10-Q Filing

PC CONNECTION INC CIK: 1050377 Q2 2017

Filing Information

Form Type	10-Q
Accession Number	`0001558370-17-006002`
Period End Date	20170630
Filing Date	20170804
Fiscal Year	2017
Fiscal Period	Q2
XBRL Instance	pccc-20170630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 50 Income Statement 52 Cash Flow Statement 55

Balance Sheet 50 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$80.19M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$47.30M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$49.18M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$28.13M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$411.88M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$426.44M	USD	Point-in-time
Inventories	`InventoryNet`	$118.23M	USD	Point-in-time
Inventories	`InventoryNet`	$90.53M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.52M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.45M	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$4.60M	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$2.12M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$559.17M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$582.92M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$39.40M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$39.60M	USD	Point-in-time
Goodwill	`Goodwill`	$73.60M	USD	Point-in-time
Goodwill	`Goodwill`	$73.60M	USD	Point-in-time
Other intangibles, net	`OtherIntangibleAssetsNet`	$12.59M	USD	Point-in-time
Other intangibles, net	`OtherIntangibleAssetsNet`	$11.76M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$5.45M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.37M	USD	Point-in-time
Total Assets	`Assets`	$686.13M	USD	Point-in-time
Total Assets	`Assets`	$713.33M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$187.34M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$177.86M	USD	Point-in-time
Accrued expenses and other liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$31.05M	USD	Point-in-time
Accrued expenses and other liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$27.36M	USD	Point-in-time
Accrued payroll	`EmployeeRelatedLiabilitiesCurrent`	$21.34M	USD	Point-in-time
Accrued payroll	`EmployeeRelatedLiabilitiesCurrent`	$19.67M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$234.37M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$230.25M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$19.77M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$19.60M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$2.84M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$2.07M	USD	Point-in-time
Total Liabilities	`Liabilities`	$256.20M	USD	Point-in-time
Total Liabilities	`Liabilities`	$252.69M	USD	Point-in-time
Common stock	`CommonStockValue`	$285.00K	USD	Point-in-time
Common stock	`CommonStockValue`	$286.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$113.75M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$111.08M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$337.94M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$358.95M	USD	Point-in-time
Treasury stock, at cost	`TreasuryStockCommonValue`	$15.86M	USD	Point-in-time
Treasury stock, at cost	`TreasuryStockCommonValue`	$15.86M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$433.44M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$457.12M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$713.33M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$686.13M	USD	Point-in-time

Income Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	$749.79M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$676.16M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$1.25B	USD	2 Qtrs
Net sales	`SalesRevenueNet`	$1.42B	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$1.23B	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$582.29M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$650.12M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$1.07B	USD	2 Qtrs
Gross profit	`GrossProfit`	$176.07M	USD	2 Qtrs
Gross profit	`GrossProfit`	$186.40M	USD	2 Qtrs
Gross profit	`GrossProfit`	$93.87M	USD	1 Quarter
Gross profit	`GrossProfit`	$99.67M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$152.51M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$139.89M	USD	2 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$77.23M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$72.86M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$21.01M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$33.89M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$22.44M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$36.17M	USD	2 Qtrs
Interest income (expense)	`InterestIncomeExpenseNet`	$28.00K	USD	2 Qtrs
Interest income (expense)	`InterestIncomeExpenseNet`	$-12.00K	USD	1 Quarter
Interest income (expense)	`InterestIncomeExpenseNet`	$-26.00K	USD	2 Qtrs
Interest income (expense)	`InterestIncomeExpenseNet`	$9.00K	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$36.15M	USD	2 Qtrs
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$33.92M	USD	2 Qtrs
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$21.00M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$22.45M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$14.63M	USD	2 Qtrs
Income tax provision	`IncomeTaxExpenseBenefit`	$12.90M	USD	2 Qtrs
Income tax provision	`IncomeTaxExpenseBenefit`	$8.86M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$8.54M	USD	1 Quarter
Net income	`NetIncomeLoss`	$12.46M	USD	1 Quarter
Net income	`NetIncomeLoss`	$21.52M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$13.59M	USD	1 Quarter
Net income	`NetIncomeLoss`	$21.02M	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$0.47	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.79	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$0.81	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$0.51	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.78	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.51	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.81	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.47	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	26.73M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	26.76M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	26.50M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	26.50M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	26.89M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	26.88M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	26.68M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	26.69M	shares	1 Quarter

Cash Flow Statement 55 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$21.52M	USD	2 Qtrs
Net income	`ProfitLoss`	$21.02M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$2.39M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$4.80M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$5.71M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$2.85M	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$385.00K	USD	2 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$645.00K	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$131.00K	USD	2 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$613.00K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$27.00K	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$164.00K	USD	2 Qtrs
Excess tax benefit from exercise of equity awards	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$32.00K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$15.17M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$10.37M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$27.69M	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$9.56M	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$2.55M	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.19M	USD	2 Qtrs
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$26.00K	USD	2 Qtrs
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$4.08M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$8.93M	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$10.46M	USD	2 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$2.91M	USD	2 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$596.00K	USD	2 Qtrs
Net cash (used for) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$17.00M	USD	2 Qtrs
Net cash (used for) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-9.76M	USD	2 Qtrs
Purchases of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.53M	USD	2 Qtrs
Purchases of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.78M	USD	2 Qtrs
Cash paid for Softmart	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$33.98M	USD	2 Qtrs
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-39.77M	USD	2 Qtrs
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.53M	USD	2 Qtrs
Dividend payment	`PaymentsOfDividends`	$9.04M	USD	2 Qtrs
Dividend payment	`PaymentsOfDividends`	$10.59M	USD	2 Qtrs
Exercise of stock options	`ProceedsFromStockOptionsExercised`	$1.68M	USD	2 Qtrs
Issuance of stock under Employee Stock Purchase Plan	`ProceedsFromStockPlans`	$473.00K	USD	2 Qtrs
Issuance of stock under Employee Stock Purchase Plan	`ProceedsFromStockPlans`	$603.00K	USD	2 Qtrs
Excess tax benefit from exercise of equity awards	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$32.00K	USD	2 Qtrs
Payment of payroll taxes on stock-based compensation through shares withheld	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$40.00K	USD	2 Qtrs
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-10.13M	USD	2 Qtrs
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-6.76M	USD	2 Qtrs
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-21.05M	USD	2 Qtrs
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-32.89M	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$80.19M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$47.30M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$49.18M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$28.13M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$80.19M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$47.30M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$49.18M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$28.13M	USD	Point-in-time
Accrued capital expenditures	`CapitalExpendituresIncurredButNotYetPaid`	$338.00K	USD	2 Qtrs
Accrued capital expenditures	`CapitalExpendituresIncurredButNotYetPaid`	$662.00K	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaid`	$15.66M	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaid`	$15.71M	USD	2 Qtrs

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