10-Q Filing

PC CONNECTION INC CIK: 1050377 Q3 2017

Filing Information

Form Type	10-Q
Accession Number	`0001558370-17-008668`
Period End Date	20170930
Filing Date	20171109
Fiscal Year	2017
Fiscal Period	Q3
XBRL Instance	pccc-20170930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 50 Income Statement 52 Cash Flow Statement 56

Balance Sheet 50 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$62.34M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$66.88M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$49.18M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$80.19M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$411.88M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$382.67M	USD	Point-in-time
Inventories	`InventoryNet`	$90.53M	USD	Point-in-time
Inventories	`InventoryNet`	$106.72M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.45M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.18M	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$4.58M	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$2.12M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$561.49M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$559.17M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$40.08M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$39.40M	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`	$11.39M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.37M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$5.32M	USD	Point-in-time
Total Assets	`Assets`	$691.88M	USD	Point-in-time
Total Assets	`Assets`	$686.13M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$177.86M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$164.88M	USD	Point-in-time
Accrued expenses and other liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$18.29M	USD	Point-in-time
Accrued expenses and other liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$31.05M	USD	Point-in-time
Accrued payroll	`EmployeeRelatedLiabilitiesCurrent`	$21.34M	USD	Point-in-time
Accrued payroll	`EmployeeRelatedLiabilitiesCurrent`	$16.94M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$230.25M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$200.12M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$19.60M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$19.77M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$2.08M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$2.84M	USD	Point-in-time
Total Liabilities	`Liabilities`	$221.96M	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`	$287.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$113.42M	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`	$372.07M	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`	$469.92M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$691.88M	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`	$1.96B	USD	3 Qtrs
Net sales	`SalesRevenueNet`	$708.49M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$729.23M	USD	1 Quarter
Net sales	`SalesRevenueNet`	$2.15B	USD	3 Qtrs
Cost of sales	`CostOfRevenue`	$633.09M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$1.68B	USD	3 Qtrs
Cost of sales	`CostOfRevenue`	$1.87B	USD	3 Qtrs
Cost of sales	`CostOfRevenue`	$611.52M	USD	1 Quarter
Gross profit	`GrossProfit`	$96.14M	USD	1 Quarter
Gross profit	`GrossProfit`	$282.55M	USD	3 Qtrs
Gross profit	`GrossProfit`	$273.03M	USD	3 Qtrs
Gross profit	`GrossProfit`	$96.97M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$74.40M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$226.91M	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$214.41M	USD	3 Qtrs
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$74.52M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$22.45M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$58.62M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$55.63M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$21.74M	USD	1 Quarter
Interest income (expense)	`InterestIncomeExpenseNet`	$20.00K	USD	3 Qtrs
Interest income (expense)	`InterestIncomeExpenseNet`	$-8.00K	USD	1 Quarter
Interest income (expense)	`InterestIncomeExpenseNet`	$-27.00K	USD	1 Quarter
Interest income (expense)	`InterestIncomeExpenseNet`	$-53.00K	USD	3 Qtrs
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$22.42M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$21.73M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$58.57M	USD	3 Qtrs
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$55.65M	USD	3 Qtrs
Income tax provision	`IncomeTaxExpenseBenefit`	$23.45M	USD	3 Qtrs
Income tax provision	`IncomeTaxExpenseBenefit`	$21.52M	USD	3 Qtrs
Income tax provision	`IncomeTaxExpenseBenefit`	$8.61M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$8.82M	USD	1 Quarter
Net income	`NetIncomeLoss`	$13.12M	USD	1 Quarter
Net income	`NetIncomeLoss`	$34.13M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$35.11M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$13.59M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.49	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$1.28	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	$1.32	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	$0.51	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$1.32	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.49	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.51	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$1.27	USD	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	26.54M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	26.80M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	26.51M	shares	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	26.75M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	26.89M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	26.90M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	26.70M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	26.74M	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$35.11M	USD	3 Qtrs
Net income	`ProfitLoss`	$34.13M	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$2.70M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$2.94M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$7.50M	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$8.64M	USD	3 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$560.00K	USD	3 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$975.00K	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$239.00K	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$1.12M	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$165.00K	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$164.00K	USD	3 Qtrs
Excess tax benefit from exercise of equity awards	`ExcessTaxBenefitFromShareBasedCompensationOperatingActivities`	$385.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-19.53M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-28.10M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$16.19M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$-954.00K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-506.00K	USD	3 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$2.19M	USD	3 Qtrs
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$3.94M	USD	3 Qtrs
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$141.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-13.16M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-20.92M	USD	3 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-8.87M	USD	3 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-3.76M	USD	3 Qtrs
Net cash (used for) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$39.78M	USD	3 Qtrs
Net cash (used for) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$28.36M	USD	3 Qtrs
Purchases of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$8.75M	USD	3 Qtrs
Purchases of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.94M	USD	3 Qtrs
Cash paid for Softmart	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$33.98M	USD	3 Qtrs
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.94M	USD	3 Qtrs
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-42.73M	USD	3 Qtrs
Dividend payment	`PaymentsOfDividends`	$9.04M	USD	3 Qtrs
Dividend payment	`PaymentsOfDividends`	$10.59M	USD	3 Qtrs
Exercise of stock options	`ProceedsFromStockOptionsExercised`	$1.68M	USD	3 Qtrs
Issuance of stock under Employee Stock Purchase Plan	`ProceedsFromStockPlans`	$473.00K	USD	3 Qtrs
Issuance of stock under Employee Stock Purchase Plan	`ProceedsFromStockPlans`	$603.00K	USD	3 Qtrs
Excess tax benefit from exercise of equity awards	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$385.00K	USD	3 Qtrs
Payment of payroll taxes on stock-based compensation through shares withheld	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$500.00K	USD	3 Qtrs
Payment of payroll taxes on stock-based compensation through shares withheld	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$625.00K	USD	3 Qtrs
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-7.26M	USD	3 Qtrs
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-10.36M	USD	3 Qtrs
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$13.16M	USD	3 Qtrs
Increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-13.30M	USD	3 Qtrs
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$62.34M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$66.88M	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`	$80.19M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$62.34M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$66.88M	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`	$80.19M	USD	Point-in-time
Accrued capital expenditures	`CapitalExpendituresIncurredButNotYetPaid`	$160.00K	USD	3 Qtrs
Accrued capital expenditures	`CapitalExpendituresIncurredButNotYetPaid`	$294.00K	USD	3 Qtrs
Income taxes paid	`IncomeTaxesPaid`	$23.95M	USD	3 Qtrs
Income taxes paid	`IncomeTaxesPaid`	$24.29M	USD	3 Qtrs

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