Insight Enterprises (NSIT) 10-Q 1 Aug 24 2024 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2024	Jul. 26, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
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		32,586,228
Entity Central Index Key	0000932696
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 256,307	$ 268,730
Accounts receivable, net of allowance for doubtful accounts of $28,397 and $12,623, respectively	4,143,400	3,568,290
Inventories	145,456	184,605
Contract assets, net	89,179	120,518
Other current assets	265,141	189,158
Total current assets	4,899,483	4,331,301
Long-term contract assets, net	119,332	132,780
Property and equipment, net of accumulated depreciation and amortization of $220,600 and $219,591, respectively	211,852	210,061
Goodwill	872,785	684,345
Intangible assets, net of accumulated amortization of $207,112 and $175,463, respectively	460,809	369,687
Long-term accounts receivable	648,162	412,666
Other assets	140,390	145,510
Total assets	7,352,813	6,286,350
Current liabilities:
Accounts payable—trade	2,973,317	2,255,183
Accounts payable—inventory financing facilities	218,553	231,850
Accrued expenses and other current liabilities	487,556	538,346
Current portion of long-term debt	331,997	348,004
Total current liabilities	4,011,423	3,373,383
Long-term debt	663,075	592,517
Deferred income taxes	52,357	27,588
Long-term accounts payable	608,298	353,794
Other liabilities	170,115	203,335
Total liabilities	5,505,268	4,550,617
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; 32,584 shares at June 30, 2024 and $32,590 shares at December 31, 2023 issued and outstanding	326	326
Additional paid-in capital	334,573	328,607
Retained earnings	1,569,774	1,448,412
Accumulated other comprehensive loss – foreign currency translation adjustments	(57,128)	(41,612)
Total stockholders’ equity	1,847,545	1,735,733
Total liabilities and stockholders' equity	$ 7,352,813	$ 6,286,350

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Allowance for doubtful accounts receivable	$ 28,397	$ 12,623
Accumulated depreciation and amortization of property and equipment	220,600	219,591
Accumulated amortization of intangible assets	$ 207,112	$ 175,463
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)	32,584,000	32,590,000
Common stock, shares outstanding (in shares)	32,584,000	32,590,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Net sales:
Total net sales	$ 2,161,662	$ 2,349,596	$ 4,541,147	$ 4,673,543
Costs of goods sold:
Total costs of goods sold	1,708,297	1,916,406	3,646,854	3,849,038
Gross profit	453,365	433,190	894,293	824,505
Operating expenses:
Selling and administrative expenses	317,234	318,243	654,668	628,244
Severance and restructuring expenses, net	4,868	(3,770)	7,095	32
Acquisition and integration related expenses	190	106	1,471	157
Earnings from operations	131,073	118,611	231,059	196,072
Non-operating expense (income):
Interest expense, net	14,190	9,405	26,747	19,753
Other (income) expense, net	(469)	(60)	(1,232)	692
Earnings before income taxes	117,352	109,266	205,544	175,627
Income tax expense	29,908	28,784	51,073	45,173
Net earnings	$ 87,444	$ 80,482	$ 154,471	$ 130,454
Net earnings per share:
Basic (in usd per share)	$ 2.69	$ 2.43	$ 4.74	$ 3.91
Diluted (in usd per share)	$ 2.27	$ 2.17	$ 4.01	$ 3.51
Shares used in per share calculations:
Basic (in shares)	32,565	33,101	32,580	33,403
Diluted (in shares)	38,567	37,039	38,501	37,123
Products
Net sales:
Total net sales	$ 1,726,435	$ 1,945,609	$ 3,690,390	$ 3,913,254
Costs of goods sold:
Total costs of goods sold	1,536,270	1,749,448	3,307,854	3,522,177
Gross profit	190,165	196,161	382,536	391,077
Services
Net sales:
Total net sales	435,227	403,987	850,757	760,289
Costs of goods sold:
Total costs of goods sold	172,027	166,958	339,000	326,861
Gross profit	$ 263,200	$ 237,029	$ 511,757	$ 433,428

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net earnings	$ 87,444	$ 80,482	$ 154,471	$ 130,454
Other comprehensive (loss) gain, net of tax:
Foreign currency translation adjustments	(3,425)	7,189	(15,516)	11,795
Total comprehensive income	$ 84,019	$ 87,671	$ 138,955	$ 142,249

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Treasury Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Retained Earnings
Common stock, beginning balance (in shares) at Dec. 31, 2022		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
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
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 Dec. 31, 2023	32,590	32,590
Treasury stock, beginning balance (in shares) at Dec. 31, 2023			0
Beginning balance at Dec. 31, 2023	$ 1,735,733	$ 326	$ 0	328,607	(41,612)	1,448,412
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under employee stock plans, net of shares withheld for payroll taxes (in shares)		170
Issuance of common stock under employee stock plans, net of shares withheld for payroll taxes	(11,010)	$ 2		(11,012)
Stock-based compensation expense	16,900			16,900
Employee stock purchase plan issuances (in shares)		11
Employee stock purchase plan issuances	2,000			2,000
Shares issued upon conversion of Convertible Notes (in shares)		141
Shares issued upon conversion of Convertible Notes	0	$ 1		(1)
Shares received from convertible note hedge upon conversion of Notes (in shares)		(141)
Shares received from convertible note hedge upon conversion of Convertible Notes	0	$ (1)		1
Repurchase of treasury stock (in shares)			(187)
Repurchase of treasury stock	(35,000)		$ (35,000)
Retirement of treasury stock (in shares)		(187)	187
Retirement of treasury stock	0	$ (2)	$ 35,000	(1,889)		(33,109)
Excise tax on stock repurchases	(33)			(33)
Foreign currency translation adjustments, net of tax	(15,516)				(15,516)
Net earnings	$ 154,471					154,471
Common stock, ending balance (in shares) at Jun. 30, 2024	32,584	32,584
Treasury stock, ending balance (in shares) at Jun. 30, 2024			0
Ending balance at Jun. 30, 2024	$ 1,847,545	$ 326	$ 0	334,573	(57,128)	1,569,774
Common stock, beginning balance (in shares) at Mar. 31, 2024		32,548
Treasury stock, beginning balance (in shares) at Mar. 31, 2024			0
Beginning balance at Mar. 31, 2024	1,755,491	$ 325	$ 0	326,539	(53,703)	1,482,330
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under employee stock plans, net of shares withheld for payroll taxes (in shares)		30
Issuance of common stock under employee stock plans, net of shares withheld for payroll taxes	(1,970)	$ 1		(1,971)
Stock-based compensation expense	8,857			8,857
Employee stock purchase plan issuances (in shares)		6
Employee stock purchase plan issuances	1,088			1,088
Excise tax on stock repurchases	60			60
Foreign currency translation adjustments, net of tax	(3,425)				(3,425)
Net earnings	$ 87,444					87,444
Common stock, ending balance (in shares) at Jun. 30, 2024	32,584	32,584
Treasury stock, ending balance (in shares) at Jun. 30, 2024			0
Ending balance at Jun. 30, 2024	$ 1,847,545	$ 326	$ 0	$ 334,573	$ (57,128)	$ 1,569,774

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net earnings	$ 154,471	$ 130,454
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	46,451	29,148
Provision for losses on accounts receivable	5,196	2,585
Provision for losses on contract assets	3,038	0
Non-cash stock-based compensation	16,900	16,663
Deferred income taxes	(3,535)	(1,231)
Amortization of debt issuance costs	2,590	2,430
Gain on revaluation of earnout liabilities	(24,207)	0
Other adjustments	(289)	(2,801)
Changes in assets and liabilities:
Increase in accounts receivable	(598,219)	(368,612)
Decrease in inventories	34,366	14,596
Decrease in contract assets	42,911	1,570
(Increase) decrease in long-term accounts receivable	(235,690)	12,704
Increase in other assets	(52,087)	(49,151)
Increase in accounts payable	734,222	420,349
Increase (decrease) in long-term accounts payable	237,652	(10,251)
Decrease in accrued expenses and other liabilities	(70,806)	(10,493)
Net cash provided by operating activities:	292,964	187,960
Cash flows from investing activities:
Proceeds from sale of assets	3,970	15,515
Purchases of property and equipment	(18,644)	(13,202)
Acquisitions, net of cash and cash equivalents acquired	(264,374)	0
Net cash (used in) provided by investing activities:	(279,048)	2,313
Cash flows from financing activities:
Net (repayments) borrowings under inventory financing facilities	(12,987)	30,848
Proceeds from issuance of senior unsecured notes	500,000	0
Payment of debt issuance costs	(7,854)	0
Repurchases of common stock	(35,000)	(217,108)
Repayment of principal on the Convertible Notes	(16,895)	0
Earnout and acquisition related payments	(18,296)	(10,748)
Other payments	(9,147)	(9,161)
Net cash used in financing activities:	(20,623)	(161,059)
Foreign currency exchange effect on cash, cash equivalents and restricted cash balances	(5,728)	3,050
(Decrease) increase in cash, cash equivalents and restricted cash	(12,435)	32,264
Cash, cash equivalents and restricted cash at beginning of period	270,785	165,718
Cash, cash equivalents and restricted cash at end of period	258,350	197,982
ABL revolving credit facility
Cash flows from financing activities:
Borrowings on ABL revolving credit facility	2,451,966	2,259,356
Repayments on ABL revolving credit facility	$ (2,872,410)	$ (2,214,246)

Basis of Presentation and Recen

Basis of Presentation and Recently Issued Accounting Standards	6 Months Ended
	Jun. 30, 2024
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 businesses 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 36 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 in multiple ways. 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 consist largely of 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 June 30, 2024 and our results of operations for the three and six months ended June 30, 2024 and 2023 and cash flows for the six months ended June 30, 2024 and 2023. The consolidated balance sheet as of December 31, 2023 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, 2023. 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, valuation of acquired assets and assumed liabilities, including intangible assets and goodwill and impairment of long-lived assets, including purchased intangibles and goodwill, if indicators of potential impairment exist. Recently Issued Accounting Standards In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update ("ASU") No. 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures", which requires public entities to disclose information about their reportable segments' significant expenses on an interim and annual basis. The amendments aim to improve interim disclosure requirements, clarify situations where an entity can reveal multiple segment measures of profit or loss, provide new segment disclosure requirements for entities with a single reportable segment, and include other disclosure requirements. The main objective of the amendments is to assist investors in understanding the entity's overall performance and evaluate potential future cash flows. The guidance is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024 with early adoption being permitted. We did not early adopt this guidance. The updated guidance is not expected to have a material effect on the Company's consolidated financial statements or 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, 2023 that affect or may affect our current financial statements.

Receivables, Contract Liabiliti

Receivables, Contract Liabilities and Performance Obligations	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Receivables, Contract Liabilities and Performance Obligations	Receivables, Contract Liabilities and Performance Obligations Contract Balances The following table provides information about receivables and contract liabilities as of June 30, 2024 and December 31, 2023 (in thousands): June 30, December 31, Current receivables, which are included in “Accounts receivable, net” $ 4,143,400 $ 3,568,290 Contract assets, net 89,179 120,518 Long-term accounts receivable 648,162 412,666 Long-term contract assets, net 119,332 132,780 Contract liabilities, which are included in “Accrued expenses and other current liabilities” and “Other liabilities” 113,507 107,217 Significant changes in the gross contract assets balances during the six months ended June 30, 2024 are as follows (in thousands): Contract Balances at December 31, 2023 $ 272,287 Reclassification of beginning contract assets to receivables, as a result of rights to consideration becoming unconditional (59,355) Contract assets recognized, net of reclassification to receivables 16,893 Measurement period adjustments to acquired contract assets (4,839) Balances at June 30, 2024 $ 224,986 Contract assets consist of amounts the Company is entitled to for the resale of third-party consumption-based services, prior to payment becoming unconditional. In these transactions, the Company invoices clients for the gross amount of consideration it is responsible to collect, including amounts ultimately passed on to the third-party service providers. As of June 30, 2024, contract assets, net of allowances, were $208,511,000. Gross contract assets by our internal risk ratings as of June 30, 2024 are summarized as follows (in thousands): Contract assets Low risk $ 36,506 Moderate risk 53,713 High risk 134,767 Total contract assets $ 224,986 Changes in the contract liabilities balances during the six months ended June 30, 2024 are as follows (in thousands): Contract Balances at December 31, 2023 $ 107,217 Reclassification of the beginning contract liabilities to revenue, as the result of performance obligations satisfied (55,476) Cash received in advance and not recognized as revenue 61,766 Balances at June 30, 2024 $ 113,507 During the six months ended June 30, 2023, the Company recognized revenue of $43,949,000 related to its contract liabilities. Transaction price allocated to the remaining performance obligations The following table includes estimated net sales related to performance obligations that are unsatisfied (or partially unsatisfied) as of June 30, 2024 that are expected to be recognized in the future (in thousands): Services Remainder of 2024 $ 67,423 2025 60,114 2026 28,754 2027 and thereafter 39,863 Total remaining performance obligations $ 196,154 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, the remaining performance obligations that have original expected durations of one year or less are not included in the table above. Amounts not included in the table above have an average original expected duration of eight months. 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, 2024 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 20 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.

Net Earnings Per Share

Net Earnings Per Share	6 Months Ended
	Jun. 30, 2024
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 Convertible Notes and the warrants relating to the Call Spread Transactions, as applicable. 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 2024 2023 2024 2023 Numerator: Net earnings $ 87,444 $ 80,482 $ 154,471 $ 130,454 Denominator: Weighted average shares used to compute basic EPS 32,565 33,101 32,580 33,403 Dilutive potential common shares due to dilutive RSUs, net of tax effect 275 234 312 275 Dilutive potential common shares due to the Convertible Notes 3,322 2,516 3,275 2,413 Dilutive potential common shares due to the Warrants 2,405 1,188 2,334 1,032 Weighted average shares used to compute diluted EPS 38,567 37,039 38,501 37,123 Net earnings per share: Basic $ 2.69 $ 2.43 $ 4.74 $ 3.91 Diluted $ 2.27 $ 2.17 $ 4.01 $ 3.51 For the three and six months ended June 30, 2024, 4,182 and 14,672, 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, 2023, 67,000 and 76,000, respectively,

Debt, Inventory Financing Facil

Debt, Inventory Financing Facilities, Finance Leases and Other Financing Obligations	6 Months Ended
	Jun. 30, 2024
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 $ 171,283 $ 591,500 Senior unsecured notes due 2032 491,781 — Convertible senior notes due 2025 331,987 347,988 Finance leases and other financing obligations 21 1,033 Total 995,072 940,521 Less: current portion of long-term debt (331,997) (348,004) Long-term debt $ 663,075 $ 592,517 On May 14, 2024, we entered into a Fourth Amendment to the Credit Agreement (as amended, the "credit agreement") to modify our senior secured revolving credit facility (the “ABL facility”). The amendment, among other things, releases certain immaterial guarantors from their obligations under the credit agreement. Our maximum borrowing amount under the ABL facility is $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 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 matures on July 22, 2027. As of June 30, 2024, eligible accounts receivable and inventory permitted availability to the full $1,800,000,000 facility amount, of which $171,283,000 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. Senior Unsecured Notes due 2032 On May 20, 2024, we issued $500,000,000 aggregate principal amount of 6.625% Senior Notes due 2032 (the "Senior Notes") that mature on May 15, 2032. The Senior Notes are senior unsecured obligations of the Company and guaranteed by each of the Company's existing and future direct and indirect U.S. subsidiaries that is or becomes a guarantor or borrower under the ABL facility, subject to certain exceptions. The net proceeds from the offering were used to repay a portion of the outstanding borrowings under the ABL facility. The Senior Notes were issued pursuant to an indenture (the "Senior Notes Indenture") containing certain covenants that limit the Company's ability to, subject to certain exceptions, create, incur, or assume liens to secure debt, among other things. The Senior Notes bear interest at an annual rate of 6.625% payable semiannually, in arrears, on May 15 th and November 15 th of each year beginning on November 15, 2024. The Company may redeem the Senior Notes prior to May 15, 2027, with an amount equal to the net cash proceeds received by the Company from certain equity offerings at a redemption price equal to 106.625% of the principal amount of such notes, plus accrued and unpaid interest, if any, to, but excluding, the redemption date, in an aggregate principal amount for all such redemptions not to exceed 40% of the aggregate principal amount of the Senior Notes. The Senior Notes are subject to redemption at specified prices on or after May 15, 2027 plus accrued and unpaid interest, if any, on such notes redeemed, to, but excluding, the applicable redemption date. In addition, at any time prior to May 15, 2027, the Company may, on one or more occasions, redeem the Senior Notes in whole or in part, at its option, upon notice, at a redemption price equal to 100% of the principal amount of such notes plus a “make-whole” premium as specified in the Senior Notes Indenture and accrued and unpaid interest, if any, to, but excluding, the redemption date. If the Company experiences certain change of control events, together with a ratings decline, as described in the Senior Notes Indenture, the Company will be required to make an offer to repurchase some or all of the Senior Notes at a price equal to 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to, but excluding, the repurchase date. The Senior Notes are subject to certain customary events of default and acceleration clauses. As of June 30, 2024, no such events have occurred. Convertible Senior Notes due 2025 In August 2019, we issued $350,000,000 aggregate principal amount of Convertible Notes (the "Convertible Notes") that mature on February 15, 2025. The Convertible 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 Convertible 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. Prior to the close of business on the business day immediately preceding June 15, 2024, holders of the Convertible Notes could have converted their notes at their option at any time under certain circumstances. Beginning June 15, 2024 until the close of business on the second scheduled trading day immediately preceding the maturity date, the holders may convert their Convertible Notes at any time, regardless of such circumstances. The Convertible Notes mature on February 15, 2025, and as such, the Convertible Notes balance net of unamortized debt issuance costs is classified as a current liability. Upon conversion, we will pay cash equal to the principal amount of the Convertible 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 Convertible 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 Convertible Notes to be repurchased, plus accrued and unpaid interest to, but excluding, the fundamental change repurchase date. As of June 30, 2024, 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. In September 2023, an individual Convertible Note holder exercised their option to convert their Convertible Notes in the aggregate principal amount of $16,895,000, which was settled in January 2024. As a result, the principal amount of the Convertible Notes was settled in cash with additional amounts due being settled in shares of our common stock. The Convertible Notes are subject to certain customary events of default and acceleration clauses. As of June 30, 2024, no such events have occurred. The Convertible Notes consist of the following balances reported within the consolidated balance sheets (in thousands): June 30, December 31, Liability: Principal $ 333,105 $ 350,000 Less: debt issuance costs, net of accumulated amortization (1,118) (2,012) Net carrying amount $ 331,987 $ 347,988 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 Convertible Notes in cash. The remaining life of the debt issuance cost accretion is approximately 0.62 years. The effective interest rate on the principal of the Convertible Notes is 0.75%. Interest expense resulting from the Convertible Notes reported within the consolidated statement of operations for the three and six months ended June 30, 2024 and 2023 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 Convertible 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 Convertible 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 Convertible Notes and reduce potential dilution by effectively increasing the initial conversion price of the Convertible 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. We have maximum availability under our unsecured inventory financing facility with PNC Bank, N.A. (“PNC”) of $375,000,000, including a $25,000,000 facility in Canada (the "Canada facility"). We also have an unsecured inventory financing facility with Wells Fargo in EMEA (the "EMEA facility") of $50,000,000. The inventory financing facilities will remain in effect until they are terminated by any of the parties. In the second quarter of 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 Overnight Repo Rate Average 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, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Our effective tax rates for the three and six months ended June 30, 2024 were 25.5% and 24.8%, respectively. Our effective tax rate was 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, tax benefits related to research and development activities, and tax benefits related to the revaluation of certain acquisition earnout liabilities. 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. As of June 30, 2024 and December 31, 2023, we had approximately $11,720,000 and $13,947,000, respectively, of unrecognized tax benefits. Of these amounts, approximately $1,458,000 and $1,767,000, respectively, related to accrued interest. 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 2017 through 2022. 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, 2024
Equity [Abstract]
Share Repurchase Program	Share Repurchase Program 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 prior authorizations. As of June 30, 2024, approximately $165,020,476 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 number 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, 2024, we did not repurchase any shares of our common stock.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
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, 2024, we had approximately $29,526,731 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, 2024. Accordingly, we have not accrued any liabilities related to such performance bonds in our consolidated financial statements. The Company has a minimum required purchase commitment of approximately $100,467,000 pursuant to an agreement primarily related to cloud services. The total purchase commitment is required to be met or exceeded during a 5-year period, starting October 1, 2023 through September 30, 2028. At June 30, 2024 we had a remaining purchase commitment of $88,295,000. If total purchases do not meet the required commitment by September 30, 2028, the shortfall must be prepaid by the Company and can be used for further purchases through September 30, 2029. The Company has a minimum required purchase commitment of approximately $40,000,000 pursuant to an agreement primarily related to software as a service. The total purchase commitment is required to be met during a 4-year period, starting November 30, 2022 through November 29, 2026. At June 30, 2024 we had a remaining purchase commitment of $26,123,000. The Company has recorded a contingent liability of approximately $21,236,000 payable to a partner to settle various contractual commitments to resell a minimum amount of cloud services to clients. 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, 2024. 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 related to services provided, interruptions, or outages, 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.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2024
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 consist largely of 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 and six months ended June 30, 2024 and 2023 (in thousands): Three Months Ended June 30, 2024 North America EMEA APAC Consolidated Major Offerings Hardware $ 1,037,523 $ 125,074 $ 10,044 $ 1,172,641 Software 365,209 167,182 21,403 553,794 Services 329,625 76,617 28,985 435,227 $ 1,732,357 $ 368,873 $ 60,432 $ 2,161,662 Major Client Groups Large Enterprise / Corporate $ 1,189,407 $ 271,772 $ 23,867 $ 1,485,046 Commercial 359,940 7,788 17,347 385,075 Public Sector 183,010 89,313 19,218 291,541 $ 1,732,357 $ 368,873 $ 60,432 $ 2,161,662 Revenue Recognition based on acting as Principal or Agent in the Transaction Gross revenue recognition (Principal) $ 1,586,437 $ 329,126 $ 48,301 $ 1,963,864 Net revenue recognition (Agent) 145,920 39,747 12,131 197,798 $ 1,732,357 $ 368,873 $ 60,432 $ 2,161,662 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 Six Months Ended June 30, 2024 North America EMEA APAC Consolidated Major Offerings Hardware $ 2,028,589 $ 261,388 $ 17,391 $ 2,307,368 Software 960,449 370,434 52,139 1,383,022 Services 648,141 149,892 52,724 850,757 $ 3,637,179 $ 781,714 $ 122,254 $ 4,541,147 Major Client Groups Large Enterprise / Corporate $ 2,556,710 $ 580,070 $ 46,035 $ 3,182,815 Commercial 717,229 16,701 32,410 766,340 Public Sector 363,240 184,943 43,809 591,992 $ 3,637,179 $ 781,714 $ 122,254 $ 4,541,147 Revenue Recognition based on acting as Principal or Agent in the Transaction Gross revenue recognition (Principal) $ 3,348,682 $ 710,208 $ 100,825 $ 4,159,715 Net revenue recognition (Agent) 288,497 71,506 21,429 381,432 $ 3,637,179 $ 781,714 $ 122,254 $ 4,541,147 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 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, 2024 or 2023. 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, 2024 North America EMEA APAC Consolidated Net sales: Products $ 1,402,732 $ 292,256 $ 31,447 $ 1,726,435 Services 329,625 76,617 28,985 435,227 Total net sales 1,732,357 368,873 60,432 2,161,662 Costs of goods sold: Products 1,245,586 262,262 28,422 1,536,270 Services 132,664 27,469 11,894 172,027 Total costs of goods sold 1,378,250 289,731 40,316 1,708,297 Gross profit 354,107 79,142 20,116 453,365 Operating expenses: Selling and administrative expenses 248,192 57,264 11,778 317,234 Severance and restructuring expenses 3,922 861 85 4,868 Acquisition and integration related expenses 180 10 — 190 Earnings from operations $ 101,813 $ 21,007 $ 8,253 $ 131,073 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, net (4,685) 867 48 (3,770) Acquisition and integration related expenses 106 — — 106 Earnings from operations $ 95,436 $ 16,267 $ 6,908 $ 118,611 Six Months Ended June 30, 2024 North America EMEA APAC Consolidated Net sales: Products $ 2,989,038 $ 631,822 $ 69,530 $ 3,690,390 Services 648,141 149,892 52,724 850,757 Total net sales 3,637,179 781,714 122,254 4,541,147 Costs of goods sold: Products 2,672,259 572,334 63,261 3,307,854 Services 260,970 55,205 22,825 339,000 Total costs of goods sold 2,933,229 627,539 86,086 3,646,854 Gross profit 703,950 154,175 36,168 894,293 Operating expenses: Selling and administrative expenses 511,112 120,569 22,987 654,668 Severance and restructuring expenses 5,541 1,399 155 7,095 Acquisition and integration related expenses 1,461 10 — 1,471 Earnings from operations $ 185,836 $ 32,197 $ 13,026 $ 231,059 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, net (1,598) 1,569 61 32 Acquisition and integration related expenses 157 — — 157 Earnings from operations $ 158,622 $ 26,548 $ 10,902 $ 196,072 The following is a summary of our total assets by reportable operating segment (in thousands): June 30, December 31, North America $ 6,356,884 $ 6,521,591 EMEA 1,497,936 1,058,734 APAC 246,249 171,820 Corporate assets and intercompany eliminations, net (748,256) (1,465,795) Total assets $ 7,352,813 $ 6,286,350 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 2024 2023 2024 2023 Depreciation and amortization of property and equipment: North America $ 6,170 $ 5,495 $ 12,243 $ 11,143 EMEA 900 603 1,657 1,199 APAC 138 102 269 211 7,208 6,200 14,169 12,553 Amortization of intangible assets: North America 15,588 7,766 28,734 15,551 EMEA 1,660 408 3,330 820 APAC 109 111 218 224 17,357 8,285 32,282 16,595 Total $ 24,565 $ 14,485 $ 46,451 $ 29,148

Acquisition

Acquisition	6 Months Ended
	Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Acquisition	Acquisition Infocenter Effective May 1, 2024, we acquired 100 percent of the issued and outstanding shares of Infocenter.io Corporation ("Infocenter") for a cash purchase price of $265,000,000, net of cash and cash equivalents acquired of $5,103,000, which is comprised of the initial purchase price of $269,477,000 paid in cash upon the acquisition and contractual adjustments to the purchase price of $626,000 paid in July 2024. The purchase price was partially reduced by an indemnification receivable of approximately $2,299,000 to cover a sales tax liability. The purchase price also includes the estimated fair value of earn out payments of approximately $24,200,000, which provide an incentive opportunity for the sellers of up to $106,250,000, based on Infocenter achieving certain EBITDA performance through April 2026. Infocenter is a pure-play ServiceNow Elite Partner dedicated to automating business processes on the Now Platform®. We believe this acquisition enhances our Solutions Integrator offering framework to drive better business outcomes for our clients by enabling them to scale their multicloud environments with modern infrastructure, applications, and unified data and AI platforms. The preliminary fair value of net assets acquired was approximately $95,173,000, including approximately $123,900,000 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. As these intangible assets are not tax deductible, we recognized a related deferred tax liability of approximately $31,832,000. The preliminary purchase price was allocated using the information currently available. Further information obtained upon the finalization of the fair value assumptions for identifiable intangible assets acquired and various accrued expense balance assessments could lead to an adjustment of the purchase price allocation. Goodwill acquired approximated $191,728,000, which was recorded in our North America operating segment. We consolidated the results of operations for Infocenter within our North America operating segment since its acquisition on May 1, 2024. Our historical results would not have been materially affected by the acquisition of Infocenter and, accordingly, we have not presented pro forma information as if the acquisition had been completed at the beginning of each period presented in our consolidated statement of operations. SADA Effective December 1, 2023, we acquired 100 percent of the issued and outstanding shares of SADA Systems, LLC (successor to SADA Systems, Inc. via conversion) ("SADA") for a cash purchase price of $399,762,000, excluding cash and cash equivalents acquired of $24,701,000. SADA is a leading cloud consultancy and technical services provider and six-time Google Cloud Partner of the Year, including cloud licensing and professional services to small, mid-sized and corporate/enterprise commercial clients, state and federal governments and educational institutions across North America, Europe and Asia. Based in Los Angeles, California, SADA has three office locations in North America, India and Armenia with more than 800 teammates. We believe that this acquisition advances our strategy and further strengthens our unique position as a leading Solutions Integrator offering market-leading multicloud solutions at scale. We further believe SADA's partnership with Google Cloud will enhance our ability to serve clients who operate across multiple clouds and accelerate adoption of widely sought-after technologies like GenAI. SADA is being reported as a part of our North America operating segment. The total purchase price of $424,870,000, which is net of cash and cash equivalents acquired of $24,701,000, is comprised of the initial purchase price of $423,290,000 paid in cash upon the SADA acquisition, contractual adjustments to the purchase price of $1,173,000 paid in March 2024 and a seller retention fund of $5,000,000 payable post-closing, and was partially reduced by an indemnification receivable of $1,180,000 to cover a gross receipts tax liability identified after acquisition. The purchase price also includes the estimated fair value of earnout payments of approximately $21,288,000, which provides an incentive opportunity for the sellers of up to $390,000,000, based on the SADA business achieving EBITDA and revenue growth performance through 2026. A portion of the purchase price was used to settle SADA’s stock-based compensation liabilities of $68,335,000 and pay SADA’s transaction costs of approximately $16,852,000 at acquisition and after contractual adjustments in accordance with the purchase agreement. The following table summarizes the preliminary purchase price and the estimated fair value of the assets acquired and liabilities assumed at the date of acquisition (in thousands): Total purchase price, net of cash and cash equivalents acquired $ 424,870 Fair value of net assets acquired: Current assets $ 346,885 Identifiable intangible assets - see description below 158,100 Property and equipment 2,266 Other assets 246,158 Current liabilities (330,051) Long-term liabilities, including long-term accounts payable (115,171) Total fair value of net assets acquired 308,187 Excess purchase price over fair value of net assets acquired ("goodwill") $ 116,683 Under the acquisition method of accounting, the total purchase price as shown in the table above was allocated to the tangible and identifiable intangible assets acquired and liabilities assumed based on their estimated fair values. The excess of the purchase price over fair value of net assets acquired was recorded as goodwill. During the six months ended June 30, 2024, a net adjustment of $339,000 was recorded to reduce goodwill, primarily due to certain measurement period adjustments to accounts receivable, contract assets, net, accounts payable and accrued expenses. The estimated fair values of the majority of the current assets and liabilities are based upon their historical costs on the date of acquisition due to their short-term nature, with the exception of contract assets. The estimated fair value of the property and equipment are also based upon historical costs as they approximate fair value. The contract assets are an exception to the fair value model and are evaluated under relevant revenue recognition guidance including an allowance for credit losses using the current expected credit loss (“CECL”) model. The preliminary estimated fair value of net assets acquired was approximately $308,187,000, including $158,100,000 of identifiable intangible assets, consisting primarily of customer relationships of $124,700,000 and non-compete agreements of $26,200,000. The fair values were determined using the multiple-period excess earnings method and the lost income method, respectively. The identifiable intangibles resulting from the acquisition are amortized using the straight-line method over the following estimated useful lives: Intangible Assets Estimated Economic Life Customer relationships 10 Years Trade name 3 Years Non-compete agreements 3-5 Years Goodwill of $116,683,000, which was recorded in our North America operating segment, represents the excess of the purchase price over the estimated fair value assigned to tangible and identifiable intangible assets acquired and liabilities assumed from SADA. The goodwill is not amortized and will be tested for impairment annually in the fourth quarter of our fiscal year. The addition of the SADA technical employees to our team and the opportunity to grow our business are the primary factors making up the goodwill recognized as part of the transaction. The intangible assets and goodwill are tax deductible as the transaction is a deemed asset acquisition for U.S. federal income tax purposes after the Seller Parties undertook an internal restructuring pursuant to Section 368(a)(1)(F). The purchase price allocation is preliminary and was allocated using information currently available. Further information related to accounts receivable, contract assets, accounts payable, goodwill and various accrued expense balance assessments may lead to an adjustment of the purchase price allocation. We have consolidated the results of operations for SADA since its acquisition on December 1, 2023. Our historical results would not have been materially affected by the acquisition of SADA and, accordingly, we have not presented pro forma information as if the acquisition had been completed at the beginning of each period presented in our consolidated statement of operations. We recognized net gains within selling and administrative expenses of $20,684,000 and $20,219,000 due to the net decrease in the estimated fair value of the earnout payments for the three and six months ended June 30, 2024, respectively. Amdaris Effective August 17, 2023, we acquired 100 percent of the issued and outstanding shares of Amdaris Group Limited (“Amdaris”) for a preliminary cash purchase price, net of cash and cash equivalents acquired, of approximately $82,875,000, excluding the estimated fair value of an earnout, reported in other liabilities, with a range of payouts through 2026 of $0 to $54,391,000. We paid the earnout of $14,348,000 for Amdaris' 2023 performance in March 2024. Amdaris, an award-winning software development and digital services specialist, provides innovative software development, application support, managed services and consultancy services to the customers in the United Kingdom with service delivery centers located in several eastern European countries. Amdaris has been recognized as a Microsoft Gold Certified Partner. We believe this acquisition expands our global Modern Apps and Data & AI areas of solutions expertise as a leading solutions integrator and enhances our technological capabilities and scale to deliver an even broader range of customized services and solutions to clients in EMEA. The preliminary fair value of net assets acquired was approximately $34,060,000, including $41,291,000 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 preliminary purchase price was allocated using the information available. During the first quarter of 2024, we finalized the fair value assumptions for identifiable intangible assets with no changes being made to amounts previously recorded. Goodwill acquired approximated $71,698,000, which was recorded in our EMEA operating segment. We consolidated the results of operations for Amdaris within our EMEA operating segment beginning on August 17, 2023, the effective date of the acquisition. Our historical results would not have been materially affected by the acquisition of Amdaris and, accordingly, we have not presented pro forma information as if the acquisition had been completed at the beginning of each period presented in our consolidated statement of operations. We recognized net gains within selling and administrative expenses of $4,464,000 and $3,988,000 due to the net decrease in the estimated fair value of the earnout payments for the three and six months ended June 30, 2024, respectively.

Assets Held for Sale

Assets Held for Sale	6 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment Assets Held-for-Sale Disclosure [Abstract]
Assets Held for Sale	Assets Held for Sale During the 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 six months ended June 30, 2024, we did not sell any assets held for sale.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net earnings	$ 87,444	$ 80,482	$ 154,471	$ 130,454

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
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, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Recently Issued Accounting Standards	Recently Issued Accounting Standards In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update ("ASU") No. 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures", which requires public entities to disclose information about their reportable segments' significant expenses on an interim and annual basis. The amendments aim to improve interim disclosure requirements, clarify situations where an entity can reveal multiple segment measures of profit or loss, provide new segment disclosure requirements for entities with a single reportable segment, and include other disclosure requirements. The main objective of the amendments is to assist investors in understanding the entity's overall performance and evaluate potential future cash flows. The guidance is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024 with early adoption being permitted. We did not early adopt this guidance. The updated guidance is not expected to have a material effect on the Company's consolidated financial statements or 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, 2023 that affect or may affect our current financial statements.

Basis of Presentation and Rec_3

Basis of Presentation and Recently Issued Accounting Standards (Tables)	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule Of Operating Segments By Geographic Location	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

Receivables, Contract Liabili_2

Receivables, Contract Liabilities and Performance Obligations (Tables)	6 Months Ended
	Jun. 30, 2024
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, 2024 and December 31, 2023 (in thousands): June 30, December 31, Current receivables, which are included in “Accounts receivable, net” $ 4,143,400 $ 3,568,290 Contract assets, net 89,179 120,518 Long-term accounts receivable 648,162 412,666 Long-term contract assets, net 119,332 132,780 Contract liabilities, which are included in “Accrued expenses and other current liabilities” and “Other liabilities” 113,507 107,217
Summary of Changes in Gross Contract Liabilities from Contract with Customers	Significant changes in the gross contract assets balances during the six months ended June 30, 2024 are as follows (in thousands): Contract Balances at December 31, 2023 $ 272,287 Reclassification of beginning contract assets to receivables, as a result of rights to consideration becoming unconditional (59,355) Contract assets recognized, net of reclassification to receivables 16,893 Measurement period adjustments to acquired contract assets (4,839) Balances at June 30, 2024 $ 224,986 Contract assets consist of amounts the Company is entitled to for the resale of third-party consumption-based services, prior to payment becoming unconditional. In these transactions, the Company invoices clients for the gross amount of consideration it is responsible to collect, including amounts ultimately passed on to the third-party service providers. As of June 30, 2024, contract assets, net of allowances, were $208,511,000. Gross contract assets by our internal risk ratings as of June 30, 2024 are summarized as follows (in thousands): Contract assets Low risk $ 36,506 Moderate risk 53,713 High risk 134,767 Total contract assets $ 224,986 Changes in the contract liabilities balances during the six months ended June 30, 2024 are as follows (in thousands): Contract Balances at December 31, 2023 $ 107,217 Reclassification of the beginning contract liabilities to revenue, as the result of performance obligations satisfied (55,476) Cash received in advance and not recognized as revenue 61,766 Balances at June 30, 2024 $ 113,507
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, 2024 that are expected to be recognized in the future (in thousands): Services Remainder of 2024 $ 67,423 2025 60,114 2026 28,754 2027 and thereafter 39,863 Total remaining performance obligations $ 196,154

Net Earnings Per Share (Tables)

Net Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Summary of 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 2024 2023 2024 2023 Numerator: Net earnings $ 87,444 $ 80,482 $ 154,471 $ 130,454 Denominator: Weighted average shares used to compute basic EPS 32,565 33,101 32,580 33,403 Dilutive potential common shares due to dilutive RSUs, net of tax effect 275 234 312 275 Dilutive potential common shares due to the Convertible Notes 3,322 2,516 3,275 2,413 Dilutive potential common shares due to the Warrants 2,405 1,188 2,334 1,032 Weighted average shares used to compute diluted EPS 38,567 37,039 38,501 37,123 Net earnings per share: Basic $ 2.69 $ 2.43 $ 4.74 $ 3.91 Diluted $ 2.27 $ 2.17 $ 4.01 $ 3.51

Debt, Inventory Financing Fac_2

Debt, Inventory Financing Facilities, Finance Leases and Other Financing Obligations (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Summary of Long-Term Debt	Our long-term debt consists of the following (in thousands): June 30, December 31, ABL revolving credit facility $ 171,283 $ 591,500 Senior unsecured notes due 2032 491,781 — Convertible senior notes due 2025 331,987 347,988 Finance leases and other financing obligations 21 1,033 Total 995,072 940,521 Less: current portion of long-term debt (331,997) (348,004) Long-term debt $ 663,075 $ 592,517
Summary of Convertible Senior Notes Balances	The Convertible Notes consist of the following balances reported within the consolidated balance sheets (in thousands): June 30, December 31, Liability: Principal $ 333,105 $ 350,000 Less: debt issuance costs, net of accumulated amortization (1,118) (2,012) Net carrying amount $ 331,987 $ 347,988

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2024
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, 2024 and 2023 (in thousands): Three Months Ended June 30, 2024 North America EMEA APAC Consolidated Major Offerings Hardware $ 1,037,523 $ 125,074 $ 10,044 $ 1,172,641 Software 365,209 167,182 21,403 553,794 Services 329,625 76,617 28,985 435,227 $ 1,732,357 $ 368,873 $ 60,432 $ 2,161,662 Major Client Groups Large Enterprise / Corporate $ 1,189,407 $ 271,772 $ 23,867 $ 1,485,046 Commercial 359,940 7,788 17,347 385,075 Public Sector 183,010 89,313 19,218 291,541 $ 1,732,357 $ 368,873 $ 60,432 $ 2,161,662 Revenue Recognition based on acting as Principal or Agent in the Transaction Gross revenue recognition (Principal) $ 1,586,437 $ 329,126 $ 48,301 $ 1,963,864 Net revenue recognition (Agent) 145,920 39,747 12,131 197,798 $ 1,732,357 $ 368,873 $ 60,432 $ 2,161,662 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 Six Months Ended June 30, 2024 North America EMEA APAC Consolidated Major Offerings Hardware $ 2,028,589 $ 261,388 $ 17,391 $ 2,307,368 Software 960,449 370,434 52,139 1,383,022 Services 648,141 149,892 52,724 850,757 $ 3,637,179 $ 781,714 $ 122,254 $ 4,541,147 Major Client Groups Large Enterprise / Corporate $ 2,556,710 $ 580,070 $ 46,035 $ 3,182,815 Commercial 717,229 16,701 32,410 766,340 Public Sector 363,240 184,943 43,809 591,992 $ 3,637,179 $ 781,714 $ 122,254 $ 4,541,147 Revenue Recognition based on acting as Principal or Agent in the Transaction Gross revenue recognition (Principal) $ 3,348,682 $ 710,208 $ 100,825 $ 4,159,715 Net revenue recognition (Agent) 288,497 71,506 21,429 381,432 $ 3,637,179 $ 781,714 $ 122,254 $ 4,541,147 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
Summary of 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, 2024 North America EMEA APAC Consolidated Net sales: Products $ 1,402,732 $ 292,256 $ 31,447 $ 1,726,435 Services 329,625 76,617 28,985 435,227 Total net sales 1,732,357 368,873 60,432 2,161,662 Costs of goods sold: Products 1,245,586 262,262 28,422 1,536,270 Services 132,664 27,469 11,894 172,027 Total costs of goods sold 1,378,250 289,731 40,316 1,708,297 Gross profit 354,107 79,142 20,116 453,365 Operating expenses: Selling and administrative expenses 248,192 57,264 11,778 317,234 Severance and restructuring expenses 3,922 861 85 4,868 Acquisition and integration related expenses 180 10 — 190 Earnings from operations $ 101,813 $ 21,007 $ 8,253 $ 131,073 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, net (4,685) 867 48 (3,770) Acquisition and integration related expenses 106 — — 106 Earnings from operations $ 95,436 $ 16,267 $ 6,908 $ 118,611
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 $ 6,356,884 $ 6,521,591 EMEA 1,497,936 1,058,734 APAC 246,249 171,820 Corporate assets and intercompany eliminations, net (748,256) (1,465,795) Total assets $ 7,352,813 $ 6,286,350
Summary of 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 2024 2023 2024 2023 Depreciation and amortization of property and equipment: North America $ 6,170 $ 5,495 $ 12,243 $ 11,143 EMEA 900 603 1,657 1,199 APAC 138 102 269 211 7,208 6,200 14,169 12,553 Amortization of intangible assets: North America 15,588 7,766 28,734 15,551 EMEA 1,660 408 3,330 820 APAC 109 111 218 224 17,357 8,285 32,282 16,595 Total $ 24,565 $ 14,485 $ 46,451 $ 29,148

Acquisition (Tables)

Acquisition (Tables)	6 Months Ended
	Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Summary of Purchase Price and Estimated Fair Value of Assets Acquired and Liabilities Assumed	The following table summarizes the preliminary purchase price and the estimated fair value of the assets acquired and liabilities assumed at the date of acquisition (in thousands): Total purchase price, net of cash and cash equivalents acquired $ 424,870 Fair value of net assets acquired: Current assets $ 346,885 Identifiable intangible assets - see description below 158,100 Property and equipment 2,266 Other assets 246,158 Current liabilities (330,051) Long-term liabilities, including long-term accounts payable (115,171) Total fair value of net assets acquired 308,187 Excess purchase price over fair value of net assets acquired ("goodwill") $ 116,683
Summary of Intangible Assets Acquired as Part of Business Combination	The identifiable intangibles resulting from the acquisition are amortized using the straight-line method over the following estimated useful lives: Intangible Assets Estimated Economic Life Customer relationships 10 Years Trade name 3 Years Non-compete agreements 3-5 Years

Basis of Presentation and Rec_4

Basis of Presentation and Recently Issued Accounting Standards - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2024 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, 2024	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Current receivables, which are included in “Accounts receivable, net”	$ 4,143,400	$ 3,568,290
Contract assets, net	89,179	120,518
Long-term accounts receivable	648,162	412,666
Long-term contract assets, net	119,332	132,780
Contract liabilities, which are included in “Accrued expenses and other current liabilities” and “Other liabilities”	113,507	107,217
Accounts Receivable, Net
Disaggregation of Revenue [Line Items]
Current receivables, which are included in “Accounts receivable, net”	4,143,400	3,568,290
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”	$ 113,507	$ 107,217

Receivables, Contract Liabili_4

Receivables, Contract Liabilities and Performance Obligations - Summary of Changes in Gross Contract Liabilities from Contract with Customers (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Changes in Contract Assets [Roll Forward]
Beginning balance, contract assets	$ 272,287
Reclassification of beginning contract assets to receivables, as a result of rights to consideration becoming unconditional	(59,355)
Contract assets recognized, net of reclassification to receivables	16,893
Contract assets acquired through business combination	(4,839)
Ending balance, contract assets	224,986
Changes in Contract Liabilities [Roll Forward]
Beginning balance, contract liabilities	107,217
Reclassification of the beginning contract liabilities to revenue, as the result of performance obligations satisfied	(55,476)
Cash received in advance and not recognized as revenue	61,766
Ending balance, contract liabilities	$ 113,507

Receivables, Contract Liabili_5

Receivables, Contract Liabilities and Performance Obligations - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Contract assets	$ 208,511
Contract with customer, liability, revenue recognized		$ 43,949,000
Time and material contracts expected duration	20 months

Receivables, Contract Liabili_6

Receivables, Contract Liabilities and Performance Obligations - Gross Contract Assets by Internal Risk Ratings (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Contract assets, net of allowances	$ 224,986	$ 272,287
Low risk
Disaggregation of Revenue [Line Items]
Contract assets, net of allowances	36,506
Moderate risk
Disaggregation of Revenue [Line Items]
Contract assets, net of allowances	53,713
High risk
Disaggregation of Revenue [Line Items]
Contract assets, net of allowances	$ 134,767

Receivables, Contract Liabili_7

Receivables, Contract Liabilities and Performance Obligations - Summary of Estimated Net Sales Related to Performance Obligation (Detail) - Services $ in Thousands	Jun. 30, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total remaining performance obligations	$ 196,154
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total remaining performance obligations	$ 67,423
Remaining performance obligation, expected timing of satisfaction period	6 months
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	$ 60,114
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	$ 28,754
Remaining performance obligation, expected timing of satisfaction period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2027-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total remaining performance obligations	$ 39,863
Remaining performance obligation, expected timing of satisfaction period	1 year

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, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Numerator:
Net earnings	$ 87,444	$ 80,482	$ 154,471	$ 130,454
Denominator:
Weighted average shares used to compute basic EPS (in shares)	32,565	33,101	32,580	33,403
Dilutive potential common shares due to dilutive RSUs, net of tax effect (in shares)	275	234	312	275
Dilutive potential common shares due to the Warrants (in shares)	2,405	1,188	2,334	1,032
Weighted average shares used to compute diluted EPS (in shares)	38,567	37,039	38,501	37,123
Net earnings per share:
Basic (in usd per share)	$ 2.69	$ 2.43	$ 4.74	$ 3.91
Diluted (in usd per share)	$ 2.27	$ 2.17	$ 4.01	$ 3.51
Notes
Denominator:
Dilutive potential common shares due to the Convertible Notes (in shares)	3,322	2,516	3,275	2,413

Net Earnings Per Share - Additi

Net Earnings Per Share - Additional Information (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Restricted Stock Units (RSUs)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
RSUs excluded from the diluted EPS calculations (in shares)	4,182	67,000	14,672	76,000

Debt, Inventory Financing Fac_3

Debt, Inventory Financing Facilities, Finance Leases and Other Financing Obligations - Schedule of Long-Term Debt (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Finance leases and other financing obligations	$ 21	$ 1,033
Total	995,072	940,521
Less: current portion of long-term debt	(331,997)	(348,004)
Long-term debt	663,075	592,517
Senior unsecured notes due 2032
Debt Instrument [Line Items]
Convertible senior notes due 2025	491,781	0
Convertible senior notes due 2025
Debt Instrument [Line Items]
Convertible senior notes due 2025	331,987	347,988
ABL revolving credit facility
Debt Instrument [Line Items]
ABL revolving credit facility	$ 171,283	$ 591,500

Debt, Inventory Financing Fac_4

Debt, Inventory Financing Facilities, Finance Leases and Other Financing Obligations - Additional Information (Detail) - USD ($)		1 Months Ended	6 Months Ended
	May 15, 2024	Sep. 30, 2023	Jun. 30, 2024	May 20, 2024	Dec. 31, 2023	Jul. 22, 2022	Aug. 31, 2019
Debt Instrument [Line Items]
Accounts payable—inventory financing facilities			$ 218,553,000		$ 231,850,000
Senior unsecured notes due 2032
Debt Instrument [Line Items]
Aggregate principal amount of notes, issued amount				$ 500,000,000
Notes, interest rate (as a percent)				6.625%
Repurchase price as percentage of principal amount	106.625%
Percentage of last reported sale price to conversion price on each applicable trading day	40%
Debt instrument, redemption price, percentage of principal amount redeemed			100%
Senior unsecured notes due 2032 | Maximum
Debt Instrument [Line Items]
Repurchase price as percentage of principal amount			101%
Convertible senior notes due 2025
Debt Instrument [Line Items]
Aggregate principal amount of notes, issued amount			$ 333,105,000		350,000,000		$ 350,000,000
Notes, interest rate (as a percent)							0.75%
Repurchase price as percentage of principal amount			100%
Debt conversion, initial conversion rate (in shares)			14.6376
Principal amount per note used in conversion rate			$ 1,000
Conversion price per share (in usd per share)			$ 68.32
Shares issuable upon conversion of debt (in shares)			6,788,208
Debt conversion amount		$ 16,895,000
Notes, remaining accretion period of debt discount and issuance cost			7 months 13 days
Notes, effective interest rate			0.75%
Conversion price per share (in usd per share)			$ 68.32
Payments to convertible note hedge transaction			$ 66,325,000
Warrants sold to purchase of additional common stock (in shares)			5,123,160
Warrant price per share to purchase additional common stock (in usd per share)			$ 103.12
Proceeds from sale of warrants			$ 34,440,000
Convertible senior notes due 2025 | Maximum
Debt Instrument [Line Items]
Option to purchase common stock (in shares)			5,123,160
ABL revolving credit facility
Debt Instrument [Line Items]
ABL revolving credit facility			$ 171,283,000		$ 591,500,000
ABL revolving credit facility | Maximum
Debt Instrument [Line Items]
Credit facility, increase in amount available for borrowing			750,000,000
ABL revolving credit facility | Third Amendment to Credit Agreement
Debt Instrument [Line Items]
Credit facility, borrowing capacity			1,800,000,000			$ 1,800,000,000
ABL revolving credit facility | Foreign Currency Borrowings
Debt Instrument [Line Items]
Credit facility, borrowing capacity						$ 350,000,000
ABL revolving credit facility | First-In, Last-Out Revolving Facility
Debt Instrument [Line Items]
Credit facility, borrowing capacity			100,000,000
Unsecured Inventory Financing Facility | MUFG Bank Ltd
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%
Unsecured Inventory Financing Facility | PNC Facility
Debt Instrument [Line Items]
Inventory financing facility maximum borrowing capacity			$ 375,000,000
Inventory financing facility rate if vendor terms not met equal LIBOR plus			0.25%
Unsecured Inventory Financing Facility | Canada Facility
Debt Instrument [Line Items]
Inventory financing facility maximum borrowing capacity			$ 25,000,000
Inventory financing facility rate if vendor terms not met equal LIBOR plus			4.50%
Unsecured Inventory Financing Facility | EMEA Facilities
Debt Instrument [Line Items]
Inventory financing facility maximum borrowing capacity			$ 50,000,000
Inventory Financing Facility
Debt Instrument [Line Items]
Inventory financing facility maximum borrowing capacity			705,000,000
Accounts payable—inventory financing facilities			$ 218,553,000

Debt, Inventory Financing Fac_5

Debt, Inventory Financing Facilities, Finance Leases and Other Financing Obligations - Summary of Convertible Senior Notes Balances (Detail) - Convertible senior notes due 2025 - USD ($)	Jun. 30, 2024	Dec. 31, 2023	Aug. 31, 2019
Liability:
Principal	$ 333,105,000	$ 350,000,000	$ 350,000,000
Less: debt issuance costs, net of accumulated amortization	(1,118,000)	(2,012,000)
Net carrying amount	$ 331,987,000	$ 347,988,000

Income Taxes (Detail)

Income Taxes (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Effective tax rate	25.50%	26.30%	24.80%	25.70%
Unrecognized tax benefits	$ 11,720		$ 11,720		$ 13,947
Unrecognized tax benefits, interest on income taxes accrued	$ 1,458		$ 1,458		$ 1,767

Share Repurchase Program (Detai

Share Repurchase Program (Detail) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	May 18, 2023
Equity, Class of Treasury Stock [Line Items]
Common stock repurchase program, authorized remaining amount		$ 165,020,476
Common stock repurchase program, number of shares repurchased (in shares)	720,175	187,357	1,633,620
Repurchase program, approximate dollar value of shares purchased	$ 99,980,000	$ 35,000,000	$ 217,108,000
Repurchase program, average price paid per share (in usd per share)	$ 138.83	$ 186.81	$ 132.90
May 18 2023 Stock Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Common stock repurchase program, authorized amount				$ 300,000,000
September 19, 2022 Stock Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Common stock repurchase program, authorized remaining amount				$ 100,000,000

Commitments and Contingencies (

Commitments and Contingencies (Detail)	6 Months Ended
	Jun. 30, 2024 USD ($)
Commitments And Contingencies [Line Items]
Minimum required purchase commitment amount	$ 100,467,000
Purchase commitment term	5 years
Remaining amount	$ 88,295,000
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
Software as a Service
Commitments And Contingencies [Line Items]
Minimum required purchase commitment amount	$ 40,000,000
Purchase commitment term	4 years
Remaining amount	$ 26,123,000
Contingent liability	21,236,000
Surety Bond
Commitments And Contingencies [Line Items]
Performance bonds outstanding	$ 29,526,731

Segment Information - Additiona

Segment Information - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2024 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, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Total net sales	$ 2,161,662	$ 2,349,596	$ 4,541,147	$ 4,673,543
Gross revenue recognition (Principal)
Segment Reporting Information [Line Items]
Total net sales	1,963,864	2,170,648	4,159,715	4,351,052
Net revenue recognition (Agent)
Segment Reporting Information [Line Items]
Total net sales	197,798	178,948	381,432	322,491
North America
Segment Reporting Information [Line Items]
Total net sales	1,732,357	1,897,166	3,637,179	3,731,130
North America | Gross revenue recognition (Principal)
Segment Reporting Information [Line Items]
Total net sales	1,586,437	1,767,933	3,348,682	3,493,110
North America | Net revenue recognition (Agent)
Segment Reporting Information [Line Items]
Total net sales	145,920	129,233	288,497	238,020
EMEA
Segment Reporting Information [Line Items]
Total net sales	368,873	391,726	781,714	818,730
EMEA | Gross revenue recognition (Principal)
Segment Reporting Information [Line Items]
Total net sales	329,126	352,085	710,208	753,428
EMEA | Net revenue recognition (Agent)
Segment Reporting Information [Line Items]
Total net sales	39,747	39,641	71,506	65,302
APAC
Segment Reporting Information [Line Items]
Total net sales	60,432	60,704	122,254	123,683
APAC | Gross revenue recognition (Principal)
Segment Reporting Information [Line Items]
Total net sales	48,301	50,630	100,825	104,514
APAC | Net revenue recognition (Agent)
Segment Reporting Information [Line Items]
Total net sales	12,131	10,074	21,429	19,169
Large Enterprise / Corporate
Segment Reporting Information [Line Items]
Total net sales	1,485,046	1,638,244	3,182,815	3,262,242
Large Enterprise / Corporate | North America
Segment Reporting Information [Line Items]
Total net sales	1,189,407	1,321,876	2,556,710	2,615,409
Large Enterprise / Corporate | EMEA
Segment Reporting Information [Line Items]
Total net sales	271,772	289,519	580,070	598,582
Large Enterprise / Corporate | APAC
Segment Reporting Information [Line Items]
Total net sales	23,867	26,849	46,035	48,251
Commercial
Segment Reporting Information [Line Items]
Total net sales	385,075	381,497	766,340	775,337
Commercial | North America
Segment Reporting Information [Line Items]
Total net sales	359,940	359,750	717,229	731,775
Commercial | EMEA
Segment Reporting Information [Line Items]
Total net sales	7,788	3,609	16,701	8,399
Commercial | APAC
Segment Reporting Information [Line Items]
Total net sales	17,347	18,138	32,410	35,163
Public Sector
Segment Reporting Information [Line Items]
Total net sales	291,541	329,855	591,992	635,964
Public Sector | North America
Segment Reporting Information [Line Items]
Total net sales	183,010	215,540	363,240	383,946
Public Sector | EMEA
Segment Reporting Information [Line Items]
Total net sales	89,313	98,598	184,943	211,749
Public Sector | APAC
Segment Reporting Information [Line Items]
Total net sales	19,218	15,717	43,809	40,269
Hardware
Segment Reporting Information [Line Items]
Total net sales	1,172,641	1,310,273	2,307,368	2,639,118
Hardware | North America
Segment Reporting Information [Line Items]
Total net sales	1,037,523	1,165,127	2,028,589	2,320,766
Hardware | EMEA
Segment Reporting Information [Line Items]
Total net sales	125,074	132,220	261,388	295,110
Hardware | APAC
Segment Reporting Information [Line Items]
Total net sales	10,044	12,926	17,391	23,242
Software
Segment Reporting Information [Line Items]
Total net sales	553,794	635,336	1,383,022	1,274,136
Software | North America
Segment Reporting Information [Line Items]
Total net sales	365,209	417,327	960,449	812,124
Software | EMEA
Segment Reporting Information [Line Items]
Total net sales	167,182	196,060	370,434	410,621
Software | APAC
Segment Reporting Information [Line Items]
Total net sales	21,403	21,949	52,139	51,391
Services
Segment Reporting Information [Line Items]
Total net sales	435,227	403,987	850,757	760,289
Services | North America
Segment Reporting Information [Line Items]
Total net sales	329,625	314,712	648,141	598,240
Services | EMEA
Segment Reporting Information [Line Items]
Total net sales	76,617	63,446	149,892	112,999
Services | APAC
Segment Reporting Information [Line Items]
Total net sales	$ 28,985	$ 25,829	$ 52,724	$ 49,050

Segment Information - Financial

Segment Information - Financial Information about Reportable Operating Segments (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Total net sales	$ 2,161,662	$ 2,349,596	$ 4,541,147	$ 4,673,543
Total costs of goods sold	1,708,297	1,916,406	3,646,854	3,849,038
Gross profit	453,365	433,190	894,293	824,505
Operating expenses:
Selling and administrative expenses	317,234	318,243	654,668	628,244
Severance and restructuring expenses, net	4,868	(3,770)	7,095	32
Acquisition and integration related expenses	190	106	1,471	157
Earnings from operations	131,073	118,611	231,059	196,072
Products
Segment Reporting Information [Line Items]
Total net sales	1,726,435	1,945,609	3,690,390	3,913,254
Total costs of goods sold	1,536,270	1,749,448	3,307,854	3,522,177
Gross profit	190,165	196,161	382,536	391,077
Services
Segment Reporting Information [Line Items]
Total net sales	435,227	403,987	850,757	760,289
Total costs of goods sold	172,027	166,958	339,000	326,861
Gross profit	263,200	237,029	511,757	433,428
North America
Segment Reporting Information [Line Items]
Total net sales	1,732,357	1,897,166	3,637,179	3,731,130
Total costs of goods sold	1,378,250	1,554,024	2,933,229	3,072,844
Gross profit	354,107	343,142	703,950	658,286
Operating expenses:
Selling and administrative expenses	248,192	252,285	511,112	501,105
Severance and restructuring expenses, net	3,922	(4,685)	5,541	(1,598)
Acquisition and integration related expenses	180	106	1,461	157
Earnings from operations	101,813	95,436	185,836	158,622
North America | Products
Segment Reporting Information [Line Items]
Total net sales	1,402,732	1,582,454	2,989,038	3,132,890
Total costs of goods sold	1,245,586	1,416,637	2,672,259	2,804,599
North America | Services
Segment Reporting Information [Line Items]
Total net sales	329,625	314,712	648,141	598,240
Total costs of goods sold	132,664	137,387	260,970	268,245
EMEA
Segment Reporting Information [Line Items]
Total net sales	368,873	391,726	781,714	818,730
Total costs of goods sold	289,731	319,679	627,539	685,795
Gross profit	79,142	72,047	154,175	132,935
Operating expenses:
Selling and administrative expenses	57,264	54,913	120,569	104,818
Severance and restructuring expenses, net	861	867	1,399	1,569
Acquisition and integration related expenses	10	0	10	0
Earnings from operations	21,007	16,267	32,197	26,548
EMEA | Products
Segment Reporting Information [Line Items]
Total net sales	292,256	328,280	631,822	705,731
Total costs of goods sold	262,262	301,240	572,334	648,873
EMEA | Services
Segment Reporting Information [Line Items]
Total net sales	76,617	63,446	149,892	112,999
Total costs of goods sold	27,469	18,439	55,205	36,922
APAC
Segment Reporting Information [Line Items]
Total net sales	60,432	60,704	122,254	123,683
Total costs of goods sold	40,316	42,703	86,086	90,399
Gross profit	20,116	18,001	36,168	33,284
Operating expenses:
Selling and administrative expenses	11,778	11,045	22,987	22,321
Severance and restructuring expenses, net	85	48	155	61
Acquisition and integration related expenses	0	0	0	0
Earnings from operations	8,253	6,908	13,026	10,902
APAC | Products
Segment Reporting Information [Line Items]
Total net sales	31,447	34,875	69,530	74,633
Total costs of goods sold	28,422	31,571	63,261	68,705
APAC | Services
Segment Reporting Information [Line Items]
Total net sales	28,985	25,829	52,724	49,050
Total costs of goods sold	$ 11,894	$ 11,132	$ 22,825	$ 21,694

Segment Information - Summary_2

Segment Information - Summary of Total Assets by Reportable Operating Segment (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 7,352,813	$ 6,286,350
Operating Segments | North America
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	6,356,884	6,521,591
Operating Segments | EMEA
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	1,497,936	1,058,734
Operating Segments | APAC
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	246,249	171,820
Intersegment Eliminations
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ (748,256)	$ (1,465,795)

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, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Depreciation and amortization of property and equipment	$ 7,208	$ 6,200	$ 14,169	$ 12,553
Amortization of intangible assets	17,357	8,285	32,282	16,595
Depreciation and amortization, total	24,565	14,485	46,451	29,148
North America
Segment Reporting Information [Line Items]
Depreciation and amortization of property and equipment	6,170	5,495	12,243	11,143
Amortization of intangible assets	15,588	7,766	28,734	15,551
EMEA
Segment Reporting Information [Line Items]
Depreciation and amortization of property and equipment	900	603	1,657	1,199
Amortization of intangible assets	1,660	408	3,330	820
APAC
Segment Reporting Information [Line Items]
Depreciation and amortization of property and equipment	138	102	269	211
Amortization of intangible assets	$ 109	$ 111	$ 218	$ 224

Acquisition - Additional Inform

Acquisition - Additional Information (Detail) $ in Thousands				1 Months Ended	3 Months Ended	6 Months Ended
	May 01, 2024 USD ($)	Dec. 01, 2023 USD ($) Office Teammate	Aug. 17, 2023 USD ($)	Mar. 31, 2024 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Business Acquisition [Line Items]
Goodwill					$ 872,785	$ 872,785	$ 684,345
InfoCenter.io
Business Acquisition [Line Items]
Acquisition, percentage of issued and outstanding shares acquired	100%
Cash paid to acquire business	$ 265,000
Cash and cash equivalents acquired from acquisition	5,103
Cash purchase price	269,477
Adjustment to consideration transferred	626
Business combination, consideration transferred, liabilities incurred	2,299
Business combination, contingent consideration, liability	24,200
Seller incentive opportunity	106,250
Estimated fair value of net assets acquired	95,173
Identifiable intangible assets - see description below	$ 123,900
Economic life (in years)	10 years
Deferred tax liability	$ 31,832
Goodwill	$ 191,728
SADA Systems, LLC
Business Acquisition [Line Items]
Acquisition, percentage of issued and outstanding shares acquired		100%
Cash paid to acquire business		$ 424,870
Cash and cash equivalents acquired from acquisition		24,701
Cash purchase price		423,290
Business combination, contingent consideration, liability		21,288
Seller incentive opportunity		390,000
Estimated fair value of net assets acquired		308,187
Identifiable intangible assets - see description below		158,100
Goodwill		116,683
Business combination, consideration transferred		$ 399,762
Number of office | Office		3
Contractual adjustments		$ 1,173
Seller retention fund		5,000
Indemnification receivable					1,180	1,180
Stock-based compensation liabilities		68,335
Transaction costs		16,852
Goodwill adjustments						339
Decrease in fair value of earnout payments					20,684	20,219
SADA Systems, LLC | Customer Relationships
Business Acquisition [Line Items]
Identifiable intangible assets - see description below		$ 124,700
Finite-lived intangible asset, useful life		10 years
SADA Systems, LLC | Noncompete Agreements
Business Acquisition [Line Items]
Identifiable intangible assets - see description below		$ 26,200
SADA Systems, LLC | Trade Names
Business Acquisition [Line Items]
Finite-lived intangible asset, useful life		3 years
SADA Systems, LLC | Minimum
Business Acquisition [Line Items]
Number of teammates | Teammate		800
SADA Systems, LLC | Minimum | Noncompete Agreements
Business Acquisition [Line Items]
Finite-lived intangible asset, useful life		3 years
SADA Systems, LLC | Maximum | Noncompete Agreements
Business Acquisition [Line Items]
Finite-lived intangible asset, useful life		5 years
Amdaris
Business Acquisition [Line Items]
Acquisition, percentage of issued and outstanding shares acquired			100%
Cash paid to acquire business			$ 82,875
Estimated fair value of net assets acquired			34,060
Goodwill			71,698
Decrease in fair value of earnout payments					$ 4,464	$ 3,988
Earnout payment				$ 14,348
Intangible assets acquired			$ 41,291
Amdaris | Customer Relationships
Business Acquisition [Line Items]
Finite-lived intangible asset, useful life			10 years
Amdaris | Minimum
Business Acquisition [Line Items]
Business combination, contingent consideration, liability			$ 0
Amdaris | Maximum
Business Acquisition [Line Items]
Business combination, contingent consideration, liability			$ 54,391

Acquisition - Summary of Purcha

Acquisition - Summary of Purchase Price and Estimated Fair Value of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands	Dec. 01, 2023	Jun. 30, 2024	Dec. 31, 2023
Fair value of net assets acquired:
Excess purchase price over fair value of net assets acquired ("goodwill")		$ 872,785	$ 684,345
SADA Systems, LLC
Business Acquisition [Line Items]
Cash paid to acquire business	$ 424,870
Fair value of net assets acquired:
Current assets	346,885
Identifiable intangible assets - see description below	158,100
Property and equipment	2,266
Other assets	246,158
Current liabilities	(330,051)
Long-term liabilities, including long-term accounts payable	(115,171)
Total fair value of net assets acquired	308,187
Excess purchase price over fair value of net assets acquired ("goodwill")	$ 116,683

Assets Held for Sale (Detail)

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