Segment Information

12 Months Ended

Jan. 31, 2020

Segment Reporting Information, Additional Information [Abstract]

NOTE 16 — SEGMENT INFORMATION

Tech Data operates predominately in a single industry segment as a distributor of technology products, logistics management, and other value-added services. While the Company operates primarily in one industry, it is managed based on geographic segments. The Company manages its operations in three geographic segments: the Americas, Europe and Asia-Pacific.

The Company does not consider stock-based compensation expense in assessing the performance of its operating segments, and therefore the Company excludes stock-based compensation expense from segment information. The accounting policies of the segments are the same as those described in Note 1 – Business and Summary of Significant Accounting Policies.

Financial information by geographic segment is as follows (in thousands):



Year ended January 31:	2020			2019			2018
Net sales:
Americas ⁽¹⁾	$	16,600,023		$	16,041,103		$	14,419,221
Europe	19,132,040			20,026,057			18,147,917
Asia-Pacific	1,266,358			1,171,790			1,030,703
Total	$	36,998,421		$	37,238,950		$	33,597,841

Operating income (loss):
Americas ⁽²⁾ ⁽³⁾	$	333,233		$	366,637		$	248,350
Europe⁽⁴⁾	272,498			195,375			173,611
Asia-Pacific⁽⁵⁾	8,785			(36,697		)	17,499
Stock-based compensation expense	(32,187		)	(31,513		)	(29,381		)
Total	$	582,329		$	493,802		$	410,079

Depreciation and amortization:
Americas	$	98,151		$	93,612		$	84,265
Europe	47,217			56,533			57,794
Asia-Pacific	7,731			8,852			7,987
Total	$	153,099		$	158,997		$	150,046

Capital expenditures:
Americas	$	50,953		$	37,141		$	207,399
Europe	30,895			20,818			21,471
Asia-Pacific	2,974			3,455			3,067
Total	$	84,822		$	61,414		$	231,937



As of January 31:	2020		2019
Identifiable assets:
Americas	$	6,147,771	$	5,402,316
Europe	6,518,761		6,970,822
Asia-Pacific	602,077		613,414
Total	$	13,268,609	$	12,986,552

Long-lived assets:
Americas ⁽¹⁾	$	231,401	$	217,863
Europe	51,331		52,162
Asia-Pacific	4,418		4,892
Total	$	287,150	$	274,917

Goodwill & acquisition-related intangible assets, net:
Americas	$	1,339,375	$	1,083,699
Europe	541,102		575,776
Asia-Pacific	54,090		60,154
Total	$	1,934,567	$	1,719,629


(1)	Net sales in the U.S. represented 90%, 90% and 89% of the total Americas' net sales for the fiscal years ended January 31, 2020, 2019 and 2018, respectively. Total long-lived assets in the U.S. represented 96% of the Americas' total long-lived assets at both January 31, 2020 and 2019, respectively.

(2)

Operating income in the Americas for the fiscal years ended January 31, 2020, 2019 and 2018 includes acquisition, integration and restructuring expenses of $16.1 million, $25.2 million and $75.5 million, respectively (see Note 6 – Acquisition, Integration and Restructuring Expenses for further discussion). Operating income in the Americas for the fiscal year ended January 31, 2019 includes a benefit of approximately $25 million related to the collection of an accounts receivable balance previously considered uncollectible.


(3)	Operating income in the Americas for the fiscal years ended January 31, 2020, 2019 and 2018 includes a gain recorded in legal settlements and other, net, of $0.6 million, $15.4 million and $42.6 million, respectively (see Note 1 – Business and Summary of Significant Accounting Policies for further discussion).


(4)	Operating income in Europe for the fiscal years ended January 31, 2020, 2019 and 2018 includes acquisition, integration and restructuring expenses of $8.4 million, $57.7 million and $56.2 million, respectively.

(5)

Operating income in Asia-Pacific for the fiscal year ended January 31, 2019 includes goodwill impairment expense of $47.4 million (see Note 4 – Goodwill and Intangible Assets for further discussion).