ScanSource (SCSC) 10-Q 8 Feb 22 2022 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Dec. 31, 2021	Feb. 08, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2021
Document Transition Report	false
Entity File Number	000-26926
Entity Registrant Name	ScanSource, Inc.
Entity Incorporation, State or Country Code	SC
Entity Tax Identification Number	57-0965380
Entity Address, Address Line One	6 Logue Court
Entity Address, City or Town	Greenville
Entity Address, State or Province	SC
Entity Address, Postal Zip Code	29615
City Area Code	864
Local Phone Number	288-2432
Title of 12(b) Security	Common stock, no par value
Trading Symbol	SCSC
Security Exchange Name	NASDAQ
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
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		25,604,030
Entity Central Index Key	0000918965
Current Fiscal Year End Date	--06-30
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Dec. 31, 2021	Jun. 30, 2021
Current assets:
Cash and cash equivalents	$ 34,123	$ 62,718
Accounts receivable, less allowance of $17,393 at December 31, 2021 and $19,341 at June 30, 2021	613,186	568,984
Inventories	562,397	470,081
Prepaid expenses and other current assets	124,633	117,860
Total current assets	1,334,339	1,219,643
Property and equipment, net	39,239	42,836
Goodwill	216,755	218,877
Identifiable intangible assets, net	95,045	104,860
Deferred income taxes	21,668	21,853
Other non-current assets	63,824	63,615
Total assets	1,770,870	1,671,684
Current liabilities:
Accounts payable	653,190	634,805
Accrued expenses and other current liabilities	81,570	87,790
Income taxes payable	2,283	2,501
Current portion of long-term debt	9,723	7,843
Total current liabilities	746,766	732,939
Deferred income taxes	3,862	3,954
Long-term debt, net of current portion	129,358	135,331
Borrowings under revolving credit facility	57,785	0
Other long-term liabilities	64,574	68,269
Total liabilities	1,002,345	940,493
Commitments and contingencies
Shareholders’ equity:
Preferred stock, no par value; 3,000,000 shares authorized, none issued	0	0
Common stock, no par value; 45,000,000 shares authorized, 25,657,545 and 25,499,465 shares issued and outstanding at December 31, 2021 and June 30, 2021, respectively	75,583	71,253
Retained earnings	803,396	758,071
Accumulated other comprehensive loss	(110,454)	(98,133)
Total shareholders’ equity	768,525	731,191
Total liabilities and shareholders’ equity	$ 1,770,870	$ 1,671,684

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2021	Jun. 30, 2021
Current assets:
Allowance for accounts receivable	$ 17,393	$ 19,341
Shareholders’ equity:
Preferred stock, shares authorized (in shares)	3,000,000	3,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, shares authorized (in shares)	45,000,000	45,000,000
Common stock, share issued (in shares)	25,657,545	25,499,465
Common stock, shares outstanding (in shares)	25,657,545	25,499,465

Condensed Consolidated Income S

Condensed Consolidated Income Statements (Unaudited) - USD ($) shares in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Net sales	$ 864,351,000	$ 810,897,000	$ 1,721,662,000	$ 1,568,238,000
Cost of goods sold	756,426,000	724,854,000	1,512,437,000	1,401,415,000
Gross profit	107,925,000	86,043,000	209,225,000	166,823,000
Selling, general and administrative expenses	69,433,000	60,470,000	133,016,000	122,580,000
Depreciation expense	2,547,000	3,097,000	5,427,000	6,494,000
Intangible amortization expense	4,447,000	4,862,000	8,956,000	9,716,000
Restructuring and other charges	0	484,000	0	8,753,000
Change in fair value of contingent consideration	0	0	0	516,000
Operating income	31,498,000	17,130,000	61,826,000	18,764,000
Interest expense	1,493,000	1,796,000	3,153,000	3,709,000
Interest income	(947,000)	(531,000)	(1,973,000)	(1,011,000)
Other expense, net	543,000	121,000	807,000	484,000
Income before income taxes	30,409,000	15,744,000	59,839,000	15,582,000
Provision for income taxes	7,257,000	4,683,000	14,614,000	4,636,000
Net income from continuing operations	23,152,000	11,061,000	45,225,000	10,946,000
Net income (loss) from discontinued operations	100,000	(25,255,000)	100,000	(36,959,000)
Net income (loss)	$ 23,252,000	$ (14,194,000)	$ 45,325,000	$ (26,013,000)
Per share data:
Net income from continuing operations per common share, basic (in dollars per share)	$ 0.91	$ 0.44	$ 1.77	$ 0.43
Net loss from discontinued operations per common share, basic (in dollars per share)	0	(1)	0	(1.46)
Net income (loss) per common share, basic (in dollars per share)	$ 0.91	$ (0.56)	$ 1.77	$ (1.03)
Weighted-average shares outstanding, basic (in shares)	25,585	25,395	25,549	25,378
Net income from continuing operations per common share, diluted (in dollars per share)	$ 0.89	$ 0.43	$ 1.75	$ 0.43
Net loss from discontinued operations per common share, diluted (in dollars per share)	0	(0.99)	0	(1.45)
Net income (loss) per common share, diluted (in dollars per share)	$ 0.90	$ (0.56)	$ 1.76	$ (1.02)
Weighted-average shares outstanding, diluted (in shares)	25,895	25,475	25,806	25,458

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Net income (loss)	$ 23,252	$ (14,194)	$ 45,325	$ (26,013)
Unrealized gain on hedged transaction, net of tax	1,172	519	1,585	628
Foreign currency translation adjustment	(2,759)	11,974	(13,906)	15,484
Realized foreign currency translation loss from discontinued operations	0	11,635	0	11,635
Comprehensive income	$ 21,665	$ 9,934	$ 33,004	$ 1,734

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Retained Earnings	Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Jun. 30, 2020		25,361,298
Beginning balance at Jun. 30, 2020	$ 678,246	$ 63,765	$ 747,276	$ (132,795)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(11,819)		(11,819)
Unrealized gain on hedged transaction, net of tax	109			109
Foreign currency translation adjustment	3,511			3,511
Share-based compensation	1,180	$ 1,180
Ending balance (in shares) at Sep. 30, 2020		25,361,298
Ending balance at Sep. 30, 2020	671,227	$ 64,945	735,457	(129,175)
Beginning balance (in shares) at Jun. 30, 2020		25,361,298
Beginning balance at Jun. 30, 2020	678,246	$ 63,765	747,276	(132,795)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(26,013)
Unrealized gain on hedged transaction, net of tax	628
Foreign currency translation adjustment	15,484
Realized foreign currency translation loss from discontinued operations	11,635
Ending balance (in shares) at Dec. 31, 2020		25,451,640
Ending balance at Dec. 31, 2020	682,139	$ 65,924	721,263	(105,048)
Beginning balance (in shares) at Sep. 30, 2020		25,361,298
Beginning balance at Sep. 30, 2020	671,227	$ 64,945	735,457	(129,175)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(14,194)		(14,194)
Unrealized gain on hedged transaction, net of tax	519			519
Foreign currency translation adjustment	11,974			11,974
Realized foreign currency translation loss from discontinued operations	11,635			11,635
Exercise of stock options and shares issued under share-based compensation plans, net of shares withheld for employee taxes (in shares)		90,342
Exercise of stock options and shares issued under share-based compensation plans, net of shares withheld for employee taxes	(1,036)	$ (1,036)
Share-based compensation	2,015	$ 2,015
Ending balance (in shares) at Dec. 31, 2020		25,451,640
Ending balance at Dec. 31, 2020	682,139	$ 65,924	721,263	(105,048)
Beginning balance (in shares) at Jun. 30, 2021		25,499,465
Beginning balance at Jun. 30, 2021	731,191	$ 71,253	758,071	(98,133)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	22,073		22,073
Unrealized gain on hedged transaction, net of tax	413			413
Foreign currency translation adjustment	(11,147)			(11,147)
Exercise of stock options and shares issued under share-based compensation plans, net of shares withheld for employee taxes (in shares)		29,086
Exercise of stock options and shares issued under share-based compensation plans, net of shares withheld for employee taxes	994	$ 994
Share-based compensation	2,570	$ 2,570
Ending balance (in shares) at Sep. 30, 2021		25,528,551
Ending balance at Sep. 30, 2021	746,094	$ 74,817	780,144	(108,867)
Beginning balance (in shares) at Jun. 30, 2021		25,499,465
Beginning balance at Jun. 30, 2021	731,191	$ 71,253	758,071	(98,133)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	45,325
Unrealized gain on hedged transaction, net of tax	1,585
Foreign currency translation adjustment	(13,906)
Realized foreign currency translation loss from discontinued operations	0
Ending balance (in shares) at Dec. 31, 2021		25,657,545
Ending balance at Dec. 31, 2021	768,525	$ 75,583	803,396	(110,454)
Beginning balance (in shares) at Sep. 30, 2021		25,528,551
Beginning balance at Sep. 30, 2021	746,094	$ 74,817	780,144	(108,867)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	23,252		23,252
Unrealized gain on hedged transaction, net of tax	1,172			1,172
Foreign currency translation adjustment	(2,759)			(2,759)
Realized foreign currency translation loss from discontinued operations	0
Exercise of stock options and shares issued under share-based compensation plans, net of shares withheld for employee taxes (in shares)		134,897
Exercise of stock options and shares issued under share-based compensation plans, net of shares withheld for employee taxes	(2,513)	$ (2,513)
Common stock repurchased (in shares)		(5,903)
Common stock repurchased	(183)	$ (183)
Share-based compensation	3,462	$ 3,462
Ending balance (in shares) at Dec. 31, 2021		25,657,545
Ending balance at Dec. 31, 2021	$ 768,525	$ 75,583	$ 803,396	$ (110,454)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities:
Net income (loss)	$ 45,325	$ (26,013)
Net income (loss) from discontinued operations	100	(36,959)
Net income from continuing operations	45,225	10,946
Adjustments to reconcile net income to net cash (used in) provided by operating activities of continuing operations:
Depreciation and amortization	14,879	17,059
Amortization of debt issue costs	209	209
Provision for doubtful accounts	921	(180)
Share-based compensation	6,032	3,174
Deferred income taxes	(109)	(694)
Change in fair value of contingent consideration	0	516
Contingent consideration payments excess	0	(5,457)
Finance lease interest	26	70
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	(54,370)	(86,683)
Inventories	(95,531)	35,124
Prepaid expenses and other assets	(11,236)	2,256
Other non-current assets	(1,561)	1,328
Accounts payable	25,444	132,074
Accrued expenses and other liabilities	(5,130)	11,150
Income taxes payable	(177)	(5,218)
Net cash (used in) provided by operating activities of continuing operations	(75,378)	115,674
Cash flows from investing activities of continuing operations:
Capital expenditures	(2,645)	(1,454)
Proceeds from the sale of discontinued operations	3,125	34,356
Net cash provided by investing activities of continuing operations	480	32,902
Cash flows from financing activities of continuing operations:
Borrowings on revolving credit, net of expenses	1,115,161	959,848
Repayments on revolving credit, net of expenses	(1,057,376)	(1,022,561)
Repayments on long-term debt, net	(4,093)	(4,089)
Repayments of finance lease obligations	(624)	(652)
Contingent consideration payments	0	(41,393)
Exercise of stock options	1,114	0
Taxes paid on settlement of equity awards	(2,634)	(1,036)
Common stock repurchased	(183)	0
Net cash provided by (used in) financing activities of continuing operations	51,365	(109,883)
Cash flows from discontinued operations:
Net cash flows provided by operating activities of discontinued operations	0	21,704
Net cash flows used in by investing activities of discontinued operations	0	(58)
Net cash flows used in financing activities of discontinued operations	0	(29,494)
Net cash flows used in discontinued operations	0	(7,848)
Effect of exchange rate changes on cash and cash equivalents	(5,062)	1,887
(Decrease) increase in cash and cash equivalents	(28,595)	32,732
Cash and cash equivalents at beginning of period	62,718	34,455
Cash and cash equivalents at end of period	34,123	67,187
Cash and cash equivalents of discontinued operations	0	0
Cash and cash equivalents of continuing operations	$ 34,123	$ 67,187

Business and Summary of Signifi

Business and Summary of Significant Accounting Policies	6 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Business and Summary of Significant Accounting Policies	Business and Summary of Significant Accounting Policies Business Description ScanSource, Inc. (together with its subsidiaries referred to as “the Company” or “ScanSource”) is a leading hybrid distributor connecting devices to the cloud and accelerating growth for partners across hardware, software, connectivity and cloud. The Company brings technology solutions and services from the world’s leading suppliers of mobility and barcode, point-of-sale (POS), payments, physical security, unified communications and collaboration, telecom and cloud services to market. The Company operates in the United States, Canada, Brazil and the UK. During the quarter ended December 31, 2020, the Company completed the divestitures of its products distribution business in the UK, Europe and Latin America, outside of Brazil. The Company's two operating segments, Specialty Technology Solutions and Modern Communications & Cloud, are based on product and customer type. Segment Changes During the quarter ended September 30, 2021, the Company made changes to the segments to align technologies with its hybrid distribution strategy across hardware, software, connectivity and cloud. The Company also renamed its operating segments to Specialty Technology Solutions and Modern Communications & Cloud. The Company moved some North American business with communications and collaboration solutions to the Modern Communications & Cloud segment. With this change, all of the Company's communications and collaboration business is in the Modern Communications & Cloud segment. This technology alignment better represents the operating and financial performance information provided to the Company's Chief Operating Decision Maker. The Company has reclassified certain prior year amounts in the segment results to conform with current year presentation. These reclassifications had no effect on the condensed consolidated financial results. See Note 10 - Segment Information for descriptions of the Company's segments. COVID-19 The spread of COVID-19 has resulted in the implementation of numerous measures to contain the virus worldwide, such as travel bans and restrictions, quarantines, shelter-in-place orders, business shutdowns, and limitations of in-person gatherings. The Company moved quickly to transition its employees, where possible, to a fully remote working environment. The Company also deployed teams to monitor the evolving situation and recommend risk mitigation actions. All of the Company's distribution facilities have remained open and operational throughout the pandemic. The pandemic and containment measures have had an impact on the Company's suppliers' businesses and sales partners' businesses. The negative impacts to net sales from the pandemic, including declines in customer demand and supply chain disruptions, began to recover throughout fiscal year 2021. While the Company is unable to predict the ultimate impact that COVID-19 will have on its business, certain technologies have benefited from the widespread adoption of work-from-home, as well as the accelerated shift to digitize and automate processes. The Company continues to incur higher employee related healthcare and prevention costs as a result of the pandemic. For further discussion on the potential future impacts of COVID-19, see the Risk Factors presented in Part I, Item 1A in the Company's form 10-K for fiscal year 2021. Basis of Presentation The accompanying unaudited condensed consolidated financial statements of the Company have been prepared by the Company’s management in accordance with United States generally accepted accounting principles ("U.S. GAAP") for interim financial information and applicable rules and regulations of the Securities Exchange Act of 1934. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for annual financial statements. The unaudited condensed consolidated financial statements included herein contain all adjustments (consisting of normal recurring and non-recurring adjustments) that are, in the opinion of management, necessary to present fairly the financial position at December 31, 2021 and June 30, 2021, the results of operations for the quarters and six months ended December 31, 2021 and 2020, the statements of comprehensive income for the quarters and six months ended December 31, 2021 and 2020, the statements of shareholders' equity for the quarters and six months ended December 31, 2021 and 2020 and the statements of cash flows for the six months ended December 31, 2021 and 2020. The results of operations for the quarters and six months ended December 31, 2021 and 2020 are not necessarily indicative of the results to be expected for a full year. These financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2021. Unless otherwise indicated, disclosures provided in the Notes pertain to continuing operations only. Summary of Significant Accounting Policies There have been no material changes to the Company’s significant accounting policies for the six months ended December 31, 2021 from the policies described in the notes to the Company’s consolidated financial statements included in the Annual Report on Form 10-K for the fiscal year ended June 30, 2021. For a discussion of the Company’s significant accounting policies, please see the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2021. Cash and Cash Equivalents The Company considers all highly-liquid investments with original maturities of three months or less, when purchased, to be cash equivalents. The Company maintains zero-balance disbursement accounts at various financial institutions at which the Company does not maintain significant depository relationships. Due to the terms of the agreements governing these accounts, the Company generally does not have the right to offset outstanding checks written from these accounts against cash on hand, and the respective institutions are not legally obligated to honor the checks until sufficient funds are transferred to fund the checks. As a result, checks released but not yet cleared from these accounts in the amounts of $18.5 million and $14.3 million are included in accounts payable on the condensed consolidated balance sheets at December 31, 2021 and June 30, 2021, respectively. Long-lived Assets The Company presents depreciation expense and intangible amortization expense on the Condensed Consolidated Income Statements. The Company's depreciation expense related to selling, general and administrative costs totaled $2.5 million and $5.4 million for the quarter and six months ended December 31, 2021 and $3.1 million and $6.5 million for the quarter and six months ended December 31, 2020. Depreciation expense reported as part of cost of goods sold on the Condensed Consolidated Income Statements totaled $0.2 million and $0.5 million for the quarter and six months ended December 31, 2021 and $0.4 million and $0.9 million for the quarter and six months ended December 31, 2020. The Company's intangible amortization expense reported on the Condensed Consolidated Income Statements relates to selling, general and administrative costs, not the cost of selling goods. Intangible amortization expense totaled $4.4 million and $9.0 million for the quarter and six months ended December 31, 2021 and $4.9 million and $9.7 million for the quarter and six months ended December 31, 2020. Recent Accounting Pronouncements The Company has reviewed newly issued accounting pronouncements and concluded that they are either not applicable to its business or that no material effect is expected on its consolidated financial statements as a result of future adoption.

Trade Accounts and Notes Receiv

Trade Accounts and Notes Receivable, Net	6 Months Ended
	Dec. 31, 2021
Receivables [Abstract]
Trade Accounts and Notes Receivable, Net	Trade Accounts and Notes Receivable, Net The Company maintains an allowance for doubtful accounts receivable for estimated future expected credit losses resulting from customers’ failure to make payments on accounts receivable due to the Company. The Company has notes receivable with certain customers, which are included in “Accounts receivable, less allowance” in the Condensed Consolidated Balance Sheets. Management determines the estimate of the allowance for doubtful accounts receivable by considering a number of factors, including: (i) historical experience, (ii) aging of the accounts receivable, (iii) specific information obtained by the Company on the financial condition and the current creditworthiness of its customers, (iv) the current economic and country-specific environment and (v) reasonable and supportable forecasts about collectability. Expected credit losses are estimated on a pool basis when similar risk characteristics exist using an age-based reserve model. Receivables that do not share risk characteristics are evaluated on an individual basis. Estimates of expected credit losses on trade receivables over the contractual life are recorded at inception. The changes in the allowance for doubtful accounts for the six months ended December 31, 2021 are set forth in the table below. June 30, 2021 Amounts Charged to Expense Write-offs Other (1) December 31, 2021 (in thousands) Trade accounts and current notes receivable allowance $ 19,341 $ 921 $ (1,340) $ (1,529) $ 17,393

Revenue Recognition

Revenue Recognition	6 Months Ended
	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition The Company provides technology solutions and services from the world's leading suppliers of mobility and barcode, POS, payments, physical security, unified communications and collaboration, and telecom and cloud services. This includes hardware, related accessories and device configuration as well as software licenses, professional services and hardware support programs. In determining the appropriate amount of revenue to recognize, the Company applies the following five-step model: (i) identify contracts with customers; (ii) identify performance obligations in the contracts; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations per the contracts; and (v) recognize revenue when (or as) the Company satisfies a performance obligation. The Company recognizes revenue as control of products and services are transferred to customers, which is generally at the point of shipment. The Company delivers products to customers in several ways, including: (i) shipment from the Company's warehouse, (ii) drop-shipment directly from the supplier, or (iii) electronic delivery for non-physical products. Principal versus Agent Considerations The Company is the principal for sales of all hardware, certain software and services, including self-branded warranty programs. The Company considers itself the principal in these transactions as it has control of the product or service before it is transferred to the customer. When the Company provides self-branded warranty programs, it engages a third party, generally the original equipment manufacturer, to cover the fulfillment of any obligations arising from these contracts. These revenues and associated third-party costs are amortized over the life of the contract on a straight-line basis. The Company recognizes the previously described revenue and cost of goods sold on a gross basis. The Company is the agent for third-party service contracts, including product warranties and supplier-hosted software. These service contracts are sold separately from the products, and the Company often serves as the agent for the contract on behalf of the original equipment manufacturer. The Company's responsibility is to arrange for the provision of the specified service by the original equipment manufacturer, and the Company does not control the specified service before it is transferred to the customer. Because the Company acts as an agent, revenue is recognized net of cost at the time of sale. The Intelisys business operates under an agency model. Variable Considerations For certain transactions, products are sold with a right of return and may also provide other rebates or incentives, which are accounted for as variable consideration. The Company estimates returns allowance based on historical experience and reduces revenue accordingly. The Company estimates the amount of variable consideration for rebates and incentives by using the expected value or the most likely amount to be given to the customer and reduces the revenue by those estimated amounts. These estimates are reviewed and updated as necessary at the end of each reporting period. Contract Balances The Company records contract assets and liabilities for payments received from customers in advance of services performed. These assets and liabilities are the result of the sales of the Company's self-branded warranty programs and other transactions where control has not yet passed to the customer. These amounts are immaterial to the consolidated financial statements for the periods presented. Disaggregation of Revenue The following tables represent the Company's disaggregation of revenue: Quarter ended December 31, 2021 Specialty Technology Solutions Modern Communications & Cloud Total (in thousands) Revenue by product/service: Hardware, software and cloud (excluding Intelisys) $ 496,920 $ 348,893 $ 845,813 Intelisys connectivity and cloud — 18,538 18,538 $ 496,920 $ 367,431 $ 864,351 Six months ended December 31, 2021 Specialty Technology Solutions Modern Communications & Cloud Total (in thousands) Revenue by product/service: Hardware, software and cloud (excluding Intelisys) $ 998,630 $ 687,142 $ 1,685,772 Intelisys connectivity and cloud — 35,890 35,890 $ 998,630 $ 723,032 $ 1,721,662 Quarter ended December 31, 2020 Specialty Technology Solutions Modern Communications & Cloud Total (in thousands) Revenue by product/service: Hardware, software and cloud (excluding Intelisys) $ 455,248 $ 339,404 $ 794,652 Intelisys connectivity and cloud — 16,245 16,245 $ 455,248 $ 355,649 $ 810,897 Six months ended December 31, 2020 Specialty Technology Solutions Modern Communications & Cloud Total (in thousands) Revenue by product/service: Hardware, software and cloud (excluding Intelisys) $ 864,026 $ 672,709 $ 1,536,735 Intelisys connectivity and cloud — 31,503 31,503 $ 864,026 $ 704,212 $ 1,568,238

Earnings Per Share

Earnings Per Share	6 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic earnings per share are computed by dividing net income by the weighted-average number of common shares outstanding. Diluted earnings per share are computed by dividing net income by the weighted-average number of common and potential common shares outstanding. Quarter ended Six months ended December 31, December 31, 2021 2020 2021 2020 (in thousands, except per share data) Numerator: Net income from continuing operations $ 23,152 $ 11,061 $ 45,225 $ 10,946 Net income (loss) from discontinued operations 100 (25,255) 100 (36,959) Net income (loss) $ 23,252 $ (14,194) $ 45,325 $ (26,013) Denominator: Weighted-average shares, basic 25,585 25,395 25,549 25,378 Dilutive effect of share-based payments 310 80 257 80 Weighted-average shares, diluted 25,895 25,475 25,806 25,458 Net income from continuing operations per common share, basic $ 0.91 $ 0.44 $ 1.77 $ 0.43 Net loss from discontinued operations per common share, basic — (1.00) — (1.46) Net income (loss) per common share, basic $ 0.91 $ (0.56) $ 1.77 $ (1.03) Net income from continuing operations per common share, diluted $ 0.89 $ 0.43 $ 1.75 $ 0.43 Net loss from discontinued operations per common share, diluted — (0.99) — (1.45) Net income (loss) per common share, diluted $ 0.90 $ (0.56) $ 1.76 $ (1.02) For the quarters and six months ended December 31, 2021 weighted-average shares outstanding excluded from the computation of diluted earnings per share because their effect would be anti-dilutive were 359,366 and 1,149,352, respectively. For the quarters and six months ended December 31, 2020, weighted-average shares outstanding excluded from the computation of diluted earnings per share because their effect would be anti-dilutive were 1,400,999 and 1,191,985, respectively.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	6 Months Ended
	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss Accumulated other comprehensive loss consists of the following: December 31, 2021 June 30, 2021 (in thousands) Foreign currency translation adjustment $ (107,467) $ (93,561) Unrealized loss on hedged transaction, net of tax (2,987) (4,572) Accumulated other comprehensive loss $ (110,454) $ (98,133) The tax effect of amounts in comprehensive loss (income) reflect a tax expense or (benefit) as follows: Quarter ended December 31, Six months ended December 31, 2021 2020 2021 2020 (in thousands) Tax expense (benefit) $ 517 $ (94) $ 800 $ 260

Goodwill and Other Identifiable

Goodwill and Other Identifiable Intangible Assets	6 Months Ended
	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Identifiable Intangible Assets	Goodwill and Other Identifiable Intangible Assets The changes in the carrying amount of goodwill for the six months ended December 31, 2021, by reporting segment, are set forth in the table below. Specialty Technology Solutions Modern Communications & Cloud Total (in thousands) Balance at June 30, 2021 $ 16,370 $ 202,507 $ 218,877 Foreign currency translation adjustment — (2,122) (2,122) Balance at December 31, 2021 $ 16,370 $ 200,385 $ 216,755 The following table shows changes in the amount recognized for net identifiable intangible assets for the six months ended December 31, 2021. Net Identifiable Intangible Assets (in thousands) Balance at June 30, 2021 $ 104,860 Reductions — Amortization expense (8,956) Foreign currency translation adjustment (859) Balance at December 31, 2021 $ 95,045

Short-Term Borrowings and Long-

Short-Term Borrowings and Long-Term Debt	6 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Short-Term Borrowings and Long-Term Debt	Short-Term Borrowings and Long-Term Debt The following table presents the Company’s debt at December 31, 2021 and June 30, 2021. December 31, 2021 June 30, 2021 (in thousands) Current portion of long-term debt $ 9,723 $ 7,843 Mississippi revenue bond, net of current portion 3,733 4,081 Senior secured term loan facility, net of current portion 125,625 131,250 Borrowings under revolving credit facility 57,785 — Total debt $ 196,866 $ 143,174 Credit Facility The Company has a multi-currency senior secured credit facility with JPMorgan Chase Bank N.A., as administrative agent, and a syndicate of banks (as amended, the “Amended Credit Agreement”). On April 30, 2019, the Company amended this credit facility to expand the borrowing capacity and extend its maturity to April 30, 2024. The Amended Credit Agreement includes (i) a five-year $350 million multi-currency senior secured revolving credit facility and (ii) a five-year $150 million senior secured term loan facility. Pursuant to an “accordion feature,” the Company may increase its borrowings up to an additional $250 million, subject to obtaining additional credit commitments from the lenders participating in the increase. The Amended Credit Agreement allows for the issuance of up to $50 million for letters of credit, subject to obtaining additional credit commitments from the lenders participating in the increase. Borrowings under the Amended Credit Agreement are guaranteed by substantially all of the domestic assets of the Company and a pledge of up to 65% of capital stock or other equity interest in certain foreign subsidiaries determined to be either material or a subsidiary borrower as defined in the Amended Credit Agreement. Under the terms of the revolving credit facility, the payment of cash dividends is restricted. The Company incurred debt issuance costs of $1.1 million in connection with the amendments to the Amended Credit Agreement. These costs were capitalized to other non-current assets on the Condensed Consolidated Balance Sheets and added to the unamortized debt issuance costs from the previous credit facility. At the Company's option, U.S. dollar loans under the Amended Credit Agreement, other than swingline loans, bear interest at a rate equal to a spread over LIBOR or the alternate base rate depending upon the Company's net leverage ratio, calculated as total debt less up to $15 million of unrestricted domestic cash ("Credit Facility Net Debt") to trailing four-quarter adjusted earnings before interest expense, taxes, depreciation and amortization ("Credit Facility EBITDA") (the "Leverage Ratio"). This spread ranges from 1.00% to 1.75% for LIBOR-based loans and 0.00% to 0.75% for alternate base rate loans. Additionally, the Company is charged commitment fees ranging from 0.15% to 0.30%, depending upon the Leverage Ratio, on non-utilized borrowing availability, excluding swingline loans. The Amended Credit Agreement provides for the substitution of a new interest rate benchmark upon the transition from LIBOR for U.S. dollar loans, subject to agreement between the Company and the administrative agent. On December 23, 2021, the Company amended its credit facility to replace LIBOR as the benchmark rate for non-U.S. dollar loans, among other things. During the six months ended December 31, 2021, the Company's borrowings under the credit facility were U.S. dollar loans. The spread in effect as of December 31, 2021 was 1.25% for LIBOR-based loans and 0.25% for alternate base rate loans. The commitment fee rate in effect at December 31, 2021 was 0.20%. The Amended Credit Agreement includes customary representations, warranties, and affirmative and negative covenants, including financial covenants. Specifically, the Company’s Leverage Ratio must be less than or equal to 3.50 to 1.00 at all times. In addition, the Company’s Interest Coverage Ratio (as such term is defined in the Amended Credit Agreement) must be at least 3.00 to 1.00 at the end of each fiscal quarter. In the event of a default, customary remedies are available to the lenders, including acceleration and increased interest rates. The Company was in compliance with all covenants under the credit facility at December 31, 2021. The average daily outstanding balance on the revolving credit facility, excluding the term loan facility, during the six month period ended December 31, 2021 was $57.1 million. Including borrowings for both continuing and discontinued operations, the average daily outstanding balance on the revolving credit facility, excluding the term loan facility, during the six months ended December 31, 2020 was $70.4 million. There was $292.2 million and $350.0 million available for additional borrowings as of December 31, 2021 and June 30, 2021, respectively. There were no letters of credit issued under the multi-currency revolving credit facility at December 31, 2021 or June 30, 2021. Mississippi Revenue Bond On August 1, 2007, the Company entered into an agreement with the State of Mississippi to provide financing for the acquisition and installation of certain equipment to be utilized at the Company’s Southaven, Mississippi warehouse, through the issuance of an industrial development revenue bond. The bond matures on September 1, 2032 and accrues interest at the 30-day LIBOR rate plus a spread of 0.85%. The terms of the bond allow for payment of interest only for the first 10 years of the agreement, and then, starting on September 1, 2018 through 2032, principal and interest payments are due until the maturity date or the redemption of the bond. The agreement also provides the bondholder with a put option, exercisable only within 180 days of each fifth anniversary of the agreement, requiring the Company to pay back the bonds at 100% of the principal amount outstanding. At December 31, 2021, the Company was in compliance with all covenants under this bond. The interest rates at December 31, 2021 and June 30, 2021 were 0.95% and 0.94%, respectively. Debt Issuance Costs At December 31, 2021, net debt issuance costs associated with the credit facility and bond totaled $1.0 million and are being amortized through the maturity date of each respective debt instrument.

Derivatives and Hedging Activit

Derivatives and Hedging Activities	6 Months Ended
	Dec. 31, 2021
General Discussion of Derivative Instruments and Hedging Activities [Abstract]
Derivatives and Hedging Activities	Derivatives and Hedging Activities The Company's results of operations could be materially impacted by significant changes in foreign currency exchange rates and interest rates. In an effort to manage the exposure to these risks, the Company periodically enters into various derivative instruments. The Company's accounting policies for these instruments are based on whether the instruments are designated as hedge or non-hedge instruments in accordance with U.S. GAAP. The Company records all derivatives on the consolidated balance sheet at fair value. Derivatives that are not designated as hedging instruments or the ineffective portions of cash flow hedges are adjusted to fair value through earnings in other income and expense. Foreign Currency Derivatives – The Company conducts a portion of its business internationally in a variety of foreign currencies and is exposed to market risk for changes in foreign currency exchange rates. The Company attempts to hedge transaction exposures with natural offsets to the fullest extent possible and once these opportunities have been exhausted the Company uses currency options and forward contracts or other hedging instruments with third parties. These contracts will periodically hedge the exchange of various currencies, including the U.S. dollar, Brazilian real, euro, British pound and Canadian dollar. The Company had contracts outstanding for purposes of managing cash flows with notional amounts of $30.6 million and $27.9 million for the exchange of foreign currencies at December 31, 2021 and June 30, 2021, respectively. To date, the Company has chosen not to designate these derivatives as hedging instruments, and accordingly, these instruments are adjusted to fair value through earnings in other income and expense. Summarized financial information related to these derivative contracts and changes in the underlying value of the foreign currency exposures included in the Condensed Consolidated Income Statements for the quarters and six months ended December 31, 2021 and 2020 are as follows: Quarter ended Six months ended December 31, December 31, 2021 2020 2021 2020 (in thousands) Net foreign exchange derivative contract (gains) losses $ (523) $ 1,818 $ (2,175) $ 1,913 Net foreign currency transactional and re-measurement (gains) losses 1,003 (1,437) 3,141 (1,094) Net foreign currency exchange losses $ 480 $ 381 $ 966 $ 819 Net foreign currency exchange gains and losses consist of foreign currency transactional and functional currency re-measurements, offset by net foreign currency exchange contract gains and losses and are included in other income and expense. Foreign currency exchange gains and losses are generated as the result of fluctuations in the value of the U.S. dollar versus the Brazilian real, the U.S. dollar versus the euro, British pound versus the euro and other currencies versus the U.S. dollar. Interest Rates - The Company’s earnings are also affected by changes in interest rates due to the impact those changes have on interest expense from floating rate debt instruments. The Company manages its exposure to changes in interest rates by using interest rate swaps to hedge this exposure and to achieve a desired proportion of fixed versus floating rate debt. The Company entered into an interest rate swap agreement, which was subsequently settled, and entered into a new amended agreement on April 30, 2019. The swap agreement has a notional amount of $100.0 million, with a $50.0 million tranche scheduled to mature on April 30, 2024 and a $50.0 million tranche scheduled to mature April 30, 2026. This swap agreement is designated as a cash flow hedge to hedge the variable rate interest payments on the revolving credit facility. Interest rate differentials paid or received under the swap agreement are recognized as adjustments to interest expense. To the extent the swap is effective in offsetting the variability of the hedged cash flows, changes in the fair value of the swap are not included in current earnings but are reported as other comprehensive income (loss). There was no ineffective portion to be recorded as an adjustment to earnings for the quarters ended December 31, 2021 and 2020. The components of the cash flow hedge included in the Condensed Consolidated Statement of Comprehensive Income for the quarters and six months ended December 31, 2021 and 2020, are as follows: Quarter ended Six months ended December 31, December 31, 2021 2020 2021 2020 (in thousands) Net interest expense recognized as a result of interest rate swap $ 579 $ 565 $ 1,157 $ 1,125 Unrealized gain (loss) in fair value of interest rate swap 999 135 983 (268) Net increase in accumulated other comprehensive income 1,578 700 2,140 857 Income tax effect 406 181 555 229 Net increase in accumulated other comprehensive income, net of tax $ 1,172 $ 519 $ 1,585 $ 628 The Company used the following derivative instruments at December 31, 2021 and June 30, 2021, reflected in its Condensed Consolidated Balance Sheets, for the risk management purposes detailed above: December 31, 2021 June 30, 2021 Balance Sheet Location Fair Value of Fair Value of Fair Value of Fair Value of (in thousands) Derivative assets: Foreign currency hedge Prepaid expenses and other current assets $ — $ — $ 187 $ — Derivative liabilities: Foreign exchange contracts Accrued expenses and other current liabilities $ — $ 55 $ — $ 5 Foreign currency hedge Accrued expenses and other current liabilities $ 283 $ — $ — $ — Interest rate swap agreement Other long-term liabilities $ 4,054 $ — $ 6,280 $ —

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments Accounting guidance defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Under this guidance, the Company classifies certain assets and liabilities based on the fair value hierarchy, which aggregates fair value measured assets and liabilities based upon the following levels of inputs: • 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 inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability; and • Level 3 – Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity). The assets and liabilities maintained by the Company that are required to be measured or disclosed at fair value on a recurring basis include the Company’s various debt instruments, deferred compensation plan investments, outstanding forward foreign currency exchange contracts, interest rate swap agreements and contingent consideration owed to the previous owners of Intelisys. The carrying value of debt is considered to approximate fair value, as the Company’s debt instruments are indexed to a variable rate using the market approach (Level 2). The following table summarizes the valuation of the Company’s remaining assets and liabilities measured at fair value on a recurring basis at December 31, 2021: Total Quoted Significant Significant (in thousands) Assets: Deferred compensation plan investments, current and non-current portion $ 31,333 $ 31,333 $ — $ — Total assets at fair value $ 31,333 $ 31,333 $ — $ — Liabilities: Deferred compensation plan investments, current and non-current portion $ 31,333 $ 31,333 $ — $ — Forward foreign currency exchange contracts 55 — 55 — Foreign currency hedge 283 — 283 — Interest rate swap agreement 4,054 — 4,054 — Total liabilities at fair value $ 35,725 $ 31,333 $ 4,392 $ — The following table summarizes the valuation of the Company’s remaining assets and liabilities measured at fair value on a recurring basis at June 30, 2021: Total Quoted Significant Significant (in thousands) Assets: Deferred compensation plan investments, current and non-current portion $ 31,168 $ 31,168 $ — $ — Foreign currency hedge 187 — 187 — Total assets at fair value $ 31,355 $ 31,168 $ 187 $ — Liabilities: Deferred compensation plan investments, current and non-current portion $ 31,168 $ 31,168 $ — $ — Forward foreign currency exchange contracts 5 — 5 — Interest rate swap agreement 6,280 — 6,280 — Total liabilities at fair value $ 37,453 $ 31,168 $ 6,285 $ — The investments in the deferred compensation plan are held in a "rabbi trust" and include mutual funds and cash equivalents for payment of non-qualified benefits for certain retired, terminated and active employees. These investments are recorded to prepaid expenses and other current assets or other non-current assets depending on their corresponding, anticipated distribution dates to recipients, which are reported in accrued expenses and other current liabilities or other long-term liabilities, respectively. Derivative instruments, such as foreign currency forward contracts, are measured using the market approach on a recurring basis considering foreign currency spot rates and forward rates quoted by banks or foreign currency dealers and interest rates quoted by banks (Level 2). Fair values of interest rate swaps are measured using standard valuation models with inputs that can be derived from observable market transactions, including LIBOR spot and forward rates (Level 2). Foreign currency contracts and interest rate swap agreements are classified in the Condensed Consolidated Balance Sheets as prepaid expenses and other non-current assets or accrued expenses and other long-term liabilities, depending on the respective instruments' favorable or unfavorable positions. See Note 8 - Derivatives and Hedging Activities . The Company recorded a contingent consideration liability at the acquisition date of Intelisys representing the amounts payable to former shareholders, as outlined under the terms of the purchase agreements, based upon the achievement of a projected earnings measure, net of specific pro forma adjustments. The current and non-current portions of these obligations are reported separately on the Condensed Consolidated Balance Sheets. The fair value of the contingent considerations (Level 3) are determined using a form of a probability weighted discounted cash flow model. Subsequent changes in the fair value of the contingent consideration liabilities are recorded to the change in fair value of contingent consideration line item in the Condensed Consolidated Income Statements. The table below provides a summary of the changes in fair value of the Company's contingent considerations for the Intelisys earnout, which is measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the quarter and six months ended December 31, 2020. Quarter ended December 31, 2020 Six months ended December 31, 2020 Modern Communications & Cloud (in thousands) Fair value at beginning of period $ 46,850 $ 46,334 Payments (46,850) (46,850) Change in fair value of contingent consideration — 516 Fair value at end of period $ — $ — The fair values of amounts owed are recorded in current portion of contingent consideration in the Company’s Condensed Consolidated Balance Sheets. In accordance with ASC 805, the Company revalued the contingent consideration liability at each reporting date through the last payment, with changes in the fair value of the contingent consideration reflected in the change in fair value of contingent consideration line item on the Company’s Condensed Consolidated Income Statements that is included in the calculation of operating income. The fair value of the contingent consideration liability associated with future earnout payments was based on several factors, including: • estimated future results, net of pro forma adjustments set forth in the purchase agreements; • the probability of achieving these results; and • a discount rate reflective of the Company’s creditworthiness and market risk premium associated with the United States markets. The final earnout payment due to the former owners of Intelisys was paid in October 2020. The company recognized $0.5 million in expense from the change in fair value of the contingent consideration in the Condensed Consolidated Income Statement for the six months ended December 31, 2020. The change in fair value was due to the recurring amortization of the unrecognized fair value discount.

Segment Information

Segment Information	6 Months Ended
	Dec. 31, 2021
Segment Reporting, Measurement Disclosures [Abstract]
Segment Information	Segment Information The Company is a leading provider of technology solutions and services to customers in specialty technology markets. The Company has two reportable segments, based on product and customer type. Specialty Technology Solutions Segment The Specialty Technology Solutions segment includes the Company’s business in automatic identification and data capture (“AIDC”), point of sale (“POS”), payments, security, and networking technologies. AIDC solutions include mobile computing, barcode scanners and imagers, radio frequency identification devices (“RFID”), barcode printing, and services. POS and payments solutions include POS systems, integrated POS software platforms, self-service kiosks including self-checkout, payment terminals, and mobile payment devices. Security solutions include video surveillance and analytics, video management software, and access control. Networking solutions include switching, routing, and wireless products and software. The Company has business operations within this segment in the United States, Canada, and Brazil. Modern Communications & Cloud Segment The Modern Communications & Cloud segment includes the Company’s business in communications and collaboration, connectivity, and cloud services. Communications and collaboration solutions, delivered in the cloud, on-premise, or hybrid, include voice, video, integration of communication platforms, and contact center solutions. The Intelisys connectivity and cloud marketplace offers telecom, cable, Unified Communications as a Service (“UCaaS”), Contact Center as a Service (“CCaaS”), Infrastructure as a Service (“IaaS”), Software-Defined Wide-Area Network (“SD-WAN”), and other cloud services. This segment includes SaaS and subscription services, which the Company offers using digital tools and platforms. The Company has business operations within this segment in the United States, Canada, Brazil and the UK. Selected financial information for each business segment is presented below: Quarter ended Six months ended December 31, December 31, 2021 2020 2021 2020 (in thousands) Sales: Specialty Technology Solutions $ 496,920 $ 455,248 $ 998,630 $ 864,026 Modern Communications & Cloud 367,431 355,649 723,032 704,212 $ 864,351 $ 810,897 $ 1,721,662 $ 1,568,238 Depreciation and amortization: Specialty Technology Solutions $ 2,897 $ 3,308 $ 5,867 $ 6,854 Modern Communications & Cloud 3,613 4,246 7,574 8,616 Corporate 719 794 1,438 1,589 $ 7,229 $ 8,348 $ 14,879 $ 17,059 Change in fair value of contingent consideration: Modern Communications & Cloud — — — 516 $ — $ — $ — $ 516 Operating income (loss): Specialty Technology Solutions $ 16,551 $ 7,161 $ 30,655 $ 8,845 Modern Communications & Cloud 14,894 11,813 31,201 20,529 Corporate (1) 53 (1,844) (30) (10,610) $ 31,498 $ 17,130 $ 61,826 $ 18,764 Capital expenditures: Specialty Technology Solutions $ (318) $ (281) $ (435) $ (564) Modern Communications & Cloud (1,236) (425) (2,210) (890) $ (1,554) $ (706) $ (2,645) $ (1,454) Sales by Geography Category: United States and Canada $ 774,573 $ 723,522 $ 1,546,215 $ 1,414,603 International 90,419 90,893 178,231 164,631 Less intercompany sales (641) (3,518) (2,784) (10,996) $ 864,351 $ 810,897 $ 1,721,662 $ 1,568,238 (1) For the quarter and six months ended December 31, 2021, the amounts shown above include divestiture costs. For the quarter and six months ended December 31, 2020, the amounts shown above include restructuring and divestiture costs. December 31, 2021 June 30, 2021 (in thousands) Assets: Specialty Technology Solutions $ 867,909 $ 775,704 Modern Communications & Cloud 892,086 868,752 Corporate 10,875 27,228 $ 1,770,870 $ 1,671,684 Property and equipment, net by Geography Category: United States and Canada $ 35,480 $ 39,930 International 3,759 2,906 $ 39,239 $ 42,836

Leases

Leases	6 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Leases	Leases In accordance with ASC 842, at contract inception the Company determines if a contract contains a lease by assessing whether the contract contains an identified asset and whether the Company has the ability to control the asset. The Company also determines if the lease meets the classification criteria for an operating lease versus a finance lease under ASC 842. Substantially all of the Company's leases are operating leases for real estate, warehouse and office equipment ranging in duration from 1 year to 10 years. The Company has elected not to record short-term operating leases with an initial term of 12 months or less on the Condensed Consolidated Balance Sheets. Operating leases are recorded as other non-current assets, accrued expenses and other current liabilities and other long-term liabilities on the Condensed Consolidated Balance Sheets. The Company has finance leases for information technology equipment expiring through fiscal year 2024. Finance leases are recorded as property and equipment, net accrued expenses and other current liabilities other long-term liabilities Operating lease right-of-use assets and lease liabilities are recognized at the commencement date based on the net present value of future minimum lease payments over the lease term. The Company generally is not able to determine the rate implicit in its leases and has elected to apply an incremental borrowing rate as the discount rate for the present value determination, which is based on the Company's cost of borrowings for the relevant terms of each lease and geographical economic factors. Certain operating lease agreements contain options to extend or terminate the lease. The lease term used is adjusted for these options when the Company is reasonably certain it will exercise the option. Operating lease expense is recognized on a straight-line basis over the lease term. Variable lease payments not based on a rate or index, such as costs for common area maintenance, are expensed as incurred. Further, the Company has elected the practical expedient to recognize all lease and non-lease components as a single lease component, where applicable. The following table presents amounts recorded on the Condensed Consolidated Balance Sheet related to operating leases at December 31, 2021 and June 30, 2021: December 31, 2021 June 30, 2021 Operating leases Balance Sheet location (in thousands) Operating lease right-of-use assets Other non-current assets $ 18,649 $ 19,246 Current operating lease liabilities Accrued expenses and other current liabilities $ 4,448 $ 4,284 Long-term operating lease liabilities Other long-term liabilities $ 15,659 $ 16,550 The following table presents amounts recorded in operating lease expense as part of selling general and administrative expenses on the Condensed Consolidated Income Statements during the quarters and six months ended December 31, 2021 and 2020. Operating lease costs contain immaterial amounts of short-term lease costs for leases with an initial term of 12 months or less. Quarter ended December 31, Six months ended December 31, 2021 2020 2021 2020 (in thousands) Operating lease cost $ 1,268 $ 1,332 $ 2,512 $ 2,687 Variable lease cost 328 273 650 583 $ 1,596 $ 1,605 $ 3,162 $ 3,270 Supplemental cash flow information related to the Company's operating leases for the six months ended December 31, 2021 and 2020 are presented in the table below: Six months ended December 31, 2021 2020 (in thousands) Cash paid for amounts in the measurement of lease liabilities $ 2,652 $ 2,602 Right-of-use assets obtained in exchange for lease obligations 1,782 — The weighted-average remaining lease term and discount rate at December 31, 2021 are presented in the table below: December 31, 2021 Weighted-average remaining lease term 4.80 years Weighted-average discount rate 4.01 % The following table presents the maturities of the Company's operating lease liabilities at December 31, 2021: Operating leases (in thousands) 2022 $ 2,708 2023 5,094 2024 4,592 2025 3,563 2026 3,029 Thereafter 3,346 Total future payments 22,332 Less: amounts representing interest 2,225 Present value of lease payments $ 20,107
Leases	Leases In accordance with ASC 842, at contract inception the Company determines if a contract contains a lease by assessing whether the contract contains an identified asset and whether the Company has the ability to control the asset. The Company also determines if the lease meets the classification criteria for an operating lease versus a finance lease under ASC 842. Substantially all of the Company's leases are operating leases for real estate, warehouse and office equipment ranging in duration from 1 year to 10 years. The Company has elected not to record short-term operating leases with an initial term of 12 months or less on the Condensed Consolidated Balance Sheets. Operating leases are recorded as other non-current assets, accrued expenses and other current liabilities and other long-term liabilities on the Condensed Consolidated Balance Sheets. The Company has finance leases for information technology equipment expiring through fiscal year 2024. Finance leases are recorded as property and equipment, net accrued expenses and other current liabilities other long-term liabilities Operating lease right-of-use assets and lease liabilities are recognized at the commencement date based on the net present value of future minimum lease payments over the lease term. The Company generally is not able to determine the rate implicit in its leases and has elected to apply an incremental borrowing rate as the discount rate for the present value determination, which is based on the Company's cost of borrowings for the relevant terms of each lease and geographical economic factors. Certain operating lease agreements contain options to extend or terminate the lease. The lease term used is adjusted for these options when the Company is reasonably certain it will exercise the option. Operating lease expense is recognized on a straight-line basis over the lease term. Variable lease payments not based on a rate or index, such as costs for common area maintenance, are expensed as incurred. Further, the Company has elected the practical expedient to recognize all lease and non-lease components as a single lease component, where applicable. The following table presents amounts recorded on the Condensed Consolidated Balance Sheet related to operating leases at December 31, 2021 and June 30, 2021: December 31, 2021 June 30, 2021 Operating leases Balance Sheet location (in thousands) Operating lease right-of-use assets Other non-current assets $ 18,649 $ 19,246 Current operating lease liabilities Accrued expenses and other current liabilities $ 4,448 $ 4,284 Long-term operating lease liabilities Other long-term liabilities $ 15,659 $ 16,550 The following table presents amounts recorded in operating lease expense as part of selling general and administrative expenses on the Condensed Consolidated Income Statements during the quarters and six months ended December 31, 2021 and 2020. Operating lease costs contain immaterial amounts of short-term lease costs for leases with an initial term of 12 months or less. Quarter ended December 31, Six months ended December 31, 2021 2020 2021 2020 (in thousands) Operating lease cost $ 1,268 $ 1,332 $ 2,512 $ 2,687 Variable lease cost 328 273 650 583 $ 1,596 $ 1,605 $ 3,162 $ 3,270 Supplemental cash flow information related to the Company's operating leases for the six months ended December 31, 2021 and 2020 are presented in the table below: Six months ended December 31, 2021 2020 (in thousands) Cash paid for amounts in the measurement of lease liabilities $ 2,652 $ 2,602 Right-of-use assets obtained in exchange for lease obligations 1,782 — The weighted-average remaining lease term and discount rate at December 31, 2021 are presented in the table below: December 31, 2021 Weighted-average remaining lease term 4.80 years Weighted-average discount rate 4.01 % The following table presents the maturities of the Company's operating lease liabilities at December 31, 2021: Operating leases (in thousands) 2022 $ 2,708 2023 5,094 2024 4,592 2025 3,563 2026 3,029 Thereafter 3,346 Total future payments 22,332 Less: amounts representing interest 2,225 Present value of lease payments $ 20,107

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company and its subsidiaries are, from time to time, parties to lawsuits arising out of operations. Although there can be no assurance, based upon information known to the Company, the Company believes that any liability resulting from an adverse determination of such lawsuits would not have a material adverse effect on the Company’s financial condition, results of operations or cash flows. The spread of COVID-19 since December 2019 has resulted in the implementation of numerous measures to contain the virus worldwide, such as travel bans and restrictions, quarantines, shelter-in-place orders, business shutdowns, and limitations of in-person gatherings. The pandemic and these containment measures have had a substantial impact on businesses around the world and on global, regional and national economies. The Company is unable at this time to predict the ultimate impact that COVID-19 will have on its business due to the inability to predict the duration or magnitude of the virus' impact. During the Company's due diligence for the Network1 acquisition, several pre-acquisition contingencies were identified regarding various Brazilian federal and state tax exposures. The Company recorded indemnification receivables that are reported gross of the pre-acquisition contingency liabilities as the funds were escrowed as part of the acquisition. The amount available after the impact of foreign currency translation for future pre-acquisition contingency settlements or to be released to the sellers was $3.7 million and $4.0 million, at December 31, 2021 and June 30, 2021, respectively. The table below summarizes the balances and line item presentation of Network1's pre-acquisition contingencies and corresponding indemnification receivables in the Company's Condensed Consolidated Balance Sheets at December 31, 2021 and June 30, 2021: December 31, 2021 June 30, 2021 Network1 (in thousands) Assets Prepaid expenses and other current assets $ 14 $ 16 Other non-current assets $ 3,584 $ 3,998 Liabilities Accrued expenses and other current liabilities $ 14 $ 16 Other long-term liabilities $ 3,584 $ 3,998 The decrease in pre-acquisition contingencies and corresponding indemnification receivables is due to a slight decrease in the foreign exchange rate of the Brazilian real against the US dollar.

Restructuring

Restructuring	6 Months Ended
	Dec. 31, 2021
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring In July 2020, as part of a strategic review of its organizational structure and operations, the Company announced a global cost reduction and restructuring program. These actions were designed to better align the cost structure for the wholesale distribution business with lower sales volumes as a result of the COVID-19 pandemic. The Company also initiated the closure of its Canpango business, its Salesforce implementation and consulting business. There had been limited adoption by the Company's partner community of the services Canpango offers. These actions include entering into severance and termination agreements with employees, legal fees to execute the reduction in force and costs associated with lease terminations. There were no restructuring or severance costs incurred during the quarter and six months ended December 31, 2021. The following table presents the restructuring and severance costs incurred for the quarter and six months ended December 31, 2020: Quarter ended December 31, 2020 Six months ended December 31, 2020 (in thousands) Severance and benefit costs $ 374 $ 8,499 Other 110 254 Total restructuring and other charges $ 484 $ 8,753 All restructuring costs were recognized in the Corporate reporting unit and were not allocated to the Specialty Technology Solutions or Modern Communications & Cloud segments. Accrued restructuring and severance costs are included in accrued expenses and other current liabilities on the Condensed Consolidated Balance Sheets. The following table represents activity for the six months ended December 31, 2021: Accrued Expenses (in thousands) Balance at June 30, 2021 $ 1,199 Charged to expense — Cash payments (943) Balance at December 31, 2021 $ 256 The remaining balance as of December 31, 2021 of $0.3 million, primarily related to Corporate, is expected to be paid through the third quarter of fiscal year 2022.

Income Taxes

Income Taxes	6 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income taxes for the quarters and six months ended December 31, 2021 and 2020 have been included in the accompanying condensed consolidated financial statements using an estimated annual effective tax rate. In addition to applying the estimated annual effective tax rate to pre-tax income, the Company includes certain items treated as discrete events to arrive at an estimated overall tax provision. During the quarters and six months ended December 31, 2021, a discrete net tax benefit of $0.9 million was recorded, which is attributable to excess tax benefits on stock compensation and a notional interest deduction on the net equity of the Company's Brazilian subsidiary. The Company’s effective tax rate of 23.9% and 24.4% for the quarter and six months ended December 31, 2021, respectively, differs from the current federal statutory rate of 21% primarily as a result of income derived from tax jurisdictions with varying income tax rates, nondeductible expenses and state income taxes. The Company's effective tax rate was 29.7% and 29.8% for the quarter and six months ended December 31, 2020, respectively. As of the quarter ended December 31, 2021, the Company is not permanently reinvested with respect to all earnings generated by foreign operations. The Company has determined that there is no material deferred tax liability related to federal, state and withholding tax related to undistributed earnings. During the quarter ended December 31, 2021, foreign subsidiaries repatriated cash of $17.4 million to the United States. There is no certainty to the timing of any future distributions of such earnings to the U.S. in whole or in part. The Company had approximately $1.2 million and $1.1 million of total gross unrecognized tax benefits at December 31, 2021 and June 30, 2021, respectively. Of this total at December 31, 2021, approximately $0.9 million represents the amount of unrecognized tax benefits that are permanent in nature and, if recognized, would affect the annual effective tax rate. The Company does not believe that the total amount of unrecognized tax benefits will significantly increase or decrease within twelve months of the reporting date. The Company’s policy is to recognize interest and penalties related to income tax matters in income tax expense. At December 31, 2021 and June 30, 2021, the Company had approximately $1.1 million accrued for interest and penalties. The Company conducts business globally and one or more of its subsidiaries files income tax returns in the U.S. federal, various state, local and foreign jurisdictions. In the normal course of business, the Company is subject to examination by taxing authorities in countries and states in which it operates. With certain exceptions, the Company is no longer subject to federal, state and local, or non-U.S. income tax examinations by tax authorities for the years before June 30, 2016.

Discontinued Operations

Discontinued Operations	6 Months Ended
	Dec. 31, 2021
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Discontinued Operations On August 20, 2019, the Company announced plans to divest the product distribution businesses in Europe, the UK, Mexico, Colombia, Chile, Peru and the Miami-based export operations ("Divestitures") as these businesses were performing below management's expectations. The Company continues to operate its digital business in these countries. Management determined that the Company did not have sufficient scale in these markets to maximize the value-added model for product distribution, leading the Company to focus and invest in its higher-growth, higher-margin businesses. Results from the Divestitures were included within each reportable segment, which includes the Specialty Technology Solutions and Modern Communications & Cloud segments. During the quarter ended June 30, 2020, the Company recorded a pre-tax loss on sale classification of $88.9 million to reduce the carrying value of the Divestitures to its estimate of fair value (the net proceeds received at closing), less estimated costs to sell. As this loss was determined not to be attributable to any individual components in the Divestitures' net assets, it was reflected as a valuation allowance against the total assets of the Divestitures. During the quarter ended September 30, 2020, the Company recorded an additional pre-tax loss on disposal group of $10.7 million. This additional loss was attributable primarily to a reduction in the net proceeds expected to be realized at closing for the Divestitures. During the quarter ended December 31, 2021, the Company received the second and final payment for its businesses in Latin America, outside of Brazil, related to working capital adjustments and in accordance with the Share Purchase Agreement between Intcomex and the Company. The receipt of payment resulted in a gain on disposal group of $0.1 million. The Company signed an agreement on July 23, 2020 with Intcomex for its businesses located in Latin America, outside of Brazil. The Company finalized the sale of the Latin America businesses on October 30, 2020. Th e Company also finalized the sale of the Europe and UK business on November 12, 2020. During the quarter ended December 31, 2021, the Company received a final $3.1 million cash payment for the sale of the Latin America business. Total cash received for the sale of divestitures was $37.5 million. Major components of net (income) loss from discontinued operations for the quarters and six months ended December 31, 2021 and 2020 were as follows: Quarter ended December 31, 2021 Quarter ended December 31, 2020 Six months ended December 31, 2021 Six months ended December 31, 2020 (in thousands) Net sales $ — $ 68,323 $ — $ 213,373 Cost of goods sold — 63,977 — 198,512 Gross profit — 4,346 — 14,861 Selling, general and administrative expenses — 6,378 — 17,291 Operating loss — (2,032) — (2,430) Interest expense, net — 269 — 394 (Gain) loss on disposal group (100) 23,122 (100) 33,808 Other (income) expense, net — (181) — 310 Income (loss) from discontinued operations before taxes 100 (25,242) 100 (36,942) Income tax expense — 13 — 17 Net income (loss) from discontinued operations $ 100 $ (25,255) $ 100 $ (36,959) There were no assets or liabilities classified as held-for-sale in the accompanying consolidated balance sheets at December 31, 2021 and June 30, 2021. There were no significant non-cash items in the cash flows from discontinued operations for the six months ended December 31, 2021. Significant non-cash operating items and capital expenditures reflected in the cash flows from discontinued operations for the six months ended December 31, 2020 were as follows: Six months ended December 31, 2020 (in thousands) Loss on disposal group $ 33,808 Capital expenditures $ (58)

Business and Summary of Signi_2

Business and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation	The accompanying unaudited condensed consolidated financial statements of the Company have been prepared by the Company’s management in accordance with United States generally accepted accounting principles ("U.S. GAAP") for interim financial information and applicable rules and regulations of the Securities Exchange Act of 1934. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for annual financial statements. The unaudited condensed consolidated financial statements included herein contain all adjustments (consisting of normal recurring and non-recurring adjustments) that are, in the opinion of management, necessary to present fairly the financial position at December 31, 2021 and June 30, 2021, the results of operations for the quarters and six months ended December 31, 2021 and 2020, the statements of comprehensive income for the quarters and six months ended December 31, 2021 and 2020, the statements of shareholders' equity for the quarters and six months ended December 31, 2021 and 2020 and the statements of cash flows for the six months ended December 31, 2021 and 2020. The results of operations for the quarters and six months ended December 31, 2021 and 2020 are not necessarily indicative of the results to be expected for a full year. These financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2021. Unless otherwise indicated, disclosures provided in the Notes pertain to continuing operations only.
Summary of Significant Accounting Policies	There have been no material changes to the Company’s significant accounting policies for the six months ended December 31, 2021 from the policies described in the notes to the Company’s consolidated financial statements included in the Annual Report on Form 10-K for the fiscal year ended June 30, 2021. For a discussion of the Company’s significant accounting policies, please see the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2021.
Cash and Cash Equivalents	The Company considers all highly-liquid investments with original maturities of three months or less, when purchased, to be cash equivalents. The Company maintains zero-balance disbursement accounts at various financial institutions at which the Company does not maintain significant depository relationships. Due to the terms of the agreements governing these accounts, the Company generally does not have the right to offset outstanding checks written from these accounts against cash on hand, and the respective institutions are not legally obligated to honor the checks until sufficient funds are transferred to fund the checks.
Long-lived Assets	The Company presents depreciation expense and intangible amortization expense on the Condensed Consolidated Income Statements. The Company's depreciation expense related to selling, general and administrative costs totaled $2.5 million and $5.4 million for the quarter and six months ended December 31, 2021 and $3.1 million and $6.5 million for the quarter and six months ended December 31, 2020. Depreciation expense reported as part of cost of goods sold on the Condensed Consolidated Income Statements totaled $0.2 million and $0.5 million for the quarter and six months ended December 31, 2021 and $0.4 million and $0.9 million for the quarter and six months ended December 31, 2020. The Company's intangible amortization expense reported on the Condensed Consolidated Income Statements relates to selling, general and administrative costs, not the cost of selling goods.
Recent Accounting Pronouncements	The Company has reviewed newly issued accounting pronouncements and concluded that they are either not applicable to its business or that no material effect is expected on its consolidated financial statements as a result of future adoption.
Trade Accounts and Notes Receivable, Net	The Company maintains an allowance for doubtful accounts receivable for estimated future expected credit losses resulting from customers’ failure to make payments on accounts receivable due to the Company. The Company has notes receivable with certain customers, which are included in “Accounts receivable, less allowance” in the Condensed Consolidated Balance Sheets. Management determines the estimate of the allowance for doubtful accounts receivable by considering a number of factors, including: (i) historical experience, (ii) aging of the accounts receivable, (iii) specific information obtained by the Company on the financial condition and the current creditworthiness of its customers, (iv) the current economic and country-specific
Revenue Recognition	The Company provides technology solutions and services from the world's leading suppliers of mobility and barcode, POS, payments, physical security, unified communications and collaboration, and telecom and cloud services. This includes hardware, related accessories and device configuration as well as software licenses, professional services and hardware support programs. In determining the appropriate amount of revenue to recognize, the Company applies the following five-step model: (i) identify contracts with customers; (ii) identify performance obligations in the contracts; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations per the contracts; and (v) recognize revenue when (or as) the Company satisfies a performance obligation. The Company recognizes revenue as control of products and services are transferred to customers, which is generally at the point of shipment. The Company delivers products to customers in several ways, including: (i) shipment from the Company's warehouse, (ii) drop-shipment directly from the supplier, or (iii) electronic delivery for non-physical products. Principal versus Agent Considerations The Company is the principal for sales of all hardware, certain software and services, including self-branded warranty programs. The Company considers itself the principal in these transactions as it has control of the product or service before it is transferred to the customer. When the Company provides self-branded warranty programs, it engages a third party, generally the original equipment manufacturer, to cover the fulfillment of any obligations arising from these contracts. These revenues and associated third-party costs are amortized over the life of the contract on a straight-line basis. The Company recognizes the previously described revenue and cost of goods sold on a gross basis. The Company is the agent for third-party service contracts, including product warranties and supplier-hosted software. These service contracts are sold separately from the products, and the Company often serves as the agent for the contract on behalf of the original equipment manufacturer. The Company's responsibility is to arrange for the provision of the specified service by the original equipment manufacturer, and the Company does not control the specified service before it is transferred to the customer. Because the Company acts as an agent, revenue is recognized net of cost at the time of sale. The Intelisys business operates under an agency model. Variable Considerations For certain transactions, products are sold with a right of return and may also provide other rebates or incentives, which are accounted for as variable consideration. The Company estimates returns allowance based on historical experience and reduces revenue accordingly. The Company estimates the amount of variable consideration for rebates and incentives by using the expected value or the most likely amount to be given to the customer and reduces the revenue by those estimated amounts. These estimates are reviewed and updated as necessary at the end of each reporting period. Contract Balances

Trade Accounts and Notes Rece_2

Trade Accounts and Notes Receivable, Net (Tables)	6 Months Ended
	Dec. 31, 2021
Receivables [Abstract]
Schedule of Changes in the Allowance for Doubtful Accounts	The changes in the allowance for doubtful accounts for the six months ended December 31, 2021 are set forth in the table below. June 30, 2021 Amounts Charged to Expense Write-offs Other (1) December 31, 2021 (in thousands) Trade accounts and current notes receivable allowance $ 19,341 $ 921 $ (1,340) $ (1,529) $ 17,393

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following tables represent the Company's disaggregation of revenue: Quarter ended December 31, 2021 Specialty Technology Solutions Modern Communications & Cloud Total (in thousands) Revenue by product/service: Hardware, software and cloud (excluding Intelisys) $ 496,920 $ 348,893 $ 845,813 Intelisys connectivity and cloud — 18,538 18,538 $ 496,920 $ 367,431 $ 864,351 Six months ended December 31, 2021 Specialty Technology Solutions Modern Communications & Cloud Total (in thousands) Revenue by product/service: Hardware, software and cloud (excluding Intelisys) $ 998,630 $ 687,142 $ 1,685,772 Intelisys connectivity and cloud — 35,890 35,890 $ 998,630 $ 723,032 $ 1,721,662 Quarter ended December 31, 2020 Specialty Technology Solutions Modern Communications & Cloud Total (in thousands) Revenue by product/service: Hardware, software and cloud (excluding Intelisys) $ 455,248 $ 339,404 $ 794,652 Intelisys connectivity and cloud — 16,245 16,245 $ 455,248 $ 355,649 $ 810,897 Six months ended December 31, 2020 Specialty Technology Solutions Modern Communications & Cloud Total (in thousands) Revenue by product/service: Hardware, software and cloud (excluding Intelisys) $ 864,026 $ 672,709 $ 1,536,735 Intelisys connectivity and cloud — 31,503 31,503 $ 864,026 $ 704,212 $ 1,568,238

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Schedule of Earnings Per Share	Quarter ended Six months ended December 31, December 31, 2021 2020 2021 2020 (in thousands, except per share data) Numerator: Net income from continuing operations $ 23,152 $ 11,061 $ 45,225 $ 10,946 Net income (loss) from discontinued operations 100 (25,255) 100 (36,959) Net income (loss) $ 23,252 $ (14,194) $ 45,325 $ (26,013) Denominator: Weighted-average shares, basic 25,585 25,395 25,549 25,378 Dilutive effect of share-based payments 310 80 257 80 Weighted-average shares, diluted 25,895 25,475 25,806 25,458 Net income from continuing operations per common share, basic $ 0.91 $ 0.44 $ 1.77 $ 0.43 Net loss from discontinued operations per common share, basic — (1.00) — (1.46) Net income (loss) per common share, basic $ 0.91 $ (0.56) $ 1.77 $ (1.03) Net income from continuing operations per common share, diluted $ 0.89 $ 0.43 $ 1.75 $ 0.43 Net loss from discontinued operations per common share, diluted — (0.99) — (1.45) Net income (loss) per common share, diluted $ 0.90 $ (0.56) $ 1.76 $ (1.02)

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Income, Net Of Tax	Accumulated other comprehensive loss consists of the following: December 31, 2021 June 30, 2021 (in thousands) Foreign currency translation adjustment $ (107,467) $ (93,561) Unrealized loss on hedged transaction, net of tax (2,987) (4,572) Accumulated other comprehensive loss $ (110,454) $ (98,133)
Schedule of Other Comprehensive Loss, Tax	The tax effect of amounts in comprehensive loss (income) reflect a tax expense or (benefit) as follows: Quarter ended December 31, Six months ended December 31, 2021 2020 2021 2020 (in thousands) Tax expense (benefit) $ 517 $ (94) $ 800 $ 260

Goodwill and Other Identifiab_2

Goodwill and Other Identifiable Intangible Assets (Tables)	6 Months Ended
	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in the Carrying Amount of Goodwill	The changes in the carrying amount of goodwill for the six months ended December 31, 2021, by reporting segment, are set forth in the table below. Specialty Technology Solutions Modern Communications & Cloud Total (in thousands) Balance at June 30, 2021 $ 16,370 $ 202,507 $ 218,877 Foreign currency translation adjustment — (2,122) (2,122) Balance at December 31, 2021 $ 16,370 $ 200,385 $ 216,755
Schedule of Net Identifiable Intangible Assets	The following table shows changes in the amount recognized for net identifiable intangible assets for the six months ended December 31, 2021. Net Identifiable Intangible Assets (in thousands) Balance at June 30, 2021 $ 104,860 Reductions — Amortization expense (8,956) Foreign currency translation adjustment (859) Balance at December 31, 2021 $ 95,045

Short-Term Borrowings and Lon_2

Short-Term Borrowings and Long-Term Debt (Tables)	6 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Schedule of Debt	The following table presents the Company’s debt at December 31, 2021 and June 30, 2021. December 31, 2021 June 30, 2021 (in thousands) Current portion of long-term debt $ 9,723 $ 7,843 Mississippi revenue bond, net of current portion 3,733 4,081 Senior secured term loan facility, net of current portion 125,625 131,250 Borrowings under revolving credit facility 57,785 — Total debt $ 196,866 $ 143,174

Derivatives and Hedging Activ_2

Derivatives and Hedging Activities (Tables)	6 Months Ended
	Dec. 31, 2021
General Discussion of Derivative Instruments and Hedging Activities [Abstract]
Schedule of Derivative Contracts and Changes in Underlying Value of the Foreign Currency Exposures	Summarized financial information related to these derivative contracts and changes in the underlying value of the foreign currency exposures included in the Condensed Consolidated Income Statements for the quarters and six months ended December 31, 2021 and 2020 are as follows: Quarter ended Six months ended December 31, December 31, 2021 2020 2021 2020 (in thousands) Net foreign exchange derivative contract (gains) losses $ (523) $ 1,818 $ (2,175) $ 1,913 Net foreign currency transactional and re-measurement (gains) losses 1,003 (1,437) 3,141 (1,094) Net foreign currency exchange losses $ 480 $ 381 $ 966 $ 819
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)	The components of the cash flow hedge included in the Condensed Consolidated Statement of Comprehensive Income for the quarters and six months ended December 31, 2021 and 2020, are as follows: Quarter ended Six months ended December 31, December 31, 2021 2020 2021 2020 (in thousands) Net interest expense recognized as a result of interest rate swap $ 579 $ 565 $ 1,157 $ 1,125 Unrealized gain (loss) in fair value of interest rate swap 999 135 983 (268) Net increase in accumulated other comprehensive income 1,578 700 2,140 857 Income tax effect 406 181 555 229 Net increase in accumulated other comprehensive income, net of tax $ 1,172 $ 519 $ 1,585 $ 628
Schedule of Derivative Instruments	The Company used the following derivative instruments at December 31, 2021 and June 30, 2021, reflected in its Condensed Consolidated Balance Sheets, for the risk management purposes detailed above: December 31, 2021 June 30, 2021 Balance Sheet Location Fair Value of Fair Value of Fair Value of Fair Value of (in thousands) Derivative assets: Foreign currency hedge Prepaid expenses and other current assets $ — $ — $ 187 $ — Derivative liabilities: Foreign exchange contracts Accrued expenses and other current liabilities $ — $ 55 $ — $ 5 Foreign currency hedge Accrued expenses and other current liabilities $ 283 $ — $ — $ — Interest rate swap agreement Other long-term liabilities $ 4,054 $ — $ 6,280 $ —

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value	The following table summarizes the valuation of the Company’s remaining assets and liabilities measured at fair value on a recurring basis at December 31, 2021: Total Quoted Significant Significant (in thousands) Assets: Deferred compensation plan investments, current and non-current portion $ 31,333 $ 31,333 $ — $ — Total assets at fair value $ 31,333 $ 31,333 $ — $ — Liabilities: Deferred compensation plan investments, current and non-current portion $ 31,333 $ 31,333 $ — $ — Forward foreign currency exchange contracts 55 — 55 — Foreign currency hedge 283 — 283 — Interest rate swap agreement 4,054 — 4,054 — Total liabilities at fair value $ 35,725 $ 31,333 $ 4,392 $ — The following table summarizes the valuation of the Company’s remaining assets and liabilities measured at fair value on a recurring basis at June 30, 2021: Total Quoted Significant Significant (in thousands) Assets: Deferred compensation plan investments, current and non-current portion $ 31,168 $ 31,168 $ — $ — Foreign currency hedge 187 — 187 — Total assets at fair value $ 31,355 $ 31,168 $ 187 $ — Liabilities: Deferred compensation plan investments, current and non-current portion $ 31,168 $ 31,168 $ — $ — Forward foreign currency exchange contracts 5 — 5 — Interest rate swap agreement 6,280 — 6,280 — Total liabilities at fair value $ 37,453 $ 31,168 $ 6,285 $ —
Schedule of Changes in Fair Value of Contingent Considerations	The table below provides a summary of the changes in fair value of the Company's contingent considerations for the Intelisys earnout, which is measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the quarter and six months ended December 31, 2020. Quarter ended December 31, 2020 Six months ended December 31, 2020 Modern Communications & Cloud (in thousands) Fair value at beginning of period $ 46,850 $ 46,334 Payments (46,850) (46,850) Change in fair value of contingent consideration — 516 Fair value at end of period $ — $ —

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Dec. 31, 2021
Segment Reporting, Measurement Disclosures [Abstract]
Schedule of Financial Information by Segment	Selected financial information for each business segment is presented below: Quarter ended Six months ended December 31, December 31, 2021 2020 2021 2020 (in thousands) Sales: Specialty Technology Solutions $ 496,920 $ 455,248 $ 998,630 $ 864,026 Modern Communications & Cloud 367,431 355,649 723,032 704,212 $ 864,351 $ 810,897 $ 1,721,662 $ 1,568,238 Depreciation and amortization: Specialty Technology Solutions $ 2,897 $ 3,308 $ 5,867 $ 6,854 Modern Communications & Cloud 3,613 4,246 7,574 8,616 Corporate 719 794 1,438 1,589 $ 7,229 $ 8,348 $ 14,879 $ 17,059 Change in fair value of contingent consideration: Modern Communications & Cloud — — — 516 $ — $ — $ — $ 516 Operating income (loss): Specialty Technology Solutions $ 16,551 $ 7,161 $ 30,655 $ 8,845 Modern Communications & Cloud 14,894 11,813 31,201 20,529 Corporate (1) 53 (1,844) (30) (10,610) $ 31,498 $ 17,130 $ 61,826 $ 18,764 Capital expenditures: Specialty Technology Solutions $ (318) $ (281) $ (435) $ (564) Modern Communications & Cloud (1,236) (425) (2,210) (890) $ (1,554) $ (706) $ (2,645) $ (1,454) Sales by Geography Category: United States and Canada $ 774,573 $ 723,522 $ 1,546,215 $ 1,414,603 International 90,419 90,893 178,231 164,631 Less intercompany sales (641) (3,518) (2,784) (10,996) $ 864,351 $ 810,897 $ 1,721,662 $ 1,568,238 (1) For the quarter and six months ended December 31, 2021, the amounts shown above include divestiture costs. For the quarter and six months ended December 31, 2020, the amounts shown above include restructuring and divestiture costs.
Schedule of Reconciliation of Assets from Segment to Consolidated	December 31, 2021 June 30, 2021 (in thousands) Assets: Specialty Technology Solutions $ 867,909 $ 775,704 Modern Communications & Cloud 892,086 868,752 Corporate 10,875 27,228 $ 1,770,870 $ 1,671,684 Property and equipment, net by Geography Category: United States and Canada $ 35,480 $ 39,930 International 3,759 2,906 $ 39,239 $ 42,836

Leases (Tables)

Leases (Tables)	6 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Assets and Liabilities, Lessee	The following table presents amounts recorded on the Condensed Consolidated Balance Sheet related to operating leases at December 31, 2021 and June 30, 2021: December 31, 2021 June 30, 2021 Operating leases Balance Sheet location (in thousands) Operating lease right-of-use assets Other non-current assets $ 18,649 $ 19,246 Current operating lease liabilities Accrued expenses and other current liabilities $ 4,448 $ 4,284 Long-term operating lease liabilities Other long-term liabilities $ 15,659 $ 16,550
Lease, Cost	The following table presents amounts recorded in operating lease expense as part of selling general and administrative expenses on the Condensed Consolidated Income Statements during the quarters and six months ended December 31, 2021 and 2020. Operating lease costs contain immaterial amounts of short-term lease costs for leases with an initial term of 12 months or less. Quarter ended December 31, Six months ended December 31, 2021 2020 2021 2020 (in thousands) Operating lease cost $ 1,268 $ 1,332 $ 2,512 $ 2,687 Variable lease cost 328 273 650 583 $ 1,596 $ 1,605 $ 3,162 $ 3,270 Supplemental cash flow information related to the Company's operating leases for the six months ended December 31, 2021 and 2020 are presented in the table below: Six months ended December 31, 2021 2020 (in thousands) Cash paid for amounts in the measurement of lease liabilities $ 2,652 $ 2,602 Right-of-use assets obtained in exchange for lease obligations 1,782 — The weighted-average remaining lease term and discount rate at December 31, 2021 are presented in the table below: December 31, 2021 Weighted-average remaining lease term 4.80 years Weighted-average discount rate 4.01 %
Lessee, Operating Lease, Liability, Maturity	The following table presents the maturities of the Company's operating lease liabilities at December 31, 2021: Operating leases (in thousands) 2022 $ 2,708 2023 5,094 2024 4,592 2025 3,563 2026 3,029 Thereafter 3,346 Total future payments 22,332 Less: amounts representing interest 2,225 Present value of lease payments $ 20,107

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Schedule of Pre-acquisition Contingencies and Corresponding Indemnification Receivables	The table below summarizes the balances and line item presentation of Network1's pre-acquisition contingencies and corresponding indemnification receivables in the Company's Condensed Consolidated Balance Sheets at December 31, 2021 and June 30, 2021: December 31, 2021 June 30, 2021 Network1 (in thousands) Assets Prepaid expenses and other current assets $ 14 $ 16 Other non-current assets $ 3,584 $ 3,998 Liabilities Accrued expenses and other current liabilities $ 14 $ 16 Other long-term liabilities $ 3,584 $ 3,998

Restructuring (Tables)

Restructuring (Tables)	6 Months Ended
	Dec. 31, 2021
Restructuring and Related Activities [Abstract]
Restructuring and Severance Costs	The following table presents the restructuring and severance costs incurred for the quarter and six months ended December 31, 2020: Quarter ended December 31, 2020 Six months ended December 31, 2020 (in thousands) Severance and benefit costs $ 374 $ 8,499 Other 110 254 Total restructuring and other charges $ 484 $ 8,753
Schedule of Restructuring Activity	The following table represents activity for the six months ended December 31, 2021: Accrued Expenses (in thousands) Balance at June 30, 2021 $ 1,199 Charged to expense — Cash payments (943) Balance at December 31, 2021 $ 256

Discontinued Operations (Tables

Discontinued Operations (Tables)	6 Months Ended
	Dec. 31, 2021
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Components of Discontinuing Operations	Major components of net (income) loss from discontinued operations for the quarters and six months ended December 31, 2021 and 2020 were as follows: Quarter ended December 31, 2021 Quarter ended December 31, 2020 Six months ended December 31, 2021 Six months ended December 31, 2020 (in thousands) Net sales $ — $ 68,323 $ — $ 213,373 Cost of goods sold — 63,977 — 198,512 Gross profit — 4,346 — 14,861 Selling, general and administrative expenses — 6,378 — 17,291 Operating loss — (2,032) — (2,430) Interest expense, net — 269 — 394 (Gain) loss on disposal group (100) 23,122 (100) 33,808 Other (income) expense, net — (181) — 310 Income (loss) from discontinued operations before taxes 100 (25,242) 100 (36,942) Income tax expense — 13 — 17 Net income (loss) from discontinued operations $ 100 $ (25,255) $ 100 $ (36,959) There were no assets or liabilities classified as held-for-sale in the accompanying consolidated balance sheets at December 31, 2021 and June 30, 2021. There were no significant non-cash items in the cash flows from discontinued operations for the six months ended December 31, 2021. Significant non-cash operating items and capital expenditures reflected in the cash flows from discontinued operations for the six months ended December 31, 2020 were as follows: Six months ended December 31, 2020 (in thousands) Loss on disposal group $ 33,808 Capital expenditures $ (58)

Business and Summary of Signi_3

Business and Summary of Significant Accounting Policies (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2021USD ($)segment	Dec. 31, 2020USD ($)	Jun. 30, 2021USD ($)
Cash and Cash Equivalents [Line Items]
Number of operating segments | segment			2
Depreciation expense related to selling, general and administrative costs	$ 2,547	$ 3,097	$ 5,427	$ 6,494
Amortization of intangible assets	4,447	4,862	8,956	9,716
Product
Cash and Cash Equivalents [Line Items]
Depreciation expense reported as part of cost of goods sold	200	$ 400	500	$ 900
Bank Overdrafts
Cash and Cash Equivalents [Line Items]
Outstanding checks	$ 18,500		$ 18,500		$ 14,300

Trade Accounts and Notes Rece_3

Trade Accounts and Notes Receivable, Net (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Dec. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance		$ 19,341
Amounts Charged to Expense	$ 921	921	$ (180)
Write-offs	(1,340)
Other	(1,529)
Ending Balance	$ 17,393	$ 17,393

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Revenues	$ 864,351	$ 810,897	$ 1,721,662	$ 1,568,238
Hardware, software and cloud (excluding Intelisys)
Disaggregation of Revenue [Line Items]
Revenues	845,813	794,652	1,685,772	1,536,735
Intelisys connectivity and cloud
Disaggregation of Revenue [Line Items]
Revenues	18,538	16,245	35,890	31,503
Specialty Technology Solutions
Disaggregation of Revenue [Line Items]
Revenues	496,920	455,248	998,630	864,026
Specialty Technology Solutions | Hardware, software and cloud (excluding Intelisys)
Disaggregation of Revenue [Line Items]
Revenues	496,920	455,248	998,630	864,026
Specialty Technology Solutions | Intelisys connectivity and cloud
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Modern Communications & Cloud
Disaggregation of Revenue [Line Items]
Revenues	367,431	355,649	723,032	704,212
Modern Communications & Cloud | Hardware, software and cloud (excluding Intelisys)
Disaggregation of Revenue [Line Items]
Revenues	348,893	339,404	687,142	672,709
Modern Communications & Cloud | Intelisys connectivity and cloud
Disaggregation of Revenue [Line Items]
Revenues	$ 18,538	$ 16,245	$ 35,890	$ 31,503

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2021	Dec. 31, 2020
Numerator:
Net income from continuing operations	$ 23,152		$ 11,061		$ 45,225	$ 10,946
Net income (loss) from discontinued operations	100		(25,255)		100	(36,959)
Net income (loss)	$ 23,252	$ 22,073	$ (14,194)	$ (11,819)	$ 45,325	$ (26,013)
Denominator:
Weighted-average shares, basic (in shares)	25,585,000		25,395,000		25,549,000	25,378,000
Dilutive effect of share-based payments (in shares)	310,000		80,000		257,000	80,000
Weighted-average shares, diluted (in shares)	25,895,000		25,475,000		25,806,000	25,458,000
Net income from continuing operations per common share, basic (in dollars per share)	$ 0.91		$ 0.44		$ 1.77	$ 0.43
Net loss from discontinued operations per common share, basic (in dollars per share)	0		(1)		0	(1.46)
Net income (loss) per common share, basic (in dollars per share)	0.91		(0.56)		1.77	(1.03)
Net income from continuing operations per common share, diluted (in dollars per share)	0.89		0.43		1.75	0.43
Net loss from discontinued operations per common share, diluted (in dollars per share)	0		(0.99)		0	(1.45)
Net income (loss) per common share, diluted (in dollars per share)	$ 0.90		$ (0.56)		$ 1.76	$ (1.02)
Weighted average shares excluded from the computation of diluted earnings per share (in shares)	359,366		1,400,999		1,149,352	1,191,985

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Sep. 30, 2021	Jun. 30, 2021	Sep. 30, 2020	Jun. 30, 2020
Accumulated Other Comprehensive Loss [Line Items]
Stockholders' equity attributable to parent	$ 768,525	$ 682,139	$ 768,525	$ 682,139	$ 746,094	$ 731,191	$ 671,227	$ 678,246
Tax expense (benefit)	517	(94)	800	260
Foreign currency translation adjustment
Accumulated Other Comprehensive Loss [Line Items]
Stockholders' equity attributable to parent	(107,467)		(107,467)			(93,561)
Unrealized loss on hedged transaction, net of tax
Accumulated Other Comprehensive Loss [Line Items]
Stockholders' equity attributable to parent	(2,987)		(2,987)			(4,572)
Accumulated other comprehensive loss
Accumulated Other Comprehensive Loss [Line Items]
Stockholders' equity attributable to parent	$ (110,454)	$ (105,048)	$ (110,454)	$ (105,048)	$ (108,867)	$ (98,133)	$ (129,175)	$ (132,795)

Goodwill and Other Identifiab_3

Goodwill and Other Identifiable Intangible Assets (Changes in the Carrying Amount of Goodwill) (Details) $ in Thousands	6 Months Ended
	Dec. 31, 2021USD ($)
Goodwill [Roll Forward]
Balance at June 30, 2021	$ 218,877
Foreign currency translation adjustment	(2,122)
Balance at December 31, 2021	216,755
Specialty Technology Solutions
Goodwill [Roll Forward]
Balance at June 30, 2021	16,370
Foreign currency translation adjustment	0
Balance at December 31, 2021	16,370
Modern Communications & Cloud
Goodwill [Roll Forward]
Balance at June 30, 2021	202,507
Foreign currency translation adjustment	(2,122)
Balance at December 31, 2021	$ 200,385

Goodwill and Other Identifiab_4

Goodwill and Other Identifiable Intangible Assets (Net Identifiable Intangible Assets) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Finite-lived Intangible Assets [Roll Forward]
Balance at June 30, 2021			$ 104,860
Reductions
Amortization expense	$ (4,447)	$ (4,862)	(8,956)	$ (9,716)
Foreign currency translation adjustment			(859)
Balance at December 31, 2021	$ 95,045		$ 95,045

Short-Term Borrowings and Lon_3

Short-Term Borrowings and Long-Term Debt (Schedule of Debt) (Details) - USD ($)	Dec. 31, 2021	Jun. 30, 2021	Apr. 30, 2019
Debt Instrument [Line Items]
Current portion of long-term debt	$ 9,723,000	$ 7,843,000
Long-term debt	129,358,000	135,331,000
Borrowings under revolving credit facility	57,785,000	0
Total debt	196,866,000	143,174,000
Term Loan Facility
Debt Instrument [Line Items]
Long-term debt	125,625,000	131,250,000	$ 150,000,000
Multi-Currency Revolving Credit Facility
Debt Instrument [Line Items]
Borrowings under revolving credit facility	57,785,000	0
Mississippi Revenue Bond
Debt Instrument [Line Items]
Long-term debt	$ 3,733,000	$ 4,081,000

Short-Term Borrowings and Lon_4

Short-Term Borrowings and Long-Term Debt (Narrative) (Details)	Apr. 30, 2019USD ($)	Dec. 31, 2021USD ($)quarter	Dec. 31, 2020USD ($)	Jun. 30, 2021USD ($)
Debt Instrument [Line Items]
Long-term debt		$ 129,358,000		$ 135,331,000
Debt issuance costs, net		1,000,000
Mississippi Revenue Bond
Debt Instrument [Line Items]
Long-term debt		$ 3,733,000		$ 4,081,000
Percentage spread points on variable rate debt instrument		0.85%
Maximum time period of interest (in years)		10 years
Put option, exercisable period limitation		180 days
Debt instrument, anniversary, options exercisable, period		5 years
Percentage of principal due on exercise of put option		100.00%
Long-term debt, percentage bearing variable interest		0.95%		0.94%
Multi-Currency Revolving Credit Facility, Amended Credit Agreement
Debt Instrument [Line Items]
Line of credit facility, expiration period	5 years
Borrowing capacity under credit facility	$ 350,000,000
Line of credit facility, accordion feature, higher borrowing capacity option	250,000,000
Letters of credit outstanding		$ 0		$ 0
Percentage of capital stock or other equity interest pledged per credit agreement (up to)		65.00%
Debt issuance costs, gross	$ 1,100,000
Cash		$ 15,000,000
Debt instrument, covenant requirement, leverage ratio, EBITDA, number of quarters in measurement period | quarter		4
Line of credit facility, unused capacity, commitment fee percentage		0.20%
Average daily balance on revolving credit facility		$ 57,100,000	$ 70,400,000
Line of credit facility, remaining borrowing capacity		$ 292,200,000		350,000,000
Multi-Currency Revolving Credit Facility, Amended Credit Agreement | Minimum
Debt Instrument [Line Items]
Line of credit facility, unused capacity, commitment fee percentage		0.15%
Line of credit facility, interest coverage ratio		3
Multi-Currency Revolving Credit Facility, Amended Credit Agreement | Maximum
Debt Instrument [Line Items]
Line of credit facility, unused capacity, commitment fee percentage		0.30%
Line of credit facility, leverage ratio		3.50
Multi-Currency Revolving Credit Facility, Amended Credit Agreement | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Percentage spread points on variable rate debt instrument		1.25%
Multi-Currency Revolving Credit Facility, Amended Credit Agreement | London Interbank Offered Rate (LIBOR) | Minimum
Debt Instrument [Line Items]
Percentage spread points on variable rate debt instrument		1.00%
Multi-Currency Revolving Credit Facility, Amended Credit Agreement | London Interbank Offered Rate (LIBOR) | Maximum
Debt Instrument [Line Items]
Percentage spread points on variable rate debt instrument		1.75%
Multi-Currency Revolving Credit Facility, Amended Credit Agreement | Alternate Base Rate Loans
Debt Instrument [Line Items]
Percentage spread points on variable rate debt instrument		0.25%
Multi-Currency Revolving Credit Facility, Amended Credit Agreement | Alternate Base Rate Loans | Minimum
Debt Instrument [Line Items]
Percentage spread points on variable rate debt instrument		0.00%
Multi-Currency Revolving Credit Facility, Amended Credit Agreement | Alternate Base Rate Loans | Maximum
Debt Instrument [Line Items]
Percentage spread points on variable rate debt instrument		0.75%
Term Loan Facility
Debt Instrument [Line Items]
Line of credit facility, expiration period	5 years
Long-term debt	$ 150,000,000	$ 125,625,000		$ 131,250,000
Letter of Credit
Debt Instrument [Line Items]
Letters of credit outstanding	$ 50,000,000

Derivatives and Hedging Activ_3

Derivatives and Hedging Activities (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2021	Jun. 30, 2021	Apr. 30, 2019
Foreign exchange contracts
Derivative [Line Items]
Derivative, notional amount	$ 30.6	$ 27.9
Interest rate swap agreement
Derivative [Line Items]
Derivative, notional amount			$ 100
Interest Rate Swap, Maturing April 30, 2024
Derivative [Line Items]
Derivative, notional amount			50
Interest Rate Swap, Maturing April 30, 2026
Derivative [Line Items]
Derivative, notional amount			$ 50

Derivatives and Hedging Activ_4

Derivatives and Hedging Activities (Derivative Contracts and Changes in Underlying Value of the Foreign Currency Exposures) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
General Discussion of Derivative Instruments and Hedging Activities [Abstract]
Net foreign exchange derivative contract (gains) losses	$ (523)	$ 1,818	$ (2,175)	$ 1,913
Net foreign currency transactional and re-measurement (gains) losses	1,003	(1,437)	3,141	(1,094)
Net foreign currency exchange losses	$ 480	$ 381	$ 966	$ 819

Derivatives and Hedging Activ_5

Derivatives and Hedging Activities (Schedule of Cash Flow Hedge Included in Accumulated Other Comprehensive Income (Loss), Net of Income Taxes) (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2021	Dec. 31, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Net increase in accumulated other comprehensive income, net of tax	$ 1,172	$ 413	$ 519	$ 109	$ 1,585	$ 628
Interest rate swap agreement
Derivative Instruments, Gain (Loss) [Line Items]
Net interest expense recognized as a result of interest rate swap	579		565		1,157	1,125
Unrealized gain (loss) in fair value of interest rate swap	999		135		983	(268)
Net increase in accumulated other comprehensive income	1,578		700		2,140	857
Income tax effect	406		181		555	229
Net increase in accumulated other comprehensive income, net of tax	$ 1,172		$ 519		$ 1,585	$ 628

Derivatives and Hedging Activ_6

Derivatives and Hedging Activities (Derivative Instruments) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Jun. 30, 2021
Foreign currency hedge | Prepaid expenses and other current assets | Fair Value  of Derivatives Designated  as Hedge Instruments
Derivatives, Fair Value [Line Items]
Derivative assets	$ 0	$ 187
Foreign currency hedge | Prepaid expenses and other current assets | Fair Value  of Derivatives Not Designated as  Hedge Instruments
Derivatives, Fair Value [Line Items]
Derivative assets	0	0
Foreign currency hedge | Accrued expenses and other current liabilities | Fair Value  of Derivatives Designated  as Hedge Instruments
Derivatives, Fair Value [Line Items]
Derivative liabilities	283	0
Foreign currency hedge | Accrued expenses and other current liabilities | Fair Value  of Derivatives Not Designated as  Hedge Instruments
Derivatives, Fair Value [Line Items]
Derivative liabilities	0	0
Foreign exchange contracts | Accrued expenses and other current liabilities | Fair Value  of Derivatives Designated  as Hedge Instruments
Derivatives, Fair Value [Line Items]
Derivative liabilities	0	0
Foreign exchange contracts | Accrued expenses and other current liabilities | Fair Value  of Derivatives Not Designated as  Hedge Instruments
Derivatives, Fair Value [Line Items]
Derivative liabilities	55	5
Interest rate swap agreement | Other long-term liabilities | Fair Value  of Derivatives Designated  as Hedge Instruments
Derivatives, Fair Value [Line Items]
Derivative liabilities	4,054	6,280
Interest rate swap agreement | Other long-term liabilities | Fair Value  of Derivatives Not Designated as  Hedge Instruments
Derivatives, Fair Value [Line Items]
Derivative liabilities	$ 0	$ 0

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Schedule of Remaining Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) - Fair Value, Recurring - USD ($) $ in Thousands	Dec. 31, 2021	Jun. 30, 2021
Assets:
Deferred compensation plan investments, current and non-current portion	$ 31,333	$ 31,168
Total assets at fair value	31,333	31,355
Liabilities:
Deferred compensation plan investments, current and non-current portion	31,333	31,168
Total liabilities at fair value	35,725	37,453
Foreign exchange contracts
Liabilities:
Derivative liability	55	5
Foreign currency hedge
Assets:
Derivative asset		187
Liabilities:
Derivative liability	283
Interest rate swap agreement
Liabilities:
Derivative liability	4,054	6,280
Quoted prices in active markets (Level 1)
Assets:
Deferred compensation plan investments, current and non-current portion	31,333	31,168
Total assets at fair value	31,333	31,168
Liabilities:
Deferred compensation plan investments, current and non-current portion	31,333	31,168
Total liabilities at fair value	31,333	31,168
Quoted prices in active markets (Level 1) | Foreign exchange contracts
Liabilities:
Derivative liability	0	0
Quoted prices in active markets (Level 1) | Foreign currency hedge
Assets:
Derivative asset		0
Liabilities:
Derivative liability	0
Quoted prices in active markets (Level 1) | Interest rate swap agreement
Liabilities:
Derivative liability	0	0
Significant other observable inputs (Level 2)
Assets:
Deferred compensation plan investments, current and non-current portion	0	0
Total assets at fair value	0	187
Liabilities:
Deferred compensation plan investments, current and non-current portion	0	0
Total liabilities at fair value	4,392	6,285
Significant other observable inputs (Level 2) | Foreign exchange contracts
Liabilities:
Derivative liability	55	5
Significant other observable inputs (Level 2) | Foreign currency hedge
Assets:
Derivative asset		187
Liabilities:
Derivative liability	283
Significant other observable inputs (Level 2) | Interest rate swap agreement
Liabilities:
Derivative liability	4,054	6,280
Significant unobservable inputs (Level 3)
Assets:
Deferred compensation plan investments, current and non-current portion	0	0
Total assets at fair value	0	0
Liabilities:
Deferred compensation plan investments, current and non-current portion	0	0
Total liabilities at fair value	0	0
Significant unobservable inputs (Level 3) | Foreign exchange contracts
Liabilities:
Derivative liability	0	0
Significant unobservable inputs (Level 3) | Foreign currency hedge
Assets:
Derivative asset		0
Liabilities:
Derivative liability	0
Significant unobservable inputs (Level 3) | Interest rate swap agreement
Liabilities:
Derivative liability	$ 0	$ 0

Fair Value of Financial Instr_4

Fair Value of Financial Instruments (Schedule of Changes in Fair Value of Contingent Considerations) (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Dec. 31, 2020	Dec. 31, 2020
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Change in fair value of contingent consideration		$ 516
Modern Communications & Cloud | Significant unobservable inputs (Level 3)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value at beginning of period	$ 46,850	46,334
Payments	(46,850)	(46,850)
Change in fair value of contingent consideration	0
Fair value at end of period	$ 0	$ 0

Fair Value of Financial Instr_5

Fair Value of Financial Instruments (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Expense recognized due to change in fair value of contingent consideration			$ 516
Modern Communications & Cloud | Significant unobservable inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Expense recognized due to change in fair value of contingent consideration	$ 0
Modern Communications & Cloud | Intelisys connectivity and cloud | Significant unobservable inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Expense recognized due to change in fair value of contingent consideration		$ 500

Segment Information (Narrative)

Segment Information (Narrative) (Details)	6 Months Ended
	Dec. 31, 2021segment
Segment Reporting, Measurement Disclosures [Abstract]
Number of reportable segments	2

Segment Information (Financial

Segment Information (Financial Information by Segment) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Sales	$ 864,351	$ 810,897	$ 1,721,662	$ 1,568,238
Depreciation and amortization	7,229	8,348	14,879	17,059
Change in fair value of contingent consideration	0	0	0	516
Operating income	31,498	17,130	61,826	18,764
Capital expenditures	(1,554)	(706)	(2,645)	(1,454)
Corporate
Segment Reporting Information [Line Items]
Depreciation and amortization	719	794	1,438	1,589
Operating income	53	(1,844)	(30)	(10,610)
Reportable Geographical Components | United States and Canada
Segment Reporting Information [Line Items]
Sales	774,573	723,522	1,546,215	1,414,603
Reportable Geographical Components | International
Segment Reporting Information [Line Items]
Sales	90,419	90,893	178,231	164,631
Geography Eliminations
Segment Reporting Information [Line Items]
Sales	(641)	(3,518)	(2,784)	(10,996)
Specialty Technology Solutions
Segment Reporting Information [Line Items]
Sales	496,920	455,248	998,630	864,026
Capital expenditures	(318)	(281)	(435)	(564)
Specialty Technology Solutions | Operating Segments
Segment Reporting Information [Line Items]
Depreciation and amortization	2,897	3,308	5,867	6,854
Operating income	16,551	7,161	30,655	8,845
Modern Communications & Cloud
Segment Reporting Information [Line Items]
Sales	367,431	355,649	723,032	704,212
Change in fair value of contingent consideration	0	0	0	516
Capital expenditures	(1,236)	(425)	(2,210)	(890)
Modern Communications & Cloud | Operating Segments
Segment Reporting Information [Line Items]
Depreciation and amortization	3,613	4,246	7,574	8,616
Operating income	$ 14,894	$ 11,813	$ 31,201	$ 20,529

Segment Information (Assets By

Segment Information (Assets By Segment) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Jun. 30, 2021
Segment Reporting Information [Line Items]
Assets	$ 1,770,870	$ 1,671,684
Property and equipment, net by Geography Category	39,239	42,836
United States and Canada
Segment Reporting Information [Line Items]
Property and equipment, net by Geography Category	35,480	39,930
International
Segment Reporting Information [Line Items]
Property and equipment, net by Geography Category	3,759	2,906
Corporate | Continuing Operations
Segment Reporting Information [Line Items]
Assets	10,875	27,228
Specialty Technology Solutions | Operating Segments | Continuing Operations
Segment Reporting Information [Line Items]
Assets	867,909	775,704
Modern Communications & Cloud | Operating Segments | Continuing Operations
Segment Reporting Information [Line Items]
Assets	$ 892,086	$ 868,752

Leases - Narrative (Details)

Leases - Narrative (Details)	Dec. 31, 2021
Lessee, Lease, Description [Line Items]
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Property and equipment, net
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued expenses and other current liabilities
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other long-term liabilities
Minimum
Lessee, Lease, Description [Line Items]
Lease term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Lease term	10 years

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Jun. 30, 2021
Leases [Abstract]
Operating lease right-of-use assets	$ 18,649	$ 19,246
Current operating lease liabilities	4,448	4,284
Long-term operating lease liabilities	$ 15,659	$ 16,550
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other non-current assets	Other non-current assets
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued expenses and other current liabilities	Accrued expenses and other current liabilities
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other long-term liabilities	Other long-term liabilities

Leases - Lease Cost (Details)

Leases - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating lease cost	$ 1,268	$ 1,332	$ 2,512	$ 2,687
Variable lease cost	328	273	650	583
Total cost	$ 1,596	$ 1,605	$ 3,162	$ 3,270

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Cash paid for amounts in the measurement of lease liabilities	$ 2,652	$ 2,602
Right-of-use assets obtained in exchange for lease obligations	$ 1,782	$ 0

Leases - Weighted Average Remai

Leases - Weighted Average Remaining Term and Discount Rate (Details)	Dec. 31, 2021
Leases [Abstract]
Weighted-average remaining lease term	4 years 9 months 18 days
Weighted-average discount rate	4.01%

Leases - Maturities of Operatin

Leases - Maturities of Operating Lease Liabilities (Details) $ in Thousands	Dec. 31, 2021USD ($)
Leases [Abstract]
2022	$ 2,708
2023	5,094
2024	4,592
2025	3,563
2026	3,029
Thereafter	3,346
Total future payments	22,332
Less: amounts representing interest	2,225
Present value of lease payments	$ 20,107

Commitments and Contingencies_2

Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2021	Jun. 30, 2021
Network1
Other Commitments [Line Items]
Cash held in escrow	$ 3.7	$ 4

Commitments and Contingencies_3

Commitments and Contingencies (Summary of Pre-Acquisition Contingencies) (Details) - Network1 - USD ($) $ in Thousands	Dec. 31, 2021	Jun. 30, 2021
Assets
Prepaid expenses and other current assets	$ 14	$ 16
Other non-current assets	3,584	3,998
Liabilities
Accrued expenses and other current liabilities	14	16
Other long-term liabilities	$ 3,584	$ 3,998

Restructuring - Additional Info

Restructuring - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Restructuring and Related Activities [Abstract]
Restructuring and other charges	$ 0	$ 484,000	$ 0	$ 8,753,000

Restructuring - Summary of Rest

Restructuring - Summary of Restructuring and Severance Costs, By Segment (Details) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Restructuring Cost and Reserve [Line Items]
Charged to expense	$ 0	$ 484,000	$ 0	$ 8,753,000
Severance and benefit costs
Restructuring Cost and Reserve [Line Items]
Charged to expense		374,000		8,499,000
Other
Restructuring Cost and Reserve [Line Items]
Charged to expense		$ 110,000		$ 254,000

Restructuring - Restructuring A

Restructuring - Restructuring Activity (Details) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Restructuring Reserve [Roll Forward]
Balance, beginning of year			$ 1,199,000
Charged to expense	$ 0	$ 484,000	0	$ 8,753,000
Cash payments			(943,000)
Ending Balance	256,000		256,000
Restructuring reserve	$ 256,000		$ 256,000

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Discrete net tax benefit	$ 0.9		$ 0.9
Effective income tax rate	23.90%	29.70%	24.40%	29.80%
Foreign earnings repatriated	$ 17.4
Gross unrecognized tax benefits	1.2		$ 1.2		$ 1.1
Unrecognized tax benefits that would impact effective tax rate if recognized	0.9		0.9
Income tax penalties and interest accrued	$ 1.1		$ 1.1		$ 1.1

Discontinued Operations (Narrat

Discontinued Operations (Narrative) (Details) - Discontinued Operations, Held-for-sale or Disposed of by Sale - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2021	Dec. 31, 2020
Product Distribution In Various Countries
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Pre-tax loss on disposal group	$ (100)	$ 23,122	$ (10,700)	$ 88,900	$ (100)	$ 33,808
Gain (Loss) on disposal group					$ 100
Cash received sale of divestitures		$ 37,500				$ 37,500
Production in Latin America
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash payment received	$ 3,100

Discontinued Operations (Compon

Discontinued Operations (Component of Net Loss Discontinued Operations) (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2021	Dec. 31, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net income (loss) from discontinued operations	$ 100	$ (25,255)			$ 100	$ (36,959)
Discontinued Operations, Held-for-sale or Disposed of by Sale | Product Distribution In Various Countries
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net sales	0	68,323			0	213,373
Cost of goods sold	0	63,977			0	198,512
Gross profit	0	4,346			0	14,861
Selling, general and administrative expenses	0	6,378			0	17,291
Operating loss	0	(2,032)			0	(2,430)
Interest expense, net	0	269			0	394
(Gain) loss on disposal group	(100)	23,122	$ (10,700)	$ 88,900	(100)	33,808
Other (income) expense, net	0	(181)			0	310
Income (loss) from discontinued operations before taxes	100	(25,242)			100	(36,942)
Income tax expense	0	13			0	17
Net income (loss) from discontinued operations	$ 100	$ (25,255)			$ 100	$ (36,959)

Discontinued Operations (Signif

Discontinued Operations (Significant Non-cash Operating Items) (Details) - Discontinued Operations, Held-for-sale or Disposed of by Sale - Product Distribution In Various Countries - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2021	Dec. 31, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
(Gain) loss on disposal group	$ (100)	$ 23,122	$ (10,700)	$ 88,900	$ (100)	$ 33,808
Capital expenditures		$ (58)