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Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2019	Apr. 29, 2019
Document And Entity Information
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Trading Symbol	CNXN
Entity Registrant Name	PC CONNECTION INC
Entity Central Index Key	0001050377
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		26,359,259

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Current Assets:
Cash and cash equivalents	$ 93,470	$ 91,703
Accounts receivable, net	433,948	447,698
Inventories, net	137,665	119,195
Income taxes receivable		922
Prepaid expenses and other current assets	7,261	9,661
Total current assets	672,344	669,179
Property and equipment, net	55,438	51,799
Right-of-use assets, net	16,750
Goodwill	73,602	73,602
Intangibles assets, net	9,223	9,564
Other assets	1,092	1,211
Total Assets	828,449	805,355
Current Liabilities:
Accounts payable	204,196	201,640
Accrued payroll	18,066	24,319
Accrued expenses and other liabilities	36,619	33,840
Total current liabilities	258,881	259,799
Deferred income taxes	17,184	17,184
Operating lease liability	13,215
Other liabilities	1,577	2,469
Total Liabilities	290,857	279,452
Stockholders' Equity:
Common stock	288	288
Additional paid-in capital	116,098	115,842
Retained earnings	453,737	441,010
Treasury stock, at cost	(32,531)	(31,237)
Total Stockholders' Equity	537,592	525,903
Total Liabilities and Stockholders' Equity	$ 828,449	$ 805,355

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Consolidated Statements of Income
Net sales	$ 632,921	$ 624,895
Cost of sales	533,574	528,523
Gross profit	99,347	96,372
Selling, general and administrative expenses	81,235	80,900
Restructuring and other charges	703	0
Income from operations	17,409	15,472
Interest income, net	198	116
Income before taxes	17,607	15,588
Income tax provision	(4,880)	(4,288)
Net income	$ 12,727	$ 11,300
Earnings per common share:
Basic	$ 0.48	$ 0.42
Diluted	$ 0.48	$ 0.42
Shares used in computation of earnings per common share:
Basic	26,359	26,835
Diluted	26,525	26,916

CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Common Stock	Additional Paid-In Capital	Retained Earnings	Treasury Shares	Total
Balance at Dec. 31, 2017	$ 287	$ 114,154	$ 383,673	$ (15,862)	$ 482,252
Balance (in shares) at Dec. 31, 2017	28,709			(1,856)
Stock-based compensation expense		207			207
Repurchases of common stock for treasury				$ (2,997)	(2,997)
Repurchase of common stock for treasury (in shares)				(116)
Net income			11,300		11,300
Balance at Mar. 31, 2018	$ 287	114,361	396,170	$ (18,859)	491,959
Balance (in shares) at Mar. 31, 2018	28,709			(1,972)
Cumulative effect of adoption of ASC 606			1,197		1,197
Balance at Dec. 31, 2018	$ 288	115,842	441,010	$ (31,237)	525,903
Balance (in shares) at Dec. 31, 2018	28,787			(2,391)
Issuance of common stock under Employee Stock Purchase Plan		(13)			(13)
Stock-based compensation expense		269			269
Restricted stock units vested (in shares)	3
Repurchases of common stock for treasury				$ (1,294)	(1,294)
Repurchase of common stock for treasury (in shares)				(43)
Net income			12,727		12,727
Balance at Mar. 31, 2019	$ 288	$ 116,098	$ 453,737	$ (32,531)	$ 537,592
Balance (in shares) at Mar. 31, 2019	28,790			(2,434)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash Flows provided by Operating Activities:
Net income	$ 12,727	$ 11,300
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	3,709	3,300
Provision for doubtful accounts	256	417
Stock-based compensation expense	269	207
Deferred income taxes		429
Changes in assets and liabilities:
Accounts receivable	13,494	57,389
Inventories	(18,470)	10,302
Prepaid expenses, income tax receivables and other current assets	3,322	2,721
Other non-current assets	119	(1,880)
Accounts payable	2,121	(42,521)
Accrued expenses and other liabilities	551	(4,420)
Net cash provided by operating activities	18,098	37,244
Cash Flows used in Investing Activities:
Purchases of equipment	(6,572)	(5,007)
Net cash used in investing activities	(6,572)	(5,007)
Cash Flows (used in) provided by Financing Activities:
Proceeds from short-term borrowings		859
Purchase of treasury shares	(1,294)	(2,997)
Dividend payment	(8,452)	(9,122)
Issuance of stock under Employee Stock Purchase Plan	(13)
Net cash used in financing activities	(9,759)	(11,260)
Increase in cash and cash equivalents	1,767	20,977
Cash and cash equivalents, beginning of year	91,703	49,990
Cash and cash equivalents, end of year	93,470	70,967
Non-cash Investing and Financing Activities:
Accrued capital expenditures	1,987	1,140
Supplemental Cash Flow Information:
Income taxes paid	$ 291	$ 320

BASIS OF PRESENTATION

3 Months Ended

Mar. 31, 2019

Summary of Significant Accounting Policies

Basis of Presentation

Note 1–Basis of Presentation

The accompanying unaudited condensed consolidated financial statements of PC Connection, Inc. and its subsidiaries (the “Company,” “we,” “us,” or “our”) have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission regarding interim financial reporting and in accordance with accounting principles generally accepted in the United States of America. Such principles were applied on a basis consistent with the accounting policies described in our Annual Report on Form 10-K for the year ended December 31, 2018, filed with the Securities and Exchange Commission (the “SEC”), other than the adoption of Accounting Standards Update (“ASU”) No. 2016-02, Leases (“ASC 842”) using a modified retrospective approach as of January 1, 2018, as discussed below. The accompanying condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements contained in our Annual Report on Form 10-K.

In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments (consisting only of normal recurring adjustments) necessary for a fair presentation of the results of operations for the interim periods reported and of the Company’s financial condition as of the date of the interim balance sheet. The Company considers events or transactions that occur after the balance sheet date but before the financial statements are issued to provide additional evidence relative to certain estimates or to identify matters that require additional disclosure. Subsequent events have been evaluated through the date of issuance of these financial statements. The operating results for the three months ended March 31, 2019 may not be indicative of the results expected for any succeeding quarter or the entire year ending December 31, 2019.

Use of Estimates in the Preparation of Financial Statements

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions. These estimates and assumptions affect the amounts reported in the accompanying condensed consolidated financial statements. Actual results could differ from those estimates.

Comprehensive Income

We had no items of comprehensive income, other than our net income for each of the periods presented.

Restructuring and other charges


	Three months ended March 31,
	2019
Employee separations	$	553
Lease termination costs		150
Total restructuring and other charges	$	703

The restructuring and other charges recorded in the first quarter of 2019 were related to a reduction in workforce in our Headquarters/Other group and included cash severance payments and other related benefits. These costs will be paid within a year of termination and are included in accrued expenses at March 31, 2019. Also included were exit costs incurred associated with the closing of one of our office facilities. There were no restructuring and other charges recorded in the first quarter of 2018.

All planned restructuring and other charges were incurred as of March 31, 2019 and we have no ongoing restructuring plans.

Adoption of Recently Issued Accounting Standards

In February 2016, the Financial Accounting Standards Board, or the FASB, issued ASC 842 - Leases, which amended the accounting standards for leases. The core principle of the guidance is that an entity should establish a right-of-use (ROU) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than twelve months.

The Company adopted ASC 842 effective January 1, 2019 using a modified retrospective transition approach to each lease that existed as of the adoption date and any leases entered into after that date. We elected the package of practical expedients which permits us to not reassess (1) whether any expired or existing contracts are or contain leases, (2) the lease classification of any expired or existing leases, and (3) any initial direct costs for any existing leases as of the effective date. The Company also elected the hindsight practical expedient, which allows it to use hindsight in determining the lease term. The adoption did not result in a cumulative adjustment to opening equity. The comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods.

In assessing the impact of the adoption, the Company elected to apply the short-team lease exception to any leases with contractual obligations of one year or less. These leases will continue to be treated as operating leases in accordance with the new accounting standard. Consequently, the adoption resulted in the capitalization of a number of the Company’s office leases, for which it recognized a lease liability of $18,835, which was based on the present value of the future payments for these leases. The Company recorded a corresponding right-of-use asset of $18,723, which was adjusted for $114 of remaining unamortized lease incentives as of December 31, 2018. Only those components that were considered integral to the right to use an underlying asset were considered lease components when determining the amounts to capitalize. In accordance with ASC 842, the discount rates used in the present value calculations for each lease should be the rates implicit in the lease, if readily available. Since none of the lease agreements contain explicit discount rates, the Company utilized estimated rates that it would have incurred to borrow, over a similar term, the funds necessary to purchase the respective leased asset with cash. The remaining contractual term for these leases as of January 1, 2019 ranged from 20 to 197 months. Options to renew were considered in determining the present value of the future lease payments in the event the Company believed it was reasonably certain it will assert its respective options to renew.

The Company leases certain facilities from a related party, which is a company affiliated with us through common ownership. Included in the right-of-use asset as of March 31, 2019 was $5,998 and a corresponding lease liability of $5,675 associated with related party leases.

As of March 31, 2019, the Company had no leases that were classified as financing leases and there were no additional operating or financing leases that have not yet commenced. Refer to the following table for quantitative information related to the Company’s leases:


	Three months ended March 31, 2019
	Related Parties		Others		Total
Lease Cost
Capitalized operating lease cost	$	379	$	831	$	1,210
Short-term lease cost		41		2		43
Total lease cost	$	420	$	833	$	1,253

Other Information
Cash paid for amounts included in the measurement of lease liabilities and capitalized operating leases:
Operating cash flows	$	379	$	884	$	1,263

Weighted-average remaining lease term (in years):
Capitalized operating leases		4.59		10.55		8.64

Weighted-average discount rate:
Capitalized operating leases		3.92%		3.92%		3.92%

As of March 31, 2019, future lease payments over the remaining term of capitalized operating leases were as follows:


For the Years Ended December 31,		Related Parties		Others		Total
2019, excluding the three months ended March 31, 2019	$	1,137	$	2,534	$	3,671
2020		1,385		3,379		4,764
2021		1,253		2,481		3,734
2022		1,253		1,484		2,737
2023		1,149		1,034		2,183
2024		—		1,043		1,043
Thereafter		—		583		583
	$	6,177	$	12,538	$	18,715

Imputed interest						(964)
Lease liability balance at March 31, 2019					$	17,751

Future aggregate minimum annual lease payments as of December 31, 2018 reported in our 2018 Form 10-K under the previous lease accounting standard were as follows:


For the Years Ended December 31,		Related Parties		Others		Total
2019	$	1,516	$	3,519	$	5,035
2020		1,407		3,386		4,793
2021		1,253		2,466		3,719
2022		1,253		1,490		2,743
2023		1,149		820		1,969
2024 and thereafter		—		1,395		1,395
	$	6,578	$	13,076	$	19,654

As of March 31, 2019, the ROU asset had a net balance of $16,750. The long-term lease liability was $13,215 and the short-term lease liability, which is included in accrued expenses and other liabilities in the consolidated balance sheets, was $4,536.

Recently Issued Financial Accounting Standards

In January 2017, the FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment, which simplifies the accounting for goodwill impairments by eliminating step two from the goodwill impairment test. Instead, if the carrying amount of a reporting unit exceeds its fair value, an impairment loss shall be recognized in an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit. ASU 2017-04 also clarifies the requirements for excluding and allocating foreign currency translation adjustments to reporting units related to an entity's testing of reporting units for goodwill impairment and clarifies that an entity should consider income tax effects from any tax-deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. The new standard is effective for fiscal years beginning January 1, 2020 for both interim and annual reporting periods. The Company expects to adopt this new standard in 2019 when it performs its annual goodwill impairment test in the fourth quarter. The Company does not expect the adoption of this ASU to have a material impact on its consolidated financial statements.

REVENUE

3 Months Ended

Mar. 31, 2019

Revenue

Revenue

Note 2–Revenue

We disaggregate revenue from our arrangements with customers by type of products and services, as we believe this method best depicts how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors.

The following tables represent a disaggregation of revenue from arrangements with customers for the three months ended March 31, 2019 and 2018, along with the reportable segment for each category.


	Three Months Ended March 31, 2019
	Business Solutions		Enterprise Solutions		Public Sector Solutions		Total
Notebooks/Mobility	$	80,935	$	66,565	$	27,375	$	174,875
Desktops		26,784		35,969		10,887		73,640
Software		34,688		27,776		9,272		71,736
Servers/Storage		25,717		17,425		12,416		55,558
Net/Com Products		22,239		14,628		10,144		47,011
Displays and Sound		20,332		26,935		9,879		57,146
Accessories		22,053		56,515		9,645		88,213
Other Hardware/Services		20,184		29,822		14,736		64,742
Total net sales	$	252,932	$	275,635	$	104,354	$	632,921


	Three Months Ended March 31, 2018 (1)
	Business Solutions		Enterprise Solutions		Public Sector Solutions		Total
Notebooks/Mobility	$	71,729	$	63,438	$	23,898	$	159,065
Desktops		28,291		31,226		10,074		69,591
Software		34,424		28,441		6,863		69,728
Servers/Storage		31,501		24,543		17,139		73,183
Net/Com Products		27,026		12,368		12,758		52,152
Displays and Sound		23,310		22,005		9,471		54,786
Accessories		25,017		38,969		9,822		73,808
Other Hardware/Services		21,980		36,254		14,348		72,582
Total net sales	$	263,278	$	257,244	$	104,373	$	624,895

(1)

Product categories were separated into additional categories in 2019. Certain prior-year balances have been classified to conform with the new presentation.

Contract Balances

The following table provides information about contract liability from arrangements with customers as of March 31, 2019 and December 31, 2018.


	March 31, 2019		December 31, 2018
Contract liability, which are included in "Accrued expenses and other liabilities"	$	4,692	$	2,679

Changes in the contract liability balances during the three months ended March 31, 2019 are as follows (in thousands):


	Three Months Ended
	March 31,
Balances at December 31, 2018	$	2,679
Cash received in advance and not recognized as revenue		4,657
Amounts recognized as revenue as performance obligations satisfied		(2,644)
Balances at March 31, 2019	$	4,692

EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2019

Earnings Per Share

Earnings Per Share

Note 3–Earnings Per Share

Basic earnings per common share is computed using the weighted average number of shares outstanding. Diluted earnings per share is computed using the weighted average number of shares outstanding adjusted for the incremental shares attributable to non-vested stock units and stock options outstanding, if dilutive.

The following table sets forth the computation of basic and diluted earnings per share:


	Three Months Ended March 31 ,
	2019		2018
Numerator:
Net income	$	12,727	$	11,300
Denominator:
Denominator for basic earnings per share		26,359		26,835
Dilutive effect of unvested employee stock awards		166		81
Denominator for diluted earnings per share		26,525		26,916
Earnings per share:
Basic	$	0.48	$	0.42
Diluted	$	0.48	$	0.42

For the three months ended March 31, 2019 and 2018, we had no outstanding non-vested stock units that were excluded from the computation of diluted earnings per share because including them would have had an anti-dilutive effect.

SEGMENT AND RELATED DISCLOSURES

3 Months Ended

Mar. 31, 2019

Segment and Related Disclosures

Segment and Related Disclosures

Note 4–Segment and Related Disclosures

The internal reporting structure used by our chief operating decision maker (“CODM”) to assess performance and allocate resources determines the basis for our reportable operating segments. Our CODM is our Chief Executive Officer, and he evaluates operations and allocates resources based on a measure of operating income.

Our operations are organized under three reportable segments—the Business Solutions segment, which serves primarily small- and medium-sized businesses; the Enterprise Solutions segment, which serves primarily medium-to-large corporations; and the Public Sector Solutions segment, which serves primarily federal, state, and local governmental and educational institutions. In addition, the Headquarters/Other group provides services in areas such as finance, human resources, information technology, marketing, and product management. Most of the operating costs associated with the Headquarters/Other group functions are charged to the operating segments based on their estimated usage of the underlying functions. We report these charges to the operating segments as “Allocations.” Certain headquarters costs relating to executive oversight and other fiduciary functions that are not allocated to the operating segments are included under the heading of Headquarters/Other in the tables below.

Segment information applicable to our reportable operating segments for the three months ended March 31, 2019 and 2018 is shown below:


	Three Months Ended March 31 ,
	2019		2018
Net sales:
Business Solutions	$	252,932	$	263,278
Enterprise Solutions		275,635		257,244
Public Sector Solutions		104,354		104,373
Total net sales	$	632,921	$	624,895
Operating income (loss):
Business Solutions	$	8,765	$	9,482
Enterprise Solutions		15,473		12,678
Public Sector Solutions		(3,066)		(3,125)
Headquarters/Other		(3,763)		(3,563)
Total operating income		17,409		15,472
Interest income, net		198		116
Income before taxes	$	17,607	$	15,588
Selected operating expense:
Depreciation and amortization:
Business Solutions	$	150	$	174
Enterprise Solutions		639		482
Public Sector Solutions		21		34
Headquarters/Other		2,899		2,610
Total depreciation and amortization	$	3,709	$	3,300
Total assets:
Business Solutions	$	280,889	$	255,230
Enterprise Solutions		484,497		406,303
Public Sector Solutions		55,536		52,709
Headquarters/Other		7,527		(10,672)
Total assets	$	828,449	$	703,570

The assets of our three operating segments presented above consist primarily of accounts receivable, net intercompany receivable, goodwill, and other intangibles. Assets reported under the Headquarters/Other group are managed by corporate headquarters, including cash, inventory, property and equipment, right-of-use assets, and intercompany balance, net. As of March 31, 2019 and 2018, total assets for the Headquarters/Other group are presented net of intercompany balance eliminations of $11,201 and $10,431, respectively. Our capital expenditures consist largely of IT hardware and software purchased to maintain or upgrade our management information systems. These information systems serve all of our segments, to varying degrees, and accordingly, our CODM does not evaluate capital expenditures on a segment basis.

BASIS OF PRESENTATION (Tables)

3 Months Ended

Mar. 31, 2019

Summary of Significant Accounting Policies

Schedule of restructuring and other charges


	Three months ended March 31,
	2019
Employee separations	$	553
Lease termination costs		150
Total restructuring and other charges	$	703

Schedule of lease cost


	Three months ended March 31, 2019
	Related Parties		Others		Total
Lease Cost
Capitalized operating lease cost	$	379	$	831	$	1,210
Short-term lease cost		41		2		43
Total lease cost	$	420	$	833	$	1,253

Other Information
Cash paid for amounts included in the measurement of lease liabilities and capitalized operating leases:
Operating cash flows	$	379	$	884	$	1,263

Weighted-average remaining lease term (in years):
Capitalized operating leases		4.59		10.55		8.64

Weighted-average discount rate:
Capitalized operating leases		3.92%		3.92%		3.92%

Schedule of future lease payments on capitalized operating leases

As of March 31, 2019, future lease payments over the remaining term of capitalized operating leases were as follows:


For the Years Ended December 31,		Related Parties		Others		Total
2019, excluding the three months ended March 31, 2019	$	1,137	$	2,534	$	3,671
2020		1,385		3,379		4,764
2021		1,253		2,481		3,734
2022		1,253		1,484		2,737
2023		1,149		1,034		2,183
2024		—		1,043		1,043
Thereafter		—		583		583
	$	6,177	$	12,538	$	18,715

Imputed interest						(964)
Lease liability balance at March 31, 2019					$	17,751

Future aggregate minimum annual lease payments as of December 31, 2018 reported in our 2018 Form 10-K under the previous lease accounting standard were as follows:


For the Years Ended December 31,		Related Parties		Others		Total
2019	$	1,516	$	3,519	$	5,035
2020		1,407		3,386		4,793
2021		1,253		2,466		3,719
2022		1,253		1,490		2,743
2023		1,149		820		1,969
2024 and thereafter		—		1,395		1,395
	$	6,578	$	13,076	$	19,654

REVENUE (Tables)

3 Months Ended

Mar. 31, 2019

Revenue

Schedule of disaggregation of revenue from contracts with customers


	Three Months Ended March 31, 2019
	Business Solutions		Enterprise Solutions		Public Sector Solutions		Total
Notebooks/Mobility	$	80,935	$	66,565	$	27,375	$	174,875
Desktops		26,784		35,969		10,887		73,640
Software		34,688		27,776		9,272		71,736
Servers/Storage		25,717		17,425		12,416		55,558
Net/Com Products		22,239		14,628		10,144		47,011
Displays and Sound		20,332		26,935		9,879		57,146
Accessories		22,053		56,515		9,645		88,213
Other Hardware/Services		20,184		29,822		14,736		64,742
Total net sales	$	252,932	$	275,635	$	104,354	$	632,921


	Three Months Ended March 31, 2018 (1)
	Business Solutions		Enterprise Solutions		Public Sector Solutions		Total
Notebooks/Mobility	$	71,729	$	63,438	$	23,898	$	159,065
Desktops		28,291		31,226		10,074		69,591
Software		34,424		28,441		6,863		69,728
Servers/Storage		31,501		24,543		17,139		73,183
Net/Com Products		27,026		12,368		12,758		52,152
Displays and Sound		23,310		22,005		9,471		54,786
Accessories		25,017		38,969		9,822		73,808
Other Hardware/Services		21,980		36,254		14,348		72,582
Total net sales	$	263,278	$	257,244	$	104,373	$	624,895

Product categories were separated into additional categories in 2019. Certain prior-year balances have been classified to conform with the new presentation.

Schedule of information on contract liability


	March 31, 2019		December 31, 2018
Contract liability, which are included in "Accrued expenses and other liabilities"	$	4,692	$	2,679

Changes in the contract liability balances during the three months ended March 31, 2019 are as follows (in thousands):


	Three Months Ended
	March 31,
Balances at December 31, 2018	$	2,679
Cash received in advance and not recognized as revenue		4,657
Amounts recognized as revenue as performance obligations satisfied		(2,644)
Balances at March 31, 2019	$	4,692

SEGMENT AND RELATED DISCLOSURES (Tables)

3 Months Ended

Mar. 31, 2019

Segment and Related Disclosures

Segment Information Applicable to Reportable Operating Segments

Segment information applicable to our reportable operating segments for the three months ended March 31, 2019 and 2018 is shown below:


	Three Months Ended March 31 ,
	2019		2018
Net sales:
Business Solutions	$	252,932	$	263,278
Enterprise Solutions		275,635		257,244
Public Sector Solutions		104,354		104,373
Total net sales	$	632,921	$	624,895
Operating income (loss):
Business Solutions	$	8,765	$	9,482
Enterprise Solutions		15,473		12,678
Public Sector Solutions		(3,066)		(3,125)
Headquarters/Other		(3,763)		(3,563)
Total operating income		17,409		15,472
Interest income, net		198		116
Income before taxes	$	17,607	$	15,588
Selected operating expense:
Depreciation and amortization:
Business Solutions	$	150	$	174
Enterprise Solutions		639		482
Public Sector Solutions		21		34
Headquarters/Other		2,899		2,610
Total depreciation and amortization	$	3,709	$	3,300
Total assets:
Business Solutions	$	280,889	$	255,230
Enterprise Solutions		484,497		406,303
Public Sector Solutions		55,536		52,709
Headquarters/Other		7,527		(10,672)
Total assets	$	828,449	$	703,570

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Effect of Adoption of ASC 842 (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019 USD ($) lease	Jan. 01, 2019 USD ($)
Leases
Lease, Practical Expedients, Package	true
Lease, Practical Expedient, Use of Hindsight	true
Lease liability	$ 17,751	$ 18,835
Right-of-use assets, net	16,750	18,723
Remaining unamortized lease incentives	$ 964	$ 114
Number of financing leases \| lease	0
Number of additional operating or financing leases not yet commenced \| lease	0
Lease Cost
Capitalized operating lease cost	$ 1,210
Short-term lease cost	43
Total lease cost	1,253
Cash paid for amounts included in the measurement of lease liabilities and capitalized operating leases:
Operating cash flows	$ 1,263
Weighted-average remaining lease term - Capitalized operating leases	8 years 7 months 21 days
Weighted-average discount rate - Capitalized operating leases	3.92%
Minimum
Leases
Number of years remaining on existing operating leases	20 months
Maximum
Leases
Number of years remaining on existing operating leases	197 months
Related Parties
Leases
Lease liability	$ 5,675
Right-of-use assets, net	5,998
Lease Cost
Capitalized operating lease cost	379
Short-term lease cost	41
Total lease cost	420
Cash paid for amounts included in the measurement of lease liabilities and capitalized operating leases:
Operating cash flows	$ 379
Weighted-average remaining lease term - Capitalized operating leases	4 years 7 months 2 days
Weighted-average discount rate - Capitalized operating leases	3.92%
Others
Lease Cost
Capitalized operating lease cost	$ 831
Short-term lease cost	2
Total lease cost	833
Cash paid for amounts included in the measurement of lease liabilities and capitalized operating leases:
Operating cash flows	$ 884
Weighted-average remaining lease term - Capitalized operating leases	10 years 6 months 18 days
Weighted-average discount rate - Capitalized operating leases	3.92%

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Future Lease Payments (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
Future lease payments over the remaining term of capitalized operating leases
2019, excluding the three months ended March 31, 2019	$ 3,671
2020	4,764
2021	3,734
2022	2,737
2023	2,183
2024	1,043
Thereafter	583
Total	18,715
Imputed interest	(964)	$ (114)
Lease liability balance	17,751	18,835
Operating Lease, Right-of-Use Asset	16,750	$ 18,723
Long-term lease liability	13,215
Operating Lease, Liability, Current	$ 4,536
Current operating lease liability, Statement of Financial Position	pccc:AccruedExpensesAndOtherLiabilities
Future aggregate minimum annual lease payments
2019			$ 5,035
2020			4,793
2021			3,719
2022			2,743
2023			1,969
2024 and thereafter			1,395
Total			19,654
Related Parties
Future lease payments over the remaining term of capitalized operating leases
2019, excluding the three months ended March 31, 2019	$ 1,137
2020	1,385
2021	1,253
2022	1,253
2023	1,149
Total	6,177
Lease liability balance	5,675
Operating Lease, Right-of-Use Asset	5,998
Future aggregate minimum annual lease payments
2019			1,516
2020			1,407
2021			1,253
2022			1,253
2023			1,149
Total			6,578
Others
Future lease payments over the remaining term of capitalized operating leases
2019, excluding the three months ended March 31, 2019	2,534
2020	3,379
2021	2,481
2022	1,484
2023	1,034
2024	1,043
Thereafter	583
Total	$ 12,538
Future aggregate minimum annual lease payments
2019			3,519
2020			3,386
2021			2,466
2022			1,490
2023			820
2024 and thereafter			1,395
Total			$ 13,076

REVENUE - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Disaggregation of revenue
Net sales	$ 632,921	$ 624,895
Notebooks/Mobility
Disaggregation of revenue
Net sales	174,875	159,065
Desktops
Disaggregation of revenue
Net sales	73,640	69,591
Software
Disaggregation of revenue
Net sales	71,736	69,728
Servers/Storage
Disaggregation of revenue
Net sales	55,558	73,183
Net/Com Products
Disaggregation of revenue
Net sales	47,011	52,152
Displays and Sound
Disaggregation of revenue
Net sales	57,146	54,786
Accessories
Disaggregation of revenue
Net sales	88,213	73,808
Other Hardware/Services
Disaggregation of revenue
Net sales	64,742	72,582
Business Solutions
Disaggregation of revenue
Net sales	252,932	263,278
Business Solutions \| Notebooks/Mobility
Disaggregation of revenue
Net sales	80,935	71,729
Business Solutions \| Desktops
Disaggregation of revenue
Net sales	26,784	28,291
Business Solutions \| Software
Disaggregation of revenue
Net sales	34,688	34,424
Business Solutions \| Servers/Storage
Disaggregation of revenue
Net sales	25,717	31,501
Business Solutions \| Net/Com Products
Disaggregation of revenue
Net sales	22,239	27,026
Business Solutions \| Displays and Sound
Disaggregation of revenue
Net sales	20,332	23,310
Business Solutions \| Accessories
Disaggregation of revenue
Net sales	22,053	25,017
Business Solutions \| Other Hardware/Services
Disaggregation of revenue
Net sales	20,184	21,980
Enterprise Solutions
Disaggregation of revenue
Net sales	275,635	257,244
Enterprise Solutions \| Notebooks/Mobility
Disaggregation of revenue
Net sales	66,565	63,438
Enterprise Solutions \| Desktops
Disaggregation of revenue
Net sales	35,969	31,226
Enterprise Solutions \| Software
Disaggregation of revenue
Net sales	27,776	28,441
Enterprise Solutions \| Servers/Storage
Disaggregation of revenue
Net sales	17,425	24,543
Enterprise Solutions \| Net/Com Products
Disaggregation of revenue
Net sales	14,628	12,368
Enterprise Solutions \| Displays and Sound
Disaggregation of revenue
Net sales	26,935	22,005
Enterprise Solutions \| Accessories
Disaggregation of revenue
Net sales	56,515	38,969
Enterprise Solutions \| Other Hardware/Services
Disaggregation of revenue
Net sales	29,822	36,254
Public Sector Solutions
Disaggregation of revenue
Net sales	104,354	104,373
Public Sector Solutions \| Notebooks/Mobility
Disaggregation of revenue
Net sales	27,375	23,898
Public Sector Solutions \| Desktops
Disaggregation of revenue
Net sales	10,887	10,074
Public Sector Solutions \| Software
Disaggregation of revenue
Net sales	9,272	6,863
Public Sector Solutions \| Servers/Storage
Disaggregation of revenue
Net sales	12,416	17,139
Public Sector Solutions \| Net/Com Products
Disaggregation of revenue
Net sales	10,144	12,758
Public Sector Solutions \| Displays and Sound
Disaggregation of revenue
Net sales	9,879	9,471
Public Sector Solutions \| Accessories
Disaggregation of revenue
Net sales	9,645	9,822
Public Sector Solutions \| Other Hardware/Services
Disaggregation of revenue
Net sales	$ 14,736	$ 14,348

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Numerator:
Net income	$ 12,727	$ 11,300
Denominator:
Denominator for basic earnings per share	26,359	26,835
Dilutive effect of employee stock awards	166	81
Denominator for diluted earnings per share	26,525	26,916
Earnings per share:
Basic	$ 0.48	$ 0.42
Diluted	$ 0.48	$ 0.42
Additional Disclosure
Employee stock awards excluded from computation of diluted earnings per share	0	0

SEGMENT AND RELATED DISCLOSURES - Segment Information Applicable to Reportable Operating Segments (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019 USD ($) segment	Mar. 31, 2018 USD ($)	Dec. 31, 2018 USD ($)
Segment Reporting Information
Number of reportable segments \| segment	3
Number of operating segments \| segment	3
Net sales:
Net sales	$ 632,921	$ 624,895
Operating income (loss):
Operating income (loss)	17,409	15,472
Interest income, net	198	116
Income before taxes	17,607	15,588
Depreciation and amortization:
Depreciation and amortization	3,709	3,300
Total assets:
Total assets	828,449	703,570	$ 805,355
Goodwill	73,602		$ 73,602
Business Solutions
Net sales:
Net sales	252,932	263,278
Enterprise Solutions
Net sales:
Net sales	275,635	257,244
Public Sector Solutions
Net sales:
Net sales	104,354	104,373
Operating Segments \| Business Solutions
Net sales:
Net sales	252,932	263,278
Operating income (loss):
Operating income (loss)	8,765	9,482
Depreciation and amortization:
Depreciation and amortization	150	174
Total assets:
Total assets	280,889	255,230
Operating Segments \| Enterprise Solutions
Net sales:
Net sales	275,635	257,244
Operating income (loss):
Operating income (loss)	15,473	12,678
Depreciation and amortization:
Depreciation and amortization	639	482
Total assets:
Total assets	484,497	406,303
Operating Segments \| Public Sector Solutions
Net sales:
Net sales	104,354	104,373
Operating income (loss):
Operating income (loss)	(3,066)	(3,125)
Depreciation and amortization:
Depreciation and amortization	21	34
Total assets:
Total assets	55,536	52,709
Headquarters/Other
Operating income (loss):
Operating income (loss)	(3,763)	(3,563)
Depreciation and amortization:
Depreciation and amortization	2,899	2,610
Total assets:
Assets net of intercompany balance eliminations	7,527	(10,672)
Intersegment Elimination
Total assets:
Total assets	$ (11,201)	$ (10,431)

BANK CREDIT FACILITY (Detail) - USD ($) $ in Thousands	3 Months Ended
BANK CREDIT FACILITY (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018
Subordinated Borrowing
Line of credit, borrowing capacity	$ 50,000
Credit facility, expiration date	Feb. 10, 2022
Line of credit, maximum borrowing capacity	$ 80,000
Debt instrument, description of variable rate basis	One-month LIBOR
Line of credit, outstanding borrowing	$ 0	$ 0
Line of credit, available for borrowing	$ 50,000	$ 50,000
Maximum
Subordinated Borrowing
Debt ratio	2.0
Prime Rate
Subordinated Borrowing
Debt instrument, interest rate	5.50%
One-month LIBOR rate
Subordinated Borrowing
Debt instrument, interest rate	2.49%

COMMITMENTS AND CONTINGENCIES	3 Months Ended
COMMITMENTS AND CONTINGENCIES	Mar. 31, 2019
Commitments and Contingencies
Commitments And Contingencies	Note 5–Commitments and Contingencies We are subject to various legal proceedings and claims, including patent infringement claims, which have arisen during the ordinary course of business. In the opinion of management, the outcome of such matters is not expected to have a material effect on our financial position, results of operations, and/or cash flows. We are subject to audits by states on sales and income taxes, employment matters, and other assessments. Additional liabilities for these and other audits could be assessed, and such outcomes could have a material, negative impact on our financial position, results of operations, and/or cash flows.

BANK CREDIT FACILITY	3 Months Ended
BANK CREDIT FACILITY	Mar. 31, 2019
Bank Credit Facility
Bank Credit Facility	Note 6–Bank Credit Facility We have a $50,000 credit facility collateralized by our account receivables that expires February 10, 2022. This facility can be increased, at our option, to $80,000 for permitted acquisitions or other uses authorized by the lender on substantially the same terms. Amounts outstanding under this facility bear interest at the one-month London Interbank Offered Rate (“LIBOR”) (2.49% at March 31, 2019) , plus a spread based on our funded debt ratio, or in the absence of LIBOR, the prime rate (5.50% at March 31, 2019). The credit facility includes various customary financial ratios and operating covenants, including minimum net worth and maximum funded debt ratio requirements, and default acceleration provisions. The credit facility does not include restrictions on future dividend payments. Funded debt ratio is the ratio of average outstanding advances under the credit facility to Adjusted EBITDA (Earnings Before Interest Expense, Taxes, Depreciation, Amortization, and Special Charges). The maximum allowable funded debt ratio under the agreement is 2.0 to 1.0. Decreases in our consolidated Adjusted EBITDA could limit our potential borrowing capacity under the credit facility. We had no outstanding bank borrowings at March 31, 2019 or 2018, and accordingly, the entire $50,000 facility was available for borrowings under the credit facility.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Restructuring and Other Charges (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Restructuring and other charges
Restructuring and other charges	$ 703	$ 0
Employee separations
Restructuring and other charges
Restructuring and other charges	553
Lease termination costs
Restructuring and other charges
Restructuring and other charges	$ 150

REVENUE - Contract Balances (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Change in contract liability
Beginning balance - Contract liability	$ 2,679
Cash received in advance and not recognized as revenue	4,657
Amounts recognized as revenue as performance obligations satisfied	(2,644)
Ending balance - Contract liability	4,692
Accrued expenses and other liabilities
Contract liabilities
Contract liability	$ 4,692	$ 2,679