10-Q Filing

INSIGHT ENTERPRISES INC CIK: 932696 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001193125-17-160716`
Period End Date	20170331
Filing Date	20170505
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	nsit-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 82 Income Statement 35 Cash Flow Statement 66 Comprehensive Income 6

Balance Sheet 82 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$9.14M	USD	Point-in-time
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$9.42M	USD	Point-in-time
Accumulated depreciation and amortization of property and equipment	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$308.13M	USD	Point-in-time
Accumulated depreciation and amortization of property and equipment	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$303.06M	USD	Point-in-time
Accumulated amortization of intangible assets	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$26.78M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$183.71M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$173.91M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$187.98M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$202.88M	USD	Point-in-time
Accumulated amortization of intangible assets	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$22.98M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $9,423 and $9,138, respectively	`AccountsReceivableNetCurrent`	$1.44B	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $9,423 and $9,138, respectively	`AccountsReceivableNetCurrent`	$1.39B	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	3.00M	shares	Point-in-time
Inventories	`InventoryNet`	$164.56M	USD	Point-in-time
Inventories	`InventoryNet`	$148.20M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	3.00M	shares	Point-in-time
Inventories not available for sale	`OtherInventory`	$68.62M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Inventories not available for sale	`OtherInventory`	$75.96M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$127.16M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$148.74M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.96B	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.98B	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	35.48M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	35.75M	shares	Point-in-time
Property and equipment, net of accumulated depreciation and amortization of $303,058 and $308,127, respectively	`PropertyPlantAndEquipmentNet`	$70.91M	USD	Point-in-time
Property and equipment, net of accumulated depreciation and amortization of $303,058 and $308,127, respectively	`PropertyPlantAndEquipmentNet`	$79.31M	USD	Point-in-time
Goodwill	`Goodwill`	$62.65M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	35.75M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	35.48M	shares	Point-in-time
Goodwill	`Goodwill`	$128.16M	USD	Point-in-time
Intangible assets, net of accumulated amortization of $26,777 and $22,982, respectively	`FiniteLivedIntangibleAssetsNet`	$111.24M	USD	Point-in-time
Intangible assets, net of accumulated amortization of $26,777 and $22,982, respectively	`FiniteLivedIntangibleAssetsNet`	$20.71M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$49.51M	USD	Point-in-time
Deferred income taxes	`DeferredTaxAssetsNetNoncurrent`	$52.35M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$29.09M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$62.01M	USD	Point-in-time
Total assets	`Assets`	$2.22B	USD	Point-in-time
Total assets	`Assets`	$2.39B	USD	Point-in-time
Accounts payable-trade	`AccountsPayableTradeCurrent`	$1.07B	USD	Point-in-time
Accounts payable-trade	`AccountsPayableTradeCurrent`	$772.76M	USD	Point-in-time
Accounts payable-inventory financing facility	`AccountsPayableOtherCurrent`	$154.93M	USD	Point-in-time
Accounts payable-inventory financing facility	`AccountsPayableOtherCurrent`	$174.26M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$157.05M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$151.90M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$480.00K	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$15.14M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$61.10M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$119.66M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.24B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.44B	USD	Point-in-time
Long-term debt	`LongTermDebtAndCapitalLeaseObligations`	$360.62M	USD	Point-in-time
Long-term debt	`LongTermDebtAndCapitalLeaseObligations`	$40.25M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesGrossNoncurrent`	$10.76M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesGrossNoncurrent`	$900.00K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$47.01M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$26.04M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.51B	USD	Point-in-time
Total liabilities	`Liabilities`	$1.66B	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.01 par value, 3,000 shares authorized; no shares issued	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.01 par value, 3,000 shares authorized; no shares issued	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.01 par value, 100,000 shares authorized; 35,750 shares at March 31, 2017 and 35,484 shares at December 31, 2016 issued and outstanding	`CommonStockValue`	$358.00K	USD	Point-in-time
Common stock, $0.01 par value, 100,000 shares authorized; 35,750 shares at March 31, 2017 and 35,484 shares at December 31, 2016 issued and outstanding	`CommonStockValue`	$355.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$308.53M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$309.65M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$459.54M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$473.38M	USD	Point-in-time
Accumulated other comprehensive loss - foreign currency translation adjustments	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-48.82M	USD	Point-in-time
Accumulated other comprehensive loss - foreign currency translation adjustments	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-56.10M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$733.46M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$713.44M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$2.39B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$2.22B	USD	Point-in-time

Income Statement 35 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$1.48B	USD	1 Quarter
Net sales	`SalesRevenueNet`	$1.17B	USD	1 Quarter
Costs of goods sold	`CostOfGoodsAndServicesSold`	$1.27B	USD	1 Quarter
Costs of goods sold	`CostOfGoodsAndServicesSold`	$1.01B	USD	1 Quarter
Gross profit	`GrossProfit`	$161.11M	USD	1 Quarter
Gross profit	`GrossProfit`	$208.23M	USD	1 Quarter
Selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$177.63M	USD	1 Quarter
Selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$146.12M	USD	1 Quarter
Severance and restructuring expenses	`RestructuringCharges`	$4.70M	USD	1 Quarter
Severance and restructuring expenses	`RestructuringCharges`	$1.36M	USD	1 Quarter
Acquisition-related expenses	`BusinessCombinationAcquisitionRelatedCosts`	$2.95M	USD	1 Quarter
Earnings from operations	`OperatingIncomeLoss`	$13.63M	USD	1 Quarter
Earnings from operations	`OperatingIncomeLoss`	$22.95M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$431.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$250.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$1.85M	USD	1 Quarter
Interest expense	`InterestExpense`	$3.93M	USD	1 Quarter
Net foreign currency exchange loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$-380.00K	USD	1 Quarter
Net foreign currency exchange loss	`ForeignCurrencyTransactionGainLossBeforeTax`	$-616.00K	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-315.00K	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-268.00K	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$11.15M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$18.76M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$4.91M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$4.26M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$13.85M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$6.89M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.39	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.19	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.38	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.18	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	37.08M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	35.60M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	37.39M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	36.19M	shares	1 Quarter

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$13.85M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$6.89M	USD	1 Quarter
Depreciation and amortization of property and equipment	`Depreciation`	$6.83M	USD	1 Quarter
Depreciation and amortization of property and equipment	`Depreciation`	$6.94M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$3.24M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$4.22M	USD	1 Quarter
Provision for losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$921.00K	USD	1 Quarter
Provision for losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$608.00K	USD	1 Quarter
Write-downs of inventories	`InventoryWriteDown`	$967.00K	USD	1 Quarter
Write-downs of inventories	`InventoryWriteDown`	$392.00K	USD	1 Quarter
Non-cash stock-based compensation	`ShareBasedCompensation`	$2.80M	USD	1 Quarter
Non-cash stock-based compensation	`ShareBasedCompensation`	$3.41M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-573.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.00K	USD	1 Quarter
Decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-182.71M	USD	1 Quarter
Decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-265.22M	USD	1 Quarter
Increase in inventories	`IncreaseDecreaseInInventories`	$22.26M	USD	1 Quarter
Increase in inventories	`IncreaseDecreaseInInventories`	$11.33M	USD	1 Quarter
Decrease (increase) in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-1.04M	USD	1 Quarter
Decrease (increase) in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$8.26M	USD	1 Quarter
Decrease in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-334.22M	USD	1 Quarter
Decrease in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-297.71M	USD	1 Quarter
Increase in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$3.37M	USD	1 Quarter
Increase in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$9.81M	USD	1 Quarter
Decrease in accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-19.66M	USD	1 Quarter
Decrease in accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-18.24M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-152.10M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-46.93M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.05M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.90M	USD	1 Quarter
Acquisition of Datalink, net of cash and cash equivalents acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$180.86M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-190.91M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-2.90M	USD	1 Quarter
Borrowings on senior revolving credit facility	`ProceedsFromLongTermLinesOfCredit`	$169.11M	USD	1 Quarter
Borrowings on senior revolving credit facility	`ProceedsFromLongTermLinesOfCredit`	$214.92M	USD	1 Quarter
Repayments on senior revolving credit facility	`RepaymentsOfLongTermLinesOfCredit`	$214.92M	USD	1 Quarter
Repayments on senior revolving credit facility	`RepaymentsOfLongTermLinesOfCredit`	$169.11M	USD	1 Quarter
Borrowings on accounts receivable securitization financing facility	`ProceedsFromAccountsReceivableSecuritization`	$918.50M	USD	1 Quarter
Borrowings on accounts receivable securitization financing facility	`ProceedsFromAccountsReceivableSecuritization`	$516.00M	USD	1 Quarter
Repayments on accounts receivable securitization financing facility	`RepaymentsOfAccountsReceivableSecuritization`	$465.00M	USD	1 Quarter
Repayments on accounts receivable securitization financing facility	`RepaymentsOfAccountsReceivableSecuritization`	$762.00M	USD	1 Quarter
Borrowings under Term Loan A	`ProceedsFromIssuanceOfLongTermDebt`	$175.00M	USD	1 Quarter
Repayments under other financing agreements	`RepaymentsOfOtherLongTermDebt`	$3.42M	USD	1 Quarter
Repayments under other financing agreements	`RepaymentsOfOtherLongTermDebt`	$632.00K	USD	1 Quarter
Payments on capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$56.00K	USD	1 Quarter
Payments on capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$128.00K	USD	1 Quarter
Net repayments under inventory financing facility	`ProceedsFromRepaymentsOfOtherDebt`	$-4.26M	USD	1 Quarter
Net repayments under inventory financing facility	`ProceedsFromRepaymentsOfOtherDebt`	$-4.17M	USD	1 Quarter
Payment of debt issuance costs	`PaymentsOfFinancingCosts`	$1.12M	USD	1 Quarter
Payment of payroll taxes on stock-based compensation through shares withheld	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$2.10M	USD	1 Quarter
Payment of payroll taxes on stock-based compensation through shares withheld	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$4.53M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$13.46M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$30.49M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$318.13M	USD	1 Quarter
Foreign currency exchange effect on cash and cash equivalent balances	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$5.71M	USD	1 Quarter
Foreign currency exchange effect on cash and cash equivalent balances	`EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations`	$5.27M	USD	1 Quarter
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-14.07M	USD	1 Quarter
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-19.17M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$202.88M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$187.98M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$183.71M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$173.91M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$187.98M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$183.71M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$202.88M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$173.91M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$13.85M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$6.89M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$7.42M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$7.28M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$21.13M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$14.31M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.