10-Q Filing

INSIGHT ENTERPRISES INC CIK: 932696 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001628280-22-012508`
Period End Date	20220331
Filing Date	20220505
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	nsit-20220331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 30 Cash Flow Statement 50 Stockholders Equity 16 Comprehensive Income 6

Balance Sheet 76 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$16.94M	USD	Point-in-time
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$16.76M	USD	Point-in-time
Accumulated depreciation and amortization of property and equipment	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$231.33M	USD	Point-in-time
Accumulated depreciation and amortization of property and equipment	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$233.79M	USD	Point-in-time
Accumulated amortization of intangible assets	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$118.91M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$103.84M	USD	Point-in-time
Accumulated amortization of intangible assets	`FiniteLivedIntangibleAssetsAccumulatedAmortization`	$110.91M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$114.76M	USD	Point-in-time
Preferred stock, par value ( in usd per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value ( in usd per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $16,760 and $16,941, respectively	`AccountsReceivableNetCurrent`	$2.94B	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $16,760 and $16,941, respectively	`AccountsReceivableNetCurrent`	$3.03B	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	3.00M	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	3.00M	shares	Point-in-time
Inventories	`InventoryNet`	$328.10M	USD	Point-in-time
Inventories	`InventoryNet`	$383.40M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$199.64M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$244.38M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.77B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$3.57B	USD	Point-in-time
Common stock, par value (in usd per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (in usd per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Property and equipment, net of accumulated depreciation and amortization of $231,333 and $233,786, respectively	`PropertyPlantAndEquipmentNet`	$189.72M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Property and equipment, net of accumulated depreciation and amortization of $231,333 and $233,786, respectively	`PropertyPlantAndEquipmentNet`	$176.26M	USD	Point-in-time
Goodwill	`Goodwill`	$429.21M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	35.07M	shares	Point-in-time
Goodwill	`Goodwill`	$428.35M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	34.90M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	35.07M	shares	Point-in-time
Intangible assets, net of accumulated amortization of $118,905 and $110,909, respectively	`FiniteLivedIntangibleAssetsNet`	$214.79M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	34.90M	shares	Point-in-time
Intangible assets, net of accumulated amortization of $118,905 and $110,909, respectively	`FiniteLivedIntangibleAssetsNet`	$207.12M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$255.49M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$301.37M	USD	Point-in-time
Total assets	`Assets`	$4.69B	USD	Point-in-time
Total assets	`Assets`	$4.85B	USD	Point-in-time
Accounts payabletrade	`AccountsPayableTradeCurrent`	$1.78B	USD	Point-in-time
Accounts payabletrade	`AccountsPayableTradeCurrent`	$1.62B	USD	Point-in-time
Accounts payableinventory financing facilities	`AccountsPayableOtherCurrent`	$318.43M	USD	Point-in-time
Accounts payableinventory financing facilities	`AccountsPayableOtherCurrent`	$311.88M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$423.49M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$390.70M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$36.00K	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$344.90M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.68B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.52B	USD	Point-in-time
Long-term debt	`LongTermDebtAndCapitalLeaseObligations`	$361.57M	USD	Point-in-time
Long-term debt	`LongTermDebtAndCapitalLeaseObligations`	$373.02M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$36.63M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$47.07M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$223.26M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$255.95M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.18B	USD	Point-in-time
Total liabilities	`Liabilities`	$3.31B	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; 35,072 shares at March 31, 2022 and 34,897 shares at December 31, 2021 issued and outstanding	`CommonStockValue`	$351.00K	USD	Point-in-time
Common stock, $0.01 par value, 100,000 shares authorized; 35,072 shares at March 31, 2022 and 34,897 shares at December 31, 2021 issued and outstanding	`CommonStockValue`	$349.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$368.28M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$321.96M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.24B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.17B	USD	Point-in-time
Accumulated other comprehensive loss foreign currency translation adjustments	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-25.23M	USD	Point-in-time
Accumulated other comprehensive loss foreign currency translation adjustments	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-27.09M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.34B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.54B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.38B	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.51B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$4.69B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$4.85B	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Total net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$2.19B	USD	1 Quarter
Total net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$2.65B	USD	1 Quarter
Total costs of goods sold	`CostOfGoodsAndServicesSold`	$1.86B	USD	1 Quarter
Total costs of goods sold	`CostOfGoodsAndServicesSold`	$2.27B	USD	1 Quarter
Gross profit	`GrossProfit`	$331.47M	USD	1 Quarter
Gross profit	`GrossProfit`	$378.86M	USD	1 Quarter
Selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$297.64M	USD	1 Quarter
Selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$271.19M	USD	1 Quarter
Severance and restructuring expenses, net	`RestructuringCharges`	$-6.74M	USD	1 Quarter
Severance and restructuring expenses, net	`RestructuringCharges`	$1.37M	USD	1 Quarter
Earnings from operations	`OperatingIncomeLoss`	$79.85M	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`	$8.07M	USD	1 Quarter
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	$-388.00K	USD	1 Quarter
Other (income) expense, net	`OtherNonoperatingIncomeExpense`	$2.84M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$74.62M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$56.67M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$17.99M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$13.50M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$56.63M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$43.17M	USD	1 Quarter
Basic (in usd per share)	`EarningsPerShareBasic`	$1.23	USD	1 Quarter
Basic (in usd per share)	`EarningsPerShareBasic`	$1.62	USD	1 Quarter
Diluted (in usd per share)	`EarningsPerShareDiluted`	$1.18	USD	1 Quarter
Diluted (in usd per share)	`EarningsPerShareDiluted`	$1.53	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	34.97M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	35.20M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	36.98M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	36.70M	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`ProfitLoss`	$43.17M	USD	1 Quarter
Net earnings	`ProfitLoss`	$56.63M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$13.31M	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`	$1.03M	USD	1 Quarter
Non-cash stock-based compensation	`ShareBasedCompensation`	$4.72M	USD	1 Quarter
Non-cash stock-based compensation	`ShareBasedCompensation`	$5.01M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.72M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$643.00K	USD	1 Quarter
Amortization of debt discount and issuance costs	`AmortizationOfFinancingCostsAndDiscounts`	$4.17M	USD	1 Quarter
Amortization of debt discount and issuance costs	`AmortizationOfFinancingCostsAndDiscounts`	$1.62M	USD	1 Quarter
Other adjustments	`OtherAdjustments`	$-106.00K	USD	1 Quarter
Other adjustments	`OtherAdjustments`	$-7.62M	USD	1 Quarter
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-93.48M	USD	1 Quarter
(Increase) decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$103.33M	USD	1 Quarter
Increase in inventories	`IncreaseDecreaseInInventories`	$67.95M	USD	1 Quarter
Increase in inventories	`IncreaseDecreaseInInventories`	$57.88M	USD	1 Quarter
Decrease in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-4.11M	USD	1 Quarter
Decrease in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-16.76M	USD	1 Quarter
Decrease in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-137.14M	USD	1 Quarter
Decrease in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-25.32M	USD	1 Quarter
Decrease in accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-65.79M	USD	1 Quarter
Decrease in accrued expenses and other liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-35.76M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-284.24M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$42.71M	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$27.21M	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromSaleOfPropertyPlantAndEquipment`	-	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.85M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$25.75M	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-25.75M	USD	1 Quarter
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$19.36M	USD	1 Quarter
Net borrowings (repayments) under inventory financing facilities	`ProceedsFromRepaymentsOfOtherDebt`	$6.69M	USD	1 Quarter
Net borrowings (repayments) under inventory financing facilities	`ProceedsFromRepaymentsOfOtherDebt`	$-17.78M	USD	1 Quarter
Other payments	`ProceedsFromPaymentsForOtherFinancingActivities`	$-6.74M	USD	1 Quarter
Other payments	`ProceedsFromPaymentsForOtherFinancingActivities`	$-7.49M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$319.95M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-49.27M	USD	1 Quarter
Foreign currency exchange effect on cash, cash equivalents and restricted cash balances	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$969.00K	USD	1 Quarter
Foreign currency exchange effect on cash, cash equivalents and restricted cash balances	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-2.44M	USD	1 Quarter
Increase in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$10.36M	USD	1 Quarter
Increase in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$10.94M	USD	1 Quarter
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`	$116.92M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$105.98M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$130.58M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$105.98M	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`	$116.92M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$130.58M	USD	Point-in-time

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$1.34B	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$1.54B	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$1.38B	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$1.51B	USD	Point-in-time
Issuance of common stock under employee stock plans, net of shares withheld for payroll taxes	`StockIssuedDuringPeriodValueShareBasedCompensation`	$-7.07M	USD	1 Quarter
Issuance of common stock under employee stock plans, net of shares withheld for payroll taxes	`StockIssuedDuringPeriodValueShareBasedCompensation`	$-6.60M	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$5.01M	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$4.72M	USD	1 Quarter
Foreign currency translation adjustments, net of tax	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-80.00K	USD	1 Quarter
Foreign currency translation adjustments, net of tax	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$1.86M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$56.63M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$43.17M	USD	1 Quarter
Ending balance	`StockholdersEquity`	$1.34B	USD	Point-in-time
Ending balance	`StockholdersEquity`	$1.54B	USD	Point-in-time
Ending balance	`StockholdersEquity`	$1.38B	USD	Point-in-time
Ending balance	`StockholdersEquity`	$1.51B	USD	Point-in-time

Comprehensive Income 6 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`NetIncomeLoss`	$56.63M	USD	1 Quarter
Net earnings	`NetIncomeLoss`	$43.17M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-80.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$1.86M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$43.09M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTax`	$58.50M	USD	1 Quarter

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