TD SYNNEX Corp. Files 2024 10-K

TL;DR

TD SYNNEX filed its 2024 10-K. All systems go.

AI Summary

TD SYNNEX Corp. filed its 2024 10-K on January 24, 2025, reporting on its fiscal year ending November 30, 2024. The company, formerly known as SYNNEX Corp, is incorporated in Delaware and headquartered in Fremont, California. Its primary business is in wholesale computer and peripheral equipment and software distribution.

Why It Matters

This filing provides a comprehensive overview of TD SYNNEX Corp.'s financial performance and business operations for the fiscal year 2024, crucial for investors and stakeholders to assess the company's health and future prospects.

Risk Assessment

Risk Level: low — The filing is a standard annual report and does not indicate any immediate or unusual risks.

Key Numbers

• 2024-11-30 — Fiscal Year End (Reporting period for the 10-K)
• 2025-01-24 — Filing Date (Date the 10-K was submitted to the SEC)

Key Players & Entities

• TD SYNNEX CORP (company) — Filer
• SYNNEX CORP (company) — Former company name
• 2024-11-30 (date) — Fiscal year end
• 2025-01-24 (date) — Filing date
• 44201 NOBEL DRIVE, FREMONT, CA 94538 (address) — Business and mailing address

FAQ

Key Financial Figures

• $0.001 — ich registered Common Stock, par value $0.001 per share SNX The New York Stock Exchan

Filing Documents

• snx-20241130.htm (10-K) — 2183KB
• snx-20241120xex1059xamendm.htm (EX-10.59) — 12KB
• ex1060noticeofrestrictedst.htm (EX-10.60) — 41KB
• ex1061tdsynnex-noticeofres.htm (EX-10.61) — 45KB
• ex1062noticeofrsuawardandr.htm (EX-10.62) — 48KB
• ex1063noticeofrsuawardandr.htm (EX-10.63) — 51KB
• ex1064noticeofrsuawardandr.htm (EX-10.64) — 50KB
• ex1065noticeofrsuawardandr.htm (EX-10.65) — 52KB
• ex1066tdsynnex-2020stockin.htm (EX-10.66) — 12KB
• snx-20241120xex191xinsider.htm (EX-19.1) — 52KB
• snx-20241130x10kex211.htm (EX-21.1) — 108KB
• snx-20241130x10kex231.htm (EX-23.1) — 2KB
• snx-20241130x10kex311.htm (EX-31.1) — 10KB
• snx-20241130x10kex312.htm (EX-31.2) — 10KB
• snx-20241130x10kex321.htm (EX-32.1) — 5KB
• snx-20241130_g1.jpg (GRAPHIC) — 29KB
• snx-20241130_g2.jpg (GRAPHIC) — 155KB
• tdsynnex_logoxstandard2a.jpg (GRAPHIC) — 23KB
• 0001177394-25-000009.txt ( ) — 13353KB
• snx-20241130.xsd (EX-101.SCH) — 80KB
• snx-20241130_cal.xml (EX-101.CAL) — 106KB
• snx-20241130_def.xml (EX-101.DEF) — 456KB
• snx-20241130_lab.xml (EX-101.LAB) — 1000KB
• snx-20241130_pre.xml (EX-101.PRE) — 791KB
• snx-20241130_htm.xml (XML) — 1885KB

Business

Business 3 Item 1A.

Risk Factors

Risk Factors 13 Item 1B. Unresolved Staff Comments 26 Item 1C. C ybersecurity 27 Item 2.

Properties

Properties 28 Item 3.

Legal Proceedings

Legal Proceedings 28 Item 4. Mine Safety Disclosures 28 PART II 29 Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 29 Item 6. [Reserved] 30 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 31 Item 7A.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 46 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 47 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 87 Item 9A.

Controls and Procedures

Controls and Procedures 87 Item 9B. Other Information 88 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 88 PART III 89 Item 10. Directors, Executive Officers and Corporate Governance 89 Item 11.

Executive Compensation

Executive Compensation 89 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 89 Item 13. Certain Relationships and Related Transactions, and Director Independence 90 Item 14. Principal Accountant Fees and Services 90 PART IV 91 Item 15. Exhibits and Financial Statement Schedules 91 Item 16. Form 10-K Summary 96 2 Table of Contents PART I When used in this Annual Report on Form 10-K (this "Report"), the words "anticipates," "believes," "estimates," "expects," "intends," "allows," "can," "may," "could,'' "designed," "will," and similar expressions are intended to identify forward-looking statements. These are statements that relate to future periods and include statements about our business model and our services, our business and market strategy, future growth, demand, our infrastructure, our investment in our information technology, or IT, systems, our co-worker hiring and retention, our revenue, sources of revenue, our gross margins, our operating costs and results, timing of payment, the value of our inventory, our competition, our future needs and sources for additional financing, contract terms, relationships with our suppliers, adequacy of our facilities, our legal proceedings, our operations, foreign currency exchange rates and hedging activities, our strategic acquisitions including anticipated cost savings and other benefits, our goodwill, seasonality of sales, adequacy of our cash resources, our debt and financing arrangements, including our supplier finance programs, the impact of any change to our credit rating, interest rate risk and impact thereof, cash held by our international subsidiaries and repatriation, changes in fair value of derivative instruments, our tax liabilities, adequacy of our disclosure controls and procedures, cybersecurity and cyberattacks, impact of our pricing policies, impact of economic and industry trends, changes to the markets in which we compete, impact of new reporting rules and a

Business

Item 1. Business Overview We are a Fortune 100 corporation and a leading global distributor and solutions aggregator for the information technology ("IT") ecosystem. We serve a critical role, bringing products from the world's leading and emerging technology vendors to market, and helping our customers create solutions best suited to maximize business outcomes for their end-user customers. We aggregate and distribute IT hardware, software, and systems including personal computing devices and peripherals, mobile phones and accessories, printers, server and datacenter infrastructure, hybrid cloud, security, networking, communications and storage solutions, and system components. We also design and deliver purpose-built server, storage and networking solutions for the hyperscale infrastructure market. We operate in three reportable segments based on our geographic regions: the Americas, Europe and Asia-Pacific and Japan ("APJ"). 3 Table of Contents We have been in business since 1980 and have headquarters in both Clearwater, Florida and Fremont, California. We were originally incorporated in the State of California as COMPAC Microelectronics, Inc. in November 1980, and we changed our name to SYNNEX Information Technologies, Inc. in February 1994. We later reincorporated in the State of Delaware under the name of SYNNEX Corporation in October 2003. On March 22, 2021, we entered into an agreement and plan of merger (the "Merger Agreement") which provided that legacy SYNNEX Corporation would acquire legacy Tech Data Corporation, a Florida corporation ("Tech Data") through a series of mergers, which would result in Tech Data becoming an indirect subsidiary of TD SYNNEX Corporation (collectively, the "Merger"). The Merger was completed on September 1, 2021. On October 22, 2021, as a result of the Merger we filed with the Secretary of State of the State of Delaware a Certificate of Amendment to the Company's Restated Certificate of Incorporation to change our corpora

View Full Filing

View this 10-K filing on SEC EDGAR