Arrow Electronics, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Arrow Electronics, Inc. has filed its 2023 10-K report detailing its financial performance and position.</b>

AI Summary

ARROW ELECTRONICS, INC. (ARW) filed a Annual Report (10-K) with the SEC on February 13, 2024. Arrow Electronics, Inc. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The filing provides comprehensive financial data and business operations for the fiscal year 2023. Key financial statement details, including balance sheets, income statements, and cash flow statements, are included. The report details the company's financial position, including assets, liabilities, and equity as of December 31, 2023. Information on stock activity, including common stock and treasury stock, for the fiscal years 2021, 2022, and 2023 is presented.

Why It Matters

For investors and stakeholders tracking ARROW ELECTRONICS, INC., this filing contains several important signals. This 10-K filing provides investors with a detailed overview of Arrow Electronics' financial health and operational performance throughout 2023, enabling informed investment decisions. The comprehensive data within the report allows for analysis of trends, risks, and strategic initiatives undertaken by the company during the fiscal year.

Risk Assessment

Risk Level: medium — ARROW ELECTRONICS, INC. shows moderate risk based on this filing. The filing is a standard annual report (10-K), which is routine for public companies. However, the sheer volume of data and the complexity of financial reporting introduce inherent risks in interpretation and potential for unforeseen financial events.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to assess Arrow Electronics' performance and outlook for the upcoming fiscal year.

Key Numbers

• 2023-12-31 — Fiscal Year End (Report period)
• 2024-02-13 — Filing Date (Date of submission)
• 0000007536 — Central Index Key (Company identifier)
• 5065 — Standard Industrial Classification (Industry code)

Key Players & Entities

• ARROW ELECTRONICS, INC. (company) — Filer name
• ARW (company) — Ticker symbol
• 2023-12-31 (date) — Fiscal year end
• 2024-02-13 (date) — Filing date
• 9201 EAST DRY CREEK ROAD (address) — Business address
• CENTENNIAL (location) — Business address city
• CO (location) — Business address state
• 80112 (postal_code) — Business address zip

Forward-Looking Statements

• Arrow Electronics will continue to manage its credit loss allowances actively in the next fiscal year. (ARROW ELECTRONICS, INC.) — medium confidence, target: 2024-12-31
• The company's treasury stock activities will remain a focus for capital management. (ARROW ELECTRONICS, INC.) — medium confidence, target: 2024-12-31

FAQ

Risk Factors

• Financial Risks [medium — financial]: The company's financial performance is subject to various risks, including market fluctuations, interest rate changes, and credit risks.
• Operational Risks [medium — operational]: Disruptions in the supply chain, cybersecurity threats, and integration of acquisitions pose operational risks to the company.
• Regulatory Compliance [medium — regulatory]: Changes in laws and regulations, particularly those affecting international trade and data privacy, could impact the company's operations and profitability.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-02-13: Filing Date — Date the 10-K was officially submitted to the SEC.

Key Financial Figures

• $1 — ange on which registered Common Stock, $1 par value ARW New York Stock Exchan

Filing Documents

• arw-20231231x10k.htm (10-K) — 3295KB
• arw-20231231xex10dgix.htm (EX-10.(G)(IX)) — 31KB
• arw-20231231xex10dgx.htm (EX-10.(G)(X)) — 20KB
• arw-20231231xex21.htm (EX-21) — 151KB
• arw-20231231xex23.htm (EX-23) — 5KB
• arw-20231231xex31dia.htm (EX-31.IA) — 13KB
• arw-20231231xex31dib.htm (EX-31.IB) — 13KB
• arw-20231231xex32di.htm (EX-32.I) — 7KB
• arw-20231231xex32dii.htm (EX-32.II) — 7KB
• arw-20231231xex97.htm (EX-97) — 39KB
• arw-20231231x10k002.jpg (GRAPHIC) — 55KB
• arw-20231231xex10dgix001.jpg (GRAPHIC) — 5KB
• arw-20231231xex10dgx001.jpg (GRAPHIC) — 5KB
• 0001558370-24-001018.txt (&nbsp;) — 14396KB
• arw-20231231.xsd (EX-101.SCH) — 71KB
• arw-20231231_cal.xml (EX-101.CAL) — 80KB
• arw-20231231_def.xml (EX-101.DEF) — 309KB
• arw-20231231_lab.xml (EX-101.LAB) — 804KB
• arw-20231231_pre.xml (EX-101.PRE) — 548KB
• arw-20231231x10k_htm.xml (XML) — 2928KB

Business

Business 3 Item 1A.

Risk Factors

Risk Factors 9 Item 1B. Unresolved Staff Comments 19 Item 1C. Cybersecurity 19 Item 2.

Properties

Properties 20 Item 3.

Legal Proceedings

Legal Proceedings 20 Item 4. Mine Safety Disclosures 21 PART II Item 5. Market for Registrants Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 21 Item 6. [Reserved] 23 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 24 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 38 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 40 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 78 Item 9A.

Controls and Procedures

Controls and Procedures 78 Item 9B. Other Information 80 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 80 PART III Item 10. Directors, Executive Officers and Corporate Governance 80 Item 11.

Executive Compensation

Executive Compensation 80 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 81 Item 13. Certain Relationships and Related Transactions, and Director Independence 81 Item 14. Principal Accounting Fees and Services 81 PART IV Item 15. Exhibits and Financial Statement Schedules 82 Item 16. 10-K Summary 90

Signatures

Signatures 91 2 Table of Contents PART I

Business

Item 1. Business . Arrow Electronics, Inc. (the "company" or "Arrow") is a global provider of products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions. The company has one of the world's broadest portfolios of product offerings available from leading electronic components and enterprise computing solutions suppliers. Coupled with a range of services, solutions, and software, the company helps industrial and commercial customers introduce innovative products, reduce their time to market, and enhance their overall competitiveness. Arrow was incorporated in New York in 1946. Arrow's diverse worldwide customer base consists of original equipment manufacturers ("OEMs"), value-added resellers ("VARs"), managed service providers ("MSPs"), contract manufacturers ("CMs"), and other commercial customers. These customers include manufacturers of industrial equipment (such as machine tools, factory automation, and robotic equipment) and products serving industries ranging from industrial, automotive and transportation, telecommunications, and consumer electronics, among others. The company has two reportable segments, the global components business and the global enterprise computing solutions ("ECS") business. The company distributes electronic components to OEMs and CMs through its global components reportable segment and provides enterprise computing solutions to VARs and MSPs through its global ECS reportable segment. For 2023, approximately 77% of the company's sales were from the global components reportable segment, and approximately 23% of the company's sales were from the global ECS reportable segment. The financial information about the company's reportable segments and geographic operations is found in Note 16 to the consolidated financial statements. The company maintains over 180 sales facilities and 39 distribution and value-added centers, serving over 85 countries. The company has operati

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View this 10-K filing on SEC EDGAR