and 2015 , and its consolidated cash flows for the six months ended July 31, 2016 and 2015 . Seasonality The Company’s quarterly operating results have fluctuated significantly in the past and will likely continue to do so in the future as a result of currency fluctuations and seasonal variations in the demand for the products and services offered. Narrow operating margins may magnify the impact of these factors on the Company's operating results. Recent historical seasonal variations have included an increase in European demand during the Company’s fiscal fourth quarter and decreased demand in other fiscal quarters. Given that the majority of the Company’s revenues are derived from Europe, the worldwide results closely follow the seasonality trends in Europe. The seasonal trend in Europe typically results in greater operating leverage, and therefore, lower selling, general and administrative expenses as a percentage of net sales in the region and on a consolidated basis during the second semester of the Company's fiscal year, particularly in the Company's fourth quarter. Therefore, the results of operations for the three and six months ended July 31, 2016 and 2015 are not necessarily indicative of the results that can be expected for the entire fiscal year ended January 31, 2017 . LCD settlements and other, net The Company has been a claimant in proceedings seeking damages primarily from certain manufacturers of LCD flat panel and cathode ray tube displays. The Company reached settlement agreements with certain manufacturers during the periods presented and has recorded these amounts, net of estimated attorney fees and expenses, in "LCD settlements and other, net" in the Consolidated Statement of Income. Accounts Receivable Purchase Agreements The Company has uncommitted accounts receivable purchase agreements under which certain accounts receivable may be sold, without recourse, to third-party financial institutions. Under these programs, the Company may sell certain accounts receivable in exchange for cash less a discount, as defined in the agreements. Available capacity under these programs, which the Company uses as a source of working capital funding, is dependent on the level of accounts receivable eligible to be sold into these programs and the financial institutions' willingness to purchase such receivables. In addition, certain of these agreements also require that the Company continue to service, administer and collect the sold accounts receivable. At July 31, 2016 and January 31, 2016 , the Company had a total of $479.6 million and $554.2 million , respectively, of accounts receivable sold to and held by financial institutions under these agreements. During the three months ended July 31, 2016 and 2015 , discount fees recorded under these facilities were $1.5 million and $1.0 million , respectively, and during the six months ended July 31, 2016 and 2015 , discount fees recorded under these facilities were $2.7 million and $1.9 million , respectively. These discount fees are included as a component of "other (income) expense, net" in the Consolidated Statement of Income. Goodwill The Company tests goodwill for impairment annually at the reporting unit level, or more frequently if current events and circumstances indicate a possible impairment. During the second quarter of fiscal year 2017, the Company elected to change the timing of its annual goodwill impairment testing from January 31st to November 1st. This accounting change is considered to be preferable because it allows the Company additional time to complete the annual goodwill impairment test. This change does not represent a material change to the method of applying an accounting principle, nor does this change result in adjustments to previously issued financial statements. The Company has concluded that it is impracticable to objectively determine projected cash flows and related valuation estimates that would have been used as of each November 1st of prior reporting periods. As a result, the Company will prospectively apply the change in the annual goodwill impairment testing date beginning November 1, 2016. This change in testing date did not delay, accelerate, or avoid a goodwill impairment charge. Recently Adopted Accounting Standards In April 2015, the FASB issued an accounting standard which provides guidance to customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, the license element should be accounted for consistent with the acquisition of other software licenses. If the cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The Company adopted this standard during the quarter ended April 30, 2016. The adoption of this standard did not have a material impact on the Company’s consolidated financial statements. In March 2016, the FASB issued an accounting standard which modifies how companies account for certain aspects of stock-based payments to employees. The new standard revises the accounting treatment for excess tax benefits, statutory income tax withholding requirements, and forfeitures related to stock-based awards. The standard is effective for annual periods beginning after December 15, 2016; however, early adoption is permitted. The Company early adopted this standard during the quarter ended April 30, 2016. The Company has elected to continue to estimate the number of stock-based awards expected to vest, as permitted by the new standard, rather than electing to account for forfeitures as they occur. The adoption of this standard did not have a material impact on the Company’s consolidated financial statements; however, as a result of the adoption of this standard, the classification of certain amounts in the Consolidated Statement of Cash Flows for the six months ended July 31, 2015 was retrospectively adjusted. Recently Issued Accounting Standards In May 2014, the FASB issued an accounting standard which will supersede all existing revenue recognition guidance under current GAAP. In March, April and May 2016, the FASB issued three additional accounting standard updates which provide supplemental adoption guidance and clarification to the May 2014 accounting standard update. The new standards require the recognition of revenue to depict the transfer of promised goods or services in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods and services. The standards will be effective for the Company beginning with the quarter ending April 30, 2018. The Company would have the option to adopt one year earlier and the standard may be adopted with either a full retrospective or a modified retrospective approach. The Company is currently in the process of assessing what impact these new standards may have on its consolidated financial statements. In July 2015, the FASB issued a new accounting standard that simplifies the subsequent measurement of inventory. Under the new standard, the cost of inventory will be compared to the net realizable value (NRV). Net realizable value is defined as the estimated selling prices in the ordinary course of business less reasonably predictable costs of completion, disposal and transportation. The standard should be applied prospectively and will be effective for the Company beginning with the quarter ending April 30, 2017. The Company does not expect the adoption of this standard to have a material impact on its consolidated financial statements. In February 2016, the FASB issued an accounting standard which requires the recognition of assets and liabilities arising from lease transactions on the balance sheet and the disclosure of additional information about leasing arrangements. Under the new guidance, for all leases, interest expense and amortization of the right to use asset will be recorded for leases determined to be financing leases and straight-line lease expense will be recorded for leases determined to be operating leases. Lessees will initially recognize assets for the right to use the leased assets and liabilities for the obligations created by those leases. The new accounting standard must be adopted using a modified retrospective approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The accounting standard is effective for the Company beginning with the quarter ended April 30, 2019, with early adoption permitted. The Company is currently in the process of assessing what impact this new standard may have on its consolidated financial statements. In June 2016, the FASB issued an accounting standard which revises the methodology for measuring credit losses on financial instruments and the timing of the recognition of those losses. Under the new standard, financial assets measured at an amortized cost basis are to be presented net of the amount not expected to be collected via an allowance for credit losses. Estimated credit losses are to be based on historical information adjusted for management's expectation that current conditions and supportable forecasts differ from historical experience. The accounting standard is effective for the Company beginning with the quarter ending April 30, 2020, with early adoption permitted. The Company is currently in the process of assessing what impact this new standard may have on its consolidated financial statements. Reclassifications Certain reclassifications have been made to prior period amounts to conform to the current period presentation. These reclassifications did not have a material impact on previously reported amounts.

Earnings Per Share (Notes)

Earnings Per Share (Notes)	6 Months Ended
	Jul. 31, 2016
Earnings Per Share [Abstract]
Earnings Per Share	NOTE 2 — EARNINGS PER SHARE ("EPS") The Company presents the computation of earnings per share on a basic and diluted basis. Basic EPS is computed by dividing net income by the weighted average number of shares outstanding during the reported period. Diluted EPS reflects the potential dilution related to equity-based incentives (further discussed in Note 3 – Stock-Based Compensation ) using the treasury stock method. The composition of basic and diluted EPS is as follows: Three months ended July 31, Six months ended July 31, 2016 2015 2016 2015 (in thousands, except per share data) Net income $ 46,394 $ 76,412 $ 79,767 $ 127,689 Weighted average common shares - basic 35,207 36,506 35,167 36,661 Effect of dilutive securities: Equity based awards 171 109 206 168 Weighted average common shares - diluted 35,378 36,615 35,373 36,829 Earnings per share: Basic $ 1.32 $ 2.09 $ 2.27 $ 3.48 Diluted $ 1.31 $ 2.09 $ 2.26 $ 3.47 For the three and six months ended July 31, 2016, there were 4,028 and 203,991 shares, respectively, excluded from the computation of diluted earnings per share because their effect would have been antidilutive. For the three and six months ended July 31, 2015, there were no shares excluded from the computation of diluted earnings per share because their effect would have been antidilutive.

Stock-Based Compensation (Notes

Stock-Based Compensation (Notes)	6 Months Ended
	Jul. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	NOTE 3 — STOCK-BASED COMPENSATION For the six months ended July 31, 2016 and 2015 , the Company recorded $7.5 million and $7.8 million , respectively, of stock-based compensation expense, which is included in “selling, general and administrative expenses” in the Consolidated Statement of Income. At July 31, 2016 , the Company had awards outstanding from two equity-based compensation plans, only one of which is currently active. The active plan was initially approved by the Company’s shareholders in June 2009 and includes 4.0 million shares available for grant of which approximately 2.2 million shares remain available for future grant at July 31, 2016 . Under the active plan, the Company is authorized to award officers, employees, and non-employee members of the Board of Directors restricted stock, options to purchase common stock, maximum value stock-settled stock appreciation rights, maximum value options, and performance awards that are dependent upon achievement of specified performance goals. Equity-based compensation awards have a maximum term of 10 years, unless a shorter period is specified by the Compensation Committee of the Board of Directors ("Compensation Committee") or is required under local law. Awards under the plans are priced as determined by the Compensation Committee, and under the terms of the Company’s active equity-based compensation plan, are required to be priced at, or above, the fair market value of the Company’s common stock on the date of grant. Awards generally vest between one and three years from the date of grant. A summary of the Company’s restricted stock activity for the six months ended July 31, 2016 is as follows: Shares Nonvested at January 31, 2016 496,329 Granted (a) 232,075 Vested (177,395 ) Canceled (6,898 ) Nonvested at July 31, 2016 544,111 (a) Includes 18,563 shares of performance-based restricted stock units, which assumes maximum achievement. The Company’s policy is to utilize shares of its treasury stock, to the extent available, to satisfy its obligation to issue shares upon the exercise of awards.

Shareholders' Equity (Notes)

Shareholders' Equity (Notes)	6 Months Ended
	Jul. 31, 2016
Shareholders Equity [Abstract]
Shareholders' Equity and Share-based Payments	NOTE 4 — SHAREHOLDERS' EQUITY The Company’s common share issuance activity for the six months ended July 31, 2016 is summarized as follows: Shares Weighted-average Treasury stock balance at January 31, 2016 24,163,402 $ 44.59 Shares of treasury stock reissued (131,712 ) Treasury stock balance at July 31, 2016 24,031,690 $ 44.59 There were no common shares repurchased by the Company during the six months ended July 31, 2016 . The reissuance of shares from treasury stock is based on the weighted average purchase price of the shares.

Fair Value Measurements (Notes)

Fair Value Measurements (Notes)	6 Months Ended
	Jul. 31, 2016
Fair Value Measurements [Abstract]
Fair Value Disclosures	NOTE 5 — FAIR VALUE MEASUREMENTS The Company’s assets and liabilities carried or disclosed at fair value are classified in one of the following three categories: Level 1 – quoted market prices in active markets for identical assets and liabilities; Level 2 – inputs other than quoted market prices included in Level 1 above that are observable for the asset or liability, either directly or indirectly; and Level 3 – unobservable inputs for the asset or liability. The classification of an asset or liability within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. The following table summarizes the valuation of the Company's assets and liabilities that are measured at fair value on a recurring basis (in thousands): July 31, 2016 January 31, 2016 Fair value measurement category Fair value measurement category Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 ASSETS Foreign currency forward contracts $ 6,300 $ 3,412 LIABILITIES Foreign currency forward contracts $ 1,845 $ 2,274 The Company's foreign currency forward contracts are measured on a recurring basis based on foreign currency spot rates and forward rates quoted by banks or foreign currency dealers (Level 2 criteria) and are marked-to-market each period with gains and losses on these contracts recorded in the Consolidated Statement of Income on a basis consistent with the classification of the change in the fair value of the underlying transactions giving rise to these foreign currency exchange gains and losses in the period in which their value changes, with the offsetting amount for unsettled positions being included in either "prepaid expenses and other assets" or "accrued expenses and other liabilities" in the Consolidated Balance Sheet. See further discussion below in Note 6 – Derivative Instruments . The Company utilizes life insurance policies to fund the Company’s nonqualified deferred compensation plan. The life insurance asset recorded by the Company is the amount that would be realized upon the assumed surrender of the policy. This amount is based on the underlying fair value of the invested assets contained within the life insurance policies. The gains and losses are recorded in the Company’s Consolidated Statement of Income within "other (income) expense, net." The related deferred compensation liability is also marked-to-market each period based upon the returns of the various investments selected by the plan participants and the gains and losses are recorded in the Company’s Consolidated Statement of Income within "selling, general and administrative expenses." The net realizable value of the Company's life insurance investments and related deferred compensation liability was $35.1 million and $35.2 million , respectively, at July 31, 2016 and $30.2 million and $30.5 million , respectively, at January 31, 2016. In September 2012, the Company issued $350.0 million aggregate principal amount of 3.75% Senior Notes in a public offering (the "Senior Notes") which are carried at cost, less unamortized debt discount and debt issuance costs. As of July 31, 2016 and January 31, 2016 , the estimated fair value of the Senior Notes was approximately $356.9 million and $359.6 million , respectively, based upon quoted market information (Level 1 criteria). The carrying amounts of cash and cash equivalents, accounts receivable, accounts payable and accrued expenses approximate fair value because of the short maturity of these items. The carrying amount of debt outstanding pursuant to revolving credit facilities and loans payable approximates fair value as the majority of these instruments have variable interest rates which approximate current market rates (Level 2 criteria).

Derivative Instruments

Derivative Instruments	6 Months Ended
	Jul. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	NOTE 6 — DERIVATIVE INSTRUMENTS In the ordinary course of business, the Company is exposed to movements in foreign currency exchange rates. The Company’s foreign currency risk management objective is to protect earnings and cash flows from the impact of exchange rate changes primarily through the use of foreign currency forward contracts to hedge both intercompany and third party loans, accounts receivable and accounts payable. These derivatives are not designated as hedging instruments. 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 transactions in its foreign operations are denominated primarily in the following currencies: British pound, Canadian dollar, Czech koruna, Danish krone, euro, Mexican peso, Norwegian krone, Polish zloty, Swedish krona, Swiss franc and U.S. dollar. The Company considers inventory as an economic hedge against foreign currency exposure in accounts payable in certain circumstances. This practice offsets such inventory against corresponding accounts payable denominated in currencies other than the functional currency of the subsidiary buying the inventory when determining the net exposure to be hedged using traditional forward contracts. Under this strategy, the Company would expect to increase or decrease selling prices for products purchased in foreign currencies based on fluctuations in foreign currency exchange rates affecting the underlying accounts payable. To the extent the Company incurs a foreign currency exchange loss (gain) on the underlying accounts payable denominated in the foreign currency, a corresponding increase (decrease) in gross profit would be expected as the related inventory is sold. This strategy can result in a certain degree of quarterly earnings volatility as the underlying accounts payable is remeasured using the foreign currency exchange rate prevailing at the end of each period, or settlement date if earlier, whereas the corresponding increase (decrease) in gross profit is not realized until the related inventory is sold. The Company recognizes foreign currency exchange gains and losses on its derivative instruments used to manage its exposures to foreign currency denominated accounts receivable and accounts payable as a component of “cost of products sold” which is consistent with the classification of the change in fair value upon remeasurement of the underlying hedged accounts receivable or accounts payable. The Company recognizes foreign currency exchange gains and losses on its derivative instruments used to manage its exposures to foreign currency denominated financing transactions as a component of “other (income) expense, net” which is consistent with the classification of the change in fair value upon remeasurement of the underlying hedged loans. The total amount recognized in earnings on the Company's foreign currency forward contracts, which depending upon the nature of the underlying hedged asset or liability is included as a component of either “cost of products sold” or “other (income) expense, net”, was a net foreign currency exchange gain of $6.6 million and $5.9 million , respectively, for the three months ended July 31, 2016 and 2015 , and a net foreign currency exchange loss of $0.8 million and $2.1 million , respectively, for the six months ended July 31, 2016 and 2015 . The gains and losses on the Company’s foreign currency forward contracts are largely offset by the change in the fair value of the underlying hedged assets or liabilities. The notional amount of forward exchange contracts is the amount of foreign currency to be bought or sold at maturity. Notional amounts are indicative of the extent of the Company’s involvement in the various types and uses of derivative financial instruments and are not a measure of the Company’s exposure to credit or market risks through its use of derivatives. The estimated fair value of derivative financial instruments represents the amount required to enter into similar offsetting contracts with similar remaining maturities based on quoted market prices. The Company's average notional amounts of derivative financial instruments outstanding during the three months ended July 31, 2016 and 2015 were approximately $0.5 billion and $0.6 billion , respectively, with average maturities of 32 days and 33 days , respectively. The Company's average notional amounts of derivative financial instruments outstanding during both the six months ended July 31, 2016 and 2015 were approximately $0.5 billion with average maturities of 31 days and 35 days , respectively. As discussed above, under the Company's hedging policies, gains and losses on the derivative financial instruments are largely offset by the gains and losses on the underlying assets or liabilities being hedged. The Company’s foreign currency forward contracts are also discussed in Note 5 – Fair Value Measurements .

Commitments and Contingencies (

Commitments and Contingencies (Notes)	6 Months Ended
	Jul. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 7 — COMMITMENTS & CONTINGENCIES Synthetic Lease Facility The Company has a synthetic lease facility with a group of financial institutions (the “Synthetic Lease”) under which the Company leases certain logistics centers and office facilities from a third-party lessor, that expires in June 2018. Properties leased under the Synthetic Lease are located in Clearwater and Miami, Florida; Fort Worth, Texas; Fontana, California; Suwanee, Georgia; Swedesboro, New Jersey; and South Bend, Indiana. The Synthetic Lease is accounted for as an operating lease and rental payments are calculated at the applicable LIBOR rate plus a margin based on the Company's credit ratings. Upon not less than 30 days notice, the Company, at its option, may purchase one or any combination of the properties, at an amount equal to each of the property's cost, as long as the lease balance does not decrease below a defined amount. Upon not less than 270 days, nor more than 360 days, prior to the lease expiration, the Company may, at its option, (i) purchase a minimum of two of the properties, at an amount equal to each of the property's cost, (ii) exercise the option to renew the lease for a minimum of two of the properties or (iii) exercise the option to remarket a minimum of two of the properties and cause a sale of the properties. If the Company elects to remarket the properties, the Company has guaranteed the lessor a percentage of the cost of each property, in the aggregate amount of approximately $133.8 million . Future annual lease payments under the Synthetic Lease are approximately $2.9 million per year. Guarantees The Company has arrangements with certain finance companies that provide inventory financing facilities to the Company’s customers. In conjunction with certain of these arrangements, the Company would be required to purchase certain inventory in the event the inventory is repossessed from the customers by the finance companies. As the Company does not have access to information regarding the amount of inventory purchased from the Company still on hand with the customer at any point in time, the Company’s repurchase obligations relating to inventory cannot be reasonably estimated. Repurchases of inventory by the Company under these arrangements have been insignificant to date. The Company believes that, based on historical experience, the likelihood of a material loss pursuant to these inventory repurchase obligations is remote. The Company provides additional financial guarantees to finance companies on behalf of certain customers. The majority of these guarantees are for an indefinite period of time, where the Company would be required to perform if the customer is in default with the finance company related to purchases made from the Company. The Company reviews the underlying credit for these guarantees on at least an annual basis. As of July 31, 2016 and January 31, 2016 , the outstanding amount of guarantees under these arrangements totaled $5.0 million and $4.6 million , respectively. The Company believes that, based on historical experience, the likelihood of a material loss pursuant to the above guarantees is remote. Contingencies Prior to fiscal 2004, one of the Company’s subsidiaries, located in Spain, was audited in relation to various value added tax (“VAT”) matters. As a result of those audits, the Spanish subsidiary received notices of assessment related to fiscal years 1994 through 2001 from the Regional Inspection Unit of Spain’s taxing authority that allege the subsidiary did not properly collect and remit VAT. The Spanish subsidiary appealed these assessments to the Madrid Central Economic Administrative Courts beginning in March 2010. Following the administrative court proceedings the matter was appealed to the Spanish National Appellate Court. During 2013, the Spanish National Appellate Court issued an opinion upholding the assessments for several of the assessed years. During fiscal 2015, the Madrid Central Economic Administrative Court issued a decision revoking the penalties for certain of the assessed years. During fiscal 2016, the Spanish Supreme Court issued final decisions for the assessments related to fiscal years 1996 through 2001 which barred certain of the assessed amounts. As a result of these decisions, during the three months ended July 31, 2015, the Company decreased its accrual for costs associated with this matter by $25.4 million , including $16.4 million related to an accrual for assessments and penalties recorded in “value added tax assessments” and $9.0 million related to accrued interest recorded in “interest expense” in the Consolidated Statement of Income. The Company paid the remaining assessed amounts for fiscal years 1996 through 2001 of $12.3 million during the third quarter of fiscal 2016. During the second quarter of fiscal 2017, the Spanish National Appellate Court issued an opinion upholding the assessments for fiscal years 1994 and 1995. Although the Company believes that the Spanish subsidiary's defense to the assessments has solid legal grounds and is continuing to vigorously defend its position by appealing to the Spanish Supreme Court, certain of the amounts assessed for fiscal years 1994 and 1995 are not eligible to be appealed to the Spanish Supreme Court. As a result, the Company increased its accrual for costs associated with this matter by $2.6 million in the second quarter of fiscal 2017, including $1.5 million recorded in "value added tax assessments" and $1.1 million recorded in "interest expense" in the Consolidated Statement of Income. The Company estimates the probable liability for these remaining assessments, including various penalties and interest, was approximately $7.4 million at July 31, 2016 which is included in "accrued expenses and other liabilities" in the Consolidated Balance Sheet. In December 2010, in a non-unanimous decision, a Brazilian appellate court overturned a 2003 trial court which had previously ruled in favor of the Company’s Brazilian subsidiary related to the imposition of certain taxes on payments abroad related to the licensing of commercial software products, commonly referred to as “CIDE tax.” The Company estimates the total exposure related to the CIDE tax, including interest, was approximately $21.9 million at July 31, 2016 . The Brazilian subsidiary has appealed the unfavorable ruling to the Supreme Court and Superior Court, Brazil's two highest appellate courts. Based on the legal opinion of outside counsel, the Company believes that the chances of success on appeal of this matter are favorable and the Brazilian subsidiary intends to vigorously defend its position that the CIDE tax is not due. However, due to the lack of predictability of the Brazilian court system, the Company has concluded that it is reasonably possible that the Brazilian subsidiary may incur a loss up to the total exposure described above. The Company believes the resolution of this litigation will not be material to the Company’s consolidated net assets or liquidity. In addition to the CIDE tax matter discussed above, the Company’s Brazilian subsidiary has been undergoing several examinations of non-income related taxes. Given the lack of predictability of the Brazilian tax system, the Company believes that it is reasonably possible that a loss may have been incurred. However, due to the complex nature of the Brazilian tax system and the absence of communication from the local tax authorities regarding these examinations, the Company is currently unable to determine the likelihood of these examinations resulting in assessments or to estimate the amount of loss, if any, that may be reasonably possible if such assessment were to be made. In the second quarter of fiscal 2016, the Company determined that it had additional VAT liabilities due in one of its European subsidiaries. As a result, the Company recorded a charge of $6.8 million in “value added tax assessments” in the Consolidated Statement of Income during the second quarter of fiscal 2016 representing the probable liability for VAT and associated penalties. The Company has subsequently paid all VAT associated with this matter and filed amended tax returns with the tax authorities. The Company is subject to various other legal proceedings and claims arising in the ordinary course of business. The Company’s management does not expect that the outcome in any of these other legal proceedings, individually or collectively, will have a material adverse effect on the Company’s financial condition, results of operations or cash flows.

Segment Information (Notes)

Segment Information (Notes)	6 Months Ended
	Jul. 31, 2016
Segment Reporting [Abstract]
Segment Reporting	NOTE 8 — SEGMENT INFORMATION The Company operates predominantly in a single industry segment as a distributor of technology products, logistics management, and other value-added services. While the Company operates primarily in one industry, it is managed based on geographic segments: the Americas and Europe. The Company does not consider stock-based compensation expense in assessing the performance of its operating segments, and therefore the Company reports stock-based compensation expense as a separate amount. The accounting policies of the segments are the same as those described in Note 1 – Business and Summary of Significant Accounting Policies . Financial information by geographic segment is as follows (in thousands): Three months ended July 31, Six months ended July 31, 2016 2015 2016 2015 Net sales to unaffiliated customers: Americas (1) $ 2,674,886 $ 2,745,429 $ 5,062,890 $ 5,084,689 Europe 3,678,853 3,834,964 7,254,211 7,382,933 Total $ 6,353,739 $ 6,580,393 $ 12,317,101 $ 12,467,622 Operating income: Americas (2) $ 41,241 $ 60,752 $ 72,516 $ 123,111 Europe (3) 35,927 49,443 60,867 72,840 Stock-based compensation expense (3,813 ) (3,960 ) (7,470 ) (7,778 ) Total $ 73,355 $ 106,235 $ 125,913 $ 188,173 Depreciation and amortization: Americas $ 4,905 $ 4,472 $ 9,795 $ 8,513 Europe 9,143 9,520 18,300 19,658 Total $ 14,048 $ 13,992 $ 28,095 $ 28,171 Capital expenditures: Americas $ 5,388 $ 4,222 $ 11,485 $ 8,086 Europe 5,384 3,530 10,850 6,910 Total $ 10,772 $ 7,752 $ 22,335 $ 14,996 As of: July 31, 2016 January 31, 2016 Identifiable assets: Americas $ 2,162,473 $ 2,078,443 Europe 4,040,985 4,279,845 Total $ 6,203,458 $ 6,358,288 Long-lived assets: Americas (1) $ 33,851 $ 29,402 Europe 38,287 36,626 Total $ 72,138 $ 66,028 Goodwill & acquisition-related intangible assets, net: Americas $ 34,455 $ 35,615 Europe 265,055 274,401 Total $ 299,510 $ 310,016 (1) Net sales to unaffiliated customers in the United States represented 91% of the total Americas' net sales to unaffiliated customers for the three months ended July 31, 2016 and 2015 , and 89% of the total Americas' net sales to unaffiliated customers for the six months ended July 31, 2016 and 2015 . Total long-lived assets in the United States represented 95% of the Americas' total long-lived assets at both July 31, 2016 and January 31, 2016 . (2) Operating income in the Americas includes a gain recorded in LCD settlements and other, net, of $2.6 million and $21.5 million , respectively, for the three months ended July 31, 2016 and 2015, and $3.1 million and $60.0 million , respectively, for the six months ended July 31, 2016 and 2015 (see further discussion in Note 1 – Business and Summary of Significant Accounting Policies ). (3) Operating income in Europe for the three and six months ended July 31, 2016 includes an increase of $1.5 million in the accrual for assessments and penalties for a VAT matter in the Company's subsidiary in Spain. Operating income in Europe for the three and six months ended July 31, 2015 includes a net decrease of $9.6 million in the accrual for assessments and penalties for various VAT matters in two European subsidiaries (see further discussion in Note 7 – Commitments & Contingencies ).

Business And Summary Of Signi15

Business And Summary Of Significant Accounting Policies (Policy)	6 Months Ended
	Jul. 31, 2016
Accounting Policies [Abstract]
Nature of Operations	Tech Data Corporation (“Tech Data” or the “Company”) is one of the world’s largest wholesale distributors of technology products. The Company serves as an indispensable link in the technology supply chain by bringing products from the world’s leading technology vendors to market, as well as providing customers with advanced logistics capabilities and value-added services. Tech Data’s customers include value-added resellers, direct marketers, retailers and corporate resellers who support the diverse technology needs of end users. The Company is managed in two geographic segments: the Americas and Europe.
Consolidation, Policy	The consolidated financial statements include the accounts of Tech Data and its majority-owned and controlled subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. The Company operates on a fiscal year that ends on January 31.
Basis of Accounting, Policy	The consolidated financial statements have been prepared by the Company, without audit, pursuant to the rules and regulations of the United States Securities and Exchange Commission (“SEC”). The Company prepares its financial statements in conformity with generally accepted accounting principles in the United States (“GAAP”). These principles require management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments (consisting of only normal recurring adjustments) necessary to present fairly the consolidated financial position of the Company as of July 31, 2016 , its consolidated statements of income and comprehensive income for the three and six months ended July 31, 2016 and 2015 , and its consolidated cash flows for the six months ended July 31, 2016 and 2015 .
Seasonal Fluctuations Policy	The Company’s quarterly operating results have fluctuated significantly in the past and will likely continue to do so in the future as a result of currency fluctuations and seasonal variations in the demand for the products and services offered. Narrow operating margins may magnify the impact of these factors on the Company's operating results. Recent historical seasonal variations have included an increase in European demand during the Company’s fiscal fourth quarter and decreased demand in other fiscal quarters. Given that the majority of the Company’s revenues are derived from Europe, the worldwide results closely follow the seasonality trends in Europe. The seasonal trend in Europe typically results in greater operating leverage, and therefore, lower selling, general and administrative expenses as a percentage of net sales in the region and on a consolidated basis during the second semester of the Company's fiscal year, particularly in the Company's fourth quarter. Therefore, the results of operations for the three and six months ended July 31, 2016 and 2015 are not necessarily indicative of the results that can be expected for the entire fiscal year ended January 31, 2017 .
Gain (Loss) Related to Litigation Settlement	The Company has been a claimant in proceedings seeking damages primarily from certain manufacturers of LCD flat panel and cathode ray tube displays. The Company reached settlement agreements with certain manufacturers during the periods presented and has recorded these amounts, net of estimated attorney fees and expenses, in "LCD settlements and other, net" in the Consolidated Statement of Income.
Accounts Receivable Purchase Facility Program, Policy	The Company has uncommitted accounts receivable purchase agreements under which certain accounts receivable may be sold, without recourse, to third-party financial institutions. Under these programs, the Company may sell certain accounts receivable in exchange for cash less a discount, as defined in the agreements. Available capacity under these programs, which the Company uses as a source of working capital funding, is dependent on the level of accounts receivable eligible to be sold into these programs and the financial institutions' willingness to purchase such receivables. In addition, certain of these agreements also require that the Company continue to service, administer and collect the sold accounts receivable. At July 31, 2016 and January 31, 2016 , the Company had a total of $479.6 million and $554.2 million , respectively, of accounts receivable sold to and held by financial institutions under these agreements. During the three months ended July 31, 2016 and 2015 , discount fees recorded under these facilities were $1.5 million and $1.0 million , respectively, and during the six months ended July 31, 2016 and 2015 , discount fees recorded under these facilities were $2.7 million and $1.9 million , respectively. These discount fees are included as a component of "other (income) expense, net" in the Consolidated Statement of Income.
Accounting Changes	Goodwill The Company tests goodwill for impairment annually at the reporting unit level, or more frequently if current events and circumstances indicate a possible impairment. During the second quarter of fiscal year 2017, the Company elected to change the timing of its annual goodwill impairment testing from January 31st to November 1st. This accounting change is considered to be preferable because it allows the Company additional time to complete the annual goodwill impairment test. This change does not represent a material change to the method of applying an accounting principle, nor does this change result in adjustments to previously issued financial statements. The Company has concluded that it is impracticable to objectively determine projected cash flows and related valuation estimates that would have been used as of each November 1st of prior reporting periods. As a result, the Company will prospectively apply the change in the annual goodwill impairment testing date beginning November 1, 2016. This change in testing date did not delay, accelerate, or avoid a goodwill impairment charge.
Recently Adopted Accounting Standards	In April 2015, the FASB issued an accounting standard which provides guidance to customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, the license element should be accounted for consistent with the acquisition of other software licenses. If the cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The Company adopted this standard during the quarter ended April 30, 2016. The adoption of this standard did not have a material impact on the Company’s consolidated financial statements. In March 2016, the FASB issued an accounting standard which modifies how companies account for certain aspects of stock-based payments to employees. The new standard revises the accounting treatment for excess tax benefits, statutory income tax withholding requirements, and forfeitures related to stock-based awards. The standard is effective for annual periods beginning after December 15, 2016; however, early adoption is permitted. The Company early adopted this standard during the quarter ended April 30, 2016. The Company has elected to continue to estimate the number of stock-based awards expected to vest, as permitted by the new standard, rather than electing to account for forfeitures as they occur. The adoption of this standard did not have a material impact on the Company’s consolidated financial statements; however, as a result of the adoption of this standard, the classification of certain amounts in the Consolidated Statement of Cash Flows for the six months ended July 31, 2015 was retrospectively adjusted.
New Accounting Pronouncements, Policy	In May 2014, the FASB issued an accounting standard which will supersede all existing revenue recognition guidance under current GAAP. In March, April and May 2016, the FASB issued three additional accounting standard updates which provide supplemental adoption guidance and clarification to the May 2014 accounting standard update. The new standards require the recognition of revenue to depict the transfer of promised goods or services in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods and services. The standards will be effective for the Company beginning with the quarter ending April 30, 2018. The Company would have the option to adopt one year earlier and the standard may be adopted with either a full retrospective or a modified retrospective approach. The Company is currently in the process of assessing what impact these new standards may have on its consolidated financial statements. In July 2015, the FASB issued a new accounting standard that simplifies the subsequent measurement of inventory. Under the new standard, the cost of inventory will be compared to the net realizable value (NRV). Net realizable value is defined as the estimated selling prices in the ordinary course of business less reasonably predictable costs of completion, disposal and transportation. The standard should be applied prospectively and will be effective for the Company beginning with the quarter ending April 30, 2017. The Company does not expect the adoption of this standard to have a material impact on its consolidated financial statements. In February 2016, the FASB issued an accounting standard which requires the recognition of assets and liabilities arising from lease transactions on the balance sheet and the disclosure of additional information about leasing arrangements. Under the new guidance, for all leases, interest expense and amortization of the right to use asset will be recorded for leases determined to be financing leases and straight-line lease expense will be recorded for leases determined to be operating leases. Lessees will initially recognize assets for the right to use the leased assets and liabilities for the obligations created by those leases. The new accounting standard must be adopted using a modified retrospective approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The accounting standard is effective for the Company beginning with the quarter ended April 30, 2019, with early adoption permitted. The Company is currently in the process of assessing what impact this new standard may have on its consolidated financial statements. In June 2016, the FASB issued an accounting standard which revises the methodology for measuring credit losses on financial instruments and the timing of the recognition of those losses. Under the new standard, financial assets measured at an amortized cost basis are to be presented net of the amount not expected to be collected via an allowance for credit losses. Estimated credit losses are to be based on historical information adjusted for management's expectation that current conditions and supportable forecasts differ from historical experience. The accounting standard is effective for the Company beginning with the quarter ending April 30, 2020, with early adoption permitted. The Company is currently in the process of assessing what impact this new standard may have on its consolidated financial statements.
Reclassification, Policy	Certain reclassifications have been made to prior period amounts to conform to the current period presentation. These reclassifications did not have a material impact on previously reported amounts.

Earnings Per Share Details (Tab

Earnings Per Share Details (Tables)	6 Months Ended
	Jul. 31, 2016
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Schedule of Earnings Per Share, Basic and Diluted	The composition of basic and diluted EPS is as follows: Three months ended July 31, Six months ended July 31, 2016 2015 2016 2015 (in thousands, except per share data) Net income $ 46,394 $ 76,412 $ 79,767 $ 127,689 Weighted average common shares - basic 35,207 36,506 35,167 36,661 Effect of dilutive securities: Equity based awards 171 109 206 168 Weighted average common shares - diluted 35,378 36,615 35,373 36,829 Earnings per share: Basic $ 1.32 $ 2.09 $ 2.27 $ 3.48 Diluted $ 1.31 $ 2.09 $ 2.26 $ 3.47

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jul. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Nonvested Restricted Stock Units Activity	A summary of the Company’s restricted stock activity for the six months ended July 31, 2016 is as follows: Shares Nonvested at January 31, 2016 496,329 Granted (a) 232,075 Vested (177,395 ) Canceled (6,898 ) Nonvested at July 31, 2016 544,111 (a) Includes 18,563 shares of performance-based restricted stock units, which assumes maximum achievement.

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	6 Months Ended
	Jul. 31, 2016
Shareholders Equity [Abstract]
Class of Treasury Stock	The Company’s common share issuance activity for the six months ended July 31, 2016 is summarized as follows: Shares Weighted-average Treasury stock balance at January 31, 2016 24,163,402 $ 44.59 Shares of treasury stock reissued (131,712 ) Treasury stock balance at July 31, 2016 24,031,690 $ 44.59 There were no common shares repurchased by the Company during the six months ended July 31, 2016 . The reissuance of shares from treasury stock is based on the weighted average purchase price of the shares.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jul. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value, Assets Measured on Recurring Basis	The following table summarizes the valuation of the Company's assets and liabilities that are measured at fair value on a recurring basis (in thousands): July 31, 2016 January 31, 2016 Fair value measurement category Fair value measurement category Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 ASSETS Foreign currency forward contracts $ 6,300 $ 3,412 LIABILITIES Foreign currency forward contracts $ 1,845 $ 2,274

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jul. 31, 2016
Segment Reporting Information
Schedule of Segment Reporting Information, by Segment	Financial information by geographic segment is as follows (in thousands): Three months ended July 31, Six months ended July 31, 2016 2015 2016 2015 Net sales to unaffiliated customers: Americas (1) $ 2,674,886 $ 2,745,429 $ 5,062,890 $ 5,084,689 Europe 3,678,853 3,834,964 7,254,211 7,382,933 Total $ 6,353,739 $ 6,580,393 $ 12,317,101 $ 12,467,622 Operating income: Americas (2) $ 41,241 $ 60,752 $ 72,516 $ 123,111 Europe (3) 35,927 49,443 60,867 72,840 Stock-based compensation expense (3,813 ) (3,960 ) (7,470 ) (7,778 ) Total $ 73,355 $ 106,235 $ 125,913 $ 188,173 Depreciation and amortization: Americas $ 4,905 $ 4,472 $ 9,795 $ 8,513 Europe 9,143 9,520 18,300 19,658 Total $ 14,048 $ 13,992 $ 28,095 $ 28,171 Capital expenditures: Americas $ 5,388 $ 4,222 $ 11,485 $ 8,086 Europe 5,384 3,530 10,850 6,910 Total $ 10,772 $ 7,752 $ 22,335 $ 14,996 As of: July 31, 2016 January 31, 2016 Identifiable assets: Americas $ 2,162,473 $ 2,078,443 Europe 4,040,985 4,279,845 Total $ 6,203,458 $ 6,358,288 Long-lived assets: Americas (1) $ 33,851 $ 29,402 Europe 38,287 36,626 Total $ 72,138 $ 66,028 Goodwill & acquisition-related intangible assets, net: Americas $ 34,455 $ 35,615 Europe 265,055 274,401 Total $ 299,510 $ 310,016 (1) Net sales to unaffiliated customers in the United States represented 91% of the total Americas' net sales to unaffiliated customers for the three months ended July 31, 2016 and 2015 , and 89% of the total Americas' net sales to unaffiliated customers for the six months ended July 31, 2016 and 2015 . Total long-lived assets in the United States represented 95% of the Americas' total long-lived assets at both July 31, 2016 and January 31, 2016 . (2) Operating income in the Americas includes a gain recorded in LCD settlements and other, net, of $2.6 million and $21.5 million , respectively, for the three months ended July 31, 2016 and 2015, and $3.1 million and $60.0 million , respectively, for the six months ended July 31, 2016 and 2015 (see further discussion in Note 1 – Business and Summary of Significant Accounting Policies ). (3) Operating income in Europe for the three and six months ended July 31, 2016 includes an increase of $1.5 million in the accrual for assessments and penalties for a VAT matter in the Company's subsidiary in Spain. Operating income in Europe for the three and six months ended July 31, 2015 includes a net decrease of $9.6 million in the accrual for assessments and penalties for various VAT matters in two European subsidiaries (see further discussion in Note 7 – Commitments & Contingencies ).

Business And Summary Of Signi21

Business And Summary Of Significant Accounting Policies (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 31, 2016	Jul. 31, 2015	Jul. 31, 2016	Jul. 31, 2015	Jan. 31, 2016
Accounting Policies [Abstract]
Accounts receivable sold	$ 479.6		$ 479.6		$ 554.2
Discount fees on sale of accounts receivable	$ 1.5	$ 1	$ 2.7	$ 1.9

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 31, 2016	Jul. 31, 2015	Jul. 31, 2016	Jul. 31, 2015
Earnings Per Share [Abstract]
Net income	$ 46,394	$ 76,412	$ 79,767	$ 127,689
Weighted average common shares - basic	35,207,000	36,506,000	35,167,000	36,661,000
Equity based awards	171,000	109,000	206,000	168,000
Weighted average common shares - diluted	35,378,000	36,615,000	35,373,000	36,829,000
Basic	$ 1.32	$ 2.09	$ 2.27	$ 3.48
Diluted	$ 1.31	$ 2.09	$ 2.26	$ 3.47
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	4,028	0	203,991	0

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jul. 31, 2016	Jul. 31, 2015	Jul. 31, 2016	Jul. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation expense		$ 3,813	$ 3,960	$ 7,470	$ 7,778
Number of Shares Authorized		4,000,000		4,000,000
Number of Shares Available for Grant		2,200,000		2,200,000
Maximum
Share-based Compensation Arrangement by Share-based Payment Award
Award Vesting Period				3 years
Minimum
Share-based Compensation Arrangement by Share-based Payment Award
Award Vesting Period				1 year
Restricted Stock Units (RSUs)
Stock-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares
Nonvested at January 31, 2016				496,329
Granted	[1]			232,075
Vested				(177,395)
Canceled				(6,898)
Nonvested at July 31, 2016		544,111		544,111
Performance-based Restricted Stock Units (RSUs)
Stock-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares
Granted				18,563
[1]	Includes 18,563 shares of performance-based restricted stock units, which assumes maximum achievement.

Shareholders' Equity Company's

Shareholders' Equity Company's Common Share Repurchase and Issuance Activity (Details) - $ / shares	6 Months Ended
	Jul. 31, 2016	Jan. 31, 2016
Increase (Decrease) in Treasury Stock [Roll Forward]
Treasury stock balance at January 31, 2016	24,163,402
Treasury Stock, Shares, Acquired	0
Stock Issued During Period, Shares, Treasury Stock Reissued	(131,712)
Treasury stock balance at July 31, 2016	24,031,690
Treasury Stock Held, Average Cost Per Share	$ 44.59	$ 44.59

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Jul. 31, 2016	Jan. 31, 2016	Sep. 21, 2012
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Life Insurance, Corporate or Bank Owned, Amount	$ 35,100	$ 30,200
Deferred Compensation Liability, Current and Noncurrent	35,200	30,500
Fair Value, Measurements, Recurring | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Foreign currency forward contracts - Assets	6,300	3,412
Foreign currency forward contracts - Liabilities	1,845	2,274
Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Debt Instrument, Face Amount			$ 350,000
Debt Instrument, Interest Rate, Stated Percentage			3.75%
Senior Notes | Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Debt Instrument, Fair Value Disclosure	$ 356,900	$ 359,600

Derivative Instruments (Details

Derivative Instruments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 31, 2016	Jul. 31, 2015	Jul. 31, 2016	Jul. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Net foreign currency exchange gain (loss)	$ 6.6	$ 5.9	$ (0.8)	$ (2.1)
Notional amount of derivative financial instruments outstanding	$ 500	$ 600	$ 500	$ 500
Average maturities of derivatives, days	32 days	33 days	31 days	35 days

Commitments and Contingencies27

Commitments and Contingencies (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jul. 31, 2016	Oct. 31, 2015	Jul. 31, 2015	Jul. 31, 2016	Jul. 31, 2015	Jan. 31, 2016
Loss Contingencies
Value added tax assessments	$ 1,049		$ (9,563)	$ 1,049	$ (9,563)
Europe
Loss Contingencies
Value added tax assessments	1,500		(9,563)	1,500	$ (9,563)
Europe | Spain
Loss Contingencies
Loss Contingency Accrual	7,400			7,400
Loss Contingency Accrual, Payments		$ 12,300
Europe | Spain | Value added tax assessments
Loss Contingencies
Loss Contingency Accrual, Period Increase (Decrease)	1,500		(16,369)
Europe | Spain | Interest Expense
Loss Contingencies
Loss Contingency Accrual, Period Increase (Decrease)	1,100		(9,000)
Europe | Spain | Accrued Liabilities
Loss Contingencies
Loss Contingency Accrual, Period Increase (Decrease)	2,600		(25,400)
Europe | European Subsidiary
Loss Contingencies
Value added tax assessments			$ 6,806
Americas | Brazil
Loss Contingencies
Loss Contingency, Estimate of Possible Loss	21,900			21,900
Synthetic Lease
Loss Contingencies
Residual Value Guarantee, Aggregate Amount	133,800			133,800
Operating Leases, Future Minimum Payments Due	2,900			2,900
Financial Guarantee
Loss Contingencies
Guarantor Obligations, Maximum Exposure, Undiscounted	$ 5,000			$ 5,000		$ 4,600

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jul. 31, 2016	Jul. 31, 2015	Jul. 31, 2016	Jul. 31, 2015	Jan. 31, 2016
Segment Reporting Information
Net sales to unaffiliated customers:		$ 6,353,739	$ 6,580,393	$ 12,317,101	$ 12,467,622
Operating income:		73,355	106,235	125,913	188,173
Stock-based compensation expense		(3,813)	(3,960)	(7,470)	(7,778)
Depreciation and amortization:		14,048	13,992	28,095	28,171
Capital expenditures:		10,772	7,752	22,335	14,996
Identifiable assets:		6,203,458		6,203,458		$ 6,358,288
Long-lived assets:		72,138		72,138		66,028
Goodwill & acquisition-related intangible assets, net:		299,510		299,510		310,016
Gain (Loss) Related to Litigation Settlement		1,717	21,527	2,160	60,038
Value added tax assessments		1,049	(9,563)	1,049	(9,563)
Americas
Segment Reporting Information
Net sales to unaffiliated customers:	[1]	2,674,886	2,745,429	5,062,890	5,084,689
Operating income:	[2]	41,241	60,752	72,516	123,111
Depreciation and amortization:		$ 4,905	$ 4,472	$ 9,795	$ 8,513
Sales to unaffiliated customers, as percentage of total sales		91.00%	91.00%	89.00%	89.00%
Capital expenditures:		$ 5,388	$ 4,222	$ 11,485	$ 8,086
Identifiable assets:		2,162,473		2,162,473		2,078,443
Long-lived assets:	[1]	33,851		33,851		29,402
Goodwill & acquisition-related intangible assets, net:		$ 34,455		$ 34,455		$ 35,615
Long-lived assets, as percentage of total assets		95.00%		95.00%		95.00%
Gain (Loss) Related to Litigation Settlement		$ 2,600	21,527	$ 3,100	60,038
Europe
Segment Reporting Information
Net sales to unaffiliated customers:		3,678,853	3,834,964	7,254,211	7,382,933
Operating income:	[3]	35,927	49,443	60,867	72,840
Depreciation and amortization:		9,143	9,520	18,300	19,658
Capital expenditures:		5,384	3,530	10,850	6,910
Identifiable assets:		4,040,985		4,040,985		$ 4,279,845
Long-lived assets:		38,287		38,287		36,626
Goodwill & acquisition-related intangible assets, net:		265,055		265,055		$ 274,401
Value added tax assessments		$ 1,500	$ (9,563)	$ 1,500	$ (9,563)
[1]	Net sales to unaffiliated customers in the United States represented 91% of the total Americas' net sales to unaffiliated customers for the three months ended July 31, 2016 and 2015, and 89% of the total Americas' net sales to unaffiliated customers for the six months ended July 31, 2016 and 2015. Total long-lived assets in the United States represented 95% of the Americas' total long-lived assets at both July 31, 2016 and January 31, 2016.
[2]	Operating income in the Americas includes a gain recorded in LCD settlements and other, net, of $2.6 million and $21.5 million, respectively, for the three months ended July 31, 2016 and 2015, and $3.1 million and $60.0 million, respectively, for the six months ended July 31, 2016 and 2015 (see further discussion in Note 1 – Business and Summary of Significant Accounting Policies).
[3]	Operating income in Europe for the three and six months ended July 31, 2016 includes an increase of $1.5 million in the accrual for assessments and penalties for a VAT matter in the Company's subsidiary in Spain. Operating income in Europe for the three and six months ended July 31, 2015 includes a net decrease of $9.6 million in the accrual for assessments and penalties for various VAT matters in two European subsidiaries (see further discussion in Note 7 – Commitments & Contingencies).