Document_and_Entity_Informatio
Document and Entity Information | 6 Months Ended | |
Jun. 30, 2014 | Jul. 25, 2014 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Jun-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q2 | ' |
Entity Registrant Name | 'INSIGHT ENTERPRISES INC | ' |
Entity Central Index Key | '0000932696 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 40,970,164 |
CONSOLIDATED_BALANCE_SHEETS_Un
CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $149,927 | $126,817 |
Accounts receivable, net of allowance for doubtful accounts of $19,628 and $19,908, respectively | 1,325,866 | 1,257,910 |
Inventories | 126,703 | 97,268 |
Inventories not available for sale | 43,683 | 38,705 |
Deferred income taxes | 16,945 | 16,436 |
Other current assets | 68,119 | 57,528 |
Total current assets | 1,731,243 | 1,594,664 |
Property and equipment, net of accumulated depreciation of $262,201 and $250,412, respectively | 117,386 | 132,820 |
Goodwill | 26,257 | 26,257 |
Intangible assets, net of accumulated amortization of $84,314 and $78,430, respectively | 30,123 | 35,765 |
Deferred income taxes | 58,880 | 58,651 |
Other assets | 12,686 | 19,561 |
Total assets | 1,976,575 | 1,867,718 |
Current liabilities: | ' | ' |
Accounts payable | 984,939 | 850,951 |
Accrued expenses and other current liabilities | 151,181 | 156,491 |
Current portion of long-term debt | 369 | 217 |
Deferred revenue | 55,390 | 44,146 |
Total current liabilities | 1,191,879 | 1,051,805 |
Long-term debt | 27,191 | 66,949 |
Deferred income taxes | 726 | 443 |
Other liabilities | 23,765 | 31,603 |
Total liabilities | 1,243,561 | 1,150,800 |
Commitments and contingencies | ' | ' |
Stockholders' equity: | ' | ' |
Preferred stock, $0.01 par value, 3,000 shares authorized; no shares issued | 0 | 0 |
Common stock, $0.01 par value, 100,000 shares authorized; 40,969 shares at June 30, 2014 and 42,023 shares at December 31, 2013 issued and outstanding | 410 | 420 |
Additional paid-in capital | 340,618 | 348,703 |
Retained earnings | 373,568 | 353,854 |
Accumulated other comprehensive income - foreign currency translation adjustments | 18,418 | 13,941 |
Total stockholders' equity | 733,014 | 716,918 |
Total liabilities and stockholders' equity | $1,976,575 | $1,867,718 |
CONSOLIDATED_BALANCE_SHEETS_Un1
CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, except Per Share data, unless otherwise specified | ||
Statement Of Financial Position [Abstract] | ' | ' |
Allowance for doubtful accounts receivable | $19,628 | $19,908 |
Accumulated depreciation of property and equipment | 262,201 | 250,412 |
Accumulated amortization of intangible assets | $84,314 | $78,430 |
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 | 40,969 | 42,023 |
Common stock, shares outstanding | 40,969 | 42,023 |
CONSOLIDATED_STATEMENTS_OF_OPE
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Income Statement [Abstract] | ' | ' | ' | ' |
Net sales | $1,417,897 | $1,416,547 | $2,632,427 | $2,598,169 |
Costs of goods sold | 1,223,298 | 1,225,620 | 2,274,083 | 2,249,105 |
Gross profit | 194,599 | 190,927 | 358,344 | 349,064 |
Operating expenses: | ' | ' | ' | ' |
Selling and administrative expenses | 147,810 | 143,158 | 290,239 | 284,146 |
Severance and restructuring expenses | 310 | 3,171 | 647 | 5,903 |
Earnings from operations | 46,479 | 44,598 | 67,458 | 59,015 |
Non-operating (income) expense: | ' | ' | ' | ' |
Interest income | -333 | -337 | -582 | -649 |
Interest expense | 1,501 | 1,556 | 2,959 | 3,174 |
Net foreign currency exchange loss (gain) | 461 | -886 | 957 | -725 |
Other expense, net | 443 | 342 | 692 | 716 |
Earnings before income taxes | 44,407 | 43,923 | 63,432 | 56,499 |
Income tax expense | 17,158 | 17,410 | 24,633 | 20,910 |
Net earnings | $27,249 | $26,513 | $38,799 | $35,589 |
Net earnings per share: | ' | ' | ' | ' |
Basic | $0.67 | $0.62 | $0.94 | $0.81 |
Diluted | $0.66 | $0.62 | $0.93 | $0.81 |
Shares used in per share calculations: | ' | ' | ' | ' |
Basic | 40,951 | 42,862 | 41,292 | 43,766 |
Diluted | 41,228 | 43,024 | 41,573 | 44,044 |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Statement Of Income And Comprehensive Income [Abstract] | ' | ' | ' | ' |
Net earnings | $27,249 | $26,513 | $38,799 | $35,589 |
Other comprehensive income (loss), net of tax: | ' | ' | ' | ' |
Foreign currency translation adjustments | 4,548 | -5,710 | 4,477 | -14,022 |
Total comprehensive income | $31,797 | $20,803 | $43,276 | $21,567 |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Cash flows from operating activities: | ' | ' |
Net earnings | $38,799 | $35,589 |
Adjustments to reconcile net earnings to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 20,781 | 20,870 |
Non-cash real estate impairment | 4,558 | ' |
Provision for losses on accounts receivable | 2,344 | 2,489 |
Write-downs of inventories | 845 | 2,502 |
Write-off of property and equipment | 487 | 51 |
Non-cash stock-based compensation | 3,684 | 3,595 |
Excess tax benefit from employee gains on stock-based compensation | -423 | -757 |
Deferred income taxes | -422 | 2,995 |
Changes in assets and liabilities: | ' | ' |
(Increase) decrease in accounts receivable | -61,142 | 25,499 |
Increase in inventories | -34,696 | -22,913 |
Increase in other current assets | -7,884 | -21,607 |
Decrease (increase) in other assets | 6,987 | -4,469 |
Increase in accounts payable | 133,294 | 52,458 |
Increase (decrease) in deferred revenue | 9,883 | -8,387 |
Decrease in accrued expenses and other liabilities | -13,380 | -165 |
Net cash provided by operating activities | 103,715 | 87,750 |
Cash flows from investing activities: | ' | ' |
Purchases of property and equipment | -5,342 | -10,529 |
Net cash used in investing activities | -5,342 | -10,529 |
Cash flows from financing activities: | ' | ' |
Borrowings on senior revolving credit facility | 218,492 | 541,035 |
Repayments on senior revolving credit facility | -234,992 | -571,035 |
Borrowings on accounts receivable securitization financing facility | 392,000 | 434,000 |
Repayments on accounts receivable securitization financing facility | -417,000 | -431,000 |
Borrowings under other financing agreements | 2,002 | ' |
Payments on capital lease obligation | -108 | -516 |
Net (repayments) borrowings under inventory financing facility | -6,557 | 362 |
Payment of deferred financing fees | -200 | ' |
Excess tax benefit from employee gains on stock-based compensation | 423 | 757 |
Payment of payroll taxes on stock-based compensation through shares withheld | -1,624 | -2,729 |
Repurchases of common stock | -29,652 | -50,000 |
Net cash used in financing activities | -77,216 | -79,126 |
Foreign currency exchange effect on cash balances | 1,953 | -8,049 |
Increase (decrease) in cash and cash equivalents | 23,110 | -9,954 |
Cash and cash equivalents at beginning of period | 126,817 | 152,119 |
Cash and cash equivalents at end of period | $149,927 | $142,165 |
Basis_of_Presentation_and_Rece
Basis of Presentation and Recently Issued Accounting Pronouncements | 6 Months Ended | ||
Jun. 30, 2014 | |||
Accounting Policies [Abstract] | ' | ||
Basis of Presentation and Recently Issued Accounting Pronouncements | ' | ||
1. Basis of Presentation and Recently Issued Accounting Pronouncements | |||
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 | ||
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. | |||
In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments necessary to present fairly our financial position as of June 30, 2014, our results of operations for the three and six months ended June 30, 2014 and 2013 and our cash flows for the six months ended June 30, 2014 and 2013. The consolidated balance sheet as of December 31, 2013 was derived from the audited consolidated balance sheet at such date. The accompanying unaudited consolidated financial statements and notes have been prepared in accordance with the rules and regulations promulgated by the Securities and Exchange Commission and consequently do not include all of the disclosures normally required by United States generally accepted accounting principles (“GAAP”). | |||
The results of operations for interim periods are not necessarily indicative of results for the full year, due in part to the seasonal nature of our business. These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements, including the related notes thereto, in our Annual Report on Form 10-K for the year ended December 31, 2013. | |||
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. | |||
The preparation of consolidated financial statements in conformity with 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. | |||
Recently Issued Accounting Pronouncements | |||
On May 28, 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, “Revenue from Contracts with Customers.” ASU 2014-09 was issued as the culmination of the joint project between the FASB and the International Accounting Standards Board (“IASB”) to clarify the principles for recognizing revenue and to develop a common revenue standard for GAAP and International Financial Reporting Standards. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 is effective for the fiscal year beginning after December 15, 2016, including interim periods within that reporting period. Early adoption is not permitted. An entity may choose to adopt the new standard either retrospectively or through a cumulative effect adjustment as of the start of the first period for which it applies the new standard. We are in the process of determining the effect that the adoption of ASU 2014-09 will have on our consolidated financial statements and disclosures and have not yet selected our planned transition approach. | |||
In July 2013, the FASB issued ASU 2013-11, “Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists.” ASU 2013-11 clarifies guidance and eliminates diversity in practice on the presentation of unrecognized tax benefits when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists at the reporting date. This new guidance became effective for annual reporting periods beginning after December 15, 2013 and subsequent interim periods. We applied the requirements of ASU 2013-11 prospectively beginning January 1, 2014, which resulted in a decrease to noncurrent deferred tax assets and a decrease to noncurrent reserves for uncertain tax positions of approximately $1,068,000 as of June 30, 2014. Had we applied the requirements of ASU 2013-11 retrospectively to the December 31, 2013 consolidated balance sheet, the effect would have been materially the same. | |||
There have been no other material changes or additions to the recently issued accounting pronouncements as previously reported in Note 1 to our Consolidated Financial Statements in Part II, Item 8 of our Annual Report on Form 10-K for the year ended December 31, 2013 that affect or may affect our financial statements. |
Net_Earnings_Per_Share_EPS
Net Earnings Per Share ("EPS") | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Net Earnings Per Share ("EPS") | ' | ||||||||||||||||
2. 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 period. 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 restricted stock units. A reconciliation of the denominators of the basic and diluted EPS calculations follows (in thousands, except per share data): | |||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||
June 30, | June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Numerator: | |||||||||||||||||
Net earnings | $ | 27,249 | $ | 26,513 | $ | 38,799 | $ | 35,589 | |||||||||
Denominator: | |||||||||||||||||
Weighted average shares used to compute basic EPS | 40,951 | 42,862 | 41,292 | 43,766 | |||||||||||||
Dilutive potential common shares due to dilutive restricted stock units, net of tax effect | 277 | 162 | 281 | 278 | |||||||||||||
Weighted average shares used to compute diluted EPS | 41,228 | 43,024 | 41,573 | 44,044 | |||||||||||||
Net earnings per share: | |||||||||||||||||
Basic | $ | 0.67 | $ | 0.62 | $ | 0.94 | $ | 0.81 | |||||||||
Diluted | $ | 0.66 | $ | 0.62 | $ | 0.93 | $ | 0.81 | |||||||||
For the three months ended June 30, 2014 and 2013, 1,000 and 520,000, respectively, of our restricted stock units were not included in the diluted EPS calculations because their inclusion would have been anti-dilutive. For the six months ended June 30, 2014 and 2013, the excluded restricted stock units were 31,000 and 352,000, respectively. These share-based awards could be dilutive in the future. |
Debt_Inventory_Financing_Facil
Debt, Inventory Financing Facility, Capital Lease and Other Financing Obligations | 6 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Debt, Inventory Financing Facility, Capital Lease and Other Financing Obligations | ' | ||||||||
3. Debt, Inventory Financing Facility, Capital Lease and Other Financing Obligations | |||||||||
Debt | |||||||||
Our long-term debt consists of the following (in thousands): | |||||||||
June 30, | December 31, | ||||||||
2014 | 2013 | ||||||||
Senior revolving credit facility | $ | — | $ | 16,500 | |||||
Accounts receivable securitization financing facility | 25,000 | 50,000 | |||||||
Capital lease and other financing obligations | 2,560 | 666 | |||||||
Total | 27,560 | 67,166 | |||||||
Less: current portion of capital lease and other financing obligations | (369 | ) | (217 | ) | |||||
Less: current portion of revolving credit facilities | — | — | |||||||
Long-term debt | $ | 27,191 | $ | 66,949 | |||||
Our senior revolving credit facility (“revolving facility”) has an aggregate U.S. dollar equivalent maximum borrowing capacity of $350,000,000. The revolving facility matures April 26, 2017, 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. As of June 30, 2014, $350,000,000 was available under the revolving facility. See “Debt Covenants” below. | |||||||||
On June 25, 2014, we entered into an amendment to our accounts receivable securitization financing facility (the “ABS facility”) to extend the maturity date of the facility from April 24, 2015 to June 30, 2017, to change the administrative agent and to modify fees for unused capacity under the facility. The maximum borrowing capacity of the ABS facility remained unchanged at $200,000,000. While the ABS facility has a stated maximum amount, the actual availability under the ABS facility is limited by the quantity and quality of the underlying accounts receivable. Under the ABS facility, the floating interest rate applicable at June 30, 2014 was 1.05% per annum. As of June 30, 2014, qualified receivables were sufficient to permit access to the full $200,000,000 facility amount, of which $25,000,000 was outstanding. See “Debt Covenants” below. | |||||||||
Debt 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 June 30, 2014, 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 combined facility maximum amount. Based on our maximum leverage ratio as of June 30, 2014, 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 $488,833,000, of which $25,000,000 was outstanding at June 30, 2014. | |||||||||
Inventory Financing Facility | |||||||||
Our inventory financing facility has a maximum borrowing capacity of $200,000,000 and matures on April 26, 2017. As of June 30, 2014 and December 31, 2013, $108,695,000 and $115,252,000, respectively, was included in accounts payable within our consolidated balance sheets related to our inventory financing facility. | |||||||||
Capital Lease and Other Financing Obligations | |||||||||
The present value of minimum lease payments under our capital lease, which expires on December 31, 2016, is included in our current and long-term debt balances as summarized in the table above. | |||||||||
From time to time, we also enter into other financing agreements with financial intermediaries to facilitate the purchase of products from certain vendors. At June 30, 2014, amounts owed under other financing agreements of $2,002,000, which are payable in installments through August 2016, are included in our current and long-term debt balances as summarized in the table above. |
Severance_and_Restructuring_Ac
Severance and Restructuring Activities | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Restructuring And Related Activities [Abstract] | ' | ||||||||||||||||
Severance and Restructuring Activities | ' | ||||||||||||||||
4. Severance and Restructuring Activities | |||||||||||||||||
Severance Costs Expensed for 2014 Resource Actions | |||||||||||||||||
During the three months ended June 30, 2014, North America, EMEA and APAC recorded severance expense totaling $128,000, $382,000 and $109,000, respectively, and during the six months ended June 30, 2014, North America, EMEA and APAC recorded severance expense totaling $524,000, $869,000 and $109,000, respectively, related to 2014 resource actions. These 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 2014 activity and the outstanding obligations related to the 2014 resource actions as of June 30, 2014 (in thousands): | |||||||||||||||||
North America | EMEA | APAC | Consolidated | ||||||||||||||
Severance costs | $ | 524 | $ | 869 | $ | 109 | $ | 1,502 | |||||||||
Foreign currency translation adjustments | — | (5 | ) | — | (5 | ) | |||||||||||
Cash payments | (414 | ) | (320 | ) | — | (734 | ) | ||||||||||
Balance at June 30, 2014 | $ | 110 | $ | 544 | $ | 109 | $ | 763 | |||||||||
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 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, relating 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 2014 activity and the outstanding obligations related to the 2013 resource actions as of June 30, 2014 (in thousands): | |||||||||||||||||
North America | EMEA | Consolidated | |||||||||||||||
Balance at December 31, 2013 | $ | 1,223 | $ | 2,910 | $ | 4,133 | |||||||||||
Foreign currency translation adjustments | (11 | ) | 8 | (3 | ) | ||||||||||||
Adjustments | (196 | ) | (394 | ) | (590 | ) | |||||||||||
Cash payments | (685 | ) | (1,884 | ) | (2,569 | ) | |||||||||||
Balance at June 30, 2014 | $ | 331 | $ | 640 | $ | 971 | |||||||||||
In North America and EMEA, adjustments were recorded to decrease severance and restructuring expense and the related severance accrual during the six months ended June 30, 2014 due to changes in estimates as cash payments were made. 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, associated with severance for the elimination of certain positions based on a re-alignment of roles and responsibilities. As of December 31, 2013, the total remaining obligations recorded in our North America and EMEA segments related to these resource actions were approximately $487,000 and $337,000, respectively. During the six months ended June 30, 2014, adjustments totaling $265,000 were recorded in North America to decrease severance and restructuring expense and the related severance accrual due to changes in estimates of the remaining payouts. The outstanding obligations as of June 30, 2014 of $222,000 and $335,000 in North America and EMEA, respectively, are expected to be paid during the next 12 months and are therefore included in accrued expenses and other current liabilities. |
StockBased_Compensation
Stock-Based Compensation | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||
Stock-Based Compensation | ' | ||||||||||||||||
5. Stock-Based Compensation | |||||||||||||||||
By operating segment, we recorded the following pre-tax amounts for stock-based compensation, net of estimated forfeitures, related to restricted stock units (“RSUs”) in selling and administrative expenses in our consolidated financial statements (in thousands): | |||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||
June 30, | June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
North America | $ | 1,478 | $ | 1,085 | $ | 2,839 | $ | 2,575 | |||||||||
EMEA | 383 | 366 | 718 | 898 | |||||||||||||
APAC | 65 | 54 | 127 | 122 | |||||||||||||
Total Consolidated | $ | 1,926 | $ | 1,505 | $ | 3,684 | $ | 3,595 | |||||||||
As of June 30, 2014, total compensation cost not yet recognized related to nonvested RSUs is $16,484,000, which is expected to be recognized over the next 1.45 years on a weighted-average basis. | |||||||||||||||||
The following table summarizes our RSU activity during the six months ended June 30, 2014: | |||||||||||||||||
Number | Weighted Average | Fair Value | |||||||||||||||
Grant Date Fair Value | |||||||||||||||||
Nonvested at January 1, 2014 | 811,565 | $ | 19.91 | ||||||||||||||
Granted(a) | 463,907 | 23.42 | |||||||||||||||
Vested, including shares withheld to cover taxes | (288,291 | ) | 19.57 | $ | 6,871,303 | (b) | |||||||||||
Forfeited | (40,439 | ) | 20.57 | ||||||||||||||
Nonvested at June 30, 2014(a) | 946,742 | 21.62 | $ | 29,102,849 | (c) | ||||||||||||
Expected to vest | 820,045 | $ | 25,208,183 | (c) | |||||||||||||
(a) | Includes 144,521 RSUs subject to remaining performance conditions. The number of RSUs ultimately awarded under the performance-based RSUs varies based on whether we achieve certain financial results for 2014. | ||||||||||||||||
(b) | 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. | ||||||||||||||||
(c) | The aggregate fair value represents the total pre-tax fair value, based on our closing stock price of $30.74 as of June 30, 2014, which would have been received by holders of RSUs had all such holders sold their underlying shares on that date. | ||||||||||||||||
During the six months ended June 30, 2014 and 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 obligations for the applicable income and other employment taxes and remitted the corresponding cash amount to the appropriate taxing authorities. The total shares withheld during the six months ended June 30, 2014 and 2013 of 69,792 and 135,400, respectively, were based on the value of the RSUs on their vesting date as determined by our closing stock price on such vesting date. For the six months ended June 30, 2014 and 2013, total payments for the employees’ tax obligations to the taxing authorities were $1,624,000 and $2,729,000, respectively, and are reflected as a financing activity within the consolidated statements of cash flows. These net-share settlements had the economic effect of repurchases of 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 a repurchase of shares or an expense to us. |
Impairment_Loss_on_Assets_Held
Impairment Loss on Assets Held for Sale | 6 Months Ended |
Jun. 30, 2014 | |
Goodwill And Intangible Assets Disclosure [Abstract] | ' |
Impairment Loss on Assets Held for Sale | ' |
6. Impairment Loss on Assets Held for Sale | |
In May 2014, we signed a lease that will result in the relocation of our sales and administrative operations that are currently housed in the property that we own in Bloomingdale, Illinois. We began marketing the property for sale in April 2014, and we expect to vacate the property by the end of 2014. The property is classified as a held for sale asset, which is included in other current assets in our accompanying consolidated balance sheet as of June 30, 2014. During the quarter ended June 30, 2014, our North America operating segment recorded non-cash charges of $5,178,000, consisting of an impairment loss of $4,558,000 and accelerated depreciation of $620,000, to reduce the carrying amount of the related assets to their estimated fair value less costs to sell. The charges are included in selling and administrative expenses in our accompanying consolidated statements of operations. |
Income_Taxes
Income Taxes | 6 Months Ended |
Jun. 30, 2014 | |
Income Tax Disclosure [Abstract] | ' |
Income Taxes | ' |
7. Income Taxes | |
Our effective tax rate for the three and six months ended June 30, 2014 was 38.6% and 38.8%, respectively. For the three and six months ended June 30, 2014, our effective tax rate was higher than the United States federal statutory rate of 35.0% due primarily to an increase in the valuation allowance for deferred tax assets related to certain foreign operating losses and foreign tax credits and to state income taxes, net of federal benefit. These increases in the effective rate were partially offset by the effect of lower taxes on earnings in foreign jurisdictions. | |
Our effective tax rate for the three and six months ended June 30, 2013 was 39.6% and 37.0%, respectively. For the three and six months ended June 30, 2013, our effective tax rate was higher than the United States federal statutory rate of 35.0% due primarily to an increase in the valuation allowance for deferred tax assets related to certain foreign operating losses and foreign tax credits and to state income taxes, net of federal benefit. These increases in the effective rate were partially offset by the effect of lower taxes on earnings in foreign jurisdictions. The six month rate during the 2013 period was lower than the rate for the second quarter of 2013 due to the recognition of certain tax benefits related to the re-measurement or settlement of specific uncertain tax positions during the first quarter of 2013. | |
As of June 30, 2014 and December 31, 2013, we had approximately $4,826,000 and $4,546,000, respectively, of unrecognized tax benefits. Of these amounts, approximately $420,000 and $364,000, respectively, related to accrued interest. | |
Several of our subsidiaries are currently under audit for tax years 2006 through 2013. 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. |
Derivative_Financial_Instrumen
Derivative Financial Instruments | 6 Months Ended | ||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||
Derivative Financial Instruments | ' | ||||||||||||||||||
8. 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. We do not designate our hedges for hedge accounting, and our foreign currency derivative instruments are not subject to any master netting arrangements with our counterparties. | |||||||||||||||||||
The following table summarizes our derivative financial instruments as of June 30, 2014 and December 31, 2013 (in thousands): | |||||||||||||||||||
June 30, 2014 | December 31, 2013 | ||||||||||||||||||
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 | $ | 16 | $ | — | $ | 91 | $ | — | ||||||||||
Total derivatives not designated as hedging instruments | $ | 16 | $ | — | $ | 91 | $ | — | |||||||||||
The following table summarizes the effect of our derivative financial instruments on our results of operations during the three and six months ended June 30, 2014 and 2013 (in thousands): | |||||||||||||||||||
Derivatives Not Designated | Location of (Gain) Loss | Amount of (Gain) Loss Recognized in | |||||||||||||||||
as Hedging Instruments | Recognized in | Earnings on Derivatives | |||||||||||||||||
Earnings on Derivatives | |||||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||||
June 30, | June 30, | ||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||
Foreign exchange forward contracts | Net foreign currency exchange (gain) loss | $ | (117 | ) | $ | 141 | $ | 108 | $ | (260 | ) | ||||||||
Total | $ | (117 | ) | $ | 141 | $ | 108 | $ | (260 | ) | |||||||||
Fair_Value_Measurements
Fair Value Measurements | 6 Months Ended | ||||||||||||
Jun. 30, 2014 | |||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||
Fair Value Measurements | ' | ||||||||||||
9. Fair Value Measurements | |||||||||||||
The following table summarizes the valuation of our foreign exchange derivative financial instruments by the following three categories as of June 30, 2014 and December 31, 2013 (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. | |||||||||||||
Balance Sheet Classification | June 30, | December 31, | |||||||||||
2014 | 2013 | ||||||||||||
Level 1 | $ | — | $ | — | |||||||||
Other current assets | Level 2 | 16 | 91 | ||||||||||
Level 3 | — | — | |||||||||||
16 | 91 | ||||||||||||
Share_Repurchase_Programs
Share Repurchase Programs | 6 Months Ended |
Jun. 30, 2014 | |
Equity [Abstract] | ' |
Share Repurchase Programs | ' |
10. Share Repurchase Programs | |
On October 30, 2013, we announced that our Board of Directors had authorized a 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. Under this repurchase authorization, we purchased 1,272,299 shares of our common stock on the open market at a total cost of approximately $29,652,000 (an average price of $23.31 per share) during the six months ended June 30, 2014, and all shares repurchased through June 30, 2014 have been retired. As of June 30, 2014, approximately $12,574,000 remains available for repurchases of our common stock under this repurchase program. | |
During the comparative six months ended June 30, 2013, we purchased 2,646,722 shares of our common stock on the open market at a total cost of approximately $50,000,000 (an average price of $18.89 per share) under a previous repurchase program that was authorized in February 2013 and completed in May 2013. All shares repurchased were retired. |
Commitments_and_Contingencies
Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2014 | |
Commitments And Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies | ' |
11. 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 June 30, 2014, we had approximately $1,565,000 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 them. | |
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 June 30, 2014. Accordingly, we have not accrued any liabilities related to such indemnifications in our consolidated financial statements. | |
We have entered into separate indemnification agreements with certain of 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 incurred 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 (“Calence”), 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. The claims in the second amended complaint are similar to the claims in the dismissed complaint. 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, and the proceedings in the District Court were stayed pending the resolution of the appeal. The appeal was filed and fully briefed, the Fifth Circuit heard oral arguments in April 2014 and, in July 2014, the Fifth Circuit reversed the District Court’s decision (with respect to the motions to dismiss which were not granted in the May 2013 order) and remanded the case to the District Court for further proceedings consistent with its decision regarding E-Rate claims under the False Claims Act. 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. | |
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. |
Segment_Information
Segment Information | 6 Months Ended | ||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||||||
Segment Information | ' | ||||||||||||||||||||||||
12. Segment 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 three and six months ended June 30, 2014 and 2013 (in thousands): | |||||||||||||||||||||||||
North America | EMEA | APAC | |||||||||||||||||||||||
Three Months Ended | Three Months Ended | Three Months Ended | |||||||||||||||||||||||
June 30, | June 30, | June 30, | |||||||||||||||||||||||
Sales Mix | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Hardware | $ | 527,187 | $ | 531,068 | $ | 139,423 | $ | 108,826 | $ | 4,043 | $ | 1,995 | |||||||||||||
Software | 310,838 | 337,033 | 297,014 | 302,472 | 74,915 | 68,482 | |||||||||||||||||||
Services | 51,227 | 54,962 | 10,420 | 9,818 | 2,830 | 1,891 | |||||||||||||||||||
$ | 889,252 | $ | 923,063 | $ | 446,857 | $ | 421,116 | $ | 81,788 | $ | 72,368 | ||||||||||||||
North America | EMEA | APAC | |||||||||||||||||||||||
Six Months Ended | Six Months Ended | Six Months Ended | |||||||||||||||||||||||
June 30, | June 30, | June 30, | |||||||||||||||||||||||
Sales Mix | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Hardware | $ | 1,015,597 | $ | 1,002,134 | $ | 291,277 | $ | 250,502 | $ | 5,634 | $ | 2,829 | |||||||||||||
Software | 557,009 | 559,404 | 525,429 | 538,862 | 117,734 | 113,672 | |||||||||||||||||||
Services | 97,328 | 108,529 | 18,094 | 18,663 | 4,325 | 3,574 | |||||||||||||||||||
$ | 1,669,934 | $ | 1,670,067 | $ | 834,800 | $ | 808,027 | $ | 127,693 | $ | 120,075 | ||||||||||||||
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 and on a consolidated basis. Net sales are defined as net sales to external clients. None of our clients exceeded ten percent of consolidated net sales for the three or six months ended June 30, 2014. | |||||||||||||||||||||||||
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 three months ended June 30, 2014 and 2013 (in thousands): | |||||||||||||||||||||||||
Three Months Ended June 30, 2014 | |||||||||||||||||||||||||
North America | EMEA | APAC | Consolidated | ||||||||||||||||||||||
Net sales | $ | 889,252 | $ | 446,857 | $ | 81,788 | $ | 1,417,897 | |||||||||||||||||
Costs of goods sold | 764,214 | 390,771 | 68,313 | 1,223,298 | |||||||||||||||||||||
Gross profit | 125,038 | 56,086 | 13,475 | 194,599 | |||||||||||||||||||||
Operating expenses: | |||||||||||||||||||||||||
Selling and administrative expenses | 94,558 | 46,030 | 7,222 | 147,810 | |||||||||||||||||||||
Severance and restructuring expenses | (14 | ) | 215 | 109 | 310 | ||||||||||||||||||||
Earnings from operations | $ | 30,494 | $ | 9,841 | $ | 6,144 | $ | 46,479 | |||||||||||||||||
Total assets at period end | $ | 1,687,341 | $ | 623,873 | $ | 194,982 | $ | 2,506,196 | * | ||||||||||||||||
* | Consolidated total assets do not reflect the net effect of corporate assets and intercompany eliminations of $529,621,000. | ||||||||||||||||||||||||
Three Months Ended June 30, 2013 | |||||||||||||||||||||||||
North America | EMEA | APAC | Consolidated | ||||||||||||||||||||||
Net sales | $ | 923,063 | $ | 421,116 | $ | 72,368 | $ | 1,416,547 | |||||||||||||||||
Costs of goods sold | 798,399 | 366,878 | 60,343 | 1,225,620 | |||||||||||||||||||||
Gross profit | 124,664 | 54,238 | 12,025 | 190,927 | |||||||||||||||||||||
Operating expenses: | |||||||||||||||||||||||||
Selling and administrative expenses | 90,295 | 46,309 | 6,554 | 143,158 | |||||||||||||||||||||
Severance and restructuring expenses | 967 | 2,204 | — | 3,171 | |||||||||||||||||||||
Earnings from operations | $ | 33,402 | $ | 5,725 | $ | 5,471 | $ | 44,598 | |||||||||||||||||
Total assets at period end | $ | 1,710,852 | $ | 601,624 | $ | 152,218 | $ | 2,464,694 | ** | ||||||||||||||||
** | Consolidated total assets do not reflect the net effect of corporate assets and intercompany eliminations of $497,459,000. | ||||||||||||||||||||||||
The tables below present information about our reportable operating segments as of and for the six months ended June 30, 2014 and 2013 (in thousands): | |||||||||||||||||||||||||
Six Months Ended June 30, 2014 | |||||||||||||||||||||||||
North America | EMEA | APAC | Consolidated | ||||||||||||||||||||||
Net sales | $ | 1,669,934 | $ | 834,800 | $ | 127,693 | $ | 2,632,427 | |||||||||||||||||
Costs of goods sold | 1,437,483 | 729,393 | 107,207 | 2,274,083 | |||||||||||||||||||||
Gross profit | 232,451 | 105,407 | 20,486 | 358,344 | |||||||||||||||||||||
Operating expenses: | |||||||||||||||||||||||||
Selling and administrative expenses | 183,739 | 93,135 | 13,365 | 290,239 | |||||||||||||||||||||
Severance and restructuring expenses | 63 | 475 | 109 | 647 | |||||||||||||||||||||
Earnings from operations | $ | 48,649 | $ | 11,797 | $ | 7,012 | $ | 67,458 | |||||||||||||||||
Total assets at period end | $ | 1,687,341 | $ | 623,873 | $ | 194,982 | $ | 2,506,196 | * | ||||||||||||||||
* | Consolidated total assets do not reflect the net effect of corporate assets and intercompany eliminations of $529,621,000. | ||||||||||||||||||||||||
Six Months Ended June 30, 2013 | |||||||||||||||||||||||||
North America | EMEA | APAC | Consolidated | ||||||||||||||||||||||
Net sales | $ | 1,670,067 | $ | 808,027 | $ | 120,075 | $ | 2,598,169 | |||||||||||||||||
Costs of goods sold | 1,442,876 | 705,179 | 101,050 | 2,249,105 | |||||||||||||||||||||
Gross profit | 227,191 | 102,848 | 19,025 | 349,064 | |||||||||||||||||||||
Operating expenses: | |||||||||||||||||||||||||
Selling and administrative expenses | 179,491 | 92,065 | 12,590 | 284,146 | |||||||||||||||||||||
Severance and restructuring expenses | 2,024 | 3,879 | — | 5,903 | |||||||||||||||||||||
Earnings from operations | $ | 45,676 | $ | 6,904 | $ | 6,435 | $ | 59,015 | |||||||||||||||||
Total assets at period end | $ | 1,710,852 | $ | 601,624 | $ | 152,218 | $ | 2,464,694 | ** | ||||||||||||||||
** | Consolidated total assets do not reflect the net effect of corporate assets and intercompany eliminations of $497,459,000. | ||||||||||||||||||||||||
We recorded the following pre-tax amounts, by operating segment, for depreciation and amortization, in the accompanying consolidated financial statements (in thousands): | |||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||
North America | $ | 8,372 | $ | 8,147 | $ | 16,044 | $ | 16,307 | |||||||||||||||||
EMEA | 2,153 | 2,064 | 4,330 | 4,121 | |||||||||||||||||||||
APAC | 230 | 205 | 407 | 442 | |||||||||||||||||||||
Total | $ | 10,755 | $ | 10,416 | $ | 20,781 | $ | 20,870 | |||||||||||||||||
Basis_of_Presentation_and_Rece1
Basis of Presentation and Recently Issued Accounting Pronouncements (Policies) | 6 Months Ended |
Jun. 30, 2014 | |
Accounting Policies [Abstract] | ' |
Recently Issued Accounting Pronouncements | ' |
Recently Issued Accounting Pronouncements | |
On May 28, 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, “Revenue from Contracts with Customers.” ASU 2014-09 was issued as the culmination of the joint project between the FASB and the International Accounting Standards Board (“IASB”) to clarify the principles for recognizing revenue and to develop a common revenue standard for GAAP and International Financial Reporting Standards. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 is effective for the fiscal year beginning after December 15, 2016, including interim periods within that reporting period. Early adoption is not permitted. An entity may choose to adopt the new standard either retrospectively or through a cumulative effect adjustment as of the start of the first period for which it applies the new standard. We are in the process of determining the effect that the adoption of ASU 2014-09 will have on our consolidated financial statements and disclosures and have not yet selected our planned transition approach. | |
In July 2013, the FASB issued ASU 2013-11, “Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists.” ASU 2013-11 clarifies guidance and eliminates diversity in practice on the presentation of unrecognized tax benefits when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists at the reporting date. This new guidance became effective for annual reporting periods beginning after December 15, 2013 and subsequent interim periods. We applied the requirements of ASU 2013-11 prospectively beginning January 1, 2014, which resulted in a decrease to noncurrent deferred tax assets and a decrease to noncurrent reserves for uncertain tax positions of approximately $1,068,000 as of June 30, 2014. Had we applied the requirements of ASU 2013-11 retrospectively to the December 31, 2013 consolidated balance sheet, the effect would have been materially the same. | |
There have been no other material changes or additions to the recently issued accounting pronouncements as previously reported in Note 1 to our Consolidated Financial Statements in Part II, Item 8 of our Annual Report on Form 10-K for the year ended December 31, 2013 that affect or may affect our financial statements. |
Net_Earnings_Per_Share_EPS_Tab
Net Earnings Per Share ("EPS") (Tables) | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
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): | |||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||
June 30, | June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Numerator: | |||||||||||||||||
Net earnings | $ | 27,249 | $ | 26,513 | $ | 38,799 | $ | 35,589 | |||||||||
Denominator: | |||||||||||||||||
Weighted average shares used to compute basic EPS | 40,951 | 42,862 | 41,292 | 43,766 | |||||||||||||
Dilutive potential common shares due to dilutive restricted stock units, net of tax effect | 277 | 162 | 281 | 278 | |||||||||||||
Weighted average shares used to compute diluted EPS | 41,228 | 43,024 | 41,573 | 44,044 | |||||||||||||
Net earnings per share: | |||||||||||||||||
Basic | $ | 0.67 | $ | 0.62 | $ | 0.94 | $ | 0.81 | |||||||||
Diluted | $ | 0.66 | $ | 0.62 | $ | 0.93 | $ | 0.81 | |||||||||
Debt_Inventory_Financing_Facil1
Debt, Inventory Financing Facility, Capital Lease and Other Financing Obligations (Tables) | 6 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Long-Term Debt | ' | ||||||||
Our long-term debt consists of the following (in thousands): | |||||||||
June 30, | December 31, | ||||||||
2014 | 2013 | ||||||||
Senior revolving credit facility | $ | — | $ | 16,500 | |||||
Accounts receivable securitization financing facility | 25,000 | 50,000 | |||||||
Capital lease and other financing obligations | 2,560 | 666 | |||||||
Total | 27,560 | 67,166 | |||||||
Less: current portion of capital lease and other financing obligations | (369 | ) | (217 | ) | |||||
Less: current portion of revolving credit facilities | — | — | |||||||
Long-term debt | $ | 27,191 | $ | 66,949 | |||||
Severance_and_Restructuring_Ac1
Severance and Restructuring Activities (Tables) | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
2014 Resource Actions [Member] | ' | ||||||||||||||||
Activity and Outstanding Obligation Related to Resource Actions | ' | ||||||||||||||||
The following table details the 2014 activity and the outstanding obligations related to the 2014 resource actions as of June 30, 2014 (in thousands): | |||||||||||||||||
North America | EMEA | APAC | Consolidated | ||||||||||||||
Severance costs | $ | 524 | $ | 869 | $ | 109 | $ | 1,502 | |||||||||
Foreign currency translation adjustments | — | (5 | ) | — | (5 | ) | |||||||||||
Cash payments | (414 | ) | (320 | ) | — | (734 | ) | ||||||||||
Balance at June 30, 2014 | $ | 110 | $ | 544 | $ | 109 | $ | 763 | |||||||||
2013 Resource Actions [Member] | ' | ||||||||||||||||
Activity and Outstanding Obligation Related to Resource Actions | ' | ||||||||||||||||
The following table details the 2014 activity and the outstanding obligations related to the 2013 resource actions as of June 30, 2014 (in thousands): | |||||||||||||||||
North America | EMEA | Consolidated | |||||||||||||||
Balance at December 31, 2013 | $ | 1,223 | $ | 2,910 | $ | 4,133 | |||||||||||
Foreign currency translation adjustments | (11 | ) | 8 | (3 | ) | ||||||||||||
Adjustments | (196 | ) | (394 | ) | (590 | ) | |||||||||||
Cash payments | (685 | ) | (1,884 | ) | (2,569 | ) | |||||||||||
Balance at June 30, 2014 | $ | 331 | $ | 640 | $ | 971 | |||||||||||
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||
Pre-tax Amounts by Operating Segment for Stock-Based Compensation | ' | ||||||||||||||||
By operating segment, we recorded the following pre-tax amounts for stock-based compensation, net of estimated forfeitures, related to restricted stock units (“RSUs”) in selling and administrative expenses in our consolidated financial statements (in thousands): | |||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||
June 30, | June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
North America | $ | 1,478 | $ | 1,085 | $ | 2,839 | $ | 2,575 | |||||||||
EMEA | 383 | 366 | 718 | 898 | |||||||||||||
APAC | 65 | 54 | 127 | 122 | |||||||||||||
Total Consolidated | $ | 1,926 | $ | 1,505 | $ | 3,684 | $ | 3,595 | |||||||||
Summary of Restricted Stock Units | ' | ||||||||||||||||
The following table summarizes our RSU activity during the six months ended June 30, 2014: | |||||||||||||||||
Number | Weighted Average | Fair Value | |||||||||||||||
Grant Date Fair Value | |||||||||||||||||
Nonvested at January 1, 2014 | 811,565 | $ | 19.91 | ||||||||||||||
Granted(a) | 463,907 | 23.42 | |||||||||||||||
Vested, including shares withheld to cover taxes | (288,291 | ) | 19.57 | $ | 6,871,303 | (b) | |||||||||||
Forfeited | (40,439 | ) | 20.57 | ||||||||||||||
Nonvested at June 30, 2014(a) | 946,742 | 21.62 | $ | 29,102,849 | (c) | ||||||||||||
Expected to vest | 820,045 | $ | 25,208,183 | (c) | |||||||||||||
(a) | Includes 144,521 RSUs subject to remaining performance conditions. The number of RSUs ultimately awarded under the performance-based RSUs varies based on whether we achieve certain financial results for 2014. | ||||||||||||||||
(b) | 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. | ||||||||||||||||
(c) | The aggregate fair value represents the total pre-tax fair value, based on our closing stock price of $30.74 as of June 30, 2014, which would have been received by holders of RSUs had all such holders sold their underlying shares on that date. |
Derivative_Financial_Instrumen1
Derivative Financial Instruments (Tables) | 6 Months Ended | ||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||
Summary of Derivative Financial Instruments | ' | ||||||||||||||||||
The following table summarizes our derivative financial instruments as of June 30, 2014 and December 31, 2013 (in thousands): | |||||||||||||||||||
June 30, 2014 | December 31, 2013 | ||||||||||||||||||
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 | $ | 16 | $ | — | $ | 91 | $ | — | ||||||||||
Total derivatives not designated as hedging instruments | $ | 16 | $ | — | $ | 91 | $ | — | |||||||||||
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 three and six months ended June 30, 2014 and 2013 (in thousands): | |||||||||||||||||||
Derivatives Not Designated | Location of (Gain) Loss | Amount of (Gain) Loss Recognized in | |||||||||||||||||
as Hedging Instruments | Recognized in | Earnings on Derivatives | |||||||||||||||||
Earnings on Derivatives | |||||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||||
June 30, | June 30, | ||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||
Foreign exchange forward contracts | Net foreign currency exchange (gain) loss | $ | (117 | ) | $ | 141 | $ | 108 | $ | (260 | ) | ||||||||
Total | $ | (117 | ) | $ | 141 | $ | 108 | $ | (260 | ) | |||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 6 Months Ended | ||||||||||||
Jun. 30, 2014 | |||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||
Summary of Valuation of Financial Instruments | ' | ||||||||||||
The following table summarizes the valuation of our foreign exchange derivative financial instruments by the following three categories as of June 30, 2014 and December 31, 2013 (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. | |||||||||||||
Balance Sheet Classification | June 30, | December 31, | |||||||||||
2014 | 2013 | ||||||||||||
Level 1 | $ | — | $ | — | |||||||||
Other current assets | Level 2 | 16 | 91 | ||||||||||
Level 3 | — | — | |||||||||||
16 | 91 | ||||||||||||
Segment_Information_Tables
Segment Information (Tables) | 6 Months Ended | ||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||
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 three and six months ended June 30, 2014 and 2013 (in thousands): | |||||||||||||||||||||||||
North America | EMEA | APAC | |||||||||||||||||||||||
Three Months Ended | Three Months Ended | Three Months Ended | |||||||||||||||||||||||
June 30, | June 30, | June 30, | |||||||||||||||||||||||
Sales Mix | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Hardware | $ | 527,187 | $ | 531,068 | $ | 139,423 | $ | 108,826 | $ | 4,043 | $ | 1,995 | |||||||||||||
Software | 310,838 | 337,033 | 297,014 | 302,472 | 74,915 | 68,482 | |||||||||||||||||||
Services | 51,227 | 54,962 | 10,420 | 9,818 | 2,830 | 1,891 | |||||||||||||||||||
$ | 889,252 | $ | 923,063 | $ | 446,857 | $ | 421,116 | $ | 81,788 | $ | 72,368 | ||||||||||||||
North America | EMEA | APAC | |||||||||||||||||||||||
Six Months Ended | Six Months Ended | Six Months Ended | |||||||||||||||||||||||
June 30, | June 30, | June 30, | |||||||||||||||||||||||
Sales Mix | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||
Hardware | $ | 1,015,597 | $ | 1,002,134 | $ | 291,277 | $ | 250,502 | $ | 5,634 | $ | 2,829 | |||||||||||||
Software | 557,009 | 559,404 | 525,429 | 538,862 | 117,734 | 113,672 | |||||||||||||||||||
Services | 97,328 | 108,529 | 18,094 | 18,663 | 4,325 | 3,574 | |||||||||||||||||||
$ | 1,669,934 | $ | 1,670,067 | $ | 834,800 | $ | 808,027 | $ | 127,693 | $ | 120,075 | ||||||||||||||
Financial Information about Reportable Operating Segments | ' | ||||||||||||||||||||||||
The tables below present information about our reportable operating segments as of and for the three months ended June 30, 2014 and 2013 (in thousands): | |||||||||||||||||||||||||
Three Months Ended June 30, 2014 | |||||||||||||||||||||||||
North America | EMEA | APAC | Consolidated | ||||||||||||||||||||||
Net sales | $ | 889,252 | $ | 446,857 | $ | 81,788 | $ | 1,417,897 | |||||||||||||||||
Costs of goods sold | 764,214 | 390,771 | 68,313 | 1,223,298 | |||||||||||||||||||||
Gross profit | 125,038 | 56,086 | 13,475 | 194,599 | |||||||||||||||||||||
Operating expenses: | |||||||||||||||||||||||||
Selling and administrative expenses | 94,558 | 46,030 | 7,222 | 147,810 | |||||||||||||||||||||
Severance and restructuring expenses | (14 | ) | 215 | 109 | 310 | ||||||||||||||||||||
Earnings from operations | $ | 30,494 | $ | 9,841 | $ | 6,144 | $ | 46,479 | |||||||||||||||||
Total assets at period end | $ | 1,687,341 | $ | 623,873 | $ | 194,982 | $ | 2,506,196 | * | ||||||||||||||||
* | Consolidated total assets do not reflect the net effect of corporate assets and intercompany eliminations of $529,621,000. | ||||||||||||||||||||||||
Three Months Ended June 30, 2013 | |||||||||||||||||||||||||
North America | EMEA | APAC | Consolidated | ||||||||||||||||||||||
Net sales | $ | 923,063 | $ | 421,116 | $ | 72,368 | $ | 1,416,547 | |||||||||||||||||
Costs of goods sold | 798,399 | 366,878 | 60,343 | 1,225,620 | |||||||||||||||||||||
Gross profit | 124,664 | 54,238 | 12,025 | 190,927 | |||||||||||||||||||||
Operating expenses: | |||||||||||||||||||||||||
Selling and administrative expenses | 90,295 | 46,309 | 6,554 | 143,158 | |||||||||||||||||||||
Severance and restructuring expenses | 967 | 2,204 | — | 3,171 | |||||||||||||||||||||
Earnings from operations | $ | 33,402 | $ | 5,725 | $ | 5,471 | $ | 44,598 | |||||||||||||||||
Total assets at period end | $ | 1,710,852 | $ | 601,624 | $ | 152,218 | $ | 2,464,694 | ** | ||||||||||||||||
** | Consolidated total assets do not reflect the net effect of corporate assets and intercompany eliminations of $497,459,000. | ||||||||||||||||||||||||
The tables below present information about our reportable operating segments as of and for the six months ended June 30, 2014 and 2013 (in thousands): | |||||||||||||||||||||||||
Six Months Ended June 30, 2014 | |||||||||||||||||||||||||
North America | EMEA | APAC | Consolidated | ||||||||||||||||||||||
Net sales | $ | 1,669,934 | $ | 834,800 | $ | 127,693 | $ | 2,632,427 | |||||||||||||||||
Costs of goods sold | 1,437,483 | 729,393 | 107,207 | 2,274,083 | |||||||||||||||||||||
Gross profit | 232,451 | 105,407 | 20,486 | 358,344 | |||||||||||||||||||||
Operating expenses: | |||||||||||||||||||||||||
Selling and administrative expenses | 183,739 | 93,135 | 13,365 | 290,239 | |||||||||||||||||||||
Severance and restructuring expenses | 63 | 475 | 109 | 647 | |||||||||||||||||||||
Earnings from operations | $ | 48,649 | $ | 11,797 | $ | 7,012 | $ | 67,458 | |||||||||||||||||
Total assets at period end | $ | 1,687,341 | $ | 623,873 | $ | 194,982 | $ | 2,506,196 | * | ||||||||||||||||
* | Consolidated total assets do not reflect the net effect of corporate assets and intercompany eliminations of $529,621,000. | ||||||||||||||||||||||||
Six Months Ended June 30, 2013 | |||||||||||||||||||||||||
North America | EMEA | APAC | Consolidated | ||||||||||||||||||||||
Net sales | $ | 1,670,067 | $ | 808,027 | $ | 120,075 | $ | 2,598,169 | |||||||||||||||||
Costs of goods sold | 1,442,876 | 705,179 | 101,050 | 2,249,105 | |||||||||||||||||||||
Gross profit | 227,191 | 102,848 | 19,025 | 349,064 | |||||||||||||||||||||
Operating expenses: | |||||||||||||||||||||||||
Selling and administrative expenses | 179,491 | 92,065 | 12,590 | 284,146 | |||||||||||||||||||||
Severance and restructuring expenses | 2,024 | 3,879 | — | 5,903 | |||||||||||||||||||||
Earnings from operations | $ | 45,676 | $ | 6,904 | $ | 6,435 | $ | 59,015 | |||||||||||||||||
Total assets at period end | $ | 1,710,852 | $ | 601,624 | $ | 152,218 | $ | 2,464,694 | ** | ||||||||||||||||
** | Consolidated total assets do not reflect the net effect of corporate assets and intercompany eliminations of $497,459,000. | ||||||||||||||||||||||||
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): | |||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||
North America | $ | 8,372 | $ | 8,147 | $ | 16,044 | $ | 16,307 | |||||||||||||||||
EMEA | 2,153 | 2,064 | 4,330 | 4,121 | |||||||||||||||||||||
APAC | 230 | 205 | 407 | 442 | |||||||||||||||||||||
Total | $ | 10,755 | $ | 10,416 | $ | 20,781 | $ | 20,870 | |||||||||||||||||
Basis_of_Presentation_and_Rece2
Basis of Presentation and Recently Issued Accounting Pronouncements - Additional Information (Detail) (USD $) | 6 Months Ended |
Jun. 30, 2014 | |
Segment | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | ' |
Number of operating segments | 3 |
Quantitative effect of adoption of ASU 2013-11 | $1,068,000 |
Net_Earnings_Per_Share_EPS_Rec
Net Earnings Per Share ("EPS") - Reconciliation of Denominators of Basic and Diluted EPS Calculations (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Numerator: | ' | ' | ' | ' |
Net earnings | $27,249 | $26,513 | $38,799 | $35,589 |
Denominator: | ' | ' | ' | ' |
Weighted average shares used to compute basic EPS | 40,951 | 42,862 | 41,292 | 43,766 |
Dilutive potential common shares due to dilutive restricted stock units, net of tax effect | 277 | 162 | 281 | 278 |
Weighted average shares used to compute diluted EPS | 41,228 | 43,024 | 41,573 | 44,044 |
Net earnings per share: | ' | ' | ' | ' |
Basic | $0.67 | $0.62 | $0.94 | $0.81 |
Diluted | $0.66 | $0.62 | $0.93 | $0.81 |
Net_Earnings_Per_Share_EPS_Add
Net Earnings Per Share ("EPS") - Additional Information (Detail) (Restricted Stock Units (RSUs) [Member]) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Weighted-average outstanding restricted stock units excluded in the diluted EPS calculations | 1,000 | 520,000 | 31,000 | 352,000 |
Debt_Capital_Lease_Obligation_
Debt, Capital Lease Obligation and Inventory Financing Facility - Long-Term Debt (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Debt Disclosure [Abstract] | ' | ' |
Senior revolving credit facility | $0 | $16,500 |
Accounts receivable securitization financing facility | 25,000 | 50,000 |
Capital lease and other financing obligations | 2,560 | 666 |
Total | 27,560 | 67,166 |
Total | 27,560 | 67,166 |
Less: current portion of capital lease and other financing obligations | -369 | -217 |
Less: current portion of revolving credit facilities | 0 | 0 |
Long-term debt | $27,191 | $66,949 |
Debt_Capital_Lease_Obligation_1
Debt, Capital Lease Obligation and Inventory Financing Facility - Additional Information (Detail) (USD $) | 6 Months Ended | |
Jun. 30, 2014 | Dec. 31, 2013 | |
Debt Instrument [Line Items] | ' | ' |
Accounts receivable securitization financing facility | $25,000,000 | $50,000,000 |
Covenants compliance | 'At June 30, 2014, 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 | 488,833,000 | ' |
Maximum combined borrowing capacity under senior revolving credit facility and ABS facility | 550,000,000 | ' |
Inventory financing facility maximum borrowing capacity | 200,000,000 | ' |
Inventory financing facility maturity date | 26-Apr-17 | ' |
Inventory financing facility | 108,695,000 | 115,252,000 |
Amount owed under other financing agreement | 2,002,000 | ' |
Senior Revolving Credit Facility [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Maximum borrowing capacity | 350,000,000 | ' |
Remaining borrowing capacity available under senior revolving credit facility | 350,000,000 | ' |
Maturity date | 26-Apr-17 | ' |
ABS Facility [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Maximum borrowing capacity | 200,000,000 | ' |
Maturity date | 30-Jun-17 | ' |
Amount of facility permitted by qualified receivables | 200,000,000 | ' |
Prime rate | 1.05% | ' |
Accounts receivable securitization financing facility | $25,000,000 | ' |
Severance_and_Restructuring_Ac2
Severance and Restructuring Activities - Additional Information (Detail) (USD $) | 6 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | |||||||
Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2012 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | |
2013 Resource Actions [Member] | 2013 Resource Actions [Member] | 2014 Resource Actions [Member] | North America Segment [Member] | North America Segment [Member] | North America Segment [Member] | North America Segment [Member] | North America Segment [Member] | North America Segment [Member] | North America Segment [Member] | EMEA Segment [Member] | EMEA Segment [Member] | EMEA Segment [Member] | EMEA Segment [Member] | EMEA Segment [Member] | EMEA Segment [Member] | EMEA Segment [Member] | APAC Segment [Member] | APAC Segment [Member] | |
2013 Resource Actions [Member] | 2013 Resource Actions [Member] | 2012 Resource Actions [Member] | 2012 Resource Actions [Member] | 2012 Resource Actions [Member] | 2014 Resource Actions [Member] | 2014 Resource Actions [Member] | 2013 Resource Actions [Member] | 2013 Resource Actions [Member] | 2012 Resource Actions [Member] | 2012 Resource Actions [Member] | 2012 Resource Actions [Member] | 2014 Resource Actions [Member] | 2014 Resource Actions [Member] | 2014 Resource Actions [Member] | 2014 Resource Actions [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Severance expense | ' | ' | $1,502,000 | ' | $3,429,000 | ' | $3,022,000 | ' | $128,000 | $524,000 | ' | $9,603,000 | $3,973,000 | ' | ' | $382,000 | $869,000 | $109,000 | $109,000 |
Recorded outstanding obligations relating to restructuring reserves | 971,000 | 4,133,000 | 763,000 | 331,000 | 1,223,000 | 222,000 | ' | 487,000 | 110,000 | 110,000 | 640,000 | 2,910,000 | ' | 335,000 | 337,000 | 544,000 | 544,000 | 109,000 | 109,000 |
Restructuring reserve adjustments | ($590,000) | ' | ' | ($196,000) | ' | $265,000 | ' | ' | ' | ' | ($394,000) | ' | ' | ' | ' | ' | ' | ' | ' |
Severance_and_Restructuring_Ac3
Severance and Restructuring Activities - 2014 Activity and Outstanding Obligation Related to Resource Actions (Detail) (USD $) | 6 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | |
2014 Resource Actions [Member] | 2013 Resource Actions [Member] | North America Segment [Member] | North America Segment [Member] | North America Segment [Member] | North America Segment [Member] | EMEA Segment [Member] | EMEA Segment [Member] | EMEA Segment [Member] | EMEA Segment [Member] | APAC Segment [Member] | APAC Segment [Member] | |
2014 Resource Actions [Member] | 2014 Resource Actions [Member] | 2013 Resource Actions [Member] | 2013 Resource Actions [Member] | 2014 Resource Actions [Member] | 2014 Resource Actions [Member] | 2013 Resource Actions [Member] | 2013 Resource Actions [Member] | 2014 Resource Actions [Member] | 2014 Resource Actions [Member] | |||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Beginning Balance | ' | $4,133,000 | ' | ' | $1,223,000 | ' | ' | ' | $2,910,000 | ' | ' | ' |
Severance costs | 1,502,000 | ' | 128,000 | 524,000 | ' | 3,429,000 | 382,000 | 869,000 | ' | 9,603,000 | 109,000 | 109,000 |
Foreign currency translation adjustments | -5,000 | -3,000 | ' | ' | -11,000 | ' | ' | -5,000 | 8,000 | ' | ' | ' |
Adjustments | ' | -590,000 | ' | ' | -196,000 | ' | ' | ' | -394,000 | ' | ' | ' |
Cash payments | -734,000 | -2,569,000 | ' | -414,000 | -685,000 | ' | ' | -320,000 | -1,884,000 | ' | ' | ' |
Ending balance | $763,000 | $971,000 | $110,000 | $110,000 | $331,000 | $1,223,000 | $544,000 | $544,000 | $640,000 | $2,910,000 | $109,000 | $109,000 |
StockBased_Compensation_Pretax
Stock-Based Compensation - Pre-tax Amounts by Operating Segment for Stock-Based Compensation (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Stock-based compensation expense related to restricted stock units (RSUs) | $1,926 | $1,505 | $3,684 | $3,595 |
North America Segment [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Stock-based compensation expense related to restricted stock units (RSUs) | 1,478 | 1,085 | 2,839 | 2,575 |
EMEA Segment [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Stock-based compensation expense related to restricted stock units (RSUs) | 383 | 366 | 718 | 898 |
APAC Segment [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Stock-based compensation expense related to restricted stock units (RSUs) | $65 | $54 | $127 | $122 |
StockBased_Compensation_Additi
Stock-Based Compensation - Additional Information (Detail) (USD $) | 6 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Payments for employees' tax obligations to taxing authorities | $1,624,000 | $2,729,000 |
Restricted Stock Units (RSUs) [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Total compensation cost related to RSU's not yet recognized | 16,484,000 | ' |
Weighted average number of years for recognition of outstanding nonvested RSUs | '1 year 5 months 12 days | ' |
Shares withheld to cover taxes | 69,792 | 135,400 |
Payments for employees' tax obligations to taxing authorities | $1,624,000 | $2,729,000 |
StockBased_Compensation_Summar
Stock-Based Compensation - Summary of Restricted Stock Units (Detail) (Restricted Stock Units (RSUs) [Member], USD $) | 6 Months Ended |
Jun. 30, 2014 | |
Restricted Stock Units (RSUs) [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Nonvested Number, Beginning balance | 811,565 |
Number, Granted | 463,907 |
Number, Vested, including shares withheld to cover taxes | -288,291 |
Number, Forfeited | -40,439 |
Nonvested Number, Ending balance | 946,742 |
Number, Expected to vest | 820,045 |
Nonvested Weighted Average Grant Date Fair Value, Beginning balance | $19.91 |
Weighted Average Grant Date Fair Value, Granted | $23.42 |
Weighted Average Grant Date Fair Value, Vested, including shares withheld to cover taxes | $19.57 |
Weighted Average Grant Date Fair Value, Forfeited | $20.57 |
Nonvested Weighted Average Grant Date Fair Value, Ending balance | $21.62 |
Fair Value, Vested, including shares withheld to cover taxes | $6,871,303 |
Fair Value, Nonvested at the ending of period | 29,102,849 |
Fair Value, Expected to vest | $25,208,183 |
StockBased_Compensation_Summar1
Stock-Based Compensation - Summary of Restricted Stock Units (Parenthetical) (Detail) (USD $) | 6 Months Ended |
Jun. 30, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Closing stock price | 30.74 |
Performance Based Restricted Stock Unit [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Total RSUs | 144,521 |
Impairment_Loss_on_Assets_Held1
Impairment Loss on Assets Held for Sale - Additional Information (Detail) (North America [Member], USD $) | 3 Months Ended |
Jun. 30, 2014 | |
North America [Member] | ' |
Impairment Of Long Lived Assets [Line Items] | ' |
Non-cash charges impairment charges | $5,178,000 |
Impairment loss | 4,558,000 |
Accelerated depreciation | $620,000 |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' | ' |
Effective tax rate | 38.60% | 39.60% | 38.80% | 37.00% | ' |
United States federal statutory income tax rate | 35.00% | 35.00% | 35.00% | 35.00% | ' |
Unrecognized tax benefits | $4,826,000 | ' | $4,826,000 | ' | $4,546,000 |
Unrecognized tax benefits, interest on income taxes accrued | $420,000 | ' | $420,000 | ' | $364,000 |
Subsidiaries under audit for tax years | ' | ' | '2006 through 2013 | ' | ' |
Period during which examination phase of tax audits may conclude | ' | ' | 'Next 12 months | ' | ' |
Derivative_Financial_Instrumen2
Derivative Financial Instruments - Summary of Derivative Financial Instruments (Detail) (Not Designated as Hedging Instruments [Member], USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Derivatives, Fair Value [Line Items] | ' | ' |
Asset Derivatives Fair Value | $16 | $91 |
Liability Derivatives Fair Value | 0 | ' |
Foreign Exchange Forward Contracts [Member] | Other Current Assets [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Asset Derivatives Fair Value | 16 | 91 |
Liability Derivatives Fair Value | $0 | ' |
Derivative_Financial_Instrumen3
Derivative Financial Instruments - Summary of Effect of Derivative Financial Instruments on Our Results of Operations (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Derivative Instruments, (Gain) Loss | ' | ' | ' | ' |
Amount of (Gain) Loss Recognized in Earnings on Derivatives | ($117) | $141 | $108 | ($260) |
Foreign Exchange Forward Contracts [Member] | ' | ' | ' | ' |
Derivative Instruments, (Gain) Loss | ' | ' | ' | ' |
Amount of (Gain) Loss Recognized in Earnings on Derivatives | ($117) | $141 | $108 | ($260) |
Fair_Value_Measurements_Summar
Fair Value Measurements - Summary of Valuation of Financial Instruments (Detail) (Foreign Exchange Derivatives [Member], USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value [Line Items] | ' | ' |
Asset Derivatives Fair Value | $16 | $91 |
Level 1 [Member] | ' | ' |
Fair Value [Line Items] | ' | ' |
Asset Derivatives Fair Value | 0 | 0 |
Level 3 [Member] | ' | ' |
Fair Value [Line Items] | ' | ' |
Asset Derivatives Fair Value | 0 | 0 |
Other Current Assets [Member] | Level 2 [Member] | ' | ' |
Fair Value [Line Items] | ' | ' |
Asset Derivatives Fair Value | $16 | $91 |
Share_Repurchase_Program_Addit
Share Repurchase Program - Additional Information (Detail) (USD $) | 6 Months Ended | 6 Months Ended | |
Jun. 30, 2014 | Oct. 30, 2013 | Jun. 30, 2013 | |
Plan One [Member] | Plan One [Member] | Plan Two [Member] | |
Schedule Of Share Repurchase Programs [Line Items] | ' | ' | ' |
Common stock repurchase program, authorized amount | ' | $50,000,000 | ' |
Common stock shares repurchased | 1,272,299 | ' | 2,646,722 |
Repurchased shares of common stock, total cost | 29,652,000 | ' | 50,000,000 |
Repurchase shares of common stock, average cost per share | $23.31 | ' | $18.89 |
Remaining stock repurchase authorization amount | $12,574,000 | ' | ' |
Commitments_and_Contingencies_
Commitments and Contingencies - Additional Information (Detail) (USD $) | 6 Months Ended |
Jun. 30, 2014 | |
Commitments And Contingencies Disclosure [Abstract] | ' |
Outstanding performance bonds to secure performance under certain contracts or state tax requirements | $1,565,000 |
Minimum months of salary paid as severance | '3 months |
Maximum months of salary paid as severance | '24 months |
Segment_Information_Additional
Segment Information - Additional Information (Detail) | 6 Months Ended |
Jun. 30, 2014 | |
Segment | |
Segment Reporting [Abstract] | ' |
Number of operating segments | 3 |
Segment_Information_Net_Sales_
Segment Information - Net Sales by Product or Service Type for North America, EMEA and APAC (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Revenue from External Customer [Line Items] | ' | ' | ' | ' |
Revenues from external customers | $1,417,897 | $1,416,547 | $2,632,427 | $2,598,169 |
North America Segment [Member] | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' |
Revenues from external customers | 889,252 | 923,063 | 1,669,934 | 1,670,067 |
North America Segment [Member] | Hardware Net Sales [Member] | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' |
Revenues from external customers | 527,187 | 531,068 | 1,015,597 | 1,002,134 |
North America Segment [Member] | Software Net Sales [Member] | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' |
Revenues from external customers | 310,838 | 337,033 | 557,009 | 559,404 |
North America Segment [Member] | Services Net Sales [Member] | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' |
Revenues from external customers | 51,227 | 54,962 | 97,328 | 108,529 |
EMEA Segment [Member] | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' |
Revenues from external customers | 446,857 | 421,116 | 834,800 | 808,027 |
EMEA Segment [Member] | Hardware Net Sales [Member] | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' |
Revenues from external customers | 139,423 | 108,826 | 291,277 | 250,502 |
EMEA Segment [Member] | Software Net Sales [Member] | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' |
Revenues from external customers | 297,014 | 302,472 | 525,429 | 538,862 |
EMEA Segment [Member] | Services Net Sales [Member] | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' |
Revenues from external customers | 10,420 | 9,818 | 18,094 | 18,663 |
APAC Segment [Member] | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' |
Revenues from external customers | 81,788 | 72,368 | 127,693 | 120,075 |
APAC Segment [Member] | Hardware Net Sales [Member] | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' |
Revenues from external customers | 4,043 | 1,995 | 5,634 | 2,829 |
APAC Segment [Member] | Software Net Sales [Member] | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' |
Revenues from external customers | 74,915 | 68,482 | 117,734 | 113,672 |
APAC Segment [Member] | Services Net Sales [Member] | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' |
Revenues from external customers | $2,830 | $1,891 | $4,325 | $3,574 |
Segment_Information_Financial_
Segment Information - Financial Information about Reportable Operating Segments (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net sales | $1,417,897 | $1,416,547 | $2,632,427 | $2,598,169 |
Costs of goods sold | 1,223,298 | 1,225,620 | 2,274,083 | 2,249,105 |
Gross profit | 194,599 | 190,927 | 358,344 | 349,064 |
Operating expenses: | ' | ' | ' | ' |
Selling and administrative expenses | 147,810 | 143,158 | 290,239 | 284,146 |
Severance and restructuring expenses | 310 | 3,171 | 647 | 5,903 |
Earnings (loss) from operations | 46,479 | 44,598 | 67,458 | 59,015 |
Total assets at period end | 2,506,196 | 2,464,694 | 2,506,196 | 2,464,694 |
North America Segment [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net sales | 889,252 | 923,063 | 1,669,934 | 1,670,067 |
EMEA Segment [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net sales | 446,857 | 421,116 | 834,800 | 808,027 |
APAC Segment [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net sales | 81,788 | 72,368 | 127,693 | 120,075 |
Operating Segments [Member] | North America Segment [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net sales | 889,252 | 923,063 | 1,669,934 | 1,670,067 |
Costs of goods sold | 764,214 | 798,399 | 1,437,483 | 1,442,876 |
Gross profit | 125,038 | 124,664 | 232,451 | 227,191 |
Operating expenses: | ' | ' | ' | ' |
Selling and administrative expenses | 94,558 | 90,295 | 183,739 | 179,491 |
Severance and restructuring expenses | -14 | 967 | 63 | 2,024 |
Earnings (loss) from operations | 30,494 | 33,402 | 48,649 | 45,676 |
Total assets at period end | 1,687,341 | 1,710,852 | 1,687,341 | 1,710,852 |
Operating Segments [Member] | EMEA Segment [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net sales | 446,857 | 421,116 | 834,800 | 808,027 |
Costs of goods sold | 390,771 | 366,878 | 729,393 | 705,179 |
Gross profit | 56,086 | 54,238 | 105,407 | 102,848 |
Operating expenses: | ' | ' | ' | ' |
Selling and administrative expenses | 46,030 | 46,309 | 93,135 | 92,065 |
Severance and restructuring expenses | 215 | 2,204 | 475 | 3,879 |
Earnings (loss) from operations | 9,841 | 5,725 | 11,797 | 6,904 |
Total assets at period end | 623,873 | 601,624 | 623,873 | 601,624 |
Operating Segments [Member] | APAC Segment [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net sales | 81,788 | 72,368 | 127,693 | 120,075 |
Costs of goods sold | 68,313 | 60,343 | 107,207 | 101,050 |
Gross profit | 13,475 | 12,025 | 20,486 | 19,025 |
Operating expenses: | ' | ' | ' | ' |
Selling and administrative expenses | 7,222 | 6,554 | 13,365 | 12,590 |
Severance and restructuring expenses | 109 | ' | 109 | ' |
Earnings (loss) from operations | 6,144 | 5,471 | 7,012 | 6,435 |
Total assets at period end | $194,982 | $152,218 | $194,982 | $152,218 |
Segment_Information_Financial_1
Segment Information - Financial Information about Reportable Operating Segments (Parenthetical) (Detail) (Consolidation, Eliminations [Member], USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
Consolidation, Eliminations [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Corporate assets and intercompany elimination amount | $529,621,000 | $497,459,000 |
Segment_Information_PreTax_Dep
Segment Information - Pre-Tax Depreciation and Amortization for Operating Segment (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Depreciation and amortization | $10,755 | $10,416 | $20,781 | $20,870 |
North America Segment [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Depreciation and amortization | 8,372 | 8,147 | 16,044 | 16,307 |
EMEA Segment [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Depreciation and amortization | 2,153 | 2,064 | 4,330 | 4,121 |
APAC Segment [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Depreciation and amortization | $230 | $205 | $407 | $442 |