v3.26.1
Segment Information (Tables)
 6 Months Ended
May 31, 2026
Segment Reporting [Abstract]  
Segment Reporting
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.