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10-Q Filing

ARROW ELECTRONICS, INC. CIK: 7536 Q1 2023
Filing Information
Form Type 10-Q
Accession Number 0001859644-23-000008
Period End Date 20230331
Filing Date 20230504
Fiscal Year 2023
Fiscal Period Q1
XBRL Instance arw-20230401_htm.xml
Balance Sheet 73 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $176.91M USD Point-in-time
Cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $242.79M USD Point-in-time
Cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $205.55M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $12.32B USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $10.66B USD Point-in-time
Inventories InventoryNet $5.53B USD Point-in-time
Inventories InventoryNet $5.32B USD Point-in-time
Other current assets OtherAssetsCurrent $479.65M USD Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare $1.00 USD Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare $1.00 USD Point-in-time
Other current assets OtherAssetsCurrent $521.34M USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 160.00M shares Point-in-time
Total current assets AssetsCurrent $18.34B USD Point-in-time
Total current assets AssetsCurrent $16.87B USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 160.00M shares Point-in-time
Common stock, shares issued CommonStockSharesIssued 125.42M shares Point-in-time
Common stock, shares issued CommonStockSharesIssued 125.42M shares Point-in-time
Land Land $5.69M USD Point-in-time
Land Land $5.69M USD Point-in-time
Treasury stock, shares at cost TreasuryStockShares 68.43M shares Point-in-time
Treasury stock, shares at cost TreasuryStockShares 66.17M shares Point-in-time
Buildings and improvements BuildingsAndImprovementsGross $184.21M USD Point-in-time
Buildings and improvements BuildingsAndImprovementsGross $185.79M USD Point-in-time
Machinery and equipment MachineryAndEquipmentGross $1.58B USD Point-in-time
Machinery and equipment MachineryAndEquipmentGross $1.60B USD Point-in-time
Property, plant, and equipment, gross PropertyPlantAndEquipmentGross $1.77B USD Point-in-time
Property, plant, and equipment, gross PropertyPlantAndEquipmentGross $1.79B USD Point-in-time
Less: Accumulated depreciation and amortization AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $1.18B USD Point-in-time
Less: Accumulated depreciation and amortization AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $1.21B USD Point-in-time
Property, plant, and equipment, net PropertyPlantAndEquipmentNet $596.46M USD Point-in-time
Property, plant, and equipment, net PropertyPlantAndEquipmentNet $579.45M USD Point-in-time
Investments in affiliated companies EquityMethodInvestments $65.11M USD Point-in-time
Investments in affiliated companies EquityMethodInvestments $59.68M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $151.22M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $159.14M USD Point-in-time
Goodwill Goodwill $2.03B USD Point-in-time
Goodwill Goodwill $2.04B USD Point-in-time
Other assets OtherAssetsNoncurrent $583.25M USD Point-in-time
Other assets OtherAssetsNoncurrent $574.51M USD Point-in-time
Total assets Assets $20.28B USD Point-in-time
Total assets Assets $21.76B USD Point-in-time
Accounts payable AccountsPayableCurrent $8.98B USD Point-in-time
Accounts payable AccountsPayableCurrent $10.46B USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $1.27B USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $1.34B USD Point-in-time
Short-term borrowings, including current portion of long-term debt DebtCurrent $144.26M USD Point-in-time
Short-term borrowings, including current portion of long-term debt DebtCurrent $589.88M USD Point-in-time
Total current liabilities LiabilitiesCurrent $10.39B USD Point-in-time
Total current liabilities LiabilitiesCurrent $12.39B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $3.72B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $3.18B USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $579.26M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $567.20M USD Point-in-time
Issued - 125,424 shares in both 2023 and 2022 CommonStockValue $125.42M USD Point-in-time
Issued - 125,424 shares in both 2023 and 2022 CommonStockValue $125.42M USD Point-in-time
Capital in excess of par value AdditionalPaidInCapitalCommonStock $1.21B USD Point-in-time
Capital in excess of par value AdditionalPaidInCapitalCommonStock $1.20B USD Point-in-time
Treasury stock (68,426 and 66,175 shares in 2023 and 2022, respectively), at cost TreasuryStockValue $4.93B USD Point-in-time
Treasury stock (68,426 and 66,175 shares in 2023 and 2022, respectively), at cost TreasuryStockValue $4.64B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $9.49B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $9.21B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-361.47M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-365.26M USD Point-in-time
Total shareholders equity StockholdersEquity $5.55B USD Point-in-time
Total shareholders equity StockholdersEquity $5.53B USD Point-in-time
Noncontrolling interests MinorityInterest $69.65M USD Point-in-time
Noncontrolling interests MinorityInterest $65.00M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $5.43B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $5.60B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $5.34B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $5.61B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $21.76B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $20.28B USD Point-in-time
Income Statement 42 line items
Line Item Tag Value Unit Period
Sales Revenues $9.07B USD 1 Quarter
Sales Revenues $8.74B USD 1 Quarter
Cost of sales CostOfRevenue $7.87B USD 1 Quarter
Cost of sales CostOfRevenue $7.62B USD 1 Quarter
Gross profit GrossProfit $1.21B USD 1 Quarter
Gross profit GrossProfit $1.11B USD 1 Quarter
Selling, general, and administrative expenses SellingGeneralAndAdministrativeExpense $643.92M USD 1 Quarter
Selling, general, and administrative expenses SellingGeneralAndAdministrativeExpense $642.43M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $48.30M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $46.68M USD 1 Quarter
Restructuring, integration, and other charges RestructuringAndRelatedCostIncurredCost $4.90M USD 1 Quarter
Restructuring, integration, and other charges RestructuringAndRelatedCostIncurredCost $2.56M USD 1 Quarter
Total operating expenses CostsAndExpenses $697.13M USD 1 Quarter
Total operating expenses CostsAndExpenses $691.67M USD 1 Quarter
Operating income OperatingIncomeLoss $422.15M USD 1 Quarter
Operating income OperatingIncomeLoss $510.38M USD 1 Quarter
Equity in earnings (losses) of affiliated companies IncomeLossFromEquityMethodInvestments $843.00K USD 1 Quarter
Equity in earnings (losses) of affiliated companies IncomeLossFromEquityMethodInvestments $-80.00K USD 1 Quarter
Gain on investments, net GainLossOnInvestments $10.31M USD 1 Quarter
Gain on investments, net GainLossOnInvestments $2.01M USD 1 Quarter
Employee benefit plan expense, net NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent $853.00K USD 1 Quarter
Employee benefit plan expense, net NetPeriodicDefinedBenefitsExpenseReversalOfExpenseExcludingServiceCostComponent $889.00K USD 1 Quarter
Interest and other financing expense, net InterestIncomeExpenseNet $-33.98M USD 1 Quarter
Interest and other financing expense, net InterestIncomeExpenseNet $-79.66M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $478.36M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $351.87M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $112.36M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $76.55M USD 1 Quarter
Consolidated net income ProfitLoss $275.32M USD 1 Quarter
Consolidated net income ProfitLoss $366.00M USD 1 Quarter
Noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $1.57M USD 1 Quarter
Noncontrolling interests NetIncomeLossAttributableToNoncontrollingInterest $1.25M USD 1 Quarter
Net income attributable to shareholders NetIncomeLoss $364.75M USD 1 Quarter
Net income attributable to shareholders NetIncomeLoss $273.75M USD 1 Quarter
Basic EarningsPerShareBasic $5.38 USD 1 Quarter
Basic EarningsPerShareBasic $4.66 USD 1 Quarter
Diluted EarningsPerShareDiluted $5.31 USD 1 Quarter
Diluted EarningsPerShareDiluted $4.60 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 67.84M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 58.73M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 59.48M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 68.75M shares 1 Quarter
Cash Flow Statement 59 line items
Line Item Tag Value Unit Period
Consolidated net income ProfitLoss $275.32M USD 1 Quarter
Consolidated net income ProfitLoss $366.00M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $48.30M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $46.68M USD 1 Quarter
Amortization of stock-based compensation ShareBasedCompensation $17.35M USD 1 Quarter
Amortization of stock-based compensation ShareBasedCompensation $19.50M USD 1 Quarter
Equity in (earnings) losses of affiliated companies IncomeLossFromEquityMethodInvestments $843.00K USD 1 Quarter
Equity in (earnings) losses of affiliated companies IncomeLossFromEquityMethodInvestments $-80.00K USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $1.35M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-7.53M USD 1 Quarter
Gain on investments, net UnrealizedGainLossOnInvestments $2.01M USD 1 Quarter
Gain on investments, net UnrealizedGainLossOnInvestments $10.31M USD 1 Quarter
Other OtherNoncashIncomeExpense $-1.32M USD 1 Quarter
Other OtherNoncashIncomeExpense $-686.00K USD 1 Quarter
Accounts receivable, net IncreaseDecreaseInAccountsReceivable $-1.70B USD 1 Quarter
Accounts receivable, net IncreaseDecreaseInAccountsReceivable $-430.71M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $199.52M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $460.90M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-1.50B USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-477.82M USD 1 Quarter
Accrued expenses IncreaseDecreaseInAccruedLiabilities $-132.32M USD 1 Quarter
Accrued expenses IncreaseDecreaseInAccruedLiabilities $-43.64M USD 1 Quarter
Other assets and liabilities IncreaseDecreaseInOtherOperatingCapitalNet $79.43M USD 1 Quarter
Other assets and liabilities IncreaseDecreaseInOtherOperatingCapitalNet $-33.39M USD 1 Quarter
Net cash provided by (used for) operating activities NetCashProvidedByUsedInOperatingActivities $223.80M USD 1 Quarter
Net cash provided by (used for) operating activities NetCashProvidedByUsedInOperatingActivities $-200.25M USD 1 Quarter
Acquisition of property, plant, and equipment PaymentsToAcquirePropertyPlantAndEquipment $19.27M USD 1 Quarter
Acquisition of property, plant, and equipment PaymentsToAcquirePropertyPlantAndEquipment $20.11M USD 1 Quarter
Proceeds from collections of notes receivable ProceedsFromCollectionOfNotesReceivable $20.17M USD 1 Quarter
Proceeds from collections of notes receivable ProceedsFromCollectionOfNotesReceivable $142.00K USD 1 Quarter
Proceeds from settlement of net investment hedge ProceedsFromHedgeInvestingActivities $10.72M USD 1 Quarter
Proceeds from settlement of net investment hedge ProceedsFromHedgeInvestingActivities - USD 1 Quarter
Net cash provided by (used for) investing activities NetCashProvidedByUsedInInvestingActivities $-9.25M USD 1 Quarter
Net cash provided by (used for) investing activities NetCashProvidedByUsedInInvestingActivities $899.00K USD 1 Quarter
Change in short-term and other borrowings ProceedsFromRepaymentOfShortTermDebt $-146.05M USD 1 Quarter
Change in short-term and other borrowings ProceedsFromRepaymentOfShortTermDebt $-14.29M USD 1 Quarter
Proceeds from long-term bank borrowings, net ProceedsFromRepaymentsOfDebt $34.36M USD 1 Quarter
Proceeds from long-term bank borrowings, net ProceedsFromRepaymentsOfDebt $845.00M USD 1 Quarter
Net proceeds from note offering ProceedsFromRepaymentsOfNotesPayable - USD 1 Quarter
Net proceeds from note offering ProceedsFromRepaymentsOfNotesPayable $498.60M USD 1 Quarter
Redemption of notes PaymentsForLongTermDebt $350.00M USD 1 Quarter
Redemption of notes PaymentsForLongTermDebt $300.00M USD 1 Quarter
Proceeds from exercise of stock options ProceedsFromStockOptionsExercised $5.93M USD 1 Quarter
Proceeds from exercise of stock options ProceedsFromStockOptionsExercised $11.30M USD 1 Quarter
Repurchases of common stock PaymentsForRepurchaseOfCommonStock $264.43M USD 1 Quarter
Repurchases of common stock PaymentsForRepurchaseOfCommonStock $303.80M USD 1 Quarter
Net cash provided by (used for) financing activities NetCashProvidedByUsedInFinancingActivities $227.58M USD 1 Quarter
Net cash provided by (used for) financing activities NetCashProvidedByUsedInFinancingActivities $-210.96M USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-7.63M USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $25.04M USD 1 Quarter
Net increase in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $20.60M USD 1 Quarter
Net increase in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $28.64M USD 1 Quarter
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $222.19M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $176.91M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $176.91M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $242.79M USD Point-in-time
Cash and cash equivalents at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $205.55M USD Point-in-time
Cash and Cash Equivalents, at Carrying Value, Ending Balance CashAndCashEquivalentsAtCarryingValue $222.19M USD Point-in-time
Cash and Cash Equivalents, at Carrying Value, Ending Balance CashAndCashEquivalentsAtCarryingValue $176.91M USD Point-in-time
Stockholders Equity 18 line items
Line Item Tag Value Unit Period
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $5.43B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $5.60B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $5.34B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $5.61B USD Point-in-time
Consolidated net income ProfitLoss $275.32M USD 1 Quarter
Consolidated net income ProfitLoss $366.00M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTax $6.87M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTax $-42.18M USD 1 Quarter
Amortization of stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $19.50M USD 1 Quarter
Amortization of stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $17.35M USD 1 Quarter
Shares issued for stock-based compensation awards StockGrantedDuringPeriodValueSharebasedCompensationGross $11.30M USD 1 Quarter
Shares issued for stock-based compensation awards StockGrantedDuringPeriodValueSharebasedCompensationGross $5.93M USD 1 Quarter
Repurchases of common stock StockRepurchasedDuringPeriodValue $264.43M USD 1 Quarter
Repurchases of common stock StockRepurchasedDuringPeriodValue $318.80M USD 1 Quarter
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $5.43B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $5.60B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $5.34B USD Point-in-time
Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $5.61B USD Point-in-time
Comprehensive Income 18 line items
Line Item Tag Value Unit Period
Consolidated net income ProfitLoss $275.32M USD 1 Quarter
Consolidated net income ProfitLoss $366.00M USD 1 Quarter
Foreign currency translation adjustment and other, net of taxes OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-49.91M USD 1 Quarter
Foreign currency translation adjustment and other, net of taxes OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $11.29M USD 1 Quarter
Unrealized loss on foreign exchange contracts designated as net investment hedges, net of taxes TranslationAdjustmentForNetInvestmentHedgeNetOfTaxPeriodIncreaseDecrease $-433.00K USD 1 Quarter
Unrealized loss on foreign exchange contracts designated as net investment hedges, net of taxes TranslationAdjustmentForNetInvestmentHedgeNetOfTaxPeriodIncreaseDecrease $-575.00K USD 1 Quarter
Unrealized gain (loss) on interest rate swaps designated as cash flow hedges, net of taxes OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax $-3.71M USD 1 Quarter
Unrealized gain (loss) on interest rate swaps designated as cash flow hedges, net of taxes OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax $8.21M USD 1 Quarter
Employee benefit plan items, net of taxes OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $272.00K USD 1 Quarter
Employee benefit plan items, net of taxes OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-99.00K USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $6.87M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-42.18M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $282.20M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $323.81M USD 1 Quarter
Less: Comprehensive income attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $378.00K USD 1 Quarter
Less: Comprehensive income attributable to noncontrolling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $4.65M USD 1 Quarter
Comprehensive income attributable to shareholders ComprehensiveIncomeNetOfTax $277.54M USD 1 Quarter
Comprehensive income attributable to shareholders ComprehensiveIncomeNetOfTax $323.44M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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