New Accounting Standards and Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2018

Accounting Policies [Abstract]

Schedule of Changes Impact to Financial Results

The adoption of ASU 2014-09 resulted in the following retrospective adjustments to our previously-reported financial statement amounts for the periods presented below (some items may not foot across due to rounding) (in thousands, except per share amounts):

	Three Months Ended March 31, 2017									Three Months Ended June 30, 2017									Three Months Ended September 30, 2017									Three Months Ended December 31, 2017
	As Reported			New Revenue Recognition Standard Adjustment			As Adjusted			As Reported			New Revenue Recognition Standard Adjustment			As Adjusted			As Reported			New Revenue Recognition Standard Adjustment			As Adjusted			As Reported			New Revenue Recognition Standard Adjustment			As Adjusted
Net sales	$	524,399		$	(1,639	)	$	522,760		$	560,110		$	(4,028	)	$	556,082		$	545,479		$	(2,204	)	$	543,275		$	563,448		$	(18,678	)	$	544,770
Gross profit		78,205			293			78,498			85,371			(226	)		85,145			81,294			163			81,457			80,852			(1,224	)		79,628
Gross profit margin		14.9	%		10 bps			15.0	%		15.2	%		7 bps			15.3	%		14.9	%		9 bps			15.0	%		14.3	%		27 bps			14.6	%
Operating profit (loss)		4,473			238			4,711			5,624			(220	)		5,404			1,385			121			1,506			(41	)		(952	)		(993	)
Income tax expense (benefit)		(1,069	)		93			(976	)		1,273			(86	)		1,187			427			47			474			353			(371	)		(18	)
Net income (loss)		4,027			145			4,172			2,500			(134	)		2,366			(841	)		74			(767	)		(2,595	)		(581	)		(3,176	)
Earnings (Loss) Per Share:
Basic		0.33			0.01			0.34			0.20			(0.01	)		0.19			(0.07	)		0.01			(0.06	)		(0.22	)		(0.05	)		(0.27	)
Diluted		0.30			0.01			0.31			0.19			(0.01	)		0.18			(0.07	)		0.01			(0.06	)		(0.22	)		(0.05	)		(0.27	)

	At March 31, 2017							At June 30, 2017							At September 30, 2017
	As Reported		New Revenue Recognition Standard Adjustment			As Adjusted		As Reported		New Revenue Recognition Standard Adjustment			As Adjusted		As Reported		New Revenue Recognition Standard Adjustment			As Adjusted
Accounts receivable	$	354,301	$	12,618		$	366,919	$	442,460	$	12,269		$	454,729	$	412,733	$	14,497		$	427,230
Inventory		66,417		(11,331	)		55,086		77,439		(11,208	)		66,231		74,871		(13,273	)		61,598
Total current assets		446,602		1,287			447,889		541,735		1,061			542,796		506,011		1,224			507,235
Total assets		611,045		1,287			612,332		710,041		1,061			711,102		678,537		1,224			679,761
Accounts payable		241,470		236			241,706		355,834		229			356,063		271,841		271			272,112
Total current liabilities		447,006		236			447,242		536,910		229			537,139		506,050		271			506,321
Deferred income tax liability		1,556		410			1,966		3,758		324			4,082		3,819		371			4,190
Total liabilities		473,698		646			474,344		569,386		554			569,940		548,548		643			549,191
Retained Earnings		32,184		641			32,825		34,778		507			35,285		33,843		581			34,424
Total stockholders’ equity		137,347		641			137,988		140,655		507			141,162		129,989		581			130,570
Total liabilities and stockholders’ equity		611,045		1,287			612,332		710,041		1,061			711,102		678,537		1,224			679,761

	Year Ended December 31, 2017									Year Ended December 31, 2016
	As Reported			New Revenue Recognition Standard Adjustment			As Adjusted			As Reported			New Revenue Recognition Standard Adjustment			As Adjusted
Net sales	$	2,193,436		$	(26,549	)	$	2,166,887		$	2,250,587		$	(11,030	)	$	2,239,557
Gross profit		325,722			(994	)		324,728			318,801			126			318,927
Gross profit margin		14.8	%		14 bps			15.0	%		14.2	%		8 bps			14.2	%
Operating profit		11,441			(813	)		10,628			34,791			110			34,901
Income tax expense		984			(317	)		667			11,115			43			11,158
Net income		3,091			(496	)		2,595			17,593			67			17,660
Earnings Per Share:
Basic		0.25			(0.04	)		0.21			1.49			0.01			1.49
Diluted		0.24			(0.04	)		0.20			1.40			0.01			1.41

	At December 31, 2017						At December 31, 2016
	As Reported		New Revenue Recognition Standard Adjustment		As Adjusted		As Reported		New Revenue Recognition Standard Adjustment			As Adjusted
Accounts receivable	$	439,658	$	-	$	439,658	$	358,949	$	9,647		$	368,596
Inventory		103,471		-		103,471		80,872		(8,653	)		72,219
Total current assets		561,575		-		561,575		469,055		994			470,049
Total assets		740,252		-		740,252		629,810		994			630,804
Accounts payable		289,201		-		289,201		276,524		180			276,704
Total current liabilities		569,294		-		569,294		474,052		180			474,232
Deferred income tax liability		3,102		-		3,102		1,498		317			1,815
Total liabilities		612,626		-		612,626		501,339		498			501,837
Retained Earnings		31,248		-		31,248		28,251		496			28,747
Total stockholders’ equity		127,626		-		127,626		128,471		496			128,967
Total liabilities and stockholders’ equity		740,252		-		740,252		629,810		994			630,804

Schedule of Net Sales Disaggregated by Major Product Line and Reportable Segments

The following table presents our total net sales disaggregated by our major product line and our reportable segments (in thousands):

	Commercial		Public Sector		Canada		United Kingdom		Corporate & Other			Consolidated
Three Months Ended September 30, 2018
Hardware & Software Products	$	351,077	$	63,024	$	36,108	$	15,806	$	(155	)	$	465,860
Services		30,487		5,254		7,753		1,226		—			44,720
Total	$	381,564	$	68,278	$	43,861	$	17,032	$	(155	)	$	510,580
Three Months Ended September 30, 2017
Hardware & Software Products	$	393,814	$	76,446	$	30,245	$	2,691	$	(137	)	$	503,059
Services		29,665		2,664		7,841		46		—			40,216
Total	$	423,479	$	79,110	$	38,086	$	2,737	$	(137	)	$	543,275
Nine Months Ended September 30, 2018
Hardware & Software Products	$	1,114,361	$	185,890	$	122,596	$	44,799	$	(469	)	$	1,467,177
Services		92,884		13,162		22,801		3,818		—			132,665
Total	$	1,207,245	$	199,052	$	145,397	$	48,617	$	(469	)	$	1,599,842
Nine Months Ended September 30, 2017
Hardware & Software Products	$	1,182,452	$	211,530	$	107,620	$	3,053	$	(342	)	$	1,504,313
Services		84,440		10,613		22,705		46		—			117,804
Total	$	1,266,892	$	222,143	$	130,325	$	3,099	$	(342	)	$	1,622,117

Schedule of Deferred Revenue Related to Contracts with Customers

The change in our deferred revenue related to contracts with customers was as follows (in thousands):

	Current			Long-Term			Total
Balance at December 31, 2017	$	7,913	(1)	$	463	(2)	$	8,376
Deferral of revenue		22,855			391			23,246
Recognition of deferred revenue		(22,638	)		(837	)		(23,475	)
Foreign currency translation		(53	)		—			(53	)
Balance at September 30, 2018	$	8,077	(1)	$	17	(2)	$	8,094

(1)	Presented as “Deferred revenue” on our consolidated balance sheets.
(2)	Presented as part of “Other long-term liabilities” on our consolidated balance sheets.