Acquisitions (Tables)

9 Months Ended

Mar. 31, 2017

Schedule of Unaudited Consolidated Pro Forma Results of Operations



	Quarter ended March 31, 2017				Nine months ended March 31, 2017
	(in thousands, except per share data)				(in thousands, except per share data)
	As Reported, Consolidated		Pro forma, Consolidated ⁽¹⁾		As Reported, Consolidated		Pro forma, Consolidated ⁽²⁾
Net Sales	$	813,538	$	813,538	$	2,650,895	$	2,656,111
Operating income	19,978		19,978		66,128		67,580
Net Income	12,424		12,424		50,276		51,361
Earnings per share:
Basic	$	0.49	$	0.49	$	1.99	$	2.03
Diluted	$	0.49	$	0.49	$	1.97	$	2.02

(1) There were no acquisition costs in the pro forma results presented for the quarter ended March 31, 2017.

(2) Pro forma results include actual results from Intelisys for the two months ended August 31, 2016. Adjustments include additional amortization and depreciation expense as if the fair value of identifiable intangible assets, including software, had been recorded on July 1, 2015. On a gross basis, operating income includes additional amortization expense of $1.1 million and additional depreciation expense of $0.2 million for the nine months ended March 31, 2017. Net income, net of tax, includes additional amortization expense of $0.7 million and additional depreciation expense of $0.1 million for the nine months ended March 31, 2017. Adjustments also include additional income tax expense of $0.8 million and adding back acquisition costs of $0.5 million.



	Quarter ended March 31, 2016				Nine months ended March 31, 2016
	(in thousands, except per share data)				(in thousands, except per share data)
	As Reported, Consolidated		Pro forma, Consolidated ⁽³⁾		As Reported, Consolidated		Pro forma, Consolidated ⁽⁴⁾
Net Sales	$	798,404	$	805,097	$	2,662,754	$	2,683,588
Operating income	21,647		22,112		77,939		81,483
Net Income	14,042		14,296		50,694		52,768
Earnings per share:
Basic	$	0.54	$	0.55	$	1.90	$	1.97
Diluted	$	0.54	$	0.55	$	1.88	$	1.96

(3) Includes actual results for Intelisys for the quarter ended March 31, 2016. On a gross basis, operating income includes additional amortization expense of $1.6 million and additional depreciation expense of $0.3 million for the quarter ended March 31, 2016. Net income, net of tax, includes additional amortization expense of $1.0 million and additional depreciation expense of $0.2 million for the quarter ended March 31, 2016. Adjustments also include additional income tax expense of $0.8 million.

(4) Includes actual results for Intelisys for the nine months ended March 31, 2016. On a gross basis, operating income includes additional amortization expense of $4.8 million and additional depreciation expense of $0.8 million for the nine months ended March 31, 2016. Net income, net of tax, includes additional amortization expense of $3.0 million and additional depreciation expense of $0.5 million for the nine months ended March 31, 2016. Adjustments also include additional income tax expense of $3.4 million.

Following the acquisition date, Intelisys contributed the following results to the Condensed Consolidated Income Statement for the quarter and nine months ended March 31, 2017.



	Quarter ended March 31, 2017			Nine months ended March 31, 2017
Net Sales	$	8,893		$	20,244
Amortization of intangible assets	1,586			3,701
Change in fair value of contingent consideration	3,289			6,457
Operating income (loss)	(656		)	(942		)
Net income (loss)	$	(403	)	$	(392	)

KBZ, Inc.

Business Acquisition [Line Items]

Schedule of Purchase Price Allocations of Assets Acquired and Liabilities Assumed

The purchase price allocation is as follows:



	KBZ
	(in thousands)
Receivables, net	$	63,131
Inventory	11,227
Other Current Assets	10,303
Property and equipment, net	677
Goodwill	21,639
Identifiable intangible assets	18,400
Other non-current assets	1,399
	$	126,776
Accounts payable	$	48,271
Accrued expenses and other current liabilities	14,863
Other long-term liabilities	2,167
Consideration transferred, net of cash acquired	61,475
	$	126,776

Intelisys

Business Acquisition [Line Items]

Schedule of Purchase Price Allocations of Assets Acquired and Liabilities Assumed



	Intelisys
	(in thousands)
Receivables, net	$	21,655
Other current assets	1,547
Property and equipment, net	5,298
Goodwill	109,005
Identifiable intangible assets	63,110
Other non-current assets	1,839
	$	202,454
Accounts payable	$	21,063
Accrued expenses and other current liabilities	2,587
Contingent consideration	95,000
Consideration transferred, net of cash acquired	83,804
	$	202,454