Insight Enterprises (NSIT) 10-Q 3 Aug 23 2023 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2023	Jul. 28, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
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 Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		35,572,967
Entity Central Index Key	0000932696
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Amendment Flag	false

Consolidated Balance Sheets (un

Consolidated Balance Sheets (unaudited) - USD ($) shares in Thousands, $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 195,954	$ 163,637
Accounts receivable, net of allowance for doubtful accounts of $13,567 and $15,161, respectively	3,666,077	3,272,371
Inventories	248,188	265,154
Other current assets	229,556	199,506
Total current assets	4,339,775	3,900,668
Property and equipment, net of accumulated depreciation and amortization of $218,300 and $214,981, respectively	201,646	204,260
Goodwill	494,979	493,033
Intangible assets, net of accumulated amortization of $155,515 and $142,297, respectively	189,383	204,998
Other assets	316,548	309,622
Total assets	5,542,331	5,112,581
Current liabilities:
Accounts payable—trade	2,224,378	1,785,076
Accounts payable—inventory financing facilities	333,096	301,314
Accrued expenses and other current liabilities	408,645	433,789
Current portion of long-term debt	347,115	346,228
Total current liabilities	3,313,234	2,866,407
Long-term debt	337,950	291,672
Deferred income taxes	32,194	32,844
Other liabilities	289,998	283,590
Total liabilities	3,973,376	3,474,513
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; 32,568 shares at June 30, 2023 and 34,009 shares at December 31, 2022 issued and outstanding	326	340
Additional paid-in capital	318,078	327,872
Retained earnings	1,297,558	1,368,658
Accumulated other comprehensive loss – foreign currency translation adjustments	(47,007)	(58,802)
Total stockholders’ equity	1,568,955	1,638,068
Total liabilities and stockholders' equity	$ 5,542,331	$ 5,112,581
Common stock, shares issued (in shares)	32,568	34,009
Common stock, shares outstanding (in shares)	32,568	34,009

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Allowance for doubtful accounts receivable	$ 13,567	$ 15,161
Accumulated depreciation and amortization of property and equipment	218,300	214,981
Accumulated amortization of intangible assets	$ 155,515	$ 142,297
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 issued (in shares)	32,568,000	34,009,000
Common stock, shares outstanding (in shares)	32,568,000	34,009,000

Consolidated Statements of Oper

Consolidated Statements of Operations (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Net sales:
Total net sales	$ 2,349,596	$ 2,743,377	$ 4,673,543	$ 5,394,227
Costs of goods sold:
Total costs of goods sold	1,916,406	2,305,488	3,849,038	4,577,477
Gross profit	433,190	437,889	824,505	816,750
Operating expenses:
Selling and administrative expenses	318,243	306,001	628,244	603,641
Severance and restructuring expenses, net	(3,770)	692	32	2,064
Acquisition and integration related expenses	106	1,640	157	1,640
Earnings from operations	118,611	129,556	196,072	209,405
Non-operating (income) expense:
Interest expense, net	9,405	9,383	19,753	17,451
Other (income) expense, net	(60)	312	692	(2,531)
Earnings before income taxes	109,266	119,861	175,627	194,485
Income tax expense	28,784	30,677	45,173	48,670
Net earnings	$ 80,482	$ 89,184	$ 130,454	$ 145,815
Net earnings per share:
Basic (in usd per share)	$ 2.43	$ 2.54	$ 3.91	$ 4.16
Diluted (in usd per share)	$ 2.17	$ 2.42	$ 3.51	$ 3.95
Shares used in per share calculations:
Basic (in shares)	33,101	35,083	33,403	35,028
Diluted (in shares)	37,039	36,821	37,123	36,901
Products
Net sales:
Total net sales	$ 1,945,609	$ 2,349,242	$ 3,913,254	$ 4,659,529
Costs of goods sold:
Total costs of goods sold	1,749,448	2,135,895	3,522,177	4,243,104
Gross profit	196,161	213,347	391,077	416,425
Services
Net sales:
Total net sales	403,987	394,135	760,289	734,698
Costs of goods sold:
Total costs of goods sold	166,958	169,593	326,861	334,373
Gross profit	$ 237,029	$ 224,542	$ 433,428	$ 400,325

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net earnings	$ 80,482	$ 89,184	$ 130,454	$ 145,815
Other comprehensive gain (loss), net of tax:
Foreign currency translation adjustments	7,189	(20,601)	11,795	(18,736)
Total comprehensive income	$ 87,671	$ 68,583	$ 142,249	$ 127,079

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 Capital Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Loss	Retained Earnings	Retained Earnings Cumulative Effect, Period of Adoption, Adjustment
Common stock, beginning balance (in shares) at Dec. 31, 2021			34,897
Treasury stock, beginning balance (in shares) at Dec. 31, 2021				0
Beginning 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]
Issuance of common stock under employee stock plans, net of shares withheld for payroll taxes (in shares)			196
Issuance of common stock under employee stock plans, net of shares withheld for payroll taxes	(6,701)		$ 2		(6,703)
Stock-based compensation expense	10,434				10,434
Foreign currency translation adjustments, net of tax	(18,736)						(18,736)
Net earnings	145,815							145,815
Common stock, ending balance (in shares) at Jun. 30, 2022			35,093
Treasury stock, ending balance (in shares) at Jun. 30, 2022				0
Ending balance at Jun. 30, 2022	1,613,097		$ 351	$ 0	327,282		(45,830)	1,331,294
Common stock, beginning balance (in shares) at Mar. 31, 2022			35,072
Treasury stock, beginning balance (in shares) at Mar. 31, 2022				0
Beginning balance at Mar. 31, 2022	1,539,191		$ 351	$ 0	321,959		(25,229)	1,242,110
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under employee stock plans, net of shares withheld for payroll taxes (in shares)			21
Issuance of common stock under employee stock plans, net of shares withheld for payroll taxes	(104)				(104)
Stock-based compensation expense	5,427				5,427
Foreign currency translation adjustments, net of tax	(20,601)						(20,601)
Net earnings	89,184							89,184
Common stock, ending balance (in shares) at Jun. 30, 2022			35,093
Treasury stock, ending balance (in shares) at Jun. 30, 2022				0
Ending balance at Jun. 30, 2022	$ 1,613,097		$ 351	$ 0	327,282		(45,830)	1,331,294
Common stock, beginning balance (in shares) at Dec. 31, 2022	34,009		34,009
Treasury stock, beginning balance (in shares) at Dec. 31, 2022				0
Beginning balance at Dec. 31, 2022	$ 1,638,068		$ 340	$ 0	327,872		(58,802)	1,368,658
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under employee stock plans, net of shares withheld for payroll taxes (in shares)			193
Issuance of common stock under employee stock plans, net of shares withheld for payroll taxes	(9,005)		$ 2		(9,007)
Stock-based compensation expense	16,663				16,663
Repurchase of treasury stock (in shares)				(1,634)
Repurchase of treasury stock	(217,108)			$ (217,108)
Retirement of treasury stock (in shares)			1,634	1,634
Retirement of treasury stock	(1)		$ 16	$ (217,108)	15,537			201,554
Excise tax on stock repurchases	(1,913)				(1,913)
Foreign currency translation adjustments, net of tax	11,795						11,795
Net earnings	$ 130,454							130,454
Common stock, ending balance (in shares) at Jun. 30, 2023	32,568		32,568
Treasury stock, ending balance (in shares) at Jun. 30, 2023				0
Ending balance at Jun. 30, 2023	$ 1,568,955		$ 326	$ 0	318,078		(47,007)	1,297,558
Common stock, beginning balance (in shares) at Mar. 31, 2023			33,261
Treasury stock, beginning balance (in shares) at Mar. 31, 2023				0
Beginning balance at Mar. 31, 2023	1,573,598		$ 333	$ 0	317,283		(54,196)	1,310,178
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under employee stock plans, net of shares withheld for payroll taxes (in shares)			27
Issuance of common stock under employee stock plans, net of shares withheld for payroll taxes	(1,083)				(1,083)
Stock-based compensation expense	9,767				9,767
Repurchase of treasury stock (in shares)				(720)
Repurchase of treasury stock	(99,980)			$ (99,980)
Retirement of treasury stock (in shares)			720	720
Retirement of treasury stock	(1)		$ 7	$ (99,980)	6,870			93,102
Excise tax on stock repurchases	(1,019)				(1,019)
Foreign currency translation adjustments, net of tax	7,189						7,189
Net earnings	$ 80,482							80,482
Common stock, ending balance (in shares) at Jun. 30, 2023	32,568		32,568
Treasury stock, ending balance (in shares) at Jun. 30, 2023				0
Ending balance at Jun. 30, 2023	$ 1,568,955		$ 326	$ 0	$ 318,078		$ (47,007)	$ 1,297,558

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities:
Net earnings	$ 130,454	$ 145,815
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:
Depreciation and amortization	29,148	26,769
Provision for losses on accounts receivable	2,585	2,743
Non-cash stock-based compensation	16,663	10,434
Deferred income taxes	(1,231)	(575)
Amortization of debt issuance costs	2,430	3,268
Other adjustments	(2,801)	1,810
Changes in assets and liabilities:
Increase in accounts receivable	(368,612)	(734,971)
Decrease (increase) in inventories	14,596	(56,811)
Increase in other assets	(34,877)	(53,802)
Increase in accounts payable	420,349	223,198
Decrease in accrued expenses and other liabilities	(20,744)	(9,875)
Net cash provided by (used in) operating activities:	187,960	(441,997)
Cash flows from investing activities:
Proceeds from sale of assets	15,515	1,350
Purchases of property and equipment	(13,202)	(47,256)
Acquisitions, net of cash and cash equivalents acquired	0	(68,248)
Net cash provided by (used in) investing activities:	2,313	(114,154)
Cash flows from financing activities:
Net borrowings (repayments) under inventory financing facilities	30,848	(62,119)
Repurchases of common stock	(217,108)	0
Earn out payments	(10,748)	0
Other payments	(9,161)	(6,938)
Net cash (used in) provided by financing activities:	(161,059)	598,418
Foreign currency exchange effect on cash, cash equivalents and restricted cash balances	3,050	(8,606)
Increase in cash, cash equivalents and restricted cash	32,264	33,661
Cash, cash equivalents and restricted cash at beginning of period	165,718	105,977
Cash, cash equivalents and restricted cash at end of period	197,982	139,638
ABL Facility
Cash flows from financing activities:
Borrowings on ABL revolving credit facility	2,259,356	2,592,440
Repayments on ABL revolving credit facility	$ (2,214,246)	$ (1,924,965)

Basis of Presentation and Recen

Basis of Presentation and Recently Issued Accounting Standards	6 Months Ended
	Jun. 30, 2023
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 help our clients accelerate their digital journey to modernize their business and maximize the value of technology. We serve these clients in North America; Europe, the Middle East and Africa (“EMEA”); and Asia-Pacific (“APAC”). As a Fortune 500-ranked solutions integrator, we enable secure, end-to-end digital transformation and meet the needs of our clients through a comprehensive portfolio of solutions, far-reaching partnerships and 35 years of broad IT expertise. We amplify our solutions and services with global scale, local expertise and our e-commerce experience, enabling our clients to realize their digital ambitions at every opportunity. 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, 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 June 30, 2023 and our results of operations for the three and six months ended June 30, 2023 and 2022 and cash flows for the six months ended June 30, 2023 and 2022. The consolidated balance sheet as of December 31, 2022 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, 2022. 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 September 2022, the Financial Accounting Standards Board ("FASB") issued ASU No. 2022-04, “Liabilities - Supplier Finance Programs (Subtopic 405-50)”. This standard is intended to address requests from stakeholders for information about an entity’s use of supplier finance programs and their effect on the entity’s working capital, liquidity, and cash flows. The guidance was effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, except for the amendment on roll-forward information requirement, which is effective for fiscal years beginning after December 15, 2023. The Company adopted this standard effective January 1, 2023, with the exception of the roll-forward information requirement. The adoption did not have a material effect on the Company's disclosures. 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, 2022 that affect or may affect our current financial statements.

Receivables, Contract Liabiliti

Receivables, Contract Liabilities and Performance Obligations	6 Months Ended
	Jun. 30, 2023
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 June 30, 2023 and December 31, 2022 (in thousands): June 30, December 31, Current receivables, which are included in “Accounts receivable, net” $ 3,666,077 $ 3,272,371 Non-current receivables, which are included in “Other assets” 163,567 161,837 Contract liabilities, which are included in “Accrued expenses and other current liabilities” and “Other liabilities” 113,030 102,057 Changes in the contract liabilities balances during the six months ended June 30, 2023 are as follows (in thousands): Increase (Decrease) Contract Balances at December 31, 2022 $ 102,057 Reclassification of the beginning contract liabilities to revenue, as the result of performance obligations satisfied (43,949) Cash received in advance and not recognized as revenue 54,922 Balances at June 30, 2023 $ 113,030 During the six months ended June 30, 2022, the Company recognized revenue of $55,380,000 related to its contract liabilities. The following table includes estimated net sales related to performance obligations that are unsatisfied (or partially unsatisfied) as of June 30, 2023 that are expected to be recognized in the future (in thousands): Services Remainder of 2023 $ 65,593 2024 42,352 2025 18,051 2026 and thereafter 8,925 Total remaining performance obligations $ 134,921 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 June 30, 2023 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 22 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	6 Months Ended
	Jun. 30, 2023
Property, Plant and Equipment Assets Held-for-Sale Disclosure [Abstract]
Assets Held For Sale	Assets Held for SaleDuring the three and six months ended June 30, 2023, we completed the sale of our properties in Montreal, Canada and Sheffield, United Kingdom for total net proceeds of approximately $15,476,000. We recognized a net gain on sale of approximately $7,623,000, reported in severance and restructuring expenses, net. During the three and six months ended June 30, 2022, we had no assets held for sale.

Net Earnings Per Share

Net Earnings Per Share	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Net Earnings Per Share	Net Earnings Per Share Basic earnings per share ("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 and the warrants relating to the Call Spread Transactions. A reconciliation of the denominators of the basic and diluted EPS calculations follows (in thousands, except per share data): Three Months Ended Six Months Ended 2023 2022 2023 2022 Numerator: Net earnings $ 80,482 $ 89,184 $ 130,454 $ 145,815 Denominator: Weighted average shares used to compute basic EPS 33,101 35,083 33,403 35,028 Dilutive potential common shares due to dilutive RSUs, net of tax effect 234 199 275 265 Dilutive potential common shares due to the Notes 2,516 1,539 2,413 1,608 Dilutive potential common shares due to the Warrants 1,188 — 1,032 — Weighted average shares used to compute diluted EPS 37,039 36,821 37,123 36,901 Net earnings per share: Basic $ 2.43 $ 2.54 $ 3.91 $ 4.16 Diluted $ 2.17 $ 2.42 $ 3.51 $ 3.95 For the three and six months ended June 30, 2023, 67,000 and 76,000, respectively, of our RSUs were excluded from the diluted EPS calculations because their inclusion would have been anti-dilutive. For the three and six months ended June 30, 2022, 38,000 and 26,000, respectively, of our RSUs were excluded from the diluted EPS calculations and certain potential outstanding shares from the warrants related to the Call Spread Transactions were excluded from the diluted EPS calculations because their inclusion would have been anti-dilutive.

Debt, Inventory Financing Facil

Debt, Inventory Financing Facilities, Finance Leases and Other Financing Obligations	6 Months Ended
	Jun. 30, 2023
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): June 30, December 31, ABL revolving credit facility $ 337,913 $ 291,599 Convertible senior notes due 2026 347,094 346,199 Finance leases and other financing obligations 58 102 Total 685,065 637,900 Less: current portion of long-term debt (347,115) (346,228) Long-term debt $ 337,950 $ 291,672 On July 22, 2022, we entered into the Third Amendment to the Credit Agreement (as amended, the "credit agreement") to modify our senior secured revolving credit facility (the “ABL facility”), increasing the maximum borrowing amount from $1,200,000,000 to $1,800,000,000, including a maximum borrowing capacity that could be used for borrowing in certain foreign currencies of $350,000,000 and extending the maturity date. 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 $750,000,000, 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 ABL facility now provides for an uncommitted first-in, last-out revolving facility in an aggregate amount of up to $100,000,000 . 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 now matures on July 22, 2027. As of June 30, 2023, eligible accounts receivable and inventory permitted availability of the full $1,800,000,000 facility amount, of which $337,913,000 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, 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 (the “market price trigger”); (2) during the five any five days 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 Notes 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. The Notes exceeded the market price trigger of $88.82 in the second quarter of 2023 and as such, the Notes are convertible at the option of the holders through September 30, 2023. All of the Notes remain outstanding at June 30, 2023. The notes are convertible at the option of the holders at June 30, 2023 and, if converted, 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 a current liability. 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 cash equal to the principal amount of the Notes, plus shares of our common stock 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 June 30, 2023, 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 June 30, 2023, no such events have occurred. The Notes consist of the following balances reported within the consolidated balance sheets (in thousands): June 30, December 31, Liability: Principal $ 350,000 $ 350,000 Less: debt issuance costs, net of accumulated amortization (2,906) (3,801) Net carrying amount $ 347,094 $ 346,199 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 1.62 years. The effective interest rate on the principal of the Notes is 0.75%. Interest expense resulting from the Notes reported within the consolidated statement of operations for the three and six months ended June 30, 2023 and 2022 is made up of contractual coupon interest and amortization of debt issuance costs. Convertible Note Hedge and Warrant Transaction In connection and concurrent 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 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. As of June 30, 2023, the Company transitioned the reference rate for invoices issued in U.S. Dollars under the PNC facility from LIBOR to the Term Secured Overnight Financing Rate ("Term SOFR") benchmark provisions. If balances are not paid within stated vendor terms (typically 60 days), 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 Term SOFR, EURIBOR, or SONIA, as applicable, plus 4.50% and 0.25% on the PNC (other than the Canada facility) and EMEA facilities, respectively. 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	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Our effective tax rates for the three and six months ended June 30, 2023 were 26.3% and 25.7%, 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. Our effective tax rates for the three and six months ended June 30, 2022 were 25.6% and 25.0%, 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 tax benefits related to research and development activities. As of June 30, 2023 and December 31, 2022, we had approximately $13,268,000 and $14,814,000, respectively, of unrecognized tax benefits. Of these amounts, approximately $1,667,000 and $1,642,000, respectively, related to accrued interest. During the three months ended June 30, 2023, we reduced our unrecognized tax benefits by $3,250,000 as a result of a recently concluded IRS audit. There was no net effect on income tax expense or our effective tax rate as a result of the audit. However in the future, if recognized, the remaining liability associated with uncertain tax positions could 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 2020. 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	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Share Repurchase Program	Share Repurchase Program On September 19, 2022, we announced that our Board of Directors had authorized the repurchase of up to $300,000,000 of our common stock, including $50,000,000 that remained available from our previous authorization. On May 18, 2023, we announced that our Board of Directors authorized the repurchase of up to $300,000,000 of our common stock, including $100,000,000 that remained available from our previous authorization. As of June 30, 2023, approximately $200,020,373 remained available for repurchases under our 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 June 30, 2023, we repurchased 720,175 shares of our common stock on the open market at a total cost of $99,980,000 (an average price of $138.83 per share). During the three months ended June 30, 2022, we did not repurchase any shares of our common stock.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
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 June 30, 2023, we had approximately $27,984,413 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 June 30, 2023. 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 June 30, 2023. 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 assumed responsibility for various litigation matters related to PCM’s acquisition of certain assets of En Pointe Technologies in 2015 (the “PCM Earnout Litigation”). The seller of En Pointe Technologies and related entities providing various post-closing support functions to PCM 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 rejected and vigorously responded to those claims and pursued various counterclaims. The PCM Earnout Litigation was being heard by multiple courts and arbitrators in several different jurisdictions including California, Delaware and Pakistan. In May 2023, the Company settled all claims related to the PCM Earnout Litigation and the parties began the process of dismissing each of the related claims and counterclaims in the various courts and jurisdictions. On July 14, 2023, the Company funded an escrow pursuant to which $10,550,000 would be paid to the plaintiffs over a period of 36 months beginning after all of the cases have been dismissed. The full amount of the settlement payment had been previously reserved. The Company is not involved in any pending or threatened legal proceedings, including the PCM Earnout Litigation, 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	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Segment Information	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, including cloud solutions. Our offerings in the remainder of our EMEA and APAC segments are largely software, 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 and six months ended June 30, 2023 and 2022 (in thousands): Three Months Ended June 30, 2023 North America EMEA APAC Consolidated Major Offerings Hardware $ 1,165,127 $ 132,220 $ 12,926 $ 1,310,273 Software 417,327 196,060 21,949 635,336 Services 314,712 63,446 25,829 403,987 $ 1,897,166 $ 391,726 $ 60,704 $ 2,349,596 Major Client Groups Large Enterprise / Corporate $ 1,321,876 $ 289,519 $ 26,849 $ 1,638,244 Commercial 359,750 3,609 18,138 381,497 Public Sector 215,540 98,598 15,717 329,855 $ 1,897,166 $ 391,726 $ 60,704 $ 2,349,596 Revenue Recognition based on acting as Principal or Agent in the Transaction Gross revenue recognition (Principal) $ 1,767,933 $ 352,085 $ 50,630 $ 2,170,648 Net revenue recognition (Agent) 129,233 39,641 10,074 178,948 $ 1,897,166 $ 391,726 $ 60,704 $ 2,349,596 Three Months Ended June 30, 2022 North America EMEA APAC Consolidated Major Offerings Hardware $ 1,559,474 $ 155,384 $ 16,258 $ 1,731,116 Software 377,007 212,997 28,122 618,126 Services 310,963 57,950 25,222 394,135 $ 2,247,444 $ 426,331 $ 69,602 $ 2,743,377 Major Client Groups Large Enterprise / Corporate $ 1,597,988 $ 306,389 $ 31,430 $ 1,935,807 Commercial 448,974 19,312 17,452 485,738 Public Sector 200,482 100,630 20,720 321,832 $ 2,247,444 $ 426,331 $ 69,602 $ 2,743,377 Revenue Recognition based on acting as Principal or Agent in the Transaction Gross revenue recognition (Principal) $ 2,126,656 $ 389,421 $ 58,927 $ 2,575,004 Net revenue recognition (Agent) 120,788 36,910 10,675 168,373 $ 2,247,444 $ 426,331 $ 69,602 $ 2,743,377 Six Months Ended June 30, 2023 North America EMEA APAC Consolidated Major Offerings Hardware $ 2,320,766 $ 295,110 $ 23,242 $ 2,639,118 Software 812,124 410,621 51,391 1,274,136 Services 598,240 112,999 49,050 760,289 $ 3,731,130 $ 818,730 $ 123,683 $ 4,673,543 Major Client Groups Large Enterprise / Corporate $ 2,615,409 $ 598,582 $ 48,251 $ 3,262,242 Commercial 731,775 8,399 35,163 775,337 Public Sector 383,946 211,749 40,269 635,964 $ 3,731,130 $ 818,730 $ 123,683 $ 4,673,543 Revenue Recognition based on acting as Principal or Agent in the Transaction Gross revenue recognition (Principal) $ 3,493,110 $ 753,428 $ 104,514 $ 4,351,052 Net revenue recognition (Agent) 238,020 65,302 19,169 322,491 $ 3,731,130 $ 818,730 $ 123,683 $ 4,673,543 Six Months Ended June 30, 2022 North America EMEA APAC Consolidated Major Offerings Hardware $ 3,010,793 $ 366,007 $ 27,904 $ 3,404,704 Software 718,554 485,399 50,872 1,254,825 Services 582,602 106,358 45,738 734,698 $ 4,311,949 $ 957,764 $ 124,514 $ 5,394,227 Major Client Groups Large Enterprise / Corporate $ 3,036,717 $ 660,293 $ 52,859 $ 3,749,869 Commercial 890,133 37,733 32,111 959,977 Public Sector 385,099 259,738 39,544 684,381 $ 4,311,949 $ 957,764 $ 124,514 $ 5,394,227 Revenue Recognition based on acting as Principal or Agent in the Transaction Gross revenue recognition (Principal) $ 4,097,577 $ 896,283 $ 105,945 $ 5,099,805 Net revenue recognition (Agent) 214,372 61,481 18,569 294,422 $ 4,311,949 $ 957,764 $ 124,514 $ 5,394,227 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 and six months ended June 30, 2023 or 2022. 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 June 30, 2023 North America EMEA APAC Consolidated Net sales: Products $ 1,582,454 $ 328,280 $ 34,875 $ 1,945,609 Services 314,712 63,446 25,829 403,987 Total net sales 1,897,166 391,726 60,704 2,349,596 Costs of goods sold: Products 1,416,637 301,240 31,571 1,749,448 Services 137,387 18,439 11,132 166,958 Total costs of goods sold 1,554,024 319,679 42,703 1,916,406 Gross profit 343,142 72,047 18,001 433,190 Operating expenses: Selling and administrative expenses 252,285 54,913 11,045 318,243 Severance and restructuring expenses (4,685) 867 48 (3,770) Acquisition and integration related expenses 106 — — 106 Earnings from operations $ 95,436 $ 16,267 $ 6,908 $ 118,611 Three Months Ended June 30, 2022 North America EMEA APAC Consolidated Net sales: Products $ 1,936,481 $ 368,381 $ 44,380 $ 2,349,242 Services 310,963 57,950 25,222 394,135 Total net sales 2,247,444 426,331 69,602 2,743,377 Costs of goods sold: Products 1,754,799 340,177 40,919 2,135,895 Services 142,379 16,607 10,607 169,593 Total costs of goods sold 1,897,178 356,784 51,526 2,305,488 Gross profit 350,266 69,547 18,076 437,889 Operating expenses: Selling and administrative expenses 243,868 51,372 10,761 306,001 Severance and restructuring expenses 485 207 — 692 Acquisition and integration related expenses $ 1,640 $ — $ — $ 1,640 Earnings from operations $ 104,273 $ 17,968 $ 7,315 $ 129,556 Six Months Ended June 30, 2023 North America EMEA APAC Consolidated Net sales: Products $ 3,132,890 $ 705,731 $ 74,633 $ 3,913,254 Services 598,240 112,999 49,050 760,289 Total net sales 3,731,130 818,730 123,683 4,673,543 Costs of goods sold: Products 2,804,599 648,873 68,705 3,522,177 Services 268,245 36,922 21,694 326,861 Total costs of goods sold 3,072,844 685,795 90,399 3,849,038 Gross profit 658,286 132,935 33,284 824,505 Operating expenses: Selling and administrative expenses 501,105 104,818 22,321 628,244 Severance and restructuring expenses (1,598) 1,569 61 32 Acquisition and integration related expenses 157 — — 157 Earnings from operations $ 158,622 $ 26,548 $ 10,902 $ 196,072 Six Months Ended June 30, 2022 North America EMEA APAC Consolidated Net sales: Products $ 3,729,347 $ 851,406 $ 78,776 $ 4,659,529 Services 582,602 106,358 45,738 734,698 Total net sales 4,311,949 957,764 124,514 5,394,227 Costs of goods sold: Products 3,380,574 789,809 72,721 4,243,104 Services 281,025 33,638 19,710 334,373 Total costs of goods sold 3,661,599 823,447 92,431 4,577,477 Gross profit 650,350 134,317 32,083 816,750 Operating expenses: Selling and administrative expenses 479,088 103,698 20,855 603,641 Severance and restructuring expenses 789 1,275 — 2,064 Acquisition and integration related expenses 1,640 — — 1,640 Earnings from operations $ 168,833 $ 29,344 $ 11,228 $ 209,405 The following is a summary of our total assets by reportable operating segment (in thousands): June 30, December 31, North America $ 5,418,822 $ 5,219,480 EMEA 1,216,362 939,327 APAC 209,790 153,232 Corporate assets and intercompany eliminations, net (1,302,643) (1,199,458) Total assets $ 5,542,331 $ 5,112,581 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 Six Months Ended 2023 2022 2023 2022 Depreciation and amortization of property and equipment: North America $ 5,495 $ 4,729 $ 11,143 $ 9,149 EMEA 603 668 1,199 1,475 APAC 102 154 211 316 6,200 5,551 12,553 10,940 Amortization of intangible assets: North America 7,766 7,356 15,551 14,704 EMEA 408 430 820 887 APAC 111 118 224 238 8,285 7,904 16,595 15,829 Total $ 14,485 $ 13,455 $ 29,148 $ 26,769

Acquisition

Acquisition	6 Months Ended
	Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Acquisition	Acquisition Effective June 1, 2022, we acquired 100 percent of the issued and outstanding shares of Hanu Software Solutions, Inc. and Hanu Software Solutions (India) Private Ltd. (collectively, “Hanu”) for a cash purchase price, net of cash and cash equivalents acquired, of approximately $90,106,000, including $15,307,000 attributed to an earn out agreement and including hold backs for representations and warranties of approximately $6,358,000 to be paid in future periods. We finalized the earn out and paid $10,748,000 in April 2023. Hanu, a global leading cloud technology services and solutions provider, provides cloud solutions in the areas of applications and infrastructure, data and artificial intelligence, and cloud security to clients. Hanu is recognized as one of Microsoft’s top public cloud service partners globally. We believe this acquisition strengthens our service capabilities as a cloud solutions provider and is also a strategic investment in expanding our presence in India. The fair value of net assets acquired was approximately $20,183,000, including $24,750,000 of identifiable intangible assets, consisting primarily of customer relationships that will be amortized using the straight line method over the estimated economic life of ten years. The purchase price was allocated using the information available. Goodwill acquired approximated $69,923,000 which was recorded in our North America operating segment. We finalized the

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net earnings	$ 80,482	$ 89,184	$ 130,454	$ 145,815

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation and Rec_2

Basis of Presentation and Recently Issued Accounting Standards (Policies)	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Recently Issued Accounting Standards	Recently Issued Accounting Standards In September 2022, the Financial Accounting Standards Board ("FASB") issued ASU No. 2022-04, “Liabilities - Supplier Finance Programs (Subtopic 405-50)”. This standard is intended to address requests from stakeholders for information about an entity’s use of supplier finance programs and their effect on the entity’s working capital, liquidity, and cash flows. The guidance was effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, except for the amendment on roll-forward information requirement, which is effective for fiscal years beginning after December 15, 2023. The Company adopted this standard effective January 1, 2023, with the exception of the roll-forward information requirement. The adoption did not have a material effect on the Company's disclosures. 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, 2022 that affect or may affect our current financial statements.

Receivables, Contract Liabili_2

Receivables, Contract Liabilities and Performance Obligations (Tables)	6 Months Ended
	Jun. 30, 2023
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 June 30, 2023 and December 31, 2022 (in thousands): June 30, December 31, Current receivables, which are included in “Accounts receivable, net” $ 3,666,077 $ 3,272,371 Non-current receivables, which are included in “Other assets” 163,567 161,837 Contract liabilities, which are included in “Accrued expenses and other current liabilities” and “Other liabilities” 113,030 102,057
Summary of Changes in Contract Liabilities from Contract with Customers	Changes in the contract liabilities balances during the six months ended June 30, 2023 are as follows (in thousands): Increase (Decrease) Contract Balances at December 31, 2022 $ 102,057 Reclassification of the beginning contract liabilities to revenue, as the result of performance obligations satisfied (43,949) Cash received in advance and not recognized as revenue 54,922 Balances at June 30, 2023 $ 113,030
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 June 30, 2023 that are expected to be recognized in the future (in thousands): Services Remainder of 2023 $ 65,593 2024 42,352 2025 18,051 2026 and thereafter 8,925 Total remaining performance obligations $ 134,921

Net Earnings Per Share (Tables)

Net Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Reconciliation of Denominators of Basic and Diluted EPS Calculations	A reconciliation of the denominators of the basic and diluted EPS calculations follows (in thousands, except per share data): Three Months Ended Six Months Ended 2023 2022 2023 2022 Numerator: Net earnings $ 80,482 $ 89,184 $ 130,454 $ 145,815 Denominator: Weighted average shares used to compute basic EPS 33,101 35,083 33,403 35,028 Dilutive potential common shares due to dilutive RSUs, net of tax effect 234 199 275 265 Dilutive potential common shares due to the Notes 2,516 1,539 2,413 1,608 Dilutive potential common shares due to the Warrants 1,188 — 1,032 — Weighted average shares used to compute diluted EPS 37,039 36,821 37,123 36,901 Net earnings per share: Basic $ 2.43 $ 2.54 $ 3.91 $ 4.16 Diluted $ 2.17 $ 2.42 $ 3.51 $ 3.95

Debt, Inventory Financing Fac_2

Debt, Inventory Financing Facilities, Finance Leases and Other Financing Obligations (Tables)	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Long-Term Debt	Our long-term debt consists of the following (in thousands): June 30, December 31, ABL revolving credit facility $ 337,913 $ 291,599 Convertible senior notes due 2026 347,094 346,199 Finance leases and other financing obligations 58 102 Total 685,065 637,900 Less: current portion of long-term debt (347,115) (346,228) Long-term debt $ 337,950 $ 291,672
Schedule of Convertible Senior Notes Balances	The Notes consist of the following balances reported within the consolidated balance sheets (in thousands): June 30, December 31, Liability: Principal $ 350,000 $ 350,000 Less: debt issuance costs, net of accumulated amortization (2,906) (3,801) Net carrying amount $ 347,094 $ 346,199

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2023
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 and six months ended June 30, 2023 and 2022 (in thousands): Three Months Ended June 30, 2023 North America EMEA APAC Consolidated Major Offerings Hardware $ 1,165,127 $ 132,220 $ 12,926 $ 1,310,273 Software 417,327 196,060 21,949 635,336 Services 314,712 63,446 25,829 403,987 $ 1,897,166 $ 391,726 $ 60,704 $ 2,349,596 Major Client Groups Large Enterprise / Corporate $ 1,321,876 $ 289,519 $ 26,849 $ 1,638,244 Commercial 359,750 3,609 18,138 381,497 Public Sector 215,540 98,598 15,717 329,855 $ 1,897,166 $ 391,726 $ 60,704 $ 2,349,596 Revenue Recognition based on acting as Principal or Agent in the Transaction Gross revenue recognition (Principal) $ 1,767,933 $ 352,085 $ 50,630 $ 2,170,648 Net revenue recognition (Agent) 129,233 39,641 10,074 178,948 $ 1,897,166 $ 391,726 $ 60,704 $ 2,349,596 Three Months Ended June 30, 2022 North America EMEA APAC Consolidated Major Offerings Hardware $ 1,559,474 $ 155,384 $ 16,258 $ 1,731,116 Software 377,007 212,997 28,122 618,126 Services 310,963 57,950 25,222 394,135 $ 2,247,444 $ 426,331 $ 69,602 $ 2,743,377 Major Client Groups Large Enterprise / Corporate $ 1,597,988 $ 306,389 $ 31,430 $ 1,935,807 Commercial 448,974 19,312 17,452 485,738 Public Sector 200,482 100,630 20,720 321,832 $ 2,247,444 $ 426,331 $ 69,602 $ 2,743,377 Revenue Recognition based on acting as Principal or Agent in the Transaction Gross revenue recognition (Principal) $ 2,126,656 $ 389,421 $ 58,927 $ 2,575,004 Net revenue recognition (Agent) 120,788 36,910 10,675 168,373 $ 2,247,444 $ 426,331 $ 69,602 $ 2,743,377 Six Months Ended June 30, 2023 North America EMEA APAC Consolidated Major Offerings Hardware $ 2,320,766 $ 295,110 $ 23,242 $ 2,639,118 Software 812,124 410,621 51,391 1,274,136 Services 598,240 112,999 49,050 760,289 $ 3,731,130 $ 818,730 $ 123,683 $ 4,673,543 Major Client Groups Large Enterprise / Corporate $ 2,615,409 $ 598,582 $ 48,251 $ 3,262,242 Commercial 731,775 8,399 35,163 775,337 Public Sector 383,946 211,749 40,269 635,964 $ 3,731,130 $ 818,730 $ 123,683 $ 4,673,543 Revenue Recognition based on acting as Principal or Agent in the Transaction Gross revenue recognition (Principal) $ 3,493,110 $ 753,428 $ 104,514 $ 4,351,052 Net revenue recognition (Agent) 238,020 65,302 19,169 322,491 $ 3,731,130 $ 818,730 $ 123,683 $ 4,673,543 Six Months Ended June 30, 2022 North America EMEA APAC Consolidated Major Offerings Hardware $ 3,010,793 $ 366,007 $ 27,904 $ 3,404,704 Software 718,554 485,399 50,872 1,254,825 Services 582,602 106,358 45,738 734,698 $ 4,311,949 $ 957,764 $ 124,514 $ 5,394,227 Major Client Groups Large Enterprise / Corporate $ 3,036,717 $ 660,293 $ 52,859 $ 3,749,869 Commercial 890,133 37,733 32,111 959,977 Public Sector 385,099 259,738 39,544 684,381 $ 4,311,949 $ 957,764 $ 124,514 $ 5,394,227 Revenue Recognition based on acting as Principal or Agent in the Transaction Gross revenue recognition (Principal) $ 4,097,577 $ 896,283 $ 105,945 $ 5,099,805 Net revenue recognition (Agent) 214,372 61,481 18,569 294,422 $ 4,311,949 $ 957,764 $ 124,514 $ 5,394,227
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 June 30, 2023 North America EMEA APAC Consolidated Net sales: Products $ 1,582,454 $ 328,280 $ 34,875 $ 1,945,609 Services 314,712 63,446 25,829 403,987 Total net sales 1,897,166 391,726 60,704 2,349,596 Costs of goods sold: Products 1,416,637 301,240 31,571 1,749,448 Services 137,387 18,439 11,132 166,958 Total costs of goods sold 1,554,024 319,679 42,703 1,916,406 Gross profit 343,142 72,047 18,001 433,190 Operating expenses: Selling and administrative expenses 252,285 54,913 11,045 318,243 Severance and restructuring expenses (4,685) 867 48 (3,770) Acquisition and integration related expenses 106 — — 106 Earnings from operations $ 95,436 $ 16,267 $ 6,908 $ 118,611 Three Months Ended June 30, 2022 North America EMEA APAC Consolidated Net sales: Products $ 1,936,481 $ 368,381 $ 44,380 $ 2,349,242 Services 310,963 57,950 25,222 394,135 Total net sales 2,247,444 426,331 69,602 2,743,377 Costs of goods sold: Products 1,754,799 340,177 40,919 2,135,895 Services 142,379 16,607 10,607 169,593 Total costs of goods sold 1,897,178 356,784 51,526 2,305,488 Gross profit 350,266 69,547 18,076 437,889 Operating expenses: Selling and administrative expenses 243,868 51,372 10,761 306,001 Severance and restructuring expenses 485 207 — 692 Acquisition and integration related expenses $ 1,640 $ — $ — $ 1,640 Earnings from operations $ 104,273 $ 17,968 $ 7,315 $ 129,556 Six Months Ended June 30, 2023 North America EMEA APAC Consolidated Net sales: Products $ 3,132,890 $ 705,731 $ 74,633 $ 3,913,254 Services 598,240 112,999 49,050 760,289 Total net sales 3,731,130 818,730 123,683 4,673,543 Costs of goods sold: Products 2,804,599 648,873 68,705 3,522,177 Services 268,245 36,922 21,694 326,861 Total costs of goods sold 3,072,844 685,795 90,399 3,849,038 Gross profit 658,286 132,935 33,284 824,505 Operating expenses: Selling and administrative expenses 501,105 104,818 22,321 628,244 Severance and restructuring expenses (1,598) 1,569 61 32 Acquisition and integration related expenses 157 — — 157 Earnings from operations $ 158,622 $ 26,548 $ 10,902 $ 196,072 Six Months Ended June 30, 2022 North America EMEA APAC Consolidated Net sales: Products $ 3,729,347 $ 851,406 $ 78,776 $ 4,659,529 Services 582,602 106,358 45,738 734,698 Total net sales 4,311,949 957,764 124,514 5,394,227 Costs of goods sold: Products 3,380,574 789,809 72,721 4,243,104 Services 281,025 33,638 19,710 334,373 Total costs of goods sold 3,661,599 823,447 92,431 4,577,477 Gross profit 650,350 134,317 32,083 816,750 Operating expenses: Selling and administrative expenses 479,088 103,698 20,855 603,641 Severance and restructuring expenses 789 1,275 — 2,064 Acquisition and integration related expenses 1,640 — — 1,640 Earnings from operations $ 168,833 $ 29,344 $ 11,228 $ 209,405
Summary of Total Assets by Reportable Operating Segment	The following is a summary of our total assets by reportable operating segment (in thousands): June 30, December 31, North America $ 5,418,822 $ 5,219,480 EMEA 1,216,362 939,327 APAC 209,790 153,232 Corporate assets and intercompany eliminations, net (1,302,643) (1,199,458) Total assets $ 5,542,331 $ 5,112,581
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 Six Months Ended 2023 2022 2023 2022 Depreciation and amortization of property and equipment: North America $ 5,495 $ 4,729 $ 11,143 $ 9,149 EMEA 603 668 1,199 1,475 APAC 102 154 211 316 6,200 5,551 12,553 10,940 Amortization of intangible assets: North America 7,766 7,356 15,551 14,704 EMEA 408 430 820 887 APAC 111 118 224 238 8,285 7,904 16,595 15,829 Total $ 14,485 $ 13,455 $ 29,148 $ 26,769

Basis of Presentation and Rec_3

Basis of Presentation and Recently Issued Accounting Standards - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2023 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments	3

Receivables, Contract Liabili_3

Receivables, Contract Liabilities and Performance Obligations - Summary of Information about Receivables and Contract Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Current receivables, which are included in “Accounts receivable, net”	$ 3,666,077	$ 3,272,371
Contract liabilities, which are included in “Accrued expenses and other current liabilities” and “Other liabilities”	113,030	102,057
Accounts Receivable, Net
Disaggregation of Revenue [Line Items]
Current receivables, which are included in “Accounts receivable, net”	3,666,077	3,272,371
Other Assets
Disaggregation of Revenue [Line Items]
Non-current receivables, which are included in “Other assets”	163,567	161,837
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”	$ 113,030	$ 102,057

Receivables, Contract Liabili_4

Receivables, Contract Liabilities and Performance Obligations - Summary of Changes in Contract Liabilities from Contract with Customers (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($)
Contract with Customer, Contract Asset, Contract Liability, and Receivable Increase (Decrease) [Roll Forward]
Beginning balance	$ 102,057
Reclassification of the beginning contract liabilities to revenue, as the result of performance obligations satisfied	(43,949)
Cash received in advance and not recognized as revenue	54,922
Ending balance	$ 113,030

Receivables, Contract Liabili_5

Receivables, Contract Liabilities and Performance Obligations - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Contract with customer, liability, revenue recognized		$ 55,380,000
Time and material contracts expected duration	22 months

Receivables, Contract Liabili_6

Receivables, Contract Liabilities and Performance Obligations - Summary of Estimated Net Sales Related to Performance Obligation (Detail) - Services $ in Thousands	Jun. 30, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total remaining performance obligations	$ 134,921
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2023-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total remaining performance obligations	$ 65,593
Remaining performance obligation, expected timing of satisfaction period	6 months
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	$ 42,352
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	$ 18,051
Remaining performance obligation, expected timing of satisfaction period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total remaining performance obligations	$ 8,925
Remaining performance obligation, expected timing of satisfaction period	1 year

Assets Held for Sale - Addition

Assets Held for Sale - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023
Property, Plant and Equipment Assets Held-for-Sale Disclosure [Abstract]
Proceeds from sale of property held-for-sale	$ 15,476	$ 15,476
Gain (loss) on sale of properties	$ 7,623	$ 7,623

Net Earnings Per Share - Reconc

Net Earnings Per Share - Reconciliation of Denominators of Basic and Diluted EPS Calculations (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Numerator:
Net earnings	$ 80,482	$ 89,184	$ 130,454	$ 145,815
Denominator:
Weighted average shares used to compute basic EPS (in shares)	33,101	35,083	33,403	35,028
Dilutive potential common shares due to dilutive RSUs, net of tax effect (in shares)	234	199	275	265
Dilutive potential common shares due to the Warrants (in shares)	1,188	0	1,032	0
Weighted average shares used to compute diluted EPS (in shares)	37,039	36,821	37,123	36,901
Net earnings per share:
Basic (in usd per share)	$ 2.43	$ 2.54	$ 3.91	$ 4.16
Diluted (in usd per share)	$ 2.17	$ 2.42	$ 3.51	$ 3.95
Notes
Denominator:
Dilutive potential common shares due to the Notes (in shares)	2,516	1,539	2,413	1,608

Net Earnings Per Share - Additi

Net Earnings Per Share - Additional Information (Detail) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Restricted Stock Units (RSUs)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
RSUs excluded from the diluted EPS calculations (in shares)	67	38	76	26

Debt, Inventory Financing Fac_3

Debt, Inventory Financing Facilities, Finance Leases and Other Financing Obligations - Long-Term Debt (Detail) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Finance leases and other financing obligations	$ 58,000	$ 102,000
Total	685,065,000	637,900,000
Less: current portion of long-term debt	(347,115,000)	(346,228,000)
Long-term debt	337,950,000	291,672,000
Convertible Senior Notes
Debt Instrument [Line Items]
Convertible senior notes due 2026	347,094,000	346,199,000
ABL Facility
Debt Instrument [Line Items]
ABL revolving credit facility	$ 337,913,000	$ 291,599,000

Debt, Inventory Financing Fac_4

Debt, Inventory Financing Facilities, Finance Leases and Other Financing Obligations - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2023 USD ($) shares d $ / shares	Dec. 31, 2022 USD ($)	Jul. 22, 2022 USD ($)	Jul. 21, 2022 USD ($)	Dec. 31, 2021 USD ($)	Aug. 31, 2019 USD ($)
Debt Instrument [Line Items]
Accounts payable-inventory financing facility	$ 333,096,000	$ 301,314,000
ABL Facility
Debt Instrument [Line Items]
Amount of facility permitted by qualified receivables	1,800,000,000
Line of credit outstanding amount	337,913,000	291,599,000
Inventory Financing Facility
Debt Instrument [Line Items]
Inventory financing facility maximum borrowing capacity	705,000,000
Accounts payable-inventory financing facility	333,096,000
Third Amendment to Credit Agreement | ABL Facility
Debt Instrument [Line Items]
Credit facility, borrowing capacity			$ 1,800,000,000	$ 1,200,000,000
Foreign Currency Borrowings | ABL Facility
Debt Instrument [Line Items]
Credit facility, borrowing capacity			$ 350,000,000
First-In, Last-Out Revolving Facility | ABL Facility
Debt Instrument [Line Items]
Credit facility, borrowing capacity	100,000,000
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%
Principal amount per note used in conversion rate	$ 1,000
Conversion price per share (in usd per share) | $ / shares	$ 88.82
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%
Shares issuable upon conversion of debt (in shares) | shares	6,788,208
Notes, remaining accretion period of debt discount and issuance cost	1 year 7 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%
Convertible Senior Notes | Scenario Two
Debt Instrument [Line Items]
Percentage of last reported sale price to conversion price on each applicable trading day	98%
Measurement period	5 days
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%
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%
Canada Facility | Unsecured Inventory Financing Facility
Debt Instrument [Line Items]
Inventory financing facility maximum borrowing capacity		25,000,000
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	$ 750,000,000
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 ($)	Jun. 30, 2023	Dec. 31, 2022	Aug. 31, 2019
Liability:
Principal	$ 350,000,000	$ 350,000,000	$ 350,000,000
Less: debt issuance costs, net of accumulated amortization	(2,906,000)	(3,801,000)
Net carrying amount	$ 347,094,000	$ 346,199,000

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Income Tax Contingency [Line Items]
Effective tax rate	26.30%	25.60%	25.70%	25%
United States federal statutory income tax rate			21%	21%
Unrecognized tax benefits	$ 13,268		$ 13,268		$ 14,814
Unrecognized tax benefits, interest on income taxes accrued	1,667		$ 1,667		$ 1,642
Internal Revenue Service (IRS)
Income Tax Contingency [Line Items]
Unrecognized tax benefits, decrease resulting from settlements with taxing authorities	$ 3,250

Share Repurchase Program - Addi

Share Repurchase Program - Additional Information (Detail) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023	May 18, 2023	Sep. 19, 2022	May 06, 2021
Equity, Class of Treasury Stock [Line Items]
Common stock repurchase program, number of shares repurchased (in shares)	720,175	1,633,620
Repurchase program, approximate dollar value of shares purchased	$ 99,980,000	$ 217,108,000
Repurchase program, average price paid per share (in usd per share)	$ 138.83	$ 132.90
September 14, 2022 Stock Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Common stock repurchase program, authorized amount				$ 300,000,000
Common stock repurchase program, authorized remaining amount	$ 200,020,373	$ 200,020,373		$ 50,000,000
May 6, 2021 Stock Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Common stock repurchase program, authorized amount			$ 300,000,000
Common stock repurchase program, authorized remaining amount					$ 100,000,000

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($)		6 Months Ended
	Jul. 14, 2023	Jun. 30, 2023
Subsequent Event | PCM Earnout Litigation
Commitments And Contingencies [Line Items]
Litigation settlement, amount awarded to other party	$ 10,550,000
Surety Bond
Commitments And Contingencies [Line Items]
Performance bonds outstanding		$ 27,984,413
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)	6 Months Ended
	Jun. 30, 2023 segment
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		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Disaggregation of revenue	$ 2,349,596	$ 2,743,377	$ 4,673,543	$ 5,394,227
Gross revenue recognition (Principal)
Segment Reporting Information [Line Items]
Disaggregation of revenue	2,170,648	2,575,004	4,351,052	5,099,805
Net revenue recognition (Agent)
Segment Reporting Information [Line Items]
Disaggregation of revenue	178,948	168,373	322,491	294,422
North America
Segment Reporting Information [Line Items]
Disaggregation of revenue	1,897,166	2,247,444	3,731,130	4,311,949
North America | Gross revenue recognition (Principal)
Segment Reporting Information [Line Items]
Disaggregation of revenue	1,767,933	2,126,656	3,493,110	4,097,577
North America | Net revenue recognition (Agent)
Segment Reporting Information [Line Items]
Disaggregation of revenue	129,233	120,788	238,020	214,372
EMEA
Segment Reporting Information [Line Items]
Disaggregation of revenue	391,726	426,331	818,730	957,764
EMEA | Gross revenue recognition (Principal)
Segment Reporting Information [Line Items]
Disaggregation of revenue	352,085	389,421	753,428	896,283
EMEA | Net revenue recognition (Agent)
Segment Reporting Information [Line Items]
Disaggregation of revenue	39,641	36,910	65,302	61,481
APAC
Segment Reporting Information [Line Items]
Disaggregation of revenue	60,704	69,602	123,683	124,514
APAC | Gross revenue recognition (Principal)
Segment Reporting Information [Line Items]
Disaggregation of revenue	50,630	58,927	104,514	105,945
APAC | Net revenue recognition (Agent)
Segment Reporting Information [Line Items]
Disaggregation of revenue	10,074	10,675	19,169	18,569
Large Enterprise / Corporate
Segment Reporting Information [Line Items]
Disaggregation of revenue	1,638,244	1,935,807	3,262,242	3,749,869
Large Enterprise / Corporate | North America
Segment Reporting Information [Line Items]
Disaggregation of revenue	1,321,876	1,597,988	2,615,409	3,036,717
Large Enterprise / Corporate | EMEA
Segment Reporting Information [Line Items]
Disaggregation of revenue	289,519	306,389	598,582	660,293
Large Enterprise / Corporate | APAC
Segment Reporting Information [Line Items]
Disaggregation of revenue	26,849	31,430	48,251	52,859
Commercial
Segment Reporting Information [Line Items]
Disaggregation of revenue	381,497	485,738	775,337	959,977
Commercial | North America
Segment Reporting Information [Line Items]
Disaggregation of revenue	359,750	448,974	731,775	890,133
Commercial | EMEA
Segment Reporting Information [Line Items]
Disaggregation of revenue	3,609	19,312	8,399	37,733
Commercial | APAC
Segment Reporting Information [Line Items]
Disaggregation of revenue	18,138	17,452	35,163	32,111
Public Sector
Segment Reporting Information [Line Items]
Disaggregation of revenue	329,855	321,832	635,964	684,381
Public Sector | North America
Segment Reporting Information [Line Items]
Disaggregation of revenue	215,540	200,482	383,946	385,099
Public Sector | EMEA
Segment Reporting Information [Line Items]
Disaggregation of revenue	98,598	100,630	211,749	259,738
Public Sector | APAC
Segment Reporting Information [Line Items]
Disaggregation of revenue	15,717	20,720	40,269	39,544
Hardware
Segment Reporting Information [Line Items]
Disaggregation of revenue	1,310,273	1,731,116	2,639,118	3,404,704
Hardware | North America
Segment Reporting Information [Line Items]
Disaggregation of revenue	1,165,127	1,559,474	2,320,766	3,010,793
Hardware | EMEA
Segment Reporting Information [Line Items]
Disaggregation of revenue	132,220	155,384	295,110	366,007
Hardware | APAC
Segment Reporting Information [Line Items]
Disaggregation of revenue	12,926	16,258	23,242	27,904
Software
Segment Reporting Information [Line Items]
Disaggregation of revenue	635,336	618,126	1,274,136	1,254,825
Software | North America
Segment Reporting Information [Line Items]
Disaggregation of revenue	417,327	377,007	812,124	718,554
Software | EMEA
Segment Reporting Information [Line Items]
Disaggregation of revenue	196,060	212,997	410,621	485,399
Software | APAC
Segment Reporting Information [Line Items]
Disaggregation of revenue	21,949	28,122	51,391	50,872
Services
Segment Reporting Information [Line Items]
Disaggregation of revenue	403,987	394,135	760,289	734,698
Services | North America
Segment Reporting Information [Line Items]
Disaggregation of revenue	314,712	310,963	598,240	582,602
Services | EMEA
Segment Reporting Information [Line Items]
Disaggregation of revenue	63,446	57,950	112,999	106,358
Services | APAC
Segment Reporting Information [Line Items]
Disaggregation of revenue	$ 25,829	$ 25,222	$ 49,050	$ 45,738

Segment Information - Financial

Segment Information - Financial Information about Reportable Operating Segments (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Total net sales	$ 2,349,596	$ 2,743,377	$ 4,673,543	$ 5,394,227
Total costs of goods sold	1,916,406	2,305,488	3,849,038	4,577,477
Gross profit	433,190	437,889	824,505	816,750
Operating expenses:
Selling and administrative expenses	318,243	306,001	628,244	603,641
Severance and restructuring expenses	(3,770)	692	32	2,064
Acquisition and integration related expenses	106	1,640	157	1,640
Earnings from operations	118,611	129,556	196,072	209,405
Products
Segment Reporting Information [Line Items]
Total net sales	1,945,609	2,349,242	3,913,254	4,659,529
Total costs of goods sold	1,749,448	2,135,895	3,522,177	4,243,104
Gross profit	196,161	213,347	391,077	416,425
Services
Segment Reporting Information [Line Items]
Total net sales	403,987	394,135	760,289	734,698
Total costs of goods sold	166,958	169,593	326,861	334,373
Gross profit	237,029	224,542	433,428	400,325
North America
Segment Reporting Information [Line Items]
Total net sales	1,897,166	2,247,444	3,731,130	4,311,949
Total costs of goods sold	1,554,024	1,897,178	3,072,844	3,661,599
Gross profit	343,142	350,266	658,286	650,350
Operating expenses:
Selling and administrative expenses	252,285	243,868	501,105	479,088
Severance and restructuring expenses	(4,685)	485	(1,598)	789
Acquisition and integration related expenses	106	1,640	157	1,640
Earnings from operations	95,436	104,273	158,622	168,833
North America | Products
Segment Reporting Information [Line Items]
Total net sales	1,582,454	1,936,481	3,132,890	3,729,347
Total costs of goods sold	1,416,637	1,754,799	2,804,599	3,380,574
North America | Services
Segment Reporting Information [Line Items]
Total net sales	314,712	310,963	598,240	582,602
Total costs of goods sold	137,387	142,379	268,245	281,025
EMEA
Segment Reporting Information [Line Items]
Total net sales	391,726	426,331	818,730	957,764
Total costs of goods sold	319,679	356,784	685,795	823,447
Gross profit	72,047	69,547	132,935	134,317
Operating expenses:
Selling and administrative expenses	54,913	51,372	104,818	103,698
Severance and restructuring expenses	867	207	1,569	1,275
Acquisition and integration related expenses	0	0	0	0
Earnings from operations	16,267	17,968	26,548	29,344
EMEA | Products
Segment Reporting Information [Line Items]
Total net sales	328,280	368,381	705,731	851,406
Total costs of goods sold	301,240	340,177	648,873	789,809
EMEA | Services
Segment Reporting Information [Line Items]
Total net sales	63,446	57,950	112,999	106,358
Total costs of goods sold	18,439	16,607	36,922	33,638
APAC
Segment Reporting Information [Line Items]
Total net sales	60,704	69,602	123,683	124,514
Total costs of goods sold	42,703	51,526	90,399	92,431
Gross profit	18,001	18,076	33,284	32,083
Operating expenses:
Selling and administrative expenses	11,045	10,761	22,321	20,855
Severance and restructuring expenses	48	0	61	0
Acquisition and integration related expenses	0	0	0	0
Earnings from operations	6,908	7,315	10,902	11,228
APAC | Products
Segment Reporting Information [Line Items]
Total net sales	34,875	44,380	74,633	78,776
Total costs of goods sold	31,571	40,919	68,705	72,721
APAC | Services
Segment Reporting Information [Line Items]
Total net sales	25,829	25,222	49,050	45,738
Total costs of goods sold	$ 11,132	$ 10,607	$ 21,694	$ 19,710

Segment Information - Summary_2

Segment Information - Summary of Total Assets by Reportable Operating Segment (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 5,542,331	$ 5,112,581
Operating Segments | North America
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	5,418,822	5,219,480
Operating Segments | EMEA
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	1,216,362	939,327
Operating Segments | APAC
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	209,790	153,232
Intersegment Eliminations
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ (1,302,643)	$ (1,199,458)

Segment Information - Pre-Tax D

Segment Information - Pre-Tax Depreciation and Amortization by Operating Segment (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Depreciation and amortization of property and equipment	$ 6,200	$ 5,551	$ 12,553	$ 10,940
Amortization of intangible assets	8,285	7,904	16,595	15,829
Depreciation and amortization, total	14,485	13,455	29,148	26,769
North America
Segment Reporting Information [Line Items]
Depreciation and amortization of property and equipment	5,495	4,729	11,143	9,149
Amortization of intangible assets	7,766	7,356	15,551	14,704
EMEA
Segment Reporting Information [Line Items]
Depreciation and amortization of property and equipment	603	668	1,199	1,475
Amortization of intangible assets	408	430	820	887
APAC
Segment Reporting Information [Line Items]
Depreciation and amortization of property and equipment	102	154	211	316
Amortization of intangible assets	$ 111	$ 118	$ 224	$ 238

Acquisition (Details)

Acquisition (Details) - USD ($) $ in Thousands		1 Months Ended	6 Months Ended
	Jun. 01, 2022	Apr. 30, 2023	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Business Acquisition [Line Items]
Payment for earnout			$ 10,748	$ 0
Goodwill			$ 494,979		$ 493,033
Hanu
Business Acquisition [Line Items]
Business combination acquired percentage	100%
Cash paid to acquire business	$ 90,106
Holdbacks for representations and warranties	6,358
Payment for earnout		$ 10,748
Net assets acquired	20,183
Intangible assets acquired	24,750
Goodwill	$ 69,923
Hanu | Customer Relationships
Business Acquisition [Line Items]
Finite-lived intangible asset, useful life	10 years
Hanu | Maximum
Business Acquisition [Line Items]
Maximum earnout	$ 15,307

Uncategorized Items - nsit-2023

Label	Element	Value
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2020-06 [Member]