10-Q Filing

PC CONNECTION INC CIK: 1050377 Q3 2018

Filing Information

Form Type	10-Q
Accession Number	`0001558370-18-008260`
Period End Date	20180930
Filing Date	20181101
Fiscal Year	2018
Fiscal Period	Q3
XBRL Instance	pccc-20180930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 51 Income Statement 54 Cash Flow Statement 57 Stockholders Equity 22

Balance Sheet 51 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$102.24M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$49.99M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$400.83M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$449.68M	USD	Point-in-time
Inventories, net	`InventoryNet`	$106.75M	USD	Point-in-time
Inventories, net	`InventoryNet`	$105.28M	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$3.93M	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$2.66M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.74M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$6.07M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$616.10M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$617.08M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$41.49M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$48.18M	USD	Point-in-time
Goodwill	`Goodwill`	$73.60M	USD	Point-in-time
Goodwill	`Goodwill`	$73.60M	USD	Point-in-time
Intangibles assets, net	`IntangibleAssetsNetExcludingGoodwill`	$9.92M	USD	Point-in-time
Intangibles assets, net	`IntangibleAssetsNetExcludingGoodwill`	$11.03M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$5.64M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.44M	USD	Point-in-time
Total Assets	`Assets`	$747.85M	USD	Point-in-time
Total Assets	`Assets`	$750.23M	USD	Point-in-time
Total Assets	`Assets`	$691.88M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$194.26M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$165.19M	USD	Point-in-time
Accrued payroll	`EmployeeRelatedLiabilitiesCurrent`	$22.66M	USD	Point-in-time
Accrued payroll	`EmployeeRelatedLiabilitiesCurrent`	$20.36M	USD	Point-in-time
Accrued expenses and other liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$23.48M	USD	Point-in-time
Accrued expenses and other liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$31.10M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$209.02M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$248.01M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$16.12M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$15.70M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$1.89M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$1.84M	USD	Point-in-time
Total Liabilities	`Liabilities`	$265.60M	USD	Point-in-time
Total Liabilities	`Liabilities`	$226.99M	USD	Point-in-time
Common stock	`CommonStockValue`	$287.00K	USD	Point-in-time
Common stock	`CommonStockValue`	$287.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$114.15M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$115.04M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$383.67M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$428.16M	USD	Point-in-time
Treasury stock, at cost	`TreasuryStockCommonValue`	$15.86M	USD	Point-in-time
Treasury stock, at cost	`TreasuryStockCommonValue`	$20.25M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$491.96M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$509.66M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$482.25M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$523.24M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$750.23M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$747.85M	USD	Point-in-time

Income Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$729.23M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.99B	USD	3 Qtrs
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$2.15B	USD	3 Qtrs
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$658.50M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$1.87B	USD	3 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$633.09M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$558.06M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$1.69B	USD	3 Qtrs
Gross profit	`GrossProfit`	$100.44M	USD	1 Quarter
Gross profit	`GrossProfit`	$304.28M	USD	3 Qtrs
Gross profit	`GrossProfit`	$282.55M	USD	3 Qtrs
Gross profit	`GrossProfit`	$96.14M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$81.49M	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`	$244.91M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$18.95M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$59.37M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$21.74M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$55.63M	USD	3 Qtrs
Interest income (expense)	`InterestIncomeExpenseNet`	$-8.00K	USD	1 Quarter
Interest income (expense)	`InterestIncomeExpenseNet`	$114.00K	USD	1 Quarter
Interest income (expense)	`InterestIncomeExpenseNet`	$20.00K	USD	3 Qtrs
Interest income (expense)	`InterestIncomeExpenseNet`	$412.00K	USD	3 Qtrs
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$21.73M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$55.65M	USD	3 Qtrs
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$19.06M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$59.78M	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`	$16.49M	USD	3 Qtrs
Income tax provision	`IncomeTaxExpenseBenefit`	$5.30M	USD	1 Quarter
Net income	`NetIncomeLoss`	$34.13M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$43.29M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$13.12M	USD	1 Quarter
Net income	`NetIncomeLoss`	$11.30M	USD	1 Quarter
Net income	`NetIncomeLoss`	$18.23M	USD	1 Quarter
Net income	`NetIncomeLoss`	$13.77M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$1.28	USD	3 Qtrs
Basic	`EarningsPerShareBasic`	$0.52	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.49	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$1.62	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.49	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$1.27	USD	3 Qtrs
Diluted	`EarningsPerShareDiluted`	$0.51	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$1.61	USD	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	26.75M	shares	3 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	26.72M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	26.80M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	26.75M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	26.89M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	26.90M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	26.88M	shares	3 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	26.90M	shares	1 Quarter

Cash Flow Statement 57 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$34.13M	USD	3 Qtrs
Net income	`ProfitLoss`	$43.29M	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$8.64M	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$3.63M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$2.94M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$10.36M	USD	3 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$1.43M	USD	3 Qtrs
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$1.12M	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$560.00K	USD	3 Qtrs
Stock-based compensation expense	`ShareBasedCompensation`	$737.00K	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$164.00K	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$429.00K	USD	3 Qtrs
Loss on disposal of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-51.00K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-28.10M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-63.88M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$16.19M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$9.40M	USD	3 Qtrs
Prepaid expenses, income tax receivables and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-812.00K	USD	3 Qtrs
Prepaid expenses, income tax receivables and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$2.19M	USD	3 Qtrs
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-283.00K	USD	3 Qtrs
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$3.94M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-29.36M	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-13.16M	USD	3 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-1.26M	USD	3 Qtrs
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-8.87M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$81.25M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$28.36M	USD	3 Qtrs
Purchases of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.94M	USD	3 Qtrs
Purchases of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$15.64M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-15.64M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.94M	USD	3 Qtrs
Proceeds from short-term borrowings	`ProceedsFromLinesOfCredit`	$859.00K	USD	3 Qtrs
Repayment of short-term borrowings	`RepaymentsOfLinesOfCredit`	$859.00K	USD	3 Qtrs
Purchase of treasury shares	`PaymentsForRepurchaseOfCommonStock`	$4.38M	USD	3 Qtrs
Dividend payment	`PaymentsOfDividends`	$9.04M	USD	3 Qtrs
Dividend payment	`PaymentsOfDividends`	$9.12M	USD	3 Qtrs
Exercise of stock options	`ProceedsFromStockOptionsExercised`	$1.68M	USD	3 Qtrs
Issuance of stock under Employee Stock Purchase Plan	`ProceedsFromStockPlans`	$603.00K	USD	3 Qtrs
Issuance of stock under Employee Stock Purchase Plan	`ProceedsFromStockPlans`	$605.00K	USD	3 Qtrs
Payment of payroll taxes on stock-based compensation through shares withheld	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$457.00K	USD	3 Qtrs
Payment of payroll taxes on stock-based compensation through shares withheld	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$500.00K	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-7.26M	USD	3 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-13.36M	USD	3 Qtrs
Increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$52.25M	USD	3 Qtrs
Increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$13.16M	USD	3 Qtrs
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$49.18M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$102.24M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$62.34M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$49.99M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$49.18M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$102.24M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$62.34M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$49.99M	USD	Point-in-time
Accrued capital expenditures	`CapitalExpendituresIncurredButNotYetPaid`	$294.00K	USD	3 Qtrs
Accrued capital expenditures	`CapitalExpendituresIncurredButNotYetPaid`	$1.05M	USD	3 Qtrs
Income taxes paid	`IncomeTaxesPaid`	$24.29M	USD	3 Qtrs
Income taxes paid	`IncomeTaxesPaid`	$15.13M	USD	3 Qtrs

Stockholders Equity 22 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$491.96M	USD	Point-in-time
Balance	`StockholdersEquity`	$509.66M	USD	Point-in-time
Balance	`StockholdersEquity`	$482.25M	USD	Point-in-time
Balance	`StockholdersEquity`	$523.24M	USD	Point-in-time
Cumulative effect of adoption of ASC 606	`CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption`	$1.20M	USD	Point-in-time
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$273.00K	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$257.00K	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$207.00K	USD	1 Quarter
Repurchases of treasury shares	`TreasuryStockValueAcquiredCostMethod`	$1.39M	USD	1 Quarter
Repurchases of treasury shares	`TreasuryStockValueAcquiredCostMethod`	$3.00M	USD	1 Quarter
Issuance of common stock under Employee Stock Purchase Plan	`StockIssuedDuringPeriodValueEmployeeStockPurchasePlan`	$605.00K	USD	1 Quarter
Shares withheld for taxes paid on stock awards	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$457.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$34.13M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$43.29M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$13.12M	USD	1 Quarter
Net income	`NetIncomeLoss`	$11.30M	USD	1 Quarter
Net income	`NetIncomeLoss`	$18.23M	USD	1 Quarter
Net income	`NetIncomeLoss`	$13.77M	USD	1 Quarter
Balance	`StockholdersEquity`	$491.96M	USD	Point-in-time
Balance	`StockholdersEquity`	$509.66M	USD	Point-in-time
Balance	`StockholdersEquity`	$482.25M	USD	Point-in-time
Balance	`StockholdersEquity`	$523.24M	USD	Point-in-time

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