Insight Enterprises (NSIT) 10-Q 6 May 21 2021 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2021	Apr. 30, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Trading Symbol	NSIT
Entity Registrant Name	INSIGHT ENTERPRISES, INC.
Entity Central Index Key	0000932696
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		35,321,102
Entity File Number	0-25092
Entity Tax Identification Number	86-0766246
Entity Address, Address Line One	6820 South Harl Avenue
Entity Address, City or Town	Tempe
Entity Address, State or Province	AZ
Entity Address, Postal Zip Code	85283
City Area Code	480
Local Phone Number	333-3000
Entity Incorporation, State or Country Code	DE
Title of 12(b) Security	Common stock, par value $0.01
Security Exchange Name	NASDAQ
Document Quarterly Report	true
Document Transition Report	false

Consolidated Balance Sheets (un

Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 138,753	$ 128,313
Accounts receivable, net of allowance for doubtful accounts of $15,664 and $15,106, respectively	2,583,716	2,685,448
Inventories	253,297	185,650
Other current assets	177,927	177,039
Total current assets	3,153,693	3,176,450
Property and equipment, net of accumulated depreciation and amortization of $254,747 and $256,065, respectively	148,531	146,016
Goodwill	429,757	429,368
Intangible assets, net of accumulated amortization of $111,245 and $103,483, respectively	239,833	246,915
Other assets	282,793	311,983
Total assets	4,254,607	4,310,732
Current liabilities:
Accounts payable—trade	1,460,172	1,461,312
Accounts payable—inventory financing facilities	309,075	356,930
Accrued expenses and other current liabilities	404,995	408,117
Current portion of long-term debt	830	1,105
Total current liabilities	2,175,072	2,227,464
Long-term debt	416,401	437,581
Deferred income taxes	33,963	33,209
Other liabilities	246,005	270,049
Total liabilities	2,871,441	2,968,303
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.01 par value, 3,000 shares authorized; no shares issued
Common stock, $0.01 par value, 100,000 shares authorized; 35,320 shares at March 31, 2021 and 35,103 shares at December 31, 2020 issued and outstanding	353	351
Additional paid-in capital	361,935	364,288
Retained earnings	1,036,413	993,245
Accumulated other comprehensive loss – foreign currency translation adjustments	(15,535)	(15,455)
Total stockholders’ equity	1,383,166	1,342,429
Total liabilities and stockholders' equity	$ 4,254,607	$ 4,310,732

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Statement Of Financial Position [Abstract]
Allowance for doubtful accounts receivable	$ 15,664	$ 15,106
Accumulated depreciation and amortization of property and equipment	254,747	256,065
Accumulated amortization of intangible assets	$ 111,245	$ 103,483
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	3,000,000	3,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	35,320,000	35,103,000
Common stock, shares outstanding	35,320,000	35,103,000

Consolidated Statements of Oper

Consolidated Statements of Operations (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Net sales:
Total net sales	$ 2,193,068	$ 2,144,051
Costs of goods sold:
Total costs of goods sold	1,861,594	1,818,715
Gross profit	331,474	325,336
Operating expenses:
Selling and administrative expenses	271,190	268,863
Severance and restructuring expenses, net	(6,740)	2,144
Acquisition and integration related expenses		1,466
Earnings from operations	67,024	52,863
Non-operating (income) expense:
Interest expense, net	9,969	11,826
Other expense (income), net	388	(1,563)
Earnings before income taxes	56,667	42,600
Income tax expense	13,499	8,639
Net earnings	$ 43,168	$ 33,961
Net earnings per share:
Basic	$ 1.23	$ 0.96
Diluted	$ 1.18	$ 0.95
Shares used in per share calculations:
Basic	35,199	35,233
Diluted	36,699	35,646
Products [Member]
Net sales:
Total net sales	$ 1,893,020	$ 1,848,316
Costs of goods sold:
Total costs of goods sold	1,721,258	1,670,238
Services [Member]
Net sales:
Total net sales	300,048	295,735
Costs of goods sold:
Total costs of goods sold	$ 140,336	$ 148,477

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement Of Income And Comprehensive Income [Abstract]
Net earnings	$ 43,168	$ 33,961
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	(80)	(17,831)
Total comprehensive income	$ 43,088	$ 16,130

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Loss [Member]	Retained Earnings [Member]
Beginning Balance at Dec. 31, 2019	$ 1,160,318	$ 353		$ 357,032	$ (38,164)	$ 841,097
Beginning Balance, Shares at Dec. 31, 2019		35,263
Issuance of common stock under employee stock plans, net of shares withheld for payroll taxes, Value	(5,288)	$ 2		(5,289)		(1)
Issuance of common stock under employee stock plans, net of shares withheld for payroll taxes, Shares		231
Stock-based compensation expense	4,409			4,409
Repurchase of treasury stock, Amount	(25,000)		$ (25,000)
Repurchase of treasury stock, Shares			(445)
Retirement of treasury stock, Amount		$ (5)	$ 25,000	(4,504)		(20,491)
Retirement of treasury stock, Shares		(445)	445
Foreign currency translation adjustments, net of tax	(17,831)				(17,831)
Net earnings	33,961					33,961
Ending Balance at Mar. 31, 2020	1,150,569	$ 350		351,648	(55,995)	854,566
Ending Balance, Shares at Mar. 31, 2020		35,049
Beginning Balance at Dec. 31, 2020	1,342,429	$ 351		364,288	(15,455)	993,245
Beginning Balance, Shares at Dec. 31, 2020		35,103
Issuance of common stock under employee stock plans, net of shares withheld for payroll taxes, Value	(7,067)	$ 2		(7,069)
Issuance of common stock under employee stock plans, net of shares withheld for payroll taxes, Shares		217
Stock-based compensation expense	4,716			4,716
Foreign currency translation adjustments, net of tax	(80)				(80)
Net earnings	43,168					43,168
Ending Balance at Mar. 31, 2021	$ 1,383,166	$ 353		$ 361,935	$ (15,535)	$ 1,036,413
Ending Balance, Shares at Mar. 31, 2021		35,320

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash flows from operating activities:
Net earnings	$ 43,168	$ 33,961
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	14,222	17,397
Provision for losses on accounts receivable	2,178	3,136
Non-cash stock-based compensation	4,716	4,409
Deferred income taxes	643	(509)
Amortization of debt discount	4,172	3,965
Other adjustments	(7,617)	1,297
Changes in assets and liabilities:
Decrease in accounts receivable	93,485	22,648
Increase in inventories	(67,946)	(48,332)
Decrease in other assets	16,759	57,241
(Decrease) increase in accounts payable	(25,315)	23,277
Decrease in accrued expenses and other liabilities	(35,759)	(25,364)
Net cash provided by operating activities	42,706	93,126
Cash flows from investing activities:
Proceeds from sale of assets held for sale	27,211	14,218
Purchases of property and equipment	(7,847)	(7,382)
Acquisitions, net of cash and cash equivalents acquired		(6,406)
Net cash provided by investing activities	19,364	430
Cash flows from financing activities:
Net repayments under inventory financing facilities	(17,782)	(764)
Repurchases of common stock		(25,000)
Other payments	(7,485)	(5,756)
Net cash used in financing activities	(49,267)	(141,766)
Foreign currency exchange effect on cash, cash equivalents and restricted cash balances	(2,445)	(3,615)
Increase (decrease) in cash, cash equivalents and restricted cash	10,358	(51,825)
Cash, cash equivalents and restricted cash at beginning of period	130,582	116,297
Cash, cash equivalents and restricted cash at end of period	140,940	64,472
ABL Facility [Member]
Cash flows from financing activities:
Borrowings on senior revolving credit facility	897,848	678,197
Repayments on senior revolving credit facility	$ (921,848)	$ (788,443)

Basis of Presentation and Recen

Basis of Presentation and Recently Issued Accounting Standards	3 Months Ended
	Mar. 31, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation and Recently Issued Accounting Standards	1. Basis We empower organizations of all sizes with Insight Intelligent Technology Solutions TM Operating Segment Geography North America United States and Canada EMEA Europe, Middle East and Africa APAC Asia-Pacific Our offerings in North America and certain countries in EMEA and APAC include hardware, software and services, including cloud solutions. Our offerings in the remainder of our EMEA and APAC segments consist of largely software and certain software-related services and cloud solutions. In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments necessary to present fairly our financial position as of March 31, 2021 and our results of operations for the three months ended March 31, 2021 and 2020 and cash flows for the three months ended March 31, 2021 and 2020. The consolidated balance sheet as of December 31, 2020 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 SEC 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, 2020. 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. 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 Standards In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) No. 2019-12, “Simplifying the Accounting for Income Taxes.” The new standard is intended to simplify various aspects of accounting for income taxes by removing specific exceptions and amending certain requirements. We adopted the new standard as of January 1, 2021. The adoption of this new standard did not have a material effect on our consolidated financial statements. In August 2020, the FASB issued ASU No. 2020-06, “Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity”. The new guidance is intended to simplify the accounting for certain convertible instruments with characteristics of both liability and equity. The guidance removes certain accounting models which separate the embedded conversion features from the host contract for convertible instruments. As a result, after the adoption of this guidance, an entity’s convertible debt instrument will be wholly accounted for as debt. The guidance also expands disclosure requirements for convertible instruments and simplifies areas of the guidance for diluted earnings-per-share calculations by requiring the use of the if-converted method. The guidance will be effective for fiscal years beginning after December 15, 2021, with early adoption permitted for fiscal years beginning after December 15, 2020 and can be adopted on either a fully retrospective or modified retrospective basis. The Company is currently evaluating the impact the adoption of this standard will have on its consolidated financial statements; however, we expect our consolidated statements of operations and consolidated balance sheets will be significantly impacted following adoption of this new standard as we will no longer report accreted interest on the Notes and the full par value of the Notes will be reflected as debt. There have been no other material changes in or additions to the recently issued accounting standards 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, 2020 that affect or may affect our current financial statements.

Sales Recognition

Sales Recognition	3 Months Ended
	Mar. 31, 2021
Revenue From Contract With Customer [Abstract]
Sales Recognition	2 . Sales Recognition The following table provides information about receivables and contract liabilities as of March 31, 2021 and December 31, 2020 (in thousands): March 31, December 31, 2021 2020 Current receivables, which are included in “Accounts receivable, net” $ 2,583,716 $ 2,685,448 Non-current receivables, which are included in “Other assets” 124,670 154,662 Contract liabilities, which are included in “Accrued expenses and other current liabilities” and “Other liabilities” 103,468 107,158 C hanges in the contract liabilities balances during the three months ended March 31, 2021 are as follows (in thousands): Increase (Decrease) Contract Liabilities Balances at December 31, 2020 $ 107,158 Reclassification of the beginning contract liabilities to revenue, as the result of performance obligations satisfied (34,418 ) Cash received in advance and not recognized as revenue 30,728 Balances at March 31, 2021 $ 103,468 During the three months ended March 31, 2020, the Company recognized revenue of $19,000,000 related to its contract liabilities. The following table includes estimated net sales related to performance obligations that are unsatisfied (or partially unsatisfied) as of March 31, 2021 that are expected to be recognized in the future (in thousands): Services Remainder of 2021 $ 100,218 2022 39,638 2023 17,094 2024 and thereafter 9,434 Total remaining performance obligations $ 166,384 With the exception of remaining performance obligations associated with our OneCall Support Services contracts which are included in the table above regardless of original duration, r emaining performance obligations that have original expected durations of one year or less are not included in the table above. Amounts not included in the table above have an average original expected duration of eight months. The majority of our backlog historically has been and continues to be open cancelable purchase orders. We do not believe that backlog as of any particular date is predictive of future results, therefore we do not include performance obligations under open cancelable purchase orders, which do not qualify for revenue recognition, in the table above.

Assets Held for Sale

Assets Held for Sale	3 Months Ended
	Mar. 31, 2021
Property Plant And Equipment Assets Held For Sale Disclosure [Abstract]
Assets Held For Sale	3. Assets Held for Sale During the first quarter of 2021, we completed the sale of our three properties in Tempe, Arizona and the sale of our property in Woodbridge, Illinois for total net proceeds of approximately $27,211,000. We intend to use the proceeds from the sales to ready our property in Chandler, Arizona to be used as our global corporate headquarters. During the first quarter of 2020, we completed the sale of our property in Irvine, California for approximately $14,218,000

Net Earnings Per Share ("EPS")

Net Earnings Per Share ("EPS")	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Net Earnings Per Share ("EPS")	4 . 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 (“RSUs”) and certain shares underlying the Notes. A reconciliation of the denominators of the basic and diluted EPS calculations follows (in thousands, except per share data): Three Months Ended March 31, 2021 2020 Numerator: Net earnings $ 43,168 $ 33,961 Denominator: Weighted average shares used to compute basic EPS 35,199 35,233 Dilutive potential common shares due to dilutive RSUs, net of tax effect 461 413 Dilutive potential common shares due to the Notes 1,039 — Weighted average shares used to compute diluted EPS 36,699 35,646 Net earnings per share: Basic $ 1.23 $ 0.96 Diluted $ 1.18 $ 0.95 For the three months ended March 31, 2021, none of our RSUs were excluded from the diluted EPS calculations. Certain potential outstanding shares from the warrants relating to the Call Spread Transactions were excluded from the diluted EPS calculations because their inclusion would have been anti-dilutive. For the three months ended March 31, 2020, 86,000 of our RSUs and certain potential outstanding shares from the Notes and warrants were excluded from the diluted EPS calculations because their inclusion would have been anti-dilutive.

Debt, Inventory Financing Facil

Debt, Inventory Financing Facility, Finance Leases and Other Financing Obligations	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Debt, Inventory Financing Facilities, Finance Leases and Other Financing Obligations	5 . Debt, Inventory Financing Facilities, Finance Leases and Other Financing Obligations Debt Our long-term debt consists of the following (in thousands): March 31, 2021 December 31, 2020 ABL revolving credit facility $ 116,000 $ 140,000 Convertible senior notes due 2025 299,402 296,419 Finance leases and other financing obligations 1,829 2,267 Total 417,231 438,686 Less: current portion of long-term debt (830 ) (1,105 ) Long-term debt $ 416,401 $ 437,581 Our senior secured revolving credit facility (the “ABL facility”), has an aggregate U.S. dollar equivalent maximum borrowing amount of $1,200,000,000, including a maximum borrowing capacity that could be used for borrowing in certain foreign currencies of $150,000,000. From time to time and at our option, we may request to increase the aggregate amount available for borrowing under the ABL facility by up to an aggregate of the U.S. dollar equivalent of $500,000,000, subject to customary conditions, including receipt of commitments from lenders. The ABL facility is guaranteed by certain of our material subsidiaries and is secured by a lien on certain of our assets and certain of each other borrower’s and each guarantor’s assets. The interest rates applicable to borrowings under the ABL facility are based on the average aggregate excess availability under the ABL facility as set forth on a pricing grid in the credit agreement. The ABL facility matures on August 30, 2024. As of March 31, 2021, eligible accounts receivable and inventory were sufficient to permit access to the full $1,200,000,000 facility amount, of which $116,000,000 was outstanding. The ABL facility contains customary affirmative and negative covenants and events of default. If a default occurs (subject to customary grace periods and materiality thresholds) under the credit agreement, certain actions may be taken, including, but not limited to, possible termination of commitments and required payment of all outstanding principal amounts plus accrued interest and fees payable under the credit agreement. Convertible Senior Notes due 2025 In August 2019, we issued $350,000,000 aggregate principal amount of Notes that mature on February 15, 2025. The Notes bear interest at an annual rate of 0.75% payable semiannually, in arrears, on February 15 th th Holders of the Notes may convert their notes at their option at any time prior to the close of business on the business day immediately preceding June 15, 2024, under the following circumstances: (1) during any calendar quarter commencing after the calendar quarter ending on December 31, 2019 (and only during such calendar quarter), if the last reported sale price of our common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day; (2) during the five business day period after any five consecutive trading day period (the “measurement period”) in which the trading price per $1,000 principal amount of Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of our common stock and the conversion rate on each such trading day; (3) if we call any or all of the N otes for redemption, at any time prior to the close of business on the second scheduled trading day immediately preceding the redemption date; or (4) upon the occurrence of specified corporate events. On or after June 15, 2024 until the close of business on the second scheduled trading day immediately preceding the maturity date, the holders may convert their notes at any time, regardless of the foregoing circumstances. Upon conversion, we will pay or deliver cash, shares of our common stock or a combination of the two, at our discretion. We have made a policy election to settle the par value of the Notes in cash with only the conversion spread being settled in shares of our common stock. The conversion rate will initially be 14.6376 shares of common stock per $1,000 principal amount of the Notes (equivalent to an initial conversion price of approximately $68.32 per share of common stock). The conversion rate is subject to change in certain circumstances and will not be adjusted for any accrued and unpaid interest. In addition, following certain events that occur prior to the maturity date or following our issuance of a notice of redemption, the conversion rate is subject to an increase for a holder who elects to convert their Notes in connection with those events or during the related redemption period in certain circumstances. If we undergo a fundamental change, the holders may require us to repurchase for cash all or any portion of their notes at a fundamental change repurchase price equal to 100% of the principal amount of the Notes to be repurchased, plus accrued and unpaid interest to, but excluding, the fundamental change repurchase date. As of March 31, 2021, none of The maximum number of shares issuable upon conversion, including the effect of a fundamental change and subject to other conversion rate adjustments, would be 6,788,208. The Notes are subject to certain customary events of default and acceleration clauses. As of March 31, 2021, no such events have occurred. The Notes consist of the following balances reported within the consolidated balance sheets (in thousands): March 31, 2021 December 31, 2020 Liability: Principal $ 350,000 $ 350,000 Less: debt discount and issuance costs, net of accumulated accretion (50,598 ) (53,581 ) Net carrying amount $ 299,402 $ 296,419 Equity, net of deferred tax $ 44,731 $ 44,731 The remaining life of the debt discount and issuance cost accretion is approximately 3.875 years Interest expense resulting from the Notes reported within the consolidated statement of operations for the three months ended March 31, 2021 and 2020 is made up of contractual coupon interest, amortization of debt discount and amortization of debt issuance costs. Convertible Note Hedge and Warrant Transaction In connection with the issuance of the Notes, we entered into the Call Spread Transactions with respect to the Company’s common stock. The convertible note hedge consists of an option to purchase up to 5,123,160 common stock shares at a price of $68.32 per share. The hedge expires on February 15, 2025 and can only be concurrently executed upon the conversion of the Notes. We paid approximately $66,325,000 for the convertible note hedge transaction. Additionally, we sold warrants to purchase 5,123,160 shares of common stock at a price of $103.12 per share. The warrants expire on May 15, 2025 and can only be exercised at maturity. The Company received aggregate proceeds of approximately $34,440,000 for the sale of the warrants. The Call Spread Transactions have no effect on the terms of the Notes and reduce potential dilution by effectively increasing the initial conversion price of the Notes to $103.12 per share of the Company’s common stock. Inventory Financing Facilities On March 31, 2021, we entered into an unsecured inventory financing facility in EMEA (the “EMEA facility”) with a maximum borrowing capacity of $40,000,000. This facility will stay in effect until it is terminated by any of the parties. If balances are not paid within stated vendor terms, they will accrue interest at 0.25%, subject to adjustments upward depending on LIBOR movements, plus late charges of 1.00% per month. Amounts outstanding under this facility will be classified as accounts payable – inventory financing facility in the accompanying balance sheets. Additionally, we have a $250,000,000 unsecured inventory financing facility with each of MUFG Bank Ltd (“MUFG”) and PNC Bank, N.A. (“PNC”).

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	6 . Income Taxes Our effective tax rate for the three months ended March 31, 2021 was 23.8%. Our effective tax rate was higher than the United States federal statutory rate of 21.0% due primarily to state income taxes, net of federal benefit, and higher taxes on earnings in foreign jurisdictions, partially offset by excess tax benefits on the settlement of employee share-based compensation and tax benefits related to research and development activities. Our effective tax rate for the three months ended March 31, 2020 was 20.3%. Our effective tax rate was lower than the United States federal statutory rate of 21.0% due primarily to the remeasurement of acquired net operating losses to be carried back to higher tax rate years under the CARES Act, excess tax benefits on the settlement of share-based compensation and tax benefits related to research and development activities. These benefits were partially offset by state income taxes, net of federal benefit and higher taxes on earnings in foreign jurisdictions. As of March 31, 2021, and December 31, 2020, we had approximately $10,890,000 and $10,546,000, respectively, of unrecognized tax benefits. Of these amounts, approximately $817,000 and $749,000, respectively, related to accrued interest. In the future, if recognized, the liability associated with uncertain tax positions would affect our effective tax rate. We do not believe there will be any changes to our unrecognized tax benefits over the next 12 months that would have a material effect on our effective tax rate. We are currently under audit in various jurisdictions for tax years 2013 through 2018. Although the timing of the resolutions and/or closures of audits is highly uncertain, it is reasonably possible that the examination phase of these audits may be concluded within the next 12 months, which could increase or decrease the balance of our gross unrecognized tax benefits. 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, but the estimated effect on our income tax expense and net earnings is not expected to be significant.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2021
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	7 . 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. These bonds are issued on our behalf by a surety company on an unsecured basis; however, if the surety company is ever required to pay out under the bonds, we have contractually agreed to reimburse the surety company. Management believes that payments, if any, related to these performance bonds are not probable at March 31, 2021. Accordingly, we have not accrued any liabilities related to such performance bonds in our consolidated financial statements. Employment Contracts and Severance Plans We have employment contracts with, and severance 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 outstanding nonvested RSUs 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 March 31, 2021. 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 partner 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 From time to time, we are party to various legal proceedings incidental to the 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, employment claims, claims of alleged non-compliance with contract provisions and claims related to alleged violations of laws and regulations. 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 required. If accruals are not required, we further evaluate each legal proceeding to assess whether an estimate of possible loss or range of possible loss can be made. 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 work required pursuant to any legal proceedings or the resolution of any legal proceedings during such period. Legal expenses related to defense of any legal proceeding or the negotiations, settlements, rulings and advice of outside legal counsel in connection with any legal proceedings are expensed as incurred. In connection with the acquisition of PCM, the Company has effectively assumed responsibility for PCM litigation matters, including various disputes related to PCM’s acquisition of certain assets of En Pointe Technologies in 2015. The seller of En Pointe Technologies and related entities providing various post-closing support functions to PCM have asserted claims regarding the sufficiency of earnout payments paid by PCM under the asset purchase agreement and the unwinding of the support functions post-closing. PCM has rejected and vigorously responded to those claims and is pursuing various counterclaims. The disputes are being heard by multiple courts and arbitrators in several different jurisdictions including California, Delaware and Pakistan. The Company cannot determine with certainty the costs or outcome of these matters. However, the Company is not involved in any pending or threatened legal proceedings, including the PCM litigation matters, that it believes would reasonably be expected to have a material adverse effect on its business, financial condition or results of operations.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Segment Information	8. Segment Information We operate in three reportable geographic operating segments: North America; EMEA; and APAC. Our offerings in North America and certain countries in EMEA and APAC include IT hardware, software and services. Our offerings in the remainder of our EMEA and APAC segments are largely software and certain software-related services. In the following table, revenue is disaggregated by our reportable operating segments, which are primarily defined by their related geographies, as well as by major product offering, by major client group and by recognition on either a gross basis as a principal in the arrangement, or on a net basis as an agent, for the three months ended March 31, 2021 and 2020 (in thousands): Three Months Ended March 31, 2021 North America EMEA APAC Consolidated Major Offerings Hardware $ 1,109,489 $ 195,971 $ 9,565 $ 1,315,025 Software 308,738 234,423 34,834 577,995 Services 236,554 48,442 15,052 300,048 $ 1,654,781 $ 478,836 $ 59,451 $ 2,193,068 Major Client Groups Large Enterprise / Corporate $ 1,171,428 $ 309,075 $ 19,076 $ 1,499,579 Commercial 344,045 20,533 12,667 377,245 Public Sector 139,308 149,228 27,708 316,244 $ 1,654,781 $ 478,836 $ 59,451 $ 2,193,068 Revenue Recognition based on acting as Principal or Agent in the Transaction Gross revenue recognition (Principal) $ 1,569,641 $ 450,977 $ 52,863 $ 2,073,481 Net revenue recognition (Agent) 85,140 27,859 6,588 119,587 $ 1,654,781 $ 478,836 $ 59,451 $ 2,193,068 Three Months Ended March 31, 2020 North America EMEA APAC Consolidated Major Offerings Hardware $ 1,128,486 $ 174,969 $ 7,746 $ 1,311,201 Software 305,163 201,082 30,870 537,115 Services 240,732 42,835 12,168 295,735 $ 1,674,381 $ 418,886 $ 50,784 $ 2,144,051 Major Client Groups Large Enterprise / Corporate $ 1,160,748 $ 292,288 $ 13,025 $ 1,466,061 Commercial 386,076 17,742 13,654 417,472 Public Sector 127,557 108,856 24,105 260,518 $ 1,674,381 $ 418,886 $ 50,784 $ 2,144,051 Revenue Recognition based on acting as Principal or Agent in the Transaction Gross revenue recognition (Principal) $ 1,600,514 $ 392,259 $ 45,754 $ 2,038,527 Net revenue recognition (Agent) 73,867 26,627 5,030 105,524 $ 1,674,381 $ 418,886 $ 50,784 $ 2,144,051 All significant intercompany transactions are eliminated upon consolidation, and there are no differences between the accounting policies used to measure profit and loss for our segments or on a consolidated basis. Net sales are defined as net sales to external clients. None of our clients exceeded ten percent of consolidated net sales for the three months ended March 31, 2021 or 2020. 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 consider to be a reasonable reflection of the utilization of services provided to or benefits received by the operating segments. The following tables present our results of operations by reportable operating segment for the periods indicated (in thousands): Three Months Ended March 31, 2021 North America EMEA APAC Consolidated Net sales: Products $ 1,418,227 $ 430,394 $ 44,399 $ 1,893,020 Services 236,554 48,442 15,052 300,048 Total net sales 1,654,781 478,836 59,451 2,193,068 Costs of goods sold: Products 1,283,876 396,184 41,198 1,721,258 Services 117,416 16,617 6,303 140,336 Total costs of goods sold 1,401,292 412,801 47,501 1,861,594 Gross profit 253,489 66,035 11,950 331,474 Operating expenses: Selling and administrative expenses 206,806 55,447 8,937 271,190 Severance and restructuring expenses (7,238 ) 498 — (6,740 ) Earnings from operations $ 53,921 $ 10,090 $ 3,013 $ 67,024 Three Months Ended March 31, 2020 North America EMEA APAC Consolidated Net sales: Products $ 1,433,649 $ 376,051 $ 38,616 $ 1,848,316 Services 240,732 42,835 12,168 295,735 Total net sales 1,674,381 418,886 50,784 2,144,051 Costs of goods sold: Products 1,288,197 345,749 36,292 1,670,238 Services 129,256 14,363 4,858 148,477 Total costs of goods sold 1,417,453 360,112 41,150 1,818,715 Gross profit 256,928 58,774 9,634 325,336 Operating expenses: Selling and administrative expenses 211,203 50,244 7,416 268,863 Severance and restructuring expenses 2,122 6 16 2,144 Acquisition and integration related expenses 1,262 204 — 1,466 Earnings from operations $ 42,341 $ 8,320 $ 2,202 $ 52,863 The following is a summary of our total assets by reportable operating segment (in thousands): March 31, 2021 December 31, 2020 North America $ 4,662,002 $ 4,837,155 EMEA 796,315 735,771 APAC 206,986 155,761 Corporate assets and intercompany eliminations, net (1,410,696 ) (1,417,955 ) Total assets $ 4,254,607 $ 4,310,732 We recorded the following pre-tax amounts, by reportable operating segment, for depreciation and amortization in the accompanying consolidated financial statements (in thousands): Three Months Ended March 31, 2021 2020 Depreciation and amortization of property and equipment: North America $ 4,807 $ 5,826 EMEA 1,232 1,328 APAC 142 135 6,181 7,289 Amortization of intangible assets: North America 7,417 9,493 EMEA 496 506 APAC 128 109 8,041 10,108 Total $ 14,222 $ 17,397

Basis of Presentation and Rec_2

Basis of Presentation and Recently Issued Accounting Standards (Policies)	3 Months Ended
	Mar. 31, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Recently Issued Accounting Standards	Recently Issued Accounting Standards In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) No. 2019-12, “Simplifying the Accounting for Income Taxes.” The new standard is intended to simplify various aspects of accounting for income taxes by removing specific exceptions and amending certain requirements. We adopted the new standard as of January 1, 2021. The adoption of this new standard did not have a material effect on our consolidated financial statements. In August 2020, the FASB issued ASU No. 2020-06, “Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity”. The new guidance is intended to simplify the accounting for certain convertible instruments with characteristics of both liability and equity. The guidance removes certain accounting models which separate the embedded conversion features from the host contract for convertible instruments. As a result, after the adoption of this guidance, an entity’s convertible debt instrument will be wholly accounted for as debt. The guidance also expands disclosure requirements for convertible instruments and simplifies areas of the guidance for diluted earnings-per-share calculations by requiring the use of the if-converted method. The guidance will be effective for fiscal years beginning after December 15, 2021, with early adoption permitted for fiscal years beginning after December 15, 2020 and can be adopted on either a fully retrospective or modified retrospective basis. The Company is currently evaluating the impact the adoption of this standard will have on its consolidated financial statements; however, we expect our consolidated statements of operations and consolidated balance sheets will be significantly impacted following adoption of this new standard as we will no longer report accreted interest on the Notes and the full par value of the Notes will be reflected as debt. There have been no other material changes in or additions to the recently issued accounting standards 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, 2020 that affect or may affect our current financial statements.

Sales Recognition (Tables)

Sales Recognition (Tables)	3 Months Ended
	Mar. 31, 2021
Revenue From Contract With Customer [Abstract]
Summary of Information about Receivables and Contract Liabilities	The following table provides information about receivables and contract liabilities as of March 31, 2021 and December 31, 2020 (in thousands): March 31, December 31, 2021 2020 Current receivables, which are included in “Accounts receivable, net” $ 2,583,716 $ 2,685,448 Non-current receivables, which are included in “Other assets” 124,670 154,662 Contract liabilities, which are included in “Accrued expenses and other current liabilities” and “Other liabilities” 103,468 107,158
Summary of Changes in Contract Liabilities from Contract with Customers	C hanges in the contract liabilities balances during the three months ended March 31, 2021 are as follows (in thousands): Increase (Decrease) Contract Liabilities Balances at December 31, 2020 $ 107,158 Reclassification of the beginning contract liabilities to revenue, as the result of performance obligations satisfied (34,418 ) Cash received in advance and not recognized as revenue 30,728 Balances at March 31, 2021 $ 103,468
Summary of Estimated Net Sales Related to Performance Obligation	The following table includes estimated net sales related to performance obligations that are unsatisfied (or partially unsatisfied) as of March 31, 2021 that are expected to be recognized in the future (in thousands): Services Remainder of 2021 $ 100,218 2022 39,638 2023 17,094 2024 and thereafter 9,434 Total remaining performance obligations $ 166,384

Net Earnings Per Share ("EPS")

Net Earnings Per Share ("EPS") (Tables)	3 Months Ended
	Mar. 31, 2021
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 March 31, 2021 2020 Numerator: Net earnings $ 43,168 $ 33,961 Denominator: Weighted average shares used to compute basic EPS 35,199 35,233 Dilutive potential common shares due to dilutive RSUs, net of tax effect 461 413 Dilutive potential common shares due to the Notes 1,039 — Weighted average shares used to compute diluted EPS 36,699 35,646 Net earnings per share: Basic $ 1.23 $ 0.96 Diluted $ 1.18 $ 0.95

Debt, Inventory Financing Fac_2

Debt, Inventory Financing Facilities, Finance Leases and Other Financing Obligations (Tables)	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Long-Term Debt	Our long-term debt consists of the following (in thousands): March 31, 2021 December 31, 2020 ABL revolving credit facility $ 116,000 $ 140,000 Convertible senior notes due 2025 299,402 296,419 Finance leases and other financing obligations 1,829 2,267 Total 417,231 438,686 Less: current portion of long-term debt (830 ) (1,105 ) Long-term debt $ 416,401 $ 437,581
Schedule of Convertible Senior Notes Balances	The Notes consist of the following balances reported within the consolidated balance sheets (in thousands): March 31, 2021 December 31, 2020 Liability: Principal $ 350,000 $ 350,000 Less: debt discount and issuance costs, net of accumulated accretion (50,598 ) (53,581 ) Net carrying amount $ 299,402 $ 296,419 Equity, net of deferred tax $ 44,731 $ 44,731

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Summary of Revenue Disaggregated by Reportable Operating Segments	In the following table, revenue is disaggregated by our reportable operating segments, which are primarily defined by their related geographies, as well as by major product offering, by major client group and by recognition on either a gross basis as a principal in the arrangement, or on a net basis as an agent, for the three months ended March 31, 2021 and 2020 (in thousands): Three Months Ended March 31, 2021 North America EMEA APAC Consolidated Major Offerings Hardware $ 1,109,489 $ 195,971 $ 9,565 $ 1,315,025 Software 308,738 234,423 34,834 577,995 Services 236,554 48,442 15,052 300,048 $ 1,654,781 $ 478,836 $ 59,451 $ 2,193,068 Major Client Groups Large Enterprise / Corporate $ 1,171,428 $ 309,075 $ 19,076 $ 1,499,579 Commercial 344,045 20,533 12,667 377,245 Public Sector 139,308 149,228 27,708 316,244 $ 1,654,781 $ 478,836 $ 59,451 $ 2,193,068 Revenue Recognition based on acting as Principal or Agent in the Transaction Gross revenue recognition (Principal) $ 1,569,641 $ 450,977 $ 52,863 $ 2,073,481 Net revenue recognition (Agent) 85,140 27,859 6,588 119,587 $ 1,654,781 $ 478,836 $ 59,451 $ 2,193,068 Three Months Ended March 31, 2020 North America EMEA APAC Consolidated Major Offerings Hardware $ 1,128,486 $ 174,969 $ 7,746 $ 1,311,201 Software 305,163 201,082 30,870 537,115 Services 240,732 42,835 12,168 295,735 $ 1,674,381 $ 418,886 $ 50,784 $ 2,144,051 Major Client Groups Large Enterprise / Corporate $ 1,160,748 $ 292,288 $ 13,025 $ 1,466,061 Commercial 386,076 17,742 13,654 417,472 Public Sector 127,557 108,856 24,105 260,518 $ 1,674,381 $ 418,886 $ 50,784 $ 2,144,051 Revenue Recognition based on acting as Principal or Agent in the Transaction Gross revenue recognition (Principal) $ 1,600,514 $ 392,259 $ 45,754 $ 2,038,527 Net revenue recognition (Agent) 73,867 26,627 5,030 105,524 $ 1,674,381 $ 418,886 $ 50,784 $ 2,144,051
Financial Information about Reportable Operating Segments	The following tables present our results of operations by reportable operating segment for the periods indicated (in thousands): Three Months Ended March 31, 2021 North America EMEA APAC Consolidated Net sales: Products $ 1,418,227 $ 430,394 $ 44,399 $ 1,893,020 Services 236,554 48,442 15,052 300,048 Total net sales 1,654,781 478,836 59,451 2,193,068 Costs of goods sold: Products 1,283,876 396,184 41,198 1,721,258 Services 117,416 16,617 6,303 140,336 Total costs of goods sold 1,401,292 412,801 47,501 1,861,594 Gross profit 253,489 66,035 11,950 331,474 Operating expenses: Selling and administrative expenses 206,806 55,447 8,937 271,190 Severance and restructuring expenses (7,238 ) 498 — (6,740 ) Earnings from operations $ 53,921 $ 10,090 $ 3,013 $ 67,024 Three Months Ended March 31, 2020 North America EMEA APAC Consolidated Net sales: Products $ 1,433,649 $ 376,051 $ 38,616 $ 1,848,316 Services 240,732 42,835 12,168 295,735 Total net sales 1,674,381 418,886 50,784 2,144,051 Costs of goods sold: Products 1,288,197 345,749 36,292 1,670,238 Services 129,256 14,363 4,858 148,477 Total costs of goods sold 1,417,453 360,112 41,150 1,818,715 Gross profit 256,928 58,774 9,634 325,336 Operating expenses: Selling and administrative expenses 211,203 50,244 7,416 268,863 Severance and restructuring expenses 2,122 6 16 2,144 Acquisition and integration related expenses 1,262 204 — 1,466 Earnings from operations $ 42,341 $ 8,320 $ 2,202 $ 52,863
Summary of Total Assets by Reportable Operating Segment	The following is a summary of our total assets by reportable operating segment (in thousands): March 31, 2021 December 31, 2020 North America $ 4,662,002 $ 4,837,155 EMEA 796,315 735,771 APAC 206,986 155,761 Corporate assets and intercompany eliminations, net (1,410,696 ) (1,417,955 ) Total assets $ 4,254,607 $ 4,310,732
Pre-Tax Depreciation and Amortization by Operating Segment	We recorded the following pre-tax amounts, by reportable operating segment, for depreciation and amortization in the accompanying consolidated financial statements (in thousands): Three Months Ended March 31, 2021 2020 Depreciation and amortization of property and equipment: North America $ 4,807 $ 5,826 EMEA 1,232 1,328 APAC 142 135 6,181 7,289 Amortization of intangible assets: North America 7,417 9,493 EMEA 496 506 APAC 128 109 8,041 10,108 Total $ 14,222 $ 17,397

Basis of Presentation and Rec_3

Basis of Presentation and Recently Issued Accounting Standards - Additional Information (Detail) - Segment	3 Months Ended		9 Months Ended
	Mar. 31, 2021	Sep. 30, 2020	Sep. 30, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Number of operating segments	3	3	3

Sales Recognition - Summary of

Sales Recognition - Summary of Information about Receivables and Contract Liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020
Disaggregation of Revenue [Line Items]
Current receivables, which are included in “Accounts receivable, net”	$ 2,583,716	$ 2,685,448
Contract liabilities, which are included in “Accrued expenses and other current liabilities” and “Other liabilities”	103,468	$ 107,158
Accounts Receivable, Net [Member]
Disaggregation of Revenue [Line Items]
Current receivables, which are included in “Accounts receivable, net”	2,583,716		$ 2,685,448
Other Assets [Member]
Disaggregation of Revenue [Line Items]
Non-current receivables, which are included in “Other assets”	124,670		154,662
Accrued Expenses and Other Current Liabilities and Other Liabilities [Member]
Disaggregation of Revenue [Line Items]
Contract liabilities, which are included in “Accrued expenses and other current liabilities” and “Other liabilities”	$ 103,468		$ 107,158

Sales Recognition - Summary o_2

Sales Recognition - Summary of Changes in Contract Liabilities from Contract with Customers (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)
Revenue From Contract With Customer [Abstract]
Beginning balance, Contract Liabilities	$ 107,158
Reclassification of the beginning contract liabilities to revenue, as the result of performance obligations satisfied, Contract Liabilities	(34,418)
Cash received in advance and not recognized as revenue, Contract Liabilities	30,728
Ending balance, Contract Liabilities	$ 103,468

Sales Recognition - Additional

Sales Recognition - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2021USD ($)
New Accounting Pronouncements And Changes In Accounting Principles [Abstract]
Contract with customer, liability, revenue recognized	$ 19,000,000
Description of expected duration	With the exception of remaining performance obligations associated with our OneCall Support Services contracts which are included in the table above regardless of original duration, remaining performance obligations that have original expected durations of one year or less are not included in the table above.  Amounts not included in the table above have an average original expected duration of eight months.
Time and material contracts expected duration	23 months

Sales Recognition - Summary o_3

Sales Recognition - Summary of Estimated Net Sales Related to Performance Obligation (Detail) - Services [Member] $ in Thousands	Mar. 31, 2021USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total remaining performance obligations	$ 166,384
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total remaining performance obligations	$ 100,218
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total remaining performance obligations	$ 39,638
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total remaining performance obligations	$ 17,094
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total remaining performance obligations	$ 9,434
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year

Sales Recognition - Summary o_4

Sales Recognition - Summary of Estimated Net Sales Related to Performance Obligation (Detail 1) $ in Thousands	Mar. 31, 2021USD ($)
Services [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total remaining performance obligations	$ 166,384

Assets Held for Sale - Addition

Assets Held for Sale - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2021USD ($)Property	Mar. 31, 2020USD ($)
Long Lived Assets Held For Sale [Line Items]
Number of Properties | Property	3
Proceeds from sale of property	$ 27,211,000	$ 14,218,000
Irvine, California Property [Member]
Long Lived Assets Held For Sale [Line Items]
Proceeds from sale of property		$ 14,218,000
Other Current Assets [Member]
Long Lived Assets Held For Sale [Line Items]
Proceeds from sale of property	$ 27,211,000

Net Earnings Per Share ("EPS"_2

Net Earnings Per Share ("EPS") - Reconciliation of Denominators of Basic and Diluted EPS Calculations (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Numerator:
Net earnings	$ 43,168	$ 33,961
Denominator:
Weighted average shares used to compute basic EPS	35,199	35,233
Dilutive potential common shares due to dilutive RSUs, net of tax effect	461	413
Weighted average shares used to compute diluted EPS	36,699	35,646
Net earnings per share:
Basic	$ 1.23	$ 0.96
Diluted	$ 1.18	$ 0.95
Notes [Member]
Denominator:
Dilutive potential common shares due to the Notes	1,039

Net Earnings Per Share ("EPS"_3

Net Earnings Per Share ("EPS") - Additional Information (Detail) - shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
RSUs excluded from the diluted EPS calculations	0	86,000

Debt, Inventory Financing Fac_3

Debt, Inventory Financing Facilities, Finance Leases and Other Financing Obligations - Long-Term Debt (Detail) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Long-term debt
Finance leases and other financing obligations	$ 1,829,000	$ 2,267,000
Total	417,231,000	438,686,000
Less: current portion of long-term debt	(830,000)	(1,105,000)
Long-term debt	416,401,000	437,581,000
ABL Facility [Member]
Long-term debt
Revolving credit facility	116,000,000	140,000,000
Convertible Senior Notes due 2025 [Member]
Long-term debt
Convertible senior notes due 2025	$ 299,402,000	$ 296,419,000

Debt, Inventory Financing Fac_4

Debt, Inventory Financing Facilities, Finance Leases and Other Financing Obligations - Additional Information (Detail)	1 Months Ended	3 Months Ended
	Aug. 31, 2019USD ($)	Mar. 31, 2021USD ($)sharesd$ / shares	Dec. 31, 2020USD ($)
Debt Instrument [Line Items]
Accounts payable-inventory financing facility		$ 309,075,000	$ 356,930,000
EMEA Facilities [Member]
Debt Instrument [Line Items]
Inventory financing facility maximum borrowing capacity		$ 40,000,000
Inventory financing facility rate if vendor terms not met equal LIBOR plus		0.25%
Inventory financing facility late charges percentage		1.00%
Convertible Senior Notes due 2025 [Member]
Debt Instrument [Line Items]
Aggregate principal amount of notes, issued amount	$ 350,000,000	$ 350,000,000	350,000,000
Notes, maturity date	Feb. 15, 2025
Notes, interest rate	0.75%
Notes, payable term		payable semiannually, in arrears, on February 15th and August 15th of each year.
Principal amount per note used in conversion rate		$ 1,000
Debt Conversion, initial conversion rate | shares		14.6376
Conversion price per share | $ / shares		$ 68.32
Repurchase price as percentage of principal amount		100.00%
Shares issuable upon conversion of debt | shares		6,788,208
Notes, remaining accretion period of debt discount and issuance cost		3 years 10 months 15 days
Notes, effective interest rate		4.325%
Conversion price per share | $ / shares		$ 68.32
Convertible note hedge expiration date		Feb. 15, 2025
Payments to convertible note hedge transaction		$ 66,325,000
Warrants sold to purchase of additional common stock | shares		5,123,160
Warrant price per share to purchase additional common stock | $ / shares		$ 103.12
Warrants expiration date		May 15, 2025
Proceeds from sale of warrants		$ 34,440,000
Convertible Senior Notes due 2025 [Member] | Scenario One [Member]
Debt Instrument [Line Items]
Number of trading days | d		20
Number of consecutive trading days | d		30
Percentage of last reported sale price to conversion price on each applicable trading day		130.00%
Convertible Senior Notes due 2025 [Member] | Scenario Two [Member]
Debt Instrument [Line Items]
Number of consecutive trading days | d		5
Percentage of last reported sale price to conversion price on each applicable trading day		98.00%
Measurement period		5 days
Convertible Senior Notes due 2025 [Member] | Maximum [Member]
Debt Instrument [Line Items]
Option to purchase common stock, shares | shares		5,123,160
ABL Facility [Member]
Debt Instrument [Line Items]
Credit facility, borrowing capacity		$ 1,200,000,000
Line of credit maturity date		Aug. 30, 2024
Amount of facility permitted by qualified receivables		$ 1,200,000,000
Line of credit outstanding amount		116,000,000	$ 140,000,000
ABL Facility [Member] | Maximum [Member]
Debt Instrument [Line Items]
Credit facility, increase in amount available for borrowing		500,000,000
ABL Facility [Member] | Foreign Currency Borrowings [Member]
Debt Instrument [Line Items]
Credit facility, borrowing capacity		150,000,000
Inventory Financing Facility [Member]
Debt Instrument [Line Items]
Inventory financing facility maximum borrowing capacity		540,000,000
Accounts payable-inventory financing facility		$ 309,075,000
Inventory Financing Facility [Member] | PNC Facility [Member]
Debt Instrument [Line Items]
Inventory financing facility rate if vendor terms not met equal LIBOR plus		4.50%
Inventory financing facility interest rate if balances are not paid within stated vendor terms		LIBOR plus 4.50%
Unsecured Inventory Financing Facility [Member] | EMEA Facilities [Member]
Debt Instrument [Line Items]
Inventory financing facility rate if vendor terms not met equal LIBOR plus		0.25%
Inventory financing facility interest rate if balances are not paid within stated vendor terms		LIBOR plus 0.25%
Unsecured Inventory Financing Facility [Member] | PNC Facility [Member]
Debt Instrument [Line Items]
Inventory financing facility maximum borrowing capacity		$ 250,000,000
Unsecured Inventory Financing Facility [Member] | MUFG Bank Ltd [Member]
Debt Instrument [Line Items]
Inventory financing facility maximum borrowing capacity		$ 250,000,000
Inventory financing facility interest rate if balances are not paid within stated vendor terms		prime plus 2.00%
Inventory financing facility rate if vendor terms not met equal prime plus		2.00%

Debt, Inventory Financing Fac_5

Debt, Inventory Financing Facilities, Finance Leases and Other Financing Obligations - Schedule of Convertible Senior Notes Balances (Detail) - Convertible Senior Notes due 2025 [Member] - USD ($)	Mar. 31, 2021	Dec. 31, 2020	Aug. 31, 2019
Liability:
Principal	$ 350,000,000	$ 350,000,000	$ 350,000,000
Less: debt discount and issuance costs, net of accumulated accretion	(50,598,000)	(53,581,000)
Net carrying amount	299,402,000	296,419,000
Equity, net of deferred tax	$ 44,731,000	$ 44,731,000

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Income Tax [Line Items]
Effective tax rate	23.80%	20.30%
United States federal statutory income tax rate	21.00%	21.00%
Unrecognized tax benefits	$ 10,890,000		$ 10,546,000
Unrecognized tax benefits, interest on income taxes accrued	$ 817,000		$ 749,000
Period during which examination phase of tax audits may conclude, description	Although the timing of the resolutions and/or closures of audits is highly uncertain, it is reasonably possible that the examination phase of these audits may be concluded within the next 12 months, which could increase or decrease the balance of our gross unrecognized tax benefits.
Earliest Tax Year [Member]
Income Tax [Line Items]
Open tax year	2013
Latest Tax Year [Member]
Income Tax [Line Items]
Open tax year	2018

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2021
Commitments And Contingencies Disclosure [Abstract]
Number of months of salary paid as severance	from three to twenty-four months

Segment Information - Additiona

Segment Information - Additional Information (Detail) - Segment	3 Months Ended		9 Months Ended
	Mar. 31, 2021	Sep. 30, 2020	Sep. 30, 2020
Segment Reporting [Abstract]
Number of operating segments	3	3	3
Description of major customers net sales	None of our clients exceeded ten percent of consolidated net sales for the three months ended March 31, 2021 or 2020.

Segment Information - Summary o

Segment Information - Summary of Revenue Disaggregated by Reportable Operating Segments (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting Information [Line Items]
Disaggregation of Revenue	$ 2,193,068	$ 2,144,051
Hardware Net Sales [Member]
Segment Reporting Information [Line Items]
Disaggregation of Revenue	1,315,025	1,311,201
Software Net Sales [Member]
Segment Reporting Information [Line Items]
Disaggregation of Revenue	577,995	537,115
Services Net Sales [Member]
Segment Reporting Information [Line Items]
Disaggregation of Revenue	300,048	295,735
Gross Revenue Recognition (Principal) [Member]
Segment Reporting Information [Line Items]
Disaggregation of Revenue	2,073,481	2,038,527
Net Revenue Recognition (Agent) [Member]
Segment Reporting Information [Line Items]
Disaggregation of Revenue	119,587	105,524
North America Segment [Member]
Segment Reporting Information [Line Items]
Disaggregation of Revenue	1,654,781	1,674,381
North America Segment [Member] | Hardware Net Sales [Member]
Segment Reporting Information [Line Items]
Disaggregation of Revenue	1,109,489	1,128,486
North America Segment [Member] | Software Net Sales [Member]
Segment Reporting Information [Line Items]
Disaggregation of Revenue	308,738	305,163
North America Segment [Member] | Services Net Sales [Member]
Segment Reporting Information [Line Items]
Disaggregation of Revenue	236,554	240,732
North America Segment [Member] | Gross Revenue Recognition (Principal) [Member]
Segment Reporting Information [Line Items]
Disaggregation of Revenue	1,569,641	1,600,514
North America Segment [Member] | Net Revenue Recognition (Agent) [Member]
Segment Reporting Information [Line Items]
Disaggregation of Revenue	85,140	73,867
EMEA Segment [Member]
Segment Reporting Information [Line Items]
Disaggregation of Revenue	478,836	418,886
EMEA Segment [Member] | Hardware Net Sales [Member]
Segment Reporting Information [Line Items]
Disaggregation of Revenue	195,971	174,969
EMEA Segment [Member] | Software Net Sales [Member]
Segment Reporting Information [Line Items]
Disaggregation of Revenue	234,423	201,082
EMEA Segment [Member] | Services Net Sales [Member]
Segment Reporting Information [Line Items]
Disaggregation of Revenue	48,442	42,835
EMEA Segment [Member] | Gross Revenue Recognition (Principal) [Member]
Segment Reporting Information [Line Items]
Disaggregation of Revenue	450,977	392,259
EMEA Segment [Member] | Net Revenue Recognition (Agent) [Member]
Segment Reporting Information [Line Items]
Disaggregation of Revenue	27,859	26,627
APAC Segment [Member]
Segment Reporting Information [Line Items]
Disaggregation of Revenue	59,451	50,784
APAC Segment [Member] | Hardware Net Sales [Member]
Segment Reporting Information [Line Items]
Disaggregation of Revenue	9,565	7,746
APAC Segment [Member] | Software Net Sales [Member]
Segment Reporting Information [Line Items]
Disaggregation of Revenue	34,834	30,870
APAC Segment [Member] | Services Net Sales [Member]
Segment Reporting Information [Line Items]
Disaggregation of Revenue	15,052	12,168
APAC Segment [Member] | Gross Revenue Recognition (Principal) [Member]
Segment Reporting Information [Line Items]
Disaggregation of Revenue	52,863	45,754
APAC Segment [Member] | Net Revenue Recognition (Agent) [Member]
Segment Reporting Information [Line Items]
Disaggregation of Revenue	6,588	5,030
Large Enterprise / Corporate [Member]
Segment Reporting Information [Line Items]
Disaggregation of Revenue	1,499,579	1,466,061
Large Enterprise / Corporate [Member] | North America Segment [Member]
Segment Reporting Information [Line Items]
Disaggregation of Revenue	1,171,428	1,160,748
Large Enterprise / Corporate [Member] | EMEA Segment [Member]
Segment Reporting Information [Line Items]
Disaggregation of Revenue	309,075	292,288
Large Enterprise / Corporate [Member] | APAC Segment [Member]
Segment Reporting Information [Line Items]
Disaggregation of Revenue	19,076	13,025
Commercial [Member]
Segment Reporting Information [Line Items]
Disaggregation of Revenue	377,245	417,472
Commercial [Member] | North America Segment [Member]
Segment Reporting Information [Line Items]
Disaggregation of Revenue	344,045	386,076
Commercial [Member] | EMEA Segment [Member]
Segment Reporting Information [Line Items]
Disaggregation of Revenue	20,533	17,742
Commercial [Member] | APAC Segment [Member]
Segment Reporting Information [Line Items]
Disaggregation of Revenue	12,667	13,654
Public Sector [Member]
Segment Reporting Information [Line Items]
Disaggregation of Revenue	316,244	260,518
Public Sector [Member] | North America Segment [Member]
Segment Reporting Information [Line Items]
Disaggregation of Revenue	139,308	127,557
Public Sector [Member] | EMEA Segment [Member]
Segment Reporting Information [Line Items]
Disaggregation of Revenue	149,228	108,856
Public Sector [Member] | APAC Segment [Member]
Segment Reporting Information [Line Items]
Disaggregation of Revenue	$ 27,708	$ 24,105

Segment Information - Financial

Segment Information - Financial Information about Reportable Operating Segments (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting Information [Line Items]
Total net sales	$ 2,193,068	$ 2,144,051
Total costs of goods sold	1,861,594	1,818,715
Gross profit	331,474	325,336
Operating expenses:
Selling and administrative expenses	271,190	268,863
Severance and restructuring expenses	(6,740)	2,144
Acquisition and integration related expenses		1,466
Earnings from operations	67,024	52,863
Products [Member]
Segment Reporting Information [Line Items]
Total net sales	1,893,020	1,848,316
Total costs of goods sold	1,721,258	1,670,238
Services [Member]
Segment Reporting Information [Line Items]
Total net sales	300,048	295,735
Total costs of goods sold	140,336	148,477
North America Segment [Member]
Segment Reporting Information [Line Items]
Total net sales	1,654,781	1,674,381
Total costs of goods sold	1,401,292	1,417,453
Gross profit	253,489	256,928
Operating expenses:
Selling and administrative expenses	206,806	211,203
Severance and restructuring expenses	(7,238)	2,122
Acquisition and integration related expenses		1,262
Earnings from operations	53,921	42,341
North America Segment [Member] | Products [Member]
Segment Reporting Information [Line Items]
Total net sales	1,418,227	1,433,649
Total costs of goods sold	1,283,876	1,288,197
North America Segment [Member] | Services [Member]
Segment Reporting Information [Line Items]
Total net sales	236,554	240,732
Total costs of goods sold	117,416	129,256
EMEA Segment [Member]
Segment Reporting Information [Line Items]
Total net sales	478,836	418,886
Total costs of goods sold	412,801	360,112
Gross profit	66,035	58,774
Operating expenses:
Selling and administrative expenses	55,447	50,244
Severance and restructuring expenses	498	6
Acquisition and integration related expenses		204
Earnings from operations	10,090	8,320
EMEA Segment [Member] | Products [Member]
Segment Reporting Information [Line Items]
Total net sales	430,394	376,051
Total costs of goods sold	396,184	345,749
EMEA Segment [Member] | Services [Member]
Segment Reporting Information [Line Items]
Total net sales	48,442	42,835
Total costs of goods sold	16,617	14,363
APAC Segment [Member]
Segment Reporting Information [Line Items]
Total net sales	59,451	50,784
Total costs of goods sold	47,501	41,150
Gross profit	11,950	9,634
Operating expenses:
Selling and administrative expenses	8,937	7,416
Severance and restructuring expenses		16
Earnings from operations	3,013	2,202
APAC Segment [Member] | Products [Member]
Segment Reporting Information [Line Items]
Total net sales	44,399	38,616
Total costs of goods sold	41,198	36,292
APAC Segment [Member] | Services [Member]
Segment Reporting Information [Line Items]
Total net sales	15,052	12,168
Total costs of goods sold	$ 6,303	$ 4,858

Segment Information - Summary_2

Segment Information - Summary of Total Assets by Reportable Operating Segment (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 4,254,607	$ 4,310,732
Operating Segments [Member] | North America Segment [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	4,662,002	4,837,155
Operating Segments [Member] | EMEA Segment [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	796,315	735,771
Operating Segments [Member] | APAC Segment [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	206,986	155,761
Intersegment Eliminations [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ (1,410,696)	$ (1,417,955)

Segment Information - Pre-Tax D

Segment Information - Pre-Tax Depreciation and Amortization by Operating Segment (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting Information [Line Items]
Depreciation and amortization of property and equipment	$ 6,181	$ 7,289
Amortization of intangible assets	8,041	10,108
Depreciation and amortization, total	14,222	17,397
North America Segment [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization of property and equipment	4,807	5,826
Amortization of intangible assets	7,417	9,493
EMEA Segment [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization of property and equipment	1,232	1,328
Amortization of intangible assets	496	506
APAC Segment [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization of property and equipment	142	135
Amortization of intangible assets	$ 128	$ 109