| Basis of Presentation and Summary of Significant Accounting Policies | 2. Basis of Presentation and Summary of Significant Accounting
Policies B eginning
in the first quarter of 2017, our financial results do not consolidate the financial results of sales made under some customer
contracts we purchased in the En Pointe acquisition, which are now held by a partner which qualifies for certification as a minority
and women owned business in accordance with customer supplier diversity policies. We hold a 49% passive equity interest in this
partner and we have accounted for our investment in this partner using the equity method of accounting beginning in the first quarter
of 2017. We refer to this entity as the non-controlled entity or NCE. Principles of Consolidation The accompanying financial statements included
herein are presented on a consolidated basis and include our accounts and the accounts of all of our wholly-owned subsidiaries
after elimination of intercompany accounts and transactions. Use of Estimates in the Preparation of the Consolidated Financial
Statements We prepare our consolidated financial statements
in conformity with accounting principles generally accepted in the United States of America, which requires management to make
estimates, judgments and assumptions that affect the amounts reported herein. Management bases its estimates, judgments and assumptions
on historical experience and on various other factors that are believed to be reasonable under the circumstances. Due to the inherent
uncertainty involved in making estimates, actual results reported in future periods could differ from those estimates. Revenue Recognition We adhere to the guidelines and principles of
revenue recognition described in ASC 605 — Revenue Recognition For all product sales shipped directly from
suppliers to customers, we take title to the products sold upon shipment, bear credit risk, and bear inventory risk for returned
products that are not successfully returned to suppliers; therefore, these revenues are recognized at gross sales amounts. We also sell certain products for which we act
as an agent in accordance with ASC 605-45. Products in this category include the sale of third-party services, warranties, software
assurance (“SA”) and subscriptions. SA is an “insurance” or “maintenance” product that allows
customers to upgrade, at no additional cost, to the latest technology if new applications are introduced during the period that
the SA is in effect. These sales do not meet the criteria for gross sales recognition, and thus are recognized on a net basis at
the time of sale. Under net sales recognition, the cost paid to the vendor or third-party service provider is recorded as a reduction
to sales, resulting in net sales being equal to the gross profit on the transaction. Some of our larger customers are offered the
opportunity by certain of our vendors to purchase software licenses and SA under enterprise agreements (“EAs”). Under
EAs, customers are considered to be compliant with applicable license requirements for the ensuing year, regardless of changes
to their employee base. Customers are charged an annual true-up fee for changes in the number of users over the year. With most
EAs, our vendors will transfer the license and invoice the customer directly, paying us an agency fee or commission on these sales.
We record these fees as a component of net sales as earned and there is no corresponding cost of sales amount. In certain instances,
we invoice the customer directly under an EA and accounts for the individual items sold based on the nature of the item. Our vendors
typically dictate how the EA will be sold to the customer. When a customer order contains multiple deliverables
such as hardware, software and services which are delivered at varying times, we determine whether the delivered items can be considered
separate units of accounting as prescribed under ASC 605-25, Revenue Recognition, Multiple-Element Arrangements Revenue from professional services is either
recognized as incurred for services billed at an hourly rate or recognized using the proportional performance method for services
provided at a fixed fee. Revenue for data center services, including internet connectivity, web hosting, server co-location and
managed services, is recognized over the period the service is performed. Sales are reported net of estimated returns and
allowances, discounts, mail-in rebate redemptions and credit card chargebacks. If the actual sales returns, allowances, discounts,
mail-in rebate redemptions or credit card chargebacks are greater than estimated by management, additional expense may be incurred. Cost of Goods Sold Cost of goods sold includes product costs, outbound
and inbound shipping costs and costs of delivered services, offset by certain market development funds, volume incentive rebates
and other consideration from vendors. We receive consideration from our vendors in
the form of cooperative marketing allowances, volume incentive rebates and other programs to support our marketing of their products.
Most of our vendor consideration is accrued, when performance required for recognition is completed, as an offset to cost of sales
in accordance with ASC 605-50, Revenue Recognition — Customer Payments and Incentives, Cash and Cash Equivalents All highly liquid investments with initial maturities
of three months or less and credit card receivables with settlement terms less than 5 days are considered cash equivalents. Amounts
due from credit card processors classified as cash totaled $4.0 million and $4.6 million at December 31, 2017 and 2016. Checks
issued but not presented for payment to the bank, net of available cash subject to a right of offset, totaling $8.6 million and
$5.4 million as of December 31, 2017 and 2016 were included in “Accounts payable” in our Consolidated Balance Sheets.
Our cash management programs result in utilizing available cash to pay down our line of credit. Accounts Receivable We generate the majority of our accounts receivable
through the sale of products and services to certain customers on account. In addition, we record vendor receivables at such time
as all conditions have been met that would entitle us to receive such vendor funding, and is thereby considered fully earned. The following table presents the gross amounts
of our accounts receivable (in thousands):
At December 31,
2017 2016
Trade receivables $ 380,990 $ 320,321
Vendor receivables 41,185 35,482
Other receivables 19,664 3,978
Total gross accounts receivable 441,839 359,781
Less: Allowance for doubtful accounts receivable (2,181 ) (832 )
Accounts receivable, net $ 439,658 $ 358,949 As of December 31, 2017 and 2016, “Vendor
receivables” presented above included $23.6 million and $22.6 million, respectively, of unbilled receivables relating to
vendor consideration, which is described above under “Cost of Goods Sold.” Accounts receivable potentially subject us to
credit risk. We extend credit to our customers based upon an evaluation of each customer’s financial condition and credit
history, and generally do not require collateral. No customer accounted for more than 10% of trade accounts receivable at December
31, 2017 and 2016. We maintain an allowance for doubtful accounts receivable based upon estimates of future collection. We regularly
evaluate our customers’ financial condition and credit history in determining the adequacy of our allowance for doubtful
accounts. We have historically incurred credit losses within management’s expectations. We also maintain an allowance for
uncollectible vendor receivables, which arise from vendor rebate programs, price protections and other promotions. We determine
the sufficiency of the vendor receivable allowance based upon various factors, including payment history. Amounts received from
vendors may vary from amounts recorded because of potential non-compliance with certain elements of vendor programs. If the estimated
allowance for uncollectible accounts or vendor receivables subsequently proves to be insufficient, additional allowance may be
required. Inventories Inventories consist primarily of finished goods,
and are stated at the lower of cost (determined under the first-in, first-out method) or market. As discussed under “Revenue
Recognition” above, we do not record revenue and related cost of goods sold until there is persuasive evidence of an arrangement
for sale, delivery has occurred, the sales price is fixed and determinable and collectability is reasonably assured. As such, inventories
include goods-in-transit to customers at December 31, 2017 and 2016. A substantial portion of our business is dependent
on sales of Cisco, HP Inc. and Microsoft products as well as products purchased from other vendors including Apple, Dell, Hewlett
Packard Enterprise, Ingram Micro, Lenovo, Synnex and Tech Data. Our top sales of products by manufacturer as a percent of our gross
billed sales were as follows for the periods presented:
Years Ended December 31,
2017 2016 2015
Microsoft 15 % 15 % 14 %
HP Inc. 10 10 11 Advertising Costs Our advertising expenditures are expensed in
the period incurred. Total net advertising expenses, which were included in “Selling, general and administrative expenses”
in our Consolidated Statements of Operations, were $5.3 million, $4.2 million and $4.4 million in the years ended December 31,
2017, 2016 and 2015, respectively. Property and Equipment Property and equipment are stated at cost and
are depreciated using the straight-line method over the estimated useful lives of the assets, as noted below. Leasehold improvements
are amortized over the shorter of their useful lives or the remaining lease term. We also capitalize computer software costs that
meet both the definition of internal-use software and defined criteria for capitalization in accordance with ASC 350-40, Internal-Use
Software
Autos 3 – 5 years
Computers, software, machinery and equipment 1 – 7 years
Leasehold improvements 1 – 10 years
Furniture and fixtures 3 – 15 years
Building and improvements 5 – 31 years We had $4.5 million and $4.2 million of remaining
unamortized internally developed software at December 31, 2017 and 2016, respectively. Disclosures About Fair Value of Financial Instruments The carrying amounts of our cash and cash equivalents,
accounts receivable, accounts payable and accrued expenses and other current liabilities approximate their fair values because
of the short-term maturity of these instruments. The carrying amounts of our line of credit borrowings and notes payable approximate
their fair values based upon the current rates offered to us for obligations of similar terms and remaining maturities. Goodwill and Intangible Assets Goodwill and indefinite-lived intangible assets
are carried at historical cost, subject to write-down, as needed, based upon an impairment analysis that we perform annually, or
sooner if an event occurs or circumstances change that would more likely than not result in an impairment loss. We perform our
annual impairment test for goodwill and indefinite-lived intangible assets as of October 1 of each year. Goodwill impairment is deemed to exist if the
net book value of a reporting unit exceeds its estimated fair value. Events that may create an impairment include, but are not
limited to, significant and sustained decline in our stock price or market capitalization, significant underperformance of operating
units and significant changes in market conditions. Changes in estimates of future cash flows or changes in market values could
result in a write-down of our goodwill in a future period. If an impairment loss results from any impairment analysis as described
above, such loss will be recorded as a pre-tax charge to our operating income. Goodwill is allocated to various reporting units,
which are generally an operating segment or one level below the operating segment. At October 1, 2017, our goodwill resided in
our Abreon, Commercial Technology, Public Sector and Canada reporting units. Goodwill impairment testing is a two-step process.
Step one involves comparing the fair value of our reporting units to their carrying amount. If the fair value of the reporting
unit is greater than its carrying amount, there is no impairment and no further testing is required. If the reporting unit’s
carrying amount is greater than the fair value, the second step must be completed to measure the amount of impairment, if any.
Step two calculates the implied fair value of goodwill by deducting the fair value of all tangible and intangible assets, excluding
goodwill, net of any assumed liabilities, of the reporting unit from the fair value of the reporting unit as determined in step
one. The implied fair value of goodwill determined in this step is compared to the carrying value of goodwill. If the implied fair
value of goodwill is less than the carrying value of goodwill, an impairment loss is recognized equal to the difference. We performed our annual impairment analysis
of goodwill and indefinite-lived intangible assets for possible impairment as of October 1, 2017. Our annual impairment analysis
excluded goodwill associated with acquisitions made during the third and fourth quarter of 2017, as their purchase price allocations
were completed subsequent to the analysis date, and their operations have not had sufficient operating time to suggest any triggering
event would have occurred. Our management, with the assistance of an independent third-party valuation firm, determined the
fair values of our reporting units and their underlying assets, and compared them to their respective carrying values. Goodwill
represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired
in each business combination. The carrying value of goodwill was allocated to our reporting units pursuant to ASC 350. As a result
of our annual impairment analysis as of October 1, 2017, we have determined that no impairment of goodwill and other indefinite-lived
intangible assets existed. Fair value was determined by using a weighted
combination of a market-based approach and an income approach, as this combination was deemed to be the most indicative of fair
value in an orderly transaction between market participants. Under the market-based approach, we utilized information regarding
our company and publicly available comparable company and industry information to determine cash flow multiples and revenue multiples
that are used to value our reporting units. Under the income approach, we determined fair value based on estimated future cash
flows of each reporting unit, discounted by an estimated weighted-average cost of capital, which reflects the overall level of
inherent risk of a reporting unit and the rate of return an outside investor would expect to earn. In addition, the fair value of our indefinite-lived
trademark was determined using the relief from royalty method under the income approach to value. This method applies a market
based royalty rate to projected revenues that are associated with the trademarks. Applying the royalty rate to projected revenues
resulted in an indication of the pre-tax royalty savings associated with ownership of the trademarks. Projected after-tax royalty
savings were discounted to present value at the reporting unit’s weighted average cost of capital, and a tax amortization
benefit (calculated based on a 15-year life for tax purposes) was added. In conjunction with our annual assessment of
goodwill, our valuation techniques did not indicate any impairment as of October 1, 2017. All reporting units with goodwill
passed the first step of the goodwill evaluation, with the fair values of our Abreon, Commercial Technology, Public Sector and
Canada reporting units exceeding their respective carrying values by 56%, 46%, 63% and 103% and, accordingly, we were not required
to perform the second step of the goodwill evaluation. We had $7.2 million, $62.5 million, $8.3 million and $6.5 million of goodwill
as of October 1, 2017 residing in our Abreon, Commercial Technology, Public Sector and Canada reporting units, respectively. In
applying the market and income approaches to determining fair value of our reporting units, we rely on a number of significant
assumptions and estimates including revenue growth rates and operating margins, discount rates and future market conditions, among
others. Our estimates are based upon assumptions we believe to be reasonable, but which by nature are uncertain and unpredictable. Changes
in one or more of these significant estimates or assumptions could affect the results of these impairment reviews. As part of our annual review for impairment,
we assessed the total fair values of the reporting units and compared total fair value to our market capitalization at October
1, 2017, including the implied control premium, to determine if the fair values are reasonable compared to external market indicators.
When comparing our market capitalization to the discounted cash flow models for each reporting unit summed together, the implied
control premium was approximately 34% as of October 1, 2017. We believe several factors are contributing to our low market capitalization,
including the lack of trading volume in our stock and the recent significant investments made in various parts of our business
and their effects on analyst earnings models. Given continuing economic uncertainties and
related risks to our business, there can be no assurance that our estimates and assumptions made for purposes of our goodwill and
indefinite-lived intangible assets impairment testing as of October 1, 2017 will prove to be accurate predictions of the future.
We may be required to record additional goodwill impairment charges in future periods, whether in connection with our next annual
impairment testing as of October 1, 2018 or prior to that, if any change constitutes a triggering event outside of the quarter
from when the annual goodwill and indefinite-lived intangible assets impairment test is performed. It is not possible at this time
to determine if any such future impairment charge would result or, if it does, whether such charge would be material. We amortize other intangible assets with definite
lives generally on a straight-line basis over their estimated useful lives, or in the case of customer relationships, based on
a relative percentage of annual discounted cash flows expected to be delivered by the asset over its estimated useful life. Valuation of Long-Lived Assets We review long-lived assets and certain intangible
assets for impairment when events or changes in circumstances indicate the carrying amount of an asset may not be recoverable.
In the event the undiscounted future cash flow attributable to the asset is less than the carrying amount of the asset, an impairment
loss is recognized based on the amount by which the carrying value exceeds the fair value of the long-lived asset. Changes in estimates
of future cash flows attributable to the long-lived assets could result in a write-down of the asset in a future period. Debt Issuance Costs We defer costs incurred to obtain our credit
facility as an asset and amortize these deferred costs to interest expense using the straight-line method over the term of the
respective obligation. Income Taxes We account for income taxes under the assets
and liability method as prescribed in accordance with ASC 740 - Income Taxes We account for uncertainty in income taxes recognized
in financial statements in accordance with ASC 740, which prescribes a recognition threshold and measurement attribute for the
financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. ASC 740 also provides
guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition. Only
tax positions that meet the more-likely-than-not recognition threshold may be recognized. We have elected to classify interest
and penalties related to income tax liabilities, when applicable, as part of “Interest expense, net” in our Consolidated
Statements of Operations. Sales Taxes We present sales tax we collect from our customers
on a net basis (excluded from our revenues), a presentation which is prescribed as one of two methods available under ASC 605-45-50-3
(Taxes Collected from Customers and Remitted to Governmental Authorities). Stock-Based Compensation We account for stock-based compensation in accordance
with ASC 718 - Compensation - Stock Compensation We estimate the grant date fair value of each
stock option grant awarded using the Black-Scholes option pricing model and management assumptions made regarding various factors,
including expected volatility of our common stock, expected life of options granted and estimated forfeiture rates, which require
use of accounting judgment and financial estimates. We compute the expected term based upon an analysis of historical exercises
of stock options by our employees. We compute our expected volatility using historical prices of our common stock for a period
equal to the expected term of the options. The risk-free interest rate is determined using the implied yield on U.S. Treasury issues
with a remaining term within the contractual life of the award. We account for forfeitures as they occur. Any material change in
the estimates used in calculating the stock-based compensation expense could result in a material impact on our results of operations. Foreign Currency Translation The local currency of our foreign operations
is their functional currency. The financial statements of our foreign subsidiaries are translated into U.S. dollars in accordance
with ASC 830-30. Accordingly, the assets and liabilities of our Canadian and Philippine subsidiaries are translated into U.S. dollars
at the exchange rate in effect at the balance sheet dates. Income and expense items are translated at the average exchange rate
for each month within the year. The resulting translation adjustments are recorded in “Accumulated other comprehensive income
(loss),” a separate component of stockholders’ equity on our Consolidated Balance Sheets. All transaction gains or
losses are recorded in “Selling, general and administrative expenses” on our Consolidated Statements of Operations,
and we recorded gains of $25,000, $0.2 million and a loss of $0.7 million for the years ended December 31, 2017, 2016 and 2015,
respectively. Recent Accounting Pronouncements In January 2017, the Financial Accounting Standards
Board (“FASB”) issued ASU No. 2017-04, “Intangibles – Goodwill and Other (Topic 350): Simplifying the Test
for Goodwill Impairment,” which simplified the testing of goodwill for impairment by eliminating Step 2 from the goodwill
impairment test. Step 2 measured a goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill
with the carrying amount of that goodwill. ASU 2017-04 is effective for public companies for its annual or any interim goodwill
impairment tests in fiscal years beginning after December 15, 2019. We are currently evaluating the effects that the adoption of
ASU 2017-04 will have on our consolidated financial statements. In January 2017, the FASB issued ASU No. 2017-01,
“Business Combinations (Topic 805): Clarifying the Definition of a Business,” which provides a more robust framework
to use in determining when a set of assets and activities is a business. ASU 2017-01 provides a more narrow definition of what
is referred to as outputs and align it with how outputs are described in Topic 606 in order to narrow the broad interpretations
of the definition of a business. ASU 2017-01 is effective for public companies in their annual periods beginning after December
15, 2017, including interim periods within those periods. We are currently evaluating the effects that the adoption of ASU 2017-01
will have on our consolidated financial statements. In August 2016, the FASB issued ASU No. 2016-15,
“Statement of Cash Flows (Topic 230) – Classification of Certain Cash Receipts and Cash Payments,” which aims
to eliminate the diversity in practice related to classification of eight types of cash flows. ASU 2016-15 is effective for public
companies for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. We are currently
evaluating the effects that the adoption of ASU 2016-15 will have on our consolidated financial statements. In March 2016, the FASB issued ASU No. 2016-09,
“Compensation – Stock Compensation (Topic 718) - Improvements to Employee Share-Based Accounting,” which simplifies
several aspects of accounting for employee share-based payment transactions, including the accounting for income taxes, the calculation
of diluted earnings per share, forfeitures, and statutory state tax withholding requirements, as wells as classification in statement
of cash flows. We adopted ASU 2016-09 effective January 1, 2017 using the prospective method to recognize excess tax benefits and
deficits in our consolidated statements of operations, and using the retrospective method relating to classification of excess
tax benefits on our consolidated statements of cash flows. Also, we made an accounting policy election, on a modified prospective
basis, to recognize forfeitures as they occur and cease estimating expected forfeitures. As a result of adopting ASU 2016-09, in
2017 we recorded a credit to income tax expense of approximately $2.7 million related to the excess tax benefits associated with
the exercise of stock options and vesting of restricted stock units on our consolidated statement of operations, and we reclassified
$0.9 million and $0.2 million from cash flows from financing activities to cash flows from operating activities for 2016 and 2015,
respectively, to conform to our current period presentation. Also, we recorded a $94,000 cumulative effect adjustment to retained
earnings as of January 1, 2017 as a result of our accounting policy election relating to forfeitures. We anticipate ongoing income
tax expense volatility as a result of the adoption of this standard. In February 2016, the FASB issued ASU No. 2016-02,
“Leases (Topic 842)” which requires lessees to recognize right-of-use assets and lease liability, initially measured
at present value of the lease payments, on its balance sheet for leases with terms longer than 12 months and classified as either
financing or operating leases. ASU 2016-02 requires a modified retrospective transition approach for capital and operating leases
existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, and
provides certain practical expedients that companies may elect. ASU 2016-02 is effective for public companies for fiscal years
beginning after December 15, 2018, including interim periods within those fiscal years. We are currently evaluating the effects
that the adoption of ASU 2016-02 will have on our consolidated financial statements. In November 2015, the FASB issued ASU No. 2015-17,
“Balance Sheet Classification of Deferred Taxes,” which requires all deferred tax assets and liabilities, and any related
valuation allowance, to be classified as non-current on the balance sheet. The classification change for all deferred taxes as
non-current simplifies entities’ processes as it eliminates the need to separately identify the net current and net non-current
deferred tax asset or liability in each jurisdiction and allocate valuation allowances. We adopted ASU 2015-17 effective January
1, 2017 on a retrospective basis. As a result of the adoption, we reclassified current deferred tax assets of $3.6 million and
current deferred tax liabilities of $0.6 million included in our balance sheet as of December 31, 2016 to noncurrent. There was
no impact on our results of operations or our cash flows as a result of the adoption of ASU 2015-17. In July 2015, the FASB issued ASU 2015-11,
“Inventory (Topic 330) - Simplifying the Measurement of Inventory,” which requires that inventory within the scope
of the guidance be measured at the lower of cost and net realizable value. Net realizable value is the estimated selling prices
in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. ASU 2015-11
applies to inventory that is measured using first-in, first-out (FIFO) or average cost. We adopted ASU 2015-11 effective January
1, 2017 and it did not have a material effect on our consolidated financial statements. In May 2014, the FASB issued ASU 2014-09, Revenue
from Contracts with Customers (Topic 606), which, along with amendments issued in 2015 and 2016, will replace most existing revenue
recognition guidance under GAAP and eliminate industry specific guidance. The core principle of the new guidance is that an entity
should recognize revenue for the transfer of goods and services equal to an amount it expects to be entitled to receive for those
goods and services. The new guidance permits two methods of adoption: retrospectively to each prior reporting period presented
(full retrospective method), or retrospectively by recognizing the cumulative effect of initially applying the guidance to all
contracts existing at the date of initial application (the modified retrospective method). The ASU, as amended, was effective beginning
in the first quarter of 2018. We have engaged resources and created a cross-functional implementation team to analyze the effect
of the new guidance and communicate its findings and progress to management and the audit committee. We have assessed all potential
impacts of the standard on our contract portfolio by reviewing the current accounting policies and practices utilized to identify
potential differences that would result from applying the requirements of the new standard to our various contracts. We adopted
the guidance on January 1, 2018 using the full retrospective method. We have finalized the accounting policies under the new guidance
and determined it to impact two revenue streams as follows:
●
the timing of revenue recognition of product in transit
to customers
●
the gross vs. net treatment of certain security software revenues
● The accounting for revenue related to hardware, software (excluding the above) and services will remain unchanged. We expect the adoption of ASU 2014-09 will
impact our financial results as follows (in millions, except per share amounts):
Year Ended December 31, 2017 Year Ended December 31, 2016
As Reported New Revenue Recognition Standard Adjustment As Adjusted As Reported New Revenue Recognition Standard Adjustment As Adjusted
Net sales $ 2,193,436 $ (26,549 ) $ 2,166,887 $ 2,250,587 $ (11,030 ) $ 2,239,557
Gross profit 325,722 (994 ) 324,728 318,801 126 318,927
Gross profit margin 14.85 % 14bps 14.99 % 14.17 % 8bps 14.24 %
Operating profit $ 11,441 $ (813 ) $ 10,628 $ 34,791 $ 110 $ 34,901
Income tax expense 984 (317 ) 667 11,115 43 11,158
Net income 3,091 (496 ) 2,595 17,593 67 17,660
Earnings per common share:
Basic $ 0.25 $ (0.04 ) $ 0.21 $ 1.49 $ 0.01 $ 1.49 (1)
Diluted 0.24 (0.04 ) 0.20 1.40 0.01 1.41 (1) Amount does not foot across due to rounding.
At December 31, 2016
As Reported New Revenue Recognition Standard Adjustment As Adjusted
Accounts receivable, net $ 358,949 $ 9,647 $ 368,596
Inventories 80,872 (8,653 ) 72,219
Total current assets 469,055 994 470,049
Total assets 629,810 994 630,804
Accounts payable 276,524 180 276,704
Total current liabilities 474,052 180 474,232
Deferred income tax liabilities 1,498 317 1,815
Total liabilities 501,339 498 501,837
Retained earnings 28,251 496 28,747
Total stockholders’ equity 128,471 496 128,967
Total liabilities and stockholders’ equity 629,810 994 630,804 The adoption of ASU 2014-09 did not impact
our consolidated balance sheet as of December 31, 2017 and cash flow provided by operating activities for the years ended December
31, 2017 and 2016. |
