| (1) Includes write downs (reversals) of inventory related to the wind down of a business. |
(2) Other includes loss (gain) on investments, net. |
(3) Other includes loss (gain) on investments, net and loss on extinguishment of debt. |
(4) The sum of the components for non-GAAP diluted EPS, as adjusted may not agree to totals, as presented, due to rounding. |
(5) The items as shown in this table, represent the reconciling items for the tax rate as reported and as a non-GAAP measure. |
ARROW ELECTRONICS, INC. SEGMENT INFORMATION (In thousands) (Unaudited) |
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|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
Quarter Ended |
|
Nine Months Ended |
||||||||||||
|
|
September 28, |
|
September 30, |
|
September 28, |
|
September 30, |
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|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
||||
Sales: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Global components |
|
$ |
4,946,059 |
|
|
$ |
6,245,192 |
|
|
$ |
15,169,507 |
|
|
$ |
19,783,867 |
|
Global ECS |
|
|
1,877,260 |
|
|
|
1,761,827 |
|
|
|
5,470,940 |
|
|
|
5,474,096 |
|
| Consolidated |
|
$ |
6,823,319 |
|
|
$ |
8,007,019 |
|
|
$ |
20,640,447 |
|
|
$ |
25,257,963 |
|
| Operating income (loss): |
|
|
|
|
|
|
|
|
|
|
|
|
||||
| Global components (a) |
|
$ |
188,600 |
|
|
$ |
379,053 |
|
|
$ |
624,363 |
|
|
$ |
1,177,906 |
|
| Global ECS (b) |
|
|
75,614 |
|
|
|
54,624 |
|
|
|
249,654 |
|
|
|
221,951 |
|
| Corporate (c) |
|
|
(88,952 |
) |
|
|
(93,594 |
) |
|
|
(300,563 |
) |
|
|
(245,372 |
) |
| Consolidated |
|
$ |
175,262 |
|
|
$ |
340,083 |
|
|
$ |
573,454 |
|
|
$ |
1,154,485 |
|
| (a) |
Global components operating income includes a reversal of $1.9 million and charges of $10.2 million in inventory write downs related to the wind down of a business for the third quarter and first nine months of 2024. Global components operating income includes $62.2 million in settlement charges recorded as a reduction to operating expense for the third quarter and first nine months of 2023. |
|
| (b) |
For the third quarter and first nine months of 2023, global ECS operating income includes charges of $21.9 million and $25.4 million, respectively, to increase the allowance for credit losses related to one customer. For the first nine months of 2024, global ECS operating income includes a reversal of $20.0 million for aged receivables that were collected, related to the same customer, which was taken during the second quarter of 2024. |
|
| (c) |
Corporate operating loss includes restructuring, integration, and other charges of $34.5 million and $121.9 million for the third quarter and first nine months of 2024, respectively, and $31.4 million and $44.3 million for the third quarter and first nine months of 2023, respectively. |
| NON-GAAP SEGMENT RECONCILIATION |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter Ended |
|
Nine Months Ended |
|||||||||
|
|
|
September 28, |
|
September 30, |
|
September 28, |
|
September 30, |
|||||
|
|
|
2024 |
|
|
2023 |
|
2024 |
|
2023 |
||||
| Global components operating income, as reported |
|
$ |
188,600 |
|
|
$ |
379,053 |
|
$ |
624,363 |
|
$ |
1,177,906 |
| Intangible assets amortization expense |
|
|
6,247 |
|
|
|
6,640 |
|
|
19,134 |
|
|
20,064 |
| Impact of wind down to inventory |
|
|
(1,857 |
) |
|
|
— |
|
|
10,229 |
|
|
— |
| Global components non-GAAP operating income |
|
$ |
192,990 |
|
|
$ |
385,693 |
|
$ |
653,726 |
|
$ |
1,197,970 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Global ECS operating income, as reported |
|
$ |
75,614 |
|
|
$ |
54,624 |
|
$ |
249,654 |
|
$ |
221,951 |
| Intangible assets amortization expense |
|
|
1,061 |
|
|
|
1,223 |
|
|
3,176 |
|
|
3,687 |
| Global ECS non-GAAP operating income |
|
$ |
76,675 |
|
|
$ |
55,847 |
|
$ |
252,830 |
|
$ |
225,638 |
