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Segment and Geographic Information (Tables)

12 Months Ended

Dec. 31, 2023

Summary of Revenue Disaggregated by Reportable Operating Segments

Disaggregation of Revenue

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 years ended December 31, 2023, 2022 and 2021 (in thousands):


	Year Ended December 31, 2023
	North America		EMEA		APAC		Consolidated
Major Offerings
Hardware	$	4,498,466	$	546,621	$	43,850	$	5,088,937
Software	1,669,046		784,717		88,688		2,542,451
Services	1,214,842		232,316		97,294		1,544,452
	$	7,382,354	$	1,563,654	$	229,832	$	9,175,840
Major Client Groups
Large Enterprise / Corporate	$	5,210,365	$	1,176,415	$	94,982	$	6,481,762
Commercial	1,418,680		22,103		70,879		1,511,662
Public Sector	753,309		365,136		63,971		1,182,416
	$	7,382,354	$	1,563,654	$	229,832	$	9,175,840
Revenue Recognition based on acting as Principal or Agent in the Transaction
Gross revenue recognition (Principal)	$	6,869,025	$	1,447,082	$	194,769	$	8,510,876
Net revenue recognition (Agent)	513,329		116,572		35,063		664,964
	$	7,382,354	$	1,563,654	$	229,832	$	9,175,840


	Year Ended December 31, 2022
	North America		EMEA		APAC		Consolidated
Major Offerings
Hardware	$	5,738,586	$	654,381	$	57,928	$	6,450,895
Software	1,552,715		857,516		86,661		2,496,892
Services	1,193,091		200,624		89,689		1,483,404
	$	8,484,392	$	1,712,521	$	234,278	$	10,431,191
Major Client Groups
Large Enterprise / Corporate	$	5,990,203	$	1,249,286	$	102,476	$	7,341,965
Commercial	1,710,340		61,873		68,491		1,840,704
Public Sector	783,849		401,362		63,311		1,248,522
	$	8,484,392	$	1,712,521	$	234,278	$	10,431,191
Revenue Recognition based on acting as Principal or Agent in the Transaction
Gross revenue recognition (Principal)	$	8,035,218	$	1,603,600	$	199,788	$	9,838,606
Net revenue recognition (Agent)	449,174		108,921		34,490		592,585
	$	8,484,392	$	1,712,521	$	234,278	$	10,431,191


	Year Ended December 31, 2021
	North America		EMEA		APAC		Consolidated
Major Offerings
Hardware	$	5,163,225	$	676,815	$	49,470	$	5,889,510
Software	1,315,412		825,361		89,844		2,230,617
Services	1,041,686		201,875		72,425		1,315,986
	$	7,520,323	$	1,704,051	$	211,739	$	9,436,113
Major Client Groups
Large Enterprise / Corporate	$	5,356,915	$	1,219,601	$	93,796	$	6,670,312
Commercial	1,495,311		65,728		61,627		1,622,666
Public Sector	668,097		418,722		56,316		1,143,135
	$	7,520,323	$	1,704,051	$	211,739	$	9,436,113
Revenue Recognition based on acting as Principal or Agent in the Transaction
Gross revenue recognition (Principal)	$	7,138,852	$	1,591,156	$	184,418	$	8,914,426
Net revenue recognition (Agent)	381,471		112,895		27,321		521,687
	$	7,520,323	$	1,704,051	$	211,739	$	9,436,113

Financial Information about Reportable Operating Segments

The tables below present information about our reportable operating segments (in thousands):


	Year Ended December 31, 2023
	North America		EMEA		APAC		Consolidated
Net sales:
Products	$	6,167,512	$	1,331,338	$	132,538	$	7,631,388
Services	1,214,842		232,316		97,294		1,544,452
Total net sales	7,382,354		1,563,654		229,832		9,175,840
Costs of goods sold:
Products	5,520,701		1,217,585		120,892		6,859,178
Services	515,698		86,082		45,357		647,137
Total costs of goods sold	6,036,399		1,303,667		166,249		7,506,315
Gross profit	1,345,955		259,987		63,583		1,669,525
Operating expenses:
Selling and administrative expenses	976,172		216,246		43,825		1,236,243
Severance and restructuring expenses	3,793		2,125		173		6,091
Acquisition and integration related expenses	3,908		3,488		—		7,396
Earnings from operations	$	362,082	$	38,128	$	19,585	$	419,795


	Year Ended December 31, 2022
	North America		EMEA		APAC		Consolidated
Net sales:
Products	$	7,291,301	$	1,511,897	$	144,589	$	8,947,787
Services	1,193,091		200,624		89,689		1,483,404
Total net sales	8,484,392		1,712,521		234,278		10,431,191
Costs of goods sold:
Products	6,583,090		1,395,869		132,293		8,111,252
Services	572,969		69,383		41,020		683,372
Total costs of goods sold	7,156,059		1,465,252		173,313		8,794,624
Gross profit	1,328,333		247,269		60,965		1,636,567
Operating expenses:
Selling and administrative expenses	973,798		200,988		41,874		1,216,660
Severance and restructuring expenses	2,384		1,760		91		4,235
Acquisition and integration related expenses	1,715		257		—		1,972
Earnings from operations	$	350,436	$	44,264	$	19,000	$	413,700


	Year Ended December 31, 2021
	North America		EMEA		APAC		Consolidated
Net sales:
Products	$	6,478,637	$	1,502,176	$	139,314	$	8,120,127
Services	1,041,686		201,875		72,425		1,315,986
Total net sales	7,520,323		1,704,051		211,739		9,436,113
Costs of goods sold:
Products	5,874,551		1,380,221		126,136		7,380,908
Services	510,322		64,968		32,358		607,648
Total costs of goods sold	6,384,873		1,445,189		158,494		7,988,556
Gross profit	1,135,450		258,862		53,245		1,447,557
Operating expenses:
Selling and administrative expenses	869,766		210,616		36,748		1,117,130
Severance and restructuring expenses	(3,129)		1,328		167		(1,634)

Earnings from operations	$	268,813	$	46,918	$	16,330	$	332,061

Summary of Total Assets by Reportable Operating Segment

The following table is a summary of our total assets by reportable operating segment (in thousands):


	December 31,
	2023		2022
North America	$	6,521,591	$	5,219,480
EMEA	1,058,734		939,327
APAC	171,820		153,232
Corporate assets and intercompany eliminations, net	(1,465,795)		(1,199,458)
Total assets	$	6,286,350	$	5,112,581

Summary of Geographic Net Sales and Long-Lived Assets

The following is a summary of our geographic net sales and long-lived assets, consisting of property and equipment, net (in thousands):


	United States		United Kingdom		Other Foreign		Total
2023
Net sales	$	6,923,030	$	709,078	$	1,543,732	$	9,175,840
Total long-lived assets	$	187,625	$	4,748	$	17,688	$	210,061
2022
Net sales	$	7,973,814	$	838,943	$	1,618,434	$	10,431,191
Total long-lived assets	$	182,482	$	4,601	$	17,177	$	204,260
2021
Net sales	$	7,046,742	$	826,800	$	1,562,571	$	9,436,113
Total long-lived assets	$	144,777	$	9,282	$	22,204	$	176,263

Pre-Tax Depreciation and Amortization by Operating Segment

We recorded the following pre-tax amounts, by operating segment, for depreciation and amortization in the accompanying consolidated financial statements (in thousands):


	Years Ended December 31,
	2023		2022		2021
Depreciation and amortization of property and equipment:
North America	$	22,964	$	20,587	$	18,532
EMEA	2,838		2,538		4,256
APAC	443		597		588
	26,245		23,722		23,376
Amortization of intangible assets:
North America	32,514		30,735		29,576
EMEA	3,277		1,696		1,971
APAC	440		461		498
	36,231		32,892		32,045
Total	$	62,476	$	56,614	$	55,421