Insight Enterprises (NSIT) 10-Q 5 May 22 2022 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2022	Apr. 29, 2022
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	0-25092
Entity Registrant Name	INSIGHT ENTERPRISES, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	86-0766246
Entity Address, Address Line One	2701 E. Insight Way
Entity Address, City or Town	Chandler
Entity Address, State or Province	AZ
Entity Address, Postal Zip Code	85286
City Area Code	480
Local Phone Number	333-3000
Title of 12(b) Security	Common stock, par value $0.01
Trading Symbol	NSIT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		35,074,362
Entity Central Index Key	0000932696
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Filer Category	Large Accelerated Filer
Former Address
Document Information [Line Items]
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

Consolidated Balance Sheets (un

Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 114,758	$ 103,840
Accounts receivable, net of allowance for doubtful accounts of $16,760 and $16,941, respectively	3,025,699	2,936,732
Inventories	383,401	328,101
Other current assets	244,383	199,638
Total current assets	3,768,241	3,568,311
Property and equipment, net of accumulated depreciation and amortization of $231,333 and $233,786, respectively	189,722	176,263
Goodwill	429,215	428,346
Intangible assets, net of accumulated amortization of $118,905 and $110,909, respectively	207,116	214,788
Other assets	255,494	301,372
Total assets	4,849,788	4,689,080
Current liabilities:
Accounts payable—trade	1,623,651	1,779,854
Accounts payable—inventory financing facilities	318,433	311,878
Accrued expenses and other current liabilities	390,703	423,489
Current portion of long-term debt	344,903	36
Total current liabilities	2,677,690	2,515,257
Long-term debt	373,018	361,570
Deferred income taxes	36,631	47,073
Other liabilities	223,258	255,953
Total liabilities	3,310,597	3,179,853
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; 35,072 shares at March 31, 2022 and 34,897 shares at December 31, 2021 issued and outstanding	351	349
Additional paid-in capital	321,959	368,282
Retained earnings	1,242,110	1,167,690
Accumulated other comprehensive loss – foreign currency translation adjustments	(25,229)	(27,094)
Total stockholders’ equity	1,539,191	1,509,227
Total liabilities and stockholders' equity	$ 4,849,788	$ 4,689,080

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Allowance for doubtful accounts receivable	$ 16,760	$ 16,941
Accumulated depreciation and amortization of property and equipment	231,333	233,786
Accumulated amortization of intangible assets	$ 118,905	$ 110,909
Preferred stock, par value ( in usd per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	3,000,000	3,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares outstanding (in shares)	35,072,000	34,897,000
Common stock, shares issued (in shares)	35,072,000	34,897,000

Consolidated Statements of Oper

Consolidated Statements of Operations (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Net sales:
Total net sales	$ 2,650,850	$ 2,193,068
Costs of goods sold:
Total costs of goods sold	2,271,989	1,861,594
Gross profit	378,861	331,474
Operating expenses:
Selling and administrative expenses	297,640	271,190
Severance and restructuring expenses, net	1,372	(6,740)
Earnings from operations	79,849	67,024
Non-operating (income) expense:
Interest expense, net	8,068	9,969
Other (income) expense, net	(2,843)	388
Earnings before income taxes	74,624	56,667
Income tax expense	17,993	13,499
Net earnings	$ 56,631	$ 43,168
Net earnings per share:
Basic (in usd per share)	$ 1.62	$ 1.23
Diluted (in usd per share)	$ 1.53	$ 1.18
Shares used in per share calculations:
Basic (in shares)	34,974	35,199
Diluted (in shares)	36,981	36,699
Products
Net sales:
Total net sales	$ 2,310,287	$ 1,893,020
Costs of goods sold:
Total costs of goods sold	2,107,209	1,721,258
Services
Net sales:
Total net sales	340,563	300,048
Costs of goods sold:
Total costs of goods sold	$ 164,780	$ 140,336

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net earnings	$ 56,631	$ 43,168
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	1,865	(80)
Total comprehensive income	$ 58,496	$ 43,088

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Treasury Stock	Additional Paid-in Capital	Additional Paid-in CapitalCumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Loss	Retained Earnings	Retained EarningsCumulative Effect, Period of Adoption, Adjustment
Beginning balance (in shares) at Dec. 31, 2020			35,103	0
Beginning balance at Dec. 31, 2020	$ 1,342,429		$ 351	$ 0	$ 364,288		$ (15,455)	$ 993,245
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under employee stock plans, net of shares withheld for payroll taxes (in shares)			217
Issuance of common stock under employee stock plans, net of shares withheld for payroll taxes	(7,067)		$ 2		(7,069)
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 (in shares) at Mar. 31, 2021			35,320	0
Ending balance at Mar. 31, 2021	1,383,166		$ 353	$ 0	361,935		(15,535)	1,036,413
Beginning balance (in shares) at Dec. 31, 2020			35,103	0
Beginning balance at Dec. 31, 2020	1,342,429		$ 351	$ 0	364,288		(15,455)	993,245
Ending balance (in shares) at Dec. 31, 2021			34,897	0
Ending balance at Dec. 31, 2021	$ 1,509,227	$ (26,942)	$ 349	$ 0	368,282	$ (44,731)	(27,094)	1,167,690	$ 17,789
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible Enumeration]	Accounting Standards Update 2020-06
Issuance of common stock under employee stock plans, net of shares withheld for payroll taxes (in shares)			175
Issuance of common stock under employee stock plans, net of shares withheld for payroll taxes	$ (6,597)		$ 2		(6,599)
Stock-based compensation expense	5,007				5,007
Foreign currency translation adjustments, net of tax	1,865						1,865
Net earnings	56,631							56,631
Ending balance (in shares) at Mar. 31, 2022			35,072	0
Ending balance at Mar. 31, 2022	$ 1,539,191		$ 351	$ 0	$ 321,959		$ (25,229)	$ 1,242,110

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities:
Net earnings	$ 56,631	$ 43,168
Adjustments to reconcile net earnings to net cash (used in) provided by operating activities:
Depreciation and amortization	13,314	14,222
Provision for losses on accounts receivable	1,031	2,178
Non-cash stock-based compensation	5,007	4,716
Deferred income taxes	(1,715)	643
Amortization of debt discount and issuance costs	1,623	4,172
Other adjustments	(106)	(7,617)
Changes in assets and liabilities:
(Increase) decrease in accounts receivable	(103,326)	93,485
Increase in inventories	(57,876)	(67,946)
Decrease in other assets	4,111	16,759
Decrease in accounts payable	(137,144)	(25,315)
Decrease in accrued expenses and other liabilities	(65,789)	(35,759)
Net cash (used in) provided by operating activities	(284,239)	42,706
Cash flows from investing activities:
Proceeds from sale of assets	0	27,211
Purchases of property and equipment	(25,745)	(7,847)
Net cash (used in) provided by investing activities	(25,745)	19,364
Cash flows from financing activities:
Net borrowings (repayments) under inventory financing facilities	6,692	(17,782)
Other payments	(6,738)	(7,485)
Net cash provided by (used in) financing activities	319,954	(49,267)
Foreign currency exchange effect on cash, cash equivalents and restricted cash balances	969	(2,445)
Increase in cash, cash equivalents and restricted cash	10,939	10,358
Cash, cash equivalents and restricted cash at beginning of period	105,977	130,582
Cash, cash equivalents and restricted cash at end of period	116,916	140,940
ABL Facility
Cash flows from financing activities:
Borrowings on ABL revolving credit facility	1,151,440	897,848
Repayments on ABL revolving credit facility	$ (831,440)	$ (921,848)

Basis of Presentation and Recen

Basis of Presentation and Recently Issued Accounting Standards	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Recently Issued Accounting Standards	Basis of Presentation and Recently Issued Accounting Standards We empower organizations with technology, solutions and services to help our clients maximize the value of Information Technology (“IT”) today and drive (digital) transformation for tomorrow in North America; Europe, the Middle East and Africa (“EMEA”); and Asia-Pacific (“APAC”). As a Fortune 500-ranked global technology provider of end-to-end secure digital transformation solutions and services, we help clients innovate and optimize their operations to run smarter. Our 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 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 are 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, 2022 and our results of operations for the three months ended March 31, 2022 and 2021 and cash flows for the three months ended March 31, 2022 and 2021. The consolidated balance sheet as of December 31, 2021 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, 2021. 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 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 was effective for fiscal years beginning after December 15, 2021, and can be adopted on either a fully retrospective or modified retrospective basis. The Company adopted this standard effective January 1, 2022, using the modified retrospective approach. Therefore, financial statements for the three months ended March 31, 2022 are presented under the new standard, while the comparative period is not adjusted and is reported in accordance with the Company's old method of accounting. The adoption of ASU 2020-06 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, 2021 that affect or may affect our current financial statements.

Receivables, Contract Liabiliti

Receivables, Contract Liabilities and Performance Obligations	3 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Receivables, Contract Liabilities and Performance Obligations	Receivables, Contract Liabilities and Performance Obligations The following table provides information about receivables and contract liabilities as of March 31, 2022 and December 31, 2021 (in thousands): March 31, December 31, Current receivables, which are included in “Accounts receivable, net” $ 3,025,699 $ 2,936,732 Non-current receivables, which are included in “Other assets” 106,098 147,139 Contract liabilities, which are included in “Accrued expenses and other current liabilities” and “Other liabilities” 120,222 116,067 Changes in the contract liabilities balances during the three months ended March 31, 2022 are as follows (in thousands): Increase (Decrease) Contract Balances at December 31, 2021 $ 116,067 Reclassification of the beginning contract liabilities to revenue, as the result of performance obligations satisfied (31,452) Cash received in advance and not recognized as revenue 35,607 Balances at March 31, 2022 $ 120,222 During the three months ended March 31, 2021, the Company recognized revenue of $34,418,000 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, 2022 that are expected to be recognized in the future (in thousands): Services Remainder of 2022 $ 109,420 2023 49,669 2024 26,963 2025 and thereafter 16,024 Total remaining performance obligations $ 202,076 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 nine months. Additionally, for our time and material services contracts, whereby we have the right to consideration from a client in an amount that corresponds directly with the value to the client of our performance completed to date, we recognized revenue in the amount to which we have a right to invoice as of March 31, 2022 and do not disclose information about related remaining performance obligations in the table above. Our time and material contracts have an average expected duration of 23 months. The majority of our backlog historically has been and continues to be open cancellable 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 cancellable 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, 2022
Property, Plant and Equipment Assets Held-for-sale Disclosure [Abstract]
Assets Held For Sale	Assets Held for SaleDuring the three months ended March 31, 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 used the proceeds from the sales to ready our property in Chandler, Arizona to be used as our global corporate headquarters. During the three months ended March 31, 2022, we had no assets held for sale.

Net Earnings Per Share ("EPS")

Net Earnings Per Share ("EPS")	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Net Earnings Per Share ("EPS")	Net Earnings Per Share (“EPS”)Basic EPS is computed by dividing net earnings available to common stockholders by the weighted average number of common shares outstanding during each 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 2022 2021 Numerator: Net earnings $ 56,631 $ 43,168 Denominator: Weighted average shares used to compute basic EPS 34,974 35,199 Dilutive potential common shares due to dilutive RSUs, net of tax effect 330 461 Dilutive potential common shares due to the Notes 1,677 1,039 Weighted average shares used to compute diluted EPS 36,981 36,699 Net earnings per share: Basic $ 1.62 $ 1.23 Diluted $ 1.53 $ 1.18 For the three months ended March 31, 2022, 13,000 of our RSUs were excluded from the diluted EPS calculations because their inclusion would have been anti-dilutive. 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, 2021, none of our RSUs were excluded from the diluted EPS calculations and certain potential outstanding shares from the 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, 2022
Debt Disclosure [Abstract]
Debt, Inventory Financing Facilities, Finance Leases and Other Financing Obligations	Debt, Inventory Financing Facilities, Finance Leases and Other Financing Obligations Debt Our long-term debt consists of the following (in thousands): March 31, December 31, ABL revolving credit facility $ 373,000 $ 53,000 Convertible senior notes due 2025 344,858 308,543 Finance leases and other financing obligations 63 63 Total 717,921 361,606 Less: current portion of long-term debt (344,903) (36) Long-term debt $ 373,018 $ 361,570 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, 2022, eligible accounts receivable and inventory were sufficient to permit access to the full $1,200,000,000 facility amount, of which $373,000,000 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 and August 15 th of each year. The Notes are general unsecured obligations of Insight and are guaranteed on a senior unsecured basis by Insight Direct USA, Inc., a wholly owned subsidiary of Insight. 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, 2020 (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 (the “market price trigger”); (2) during the five The Notes exceeded the market price trigger of $88.82 in the first quarter of 2022 making the Notes convertible at the option of the holders through June 30, 2022. All of the Notes remain outstanding at March 31, 2022. The Notes are convertible at the option of the holders at March 31, 2022 and, if exercised, we are required to settle the principal amount of the Notes in cash. As such, the Notes balance net of unamortized debt issuance costs are classified as current. If the Notes continue to exceed the market price trigger in future periods, they will remain convertible at the option of the holders, and the principal amount will continue to be classified as current. Upon conversion, we will pay or deliver cash equal to the principal amount of the Notes, plus cash or shares of our common stock or a combination of the two for any additional amounts due. 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, 2022, none of the criteria for a fundamental change or a conversion rate adjustment had been met. 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, 2022, no such events have occurred. The Notes consist of the following balances reported within the consolidated balance sheets (in thousands): March 31, December 31, Liability: Principal $ 350,000 $ 350,000 Less: debt discount and issuance costs, net of accumulated accretion (5,142) (41,457) Net carrying amount $ 344,858 $ 308,543 Equity, net of deferred tax $ — $ 44,731 As a result of our adoption of ASU 2020-06, effective January 1, 2022, we no longer reflect any debt discount on the Notes in our consolidated balance sheet, nor do we recognize amortization of debt discount within our consolidated statement of operations. Also in January 2022, we filed an irrevocable settlement election notice with the note holders to inform them of our election to settle the principal amount of the Notes in cash. As a result of this election, at period ends where the market price, or other conversion triggers are met, the Notes will be classified in our consolidated balance sheet as current. The remaining life of the debt issuance cost accretion is approximately 2.87 years. The effective interest rate on the principal of the Notes is 0.750%. Interest expense resulting from the Notes reported within the consolidated statement of operations for the three months ended March 31, 2022 is made up of contractual coupon interest and amortization of debt issuance costs. Interest expense resulting from the Notes reported within the consolidated statement of operations for the three months ended March 31, 2021 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 We have an unsecured inventory financing facility with MUFG Bank Ltd (“MUFG”) for $280,000,000. During the first quarter of 2022, we increased our maximum availability under our unsecured inventory financing facility with PNC Bank, N.A. (“PNC”) from $300,000,000 to $375,000,000, including the $25,000,000 facility in Canada (the "Canada facility"). We also increased our unsecured inventory financing facility with Wells Fargo in EMEA (the "EMEA facility") to $50,000,000. The inventory financing facilities will remain in effect until they are terminated by any of the parties. If balances are not paid within stated vendor terms, they will accrue interest at prime plus 2.00% on the MUFG facility, Canadian Dollar Offered Rate plus 4.50% on the Canada facility and LIBOR, EURIBOR, or SONIA, as applicable, plus 4.50% and 0.25% on the PNC (other than the Canada facility) and EMEA facilities, respectively. The PNC facility allows for an alternative rate to be identified if LIBOR is no longer available. Amounts outstanding under these facilities are classified separately as accounts payable – inventory financing facilities in the accompanying consolidated balance sheets and within cash flows from financing activities in the accompanying consolidated statements of cash flows.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Our effective tax rates for the three months ended March 31, 2022 and 2021 were 24.1% and 23.8%, respectively. Our effective tax rates were higher than the United States federal statutory rate of 21.0% due primarily to state income taxes 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. As of March 31, 2022 and December 31, 2021, we had approximately $13,347,000 and $12,664,000, respectively, of unrecognized tax benefits. Of these amounts, approximately $1,385,000 and $1,250,000, 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 2015 through 2019. 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.

Share Repurchase Program

Share Repurchase Program	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Share Repurchase Program	Share Repurchase ProgramOn February 26, 2020, we announced that our Board of Directors had authorized the repurchase of up to $50,000,000 of our common stock. On May 6, 2021, we announced that our Board of Directors had authorized the repurchase of up to $125,000,000 of our common stock, including the $25,000,000 that remained available from the February 2020 authorization. As of March 31, 2022, approximately $75,000,000 remained available for repurchases under this share repurchase plan. Our share repurchases may be made on the open market, subject to Rule 10b-18 or in privately negotiated transactions, through block trades, through 10b5-1 plans or otherwise, at management’s discretion. The amount of shares purchased and the timing of the purchases will be based on market conditions, working capital requirements, general business conditions and other factors. We intend to retire the repurchased shares.During the three months ended March 31, 2022 and 2021, we did not repurchase any shares of our common stock.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	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 March 31, 2022, we had approximately $27,348,000 of performance bonds outstanding. These bonds are issued on our behalf by a surety company on an unsecured basis; however, if the surety company is ever required to pay out under the bonds, we have contractually agreed to reimburse the surety company. Management believes that payments, if any, related to these performance bonds are not probable at March 31, 2022. 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 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, 2022. 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, 2022
Segment Reporting [Abstract]
Segment Information	Segment InformationWe 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, including cloud solutions. Our offerings in the remainder of our EMEA and APAC segments are largely software and certain software-related services and cloud solutions. 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, 2022 and 2021 (in thousands): Three Months Ended March 31, 2022 North America EMEA APAC Consolidated Major Offerings Hardware $ 1,451,319 $ 210,623 $ 11,646 $ 1,673,588 Software 341,547 272,402 22,750 636,699 Services 271,639 48,408 20,516 340,563 $ 2,064,505 $ 531,433 $ 54,912 $ 2,650,850 Major Client Groups Large Enterprise / Corporate $ 1,438,729 $ 353,904 $ 21,429 $ 1,814,062 Commercial 441,159 18,421 14,659 474,239 Public Sector 184,617 159,108 18,824 362,549 $ 2,064,505 $ 531,433 $ 54,912 $ 2,650,850 Revenue Recognition based on acting as Principal or Agent in the Transaction Gross revenue recognition (Principal) $ 1,970,921 $ 506,862 $ 47,018 $ 2,524,801 Net revenue recognition (Agent) 93,584 24,571 7,894 126,049 $ 2,064,505 $ 531,433 $ 54,912 $ 2,650,850 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 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, 2022 or 2021. 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, 2022 North America EMEA APAC Consolidated Net sales: Products $ 1,792,866 $ 483,025 $ 34,396 $ 2,310,287 Services 271,639 48,408 20,516 340,563 Total net sales 2,064,505 531,433 54,912 2,650,850 Costs of goods sold: Products 1,625,775 449,632 31,802 2,107,209 Services 138,646 17,031 9,103 164,780 Total costs of goods sold 1,764,421 466,663 40,905 2,271,989 Gross profit 300,084 64,770 14,007 378,861 Operating expenses: Selling and administrative expenses 235,220 52,326 10,094 297,640 Severance and restructuring expenses 304 1,068 — 1,372 Earnings from operations $ 64,560 $ 11,376 $ 3,913 $ 79,849 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 The following is a summary of our total assets by reportable operating segment (in thousands): March 31, December 31, North America $ 4,825,025 $ 4,920,220 EMEA 815,338 828,456 APAC 139,850 148,737 Corporate assets and intercompany eliminations, net (930,425) (1,208,333) Total assets $ 4,849,788 $ 4,689,080 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 2022 2021 Depreciation and amortization of property and equipment: North America $ 4,420 $ 4,807 EMEA 807 1,232 APAC 162 142 5,389 6,181 Amortization of intangible assets: North America 7,348 7,417 EMEA 457 496 APAC 120 128 7,925 8,041 Total $ 13,314 $ 14,222

Basis of Presentation and Rec_2

Basis of Presentation and Recently Issued Accounting Standards (Policies)	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Recently Issued Accounting Standards	Recently Issued Accounting Standards 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 was effective for fiscal years beginning after December 15, 2021, and can be adopted on either a fully retrospective or modified retrospective basis. The Company adopted this standard effective January 1, 2022, using the modified retrospective approach. Therefore, financial statements for the three months ended March 31, 2022 are presented under the new standard, while the comparative period is not adjusted and is reported in accordance with the Company's old method of accounting. The adoption of ASU 2020-06 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, 2021 that affect or may affect our current financial statements.

Receivables, Contract Liabili_2

Receivables, Contract Liabilities and Performance Obligations (Tables)	3 Months Ended
	Mar. 31, 2022
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, 2022 and December 31, 2021 (in thousands): March 31, December 31, Current receivables, which are included in “Accounts receivable, net” $ 3,025,699 $ 2,936,732 Non-current receivables, which are included in “Other assets” 106,098 147,139 Contract liabilities, which are included in “Accrued expenses and other current liabilities” and “Other liabilities” 120,222 116,067
Summary of Changes in Contract Liabilities from Contract with Customers	Changes in the contract liabilities balances during the three months ended March 31, 2022 are as follows (in thousands): Increase (Decrease) Contract Balances at December 31, 2021 $ 116,067 Reclassification of the beginning contract liabilities to revenue, as the result of performance obligations satisfied (31,452) Cash received in advance and not recognized as revenue 35,607 Balances at March 31, 2022 $ 120,222
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, 2022 that are expected to be recognized in the future (in thousands): Services Remainder of 2022 $ 109,420 2023 49,669 2024 26,963 2025 and thereafter 16,024 Total remaining performance obligations $ 202,076

Net Earnings Per Share ("EPS")

Net Earnings Per Share ("EPS") (Tables)	3 Months Ended
	Mar. 31, 2022
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 2022 2021 Numerator: Net earnings $ 56,631 $ 43,168 Denominator: Weighted average shares used to compute basic EPS 34,974 35,199 Dilutive potential common shares due to dilutive RSUs, net of tax effect 330 461 Dilutive potential common shares due to the Notes 1,677 1,039 Weighted average shares used to compute diluted EPS 36,981 36,699 Net earnings per share: Basic $ 1.62 $ 1.23 Diluted $ 1.53 $ 1.18

Debt, Inventory Financing Fac_2

Debt, Inventory Financing Facilities, Finance Leases and Other Financing Obligations (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Long-Term Debt	Our long-term debt consists of the following (in thousands): March 31, December 31, ABL revolving credit facility $ 373,000 $ 53,000 Convertible senior notes due 2025 344,858 308,543 Finance leases and other financing obligations 63 63 Total 717,921 361,606 Less: current portion of long-term debt (344,903) (36) Long-term debt $ 373,018 $ 361,570
Schedule of Convertible Senior Notes Balances	The Notes consist of the following balances reported within the consolidated balance sheets (in thousands): March 31, December 31, Liability: Principal $ 350,000 $ 350,000 Less: debt discount and issuance costs, net of accumulated accretion (5,142) (41,457) Net carrying amount $ 344,858 $ 308,543 Equity, net of deferred tax $ — $ 44,731

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2022
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, 2022 and 2021 (in thousands): Three Months Ended March 31, 2022 North America EMEA APAC Consolidated Major Offerings Hardware $ 1,451,319 $ 210,623 $ 11,646 $ 1,673,588 Software 341,547 272,402 22,750 636,699 Services 271,639 48,408 20,516 340,563 $ 2,064,505 $ 531,433 $ 54,912 $ 2,650,850 Major Client Groups Large Enterprise / Corporate $ 1,438,729 $ 353,904 $ 21,429 $ 1,814,062 Commercial 441,159 18,421 14,659 474,239 Public Sector 184,617 159,108 18,824 362,549 $ 2,064,505 $ 531,433 $ 54,912 $ 2,650,850 Revenue Recognition based on acting as Principal or Agent in the Transaction Gross revenue recognition (Principal) $ 1,970,921 $ 506,862 $ 47,018 $ 2,524,801 Net revenue recognition (Agent) 93,584 24,571 7,894 126,049 $ 2,064,505 $ 531,433 $ 54,912 $ 2,650,850 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
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, 2022 North America EMEA APAC Consolidated Net sales: Products $ 1,792,866 $ 483,025 $ 34,396 $ 2,310,287 Services 271,639 48,408 20,516 340,563 Total net sales 2,064,505 531,433 54,912 2,650,850 Costs of goods sold: Products 1,625,775 449,632 31,802 2,107,209 Services 138,646 17,031 9,103 164,780 Total costs of goods sold 1,764,421 466,663 40,905 2,271,989 Gross profit 300,084 64,770 14,007 378,861 Operating expenses: Selling and administrative expenses 235,220 52,326 10,094 297,640 Severance and restructuring expenses 304 1,068 — 1,372 Earnings from operations $ 64,560 $ 11,376 $ 3,913 $ 79,849 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
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, December 31, North America $ 4,825,025 $ 4,920,220 EMEA 815,338 828,456 APAC 139,850 148,737 Corporate assets and intercompany eliminations, net (930,425) (1,208,333) Total assets $ 4,849,788 $ 4,689,080
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 2022 2021 Depreciation and amortization of property and equipment: North America $ 4,420 $ 4,807 EMEA 807 1,232 APAC 162 142 5,389 6,181 Amortization of intangible assets: North America 7,348 7,417 EMEA 457 496 APAC 120 128 7,925 8,041 Total $ 13,314 $ 14,222

Basis of Presentation and Rec_3

Basis of Presentation and Recently Issued Accounting Standards - Additional Information (Detail) $ / shares in Units, $ in Thousands	Jan. 01, 2022	Mar. 31, 2022USD ($)Segment$ / shares	Mar. 31, 2021USD ($)$ / shares	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Number of operating segments | Segment		3
Accounting Standards Update [Extensible Enumeration]	Accounting Standards Update 2020-06			Accounting Standards Update 2020-06
Stockholders' equity attributable to parent | $		$ 1,539,191	$ 1,383,166	$ 1,509,227	$ 1,342,429
Basic (in usd per share) | $ / shares		$ 1.62	$ 1.23
Diluted (in usd per share) | $ / shares		$ 1.53	$ 1.18
Additional Paid-in Capital
Stockholders' equity attributable to parent | $		$ 321,959	$ 361,935	368,282	364,288
Retained Earnings
Stockholders' equity attributable to parent | $		$ 1,242,110	$ 1,036,413	1,167,690	$ 993,245
Cumulative Effect, Period of Adoption, Adjustment
Stockholders' equity attributable to parent | $				(26,942)
Cumulative Effect, Period of Adoption, Adjustment | Additional Paid-in Capital
Stockholders' equity attributable to parent | $				(44,731)
Cumulative Effect, Period of Adoption, Adjustment | Retained Earnings
Stockholders' equity attributable to parent | $				$ 17,789
Old Method of Accounting
Basic (in usd per share) | $ / shares		$ 1.56
Diluted (in usd per share) | $ / shares		1.48
Accounting Standards Update 2020-06
Basic (in usd per share) | $ / shares		(0.06)
Diluted (in usd per share) | $ / shares		$ (0.05)

Receivables, Contract Liabili_3

Receivables, Contract Liabilities and Performance Obligations - Summary of Information about Receivables and Contract Liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Current receivables, which are included in “Accounts receivable, net”	$ 3,025,699	$ 2,936,732
Contract liabilities, which are included in “Accrued expenses and other current liabilities” and “Other liabilities”	120,222	116,067
Accounts Receivable, Net
Disaggregation of Revenue [Line Items]
Current receivables, which are included in “Accounts receivable, net”	3,025,699	2,936,732
Other Assets
Disaggregation of Revenue [Line Items]
Non-current receivables, which are included in “Other assets”	106,098	147,139
Accrued Expenses and Other Current Liabilities and Other Liabilities
Disaggregation of Revenue [Line Items]
Contract liabilities, which are included in “Accrued expenses and other current liabilities” and “Other liabilities”	$ 120,222	$ 116,067

Receivables, Contract Liabili_4

Receivables, Contract Liabilities and Performance Obligations - Summary of Changes in Contract Liabilities from Contract with Customers (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Contract with Customer, Contract Asset, Contract Liability, and Receivable Increase (Decrease) [Roll Forward]
Beginning balance	$ 116,067
Reclassification of the beginning contract liabilities to revenue, as the result of performance obligations satisfied	(31,452)
Cash received in advance and not recognized as revenue	35,607
Ending balance	$ 120,222

Receivables, Contract Liabili_5

Receivables, Contract Liabilities and Performance Obligations - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Contract with customer, liability, revenue recognized		$ 34,418
Time and material contracts expected duration	23 months

Receivables, Contract Liabili_6

Receivables, Contract Liabilities and Performance Obligations - Summary of Estimated Net Sales Related to Performance Obligation (Detail) - Services $ in Thousands	Mar. 31, 2022USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total remaining performance obligations	$ 202,076
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total remaining performance obligations	$ 109,420
Remaining performance obligation, expected timing of satisfaction period	9 months
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	$ 49,669
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	$ 26,963
Remaining performance obligation, expected timing of satisfaction period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total remaining performance obligations	$ 16,024
Remaining performance obligation, expected timing of satisfaction period	1 year

Assets Held for Sale - Addition

Assets Held for Sale - Additional Information (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2022Property	Mar. 31, 2021USD ($)
Long Lived Assets Held For Sale [Line Items]
Number of properties | Property	3
Irvine, California Property
Long Lived Assets Held For Sale [Line Items]
Proceeds from Sale of Property Held-for-sale | $		$ 27,211

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, 2022	Mar. 31, 2021
Numerator:
Net earnings	$ 56,631	$ 43,168
Denominator:
Weighted average shares used to compute basic EPS (in shares)	34,974	35,199
Dilutive potential common shares due to dilutive RSUs, net of tax effect (in shares)	330	461
Weighted average shares used to compute diluted EPS (in shares)	36,981	36,699
Net earnings per share:
Basic (in usd per share)	$ 1.62	$ 1.23
Diluted (in usd per share)	$ 1.53	$ 1.18
Notes
Denominator:
Dilutive potential common shares due to the Notes (in shares)	1,677	1,039

Net Earnings Per Share ("EPS"_3

Net Earnings Per Share ("EPS") - Additional Information (Detail) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Restricted Stock Units (RSUs)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
RSUs excluded from the diluted EPS calculations	13	0

Debt, Inventory Financing Fac_3

Debt, Inventory Financing Facilities, Finance Leases and Other Financing Obligations - Long-Term Debt (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Finance leases and other financing obligations	$ 63	$ 63
Total	717,921	361,606
Less: current portion of long-term debt	(344,903)	(36)
Long-term debt	373,018	361,570
ABL Facility
Debt Instrument [Line Items]
ABL revolving credit facility	373,000	53,000
Convertible Senior Notes
Debt Instrument [Line Items]
Convertible senior notes due 2025	$ 344,858	$ 308,543

Debt, Inventory Financing Fac_4

Debt, Inventory Financing Facilities, Finance Leases and Other Financing Obligations - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2022USD ($)dshares$ / shares	Dec. 31, 2021USD ($)	Aug. 06, 2021USD ($)	Aug. 31, 2019USD ($)
Debt Instrument [Line Items]
Accounts payable-inventory financing facility	$ 318,433,000	$ 311,878,000
ABL Facility
Debt Instrument [Line Items]
Credit facility, borrowing capacity	1,200,000,000
Amount of facility permitted by qualified receivables	1,200,000,000
Line of credit outstanding amount	373,000,000	53,000,000
Inventory Financing Facility
Debt Instrument [Line Items]
Inventory financing facility maximum borrowing capacity	705,000,000
Accounts payable-inventory financing facility	318,433,000
Foreign Currency Borrowings | ABL Facility
Debt Instrument [Line Items]
Credit facility, borrowing capacity	150,000,000
Convertible Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount of notes, issued amount	$ 350,000,000	350,000,000		$ 350,000,000
Notes, interest rate				0.75%
Conversion price per share (in usd per share) | $ / shares	$ 88.82
Principal amount per note used in conversion rate	$ 1,000
Debt conversion, initial conversion rate (in shares) | shares	14.6376
Conversion price per share (in usd per share) | $ / shares	$ 68.32
Repurchase price as percentage of principal amount	100.00%
Shares issuable upon conversion of debt (in shares) | shares	6,788,208
Notes, remaining accretion period of debt discount and issuance cost	2 years 10 months 13 days
Notes, effective interest rate	0.75%
Conversion price per share (in usd per share) | $ / shares	$ 68.32
Payments to convertible note hedge transaction	$ 66,325,000
Warrants sold to purchase of additional common stock (in shares) | shares	5,123,160
Warrant price per share to purchase additional common stock (in usd per share) | $ / shares	$ 103.12
Proceeds from sale of warrants	$ 34,440,000
Convertible Senior Notes | Scenario One
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 | Scenario Two
Debt Instrument [Line Items]
Percentage of last reported sale price to conversion price on each applicable trading day	98.00%
Measurement period	5 days
Canada Facility | Unsecured Inventory Financing Facility
Debt Instrument [Line Items]
Inventory financing facility maximum borrowing capacity	$ 25,000,000
MUFG Bank Ltd | Unsecured Inventory Financing Facility
Debt Instrument [Line Items]
Inventory financing facility maximum borrowing capacity			$ 280,000,000,000
Inventory financing facility rate if vendor terms not met equal prime plus	2.00%
PNC Facility | Unsecured Inventory Financing Facility
Debt Instrument [Line Items]
Inventory financing facility maximum borrowing capacity	$ 375,000,000	$ 300,000,000
PNC Facility | Inventory Financing Facility
Debt Instrument [Line Items]
Inventory financing facility rate if vendor terms not met equal LIBOR plus	4.50%
EMEA Facilities | Unsecured Inventory Financing Facility
Debt Instrument [Line Items]
Inventory financing facility maximum borrowing capacity			$ 50,000,000
Inventory financing facility rate if vendor terms not met equal LIBOR plus	0.25%
Maximum | ABL Facility
Debt Instrument [Line Items]
Credit facility, increase in amount available for borrowing	$ 500,000,000
Maximum | Convertible Senior Notes
Debt Instrument [Line Items]
Option to purchase common stock (in shares) | shares	5,123,160

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 - USD ($)	Mar. 31, 2022	Dec. 31, 2021	Aug. 31, 2019
Liability:
Principal	$ 350,000,000	$ 350,000,000	$ 350,000,000
Less: debt discount and issuance costs, net of accumulated accretion	(5,142,000)	(41,457,000)
Net carrying amount	344,858,000	308,543,000
Equity, net of deferred tax	$ 0	$ 44,731,000

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Effective tax rate	24.10%	23.80%
United States federal statutory income tax rate	21.00%
Unrecognized tax benefits	$ 13,347		$ 12,664
Unrecognized tax benefits, interest on income taxes accrued	$ 1,385		$ 1,250

Share Repurchase Program - Addi

Share Repurchase Program - Additional Information (Detail) - USD ($)	Mar. 31, 2022	May 06, 2021	Feb. 26, 2020
Schedule Of Share Repurchase Programs [Line Items]
Common stock repurchase program, authorized amount		$ 125,000,000	$ 50,000,000
Common stock repurchase program, authorized remaining amount	$ 75,000,000
February 2020 Share Repurchase Plan
Schedule Of Share Repurchase Programs [Line Items]
Common stock repurchase program, authorized remaining amount		$ 25,000,000

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2022USD ($)
Surety Bond
Commitments And Contingencies [Line Items]
Performance bonds outstanding	$ 27,348,000
Minimum
Commitments And Contingencies [Line Items]
Number of months of salary paid as severance	3 months
Maximum
Commitments And Contingencies [Line Items]
Number of months of salary paid as severance	24 months

Segment Information - Additiona

Segment Information - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2022Segment
Segment Reporting [Abstract]
Number of operating segments	3

Segment Information - Summary o

Segment Information - Summary of Revenue Disaggregated by Reportable Operating Segments (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Segment Reporting Information [Line Items]
Disaggregation of revenue	$ 2,650,850	$ 2,193,068
Hardware
Segment Reporting Information [Line Items]
Disaggregation of revenue	1,673,588	1,315,025
Software
Segment Reporting Information [Line Items]
Disaggregation of revenue	636,699	577,995
Services
Segment Reporting Information [Line Items]
Disaggregation of revenue	340,563	300,048
Gross revenue recognition (Principal)
Segment Reporting Information [Line Items]
Disaggregation of revenue	2,524,801	2,073,481
Net revenue recognition (Agent)
Segment Reporting Information [Line Items]
Disaggregation of revenue	126,049	119,587
North America
Segment Reporting Information [Line Items]
Disaggregation of revenue	2,064,505	1,654,781
North America | Hardware
Segment Reporting Information [Line Items]
Disaggregation of revenue	1,451,319	1,109,489
North America | Software
Segment Reporting Information [Line Items]
Disaggregation of revenue	341,547	308,738
North America | Services
Segment Reporting Information [Line Items]
Disaggregation of revenue	271,639	236,554
North America | Gross revenue recognition (Principal)
Segment Reporting Information [Line Items]
Disaggregation of revenue	1,970,921	1,569,641
North America | Net revenue recognition (Agent)
Segment Reporting Information [Line Items]
Disaggregation of revenue	93,584	85,140
EMEA
Segment Reporting Information [Line Items]
Disaggregation of revenue	531,433	478,836
EMEA | Hardware
Segment Reporting Information [Line Items]
Disaggregation of revenue	210,623	195,971
EMEA | Software
Segment Reporting Information [Line Items]
Disaggregation of revenue	272,402	234,423
EMEA | Services
Segment Reporting Information [Line Items]
Disaggregation of revenue	48,408	48,442
EMEA | Gross revenue recognition (Principal)
Segment Reporting Information [Line Items]
Disaggregation of revenue	506,862	450,977
EMEA | Net revenue recognition (Agent)
Segment Reporting Information [Line Items]
Disaggregation of revenue	24,571	27,859
APAC
Segment Reporting Information [Line Items]
Disaggregation of revenue	54,912	59,451
APAC | Hardware
Segment Reporting Information [Line Items]
Disaggregation of revenue	11,646	9,565
APAC | Software
Segment Reporting Information [Line Items]
Disaggregation of revenue	22,750	34,834
APAC | Services
Segment Reporting Information [Line Items]
Disaggregation of revenue	20,516	15,052
APAC | Gross revenue recognition (Principal)
Segment Reporting Information [Line Items]
Disaggregation of revenue	47,018	52,863
APAC | Net revenue recognition (Agent)
Segment Reporting Information [Line Items]
Disaggregation of revenue	7,894	6,588
Large Enterprise / Corporate
Segment Reporting Information [Line Items]
Disaggregation of revenue	1,814,062	1,499,579
Large Enterprise / Corporate | North America
Segment Reporting Information [Line Items]
Disaggregation of revenue	1,438,729	1,171,428
Large Enterprise / Corporate | EMEA
Segment Reporting Information [Line Items]
Disaggregation of revenue	353,904	309,075
Large Enterprise / Corporate | APAC
Segment Reporting Information [Line Items]
Disaggregation of revenue	21,429	19,076
Commercial
Segment Reporting Information [Line Items]
Disaggregation of revenue	474,239	377,245
Commercial | North America
Segment Reporting Information [Line Items]
Disaggregation of revenue	441,159	344,045
Commercial | EMEA
Segment Reporting Information [Line Items]
Disaggregation of revenue	18,421	20,533
Commercial | APAC
Segment Reporting Information [Line Items]
Disaggregation of revenue	14,659	12,667
Public Sector
Segment Reporting Information [Line Items]
Disaggregation of revenue	362,549	316,244
Public Sector | North America
Segment Reporting Information [Line Items]
Disaggregation of revenue	184,617	139,308
Public Sector | EMEA
Segment Reporting Information [Line Items]
Disaggregation of revenue	159,108	149,228
Public Sector | APAC
Segment Reporting Information [Line Items]
Disaggregation of revenue	$ 18,824	$ 27,708

Segment Information - Financial

Segment Information - Financial Information about Reportable Operating Segments (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Segment Reporting Information [Line Items]
Total net sales	$ 2,650,850	$ 2,193,068
Total costs of goods sold	2,271,989	1,861,594
Gross profit	378,861	331,474
Operating expenses:
Selling and administrative expenses	297,640	271,190
Severance and restructuring expenses	1,372	(6,740)
Earnings from operations	79,849	67,024
Products
Segment Reporting Information [Line Items]
Total net sales	2,310,287	1,893,020
Total costs of goods sold	2,107,209	1,721,258
Services
Segment Reporting Information [Line Items]
Total net sales	340,563	300,048
Total costs of goods sold	164,780	140,336
North America
Segment Reporting Information [Line Items]
Total net sales	2,064,505	1,654,781
Total costs of goods sold	1,764,421	1,401,292
Gross profit	300,084	253,489
Operating expenses:
Selling and administrative expenses	235,220	206,806
Severance and restructuring expenses	304	(7,238)
Earnings from operations	64,560	53,921
North America | Products
Segment Reporting Information [Line Items]
Total net sales	1,792,866	1,418,227
Total costs of goods sold	1,625,775	1,283,876
North America | Services
Segment Reporting Information [Line Items]
Total net sales	271,639	236,554
Total costs of goods sold	138,646	117,416
EMEA
Segment Reporting Information [Line Items]
Total net sales	531,433	478,836
Total costs of goods sold	466,663	412,801
Gross profit	64,770	66,035
Operating expenses:
Selling and administrative expenses	52,326	55,447
Severance and restructuring expenses	1,068	498
Earnings from operations	11,376	10,090
EMEA | Products
Segment Reporting Information [Line Items]
Total net sales	483,025	430,394
Total costs of goods sold	449,632	396,184
EMEA | Services
Segment Reporting Information [Line Items]
Total net sales	48,408	48,442
Total costs of goods sold	17,031	16,617
APAC
Segment Reporting Information [Line Items]
Total net sales	54,912	59,451
Total costs of goods sold	40,905	47,501
Gross profit	14,007	11,950
Operating expenses:
Selling and administrative expenses	10,094	8,937
Severance and restructuring expenses	0	0
Earnings from operations	3,913	3,013
APAC | Products
Segment Reporting Information [Line Items]
Total net sales	34,396	44,399
Total costs of goods sold	31,802	41,198
APAC | Services
Segment Reporting Information [Line Items]
Total net sales	20,516	15,052
Total costs of goods sold	$ 9,103	$ 6,303

Segment Information - Summary_2

Segment Information - Summary of Total Assets by Reportable Operating Segment (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 4,849,788	$ 4,689,080
Operating Segments | North America
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	4,825,025	4,920,220
Operating Segments | EMEA
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	815,338	828,456
Operating Segments | APAC
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	139,850	148,737
Intersegment Eliminations
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ (930,425)	$ (1,208,333)

Segment Information - Pre-Tax D

Segment Information - Pre-Tax Depreciation and Amortization by Operating Segment (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Segment Reporting Information [Line Items]
Depreciation and amortization of property and equipment	$ 5,389	$ 6,181
Amortization of intangible assets	7,925	8,041
Depreciation and amortization, total	13,314	14,222
North America
Segment Reporting Information [Line Items]
Depreciation and amortization of property and equipment	4,420	4,807
Amortization of intangible assets	7,348	7,417
EMEA
Segment Reporting Information [Line Items]
Depreciation and amortization of property and equipment	807	1,232
Amortization of intangible assets	457	496
APAC
Segment Reporting Information [Line Items]
Depreciation and amortization of property and equipment	162	142
Amortization of intangible assets	$ 120	$ 128