10-Q Filing

PC CONNECTION INC CIK: 1050377 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001558370-20-004793`
Period End Date	20200331
Filing Date	20200430
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	cnxn-20200331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 55 Income Statement 27 Cash Flow Statement 48 Stockholders Equity 17

Balance Sheet 55 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$90.06M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$111.32M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$549.63M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$485.32M	USD	Point-in-time
Inventories, net	`InventoryNet`	$136.99M	USD	Point-in-time
Inventories, net	`InventoryNet`	$124.67M	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$1.39M	USD	Point-in-time
Income taxes receivable	`IncomeTaxesReceivable`	$1.39M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$13.97M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$10.67M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$748.98M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$776.41M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$64.23M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$65.75M	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$13.84M	USD	Point-in-time
Right-of-use assets	`OperatingLeaseRightOfUseAsset`	$15.78M	USD	Point-in-time
Goodwill	`Goodwill`	$73.60M	USD	Point-in-time
Goodwill	`Goodwill`	$73.60M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$8.31M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$8.00M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$947.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.07M	USD	Point-in-time
Total Assets	`Assets`	$937.34M	USD	Point-in-time
Total Assets	`Assets`	$828.45M	USD	Point-in-time
Total Assets	`Assets`	$913.19M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$235.64M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$219.92M	USD	Point-in-time
Accrued payroll	`EmployeeRelatedLiabilitiesCurrent`	$20.48M	USD	Point-in-time
Accrued payroll	`EmployeeRelatedLiabilitiesCurrent`	$28.05M	USD	Point-in-time
Accrued expenses and other liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$45.23M	USD	Point-in-time
Accrued expenses and other liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$36.91M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$277.31M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$308.92M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$20.17M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$20.17M	USD	Point-in-time
Noncurrent operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$10.33M	USD	Point-in-time
Noncurrent operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$12.55M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$600.00K	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$600.00K	USD	Point-in-time
Total Liabilities	`Liabilities`	$310.63M	USD	Point-in-time
Total Liabilities	`Liabilities`	$340.02M	USD	Point-in-time
Common stock	`CommonStockValue`	$289.00K	USD	Point-in-time
Common stock	`CommonStockValue`	$288.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$118.62M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$118.05M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$514.69M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$529.59M	USD	Point-in-time
Treasury stock, at cost	`TreasuryStockCommonValue`	$35.72M	USD	Point-in-time
Treasury stock, at cost	`TreasuryStockCommonValue`	$45.94M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$537.59M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$597.31M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$602.56M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$525.90M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$913.19M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$937.34M	USD	Point-in-time

Income Statement 27 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$632.92M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$711.85M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$598.73M	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$533.57M	USD	1 Quarter
Gross profit	`GrossProfit`	$99.35M	USD	1 Quarter
Gross profit	`GrossProfit`	$113.12M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$92.47M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$81.23M	USD	1 Quarter
Restructuring and other charges	`RestructuringAndOtherCharges`	$703.00K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$20.65M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$17.41M	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNonoperatingNet`	$92.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNonoperatingNet`	$198.00K	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$20.74M	USD	1 Quarter
Income before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$17.61M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$4.88M	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$5.85M	USD	1 Quarter
Net income	`NetIncomeLoss`	$14.90M	USD	1 Quarter
Net income	`NetIncomeLoss`	$12.73M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.57	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.48	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.48	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.56	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	26.24M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	26.36M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	26.42M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	26.52M	shares	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$12.73M	USD	1 Quarter
Net income	`ProfitLoss`	$14.90M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$3.71M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$3.15M	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$256.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$2.83M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$269.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$624.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-61.48M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-13.49M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$18.47M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$12.32M	USD	1 Quarter
Prepaid expenses, income tax receivables and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$3.30M	USD	1 Quarter
Prepaid expenses, income tax receivables and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-3.32M	USD	1 Quarter
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$98.00K	USD	1 Quarter
Other non-current assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$-119.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-15.50M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$2.12M	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-7.21M	USD	1 Quarter
Accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$551.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$44.56M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$18.10M	USD	1 Quarter
Purchases of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.59M	USD	1 Quarter
Purchases of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.57M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.57M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.59M	USD	1 Quarter
Purchase of treasury shares	`PaymentsForRepurchaseOfCommonStock`	$1.29M	USD	1 Quarter
Purchase of treasury shares	`PaymentsForRepurchaseOfCommonStock`	$10.22M	USD	1 Quarter
Dividend payment	`PaymentsOfDividends`	$8.43M	USD	1 Quarter
Dividend payment	`PaymentsOfDividends`	$8.45M	USD	1 Quarter
Issuance of stock under Employee Stock Purchase Plan	`AdjustmentsToEmployeeStockPurchasePlan`	$-13.00K	USD	1 Quarter
Payment of payroll taxes on stock-based compensation through shares withheld	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$49.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-18.70M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-9.76M	USD	1 Quarter
Increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.77M	USD	1 Quarter
Increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$21.26M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$111.32M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$91.70M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$90.06M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$93.47M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$111.32M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$91.70M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$90.06M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$93.47M	USD	Point-in-time
Accrued capital expenditures	`CapitalExpendituresIncurredButNotYetPaid`	$1.24M	USD	1 Quarter
Accrued capital expenditures	`CapitalExpendituresIncurredButNotYetPaid`	$1.99M	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	$369.00K	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	$291.00K	USD	1 Quarter

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$537.59M	USD	Point-in-time
Balance	`StockholdersEquity`	$597.31M	USD	Point-in-time
Balance	`StockholdersEquity`	$602.56M	USD	Point-in-time
Balance	`StockholdersEquity`	$525.90M	USD	Point-in-time
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$269.00K	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$624.00K	USD	1 Quarter
Restricted stock units vested	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	$1.00K	USD	1 Quarter
Issuance of common stock under Employee Stock Purchase Plan	`AdjustmentsToAdditionalPaidInCapitalEmployeeStockPurchaseProgramAdjustments`	$-13.00K	USD	1 Quarter
Shares withheld for taxes paid on stock awards	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$49.00K	USD	1 Quarter
Repurchase of common stock for treasury	`TreasuryStockValueAcquiredCostMethod`	$1.29M	USD	1 Quarter
Repurchase of common stock for treasury	`TreasuryStockValueAcquiredCostMethod`	$10.22M	USD	1 Quarter
Net income	`NetIncomeLoss`	$14.90M	USD	1 Quarter
Net income	`NetIncomeLoss`	$12.73M	USD	1 Quarter
Balance	`StockholdersEquity`	$537.59M	USD	Point-in-time
Balance	`StockholdersEquity`	$597.31M	USD	Point-in-time
Balance	`StockholdersEquity`	$602.56M	USD	Point-in-time
Balance	`StockholdersEquity`	$525.90M	USD	Point-in-time

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