SEGMENT REPORTING (Tables)

9 Months Ended

Dec. 31, 2022

SEGMENT REPORTING [Abstract]

Segment Reporting Information, by Reportable Segment

Our reportable segment information for the three-and nine-month periods ended December 31, 2022, and 2021 are summarized in the following table (in thousands):

	Three Months Ended
	December 31, 2022						December 31, 2021
	Technology		Financing		Total		Technology		Financing		Total
Net Sales
Product	$	544,316	$	11,702	$	556,018	$	414,448	$	17,859	$	432,307
Service		67,458		-		67,458		62,527		-		62,527
Total		611,774		11,702		623,476		476,975		17,859		494,834
Cost of Sales
Product		439,831		1,184		441,015		334,585		5,225		339,810
Service		44,089		-		44,089		37,907		-		37,907
Total		483,920		1,184		485,104		372,492		5,225		377,717
Gross Profit		127,854		10,518		138,372		104,483		12,634		117,117
Selling, general, and administrative		81,874		4,856		86,730		73,413		3,461		76,874
Depreciation and amortization		3,582		27		3,609		3,569		28		3,597
Interest and financing costs		1,308		267		1,575		335		226		561
Operating expenses		86,764		5,150		91,914		77,317		3,715		81,032
Operating income		41,090		5,368		46,458		27,166		8,919		36,085
Other income (expense), net						2,907						(175	)
Earnings before tax					$	49,365					$	35,910
Net Sales
Contracts with customers	$	605,858	$	560	$	606,418	$	473,763	$	5,840	$	479,603
Financing and other		5,916		11,142		17,058		3,212		12,019		15,231
Total	$	611,774	$	11,702	$	623,476	$	476,975	$	17,859	$	494,834
Selected Financial Data - Statement of Cash Flow
Depreciation and amortization	$	3,926	$	783	$	4,709	$	3,846	$	2,730	$	6,576
Purchases of property, equipment and operating lease equipment	$	2,225	$	1,026	$	3,251	$	1,339	$	3,793	$	5,132
Selected Financial Data - Balance Sheet
Total assets	$	1,301,459	$	296,406	$	1,597,865	$	998,594	$	256,552	$	1,255,146

	Nine Months Ended
	December 31, 2022							December 31, 2021
	Technology		Financing		Total			Technology		Financing		Total
Net Sales
Product	$	1,336,309	$	43,504	$	1,379,813		$	1,134,658	$	55,866	$	1,190,524
Service		195,728		-		195,728			178,976		-		178,976
Total		1,532,037		43,504		1,575,541			1,313,634		55,866		1,369,500
Cost of Sales
Product		1,054,267		8,085		1,062,352			899,437		15,229		914,666
Service		127,990		-		127,990			109,203		-		109,203
Total		1,182,257		8,085		1,190,342			1,008,640		15,229		1,023,869
Gross Profit		349,780		35,419		385,199			304,994		40,637		345,631
Selling, general, and administrative		235,147		13,054		248,201			210,369		9,784		220,153
Depreciation and amortization		10,304		83		10,387			11,292		84		11,376
Interest and financing costs		2,117		746		2,863			693		569		1,262
Operating expenses		247,568		13,883		261,451			222,354		10,437		232,791
Operating income		102,212		21,536		123,748			82,640		30,200		112,840
Other income (expense), net						(3,112	)						(377	)
Earnings before tax					$	120,636						$	112,463
Net Sales
Contracts with customers	$	1,516,632	$	8,428	$	1,525,060		$	1,300,643	$	13,034	$	1,313,677
Financing and other		15,405		35,076		50,481			12,991		42,832		55,823
Total	$	1,532,037	$	43,504	$	1,575,541		$	1,313,634	$	55,866	$	1,369,500
Selected Financial Data - Statement of Cash Flow
Depreciation and amortization	$	11,312	$	2,936	$	14,248		$	12,023	$	6,597	$	18,620
Purchases of property, equipment and operating lease equipment	$	4,122	$	1,539	$	5,661		$	3,594	$	17,781	$	21,375
Selected Financial Data - Balance Sheet
Total assets	$	1,301,459	$	296,406	$	1,597,865		$	998,594	$	256,552	$	1,255,146

Technology Segment Disaggregation of Revenue

We analyze net sales for our technology segment by customer end market and by vendor, as opposed to discrete product and service categories, which are summarized for the three- and nine-month periods ended December 31, 2022, and 2021 in the tables below (in thousands):

	Three Months Ended December 31,						Nine Months Ended December 31,
	2022			2021			2022			2021
Customer end market:
Telecom, media & entertainment	$	184,539		$	152,584		$	431,269		$	380,560
Technology		133,067			67,959			299,088			190,851
Healthcare		69,825			64,775			205,297			207,700
State and local government and educational institutions		72,730			59,449			207,823			193,526
Financial services		48,008			39,182			118,917			106,229
All others		103,605			93,026			269,643			234,768
Net sales		611,774			476,975			1,532,037			1,313,634
Less: Revenue from financing and other		(5,916	)		(3,212	)		(15,405	)		(12,991	)
Revenue from contracts with customers	$	605,858		$	473,763		$	1,516,632		$	1,300,643

	Three Months Ended December 31,						Nine Months Ended December 31,
	2022			2021			2022			2021
Vendor:
Cisco systems	$	237,334		$	183,195		$	579,530		$	524,169
Juniper networks		50,937			28,792			113,026			71,944
Dell EMC		33,636			40,254			110,730			110,092
HPE		22,981			8,293			62,110			29,594
NetApp		21,987			30,261			52,682			70,254
Arista networks		21,423			13,484			41,528			33,029
All others		223,476			172,696			572,431			474,552
Net sales		611,774			476,975			1,532,037			1,313,634
Less: Revenue from financing and other		(5,916	)		(3,212	)		(15,405	)		(12,991	)
Revenue from contracts with customers	$	605,858		$	473,763		$	1,516,632		$	1,300,643