0001402057December 312023Q2FALSE134,047,853Vernon HillsIllinois1117600014020572023-01-012023-06-3000014020572023-07-28xbrli:shares00014020572023-06-30iso4217:USD00014020572022-12-31iso4217:USDxbrli:shares00014020572023-04-012023-06-3000014020572022-04-012022-06-3000014020572022-01-012022-06-3000014020572021-12-3100014020572022-06-300001402057us-gaap:CommonStockMember2023-03-310001402057us-gaap:AdditionalPaidInCapitalMember2023-03-310001402057us-gaap:RetainedEarningsMember2023-03-310001402057us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-03-3100014020572023-03-310001402057us-gaap:RetainedEarningsMember2023-04-012023-06-300001402057us-gaap:AdditionalPaidInCapitalMember2023-04-012023-06-300001402057us-gaap:CommonStockMember2023-04-012023-06-300001402057us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-04-012023-06-300001402057us-gaap:CommonStockMember2023-06-300001402057us-gaap:AdditionalPaidInCapitalMember2023-06-300001402057us-gaap:RetainedEarningsMember2023-06-300001402057us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-06-300001402057us-gaap:CommonStockMember2022-03-310001402057us-gaap:AdditionalPaidInCapitalMember2022-03-310001402057us-gaap:RetainedEarningsMember2022-03-310001402057us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-03-3100014020572022-03-310001402057us-gaap:RetainedEarningsMember2022-04-012022-06-300001402057us-gaap:AdditionalPaidInCapitalMember2022-04-012022-06-300001402057us-gaap:CommonStockMember2022-04-012022-06-300001402057us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-04-012022-06-300001402057us-gaap:CommonStockMember2022-06-300001402057us-gaap:AdditionalPaidInCapitalMember2022-06-300001402057us-gaap:RetainedEarningsMember2022-06-300001402057us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-06-300001402057us-gaap:CommonStockMember2022-12-310001402057us-gaap:AdditionalPaidInCapitalMember2022-12-310001402057us-gaap:RetainedEarningsMember2022-12-310001402057us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-12-310001402057us-gaap:RetainedEarningsMember2023-01-012023-06-300001402057us-gaap:AdditionalPaidInCapitalMember2023-01-012023-06-300001402057us-gaap:CommonStockMember2023-01-012023-06-300001402057us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-06-300001402057us-gaap:CommonStockMember2021-12-310001402057us-gaap:AdditionalPaidInCapitalMember2021-12-310001402057us-gaap:RetainedEarningsMember2021-12-310001402057us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-12-310001402057us-gaap:RetainedEarningsMember2022-01-012022-06-300001402057us-gaap:AdditionalPaidInCapitalMember2022-01-012022-06-300001402057us-gaap:CommonStockMember2022-01-012022-06-300001402057us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-06-30cdw:subsidiary0001402057us-gaap:LongTermContractWithCustomerMember2023-06-300001402057us-gaap:LongTermContractWithCustomerMember2022-12-3100014020572023-07-012023-06-3000014020572024-01-012023-06-3000014020572025-01-012023-06-3000014020572026-01-012023-06-300001402057cdw:SeniorSecuredAssetBasedRevolvingCreditFacilityMember2023-06-300001402057cdw:SeniorSecuredAssetBasedRevolvingCreditFacilityMember2022-12-310001402057cdw:SeniorSecuredTermLoanFacilityMember2023-06-300001402057cdw:SeniorSecuredTermLoanFacilityMember2022-12-310001402057cdw:SeniorNotesdue2024Member2023-06-30xbrli:pure0001402057cdw:SeniorNotesdue2024Member2022-12-310001402057cdw:SeniorNotesdueMay2025Member2023-06-300001402057cdw:SeniorNotesdueMay2025Member2022-12-310001402057cdw:SeniorNotesDue2026Member2023-06-300001402057cdw:SeniorNotesDueDecember2028Member2023-06-300001402057cdw:SeniorNotesDue2026Member2022-12-310001402057cdw:SeniorNotesdue2028Member2023-06-300001402057cdw:SeniorNotesdue2028Member2022-12-310001402057cdw:SeniorNotesDue2029Member2023-06-300001402057cdw:SeniorNotesDueDecember2028Member2022-12-310001402057cdw:SeniorNotesDue2029Member2022-12-310001402057cdw:SeniorNotesDue2031Member2023-06-300001402057cdw:SeniorNotesDue2031Member2022-12-310001402057cdw:UnsecuredSeniorNotesMember2023-06-300001402057cdw:UnsecuredSeniorNotesMember2022-12-310001402057cdw:ReceivableFinancingLiabilityMember2023-06-300001402057cdw:ReceivableFinancingLiabilityMember2022-12-310001402057cdw:OtherLongTermObligationsMember2023-06-300001402057cdw:OtherLongTermObligationsMember2022-12-310001402057cdw:SeniorSecuredAssetBasedRevolvingCreditFacilityMembercdw:AccountsPayableInventoryFinancingMember2023-06-300001402057cdw:SeniorSecuredTermLoanFacilityMember2023-01-012023-06-300001402057us-gaap:FairValueInputsLevel2Member2023-06-300001402057us-gaap:FairValueInputsLevel2Member2022-12-31cdw:segment0001402057cdw:CorporateSegmentPrivateSectorBusinessMembersrt:MinimumMember2023-06-30cdw:employee0001402057srt:MaximumMembercdw:SmallBusinessMember2023-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMember2023-04-012023-06-300001402057us-gaap:OperatingSegmentsMembercdw:SmallBusinessMember2023-04-012023-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMember2023-04-012023-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMember2023-04-012023-06-300001402057us-gaap:CorporateNonSegmentMember2023-04-012023-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMember2022-04-012022-06-300001402057us-gaap:OperatingSegmentsMembercdw:SmallBusinessMember2022-04-012022-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMember2022-04-012022-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMember2022-04-012022-06-300001402057us-gaap:CorporateNonSegmentMember2022-04-012022-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMember2023-01-012023-06-300001402057us-gaap:OperatingSegmentsMembercdw:SmallBusinessMember2023-01-012023-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMember2023-01-012023-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMember2023-01-012023-06-300001402057us-gaap:CorporateNonSegmentMember2023-01-012023-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMember2022-01-012022-06-300001402057us-gaap:OperatingSegmentsMembercdw:SmallBusinessMember2022-01-012022-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMember2022-01-012022-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMember2022-01-012022-06-300001402057us-gaap:CorporateNonSegmentMember2022-01-012022-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercountry:US2023-04-012023-06-300001402057us-gaap:OperatingSegmentsMembercountry:UScdw:SmallBusinessMember2023-04-012023-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercountry:US2023-04-012023-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercountry:US2023-04-012023-06-300001402057country:US2023-04-012023-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:NonUsMemberus-gaap:OperatingSegmentsMember2023-04-012023-06-300001402057us-gaap:NonUsMemberus-gaap:OperatingSegmentsMembercdw:SmallBusinessMember2023-04-012023-06-300001402057us-gaap:NonUsMembercdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMember2023-04-012023-06-300001402057us-gaap:NonUsMemberus-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMember2023-04-012023-06-300001402057us-gaap:NonUsMember2023-04-012023-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercdw:TotalHardwareMember2023-04-012023-06-300001402057us-gaap:OperatingSegmentsMembercdw:TotalHardwareMembercdw:SmallBusinessMember2023-04-012023-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercdw:TotalHardwareMember2023-04-012023-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercdw:TotalHardwareMember2023-04-012023-06-300001402057cdw:TotalHardwareMember2023-04-012023-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercdw:SoftwareProductsMember2023-04-012023-06-300001402057us-gaap:OperatingSegmentsMembercdw:SoftwareProductsMembercdw:SmallBusinessMember2023-04-012023-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercdw:SoftwareProductsMember2023-04-012023-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercdw:SoftwareProductsMember2023-04-012023-06-300001402057cdw:SoftwareProductsMember2023-04-012023-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercdw:ServicesMember2023-04-012023-06-300001402057us-gaap:OperatingSegmentsMembercdw:ServicesMembercdw:SmallBusinessMember2023-04-012023-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercdw:ServicesMember2023-04-012023-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercdw:ServicesMember2023-04-012023-06-300001402057cdw:ServicesMember2023-04-012023-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercdw:OtherProductsAndServicesMember2023-04-012023-06-300001402057us-gaap:OperatingSegmentsMembercdw:OtherProductsAndServicesMembercdw:SmallBusinessMember2023-04-012023-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercdw:OtherProductsAndServicesMember2023-04-012023-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercdw:OtherProductsAndServicesMember2023-04-012023-06-300001402057cdw:OtherProductsAndServicesMember2023-04-012023-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercdw:SalesChannelCorporateMember2023-04-012023-06-300001402057us-gaap:OperatingSegmentsMembercdw:SmallBusinessMembercdw:SalesChannelCorporateMember2023-04-012023-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercdw:SalesChannelCorporateMember2023-04-012023-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercdw:SalesChannelCorporateMember2023-04-012023-06-300001402057cdw:SalesChannelCorporateMember2023-04-012023-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercdw:SalesChannelSmallBusinessMember2023-04-012023-06-300001402057us-gaap:OperatingSegmentsMembercdw:SalesChannelSmallBusinessMembercdw:SmallBusinessMember2023-04-012023-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercdw:SalesChannelSmallBusinessMember2023-04-012023-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercdw:SalesChannelSmallBusinessMember2023-04-012023-06-300001402057cdw:SalesChannelSmallBusinessMember2023-04-012023-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercdw:SalesChannelGovernmentMember2023-04-012023-06-300001402057us-gaap:OperatingSegmentsMembercdw:SalesChannelGovernmentMembercdw:SmallBusinessMember2023-04-012023-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercdw:SalesChannelGovernmentMember2023-04-012023-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercdw:SalesChannelGovernmentMember2023-04-012023-06-300001402057cdw:SalesChannelGovernmentMember2023-04-012023-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercdw:SalesChannelEducationMember2023-04-012023-06-300001402057us-gaap:OperatingSegmentsMembercdw:SalesChannelEducationMembercdw:SmallBusinessMember2023-04-012023-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercdw:SalesChannelEducationMember2023-04-012023-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercdw:SalesChannelEducationMember2023-04-012023-06-300001402057cdw:SalesChannelEducationMember2023-04-012023-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercdw:SalesChannelHealthcareMember2023-04-012023-06-300001402057us-gaap:OperatingSegmentsMembercdw:SalesChannelHealthcareMembercdw:SmallBusinessMember2023-04-012023-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercdw:SalesChannelHealthcareMember2023-04-012023-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercdw:SalesChannelHealthcareMember2023-04-012023-06-300001402057cdw:SalesChannelHealthcareMember2023-04-012023-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercdw:SalesChannelOtherMember2023-04-012023-06-300001402057us-gaap:OperatingSegmentsMembercdw:SalesChannelOtherMembercdw:SmallBusinessMember2023-04-012023-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercdw:SalesChannelOtherMember2023-04-012023-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercdw:SalesChannelOtherMember2023-04-012023-06-300001402057cdw:SalesChannelOtherMember2023-04-012023-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercdw:TransferredAtPointInTimePrincipalMember2023-04-012023-06-300001402057us-gaap:OperatingSegmentsMembercdw:TransferredAtPointInTimePrincipalMembercdw:SmallBusinessMember2023-04-012023-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercdw:TransferredAtPointInTimePrincipalMember2023-04-012023-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercdw:TransferredAtPointInTimePrincipalMember2023-04-012023-06-300001402057cdw:TransferredAtPointInTimePrincipalMember2023-04-012023-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMembercdw:TransferredAtPointInTimeAgentMemberus-gaap:OperatingSegmentsMember2023-04-012023-06-300001402057cdw:TransferredAtPointInTimeAgentMemberus-gaap:OperatingSegmentsMembercdw:SmallBusinessMember2023-04-012023-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMembercdw:TransferredAtPointInTimeAgentMemberus-gaap:OperatingSegmentsMember2023-04-012023-06-300001402057cdw:TransferredAtPointInTimeAgentMemberus-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMember2023-04-012023-06-300001402057cdw:TransferredAtPointInTimeAgentMember2023-04-012023-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercdw:TransferredOverTimePrincipalMember2023-04-012023-06-300001402057us-gaap:OperatingSegmentsMembercdw:TransferredOverTimePrincipalMembercdw:SmallBusinessMember2023-04-012023-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercdw:TransferredOverTimePrincipalMember2023-04-012023-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercdw:TransferredOverTimePrincipalMember2023-04-012023-06-300001402057cdw:TransferredOverTimePrincipalMember2023-04-012023-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercountry:US2022-04-012022-06-300001402057us-gaap:OperatingSegmentsMembercountry:UScdw:SmallBusinessMember2022-04-012022-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercountry:US2022-04-012022-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercountry:US2022-04-012022-06-300001402057country:US2022-04-012022-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:NonUsMemberus-gaap:OperatingSegmentsMember2022-04-012022-06-300001402057us-gaap:NonUsMemberus-gaap:OperatingSegmentsMembercdw:SmallBusinessMember2022-04-012022-06-300001402057us-gaap:NonUsMembercdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMember2022-04-012022-06-300001402057us-gaap:NonUsMemberus-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMember2022-04-012022-06-300001402057us-gaap:NonUsMember2022-04-012022-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercdw:TotalHardwareMember2022-04-012022-06-300001402057us-gaap:OperatingSegmentsMembercdw:TotalHardwareMembercdw:SmallBusinessMember2022-04-012022-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercdw:TotalHardwareMember2022-04-012022-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercdw:TotalHardwareMember2022-04-012022-06-300001402057cdw:TotalHardwareMember2022-04-012022-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercdw:SoftwareProductsMember2022-04-012022-06-300001402057us-gaap:OperatingSegmentsMembercdw:SoftwareProductsMembercdw:SmallBusinessMember2022-04-012022-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercdw:SoftwareProductsMember2022-04-012022-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercdw:SoftwareProductsMember2022-04-012022-06-300001402057cdw:SoftwareProductsMember2022-04-012022-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercdw:ServicesMember2022-04-012022-06-300001402057us-gaap:OperatingSegmentsMembercdw:ServicesMembercdw:SmallBusinessMember2022-04-012022-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercdw:ServicesMember2022-04-012022-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercdw:ServicesMember2022-04-012022-06-300001402057cdw:ServicesMember2022-04-012022-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercdw:OtherProductsAndServicesMember2022-04-012022-06-300001402057us-gaap:OperatingSegmentsMembercdw:OtherProductsAndServicesMembercdw:SmallBusinessMember2022-04-012022-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercdw:OtherProductsAndServicesMember2022-04-012022-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercdw:OtherProductsAndServicesMember2022-04-012022-06-300001402057cdw:OtherProductsAndServicesMember2022-04-012022-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercdw:SalesChannelCorporateMember2022-04-012022-06-300001402057us-gaap:OperatingSegmentsMembercdw:SmallBusinessMembercdw:SalesChannelCorporateMember2022-04-012022-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercdw:SalesChannelCorporateMember2022-04-012022-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercdw:SalesChannelCorporateMember2022-04-012022-06-300001402057cdw:SalesChannelCorporateMember2022-04-012022-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercdw:SalesChannelSmallBusinessMember2022-04-012022-06-300001402057us-gaap:OperatingSegmentsMembercdw:SalesChannelSmallBusinessMembercdw:SmallBusinessMember2022-04-012022-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercdw:SalesChannelSmallBusinessMember2022-04-012022-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercdw:SalesChannelSmallBusinessMember2022-04-012022-06-300001402057cdw:SalesChannelSmallBusinessMember2022-04-012022-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercdw:SalesChannelGovernmentMember2022-04-012022-06-300001402057us-gaap:OperatingSegmentsMembercdw:SalesChannelGovernmentMembercdw:SmallBusinessMember2022-04-012022-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercdw:SalesChannelGovernmentMember2022-04-012022-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercdw:SalesChannelGovernmentMember2022-04-012022-06-300001402057cdw:SalesChannelGovernmentMember2022-04-012022-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercdw:SalesChannelEducationMember2022-04-012022-06-300001402057us-gaap:OperatingSegmentsMembercdw:SalesChannelEducationMembercdw:SmallBusinessMember2022-04-012022-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercdw:SalesChannelEducationMember2022-04-012022-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercdw:SalesChannelEducationMember2022-04-012022-06-300001402057cdw:SalesChannelEducationMember2022-04-012022-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercdw:SalesChannelHealthcareMember2022-04-012022-06-300001402057us-gaap:OperatingSegmentsMembercdw:SalesChannelHealthcareMembercdw:SmallBusinessMember2022-04-012022-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercdw:SalesChannelHealthcareMember2022-04-012022-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercdw:SalesChannelHealthcareMember2022-04-012022-06-300001402057cdw:SalesChannelHealthcareMember2022-04-012022-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercdw:SalesChannelOtherMember2022-04-012022-06-300001402057us-gaap:OperatingSegmentsMembercdw:SalesChannelOtherMembercdw:SmallBusinessMember2022-04-012022-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercdw:SalesChannelOtherMember2022-04-012022-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercdw:SalesChannelOtherMember2022-04-012022-06-300001402057cdw:SalesChannelOtherMember2022-04-012022-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercdw:TransferredAtPointInTimePrincipalMember2022-04-012022-06-300001402057us-gaap:OperatingSegmentsMembercdw:TransferredAtPointInTimePrincipalMembercdw:SmallBusinessMember2022-04-012022-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercdw:TransferredAtPointInTimePrincipalMember2022-04-012022-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercdw:TransferredAtPointInTimePrincipalMember2022-04-012022-06-300001402057cdw:TransferredAtPointInTimePrincipalMember2022-04-012022-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMembercdw:TransferredAtPointInTimeAgentMemberus-gaap:OperatingSegmentsMember2022-04-012022-06-300001402057cdw:TransferredAtPointInTimeAgentMemberus-gaap:OperatingSegmentsMembercdw:SmallBusinessMember2022-04-012022-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMembercdw:TransferredAtPointInTimeAgentMemberus-gaap:OperatingSegmentsMember2022-04-012022-06-300001402057cdw:TransferredAtPointInTimeAgentMemberus-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMember2022-04-012022-06-300001402057cdw:TransferredAtPointInTimeAgentMember2022-04-012022-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercdw:TransferredOverTimePrincipalMember2022-04-012022-06-300001402057us-gaap:OperatingSegmentsMembercdw:TransferredOverTimePrincipalMembercdw:SmallBusinessMember2022-04-012022-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercdw:TransferredOverTimePrincipalMember2022-04-012022-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercdw:TransferredOverTimePrincipalMember2022-04-012022-06-300001402057cdw:TransferredOverTimePrincipalMember2022-04-012022-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercountry:US2023-01-012023-06-300001402057us-gaap:OperatingSegmentsMembercountry:UScdw:SmallBusinessMember2023-01-012023-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercountry:US2023-01-012023-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercountry:US2023-01-012023-06-300001402057country:US2023-01-012023-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:NonUsMemberus-gaap:OperatingSegmentsMember2023-01-012023-06-300001402057us-gaap:NonUsMemberus-gaap:OperatingSegmentsMembercdw:SmallBusinessMember2023-01-012023-06-300001402057us-gaap:NonUsMembercdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMember2023-01-012023-06-300001402057us-gaap:NonUsMemberus-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMember2023-01-012023-06-300001402057us-gaap:NonUsMember2023-01-012023-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercdw:TotalHardwareMember2023-01-012023-06-300001402057us-gaap:OperatingSegmentsMembercdw:TotalHardwareMembercdw:SmallBusinessMember2023-01-012023-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercdw:TotalHardwareMember2023-01-012023-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercdw:TotalHardwareMember2023-01-012023-06-300001402057cdw:TotalHardwareMember2023-01-012023-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercdw:SoftwareProductsMember2023-01-012023-06-300001402057us-gaap:OperatingSegmentsMembercdw:SoftwareProductsMembercdw:SmallBusinessMember2023-01-012023-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercdw:SoftwareProductsMember2023-01-012023-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercdw:SoftwareProductsMember2023-01-012023-06-300001402057cdw:SoftwareProductsMember2023-01-012023-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercdw:ServicesMember2023-01-012023-06-300001402057us-gaap:OperatingSegmentsMembercdw:ServicesMembercdw:SmallBusinessMember2023-01-012023-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercdw:ServicesMember2023-01-012023-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercdw:ServicesMember2023-01-012023-06-300001402057cdw:ServicesMember2023-01-012023-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercdw:OtherProductsAndServicesMember2023-01-012023-06-300001402057us-gaap:OperatingSegmentsMembercdw:OtherProductsAndServicesMembercdw:SmallBusinessMember2023-01-012023-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercdw:OtherProductsAndServicesMember2023-01-012023-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercdw:OtherProductsAndServicesMember2023-01-012023-06-300001402057cdw:OtherProductsAndServicesMember2023-01-012023-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercdw:SalesChannelCorporateMember2023-01-012023-06-300001402057us-gaap:OperatingSegmentsMembercdw:SmallBusinessMembercdw:SalesChannelCorporateMember2023-01-012023-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercdw:SalesChannelCorporateMember2023-01-012023-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercdw:SalesChannelCorporateMember2023-01-012023-06-300001402057cdw:SalesChannelCorporateMember2023-01-012023-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercdw:SalesChannelSmallBusinessMember2023-01-012023-06-300001402057us-gaap:OperatingSegmentsMembercdw:SalesChannelSmallBusinessMembercdw:SmallBusinessMember2023-01-012023-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercdw:SalesChannelSmallBusinessMember2023-01-012023-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercdw:SalesChannelSmallBusinessMember2023-01-012023-06-300001402057cdw:SalesChannelSmallBusinessMember2023-01-012023-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercdw:SalesChannelGovernmentMember2023-01-012023-06-300001402057us-gaap:OperatingSegmentsMembercdw:SalesChannelGovernmentMembercdw:SmallBusinessMember2023-01-012023-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercdw:SalesChannelGovernmentMember2023-01-012023-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercdw:SalesChannelGovernmentMember2023-01-012023-06-300001402057cdw:SalesChannelGovernmentMember2023-01-012023-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercdw:SalesChannelEducationMember2023-01-012023-06-300001402057us-gaap:OperatingSegmentsMembercdw:SalesChannelEducationMembercdw:SmallBusinessMember2023-01-012023-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercdw:SalesChannelEducationMember2023-01-012023-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercdw:SalesChannelEducationMember2023-01-012023-06-300001402057cdw:SalesChannelEducationMember2023-01-012023-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercdw:SalesChannelHealthcareMember2023-01-012023-06-300001402057us-gaap:OperatingSegmentsMembercdw:SalesChannelHealthcareMembercdw:SmallBusinessMember2023-01-012023-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercdw:SalesChannelHealthcareMember2023-01-012023-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercdw:SalesChannelHealthcareMember2023-01-012023-06-300001402057cdw:SalesChannelHealthcareMember2023-01-012023-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercdw:SalesChannelOtherMember2023-01-012023-06-300001402057us-gaap:OperatingSegmentsMembercdw:SalesChannelOtherMembercdw:SmallBusinessMember2023-01-012023-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercdw:SalesChannelOtherMember2023-01-012023-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercdw:SalesChannelOtherMember2023-01-012023-06-300001402057cdw:SalesChannelOtherMember2023-01-012023-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercdw:TransferredAtPointInTimePrincipalMember2023-01-012023-06-300001402057us-gaap:OperatingSegmentsMembercdw:TransferredAtPointInTimePrincipalMembercdw:SmallBusinessMember2023-01-012023-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercdw:TransferredAtPointInTimePrincipalMember2023-01-012023-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercdw:TransferredAtPointInTimePrincipalMember2023-01-012023-06-300001402057cdw:TransferredAtPointInTimePrincipalMember2023-01-012023-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMembercdw:TransferredAtPointInTimeAgentMemberus-gaap:OperatingSegmentsMember2023-01-012023-06-300001402057cdw:TransferredAtPointInTimeAgentMemberus-gaap:OperatingSegmentsMembercdw:SmallBusinessMember2023-01-012023-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMembercdw:TransferredAtPointInTimeAgentMemberus-gaap:OperatingSegmentsMember2023-01-012023-06-300001402057cdw:TransferredAtPointInTimeAgentMemberus-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMember2023-01-012023-06-300001402057cdw:TransferredAtPointInTimeAgentMember2023-01-012023-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercdw:TransferredOverTimePrincipalMember2023-01-012023-06-300001402057us-gaap:OperatingSegmentsMembercdw:TransferredOverTimePrincipalMembercdw:SmallBusinessMember2023-01-012023-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercdw:TransferredOverTimePrincipalMember2023-01-012023-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercdw:TransferredOverTimePrincipalMember2023-01-012023-06-300001402057cdw:TransferredOverTimePrincipalMember2023-01-012023-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercountry:US2022-01-012022-06-300001402057us-gaap:OperatingSegmentsMembercountry:UScdw:SmallBusinessMember2022-01-012022-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercountry:US2022-01-012022-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercountry:US2022-01-012022-06-300001402057country:US2022-01-012022-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:NonUsMemberus-gaap:OperatingSegmentsMember2022-01-012022-06-300001402057us-gaap:NonUsMemberus-gaap:OperatingSegmentsMembercdw:SmallBusinessMember2022-01-012022-06-300001402057us-gaap:NonUsMembercdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMember2022-01-012022-06-300001402057us-gaap:NonUsMemberus-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMember2022-01-012022-06-300001402057us-gaap:NonUsMember2022-01-012022-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercdw:TotalHardwareMember2022-01-012022-06-300001402057us-gaap:OperatingSegmentsMembercdw:TotalHardwareMembercdw:SmallBusinessMember2022-01-012022-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercdw:TotalHardwareMember2022-01-012022-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercdw:TotalHardwareMember2022-01-012022-06-300001402057cdw:TotalHardwareMember2022-01-012022-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercdw:SoftwareProductsMember2022-01-012022-06-300001402057us-gaap:OperatingSegmentsMembercdw:SoftwareProductsMembercdw:SmallBusinessMember2022-01-012022-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercdw:SoftwareProductsMember2022-01-012022-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercdw:SoftwareProductsMember2022-01-012022-06-300001402057cdw:SoftwareProductsMember2022-01-012022-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercdw:ServicesMember2022-01-012022-06-300001402057us-gaap:OperatingSegmentsMembercdw:ServicesMembercdw:SmallBusinessMember2022-01-012022-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercdw:ServicesMember2022-01-012022-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercdw:ServicesMember2022-01-012022-06-300001402057cdw:ServicesMember2022-01-012022-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercdw:OtherProductsAndServicesMember2022-01-012022-06-300001402057us-gaap:OperatingSegmentsMembercdw:OtherProductsAndServicesMembercdw:SmallBusinessMember2022-01-012022-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercdw:OtherProductsAndServicesMember2022-01-012022-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercdw:OtherProductsAndServicesMember2022-01-012022-06-300001402057cdw:OtherProductsAndServicesMember2022-01-012022-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercdw:SalesChannelCorporateMember2022-01-012022-06-300001402057us-gaap:OperatingSegmentsMembercdw:SmallBusinessMembercdw:SalesChannelCorporateMember2022-01-012022-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercdw:SalesChannelCorporateMember2022-01-012022-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercdw:SalesChannelCorporateMember2022-01-012022-06-300001402057cdw:SalesChannelCorporateMember2022-01-012022-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercdw:SalesChannelSmallBusinessMember2022-01-012022-06-300001402057us-gaap:OperatingSegmentsMembercdw:SalesChannelSmallBusinessMembercdw:SmallBusinessMember2022-01-012022-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercdw:SalesChannelSmallBusinessMember2022-01-012022-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercdw:SalesChannelSmallBusinessMember2022-01-012022-06-300001402057cdw:SalesChannelSmallBusinessMember2022-01-012022-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercdw:SalesChannelGovernmentMember2022-01-012022-06-300001402057us-gaap:OperatingSegmentsMembercdw:SalesChannelGovernmentMembercdw:SmallBusinessMember2022-01-012022-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercdw:SalesChannelGovernmentMember2022-01-012022-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercdw:SalesChannelGovernmentMember2022-01-012022-06-300001402057cdw:SalesChannelGovernmentMember2022-01-012022-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercdw:SalesChannelEducationMember2022-01-012022-06-300001402057us-gaap:OperatingSegmentsMembercdw:SalesChannelEducationMembercdw:SmallBusinessMember2022-01-012022-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercdw:SalesChannelEducationMember2022-01-012022-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercdw:SalesChannelEducationMember2022-01-012022-06-300001402057cdw:SalesChannelEducationMember2022-01-012022-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercdw:SalesChannelHealthcareMember2022-01-012022-06-300001402057us-gaap:OperatingSegmentsMembercdw:SalesChannelHealthcareMembercdw:SmallBusinessMember2022-01-012022-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercdw:SalesChannelHealthcareMember2022-01-012022-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercdw:SalesChannelHealthcareMember2022-01-012022-06-300001402057cdw:SalesChannelHealthcareMember2022-01-012022-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercdw:SalesChannelOtherMember2022-01-012022-06-300001402057us-gaap:OperatingSegmentsMembercdw:SalesChannelOtherMembercdw:SmallBusinessMember2022-01-012022-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercdw:SalesChannelOtherMember2022-01-012022-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercdw:SalesChannelOtherMember2022-01-012022-06-300001402057cdw:SalesChannelOtherMember2022-01-012022-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercdw:TransferredAtPointInTimePrincipalMember2022-01-012022-06-300001402057us-gaap:OperatingSegmentsMembercdw:TransferredAtPointInTimePrincipalMembercdw:SmallBusinessMember2022-01-012022-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercdw:TransferredAtPointInTimePrincipalMember2022-01-012022-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercdw:TransferredAtPointInTimePrincipalMember2022-01-012022-06-300001402057cdw:TransferredAtPointInTimePrincipalMember2022-01-012022-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMembercdw:TransferredAtPointInTimeAgentMemberus-gaap:OperatingSegmentsMember2022-01-012022-06-300001402057cdw:TransferredAtPointInTimeAgentMemberus-gaap:OperatingSegmentsMembercdw:SmallBusinessMember2022-01-012022-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMembercdw:TransferredAtPointInTimeAgentMemberus-gaap:OperatingSegmentsMember2022-01-012022-06-300001402057cdw:TransferredAtPointInTimeAgentMemberus-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMember2022-01-012022-06-300001402057cdw:TransferredAtPointInTimeAgentMember2022-01-012022-06-300001402057cdw:CorporateSegmentPrivateSectorBusinessMemberus-gaap:OperatingSegmentsMembercdw:TransferredOverTimePrincipalMember2022-01-012022-06-300001402057us-gaap:OperatingSegmentsMembercdw:TransferredOverTimePrincipalMembercdw:SmallBusinessMember2022-01-012022-06-300001402057cdw:PublicSegmentGovernmentAgenciesEducationandHealthcareMemberus-gaap:OperatingSegmentsMembercdw:TransferredOverTimePrincipalMember2022-01-012022-06-300001402057us-gaap:OperatingSegmentsMemberus-gaap:AllOtherSegmentsMembercdw:TransferredOverTimePrincipalMember2022-01-012022-06-300001402057cdw:TransferredOverTimePrincipalMember2022-01-012022-06-300001402057cdw:NotebooksMobileDevicesMember2023-04-012023-06-300001402057cdw:NotebooksMobileDevicesMember2022-04-012022-06-300001402057cdw:NetcommProductsMember2023-04-012023-06-300001402057cdw:NetcommProductsMember2022-04-012022-06-300001402057cdw:CollaborationMember2023-04-012023-06-300001402057cdw:CollaborationMember2022-04-012022-06-300001402057cdw:DataStorageAndServersMember2023-04-012023-06-300001402057cdw:DataStorageAndServersMember2022-04-012022-06-300001402057cdw:DesktopsMember2023-04-012023-06-300001402057cdw:DesktopsMember2022-04-012022-06-300001402057cdw:OtherHardwareMember2023-04-012023-06-300001402057cdw:OtherHardwareMember2022-04-012022-06-300001402057cdw:NotebooksMobileDevicesMember2023-01-012023-06-300001402057cdw:NotebooksMobileDevicesMember2022-01-012022-06-300001402057cdw:NetcommProductsMember2023-01-012023-06-300001402057cdw:NetcommProductsMember2022-01-012022-06-300001402057cdw:CollaborationMember2023-01-012023-06-300001402057cdw:CollaborationMember2022-01-012022-06-300001402057cdw:DataStorageAndServersMember2023-01-012023-06-300001402057cdw:DataStorageAndServersMember2022-01-012022-06-300001402057cdw:DesktopsMember2023-01-012023-06-300001402057cdw:DesktopsMember2022-01-012022-06-300001402057cdw:OtherHardwareMember2023-01-012023-06-300001402057cdw:OtherHardwareMember2022-01-012022-06-300001402057cdw:ChristineLeahyMember2023-01-012023-06-300001402057cdw:ChristineLeahyMember2023-04-012023-06-300001402057cdw:ChristineLeahyMember2023-06-30
Table of Contents

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 FORM 10-Q
(Mark One)
    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 2023
or
    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from                     to             

Commission File Number 001-35985
q1earningsdatepressre_image1.gif
CDW CORPORATION
(Exact name of registrant as specified in its charter) 
Delaware26-0273989
(State or other jurisdiction of
incorporation or organization)
(I.R.S. Employer
Identification No.)
200 N. Milwaukee Avenue
Vernon Hills, Illinois
60061
(Address of principal executive offices)(Zip Code)
(847) 465-6000
(Registrant’s telephone number, including area code)
None
(Former name, former address and former fiscal year, if changed since last report)
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading symbol(s)Name of each exchange on which registered
Common stock, par value $0.01 per shareCDWNasdaq Global Select Market

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.      Yes      No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).      Yes      No


Table of Contents
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of large accelerated filer, accelerated filer, smaller reporting company, and emerging growth company in Rule 12b-2 of the Exchange Act: 
Large accelerated filer  Accelerated filer
Non-accelerated filer☐   Smaller reporting company
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).       Yes      No
As of July 28, 2023, there were 134,047,853 shares of common stock, $0.01 par value, outstanding.


Table of Contents
CDW CORPORATION AND SUBSIDIARIES
FORM 10-Q

TABLE OF CONTENTS

 Page
PART IFINANCIAL INFORMATION
Item 1.
Item 2.
Item 3.
Item 4.
PART IIOTHER INFORMATION
Item 1.
Item 1A.
Item 2.
Item 3.
Item 4.
Item 5.
Item 6.
SIGNATURES




















PART I—FINANCIAL INFORMATION


Table of Contents

Item 1. Financial Statements
CDW CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(dollars and shares in millions, except per share amounts)
June 30, 2023December 31, 2022
Assets(unaudited)
Current assets:
Cash and cash equivalents$203.9 $315.2 
Accounts receivable, net of allowance for credit losses of $26.0 and $25.7, respectively
4,496.9 4,461.3 
Merchandise inventory789.8 800.2 
Miscellaneous receivables518.3 489.1 
Prepaid expenses and other479.1 498.2 
Total current assets6,488.0 6,564.0 
Operating lease right-of-use assets137.2 149.2 
Property and equipment, net194.4 188.8 
Goodwill4,428.2 4,342.7 
Other intangible assets, net1,424.6 1,490.7 
Other assets313.5 396.1 
Total Assets$12,985.9 $13,131.5 
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable-trade$2,866.8 $2,821.3 
Accounts payable-inventory financing616.2 519.0 
Current maturities of long-term debt42.2 56.3 
Contract liabilities442.1 485.5 
Accrued expenses and other current liabilities:
Compensation281.3 377.8 
Advertising147.4 130.5 
Sales and income taxes79.0 73.5 
Other522.3 483.2 
Total current liabilities4,997.3 4,947.1 
Long-term liabilities:
Debt5,721.0 5,866.4 
Deferred income taxes180.2 203.4 
Operating lease liabilities173.6 175.2 
Other liabilities300.6 336.1 
Total long-term liabilities6,375.4 6,581.1 
Commitments and contingencies (Note 8)
Stockholders’ equity:
Preferred stock, $0.01 par value, 100.0 shares authorized; no shares issued or outstanding for both periods
  
Common stock, $0.01 par value, 1,000.0 shares authorized; 134.0 and 135.5 shares outstanding, respectively
1.3 1.4 
Paid-in capital3,599.5 3,518.1 
Accumulated deficit(1,862.8)(1,763.8)
Accumulated other comprehensive loss(124.8)(152.4)
Total stockholders’ equity1,613.2 1,603.3 
Total Liabilities and Stockholders’ Equity$12,985.9 $13,131.5 

The accompanying notes are an integral part of the Consolidated Financial Statements.
3

Table of Contents
CDW CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(dollars and shares in millions, except per-share amounts)
(unaudited)
 Three Months Ended June 30,Six Months Ended June 30,
 2023202220232022
Net sales$5,626.1 $6,145.8 $10,729.2 $12,094.9 
Cost of sales4,444.6 4,977.6 8,458.3 9,822.6 
Gross profit1,181.5 1,168.2 2,270.9 2,272.3 
Selling and administrative expenses769.3 732.9 1,503.4 1,450.1 
Operating income412.2 435.3 767.5 822.2 
Interest expense, net(58.2)(57.7)(115.9)(113.7)
Other expense, net(0.6)(0.4)(1.9)(0.9)
Income before income taxes353.4 377.2 649.7 707.6 
Income tax expense(90.8)(97.9)(157.0)(178.1)
Net income $262.6 $279.3 $492.7 $529.5 
Net income per common share:
Basic$1.95 $2.07 $3.65 $3.92 
Diluted$1.92 $2.04 $3.60 $3.87 
Weighted-average common shares outstanding:
Basic134.6 135.2 135.1 135.1 
Diluted136.1 136.8 136.7 136.8 

The accompanying notes are an integral part of the Consolidated Financial Statements.
4

Table of Contents
CDW CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(dollars in millions)
(unaudited)
 Three Months Ended June 30,Six Months Ended June 30,
2023202220232022
Net income $262.6 $279.3 $492.7 $529.5 
Other comprehensive income:
Unrealized gain from cash flow hedge, net of tax 1.0  1.4 
Reclassification of cash flow hedge to net income, net of tax 0.8  1.6 
Foreign currency translation, net of tax18.0 (38.0)27.6 (47.9)
Other comprehensive income (loss)18.0 (36.2)27.6 (44.9)
Comprehensive income$280.6 $243.1 $520.3 $484.6 

The accompanying notes are an integral part of the Consolidated Financial Statements.
5

Table of Contents
CDW CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(dollars in millions)
(unaudited)
 Six Months Ended June 30,
 20232022
Cash flows from operating activities:
Net income$492.7 $529.5 
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization136.6 142.5 
Equity-based compensation expense45.6 44.6 
Deferred income taxes(24.1)(8.6)
Provision for credit losses8.4 3.7 
Other 20.8 9.1 
Changes in assets and liabilities:
Accounts receivable(13.0)(19.8)
Merchandise inventory17.0 (109.7)
Other assets97.2 (177.2)
Accounts payable-trade(39.7)210.6 
Other liabilities(147.9)136.4 
Net cash provided by operating activities593.6 761.1 
Cash flows from investing activities:
Capital expenditures(71.3)(63.6)
Acquisitions of businesses, net of cash acquired(75.5)(28.0)
Net cash used in investing activities(146.8)(91.6)
Cash flows from financing activities:
Proceeds from borrowings under revolving credit facility201.3 1,479.6 
Repayments of borrowings under revolving credit facility(275.7)(1,672.5)
Repayments of long-term debt(50.0)(35.5)
Repayments of receivable financing liability(40.5)(34.4)
Net change in accounts payable-inventory financing161.6 19.9 
Repurchases of common stock(396.1) 
Proceeds from stock option exercises20.5 15.1 
Payment of incentive compensation plan withholding taxes(32.8)(20.6)
Dividend payments(159.3)(135.0)
Other11.5 8.5 
Net cash used in financing activities(559.5)(374.9)
Effect of exchange rate changes on cash and cash equivalents1.4 (11.1)
Net (decrease) increase in cash and cash equivalents(111.3)283.5 
Cash and cash equivalents—beginning of period315.2 258.1 
Cash and cash equivalents—end of period$203.9 $541.6 
Supplementary disclosure of cash flow information:
Interest paid$(117.0)$(106.4)
Income taxes paid, net$(174.9)$(160.9)

The accompanying notes are an integral part of the Consolidated Financial Statements.
6

Table of Contents
CDW CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
(dollars and shares in millions)
(unaudited)
Three Months Ended June 30, 2023
Common Stock
SharesAmountPaid-in
Capital
Accumulated
Deficit
Accumulated Other Comprehensive Loss
Total
Stockholders’ Equity
Balance as of March 31, 2023135.0 $1.4 $3,557.3 $(1,847.0)$(142.8)$1,568.9 
Net income— — — 262.6 — 262.6 
Equity-based compensation expense— — 24.8 — — 24.8 
Stock option exercises— — 7.7 — — 7.7 
Coworker Stock Purchase Plan 0.1 — 9.4 — — 9.4 
Repurchases of common stock(1.1)(0.1)— (196.0)— (196.1)
Dividends paid ($0.59 per share)
— — 0.3 (79.7)— (79.4)
Incentive compensation plan stock withheld for taxes— — — (1.2)— (1.2)
Foreign currency translation and other— — — (1.5)18.0 16.5 
Balance as of June 30, 2023134.0 $1.3 $3,599.5 $(1,862.8)$(124.8)$1,613.2 

Three Months Ended June 30, 2022
Common Stock
SharesAmountPaid-in
Capital
Accumulated
Deficit
Accumulated Other Comprehensive Loss
Total
Stockholders’ Equity
Balance as of March 31, 2022135.1 $1.4 $3,403.7 $(2,408.9)$(103.1)$893.1 
Net income— — — 279.3 — 279.3 
Equity-based compensation expense— — 23.5 — — 23.5 
Stock option exercises— — 6.8 — — 6.8 
Coworker Stock Purchase Plan 0.1 — 7.4 — — 7.4 
Dividends paid ($0.50 per share)
— — 0.4 (67.9)— (67.5)
Incentive compensation plan stock withheld for taxes— — — (0.2)— (0.2)
Unrealized gain on cash flow hedge— — — — 1.0 1.0 
Reclassification of cash flow hedge to net income— — — — 0.8 0.8 
Foreign currency translation— — — — (38.0)(38.0)
Balance as of June 30, 2022135.2 $1.4 $3,441.8 $(2,197.7)$(139.3)$1,106.2 
7

Table of Contents
CDW CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
(dollars and shares in millions)
(unaudited)
Six Months Ended June 30, 2023
Common Stock
SharesAmountPaid-in
Capital
Accumulated
Deficit
Accumulated Other Comprehensive LossTotal
Stockholders’ Equity
Balance as of December 31, 2022135.5 $1.4 $3,518.1 $(1,763.8)$(152.4)$1,603.3 
Net income— — — 492.7 — 492.7 
Equity-based compensation expense— — 45.6 — — 45.6 
Stock option exercises0.5 — 20.5 — — 20.5 
Coworker Stock Purchase Plan0.1 — 14.4 — — 14.4 
Repurchases of common stock(2.1)(0.1)— (396.0)— (396.1)
Dividends paid ($1.18 per share)
— — 0.9 (160.2)— (159.3)
Incentive compensation plan stock withheld for taxes— — — (32.8)— (32.8)
Foreign currency translation and other— — — (2.7)27.6 24.9 
Balance as of June 30, 2023134.0 $1.3 $3,599.5 $(1,862.8)$(124.8)$1,613.2 

Six Months Ended June 30, 2022
Common Stock
SharesAmountPaid-in
Capital
Accumulated
Deficit
Accumulated Other Comprehensive LossTotal
Stockholders’ Equity
Balance as of December 31, 2021134.8 $1.3 $3,369.5 $(2,570.7)$(94.4)$705.7 
Net income— — — 529.5 — 529.5 
Equity-based compensation expense— — 44.6 — — 44.6 
Stock option exercises0.3 0.1 15.0 — — 15.1 
Coworker Stock Purchase Plan0.1 — 11.8 — — 11.8 
Dividends paid ($1.00 per share)
— — 0.9 (135.9)— (135.0)
Incentive compensation plan stock withheld for taxes— — — (20.6)— (20.6)
Unrealized gain on cash flow hedge— — — — 1.4 1.4 
Reclassification of cash flow hedge to net income— — — — 1.6 1.6 
Foreign currency translation— — — — (47.9)(47.9)
Balance as of June 30, 2022135.2 $1.4 $3,441.8 $(2,197.7)$(139.3)$1,106.2 

The accompanying notes are an integral part of the Consolidated Financial Statements.
8

Table of Contents
CDW CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(dollars in millions, except per share data, unless otherwise noted)

1.    Description of Business and Summary of Significant Accounting Policies
Description of Business
CDW Corporation (“Parent”), a Fortune 500 company and member of the S&P 500 Index, is a leading multi-brand provider of information technology (“IT”) solutions to small, medium and large business, government, education and healthcare customers in the United States (“US”), the United Kingdom (“UK”) and Canada. The Company’s broad array of offerings ranges from discrete hardware and software products to integrated IT solutions and services that include on-premise and cloud capabilities across hybrid infrastructure, digital experience and security.
Throughout this report, the terms the “Company” and “CDW” refer to Parent and its 100% owned subsidiaries.
Parent has two 100% owned subsidiaries, CDW LLC and CDW Finance Corporation. CDW LLC is an Illinois limited liability company that, together with its 100% owned subsidiaries, holds all material assets and conducts all business activities and operations of the Company. CDW Finance Corporation is a Delaware corporation formed for the sole purpose of acting as co-issuer of certain debt obligations and does not hold any material assets or engage in any business activities or operations.
Basis of Presentation
The accompanying unaudited interim Consolidated Financial Statements as of June 30, 2023 and for the three and six months ended June 30, 2023 and 2022 (the “Consolidated Financial Statements”) have been prepared in conformity with accounting principles generally accepted in the United States of America (“US GAAP”) and the rules and regulations of the US Securities and Exchange Commission (the “SEC”) for interim financial statements. Certain information and footnote disclosures normally included in financial statements prepared in accordance with US GAAP have been condensed or omitted pursuant to the rules and regulations of the SEC. The presentation of the Consolidated Financial Statements requires the Company to make estimates and assumptions that affect reported amounts and related disclosures. In the opinion of management, the Consolidated Financial Statements contain all adjustments (consisting of a normal, recurring nature) necessary to present fairly the Company’s financial position, results of operations, comprehensive income, cash flows and changes in stockholders’ equity as of the dates and for the periods indicated. The unaudited results of operations for such interim periods reported are not necessarily indicative of results for the full year.
These Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 (the “December 31, 2022 Consolidated Financial Statements”). The significant accounting policies and estimates used in preparing these Consolidated Financial Statements were applied on a basis consistent with those reflected in the December 31, 2022 Consolidated Financial Statements.
Principles of Consolidation
The Consolidated Financial Statements include the accounts of Parent and its 100% owned subsidiaries. All intercompany transactions and accounts are eliminated in consolidation.

9

Table of Contents
CDW CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(dollars in millions, except per share data, unless otherwise noted)
2.    Recent Accounting Pronouncements
In September 2022, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2022-04, Liabilities—Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations. This ASU requires entities that use supplier finance programs in connection with the purchase of goods and services to disclose key terms of the programs and information about the obligations that are outstanding at the end of the reporting period. This disclosure requirement is intended to provide information about an entity’s use of supplier finance programs and their effect on the entity’s working capital, liquidity and cash flows. The ASU is effective for all entities for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, except for the rollforward requirement, which is effective for fiscal years beginning after December 15, 2023. The Company adopted the standard during the first quarter of 2023 with the exception of the rollforward requirement, which will be adopted during the first quarter of 2024. The adoption of the standard only resulted in new disclosures for amounts presented within Accounts payable - inventory financing and did not affect the Company’s recognition, measurement or financial statement presentation of supplier finance program obligations on the Consolidated Financial Statements. For additional information on the new disclosures, see Note 4 (Inventory Financing Agreements).
3.    Accounts Receivable and Contract Balances
Accounts Receivable
The following table details the total accounts receivable recognized and the related classification on the Consolidated Balance Sheets:
June 30, 2023December 31, 2022
Accounts receivable, current(1)
$4,496.9 $4,461.3 
Accounts receivable, noncurrent(2)
149.6 203.0 
Total accounts receivable$4,646.5 $4,664.3 
(1)Accounts receivable, current are presented within Accounts receivable, net of allowance for credit losses on the Consolidated Balance Sheets.
(2)Accounts receivable, noncurrent are presented within Other assets on the Consolidated Balance Sheets.
From time to time, the Company transfers certain accounts receivable, without recourse, to third-party financial companies as a method to reduce the Company’s credit exposure and accelerate cash collections. Such transfers are recognized as a sale and the related accounts receivable is derecognized from the Consolidated Balance Sheet upon receipt of payment from the third-party financing company. During the six months ended June 30, 2023 and 2022, the Company sold approximately $219 million and $229 million of accounts receivable, respectively.
Contract Balances
Contract assets and liabilities represent the difference in the timing of revenue recognition from receipt of cash from customers. Contract assets represent revenue recognized on performance obligations satisfied or partially satisfied for which the Company has no unconditional right to consideration. Contract liabilities consist of payments received from customers, or such consideration that is contractually due, in advance of providing the product or performing services. The following table details information about the Company’s contract balances recognized on the Consolidated Balance Sheets:
June 30, 2023December 31, 2022
Contract assets(1)
$187.3 $242.1 
Contract liabilities(2)(3)
$489.3 $525.3 
(1)Contract assets are presented within Prepaid expenses and other on the Consolidated Balance Sheets.
(2)Includes $47 million and $40 million of long-term contract liabilities that are presented within Other liabilities on the Consolidated Balance Sheets as of June 30, 2023 and December 31, 2022, respectively.
10

Table of Contents
CDW CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(dollars in millions, except per share data, unless otherwise noted)
(3)During the six months ended June 30, 2023 and 2022, the Company recognized revenue of $265 million and $200 million, respectively, related to its contract liabilities that were included in the beginning balance of the respective periods.
A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. The following table represents the total transaction price for the remaining performance obligations as of June 30, 2023 related to non-cancelable contracts longer than 12 months in duration that is expected to be recognized over future periods.
Within 1 YearYears 1-2Years 2-3Thereafter
Remaining performance obligations$49.9 $26.7 $9.4 $0.9 
4.    Inventory Financing Agreements
The Company has entered into agreements with financial institutions to facilitate the purchase of inventory from designated suppliers under certain terms and conditions to enhance liquidity. Under these agreements, the Company receives extended payment terms and agrees to pay the financial institution a stated amount of confirmed invoices from its designated suppliers. The Company does not incur any interest or other incremental expenses associated with these agreements as balances are paid when they are due. Additionally, the Company has no involvement in establishing the terms or conditions of the arrangements between its suppliers and the financial institution.
The amounts outstanding under these agreements as of June 30, 2023 and December 31, 2022 were $616 million and $519 million, respectively, and are separately presented as Accounts payable-inventory financing on the Consolidated Balance Sheets. The majority of such outstanding amounts relates to a floorplan sub-facility that is incorporated in the Company’s Revolving Loan Facility (as defined below). A portion of the Company’s availability under the Revolving Loan Facility is reserved to cover the obligation to pay the financial institution. For additional information regarding the Revolving Loan Facility, see Note 5 (Debt).
11

Table of Contents
CDW CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(dollars in millions, except per share data, unless otherwise noted)
5.    Debt
As of June 30, 2023As of December 31, 2022
Maturity DateInterest RateAmountInterest RateAmount
Credit Facility
Senior unsecured revolving loan facilityDecember 2026Variable$ Variable$72.5 
Term Loan
Senior unsecured term loan facilityDecember 2026Variable734.5 Variable784.5 
Unsecured Senior Notes
Senior notes due 2024December 20245.500 %575.0 5.500 %575.0 
Senior notes due 2025May 20254.125 %600.0 4.125 %600.0 
Senior notes due 2026December 20262.670 %1,000.0 2.670 %1,000.0 
Senior notes due 2028April 20284.250 %600.0 4.250 %600.0 
Senior notes due 2028December 20283.276 %500.0 3.276 %500.0 
Senior notes due 2029February 20293.250 %700.0 3.250 %700.0 
Senior notes due 2031December 20313.569 %1,000.0 3.569 %1,000.0 
Total unsecured senior notes4,975.0 4,975.0 
Receivable financing liability76.4 115.4 
Other long-term obligations9.6 11.6 
Unamortized deferred financing fees(32.3)(36.3)
Current maturities of long-term debt(42.2)(56.3)
Total long-term debt$5,721.0 $5,866.4 
As of June 30, 2023, the Company is in compliance with the covenants under its credit agreements and indentures.
Credit Facility
The Company has a variable rate senior unsecured revolving loan facility (the “Revolving Loan Facility”) from which it may draw tranches denominated in US dollars, British pounds or Euros. During the six months ended June 30, 2023, the interest rate was based on London Interbank Offer Rate (“LIBOR”) plus a margin or an alternate base rate plus a margin, where the margin is based on the Company’s senior unsecured rating. The Revolving Loan Facility is used by the Company for borrowings, issuances of letters of credit and floorplan financing. As of June 30, 2023, the Company could have borrowed up to an additional $1.0 billion under the Revolving Loan Facility. As of June 30, 2023, the Revolving Loan Facility had less than $1 million of undrawn letters of credit and $616 million reserved for the floorplan sub-facility.
On June 7, 2023, the Revolving Loan Facility was amended to replace LIBOR with the Secured Overnight Financing Rate (“SOFR”) as the interest rate benchmark, which will take into effect for the first interest rate period beginning after July 1, 2023.
Term Loan
The senior unsecured term loan facility (the “Term Loan Facility”) has a variable interest rate. The interest rate is based on LIBOR plus a margin, where the margin is determined by the Company’s senior unsecured credit rating. During the six months ended June 30, 2023, the Company prepaid $50 million on the Term Loan Facility without penalty. As a result of the prepayments made to date, no additional mandatory payments are required on the remaining principal amount until its maturity date on December 1, 2026.
12

Table of Contents
CDW CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(dollars in millions, except per share data, unless otherwise noted)
On June 7, 2023, the Term Loan Facility was amended to replace LIBOR with SOFR as the interest rate benchmark, which will take into effect for the first interest rate period beginning after July 1, 2023.
Unsecured Senior Notes
The unsecured senior notes have a fixed interest rate, which is paid semi-annually.
Receivable Financing
The receivable financing liability relates to certain accounts receivable transferred to third-party financial institutions that did not qualify as a sale under the terms of the agreements. While the terms of such agreements are on a nonrecourse basis, the transfers of accounts receivable could not achieve certain criteria that would allow derecognition of the accounts receivable. The proceeds from these arrangements are recognized as a liability and the associated accounts receivable remains on the Consolidated Balance Sheet until the liability is settled. The Company did not execute any transfers under these agreements during the six months ended June 30, 2023.
Fair Value
The fair values of the unsecured senior notes were estimated using quoted market prices for identical liabilities that are traded in over-the-counter secondary markets. The fair value of the Term Loan Facility was estimated using dealer quotes for identical liabilities in markets that are not considered active. The unsecured senior notes and Term Loan Facility were classified as Level 2 within the fair value hierarchy. The carrying value of the Revolving Loan Facility approximates fair value.
The approximate fair values and related carrying values of the Company’s long-term debt, including current maturities and excluding unamortized discount and unamortized deferred financing costs, were as follows:
June 30, 2023December 31, 2022
Fair value$5,300.5 $5,412.6 
Carrying value5,795.5 5,959.0 
6.    Income Taxes
Income tax expense was $91 million and $98 million for the three months ended June 30, 2023 and 2022, respectively. The effective tax rate, expressed by calculating the income tax expense as a percentage of Income before income taxes, was 25.7% and 26.0% for the three months ended June 30, 2023 and 2022, respectively.
Income tax expense was $157 million and $178 million for the six months ended June 30, 2023 and 2022, respectively. The effective tax rate, expressed by calculating the income tax expense as a percentage of Income before income taxes, was 24.2% and 25.2% for the six months ended June 30, 2023 and 2022, respectively.
The effective tax rate for both the three and six months ended June 30, 2023 and June 30, 2022 differed from the US federal statutory rate of 21.0% primarily due to state and local income taxes, partially offset by excess tax benefits on equity-based compensation.
13

Table of Contents
CDW CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(dollars in millions, except per share data, unless otherwise noted)
7.    Earnings Per Share
The numerator for both basic and diluted earnings per share is Net income. The denominator for basic earnings per share is the weighted-average shares outstanding during the period.
A reconciliation of basic weighted-average shares outstanding to diluted weighted-average shares outstanding is as follows:
Three Months Ended June 30,Six Months Ended June 30,
2023202220232022
Basic weighted-average shares outstanding134.6135.2135.1135.1 
Effect of dilutive securities(1)
1.51.61.61.7 
Diluted weighted-average shares outstanding(2)
136.1136.8136.7136.8 
(1)The dilutive effect of outstanding stock options, restricted stock units, performance share units and Coworker Stock Purchase Plan units is reflected in the diluted weighted-average shares outstanding using the treasury stock method.
(2)There were fewer than 0.3 million potential common shares excluded from diluted weighted-average shares outstanding for both the three and six months ended June 30, 2023 and 2022. Inclusion of these common shares in diluted weighted average shares outstanding would have had an anti-dilutive effect.
8.    Commitments and Contingencies
The Company is party to various legal proceedings that arise in the ordinary course of its business, which include commercial, intellectual property, employment, tort and other litigation matters. The Company is also subject to audit by federal, state, international, national, provincial and local authorities, and by various partners, group purchasing organizations and customers, including government agencies, relating to purchases and sales under various contracts. In addition, the Company is subject to indemnification claims under various contracts. From time to time, certain customers of the Company file voluntary petitions for reorganization or liquidation under the US bankruptcy laws or similar laws of the jurisdictions for the Company’s business activities outside of the US. In such cases, certain pre-petition payments received by the Company could be considered preference items and subject to return to the bankruptcy administrator.
As of June 30, 2023, the Company does not believe that there is a reasonable possibility that any material loss exceeding the amounts already recognized for these proceedings and matters, if any, has been incurred. However, the ultimate resolutions of these proceedings and matters are inherently unpredictable. As such, the Company’s Consolidated Financial Statements could be adversely affected in any particular period by the unfavorable resolution of one or more of these proceedings or matters.
A subsidiary of the Company received a Civil Investigative Demand dated September 20, 2021 from the Department of Justice (“DOJ”) in connection with a False Claims Act investigation. The DOJ requested information related to teaming agreements with original equipment manufacturers and the Company is cooperating with the DOJ. At this stage of the matter, the Company is unable to assess the probability of any outcome or the range of possible loss, if any.
14

Table of Contents
CDW CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(dollars in millions, except per share data, unless otherwise noted)
9.    Segment Information
The Company’s segment information reflects the way the chief operating decision maker uses internal reporting to evaluate business performance, allocate resources and manage operations.
The Company has three reportable segments: Corporate, which is comprised primarily of private sector business customers with more than 250 employees in the US, Small Business, primarily servicing private sector business customers with up to 250 employees in the US, and Public, which is comprised of government agencies and education and healthcare institutions in the US. The Company has two other operating segments: CDW UK and CDW Canada, both of which do not meet the reportable segment quantitative thresholds and, accordingly, are included in an all other category (“Other”).
The Company has centralized logistics and headquarters functions that provide services to the segments. The logistics function includes purchasing, distribution and fulfillment services to support the Corporate, Small Business and Public segments. As a result, costs and intercompany charges associated with the logistics function are fully allocated to all of these segments based on a percent of Net sales. The centralized headquarters function provides services in areas such as accounting, information technology, marketing, legal and coworker services. Headquarters function costs that are not allocated to the segments are included under the heading of “Headquarters” in the tables below.
Information about the Company’s segments is as follows:
CorporateSmall BusinessPublicOtherHeadquartersTotal
Three Months Ended June 30, 2023
Net sales$2,245.0 $396.2 $2,295.1 $689.8 $ $5,626.1 
Operating income (loss)206.5 42.4 210.3 32.4 (79.4)412.2 
Depreciation and amortization expense(19.6)(1.1)(14.2)(7.5)(23.5)(65.9)
Three Months Ended June 30, 2022
Net sales$2,660.7 $500.0 $2,243.0 $742.1 $ $6,145.8 
Operating income (loss)231.2 47.0 177.2 27.8 (47.9)435.3 
Depreciation and amortization expense(23.6)(1.9)(16.5)(8.1)(21.0)(71.1)
Six Months Ended June 30, 2023
Net sales$4,448.7 $807.6 $4,107.9 $1,365.0 $ $10,729.2 
Operating income (loss)399.8 83.9 337.8 68.9 (122.9)767.5 
Depreciation and amortization expense(42.4)(2.4)(30.4)(15.3)(46.1)(136.6)
Six Months Ended June 30, 2022
Net sales$5,288.3 $1,024.0 $4,276.0 $1,506.6 $ $12,094.9 
Operating income (loss)441.2 93.7 319.0 64.5 (96.2)822.2 
Depreciation and amortization expense(48.6)(3.3)(32.8)(16.5)(41.3)(142.5)
15

Table of Contents
CDW CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(dollars in millions, except per share data, unless otherwise noted)
Geographic Areas and Revenue Mix
 Three Months Ended June 30, 2023
CorporateSmall BusinessPublicOtherTotal
Geography(1)
United States$2,214.0 $390.7 $2,293.8 $5.4 $4,903.9 
Rest of World31.0 5.5 1.3 684.4 722.2 
Total Net sales2,245.0 396.2 2,295.1 689.8 5,626.1 
Major Product and Services
Hardware1,596.4 317.5 1,884.9 481.5 4,280.3 
Software388.8 58.6 274.1 142.6 864.1 
Services243.4 15.5 131.4 62.9 453.2 
Other(2)
16.4 4.6 4.7 2.8 28.5 
Total Net sales2,245.0 396.2 2,295.1 689.8 5,626.1 
Sales by Channel
Corporate2,245.0    2,245.0 
Small Business 396.2   396.2 
Government  681.2  681.2 
Education  1,026.8  1,026.8 
Healthcare  587.1  587.1 
Other   689.8 689.8 
Total Net sales2,245.0 396.2 2,295.1 689.8 5,626.1 
Timing of Revenue Recognition
Transferred at a point in time where CDW is principal1,891.3 354.9 2,080.7 607.3 4,934.2 
Transferred at a point in time where CDW is agent185.0 32.9 116.7 26.7 361.3 
Transferred over time where CDW is principal168.7 8.4 97.7 55.8 330.6 
Total Net sales$2,245.0 $396.2 $2,295.1 $689.8 $5,626.1 
(1)Net sales by geography is generally based on the ship-to address with the exception of certain services that may be performed at, or on behalf of, multiple locations. Such service arrangements are categorized based on the bill-to address.
(2)Includes items such as delivery charges to customers.
16

Table of Contents
CDW CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(dollars in millions, except per share data, unless otherwise noted)
Three Months Ended June 30, 2022
CorporateSmall BusinessPublicOtherTotal
Geography(1)
United States$2,655.4 $500.0 $2,243.0 $4.1 $5,402.5 
Rest of World5.3   738.0 743.3 
Total Net sales2,660.7 500.0 2,243.0 742.1 6,145.8 
Major Product and Services
Hardware1,989.3 419.7 1,797.1 515.8 4,721.9 
Software423.0 55.0 288.7 154.2 920.9 
Services228.9 19.8 152.4 68.6 469.7 
Other(2)
19.5 5.5 4.8 3.5 33.3 
Total Net sales2,660.7 500.0 2,243.0 742.1 6,145.8 
Sales by Channel
Corporate2,660.7    2,660.7 
Small Business 500.0   500.0 
Government  609.5  609.5 
Education  1,041.3  1,041.3 
Healthcare  592.2  592.2 
Other   742.1 742.1 
Total Net sales2,660.7 500.0 2,243.0 742.1 6,145.8 
Timing of Revenue Recognition
Transferred at a point in time where CDW is principal2,325.9 456.2 2,032.4 662.6 5,477.1 
Transferred at a point in time where CDW is agent172.3 33.4 103.5 19.3 328.5 
Transferred over time where CDW is principal162.5 10.4 107.1 60.2 340.2 
Total Net sales$2,660.7 $500.0 $2,243.0 $742.1 $6,145.8 
(1)Net sales by geography is generally based on the ship-to address with the exception of certain services that may be performed at, or on behalf of, multiple locations. Such service arrangements are categorized based on the bill-to address.
(2)Includes items such as delivery charges to customers.
17

Table of Contents
CDW CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(dollars in millions, except per share data, unless otherwise noted)
Six Months Ended June 30, 2023
CorporateSmall BusinessPublicOtherTotal
Geography(1)
United States$4,413.2 $800.3 $4,106.4 $13.9 $9,333.8 
Rest of World35.5 7.3 1.5 1,351.1 1,395.4 
Total Net sales4,448.7 807.6 4,107.9 1,365.0 10,729.2 
Major Product and Services
Hardware3,115.8 652.2 3,247.4 953.1 7,968.5 
Software841.8 114.8 575.6 276.6 1,808.8 
Services458.9 31.2 275.8 129.4 895.3 
Other(2)
32.2 9.4 9.1 5.9 56.6 
Total Net sales4,448.7