ARROW ELECTRONICS, INC., 10-Q filed on 7/31/2025
Quarterly Report
v3.25.2
Document and Entity Information - shares
 6 Months Ended
Jun. 28, 2025
Jul. 24, 2025
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Jun. 28, 2025  
Document Transition Report false  
Entity File Number 1-4482  
Entity Registrant Name ARROW ELECTRONICS, INC.  
Entity Incorporation, State or Country Code NY  
Entity Tax Identification Number 11-1806155  
Entity Address, Address Line One 9151 East Panorama Circle  
Entity Address, City or Town Centennial  
Entity Address, State or Province CO  
Entity Address, Postal Zip Code 80112  
City Area Code 303  
Local Phone Number 824-4000  
Title of 12(b) Security Common Stock, $1 par value  
Trading Symbol ARW  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   51,501,705
Entity Central Index Key 0000007536  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2025  
Document Fiscal Period Focus Q2  
Amendment Flag false  
v3.25.2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Jun. 28, 2025
Jun. 29, 2024
CONSOLIDATED STATEMENTS OF OPERATIONS        
Sales $ 7,579,947 $ 6,892,868 $ 14,393,964 $ 13,817,128
Cost of sales 6,731,290 6,046,424 12,771,315 12,112,858
Gross profit 848,657 846,444 1,622,649 1,704,270
Operating expenses:        
Selling, general, and administrative 600,990 552,595 1,163,306 1,135,921
Depreciation and amortization 35,162 41,037 70,972 82,764
Restructuring, integration, and other 21,919 40,537 39,232 87,393
Total operating expenses 658,071 634,169 1,273,510 1,306,078
Operating income 190,586 212,275 349,139 398,192
Equity in (losses) earnings of affiliated companies (659) 1,254 661 910
Gain (loss) on investments, net 103,976 (4,615) 104,116 (4,517)
Loss on extinguishment of debt 0 (1,657) 0 (1,657)
Post-retirement expense (664) (980) (1,286) (1,913)
Interest and other financing expense, net (60,283) (66,891) (116,465) (146,495)
Income before income taxes 232,956 139,386 336,165 244,520
Provision for income taxes 45,934 29,762 69,279 51,798
Consolidated net income 187,022 109,624 266,886 192,722
Noncontrolling interests (727) 926 (583) 423
Net income attributable to shareholders $ 187,749 $ 108,698 $ 267,469 $ 192,299
Net income per share:        
Basic (in dollars per share) $ 3.62 $ 2.03 $ 5.14 $ 3.56
Diluted (in dollars per share) $ 3.59 $ 2.01 $ 5.09 $ 3.53
Weighted-average shares outstanding:        
Basic (in shares) 51,856 53,640 52,057 53,944
Diluted (in shares) 52,342 54,181 52,504 54,496
v3.25.2
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Jun. 28, 2025
Jun. 29, 2024
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME        
Consolidated net income $ 187,022 $ 109,624 $ 266,886 $ 192,722
Other comprehensive income (loss):        
Foreign currency translation adjustment and other, net of taxes 268,554 (24,416) 401,262 (123,691)
(Loss) gain on foreign exchange contracts designated as net investment hedges, net of taxes (6,204) 1,378 (12,156) 4,976
(Loss) gain on interest rate swaps designated as cash flow hedges, net of taxes (424) (226) (843) 303
Post-retirement expense items, net of taxes (347) (502) (709) (593)
Other comprehensive income (loss) 261,579 (23,766) 387,554 (119,005)
Comprehensive income 448,601 85,858 654,440 73,717
Less: Comprehensive income (loss) attributable to noncontrolling interests 2,920 696 4,955 (955)
Comprehensive income attributable to shareholders $ 445,681 $ 85,162 $ 649,485 $ 74,672
v3.25.2
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 28, 2025
Dec. 31, 2024
ASSETS    
Cash and cash equivalents $ 221,970 $ 188,807
Accounts receivable, net 15,271,349 13,030,991
Inventories 4,749,431 4,709,706
Other current assets 603,670 471,909
Total current assets 20,846,420 18,401,413
Property, plant, and equipment, at cost:    
Land 5,691 5,691
Buildings and improvements 196,556 194,061
Machinery and equipment 1,691,823 1,623,228
Property, plant, and equipment, gross 1,894,070 1,822,980
Less: Accumulated depreciation and amortization (1,419,472) (1,353,720)
Property, plant, and equipment, net 474,598 469,260
Investments in affiliated companies 57,766 57,299
Intangible assets, net 86,552 96,706
Goodwill 2,123,994 2,055,295
Other assets 663,248 677,734
Total assets 24,252,578 21,757,707
LIABILITIES AND EQUITY    
Accounts payable 13,213,323 11,047,470
Accrued expenses 1,309,323 1,238,714
Short-term borrowings, including current portion of long-term debt 455,612 349,978
Total current liabilities 14,978,258 12,636,162
Long-term debt 2,365,812 2,773,783
Other liabilities 499,434 516,234
Contingencies (Note L)
Equity:    
Common stock, par value $1: Authorized - 160,000 shares in both 2025 and 2024 Issued - 55,815 and 55,592 shares in 2025 and 2024, respectively 55,815 55,592
Capital in excess of par value 589,480 562,080
Treasury stock (4,314 and 3,420 shares in 2025 and 2024, respectively), at cost (432,447) (328,078)
Retained earnings 6,248,295 5,980,826
Accumulated other comprehensive loss (127,253) (509,269)
Total shareholders' equity 6,333,890 5,761,151
Noncontrolling interests 75,184 70,377
Total equity 6,409,074 5,831,528
Total liabilities and equity $ 24,252,578 $ 21,757,707
v3.25.2
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares
shares in Thousands
Jun. 28, 2025
Dec. 31, 2024
CONSOLIDATED BALANCE SHEETS    
Common stock, par value $ 1 $ 1
Common stock, shares authorized 160,000 160,000
Common stock, shares issued 55,815 55,592
Treasury stock, shares 4,314 3,420
v3.25.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 28, 2025
Jun. 28, 2025
Jun. 29, 2024
Cash flows from operating activities:      
Consolidated net income $ 187,022 $ 266,886 $ 192,722
Adjustments to reconcile consolidated net income to net cash provided by operations:      
Depreciation and amortization 35,162 70,972 82,764
Amortization of stock-based compensation   30,200 21,700
Equity in earnings of affiliated companies 659 (661) (910)
Deferred income taxes   5,251 (7,398)
Loss on extinguishment of debt 0 0 1,657
(Gain) loss on investments, net   (103,895) 4,652
Other   (302) 4,975
Change in assets and liabilities, net of effects of acquired businesses:      
Accounts receivable, net   (1,896,481) 1,213,562
Inventories   46,449 493,474
Accounts payable   1,949,919 (1,237,812)
Accrued expenses   (81,710) 273,043
Other assets and liabilities   (140,845) (319,038)
Net cash provided by operating activities   145,783 723,391
Cash flows from investing activities:      
Acquisition of property, plant, and equipment   (43,597) (51,636)
Proceeds from settlement of net investment hedges 24,900 24,858 0
Proceeds from sale of investments in equity securities 100,000 100,000 0
Other   0 6,452
Net cash provided by (used for) investing activities   81,261 (45,184)
Cash flows from financing activities:      
Change in short-term and other borrowings   454,803 (1,144,520)
(Repayments of) proceeds from long-term bank borrowings, net   (413,657) 673,607
Redemption of notes   (350,000) (500,000)
Net proceeds from note offering   0 494,678
Proceeds from exercise of stock options   3,203 4,768
Repurchases of common stock   (110,149) (163,301)
Other   (148) (141)
Net cash used for financing activities   (415,948) (634,909)
Effect of exchange rate changes on cash   222,067 (48,342)
Net increase (decrease) in cash and cash equivalents   33,163 (5,044)
Cash and cash equivalents at beginning of period   188,807 218,053
Cash and cash equivalents at end of period $ 221,970 $ 221,970 $ 213,009
v3.25.2
CONSOLIDATED STATEMENTS OF EQUITY - USD ($)
$ in Thousands
Common Stock at Par Value
Capital in Excess of Par Value
Treasury Stock
Retained Earnings
Accumulated Other Comprehensive Loss
Noncontrolling Interests
Total
Balance at Dec. 31, 2023 $ 57,691 $ 553,340 $ (297,745) $ 5,790,217 $ (298,039) $ 71,843 $ 5,877,307
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Consolidated net income (loss) 0 0 0 83,601 0 (503) 83,098
Other comprehensive income (loss) 0 0 0 0 (94,091) (1,148) (95,239)
Amortization of stock-based compensation 0 13,447 0 0 0 0 13,447
Shares issued for stock-based compensation awards 264 (1,621) 4,286 0 0 0 2,929
Repurchases of common stock 0 0 (112,204) 0 0 0 (112,204)
Balance at Mar. 30, 2024 57,955 565,166 (405,663) 5,873,818 (392,130) 70,192 5,769,338
Balance at Dec. 31, 2023 57,691 553,340 (297,745) 5,790,217 (298,039) 71,843 5,877,307
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Consolidated net income (loss)             192,722
Other comprehensive income (loss)             (119,005)
Balance at Jun. 29, 2024 58,046 574,530 (456,123) 5,982,516 (415,666) 70,747 5,814,050
Balance at Mar. 30, 2024 57,955 565,166 (405,663) 5,873,818 (392,130) 70,192 5,769,338
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Consolidated net income (loss) 0 0 0 108,698 0 926 109,624
Other comprehensive income (loss) 0 0 0 0 (23,536) (230) (23,766)
Amortization of stock-based compensation 0 8,253 0 0 0 0 8,253
Shares issued for stock-based compensation awards 91 1,111 637 0 0 0 1,839
Repurchases of common stock 0 0 (51,097) 0 0 0 (51,097)
Distributions 0 0 0 0 0 (141) (141)
Balance at Jun. 29, 2024 58,046 574,530 (456,123) 5,982,516 (415,666) 70,747 5,814,050
Balance at Dec. 31, 2024 55,592 562,080 (328,078) 5,980,826 (509,269) 70,377 5,831,528
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Consolidated net income (loss) 0 0 0 79,720 0 144 79,864
Other comprehensive income (loss) 0 0 0 0 124,084 1,891 125,975
Amortization of stock-based compensation 0 18,559 0 0 0 0 18,559
Shares issued for stock-based compensation awards 195 (2,849) 3,558 0 0 0 904
Repurchases of common stock 0 0 (59,413) 0 0 0 (59,413)
Balance at Mar. 29, 2025 55,787 577,790 (383,933) 6,060,546 (385,185) 72,412 5,997,417
Balance at Dec. 31, 2024 55,592 562,080 (328,078) 5,980,826 (509,269) 70,377 5,831,528
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Consolidated net income (loss)             266,886
Other comprehensive income (loss)             387,554
Balance at Jun. 28, 2025 55,815 589,480 (432,447) 6,248,295 (127,253) 75,184 6,409,074
Balance at Mar. 29, 2025 55,787 577,790 (383,933) 6,060,546 (385,185) 72,412 5,997,417
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Consolidated net income (loss) 0 0 0 187,749 0 (727) 187,022
Other comprehensive income (loss) 0 0 0 0 257,932 3,647 261,579
Amortization of stock-based compensation 0 11,641 0 0 0 0 11,641
Shares issued for stock-based compensation awards 28 49 2,222 0 0 0 2,299
Repurchases of common stock 0 0 (50,736) 0 0 0 (50,736)
Distributions 0 0 0 0 0 (148) (148)
Balance at Jun. 28, 2025 $ 55,815 $ 589,480 $ (432,447) $ 6,248,295 $ (127,253) $ 75,184 $ 6,409,074
v3.25.2
Basis of Presentation
 6 Months Ended
Jun. 28, 2025
Basis of Presentation  
Basis of Presentation

Note A – Basis of Presentation

The accompanying consolidated financial statements of Arrow Electronics, Inc. (the “company”) were prepared in accordance with GAAP and reflect all adjustments of a normal recurring nature, which are, in the opinion of management, necessary for a fair presentation of the consolidated financial position and results of operations at, and for the periods presented. The consolidated results of operations for the interim periods are not necessarily indicative of results for the full year.

These consolidated financial statements do not include all of the information or notes necessary for a complete presentation and, accordingly, should be read in conjunction with the company’s audited consolidated financial statements and accompanying notes for the year ended December 31, 2024, as filed in the company’s Annual Report on Form 10-K.

Quarter End

The company operates on a quarterly calendar that closes on the Saturday closest to the end of the calendar quarter, except for the fourth quarter, which closes on December 31, 2025.

Reclassification

Certain prior period amounts were reclassified to conform to the current period presentation. These reclassifications did not have a material impact on previously reported amounts.
v3.25.2
Impact of Recently Issued Accounting Standards
 6 Months Ended
Jun. 28, 2025
Impact of Recently Issued Accounting Standards  
Impact of Recently Issued Accounting Standards

Note B – Impact of Recently Issued Accounting Standards

In November 2024, the FASB issued ASU No. 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. This ASU requires entities to disaggregate expense items in the notes to the financial statements and requires disclosure of specified information related to purchases of inventory, employee compensation, depreciation, and intangible asset amortization. The amendments in this ASU are effective for annual periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027. Companies have the option to apply the guidance either on a retrospective or prospective basis, and early adoption is permitted. The company is currently evaluating the impact of the ASU on its condensed consolidated financial statements and related disclosures. In January 2025, the FASB issued ASU No. 2025-01, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date. This ASU amends the effective date of ASU No. 2024-03 to clarify that all public business entities are required to adopt the guidance in annual reporting periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027. Early adoption of ASU No. 2024-03 is permitted. The company does not currently anticipate adopting these amendments early.

In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. Upon adoption of this ASU, the company will disclose specific new categories in its income tax rate reconciliation and provide additional information for reconciling items above a quantitative threshold. The company will also disclose the amount of income taxes paid disaggregated by federal, state, and foreign taxes, and also disaggregated by individual jurisdictions in which income taxes paid were above a threshold. The company expects these amendments will first be applied in the company’s annual report on Form 10-K for the fiscal year ending December 31, 2025, on a prospective basis.
v3.25.2
Goodwill and Intangible Assets
 6 Months Ended
Jun. 28, 2025
Goodwill and Intangible Assets  
Goodwill and Intangible Assets

Note C – Goodwill and Intangible Assets

Goodwill represents the excess of the cost of an acquisition over the fair value of the net assets acquired. The company tests goodwill and other indefinite-lived intangible assets for impairment annually as of the first day of the fourth quarter, or more frequently if indicators of potential impairment exist.

Goodwill of companies acquired, allocated to the company’s reportable segments, is as follows:

​

​

​

​

​

​

​

​

​

​

​

​

    

Global 

    

​

    

​

(thousands)

​

Components

​

Global ECS

​

Total

Balance as of December 31, 2024 (a)

​

$

902,445

​

$

1,152,850

​

$

2,055,295

Foreign currency translation adjustment

​

 

17,189

​

 

51,510

​

 

68,699

Balance as of June 28, 2025 (a)

​

$

919,634

​

$

1,204,360

​

$

2,123,994

(a)The total carrying value of goodwill as of June 28, 2025 and December 31, 2024, in the table above is reflected net of $1.6 billion of accumulated impairment charges, of which $1.3 billion was recorded in the global components reportable segment and $301.9 million was recorded in the global ECS reportable segment.

Intangible assets, net, are comprised of the following as of June 28, 2025:

​

​

​

​

​

​

​

​

​

​

​

    

Gross 

    

​

    

​

​

​

Carrying 

​

Accumulated 

​

​

(thousands)

​

Amount

​

Amortization

​

Net

Customer relationships

​

$

192,715

​

$

(118,891)

​

$

73,824

Amortizable trade name

​

 

74,001

​

 

(61,273)

​

 

12,728

​

​

$

266,716

​

$

(180,164)

​

$

86,552

​

Intangible assets, net, are comprised of the following as of December 31, 2024:

​

​

​

​

​

​

​

​

​

​

​

    

Gross 

    

​

    

​

​

​

Carrying 

​

Accumulated 

​

​

(thousands)

​

Amount

​

Amortization

​

Net

Customer relationships

​

$

215,366

​

$

(133,927)

​

$

81,439

Amortizable trade name

​

 

74,001

​

 

(58,734)

​

 

15,267

​

​

$

289,367

​

$

(192,661)

​

$

96,706

​

During the second quarter of 2025 and 2024, the company recorded amortization expense related to identifiable intangible assets of $4.9 million and $7.5 million, respectively. During the first six months of 2025 and 2024, amortization expense related to identifiable intangible assets was $10.2 million and $15.0 million, respectively.
v3.25.2
Investments in Affiliated Companies
 6 Months Ended
Jun. 28, 2025
Investments in Affiliated Companies  
Investments in Affiliated Companies

Note D – Investments in Affiliated Companies

The company owns a 50% interest in two joint ventures with Marubun Corporation (collectively “Marubun/Arrow”) and a 50% interest in one other joint venture. These investments are accounted for using the equity method.

The following table presents the company’s investment in affiliated companies:

​

​

​

​

​

​

​

​

June 28,

    

December 31,

(thousands)

2025

​

2024

Marubun/Arrow

$

43,300

​

$

43,851

Other

 

14,466

​

 

13,448

​

$

57,766

​

$

57,299

​

The equity in (losses) earnings of affiliated companies consists of the following:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Quarter Ended

​

Six Months Ended

​

​

June 28,

​

June 29,

​

June 28,

​

June 29,

(thousands)

    

2025

    

2024

    

2025

    

2024

Marubun/Arrow

​

$

(843)

​

$

620

​

$

65

​

$

86

Other

​

 

184

​

 

634

​

​

596

 

​

824

​

​

$

(659)

​

$

1,254

​

$

661

​

$

910

​

Under the terms of various joint venture agreements, the company is required to pay its pro-rata share of the third-party debt of the joint ventures in the event that the joint ventures are unable to meet their obligations. There were no outstanding borrowings under the third-party debt agreements of the joint ventures as of June 28, 2025 and December 31, 2024.

In the second quarter of 2025, the company sold an investment in certain equity securities for $100.0 million and recorded a gain on investments of $99.0 million. This investment was previously accounted for as equity securities without a readily determinable fair value.
v3.25.2
Accounts Receivable
 6 Months Ended
Jun. 28, 2025
Accounts Receivable  
Accounts Receivable

Note E – Accounts Receivable

Accounts receivable, net, consists of the following:

​

​

​

​

​

​

​

​

​

​

June 28,

​

December 31,

(thousands)

    

2025

    

2024

Accounts receivable

​

$

15,393,487

​

$

13,147,436

Allowance for credit losses

​

 

(122,138)

​

 

(116,445)

Accounts receivable, net

​

$

15,271,349

​

$

13,030,991

​

The following table is a rollforward for the company’s allowance for credit losses:

​

​

​

​

​

​

​

​

​

​

Six Months Ended

​

​

June 28,

​

June 29,

(thousands)

    

2025

    

2024

Balance at beginning of period

​

$

116,445

​

$

146,480

Charged to income

​

 

8,737

​

 

(12,204)

Translation adjustments

​

 

4,362

​

 

(1,331)

Write-offs

​

 

(7,406)

​

 

(15,013)

Balance at end of period

​

$

122,138

​

$

117,932

​

The company monitors the current credit condition of its customers in estimating the expected credit losses and has not experienced significant changes in customers’ payment trends or significant deterioration in customers’ credit risk as of June 28, 2025. For the six months ended June 29, 2024, the net benefit recorded to income of $12.2 million includes a $20.0 million reversal of an allowance previously recorded in the ECS reportable segment for aged receivables that were collected during the second quarter of 2024.

​

EMEA Asset Securitization

The company has an EMEA asset securitization program under which it continuously sells its interest in designated pools of trade accounts receivable of certain of its subsidiaries in the EMEA region at a discount to a special purpose entity, which in turn sells certain of the receivables to unaffiliated financial institutions and conduits administered by such unaffiliated financial institutions (“unaffiliated financial institutions”) on a monthly basis. The company may sell up to €600.0 million under the EMEA asset securitization program, which matures in December 2027, subject to extension in accordance with its terms. The program is conducted through Arrow EMEA Funding Corp B.V., an entity structured to be bankruptcy remote. The company is deemed the primary beneficiary of Arrow EMEA Funding Corp B.V. as the company has both the power to direct the activities that most significantly impact the entity’s economic performance and the obligation to absorb losses or the right to receive the benefits that could potentially be significant to the entity from the transfer of the trade accounts receivable into the special purpose entity. Accordingly, Arrow EMEA Funding Corp B.V. is included in the company’s consolidated financial statements.

Sales of accounts receivable to unaffiliated financial institutions under the EMEA asset securitization program:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Quarter Ended

​

Six Months Ended

​

​

June 28,

​

June 29,

​

June 28,

​

June 29,

(thousands)

    

2025

    

2024

    

2025

    

2024

EMEA asset securitization, sales of accounts receivable

​

$

416,150

​

$

477,779

​

$

788,791

​

$

1,017,659

​

Receivables sold to unaffiliated financial institutions under the program are excluded from “Accounts receivable, net” on the company’s consolidated balance sheets, and cash receipts are reflected in the “Cash provided by operating activities” section of the consolidated statements of cash flows. The purchase price is paid in cash when the receivables are sold. Certain unsold receivables held by Arrow EMEA Funding Corp B.V. are pledged as collateral to unaffiliated financial institutions. These unsold receivables are included in “Accounts receivable, net” on the company’s consolidated balance sheets.

The company continues servicing the receivables which were sold and in exchange receives a servicing fee under the program. The company does not record a servicing asset or liability on the company’s consolidated balance sheets as the company estimates that the fee it receives to service these receivables approximates the fair market compensation to provide the servicing activities.

Other amounts related to the EMEA asset securitization program are set forth below:

​

​

​

​

​

​

​

​

​

​

June 28,

​

December 31,

(thousands)

    

2025

    

2024

Receivables sold to unaffiliated financial institutions that were uncollected

​

$

348,698

​

$

339,669

Collateralized accounts receivable held by Arrow EMEA Funding Corp B.V.

​

 

618,794

​

 

528,975

​

Any accounts receivable held by Arrow EMEA Funding Corp B.V. would likely not be available to other creditors of the company in the event of bankruptcy or insolvency proceedings if there are outstanding balances under the EMEA asset securitization program. The assets of the special purpose entity cannot be used by the company for general corporate purposes. Additionally, the financial obligations of Arrow EMEA Funding Corp B.V. to the unaffiliated financial institutions under the program are limited to the assets it owns and there is no recourse to Arrow Electronics, Inc. for receivables that are uncollectible as a result of an account debtor’s insolvency or inability to pay.

The EMEA asset securitization program includes terms and conditions that limit the incurrence of additional borrowings and require that certain financial ratios be maintained at designated levels. As of June 28, 2025, the company was in compliance with all such financial covenants.

​

Factoring

​

In the normal course of business, certain of the company’s subsidiaries have factoring agreements to sell, with limited or no recourse, selected trade accounts receivable to financial institutions and accounts for these transactions as sales of the related receivables. The receivables are excluded from “Accounts receivable, net” on the company’s consolidated balance sheets and cash receipts are reflected as “Cash provided by operating activities” on the consolidated statements of cash flows. The company typically does not retain financial or legal interests in these receivables. Factoring fees for the sales of accounts receivables are included in “Interest and other financing expense, net” in the consolidated statements of operations. The company continues servicing the receivables which were sold.

Sales of trade accounts receivable under the company’s factoring programs:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Quarter Ended

​

Six Months Ended

​

​

June 28,

​

June 29,

​

June 28,

​

June 29,

(thousands)

    

2025

    

2024

    

2025

    

2024

Sales of accounts receivable under the factoring programs

​

$

389,614

​

$

239,631

​

$

552,365

​

$

447,921

​

Other amounts under the company’s factoring programs:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

June 28,

​

December 31,

(thousands)

​

​

​

​

​

​

​

2025

​

2024

Receivables sold under the factoring programs that were uncollected

​

​

​

​

​

​

​

$

320,759

​

$

182,432

​
v3.25.2
Supplier Finance Programs
 6 Months Ended
Jun. 28, 2025
Supplier Finance Programs  
Supplier Finance Programs

Note F – Supplier Finance Programs

At the request of certain of the company’s suppliers, the company has entered into agreements (“supplier finance programs”) with third-party finance providers, which facilitate the participating suppliers’ ability to sell their receivables from the company to the third-party financial institutions, at the sole discretion of the suppliers. For agreeing to participate in these programs, the company seeks to secure improved standard payment terms with its suppliers. The company is not involved in negotiating terms of the arrangements between its suppliers and the financial institutions and has no economic interest in a supplier’s decision to enter into these agreements or sell receivables from the company. The company’s rights and obligations to its suppliers, including amounts due, are not impacted by suppliers’ decisions to sell amounts under the arrangements. However, the company agrees to make all payments to the third-party financial institutions, and the company’s right to offset balances due from suppliers against payment obligations is restricted by the agreements for those payment obligations that have been sold by suppliers. As of June 28, 2025, and December 31, 2024, the company had $797.4 million and $1.3 billion, respectively, in obligations outstanding under these programs included in “Accounts payable” on the company’s consolidated balance sheets and all activity related to the obligations is presented within operating activities on the consolidated statements of cash flows.
v3.25.2
Debt
 6 Months Ended
Jun. 28, 2025
Debt  
Debt

Note G – Debt

Short-term borrowings, including current portion of long-term debt, consist of the following:

​

​

​

​

​

​

​

​

​

​

June 28,

​

December 31,

(thousands)

    

2025

    

2024

4.00% notes, due April 2025

​

$

—

​

$

349,808

Commercial paper

​

 

407,368

​

 

—

Other short-term borrowings

​

 

48,244

​

 

170

​

​

$

455,612

​

$

349,978

​

The company has $500.0 million in uncommitted lines of credit. There were no outstanding borrowings under the uncommitted lines of credit at June 28, 2025 and December 31, 2024. The maturity for borrowings is generally short term and is agreed upon with lenders at the time of each borrowing. The uncommitted lines of credit had a weighted-average effective interest rate of 4.82% and 5.18% at June 28, 2025 and December 31, 2024, respectively.

​

The company has a commercial paper program, and the maximum aggregate balance of commercial paper outstanding may not exceed the borrowing capacity of $1.2 billion. Amounts outstanding under the commercial paper program are backstopped by available commitments under the company’s revolving credit facility. The company had $407.4 million in outstanding borrowings under this program at June 28, 2025 and no outstanding borrowings at December 31, 2024. The commercial paper program had an effective interest rate of 4.74% and 5.21% at June 28, 2025 and December 31, 2024, respectively.

Long-term debt consists of the following:

​

​

​

​

​

​

​

​

​

​

June 28,

​

December 31,

(thousands)

    

2025

    

2024

Revolving credit facility

​

$

—

​

$

30,000

North American asset securitization program

​

 

246,000

​

 

633,000

7.50% senior debentures, due 2027

​

 

110,307

​

 

110,266

3.875% notes, due 2028

​

 

498,124

​

 

497,775

5.15% notes, due 2029

​

 

495,669

​

 

495,209

2.95% notes, due 2032

​

 

495,851

​

 

495,576

5.875% notes, due 2034

​

 

495,205

​

 

494,986

Other obligations with various interest rates and due dates

​

 

24,656

​

 

16,971

​

​

$

2,365,812

​

$

2,773,783

​

The 7.50% senior debentures are not redeemable prior to their maturity. All other notes may be called at the option of the company subject to “make whole” clauses.

The estimated fair market value of long-term debt, using quoted market prices, is as follows:

​

​

​

​

​

​

​

​

​

​

June 28,

​

December 31,

(thousands)

    

2025

    

2024

7.50% senior debentures, due 2027

​

$

115,000

​

$

115,000

3.875% notes, due 2028

​

​

490,000

​

​

481,500

5.15% notes, due 2029

​

 

507,500

​

 

498,000

2.95% notes, due 2032

​

 

438,000

​

 

426,000

5.875% notes, due 2034

​

 

514,500

​

 

502,500

​

The carrying amount of the company’s other short-term borrowings, North American asset securitization program, commercial paper, and other obligations approximate their fair value.

The company has a $2.0 billion revolving credit facility that may be used by the company for general corporate purposes including working capital in the ordinary course of business, letters of credit, repayment, prepayment or purchase of long-term indebtedness, acquisitions, and as support for the company’s commercial paper program, as applicable. In June 2025, the company amended its revolving credit facility and, among other things, extended its term to mature in June 2030. Interest on borrowings under the revolving credit facility is calculated using a base rate or SOFR, plus a spread (1.08% at June 28, 2025), which is based on the company’s credit ratings, or a weighted-average effective interest rate of 5.43% at June 28, 2025. The effective interest rate was 5.48% at December 31, 2024. The facility fee, which is based on the company’s credit ratings, was 0.175% of the total borrowing capacity at June 28, 2025. The company had no outstanding borrowings and $30.0 million in outstanding borrowings under the revolving credit facility at June 28, 2025 and December 31, 2024, respectively.

The company has a North American asset securitization program collateralized by accounts receivable of certain of its subsidiaries. The company may borrow up to $1.5 billion under the program which matures in September 2027. The program is conducted through AFC, a wholly-owned, bankruptcy-remote subsidiary. The North American asset securitization program does not qualify for sale treatment. Accordingly, the accounts receivable and related debt obligation remain on the company’s consolidated balance sheets. Interest on borrowings is calculated using a base rate plus a spread (0.40% at June 28, 2025) plus a credit spread adjustment of 0.10% or an effective interest rate of 4.83% at June 28, 2025 and December 31, 2024, respectively. The facility fee is 0.40% of the total borrowing capacity.

The company had $246.0 million and $633.0 million in outstanding borrowings under the North American asset securitization program at June 28, 2025 and December 31, 2024, respectively, which was included in “Long-term debt” on the company’s consolidated balance sheets. Total collateralized accounts receivable of approximately $2.8 billion and $3.0 billion were held by AFC and were included in “Accounts receivable, net” on the company’s consolidated balance sheets at June 28, 2025 and December 31, 2024, respectively. Any accounts receivable held by AFC would likely not be available to other creditors of the company in the event of bankruptcy or insolvency proceedings of the company before repayment of any outstanding borrowings under the North American asset securitization program.

Both the revolving credit facility and North American asset securitization program include terms and conditions that limit the incurrence of additional borrowings and require that certain financial ratios be maintained at designated levels. As of June 28, 2025, the company was in compliance with all such financial covenants.

In the second quarter of 2025, the company repaid in full the $350.0 million principal amount of its 4.00% notes due April 2025.

Interest and dividend income of $8.4 million and $18.5 million for the second quarter and first six months of 2025, respectively, and $14.7 million and $34.2 million for the second quarter and first six months of 2024, respectively, were recorded in “Interest and other financing expense, net” within the company’s consolidated statements of operations.
v3.25.2
Financial Instruments Measured at Fair Value
 6 Months Ended
Jun. 28, 2025
Financial Instruments Measured at Fair Value  
Financial Instruments Measured at Fair Value

Note H – Financial Instruments Measured at Fair Value

Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The company utilizes a fair value hierarchy, which maximizes the use of observable inputs and minimizes the use of unobservable inputs when measuring fair value. The fair value hierarchy has three levels of inputs that may be used to measure fair value:

Level 1

Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.

Level 2

Quoted prices in markets that are not active; or other inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability.

Level 3

Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable.

The following table presents assets measured at fair value on a recurring basis at June 28, 2025:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

(thousands)

    

Balance Sheet Location

    

Level 1

    

Level 2

    

Level 3

    

Total

Cash equivalents (a)

 

Cash and cash equivalents

​

$

15,831

​

$

—

​

$

—

​

$

15,831

Equity investments (b)

 

Other assets

​

 

41,389

​

 

—

​

 

—

​

 

41,389

Foreign exchange contracts designated as net investment hedges

 

Other assets / other current assets

​

 

—

​

 

14,943

​

 

—

​

 

14,943

​

​

​

​

$

57,220

​

$

14,943

​

$

—

​

$

72,163

​

The following table presents assets measured at fair value on a recurring basis at December 31, 2024:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

(thousands)

    

Balance Sheet Location

    

Level 1

    

Level 2

    

Level 3

    

Total

Cash equivalents (a)

 

Cash and cash equivalents

​

$

10,751

​

$

—

​

$

—

​

$

10,751

Equity investments (b)

 

Other assets

​

 

42,907

​

 

—

​

 

—

​

 

42,907

Foreign exchange contracts designated as net investment hedges

 

Other assets / other current assets

​

 

—

​

 

53,679

​

 

—

​

 

53,679

​

​

​

​

$

53,658

​

$

53,679

​

$

—

​

$

107,337

(a)Cash equivalents include highly liquid investments with an original maturity of less than three months.
(b)The company has an approximately 9.0% equity ownership interest in Marubun Corporation and a portfolio of mutual funds with quoted market prices. The company recorded unrealized gains of $0.7 million and $0.5 million for the second quarter and first six months of 2025, respectively, on equity securities held at the end of the quarter. The company recorded unrealized losses of $6.7 million and $10.3 million for the second quarter and first six months of 2024, respectively, on equity securities held at the end of the quarter.

Assets and liabilities that are measured at fair value on a nonrecurring basis relate primarily to goodwill, and identifiable intangible assets (see Note C). The company tests these assets for impairment if indicators of potential impairment exist or at least annually if indefinite-lived.

Derivative Instruments

The company uses various financial instruments, including derivative instruments, for purposes other than trading. Certain derivative instruments are designated at inception as hedges and assessed for effectiveness both at inception and on an ongoing basis. Derivative instruments not designated as hedges are carried at fair value on the consolidated balance sheets with changes in fair value recognized in earnings.

Interest Rate Swaps

The company manages the risk of variability in interest rates of future expected debt issuances by entering into various forward-starting interest rate swaps, designated as cash flow hedges. Changes in fair value of interest rate swaps designated as cash flow hedges are recorded in the shareholders’ equity section in the company’s consolidated balance sheets in “Accumulated other comprehensive loss” and will be reclassified into income over the life of the anticipated debt issuance or in the period the hedged forecasted cash flows are deemed no longer probable to occur. Reclassified gains and losses are recorded within the line item “Interest and other financing expense, net” in the consolidated statements of operations.

The fair value of interest rate swaps are estimated using a discounted cash flow analysis on the expected cash flows of each derivative using observable inputs including interest rate curves and credit spreads.

​

The company occasionally enters into interest rate swap transactions, designated as fair value hedges, that convert certain fixed-rate debt to variable-rate debt in order to manage its targeted mix of fixed- and floating-rate debt. For qualifying interest rate fair value hedges, gains or losses on derivatives are included in “Interest and other financing expense, net” in the consolidated statements of operations. The change in fair value of the hedged item attributable to the risk being hedged is reported as an adjustment to its carrying value and is also included in “Interest and other financing expense, net.”

​

Foreign Exchange Contracts

The company’s foreign currency exposure relates primarily to international transactions where the currency collected from customers can be different from the currency used to purchase the product. The company’s primary exposures to such transactions are denominated primarily in Euros and Indian Rupees. The company enters into foreign exchange forward, option, or swap contracts (collectively, the “foreign exchange contracts”) to facilitate the hedging of foreign currency

exposures resulting from inventory purchases and sales and mitigate the impact of changes in foreign currency exchange rates related to these transactions. Foreign exchange contracts generally have terms of no more than six months. The company does not enter into foreign exchange contracts for trading purposes. The risk of loss on a foreign exchange contract is the risk of nonperformance by the counterparties, which the company minimizes by limiting its counterparties to major financial institutions. The fair value of the foreign exchange contracts is estimated using foreign currency spot rates and forward rates quotes by third-party financial institutions. The notional amount of the foreign exchange contracts inclusive of foreign exchange contracts designated as a net investment hedge at June 28, 2025 and December 31, 2024 was $1.0 billion and $1.1 billion, respectively.

Gains and losses related to non-designated foreign currency exchange contracts are recorded in “Cost of sales” on the company’s consolidated statements of operations. Gains and losses related to foreign currency exchange contracts designated as cash flow hedges are recorded in “Cost of sales,” “Selling, general, and administrative,” and “Interest and other financing expense, net” based upon the nature of the underlying hedged transaction, on the company’s consolidated statements of operations. Gains or losses on these contracts are deferred and recognized when the underlying future purchase or sale is recognized or when the corresponding asset or liability is revalued, and were not material to the financial statements for the periods presented.

The following foreign exchange contracts were designated as net investment hedges, hedging a portion of the company’s net investments in subsidiaries with Euro-denominated net assets:

​

​

​

​

​

​

​

​

​

​

Notional Amount (thousands)

Maturity Date

​

June 28, 2025

​

December 31, 2024

April 2025

​

EUR

—

​

EUR

100,000

January 2028

 

EUR

100,000

 

EUR

100,000

Total

 

EUR

100,000

 

EUR

200,000

​

The change in the fair value of derivatives designated as net investment hedges are recorded in foreign currency translation adjustments within “Accumulated other comprehensive loss” on the company’s consolidated balance sheets. Amounts excluded from the assessment of hedge effectiveness are included in “Interest and other financing expense, net” on the company’s consolidated statements of operations.

During the second quarter of 2025, two foreign exchange contracts designated as net investment hedges matured and the company received $24.9 million, which is reported in the “Cash flow from investing activities” section of the consolidated statements of cash flows.

The effects of derivative instruments on the company’s consolidated statements of operations and other comprehensive income are as follows:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Quarter Ended

​

Six Months Ended

​

​

​

​

June 28,

​

June 29,

​

June 28,

​

June 29,

(thousands)

    

Income Statement Line

    

2025

    

2024

    

2025

    

2024

Gain (Loss) Recognized in Income

 

  

 

​

  

 

​

  

 

​

  

 

​

  

Foreign exchange contracts, net investment hedge (a)

 

Interest Expense

​

$

671

​

$

1,804

​

$

2,088

​

$

3,608

Interest rate swaps, cash flow hedge

 

Interest Expense

​

 

557

​

 

297

​

 

1,107

​

 

(398)

Interest rate swap, fair value hedge (b)

 

Interest Expense

​

 

—

​

 

—

​

 

—

​

 

454

Total

 

  

​

$

1,228

​

$

2,101

​

$

3,195

​

$

3,664

(Loss) Gain Recognized in Other Comprehensive Income (Loss) before reclassifications, net of tax

 

  

​

 

  

​

 

  

​

 

  

​

 

  

Foreign exchange contracts, net investment hedge (c)

 

  

​

$

(5,694)

​

$

2,750

​

$

(10,567)

​

$

7,720

Total

 

  

​

$

(5,694)

​

$

2,750

​

$

(10,567)

​

$

7,720

​

 

  

​

​

​

​

​

​

​

​

​

​

​

​

(a)Represents derivative amounts excluded from the assessment of effectiveness for the net investment hedges reclassified from foreign currency translation adjustments to “Interest and other financing expense, net”.
(b)The cumulative amount of fair value hedging adjustments to the carrying value of hedged debt instruments totaled a loss of $0.4 million for first quarter of 2024. During the first quarter of 2024, the fair value hedge was terminated.
(c)Includes derivative (losses) gains of ($13.0) million and ($10.8) million for the second quarter and first six months of 2025, respectively, and $1.3 million and $1.4 million for the second quarter and first six months of 2024, respectively, which were excluded from the assessment of effectiveness for the net investment hedges and recognized in other comprehensive income (loss), net of tax.

Other

The carrying amount of “Cash and cash equivalents”, “Accounts receivable, net”, and “Accounts payable” approximate their fair value due to the short maturities of these financial instruments.
v3.25.2
Restructuring, Integration, and Other
 6 Months Ended
Jun. 28, 2025
Restructuring, Integration, and Other  
Restructuring, Integration, and Other

Note I – Restructuring, Integration, and Other

The following table presents the components of the restructuring, integration, and other charges:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Quarter Ended

​

Six Months Ended

​

​

June 28,

​

June 29,

​

June 28,

​

June 29,

(thousands)

    

2025

    

2024

    

2025

    

2024

Restructuring, integration and related costs

​

​

​

​

​

​

​

​

​

​

​

​

Operating Expense Efficiency Plan costs (a)

​

$

19,946

​

$

—

​

$

28,631

​

$

—

Other plans

​

​

582

​

​

464

​

​

1,883

​

​

100

Other expenses

​

​

​

​

​

​

​

​

​

​

​

​

Operating expense reduction costs not related to restructuring initiatives (b)

​

(1,821)

​

​

32,846

​

​

1,928

​

​

75,608

Early lease termination costs

​

​

76

​

​

3,207

​

​

1,331

​

​

6,525

Other charges

​

​

3,136

​

​

4,020

​

​

5,459

​

​

5,160

​

​

$

21,919

​

$

40,537

​

$

39,232

​

$

87,393

(a)See details related to the Operating Expense Efficiency Plan discussed below.
(b)These costs are primarily related to employee severance and benefit costs. As of June 28, 2025, the accrued liabilities related to these costs totaled $7.9 million and substantially all accrued amounts are expected to be spent in cash within one year.

Operating Expense Efficiency Plan

On October 31, 2024, in response to evolving business needs and as part of an initiative to optimize operating expenses, the company announced a multi-year restructuring plan (the “Operating Expense Efficiency Plan” or “the Plan”). The Plan is designed to improve operational efficiency through the following measures: (i) reorganizing and consolidating certain areas of the company’s operations to centralize functions and streamline resources, with a focus on more cost-efficient regions; (ii) enhancing warehouse and logistics operations; (iii) investing in information technology to support automation and process improvements; (iv) consolidating the company’s global real estate footprint; (v) reducing third-party spending; and (vi) winding down certain non-core businesses that are not aligned with the company’s strategic objectives. The company expects to substantially complete the Plan by the end of fiscal year 2026, subject to, among other things, local legal and consultation requirements.

​

Under the Plan, the company anticipates to incur pre-tax restructuring charges of no more than $185.0 million. While the composition of these costs will continue to evolve over time, the company currently expects to incur approximately $80.0 million of employee severance and other personnel cash expenditures; approximately $80.0 million of non-cash asset impairments, inventory write-downs and foreign currency translation adjustment write-offs related to the wind down of certain business operations; and approximately $25.0 million of other related cash expenditures. As a result of the company’s philosophy of maximizing operating efficiencies through the centralization of certain functions, restructuring, integration, and related costs are included in the corporate line item for management and segment reporting as they are not attributable to the individual reportable segments.

​

The following table presents the costs related to the Operating Expense Efficiency Plan:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

(thousands)

    

Income Statement Line

    

Quarter Ended
 June 28,
2025

    

Six Months Ended
June 28,
2025

    

Total Cost Incurred to Date

Employee severance and benefit costs

​

​

Restructuring, integration, and other

​

$

12,659

​

$

19,413

​

$

20,761

Inventory (recoveries) write-downs 

​

​

Cost of sales

​

​

(2,172)

​

​

(4,639)

​

​

45,705

Asset impairments

​

​

Restructuring, integration, and other

​

​

-

​

​

-

​

​

1,416

Other costs (a)

​

​

Restructuring, integration, and other

​

​

7,287

​

​

9,218

​

​

16,733

​

​

​

​

​

$

17,774

​

$

23,992

​

$

84,615

(a)Other costs consist primarily of consulting and other professional fees, early lease termination fees, and foreign currency translation adjustment write-offs.

The following table presents the activity in the restructuring, integration, and other accruals related to the Operating Expense Efficiency Plan:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

(thousands)

    

Employee Severance and Benefit Costs

    

Inventory Recoveries

    

Other Costs

    

Total

Balance at December 31, 2024

​

$

384

​

$

-

​

$

202

​

$

586

Restructuring related charges

​

​

19,413

​

​

(4,639)

​

​

9,218

​

​

23,992

Cash (payments) receipts

​

​

(10,086)

​

​

4,639

​

​

(4,491)

​

​

(9,938)

Foreign currency translations

​

​

157

​

​

-

​

​

414

​

​

571

Balance at June 28, 2025

​

$

9,868

​

$

-

​

$

5,343

​

$

15,211

​

Substantially all amounts accrued at June 28, 2025 related to the Operating Expense Efficiency Plan are expected to be paid in cash within one year.
v3.25.2
Net Income per Share
 6 Months Ended
Jun. 28, 2025
Net Income per Share  
Net Income per Share

Note J – Net Income per Share

Basic net income per share is computed by dividing net income attributable to shareholders by the weighted-average number of common shares outstanding for the period. Diluted net income per share reflects the potential dilution that would occur if securities or other contracts to issue common stock were exercised or converted into common stock. The dilutive effect of equity awards is calculated using the treasury stock method.

The following table presents the computation of net income per share on a basic and diluted basis:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Quarter Ended

​

Six Months Ended

​

​

June 28,

​

June 29,

​

June 28,

​

June 29,

(thousands except per share data)

    

2025

    

2024

    

2025

    

2024

Net income attributable to shareholders

​

$

187,749

​

$

108,698

​

$

267,469

​

$

192,299

Weighted-average shares outstanding - basic

​

 

51,856

​

 

53,640

​

 

52,057

​

 

53,944

Net effect of various dilutive stock-based compensation awards

​

 

486

​

 

541

​

 

447

​

 

552

Weighted-average shares outstanding - diluted

​

 

52,342

​

 

54,181

​

 

52,504

​

 

54,496

Net income per share:

​

 

  

​

 

  

​

 

  

​

 

  

Basic

​

$

3.62

​

$

2.03

​

$

5.14

​

$

3.56

Diluted (a)

​

$

3.59

​

$

2.01

​

$

5.09

​

$

3.53

​

​

​

​

​

​

​

​

​

​

​

​

​

(a) Equity awards excluded from diluted net income per share as their effect would have been anti-dilutive

​

​

28

​

​

-

​

​

57

​

​

-

​
v3.25.2
Shareholders' Equity
 6 Months Ended
Jun. 28, 2025
Shareholders' Equity  
Shareholders' Equity

Note K – Shareholders’ Equity

Accumulated Other Comprehensive Income (Loss)

The following table presents the changes in Accumulated other comprehensive income (loss), excluding noncontrolling interests:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Quarter Ended

​

Six Months Ended

​

​

June 28,

​

June 29,

​

June 28,

​

June 29,

(thousands)

    

2025

    

2024

    

2025

    

2024

Foreign Currency Translation Adjustment and Other:

​

  

​

​

  

​

​

  

​

​

  

​

Other comprehensive income (loss) before reclassifications (a)

​

$

261,734

​

$

(24,067)

​

$

392,350

​

$

(122,239)

Amounts reclassified into income

​

 

3,173

​

 

(119)

​

 

3,374

​

 

(74)

(Loss) gain on Foreign Exchange Contracts Designated as Net Investment Hedges, Net:

​

 

  

​

 

  

​

 

​

​

 

  

Other comprehensive (loss) income before reclassifications (b)

​

 

(5,694)

​

 

2,750

​

 

(10,567)

​

 

7,720

Amounts reclassified into income

​

 

(510)

​

 

(1,372)

​

 

(1,589)

​

 

(2,744)

(Loss) gain on Interest Rate Swaps Designated as Cash Flow Hedges, Net:

​

 

  

​

 

  

​

 

  

​

 

  

Amounts reclassified into (loss) income

​

 

(424)

​

 

(226)

​

 

(843)

​

 

303

Post-retirement Expense Items, Net:

​

 

  

​

 

  

​

 

  

​

 

  

Amounts reclassified into income

​

 

(347)

​

 

(502)

​

 

(709)

​

 

(593)

Net change in Accumulated other comprehensive income (loss)

​

$

257,932

​

$

(23,536)

​

$

382,016

​

$

(117,627)

(a)Foreign currency translation adjustment includes intra-entity foreign currency transactions that are of a long-term investment nature of $21.9 million and $34.6 million for the second quarter and first six months of 2025, and ($2.2) million ($9.0) million for the second quarter and first six months of 2024, respectively.
(b)For additional information related to net investment hedges and interest rate swaps refer to Note H.

Common Stock Outstanding Activity

The following tables set forth the activity in the number of shares outstanding:

​

​

​

​

​

​

​

​

​

    

Common 

    

​

    

Common 

​

​

Stock 

​

Treasury 

​

Stock 

(thousands)

​

Issued

​

Stock

​

Outstanding

Common stock outstanding at December 31, 2024

 

55,592

 

3,420

 

52,172

Shares issued for stock-based compensation awards

 

195

 

(28)

 

223

Repurchases of common stock

 

—

 

528

 

(528)

Common stock outstanding at March 29, 2025

 

55,787

 

3,920

 

51,867

Shares issued for stock-based compensation awards

 

28

 

(23)

 

51

Repurchases of common stock

 

—

 

417

 

(417)

Common stock outstanding at June 28, 2025

 

55,815

 

4,314

 

51,501

​

​

​

​

​

​

​

​

​

    

Common 

    

​

    

Common 

​

​

Stock 

​

Treasury 

​

Stock 

(thousands)

​

Issued

​

Stock

​

Outstanding

Common stock outstanding at December 31, 2023

 

57,691

 

3,880

 

53,811

Shares issued for stock-based compensation awards

 

264

 

(57)

 

321

Repurchases of common stock

 

—

 

902

 

(902)

Common stock outstanding at March 30, 2024

 

57,955

 

4,725

 

53,230

Shares issued for stock-based compensation awards

 

91

 

(9)

 

100

Repurchases of common stock

 

—

 

385

 

(385)

Common stock outstanding at June 29, 2024

 

58,046

 

5,101

 

52,945

​

​

Share Repurchase Program

The following table shows the company’s share repurchase program as of June 28, 2025:

​

​

​

​

​

​

​

​

​

​

​

​

    

​

    

​

    

Approximate

​

​

​

​

​

​

Dollar Value of

​

​

Dollar Value

​

Dollar Value of

​

Shares that May

​

​

Approved for

​

Shares

​

Yet be Purchased

Share Repurchase Details by Month of Board Approval (thousands)

​

Repurchase

​

Repurchased

​

Under the Program

January 2023

​

$

1,000,000

​

$

776,653

​

$

223,347

​

The company repurchased 0.4 million shares and 0.9 million shares of its common stock for $50.0 million and $99.9 million in the second quarter and first six months of 2025, respectively, under the company’s share repurchase program, excluding excise taxes. During the first six months of 2025, the company accrued $0.8 million of excise tax, which is recorded within “Treasury stock” on the company’s consolidated balance sheets and reduces the share repurchase authorization, as the excise tax is a part of the overall cost of acquiring treasury shares. The company’s share repurchase program does not have an expiration date.
v3.25.2
Contingencies
 6 Months Ended
Jun. 28, 2025
Contingencies  
Contingencies

Note L – Contingencies

Environmental Matters

The Company has accrued liabilities of $23.5 million for ongoing environmental remediation efforts at sites in Huntsville, Alabama (the “Huntsville site”) and Norco, California (the “Norco site”) at which contaminated soil and groundwater was identified. The contamination related to activities of certain subsidiaries which ended prior to 2000. Remediation efforts began in 2015 and 2003 at the Huntsville site and Norco site, respectively, and are progressing under action plans monitored by local environmental agencies.

Costs are recorded for environmental matters when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated. Environmental liabilities are included in “Accrued expenses” and “Other liabilities” on the company’s consolidated balance sheets. The company has determined that there is no amount within the environmental liability ranges discussed below that is a better estimate than any other amount, and therefore has recorded the accruals at the minimum amount of the ranges. The liabilities were estimated based on current costs and are not discounted. Environmental costs related to these matters include remediation, project management, regulatory oversight, and investigative and feasibility study activities.

To date, the company has spent approximately $9.2 million and $87.6 million related to environmental costs at the Huntsville site and the Norco site, respectively. The subsequent environmental costs at the Huntsville site are estimated to

be between $5.2 million and $16.9 million and at the Norco site they are estimated to be between $18.3 million and $34.4 million.

The company expects the liabilities associated with such ongoing remediation to be resolved over an extended period of time, with current estimates extending beyond 2040. The accruals for environmental liabilities are adjusted periodically as facts and circumstances change, assessment and remediation efforts progress, or as additional technical or legal information becomes available. Environmental liabilities are difficult to assess and estimate due to various unknown factors such as the timing and extent of remediation, the efficacy and long-term costs of remediation, improvements in remediation technologies, orders by administrative agencies, and the extent to which environmental laws and regulations may change in the future.

To date, the company has recovered approximately $157.4 million from certain insurance carriers and other responsible parties relating to environmental clean-up matters at these sites and continues to pursue additional recoveries from one insurer related solely to the Huntsville site. The company has not recorded a receivable for any potential future insurance recoveries.

It is reasonably possible that the company will need to adjust the liabilities noted above to reflect the effects of new or additional information, to the extent that such information impacts the costs, timing, or duration of the required actions. Future changes in estimates of the costs, timing, or duration of the required actions could have a material adverse effect on the company’s consolidated financial position, results of operations, or cash flows.

Other

From time to time, in the normal course of business, the company may become liable with respect to other pending and threatened litigation, environmental, regulatory, labor, product, and tax matters. While such matters are subject to inherent uncertainties, it is not currently anticipated that any such matters will materially impact the company’s consolidated financial position, liquidity, or results of operations.
v3.25.2
Segment and Geographic Information
 6 Months Ended
Jun. 28, 2025
Segment and Geographic Information  
Segment and Geographic Information

Note M – Segment and Geographic Information

The company is a global provider of products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions. The company organizes its operations by geographic region and global business lines. The company’s operating segments reflect the way the chief executive officer (CODM as defined in ASC 280, Segment Reporting) reviews financial information, makes operating decisions and assesses business performance. In identifying operating segments, the company also considers its annual budgeting and forecasting process, management reporting structure, the basis on which management compensation is determined, information presented to the Board of Directors, and similarities such as the nature of products, the level of shared products, technology and other resources, and customer base. The company concluded that identifying operating segments by major geographic region within each of the company’s major businesses was consistent with the objectives of ASC 280 and it has aggregated geographic operating segments within the global components reportable segment and the global ECS reportable segment based on similar characteristics including long-term financial performance, the nature of services provided, internal process for delivering those services, and types of customers.

The global components reportable segment is enabled by a comprehensive range of value-added capabilities and services, markets, and distributes electronic components to OEMs and EMS providers. The global ECS reportable segment is a leading provider of comprehensive computing solutions and value-added services. The global ECS reportable segment brings broad market access, extensive supplier relationships, scale, and value-added solutions to help its VARs and MSPs meet the needs of their end-users through a portfolio of computing solutions including datacenter, cloud, security, and analytics solutions.

The CODM evaluates the performance of both reportable segments based on operating income, as well as monitoring sales, gross profit, and operating expenses. This information is used to monitor segment profitability, allocate resources, and make budgeting and forecasting decisions about the reportable segments. The CODM also uses these measures to monitor trends in year over year performance comparisons, sequential quarter performance comparisons, and to compare actual results to forecasts. More disaggregated information about operating expense is generally only reviewed by the CODM on a consolidated basis.

As a result of the company’s philosophy of maximizing operating efficiencies through the centralization of certain functions, operating income for the reportable segments excludes unallocated corporate overhead costs, depreciation on corporate fixed assets, and restructuring, integration, and other costs, as they are not attributable to the individual reportable segments and are included in the corporate line item.

Sales, by reportable segment by geographic area, are as follows:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Quarter Ended

​

Six Months Ended

​

​

June 28,

​

June 29,

​

June 28,

​

June 29,

(thousands)

    

2025

    

2024

    

2025

    

2024

Sales:

 

​

  

 

​

  

 

​

  

 

​

  

Components:

 

​

  

 

​

  

 

​

  

 

​

  

Americas

​

$

1,707,522

​

$

1,572,840

​

$

3,276,092

​

$

3,169,532

EMEA

​

 

1,426,944

​

 

1,439,494

​

 

2,766,945

​

 

3,096,001

Asia/Pacific

​

 

2,150,432

​

 

2,019,697

​

 

4,019,583

​

 

3,957,915

Global components

​

$

5,284,898

​

$

5,032,031

​

$

10,062,620

​

$

10,223,448

​

​

​

​

​

​

​

​

​

​

​

​

​

ECS:

​

 

  

​

 

  

​

 

  

​

 

  

Americas

​

$

1,052,785

​

$

964,070

​

$

1,962,688

​

$

1,871,818

EMEA

​

 

1,242,264

​

 

896,767

​

 

2,368,656

​

 

1,721,862

Global ECS

​

$

2,295,049

​

$

1,860,837

​

$

4,331,344

​

$

3,593,680

Consolidated

​

$

7,579,947

​

$

6,892,868

​

$

14,393,964

​

$

13,817,128

​

Sales by country are as follows:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Quarter Ended

​

Six Months Ended

​

​

June 28,

​

June 29,

​

June 28,

​

June 29,

(thousands)

    

2025

    

2024

 

2025

    

2024

Sales:

 

​

  

 

​

  

​

​

  

 

​

  

China and Hong Kong

​

$

1,090,699

​

$

1,030,610

​

$

2,016,591

​

$

1,994,186

Germany

​

 

793,022

​

 

766,087

​

 

1,510,354

​

 

1,634,515

Other

​

 

3,079,871

​

 

2,725,415

​

 

5,939,222

​

 

5,504,852

Total foreign

​

$

4,963,592

​

$

4,522,112

​

$

9,466,167

​

$

9,133,553

United States

​

 

2,616,355

​

 

2,370,756

​

 

4,927,797

​

 

4,683,575

Total

​

$

7,579,947

​

$

6,892,868

​

$

14,393,964

​

$

13,817,128

​

Results of operations by reportable segment are as follows:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Quarter Ended

​

​

June 28, 2025

(thousands)

​

Global Components

​

Global ECS

​

Corporate

​

Consolidated

​

Sales

​

$

5,284,898

​

$

2,295,049

​

$

-

​

$

7,579,947

​

Cost of sales

​

​

4,693,444

​

​

2,037,846

​

​

-

​

​

6,731,290

​

Gross profit

​

​

591,454

​

​

257,203

​

​

-

​

​

848,657

​

Gross profit margin

​

​

11.2

%

​

11.2

%

​

-

​

​

11.2

%

Operating expenses (a)

​

​

404,646

​

​

160,234

​

​

93,191

​

​

658,071

​

Operating income (loss) (b) (d)

​

$

186,808

​

$

96,969

​

$

(93,191)

​

$

190,586

​

Operating income margin

​

​

3.5

%

​

4.2

%

​

-

​

​

2.5

%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Quarter Ended

​

​

June 29, 2024

(thousands)

​

Global Components

​

Global ECS

​

Corporate

​

Consolidated

​

Sales

​

$

5,032,031

​

$

1,860,837

​

$

-

​

$

6,892,868

​

Cost of sales

​

​

4,407,171

​

​

1,639,253

​

​

-

​

​

6,046,424

​

Gross profit

​

​

624,860

​

​

221,584

​

​

-

​

​

846,444

​

Gross profit margin

​

​

12.4

%

​

11.9

%

​

-

​

​

12.3

%

Operating expenses (a)

​

​

414,659

​

​

119,003

​

​

100,507

​

​

634,169

​

Operating income (loss) (b) (c) (d)

​

$

210,201

​

$

102,581

​

$

(100,507)

​

$

212,275

​

Operating income margin

​

​

4.2

%

​

5.5

%

​

-

​

​

3.1

%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Six Months Ended

​

​

June 28, 2025

(thousands)

​

Global Components

​

Global ECS

​

Corporate

​

Consolidated

​

Sales

​

$

10,062,620

​

$

4,331,344

​

$

-

​

$

14,393,964

​

Cost of sales

​

​

8,916,221

​

​

3,855,094

​

​

-

​

​

12,771,315

​

Gross profit

​

​

1,146,399

​

​

476,250

​

​

-

​

​

1,622,649

​

Gross profit margin

​

​

11.4

%

​

11.0

%

​

-

​

​

11.3

%

Operating expenses (a)

​

​

788,206

​

​

301,967

​

​

183,337

​

​

1,273,510

​

Operating income (loss) (b) (d)

​

$

358,193

​

$

174,283

​

$

(183,337)

​

$

349,139

​

Operating income margin

​

​

3.6

%

​

4.0

%

​

-

​

​

2.4

%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Six Months Ended

​

​

June 29, 2024

(thousands)

​

Global Components

​

Global ECS

​

Corporate

​

Consolidated

​

Sales

​

$

10,223,448

​

$

3,593,680

​

$

-

​

$

13,817,128

​

Cost of sales

​

​

8,952,874

​

​

3,159,984

​

​

-

​

​

12,112,858

​

Gross profit

​

​

1,270,574

​

​

433,696

​

​

-

​

​

1,704,270

​

Gross profit margin

​

​

12.4

%

​

12.1

%

​

-

​

​

12.3

%

Operating expenses (a)

​

​

834,811

​

​

259,656

​

​

211,611

​

​

1,306,078

​

Operating income (loss) (b) (c) (d)

​

$

435,763

​

$

174,040

​

$

(211,611)

​

$

398,192

​

Operating income margin

​

​

4.3

%

​

4.8

%

​

-

​

​

2.9

%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

(a)Segment operating expenses primarily include employee-related expenses, depreciation and amortization, and allowance for credit losses.
(b)Global components operating income includes recoveries of $2.2 million and $4.6 million in inventory write-downs related to the wind down of a business for the second quarter and first six months of 2025, respectively, and charges of $1.6 million and $12.1 million in inventory write-downs related to the wind down of a business for the second quarter and first six months of 2024, respectively.
(c)Global ECS operating income includes a $20.0 million benefit related to the reversal of an allowance for credit losses for the second quarter and first six months of 2024.
(d)Corporate operating loss includes restructuring, integration, and other charges of $21.9 million and $39.2 million for the second quarter and first six months of 2025, respectively, and $40.5 million and $87.4 million for the second quarter and first six months of 2024, respectively. Refer to Note I.

​

Total assets, by reportable segment, are as follows:

​

​

​

​

​

​

​

​

​

​

June 28,

​

December 31,

(thousands)

    

2025

    

2024

Total assets:

 

​

  

 

​

  

Global components

​

$

17,918,136

​

$

14,765,931

Global ECS

​

 

5,829,562

​

 

6,518,723

Corporate

​

 

504,880

​

 

473,053

Consolidated

​

$

24,252,578

​

$

21,757,707

​

Long-lived assets by country are as follows:

​

​

​

​

​

​

​

​

​

​

June 28,

​

December 31,

(thousands)

    

2025

    

2024

Long-lived assets:

 

​

  

 

​

  

France

​

$

98,176

​

$

86,268

Netherlands

​

​

83,229

​

​

78,120

Germany

​

​

73,892

​

​

61,914

Other

​

 

157,640

​

 

161,989

Total foreign

​

$

412,937

​

$

388,291

United States

​

 

318,244

​

 

332,098

Total

​

$

731,181

​

$

720,389

​
v3.25.2
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Jun. 28, 2025
Jun. 29, 2024
Pay vs Performance Disclosure        
Net Income (Loss) $ 187,749 $ 108,698 $ 267,469 $ 192,299
v3.25.2
Insider Trading Arrangements
 3 Months Ended
Jun. 28, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
Rule 10b5-1 Arrangement Modified false
Non Rule 10b5-1 Arrangement Modified false
v3.25.2
Basis of Presentation (Policies)
 6 Months Ended
Jun. 28, 2025
Basis of Presentation  
Basis of Accounting Policy

The accompanying consolidated financial statements of Arrow Electronics, Inc. (the “company”) were prepared in accordance with GAAP and reflect all adjustments of a normal recurring nature, which are, in the opinion of management, necessary for a fair presentation of the consolidated financial position and results of operations at, and for the periods presented. The consolidated results of operations for the interim periods are not necessarily indicative of results for the full year.

These consolidated financial statements do not include all of the information or notes necessary for a complete presentation and, accordingly, should be read in conjunction with the company’s audited consolidated financial statements and accompanying notes for the year ended December 31, 2024, as filed in the company’s Annual Report on Form 10-K.
Fiscal Period Policy The company operates on a quarterly calendar that closes on the Saturday closest to the end of the calendar quarter, except for the fourth quarter, which closes on December 31, 2025
Reclassification

Certain prior period amounts were reclassified to conform to the current period presentation. These reclassifications did not have a material impact on previously reported amounts.
Impact of Recently Issued Accounting Standards

In November 2024, the FASB issued ASU No. 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. This ASU requires entities to disaggregate expense items in the notes to the financial statements and requires disclosure of specified information related to purchases of inventory, employee compensation, depreciation, and intangible asset amortization. The amendments in this ASU are effective for annual periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027. Companies have the option to apply the guidance either on a retrospective or prospective basis, and early adoption is permitted. The company is currently evaluating the impact of the ASU on its condensed consolidated financial statements and related disclosures. In January 2025, the FASB issued ASU No. 2025-01, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date. This ASU amends the effective date of ASU No. 2024-03 to clarify that all public business entities are required to adopt the guidance in annual reporting periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027. Early adoption of ASU No. 2024-03 is permitted. The company does not currently anticipate adopting these amendments early.

In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. Upon adoption of this ASU, the company will disclose specific new categories in its income tax rate reconciliation and provide additional information for reconciling items above a quantitative threshold. The company will also disclose the amount of income taxes paid disaggregated by federal, state, and foreign taxes, and also disaggregated by individual jurisdictions in which income taxes paid were above a threshold. The company expects these amendments will first be applied in the company’s annual report on Form 10-K for the fiscal year ending December 31, 2025, on a prospective basis.
Goodwill

Goodwill represents the excess of the cost of an acquisition over the fair value of the net assets acquired. The company tests goodwill and other indefinite-lived intangible assets for impairment annually as of the first day of the fourth quarter, or more frequently if indicators of potential impairment exist.
Fair Value of Debt Policy

The carrying amount of the company’s other short-term borrowings, North American asset securitization program, commercial paper, and other obligations approximate their fair value.
Financial Instruments Measured at Fair Value

Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The company utilizes a fair value hierarchy, which maximizes the use of observable inputs and minimizes the use of unobservable inputs when measuring fair value. The fair value hierarchy has three levels of inputs that may be used to measure fair value:

Level 1

Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.

Level 2

Quoted prices in markets that are not active; or other inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability.

Level 3

Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable.
v3.25.2
Goodwill and Intangible Assets (Tables)
 6 Months Ended
Jun. 28, 2025
Goodwill and Intangible Assets  
Schedule of goodwill of companies acquired

​

​

​

​

​

​

​

​

​

​

​

​

    

Global 

    

​

    

​

(thousands)

​

Components

​

Global ECS

​

Total

Balance as of December 31, 2024 (a)

​

$

902,445

​

$

1,152,850

​

$

2,055,295

Foreign currency translation adjustment

​

 

17,189

​

 

51,510

​

 

68,699

Balance as of June 28, 2025 (a)

​

$

919,634

​

$

1,204,360

​

$

2,123,994

(a)The total carrying value of goodwill as of June 28, 2025 and December 31, 2024, in the table above is reflected net of $1.6 billion of accumulated impairment charges, of which $1.3 billion was recorded in the global components reportable segment and $301.9 million was recorded in the global ECS reportable segment.
Schedule of intangible assets, net

Intangible assets, net, are comprised of the following as of June 28, 2025:

​

​

​

​

​

​

​

​

​

​

​

    

Gross 

    

​

    

​

​

​

Carrying 

​

Accumulated 

​

​

(thousands)

​

Amount

​

Amortization

​

Net

Customer relationships

​

$

192,715

​

$

(118,891)

​

$

73,824

Amortizable trade name

​

 

74,001

​

 

(61,273)

​

 

12,728

​

​

$

266,716

​

$

(180,164)

​

$

86,552

​

Intangible assets, net, are comprised of the following as of December 31, 2024:

​

​

​

​

​

​

​

​

​

​

​

    

Gross 

    

​

    

​

​

​

Carrying 

​

Accumulated 

​

​

(thousands)

​

Amount

​

Amortization

​

Net

Customer relationships

​

$

215,366

​

$

(133,927)

​

$

81,439

Amortizable trade name

​

 

74,001

​

 

(58,734)

​

 

15,267

​

​

$

289,367

​

$

(192,661)

​

$

96,706
v3.25.2
Investments in Affiliated Companies (Tables)
 6 Months Ended
Jun. 28, 2025
Investments in Affiliated Companies  
Schedule of investment in affiliated companies

​

​

​

​

​

​

​

​

June 28,

    

December 31,

(thousands)

2025

​

2024

Marubun/Arrow

$

43,300

​

$

43,851

Other

 

14,466

​

 

13,448

​

$

57,766

​

$

57,299
Schedule of equity in earnings (losses) of affiliated companies

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Quarter Ended

​

Six Months Ended

​

​

June 28,

​

June 29,

​

June 28,

​

June 29,

(thousands)

    

2025

    

2024

    

2025

    

2024

Marubun/Arrow

​

$

(843)

​

$

620

​

$

65

​

$

86

Other

​

 

184

​

 

634

​

​

596

 

​

824

​

​

$

(659)

​

$

1,254

​

$

661

​

$

910
v3.25.2
Accounts Receivable (Tables)
 6 Months Ended
Jun. 28, 2025
Accounts Receivable  
Schedule of accounts receivable, net

​

​

​

​

​

​

​

​

​

​

June 28,

​

December 31,

(thousands)

    

2025

    

2024

Accounts receivable

​

$

15,393,487

​

$

13,147,436

Allowance for credit losses

​

 

(122,138)

​

 

(116,445)

Accounts receivable, net

​

$

15,271,349

​

$

13,030,991
Schedule of changes in the allowance for credit losses

​

​

​

​

​

​

​

​

​

​

Six Months Ended

​

​

June 28,

​

June 29,

(thousands)

    

2025

    

2024

Balance at beginning of period

​

$

116,445

​

$

146,480

Charged to income

​

 

8,737

​

 

(12,204)

Translation adjustments

​

 

4,362

​

 

(1,331)

Write-offs

​

 

(7,406)

​

 

(15,013)

Balance at end of period

​

$

122,138

​

$

117,932
Schedule of sales of accounts receivable to unaffiliated financial institutions under the EMEA asset securitization program

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Quarter Ended

​

Six Months Ended

​

​

June 28,

​

June 29,

​

June 28,

​

June 29,

(thousands)

    

2025

    

2024

    

2025

    

2024

EMEA asset securitization, sales of accounts receivable

​

$

416,150

​

$

477,779

​

$

788,791

​

$

1,017,659
Schedule of other amounts related to the EMEA asset securitization program

​

​

​

​

​

​

​

​

​

​

June 28,

​

December 31,

(thousands)

    

2025

    

2024

Receivables sold to unaffiliated financial institutions that were uncollected

​

$

348,698

​

$

339,669

Collateralized accounts receivable held by Arrow EMEA Funding Corp B.V.

​

 

618,794

​

 

528,975
Schedule of sales of trade accounts receivable under factoring programs

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Quarter Ended

​

Six Months Ended

​

​

June 28,

​

June 29,

​

June 28,

​

June 29,

(thousands)

    

2025

    

2024

    

2025

    

2024

Sales of accounts receivable under the factoring programs

​

$

389,614

​

$

239,631

​

$

552,365

​

$

447,921
Schedule of other amounts under factoring programs

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

June 28,

​

December 31,

(thousands)

​

​

​

​

​

​

​

2025

​

2024

Receivables sold under the factoring programs that were uncollected

​

​

​

​

​

​

​

$

320,759

​

$

182,432
v3.25.2
Debt (Tables)
 6 Months Ended
Jun. 28, 2025
Debt  
Schedule of short-term borrowings, including current portion of long-term debt

​

​

​

​

​

​

​

​

​

​

June 28,

​

December 31,

(thousands)

    

2025

    

2024

4.00% notes, due April 2025

​

$

—

​

$

349,808

Commercial paper

​

 

407,368

​

 

—

Other short-term borrowings

​

 

48,244

​

 

170

​

​

$

455,612

​

$

349,978
Schedule of long-term debt

​

​

​

​

​

​

​

​

​

​

June 28,

​

December 31,

(thousands)

    

2025

    

2024

Revolving credit facility

​

$

—

​

$

30,000

North American asset securitization program

​

 

246,000

​

 

633,000

7.50% senior debentures, due 2027

​

 

110,307

​

 

110,266

3.875% notes, due 2028

​

 

498,124

​

 

497,775

5.15% notes, due 2029

​

 

495,669

​

 

495,209

2.95% notes, due 2032

​

 

495,851

​

 

495,576

5.875% notes, due 2034

​

 

495,205

​

 

494,986

Other obligations with various interest rates and due dates

​

 

24,656

​

 

16,971

​

​

$

2,365,812

​

$

2,773,783
Schedule of estimated fair market value of long-term debt, using quoted market prices

​

​

​

​

​

​

​

​

​

​

June 28,

​

December 31,

(thousands)

    

2025

    

2024

7.50% senior debentures, due 2027

​

$

115,000

​

$

115,000

3.875% notes, due 2028

​

​

490,000

​

​

481,500

5.15% notes, due 2029

​

 

507,500

​

 

498,000

2.95% notes, due 2032

​

 

438,000

​

 

426,000

5.875% notes, due 2034

​

 

514,500

​

 

502,500
v3.25.2
Financial Instruments Measured at Fair Value (Tables)
 6 Months Ended
Jun. 28, 2025
Financial Instruments Measured at Fair Value  
Schedule of assets (liabilities) measured at fair value on a recurring basis

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

(thousands)

    

Balance Sheet Location

    

Level 1

    

Level 2

    

Level 3

    

Total

Cash equivalents (a)

 

Cash and cash equivalents

​

$

15,831

​

$

—

​

$

—

​

$

15,831

Equity investments (b)

 

Other assets

​

 

41,389

​

 

—

​

 

—

​

 

41,389

Foreign exchange contracts designated as net investment hedges

 

Other assets / other current assets

​

 

—

​

 

14,943

​

 

—

​

 

14,943

​

​

​

​

$

57,220

​

$

14,943

​

$

—

​

$

72,163

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

(thousands)

    

Balance Sheet Location

    

Level 1

    

Level 2

    

Level 3

    

Total

Cash equivalents (a)

 

Cash and cash equivalents

​

$

10,751

​

$

—

​

$

—

​

$

10,751

Equity investments (b)

 

Other assets

​

 

42,907

​

 

—

​

 

—

​

 

42,907

Foreign exchange contracts designated as net investment hedges

 

Other assets / other current assets

​

 

—

​

 

53,679

​

 

—

​

 

53,679

​

​

​

​

$

53,658

​

$

53,679

​

$

—

​

$

107,337

(a)Cash equivalents include highly liquid investments with an original maturity of less than three months.
(b)The company has an approximately 9.0% equity ownership interest in Marubun Corporation and a portfolio of mutual funds with quoted market prices. The company recorded unrealized gains of $0.7 million and $0.5 million for the second quarter and first six months of 2025, respectively, on equity securities held at the end of the quarter. The company recorded unrealized losses of $6.7 million and $10.3 million for the second quarter and first six months of 2024, respectively, on equity securities held at the end of the quarter.
Schedule of effects of derivative instruments on the company's consolidated statements of operations and other comprehensive income

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Quarter Ended

​

Six Months Ended

​

​

​

​

June 28,

​

June 29,

​

June 28,

​

June 29,

(thousands)

    

Income Statement Line

    

2025

    

2024

    

2025

    

2024

Gain (Loss) Recognized in Income

 

  

 

​

  

 

​

  

 

​

  

 

​

  

Foreign exchange contracts, net investment hedge (a)

 

Interest Expense

​

$

671

​

$

1,804

​

$

2,088

​

$

3,608

Interest rate swaps, cash flow hedge

 

Interest Expense

​

 

557

​

 

297

​

 

1,107

​

 

(398)

Interest rate swap, fair value hedge (b)

 

Interest Expense

​

 

—

​

 

—

​

 

—

​

 

454

Total

 

  

​

$

1,228

​

$

2,101

​

$

3,195

​

$

3,664

(Loss) Gain Recognized in Other Comprehensive Income (Loss) before reclassifications, net of tax

 

  

​

 

  

​

 

  

​

 

  

​

 

  

Foreign exchange contracts, net investment hedge (c)

 

  

​

$

(5,694)

​

$

2,750

​

$

(10,567)

​

$

7,720

Total

 

  

​

$

(5,694)

​

$

2,750

​

$

(10,567)

​

$

7,720

​

 

  

​

​

​

​

​

​

​

​

​

​

​

​

(a)Represents derivative amounts excluded from the assessment of effectiveness for the net investment hedges reclassified from foreign currency translation adjustments to “Interest and other financing expense, net”.
(b)The cumulative amount of fair value hedging adjustments to the carrying value of hedged debt instruments totaled a loss of $0.4 million for first quarter of 2024. During the first quarter of 2024, the fair value hedge was terminated.
(c)Includes derivative (losses) gains of ($13.0) million and ($10.8) million for the second quarter and first six months of 2025, respectively, and $1.3 million and $1.4 million for the second quarter and first six months of 2024, respectively, which were excluded from the assessment of effectiveness for the net investment hedges and recognized in other comprehensive income (loss), net of tax.
Foreign exchange contract | Designated as hedging instrument  
Financial Instruments Measured at Fair Value  
Schedule of description of types of hedging instruments used

​

​

​

​

​

​

​

​

​

​

Notional Amount (thousands)

Maturity Date

​

June 28, 2025

​

December 31, 2024

April 2025

​

EUR

—

​

EUR

100,000

January 2028

 

EUR

100,000

 

EUR

100,000

Total

 

EUR

100,000

 

EUR

200,000
v3.25.2
Restructuring, Integration, and Other (Tables)
 6 Months Ended
Jun. 28, 2025
Restructuring, Integration, and Other  
Schedule of components of the restructuring, integration, and other charges

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Quarter Ended

​

Six Months Ended

​

​

June 28,

​

June 29,

​

June 28,

​

June 29,

(thousands)

    

2025

    

2024

    

2025

    

2024

Restructuring, integration and related costs

​

​

​

​

​

​

​

​

​

​

​

​

Operating Expense Efficiency Plan costs (a)

​

$

19,946

​

$

—

​

$

28,631

​

$

—

Other plans

​

​

582

​

​

464

​

​

1,883

​

​

100

Other expenses

​

​

​

​

​

​

​

​

​

​

​

​

Operating expense reduction costs not related to restructuring initiatives (b)

​

(1,821)

​

​

32,846

​

​

1,928

​

​

75,608

Early lease termination costs

​

​

76

​

​

3,207

​

​

1,331

​

​

6,525

Other charges

​

​

3,136

​

​

4,020

​

​

5,459

​

​

5,160

​

​

$

21,919

​

$

40,537

​

$

39,232

​

$

87,393

(a)See details related to the Operating Expense Efficiency Plan discussed below.
(b)These costs are primarily related to employee severance and benefit costs. As of June 28, 2025, the accrued liabilities related to these costs totaled $7.9 million and substantially all accrued amounts are expected to be spent in cash within one year.
Operating Expense Efficiency Plan costs  
Restructuring, Integration, and Other  
Schedule of components of the restructuring, integration, and other charges

​

​

​

​

​

​

​

​

​

​

​

​

​

​

(thousands)

    

Income Statement Line

    

Quarter Ended
 June 28,
2025

    

Six Months Ended
June 28,
2025

    

Total Cost Incurred to Date

Employee severance and benefit costs

​

​

Restructuring, integration, and other

​

$

12,659

​

$

19,413

​

$

20,761

Inventory (recoveries) write-downs 

​

​

Cost of sales

​

​

(2,172)

​

​

(4,639)

​

​

45,705

Asset impairments

​

​

Restructuring, integration, and other

​

​

-

​

​

-

​

​

1,416

Other costs (a)

​

​

Restructuring, integration, and other

​

​

7,287

​

​

9,218

​

​

16,733

​

​

​

​

​

$

17,774

​

$

23,992

​

$

84,615

(a)Other costs consist primarily of consulting and other professional fees, early lease termination fees, and foreign currency translation adjustment write-offs.
Schedule of activity in the restructuring, integration, and other accruals

​

​

​

​

​

​

​

​

​

​

​

​

​

​

(thousands)

    

Employee Severance and Benefit Costs

    

Inventory Recoveries

    

Other Costs

    

Total

Balance at December 31, 2024

​

$

384

​

$

-

​

$

202

​

$

586

Restructuring related charges

​

​

19,413

​

​

(4,639)

​

​

9,218

​

​

23,992

Cash (payments) receipts

​

​

(10,086)

​

​

4,639

​

​

(4,491)

​

​

(9,938)

Foreign currency translations

​

​

157

​

​

-

​

​

414

​

​

571

Balance at June 28, 2025

​

$

9,868

​

$

-

​

$

5,343

​

$

15,211
v3.25.2
Net Income per Share (Tables)
 6 Months Ended
Jun. 28, 2025
Net Income per Share  
Schedule of computation of net income per share on a basic and diluted basis

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Quarter Ended

​

Six Months Ended

​

​

June 28,

​

June 29,

​

June 28,

​

June 29,

(thousands except per share data)

    

2025

    

2024

    

2025

    

2024

Net income attributable to shareholders

​

$

187,749

​

$

108,698

​

$

267,469

​

$

192,299

Weighted-average shares outstanding - basic

​

 

51,856

​

 

53,640

​

 

52,057

​

 

53,944

Net effect of various dilutive stock-based compensation awards

​

 

486

​

 

541

​

 

447

​

 

552

Weighted-average shares outstanding - diluted

​

 

52,342

​

 

54,181

​

 

52,504

​

 

54,496

Net income per share:

​

 

  

​

 

  

​

 

  

​

 

  

Basic

​

$

3.62

​

$

2.03

​

$

5.14

​

$

3.56

Diluted (a)

​

$

3.59

​

$

2.01

​

$

5.09

​

$

3.53

​

​

​

​

​

​

​

​

​

​

​

​

​

(a) Equity awards excluded from diluted net income per share as their effect would have been anti-dilutive

​

​

28

​

​

-

​

​

57

​

​

-

​
v3.25.2
Shareholders' Equity (Tables)
 6 Months Ended
Jun. 28, 2025
Shareholders' Equity  
Schedule of changes in accumulated other comprehensive income (loss), excluding noncontrolling interests

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Quarter Ended

​

Six Months Ended

​

​

June 28,

​

June 29,

​

June 28,

​

June 29,

(thousands)

    

2025

    

2024

    

2025

    

2024

Foreign Currency Translation Adjustment and Other:

​

  

​

​

  

​

​

  

​

​

  

​

Other comprehensive income (loss) before reclassifications (a)

​

$

261,734

​

$

(24,067)

​

$

392,350

​

$

(122,239)

Amounts reclassified into income

​

 

3,173

​

 

(119)

​

 

3,374

​

 

(74)

(Loss) gain on Foreign Exchange Contracts Designated as Net Investment Hedges, Net:

​

 

  

​

 

  

​

 

​

​

 

  

Other comprehensive (loss) income before reclassifications (b)

​

 

(5,694)

​

 

2,750

​

 

(10,567)

​

 

7,720

Amounts reclassified into income

​

 

(510)

​

 

(1,372)

​

 

(1,589)

​

 

(2,744)

(Loss) gain on Interest Rate Swaps Designated as Cash Flow Hedges, Net:

​

 

  

​

 

  

​

 

  

​

 

  

Amounts reclassified into (loss) income

​

 

(424)

​

 

(226)

​

 

(843)

​

 

303

Post-retirement Expense Items, Net:

​

 

  

​

 

  

​

 

  

​

 

  

Amounts reclassified into income

​

 

(347)

​

 

(502)

​

 

(709)

​

 

(593)

Net change in Accumulated other comprehensive income (loss)

​

$

257,932

​

$

(23,536)

​

$

382,016

​

$

(117,627)

(a)Foreign currency translation adjustment includes intra-entity foreign currency transactions that are of a long-term investment nature of $21.9 million and $34.6 million for the second quarter and first six months of 2025, and ($2.2) million ($9.0) million for the second quarter and first six months of 2024, respectively.
(b)For additional information related to net investment hedges and interest rate swaps refer to Note H.
Schedule of activity in the number of shares outstanding

​

​

​

​

​

​

​

​

​

    

Common 

    

​

    

Common 

​

​

Stock 

​

Treasury 

​

Stock 

(thousands)

​

Issued

​

Stock

​

Outstanding

Common stock outstanding at December 31, 2024

 

55,592

 

3,420

 

52,172

Shares issued for stock-based compensation awards

 

195

 

(28)

 

223

Repurchases of common stock

 

—

 

528

 

(528)

Common stock outstanding at March 29, 2025

 

55,787

 

3,920

 

51,867

Shares issued for stock-based compensation awards

 

28

 

(23)

 

51

Repurchases of common stock

 

—

 

417

 

(417)

Common stock outstanding at June 28, 2025

 

55,815

 

4,314

 

51,501

​

​

​

​

​

​

​

​

​

    

Common 

    

​

    

Common 

​

​

Stock 

​

Treasury 

​

Stock 

(thousands)

​

Issued

​

Stock

​

Outstanding

Common stock outstanding at December 31, 2023

 

57,691

 

3,880

 

53,811

Shares issued for stock-based compensation awards

 

264

 

(57)

 

321

Repurchases of common stock

 

—

 

902

 

(902)

Common stock outstanding at March 30, 2024

 

57,955

 

4,725

 

53,230

Shares issued for stock-based compensation awards

 

91

 

(9)

 

100

Repurchases of common stock

 

—

 

385

 

(385)

Common stock outstanding at June 29, 2024

 

58,046

 

5,101

 

52,945
Schedule of company's share repurchase program

​

​

​

​

​

​

​

​

​

​

​

​

    

​

    

​

    

Approximate

​

​

​

​

​

​

Dollar Value of

​

​

Dollar Value

​

Dollar Value of

​

Shares that May

​

​

Approved for

​

Shares

​

Yet be Purchased

Share Repurchase Details by Month of Board Approval (thousands)

​

Repurchase

​

Repurchased

​

Under the Program

January 2023

​

$

1,000,000

​

$

776,653

​

$

223,347

​
v3.25.2
Segment and Geographic Information (Tables)
 6 Months Ended
Jun. 28, 2025
Segment and Geographic Information  
Schedule of reportable segment

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Quarter Ended

​

Six Months Ended

​

​

June 28,

​

June 29,

​

June 28,

​

June 29,

(thousands)

    

2025

    

2024

    

2025

    

2024

Sales:

 

​

  

 

​

  

 

​

  

 

​

  

Components:

 

​

  

 

​

  

 

​

  

 

​

  

Americas

​

$

1,707,522

​

$

1,572,840

​

$

3,276,092

​

$

3,169,532

EMEA

​

 

1,426,944

​

 

1,439,494

​

 

2,766,945

​

 

3,096,001

Asia/Pacific

​

 

2,150,432

​

 

2,019,697

​

 

4,019,583

​

 

3,957,915

Global components

​

$

5,284,898

​

$

5,032,031

​

$

10,062,620

​

$

10,223,448

​

​

​

​

​

​

​

​

​

​

​

​

​

ECS:

​

 

  

​

 

  

​

 

  

​

 

  

Americas

​

$

1,052,785

​

$

964,070

​

$

1,962,688

​

$

1,871,818

EMEA

​

 

1,242,264

​

 

896,767

​

 

2,368,656

​

 

1,721,862

Global ECS

​

$

2,295,049

​

$

1,860,837

​

$

4,331,344

​

$

3,593,680

Consolidated

​

$

7,579,947

​

$

6,892,868

​

$

14,393,964

​

$

13,817,128

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Quarter Ended

​

Six Months Ended

​

​

June 28,

​

June 29,

​

June 28,

​

June 29,

(thousands)

    

2025

    

2024

 

2025

    

2024

Sales:

 

​

  

 

​

  

​

​

  

 

​

  

China and Hong Kong

​

$

1,090,699

​

$

1,030,610

​

$

2,016,591

​

$

1,994,186

Germany

​

 

793,022

​

 

766,087

​

 

1,510,354

​

 

1,634,515

Other

​

 

3,079,871

​

 

2,725,415

​

 

5,939,222

​

 

5,504,852

Total foreign

​

$

4,963,592

​

$

4,522,112

​

$

9,466,167

​

$

9,133,553

United States

​

 

2,616,355

​

 

2,370,756

​

 

4,927,797

​

 

4,683,575

Total

​

$

7,579,947

​

$

6,892,868

​

$

14,393,964

​

$

13,817,128
Schedule of results of operations by reportable segment

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Quarter Ended

​

​

June 28, 2025

(thousands)

​

Global Components

​

Global ECS

​

Corporate

​

Consolidated

​

Sales

​

$

5,284,898

​

$

2,295,049

​

$

-

​

$

7,579,947

​

Cost of sales

​

​

4,693,444

​

​

2,037,846

​

​

-

​

​

6,731,290

​

Gross profit

​

​

591,454

​

​

257,203

​

​

-

​

​

848,657

​

Gross profit margin

​

​

11.2

%

​

11.2

%

​

-

​

​

11.2

%

Operating expenses (a)

​

​

404,646

​

​

160,234

​

​

93,191

​

​

658,071

​

Operating income (loss) (b) (d)

​

$

186,808

​

$

96,969

​

$

(93,191)

​

$

190,586

​

Operating income margin

​

​

3.5

%

​

4.2

%

​

-

​

​

2.5

%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Quarter Ended

​

​

June 29, 2024

(thousands)

​

Global Components

​

Global ECS

​

Corporate

​

Consolidated

​

Sales

​

$

5,032,031

​

$

1,860,837

​

$

-

​

$

6,892,868

​

Cost of sales

​

​

4,407,171

​

​

1,639,253

​

​

-

​

​

6,046,424

​

Gross profit

​

​

624,860

​

​

221,584

​

​

-

​

​

846,444

​

Gross profit margin

​

​

12.4

%

​

11.9

%

​

-

​

​

12.3

%

Operating expenses (a)

​

​

414,659

​

​

119,003

​

​

100,507

​

​

634,169

​

Operating income (loss) (b) (c) (d)

​

$

210,201

​

$

102,581

​

$

(100,507)

​

$

212,275

​

Operating income margin

​

​

4.2

%

​

5.5

%

​

-

​

​

3.1

%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Six Months Ended

​

​

June 28, 2025

(thousands)

​

Global Components

​

Global ECS

​

Corporate

​

Consolidated

​

Sales

​

$

10,062,620

​

$

4,331,344

​

$

-

​

$

14,393,964

​

Cost of sales

​

​

8,916,221

​

​

3,855,094

​

​

-

​

​

12,771,315

​

Gross profit

​

​

1,146,399

​

​

476,250

​

​

-

​

​

1,622,649

​

Gross profit margin

​

​

11.4

%

​

11.0

%

​

-

​

​

11.3

%

Operating expenses (a)

​

​

788,206

​

​

301,967

​

​

183,337

​

​

1,273,510

​

Operating income (loss) (b) (d)

​

$

358,193

​

$

174,283

​

$

(183,337)

​

$

349,139

​

Operating income margin

​

​

3.6

%

​

4.0

%

​

-

​

​

2.4

%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Six Months Ended

​

​

June 29, 2024

(thousands)

​

Global Components

​

Global ECS

​

Corporate

​

Consolidated

​

Sales

​

$

10,223,448

​

$

3,593,680

​

$

-

​

$

13,817,128

​

Cost of sales

​

​

8,952,874

​

​

3,159,984

​

​

-

​

​

12,112,858

​

Gross profit

​

​

1,270,574

​

​

433,696

​

​

-

​

​

1,704,270

​

Gross profit margin

​

​

12.4

%

​

12.1

%

​

-

​

​

12.3

%

Operating expenses (a)

​

​

834,811

​

​

259,656

​

​

211,611

​

​

1,306,078

​

Operating income (loss) (b) (c) (d)

​

$

435,763

​

$

174,040

​

$

(211,611)

​

$

398,192

​

Operating income margin

​

​

4.3

%

​

4.8

%

​

-

​

​

2.9

%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

(a)Segment operating expenses primarily include employee-related expenses, depreciation and amortization, and allowance for credit losses.
(b)Global components operating income includes recoveries of $2.2 million and $4.6 million in inventory write-downs related to the wind down of a business for the second quarter and first six months of 2025, respectively, and charges of $1.6 million and $12.1 million in inventory write-downs related to the wind down of a business for the second quarter and first six months of 2024, respectively.
(c)Global ECS operating income includes a $20.0 million benefit related to the reversal of an allowance for credit losses for the second quarter and first six months of 2024.
(d)Corporate operating loss includes restructuring, integration, and other charges of $21.9 million and $39.2 million for the second quarter and first six months of 2025, respectively, and $40.5 million and $87.4 million for the second quarter and first six months of 2024, respectively. Refer to Note I.
Schedule of reconciliation of assets from segment to consolidated

​

​

​

​

​

​

​

​

​

​

June 28,

​

December 31,

(thousands)

    

2025

    

2024

Total assets:

 

​

  

 

​

  

Global components

​

$

17,918,136

​

$

14,765,931

Global ECS

​

 

5,829,562

​

 

6,518,723

Corporate

​

 

504,880

​

 

473,053

Consolidated

​

$

24,252,578

​

$

21,757,707
Schedule of long-lived assets by geographical areas

​

​

​

​

​

​

​

​

​

​

June 28,

​

December 31,

(thousands)

    

2025

    

2024

Long-lived assets:

 

​

  

 

​

  

France

​

$

98,176

​

$

86,268

Netherlands

​

​

83,229

​

​

78,120

Germany

​

​

73,892

​

​

61,914

Other

​

 

157,640

​

 

161,989

Total foreign

​

$

412,937

​

$

388,291

United States

​

 

318,244

​

 

332,098

Total

​

$

731,181

​

$

720,389

​
v3.25.2
Goodwill and Intangible Assets - Goodwill (Details) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 28, 2025
Dec. 31, 2024
Goodwill [Roll Forward]    
Goodwill, Beginning balance $ 2,055,295  
Foreign currency translation adjustment 68,699  
Goodwill, Ending balance 2,123,994  
Accumulated impairment charges 1,600,000 $ 1,600,000
Global Components    
Goodwill [Roll Forward]    
Goodwill, Beginning balance 902,445  
Foreign currency translation adjustment 17,189  
Goodwill, Ending balance 919,634  
Accumulated impairment charges 1,300,000 1,300,000
Global ECS    
Goodwill [Roll Forward]    
Goodwill, Beginning balance 1,152,850  
Foreign currency translation adjustment 51,510  
Goodwill, Ending balance 1,204,360  
Accumulated impairment charges $ 301,900 $ 301,900
v3.25.2
Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Jun. 28, 2025
Jun. 29, 2024
Dec. 31, 2024
Goodwill and Intangible Assets          
Gross Carrying Amount $ 266,716   $ 266,716   $ 289,367
Accumulated Amortization (180,164)   (180,164)   (192,661)
Net 86,552   86,552   96,706
Amortization expense, intangible assets 4,900 $ 7,500 10,200 $ 15,000  
Customer relationships          
Goodwill and Intangible Assets          
Gross Carrying Amount 192,715   192,715   215,366
Accumulated Amortization (118,891)   (118,891)   (133,927)
Net 73,824   73,824   81,439
Amortizable trade name          
Goodwill and Intangible Assets          
Gross Carrying Amount 74,001   74,001   74,001
Accumulated Amortization (61,273)   (61,273)   (58,734)
Net $ 12,728   $ 12,728   $ 15,267
v3.25.2
Investments in Affiliated Companies (Details)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 28, 2025
USD ($)
item
Jun. 29, 2024
USD ($)
Jun. 28, 2025
USD ($)
item
Jun. 29, 2024
USD ($)
Dec. 31, 2024
USD ($)
Investments in Affiliated Companies          
Investments in affiliated companies $ 57,766   $ 57,766   $ 57,299
Equity in (losses) earnings of affiliated companies (659) $ 1,254 661 $ 910  
Equity method investment, pro rata share of debt obligations of joint venture 0   0   0
Proceeds from sale of equity method investment 100,000   $ 100,000 0  
Equity method investment, realized gain (loss) on disposal $ 99,000        
Marubun/Arrow          
Investments in Affiliated Companies          
Equity method investment, ownership percentage 50.00%   50.00%    
Number of joint ventures | item 2   2    
Investments in affiliated companies $ 43,300   $ 43,300   43,851
Equity in (losses) earnings of affiliated companies $ (843) 620 $ 65 86  
Other joint venture          
Investments in Affiliated Companies          
Equity method investment, ownership percentage 50.00%   50.00%    
Number of joint ventures | item 1   1    
Investments in affiliated companies $ 14,466   $ 14,466   $ 13,448
Equity in (losses) earnings of affiliated companies $ 184 $ 634 $ 596 $ 824  
v3.25.2
Accounts Receivable (Details)
$ in Thousands, € in Millions
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 28, 2025
USD ($)
Jun. 29, 2024
USD ($)
Jun. 28, 2025
USD ($)
Jun. 29, 2024
USD ($)
Dec. 31, 2024
USD ($)
Jun. 28, 2025
EUR (€)
Accounts Receivable            
Accounts receivable $ 15,393,487   $ 15,393,487   $ 13,147,436  
Allowance for credit losses (122,138)   (122,138)   (116,445)  
Accounts receivable, net 15,271,349   15,271,349   13,030,991  
Allowance for credit losses            
Balance at beginning of period     116,445 $ 146,480 146,480  
Charged to income   $ 8,737   (12,204)    
Translation adjustments     4,362 (1,331)    
Write-offs     (7,406) (15,013)    
Balance at end of period 122,138 117,932 122,138 117,932 116,445  
Reversal of allowance       20,000    
EMEA Asset Securitization            
Agreement amount with purchaser to transfer financial assets accounted for as sales | €           € 600.0
EMEA asset securitization, sales of accounts receivables 416,150 477,779 788,791 1,017,659    
Receivables sold to unaffiliated financial institutions that were uncollected 348,698   348,698   339,669  
Factoring            
Sales of accounts receivables under the factoring programs 389,614 $ 239,631 552,365 $ 447,921    
Receivables sold under the factoring programs that were uncollected     320,759   182,432  
Variable interest entity, primary beneficiary | Asset pledged as collateral            
EMEA Asset Securitization            
Collateralized accounts receivable held by Arrow EMEA funding Corp B.V. $ 618,794   $ 618,794   $ 528,975  
v3.25.2
Supplier Finance Programs (Details) - USD ($)
$ in Millions
Jun. 28, 2025
Dec. 31, 2024
Supplier Finance Programs    
Supplier finance programs obligations $ 797.4 $ 1,300.0
v3.25.2
Debt - ST Debt (Details) - USD ($)
$ in Thousands
Jun. 28, 2025
Dec. 31, 2024
Debt    
Other short-term borrowings $ 48,244 $ 170
Short-term borrowings, including current portion of long-term debt 455,612 349,978
4.00% notes, due April 2025    
Debt    
Short-term borrowings, including current portion of long-term debt $ 0 $ 349,808
Debt instrument, interest rate, stated percentage 4.00%  
Lines of credit    
Debt    
Lines of credit facility, maximum borrowing capacity $ 500,000  
Short-term debt, weighted-average interest rate, at point in time 4.82% 5.18%
Line of credit, current $ 0 $ 0
Commercial paper    
Debt    
Lines of credit facility, maximum borrowing capacity 1,200,000  
Commercial paper 407,400 0
Short-term borrowings, including current portion of long-term debt $ 407,368 $ 0
Short-term debt, weighted-average interest rate, at point in time 4.74% 5.21%
v3.25.2
Debt - LT Debt (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Jun. 28, 2025
Jun. 29, 2024
Dec. 31, 2024
Debt          
Long-term debt $ 2,365,812   $ 2,365,812   $ 2,773,783
Accounts receivable, net 15,271,349   15,271,349   13,030,991
Investment income, interest and dividend 8,400 $ 14,700 18,500 $ 34,200  
Revolving Credit Facility          
Debt          
Maximum borrowing capacity 2,000,000   2,000,000    
Long-term debt $ 0   $ 0   $ 30,000
Debt instrument, interest rate, effective percentage         5.48%
Effective interest rate 5.43%   5.43%    
Facility fee     0.175%    
Derivative, basis spread on variable rate 1.08%   1.08%    
North American asset securitization program          
Debt          
Maximum borrowing capacity $ 1,500,000   $ 1,500,000    
Long-term debt $ 246,000   $ 246,000   $ 633,000
Debt instrument, interest rate, effective percentage 4.83%   4.83%   4.83%
Facility fee     0.40%    
Debt instrument, basis spread on variable rate     0.10%   0.10%
Accounts receivable, net $ 2,800,000   $ 2,800,000   $ 3,000,000
Derivative, basis spread on variable rate 0.40%   0.40%    
7.50% senior debentures, due 2027          
Debt          
Long-term debt $ 110,307   $ 110,307   110,266
Debt instrument, fair value $ 115,000   $ 115,000   115,000
Debt instrument, interest rate, stated percentage 7.50%   7.50%    
3.875% notes, due 2028          
Debt          
Long-term debt $ 498,124   $ 498,124   497,775
Debt instrument, fair value $ 490,000   $ 490,000   481,500
Debt instrument, interest rate, stated percentage 3.875%   3.875%    
5.15% notes, due in 2029          
Debt          
Long-term debt $ 495,669   $ 495,669   495,209
Debt instrument, fair value $ 507,500   $ 507,500   498,000
Debt instrument, interest rate, stated percentage 5.15%   5.15%    
2.95% notes, due 2032          
Debt          
Long-term debt $ 495,851   $ 495,851   495,576
Debt instrument, fair value $ 438,000   $ 438,000   426,000
Debt instrument, interest rate, stated percentage 2.95%   2.95%    
5.875% notes, due 2034          
Debt          
Long-term debt $ 495,205   $ 495,205   494,986
Debt instrument, fair value $ 514,500   $ 514,500   502,500
Debt instrument, interest rate, stated percentage 5.875%   5.875%    
Other obligations with various interest rates and due dates          
Debt          
Other obligations with various interest rates and due dates $ 24,656   $ 24,656   $ 16,971
v3.25.2
Debt - Additional Information (Details)
$ in Millions
 3 Months Ended
Jun. 28, 2025
USD ($)
4.00% notes, due 2025  
Debt Instrument [Line Items]  
Repayment of principal amount $ 350.0
v3.25.2
Financial Instruments Measured at Fair Value (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Jun. 28, 2025
Jun. 29, 2024
Dec. 31, 2024
Financial Instruments Measured at Fair Value          
Debt and equity securities, unrealized gains (losses) $ 700 $ (6,700) $ 500 $ (10,300)  
Marubun          
Financial Instruments Measured at Fair Value          
Equity method investment, ownership percentage 9.00%   9.00%    
Fair value, measurements, recurring          
Financial Instruments Measured at Fair Value          
Cash equivalents $ 15,831   $ 15,831   $ 10,751
Equity investments 41,389   41,389   42,907
Foreign exchange contracts designated as net investment hedges 14,943   14,943   53,679
Total fair value assets and liabilities measured on recurring basis 72,163   72,163   107,337
Fair value, measurements, recurring | Fair value, inputs, level 1          
Financial Instruments Measured at Fair Value          
Cash equivalents 15,831   15,831   10,751
Equity investments 41,389   41,389   42,907
Foreign exchange contracts designated as net investment hedges 0   0   0
Total fair value assets and liabilities measured on recurring basis 57,220   57,220   53,658
Fair value, measurements, recurring | Fair value, inputs, level 2          
Financial Instruments Measured at Fair Value          
Cash equivalents 0   0   0
Equity investments 0   0   0
Foreign exchange contracts designated as net investment hedges 14,943   14,943   53,679
Total fair value assets and liabilities measured on recurring basis 14,943   14,943   53,679
Fair value, measurements, recurring | Fair value, inputs, level 3          
Financial Instruments Measured at Fair Value          
Cash equivalents 0   0   0
Equity investments 0   0   0
Foreign exchange contracts designated as net investment hedges 0   0   0
Total fair value assets and liabilities measured on recurring basis $ 0   $ 0   $ 0
v3.25.2
Financial Instruments Measured at Fair Value - Derivatives (Details)
€ in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 28, 2025
USD ($)
contract
Jun. 29, 2024
USD ($)
Mar. 30, 2024
USD ($)
Jun. 28, 2025
USD ($)
Jun. 29, 2024
USD ($)
Jun. 28, 2025
EUR (€)
Dec. 31, 2024
USD ($)
Dec. 31, 2024
EUR (€)
Financial Instruments Measured at Fair Value                
Derivative, Notional Amount $ 1,000,000     $ 1,000,000     $ 1,100,000  
Derivative Instruments, Gain (Loss) Recognized in Income 1,228 $ 2,101   3,195 $ 3,664      
Derivative Gain (Loss) Recognized in Other Comprehensive Income (Loss) before reclassifications, net of tax (5,694) 2,750   (10,567) 7,720      
Proceeds from settlement of net investment hedges 24,900     24,858 0      
Other comprehensive income (loss), derivative, excluded component, increase (decrease), before adjustments, after tax (13,000) 1,300   (10,800) 1,400      
Change in unrealized gain (loss) on hedged item in fair value hedge     $ (400)          
Foreign exchange forward                
Financial Instruments Measured at Fair Value                
Derivative, Notional Amount | €           € 100,000   € 200,000
Net investment hedge | Designated as hedging instrument                
Financial Instruments Measured at Fair Value                
Derivative Instruments, Gain (Loss) Recognized in Income 671 1,804   2,088 3,608      
Derivative Gain (Loss) Recognized in Other Comprehensive Income (Loss) before reclassifications, net of tax $ (5,694) 2,750   (10,567) 7,720      
Number of derivative contracts matured | contract 2              
Cash flow hedging | Designated as hedging instrument | Interest rate swap                
Financial Instruments Measured at Fair Value                
Derivative Instruments, Gain (Loss) Recognized in Income $ 557 297   1,107 (398)      
Fair value hedging | Designated as hedging instrument | Interest rate swap                
Financial Instruments Measured at Fair Value                
Derivative Instruments, Gain (Loss) Recognized in Income $ 0 $ 0   $ 0 $ 454      
Maturity April 2025 | Foreign exchange forward                
Financial Instruments Measured at Fair Value                
Derivative, Notional Amount | €               100,000
Maturity January 2028 | Foreign exchange forward                
Financial Instruments Measured at Fair Value                
Derivative, Notional Amount | €           € 100,000   € 100,000
v3.25.2
Restructuring, Integration, and Other - Components of the Restructuring, Integration, and Other Accruals (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Jun. 28, 2025
Jun. 29, 2024
Dec. 31, 2024
Restructuring, Integration, and Other          
Restructuring, integration, and other $ 21,919 $ 40,537 $ 39,232 $ 87,393  
Operating expense reduction costs not related to restructuring initiatives (1,821) 32,846 1,928 75,608  
Early lease termination costs 76 3,207 1,331 6,525  
Other charges 3,136 4,020 5,459 5,160  
Accrued liabilities related to operating expense reduction initiatives 7,900   7,900    
Operating Expense Efficiency Plan costs          
Restructuring, Integration, and Other          
Restructuring, integration, and other 19,946 0 28,631 0  
Accrued liabilities related to operating expense reduction initiatives 15,211   15,211   $ 586
Other plans          
Restructuring, Integration, and Other          
Restructuring, integration, and other $ 582 $ 464 $ 1,883 $ 100  
v3.25.2
Restructuring, Integration, and Other - Narrative (Details) - USD ($)
$ in Millions
 6 Months Ended
Jun. 28, 2025
Dec. 31, 2026
Restructuring, Integration, and Other    
Number of years for the accrual to be spent 1 year  
Operating Expense Efficiency Plan costs    
Restructuring, Integration, and Other    
Number of years for the accrual to be spent 1 year  
Operating Expense Efficiency Plan costs | Forecast    
Restructuring, Integration, and Other    
Expected pre-tax restructuring charges   $ 185.0
Operating Expense Efficiency Plan costs | Employee severance and other personal cash expenditures | Forecast    
Restructuring, Integration, and Other    
Expected pre-tax restructuring charges   80.0
Operating Expense Efficiency Plan costs | Non-cash asset impairments, inventory write-downs and foreign currency translation adjustment write-offs | Forecast    
Restructuring, Integration, and Other    
Expected pre-tax restructuring charges   80.0
Operating Expense Efficiency Plan costs | Other related cash expenditures | Forecast    
Restructuring, Integration, and Other    
Expected pre-tax restructuring charges   $ 25.0
v3.25.2
Restructuring, Integration, and Other - Costs Related to the Operating Expense Efficiency Plan (Details) - Operating Expense Efficiency Plan costs
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 28, 2025
USD ($)
Jun. 28, 2025
USD ($)
Restructuring, Integration, and Other    
Restructuring related charges $ 17,774 $ 23,992
Total Cost Incurred to Date 84,615 84,615
Employee Severance and Benefit Costs    
Restructuring, Integration, and Other    
Restructuring related charges 12,659 19,413
Total Cost Incurred to Date 20,761 20,761
Inventory (recoveries) write-downs    
Restructuring, Integration, and Other    
Restructuring related charges (2,172) (4,639)
Total Cost Incurred to Date 45,705 45,705
Asset impairments    
Restructuring, Integration, and Other    
Restructuring related charges   0
Total Cost Incurred to Date 1,416 1,416
Other Costs    
Restructuring, Integration, and Other    
Restructuring related charges 7,287 9,218
Total Cost Incurred to Date $ 16,733 $ 16,733
v3.25.2
Restructuring, Integration, and Other - Activity in the Restructuring and Integration Accruals (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 28, 2025
Jun. 28, 2025
Restructuring, Integration, and Other    
Ending balance $ 7,900 $ 7,900
Operating Expense Efficiency Plan costs    
Restructuring, Integration, and Other    
Beginning balance   586
Restructuring related charges 17,774 23,992
Cash (payments) receipts   (9,938)
Foreign currency translations   571
Ending balance 15,211 15,211
Operating Expense Efficiency Plan costs | Employee Severance and Benefit Costs    
Restructuring, Integration, and Other    
Beginning balance   384
Restructuring related charges 12,659 19,413
Cash (payments) receipts   (10,086)
Foreign currency translations   157
Ending balance 9,868 9,868
Operating Expense Efficiency Plan costs | Inventory Recoveries    
Restructuring, Integration, and Other    
Beginning balance   0
Restructuring related charges   (4,639)
Cash (payments) receipts   4,639
Foreign currency translations   0
Ending balance 0 0
Operating Expense Efficiency Plan costs | Other Costs    
Restructuring, Integration, and Other    
Beginning balance   202
Restructuring related charges 7,287 9,218
Cash (payments) receipts   (4,491)
Foreign currency translations   414
Ending balance $ 5,343 $ 5,343
v3.25.2
Net Income per Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Jun. 28, 2025
Jun. 29, 2024
Net Income per Share        
Net income attributable to shareholders $ 187,749 $ 108,698 $ 267,469 $ 192,299
Weighted-average shares outstanding - basic 51,856 53,640 52,057 53,944
Net effect of various dilutive stock-based compensation awards 486 541 447 552
Weighted-average shares outstanding - diluted 52,342 54,181 52,504 54,496
Net income per share:        
Basic $ 3.62 $ 2.03 $ 5.14 $ 3.56
Diluted (a) $ 3.59 $ 2.01 $ 5.09 $ 3.53
(a) Equity awards excluded from diluted net income per share as their effect would have been anti-dilutive 28 0 57 0
v3.25.2
Shareholders' Equity - Components of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Jun. 28, 2025
Jun. 29, 2024
Shareholders' Equity        
Foreign Currency Translation Adjustment and Other $ 268,554 $ (24,416) $ 401,262 $ (123,691)
(Loss) gain on Foreign Exchange Contracts Designated as Net Investment Hedges, Net (6,204) 1,378 (12,156) 4,976
(Loss) gain on Interest Rate Swaps Designated as Cash Flow Hedges, Net (424) (226) (843) 303
Post-retirement Expense Items, Net 347 502 709 593
Net change in Accumulated other comprehensive income (loss) 257,932 (23,536) 382,016 (117,627)
Other comprehensive (loss) income before reclassifications        
Shareholders' Equity        
Foreign Currency Translation Adjustment and Other 261,734 (24,067) 392,350 (122,239)
(Loss) gain on Foreign Exchange Contracts Designated as Net Investment Hedges, Net (5,694) 2,750 (10,567) 7,720
Amounts reclassified into income        
Shareholders' Equity        
Foreign Currency Translation Adjustment and Other 3,173 (119) 3,374 (74)
(Loss) gain on Foreign Exchange Contracts Designated as Net Investment Hedges, Net (510) (1,372) (1,589) (2,744)
(Loss) gain on Interest Rate Swaps Designated as Cash Flow Hedges, Net (424) (226) (843) 303
Post-retirement Expense Items, Net (347) (502) (709) (593)
Intra-entity foreign currency transactions | Other comprehensive (loss) income before reclassifications        
Shareholders' Equity        
Foreign Currency Translation Adjustment and Other $ 21,900 $ (2,200) $ 34,600 $ (9,000)
v3.25.2
Shareholders' Equity - Common Stock Outstanding Activity (Details) - shares
shares in Thousands
 3 Months Ended
Jun. 28, 2025
Mar. 29, 2025
Jun. 29, 2024
Mar. 30, 2024
Common Stock Issued        
Common stock outstanding, Beginning balance 55,787 55,592 57,955 57,691
Shares issued for stock-based compensation awards 28 195 91 264
Repurchases of common stock 0 0 0 0
Common stock outstanding, Ending balance 55,815 55,787 58,046 57,955
Treasury Stock        
Common stock outstanding, Beginning balance 3,920 3,420 4,725 3,880
Shares issued for stock-based compensation awards (23) (28) (9) (57)
Repurchases of common stock (417) (528) (385) (902)
Common stock outstanding, Ending balance 4,314 3,920 5,101 4,725
Common Stock Outstanding        
Common stock outstanding, Beginning balance 51,867 52,172 53,230 53,811
Shares issued for stock-based compensation awards 51 223 100 321
Repurchases of common stock (417) (528) (385) (902)
Common stock outstanding, Ending balance 51,501 51,867 52,945 53,230
v3.25.2
Shareholders' Equity - Share Repurchase Programs (Details) - USD ($)
$ in Thousands, shares in Millions
 3 Months Ended 6 Months Ended
Jun. 28, 2025
Jun. 28, 2025
Jun. 29, 2024
Share Repurchase Programs      
Payments for repurchase of common stock   $ 110,149 $ 163,301
January 2023      
Share Repurchase Programs      
Dollar Value Approved for Repurchase $ 1,000,000 1,000,000  
Dollar Value of Shares Repurchased 776,653 776,653  
Approximate dollar value of shares that may yet be purchased under the program $ 223,347 $ 223,347  
Share repurchase program      
Share Repurchase Programs      
Stock repurchased during period, shares 0.4 0.9  
Payments for repurchase of common stock $ 50,000 $ 99,900  
Excise tax share repurchases      
Share Repurchase Programs      
Excise tax on share repurchase   $ 800  
v3.25.2
Contingencies (Details)
$ in Millions
 6 Months Ended
Jun. 28, 2025
USD ($)
Contingencies  
Environmental liabilities $ 23.5
Environmental Loss Contingency, Statement of Financial Position [Extensible Enumeration] Accrued Liabilities, Current, Other Liabilities, Noncurrent
Recovery of direct costs $ 157.4
Huntsville Site  
Contingencies  
Environmental remediation expense to date 9.2
Project expenditures, low estimate 5.2
Project expenditures, high estimate 16.9
Norco Site  
Contingencies  
Environmental remediation expense to date 87.6
Project expenditures, low estimate 18.3
Project expenditures, high estimate $ 34.4
v3.25.2
Segment and Geographic Information (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Jun. 28, 2025
Jun. 29, 2024
Sales:        
Sales $ 7,579,947 $ 6,892,868 $ 14,393,964 $ 13,817,128
China and Hong Kong        
Sales:        
Sales 1,090,699 1,030,610 2,016,591 1,994,186
Germany        
Sales:        
Sales 793,022 766,087 1,510,354 1,634,515
Other        
Sales:        
Sales 3,079,871 2,725,415 5,939,222 5,504,852
Non-US        
Sales:        
Sales 4,963,592 4,522,112 9,466,167 9,133,553
United States        
Sales:        
Sales 2,616,355 2,370,756 4,927,797 4,683,575
Operating segments        
Sales:        
Sales 7,579,947 6,892,868 14,393,964 13,817,128
Global components | Operating segments        
Sales:        
Sales 5,284,898 5,032,031 10,062,620 10,223,448
Global components | Operating segments | Americas        
Sales:        
Sales 1,707,522 1,572,840 3,276,092 3,169,532
Global components | Operating segments | EMEA        
Sales:        
Sales 1,426,944 1,439,494 2,766,945 3,096,001
Global components | Operating segments | Asia/Pacific        
Sales:        
Sales 2,150,432 2,019,697 4,019,583 3,957,915
Global ECS | Operating segments        
Sales:        
Sales 2,295,049 1,860,837 4,331,344 3,593,680
Global ECS | Operating segments | Americas        
Sales:        
Sales 1,052,785 964,070 1,962,688 1,871,818
Global ECS | Operating segments | EMEA        
Sales:        
Sales $ 1,242,264 $ 896,767 $ 2,368,656 $ 1,721,862
v3.25.2
Segment and Geographic Information - Operations by Reportable Segment (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Jun. 28, 2025
Jun. 29, 2024
Segment and geographic information        
Sales $ 7,579,947 $ 6,892,868 $ 14,393,964 $ 13,817,128
Cost of sales 6,731,290 6,046,424 12,771,315 12,112,858
Gross profit 848,657 846,444 1,622,649 1,704,270
Operating expenses 658,071 634,169 1,273,510 1,306,078
Operating income (loss) 190,586 212,275 349,139 398,192
Restructuring, integration, and other 21,919 40,537 39,232 87,393
Other charges related to termination of personnel (1,821) 32,846 1,928 75,608
Operating segments        
Segment and geographic information        
Sales 7,579,947 6,892,868 14,393,964 13,817,128
Cost of sales 6,731,290 6,046,424 12,771,315 12,112,858
Gross profit $ 848,657 $ 846,444 $ 1,622,649 $ 1,704,270
Gross profit margin 11.20% 12.30% 11.30% 12.30%
Operating expenses $ 658,071 $ 634,169 $ 1,273,510 $ 1,306,078
Operating income (loss) $ 190,586 $ 212,275 $ 349,139 $ 398,192
Operating income margin 2.50% 3.10% 2.40% 2.90%
Global Components        
Segment and geographic information        
Reversal of inventory down $ 2,200   $ 4,600  
Inventory write downs   $ 1,600   $ 12,100
Global Components | Operating segments        
Segment and geographic information        
Sales 5,284,898 5,032,031 10,062,620 10,223,448
Cost of sales 4,693,444 4,407,171 8,916,221 8,952,874
Gross profit $ 591,454 $ 624,860 $ 1,146,399 $ 1,270,574
Gross profit margin 11.20% 12.40% 11.40% 12.40%
Operating expenses $ 404,646 $ 414,659 $ 788,206 $ 834,811
Operating income (loss) $ 186,808 $ 210,201 $ 358,193 $ 435,763
Operating income margin 3.50% 4.20% 3.60% 4.30%
Global ECS        
Segment and geographic information        
Increase in charges to increase allowance for credit losses   $ 20,000   $ 20,000
Global ECS | Operating segments        
Segment and geographic information        
Sales $ 2,295,049 1,860,837 $ 4,331,344 3,593,680
Cost of sales 2,037,846 1,639,253 3,855,094 3,159,984
Gross profit $ 257,203 $ 221,584 $ 476,250 $ 433,696
Gross profit margin 11.20% 11.90% 11.00% 12.10%
Operating expenses $ 160,234 $ 119,003 $ 301,967 $ 259,656
Operating income (loss) $ 96,969 $ 102,581 $ 174,283 $ 174,040
Operating income margin 4.20% 5.50% 4.00% 4.80%
Corporate        
Segment and geographic information        
Restructuring, integration, and other $ 21,900 $ 40,500 $ 39,200 $ 87,400
Corporate | Operating segments        
Segment and geographic information        
Operating expenses 93,191 100,507 183,337 211,611
Operating income (loss) $ (93,191) $ (100,507) $ (183,337) $ (211,611)
v3.25.2
Segment and Geographic Information - Geographic Sales and Long-Lived Assets (Details) - USD ($)
$ in Thousands
Jun. 28, 2025
Dec. 31, 2024
Revenues from external customers and long-lived assets    
Assets $ 24,252,578 $ 21,757,707
Long-lived assets 731,181 720,389
Global Components | Operating Segments [Member]    
Revenues from external customers and long-lived assets    
Assets 17,918,136 14,765,931
Global ECS | Operating Segments [Member]    
Revenues from external customers and long-lived assets    
Assets 5,829,562 6,518,723
Corporate    
Revenues from external customers and long-lived assets    
Assets 504,880 473,053
France    
Revenues from external customers and long-lived assets    
Long-lived assets 98,176 86,268
Netherlands    
Revenues from external customers and long-lived assets    
Long-lived assets 83,229 78,120
Germany    
Revenues from external customers and long-lived assets    
Long-lived assets 73,892 61,914
Other    
Revenues from external customers and long-lived assets    
Long-lived assets 157,640 161,989
Non-US    
Revenues from external customers and long-lived assets    
Long-lived assets 412,937 388,291
United States    
Revenues from external customers and long-lived assets    
Long-lived assets $ 318,244 $ 332,098