Segment Information

6 Months Ended

Jul. 31, 2011

Segment Information

Segment Information

NOTE 10 — 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 Americas (including North America and South America) and Europe. The Company assesses performance of and makes decisions on how to allocate resources to its operating segments based on multiple factors including current and projected operating income and market opportunities. The Company does not consider stock-based compensation expense in assessing the performance of its operating segments, and therefore the Company reports stock-based compensation expense as a separate amount. 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:

	Three months ended July 31,						Six months ended July 31,
	2011			2010			2011			2010
	(In thousands)						(In thousands)
Net sales to unaffiliated customers:
Americas	$	2,697,655		$	2,598,618		$	5,313,460		$	5,061,331
Europe		3,751,806			2,875,343			7,468,129			6,033,685
Total	$	6,449,461		$	5,473,961		$	12,781,589		$	11,095,016
Operating income:
Americas	$	47,635		$	44,580		$	95,508		$	88,870
Europe		33,855			23,838			64,132			51,483
Stock-based compensation expense		(2,715	)		(2,660	)		(5,182	)		(5,109	)
Total	$	78,775		$	65,758		$	154,458		$	135,244
Depreciation and amortization:
Americas	$	3,853		$	4,150		$	7,769		$	8,195
Europe		10,334			6,643			21,174			13,753
Total	$	14,187		$	10,793		$	28,943		$	21,948
Capital expenditures:
Americas	$	7,987		$	5,176		$	11,255		$	8,102
Europe		4,017			3,111			7,792			6,193
Total	$	12,004		$	8,287		$	19,047		$	14,295
Identifiable assets:
Americas	$	2,411,392		$	2,022,645		$	2,411,392		$	2,022,645
Europe		3,785,674			3,473,485			3,785,674			3,473,485
Total	$	6,197,066		$	5,496,130		$	6,197,066		$	5,496,130
Goodwill and acquisition-related intangible assets, net(1):
Americas	$	2,966		$	2,966		$	2,966		$	2,966
Europe		122,617			37,930			122,617			37,930
Total	$	125,583		$	40,896		$	125,583		$	40,896

⁽¹⁾  The increase in the goodwill and acquisition-related intangible assets, net, at July 31, 2011, is the result of the European acquisitions completed during the second semester of fiscal 2011.