Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Feb. 14, 2014 | Jun. 28, 2013 | |
Document And Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Entity Registrant Name | 'INSIGHT ENTERPRISES INC | ' | ' |
Entity Central Index Key | '0000932696 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 41,510,512 | ' |
Entity Public Float | ' | ' | $741,901,027 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $126,817 | $152,119 |
Accounts receivable, net | 1,257,910 | 1,371,356 |
Inventories | 97,268 | 100,896 |
Inventories not available for sale | 38,705 | 31,249 |
Deferred income taxes | 16,436 | 16,387 |
Other current assets | 57,528 | 29,543 |
Total current assets | 1,594,664 | 1,701,550 |
Property and equipment, net | 132,820 | 143,513 |
Goodwill | 26,257 | 26,257 |
Intangible assets, net | 35,765 | 47,405 |
Deferred income taxes | 58,651 | 64,013 |
Other assets | 19,561 | 18,765 |
Total assets | 1,867,718 | 2,001,503 |
Current liabilities: | ' | ' |
Accounts payable | 850,951 | 982,611 |
Accrued expenses and other current liabilities | 156,491 | 158,621 |
Current portion of long-term debt | 217 | 602 |
Deferred revenue | 44,146 | 40,287 |
Total current liabilities | 1,051,805 | 1,182,121 |
Long-term debt | 66,949 | 80,000 |
Deferred income taxes | 443 | 2,312 |
Other liabilities | 31,603 | 31,779 |
Total liabilities | 1,150,800 | 1,296,212 |
Commitments and contingencies | ' | ' |
Stockholders' equity: | ' | ' |
Preferred stock, $0.01 par value, 3,000 shares authorized; no shares issued | ' | ' |
Common stock, $0.01 par value, 100,000 shares authorized; 42,023 and 44,594 shares issued and outstanding in 2013 and 2012, respectively | 420 | 446 |
Additional paid-in capital | 348,703 | 369,300 |
Retained earnings | 353,854 | 315,888 |
Accumulated other comprehensive income - foreign currency translation adjustments | 13,941 | 19,657 |
Total stockholders' equity | 716,918 | 705,291 |
Total liabilities and stockholders' equity | $1,867,718 | $2,001,503 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Per Share data, unless otherwise specified | ||
Statement Of Financial Position [Abstract] | ' | ' |
Preferred stock, par value | $0.01 | $0.01 |
Preferred stock, shares authorized | 3,000 | 3,000 |
Preferred stock, shares issued | 0 | 0 |
Common stock, par value | $0.01 | $0.01 |
Common stock, shares authorized | 100,000 | 100,000 |
Common stock, shares issued | 42,023 | 44,594 |
Common stock, shares outstanding | 42,023 | 44,594 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Statement [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | $1,395,158 | $1,151,020 | $1,416,547 | $1,181,622 | $1,346,675 | $1,181,409 | $1,529,175 | $1,244,182 | $5,144,347 | $5,301,441 | $5,287,228 |
Costs of goods sold | 1,214,003 | 982,352 | 1,225,620 | 1,023,485 | 1,166,282 | 1,013,784 | 1,327,889 | 1,073,810 | 4,445,460 | 4,581,765 | 4,578,071 |
Gross profit | 181,155 | 168,668 | 190,927 | 158,137 | 180,393 | 167,625 | 201,286 | 170,372 | 698,887 | 719,676 | 709,157 |
Operating expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Selling and administrative expenses | 140,799 | 139,965 | 143,158 | 140,988 | 141,952 | 136,259 | 143,601 | 143,394 | 564,910 | 565,206 | 556,689 |
Severance and restructuring expenses | 4,413 | 2,424 | 3,171 | 2,732 | 1,861 | 705 | 2,377 | 1,374 | 12,740 | 6,317 | 5,085 |
Earnings from operations | 35,943 | 26,279 | 44,598 | 14,417 | 36,580 | 30,661 | 55,308 | 25,604 | 121,237 | 148,153 | 147,383 |
Non-operating (income) expense: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest income | -259 | -322 | -337 | -312 | -340 | -489 | -288 | -351 | -1,230 | -1,468 | -1,686 |
Interest expense | 1,560 | 1,603 | 1,556 | 1,618 | 1,351 | 1,702 | 1,490 | 1,558 | 6,337 | 6,101 | 6,927 |
Gain on bargain purchase | ' | ' | ' | ' | ' | ' | ' | -2,022 | ' | -2,022 | ' |
Net foreign currency exchange loss (gain) | 445 | 474 | -886 | 161 | 409 | 426 | -470 | -828 | 194 | -463 | -1,136 |
Other expense, net | 332 | 364 | 342 | 374 | 385 | 319 | 389 | 244 | 1,412 | 1,337 | 1,589 |
Earnings before income taxes | 33,865 | 24,160 | 43,923 | 12,576 | 34,775 | 28,703 | 54,187 | 27,003 | 114,524 | 144,668 | 141,689 |
Income tax expense | 13,458 | 9,135 | 17,410 | 3,500 | 14,008 | 9,349 | 18,937 | 9,611 | 43,503 | 51,905 | 41,454 |
Net earnings | $20,407 | $15,025 | $26,513 | $9,076 | $20,767 | $19,354 | $35,250 | $17,392 | $71,021 | $92,763 | $100,235 |
Net earnings per share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic | $0.48 | $0.35 | $0.62 | $0.20 | $0.47 | $0.43 | $0.79 | $0.39 | $1.65 | $2.09 | $2.20 |
Diluted | $0.48 | $0.35 | $0.62 | $0.20 | $0.46 | $0.43 | $0.79 | $0.39 | $1.64 | $2.07 | $2.18 |
Shares used in per share calculations: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic | ' | ' | ' | ' | ' | ' | ' | ' | 43,012 | 44,413 | 45,474 |
Diluted | ' | ' | ' | ' | ' | ' | ' | ' | 43,289 | 44,834 | 46,021 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Statement Of Income And Comprehensive Income [Abstract] | ' | ' | ' |
Net earnings | $71,021 | $92,763 | $100,235 |
Other comprehensive income (loss), net of tax: | ' | ' | ' |
Foreign currency translation adjustments | -5,716 | 6,759 | -4,984 |
Total comprehensive income | $65,305 | $99,522 | $95,251 |
Consolidated_Statements_of_Sto
Consolidated Statements of Stockholders' Equity (USD $) | Total | Common Stock [Member] | Treasury Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Other Comprehensive Income [Member] | Retained Earnings [Member] |
In Thousands | ||||||
Beginning Balance at Dec. 31, 2010 | $544,971 | $463 | ' | $377,277 | $17,882 | $149,349 |
Beginning Balance, Shares at Dec. 31, 2010 | ' | 46,325 | ' | ' | ' | ' |
Issuance of common stock under employee stock plans, net of shares withheld for payroll taxes, Value | -2,660 | 5 | ' | -2,665 | ' | ' |
Issuance of common stock under employee stock plans, net of shares withheld for payroll taxes, Shares | ' | 491 | ' | ' | ' | ' |
Stock-based compensation expense | 7,919 | ' | ' | 7,919 | ' | ' |
Tax benefit from stock-based compensation | 1,351 | ' | ' | 1,351 | ' | ' |
Repurchase of treasury stock, Amount | -50,000 | ' | -50,000 | ' | ' | ' |
Repurchase of treasury stock, Shares | ' | ' | -2,897 | ' | ' | ' |
Retirement of treasury stock, Amount | ' | -29 | 50,000 | -23,512 | ' | -26,459 |
Retirement of treasury stock, Shares | ' | -2,897 | 2,897 | ' | ' | ' |
Foreign currency translation adjustment, net of tax | -4,984 | ' | ' | ' | -4,984 | ' |
Net earnings | 100,235 | ' | ' | ' | ' | 100,235 |
Ending Balance at Dec. 31, 2011 | 596,832 | 439 | ' | 360,370 | 12,898 | 223,125 |
Ending Balance, Shares at Dec. 31, 2011 | ' | 43,919 | ' | ' | ' | ' |
Issuance of common stock under employee stock plans, net of shares withheld for payroll taxes, Value | -647 | 7 | ' | -654 | ' | ' |
Issuance of common stock under employee stock plans, net of shares withheld for payroll taxes, Shares | ' | 675 | ' | ' | ' | ' |
Stock-based compensation expense | 8,548 | ' | ' | 8,548 | ' | ' |
Tax benefit from stock-based compensation | 1,036 | ' | ' | 1,036 | ' | ' |
Foreign currency translation adjustment, net of tax | 6,759 | ' | ' | ' | 6,759 | ' |
Net earnings | 92,763 | ' | ' | ' | ' | 92,763 |
Ending Balance at Dec. 31, 2012 | 705,291 | 446 | ' | 369,300 | 19,657 | 315,888 |
Ending Balance, Shares at Dec. 31, 2012 | ' | 44,594 | ' | ' | ' | ' |
Issuance of common stock under employee stock plans, net of shares withheld for payroll taxes, Value | -3,094 | 4 | ' | -3,098 | ' | ' |
Issuance of common stock under employee stock plans, net of shares withheld for payroll taxes, Shares | ' | 429 | ' | ' | ' | ' |
Stock-based compensation expense | 6,430 | ' | ' | 6,430 | ' | ' |
Tax benefit from stock-based compensation | 760 | ' | ' | 760 | ' | ' |
Repurchase of treasury stock, Amount | -57,774 | ' | -57,774 | ' | ' | ' |
Repurchase of treasury stock, Shares | ' | ' | -3,000 | ' | ' | ' |
Retirement of treasury stock, Amount | ' | -30 | 57,774 | -24,689 | ' | -33,055 |
Retirement of treasury stock, Shares | ' | -3,000 | 3,000 | ' | ' | ' |
Foreign currency translation adjustment, net of tax | -5,716 | ' | ' | ' | -5,716 | ' |
Net earnings | 71,021 | ' | ' | ' | ' | 71,021 |
Ending Balance at Dec. 31, 2013 | $716,918 | $420 | ' | $348,703 | $13,941 | $353,854 |
Ending Balance, Shares at Dec. 31, 2013 | ' | 42,023 | ' | ' | ' | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash flows from operating activities: | ' | ' | ' |
Net earnings | $71,021 | $92,763 | $100,235 |
Adjustments to reconcile net earnings to net cash provided by operating activities: | ' | ' | ' |
Depreciation and amortization | 41,544 | 41,177 | 39,139 |
Provision for losses on accounts receivable | 4,696 | 4,195 | 4,267 |
Write-downs of inventories | 3,719 | 3,089 | 6,830 |
Write-off of property and equipment | 606 | 596 | 1,390 |
Non-cash stock-based compensation | 6,430 | 8,548 | 7,919 |
Gain on bargain purchase | ' | -2,022 | ' |
Excess tax benefit from employee gains on stock-based compensation | -909 | -1,966 | -1,809 |
Deferred income taxes | 3,445 | 8,978 | 4,552 |
Changes in assets and liabilities: | ' | ' | ' |
Decrease (increase) in accounts receivable | 111,545 | -141,182 | -78,883 |
(Increase) decrease in inventories | -7,391 | 27,477 | -8,247 |
(Increase) decrease in other current assets | -30,650 | -5,816 | 25,895 |
Decrease (increase) in other assets | 735 | 9,207 | -12,107 |
(Decrease) increase in accounts payable | -130,657 | 56,442 | 45,205 |
Increase (decrease) in deferred revenue | 1,197 | -11,196 | -17,926 |
Increase (decrease) in accrued expenses and other liabilities | 735 | -22,848 | -735 |
Net cash provided by operating activities | 76,066 | 67,442 | 115,725 |
Cash flows from investing activities: | ' | ' | ' |
Acquisition, net of cash acquired | ' | -3,831 | -13,769 |
Purchases of property and equipment | -19,024 | -30,152 | -27,093 |
Net cash used in investing activities | -19,024 | -33,983 | -40,862 |
Cash flows from financing activities: | ' | ' | ' |
Borrowings on senior revolving credit facility | 835,328 | 803,953 | 1,314,500 |
Repayments on senior revolving credit facility | -851,828 | -885,953 | -1,289,500 |
Borrowings on accounts receivable securitization financing facility | 875,000 | 581,000 | 90,000 |
Repayments on accounts receivable securitization financing facility | -872,000 | -534,000 | -90,000 |
Payments on capital lease obligation | -671 | -1,017 | -997 |
Net (repayments) borrowings under inventory financing facility | -1,581 | 22,900 | -41,179 |
Payment of deferred financing fees | ' | -2,777 | ' |
Proceeds from sales of common stock under employee stock plans | ' | 2,641 | 37 |
Excess tax benefit from employee gains on stock-based compensation | 909 | 1,966 | 1,809 |
Payment of payroll taxes on stock-based compensation through shares withheld | -3,094 | -3,288 | -2,697 |
Repurchases of common stock | -57,774 | ' | -50,000 |
Net cash used in financing activities | -75,711 | -14,575 | -68,027 |
Foreign currency exchange effect on cash balances | -6,633 | 4,899 | -2,263 |
(Decrease) increase in cash and cash equivalents | -25,302 | 23,783 | 4,573 |
Cash and cash equivalents at beginning of year | 152,119 | 128,336 | 123,763 |
Cash and cash equivalents at end of year | 126,817 | 152,119 | 128,336 |
Supplemental disclosures of cash flow information: | ' | ' | ' |
Cash paid during the year for interest | 2,700 | 3,265 | 3,706 |
Cash paid during the year for income taxes, net of refunds | $37,872 | $43,936 | $28,960 |
Operations_and_Summary_of_Sign
Operations and Summary of Significant Accounting Policies | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Operations and Summary of Significant Accounting Policies | ' | ||||||||||||
(1) Operations and Summary of Significant Accounting Policies | |||||||||||||
Description of Business | |||||||||||||
We are a leading worldwide information technology (“IT”) provider of hardware, software and services solutions to businesses and public sector clients in North America, Europe, the Middle East, Africa and Asia-Pacific. The Company is organized in the following three operating segments, which are primarily defined by their related geographies: | |||||||||||||
Operating Segment | Geography | ||||||||||||
North America | United States and Canada | ||||||||||||
EMEA | Europe, Middle East and Africa | ||||||||||||
APAC | Asia-Pacific | ||||||||||||
Currently, our offerings in North America and select countries in EMEA include IT hardware, software and services. Our offerings in the remainder of our EMEA segment and in APAC are almost entirely software and select software-related services. | |||||||||||||
Acquisitions | |||||||||||||
On October 1, 2011, we acquired Ensynch, Incorporated, (“Ensynch”), a Tempe, Arizona-based professional services firm with multiple Microsoft Gold competencies across the complete Microsoft solution set, including cloud migration and management, for a cash purchase price of $13,769,000, net of cash acquired. | |||||||||||||
On February 1, 2012, we acquired Inmac GmbH and Micro Warehouse BV (“Inmac”), a broad portfolio business-to-business hardware reseller based in Frankfurt, Germany and Amsterdam, Netherlands servicing clients in Western Europe, for a cash purchase price, net of cash acquired, of $3,831,000. Our EMEA operating segment recognized a non-operating gain on bargain purchase of $2,022,000 during 2012 as the fair value of the net assets acquired exceeded the purchase price. Prior to recognizing the gain on bargain purchase, we reassessed the assets acquired and liabilities assumed in the acquisition. | |||||||||||||
Principles of Consolidation and Presentation | |||||||||||||
The consolidated financial statements include the accounts of Insight Enterprises, Inc. and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. References to “the Company,” “Insight,” “we,” “us,” “our” and other similar words refer to Insight Enterprises, Inc. and its consolidated subsidiaries, unless the context suggests otherwise. | |||||||||||||
Use of Estimates | |||||||||||||
The preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements. Additionally, these estimates and assumptions affect the reported amounts of net sales and expenses during the reporting period. Actual results could differ from those estimates. On an ongoing basis, we evaluate our estimates, including those related to sales recognition, anticipated achievement levels under partner funding programs, assumptions related to stock-based compensation valuation, allowances for doubtful accounts, valuation of inventories, litigation-related obligations, valuation allowances for deferred tax assets and impairment of long-lived assets, including purchased intangibles and goodwill, if indicators of potential impairment exist. | |||||||||||||
Cash and Cash Equivalents | |||||||||||||
We consider all highly liquid investments with maturities at the date of purchase of three months or less to be cash equivalents. | |||||||||||||
Book overdrafts represent the amount by which outstanding checks issued, but not yet presented to our banks for disbursement, exceed balances on deposit in applicable bank accounts and a legal right of offset with our positive cash balances in other financial institution accounts does not exist. Our book overdrafts, which are not directly linked to a credit facility or other bank overdraft arrangement, do not result in an actual bank financing, but rather constitute normal unpaid trade payables at the end of a reporting period. These amounts are included within our accounts payable balance in our consolidated balance sheets. The changes in these book overdrafts are included within the changes in accounts payable line item as a component of cash flows from operating activities in our consolidated statements of cash flows. | |||||||||||||
Allowance for Doubtful Accounts | |||||||||||||
We establish an allowance for doubtful accounts using estimated losses on accounts receivable based on evaluation of the aging of the receivables, historical write-offs and the current economic environment. We write off individual accounts against the reserve when we become aware of a client’s or vendor’s inability to meet its financial obligations, such as in the case of bankruptcy filings, or deterioration in the client’s or vendor’s operating results or financial position. | |||||||||||||
Inventories | |||||||||||||
We state inventories, principally purchased IT hardware, at the lower of weighted average cost (which approximates cost under the first-in, first-out method) or market. We evaluate inventories for excess, obsolescence or other factors that may render inventories unmarketable at normal margins. Write-downs are recorded so that inventories reflect the approximate net realizable value and take into account contractual provisions with our partners governing price protection, stock rotation and return privileges relating to obsolescence. | |||||||||||||
Inventories not available for sale relate to product sales transactions in which we are warehousing the product and will be deploying the product to clients’ designated locations subsequent to period-end. Additionally, we may perform services on a portion of the product prior to shipment to our clients and will be paid a fee for doing so. Although these product contracts are non-cancelable with customary credit terms beginning the date the inventories are segregated in our warehouse and invoiced to the client and the warranty periods begin on the date of invoice, these transactions do not meet the sales recognition criteria under GAAP. Therefore, we do not record sales and the inventories are classified as “Inventories not available for sale” on our consolidated balance sheet until the product is delivered. If clients remit payment before we deliver product to them, we record the payments received as “deferred revenue” on our consolidated balance sheet until such time as the product is delivered. | |||||||||||||
Property and Equipment | |||||||||||||
We record property and equipment at cost. We capitalize major improvements and betterments, while maintenance, repairs and minor replacements are expensed as incurred. Depreciation or amortization is provided using the straight-line method over the following estimated economic lives of the assets: | |||||||||||||
Estimated Economic Life | |||||||||||||
Leasehold improvements | Shorter of underlying lease | ||||||||||||
term or asset life | |||||||||||||
Furniture and fixtures | 2–7 years | ||||||||||||
Equipment | 3–5 years | ||||||||||||
Software | 3–10 years | ||||||||||||
Buildings | 29 years | ||||||||||||
Costs incurred to develop internal-use software during the application development stage, including capitalized interest, are recorded in property and equipment at cost. External direct costs of materials and services consumed in developing or obtaining internal-use computer software and payroll and payroll-related costs for teammates who are directly associated with and who devote time to internal-use computer software development projects, to the extent of the time spent directly on the project and specific to application development, are capitalized. | |||||||||||||
Our capital lease assets (see Note 6) are amortized on a straight-line basis over the lease term. The related amortization expense is included in selling and administrative expenses in our consolidated statements of operations. | |||||||||||||
Reviews are regularly performed to determine whether facts and circumstances exist which indicate that the useful life is shorter than originally estimated or the carrying amount of assets may not be recoverable. When an indication exists that the carrying amount of long-lived assets may not be recoverable, we assess the recoverability of our assets by comparing the projected undiscounted net cash flows associated with the related asset or group of assets over their remaining lives against their respective carrying amounts. Such impairment test is based on the lowest level for which identifiable cash flows are largely independent of the cash flows of other groups of assets and liabilities. Impairment, if any, is based on the excess of the carrying amount over the estimated fair value of those assets. | |||||||||||||
Goodwill | |||||||||||||
Goodwill is recorded when the purchase price paid for an acquisition exceeds the estimated fair value of net identified tangible and intangible assets acquired. Goodwill is tested for impairment at the reporting unit level on an annual basis in the fourth quarter and between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value of the reporting unit below its carrying value. We may first perform a qualitative assessment to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. If it is concluded that this is the case, it is necessary to perform a quantitative two-step goodwill impairment test. Otherwise, the two-step goodwill impairment test is not required. The quantitative two-step goodwill impairment review process compares the fair value of the reporting unit in which goodwill resides to its carrying value. The Company has three reporting units, which are the same as our operating segments. Multiple valuation techniques can be used to assess the fair value of the reporting unit. All of these techniques include the use of estimates and assumptions that are inherently uncertain. Changes in these estimates and assumptions could materially affect the determination of fair value or goodwill impairment, or both. | |||||||||||||
Intangible Assets | |||||||||||||
We amortize intangible assets acquired in business combinations using the straight-line method over the following estimated economic lives of the intangible assets from the date of acquisition: | |||||||||||||
Estimated Economic Life | |||||||||||||
Customer relationships | 2 –11 years | ||||||||||||
Other | 9 months –3 years | ||||||||||||
We regularly perform reviews to determine if facts and circumstances exist which indicate that the useful lives of our long-lived assets are shorter than originally estimated or the carrying amount of these assets may not be recoverable. When an indication exists that the carrying amount of intangible assets may not be recoverable, we assess the recoverability of our assets by comparing the projected undiscounted net cash flows associated with the related asset or group of assets over their remaining lives against their respective carrying amounts. Such impairment test is based on the lowest level for which identifiable cash flows are largely independent of the cash flows of other groups of assets and liabilities. Impairment, if any, is based on the excess of the carrying amount over the estimated fair value of those assets. | |||||||||||||
Trade Credits | |||||||||||||
Trade credit liabilities arise from aged unclaimed credit memos, duplicate payments, payments for returned product or overpayments made to us by our clients, and, to a lesser extent, from goods received by us from a supplier for which we were never invoiced. Trade credit liabilities are included in accrued expenses and other current liabilities in our consolidated balance sheet. We derecognize the liability if and only if it has been extinguished, upon either (1) our payment of the liability to relieve our obligation or (2) our legal release from the related obligation. During the years ended December 31, 2013, 2012 and 2011, $2,379,000, $4,492,000 and $4,292,000, respectively, was recorded as a reduction of costs of goods sold as result of the negotiated settlement or other legal release of trade credits. | |||||||||||||
Self Insurance | |||||||||||||
We are self-insured in the U.S. for medical insurance up to certain annual stop-loss limits and workers’ compensation claims up to certain deductible limits. We establish reserves for claims, both reported and incurred but not reported, using currently available information as well as our historical claims experience. | |||||||||||||
Foreign Currencies | |||||||||||||
We use the U.S. dollar as our reporting currency. The functional currencies of our significant foreign subsidiaries are generally the local currencies. Accordingly, assets and liabilities of the subsidiaries are translated into U.S. dollars at the exchange rate in effect at the balance sheet dates. Income and expense items are translated at the average exchange rate for each month within the year. The resulting translation adjustments are recorded directly in accumulated other comprehensive income as a separate component of stockholders’ equity. Net foreign currency transaction gains/losses, including transaction gains/losses on intercompany balances that are not of a long-term investment nature and non-functional currency cash balances, are reported as a separate component of non-operating (income) expense in our consolidated statements of operations. | |||||||||||||
Derivative Financial Instruments | |||||||||||||
We enter into forward foreign exchange contracts to mitigate the risk of non-functional currency monetary assets and liabilities on our consolidated financial statements. These forward contracts are not designated as hedge instruments. The fair value of all derivative assets and liabilities are recorded gross in the other current assets and accrued expenses and other current liabilities sections of the balance sheet. Gains/losses are recorded net in non-operating (income) expense in our consolidated statements of operations. | |||||||||||||
Treasury Stock | |||||||||||||
We record repurchases of our common stock as treasury stock at cost. We also record the subsequent retirement of these treasury shares at cost. The excess of the cost of the shares retired over their par value is allocated between additional paid-in capital and retained earnings. The amount recorded as a reduction of paid-in capital is based on the excess of the average original issue price of the shares over par value. The remaining amount is recorded as a reduction of retained earnings. | |||||||||||||
Sales Recognition | |||||||||||||
Sales are recognized when title and risk of loss are passed to the client, there is persuasive evidence of an arrangement for sale, delivery has occurred and/or services have been rendered, the sales price is fixed or determinable and collectibility is reasonably assured. Our standard sales terms are F.O.B. shipping point or equivalent, at which time title and risk of loss have passed to the client. However, because we either (i) have a general practice of covering client losses while products are in transit despite title and risk of loss contractually transferring at the point of shipment or (ii) have specifically stated F.O.B. destination contractual terms with the client, delivery is not deemed to have occurred until the point in time when the product is received by the client. | |||||||||||||
We make provisions for estimated product returns that we expect to occur under our return policy based upon historical return rates. Our manufacturers warrant most of the products we market, and it is our policy to request that clients return their defective products directly to the manufacturer for warranty service. On selected products, and for selected client service reasons, we may accept returns directly from the client and then either credit the client or ship a replacement product. We generally offer a limited 15- to 30-day return policy for unopened products and certain opened products, which are consistent with manufacturers’ terms; however, for some products we may charge restocking fees. Products returned opened are processed and returned to the manufacturer or partner for repair, replacement or credit to us. We resell most unopened products returned to us. Subject to some manufacturers’ restrictions, products that cannot be returned to the manufacturer for warranty processing, but are in working condition, are sold to inventory liquidators, to end users as “previously sold” or “used” products, or through other channels to reduce our losses from returned products. | |||||||||||||
We record the freight we bill to our clients as net sales and the related freight costs we pay as costs of goods sold. We report sales net of any sales-based taxes assessed by governmental authorities that are imposed on and concurrent with sales transactions. | |||||||||||||
Revenue is recognized from software sales when clients acquire the right to use or copy software under license, but in no case prior to the commencement of the term of the initial software license agreement, provided that all other revenue recognition criteria have been met (i.e., evidence of the arrangement exists, the fee is fixed or determinable and collectibility of the fee is probable). | |||||||||||||
The sale of hardware and software products may also include the provision of services, and the associated contracts may contain multiple elements or non-standard terms and conditions. Services that are performed by us in conjunction with hardware and software sales that are completed in our facilities prior to shipment of the product are recognized upon delivery, when title passes to the client, for the hardware sale. Net sales of services that are performed at client locations are often service-only contracts and are recorded as sales when the services are performed. If the services are performed at a client location in conjunction with a hardware, software or other services sale, we recognize net sales for each portion of the overall arrangement fee that is attributable to the items as they are delivered or the services are performed. At the inception of the arrangement, the total consideration for the arrangement is allocated to all deliverables using the relative selling price method. The relative selling price method allocates any discount in the arrangement proportionately to each deliverable on the basis of each deliverable’s selling price. We determine our best estimate of selling price in a manner that is consistent with that used to determine the price to sell the deliverable on a standalone basis. The revenue allocation is based on vendor-specific objective evidence of fair value of the products. We currently do not have any material instances in which we account for revenue from multiple element arrangements when vendor-specific evidence does not exist. If vendor-specific objective evidence were not available, we would utilize third-party evidence to allocate the selling price. If neither vendor-specific objective evidence nor third-party evidence were available, estimated selling price would be used for allocation purposes. | |||||||||||||
We sell certain third-party service contracts and software maintenance or subscription products for which we are not the primary obligor. These sales do not meet the criteria for gross sales recognition, and thus are recorded on a net sales recognition basis. As we enter into contracts with third-party service providers or vendors and our clients, we evaluate whether the subsequent sales of such services should be recorded as gross sales or net sales. We determine whether we act as a principal in the transaction and assume the risks and rewards of ownership or if we are simply acting as an agent or broker. Under gross sales recognition, the selling price is recorded in sales and our cost to the third-party service provider or vendor is recorded in costs of goods sold. Under net sales recognition, the cost to the third-party service provider or vendor is recorded as a reduction to sales, resulting in net sales equal to the gross profit on the transaction, and there are no costs of goods sold. | |||||||||||||
We recognize revenue for sales of services ratably over the time period over which the service will be provided if there is no discernible pattern of recognition of the cost to perform the service. Billings for such services that are made in advance of the related revenue recognized are recorded as deferred revenue and recognized as revenue ratably over the billing coverage period. Revenue from certain arrangements that allow for the use of a product or service over a period of time without taking possession of software are also accounted for ratably over the time period over which the service will be provided. | |||||||||||||
We recognize revenue for professional services engagements that are on a time and materials basis based upon hours incurred as the services are performed and amounts are earned. | |||||||||||||
Additionally, we sell certain professional services contracts on a fixed fee basis. Revenues for fixed fee professional services contracts are recognized based on the ratio of costs incurred to total estimated costs. Net sales for these service contracts are not a significant portion of our consolidated net sales. | |||||||||||||
Costs of Goods Sold | |||||||||||||
Costs of goods sold include product costs, direct costs incurred associated with delivering services, outbound and inbound freight costs and provisions for inventory reserves. These costs are reduced by provisions for supplier discounts and certain payments and credits received from partners, as described under “Partner Funding” below. | |||||||||||||
Selling and Administrative Expenses | |||||||||||||
Selling and administrative expenses include salaries and wages, bonuses and incentives, stock-based compensation expense, employee-related expenses, facility-related expenses, marketing and advertising expense, reduced by certain payments and credits received from partners related to shared marketing expense programs, as described under “Partner Funding” below, depreciation of property and equipment, professional fees, amortization of intangible assets, provisions for losses on accounts receivable and other operating expenses. | |||||||||||||
Partner Funding | |||||||||||||
We receive payments and credits from partners, including consideration pursuant to volume sales incentive programs, volume purchase incentive programs and shared marketing expense programs. Partner funding received pursuant to volume sales incentive programs is recognized as it is earned as a reduction to costs of goods sold. Partner funding received pursuant to volume purchase incentive programs is allocated as a reduction to inventories based on the applicable incentives earned from each partner and is recorded in cost of goods sold as the related inventory is sold. Partner funding received pursuant to shared marketing expense programs is recorded as it is earned as a reduction of the related selling and administrative expenses in the period the program takes place only if the consideration represents a reimbursement of specific, incremental, identifiable costs. Consideration that exceeds the specific, incremental, identifiable costs is classified as a reduction of costs of goods sold. The amount of partner funding recorded as a reduction of selling and administrative expenses in our statements of operations totaled $34,900,000, $30,714,000 and $28,269,000 for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||||
Concentrations of Risk | |||||||||||||
Credit Risk | |||||||||||||
Although we are affected by the international economic climate, management does not believe material credit risk concentration existed at December 31, 2013. We monitor our clients’ financial condition and do not require collateral. Sales to the U.S. federal government, which are diversified across multiple agencies and departments, collectively accounted for approximately 10% of our 2013 net sales. However, there are several independent purchasing decision-makers across these agencies and departments. Excluding these sales to the federal government, we are not reliant on any one client. No single client accounted for more than 3% of our consolidated net sales in 2013. | |||||||||||||
Supplier Risk | |||||||||||||
Purchases from Microsoft accounted for approximately 30% of our aggregate purchases in 2013. No other partner accounted for more than 10% of purchases in 2013. Our top five partners as a group for 2013 were Microsoft, Cisco, Ingram Micro (a distributor), HP and Tech Data (a distributor), and approximately 63% of our total purchases during 2013 came from this group of partners. Although brand names and individual products are important to our business, we believe that competitive sources of supply are available in substantially all of our product categories such that, with the exception of Microsoft, we are not dependent on any single partner for sourcing products. | |||||||||||||
Advertising Costs | |||||||||||||
Advertising costs are expensed as they are incurred. Advertising expense of $29,394,000, $27,632,000 and $26,439,000 was recorded for the years ended December 31, 2013, 2012 and 2011, respectively. These amounts were partially offset by partner funding earned pursuant to shared marketing expense programs recorded as a reduction of selling and administrative expenses, as discussed above. | |||||||||||||
Stock-Based Compensation | |||||||||||||
Stock-based compensation is measured based on the fair value of the award on the date of grant and the corresponding expense is recognized over the period during which an employee is required to provide service in exchange for the reward. Stock-based compensation expense is classified in the same line item of the consolidated statements of operations as other payroll-related expenses specific to the employee. Compensation expense related to service-based restricted stock units (“RSUs”) is recognized on a straight-line basis over the requisite service period for the entire award. Compensation expense related to performance-based RSUs is recognized on a straight-line basis over the requisite service period for each separately vesting portion of the award as if the award was, in-substance, multiple awards (i.e., a graded vesting basis). | |||||||||||||
Income Taxes | |||||||||||||
Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable earnings in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in earnings in the period that includes the enactment date. | |||||||||||||
We recognize net deferred tax assets to the extent that we believe these assets are more likely than not to be realized. In making such a determination, we consider all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies and results of recent operations. If we determine that we would be able to realize our deferred tax assets in the future in excess of their net recorded amount, we would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes. | |||||||||||||
We record uncertain tax positions on the basis of a two-step process whereby (1) we determine whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold, we recognize the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority. Interest and penalties related to unrecognized tax benefits are recognized within the income tax expense line in the accompanying consolidated statements of operations. Accrued interest and penalties are included within the related tax liability line in the accompanying consolidated balance sheets. | |||||||||||||
Net Earnings Per Share (“EPS”) | |||||||||||||
Basic EPS is computed by dividing net earnings available to common stockholders by the weighted-average number of common shares outstanding during each year. Diluted EPS is computed on the basis of the weighted average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Dilutive potential common shares include outstanding stock options and restricted stock units. A reconciliation of the denominators of the basic and diluted EPS calculations follows (in thousands, except per share data): | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Numerator: | |||||||||||||
Net earnings | $ | 71,021 | $ | 92,763 | $ | 100,235 | |||||||
Denominator: | |||||||||||||
Weighted-average shares used to compute basic EPS | 43,012 | 44,413 | 45,474 | ||||||||||
Potential dilutive common shares due to dilutive stock options and restricted stock units | 277 | 421 | 547 | ||||||||||
Weighted-average shares used to compute diluted EPS | 43,289 | 44,834 | 46,021 | ||||||||||
Net earnings per share: | |||||||||||||
Basic | $ | 1.65 | $ | 2.09 | $ | 2.2 | |||||||
Diluted | $ | 1.64 | $ | 2.07 | $ | 2.18 | |||||||
For the years ended December 31, 2013, 2012 and 2011, approximately 177,000, 295,000 and 9,000, respectively, of our restricted stock units were not included in the diluted EPS calculations because their inclusion would have been anti-dilutive. For the year ended December 31, 2011, approximately 208,000 of our then outstanding stock options were not included in the diluted EPS calculations because the exercise prices of these options were greater than the average market price of our common stock during the respective periods. | |||||||||||||
Recently Issued Accounting Standards | |||||||||||||
There are no recently issued accounting standards that are expected to have a material effect on our consolidated financial position or results of operations. |
Property_and_Equipment
Property and Equipment | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||
Property and Equipment | ' | ||||||||
(2) Property and Equipment | |||||||||
Property and equipment consist of the following (in thousands): | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Software | $ | 154,756 | $ | 148,881 | |||||
Buildings | 77,287 | 76,254 | |||||||
Equipment | 84,845 | 80,625 | |||||||
Furniture and fixtures | 35,369 | 33,536 | |||||||
Leasehold improvements | 23,319 | 23,185 | |||||||
Land | 7,656 | 7,716 | |||||||
383,232 | 370,197 | ||||||||
Accumulated depreciation and amortization | (250,412 | ) | (226,684 | ) | |||||
Property and equipment, net | $ | 132,820 | $ | 143,513 | |||||
During 2013 and 2012, we periodically assessed whether any indicators of impairment existed related to our property and equipment. We incurred non-cash charges of $606,000, $596,000 and $1,390,000 during 2013, 2012 and 2011, respectively, to write-off certain property and equipment that will not be placed into service. | |||||||||
Depreciation and amortization expense related to property and equipment was $29,898,000, $28,148,000 and $26,607,000 for the years ended December 31, 2013, 2012 and 2011, respectively. Interest charges capitalized in connection with internal-use software development projects in the years ended December 31, 2013, 2012 and 2011 were immaterial. |
Goodwill
Goodwill | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||
Goodwill | ' | ||||||||||||||||
(3) Goodwill | |||||||||||||||||
There were no changes in the carrying amount of goodwill during the year ended December 31, 2013. The carrying amount of goodwill as of December 31, 2013 and 2012 was as follows (in thousands): | |||||||||||||||||
North America | EMEA | APAC | Consolidated | ||||||||||||||
Goodwill | $ | 349,679 | $ | 151,439 | $ | 13,973 | $ | 515,091 | |||||||||
Accumulated impairment losses | (323,422 | ) | (151,439 | ) | (13,973 | ) | (488,834 | ) | |||||||||
$ | 26,257 | $ | — | $ | — | $ | 26,257 | ||||||||||
On October 1, 2011, we acquired Ensynch, which has been integrated into our North America business. Under the purchase method of accounting, the purchase price for the acquisition was allocated to the tangible and identifiable intangible assets acquired and liabilities assumed based on their estimated fair values. The excess purchase price over fair value of net assets acquired of $9,783,000 was recorded as goodwill in the North America reporting unit. The primary driver for the acquisition was to enhance our professional services capabilities across the complete Microsoft solution set, including cloud migration and management. We believe that the synergies from combining Ensynch’s technical skills with Insight’s sales engine elevate our ability to provide clients with complete software solutions to drive their success, which is the primary factor making up the goodwill recognized. None of the goodwill is tax deductible. | |||||||||||||||||
During 2013, we periodically assessed whether any indicators of impairment existed which would require us to perform an interim impairment review. As of each interim period end during the year, we concluded that a triggering event had not occurred that would more likely than not reduce the fair value of our North America reporting unit (the only reporting unit with a goodwill balance at any period end) below its carrying value. We performed our annual test of goodwill for impairment during the fourth quarter of 2013. The results of the first step of the two-step goodwill impairment test indicated that the fair value of our North America reporting unit, estimated using the market approach, was in excess of the carrying value, and thus we did not perform step two of the impairment test. |
Intangible_Assets
Intangible Assets | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||
Intangible Assets | ' | ||||||||
(4) Intangible Assets | |||||||||
Intangible assets consist of the following (in thousands): | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Customer relationships | $ | 113,897 | $ | 113,761 | |||||
Other | 298 | 736 | |||||||
114,195 | 114,497 | ||||||||
Accumulated amortization | (78,430 | ) | (67,092 | ) | |||||
Intangible assets, net | $ | 35,765 | $ | 47,405 | |||||
The total fair value of net assets acquired from the Ensynch acquisition was approximately $4,403,000, including $2,680,000 of identifiable intangible assets, consisting primarily of customer relationships which are being amortized using the straight-line method over their estimated economic life of six years. | |||||||||
The total fair value of net assets acquired from the Inmac acquisition was approximately $15,631,000, including $9,778,000 of cash acquired and $1,027,000 of identifiable intangible assets, consisting primarily of customer relationships which are being amortized using the straight-line method over their estimated economic life of five years. | |||||||||
During 2013, we periodically assessed whether any indicators of impairment existed related to our intangible assets. As a result of our largest software partner changing its channel incentive program beginning in October 2013 in a manner that could adversely affect our results of operations, we assessed the recoverability of our intangible assets by comparing the asset group’s carrying amount to the projected undiscounted net cash flows associated with the related asset group over the primary asset’s remaining life. We concluded that the carrying amount of our long-lived assets was recoverable, and no impairment was indicated. | |||||||||
Amortization expense recognized for the years ended December 31, 2013, 2012 and 2011 was $11,646,000, $13,029,000 and $12,532,000, respectively. Future amortization expense for the remaining unamortized balance is estimated as follows (in thousands): | |||||||||
Years Ending December 31, | Amortization Expense | ||||||||
2014 | $ | 11,462 | |||||||
2015 | 11,442 | ||||||||
2016 | 8,565 | ||||||||
2017 | 2,268 | ||||||||
2018 | 2,028 | ||||||||
Total amortization expense | $ | 35,765 | |||||||
Accrued_Expenses_and_Other_Cur
Accrued Expenses and Other Current Liabilities | 12 Months Ended |
Dec. 31, 2013 | |
Payables And Accruals [Abstract] | ' |
Accrued Expenses and Other Current Liabilities | ' |
(5) Accrued Expenses and Other Current Liabilities | |
Included in accrued expenses and other current liabilities as of December 31, 2013 and 2012 is an accrual for $62,800,000 and $62,187,000, respectively, of sales tax, value-added tax and other indirect taxes. |
Debt_Capital_Lease_Obligation_
Debt, Capital Lease Obligation and Inventory Financing Facility | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Debt, Capital Lease Obligation and Inventory Financing Facility | ' | ||||||||
(6) Debt, Capital Lease Obligation and Inventory Financing Facility | |||||||||
Debt | |||||||||
Our long-term debt consists of the following (in thousands): | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Senior revolving credit facility | $ | 16,500 | $ | 33,000 | |||||
Accounts receivable securitization financing facility | 50,000 | 47,000 | |||||||
Capital lease obligation | 666 | 602 | |||||||
Total | 67,166 | 80,602 | |||||||
Less: current portion of obligation under capital lease | (217 | ) | (602 | ) | |||||
Less: current portion of revolving credit facilities | — | — | |||||||
Long-term debt | $ | 66,949 | $ | 80,000 | |||||
Our senior revolving credit facility (“revolving facility”) has an aggregate U.S. dollar equivalent maximum borrowing capacity amount of $350,000,000, $25,000,000 of which is available for borrowings in certain foreign currencies and in U.S. dollars. Additionally, $25,000,000 is available for the issuance of letters of credit. The revolving facility is guaranteed by the Company’s material domestic subsidiaries and is secured by a lien on substantially all of the Company’s and each guarantor’s assets. The interest rates applicable to borrowings under the revolving facility are based on the leverage ratio of the Company as set forth on a pricing grid in the amended agreement. Amounts outstanding under the revolving facility bear interest, payable quarterly, at a floating rate equal to the prime rate plus a predetermined spread of 0.00% to 0.75% or, at our option, a LIBOR rate plus a pre-determined spread of 1.25% to 2.25%. The balance of $16,500,000 outstanding at December 31, 2013 was borrowed under the prime rate option at 3.25% per annum. In addition, we pay a quarterly commitment fee on the unused portion of the facility of 0.25% to 0.45%, and our letter of credit participation fee ranges from 1.25% to 2.25%. During the year ended December 31, 2013, due to availability under our other debt and financing facilities, weighted average borrowings under our revolving facility were only $17,943,000. Interest expense associated with the revolving facility was $1,738,000 in 2013, including the commitment fee and amortization to interest expense of deferred financing fees capitalized in connection with amendments to the revolving facility. The weighted average interest rate on amounts outstanding under our revolving facility, including the commitment fee and origination costs incurred, was 3.1% and 1.7% during the years ended December 31, 2012 and 2011, respectively. As of December 31, 2013, $333,500,000 was available under the revolving facility. See “Covenants” below. The revolving facility matures on April 26, 2017. Deferred financing fees of $2,300,000 were capitalized in conjunction with the amendment to the revolving facility in 2012. Such fees are being amortized to interest expense over the five-year term of the facility. | |||||||||
Our accounts receivable securitization financing facility (“ABS facility”) has a maximum borrowing capacity of $200,000,000. Under our ABS facility, we can sell receivables periodically to a special purpose accounts receivable and financing entity (the “SPE”), which is exclusively engaged in purchasing receivables from us. The SPE is a wholly-owned, bankruptcy-remote entity that we have included in our consolidated financial statements. The SPE funds its purchases by selling undivided interests in eligible trade accounts receivable to a multi-seller conduit administered by an independent financial institution. The SPE’s assets are available first and foremost to satisfy the claims of the creditors of the conduit, and we cannot convey any interest in the receivables sold into the conduit (or allow any adverse claims on the receivables) without the consent of the SPE. We maintain effective control over the receivables that are sold. Accordingly, the receivables remain recorded on our consolidated balance sheets. At December 31, 2013 and 2012, the SPE owned $715,415,000 and $809,683,000, respectively, of receivables recorded at fair value and included in our consolidated balance sheets. Under certain circumstances, we may be required to obtain a public rating of our ABS facility from one or more credit rating agencies of at least “A” or its equivalent. Our failure to obtain such rating would result in an “amortization event” under our ABS facility. While our ABS facility has a stated maximum amount, the actual availability under our ABS facility is limited by the quantity and quality of the underlying accounts receivable. As of December 31, 2013, qualified receivables were sufficient to permit access to the full $200,000,000 facility amount, of which $50,000,000 was outstanding at December 31, 2013. See “Covenants” below. Our ABS facility matures on April 24, 2015. | |||||||||
Under our ABS facility, interest is payable monthly, and the floating interest rate applicable at December 31, 2013 was 1.07% per annum, including a 0.90% usage fee on any outstanding balances. In addition, we pay a monthly commitment fee on the unused portion of the facility of 0.30% if the facility is 50% or more utilized and 0.40% if the facility is less than 50% utilized. During the years ended December 31, 2013 and 2012, the weighted average interest rates on amounts outstanding under our ABS facility, including the usage and commitment fees and origination costs incurred, was 1.6% and 1.9%, respectively. Weighted average borrowings under our ABS facility in 2013 and 2012 were $112,959,000 and $102,674,000, respectively. Comparatively, during the year ended December 31, 2011, due to availability under our other debt financing facilities at more favorable rates, weighted average borrowings under our ABS facility were only $5,744,000. However, interest expense associated with the ABS facility in 2011 was $1,488,000 due to the inclusion of the commitment fee and amortization to interest expense of deferred financing fees capitalized in conjunction with amendments to our ABS facility. Deferred financing fees of $378,000 were capitalized in conjunction with the amendment to our ABS facility in 2012. Such fees are being amortized to interest expense over the three-year term of the facility. | |||||||||
Covenants | |||||||||
Our revolving facility and our ABS facility contain various covenants customary for transactions of this type, including limitations on the payment of dividends and the requirement that we comply with maximum leverage, minimum fixed charge and minimum asset coverage ratio requirements and meet monthly, quarterly and annual reporting requirements. If we fail to comply with these covenants, the lenders would be able to demand payment within a specified period of time. At December 31, 2013, we were in compliance with all such covenants. | |||||||||
Our consolidated debt balance that can be outstanding at the end of any fiscal quarter under our revolving facility and our ABS facility is limited by certain financial covenants, particularly a maximum leverage ratio. The maximum leverage ratio is calculated as aggregate debt outstanding divided by the sum of our trailing twelve month net earnings (loss) plus (i) interest expense, excluding non-cash imputed interest on our inventory financing facility, (ii) income tax expense (benefit), (iii) depreciation and amortization and (iv) non-cash stock-based compensation (“adjusted earnings”). The maximum leverage ratio permitted under the agreements is 2.75 times trailing twelve-month adjusted earnings. A significant drop in our adjusted earnings would limit the amount of indebtedness that could be outstanding at the end of any fiscal quarter to a level that would be below our consolidated maximum facility amount. Based on our maximum leverage ratio as of December 31, 2013, our consolidated debt balance that could have been outstanding under our revolving facility and our ABS facility was reduced from the maximum borrowing capacity of $550,000,000 to $457,552,000, of which $66,500,000 was outstanding at December 31, 2013. | |||||||||
Capital Lease Obligation | |||||||||
Our obligations under capitalized leases are included in long-term debt in our consolidated balance sheets as of December 31, 2013 and 2012. The current and long-term portions of the obligations are included in the table above. | |||||||||
In July 2009, we entered into a four-year lease for certain IT equipment. We amended this lease in November 2009 and again in July 2010 to include additional IT equipment. The value of the equipment held under the original capitalized lease, $3,867,000, was fully amortized prior to the equipment being returned to the lessor under the original lease terms in July 2013. In July 2013, we entered into a new 42-month capitalized lease for replacement equipment. The value of the equipment held under the new capitalized lease, $735,000, is included in property and equipment as of December 31, 2013. As of December 31, 2013, accumulated amortization on the capital lease assets was $105,000. | |||||||||
The new capital lease was a non-cash transaction and, accordingly, has been excluded from our consolidated statement of cash flows for the year ended December 31, 2013. | |||||||||
Inventory Financing Facility | |||||||||
The aggregate availability for vendor purchases under our inventory financing facility is $200,000,000. The facility matures on April 26, 2017. Additionally, the facility may be renewed under certain circumstances described in the agreement for successive 12-month periods. Interest does not accrue on accounts payable under this facility provided the accounts payable are paid within stated vendor terms (ranging from 30 to 60 days). We impute interest on the average daily balance outstanding during these stated vendor terms based on our blended incremental borrowing rate during the period under our revolving facility and our ABS facility. Imputed interest of $2,453,000, $1,838,000 and $1,978,000 was recorded in 2013, 2012 and 2011, respectively. Deferred financing fees of $99,000 were capitalized in conjunction with the amendment to the inventory financing facility in 2012. Such fees are being amortized to interest expense over the five-year term of the facility. If balances are not paid within stated vendor terms, they will accrue interest at prime plus 1.25%. The facility is guaranteed by the Company and each of its material domestic subsidiaries and is secured by a lien on substantially all of the Company’s domestic assets that is of equal priority to the liens securing borrowings under our revolving facility. As of December 31, 2013 and 2012, $115,252,000 and $116,833,000, respectively, was included in accounts payable related to this facility. |
Leases
Leases | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Leases [Abstract] | ' | ||||
Leases | ' | ||||
(7) Leases | |||||
We have several non-cancelable operating leases with third parties, primarily for administrative and distribution center space and computer equipment. Our facilities leases generally provide for periodic rent increases and many contain escalation clauses and renewal options. We recognize rent expense on a straight-line basis over the lease term. Rental expense for these third-party operating leases was $15,731,000, $14,740,000 and $14,821,000 for the years ended December 31, 2013, 2012 and 2011, respectively, and is included in selling and administrative expenses in our consolidated statements of operations. | |||||
Future minimum lease payments under non-cancelable operating leases (with initial or remaining lease terms in excess of one year) as of December 31, 2013 are as follows (in thousands): | |||||
Years Ending December 31, | |||||
2014 | $ | 14,902 | |||
2015 | 13,097 | ||||
2016 | 8,617 | ||||
2017 | 6,593 | ||||
2018 | 5,636 | ||||
Thereafter | 9,479 | ||||
Total minimum lease payments | $ | 58,324 | |||
Severance_and_Restructuring_Ac
Severance and Restructuring Activities | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Restructuring And Related Activities [Abstract] | ' | ||||||||||||
Severance and Restructuring Activities | ' | ||||||||||||
(8) Severance and Restructuring Activities | |||||||||||||
Severance Costs Expensed for 2013 Resource Actions | |||||||||||||
During the year ended December 31, 2013, North America and EMEA recorded severance expense totaling $3,429,000 and $9,603,000, respectively, related to 2013 resource actions. The charges related to a continued review of resource needs in North America and significant restructuring activities in EMEA, primarily in the United Kingdom and Germany, as we worked to rationalize our selling and administrative expenses in EMEA. | |||||||||||||
The following table details the 2013 activity and the outstanding obligations related to the 2013 resource actions as of December 31, 2013 (in thousands): | |||||||||||||
North | EMEA | Consolidated | |||||||||||
America | |||||||||||||
Severance costs | $ | 3,429 | $ | 9,603 | $ | 13,032 | |||||||
Foreign currency translation adjustments | — | 194 | 194 | ||||||||||
Cash payments | (2,206 | ) | (6,887 | ) | (9,093 | ) | |||||||
Balance at December 31, 2013 | $ | 1,223 | $ | 2,910 | $ | 4,133 | |||||||
The remaining outstanding obligations are expected to be paid during the next 12 months and are therefore included in accrued expenses and other current liabilities. | |||||||||||||
Severance Costs Expensed for 2012 Resource Actions | |||||||||||||
During the year ended December 31, 2012, North America and EMEA recorded severance expense totaling $3,022,000 and $3,973,000, respectively, related to 2012 restructuring actions. The charges were associated with severance for the elimination of certain positions based on a re-alignment of roles and responsibilities. | |||||||||||||
The following table details the 2013 activity and the outstanding obligations related to the 2012 resource actions as of December 31, 2013 (in thousands): | |||||||||||||
North | EMEA | Consolidated | |||||||||||
America | |||||||||||||
Balance at December 31, 2012 | $ | 1,249 | $ | 1,391 | $ | 2,640 | |||||||
Foreign currency translation adjustments | — | 18 | 18 | ||||||||||
Adjustments | (104 | ) | (188 | ) | (292 | ) | |||||||
Cash payments | (658 | ) | (884 | ) | (1,542 | ) | |||||||
Balance at December 31, 2013 | $ | 487 | $ | 337 | $ | 824 | |||||||
The remaining outstanding obligations are expected to be paid during the next 12 months and are therefore included in accrued expenses and other current liabilities. | |||||||||||||
Severance Costs Expensed for 2011 Resource Actions | |||||||||||||
During the year ended December 31, 2011, North America and EMEA recorded severance expense totaling $2,425,000 and $2,737,000, respectively, relating to 2011 restructuring actions. The charges were associated with severance for the elimination of certain positions based on a re-alignment of roles and responsibilities. During the year ended December 31, 2012, all remaining liabilities were settled, including adjustments recorded as a reduction to severance and restructuring expense in North America and EMEA of $188,000 and $412,000, respectively, due to changes in estimates. | |||||||||||||
Prior Resource Actions | |||||||||||||
In 2010 and 2009, as a result of ongoing restructuring efforts to reduce operating expenses, we recorded severance costs in each of our operating segments. During the year ended December 31, 2012, all remaining liabilities were settled, including an adjustment recorded as a reduction to severance and restructuring expense in EMEA of $78,000 due to changes in estimates. |
StockBased_Compensation
Stock-Based Compensation | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||
Stock-Based Compensation | ' | ||||||||||||
(9) Stock-Based Compensation | |||||||||||||
We recorded the following pre-tax amounts in selling and administrative expenses for stock-based compensation, by operating segment, in our consolidated financial statements (in thousands): | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
North America | $ | 5,118 | $ | 6,260 | $ | 5,779 | |||||||
EMEA | 1,061 | 2,030 | 1,908 | ||||||||||
APAC | 251 | 258 | 232 | ||||||||||
Total Consolidated | $ | 6,430 | $ | 8,548 | $ | 7,919 | |||||||
Company Plan | |||||||||||||
On October 1, 2007, Insight’s Board of Directors approved the 2007 Omnibus Plan (the “2007 Plan”), and the 2007 Plan became effective when it was approved by Insight’s stockholders at the annual meeting on November 12, 2007. On August 12, 2008, the 2007 Plan was amended to clarify certain provisions relating to forfeiture restrictions and grants of discretionary awards to non-employee directors. On May 18, 2011, Insight’s stockholders approved the Company’s Amended 2007 Omnibus Plan (“the Amended 2007 Plan”) to, among other changes, increase the number of shares of common stock authorized to be issued thereunder by 3,000,000 shares to a total of 7,250,000 shares. The Amended 2007 Plan is administered by the Compensation Committee of Insight’s Board of Directors, and, except as provided below, the Compensation Committee has the exclusive authority to administer the Amended 2007 Plan, including the power to determine eligibility, the types of awards to be granted, the price and the timing of awards. Under the Amended 2007 Plan, the Compensation Committee may delegate some of its authority to our Chief Executive Officer to grant awards to individuals other than individuals who are subject to the reporting requirements of Section 16(a) of the Securities Exchange Act of 1934, as amended. Teammates, officers and members of the Board of Directors are eligible for awards under the Amended 2007 Plan, and consultants and independent contractors are also eligible if they provide bona fide services that are not related to capital raising or promoting or maintaining a market for the Company’s stock. The Amended 2007 Plan allows for awards of options, stock appreciation rights, restricted stock, RSUs, performance awards as well as grants of cash awards. As of December 31, 2013, of the 7,250,000 shares of stock reserved for awards issued under the Amended 2007 Plan, 4,433,643 shares of stock were available for grant. | |||||||||||||
Accounting for Restricted Stock Units | |||||||||||||
We issue RSUs as incentives to certain officers and teammates and as compensation to members of our Board of Directors. We recognize compensation expense associated with the issuance of such RSUs over the vesting period for each respective RSU. The total compensation expense associated with RSUs represents the value based upon the number of RSUs awarded multiplied by the closing price of our common stock on the date of grant, adjusted for our estimate of forfeitures. The number of RSUs to be awarded under our service-based RSUs is fixed at the grant date. The number of RSUs ultimately awarded under our performance-based RSUs varies based on whether the Company achieves certain financial results. We record compensation expense each period based on our estimate of the most probable number of RSUs that will be issued under the grants of performance-based RSUs. Recipients of RSUs do not have voting or dividend rights until the vesting conditions are satisfied and shares are released. | |||||||||||||
As of December 31, 2013, total compensation cost related to nonvested RSUs not yet recognized is $10,530,000, which is expected to be recognized over the next 1.33 years on a weighted-average basis. | |||||||||||||
The following table summarizes our RSU activity during the year ended December 31, 2013: | |||||||||||||
Number | Weighted Average | Fair Value | |||||||||||
Grant Date Fair Value | |||||||||||||
Nonvested at the beginning of year | 1,162,231 | $ | 17.66 | ||||||||||
Granted | 393,651 | $ | 20.43 | ||||||||||
Vested, including shares withheld to cover taxes | (580,924 | ) | $ | 16.07 | $ | 11,829,527 | (a) | ||||||
Forfeited | (163,393 | ) | $ | 19.38 | |||||||||
Nonvested at the end of year | 811,565 | $ | 19.91 | $ | 18,430,641 | (b) | |||||||
Expected to vest | 730,769 | $ | 16,595,764 | (b) | |||||||||
(a) | The fair value of vested RSUs represents the total pre-tax fair value, based on the closing stock price on the day of vesting, which would have been received by holders of RSUs had all such holders sold their underlying shares on that date. The aggregate intrinsic value for vested shares of restricted common stock and RSUs during 2012 and 2011 was $14,112,284 and $11,174,009, respectively. | ||||||||||||
(b) | The aggregate fair value of the nonvested RSUs and the RSUs expected to vest represents the total pre-tax fair value, based on our closing stock price of $22.71 as of December 31, 2013, which would have been received by holders of RSUs had all such holders sold their underlying shares on that date. | ||||||||||||
During each of the years in the three-year period ended December 31, 2013, the RSUs that vested for teammates in the United States were net-share settled such that we withheld shares with value equivalent to the teammates’ minimum statutory United States tax obligation for the applicable income and other employment taxes and remitted the equivalent cash amount to the appropriate taxing authorities. The total shares withheld during the years ended December 31, 2013, 2012 and 2011 of 151,521, 158,231 and 154,473, respectively, were based on the value of the RSUs on their vesting dates as determined by our closing stock price on such dates. For the years ended December 31, 2013, 2012 and 2011, total payments for the employees’ tax obligations to the taxing authorities were $3,094,000, $3,288,000 and $2,697,000, respectively, and are reflected as a financing activity within the consolidated statements of cash flows. These net-share settlements had the effect of repurchases of our common stock as they reduced the number of shares that would have otherwise been issued as a result of the vesting and did not represent an expense to us. | |||||||||||||
Accounting for Stock Options | |||||||||||||
No options were granted and no stock-based compensation expense related to stock options was recognized during the three years ended December 31, 2013. All previously granted unexercised stock options expired in December 2012. | |||||||||||||
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Income Taxes | ' | ||||||||||||
(10) Income Taxes | |||||||||||||
The following table presents the U.S. and foreign components of earnings before income taxes and the related income tax expense (in thousands): | |||||||||||||
Earnings before income taxes: | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
U.S. | $ | 95,481 | $ | 99,970 | $ | 87,436 | |||||||
Foreign | 19,043 | 44,698 | 54,253 | ||||||||||
$ | 114,524 | $ | 144,668 | $ | 141,689 | ||||||||
Income tax expense: | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Current: | |||||||||||||
U.S. Federal | $ | 27,782 | $ | 25,319 | $ | 18,410 | |||||||
U.S. State and local | 2,662 | 2,436 | 1,113 | ||||||||||
Foreign | 9,614 | 15,172 | 17,379 | ||||||||||
40,058 | 42,927 | 36,902 | |||||||||||
Deferred: | |||||||||||||
U.S. Federal | 4,039 | 7,785 | 4,440 | ||||||||||
U.S. State and local | 921 | (823 | ) | 2,042 | |||||||||
Foreign | (1,515 | ) | 2,016 | (1,930 | ) | ||||||||
3,445 | 8,978 | 4,552 | |||||||||||
$ | 43,503 | $ | 51,905 | $ | 41,454 | ||||||||
The following schedule reconciles the differences between the U.S. federal income taxes at the U.S. statutory rate and our income tax expense (dollars in thousands): | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Expected expense at U.S. statutory rate of 35% | $ | 40,083 | $ | 50,634 | $ | 49,591 | |||||||
Change resulting from: | |||||||||||||
State income tax expense, net of federal income tax benefit | 3,662 | 2,088 | 3,225 | ||||||||||
Audits and adjustments, net | (1,730 | ) | 2,424 | (665 | ) | ||||||||
Change in valuation allowance | 4,160 | 641 | (1,643 | ) | |||||||||
Foreign income taxed at different rates | (2,665 | ) | (3,823 | ) | (2,136 | ) | |||||||
Reorganization/recapitalization of foreign operations | — | — | (7,580 | ) | |||||||||
Non-deductible compensation | 275 | 485 | 512 | ||||||||||
Other, net | (282 | ) | (544 | ) | 150 | ||||||||
Income tax expense | $ | 43,503 | $ | 51,905 | $ | 41,454 | |||||||
Effective tax rate | 38 | % | 35.9 | % | 29.3 | % | |||||||
The total income tax expense in 2011 includes net U.S. benefits of $8,637,000 primarily related to the recognition of foreign tax credits upon the reorganization of certain of our foreign operations in the fourth quarter and to other tax matters. | |||||||||||||
For foreign entities not treated as branches for U.S. tax purposes, we do not provide for U.S. income taxes on the undistributed earnings of these subsidiaries as these earnings are reinvested and, in the opinion of management, will continue to be reinvested indefinitely outside of the U.S. The undistributed earnings of foreign subsidiaries that are deemed to be indefinitely invested outside of the U.S. were approximately $71,952,000 at December 31, 2013. It is not practicable to determine the unrecognized deferred tax liability on those earnings. | |||||||||||||
The significant components of deferred tax assets and liabilities are as follows (in thousands): | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Deferred tax assets: | |||||||||||||
Goodwill and other intangibles | $ | 59,828 | $ | 65,523 | |||||||||
Net operating losses | 16,489 | 13,571 | |||||||||||
Foreign tax credits | 12,651 | 12,244 | |||||||||||
Accruals | 10,243 | 10,154 | |||||||||||
Accounts receivable | 6,389 | 6,276 | |||||||||||
Stock-based compensation | 2,881 | 3,612 | |||||||||||
Inventories | 1,837 | 1,239 | |||||||||||
Deferred revenue | 567 | 952 | |||||||||||
Other | 320 | 1,285 | |||||||||||
Gross deferred tax assets | 111,205 | 114,856 | |||||||||||
Valuation allowance | (24,508 | ) | (20,176 | ) | |||||||||
Total deferred tax assets | 86,697 | 94,680 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Property and equipment | (11,803 | ) | (16,340 | ) | |||||||||
Prepaid expenses | (250 | ) | (252 | ) | |||||||||
Total deferred tax liabilities | (12,053 | ) | (16,592 | ) | |||||||||
Net deferred tax assets | $ | 74,644 | $ | 78,088 | |||||||||
The net current and non-current portions of deferred tax assets and liabilities are as follows (in thousands): | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Net current deferred tax asset | $ | 16,436 | $ | 16,387 | |||||||||
Net non-current deferred tax asset | 58,208 | 61,701 | |||||||||||
Net deferred tax asset | $ | 74,644 | $ | 78,088 | |||||||||
As of December 31, 2013, we have U.S. state net operating loss carryforwards (“NOLs”) of $740,000 that will expire between 2014 and 2030 and U.S. federal NOLs of $48,000 that will expire in 2031. We also have NOLs from various non-U.S. jurisdictions of $60,711,000. While the majority of the non-U.S. NOLs have no expiration date, $5,245,000 will expire between 2014 and 2020. | |||||||||||||
On the basis of currently available information, we have provided valuation allowances for certain of our deferred tax assets where we believe it is more likely than not that the related tax benefits will not be realized. At December 31, 2013 and 2012, our valuation allowance totaled $24,508,000 and $20,176,000, respectively, representing certain U.S. state NOLs, non-U.S. NOLs, foreign depreciation allowances and foreign tax credits. | |||||||||||||
We believe it is more likely than not that forecasted income, including income that may be generated as a result of prudent and feasible tax planning strategies, together with the tax effects of deferred tax liabilities, will be sufficient to fully recover our remaining deferred tax assets. In the future, if we determine that realization of the remaining deferred tax asset and the availability of certain previously paid taxes to be refunded are not more likely than not, we will need to increase our valuation allowance and record additional income tax expense. | |||||||||||||
The following table summarizes the change in the valuation allowance (in thousands): | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Valuation allowance at beginning of year | $ | 20,176 | $ | 18,901 | |||||||||
Increase in income tax expense | 4,160 | 641 | |||||||||||
Foreign currency translation adjustments | 172 | 230 | |||||||||||
Acquired valuation allowances | — | 404 | |||||||||||
Valuation allowance at end of year | $ | 24,508 | $ | 20,176 | |||||||||
A net tax benefit of $760,000, $1,036,000 and $1,351,000, related to the exercise of employee stock options and other employee stock programs was applied to stockholders’ equity during the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||||
Various taxing jurisdictions are examining our tax returns for certain tax years. Although the outcome of tax audits cannot be predicted with certainty, management believes the ultimate resolution of these examinations will not result in a material adverse effect to our financial position, results of operations or cash flows. | |||||||||||||
As of December 31, 2013 and 2012, we had approximately $4,546,000 and $7,201,000, respectively, of unrecognized tax benefits. Of these amounts, approximately $364,000 and $488,000, respectively, related to accrued interest. A reconciliation of the beginning and ending amounts of unrecognized tax benefits, excluding interest, is as follows (in thousands): | |||||||||||||
Balance at December 31, 2012 | $ | 6,713 | |||||||||||
Subtractions for tax positions in prior periods | (191 | ) | |||||||||||
Additions for tax positions in current period | 470 | ||||||||||||
Subtractions due to foreign currency translation | (8 | ) | |||||||||||
Subtractions due to audit settlements and statute expirations | (2,802 | ) | |||||||||||
Balance at December 31, 2013 | $ | 4,182 | |||||||||||
In the future, if recognized, the liability associated with uncertain tax positions would affect our effective tax rate. We do not believe there will be any changes over the next 12 months that would have a material effect on our effective tax rate. | |||||||||||||
Several of our subsidiaries are currently under audit for tax years 2006 through 2012. It is reasonably possible that the examination phase of these audits may conclude in the next 12 months and that the related unrecognized tax benefits for uncertain tax positions may change, potentially having a material effect on our effective tax rate. However, based on the status of the various examinations in multiple jurisdictions, an estimate of the range of reasonably possible outcomes cannot be made at this time. | |||||||||||||
We, including our subsidiaries, file income tax returns in the U.S. federal jurisdiction, and many state and local and non-U.S. jurisdictions. In the U.S., federal income tax returns for 2011 and 2012 remain open to examination. For U.S. state and local taxes as well as in non-U.S. jurisdictions, the statute of limitations generally varies between three and ten years. |
Market_Risk_Management
Market Risk Management | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Text Block [Abstract] | ' | ||||||||
Market Risk Management | ' | ||||||||
(11) Market Risk Management | |||||||||
Interest Rate Risk | |||||||||
We have interest rate exposure arising from our financing facilities, which have variable interest rates. These variable interest rates are affected by changes in short-term interest rates. We currently do not hedge our interest rate exposure. | |||||||||
We do not believe that the effect of reasonably possible near-term changes in interest rates will be material to our financial position, results of operations and cash flows. Our financing facilities expose our net earnings to changes in short-term interest rates since interest rates on the underlying obligations are variable. We had $16,500,000 outstanding under our senior revolving credit facility and $50,000,000 outstanding under our ABS facility at December 31, 2013. The interest rates attributable to the borrowings under our senior revolving credit facility and the ABS facility were 3.25% and 1.07%, respectively, per annum at December 31, 2013. The change in annual earnings from continuing operations, pretax, resulting from a hypothetical 10% increase or decrease in the highest applicable interest rate would approximate $127,000. | |||||||||
Foreign Currency Exchange Risk | |||||||||
We use the U.S. dollar as our reporting currency. The functional currencies of our significant foreign subsidiaries are generally the local currencies. Accordingly, assets and liabilities of the subsidiaries are translated into U.S. dollars at the exchange rate in effect at the balance sheet dates. Income and expense items are translated at the average exchange rate for each month within the year. Translation adjustments are recorded in other comprehensive income as a separate component of stockholders’ equity. Net foreign currency transaction gains/losses, including transaction gains/losses on intercompany balances that are not of a long-term investment nature, are reported as a separate component of non-operating (income) expense, net in our consolidated statements of operations. We also maintain cash accounts denominated in currencies other than the functional currency which expose us to foreign exchange rate movements. Remeasurement of these cash balances results in gains/losses that are also reported as a separate component of non-operating (income) expense. | |||||||||
We monitor our foreign currency exposure and selectively enter into forward exchange contracts to mitigate risk associated with certain non-functional currency monetary assets and liabilities related to foreign denominated payables, receivables, and cash balances. Transaction gains and losses resulting from non-functional currency assets and liabilities are offset by forward contracts in non-operating (income) and expense, net. The Company does not have a significant concentration of credit risk with any single counterparty. | |||||||||
The Company generally enters into forward contracts with maturities of one month or less. The derivatives entered into during 2013 were not designated as hedges. The following derivative contracts were entered into during the year ended December 31, 2013, and remained open and outstanding at December 31, 2013. All U.S. dollar and foreign currency amounts (British Pounds Sterling and Euros) are presented in thousands. | |||||||||
Buy | Buy | ||||||||
Foreign Currency | GBP | EUR | |||||||
Foreign Amount | 5,000 | 5,000 | |||||||
USD Equivalent | $ | 8,175 | $ | 6,850 | |||||
Weighted Average Maturity | Less than 1 month | Less than 1 month | |||||||
The Company does not enter into derivative contracts for speculative or trading purposes. The fair value of all forward contracts at December 31, 2013 was an asset of $91,000. |
Derivative_Financial_Instrumen
Derivative Financial Instruments | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||
Derivative Financial Instruments | ' | ||||||||||||||||||
(12) Derivative Financial Instruments | |||||||||||||||||||
We use derivatives to partially offset our exposure to fluctuations in certain foreign currencies. We do not enter into derivatives for speculative or trading purposes. Derivatives are recorded at fair value on the balance sheet and gains or losses resulting from changes in fair value of the derivative are recorded currently in income. The Company does not designate our hedges for hedge accounting, and our foreign currency derivative instruments are not subject to any master netting arrangements with our counterparties. | |||||||||||||||||||
We use foreign exchange forward contracts to hedge certain non-functional currency assets and liabilities from changes in exchange rate movements. Our non-functional currency assets and liabilities are primarily related to foreign currency denominated payables, receivables, and cash balances. The foreign currency forward contracts, carried at fair value, typically have a maturity of one month or less. We currently enter into approximately two foreign exchange forward contracts per month with an average notional value of $10,644,000 and an average maturity of approximately eleven days. | |||||||||||||||||||
The counterparties associated with our foreign exchange forward contracts are large creditworthy commercial banks. The derivatives transacted with these institutions are short in duration and, therefore, we do not consider counterparty concentration and non-performance to be material risks. | |||||||||||||||||||
The following table summarizes our derivative financial instruments as of December 31, 2013 and 2012 (in thousands): | |||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||
Balance Sheet Location | Asset | Liability | Asset | Liability | |||||||||||||||
Derivatives | Derivatives | Derivatives | Derivatives | ||||||||||||||||
Fair Value | Fair Value | Fair Value | Fair Value | ||||||||||||||||
Derivatives not designated as hedging instruments: | |||||||||||||||||||
Foreign exchange forward contracts | Other current assets | $ | 91 | $ | — | $ | 8 | $ | — | ||||||||||
Foreign exchange forward contracts | Accrued expenses and other current liabilities | — | — | — | 25 | ||||||||||||||
Total derivatives not designated as hedging instruments | $ | 91 | $ | — | $ | 8 | $ | 25 | |||||||||||
The following table summarizes the effect of our derivative financial instruments on our results of operations during the years ended December 31, 2013, 2012 and 2011 (in thousands): | |||||||||||||||||||
Derivatives Not Designated as | Location of (Gain) Loss Recognized in | Amount of (Gain) Loss | |||||||||||||||||
Hedging Instruments | Earnings on Derivatives | Recognized | |||||||||||||||||
in Earnings on | |||||||||||||||||||
Derivatives | |||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||
Foreign exchange forward contracts | Net foreign currency exchange (gain) loss | $ | (398 | ) | $ | 813 | $ | (951 | ) | ||||||||||
Total | $ | (398 | ) | $ | 813 | $ | (951 | ) | |||||||||||
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||
Fair Value Measurements | ' | ||||||||||||||||||
(13) Fair Value Measurements | |||||||||||||||||||
The following table summarizes the valuation of our financial instruments by the following three categories as of December 31, 2013 and 2012 (in thousands): | |||||||||||||||||||
Level 1: | Quoted market prices in active markets for identical assets or liabilities. | ||||||||||||||||||
Level 2: | Observable market based inputs or unobservable inputs that are corroborated by market data. | ||||||||||||||||||
Level 3: | Unobservable inputs that are not corroborated by market data. | ||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||
Balance Sheet Classification | Foreign | Non-qualified | Foreign | Non-qualified | |||||||||||||||
Exchange | Deferred | Exchange | Deferred | ||||||||||||||||
Derivatives | Compensation | Derivatives | Compensation | ||||||||||||||||
Plan | Plan | ||||||||||||||||||
Investments | Investments | ||||||||||||||||||
Other current assets | Level 1 | $ | — | $ | — | $ | — | $ | 1,240 | ||||||||||
Level 2 | 91 | — | 8 | — | |||||||||||||||
Level 3 | — | — | — | — | |||||||||||||||
$ | 91 | $ | — | $ | 8 | $ | 1,240 | ||||||||||||
Accrued expenses and other current liabilities | Level 1 | $ | — | $ | — | $ | — | $ | — | ||||||||||
Level 2 | — | — | 25 | — | |||||||||||||||
Level 3 | — | — | — | — | |||||||||||||||
$ | — | $ | — | $ | 25 | $ | — | ||||||||||||
Foreign Exchange Derivatives | |||||||||||||||||||
We have elected to use the income approach to value the foreign exchange derivatives, using observable Level 2 market expectations at the measurement date and standard valuation techniques to convert future amounts to a single present value amount assuming that participants are motivated, but not compelled, to transact. Level 2 inputs for the valuations are limited to quoted prices for similar assets or liabilities in active markets and inputs other than quoted prices that are observable for the asset or liability (specifically LIBOR rates, foreign exchange rates, and foreign exchange forward points). Mid-market pricing is used as a practical expedient for fair value measurements. Fair value measurement of an asset or liability must reflect the nonperformance risk of the entity and the counterparty. Therefore, the impact of the counterparty’s creditworthiness when in an asset position and the Company’s creditworthiness when in a liability position has also been factored into the fair value measurement of the derivative instruments and did not have a material impact on the fair value of these derivative instruments. Both the counterparty and the Company are expected to continue to perform under the contractual terms of the instruments. | |||||||||||||||||||
Non-qualified Deferred Compensation Plan Investments | |||||||||||||||||||
The assets of the non-qualified deferred compensation plan (discussed in Note 14) were set up in a Rabbi Trust. They represented money market funds that were carried at fair value, based on quoted market prices, and were classified within Level 1 of the fair value hierarchy. | |||||||||||||||||||
As of December 31, 2013, we have no non-financial assets or liabilities that are measured and recorded at fair value on a recurring basis, and our other financial assets or liabilities generally consist of cash and cash equivalents, accounts receivable, accounts payable and accrued expenses and other current liabilities. The estimated fair values of our cash and cash equivalents is determined based on quoted prices in active markets for identical assets. The fair value of the other financial assets and liabilities is based on the value that would be received or paid in an orderly transaction between market participants and approximates the carrying value due to their nature and short duration. |
Benefit_Plans
Benefit Plans | 12 Months Ended |
Dec. 31, 2013 | |
Compensation And Retirement Disclosure [Abstract] | ' |
Benefit Plans | ' |
(14) Benefit Plans | |
We adopted a defined contribution benefit plan (the “Defined Contribution Plan”) for our U.S. teammates which complies with section 401(k) of the Internal Revenue Code. The Company provides a discretionary match to all participants who elect 401(k) contributions pursuant to the Defined Contribution Plan. The discretionary match provided to participants is equivalent to 25% of a participant’s pre-tax contributions up to a maximum of 6% of eligible compensation per pay period. We have a similar plan for our Canadian teammates whereby we match 100% of a participant’s pre-tax contributions up to a maximum of 1.5% of eligible compensation per pay period. Additionally, we offer several defined contribution benefit plans to our teammates in EMEA and APAC. These plans and their related terms vary by country. Total combined contribution expense under these plans was $6,923,000, $6,579,000 and $6,086,000 for the years ended December 31, 2013, 2012 and 2011, respectively. | |
Effective January 1, 2008, we established the Insight Non-qualified Deferred Compensation Plan (the “Deferred Compensation Plan”) to allow a select group of “management or highly compensated employees” as defined by the Employee Retirement Income Security Act of 1974, as amended, to voluntarily defer receipt of compensation and earn a rate of return on their deferred amounts based on their selection from a variety of independently managed funds. All deferred amounts were employee contributions, and all gains or losses on amounts held in the Deferred Compensation Plan were fully allocable to plan participants. We did not provide a guaranteed rate of return on deferred amounts nor did we make any contributions to the Deferred Compensation Plan. The Deferred Compensation Plan was terminated effective May 31, 2012, and the Deferred Compensation Plan’s assets were liquidated and participant account balances were paid out during 2013. Prior to their liquidation in 2013, as of December 31, 2012, the assets held in the Deferred Compensation Plan were $1,240,000. Liabilities related to the Deferred Compensation Plan as of December 31, 2012 were $849,000. |
Share_Repurchase_Programs
Share Repurchase Programs | 12 Months Ended |
Dec. 31, 2013 | |
Equity [Abstract] | ' |
Share Repurchase Programs | ' |
(15) Share Repurchase Programs | |
On May 26, 2011, we announced that our Board of Directors had authorized the repurchase of up to $50,000,000 of our common stock. During the year ended December 31, 2011, we purchased 2,897,493 shares of our common stock on the open market at an average price of $17.26 per share, which represented the full amount authorized under the repurchase program. All shares repurchased were retired. | |
On February 14, 2013, we announced that our Board of Directors had authorized the repurchase of up to $50,000,000 of our common stock. During the year ended December 31, 2013, we purchased 2,646,722 shares of our common stock on the open market at an average price of $18.89 per share, which represented the full amount authorized under the repurchase program. All shares repurchased were retired. | |
On October 30, 2013, we announced that our Board of Directors had authorized another repurchase of up to $50,000,000 of our common stock. Any share repurchases may be made on the open market, through block trades, through 10b5-1 plans or otherwise. The amount of shares purchased and the timing of the purchases will be based on working capital requirements, general business conditions and other factors. We intend to retire the repurchased shares. During the year ended December 31, 2013, we purchased 353,316 shares of our common stock on the open market at a total cost of approximately $7,774,000 (an average price of $22.00 per share). All shares repurchased through December 31, 2013 have been retired. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2013 | |
Commitments And Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies | ' |
(16) Commitments and Contingencies | |
Contractual | |
In the ordinary course of business, we issue performance bonds to secure our performance under certain contracts or state tax requirements. As of December 31, 2013, we had approximately $2,890,000 of performance bonds outstanding. These bonds are issued on our behalf by a surety company on an unsecured basis; however, if the surety company is ever required to pay out under the bonds, we have contractually agreed to reimburse the surety company. | |
Employment Contracts and Severance Plans | |
We have employment contracts with, and plans covering, certain officers and management teammates under which severance payments would become payable in the event of specified terminations without cause or terminations under certain circumstances after a change in control. In addition, vesting of stock-based compensation would accelerate following a change in control. If severance payments under the current employment agreements or plan payments were to become payable, the severance payments would generally range from three to twenty-four months of salary. | |
Indemnifications | |
From time to time, in the ordinary course of business, we enter into contractual arrangements under which we agree to indemnify either our clients or third-party service providers from certain losses incurred relating to services performed on our behalf or for losses arising from defined events, which may include litigation or claims relating to past performance. These arrangements include, but are not limited to, the indemnification of our clients for certain claims arising out of our performance under our sales contracts, the indemnification of our landlords for certain claims arising from our use of leased facilities and the indemnification of the lenders that provide our credit facilities for certain claims arising from their extension of credit to us. Such indemnification obligations may not be subject to maximum loss clauses. | |
Management believes that payments, if any, related to these indemnifications are not probable at December 31, 2013. Accordingly, we have not accrued any liabilities related to such indemnifications in our consolidated financial statements. | |
We have entered into separate indemnification agreements with our executive officers and with each of our directors. These agreements require us, among other requirements, to indemnify such officers and directors against expenses (including attorneys’ fees), judgments and settlements paid by such individual in connection with any action arising out of such individual’s status or service as our executive officer or director (subject to exceptions such as where the individual failed to act in good faith or in a manner the individual reasonably believed to be in, or not opposed to, the best interests of the Company) and to advance expenses incurred by such individual with respect to which such individual may be entitled to indemnification by us. There are no pending legal proceedings that involve the indemnification of any of the Company’s directors or officers. | |
Contingencies Related to Third-Party Review | |
From time to time, we are subject to potential claims and assessments from third parties. We are also subject to various governmental, client and vendor audits. We continually assess whether or not such claims have merit and warrant accrual. Where appropriate, we accrue estimates of anticipated liabilities in the consolidated financial statements. Such estimates are subject to change and may affect our results of operations and our cash flows. | |
Legal Proceedings | |
We are party to various legal proceedings arising in the ordinary course of business, including preference payment claims asserted in client bankruptcy proceedings, indemnification claims, claims of alleged infringement of patents, trademarks, copyrights and other intellectual property rights, claims of alleged non-compliance with contract provisions and claims related to alleged violations of laws and regulations. Many of these proceeding are at preliminary stages, and many of these proceedings seek an indeterminate amount of damages. We regularly evaluate the status of the legal proceedings in which we are involved to assess whether a loss is probable or there is a reasonable possibility that a loss, or an additional loss, may have been incurred and determine if accruals are appropriate. If accruals are not appropriate, we further evaluate each legal proceeding to assess whether an estimate of possible loss or range of possible loss can be made for disclosure. Although litigation is inherently unpredictable, we believe that we have adequate provisions for any probable and estimable losses. It is possible, nevertheless, that our consolidated financial position, results of operations or liquidity could be materially and adversely affected in any particular period by the resolution of a legal proceeding. Legal expenses related to defense, negotiations, settlements, rulings and advice of outside legal counsel are expensed as incurred. | |
In August 2010, in connection with an investigation being conducted by the United States Department of Justice (the “DOJ”), our subsidiary, Calence, LLC, received a subpoena from the Office of the Inspector General of the Federal Communications Commission requesting documents and information related to the expenditure of funds under the E-Rate program, which provides schools and libraries with discounts to obtain affordable telecommunications and internet access and related hardware and software. We have completed our response to the subpoena. The basis of the investigation is a qui tam lawsuit filed in the United States District Court for the Southern District of Texas by a contractor who provided services to the former owners of Calence. The lawsuit, designated United States ex rel. Shupe v. Cisco Systems, Inc., Avnet, Inc. and Calence, LLC, was first filed in January 2010 and was unsealed in June 2012, and an amended complaint was filed and served in September 2012. The amended complaint alleged violations of the False Claims Act and sought various remedies including treble damages and civil penalties. In connection with the unsealing of the complaint, the DOJ filed a notice with the court declining to intervene in the qui tam action. However, that filing should not be viewed as a final assessment by the DOJ of the merits of this qui tam action. In November 2012, the Company filed a motion to dismiss the amended complaint, and that motion was granted in an order from the District Court in May 2013; however, motions to dismiss filed by the other defendants were denied in the May 2013 order. The Court gave the plaintiff leave to amend, and the plaintiff filed a second amended complaint in May 2013. In June 2013, the defendants filed a petition with the United States Court of Appeals for the Fifth Circuit for review of the May 2013 order, in July 2013 the Fifth Circuit granted the defendants’ petition to file an appeal, which has been filed and fully briefed, and the proceedings in the District Court are now stayed pending the resolution of the appeal. The claims in the second amended complaint are similar to the claims in the dismissed complaint. The Company disputes the claims and intends to defend the lawsuit vigorously. Based on the limited information currently available, the Company is not able to estimate what the possible loss or range of loss might be, if any. The Company is pursuing its rights under the Calence acquisition agreements to indemnification for losses that may arise out of or result from this matter, including our fees and expenses for responding to the subpoena and defending the lawsuit. We have recovered a substantial portion of our fees to date and continue to pursue our indemnification claims. During the year ended December 31, 2012, the Company recovered approximately $2,000,000 of legal costs incurred in previous periods. | |
Aside from the matter discussed above, the Company is not involved in any pending or threatened legal proceedings that it believes could reasonably be expected to have a material adverse effect on its financial condition, results of operations or liquidity. |
Supplemental_Financial_Informa
Supplemental Financial Information | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||
Supplemental Financial Information | ' | ||||||||||||||||
(17) Supplemental Financial Information | |||||||||||||||||
A summary of additions and deductions related to the allowance for doubtful accounts receivable for the years ended December 31, 2013, 2012 and 2011 follows (in thousands): | |||||||||||||||||
Balance at | Additions | Deductions | Balance at | ||||||||||||||
Beginning | End of Year | ||||||||||||||||
of Year | |||||||||||||||||
Allowance for doubtful accounts receivable: | |||||||||||||||||
Year ended December 31, 2013 | $ | 18,905 | $ | 4,696 | $ | (3,693 | ) | $ | 19,908 | ||||||||
Year ended December 31, 2012 | $ | 18,803 | $ | 4,195 | $ | (4,093 | ) | $ | 18,905 | ||||||||
Year ended December 31, 2011 | $ | 17,540 | $ | 4,267 | $ | (3,004 | ) | $ | 18,803 | ||||||||
Segment_and_Geographic_Informa
Segment and Geographic Information | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Segment and Geographic Information | ' | ||||||||||||||||
(18) Segment and Geographic Information | |||||||||||||||||
We operate in three reportable geographic operating segments: North America; EMEA; and APAC. Currently, our offerings in North America and select countries in EMEA include IT hardware, software and services. Our offerings in the remainder of our EMEA segment and in APAC are almost entirely software and select software-related services. Net sales by product or service type for North America, EMEA and APAC were as follows for the years ended December 31, 2013, 2012 and 2011 (in thousands): | |||||||||||||||||
North America | |||||||||||||||||
Years Ended December 31, | |||||||||||||||||
Sales Mix | 2013 | 2012 | 2011 | ||||||||||||||
Hardware | $ | 2,130,006 | $ | 2,238,363 | $ | 2,334,257 | |||||||||||
Software | 1,129,114 | 1,177,538 | 1,095,532 | ||||||||||||||
Services | 211,640 | 210,456 | 242,703 | ||||||||||||||
$ | 3,470,760 | $ | 3,626,357 | $ | 3,672,492 | ||||||||||||
EMEA | |||||||||||||||||
Years Ended December 31, | |||||||||||||||||
Sales Mix | 2013 | 2012 | 2011 | ||||||||||||||
Hardware | $ | 504,006 | $ | 540,886 | $ | 438,171 | |||||||||||
Software | 930,903 | 894,949 | 936,543 | ||||||||||||||
Services | 34,265 | 27,772 | 23,707 | ||||||||||||||
$ | 1,469,174 | $ | 1,463,607 | $ | 1,398,421 | ||||||||||||
APAC | |||||||||||||||||
Years Ended December 31, | |||||||||||||||||
Sales Mix | 2013 | 2012 | 2011 | ||||||||||||||
Hardware | $ | 6,222 | $ | 4,820 | $ | 1,647 | |||||||||||
Software | 191,355 | 199,239 | 208,200 | ||||||||||||||
Services | 6,836 | 7,418 | 6,468 | ||||||||||||||
$ | 204,413 | $ | 211,477 | $ | 216,315 | ||||||||||||
The method for determining what information regarding operating segments, products and services, geographic areas of operation and major clients to report is based upon the “management approach,” or the way that management organizes the operating segments within a company, for which separate financial information is evaluated regularly by the Chief Operating Decision Maker (“CODM”) in deciding how to allocate resources. Our CODM is our Chief Executive Officer. | |||||||||||||||||
All significant intercompany transactions are eliminated upon consolidation, and there are no differences between the accounting policies used to measure profit and loss for our segments or on a consolidated basis. Net sales are defined as net sales to external clients. Sales to the U.S. federal government, which are diversified across multiple agencies and departments, collectively accounted for approximately 10% of our 2013 net sales. However, there are several independent purchasing decision-makers across these agencies and departments. Excluding these sales to the federal government, none of our clients exceeded ten percent of consolidated net sales for the year ended December 31, 2013. | |||||||||||||||||
A portion of our operating segments’ selling and administrative expenses arise from shared services and infrastructure that we have historically provided to them in order to realize economies of scale and to use resources efficiently. These expenses, collectively identified as corporate charges, include senior management expenses, internal audit, legal, tax, insurance services, treasury and other corporate infrastructure expenses. Charges are allocated to our operating segments, and the allocations have been determined on a basis that we considered to be a reasonable reflection of the utilization of services provided to or benefits received by the operating segments. | |||||||||||||||||
The tables below present information about our reportable operating segments as of and for the years ended December 31, 2013, 2012 and 2011 (in thousands): | |||||||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||
North | EMEA | APAC | Consolidated | ||||||||||||||
America | |||||||||||||||||
Net sales | $ | 3,470,760 | $ | 1,469,174 | $ | 204,413 | $ | 5,144,347 | |||||||||
Costs of goods sold | 2,998,573 | 1,277,850 | 169,037 | 4,445,460 | |||||||||||||
Gross profit | 472,187 | 191,324 | 35,376 | 698,887 | |||||||||||||
Operating expenses: | |||||||||||||||||
Selling and administrative expenses | 362,380 | 178,012 | 24,518 | 564,910 | |||||||||||||
Severance and restructuring expenses | 3,325 | 9,415 | — | 12,740 | |||||||||||||
Earnings from operations | $ | 106,482 | $ | 3,897 | $ | 10,858 | $ | 121,237 | |||||||||
Total assets | $ | 1,645,393 | $ | 577,448 | $ | 125,322 | $ | 2,348,163 | * | ||||||||
Year Ended December 31, 2012 | |||||||||||||||||
North | EMEA | APAC | Consolidated | ||||||||||||||
America | |||||||||||||||||
Net sales | $ | 3,626,357 | $ | 1,463,607 | $ | 211,477 | $ | 5,301,441 | |||||||||
Costs of goods sold | 3,147,835 | 1,259,762 | 174,168 | 4,581,765 | |||||||||||||
Gross profit | 478,522 | 203,845 | 37,309 | 719,676 | |||||||||||||
Operating expenses: | |||||||||||||||||
Selling and administrative expenses | 359,634 | 179,979 | 25,593 | 565,206 | |||||||||||||
Severance and restructuring expenses | 2,834 | 3,483 | — | 6,317 | |||||||||||||
Earnings from operations | $ | 116,054 | $ | 20,383 | $ | 11,716 | $ | 148,153 | |||||||||
Total assets | $ | 1,749,890 | $ | 538,968 | $ | 130,673 | $ | 2,419,531 | * | ||||||||
Year Ended December 31, 2011 | |||||||||||||||||
North | EMEA | APAC | Consolidated | ||||||||||||||
America | |||||||||||||||||
Net sales | $ | 3,672,492 | $ | 1,398,421 | $ | 216,315 | $ | 5,287,228 | |||||||||
Costs of goods sold | 3,195,716 | 1,200,348 | 182,007 | 4,578,071 | |||||||||||||
Gross profit | 476,776 | 198,073 | 34,308 | 709,157 | |||||||||||||
Operating expenses: | |||||||||||||||||
Selling and administrative expenses | 366,811 | 165,262 | 24,616 | 556,689 | |||||||||||||
Severance and restructuring expenses | 2,380 | 2,705 | — | 5,085 | |||||||||||||
Earnings from operations | $ | 107,585 | $ | 30,106 | $ | 9,692 | $ | 147,383 | |||||||||
Total assets | $ | 1,536,690 | $ | 535,116 | $ | 128,028 | $ | 2,199,834 | * | ||||||||
* | Consolidated total assets do not reflect intercompany eliminations and corporate assets of $480,445,000, $418,028,000 and $342,223,000 at December 31, 2013, 2012 and 2011, respectively. | ||||||||||||||||
The following is a summary of our geographic net sales and long-lived assets, consisting of property and equipment, net (in thousands): | |||||||||||||||||
United States | Foreign | Total | |||||||||||||||
2013 | |||||||||||||||||
Net sales | $ | 3,281,403 | $ | 1,862,944 | $ | 5,144,347 | |||||||||||
Total long-lived assets | $ | 91,768 | $ | 41,052 | $ | 132,820 | |||||||||||
2012 | |||||||||||||||||
Net sales | $ | 3,398,516 | $ | 1,902,925 | $ | 5,301,441 | |||||||||||
Total long-lived assets | $ | 104,431 | $ | 39,082 | $ | 143,513 | |||||||||||
2011 | |||||||||||||||||
Net sales | $ | 3,447,541 | $ | 1,839,687 | $ | 5,287,228 | |||||||||||
Total long-lived assets | $ | 105,338 | $ | 35,367 | $ | 140,705 | |||||||||||
Foreign net sales and total long-lived assets summarized above for 2013, 2012 and 2011 include net sales and net property and equipment of $656,559,000 and $23,687,000; $686,047,000 and $23,616,000; and $701,823,000 and $20,834,000, respectively, attributed to the United Kingdom. Net sales by geographic area are presented by attributing net sales to external customers based on the domicile of the selling location. | |||||||||||||||||
We recorded the following pre-tax amounts, by operating segment, for depreciation and amortization, in the accompanying consolidated financial statements (in thousands): | |||||||||||||||||
Years Ended December 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
North America | $ | 31,815 | $ | 32,457 | $ | 31,251 | |||||||||||
EMEA | 8,608 | 7,803 | 7,071 | ||||||||||||||
APAC | 1,121 | 917 | 817 | ||||||||||||||
Total | $ | 41,544 | $ | 41,177 | $ | 39,139 | |||||||||||
Selected_Quarterly_Financial_I
Selected Quarterly Financial Information | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||||||
Selected Quarterly Financial Information | ' | ||||||||||||||||||||||||||||||||
(19) Selected Quarterly Financial Information (unaudited) | |||||||||||||||||||||||||||||||||
The following table sets forth selected unaudited consolidated quarterly financial information for the years ended December 31, 2013 and 2012 (in thousands, except per share data): | |||||||||||||||||||||||||||||||||
Quarters Ended | |||||||||||||||||||||||||||||||||
Dec. 31, | Sept. 30, | June 30, | Mar. 31, | Dec. 31, | Sept. 30, | June 30, | Mar. 31, | ||||||||||||||||||||||||||
2013 | 2013 | 2013 | 2013 | 2012 | 2012 | 2012 | 2012 | ||||||||||||||||||||||||||
Net sales | $ | 1,395,158 | $ | 1,151,020 | $ | 1,416,547 | $ | 1,181,622 | $ | 1,346,675 | $ | 1,181,409 | $ | 1,529,175 | $ | 1,244,182 | |||||||||||||||||
Costs of goods sold | 1,214,003 | 982,352 | 1,225,620 | 1,023,485 | 1,166,282 | 1,013,784 | 1,327,889 | 1,073,810 | |||||||||||||||||||||||||
Gross profit | 181,155 | 168,668 | 190,927 | 158,137 | 180,393 | 167,625 | 201,286 | 170,372 | |||||||||||||||||||||||||
Operating expenses: | |||||||||||||||||||||||||||||||||
Selling and administrative expenses | 140,799 | 139,965 | 143,158 | 140,988 | 141,952 | 136,259 | 143,601 | 143,394 | |||||||||||||||||||||||||
Severance and restructuring expenses | 4,413 | 2,424 | 3,171 | 2,732 | 1,861 | 705 | 2,377 | 1,374 | |||||||||||||||||||||||||
Earnings from operations | 35,943 | 26,279 | 44,598 | 14,417 | 36,580 | 30,661 | 55,308 | 25,604 | |||||||||||||||||||||||||
Non-operating (income) expense: | |||||||||||||||||||||||||||||||||
Interest income | (259 | ) | (322 | ) | (337 | ) | (312 | ) | (340 | ) | (489 | ) | (288 | ) | (351 | ) | |||||||||||||||||
Interest expense | 1,560 | 1,603 | 1,556 | 1,618 | 1,351 | 1,702 | 1,490 | 1,558 | |||||||||||||||||||||||||
Gain on bargain purchase | — | — | — | — | — | — | — | (2,022 | ) | ||||||||||||||||||||||||
Net foreign currency exchange loss (gain) | 445 | 474 | (886 | ) | 161 | 409 | 426 | (470 | ) | (828 | ) | ||||||||||||||||||||||
Other expense, net | 332 | 364 | 342 | 374 | 385 | 319 | 389 | 244 | |||||||||||||||||||||||||
Earnings before income taxes | 33,865 | 24,160 | 43,923 | 12,576 | 34,775 | 28,703 | 54,187 | 27,003 | |||||||||||||||||||||||||
Income tax expense | 13,458 | 9,135 | 17,410 | 3,500 | 14,008 | 9,349 | 18,937 | 9,611 | |||||||||||||||||||||||||
Net earnings | $ | 20,407 | $ | 15,025 | $ | 26,513 | $ | 9,076 | $ | 20,767 | $ | 19,354 | $ | 35,250 | $ | 17,392 | |||||||||||||||||
Net earnings per share: | |||||||||||||||||||||||||||||||||
Basic | $ | 0.48 | $ | 0.35 | $ | 0.62 | $ | 0.2 | $ | 0.47 | $ | 0.43 | $ | 0.79 | $ | 0.39 | |||||||||||||||||
Diluted | $ | 0.48 | $ | 0.35 | $ | 0.62 | $ | 0.2 | $ | 0.46 | $ | 0.43 | $ | 0.79 | $ | 0.39 | |||||||||||||||||
Operations_and_Summary_of_Sign1
Operations and Summary of Significant Accounting Policies (Policies) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Description of Business | ' | ||||||||||||
Description of Business | |||||||||||||
We are a leading worldwide information technology (“IT”) provider of hardware, software and services solutions to businesses and public sector clients in North America, Europe, the Middle East, Africa and Asia-Pacific. The Company is organized in the following three operating segments, which are primarily defined by their related geographies: | |||||||||||||
Operating Segment | Geography | ||||||||||||
North America | United States and Canada | ||||||||||||
EMEA | Europe, Middle East and Africa | ||||||||||||
APAC | Asia-Pacific | ||||||||||||
Currently, our offerings in North America and select countries in EMEA include IT hardware, software and services. Our offerings in the remainder of our EMEA segment and in APAC are almost entirely software and select software-related services. | |||||||||||||
Acquisitions | |||||||||||||
On October 1, 2011, we acquired Ensynch, Incorporated, (“Ensynch”), a Tempe, Arizona-based professional services firm with multiple Microsoft Gold competencies across the complete Microsoft solution set, including cloud migration and management, for a cash purchase price of $13,769,000, net of cash acquired. | |||||||||||||
On February 1, 2012, we acquired Inmac GmbH and Micro Warehouse BV (“Inmac”), a broad portfolio business-to-business hardware reseller based in Frankfurt, Germany and Amsterdam, Netherlands servicing clients in Western Europe, for a cash purchase price, net of cash acquired, of $3,831,000. Our EMEA operating segment recognized a non-operating gain on bargain purchase of $2,022,000 during 2012 as the fair value of the net assets acquired exceeded the purchase price. Prior to recognizing the gain on bargain purchase, we reassessed the assets acquired and liabilities assumed in the acquisition. | |||||||||||||
Principles of Consolidation and Presentation | ' | ||||||||||||
Principles of Consolidation and Presentation | |||||||||||||
The consolidated financial statements include the accounts of Insight Enterprises, Inc. and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. References to “the Company,” “Insight,” “we,” “us,” “our” and other similar words refer to Insight Enterprises, Inc. and its consolidated subsidiaries, unless the context suggests otherwise. | |||||||||||||
Use of Estimates | ' | ||||||||||||
Use of Estimates | |||||||||||||
The preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements. Additionally, these estimates and assumptions affect the reported amounts of net sales and expenses during the reporting period. Actual results could differ from those estimates. On an ongoing basis, we evaluate our estimates, including those related to sales recognition, anticipated achievement levels under partner funding programs, assumptions related to stock-based compensation valuation, allowances for doubtful accounts, valuation of inventories, litigation-related obligations, valuation allowances for deferred tax assets and impairment of long-lived assets, including purchased intangibles and goodwill, if indicators of potential impairment exist. | |||||||||||||
Cash and Cash Equivalents | ' | ||||||||||||
Cash and Cash Equivalents | |||||||||||||
We consider all highly liquid investments with maturities at the date of purchase of three months or less to be cash equivalents. | |||||||||||||
Book overdrafts represent the amount by which outstanding checks issued, but not yet presented to our banks for disbursement, exceed balances on deposit in applicable bank accounts and a legal right of offset with our positive cash balances in other financial institution accounts does not exist. Our book overdrafts, which are not directly linked to a credit facility or other bank overdraft arrangement, do not result in an actual bank financing, but rather constitute normal unpaid trade payables at the end of a reporting period. These amounts are included within our accounts payable balance in our consolidated balance sheets. The changes in these book overdrafts are included within the changes in accounts payable line item as a component of cash flows from operating activities in our consolidated statements of cash flows. | |||||||||||||
Allowance for Doubtful Accounts | ' | ||||||||||||
Allowance for Doubtful Accounts | |||||||||||||
We establish an allowance for doubtful accounts using estimated losses on accounts receivable based on evaluation of the aging of the receivables, historical write-offs and the current economic environment. We write off individual accounts against the reserve when we become aware of a client’s or vendor’s inability to meet its financial obligations, such as in the case of bankruptcy filings, or deterioration in the client’s or vendor’s operating results or financial position. | |||||||||||||
Inventories | ' | ||||||||||||
Inventories | |||||||||||||
We state inventories, principally purchased IT hardware, at the lower of weighted average cost (which approximates cost under the first-in, first-out method) or market. We evaluate inventories for excess, obsolescence or other factors that may render inventories unmarketable at normal margins. Write-downs are recorded so that inventories reflect the approximate net realizable value and take into account contractual provisions with our partners governing price protection, stock rotation and return privileges relating to obsolescence. | |||||||||||||
Inventories not available for sale relate to product sales transactions in which we are warehousing the product and will be deploying the product to clients’ designated locations subsequent to period-end. Additionally, we may perform services on a portion of the product prior to shipment to our clients and will be paid a fee for doing so. Although these product contracts are non-cancelable with customary credit terms beginning the date the inventories are segregated in our warehouse and invoiced to the client and the warranty periods begin on the date of invoice, these transactions do not meet the sales recognition criteria under GAAP. Therefore, we do not record sales and the inventories are classified as “Inventories not available for sale” on our consolidated balance sheet until the product is delivered. If clients remit payment before we deliver product to them, we record the payments received as “deferred revenue” on our consolidated balance sheet until such time as the product is delivered. | |||||||||||||
Property and Equipment | ' | ||||||||||||
Property and Equipment | |||||||||||||
We record property and equipment at cost. We capitalize major improvements and betterments, while maintenance, repairs and minor replacements are expensed as incurred. Depreciation or amortization is provided using the straight-line method over the following estimated economic lives of the assets: | |||||||||||||
Estimated Economic Life | |||||||||||||
Leasehold improvements | Shorter of underlying lease | ||||||||||||
term or asset life | |||||||||||||
Furniture and fixtures | 2 – 7 years | ||||||||||||
Equipment | 3 – 5 years | ||||||||||||
Software | 3 – 10 years | ||||||||||||
Buildings | 29 years | ||||||||||||
Costs incurred to develop internal-use software during the application development stage, including capitalized interest, are recorded in property and equipment at cost. External direct costs of materials and services consumed in developing or obtaining internal-use computer software and payroll and payroll-related costs for teammates who are directly associated with and who devote time to internal-use computer software development projects, to the extent of the time spent directly on the project and specific to application development, are capitalized. | |||||||||||||
Our capital lease assets (see Note 6) are amortized on a straight-line basis over the lease term. The related amortization expense is included in selling and administrative expenses in our consolidated statements of operations. | |||||||||||||
Reviews are regularly performed to determine whether facts and circumstances exist which indicate that the useful life is shorter than originally estimated or the carrying amount of assets may not be recoverable. When an indication exists that the carrying amount of long-lived assets may not be recoverable, we assess the recoverability of our assets by comparing the projected undiscounted net cash flows associated with the related asset or group of assets over their remaining lives against their respective carrying amounts. Such impairment test is based on the lowest level for which identifiable cash flows are largely independent of the cash flows of other groups of assets and liabilities. Impairment, if any, is based on the excess of the carrying amount over the estimated fair value of those assets. | |||||||||||||
Goodwill | ' | ||||||||||||
Goodwill | |||||||||||||
Goodwill is recorded when the purchase price paid for an acquisition exceeds the estimated fair value of net identified tangible and intangible assets acquired. Goodwill is tested for impairment at the reporting unit level on an annual basis in the fourth quarter and between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value of the reporting unit below its carrying value. We may first perform a qualitative assessment to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. If it is concluded that this is the case, it is necessary to perform a quantitative two-step goodwill impairment test. Otherwise, the two-step goodwill impairment test is not required. The quantitative two-step goodwill impairment review process compares the fair value of the reporting unit in which goodwill resides to its carrying value. The Company has three reporting units, which are the same as our operating segments. Multiple valuation techniques can be used to assess the fair value of the reporting unit. All of these techniques include the use of estimates and assumptions that are inherently uncertain. Changes in these estimates and assumptions could materially affect the determination of fair value or goodwill impairment, or both. | |||||||||||||
Intangible Assets | ' | ||||||||||||
Intangible Assets | |||||||||||||
We amortize intangible assets acquired in business combinations using the straight-line method over the following estimated economic lives of the intangible assets from the date of acquisition: | |||||||||||||
Estimated Economic Life | |||||||||||||
Customer relationships | 2 – 11 years | ||||||||||||
Other | 9 months – 3 years | ||||||||||||
We regularly perform reviews to determine if facts and circumstances exist which indicate that the useful lives of our long-lived assets are shorter than originally estimated or the carrying amount of these assets may not be recoverable. When an indication exists that the carrying amount of intangible assets may not be recoverable, we assess the recoverability of our assets by comparing the projected undiscounted net cash flows associated with the related asset or group of assets over their remaining lives against their respective carrying amounts. Such impairment test is based on the lowest level for which identifiable cash flows are largely independent of the cash flows of other groups of assets and liabilities. Impairment, if any, is based on the excess of the carrying amount over the estimated fair value of those assets. | |||||||||||||
Trade Credits | ' | ||||||||||||
Trade Credits | |||||||||||||
Trade credit liabilities arise from aged unclaimed credit memos, duplicate payments, payments for returned product or overpayments made to us by our clients, and, to a lesser extent, from goods received by us from a supplier for which we were never invoiced. Trade credit liabilities are included in accrued expenses and other current liabilities in our consolidated balance sheet. We derecognize the liability if and only if it has been extinguished, upon either (1) our payment of the liability to relieve our obligation or (2) our legal release from the related obligation. During the years ended December 31, 2013, 2012 and 2011, $2,379,000, $4,492,000 and $4,292,000, respectively, was recorded as a reduction of costs of goods sold as result of the negotiated settlement or other legal release of trade credits. | |||||||||||||
Self Insurance | ' | ||||||||||||
Self Insurance | |||||||||||||
We are self-insured in the U.S. for medical insurance up to certain annual stop-loss limits and workers’ compensation claims up to certain deductible limits. We establish reserves for claims, both reported and incurred but not reported, using currently available information as well as our historical claims experience. | |||||||||||||
Foreign Currencies | ' | ||||||||||||
Foreign Currencies | |||||||||||||
We use the U.S. dollar as our reporting currency. The functional currencies of our significant foreign subsidiaries are generally the local currencies. Accordingly, assets and liabilities of the subsidiaries are translated into U.S. dollars at the exchange rate in effect at the balance sheet dates. Income and expense items are translated at the average exchange rate for each month within the year. The resulting translation adjustments are recorded directly in accumulated other comprehensive income as a separate component of stockholders’ equity. Net foreign currency transaction gains/losses, including transaction gains/losses on intercompany balances that are not of a long-term investment nature and non-functional currency cash balances, are reported as a separate component of non-operating (income) expense in our consolidated statements of operations. | |||||||||||||
Derivative Financial Instruments | ' | ||||||||||||
Derivative Financial Instruments | |||||||||||||
We enter into forward foreign exchange contracts to mitigate the risk of non-functional currency monetary assets and liabilities on our consolidated financial statements. These forward contracts are not designated as hedge instruments. The fair value of all derivative assets and liabilities are recorded gross in the other current assets and accrued expenses and other current liabilities sections of the balance sheet. Gains/losses are recorded net in non-operating (income) expense in our consolidated statements of operations. | |||||||||||||
Treasury Stock | ' | ||||||||||||
Treasury Stock | |||||||||||||
We record repurchases of our common stock as treasury stock at cost. We also record the subsequent retirement of these treasury shares at cost. The excess of the cost of the shares retired over their par value is allocated between additional paid-in capital and retained earnings. The amount recorded as a reduction of paid-in capital is based on the excess of the average original issue price of the shares over par value. The remaining amount is recorded as a reduction of retained earnings. | |||||||||||||
Sales Recognition | ' | ||||||||||||
Sales Recognition | |||||||||||||
Sales are recognized when title and risk of loss are passed to the client, there is persuasive evidence of an arrangement for sale, delivery has occurred and/or services have been rendered, the sales price is fixed or determinable and collectibility is reasonably assured. Our standard sales terms are F.O.B. shipping point or equivalent, at which time title and risk of loss have passed to the client. However, because we either (i) have a general practice of covering client losses while products are in transit despite title and risk of loss contractually transferring at the point of shipment or (ii) have specifically stated F.O.B. destination contractual terms with the client, delivery is not deemed to have occurred until the point in time when the product is received by the client. | |||||||||||||
We make provisions for estimated product returns that we expect to occur under our return policy based upon historical return rates. Our manufacturers warrant most of the products we market, and it is our policy to request that clients return their defective products directly to the manufacturer for warranty service. On selected products, and for selected client service reasons, we may accept returns directly from the client and then either credit the client or ship a replacement product. We generally offer a limited 15- to 30-day return policy for unopened products and certain opened products, which are consistent with manufacturers’ terms; however, for some products we may charge restocking fees. Products returned opened are processed and returned to the manufacturer or partner for repair, replacement or credit to us. We resell most unopened products returned to us. Subject to some manufacturers’ restrictions, products that cannot be returned to the manufacturer for warranty processing, but are in working condition, are sold to inventory liquidators, to end users as “previously sold” or “used” products, or through other channels to reduce our losses from returned products. | |||||||||||||
We record the freight we bill to our clients as net sales and the related freight costs we pay as costs of goods sold. We report sales net of any sales-based taxes assessed by governmental authorities that are imposed on and concurrent with sales transactions. | |||||||||||||
Revenue is recognized from software sales when clients acquire the right to use or copy software under license, but in no case prior to the commencement of the term of the initial software license agreement, provided that all other revenue recognition criteria have been met (i.e., evidence of the arrangement exists, the fee is fixed or determinable and collectibility of the fee is probable). | |||||||||||||
The sale of hardware and software products may also include the provision of services, and the associated contracts may contain multiple elements or non-standard terms and conditions. Services that are performed by us in conjunction with hardware and software sales that are completed in our facilities prior to shipment of the product are recognized upon delivery, when title passes to the client, for the hardware sale. Net sales of services that are performed at client locations are often service-only contracts and are recorded as sales when the services are performed. If the services are performed at a client location in conjunction with a hardware, software or other services sale, we recognize net sales for each portion of the overall arrangement fee that is attributable to the items as they are delivered or the services are performed. At the inception of the arrangement, the total consideration for the arrangement is allocated to all deliverables using the relative selling price method. The relative selling price method allocates any discount in the arrangement proportionately to each deliverable on the basis of each deliverable’s selling price. We determine our best estimate of selling price in a manner that is consistent with that used to determine the price to sell the deliverable on a standalone basis. The revenue allocation is based on vendor-specific objective evidence of fair value of the products. We currently do not have any material instances in which we account for revenue from multiple element arrangements when vendor-specific evidence does not exist. If vendor-specific objective evidence were not available, we would utilize third-party evidence to allocate the selling price. If neither vendor-specific objective evidence nor third-party evidence were available, estimated selling price would be used for allocation purposes. | |||||||||||||
We sell certain third-party service contracts and software maintenance or subscription products for which we are not the primary obligor. These sales do not meet the criteria for gross sales recognition, and thus are recorded on a net sales recognition basis. As we enter into contracts with third-party service providers or vendors and our clients, we evaluate whether the subsequent sales of such services should be recorded as gross sales or net sales. We determine whether we act as a principal in the transaction and assume the risks and rewards of ownership or if we are simply acting as an agent or broker. Under gross sales recognition, the selling price is recorded in sales and our cost to the third-party service provider or vendor is recorded in costs of goods sold. Under net sales recognition, the cost to the third-party service provider or vendor is recorded as a reduction to sales, resulting in net sales equal to the gross profit on the transaction, and there are no costs of goods sold. | |||||||||||||
We recognize revenue for sales of services ratably over the time period over which the service will be provided if there is no discernible pattern of recognition of the cost to perform the service. Billings for such services that are made in advance of the related revenue recognized are recorded as deferred revenue and recognized as revenue ratably over the billing coverage period. Revenue from certain arrangements that allow for the use of a product or service over a period of time without taking possession of software are also accounted for ratably over the time period over which the service will be provided. | |||||||||||||
We recognize revenue for professional services engagements that are on a time and materials basis based upon hours incurred as the services are performed and amounts are earned. | |||||||||||||
Additionally, we sell certain professional services contracts on a fixed fee basis. Revenues for fixed fee professional services contracts are recognized based on the ratio of costs incurred to total estimated costs. Net sales for these service contracts are not a significant portion of our consolidated net sales. | |||||||||||||
Costs of Goods Sold | ' | ||||||||||||
Costs of Goods Sold | |||||||||||||
Costs of goods sold include product costs, direct costs incurred associated with delivering services, outbound and inbound freight costs and provisions for inventory reserves. These costs are reduced by provisions for supplier discounts and certain payments and credits received from partners, as described under “Partner Funding” below. | |||||||||||||
Selling and Administrative Expenses | ' | ||||||||||||
Selling and Administrative Expenses | |||||||||||||
Selling and administrative expenses include salaries and wages, bonuses and incentives, stock-based compensation expense, employee-related expenses, facility-related expenses, marketing and advertising expense, reduced by certain payments and credits received from partners related to shared marketing expense programs, as described under “Partner Funding” below, depreciation of property and equipment, professional fees, amortization of intangible assets, provisions for losses on accounts receivable and other operating expenses. | |||||||||||||
Partner Funding | ' | ||||||||||||
Partner Funding | |||||||||||||
We receive payments and credits from partners, including consideration pursuant to volume sales incentive programs, volume purchase incentive programs and shared marketing expense programs. Partner funding received pursuant to volume sales incentive programs is recognized as it is earned as a reduction to costs of goods sold. Partner funding received pursuant to volume purchase incentive programs is allocated as a reduction to inventories based on the applicable incentives earned from each partner and is recorded in cost of goods sold as the related inventory is sold. Partner funding received pursuant to shared marketing expense programs is recorded as it is earned as a reduction of the related selling and administrative expenses in the period the program takes place only if the consideration represents a reimbursement of specific, incremental, identifiable costs. Consideration that exceeds the specific, incremental, identifiable costs is classified as a reduction of costs of goods sold. The amount of partner funding recorded as a reduction of selling and administrative expenses in our statements of operations totaled $34,900,000, $30,714,000 and $28,269,000 for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||||
Concentrations of Risk | ' | ||||||||||||
Concentrations of Risk | |||||||||||||
Credit Risk | |||||||||||||
Although we are affected by the international economic climate, management does not believe material credit risk concentration existed at December 31, 2013. We monitor our clients’ financial condition and do not require collateral. Sales to the U.S. federal government, which are diversified across multiple agencies and departments, collectively accounted for approximately 10% of our 2013 net sales. However, there are several independent purchasing decision-makers across these agencies and departments. Excluding these sales to the federal government, we are not reliant on any one client. No single client accounted for more than 3% of our consolidated net sales in 2013. | |||||||||||||
Supplier Risk | |||||||||||||
Purchases from Microsoft accounted for approximately 30% of our aggregate purchases in 2013. No other partner accounted for more than 10% of purchases in 2013. Our top five partners as a group for 2013 were Microsoft, Cisco, Ingram Micro (a distributor), HP and Tech Data (a distributor), and approximately 63% of our total purchases during 2013 came from this group of partners. Although brand names and individual products are important to our business, we believe that competitive sources of supply are available in substantially all of our product categories such that, with the exception of Microsoft, we are not dependent on any single partner for sourcing products. | |||||||||||||
Advertising Costs | ' | ||||||||||||
Advertising Costs | |||||||||||||
Advertising costs are expensed as they are incurred. Advertising expense of $29,394,000, $27,632,000 and $26,439,000 was recorded for the years ended December 31, 2013, 2012 and 2011, respectively. These amounts were partially offset by partner funding earned pursuant to shared marketing expense programs recorded as a reduction of selling and administrative expenses, as discussed above. | |||||||||||||
Stock-Based Compensation | ' | ||||||||||||
Stock-Based Compensation | |||||||||||||
Stock-based compensation is measured based on the fair value of the award on the date of grant and the corresponding expense is recognized over the period during which an employee is required to provide service in exchange for the reward. Stock-based compensation expense is classified in the same line item of the consolidated statements of operations as other payroll-related expenses specific to the employee. Compensation expense related to service-based restricted stock units (“RSUs”) is recognized on a straight-line basis over the requisite service period for the entire award. Compensation expense related to performance-based RSUs is recognized on a straight-line basis over the requisite service period for each separately vesting portion of the award as if the award was, in-substance, multiple awards (i.e., a graded vesting basis). | |||||||||||||
Income Taxes | ' | ||||||||||||
Income Taxes | |||||||||||||
Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable earnings in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in earnings in the period that includes the enactment date. | |||||||||||||
We recognize net deferred tax assets to the extent that we believe these assets are more likely than not to be realized. In making such a determination, we consider all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies and results of recent operations. If we determine that we would be able to realize our deferred tax assets in the future in excess of their net recorded amount, we would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes. | |||||||||||||
We record uncertain tax positions on the basis of a two-step process whereby (1) we determine whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold, we recognize the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority. Interest and penalties related to unrecognized tax benefits are recognized within the income tax expense line in the accompanying consolidated statements of operations. Accrued interest and penalties are included within the related tax liability line in the accompanying consolidated balance sheets. | |||||||||||||
Net Earnings Per Share ("EPS") | ' | ||||||||||||
Net Earnings Per Share (“EPS”) | |||||||||||||
Basic EPS is computed by dividing net earnings available to common stockholders by the weighted-average number of common shares outstanding during each year. Diluted EPS is computed on the basis of the weighted average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Dilutive potential common shares include outstanding stock options and restricted stock units. A reconciliation of the denominators of the basic and diluted EPS calculations follows (in thousands, except per share data): | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Numerator: | |||||||||||||
Net earnings | $ | 71,021 | $ | 92,763 | $ | 100,235 | |||||||
Denominator: | |||||||||||||
Weighted-average shares used to compute basic EPS | 43,012 | 44,413 | 45,474 | ||||||||||
Potential dilutive common shares due to dilutive stock options and restricted stock units | 277 | 421 | 547 | ||||||||||
Weighted-average shares used to compute diluted EPS | 43,289 | 44,834 | 46,021 | ||||||||||
Net earnings per share: | |||||||||||||
Basic | $ | 1.65 | $ | 2.09 | $ | 2.2 | |||||||
Diluted | $ | 1.64 | $ | 2.07 | $ | 2.18 | |||||||
For the years ended December 31, 2013, 2012 and 2011, approximately 177,000, 295,000 and 9,000, respectively, of our restricted stock units were not included in the diluted EPS calculations because their inclusion would have been anti-dilutive. For the year ended December 31, 2011, approximately 208,000 of our then outstanding stock options were not included in the diluted EPS calculations because the exercise prices of these options were greater than the average market price of our common stock during the respective periods. | |||||||||||||
Recently Issued Accounting Standards | ' | ||||||||||||
Recently Issued Accounting Standards | |||||||||||||
There are no recently issued accounting standards that are expected to have a material effect on our consolidated financial position or results of operations. |
Operations_and_Summary_of_Sign2
Operations and Summary of Significant Accounting Policies (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Estimated Economic Lives of Property and Equipment | ' | ||||||||||||
We record property and equipment at cost. We capitalize major improvements and betterments, while maintenance, repairs and minor replacements are expensed as incurred. Depreciation or amortization is provided using the straight-line method over the following estimated economic lives of the assets: | |||||||||||||
Estimated Economic Life | |||||||||||||
Leasehold improvements | Shorter of underlying lease | ||||||||||||
term or asset life | |||||||||||||
Furniture and fixtures | 2 – 7 years | ||||||||||||
Equipment | 3 – 5 years | ||||||||||||
Software | 3 – 10 years | ||||||||||||
Buildings | 29 years | ||||||||||||
Estimated Economic Life of Acquired Amortizable Intangible Assets | ' | ||||||||||||
We amortize intangible assets acquired in business combinations using the straight-line method over the following estimated economic lives of the intangible assets from the date of acquisition: | |||||||||||||
Estimated Economic Life | |||||||||||||
Customer relationships | 2 – 11 years | ||||||||||||
Other | 9 months – 3 years | ||||||||||||
Reconciliation of Denominators of Basic and Diluted EPS Calculations | ' | ||||||||||||
A reconciliation of the denominators of the basic and diluted EPS calculations follows (in thousands, except per share data): | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Numerator: | |||||||||||||
Net earnings | $ | 71,021 | $ | 92,763 | $ | 100,235 | |||||||
Denominator: | |||||||||||||
Weighted-average shares used to compute basic EPS | 43,012 | 44,413 | 45,474 | ||||||||||
Potential dilutive common shares due to dilutive stock options and restricted stock units | 277 | 421 | 547 | ||||||||||
Weighted-average shares used to compute diluted EPS | 43,289 | 44,834 | 46,021 | ||||||||||
Net earnings per share: | |||||||||||||
Basic | $ | 1.65 | $ | 2.09 | $ | 2.2 | |||||||
Diluted | $ | 1.64 | $ | 2.07 | $ | 2.18 | |||||||
Property_and_Equipment_Tables
Property and Equipment (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||
Property and Equipment | ' | ||||||||
Property and equipment consist of the following (in thousands): | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Software | $ | 154,756 | $ | 148,881 | |||||
Buildings | 77,287 | 76,254 | |||||||
Equipment | 84,845 | 80,625 | |||||||
Furniture and fixtures | 35,369 | 33,536 | |||||||
Leasehold improvements | 23,319 | 23,185 | |||||||
Land | 7,656 | 7,716 | |||||||
383,232 | 370,197 | ||||||||
Accumulated depreciation and amortization | (250,412 | ) | (226,684 | ) | |||||
Property and equipment, net | $ | 132,820 | $ | 143,513 | |||||
Goodwill_Tables
Goodwill (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||
Changes in Carrying Amount of Goodwill | ' | ||||||||||||||||
The carrying amount of goodwill as of December 31, 2013 and 2012 was as follows (in thousands): | |||||||||||||||||
North America | EMEA | APAC | Consolidated | ||||||||||||||
Goodwill | $ | 349,679 | $ | 151,439 | $ | 13,973 | $ | 515,091 | |||||||||
Accumulated impairment losses | (323,422 | ) | (151,439 | ) | (13,973 | ) | (488,834 | ) | |||||||||
$ | 26,257 | $ | — | $ | — | $ | 26,257 | ||||||||||
Intangible_Assets_Tables
Intangible Assets (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||
Summary of Intangible Assets, Net | ' | ||||||||
Intangible assets consist of the following (in thousands): | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Customer relationships | $ | 113,897 | $ | 113,761 | |||||
Other | 298 | 736 | |||||||
114,195 | 114,497 | ||||||||
Accumulated amortization | (78,430 | ) | (67,092 | ) | |||||
Intangible assets, net | $ | 35,765 | $ | 47,405 | |||||
Future Amortization Expenses | ' | ||||||||
Future amortization expense for the remaining unamortized balance is estimated as follows (in thousands): | |||||||||
Years Ending December 31, | Amortization Expense | ||||||||
2014 | $ | 11,462 | |||||||
2015 | 11,442 | ||||||||
2016 | 8,565 | ||||||||
2017 | 2,268 | ||||||||
2018 | 2,028 | ||||||||
Total amortization expense | $ | 35,765 | |||||||
Debt_Capital_Lease_Obligation_1
Debt, Capital Lease Obligation and Inventory Financing Facility (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Long-Term Debt | ' | ||||||||
Our long-term debt consists of the following (in thousands): | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Senior revolving credit facility | $ | 16,500 | $ | 33,000 | |||||
Accounts receivable securitization financing facility | 50,000 | 47,000 | |||||||
Capital lease obligation | 666 | 602 | |||||||
Total | 67,166 | 80,602 | |||||||
Less: current portion of obligation under capital lease | (217 | ) | (602 | ) | |||||
Less: current portion of revolving credit facilities | — | — | |||||||
Long-term debt | $ | 66,949 | $ | 80,000 | |||||
Leases_Tables
Leases (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Leases [Abstract] | ' | ||||
Future Minimum Lease Payments | ' | ||||
Future minimum lease payments under non-cancelable operating leases (with initial or remaining lease terms in excess of one year) as of December 31, 2013 are as follows (in thousands): | |||||
Years Ending December 31, | |||||
2014 | $ | 14,902 | |||
2015 | 13,097 | ||||
2016 | 8,617 | ||||
2017 | 6,593 | ||||
2018 | 5,636 | ||||
Thereafter | 9,479 | ||||
Total minimum lease payments | $ | 58,324 | |||
Severance_and_Restructuring_Ac1
Severance and Restructuring Activities (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
2013 Resource Actions [Member] | ' | ||||||||||||
Activity and Outstanding Obligation Related to Resource Actions | ' | ||||||||||||
The following table details the 2013 activity and the outstanding obligations related to the 2013 resource actions as of December 31, 2013 (in thousands): | |||||||||||||
North America | EMEA | Consolidated | |||||||||||
Severance costs | $ | 3,429 | $ | 9,603 | $ | 13,032 | |||||||
Foreign currency translation adjustments | — | 194 | 194 | ||||||||||
Cash payments | (2,206 | ) | (6,887 | ) | (9,093 | ) | |||||||
Balance at December 31, 2013 | $ | 1,223 | $ | 2,910 | $ | 4,133 | |||||||
2012 Resource Actions [Member] | ' | ||||||||||||
Activity and Outstanding Obligation Related to Resource Actions | ' | ||||||||||||
The following table details the 2013 activity and the outstanding obligations related to the 2012 resource actions as of December 31, 2013 (in thousands): | |||||||||||||
North America | EMEA | Consolidated | |||||||||||
Balance at December 31, 2012 | $ | 1,249 | $ | 1,391 | $ | 2,640 | |||||||
Foreign currency translation adjustments | — | 18 | 18 | ||||||||||
Adjustments | (104 | ) | (188 | ) | (292 | ) | |||||||
Cash payments | (658 | ) | (884 | ) | (1,542 | ) | |||||||
Balance at December 31, 2013 | $ | 487 | $ | 337 | $ | 824 | |||||||
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||
Pre-tax Amounts by Operating Segment for Stock-Based Compensation | ' | ||||||||||||
We recorded the following pre-tax amounts in selling and administrative expenses for stock-based compensation, by operating segment, in our consolidated financial statements (in thousands): | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
North America | $ | 5,118 | $ | 6,260 | $ | 5,779 | |||||||
EMEA | 1,061 | 2,030 | 1,908 | ||||||||||
APAC | 251 | 258 | 232 | ||||||||||
Total Consolidated | $ | 6,430 | $ | 8,548 | $ | 7,919 | |||||||
Summary of Restricted Stock Units | ' | ||||||||||||
The following table summarizes our RSU activity during the year ended December 31, 2013: | |||||||||||||
Number | Weighted Average | Fair Value | |||||||||||
Grant Date Fair Value | |||||||||||||
Nonvested at the beginning of year | 1,162,231 | $ | 17.66 | ||||||||||
Granted | 393,651 | $ | 20.43 | ||||||||||
Vested, including shares withheld to cover taxes | (580,924 | ) | $ | 16.07 | $ | 11,829,527 | (a) | ||||||
Forfeited | (163,393 | ) | $ | 19.38 | |||||||||
Nonvested at the end of year | 811,565 | $ | 19.91 | $ | 18,430,641 | (b) | |||||||
Expected to vest | 730,769 | $ | 16,595,764 | (b) | |||||||||
(a) | The fair value of vested RSUs represents the total pre-tax fair value, based on the closing stock price on the day of vesting, which would have been received by holders of RSUs had all such holders sold their underlying shares on that date. The aggregate intrinsic value for vested shares of restricted common stock and RSUs during 2012 and 2011 was $14,112,284 and $11,174,009, respectively. | ||||||||||||
(b) | The aggregate fair value of the nonvested RSUs and the RSUs expected to vest represents the total pre-tax fair value, based on our closing stock price of $22.71 as of December 31, 2013, which would have been received by holders of RSUs had all such holders sold their underlying shares on that date. |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Earnings Before Income Taxes | ' | ||||||||||||
Earnings before income taxes: | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
U.S. | $ | 95,481 | $ | 99,970 | $ | 87,436 | |||||||
Foreign | 19,043 | 44,698 | 54,253 | ||||||||||
$ | 114,524 | $ | 144,668 | $ | 141,689 | ||||||||
Income Tax Expense | ' | ||||||||||||
Income tax expense: | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Current: | |||||||||||||
U.S. Federal | $ | 27,782 | $ | 25,319 | $ | 18,410 | |||||||
U.S. State and local | 2,662 | 2,436 | 1,113 | ||||||||||
Foreign | 9,614 | 15,172 | 17,379 | ||||||||||
40,058 | 42,927 | 36,902 | |||||||||||
Deferred: | |||||||||||||
U.S. Federal | 4,039 | 7,785 | 4,440 | ||||||||||
U.S. State and local | 921 | (823 | ) | 2,042 | |||||||||
Foreign | (1,515 | ) | 2,016 | (1,930 | ) | ||||||||
3,445 | 8,978 | 4,552 | |||||||||||
$ | 43,503 | $ | 51,905 | $ | 41,454 | ||||||||
Schedule Reconciles Difference Between U.S. Federal Income Taxes at U.S. Statutory Rate and Our Income Tax Expense | ' | ||||||||||||
The following schedule reconciles the differences between the U.S. federal income taxes at the U.S. statutory rate and our income tax expense (dollars in thousands): | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Expected expense at U.S. statutory rate of 35% | $ | 40,083 | $ | 50,634 | $ | 49,591 | |||||||
Change resulting from: | |||||||||||||
State income tax expense, net of federal income tax benefit | 3,662 | 2,088 | 3,225 | ||||||||||
Audits and adjustments, net | (1,730 | ) | 2,424 | (665 | ) | ||||||||
Change in valuation allowance | 4,160 | 641 | (1,643 | ) | |||||||||
Foreign income taxed at different rates | (2,665 | ) | (3,823 | ) | (2,136 | ) | |||||||
Reorganization/recapitalization of foreign operations | — | — | (7,580 | ) | |||||||||
Non-deductible compensation | 275 | 485 | 512 | ||||||||||
Other, net | (282 | ) | (544 | ) | 150 | ||||||||
Income tax expense | $ | 43,503 | $ | 51,905 | $ | 41,454 | |||||||
Effective tax rate | 38 | % | 35.9 | % | 29.3 | % | |||||||
Significant Components of Deferred Tax Assets and Liabilities | ' | ||||||||||||
The significant components of deferred tax assets and liabilities are as follows (in thousands): | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Deferred tax assets: | |||||||||||||
Goodwill and other intangibles | $ | 59,828 | $ | 65,523 | |||||||||
Net operating losses | 16,489 | 13,571 | |||||||||||
Foreign tax credits | 12,651 | 12,244 | |||||||||||
Accruals | 10,243 | 10,154 | |||||||||||
Accounts receivable | 6,389 | 6,276 | |||||||||||
Stock-based compensation | 2,881 | 3,612 | |||||||||||
Inventories | 1,837 | 1,239 | |||||||||||
Deferred revenue | 567 | 952 | |||||||||||
Other | 320 | 1,285 | |||||||||||
Gross deferred tax assets | 111,205 | 114,856 | |||||||||||
Valuation allowance | (24,508 | ) | (20,176 | ) | |||||||||
Total deferred tax assets | 86,697 | 94,680 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Property and equipment | (11,803 | ) | (16,340 | ) | |||||||||
Prepaid expenses | (250 | ) | (252 | ) | |||||||||
Total deferred tax liabilities | (12,053 | ) | (16,592 | ) | |||||||||
Net deferred tax assets | $ | 74,644 | $ | 78,088 | |||||||||
Net Current and Non-Current Portions of Deferred Tax Assets and Liabilities | ' | ||||||||||||
The net current and non-current portions of deferred tax assets and liabilities are as follows (in thousands): | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Net current deferred tax asset | $ | 16,436 | $ | 16,387 | |||||||||
Net non-current deferred tax asset | 58,208 | 61,701 | |||||||||||
Net deferred tax asset | $ | 74,644 | $ | 78,088 | |||||||||
Change in Valuation Allowance | ' | ||||||||||||
The following table summarizes the change in the valuation allowance (in thousands): | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Valuation allowance at beginning of year | $ | 20,176 | $ | 18,901 | |||||||||
Increase in income tax expense | 4,160 | 641 | |||||||||||
Foreign currency translation adjustments | 172 | 230 | |||||||||||
Acquired valuation allowances | — | 404 | |||||||||||
Valuation allowance at end of year | $ | 24,508 | $ | 20,176 | |||||||||
Reconciliation of Unrecognized Tax Benefits | ' | ||||||||||||
A reconciliation of the beginning and ending amounts of unrecognized tax benefits, excluding interest, is as follows (in thousands): | |||||||||||||
Balance at December 31, 2012 | $ | 6,713 | |||||||||||
Subtractions for tax positions in prior periods | (191 | ) | |||||||||||
Additions for tax positions in current period | 470 | ||||||||||||
Subtractions due to foreign currency translation | (8 | ) | |||||||||||
Subtractions due to audit settlements and statute expirations | (2,802 | ) | |||||||||||
Balance at December 31, 2013 | $ | 4,182 |
Market_Risk_Management_Tables
Market Risk Management (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Text Block [Abstract] | ' | ||||||||
Foreign Currency Amounts | ' | ||||||||
The following derivative contracts were entered into during the year ended December 31, 2013, and remained open and outstanding at December 31, 2013. All U.S. dollar and foreign currency amounts (British Pounds Sterling and Euros) are presented in thousands. | |||||||||
Buy | Buy | ||||||||
Foreign Currency | GBP | EUR | |||||||
Foreign Amount | 5,000 | 5,000 | |||||||
USD Equivalent | $ | 8,175 | $ | 6,850 | |||||
Weighted Average Maturity | Less than 1 month | Less than 1 month |
Derivative_Financial_Instrumen1
Derivative Financial Instruments (Tables) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||
Summary of Derivative Financial Instruments | ' | ||||||||||||||||||
The following table summarizes our derivative financial instruments as of December 31, 2013 and 2012 (in thousands): | |||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||
Balance Sheet Location | Asset | Liability | Asset | Liability | |||||||||||||||
Derivatives | Derivatives | Derivatives | Derivatives | ||||||||||||||||
Fair Value | Fair Value | Fair Value | Fair Value | ||||||||||||||||
Derivatives not designated as hedging instruments: | |||||||||||||||||||
Foreign exchange forward contracts | Other current assets | $ | 91 | $ | — | $ | 8 | $ | — | ||||||||||
Foreign exchange forward contracts | Accrued expenses and other | — | — | — | 25 | ||||||||||||||
current liabilities | |||||||||||||||||||
Total derivatives not designated as hedging instruments | $ | 91 | $ | — | $ | 8 | $ | 25 | |||||||||||
Summary of Effect of Derivative Financial Instruments on Our Results of Operations | ' | ||||||||||||||||||
The following table summarizes the effect of our derivative financial instruments on our results of operations during the years ended December 31, 2013, 2012 and 2011 (in thousands): | |||||||||||||||||||
Derivatives Not Designated as | Location of (Gain) Loss Recognized | Amount of (Gain) Loss Recognized | |||||||||||||||||
Hedging Instruments | in | in Earnings on Derivatives | |||||||||||||||||
Earnings on Derivatives | |||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||
Foreign exchange forward contracts | Net foreign currency exchange (gain) loss | $ | (398 | ) | $ | 813 | $ | (951 | ) | ||||||||||
Total | $ | (398 | ) | $ | 813 | $ | (951 | ) | |||||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||
Summary of Valuation of Financial Instruments | ' | ||||||||||||||||||
The following table summarizes the valuation of our financial instruments by the following three categories as of December 31, 2013 and 2012 (in thousands): | |||||||||||||||||||
Level 1: Quoted market prices in active markets for identical assets or liabilities. | |||||||||||||||||||
Level 2: Observable market based inputs or unobservable inputs that are corroborated by market data. | |||||||||||||||||||
Level 3: Unobservable inputs that are not corroborated by market data. | |||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||
Balance Sheet Classification | Foreign | Non-qualified | Foreign | Non-qualified | |||||||||||||||
Exchange | Deferred | Exchange | Deferred | ||||||||||||||||
Derivatives | Compensation | Derivatives | Compensation | ||||||||||||||||
Plan | Plan | ||||||||||||||||||
Investments | Investments | ||||||||||||||||||
Other current assets | Level 1 | $ | — | $ | — | $ | — | $ | 1,240 | ||||||||||
Level 2 | 91 | — | 8 | — | |||||||||||||||
Level 3 | — | — | — | — | |||||||||||||||
$ | 91 | $ | — | $ | 8 | $ | 1,240 | ||||||||||||
Accrued expenses and other current liabilities | Level 1 | $ | — | $ | — | $ | — | $ | — | ||||||||||
Level 2 | — | — | 25 | — | |||||||||||||||
Level 3 | — | — | — | — | |||||||||||||||
$ | — | $ | — | $ | 25 | $ | — | ||||||||||||
Supplemental_Financial_Informa1
Supplemental Financial Information (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||
Summary of Additions and Deductions Related to Allowances for Doubtful Accounts | ' | ||||||||||||||||
A summary of additions and deductions related to the allowance for doubtful accounts receivable for the years ended December 31, 2013, 2012 and 2011 follows (in thousands): | |||||||||||||||||
Balance at | Additions | Deductions | Balance at | ||||||||||||||
Beginning | End of Year | ||||||||||||||||
of Year | |||||||||||||||||
Allowance for doubtful accounts receivable: | |||||||||||||||||
Year ended December 31, 2013 | $ | 18,905 | $ | 4,696 | $ | (3,693 | ) | $ | 19,908 | ||||||||
Year ended December 31, 2012 | $ | 18,803 | $ | 4,195 | $ | (4,093 | ) | $ | 18,905 | ||||||||
Year ended December 31, 2011 | $ | 17,540 | $ | 4,267 | $ | (3,004 | ) | $ | 18,803 | ||||||||
Segment_and_Geographic_Informa1
Segment and Geographic Information (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Net Sales by Product or Service Type for North America, EMEA and APAC | ' | ||||||||||||||||
Net sales by product or service type for North America, EMEA and APAC were as follows for the years ended December 31, 2013, 2012 and 2011 (in thousands): | |||||||||||||||||
North America | |||||||||||||||||
Years Ended December 31, | |||||||||||||||||
Sales Mix | 2013 | 2012 | 2011 | ||||||||||||||
Hardware | $ | 2,130,006 | $ | 2,238,363 | $ | 2,334,257 | |||||||||||
Software | 1,129,114 | 1,177,538 | 1,095,532 | ||||||||||||||
Services | 211,640 | 210,456 | 242,703 | ||||||||||||||
$ | 3,470,760 | $ | 3,626,357 | $ | 3,672,492 | ||||||||||||
EMEA | |||||||||||||||||
Years Ended December 31, | |||||||||||||||||
Sales Mix | 2013 | 2012 | 2011 | ||||||||||||||
Hardware | $ | 504,006 | $ | 540,886 | $ | 438,171 | |||||||||||
Software | 930,903 | 894,949 | 936,543 | ||||||||||||||
Services | 34,265 | 27,772 | 23,707 | ||||||||||||||
$ | 1,469,174 | $ | 1,463,607 | $ | 1,398,421 | ||||||||||||
APAC | |||||||||||||||||
Years Ended December 31, | |||||||||||||||||
Sales Mix | 2013 | 2012 | 2011 | ||||||||||||||
Hardware | $ | 6,222 | $ | 4,820 | $ | 1,647 | |||||||||||
Software | 191,355 | 199,239 | 208,200 | ||||||||||||||
Services | 6,836 | 7,418 | 6,468 | ||||||||||||||
$ | 204,413 | $ | 211,477 | $ | 216,315 | ||||||||||||
Financial Information about Reportable Operating Segments | ' | ||||||||||||||||
The tables below present information about our reportable operating segments as of and for the years ended December 31, 2013, 2012 and 2011 (in thousands): | |||||||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||
North America | EMEA | APAC | Consolidated | ||||||||||||||
Net sales | $ | 3,470,760 | $ | 1,469,174 | $ | 204,413 | $ | 5,144,347 | |||||||||
Costs of goods sold | 2,998,573 | 1,277,850 | 169,037 | 4,445,460 | |||||||||||||
Gross profit | 472,187 | 191,324 | 35,376 | 698,887 | |||||||||||||
Operating expenses: | |||||||||||||||||
Selling and administrative expenses | 362,380 | 178,012 | 24,518 | 564,910 | |||||||||||||
Severance and restructuring expenses | 3,325 | 9,415 | — | 12,740 | |||||||||||||
Earnings from operations | $ | 106,482 | $ | 3,897 | $ | 10,858 | $ | 121,237 | |||||||||
Total assets | $ | 1,645,393 | $ | 577,448 | $ | 125,322 | $ | 2,348,163 | * | ||||||||
Year Ended December 31, 2012 | |||||||||||||||||
North America | EMEA | APAC | Consolidated | ||||||||||||||
Net sales | $ | 3,626,357 | $ | 1,463,607 | $ | 211,477 | $ | 5,301,441 | |||||||||
Costs of goods sold | 3,147,835 | 1,259,762 | 174,168 | 4,581,765 | |||||||||||||
Gross profit | 478,522 | 203,845 | 37,309 | 719,676 | |||||||||||||
Operating expenses: | |||||||||||||||||
Selling and administrative expenses | 359,634 | 179,979 | 25,593 | 565,206 | |||||||||||||
Severance and restructuring expenses | 2,834 | 3,483 | — | 6,317 | |||||||||||||
Earnings from operations | $ | 116,054 | $ | 20,383 | $ | 11,716 | $ | 148,153 | |||||||||
Total assets | $ | 1,749,890 | $ | 538,968 | $ | 130,673 | $ | 2,419,531 | * | ||||||||
Year Ended December 31, 2011 | |||||||||||||||||
North America | EMEA | APAC | Consolidated | ||||||||||||||
Net sales | $ | 3,672,492 | $ | 1,398,421 | $ | 216,315 | $ | 5,287,228 | |||||||||
Costs of goods sold | 3,195,716 | 1,200,348 | 182,007 | 4,578,071 | |||||||||||||
Gross profit | 476,776 | 198,073 | 34,308 | 709,157 | |||||||||||||
Operating expenses: | |||||||||||||||||
Selling and administrative expenses | 366,811 | 165,262 | 24,616 | 556,689 | |||||||||||||
Severance and restructuring expenses | 2,380 | 2,705 | — | 5,085 | |||||||||||||
Earnings from operations | $ | 107,585 | $ | 30,106 | $ | 9,692 | $ | 147,383 | |||||||||
Total assets | $ | 1,536,690 | $ | 535,116 | $ | 128,028 | $ | 2,199,834 | * | ||||||||
* | Consolidated total assets do not reflect intercompany eliminations and corporate assets of $484,430,000, $418,028,000 and $342,223,000 at December 31, 2013, 2012 and 2011, respectively. | ||||||||||||||||
Summary of Geographic Net Sales and Long-Lived Assets | ' | ||||||||||||||||
The following is a summary of our geographic net sales and long-lived assets, consisting of property and equipment, net (in thousands): | |||||||||||||||||
United States | Foreign | Total | |||||||||||||||
2013 | |||||||||||||||||
Net sales | $ | 3,281,403 | $ | 1,862,944 | $ | 5,144,347 | |||||||||||
Total long-lived assets | $ | 91,768 | $ | 41,052 | $ | 132,820 | |||||||||||
2012 | |||||||||||||||||
Net sales | $ | 3,398,516 | $ | 1,902,925 | $ | 5,301,441 | |||||||||||
Total long-lived assets | $ | 104,431 | $ | 39,082 | $ | 143,513 | |||||||||||
2011 | |||||||||||||||||
Net sales | $ | 3,447,541 | $ | 1,839,687 | $ | 5,287,228 | |||||||||||
Total long-lived assets | $ | 105,338 | $ | 35,367 | $ | 140,705 | |||||||||||
Pre-Tax Depreciation and Amortization for Operating Segment | ' | ||||||||||||||||
We recorded the following pre-tax amounts, by operating segment, for depreciation and amortization, in the accompanying consolidated financial statements (in thousands): | |||||||||||||||||
Years Ended December 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
North America | $ | 31,815 | $ | 32,457 | $ | 31,251 | |||||||||||
EMEA | 8,608 | 7,803 | 7,071 | ||||||||||||||
APAC | 1,121 | 917 | 817 | ||||||||||||||
Total | $ | 41,544 | $ | 41,177 | $ | 39,139 | |||||||||||
Selected_Quarterly_Financial_I1
Selected Quarterly Financial Information (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||||||
Consolidated Quarterly Financial Information | ' | ||||||||||||||||||||||||||||||||
The following table sets forth selected unaudited consolidated quarterly financial information for the years ended December 31, 2013 and 2012 (in thousands, except per share data): | |||||||||||||||||||||||||||||||||
Quarters Ended | |||||||||||||||||||||||||||||||||
Dec. 31, | Sept. 30, | June 30, | Mar. 31, | Dec. 31, | Sept. 30, | June 30, | Mar. 31, | ||||||||||||||||||||||||||
2013 | 2013 | 2013 | 2013 | 2012 | 2012 | 2012 | 2012 | ||||||||||||||||||||||||||
Net sales | $ | 1,395,158 | $ | 1,151,020 | $ | 1,416,547 | $ | 1,181,622 | $ | 1,346,675 | $ | 1,181,409 | $ | 1,529,175 | $ | 1,244,182 | |||||||||||||||||
Costs of goods sold | 1,214,003 | 982,352 | 1,225,620 | 1,023,485 | 1,166,282 | 1,013,784 | 1,327,889 | 1,073,810 | |||||||||||||||||||||||||
Gross profit | 181,155 | 168,668 | 190,927 | 158,137 | 180,393 | 167,625 | 201,286 | 170,372 | |||||||||||||||||||||||||
Operating expenses: | |||||||||||||||||||||||||||||||||
Selling and administrative expenses | 140,799 | 139,965 | 143,158 | 140,988 | 141,952 | 136,259 | 143,601 | 143,394 | |||||||||||||||||||||||||
Severance and restructuring expenses | 4,413 | 2,424 | 3,171 | 2,732 | 1,861 | 705 | 2,377 | 1,374 | |||||||||||||||||||||||||
Earnings from operations | 35,943 | 26,279 | 44,598 | 14,417 | 36,580 | 30,661 | 55,308 | 25,604 | |||||||||||||||||||||||||
Non-operating (income) expense: | |||||||||||||||||||||||||||||||||
Interest income | (259 | ) | (322 | ) | (337 | ) | (312 | ) | (340 | ) | (489 | ) | (288 | ) | (351 | ) | |||||||||||||||||
Interest expense | 1,560 | 1,603 | 1,556 | 1,618 | 1,351 | 1,702 | 1,490 | 1,558 | |||||||||||||||||||||||||
Gain on bargain purchase | — | — | — | — | — | — | — | (2,022 | ) | ||||||||||||||||||||||||
Net foreign currency exchange loss (gain) | 445 | 474 | (886 | ) | 161 | 409 | 426 | (470 | ) | (828 | ) | ||||||||||||||||||||||
Other expense, net | 332 | 364 | 342 | 374 | 385 | 319 | 389 | 244 | |||||||||||||||||||||||||
Earnings before income taxes | 33,865 | 24,160 | 43,923 | 12,576 | 34,775 | 28,703 | 54,187 | 27,003 | |||||||||||||||||||||||||
Income tax expense | 13,458 | 9,135 | 17,410 | 3,500 | 14,008 | 9,349 | 18,937 | 9,611 | |||||||||||||||||||||||||
Net earnings | $ | 20,407 | $ | 15,025 | $ | 26,513 | $ | 9,076 | $ | 20,767 | $ | 19,354 | $ | 35,250 | $ | 17,392 | |||||||||||||||||
Net earnings per share: | |||||||||||||||||||||||||||||||||
Basic | $ | 0.48 | $ | 0.35 | $ | 0.62 | $ | 0.2 | $ | 0.47 | $ | 0.43 | $ | 0.79 | $ | 0.39 | |||||||||||||||||
Diluted | $ | 0.48 | $ | 0.35 | $ | 0.62 | $ | 0.2 | $ | 0.46 | $ | 0.43 | $ | 0.79 | $ | 0.39 | |||||||||||||||||
Operations_and_Summary_of_Sign3
Operations and Summary of Significant Accounting Policies - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Segment | ||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ' | ' | ' | ' |
Number of operating segments | ' | 3 | ' | ' |
Acquisition, net of cash acquired | ' | ' | $3,831,000 | $13,769,000 |
Gain on bargain purchase | 2,022,000 | ' | 2,022,000 | ' |
Reduction of costs of goods sold as result of the negotiated settlement or other legal release of trade credits | ' | 2,379,000 | 4,492,000 | 4,292,000 |
Return policy for unopened and opened product | ' | 'We make provisions for estimated product returns that we expect to occur under our return policy based upon historical return rates. Our manufacturers warrant most of the products we market, and it is our policy to request that clients return their defective products directly to the manufacturer for warranty service. On selected products, and for selected client service reasons, we may accept returns directly from the client and then either credit the client or ship a replacement product. We generally offer a limited 15- to 30-day return policy for unopened products and certain opened products, which are consistent with manufacturersb terms; however, for some products we may charge restocking fees. Products returned opened are processed and returned to the manufacturer or partner for repair, replacement or credit to us. We resell most unopened products returned to us. Products that cannot be returned to the manufacturer for warranty processing, but are in working condition, are sold to inventory liquidators, to end users as bpreviously soldb or busedb products, or through other channels to reduce our losses from returned products. | ' | ' |
Partner funding recorded as reduction of selling and administrative expenses | ' | 34,900,000 | 30,714,000 | 28,269,000 |
Percentage of consolidated net sales attributable to significant client | ' | 'No single client accounted for more than 3% | ' | ' |
Percent of sales not exceeded by any single client | ' | 3.00% | ' | ' |
Percentage of purchase from significant supplier | ' | 10.00% | ' | ' |
Percentage of purchases from top 5 Partners | ' | 63.00% | ' | ' |
Advertising expense | ' | 29,394,000 | 27,632,000 | 26,439,000 |
Tax benefit | ' | 50.00% | ' | ' |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' | ' |
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ' | ' | ' | ' |
Weighted-average outstanding stock options and restricted stock units excluded in the diluted EPS calculations | ' | 177,000 | 295,000 | 9,000 |
Stock Options [Member] | ' | ' | ' | ' |
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ' | ' | ' | ' |
Weighted-average outstanding stock options and restricted stock units excluded in the diluted EPS calculations | ' | ' | ' | 208,000 |
Microsoft [Member] | ' | ' | ' | ' |
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ' | ' | ' | ' |
Percentage of purchase from supplier | ' | 30.00% | ' | ' |
Sales [Member] | ' | ' | ' | ' |
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ' | ' | ' | ' |
Percentage of sales to U.S. federal government | ' | 10.00% | ' | ' |
Ensynch [Member] | ' | ' | ' | ' |
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ' | ' | ' | ' |
Acquisition, net of cash acquired | ' | ' | ' | 13,769,000 |
Inmac [Member] | ' | ' | ' | ' |
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ' | ' | ' | ' |
Acquisition, net of cash acquired | ' | ' | 3,831,000 | ' |
Gain on bargain purchase | ' | ' | $2,022,000 | ' |
Operations_and_Summary_of_Sign4
Operations and Summary of Significant Accounting Policies - Estimated Economic Lives of Property and Equipment (Detail) | 12 Months Ended |
Dec. 31, 2013 | |
Property, Plant and Equipment [Line Items] | ' |
Leasehold improvements | 'Shorter of underlying lease term or asset life |
Buildings [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Useful Life | '29 years |
Minimum [Member] | Furniture and fixtures [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Useful Life | '2 years |
Minimum [Member] | Equipment [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Useful Life | '3 years |
Minimum [Member] | Software [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Useful Life | '3 years |
Maximum [Member] | Furniture and fixtures [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Useful Life | '7 years |
Maximum [Member] | Equipment [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Useful Life | '5 years |
Maximum [Member] | Software [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Useful Life | '10 years |
Operations_and_Summary_of_Sign5
Operations and Summary of Significant Accounting Policies - Estimated Economic Life of Acquired Amortizable Intangible Assets (Detail) | 12 Months Ended |
Dec. 31, 2013 | |
Minimum [Member] | Customer Relationships [Member] | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' |
Useful Life | '2 years |
Minimum [Member] | Other [Member] | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' |
Useful Life | '9 months |
Maximum [Member] | Customer Relationships [Member] | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' |
Useful Life | '11 years |
Maximum [Member] | Other [Member] | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' |
Useful Life | '3 years |
Operations_and_Summary_of_Sign6
Operations and Summary of Significant Accounting Policies - Reconciliation of Denominators of Basic and Diluted EPS Calculations (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Numerator: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net earnings | $20,407 | $15,025 | $26,513 | $9,076 | $20,767 | $19,354 | $35,250 | $17,392 | $71,021 | $92,763 | $100,235 |
Denominator: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted-average shares used to compute basic EPS | ' | ' | ' | ' | ' | ' | ' | ' | 43,012 | 44,413 | 45,474 |
Potential dilutive common shares due to dilutive stock options and restricted stock units | ' | ' | ' | ' | ' | ' | ' | ' | 277 | 421 | 547 |
Weighted-average shares used to compute diluted EPS | ' | ' | ' | ' | ' | ' | ' | ' | 43,289 | 44,834 | 46,021 |
Net earnings per share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic | $0.48 | $0.35 | $0.62 | $0.20 | $0.47 | $0.43 | $0.79 | $0.39 | $1.65 | $2.09 | $2.20 |
Diluted | $0.48 | $0.35 | $0.62 | $0.20 | $0.46 | $0.43 | $0.79 | $0.39 | $1.64 | $2.07 | $2.18 |
Property_and_Equipment_Propert
Property and Equipment - Property and Equipment (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property and equipment, gross | $383,232,000 | $370,197,000 | ' |
Accumulated depreciation and amortization | -250,412,000 | -226,684,000 | ' |
Property and equipment, net | 132,820,000 | 143,513,000 | 140,705,000 |
Software [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property and equipment, gross | 154,756,000 | 148,881,000 | ' |
Buildings [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property and equipment, gross | 77,287,000 | 76,254,000 | ' |
Equipment [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property and equipment, gross | 84,845,000 | 80,625,000 | ' |
Furniture and fixtures [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property and equipment, gross | 35,369,000 | 33,536,000 | ' |
Leasehold improvements [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property and equipment, gross | 23,319,000 | 23,185,000 | ' |
Land [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property and equipment, gross | $7,656,000 | $7,716,000 | ' |
Property_and_Equipment_Additio
Property and Equipment - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Property Plant And Equipment Useful Life And Values [Abstract] | ' | ' | ' |
Non- cash charges to write-off certain property and equipment, primarily computer software development costs | $606,000 | $596,000 | $1,390,000 |
Depreciation and amortization expense | $29,898,000 | $28,148,000 | $26,607,000 |
Goodwill_Changes_in_Carrying_A
Goodwill - Changes in Carrying Amount of Goodwill (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Goodwill [Line Items] | ' | ' |
Goodwill | $515,091 | $515,091 |
Accumulated impairment losses | -488,834 | -488,834 |
Goodwill, Total | 26,257 | 26,257 |
North America [Member] | ' | ' |
Goodwill [Line Items] | ' | ' |
Goodwill | 349,679 | 349,679 |
Accumulated impairment losses | -323,422 | -323,422 |
Goodwill, Total | 26,257 | 26,257 |
EMEA [Member] | ' | ' |
Goodwill [Line Items] | ' | ' |
Goodwill | 151,439 | 151,439 |
Accumulated impairment losses | -151,439 | -151,439 |
Goodwill, Total | ' | ' |
APAC [Member] | ' | ' |
Goodwill [Line Items] | ' | ' |
Goodwill | 13,973 | 13,973 |
Accumulated impairment losses | -13,973 | -13,973 |
Goodwill, Total | ' | ' |
Goodwill_Additional_Informatio
Goodwill - Additional Information (Detail) (Ensynch [Member], North America [Member], USD $) | 1 Months Ended |
Oct. 31, 2011 | |
Ensynch [Member] | North America [Member] | ' |
Goodwill [Line Items] | ' |
Goodwill acquired during the year | $9,783,000 |
Intangible_Assets_Summary_of_I
Intangible Assets - Summary of Intangible Assets, Net (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible assets, Gross | $114,195 | $114,497 |
Accumulated amortization | -78,430 | -67,092 |
Intangible assets, net | 35,765 | 47,405 |
Customer Relationships [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible assets, Gross | 113,897 | 113,761 |
Other [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Intangible assets, Gross | $298 | $736 |
Intangible_Assets_Additional_I
Intangible Assets - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Amount of impairment | $0 | ' | ' |
Amortization expense | 11,646,000 | 13,029,000 | 12,532,000 |
Ensynch [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Total fair value of net assets | 4,403,000 | ' | ' |
Amount of identifiable intangible assets | 2,680,000 | ' | ' |
Estimated economic life | '6 years | ' | ' |
Inmac [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Total fair value of net assets | 15,631,000 | ' | ' |
Amount of identifiable intangible assets | 1,027,000 | ' | ' |
Estimated economic life | '5 years | ' | ' |
Amount of cash acquired | $9,778,000 | ' | ' |
Intangible_Assets_Future_Amort
Intangible Assets - Future Amortization Expenses (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ' |
2014 | $11,462 | ' |
2015 | 11,442 | ' |
2016 | 8,565 | ' |
2017 | 2,268 | ' |
2018 | 2,028 | ' |
Intangible assets, net | $35,765 | $47,405 |
Accrued_Expenses_and_Other_Cur1
Accrued Expenses and Other Current Liabilities - Additional Information (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Payables And Accruals [Abstract] | ' | ' |
Accrual of sales tax, value-added tax and other indirect taxes | $62,800,000 | $62,187,000 |
Debt_Capital_Lease_Obligation_2
Debt, Capital Lease Obligation and Inventory Financing Facility - Long-Term Debt (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Debt Disclosure [Abstract] | ' | ' |
Senior revolving credit facility | $16,500 | $33,000 |
Accounts receivable securitization financing facility | 50,000 | 47,000 |
Capital lease obligation | 666 | 602 |
Total | 67,166 | 80,602 |
Less: current portion of obligation under capital lease | -217 | -602 |
Less: current portion of revolving credit facilities | ' | ' |
Long-term debt | $66,949 | $80,000 |
Debt_Capital_Lease_Obligation_3
Debt, Capital Lease Obligation and Inventory Financing Facility - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Debt Instrument [Line Items] | ' | ' | ' |
Outstanding borrowing | $16,500,000 | $33,000,000 | ' |
Line of credit facility interest rate description | 'Prime rate plus a predetermined spread of 0.00% to 0.75% | ' | ' |
LIBOR, Interest rate description | 'LIBOR rate plus a pre-determined spread of 1.25% to 2.25% | ' | ' |
Debt Instrument, Description of variable rate basis | 'LIBOR | ' | ' |
Amount of facility permitted by qualified receivables | 200,000,000 | ' | ' |
Accounts receivable securitization financing facility | 50,000,000 | 47,000,000 | ' |
Covenants compliance | 'At December 31, 2013, we were in compliance with all such covenants. | ' | ' |
Maximum leverage ratio time adjusted earnings | 2.75 | ' | ' |
Maximum combined borrowing capacity under senior revolving credit facility and ABS facility, accessible | 457,552,000 | ' | ' |
Maximum combined borrowing capacity under senior revolving credit facility and ABS facility | 550,000,000 | ' | ' |
Long-term debt | 66,500,000 | ' | ' |
Property and equipment, gross | 383,232,000 | 370,197,000 | ' |
Inventory financing facility maximum borrowing capacity | 200,000,000 | ' | ' |
Inventory financing facility maturity date | 26-Apr-17 | ' | ' |
Low end for range of stated vendor terms | '30 days | ' | ' |
High end for range of stated vendor terms | '60 days | ' | ' |
Inventory financing facility deferred financing fees | 99,000 | ' | ' |
Imputed interest on inventory financing facility | 2,453,000 | 1,838,000 | 1,978,000 |
Inventory financing facility Amortization to interest expense term | '5 years | ' | ' |
Inventory financing facility interest rate if balances are not paid within stated vendor terms | 'Prime plus 1.25% | ' | ' |
Inventory financing facility rate if vendor terms not met equal prime plus | 1.25% | ' | ' |
Inventory financing facility | 115,252,000 | 116,833,000 | ' |
Minimum [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Participation fee on letter of credit | 1.25% | ' | ' |
Maximum [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Participation fee on letter of credit | 2.25% | ' | ' |
Senior Revolving Credit Facility [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Maximum borrowing capacity | 350,000,000 | ' | ' |
Line of credit facility amount available for borrowings in foreign currencies and U.S. dollars | 25,000,000 | ' | ' |
Amount available for issuance of letter of credit | 25,000,000 | ' | ' |
Prime rate | 3.25% | ' | ' |
Outstanding borrowing | 16,500,000 | ' | ' |
Commitment fee and origination costs | ' | 3.10% | 1.70% |
Weighted average amount outstanding borrowings | 17,943,000 | ' | ' |
Interest expense | 1,738,000 | ' | ' |
Remaining borrowing capacity available under senior revolving credit facility | 333,500,000 | ' | ' |
Maturity date | 26-Apr-17 | ' | ' |
Deferred financing fees | 2,300,000 | ' | ' |
Amortized to interest expense term | '5 years | ' | ' |
Senior Revolving Credit Facility [Member] | Minimum [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Prime rate plus pre-determined spread | 0.00% | ' | ' |
LIBOR rate plus pre-determined spread | 1.25% | ' | ' |
Commitment on the unused portion of the facility | 0.25% | ' | ' |
Senior Revolving Credit Facility [Member] | Maximum [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Prime rate plus pre-determined spread | 0.75% | ' | ' |
LIBOR rate plus pre-determined spread | 2.25% | ' | ' |
Commitment on the unused portion of the facility | 0.45% | ' | ' |
ABS Facility [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Maximum borrowing capacity | 200,000,000 | ' | ' |
Prime rate | 1.07% | ' | ' |
Weighted average amount outstanding borrowings | 112,959,000 | 102,674,000 | 5,744,000 |
Interest expense | ' | ' | 1,488,000 |
Maturity date | 24-Apr-15 | ' | ' |
Deferred financing fees | 378,000 | ' | ' |
Receivables at fair value | 715,415,000 | 809,683,000 | ' |
Applicable interest rate | 0.90% | ' | ' |
Commitment fee on the unused portion of the facility, utilization is more than specified percentage | 0.30% | ' | ' |
Minimum percentage of utilization of line of credit facility | 50.00% | ' | ' |
Commitment fee on the unused portion of the facility, utilization is less than specified percentage | 0.40% | ' | ' |
Maximum percentage of utilization of line of credit facility | 50.00% | ' | ' |
Weighted average interest rate | 1.60% | 1.90% | ' |
Amortized to interest expense term | '3 years | ' | ' |
Equipment [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Property and equipment, gross | 84,845,000 | 80,625,000 | ' |
Capital Lease Obligation [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Property and equipment, gross | 735,000 | ' | ' |
Accumulated depreciation on the capital lease | 105,000 | ' | ' |
Capitalized lease term | '42 months | ' | ' |
Capital Lease Obligation [Member] | Equipment [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Increase in value of equipment held under the capitalized lease | $3,867,000 | ' | ' |
Leases_Additional_Information_
Leases - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Leases [Abstract] | ' | ' | ' |
Operating leases rental expense | $15,731,000 | $14,740,000 | $14,821,000 |
Leases_Future_Minimum_Lease_Pa
Leases - Future Minimum Lease Payment (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Leases [Abstract] | ' |
2014 | $14,902 |
2015 | 13,097 |
2016 | 8,617 |
2017 | 6,593 |
2018 | 5,636 |
Thereafter | 9,479 |
Total minimum lease payments | $58,324 |
Severance_and_Restructuring_Ac2
Severance and Restructuring Activities - Additional Information (Detail) (USD $) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | |
2012 Resource Actions [Member] | 2013 Resource Actions [Member] | North America [Member] | North America [Member] | North America [Member] | North America [Member] | North America [Member] | EMEA [Member] | EMEA [Member] | EMEA [Member] | EMEA [Member] | EMEA [Member] | EMEA [Member] | |
2012 Resource Actions [Member] | 2012 Resource Actions [Member] | 2011 Resource Actions [Member] | 2011 Resource Actions [Member] | 2013 Resource Actions [Member] | 2012 Resource Actions [Member] | 2012 Resource Actions [Member] | 2011 Resource Actions [Member] | 2011 Resource Actions [Member] | 2009 Resource Actions [Member] | 2013 Resource Actions [Member] | |||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Severance expense | ' | $13,032,000 | ' | $3,022,000 | ' | $2,425,000 | $3,429,000 | ' | $3,973,000 | ' | $2,737,000 | ' | $9,603,000 |
Adjustments | ($292,000) | ' | ($104,000) | ' | $188,000 | ' | ' | ($188,000) | ' | $412,000 | ' | $78,000 | ' |
Severance_and_Restructuring_Ac3
Severance and Restructuring Activities - 2013 Activity and Outstanding Obligation Related to Resource Actions (Detail) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
2013 Resource Actions [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Severance costs | $13,032,000 | ' |
Foreign currency translation adjustments | 194,000 | ' |
Cash payments | -9,093,000 | ' |
Ending balance | 4,133,000 | ' |
2012 Resource Actions [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Beginning Balance | 2,640,000 | ' |
Foreign currency translation adjustments | 18,000 | ' |
Adjustments | -292,000 | ' |
Cash payments | -1,542,000 | ' |
Ending balance | 824,000 | ' |
North America [Member] | 2013 Resource Actions [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Severance costs | 3,429,000 | ' |
Cash payments | -2,206,000 | ' |
Ending balance | 1,223,000 | ' |
North America [Member] | 2012 Resource Actions [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Beginning Balance | 1,249,000 | ' |
Severance costs | ' | 3,022,000 |
Adjustments | -104,000 | ' |
Cash payments | -658,000 | ' |
Ending balance | 487,000 | 1,249,000 |
EMEA [Member] | 2013 Resource Actions [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Severance costs | 9,603,000 | ' |
Foreign currency translation adjustments | 194,000 | ' |
Cash payments | -6,887,000 | ' |
Ending balance | 2,910,000 | ' |
EMEA [Member] | 2012 Resource Actions [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Beginning Balance | 1,391,000 | ' |
Severance costs | ' | 3,973,000 |
Foreign currency translation adjustments | 18,000 | ' |
Adjustments | -188,000 | ' |
Cash payments | -884,000 | ' |
Ending balance | $337,000 | $1,391,000 |
StockBased_Compensation_Pretax
Stock-Based Compensation - Pre-tax Amounts by Operating Segment for Stock-Based Compensation (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Stock-based compensation expense related to restricted stock units (RSUs) | $6,430 | $8,548 | $7,919 |
North America [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Stock-based compensation expense related to restricted stock units (RSUs) | 5,118 | 6,260 | 5,779 |
EMEA [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Stock-based compensation expense related to restricted stock units (RSUs) | 1,061 | 2,030 | 1,908 |
APAC [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Stock-based compensation expense related to restricted stock units (RSUs) | $251 | $258 | $232 |
StockBased_Compensation_Additi
Stock-Based Compensation - Additional Information (Detail) (USD $) | 12 Months Ended | 0 Months Ended | 12 Months Ended | |||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | 18-May-11 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Amended 2007 Plan [Member] | Amended 2007 Plan [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Description of share based compensation under Amended 2007 Omnibus Plan | 'On May 18, 2011, Insight's stockholders approved the Company's Amended 2007 Omnibus Plan ("the Amended 2007 Plan") to, among other changes, increase the number of shares of common stock authorized to be issued thereunder by 3,000,000 shares to a total of 7,250,000 shares. | ' | ' | ' | ' | ' | ' | ' |
Stockholders approved increase in authorized shares under the Amended 2007 Omnibus Plan | ' | ' | ' | 3,000,000 | ' | ' | ' | ' |
Maximum number of authorized shares under the Amended 2007 Omnibus Plan | ' | ' | ' | 7,250,000 | 7,250,000 | ' | ' | ' |
Number of shares of stock available for grant | ' | ' | ' | ' | 4,433,643 | ' | ' | ' |
Total compensation cost related to RSU's not yet recognized | ' | ' | ' | ' | ' | $10,530,000 | ' | ' |
Weighted average number of years for recognition of outstanding nonvested RSUs | ' | ' | ' | ' | ' | '1 year 3 months 29 days | ' | ' |
Shares withheld to cover taxes | ' | ' | ' | ' | ' | 151,521 | 158,231 | 154,473 |
Payments for employees' tax obligations to taxing authorities | $3,094,000 | $3,288,000 | $2,697,000 | ' | ' | $3,094,000 | $3,288,000 | $2,697,000 |
Options granted | 0 | ' | ' | ' | ' | ' | ' | ' |
StockBased_Compensation_Summar
Stock-Based Compensation - Summary of Restricted Stock Units (Detail) (Restricted Stock Units (RSUs) [Member], USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Nonvested Number, Beginning balance | 1,162,231 | ' | ' |
Number, Granted | 393,651 | ' | ' |
Number, Vested, including shares withheld to cover taxes | -580,924 | ' | ' |
Number, Forfeited | -163,393 | ' | ' |
Nonvested Number, Ending balance | 811,565 | 1,162,231 | ' |
Number, Expected to vest | 730,769 | ' | ' |
Nonvested Weighted Average Grant Date Fair Value, Beginning balance | $17.66 | ' | ' |
Weighted Average Grant Date Fair Value, Granted | $20.43 | ' | ' |
Weighted Average Grant Date Fair Value, Vested, including shares withheld to cover taxes | $16.07 | ' | ' |
Weighted Average Grant Date Fair Value, Forfeited | $19.38 | ' | ' |
Nonvested Weighted Average Grant Date Fair Value, Ending balance | $19.91 | $17.66 | ' |
Fair Value, Vested, including shares withheld to cover taxes | $11,829,527 | $14,112,284 | $11,174,009 |
Fair Value, Nonvested at the ending of period | 18,430,641 | ' | ' |
Fair Value, Expected to vest | $16,595,764 | ' | ' |
StockBased_Compensation_Summar1
Stock-Based Compensation - Summary of Restricted Stock Units (Parenthetical) (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Closing stock price | $22.71 | ' | ' |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Aggregate intrinsic value for vested shares of restricted common stock and RSUs | $11,829,527 | $14,112,284 | $11,174,009 |
Income_Taxes_Earnings_Before_I
Income Taxes - Earnings Before Income Taxes (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
U.S. | ' | ' | ' | ' | ' | ' | ' | ' | $95,481 | $99,970 | $87,436 |
Foreign | ' | ' | ' | ' | ' | ' | ' | ' | 19,043 | 44,698 | 54,253 |
Earnings before income taxes | $33,865 | $24,160 | $43,923 | $12,576 | $34,775 | $28,703 | $54,187 | $27,003 | $114,524 | $144,668 | $141,689 |
Income_Taxes_Income_Tax_Expens
Income Taxes - Income Tax Expense (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Current: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
U.S. Federal | ' | ' | ' | ' | ' | ' | ' | ' | $27,782 | $25,319 | $18,410 |
U.S. State and local | ' | ' | ' | ' | ' | ' | ' | ' | 2,662 | 2,436 | 1,113 |
Foreign | ' | ' | ' | ' | ' | ' | ' | ' | 9,614 | 15,172 | 17,379 |
Total current income tax expense | ' | ' | ' | ' | ' | ' | ' | ' | 40,058 | 42,927 | 36,902 |
Deferred: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
U.S. Federal | ' | ' | ' | ' | ' | ' | ' | ' | 4,039 | 7,785 | 4,440 |
U.S. State and local | ' | ' | ' | ' | ' | ' | ' | ' | 921 | -823 | 2,042 |
Foreign | ' | ' | ' | ' | ' | ' | ' | ' | -1,515 | 2,016 | -1,930 |
Total deferred income tax expense | ' | ' | ' | ' | ' | ' | ' | ' | 3,445 | 8,978 | 4,552 |
Income tax expense | $13,458 | $9,135 | $17,410 | $3,500 | $14,008 | $9,349 | $18,937 | $9,611 | $43,503 | $51,905 | $41,454 |
Income_Taxes_Schedule_Reconcil
Income Taxes - Schedule Reconciles Difference between U.S. Federal Income Taxes at U.S. Statutory Rate and Our Income Tax Expense (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expected expense at U.S. statutory rate of 35% | ' | ' | ' | ' | ' | ' | ' | ' | $40,083 | $50,634 | $49,591 |
Change resulting from: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
State income tax expense, net of federal income tax benefit | ' | ' | ' | ' | ' | ' | ' | ' | 3,662 | 2,088 | 3,225 |
Audits and adjustments, net | ' | ' | ' | ' | ' | ' | ' | ' | -1,730 | 2,424 | -665 |
Change in valuation allowance | ' | ' | ' | ' | ' | ' | ' | ' | 4,160 | 641 | -1,643 |
Foreign income taxed at different rates | ' | ' | ' | ' | ' | ' | ' | ' | -2,665 | -3,823 | -2,136 |
Reorganization/recapitalization of foreign operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -7,580 |
Non-deductible compensation | ' | ' | ' | ' | ' | ' | ' | ' | 275 | 485 | 512 |
Other, net | ' | ' | ' | ' | ' | ' | ' | ' | -282 | -544 | 150 |
Income tax expense | $13,458 | $9,135 | $17,410 | $3,500 | $14,008 | $9,349 | $18,937 | $9,611 | $43,503 | $51,905 | $41,454 |
Effective tax rate | ' | ' | ' | ' | ' | ' | ' | ' | 38.00% | 35.90% | 29.30% |
Income_Taxes_Schedule_Reconcil1
Income Taxes - Schedule Reconciles Difference between U.S. Federal Income Taxes at U.S. Statutory Rate and Our Income Tax Expense (Parenthetical) (Detail) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Expected income tax expense in percentage | 35.00% | 35.00% | 35.00% |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Income Tax [Line Items] | ' | ' | ' |
Net U.S. benefit related to reorganization of foreign subsidiary | ' | ' | $8,637,000 |
Undistributed earnings of foreign subsidiaries | 71,952,000 | ' | ' |
U.S. state net operating loss carryforwards | 740,000 | ' | ' |
U.S. federal NOLs | 48,000 | ' | ' |
NOLs from non-U.S. jurisdictions | 60,711,000 | ' | ' |
NOLs fully expire between 2014 and 2020 | 5,245,000 | ' | ' |
Valuation allowances | 24,508,000 | 20,176,000 | 18,901,000 |
Net tax benefit shortfall related to the employee stock options and other employee stock programs | 760,000 | 1,036,000 | 1,351,000 |
Unrecognized tax benefits | 4,546,000 | 7,201,000 | ' |
Unrecognized tax benefits, interest on income taxes accrued | $364,000 | $488,000 | ' |
Subsidiaries under audit for tax years | '2006 through 2012 | ' | ' |
Period during which examination phase of tax audits may conclude | 'Next 12 months | ' | ' |
Period during which federal income tax returns remain open to examination | '2011 and 2012 | ' | ' |
Statute of limitations for tax examination, Minimum | '3 years | ' | ' |
Statute of limitations for tax examination, Maximum | '10 years | ' | ' |
State and Local Jurisdictions [Member] | ' | ' | ' |
Income Tax [Line Items] | ' | ' | ' |
Operating loss carryforwards expiration date, start | '2014 | ' | ' |
Operating loss carryforwards expiration date, end | '2030 | ' | ' |
United States [Member] | ' | ' | ' |
Income Tax [Line Items] | ' | ' | ' |
Operating loss carryforwards expiration date, end | '2031 | ' | ' |
Foreign [Member] | ' | ' | ' |
Income Tax [Line Items] | ' | ' | ' |
Operating loss carryforwards expiration date, start | '2014 | ' | ' |
Operating loss carryforwards expiration date, end | '2020 | ' | ' |
Income_Taxes_Significant_Compo
Income Taxes - Significant Components of Deferred Tax Assets and Liabilities (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Deferred tax assets: | ' | ' | ' |
Goodwill and other intangibles | $59,828 | $65,523 | ' |
Net operating losses | 16,489 | 13,571 | ' |
Accruals | 10,243 | 10,154 | ' |
Foreign tax credits | 12,651 | 12,244 | ' |
Accounts receivable | 6,389 | 6,276 | ' |
Stock-based compensation | 2,881 | 3,612 | ' |
Inventories | 1,837 | 1,239 | ' |
Deferred revenue | 567 | 952 | ' |
Other | 320 | 1,285 | ' |
Gross deferred tax assets | 111,205 | 114,856 | ' |
Valuation allowance | -24,508 | -20,176 | -18,901 |
Total deferred tax assets | 86,697 | 94,680 | ' |
Deferred tax liabilities: | ' | ' | ' |
Property and equipment | -11,803 | -16,340 | ' |
Prepaid expenses | -250 | -252 | ' |
Total deferred tax liabilities | -12,053 | -16,592 | ' |
Net deferred tax asset | $74,644 | $78,088 | ' |
Income_Taxes_Net_Current_and_N
Income Taxes - Net Current and Non-Current Portions of Deferred Tax Assets and Liabilities (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Income Tax Disclosure [Abstract] | ' | ' |
Net current deferred tax asset | $16,436 | $16,387 |
Net non-current deferred tax asset | 58,208 | 61,701 |
Net deferred tax asset | $74,644 | $78,088 |
Income_Taxes_Change_in_Valuati
Income Taxes - Change in Valuation Allowance (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Valuation allowance at beginning of year | $20,176 | $18,901 | ' |
Increase in income tax expense | 4,160 | 641 | -1,643 |
Foreign currency translation adjustments | 172 | 230 | ' |
Acquired valuation allowances | ' | 404 | ' |
Valuation allowance at end of year | $24,508 | $20,176 | $18,901 |
Income_Taxes_Reconciliation_of
Income Taxes - Reconciliation of Unrecognized Tax Benefits (Detail) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Income Tax Disclosure [Abstract] | ' |
Beginning Balance | $6,713 |
Subtractions for tax positions in prior periods | -191 |
Additions for tax positions in current period | 470 |
Subtractions due to foreign currency translation | -8 |
Subtractions due to audit settlements and statute expirations | -2,802 |
Ending Balance | $4,182 |
Market_Risk_Management_Additio
Market Risk Management - Additional Information (Detail) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Line of Credit Facility [Line Items] | ' |
Debt outstanding | $66,500,000 |
Hypothetical increase or decrease in the highest applicable interest rate | 10.00% |
Effect on pretax earnings from continuing operations of hypothetical change in highest applicable interest rate | 127,000 |
Forward contracts maturities | '1 month |
Fair value of forwards contracts | 91,000 |
Senior Revolving Credit Facility [Member] | ' |
Line of Credit Facility [Line Items] | ' |
Debt outstanding | 16,500,000 |
Interest rates | 3.25% |
ABS Facility [Member] | ' |
Line of Credit Facility [Line Items] | ' |
Debt outstanding | $50,000,000 |
Interest rates | 1.07% |
Market_Risk_Management_Foreign
Market Risk Management - Foreign Currency Amounts (Detail) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
British Pounds Contracts [Member] | British Pounds Contracts [Member] | Euro Contracts [Member] | Euro Contracts [Member] | |
USD ($) | GBP (£) | USD ($) | EUR (€) | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ' | ' | ' | ' |
Foreign Currency | 'GBP | 'GBP | 'EUR | 'EUR |
Notional Amount of Foreign Currency Derivative Purchase Contracts | $8,175 | £ 5,000 | $6,850 | € 5,000 |
Weighted Average Maturity | '1 month | '1 month | '1 month | '1 month |
Derivative_Financial_Instrumen2
Derivative Financial Instruments - Additional Information (Detail) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
DerivativeInstrument | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' |
Foreign currency forward contracts, maturity | '1 month |
Approximate number of foreign exchange forward contracts per month | 2 |
Average notional value of foreign exchange forward contracts | $10,644,000 |
Average maturity of foreign exchange forward contracts | '11 days |
Derivative_Financial_Instrumen3
Derivative Financial Instruments - Summary of Derivative Financial Instruments (Detail) (Not Designated as Hedging Instruments [Member], USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Derivatives, Fair Value [Line Items] | ' | ' |
Asset Derivatives Fair Value | $91 | $8 |
Liability Derivatives Fair Value | ' | 25 |
Foreign Exchange Forward Contracts [Member] | Accrued Expenses and Other Current Liabilities [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Asset Derivatives Fair Value | ' | ' |
Liability Derivatives Fair Value | ' | 25 |
Foreign Exchange Forward Contracts [Member] | Other Current Assets [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Asset Derivatives Fair Value | 91 | 8 |
Liability Derivatives Fair Value | ' | ' |
Derivative_Financial_Instrumen4
Derivative Financial Instruments - Summary of Effect of Derivative Financial Instruments on Our Results of Operations (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Derivative Instruments, (Gain) Loss | ' | ' | ' |
Amount of (Gain) Loss Recognized in Earnings on Derivatives | ($398) | $813 | ($951) |
Foreign Exchange Forward Contracts [Member] | ' | ' | ' |
Derivative Instruments, (Gain) Loss | ' | ' | ' |
Amount of (Gain) Loss Recognized in Earnings on Derivatives | ($398) | $813 | ($951) |
Fair_Value_Measurements_Summar
Fair Value Measurements - Summary of Valuation of Financial Instruments (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value [Line Items] | ' | ' |
Non-qualified deferred compensation plan investments | ' | $1,240 |
Non-qualified deferred compensation plan investments | ' | 849 |
Non-qualified Deferred Compensation Plan Investments [Member] | Other Current Assets [Member] | ' | ' |
Fair Value [Line Items] | ' | ' |
Non-qualified deferred compensation plan investments | ' | 1,240 |
Non-qualified Deferred Compensation Plan Investments [Member] | Other Current Assets [Member] | Level 1 [Member] | ' | ' |
Fair Value [Line Items] | ' | ' |
Non-qualified deferred compensation plan investments | ' | 1,240 |
Non-qualified Deferred Compensation Plan Investments [Member] | Other Current Assets [Member] | Level 2 [Member] | ' | ' |
Fair Value [Line Items] | ' | ' |
Non-qualified deferred compensation plan investments | ' | ' |
Non-qualified Deferred Compensation Plan Investments [Member] | Other Current Assets [Member] | Level 3 [Member] | ' | ' |
Fair Value [Line Items] | ' | ' |
Non-qualified deferred compensation plan investments | ' | ' |
Non-qualified Deferred Compensation Plan Investments [Member] | Accrued Expenses and Other Current Liabilities [Member] | ' | ' |
Fair Value [Line Items] | ' | ' |
Non-qualified deferred compensation plan investments | ' | ' |
Non-qualified Deferred Compensation Plan Investments [Member] | Accrued Expenses and Other Current Liabilities [Member] | Level 1 [Member] | ' | ' |
Fair Value [Line Items] | ' | ' |
Non-qualified deferred compensation plan investments | ' | ' |
Non-qualified Deferred Compensation Plan Investments [Member] | Accrued Expenses and Other Current Liabilities [Member] | Level 2 [Member] | ' | ' |
Fair Value [Line Items] | ' | ' |
Non-qualified deferred compensation plan investments | ' | ' |
Non-qualified Deferred Compensation Plan Investments [Member] | Accrued Expenses and Other Current Liabilities [Member] | Level 3 [Member] | ' | ' |
Fair Value [Line Items] | ' | ' |
Non-qualified deferred compensation plan investments | ' | ' |
Foreign Exchange Derivatives [Member] | Other Current Assets [Member] | ' | ' |
Fair Value [Line Items] | ' | ' |
Asset derivatives fair value | 91 | 8 |
Foreign Exchange Derivatives [Member] | Other Current Assets [Member] | Level 1 [Member] | ' | ' |
Fair Value [Line Items] | ' | ' |
Asset derivatives fair value | ' | ' |
Foreign Exchange Derivatives [Member] | Other Current Assets [Member] | Level 2 [Member] | ' | ' |
Fair Value [Line Items] | ' | ' |
Asset derivatives fair value | 91 | 8 |
Foreign Exchange Derivatives [Member] | Other Current Assets [Member] | Level 3 [Member] | ' | ' |
Fair Value [Line Items] | ' | ' |
Asset derivatives fair value | ' | ' |
Foreign Exchange Derivatives [Member] | Accrued Expenses and Other Current Liabilities [Member] | ' | ' |
Fair Value [Line Items] | ' | ' |
Liability derivatives fair value | ' | 25 |
Foreign Exchange Derivatives [Member] | Accrued Expenses and Other Current Liabilities [Member] | Level 1 [Member] | ' | ' |
Fair Value [Line Items] | ' | ' |
Liability derivatives fair value | ' | ' |
Foreign Exchange Derivatives [Member] | Accrued Expenses and Other Current Liabilities [Member] | Level 2 [Member] | ' | ' |
Fair Value [Line Items] | ' | ' |
Liability derivatives fair value | ' | 25 |
Foreign Exchange Derivatives [Member] | Accrued Expenses and Other Current Liabilities [Member] | Level 3 [Member] | ' | ' |
Fair Value [Line Items] | ' | ' |
Liability derivatives fair value | ' | ' |
Benefit_Plans_Additional_Infor
Benefit Plans - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Compensation Related Costs [Abstract] | ' | ' | ' |
Discretionary match contribution to defined contribution plan provided to participants-U.S. teammates | 25.00% | ' | ' |
Maximum pre-tax contributions of compensation per pay period eligible for match- U.S. teammates | 6.00% | ' | ' |
Discretionary match contribution to defined contribution plan provided to participants-Canadian teammates | 100.00% | ' | ' |
Maximum pre-tax contributions of compensation per pay period eligible for match-Canadian teammates | 1.50% | ' | ' |
Contribution expense | $6,923,000 | $6,579,000 | $6,086,000 |
Deferred Compensation Plan, assets | ' | 1,240,000 | ' |
Deferred Compensation Plan, liabilities | ' | $849,000 | ' |
Share_Repurchase_Programs_Addi
Share Repurchase Programs - Additional Information (Detail) (USD $) | 0 Months Ended | 12 Months Ended | ||||
Oct. 30, 2013 | Feb. 14, 2013 | 26-May-11 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | |
Plan One [Member] | Plan Two [Member] | |||||
Schedule Of Share Repurchase Programs [Line Items] | ' | ' | ' | ' | ' | ' |
Common stock repurchase program, authorized amount | $50,000,000 | $50,000,000 | $50,000,000 | ' | ' | ' |
Common stock shares repurchased | ' | ' | ' | 2,897,493 | 2,646,722 | 353,316 |
Repurchase shares of common stock, average cost per share | ' | ' | ' | $17.26 | $18.89 | $22 |
Repurchased shares of common stock, total cost | ' | ' | ' | ' | ' | $7,774,000 |
Commitments_and_Contingencies_
Commitments and Contingencies - Additional Information (Detail) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Commitments And Contingencies Disclosure [Abstract] | ' | ' |
Outstanding performance bonds to secure performance under certain contracts or state tax requirements | $2,890,000 | ' |
Minimum months of salary paid as severance | '3 months | ' |
Maximum months of salary paid as severance | '24 months | ' |
Legal costs recovered | ' | $2,000,000 |
Supplemental_Financial_Informa2
Supplemental Financial Information - Summary of Additions and Deductions Related to Allowances for Doubtful Accounts (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Quarterly Financial Information Disclosure [Abstract] | ' | ' | ' |
Allowance for doubtful accounts receivable, Beginning Balance | $18,905 | $18,803 | $17,540 |
Allowance for doubtful accounts receivable, Additions | 4,696 | 4,195 | 4,267 |
Allowance for doubtful accounts receivable, Deductions | -3,693 | -4,093 | -3,004 |
Allowance for doubtful accounts receivable, Ending Balance | $19,908 | $18,905 | $18,803 |
Segment_and_Geographic_Informa2
Segment and Geographic Information - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment | |||||||||||
Revenue from External Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of operating segments | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' |
Net sales | $1,395,158 | $1,151,020 | $1,416,547 | $1,181,622 | $1,346,675 | $1,181,409 | $1,529,175 | $1,244,182 | $5,144,347 | $5,301,441 | $5,287,228 |
Total long-lived assets | 132,820 | ' | ' | ' | 143,513 | ' | ' | ' | 132,820 | 143,513 | 140,705 |
Sales [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of Net Sales | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' |
United Kingdom [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 656,559 | 686,047 | 701,823 |
Total long-lived assets | $23,687 | ' | ' | ' | $23,616 | ' | ' | ' | $23,687 | $23,616 | $20,834 |
Segment_and_Geographic_Informa3
Segment and Geographic Information - Net Sales by Product or Service Type for North America, EMEA and APAC (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Revenue from External Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from external customers | $1,395,158 | $1,151,020 | $1,416,547 | $1,181,622 | $1,346,675 | $1,181,409 | $1,529,175 | $1,244,182 | $5,144,347 | $5,301,441 | $5,287,228 |
North America [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from external customers | ' | ' | ' | ' | ' | ' | ' | ' | 3,470,760 | 3,626,357 | 3,672,492 |
North America [Member] | Hardware Net Sales [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from external customers | ' | ' | ' | ' | ' | ' | ' | ' | 2,130,006 | 2,238,363 | 2,334,257 |
North America [Member] | Software Net Sales [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from external customers | ' | ' | ' | ' | ' | ' | ' | ' | 1,129,114 | 1,177,538 | 1,095,532 |
North America [Member] | Services Net Sales [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from external customers | ' | ' | ' | ' | ' | ' | ' | ' | 211,640 | 210,456 | 242,703 |
EMEA [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from external customers | ' | ' | ' | ' | ' | ' | ' | ' | 1,469,174 | 1,463,607 | 1,398,421 |
EMEA [Member] | Hardware Net Sales [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from external customers | ' | ' | ' | ' | ' | ' | ' | ' | 504,006 | 540,886 | 438,171 |
EMEA [Member] | Software Net Sales [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from external customers | ' | ' | ' | ' | ' | ' | ' | ' | 930,903 | 894,949 | 936,543 |
EMEA [Member] | Services Net Sales [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from external customers | ' | ' | ' | ' | ' | ' | ' | ' | 34,265 | 27,772 | 23,707 |
APAC [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from external customers | ' | ' | ' | ' | ' | ' | ' | ' | 204,413 | 211,477 | 216,315 |
APAC [Member] | Hardware Net Sales [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from external customers | ' | ' | ' | ' | ' | ' | ' | ' | 6,222 | 4,820 | 1,647 |
APAC [Member] | Software Net Sales [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from external customers | ' | ' | ' | ' | ' | ' | ' | ' | 191,355 | 199,239 | 208,200 |
APAC [Member] | Services Net Sales [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from external customers | ' | ' | ' | ' | ' | ' | ' | ' | $6,836 | $7,418 | $6,468 |
Segment_and_Geographic_Informa4
Segment and Geographic Information - Financial Information about Reportable Operating Segments (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | $1,395,158 | $1,151,020 | $1,416,547 | $1,181,622 | $1,346,675 | $1,181,409 | $1,529,175 | $1,244,182 | $5,144,347 | $5,301,441 | $5,287,228 |
Costs of goods sold | 1,214,003 | 982,352 | 1,225,620 | 1,023,485 | 1,166,282 | 1,013,784 | 1,327,889 | 1,073,810 | 4,445,460 | 4,581,765 | 4,578,071 |
Gross profit | 181,155 | 168,668 | 190,927 | 158,137 | 180,393 | 167,625 | 201,286 | 170,372 | 698,887 | 719,676 | 709,157 |
Operating expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Selling and administrative expenses | 140,799 | 139,965 | 143,158 | 140,988 | 141,952 | 136,259 | 143,601 | 143,394 | 564,910 | 565,206 | 556,689 |
Severance and restructuring expenses | 4,413 | 2,424 | 3,171 | 2,732 | 1,861 | 705 | 2,377 | 1,374 | 12,740 | 6,317 | 5,085 |
Earnings from operations | 35,943 | 26,279 | 44,598 | 14,417 | 36,580 | 30,661 | 55,308 | 25,604 | 121,237 | 148,153 | 147,383 |
Total assets | 2,348,163 | ' | ' | ' | 2,419,531 | ' | ' | ' | 2,348,163 | 2,419,531 | 2,199,834 |
North America [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 3,470,760 | 3,626,357 | 3,672,492 |
Costs of goods sold | ' | ' | ' | ' | ' | ' | ' | ' | 2,998,573 | 3,147,835 | 3,195,716 |
Gross profit | ' | ' | ' | ' | ' | ' | ' | ' | 472,187 | 478,522 | 476,776 |
Operating expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Selling and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | 362,380 | 359,634 | 366,811 |
Severance and restructuring expenses | ' | ' | ' | ' | ' | ' | ' | ' | 3,325 | 2,834 | 2,380 |
Earnings from operations | ' | ' | ' | ' | ' | ' | ' | ' | 106,482 | 116,054 | 107,585 |
Total assets | 1,645,393 | ' | ' | ' | 1,749,890 | ' | ' | ' | 1,645,393 | 1,749,890 | 1,536,690 |
EMEA [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 1,469,174 | 1,463,607 | 1,398,421 |
Costs of goods sold | ' | ' | ' | ' | ' | ' | ' | ' | 1,277,850 | 1,259,762 | 1,200,348 |
Gross profit | ' | ' | ' | ' | ' | ' | ' | ' | 191,324 | 203,845 | 198,073 |
Operating expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Selling and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | 178,012 | 179,979 | 165,262 |
Severance and restructuring expenses | ' | ' | ' | ' | ' | ' | ' | ' | 9,415 | 3,483 | 2,705 |
Earnings from operations | ' | ' | ' | ' | ' | ' | ' | ' | 3,897 | 20,383 | 30,106 |
Total assets | 577,448 | ' | ' | ' | 538,968 | ' | ' | ' | 577,448 | 538,968 | 535,116 |
APAC [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 204,413 | 211,477 | 216,315 |
Costs of goods sold | ' | ' | ' | ' | ' | ' | ' | ' | 169,037 | 174,168 | 182,007 |
Gross profit | ' | ' | ' | ' | ' | ' | ' | ' | 35,376 | 37,309 | 34,308 |
Operating expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Selling and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | 24,518 | 25,593 | 24,616 |
Severance and restructuring expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earnings from operations | ' | ' | ' | ' | ' | ' | ' | ' | 10,858 | 11,716 | 9,692 |
Total assets | $125,322 | ' | ' | ' | $130,673 | ' | ' | ' | $125,322 | $130,673 | $128,028 |
Segment_and_Geographic_Informa5
Segment and Geographic Information - Financial Information about Reportable Operating Segments (Parenthetical) (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Reporting [Abstract] | ' | ' | ' |
Corporate assets and intercompany elimination amount | $480,445,000 | $418,028,000 | $342,223,000 |
Segment_and_Geographic_Informa6
Segment and Geographic Information - Summary of Geographic Net Sales and Long-Lived Assets (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | $1,395,158 | $1,151,020 | $1,416,547 | $1,181,622 | $1,346,675 | $1,181,409 | $1,529,175 | $1,244,182 | $5,144,347 | $5,301,441 | $5,287,228 |
Total long-lived assets | 132,820 | ' | ' | ' | 143,513 | ' | ' | ' | 132,820 | 143,513 | 140,705 |
United States [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 3,281,403 | 3,398,516 | 3,447,541 |
Total long-lived assets | 91,768 | ' | ' | ' | 104,431 | ' | ' | ' | 91,768 | 104,431 | 105,338 |
Foreign [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 1,862,944 | 1,902,925 | 1,839,687 |
Total long-lived assets | $41,052 | ' | ' | ' | $39,082 | ' | ' | ' | $41,052 | $39,082 | $35,367 |
Segment_and_Geographic_Informa7
Segment and Geographic Information - Pre-Tax Depreciation and Amortization for Operating Segment (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Reporting Information [Line Items] | ' | ' | ' |
Depreciation and amortization | $41,544 | $41,177 | $39,139 |
North America [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Depreciation and amortization | 31,815 | 32,457 | 31,251 |
EMEA [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Depreciation and amortization | 8,608 | 7,803 | 7,071 |
APAC [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Depreciation and amortization | $1,121 | $917 | $817 |
Selected_Quarterly_Financial_I2
Selected Quarterly Financial Information - Consolidated Quarterly Financial Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Quarterly Financial Information Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | $1,395,158 | $1,151,020 | $1,416,547 | $1,181,622 | $1,346,675 | $1,181,409 | $1,529,175 | $1,244,182 | $5,144,347 | $5,301,441 | $5,287,228 |
Costs of goods sold | 1,214,003 | 982,352 | 1,225,620 | 1,023,485 | 1,166,282 | 1,013,784 | 1,327,889 | 1,073,810 | 4,445,460 | 4,581,765 | 4,578,071 |
Gross profit | 181,155 | 168,668 | 190,927 | 158,137 | 180,393 | 167,625 | 201,286 | 170,372 | 698,887 | 719,676 | 709,157 |
Operating expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Selling and administrative expenses | 140,799 | 139,965 | 143,158 | 140,988 | 141,952 | 136,259 | 143,601 | 143,394 | 564,910 | 565,206 | 556,689 |
Severance and restructuring expenses | 4,413 | 2,424 | 3,171 | 2,732 | 1,861 | 705 | 2,377 | 1,374 | 12,740 | 6,317 | 5,085 |
Earnings from operations | 35,943 | 26,279 | 44,598 | 14,417 | 36,580 | 30,661 | 55,308 | 25,604 | 121,237 | 148,153 | 147,383 |
Non-operating (income) expense: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest income | -259 | -322 | -337 | -312 | -340 | -489 | -288 | -351 | -1,230 | -1,468 | -1,686 |
Interest expense | 1,560 | 1,603 | 1,556 | 1,618 | 1,351 | 1,702 | 1,490 | 1,558 | 6,337 | 6,101 | 6,927 |
Gain on bargain purchase | ' | ' | ' | ' | ' | ' | ' | -2,022 | ' | -2,022 | ' |
Net foreign currency exchange loss (gain) | 445 | 474 | -886 | 161 | 409 | 426 | -470 | -828 | 194 | -463 | -1,136 |
Other expense, net | 332 | 364 | 342 | 374 | 385 | 319 | 389 | 244 | 1,412 | 1,337 | 1,589 |
Earnings before income taxes | 33,865 | 24,160 | 43,923 | 12,576 | 34,775 | 28,703 | 54,187 | 27,003 | 114,524 | 144,668 | 141,689 |
Income tax expense | 13,458 | 9,135 | 17,410 | 3,500 | 14,008 | 9,349 | 18,937 | 9,611 | 43,503 | 51,905 | 41,454 |
Net earnings | $20,407 | $15,025 | $26,513 | $9,076 | $20,767 | $19,354 | $35,250 | $17,392 | $71,021 | $92,763 | $100,235 |
Net earnings per share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic | $0.48 | $0.35 | $0.62 | $0.20 | $0.47 | $0.43 | $0.79 | $0.39 | $1.65 | $2.09 | $2.20 |
Diluted | $0.48 | $0.35 | $0.62 | $0.20 | $0.46 | $0.43 | $0.79 | $0.39 | $1.64 | $2.07 | $2.18 |