10-Q Filing

INSIGHT ENTERPRISES INC CIK: 932696 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001564590-20-022708`
Period End Date	20200331
Filing Date	20200507
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	nsit-10q_20200331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 31 Cash Flow Statement 54 Stockholders Equity 17 Comprehensive Income 6

Balance Sheet 76 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$12.61M	USD	Point-in-time
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$10.76M	USD	Point-in-time
Accumulated depreciation and amortization of property and equipment	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$238.77M	USD	Point-in-time
Accumulated depreciation and amortization of property and equipment	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$236.33M	USD	Point-in-time
Accumulated amortization of intangible assets	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$73.49M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$62.66M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$114.67M	USD	Point-in-time
Accumulated amortization of intangible assets	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$83.19M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $12,610 and $10,762, respectively	`AccountsReceivableNetCurrent`	$2.51B	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
Accounts receivable, net of allowance for doubtful accounts of $12,610 and $10,762, respectively	`AccountsReceivableNetCurrent`	$2.46B	USD	Point-in-time
Inventories	`InventoryNet`	$190.83M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	3.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	3.00M	shares	Point-in-time
Inventories	`InventoryNet`	$236.41M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$202.71M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$231.15M	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
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.05B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$2.97B	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Property and equipment, net of accumulated depreciation and amortization of $238,766 and $236,330, respectively	`PropertyPlantAndEquipmentNet`	$128.69M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Property and equipment, net of accumulated depreciation and amortization of $238,766 and $236,330, respectively	`PropertyPlantAndEquipmentNet`	$130.91M	USD	Point-in-time
Goodwill	`Goodwill`	$415.15M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	35.05M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	35.26M	shares	Point-in-time
Goodwill	`Goodwill`	$413.67M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	35.26M	shares	Point-in-time
Intangible assets, net of accumulated amortization of $83,187 and $73,492, respectively	`FiniteLivedIntangibleAssetsNet`	$271.53M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	35.05M	shares	Point-in-time
Intangible assets, net of accumulated amortization of $83,187 and $73,492, respectively	`FiniteLivedIntangibleAssetsNet`	$278.58M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$305.51M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$276.97M	USD	Point-in-time
Total assets	`Assets`	$4.06B	USD	Point-in-time
Total assets	`Assets`	$4.18B	USD	Point-in-time
Accounts payabletrade	`AccountsPayableTradeCurrent`	$1.28B	USD	Point-in-time
Accounts payabletrade	`AccountsPayableTradeCurrent`	$1.28B	USD	Point-in-time
Accounts payableinventory financing facilities	`AccountsPayableOtherCurrent`	$252.91M	USD	Point-in-time
Accounts payableinventory financing facilities	`AccountsPayableOtherCurrent`	$253.68M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$352.20M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$358.18M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$1.70M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$1.69M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.88B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.90B	USD	Point-in-time
Long-term debt	`LongTermDebtAndCapitalLeaseObligations`	$749.55M	USD	Point-in-time
Long-term debt	`LongTermDebtAndCapitalLeaseObligations`	$857.67M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesGrossNoncurrent`	$44.63M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesGrossNoncurrent`	$44.49M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$232.03M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$215.82M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.91B	USD	Point-in-time
Total liabilities	`Liabilities`	$3.02B	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; 35,049 shares at March 31, 2020 and 35,263 shares at December 31, 2019 issued and outstanding	`CommonStockValue`	$353.00K	USD	Point-in-time
Common stock, $0.01 par value, 100,000 shares authorized; 35,049 shares at March 31, 2020 and 35,263 shares at December 31, 2019 issued and outstanding	`CommonStockValue`	$350.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$351.65M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$357.03M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$854.57M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$841.10M	USD	Point-in-time
Accumulated other comprehensive loss foreign currency translation adjustments	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-55.99M	USD	Point-in-time
Accumulated other comprehensive loss foreign currency translation adjustments	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-38.16M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.03B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.15B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.16B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$986.99M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$4.18B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$4.06B	USD	Point-in-time

Income Statement 31 line items

Line Item	Tag	Value	Unit	Period
Total net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.69B	USD	1 Quarter
Total net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$2.14B	USD	1 Quarter
Total costs of goods sold	`CostOfGoodsAndServicesSold`	$1.44B	USD	1 Quarter
Total costs of goods sold	`CostOfGoodsAndServicesSold`	$1.82B	USD	1 Quarter
Gross profit	`GrossProfit`	$325.34M	USD	1 Quarter
Gross profit	`GrossProfit`	$248.47M	USD	1 Quarter
Selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$268.86M	USD	1 Quarter
Selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$191.06M	USD	1 Quarter
Severance and restructuring expenses, net	`RestructuringCharges`	$370.00K	USD	1 Quarter
Severance and restructuring expenses, net	`RestructuringCharges`	$2.14M	USD	1 Quarter
Acquisition and integration related expenses	`BusinessCombinationAcquisitionRelatedCosts`	$1.47M	USD	1 Quarter
Earnings from operations	`OperatingIncomeLoss`	$52.86M	USD	1 Quarter
Earnings from operations	`OperatingIncomeLoss`	$57.04M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$4.55M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$11.83M	USD	1 Quarter
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	$1.56M	USD	1 Quarter
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	$-1.05M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$51.44M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$42.60M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$8.64M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$12.11M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$39.33M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$33.96M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$1.10	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.96	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.95	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$1.09	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	35.23M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	35.61M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	36.10M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	35.65M	shares	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`ProfitLoss`	$39.33M	USD	1 Quarter
Net earnings	`ProfitLoss`	$33.96M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$8.87M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$17.40M	USD	1 Quarter
Provision for losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$3.14M	USD	1 Quarter
Provision for losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$1.41M	USD	1 Quarter
Non-cash stock-based compensation	`ShareBasedCompensation`	$4.12M	USD	1 Quarter
Non-cash stock-based compensation	`ShareBasedCompensation`	$4.41M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$547.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-509.00K	USD	1 Quarter
Other adjustments	`OtherAdjustments`	$5.26M	USD	1 Quarter
Other adjustments	`OtherAdjustments`	$1.41M	USD	1 Quarter
Decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-22.65M	USD	1 Quarter
Decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-210.69M	USD	1 Quarter
Increase in inventories	`IncreaseDecreaseInInventories`	$39.66M	USD	1 Quarter
Increase in inventories	`IncreaseDecreaseInInventories`	$48.33M	USD	1 Quarter
Decrease (increase) in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-57.24M	USD	1 Quarter
Decrease (increase) in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$107.31M	USD	1 Quarter
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-82.25M	USD	1 Quarter
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$23.28M	USD	1 Quarter
(Decrease) increase in accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$84.76M	USD	1 Quarter
(Decrease) increase in accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-25.36M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$93.13M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$121.91M	USD	1 Quarter
Proceeds from sale of assets held for sale	`ProceedsFromSaleOfPropertyHeldForSale`	$14.22M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.38M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.35M	USD	1 Quarter
Acquisitions, net of cash and cash equivalents acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$762.00K	USD	1 Quarter
Acquisitions, net of cash and cash equivalents acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$6.41M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$430.00K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.11M	USD	1 Quarter
Borrowings on senior revolving credit facility	`ProceedsFromLongTermLinesOfCredit`	$49.94M	USD	1 Quarter
Repayments on senior revolving credit facility	`RepaymentsOfLongTermLinesOfCredit`	$49.94M	USD	1 Quarter
Borrowings on accounts receivable securitization financing facility	`ProceedsFromAccountsReceivableSecuritization`	$1.01B	USD	1 Quarter
Repayments on accounts receivable securitization financing facility	`RepaymentsOfAccountsReceivableSecuritization`	$1.09B	USD	1 Quarter
Net repayments under inventory financing facilities	`ProceedsFromRepaymentsOfOtherDebt`	$-43.97M	USD	1 Quarter
Net repayments under inventory financing facilities	`ProceedsFromRepaymentsOfOtherDebt`	$-764.00K	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$25.00M	USD	1 Quarter
Other payments	`ProceedsFromPaymentsForOtherFinancingActivities`	$-6.67M	USD	1 Quarter
Other payments	`ProceedsFromPaymentsForOtherFinancingActivities`	$-5.76M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-141.77M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-132.64M	USD	1 Quarter
Foreign currency exchange effect on cash, cash equivalents and restricted cash balances	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-986.00K	USD	1 Quarter
Foreign currency exchange effect on cash, cash equivalents and restricted cash balances	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-3.62M	USD	1 Quarter
Decrease in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-51.83M	USD	1 Quarter
Decrease in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-17.83M	USD	1 Quarter
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$64.47M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$126.47M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$116.30M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$144.29M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$126.47M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$116.30M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$64.47M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$144.29M	USD	Point-in-time

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$1.03B	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$1.15B	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$1.16B	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$986.99M	USD	Point-in-time
Issuance of common stock under employee stock plans, net of shares withheld for payroll taxes, Value	`StockIssuedDuringPeriodValueShareBasedCompensation`	$6.13M	USD	1 Quarter
Issuance of common stock under employee stock plans, net of shares withheld for payroll taxes, Value	`StockIssuedDuringPeriodValueShareBasedCompensation`	$5.29M	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$4.41M	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$4.12M	USD	1 Quarter
Repurchase of treasury stock	`TreasuryStockValueAcquiredCostMethod`	$25.00M	USD	1 Quarter
Foreign currency translation adjustments, net of tax	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$1.92M	USD	1 Quarter
Foreign currency translation adjustments, net of tax	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-17.83M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$39.33M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$33.96M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$1.03B	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$1.15B	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$1.16B	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$986.99M	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$39.33M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$33.96M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$1.92M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-17.83M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$41.24M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$16.13M	USD	1 Quarter

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