v3.26.1
Segment Information
 6 Months Ended
May 31, 2026
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION:
Operating segments are components of the Company that engage in business activity that earn revenue and incur expenses and (a) whose operating results are regularly reviewed by the CODM to make decisions about resource allocation and performance and (b) for which discrete financial information is available. The Company’s Chief Executive Officer, who is also the CODM, primarily uses operating income to review segment performance by analyzing and comparing year-over-year and forecast-to-actual segment-level operational performance and to make strategic decisions concerning resource allocation across the operating segments.
During the first quarter of fiscal year 2026, the Company revised its reportable segments to align with how the CODM manages the business, assesses performance and allocates resources. The Company now operates in five operating segments and four reportable segments, comprised of three reportable segments related to its global distribution business organized within three geographic regions known as the Americas, Europe and APJ. The Company’s fourth reportable segment is Hyve Solutions, which operates globally. The Americas distribution reportable segment represents an aggregation of the North America distribution and Latin America distribution operating segments based on similarities in economic and operating characteristics as well as the consideration of quantitative threshold requirements. This change had no impact on the Company’s consolidated results of operations or financial position. Prior period segment results have been recast to reflect the Company’s new reportable segments.
Across each geographic region, the Company's distribution businesses bring together a broad portfolio of IT hardware, software and systems, providing access to products across the global IT ecosystem. The Company's Hyve Solutions business partners with technology companies to design, manufacture, and deliver traditional and accelerated compute, cloud, and connected infrastructure worldwide.
Summarized financial information related to the Company’s reportable business segments for the periods presented is shown below. Segment information for total assets and capital expenditures is not presented given that such information is not used in measuring segment performance or allocating resources between segments.
Americas
distribution		Europe
distribution		APJ
distribution		Hyve
Solutions		Consolidated
Three Months ended May 31, 2026
Revenue$9,545,327 $6,043,771 $1,020,152 $2,965,563 $19,574,813 
Less(1):
Cost of revenue(8,884,079)(5,648,184)(938,258)(2,764,831)(18,235,352)
Gross profit$661,248 $395,587 $81,894 $200,732 $1,339,461 
Less(1):
Payroll and payroll related expenses(2)
$(250,762)$(208,182)$(37,791)$(11,678)$(508,413)
Depreciation(3)
(14,385)(8,488)(1,277)(761)(24,911)
Amortization of intangibles(41,213)(33,472)(978)— (75,663)
Acquisition, integration and restructuring costs(2,130)37 (23)— (2,116)
Share-based compensation expense(9,969)(4,613)(1,096)(2,197)(17,875)
      Other segment items(4)
(99,540)(68,759)(15,537)(7,285)(191,121)
Operating income$243,249 $72,110 $25,192 $178,811 $519,362 
Reconciliation to consolidated income before tax
Interest expense and finance charges, net(97,841)
Other income, net8,412 
Income before income taxes$429,933 
Americas
distribution
Europe
distribution
APJ
distribution
Hyve
Solutions
Consolidated
Three Months ended May 31, 2025
Revenue$7,486,566 $4,676,539 $793,665 $1,989,545 $14,946,315 
Less(1):
Cost of revenue(6,935,981)(4,365,435)(728,478)(1,870,048)(13,899,942)
Gross profit$550,585 $311,104 $65,187 $119,497 $1,046,373 
Less(1):
Payroll and payroll related expenses(2)
$(226,752)$(175,794)$(32,769)$(12,151)$(447,466)
Depreciation(3)
(14,466)(8,891)(1,257)(869)(25,483)
Amortization of intangibles(40,488)(31,988)(806)— (73,282)
Acquisition, integration and restructuring costs(58)(499)(107)— (664)
Share-based compensation expense(6,843)(2,988)(795)(1,324)(11,950)
      Other segment items(4)
(79,047)(58,055)(11,729)(10,558)(159,389)
Operating income$182,931 $32,889 $17,724 $94,595 $328,139 
Reconciliation to consolidated income before tax
Interest expense and finance charges, net(89,982)
Other expense, net(79)
Income before income taxes$238,078 
Americas
distribution
Europe
distribution
APJ
distribution
Hyve
Solutions
Consolidated
Six Months ended May 31, 2026
Revenue$17,318,769 $12,280,943 $2,019,740 $5,116,559 $36,736,011 
Less(1):
Cost of revenue(16,069,511)(11,475,549)(1,856,009)(4,743,335)(34,144,404)
Gross profit$1,249,258 $805,394 $163,731 $373,224 $2,591,607 
Less(1):
Payroll and payroll related expenses(2)
$(492,127)$(408,196)$(71,796)$(19,624)$(991,743)
Depreciation(3)
(28,729)(16,720)(2,548)(1,462)(49,459)
Amortization of intangibles(82,405)(67,007)(1,954)— (151,366)
Acquisition, integration and restructuring costs(4,201)1,335 (134)— (3,000)
Share-based compensation expense(21,685)(11,729)(2,457)(5,649)(41,520)
      Other segment items(4)
(180,721)(123,062)(29,810)(12,204)(345,797)
Operating income$439,390 $180,015 $55,032 $334,285 $1,008,722 
Reconciliation to consolidated income before tax
Interest expense and finance charges, net(184,375)
Other income, net27,994 
Income before income taxes$852,341 
Americas
distribution
Europe
distribution
APJ
distribution
Hyve
Solutions
Consolidated
Six Months ended May 31, 2025
Revenue$14,557,098 $9,634,795 $1,564,027 $3,722,102 $29,478,022 
Less(1):
Cost of revenue(13,504,775)(8,997,176)(1,441,905)(3,489,787)(27,433,643)
Gross profit$1,052,323 $637,619 $122,122 $232,315 $2,044,379 
Less(1):
Payroll and payroll related expenses(2)
$(454,907)$(336,950)$(63,610)$(24,163)$(879,630)
Depreciation(3)
(28,716)(16,849)(2,515)(1,453)(49,533)
Amortization of intangibles(80,905)(62,177)(1,607)— (144,689)
Acquisition, integration and restructuring costs(382)(1,125)(219)— (1,726)
Share-based compensation expense(18,663)(9,800)(2,125)(3,223)(33,811)
      Other segment items(4)
(153,708)(109,909)(23,751)(15,024)(302,392)
Operating income$315,042 $100,809 $28,295 $188,452 $632,598 
Reconciliation to consolidated income before tax
Interest expense and finance charges, net(177,862)
Other expense, net(1,775)
Income before income taxes$452,961 
(1) The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM.
(2) Represents payroll costs for each reportable segment that are recorded within selling, general and administrative expenses.
(3) Represents depreciation recorded within selling, general and administrative expenses. Excludes depreciation recorded within cost of revenue, which totaled $4.7 million and $4.8 million in the three months ended May 31, 2026 and 2025, respectively, and $9.1 million in both the six months ended May 31, 2026 and 2025.
(4) Other segment items for each reportable segment include various operating costs including cost of warehouses, delivery centers and other non-integration facilities, IT expenses, credit costs including bad debt expense, travel and entertainment, legal and professional fees, non-income taxes and other miscellaneous selling, general, and administrative expenses.