Investments in Affiliated Companies

12 Months Ended

Dec. 31, 2022

Equity Method Investments and Joint Ventures [Abstract]

Investments in Affiliated Companies [Text Block]

Investments in Affiliated Companies

The company owns a 50% interest in two joint ventures with Marubun Corporation (collectively “Marubun/Arrow”) and a 50% interest in one other joint venture. These investments are accounted for using the equity method.

The following table presents the company's investment in affiliated companies:

(thousands)	2022		2021
Marubun/Arrow	$	54,292	$	53,415
Other	10,820		10,280
	$	65,112	$	63,695

The equity in earnings (losses) of affiliated companies consists of the following:

(thousands)	2022		2021		2020
Marubun/Arrow	$	6,289	$	2,684	$	(726)
Other	1,375		824		195
	$	7,664	$	3,508	$	(531)

Under the terms of various joint venture agreements, the company is required to pay its pro-rata share of the third party debt of the joint ventures in the event that the joint ventures are unable to meet their obligations. There were no outstanding borrowings under the third party debt agreements of the joint ventures as of December 31, 2022 and 2021.