10-Q Filing

INSIGHT ENTERPRISES INC CIK: 932696 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001564590-21-024795`
Period End Date	20210331
Filing Date	20210506
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	nsit-10q_20210331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 31 Cash Flow Statement 52 Stockholders Equity 17 Comprehensive Income 6

Balance Sheet 76 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$15.66M	USD	Point-in-time
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$15.11M	USD	Point-in-time
Accumulated depreciation and amortization of property and equipment	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$256.06M	USD	Point-in-time
Accumulated depreciation and amortization of property and equipment	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$254.75M	USD	Point-in-time
Accumulated amortization of intangible assets	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$111.25M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$138.75M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$128.31M	USD	Point-in-time
Accumulated amortization of intangible assets	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$103.48M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $15,664 and $15,106, respectively	`AccountsReceivableNetCurrent`	$2.58B	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $15,664 and $15,106, respectively	`AccountsReceivableNetCurrent`	$2.69B	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	3.00M	shares	Point-in-time
Inventories	`InventoryNet`	$253.30M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	3.00M	shares	Point-in-time
Inventories	`InventoryNet`	$185.65M	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
Other current assets	`OtherAssetsCurrent`	$177.93M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$177.04M	USD	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`	$3.15B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.18B	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 $254,747 and $256,065, respectively	`PropertyPlantAndEquipmentNet`	$148.53M	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 $254,747 and $256,065, respectively	`PropertyPlantAndEquipmentNet`	$146.02M	USD	Point-in-time
Goodwill	`Goodwill`	$429.76M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	35.10M	shares	Point-in-time
Goodwill	`Goodwill`	$429.37M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	35.32M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	35.32M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	35.10M	shares	Point-in-time
Intangible assets, net of accumulated amortization of $111,245 and $103,483, respectively	`FiniteLivedIntangibleAssetsNet`	$246.91M	USD	Point-in-time
Intangible assets, net of accumulated amortization of $111,245 and $103,483, respectively	`FiniteLivedIntangibleAssetsNet`	$239.83M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$311.98M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$282.79M	USD	Point-in-time
Total assets	`Assets`	$4.25B	USD	Point-in-time
Total assets	`Assets`	$4.31B	USD	Point-in-time
Accounts payabletrade	`AccountsPayableTradeCurrent`	$1.46B	USD	Point-in-time
Accounts payabletrade	`AccountsPayableTradeCurrent`	$1.46B	USD	Point-in-time
Accounts payableinventory financing facilities	`AccountsPayableOtherCurrent`	$356.93M	USD	Point-in-time
Accounts payableinventory financing facilities	`AccountsPayableOtherCurrent`	$309.07M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$405.00M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$408.12M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$830.00K	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$1.10M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.23B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.18B	USD	Point-in-time
Long-term debt	`LongTermDebtAndCapitalLeaseObligations`	$437.58M	USD	Point-in-time
Long-term debt	`LongTermDebtAndCapitalLeaseObligations`	$416.40M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$33.21M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$33.96M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$246.00M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$270.05M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.97B	USD	Point-in-time
Total liabilities	`Liabilities`	$2.87B	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; 35,320 shares at March 31, 2021 and 35,103 shares at December 31, 2020 issued and outstanding	`CommonStockValue`	$351.00K	USD	Point-in-time
Common stock, $0.01 par value, 100,000 shares authorized; 35,320 shares at March 31, 2021 and 35,103 shares at December 31, 2020 issued and outstanding	`CommonStockValue`	$353.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$364.29M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$361.94M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$993.25M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.04B	USD	Point-in-time
Accumulated other comprehensive loss foreign currency translation adjustments	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-15.54M	USD	Point-in-time
Accumulated other comprehensive loss foreign currency translation adjustments	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-15.46M	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`	$1.34B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.38B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$4.25B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$4.31B	USD	Point-in-time

Income Statement 31 line items

Line Item	Tag	Value	Unit	Period
Total net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$2.19B	USD	1 Quarter
Total net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$2.14B	USD	1 Quarter
Total costs of goods sold	`CostOfGoodsAndServicesSold`	$1.82B	USD	1 Quarter
Total costs of goods sold	`CostOfGoodsAndServicesSold`	$1.86B	USD	1 Quarter
Gross profit	`GrossProfit`	$331.47M	USD	1 Quarter
Gross profit	`GrossProfit`	$325.34M	USD	1 Quarter
Selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$268.86M	USD	1 Quarter
Selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$271.19M	USD	1 Quarter
Severance and restructuring expenses, net	`RestructuringCharges`	$2.14M	USD	1 Quarter
Severance and restructuring expenses, net	`RestructuringCharges`	$-6.74M	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`	$67.02M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$9.97M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$11.83M	USD	1 Quarter
Other expense (income), net	`OtherNonoperatingIncomeExpense`	$1.56M	USD	1 Quarter
Other expense (income), net	`OtherNonoperatingIncomeExpense`	$-388.00K	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$56.67M	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`	$13.50M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$43.17M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$33.96M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$1.23	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.96	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$1.18	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.95	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	35.23M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	35.20M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	35.65M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	36.70M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`ProfitLoss`	$43.17M	USD	1 Quarter
Net earnings	`ProfitLoss`	$33.96M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$17.40M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$14.22M	USD	1 Quarter
Provision for losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$2.18M	USD	1 Quarter
Provision for losses on accounts receivable	`ProvisionForDoubtfulAccounts`	$3.14M	USD	1 Quarter
Non-cash stock-based compensation	`ShareBasedCompensation`	$4.72M	USD	1 Quarter
Non-cash stock-based compensation	`ShareBasedCompensation`	$4.41M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-509.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$643.00K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$3.96M	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$4.17M	USD	1 Quarter
Other adjustments	`OtherAdjustments`	$1.30M	USD	1 Quarter
Other adjustments	`OtherAdjustments`	$-7.62M	USD	1 Quarter
Decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-93.48M	USD	1 Quarter
Decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-22.65M	USD	1 Quarter
Increase in inventories	`IncreaseDecreaseInInventories`	$48.33M	USD	1 Quarter
Increase in inventories	`IncreaseDecreaseInInventories`	$67.95M	USD	1 Quarter
Decrease in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-57.24M	USD	1 Quarter
Decrease in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-16.76M	USD	1 Quarter
(Decrease) increase in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-25.32M	USD	1 Quarter
(Decrease) increase in accounts payable	`IncreaseDecreaseInAccountsPayable`	$23.28M	USD	1 Quarter
Decrease in accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-25.36M	USD	1 Quarter
Decrease in accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-35.76M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$42.71M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$93.13M	USD	1 Quarter
Proceeds from sale of assets held for sale	`ProceedsFromSaleOfPropertyHeldForSale`	$27.21M	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`	$7.85M	USD	1 Quarter
Acquisitions, net of cash and cash equivalents acquired	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$6.41M	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$19.36M	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$430.00K	USD	1 Quarter
Net repayments under inventory financing facilities	`ProceedsFromRepaymentsOfOtherDebt`	$-17.78M	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`	$-7.49M	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`	$-49.27M	USD	1 Quarter
Foreign currency exchange effect on cash, cash equivalents and restricted cash balances	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-3.62M	USD	1 Quarter
Foreign currency exchange effect on cash, cash equivalents and restricted cash balances	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-2.44M	USD	1 Quarter
Increase (decrease) in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-51.83M	USD	1 Quarter
Increase (decrease) in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$10.36M	USD	1 Quarter
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$130.58M	USD	Point-in-time
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`	$140.94M	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 end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$64.47M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$140.94M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$130.58M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$116.30M	USD	Point-in-time

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$1.15B	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$1.16B	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$1.34B	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$1.38B	USD	Point-in-time
Issuance of common stock under employee stock plans, net of shares withheld for payroll taxes, Value	`StockIssuedDuringPeriodValueShareBasedCompensation`	$5.29M	USD	1 Quarter
Issuance of common stock under employee stock plans, net of shares withheld for payroll taxes, Value	`StockIssuedDuringPeriodValueShareBasedCompensation`	$7.07M	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$4.41M	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$4.72M	USD	1 Quarter
Repurchase of treasury stock, Amount	`TreasuryStockValueAcquiredCostMethod`	$25.00M	USD	1 Quarter
Foreign currency translation adjustments, net of tax	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-80.00K	USD	1 Quarter
Foreign currency translation adjustments, net of tax	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-17.83M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$43.17M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$33.96M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$1.15B	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$1.16B	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$1.34B	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$1.38B	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$43.17M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$33.96M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-80.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-17.83M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$43.09M	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.