Insight Enterprises (NSIT) 10-Q3 Nov 222022 Q3 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 30, 2022	Oct. 28, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	0-25092
Entity Registrant Name	INSIGHT ENTERPRISES, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	86-0766246
Entity Address, Address Line One	2701 E. Insight Way
Entity Address, City or Town	Chandler
Entity Address, State or Province	AZ
Entity Address, Postal Zip Code	85286
City Area Code	480
Local Phone Number	333-3000
Title of 12(b) Security	Common stock, par value $0.01
Trading Symbol	NSIT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		34,831,155
Entity Central Index Key	0000932696
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Amendment Flag	false

Consolidated Balance Sheets (un

Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 136,653	$ 103,840
Accounts receivable, net of allowance for doubtful accounts of $15,221 and $16,941, respectively	3,047,739	2,936,732
Inventories	367,913	328,101
Other current assets	232,355	199,638
Total current assets	3,784,660	3,568,311
Property and equipment, net of accumulated depreciation and amortization of $213,557 and $233,786, respectively	201,269	176,263
Goodwill	493,618	428,346
Intangible assets, net of accumulated amortization of $133,623 and $110,909, respectively	211,806	214,788
Other assets	306,361	301,372
Total assets	4,997,714	4,689,080
Current liabilities:
Accounts payable—trade	1,525,638	1,779,854
Accounts payable—inventory financing facilities	331,982	311,878
Accrued expenses and other current liabilities	414,822	423,489
Current portion of long-term debt	594	36
Total current liabilities	2,273,036	2,515,257
Long-term debt	783,723	361,570
Deferred income taxes	36,723	47,073
Other liabilities	283,441	255,953
Total liabilities	3,376,923	3,179,853
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.01 par value, 3,000 shares authorized; no shares issued	0	0
Common stock, $0.01 par value, 100,000 shares authorized; 34,828 shares at September 30, 2022 and 34,897 shares at December 31, 2021 issued and outstanding	348	349
Additional paid-in capital	330,726	368,282
Retained earnings	1,366,124	1,167,690
Accumulated other comprehensive loss – foreign currency translation adjustments	(76,407)	(27,094)
Total stockholders’ equity	1,620,791	1,509,227
Total liabilities and stockholders' equity	$ 4,997,714	$ 4,689,080

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Allowance for doubtful accounts receivable	$ 15,221	$ 16,941
Accumulated depreciation and amortization of property and equipment	213,557	233,786
Accumulated amortization of intangible assets	$ 133,623	$ 110,909
Preferred stock, par value ( in usd per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	3,000,000	3,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	34,828,000	34,897,000
Common stock, shares outstanding (in shares)	34,828,000	34,897,000

Consolidated Statements of Oper

Consolidated Statements of Operations (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Net sales:
Total net sales	$ 2,534,354	$ 2,447,521	$ 7,928,581	$ 6,870,090
Costs of goods sold:
Total costs of goods sold	2,135,096	2,082,976	6,712,573	5,807,388
Gross profit	399,258	364,545	1,216,008	1,062,702
Operating expenses:
Selling and administrative expenses	308,253	278,998	911,894	827,275
Severance and restructuring expenses, net	720	2,396	2,784	(3,217)
Acquisition and integration related expenses	6	0	1,646	0
Earnings from operations	90,279	83,151	299,684	238,644
Non-operating (income) expense:
Interest expense, net	11,713	10,332	29,164	29,884
Other expense (income), net	1,790	(1,589)	(741)	(855)
Earnings before income taxes	76,776	74,408	271,261	209,615
Income tax expense	19,460	18,925	68,130	52,403
Net earnings	$ 57,316	$ 55,483	$ 203,131	$ 157,212
Net earnings per share:
Basic (in usd per share)	$ 1.64	$ 1.59	$ 5.80	$ 4.49
Diluted (in usd per share)	$ 1.58	$ 1.51	$ 5.53	$ 4.27
Shares used in per share calculations:
Basic (in shares)	34,952	34,855	35,003	35,050
Diluted (in shares)	36,340	36,745	36,714	36,860
Products
Net sales:
Total net sales	$ 2,169,197	$ 2,124,239	$ 6,828,726	$ 5,906,437
Costs of goods sold:
Total costs of goods sold	1,956,679	1,930,096	6,199,783	5,367,083
Gross profit	212,518	194,143	628,943	539,354
Services
Net sales:
Total net sales	365,157	323,282	1,099,855	963,653
Costs of goods sold:
Total costs of goods sold	178,417	152,880	512,790	440,305
Gross profit	$ 186,740	$ 170,402	$ 587,065	$ 523,348

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net earnings	$ 57,316	$ 55,483	$ 203,131	$ 157,212
Other comprehensive loss, net of tax:
Foreign currency translation adjustments	(30,577)	(11,676)	(49,313)	(6,228)
Total comprehensive income	$ 26,739	$ 43,807	$ 153,818	$ 150,984

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Treasury Stock	Additional Paid-in Capital	Additional Paid-in Capital Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Loss	Retained Earnings	Retained Earnings Cumulative Effect, Period of Adoption, Adjustment
Common stock, beginning balance (in shares) at Dec. 31, 2020			35,103
Treasury stock, beginning balance (in shares) at Dec. 31, 2020				0
Beginning balance at Dec. 31, 2020	$ 1,342,429	$ 0	$ 351	$ 0	$ 364,288		$ (15,455)	$ 993,245
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under employee stock plans, net of shares withheld for payroll taxes (in shares)			279
Issuance of common stock under employee stock plans, net of shares withheld for payroll taxes	(8,441)		$ 3		(8,444)
Stock-based compensation expense	13,950				13,950
Repurchase of treasury stock (in shares)				(497)
Repurchase of treasury stock	(50,000)			$ (50,000)
Retirement of treasury stock (in shares)			497	497
Retirement of treasury stock	0		$ (5)	$ 50,000	(5,095)			(44,900)
Foreign currency translation adjustments, net of tax	(6,228)						(6,228)
Net earnings	157,212							157,212
Common stock, ending balance (in shares) at Sep. 30, 2021			34,885
Treasury stock, ending balance (in shares) at Sep. 30, 2021				0
Ending balance at Sep. 30, 2021	$ 1,448,922		$ 349	$ 0	364,699		(21,683)	1,105,557
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible Enumeration]	Accounting Standards Update 2020-06
Common stock, beginning balance (in shares) at Jun. 30, 2021			34,845
Treasury stock, beginning balance (in shares) at Jun. 30, 2021				0
Beginning balance at Jun. 30, 2021	$ 1,401,827		$ 348	$ 0	361,412		(10,007)	1,050,074
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under employee stock plans, net of shares withheld for payroll taxes (in shares)			40
Issuance of common stock under employee stock plans, net of shares withheld for payroll taxes	(1,287)		$ 1		(1,288)
Stock-based compensation expense	4,575				4,575
Foreign currency translation adjustments, net of tax	(11,676)						(11,676)
Net earnings	55,483							55,483
Common stock, ending balance (in shares) at Sep. 30, 2021			34,885
Treasury stock, ending balance (in shares) at Sep. 30, 2021				0
Ending balance at Sep. 30, 2021	$ 1,448,922		$ 349	$ 0	364,699		(21,683)	1,105,557
Common stock, beginning balance (in shares) at Dec. 31, 2021	34,897		34,897
Treasury stock, beginning balance (in shares) at Dec. 31, 2021				0
Beginning balance at Dec. 31, 2021	$ 1,509,227	$ (26,942)	$ 349	$ 0	368,282	$ (44,731)	(27,094)	1,167,690	$ 17,789
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under employee stock plans, net of shares withheld for payroll taxes (in shares)			201
Issuance of common stock under employee stock plans, net of shares withheld for payroll taxes	(6,828)		$ 2		(6,830)
Stock-based compensation expense	16,524				16,524
Repurchase of treasury stock (in shares)				(270)
Repurchase of treasury stock	(25,008)			$ (25,008)
Retirement of treasury stock (in shares)			270	270
Retirement of treasury stock	0		$ (3)	$ 25,008	(2,519)			(22,486)
Foreign currency translation adjustments, net of tax	(49,313)						(49,313)
Net earnings	$ 203,131							203,131
Common stock, ending balance (in shares) at Sep. 30, 2022	34,828		34,828
Treasury stock, ending balance (in shares) at Sep. 30, 2022				0
Ending balance at Sep. 30, 2022	$ 1,620,791		$ 348	$ 0	330,726		(76,407)	1,366,124
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible Enumeration]	Accounting Standards Update 2020-06
Common stock, beginning balance (in shares) at Jun. 30, 2022			35,093
Treasury stock, beginning balance (in shares) at Jun. 30, 2022				0
Beginning balance at Jun. 30, 2022	$ 1,613,097		$ 351	$ 0	327,282		(45,830)	1,331,294
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under employee stock plans, net of shares withheld for payroll taxes (in shares)			5
Issuance of common stock under employee stock plans, net of shares withheld for payroll taxes	(127)		$ 0		(127)
Stock-based compensation expense	6,090				6,090
Repurchase of treasury stock (in shares)				(270)
Repurchase of treasury stock	(25,008)			$ (25,008)
Retirement of treasury stock (in shares)			270	270
Retirement of treasury stock	0		$ (3)	$ 25,008	(2,519)			(22,486)
Foreign currency translation adjustments, net of tax	(30,577)						(30,577)
Net earnings	$ 57,316							57,316
Common stock, ending balance (in shares) at Sep. 30, 2022	34,828		34,828
Treasury stock, ending balance (in shares) at Sep. 30, 2022				0
Ending balance at Sep. 30, 2022	$ 1,620,791		$ 348	$ 0	$ 330,726		$ (76,407)	$ 1,366,124

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities:
Net earnings	$ 203,131	$ 157,212
Adjustments to reconcile net earnings to net cash (used in) operating activities:
Depreciation and amortization	42,204	42,151
Provision for losses on accounts receivable	4,295	5,781
Non-cash stock-based compensation	16,524	13,950
Deferred income taxes	(5,554)	3,374
Amortization of debt discount and issuance costs	4,894	12,615
Other adjustments	933	(4,753)
Changes in assets and liabilities:
Increase in accounts receivable	(230,049)	(85,853)
Increase in inventories	(51,526)	(88,119)
Increase in other assets	(14,926)	(20,844)
Decrease in accounts payable	(171,257)	(119,525)
Decrease in accrued expenses and other liabilities	(4,554)	(33,777)
Net cash (used in) operating activities:	(205,885)	(117,788)
Cash flows from investing activities:
Proceeds from sale of assets	1,318	29,221
Purchases of property and equipment	(59,270)	(28,011)
Acquisitions, net of cash and cash equivalents acquired	(68,248)	0
Net cash (used in) provided by investing activities:	(126,200)	1,210
Cash flows from financing activities:
Net borrowings under inventory financing facilities	23,017	76,422
Repurchases of common stock	(25,008)	(50,000)
Other payments	(12,798)	(9,330)
Net cash provided by financing activities:	377,505	99,092
Foreign currency exchange effect on cash, cash equivalents and restricted cash balances	(12,710)	(3,601)
Increase (decrease) in cash, cash equivalents and restricted cash	32,710	(21,087)
Cash, cash equivalents and restricted cash at beginning of period	105,977	130,582
Cash, cash equivalents and restricted cash at end of period	138,687	109,495
ABL Facility
Cash flows from financing activities:
Borrowings on ABL revolving credit facility	3,825,923	3,167,044
Repayments on ABL revolving credit facility	$ (3,433,629)	$ (3,085,044)

Basis of Presentation and Recen

Basis of Presentation and Recently Issued Accounting Standards	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Recently Issued Accounting Standards	Basis of Presentation and Recently Issued Accounting Standards We empower organizations with technology, solutions and services to help our clients maximize the value of Information Technology (“IT”) today and drive (digital) transformation for tomorrow in North America; Europe, the Middle East and Africa (“EMEA”); and Asia-Pacific (“APAC”). As a Fortune 500-ranked global technology provider of end-to-end secure digital transformation solutions and services, we help clients innovate and optimize their operations to run smarter. Our company is organized in the following three operating segments, which are primarily defined by their related geographies: Operating Segment Geography North America United States and Canada EMEA Europe, Middle East and Africa APAC Asia-Pacific Our offerings in North America and certain countries in EMEA and APAC include hardware, software and services, including cloud solutions. Our offerings in the remainder of our EMEA and APAC segments are largely software and certain software-related services and cloud solutions. In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments necessary to present fairly our financial position as of September 30, 2022 and our results of operations for the three and nine months ended September 30, 2022 and 2021 and cash flows for the nine months ended September 30, 2022 and 2021. The consolidated balance sheet as of December 31, 2021 was derived from the audited consolidated balance sheet at such date. The accompanying unaudited consolidated financial statements and notes have been prepared in accordance with the rules and regulations promulgated by the SEC and consequently do not include all of the disclosures normally required by United States generally accepted accounting principles (“GAAP”). The results of operations for interim periods are not necessarily indicative of results for the full year, due in part to the seasonal nature of our business. These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements, including the related notes thereto, in our Annual Report on Form 10-K for the year ended December 31, 2021. The consolidated financial statements include the accounts of Insight Enterprises, Inc. and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements. Additionally, these estimates and assumptions affect the reported amounts of net sales and expenses during the reporting period. Actual results could differ from those estimates. On an ongoing basis, we evaluate our estimates, including those related to sales recognition, anticipated achievement levels under partner funding programs, assumptions related to stock-based compensation valuation, allowances for doubtful accounts, valuation of inventories, litigation-related obligations, valuation allowances for deferred tax assets and impairment of long-lived assets, including purchased intangibles and goodwill, if indicators of potential impairment exist. Recently Issued Accounting Standards In August 2020, the Financial Accounting Standards Board issued ASU No. 2020-06, “Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity”. The new guidance is intended to simplify the accounting for certain convertible instruments with characteristics of both liability and equity. The guidance removed certain accounting models which separate the embedded conversion features from the host contract for convertible instruments. As a result, after the adoption of this guidance, an entity’s convertible debt instrument will be wholly accounted for as debt. The guidance also expanded disclosure requirements for convertible instruments and simplified areas of the guidance for diluted earnings-per-share calculations by requiring the use of the if-converted method. The guidance was effective for fiscal years beginning after December 15, 2021, and could have been adopted on either a fully retrospective or modified retrospective basis. The Company adopted this standard effective January 1, 2022, using the modified retrospective approach. Therefore, financial statements for the three and nine months ended September 30, 2022 are presented under the new standard, while the comparative period is not adjusted and is reported in accordance with the Company's old method of accounting. The adoption of ASU 2020-06 There have been no other material changes in or additions to the recently issued accounting standards as previously reported in Note 1 to our Consolidated Financial Statements in Part II, Item 8 of our Annual Report on Form 10-K for the year ended December 31, 2021 that affect or may affect our current financial statements.

Receivables, Contract Liabiliti

Receivables, Contract Liabilities and Performance Obligations	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Receivables, Contract Liabilities and Performance Obligations	Receivables, Contract Liabilities and Performance Obligations The following table provides information about receivables and contract liabilities as of September 30, 2022 and December 31, 2021 (in thousands): September 30, December 31, Current receivables, which are included in “Accounts receivable, net” $ 3,047,739 $ 2,936,732 Non-current receivables, which are included in “Other assets” 154,137 147,139 Contract liabilities, which are included in “Accrued expenses and other current liabilities” and “Other liabilities” 110,906 116,067 Changes in the contract liabilities balances during the nine months ended September 30, 2022 are as follows (in thousands): Increase (Decrease) Contract Balances at December 31, 2021 $ 116,067 Reclassification of the beginning contract liabilities to revenue, as the result of performance obligations satisfied (67,984) Cash received in advance and not recognized as revenue 62,823 Balances at September 30, 2022 $ 110,906 During the nine months ended September 30, 2021, the Company recognized revenue of $67,166,000 related to its contract liabilities. The following table includes estimated net sales related to performance obligations that are unsatisfied (or partially unsatisfied) as of September 30, 2022 that are expected to be recognized in the future (in thousands): Services Remainder of 2022 $ 57,389 2023 79,361 2024 29,001 2025 and thereafter 18,477 Total remaining performance obligations $ 184,228 With the exception of remaining performance obligations associated with our OneCall Support Services contracts which are included in the table above regardless of original duration, remaining performance obligations that have original expected durations of one year or less are not included in the table above. Amounts not included in the table above have an average original expected duration of nine months. Additionally, for our time and material services contracts, whereby we have the right to consideration from a client in an amount that corresponds directly with the value to the client of our performance completed to date, we recognized revenue in the amount to which we have a right to invoice as of September 30, 2022 and do not disclose information about related remaining performance obligations in the table above. Our time and material contracts have an average expected duration of 19 months. The majority of our backlog historically has been and continues to be open cancellable purchase orders. We do not believe that backlog as of any particular date is predictive of future results, therefore we do not include performance obligations under open cancellable purchase orders, which do not qualify for revenue recognition, in the table above.

Assets Held for Sale

Assets Held for Sale	9 Months Ended
Assets Held for Sale	Sep. 30, 2022
Property, Plant and Equipment Assets Held-for-sale Disclosure [Abstract]
Assets Held For Sale	Assets Held for SaleDuring the nine months ended September 30, 2021, we completed the sale of our three properties in Tempe, Arizona and the sale of our property in Woodbridge, Illinois for total net proceeds of approximately $27,211,000. We used the proceeds from the sales to ready our property in Chandler, Arizona to be used as our global corporate headquarters.

Net Earnings Per Share

Net Earnings Per Share	9 Months Ended
Net Earnings Per Share	Sep. 30, 2022
Earnings Per Share [Abstract]
Net Earnings Per Share	Net Earnings Per Share Basic EPS is computed by dividing net earnings available to common stockholders by the weighted average number of common shares outstanding during each period. Diluted EPS is computed on the basis of the weighted average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Dilutive potential common shares include outstanding restricted stock units (“RSUs”) and certain shares underlying the Notes. A reconciliation of the denominators of the basic and diluted EPS calculations follows (in thousands, except per share data): Three Months Ended Nine Months Ended 2022 2021 2022 2021 Numerator: Net earnings $ 57,316 $ 55,483 $ 203,131 $ 157,212 Denominator: Weighted average shares used to compute basic EPS 34,952 34,855 35,003 35,050 Dilutive potential common shares due to dilutive RSUs, net of tax effect 201 381 243 407 Dilutive potential common shares due to the Notes 1,187 1,509 1,468 1,403 Weighted average shares used to compute diluted EPS 36,340 36,745 36,714 36,860 Net earnings per share: Basic $ 1.64 $ 1.59 $ 5.80 $ 4.49 Diluted $ 1.58 $ 1.51 $ 5.53 $ 4.27 For the three and nine months ended September 30, 2022, 67,000 and 39,000, respectively, of our RSUs were excluded from the diluted EPS calculations and certain potential outstanding shares from the warrants relating to the Call Spread Transactions were excluded from the diluted EPS calculations because their inclusion would have been anti-dilutive. For the three and nine months ended September 30, 2021, 900 and 400, respectively, of our RSUs were excluded from the diluted EPS calculations and certain potential outstanding shares from the warrants related to the Call Spread Transactions were excluded from the diluted EPS calculations because their inclusion would have been anti-dilutive.

Debt, Inventory Financing Facil

Debt, Inventory Financing Facilities, Finance Leases and Other Financing Obligations	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Debt, Inventory Financing Facilities, Finance Leases and Other Financing Obligations	Debt, Inventory Financing Facilities, Finance Leases and Other Financing Obligations Debt Our long-term debt consists of the following (in thousands): September 30, December 31, ABL revolving credit facility $ 437,885 $ 53,000 Convertible senior notes due 2025 345,752 308,543 Finance leases and other financing obligations 680 63 Total 784,317 361,606 Less: current portion of long-term debt (594) (36) Long-term debt $ 783,723 $ 361,570 On July 22, 2022, we entered into the Third Amendment to the Credit Agreement (as amended, the "credit agreement") to modify our senior secured revolving credit facility (the “ABL facility”), increasing the maximum borrowing amount from $1,200,000,000 to $1,800,000,000, including a maximum borrowing capacity that could be used for borrowing in certain foreign currencies of $350,000,000 and extending the maturity date. From time to time and at our option, we may request to increase the aggregate amount available for borrowing under the ABL facility by up to an aggregate of the U.S. dollar equivalent of $750,000,000, subject to customary conditions, including receipt of commitments from lenders. The ABL facility is guaranteed by certain of our material subsidiaries and is secured by a lien on certain of our assets and certain of each other borrower’s and each guarantor’s assets. The ABL facility now provides for an uncommitted first-in, last-out revolving facility in an aggregate amount of up to $100,000,000 . The interest rates applicable to borrowings under the ABL facility are based on the average aggregate excess availability under the ABL facility as set forth on a pricing grid in the credit agreement. The ABL facility now matures on July 22, 2027. As of September 30, 2022, eligible accounts receivable and inventory were sufficient to permit access to the full $1,800,000,000 facility amount, of which $437,885,000 was outstanding. The ABL facility contains customary affirmative and negative covenants and events of default. If a default occurs (subject to customary grace periods and materiality thresholds) under the credit agreement, certain actions may be taken, including, but not limited to, possible termination of commitments and required payment of all outstanding principal amounts plus accrued interest and fees payable under the credit agreement. Convertible Senior Notes due 2025 In August 2019, we issued $350,000,000 aggregate principal amount of Notes that mature on February 15, 2025. The Notes bear interest at an annual rate of 0.75% payable semiannually, in arrears, on February 15 th and August 15 th of each year. The Notes are general unsecured obligations of Insight and are guaranteed on a senior unsecured basis by Insight Direct USA, Inc., a wholly owned subsidiary of Insight. Holders of the Notes may convert their notes at their option at any time prior to the close of business on the business day immediately preceding June 15, 2024, under the following circumstances: (1) during any calendar quarter commencing after the calendar quarter ending on December 31, 2020 (and only during such calendar quarter), if the last reported sale price of our common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day (the “market price trigger”); (2) during the five The Notes did not exceed the market price trigger of $88.82 in the third quarter of 2022 and as such, the Notes are not convertible at the option of the holders through December 31, 2022. All of the Notes remain outstanding at September 30, 2022. If the Notes exceed the market price trigger in future periods, they will become convertible at the option of the holders, and the principal amount will be classified as current. Upon conversion, we will pay or deliver cash equal to the principal amount of the Notes, plus shares of our common stock for any additional amounts due. The conversion rate will initially be 14.6376 shares of common stock per $1,000 principal amount of the Notes (equivalent to an initial conversion price of approximately $68.32 per share of common stock). The conversion rate is subject to change in certain circumstances and will not be adjusted for any accrued and unpaid interest. In addition, following certain events that occur prior to the maturity date or following our issuance of a notice of redemption, the conversion rate is subject to an increase for a holder who elects to convert their Notes in connection with those events or during the related redemption period in certain circumstances. If we undergo a fundamental change, the holders may require us to repurchase for cash all or any portion of their notes at a fundamental change repurchase price equal to 100% of the principal amount of the Notes to be repurchased, plus accrued and unpaid interest to, but excluding, the fundamental change repurchase date. As of September 30, 2022, none of the criteria for a fundamental change or a conversion rate adjustment had been met. The maximum number of shares issuable upon conversion, including the effect of a fundamental change and subject to other conversion rate adjustments, would be 6,788,208. The Notes are subject to certain customary events of default and acceleration clauses. As of September 30, 2022, no such events have occurred. The Notes consist of the following balances reported within the consolidated balance sheets (in thousands): September 30, December 31, Liability: Principal $ 350,000 $ 350,000 Less: debt discount and issuance costs, net of accumulated accretion (4,248) (41,457) Net carrying amount $ 345,752 $ 308,543 Equity, net of deferred tax $ — $ 44,731 As a result of our adoption of ASU 2020-06, effective January 1, 2022, we no longer reflect any debt discount on the Notes in our consolidated balance sheet, nor do we recognize amortization of debt discount within our consolidated statement of operations. Also in January 2022, we filed an irrevocable settlement election notice with the note holders to inform them of our election to settle the principal amount of the Notes in cash. As a result of this election, at period ends where the market price, or other conversion triggers are met, the Notes will be classified in our consolidated balance sheet as current. The remaining life of the debt issuance cost accretion is approximately 2.37 years. The effective interest rate on the principal of the Notes is 0.750%. Interest expense resulting from the Notes reported within the consolidated statement of operations for the three and nine months ended September 30, 2022 is made up of contractual coupon interest and amortization of debt issuance costs. Interest expense resulting from the Notes reported within the consolidated statement of operations for the three and nine months ended September 30, 2021 is made up of contractual coupon interest, amortization of debt discount and amortization of debt issuance costs. Convertible Note Hedge and Warrant Transaction In connection with the issuance of the Notes, we entered into the Call Spread Transactions with respect to the Company’s common stock. The convertible note hedge consists of an option to purchase up to 5,123,160 common stock shares at a price of $68.32 per share. The hedge expires on February 15, 2025 and can only be concurrently executed upon the conversion of the Notes. We paid approximately $66,325,000 for the convertible note hedge transaction. Additionally, we sold warrants to purchase 5,123,160 shares of common stock at a price of $103.12 per share. The warrants expire on May 15, 2025 and can only be exercised at maturity. The Company received aggregate proceeds of approximately $34,440,000 for the sale of the warrants. The Call Spread Transactions have no effect on the terms of the Notes and reduce potential dilution by effectively increasing the initial conversion price of the Notes to $103.12 per share of the Company’s common stock. Inventory Financing Facilities We have an unsecured inventory financing facility with MUFG Bank Ltd (“MUFG”) for $280,000,000. During the first quarter of 2022, we increased our maximum availability under our unsecured inventory financing facility with PNC Bank, N.A. (“PNC”) from $300,000,000 to $375,000,000, including the $25,000,000 facility in Canada (the "Canada facility"). We also increased our unsecured inventory financing facility with Wells Fargo in EMEA (the "EMEA facility") to $50,000,000. The inventory financing facilities will remain in effect until they are terminated by any of the parties. If balances are not paid within stated vendor terms, they will accrue interest at prime plus 2.00% on the MUFG facility, Canadian Dollar Offered Rate plus 4.50% on the Canada facility and LIBOR, EURIBOR, or SONIA, as applicable, plus 4.50% and 0.25% on the PNC (other than the Canada facility) and EMEA facilities, respectively. The PNC facility allows for an alternative rate to be identified if LIBOR is no longer available. Amounts outstanding under these facilities are classified separately as accounts payable – inventory financing facilities in the accompanying consolidated balance sheets and within cash flows from financing activities in the accompanying consolidated statements of cash flows.

Income Taxes

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Our effective tax rates for the three and nine months ended September 30, 2022 were 25.3% and 25.1%, respectively. Our effective tax rates were higher than the United States federal statutory rate of 21.0% due primarily to state income taxes and higher taxes on earnings in foreign jurisdictions, partially offset by tax benefits related to research and development activities. Our effective tax rates for the three and nine months ended September 30, 2021 were 25.4% and 25.0%, respectively. For the three months ended September 30, 2021, 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 tax benefits related to research and development activities. For the nine months ended September 30, 2021 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 and tax benefits related to research and development activities. As of September 30, 2022 and December 31, 2021, we had approximately $14,520,000 and $12,664,000, respectively, of unrecognized tax benefits. Of these amounts, approximately $1,588,000 and $1,250,000, respectively, related to accrued interest. In the future, if recognized, the liability associated with uncertain tax positions would affect our effective tax rate. We do not believe there will be any changes to our unrecognized tax benefits over the next 12 months that would have a material effect on our effective tax rate.

Share Repurchase Program

Share Repurchase Program	9 Months Ended
Share Repurchase Program	Sep. 30, 2022
Equity [Abstract]
Share Repurchase Program	Share Repurchase ProgramOn May 6, 2021, we announced that our Board of Directors had authorized the repurchase of up to $125,000,000 of our common stock. On September 19, 2022, we announced that our Board of Directors had authorized the repurchase of up to $300,000,000 of our common stock, including $50,000,000 that remained available from our prior authorization. As of September 30, 2022, approximately $300,000,000 remained available for repurchases under this share repurchase plan. Our share repurchases may be made on the open market, subject to Rule 10b-18 or in privately negotiated transactions, through block trades, through 10b5-1 plans or otherwise, at management’s discretion. The amount of shares purchased and the timing of the purchases will be based on market conditions, working capital requirements, general business conditions and other factors. We intend to retire the repurchased shares.During the nine months ended September 30, 2022, we repurchased 270,080 shares of our common stock on the open market at a total cost of $25,008,025 (an average price of $92.59 per share). During the nine months ended September 30, 2021, we repurchased 497,243 shares of our common stock on the open market at a total cost of $49,999,979 (an average price of $100.55 per share).

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Contractual In the ordinary course of business, we issue performance bonds to secure our performance under certain contracts or state tax requirements. As of September 30, 2022, we had approximately $27,743,000 of performance bonds outstanding. These bonds are issued on our behalf by a surety company on an unsecured basis; however, if the surety company is ever required to pay out under the bonds, we have contractually agreed to reimburse the surety company. Management believes that payments, if any, related to these performance bonds are not probable at September 30, 2022. Accordingly, we have not accrued any liabilities related to such performance bonds in our consolidated financial statements. Employment Contracts and Severance Plans We have employment contracts with, and severance plans covering, certain officers and management teammates under which severance payments would become payable in the event of specified terminations without cause or terminations under certain circumstances after a change in control. In addition, vesting of outstanding nonvested RSUs would accelerate following a change in control. If severance payments under the current employment agreements or plan payments were to become payable, the severance payments would generally range from three Indemnifications From time to time, in the ordinary course of business, we enter into contractual arrangements under which we agree to indemnify either our clients or third-party service providers from certain losses incurred relating to services performed on our behalf or for losses arising from defined events, which may include litigation or claims relating to past performance. These arrangements include, but are not limited to, the indemnification of our clients for certain claims arising out of our performance under our sales contracts, the indemnification of our landlords for certain claims arising from our use of leased facilities and the indemnification of the lenders that provide our credit facilities for certain claims arising from their extension of credit to us. Such indemnification obligations may not be subject to maximum loss clauses. Management believes that payments, if any, related to these indemnifications are not probable at September 30, 2022. Accordingly, we have not accrued any liabilities related to such indemnifications in our consolidated financial statements. We have entered into separate indemnification agreements with certain of our executive officers and with each of our directors. These agreements require us, among other requirements, to indemnify such officers and directors against expenses (including attorneys’ fees), judgments and settlements incurred by such individual in connection with any action arising out of such individual’s status or service as our executive officer or director (subject to exceptions such as where the individual failed to act in good faith or in a manner the individual reasonably believed to be in, or not opposed to, the best interests of the Company) and to advance expenses incurred by such individual with respect to which such individual may be entitled to indemnification by us. There are no pending legal proceedings that involve the indemnification of any of the Company’s directors or officers. Contingencies Related to Third-Party Review From time to time, we are subject to potential claims and assessments from third parties. We are also subject to various governmental, client and partner audits. We continually assess whether or not such claims have merit and warrant accrual. Where appropriate, we accrue estimates of anticipated liabilities in the consolidated financial statements. Such estimates are subject to change and may affect our results of operations and our cash flows. Legal Proceedings From time to time, we are party to various legal proceedings incidental to the business, including preference payment claims asserted in client bankruptcy proceedings, indemnification claims, claims of alleged infringement of patents, trademarks, copyrights and other intellectual property rights, employment claims, claims of alleged non-compliance with contract provisions and claims related to alleged violations of laws and regulations. We regularly evaluate the status of the legal proceedings in which we are involved to assess whether a loss is probable or there is a reasonable possibility that a loss, or an additional loss, may have been incurred and determine if accruals are required. If accruals are not required, we further evaluate each legal proceeding to assess whether an estimate of possible loss or range of possible loss can be made. Although litigation is inherently unpredictable, we believe that we have adequate provisions for any probable and estimable losses. It is possible, nevertheless, that our consolidated financial position, results of operations or liquidity could be materially and adversely affected in any particular period by the work required pursuant to any legal proceedings or the resolution of any legal proceedings during such period. Legal expenses related to defense of any legal proceeding or the negotiations, settlements, rulings and advice of outside legal counsel in connection with any legal proceedings are expensed as incurred. In connection with the acquisition of PCM, the Company has effectively assumed responsibility for PCM litigation matters, including various disputes related to PCM’s acquisition of certain assets of En Pointe Technologies in 2015. The seller of En Pointe Technologies and related entities providing various post-closing support functions to PCM have asserted claims regarding the sufficiency of earnout payments paid by PCM under the asset purchase agreement and the unwinding of the support functions post-closing. PCM has rejected and vigorously responded to those claims and is pursuing various counterclaims. The disputes are being heard

Segment Information

Segment Information	9 Months Ended
Segment Information	Sep. 30, 2022
Segment Reporting [Abstract]
Segment Information	Segment Information We operate in three reportable geographic operating segments: North America; EMEA; and APAC. Our offerings in North America and certain countries in EMEA and APAC include IT hardware, software and services, including cloud solutions. Our offerings in the remainder of our EMEA and APAC segments are largely software 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 nine months ended September 30, 2022 and 2021 (in thousands): Three Months Ended September 30, 2022 North America EMEA APAC Consolidated Major Offerings Hardware $ 1,404,207 $ 151,505 $ 16,563 $ 1,572,275 Software 396,921 184,361 15,640 596,922 Services 298,709 43,708 22,740 365,157 $ 2,099,837 $ 379,574 $ 54,943 $ 2,534,354 Major Client Groups Large Enterprise / Corporate $ 1,473,014 $ 295,565 $ 25,075 $ 1,793,654 Commercial 424,600 11,898 18,048 454,546 Public Sector 202,223 72,111 11,820 286,154 $ 2,099,837 $ 379,574 $ 54,943 $ 2,534,354 Revenue Recognition based on acting as Principal or Agent in the Transaction Gross revenue recognition (Principal) $ 1,990,277 $ 358,697 $ 46,763 $ 2,395,737 Net revenue recognition (Agent) 109,560 20,877 8,180 138,617 $ 2,099,837 $ 379,574 $ 54,943 $ 2,534,354 Three Months Ended September 30, 2021 North America EMEA APAC Consolidated Major Offerings Hardware $ 1,418,335 $ 160,645 $ 13,515 $ 1,592,495 Software 338,440 178,868 14,436 531,744 Services 263,101 41,935 18,246 323,282 $ 2,019,876 $ 381,448 $ 46,197 $ 2,447,521 Major Client Groups Large Enterprise / Corporate $ 1,447,246 $ 276,292 $ 21,947 $ 1,745,485 Commercial 384,458 13,209 17,277 414,944 Public Sector 188,172 91,947 6,973 287,092 $ 2,019,876 $ 381,448 $ 46,197 $ 2,447,521 Revenue Recognition based on acting as Principal or Agent in the Transaction Gross revenue recognition (Principal) $ 1,926,059 $ 358,981 $ 39,849 $ 2,324,889 Net revenue recognition (Agent) 93,817 22,467 6,348 122,632 $ 2,019,876 $ 381,448 $ 46,197 $ 2,447,521 Nine Months Ended September 30, 2022 North America EMEA APAC Consolidated Major Offerings Hardware $ 4,415,000 $ 517,512 $ 44,467 $ 4,976,979 Software 1,115,475 669,760 66,512 $ 1,851,747 Services 881,311 150,066 68,478 $ 1,099,855 $ 6,411,786 $ 1,337,338 $ 179,457 $ 7,928,581 Major Client Groups Large Enterprise / Corporate $ 4,509,731 $ 955,858 $ 77,934 $ 5,543,523 Commercial 1,314,733 49,631 50,159 1,414,523 Public Sector 587,322 331,849 51,364 970,535 $ 6,411,786 $ 1,337,338 $ 179,457 $ 7,928,581 Revenue Recognition based on acting as Principal or Agent in the Transaction Gross revenue recognition (Principal) $ 6,087,854 $ 1,254,980 $ 152,708 $ 7,495,542 Net revenue recognition (Agent) 323,932 82,358 26,749 433,039 $ 6,411,786 $ 1,337,338 $ 179,457 $ 7,928,581 Nine Months Ended September 30, 2021 North America EMEA APAC Consolidated Major Offerings Hardware $ 3,696,594 $ 527,022 $ 34,848 $ 4,258,464 Software 978,987 598,277 70,709 1,647,973 Services 758,705 152,359 52,589 963,653 $ 5,434,286 $ 1,277,658 $ 158,146 $ 6,870,090 Major Client Groups Large Enterprise / Corporate $ 3,838,627 $ 883,044 $ 66,686 $ 4,788,357 Commercial 1,091,247 50,908 46,054 1,188,209 Public Sector 504,412 343,706 45,406 893,524 $ 5,434,286 $ 1,277,658 $ 158,146 $ 6,870,090 Revenue Recognition based on acting as Principal or Agent in the Transaction Gross revenue recognition (Principal) $ 5,157,086 $ 1,190,283 $ 137,547 $ 6,484,916 Net revenue recognition (Agent) 277,200 87,375 20,599 385,174 $ 5,434,286 $ 1,277,658 $ 158,146 $ 6,870,090 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 nine months ended September 30, 2022 or 2021. A portion of our operating segments’ selling and administrative expenses arise from shared services and infrastructure that we have historically provided to them in order to realize economies of scale and to use resources efficiently. These expenses, collectively identified as corporate charges, include senior management expenses, internal audit, legal, tax, insurance services, treasury and other corporate infrastructure expenses. Charges are allocated to our operating segments, and the allocations have been determined on a basis that we consider to be a reasonable reflection of the utilization of services provided to or benefits received by the operating segments. The following tables present our results of operations by reportable operating segment for the periods indicated (in thousands): Three Months Ended September 30, 2022 North America EMEA APAC Consolidated Net sales: Products $ 1,801,128 $ 335,866 $ 32,203 $ 2,169,197 Services 298,709 43,708 22,740 365,157 Total net sales 2,099,837 379,574 54,943 2,534,354 Costs of goods sold: Products 1,618,297 309,218 29,164 1,956,679 Services 148,844 18,584 10,989 178,417 Total costs of goods sold 1,767,141 327,802 40,153 2,135,096 Gross profit 332,696 51,772 14,790 399,258 Operating expenses: Selling and administrative expenses 249,745 47,527 10,981 308,253 Severance and restructuring expenses 683 35 2 720 Acquisition and integration related expenses 6 — — 6 Earnings from operations $ 82,262 $ 4,210 $ 3,807 $ 90,279 Three Months Ended September 30, 2021 North America EMEA APAC Consolidated Net sales: Products $ 1,756,775 $ 339,513 $ 27,951 $ 2,124,239 Services 263,101 41,935 18,246 323,282 Total net sales 2,019,876 381,448 46,197 2,447,521 Costs of goods sold: Products 1,595,184 310,242 24,670 1,930,096 Services 128,710 15,759 8,411 152,880 Total costs of goods sold 1,723,894 326,001 33,081 2,082,976 Gross profit 295,982 55,447 13,116 364,545 Operating expenses: Selling and administrative expenses 219,714 50,062 9,222 278,998 Severance and restructuring expenses 1,999 397 — 2,396 Earnings from operations $ 74,269 $ 4,988 $ 3,894 $ 83,151 Nine Months Ended September 30, 2022 North America EMEA APAC Consolidated Net sales: Products $ 5,530,475 $ 1,187,272 $ 110,979 $ 6,828,726 Services 881,311 150,066 68,478 1,099,855 Total net sales 6,411,786 1,337,338 179,457 7,928,581 Costs of goods sold: Products 4,998,871 1,099,027 101,885 6,199,783 Services 429,869 52,222 30,699 512,790 Total costs of goods sold 5,428,740 1,151,249 132,584 6,712,573 Gross profit 983,046 186,089 46,873 1,216,008 Operating expenses: Selling and administrative expenses 728,833 151,225 31,836 911,894 Severance and restructuring expenses 1,472 1,310 2 2,784 Acquisition and integration related expenses 1,646 — — 1,646 Earnings from operations $ 251,095 $ 33,554 $ 15,035 $ 299,684 Nine Months Ended September 30, 2021 North America EMEA APAC Consolidated Net sales: Products $ 4,675,581 $ 1,125,299 $ 105,557 $ 5,906,437 Services 758,705 152,359 52,589 963,653 Total net sales 5,434,286 1,277,658 158,146 6,870,090 Costs of goods sold: Products 4,237,417 1,033,976 95,690 5,367,083 Services 368,501 48,671 23,133 440,305 Total costs of goods sold 4,605,918 1,082,647 118,823 5,807,388 Gross profit 828,368 195,011 39,323 1,062,702 Operating expenses: Selling and administrative expenses 640,420 159,466 27,389 827,275 Severance and restructuring expenses (4,361) 1,135 9 (3,217) Earnings from operations $ 192,309 $ 34,410 $ 11,925 $ 238,644 The following is a summary of our total assets by reportable operating segment (in thousands): September 30, December 31, North America $ 5,129,966 $ 4,920,220 EMEA 786,551 828,456 APAC 134,509 148,737 Corporate assets and intercompany eliminations, net (1,053,312) (1,208,333) Total assets $ 4,997,714 $ 4,689,080 We recorded the following pre-tax amounts, by reportable operating segment, for depreciation and amortization in the accompanying consolidated financial statements (in thousands): Three Months Ended Nine Months Ended 2022 2021 2022 2021 Depreciation and amortization of property and equipment: North America $ 5,769 $ 4,376 $ 14,918 $ 14,047 EMEA 531 1,141 2,006 3,575 APAC 149 148 465 432 6,449 5,665 17,389 18,054 Amortization of intangible assets: North America 8,468 7,372 23,172 22,229 EMEA 404 494 1,291 1,491 APAC 114 122 352 377 8,986 7,988 24,815 24,097 Total $ 15,435 $ 13,653 $ 42,204 $ 42,151

Acquisition

Acquisition	9 Months Ended
Acquisition	Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisition	Acquisition Effective June 1, 2022, we acquired 100 percent of the issued and outstanding shares of Hanu Software Solutions, Inc. and Hanu Software Solutions (India) Private Ltd. (collectively, “Hanu”) for a preliminary cash purchase price, net of cash and cash equivalents acquired, of approximately $68,248,000, excluding the estimated fair value of an earn out with a maximum value of $20,000,000 and hold backs for representations and warranties of approximately $8,501,000 to be paid in future periods. Hanu, a global leading cloud technology services and solutions provider, provides cloud solutions in the areas of applications and infrastructure, data and artificial intelligence, and cloud security, to hundreds of enterprise clients. Hanu is recognized as one of Microsoft’s top public cloud service partners globally. We believe this acquisition strengthens our service capabilities as a cloud solutions provider and is also a strategic investment in expanding our presence in India. The preliminary fair value of net assets acquired was approximately $22,639,000, including $24,750,000 of identifiable intangible assets, consisting primarily of customer relationships that will be amortized using the straight line method over the estimated economic life of ten years. The 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 could lead to an adjustment of the purchase price allocation. Goodwill acquired approximated $72,110,000 which was recorded in our North America operating segment.

Basis of Presentation and Rec_2

Basis of Presentation and Recently Issued Accounting Standards (Policies)	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Recently Issued Accounting Standards	Recently Issued Accounting Standards In August 2020, the Financial Accounting Standards Board issued ASU No. 2020-06, “Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity”. The new guidance is intended to simplify the accounting for certain convertible instruments with characteristics of both liability and equity. The guidance removed certain accounting models which separate the embedded conversion features from the host contract for convertible instruments. As a result, after the adoption of this guidance, an entity’s convertible debt instrument will be wholly accounted for as debt. The guidance also expanded disclosure requirements for convertible instruments and simplified areas of the guidance for diluted earnings-per-share calculations by requiring the use of the if-converted method. The guidance was effective for fiscal years beginning after December 15, 2021, and could have been adopted on either a fully retrospective or modified retrospective basis. The Company adopted this standard effective January 1, 2022, using the modified retrospective approach. Therefore, financial statements for the three and nine months ended September 30, 2022 are presented under the new standard, while the comparative period is not adjusted and is reported in accordance with the Company's old method of accounting. The adoption of ASU 2020-06 There have been no other material changes in or additions to the recently issued accounting standards as previously reported in Note 1 to our Consolidated Financial Statements in Part II, Item 8 of our Annual Report on Form 10-K for the year ended December 31, 2021 that affect or may affect our current financial statements.

Receivables, Contract Liabili_2

Receivables, Contract Liabilities and Performance Obligations (Tables)	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Summary of Information about Receivables and Contract Liabilities	The following table provides information about receivables and contract liabilities as of September 30, 2022 and December 31, 2021 (in thousands): September 30, December 31, Current receivables, which are included in “Accounts receivable, net” $ 3,047,739 $ 2,936,732 Non-current receivables, which are included in “Other assets” 154,137 147,139 Contract liabilities, which are included in “Accrued expenses and other current liabilities” and “Other liabilities” 110,906 116,067
Summary of Changes in Contract Liabilities from Contract with Customers	Changes in the contract liabilities balances during the nine months ended September 30, 2022 are as follows (in thousands): Increase (Decrease) Contract Balances at December 31, 2021 $ 116,067 Reclassification of the beginning contract liabilities to revenue, as the result of performance obligations satisfied (67,984) Cash received in advance and not recognized as revenue 62,823 Balances at September 30, 2022 $ 110,906
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 September 30, 2022 that are expected to be recognized in the future (in thousands): Services Remainder of 2022 $ 57,389 2023 79,361 2024 29,001 2025 and thereafter 18,477 Total remaining performance obligations $ 184,228

Net Earnings Per Share (Tables)

Net Earnings Per Share (Tables)	9 Months Ended
Net Earnings Per Share (Tables)	Sep. 30, 2022
Earnings Per Share [Abstract]
Reconciliation of Denominators of Basic and Diluted EPS Calculations	A reconciliation of the denominators of the basic and diluted EPS calculations follows (in thousands, except per share data): Three Months Ended Nine Months Ended 2022 2021 2022 2021 Numerator: Net earnings $ 57,316 $ 55,483 $ 203,131 $ 157,212 Denominator: Weighted average shares used to compute basic EPS 34,952 34,855 35,003 35,050 Dilutive potential common shares due to dilutive RSUs, net of tax effect 201 381 243 407 Dilutive potential common shares due to the Notes 1,187 1,509 1,468 1,403 Weighted average shares used to compute diluted EPS 36,340 36,745 36,714 36,860 Net earnings per share: Basic $ 1.64 $ 1.59 $ 5.80 $ 4.49 Diluted $ 1.58 $ 1.51 $ 5.53 $ 4.27

Debt, Inventory Financing Fac_2

Debt, Inventory Financing Facilities, Finance Leases and Other Financing Obligations (Tables)	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Long-Term Debt	Our long-term debt consists of the following (in thousands): September 30, December 31, ABL revolving credit facility $ 437,885 $ 53,000 Convertible senior notes due 2025 345,752 308,543 Finance leases and other financing obligations 680 63 Total 784,317 361,606 Less: current portion of long-term debt (594) (36) Long-term debt $ 783,723 $ 361,570
Schedule of Convertible Senior Notes Balances	The Notes consist of the following balances reported within the consolidated balance sheets (in thousands): September 30, December 31, Liability: Principal $ 350,000 $ 350,000 Less: debt discount and issuance costs, net of accumulated accretion (4,248) (41,457) Net carrying amount $ 345,752 $ 308,543 Equity, net of deferred tax $ — $ 44,731

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
Segment Information (Tables)	Sep. 30, 2022
Segment Reporting [Abstract]
Summary of Revenue Disaggregated by Reportable Operating Segments	In the following table, revenue is disaggregated by our reportable operating segments, which are primarily defined by their related geographies, as well as by major product offering, by major client group and by recognition on either a gross basis as a principal in the arrangement, or on a net basis as an agent, for the three and nine months ended September 30, 2022 and 2021 (in thousands): Three Months Ended September 30, 2022 North America EMEA APAC Consolidated Major Offerings Hardware $ 1,404,207 $ 151,505 $ 16,563 $ 1,572,275 Software 396,921 184,361 15,640 596,922 Services 298,709 43,708 22,740 365,157 $ 2,099,837 $ 379,574 $ 54,943 $ 2,534,354 Major Client Groups Large Enterprise / Corporate $ 1,473,014 $ 295,565 $ 25,075 $ 1,793,654 Commercial 424,600 11,898 18,048 454,546 Public Sector 202,223 72,111 11,820 286,154 $ 2,099,837 $ 379,574 $ 54,943 $ 2,534,354 Revenue Recognition based on acting as Principal or Agent in the Transaction Gross revenue recognition (Principal) $ 1,990,277 $ 358,697 $ 46,763 $ 2,395,737 Net revenue recognition (Agent) 109,560 20,877 8,180 138,617 $ 2,099,837 $ 379,574 $ 54,943 $ 2,534,354 Three Months Ended September 30, 2021 North America EMEA APAC Consolidated Major Offerings Hardware $ 1,418,335 $ 160,645 $ 13,515 $ 1,592,495 Software 338,440 178,868 14,436 531,744 Services 263,101 41,935 18,246 323,282 $ 2,019,876 $ 381,448 $ 46,197 $ 2,447,521 Major Client Groups Large Enterprise / Corporate $ 1,447,246 $ 276,292 $ 21,947 $ 1,745,485 Commercial 384,458 13,209 17,277 414,944 Public Sector 188,172 91,947 6,973 287,092 $ 2,019,876 $ 381,448 $ 46,197 $ 2,447,521 Revenue Recognition based on acting as Principal or Agent in the Transaction Gross revenue recognition (Principal) $ 1,926,059 $ 358,981 $ 39,849 $ 2,324,889 Net revenue recognition (Agent) 93,817 22,467 6,348 122,632 $ 2,019,876 $ 381,448 $ 46,197 $ 2,447,521 Nine Months Ended September 30, 2022 North America EMEA APAC Consolidated Major Offerings Hardware $ 4,415,000 $ 517,512 $ 44,467 $ 4,976,979 Software 1,115,475 669,760 66,512 $ 1,851,747 Services 881,311 150,066 68,478 $ 1,099,855 $ 6,411,786 $ 1,337,338 $ 179,457 $ 7,928,581 Major Client Groups Large Enterprise / Corporate $ 4,509,731 $ 955,858 $ 77,934 $ 5,543,523 Commercial 1,314,733 49,631 50,159 1,414,523 Public Sector 587,322 331,849 51,364 970,535 $ 6,411,786 $ 1,337,338 $ 179,457 $ 7,928,581 Revenue Recognition based on acting as Principal or Agent in the Transaction Gross revenue recognition (Principal) $ 6,087,854 $ 1,254,980 $ 152,708 $ 7,495,542 Net revenue recognition (Agent) 323,932 82,358 26,749 433,039 $ 6,411,786 $ 1,337,338 $ 179,457 $ 7,928,581 Nine Months Ended September 30, 2021 North America EMEA APAC Consolidated Major Offerings Hardware $ 3,696,594 $ 527,022 $ 34,848 $ 4,258,464 Software 978,987 598,277 70,709 1,647,973 Services 758,705 152,359 52,589 963,653 $ 5,434,286 $ 1,277,658 $ 158,146 $ 6,870,090 Major Client Groups Large Enterprise / Corporate $ 3,838,627 $ 883,044 $ 66,686 $ 4,788,357 Commercial 1,091,247 50,908 46,054 1,188,209 Public Sector 504,412 343,706 45,406 893,524 $ 5,434,286 $ 1,277,658 $ 158,146 $ 6,870,090 Revenue Recognition based on acting as Principal or Agent in the Transaction Gross revenue recognition (Principal) $ 5,157,086 $ 1,190,283 $ 137,547 $ 6,484,916 Net revenue recognition (Agent) 277,200 87,375 20,599 385,174 $ 5,434,286 $ 1,277,658 $ 158,146 $ 6,870,090
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 September 30, 2022 North America EMEA APAC Consolidated Net sales: Products $ 1,801,128 $ 335,866 $ 32,203 $ 2,169,197 Services 298,709 43,708 22,740 365,157 Total net sales 2,099,837 379,574 54,943 2,534,354 Costs of goods sold: Products 1,618,297 309,218 29,164 1,956,679 Services 148,844 18,584 10,989 178,417 Total costs of goods sold 1,767,141 327,802 40,153 2,135,096 Gross profit 332,696 51,772 14,790 399,258 Operating expenses: Selling and administrative expenses 249,745 47,527 10,981 308,253 Severance and restructuring expenses 683 35 2 720 Acquisition and integration related expenses 6 — — 6 Earnings from operations $ 82,262 $ 4,210 $ 3,807 $ 90,279 Three Months Ended September 30, 2021 North America EMEA APAC Consolidated Net sales: Products $ 1,756,775 $ 339,513 $ 27,951 $ 2,124,239 Services 263,101 41,935 18,246 323,282 Total net sales 2,019,876 381,448 46,197 2,447,521 Costs of goods sold: Products 1,595,184 310,242 24,670 1,930,096 Services 128,710 15,759 8,411 152,880 Total costs of goods sold 1,723,894 326,001 33,081 2,082,976 Gross profit 295,982 55,447 13,116 364,545 Operating expenses: Selling and administrative expenses 219,714 50,062 9,222 278,998 Severance and restructuring expenses 1,999 397 — 2,396 Earnings from operations $ 74,269 $ 4,988 $ 3,894 $ 83,151 Nine Months Ended September 30, 2022 North America EMEA APAC Consolidated Net sales: Products $ 5,530,475 $ 1,187,272 $ 110,979 $ 6,828,726 Services 881,311 150,066 68,478 1,099,855 Total net sales 6,411,786 1,337,338 179,457 7,928,581 Costs of goods sold: Products 4,998,871 1,099,027 101,885 6,199,783 Services 429,869 52,222 30,699 512,790 Total costs of goods sold 5,428,740 1,151,249 132,584 6,712,573 Gross profit 983,046 186,089 46,873 1,216,008 Operating expenses: Selling and administrative expenses 728,833 151,225 31,836 911,894 Severance and restructuring expenses 1,472 1,310 2 2,784 Acquisition and integration related expenses 1,646 — — 1,646 Earnings from operations $ 251,095 $ 33,554 $ 15,035 $ 299,684 Nine Months Ended September 30, 2021 North America EMEA APAC Consolidated Net sales: Products $ 4,675,581 $ 1,125,299 $ 105,557 $ 5,906,437 Services 758,705 152,359 52,589 963,653 Total net sales 5,434,286 1,277,658 158,146 6,870,090 Costs of goods sold: Products 4,237,417 1,033,976 95,690 5,367,083 Services 368,501 48,671 23,133 440,305 Total costs of goods sold 4,605,918 1,082,647 118,823 5,807,388 Gross profit 828,368 195,011 39,323 1,062,702 Operating expenses: Selling and administrative expenses 640,420 159,466 27,389 827,275 Severance and restructuring expenses (4,361) 1,135 9 (3,217) Earnings from operations $ 192,309 $ 34,410 $ 11,925 $ 238,644
Summary of Total Assets by Reportable Operating Segment	The following is a summary of our total assets by reportable operating segment (in thousands): September 30, December 31, North America $ 5,129,966 $ 4,920,220 EMEA 786,551 828,456 APAC 134,509 148,737 Corporate assets and intercompany eliminations, net (1,053,312) (1,208,333) Total assets $ 4,997,714 $ 4,689,080
Pre-Tax Depreciation and Amortization by Operating Segment	We recorded the following pre-tax amounts, by reportable operating segment, for depreciation and amortization in the accompanying consolidated financial statements (in thousands): Three Months Ended Nine Months Ended 2022 2021 2022 2021 Depreciation and amortization of property and equipment: North America $ 5,769 $ 4,376 $ 14,918 $ 14,047 EMEA 531 1,141 2,006 3,575 APAC 149 148 465 432 6,449 5,665 17,389 18,054 Amortization of intangible assets: North America 8,468 7,372 23,172 22,229 EMEA 404 494 1,291 1,491 APAC 114 122 352 377 8,986 7,988 24,815 24,097 Total $ 15,435 $ 13,653 $ 42,204 $ 42,151

Basis of Presentation and Rec_3

Basis of Presentation and Recently Issued Accounting Standards - Additional Information (Detail) $ / shares in Units, $ in Thousands		3 Months Ended		9 Months Ended
	Jan. 01, 2022	Sep. 30, 2022 USD ($) $ / shares	Sep. 30, 2021 USD ($) $ / shares	Sep. 30, 2022 USD ($) segment $ / shares	Sep. 30, 2021 USD ($) $ / shares	Jun. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)	Jun. 30, 2021 USD ($)	Dec. 31, 2020 USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of operating segments \| segment				3
Accounting Standards Update [Extensible Enumeration]	Accounting Standards Update 2020-06			Accounting Standards Update 2020-06	Accounting Standards Update 2020-06
Stockholders' equity attributable to parent \| $		$ 1,620,791	$ 1,448,922	$ 1,620,791	$ 1,448,922	$ 1,613,097	$ 1,509,227	$ 1,401,827	$ 1,342,429
Basic (in usd per share) \| $ / shares		$ 1.64	$ 1.59	$ 5.80	$ 4.49
Diluted (in usd per share) \| $ / shares		$ 1.58	$ 1.51	$ 5.53	$ 4.27
Additional Paid-in Capital
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' equity attributable to parent \| $		$ 330,726	$ 364,699	$ 330,726	$ 364,699	327,282	368,282	361,412	364,288
Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' equity attributable to parent \| $		$ 1,366,124	$ 1,105,557	$ 1,366,124	$ 1,105,557	$ 1,331,294	1,167,690	$ 1,050,074	993,245
Cumulative Effect, Period of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' equity attributable to parent \| $							(26,942)		0
Cumulative Effect, Period of Adoption, Adjustment \| Additional Paid-in Capital
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' equity attributable to parent \| $							(44,731)
Cumulative Effect, Period of Adoption, Adjustment \| Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' equity attributable to parent \| $							$ 17,789
Accounting Standards Update 2020-06
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Basic (in usd per share) \| $ / shares		$ (0.06)		$ (0.17)
Diluted (in usd per share) \| $ / shares		(0.06)		(0.17)
Accounting Standards Update 2020-06 \| Old Method of Accounting
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Basic (in usd per share) \| $ / shares		1.58		5.63
Diluted (in usd per share) \| $ / shares		$ 1.52		$ 5.36

Receivables, Contract Liabili_3

Receivables, Contract Liabilities and Performance Obligations - Summary of Information about Receivables and Contract Liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Current receivables, which are included in “Accounts receivable, net”	$ 3,047,739	$ 2,936,732
Contract liabilities, which are included in “Accrued expenses and other current liabilities” and “Other liabilities”	110,906	116,067
Accounts Receivable, Net
Disaggregation of Revenue [Line Items]
Current receivables, which are included in “Accounts receivable, net”	3,047,739	2,936,732
Other Assets
Disaggregation of Revenue [Line Items]
Non-current receivables, which are included in “Other assets”	154,137	147,139
Accrued Expenses and Other Current Liabilities and Other Liabilities
Disaggregation of Revenue [Line Items]
Contract liabilities, which are included in “Accrued expenses and other current liabilities” and “Other liabilities”	$ 110,906	$ 116,067

Receivables, Contract Liabili_4

Receivables, Contract Liabilities and Performance Obligations - Summary of Changes in Contract Liabilities from Contract with Customers (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($)
Contract with Customer, Contract Asset, Contract Liability, and Receivable Increase (Decrease) [Roll Forward]
Beginning balance	$ 116,067
Reclassification of the beginning contract liabilities to revenue, as the result of performance obligations satisfied	(67,984)
Cash received in advance and not recognized as revenue	62,823
Ending balance	$ 110,906

Receivables, Contract Liabili_5

Receivables, Contract Liabilities and Performance Obligations - Additional Information (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Contract with customer, liability, revenue recognized		$ 67,166
Time and material contracts expected duration	19 months

Receivables, Contract Liabili_6

Receivables, Contract Liabilities and Performance Obligations - Summary of Estimated Net Sales Related to Performance Obligation (Detail) - Services $ in Thousands	Sep. 30, 2022 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total remaining performance obligations	$ 184,228
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total remaining performance obligations	$ 57,389
Remaining performance obligation, expected timing of satisfaction period	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total remaining performance obligations	$ 79,361
Remaining performance obligation, expected timing of satisfaction period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total remaining performance obligations	$ 29,001
Remaining performance obligation, expected timing of satisfaction period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Total remaining performance obligations	$ 18,477
Remaining performance obligation, expected timing of satisfaction period	1 year

Assets Held for Sale - Addition

Assets Held for Sale - Additional Information (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2021 USD ($) property
Property, Plant and Equipment Assets Held-for-sale Disclosure [Abstract]
Number of properties \| property	3
Proceeds from sale of property held-for-sale \| $	$ 27,211

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		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Numerator:
Net earnings	$ 57,316	$ 55,483	$ 203,131	$ 157,212
Denominator:
Weighted average shares used to compute basic EPS (in shares)	34,952	34,855	35,003	35,050
Dilutive potential common shares due to dilutive RSUs, net of tax effect (in shares)	201	381	243	407
Weighted average shares used to compute diluted EPS (in shares)	36,340	36,745	36,714	36,860
Net earnings per share:
Basic (in usd per share)	$ 1.64	$ 1.59	$ 5.80	$ 4.49
Diluted (in usd per share)	$ 1.58	$ 1.51	$ 5.53	$ 4.27
Notes
Denominator:
Dilutive potential common shares due to the Notes (in shares)	1,187	1,509	1,468	1,403

Net Earnings Per Share - Additi

Net Earnings Per Share - Additional Information (Detail) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Restricted Stock Units (RSUs)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
RSUs excluded from the diluted EPS calculations (in shares)	67,000	900	39,000	400

Debt, Inventory Financing Fac_3

Debt, Inventory Financing Facilities, Finance Leases and Other Financing Obligations - Long-Term Debt (Detail) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Finance leases and other financing obligations	$ 680,000	$ 63,000
Total	784,317,000	361,606,000
Less: current portion of long-term debt	(594,000)	(36,000)
Long-term debt	783,723,000	361,570,000
Convertible Senior Notes
Debt Instrument [Line Items]
Convertible senior notes due 2025	345,752,000	308,543,000
ABL Facility
Debt Instrument [Line Items]
ABL revolving credit facility	$ 437,885,000	$ 53,000,000

Debt, Inventory Financing Fac_4

Debt, Inventory Financing Facilities, Finance Leases and Other Financing Obligations - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2022 USD ($) d shares $ / shares	Jul. 22, 2022 USD ($)	Jun. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Aug. 31, 2019 USD ($)
Debt Instrument [Line Items]
Accounts payable-inventory financing facility	$ 331,982,000				$ 311,878,000
ABL Facility
Debt Instrument [Line Items]
Amount of facility permitted by qualified receivables	1,800,000,000
Line of credit outstanding amount	437,885,000				53,000,000
Inventory Financing Facility
Debt Instrument [Line Items]
Inventory financing facility maximum borrowing capacity	705,000,000
Accounts payable-inventory financing facility	331,982,000
Third Amendment to Credit Agreement \| ABL Facility
Debt Instrument [Line Items]
Credit facility, borrowing capacity		$ 1,800,000,000	$ 1,200,000,000
Foreign Currency Borrowings \| ABL Facility
Debt Instrument [Line Items]
Credit facility, borrowing capacity	350,000,000
First-In, Last-Out Revolving Facility \| ABL Facility
Debt Instrument [Line Items]
Credit facility, borrowing capacity	100,000,000
Convertible Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount of notes, issued amount	350,000,000				350,000,000	$ 350,000,000
Notes, interest rate						0.75%
Principal amount per note used in conversion rate	$ 1,000
Conversion price per share (in usd per share) \| $ / shares	$ 88.82
Debt conversion, initial conversion rate (in shares) \| shares	14.6376
Conversion price per share (in usd per share) \| $ / shares	$ 68.32
Repurchase price as percentage of principal amount	100%
Shares issuable upon conversion of debt (in shares) \| shares	6,788,208
Notes, remaining accretion period of debt discount and issuance cost	2 years 4 months 13 days
Notes, effective interest rate	0.75%
Conversion price per share (in usd per share) \| $ / shares	$ 68.32
Payments to convertible note hedge transaction	$ 66,325,000
Warrants sold to purchase of additional common stock (in shares) \| shares	5,123,160
Warrant price per share to purchase additional common stock (in usd per share) \| $ / shares	$ 103.12
Proceeds from sale of warrants	$ 34,440,000
Convertible Senior Notes \| Scenario One
Debt Instrument [Line Items]
Number of trading days \| d	20
Number of consecutive trading days \| d	30
Percentage of last reported sale price to conversion price on each applicable trading day	130%
Convertible Senior Notes \| Scenario Two
Debt Instrument [Line Items]
Percentage of last reported sale price to conversion price on each applicable trading day	98%
Measurement period	5 days
MUFG Bank Ltd \| Unsecured Inventory Financing Facility
Debt Instrument [Line Items]
Inventory financing facility maximum borrowing capacity	$ 280,000,000,000
Inventory financing facility rate if vendor terms not met equal prime plus	2%
PNC Facility \| Unsecured Inventory Financing Facility
Debt Instrument [Line Items]
Inventory financing facility maximum borrowing capacity				$ 375,000,000	$ 300,000,000
PNC Facility \| Inventory Financing Facility
Debt Instrument [Line Items]
Inventory financing facility rate if vendor terms not met equal LIBOR plus	4.50%
Canada Facility \| Unsecured Inventory Financing Facility
Debt Instrument [Line Items]
Inventory financing facility maximum borrowing capacity				$ 25,000,000
EMEA Facilities \| Unsecured Inventory Financing Facility
Debt Instrument [Line Items]
Inventory financing facility maximum borrowing capacity	$ 50,000,000
Inventory financing facility rate if vendor terms not met equal LIBOR plus	0.25%
Maximum \| ABL Facility
Debt Instrument [Line Items]
Credit facility, increase in amount available for borrowing	$ 750,000,000
Maximum \| Convertible Senior Notes
Debt Instrument [Line Items]
Option to purchase common stock (in shares) \| shares	5,123,160

Debt, Inventory Financing Fac_5

Debt, Inventory Financing Facilities, Finance Leases and Other Financing Obligations - Schedule of Convertible Senior Notes Balances (Detail) - Convertible Senior Notes - USD ($)	Sep. 30, 2022	Dec. 31, 2021	Aug. 31, 2019
Liability:
Principal	$ 350,000,000	$ 350,000,000	$ 350,000,000
Less: debt discount and issuance costs, net of accumulated accretion	(4,248,000)	(41,457,000)
Net carrying amount	345,752,000	308,543,000
Equity, net of deferred tax	$ 0	$ 44,731,000

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Effective tax rate	25.30%	25.40%	25.10%	25%
United States federal statutory income tax rate			21%	21%
Unrecognized tax benefits	$ 14,520		$ 14,520		$ 12,664
Unrecognized tax benefits, interest on income taxes accrued	$ 1,588		$ 1,588		$ 1,250

Share Repurchase Program - Addi

Share Repurchase Program - Additional Information (Detail) - USD ($)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 19, 2022	May 06, 2021
Equity, Class of Treasury Stock [Line Items]
Common stock repurchase program, number of shares repurchased (in shares)	270,080	497,243
Repurchase program, approximate dollar value of shares purchased	$ 25,008,025	$ 49,999,979
Repurchase program, average price paid per share (in usd per share)	$ 92.59	$ 100.55
May 6, 2021 Stock Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Common stock repurchase program, authorized amount				$ 125,000,000
Common stock repurchase program, authorized remaining amount			$ 50,000,000
September 14, 2022 Stock Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Common stock repurchase program, authorized amount			$ 300,000,000
Common stock repurchase program, authorized remaining amount	$ 300,000,000

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($)
Surety Bond
Commitments And Contingencies [Line Items]
Performance bonds outstanding	$ 27,743
Minimum
Commitments And Contingencies [Line Items]
Number of months of salary paid as severance	3 months
Maximum
Commitments And Contingencies [Line Items]
Number of months of salary paid as severance	24 months

Segment Information - Additiona

Segment Information - Additional Information (Detail)	9 Months Ended
Segment Information - Additional Information (Detail)	Sep. 30, 2022 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		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Disaggregation of revenue	$ 2,534,354	$ 2,447,521	$ 7,928,581	$ 6,870,090
Gross revenue recognition (Principal)
Segment Reporting Information [Line Items]
Disaggregation of revenue	2,395,737	2,324,889	7,495,542	6,484,916
Net revenue recognition (Agent)
Segment Reporting Information [Line Items]
Disaggregation of revenue	138,617	122,632	433,039	385,174
North America
Segment Reporting Information [Line Items]
Disaggregation of revenue	2,099,837	2,019,876	6,411,786	5,434,286
North America \| Gross revenue recognition (Principal)
Segment Reporting Information [Line Items]
Disaggregation of revenue	1,990,277	1,926,059	6,087,854	5,157,086
North America \| Net revenue recognition (Agent)
Segment Reporting Information [Line Items]
Disaggregation of revenue	109,560	93,817	323,932	277,200
EMEA
Segment Reporting Information [Line Items]
Disaggregation of revenue	379,574	381,448	1,337,338	1,277,658
EMEA \| Gross revenue recognition (Principal)
Segment Reporting Information [Line Items]
Disaggregation of revenue	358,697	358,981	1,254,980	1,190,283
EMEA \| Net revenue recognition (Agent)
Segment Reporting Information [Line Items]
Disaggregation of revenue	20,877	22,467	82,358	87,375
APAC
Segment Reporting Information [Line Items]
Disaggregation of revenue	54,943	46,197	179,457	158,146
APAC \| Gross revenue recognition (Principal)
Segment Reporting Information [Line Items]
Disaggregation of revenue	46,763	39,849	152,708	137,547
APAC \| Net revenue recognition (Agent)
Segment Reporting Information [Line Items]
Disaggregation of revenue	8,180	6,348	26,749	20,599
Large Enterprise / Corporate
Segment Reporting Information [Line Items]
Disaggregation of revenue	1,793,654	1,745,485	5,543,523	4,788,357
Large Enterprise / Corporate \| North America
Segment Reporting Information [Line Items]
Disaggregation of revenue	1,473,014	1,447,246	4,509,731	3,838,627
Large Enterprise / Corporate \| EMEA
Segment Reporting Information [Line Items]
Disaggregation of revenue	295,565	276,292	955,858	883,044
Large Enterprise / Corporate \| APAC
Segment Reporting Information [Line Items]
Disaggregation of revenue	25,075	21,947	77,934	66,686
Commercial
Segment Reporting Information [Line Items]
Disaggregation of revenue	454,546	414,944	1,414,523	1,188,209
Commercial \| North America
Segment Reporting Information [Line Items]
Disaggregation of revenue	424,600	384,458	1,314,733	1,091,247
Commercial \| EMEA
Segment Reporting Information [Line Items]
Disaggregation of revenue	11,898	13,209	49,631	50,908
Commercial \| APAC
Segment Reporting Information [Line Items]
Disaggregation of revenue	18,048	17,277	50,159	46,054
Public Sector
Segment Reporting Information [Line Items]
Disaggregation of revenue	286,154	287,092	970,535	893,524
Public Sector \| North America
Segment Reporting Information [Line Items]
Disaggregation of revenue	202,223	188,172	587,322	504,412
Public Sector \| EMEA
Segment Reporting Information [Line Items]
Disaggregation of revenue	72,111	91,947	331,849	343,706
Public Sector \| APAC
Segment Reporting Information [Line Items]
Disaggregation of revenue	11,820	6,973	51,364	45,406
Hardware
Segment Reporting Information [Line Items]
Disaggregation of revenue	1,572,275	1,592,495	4,976,979	4,258,464
Hardware \| North America
Segment Reporting Information [Line Items]
Disaggregation of revenue	1,404,207	1,418,335	4,415,000	3,696,594
Hardware \| EMEA
Segment Reporting Information [Line Items]
Disaggregation of revenue	151,505	160,645	517,512	527,022
Hardware \| APAC
Segment Reporting Information [Line Items]
Disaggregation of revenue	16,563	13,515	44,467	34,848
Software
Segment Reporting Information [Line Items]
Disaggregation of revenue	596,922	531,744	1,851,747	1,647,973
Software \| North America
Segment Reporting Information [Line Items]
Disaggregation of revenue	396,921	338,440	1,115,475	978,987
Software \| EMEA
Segment Reporting Information [Line Items]
Disaggregation of revenue	184,361	178,868	669,760	598,277
Software \| APAC
Segment Reporting Information [Line Items]
Disaggregation of revenue	15,640	14,436	66,512	70,709
Services
Segment Reporting Information [Line Items]
Disaggregation of revenue	365,157	323,282	1,099,855	963,653
Services \| North America
Segment Reporting Information [Line Items]
Disaggregation of revenue	298,709	263,101	881,311	758,705
Services \| EMEA
Segment Reporting Information [Line Items]
Disaggregation of revenue	43,708	41,935	150,066	152,359
Services \| APAC
Segment Reporting Information [Line Items]
Disaggregation of revenue	$ 22,740	$ 18,246	$ 68,478	$ 52,589

Segment Information - Financial

Segment Information - Financial Information about Reportable Operating Segments (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Total net sales	$ 2,534,354	$ 2,447,521	$ 7,928,581	$ 6,870,090
Total costs of goods sold	2,135,096	2,082,976	6,712,573	5,807,388
Gross profit	399,258	364,545	1,216,008	1,062,702
Operating expenses:
Selling and administrative expenses	308,253	278,998	911,894	827,275
Severance and restructuring expenses	720	2,396	2,784	(3,217)
Acquisition and integration related expenses	6	0	1,646	0
Earnings from operations	90,279	83,151	299,684	238,644
Products
Segment Reporting Information [Line Items]
Total net sales	2,169,197	2,124,239	6,828,726	5,906,437
Total costs of goods sold	1,956,679	1,930,096	6,199,783	5,367,083
Gross profit	212,518	194,143	628,943	539,354
Services
Segment Reporting Information [Line Items]
Total net sales	365,157	323,282	1,099,855	963,653
Total costs of goods sold	178,417	152,880	512,790	440,305
Gross profit	186,740	170,402	587,065	523,348
North America
Segment Reporting Information [Line Items]
Total net sales	2,099,837	2,019,876	6,411,786	5,434,286
Total costs of goods sold	1,767,141	1,723,894	5,428,740	4,605,918
Gross profit	332,696	295,982	983,046	828,368
Operating expenses:
Selling and administrative expenses	249,745	219,714	728,833	640,420
Severance and restructuring expenses	683	1,999	1,472	(4,361)
Acquisition and integration related expenses	6		1,646
Earnings from operations	82,262	74,269	251,095	192,309
North America \| Products
Segment Reporting Information [Line Items]
Total net sales	1,801,128	1,756,775	5,530,475	4,675,581
Total costs of goods sold	1,618,297	1,595,184	4,998,871	4,237,417
North America \| Services
Segment Reporting Information [Line Items]
Total net sales	298,709	263,101	881,311	758,705
Total costs of goods sold	148,844	128,710	429,869	368,501
EMEA
Segment Reporting Information [Line Items]
Total net sales	379,574	381,448	1,337,338	1,277,658
Total costs of goods sold	327,802	326,001	1,151,249	1,082,647
Gross profit	51,772	55,447	186,089	195,011
Operating expenses:
Selling and administrative expenses	47,527	50,062	151,225	159,466
Severance and restructuring expenses	35	397	1,310	1,135
Acquisition and integration related expenses	0		0
Earnings from operations	4,210	4,988	33,554	34,410
EMEA \| Products
Segment Reporting Information [Line Items]
Total net sales	335,866	339,513	1,187,272	1,125,299
Total costs of goods sold	309,218	310,242	1,099,027	1,033,976
EMEA \| Services
Segment Reporting Information [Line Items]
Total net sales	43,708	41,935	150,066	152,359
Total costs of goods sold	18,584	15,759	52,222	48,671
APAC
Segment Reporting Information [Line Items]
Total net sales	54,943	46,197	179,457	158,146
Total costs of goods sold	40,153	33,081	132,584	118,823
Gross profit	14,790	13,116	46,873	39,323
Operating expenses:
Selling and administrative expenses	10,981	9,222	31,836	27,389
Severance and restructuring expenses	2	0	2	9
Acquisition and integration related expenses	0		0
Earnings from operations	3,807	3,894	15,035	11,925
APAC \| Products
Segment Reporting Information [Line Items]
Total net sales	32,203	27,951	110,979	105,557
Total costs of goods sold	29,164	24,670	101,885	95,690
APAC \| Services
Segment Reporting Information [Line Items]
Total net sales	22,740	18,246	68,478	52,589
Total costs of goods sold	$ 10,989	$ 8,411	$ 30,699	$ 23,133

Segment Information - Summary_2

Segment Information - Summary of Total Assets by Reportable Operating Segment (Detail) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 4,997,714	$ 4,689,080
Operating Segments \| North America
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	5,129,966	4,920,220
Operating Segments \| EMEA
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	786,551	828,456
Operating Segments \| APAC
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	134,509	148,737
Intersegment Eliminations
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ (1,053,312)	$ (1,208,333)

Segment Information - Pre-Tax D

Segment Information - Pre-Tax Depreciation and Amortization by Operating Segment (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Depreciation and amortization of property and equipment	$ 6,449	$ 5,665	$ 17,389	$ 18,054
Amortization of intangible assets	8,986	7,988	24,815	24,097
Depreciation and amortization, total	15,435	13,653	42,204	42,151
North America
Segment Reporting Information [Line Items]
Depreciation and amortization of property and equipment	5,769	4,376	14,918	14,047
Amortization of intangible assets	8,468	7,372	23,172	22,229
EMEA
Segment Reporting Information [Line Items]
Depreciation and amortization of property and equipment	531	1,141	2,006	3,575
Amortization of intangible assets	404	494	1,291	1,491
APAC
Segment Reporting Information [Line Items]
Depreciation and amortization of property and equipment	149	148	465	432
Amortization of intangible assets	$ 114	$ 122	$ 352	$ 377

Acquisition (Details)

Acquisition (Details) - USD ($)	Jun. 01, 2022	Sep. 30, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill		$ 493,618,000	$ 428,346,000
Hanu
Business Acquisition [Line Items]
Business combination acquired percentage	100%
Cash paid to acquire business	$ 68,248,000
Holdbacks for representations and warranties	8,501,000
Net assets acquired	22,639,000
Intangible assets acquired	24,750,000
Goodwill	$ 72,110,000
Hanu \| Customer Relationships
Business Acquisition [Line Items]
Finite-lived intangible asset, useful life	10 years
Hanu \| Maximum
Business Acquisition [Line Items]
Maximum earnout	$ 20,000,000