Tech Data 2015 Annual Report Download

Download and view the complete annual report

Please find the complete 2015 Tech Data annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 112

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112

TECH DATA CORP
FORM 10-K
(Annual Report)
Filed 03/26/15 for the Period Ending 01/31/15
Address 5350 TECH DATA DR
CLEARWATER, FL 33760
Telephone 7275397429
CIK 0000790703
Symbol TECD
SIC Code
5045 - Computers and Computer Peripheral Equipment and Software
Industry Computer Hardware
Sector Technology
Fiscal Year 01/31
http://www.edgar-online.com
© Copyright 2015, EDGAR Online, Inc. All Rights Reserved.
Distribution and use of this document restricted under EDGAR Online, Inc. Terms of Use.

Table of contents

  • Page 1
    ... 10-K (Annual Report) Filed 03/26/15 for the Period Ending 01/31/15 Address Telephone CIK Symbol SIC Code Industry Sector Fiscal Year 5350 TECH DATA DR CLEARWATER, FL 33760 7275397429 0000790703 TECD 5045 - Computers and Computer Peripheral Equipment and Software Computer Hardware Technology 01/31...

  • Page 2
    ... (I.R.S. Employer Identification Number) 5350 Tech Data Drive Clearwater, Florida (Address of principal executive offices) 33760 (Zip Code) (Registrant's Telephone Number, including Area Code): (727) 539-7429 Securities registered pursuant to Section 12(b) of the Act: Common stock, par value...

  • Page 3
    ...476,266 based on the reported last sale price of common stock on July 31, 2014 which is the last business day of the registrant's most recently completed second fiscal quarter. Indicate the number of shares outstanding of each of the registrant's classes of common stock, as of the latest practicable...

  • Page 4
    ... 67 Directors, Executive Officers and Corporate Governance Executive Compensation Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters Certain Relationships and Related Transactions, and Director Independence Principal Accountant Fees and Services 67 67 68...

  • Page 5
    ... and shipped to our customers. Products are generally shipped from regionally located logistics centers the same day the orders are received. In addition, execution is marked by a high level of service provided to our customers through our company's technical, sales and marketing support, electronic...

  • Page 6
    ...fourth quarter of fiscal 2014, we acquired Brightstar's fifty percent ownership interest in TDMobility. In fiscal 2013, we completed the acquisition of several distribution companies of Specialist Distribution Group (collectively "SDG"), the distribution arm of Specialist Computer Holdings PLC ("SCH...

  • Page 7
    ..., new product offerings and supply and demand fluctuations within our operating regions. Our consolidated net sales for fiscal 2015, 2014 and 2013 within our strategic focus categories approximated the following: 2015 2014 2013 Broadline Data Center Software Mobility Consumer Electronics Our...

  • Page 8
    ... in stock and the customer has available credit, customer orders are generally shipped the same day from the logistics center nearest the customer or the intended end-user. Customers often utilize our electronic ordering and information systems. Through our website, customers can gain remote access...

  • Page 9
    ...Form 8-K and any amendments to previously filed reports may be accessed, free of charge. Information on Tech Data's website is not incorporated into this Form 10-K or the Company's other securities filings and is not a part of them. Executive Officers The following table sets forth the name, age and...

  • Page 10
    ... became a U.S. citizen in 2006. Alain Amsellem, Senior Vice President and Chief Financial Officer, Europe , joined the Company in 1994 through Tech Data's acquisition of French distributor, Softmart International S.A. and served as France Finance Director until September 1999 when he was promoted to...

  • Page 11
    ...holds a Bachelor of Science Degree in Accounting from Florida State University. David R. Vetter, Senior Vice President, General Counsel and Secretary , joined the Company in June 1993 as Vice President and General Counsel and was promoted to Corporate Vice President and General Counsel in April 2000...

  • Page 12
    ... its internal information and telecommunications systems to operate its business. Failures of our internal information or telecommunications systems may prevent us from taking customer orders, shipping products and billing customers. Sales may also be impacted if our customers are unable to access...

  • Page 13
    ...capital to operate and to finance accounts receivable and product inventory that are not financed by trade creditors. The Company has historically relied upon cash generated from operations, bank credit lines, trade credit from vendors, proceeds from public offerings of its common stock and proceeds...

  • Page 14
    ... 2. Properties. Our executive offices are located in Clearwater, Florida. As of January 31, 2015, we operated a total of 26 logistics centers to provide our customers timely delivery of products. Fourteen of these logistics centers are located in the Americas and twelve are located in Europe. As of...

  • Page 15
    ... and $25.3 million at January 31, 2015 and 2014, respectively. The Brazilian subsidiary has appealed the unfavorable ruling to the Supreme Court and Superior Court, Brazil's two highest appellate courts. Based on the legal opinion of outside counsel, the Company believes that the chances of success...

  • Page 16
    .... The Company's management does not expect that the outcome in any of these other legal proceedings, individually or collectively, will have a material adverse effect on the Company's financial condition, results of operations, or cash flows. ITEM 4. Mine Safety Disclosures. Not applicable. 13

  • Page 17
    ...2010 and compares the cumulative total return for Tech Data, the NASDAQ Stock Market (U.S.) Index, and the Standard Industrial Classification, or SIC, Code 5045 - Computer and Peripheral Equipment and Software. The comparisons in the table are provided in accordance with SEC requirements and are not...

  • Page 18
    ...2011 115 127 120 2012 127 136 124 2013 125 155 121 2014 132 205 168 2015 140 235 164 Tech Data Corporation NASDAQ Stock Market (U.S.) Index SIC Code 5045 - Computer and Peripheral Equipment and Software 100 100 100 Securities Authorized for Issuance under Equity Compensation Plans Information...

  • Page 19
    ... information with respect to purchases of common stock by the Company under the share repurchase program during the quarter ended January 31, 2015: Issuer Purchases of Equity Securities Maximum dollar Total number of shares purchased as part Total number of Period November 1 - November 30, 2014...

  • Page 20
    ... tax assets associated with the closure of Brazil's commercial operations. During fiscal 2013, the Company completed the acquisition of Brightstar Corp.'s fifty percent ownership interest in Brightstar Europe Limited, which was a consolidated joint venture between Tech Data and Brightstar Corp (see...

  • Page 21
    17

  • Page 22
    ... and the general market environment. More than 90% of the Company's net sales are on one common IT platform, which we believe will give Tech Data significant competitive advantages in providing greater supply chain opportunities by expanding our value-added services to our customers, on-boarding...

  • Page 23
    ... companies of Specialist Distribution Group (collectively "SDG"), the distribution arm of Specialist Computer Holdings PLC, a privately-held IT services company headquartered in the United Kingdom, for a final purchase price of approximately $358 million. We believe the acquisition of SDG supported...

  • Page 24
    ... make appropriate adjustments to the financial statements. Estimates that are particularly sensitive to future changes include those related to tax, legal, and other regulatory matters such as imports and exports, the imposition of international governmental controls, changes in the interpretation...

  • Page 25
    Table of Contents Recent Accounting Pronouncements and Legislation See Note 1 of Notes to Consolidated Financial Statements for the discussion on recent accounting pronouncements. 21

  • Page 26
    ... therefore the Company reports stock-based compensation expense separately. The following table summarizes our net sales, change in net sales, operating income and non-GAAP operating income by geographic region for the fiscal years ended January 31, 2015, 2014 and 2013: 2015 Net sales by geographic...

  • Page 27
    ... Value added tax assessment Loss on disposal of subsidiaries Acquisition-related intangible assets amortization expense Non-GAAP operating income GAAP to non-GAAP reconciliation of net income attributable to shareholders of Tech Data Corporation: Net income attributable to shareholders of Tech Data...

  • Page 28
    Acquisition-related intangible assets amortization expense, net of tax Non-GAAP net income per share attributable to shareholders of Tech Data Corporation- diluted (1) 0.54 $ 4.97 $ 0.56 4.52 $ 0.32 5.04 During fiscal 2015, the Company recorded income tax benefits of $19.2 million primarily ...

  • Page 29
    ... systems, and mobility products. Our consolidated net sales were $26.8 billion in fiscal 2014, an increase of 5.8% when compared to fiscal 2013. Our acquisition of the SDG value and broadline IT products distribution businesses in November 2012 positively impacted our year-over-year net sales...

  • Page 30
    ... 2009 to fiscal 2013, (ii) the Audit Committee investigation to review the Company's accounting practices, (iii) incremental external audit and supplemental procedures to assist in reviewing the Company's financial statements and accounting practices, and (iv) other incremental legal, accounting...

  • Page 31
    ... Mobility from Brightstar Corp. ("Brightstar"), our joint venture partner, an increase in net foreign currency exchange losses on certain financing transactions and higher discounts on the sale of accounts receivable. Other expense (income), net, was approximately $3.4 million income in fiscal 2014...

  • Page 32
    ...The following table summarizes Tech Data's Consolidated Statement of Cash Flows for the fiscal years ended January 31, 2015, 2014 and 2013: Years ended January 31, 2015 2014 (In thousands) 2013 Net cash provided by (used in): Operating activities Investing activities Financing activities Effect of...

  • Page 33
    ...upgrading of our IT systems, office facilities and equipment for our logistics centers in both the Americas and Europe. Net cash used in financing activities of $49.1 million during fiscal 2015 is primarily the result of $53.0 million paid for the repurchase of shares of common stock under our share...

  • Page 34
    ... Agreement at the applicable LIBOR rate plus a predetermined margin that is based on our debt rating. There were no amounts outstanding under the Credit Agreement at January 31, 2015 and 2014. We also have an agreement with a syndicate of banks (the "Receivables Securitization Program") that allows...

  • Page 35

  • Page 36
    ... certain logistics centers and office facilities from a third-party lessor that expires in June 2018. Properties leased under the Synthetic Lease are located in Clearwater and Miami, Florida; Fort Worth, Texas; Fontana, California; Suwanee, Georgia; Swedesboro, New Jersey; and South Bend, Indiana...

  • Page 37
    ...customer is in default with the finance company related to purchases made from us. We review the underlying credit for these guarantees on at least an annual basis. As of January 31, 2015 and 2014... is our policy to utilize financial instruments to reduce risks where internal netting cannot be ...

  • Page 38
    .... VaR as of January 31, 2015 (In thousands) 2014 Foreign currency exchange rate sensitive financial instruments Interest rate sensitive financial instruments Combined portfolio $ (9,108) $ (412) (2,251) (707) (2,958) $ (9,520) $ Actual future gains and losses associated with the Company...

  • Page 39
    Table of Contents ITEM 8. Financial Statements and Supplementary Data. Index to Financial Statements Page Financial Statements Report of Independent Registered Certified Public Accounting Firm Consolidated Balance Sheet Consolidated Statement of Income Consolidated Statement of Comprehensive Income...

  • Page 40
    ... material respects the information set forth therein. We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), Tech Data Corporation and subsidiaries' internal control over financial reporting as of January 31, 2015, based on criteria...

  • Page 41
    Table of Contents TECH DATA CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEET (In thousands, except share amounts) January 31, 2015 2014 ASSETS Current assets: Cash and cash equivalents Accounts receivable, less allowances of $50,143 and $58,754 Inventories Prepaid expenses and other assets ...

  • Page 42
    Table of Contents TECH DATA CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENT OF INCOME (In thousands, except per share amounts) Year ended January 31, 2015 2014 2013 Net sales Cost of products sold Gross profit Operating expenses: Selling, general and administrative expenses Restatement and ...

  • Page 43
    Table of Contents TECH DATA CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (In thousands) Year ended January 31, 2015 2014 2013 Consolidated net income Other comprehensive (loss) income: Foreign currency translation adjustment Total comprehensive (loss) income ...

  • Page 44
    ... income Balance-January 31, 2013 Issuance of treasury stock for benefit plan and equity-based awards exercised, including related tax benefit of $1,038 Stock-based compensation expense Total other comprehensive loss Net income Balance-January 31, 2014 Purchase of treasury stock, at cost Issuance of...

  • Page 45
    Table of Contents TECH DATA CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENT OF CASH FLOWS (In thousands) Year ended January 31, 2015 Cash flows from operating activities: Cash received from customers Cash paid to vendors and employees Interest paid Income taxes paid Net cash provided by ...

  • Page 46
    ... and other liabilities Total adjustments Net cash provided by operating activities 31,829 (469,757) 23,508 (55,791) $ 119,381 $ 77,737 321,254 6,224 199,216 379,148 $ (102,139) 218,618 25,779 (59,346) 123,694 The accompanying Notes to Consolidated Financial Statements are an integral part of...

  • Page 47
    ... supply chain by bringing products from the world's leading technology vendors to market, as well as providing customers with advanced logistics capabilities and value-added services. Tech Data's customers include valueadded resellers, direct marketers, retailers and corporate resellers who support...

  • Page 48
    ... sold accounts receivable. At January 31, 2015 and 2014, the Company had a total of $310.9 million and $263.7 million , respectively, of accounts receivable sold to and held by financial institutions under these agreements. During the fiscal years ended January 31, 2015, 2014 and 2013, discount fees...

  • Page 49
    ... and payroll-related costs for the Company's IT programmers performing software coding and testing activities (including development of data conversion programs) directly associated with the internal-use computer software project. Prepaid maintenance fees associated with a software application are...

  • Page 50

  • Page 51
    ... has not incurred any significant service warranty costs. Fees charged for products configured by the Company represented less than 10% of net sales for fiscal years 2015, 2014 and 2013. Value Added Taxes The majority of our international operations are subject to a value added tax ("VAT"), which is...

  • Page 52
    ...translation adjustment account, including applicable income taxes. Total accumulated other comprehensive income includes $23.0 million of income taxes at January 31, 2015, 2014 and 2013, respectively. Stock-Based Compensation The Company records all equity-based incentive grants to employees and non...

  • Page 53
    ... Contents 2013, (ii) the Audit Committee investigation to review the Company's accounting practices, (iii) incremental external audit and supplemental procedures by the Company in connection with the preparation of the Company's financial statements, and (iv) other incremental legal, accounting and...

  • Page 54
    ... 9 - Employee Benefit Plans) using the treasury stock method. The composition of basic and diluted EPS is as follows: Year ended January 31, 2015 Net income attributable to shareholders of Tech Data Corporation 2014 (In thousands, except per share data) $ 175,172 $ 179,932 $ 176,255 2013 Weighted...

  • Page 55
    ... to the Company's business acquisition during fiscal 2013 and capitalized assets related to the software and software development expenditures in the Company's SAP implementation in the U.S. There was no interest capitalized during any of the fiscal years ended January 31, 2015, 2014 and 2013. The...

  • Page 56
    ... IT products in the UK, France and the Netherlands. Simultaneously with the acquisition of SDG, the Company entered into a preferred supplier agreement (as subsequently amended) whereby SCH, through its IT reseller business, will have annual purchase commitments through Tech Data for a period of six...

  • Page 57
    48

  • Page 58
    ...: Fiscal Year Ended January 31, 2013 (In thousands, unaudited) Net sales As reported Proforma Net income attributable to shareholders of Tech Data Corporation As reported Proforma Acquisition of TD Mobility On November 1, 2013, the Company acquired Brightstar's fifty percent ownership interest in...

  • Page 59
    ...of the following: January 31, 2015 (In thousands) 2014 Senior Notes, interest at 3.75% payable semi-annually, due September 21, 2017 $ Less-unamortized debt discount Senior Notes, net Capital leases Other committed and uncommitted revolving credit facilities, average interest rate of 4.97% and 6.15...

  • Page 60
    ... at the applicable LIBOR rate plus a predetermined margin that is based on the Company's debt rating. There were no amounts outstanding under the Credit Agreement at January 31, 2015 and 2014. The Company also has an agreement with a syndicate of banks (the "Receivables Securitization Program...

  • Page 61
    ...liabilities for the expected future tax consequences of events that have been included in the financial statements. The Company performs an evaluation of the realizability of the Company's deferred tax assets on a quarterly basis. The Company considers all positive and negative evidence available in...

  • Page 62
    ... assets held for sale Other, net 35.0 % 0.5 (4.5) (11.8) 0.0 4.0 0.1 (0.4) 2.4 1.5 26.8 % 35.0 % 0.8 (19.5) (11.7) 0.0 6.4 0.3 (0.6) 0.0 1.2 11.9 % 35.0 % 1.2 (9.0) (9.9) 0.5 0.8 0.5 (0.4) 0.0 1.4 20.1 % In fiscal 2015, 2014 and 2013, the Company recorded income tax benefits of $19.2 million...

  • Page 63

  • Page 64
    ...as follows: $ $ January 31, 2015 (In thousands) 2014 Deferred tax liabilities: Depreciation and amortization Capitalized marketing program costs Goodwill Deferred costs currently deductible Undistributed earnings on foreign assets held for sale Other, net Total deferred tax liabilities Deferred...

  • Page 65
    ... allowances at both January 31, 2015 and 2014 primarily relate to foreign net operating loss carryforwards. The Company's net operating loss carryforwards totaled $475.6 million and $617.9 million at January 31, 2015 and 2014, respectively. The majority of the net operating losses have an indefinite...

  • Page 66
    ... interest for fiscal 2015, 2014 and 2013, includes the current year end accrual, an interest benefit resulting from the expiration of statutes of limitation, and the translation adjustments on foreign currencies. The Company conducts business primarily in the Americas and Europe and, as a result...

  • Page 67
    ...of grant. For the fiscal years ended January 31, 2015, 2014 and 2013, the Company recorded $13.7 million , $8.9 million and $13.6 million , respectively, of stock-based compensation expense, and related income tax benefits of $4.2 million , $2.9 million and $4.4 million , respectively. Cash received...

  • Page 68
    ... under the ESPP must be held by the employees for a period of one year. Stock-based compensation expense related to the ESPP was insignificant during fiscal 2015, 2014 and 2013. Retirement Savings Plan The Company sponsors the Tech Data Corporation 401(k) Savings Plan (the "401(k) Savings Plan") for...

  • Page 69
    ... treasury for general corporate purposes, including issuances under equity incentive and benefit plans. The reissuance of shares from treasury stock is based on the weighted average purchase price of the shares. The Company's common share repurchase and issuance activity for fiscal 2015 and 2014 is...

  • Page 70

  • Page 71
    ... currency exposure relates primarily to international transactions in Europe, Canada and Latin America, where the currency collected from customers can be different from the currency used to purchase the product. The Company's transactions in its foreign operations are denominated primarily in the...

  • Page 72
    ... certain logistics centers and office facilities from a third-party lessor, that expires in June 2018. Properties leased under the Synthetic Lease are located in Clearwater and Miami, Florida; Fort Worth, Texas; Fontana, California; Suwanee, Georgia; Swedesboro, New Jersey; and South Bend, Indiana...

  • Page 73
    ... legal proceedings, individually or collectively, will have a material adverse effect on the Company's financial condition, results of operations, or cash flows. Guarantees As is customary in the technology industry, to encourage certain customers to purchase products from Tech Data, the Company...

  • Page 74
    ... INFORMATION Tech Data operates predominately in a single industry segment as a distributor of technology products, logistics management, and other valueadded services. While the Company operates primarily in one industry, it is managed based on geographic segments: the Americas (including North...

  • Page 75
    ... information by geographic segment is as follows: Year ended January 31, 2015 Net sales to unaffiliated customers: Americas (1) Europe Total $ $ 10,406,209 17,264,423 27,670,632 $ $ 2014 (In thousands) 2013 10,188,618 16,633,286 26,821,904 $ $ 9,823,515 15,534,814 25,358,329 Operating...

  • Page 76
    ...31, 2014 includes $40.6 million of restatement and remediation related expenses (see Note 1 - Business and Summary of Significant Accounting Policies). Operating income in Europe for the fiscal year ended January 31, 2013 includes an increase in the accrual for value added tax matters in the Company...

  • Page 77
    ... 2014 is as follows: Quarter ended April 30 (1) July 31 (1) (2) October 31 (1) (3) January 31 (1) (4) (5) (In thousands, except per share amounts) Fiscal year 2015: Net sales Gross profit Operating income Consolidated net income Net income attributable to shareholders of Tech Data Corporation...

  • Page 78

  • Page 79
    ...information required to be disclosed in reports filed under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), is recorded, processed, summarized and reported within the specified time periods. Tech Data's management, with the participation of the Company's Chief Executive Officer...

  • Page 80
    64

  • Page 81
    ..., training and competencies related to the use of accounting systems and to enhance all accounting personnel's understanding of accounting policy. The Company has added a Vice President, European Controller to assist with the oversight of financial reporting and the correct application of accounting...

  • Page 82
    ...In our opinion, Tech Data Corporation and subsidiaries maintained, in all material respects, effective internal control over financial reporting as of January 31, 2015, based on the COSO criteria. We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board...

  • Page 83
    ... of the Code of Ethics that applies to Tech Data's principal executive officer, principal financial officer, and principal accounting officer, or persons performing similar functions on the Company's website at the web address noted in this section. ITEM 11. Executive Compensation. The information...

  • Page 84
    ... the shareholder-approved 2009 Equity Incentive Plan of Tech Data Corporation. The information required by Item 12 relating to Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters is incorporated herein by reference to the Company's Proxy Statement. ITEM 13...

  • Page 85
    ... of Florida Bylaws of Tech Data Corporation as adopted by the Board of Directors and approved by the Shareholders on June 4,2014 Indenture, dated as of September 21, 2012, between Tech Data Corporation and U.S. Bank National Association, as trustee Form of 3.750% Note due 2017 1995 Employee Stock...

  • Page 86
    10-AAtt (12) Amendment Number 11 to Transfer and Administration Agreement dated as of March 20, 2007 69

  • Page 87
    ... of Tech Data Corporation Amendment Number 14 to Transfer and Administration Agreement dated as of October 16, 2009 Amendment Number 15 to Transfer and Administration Agreement dated as of October 15, 2010 Amendment No. 16 to Transfer and Administration Agreement dated as of August 31, 2011 Credit...

  • Page 88
    10-BBw (29) Fourth Amended and Restated Credit Agreement, dated as of June 27, 2013 70

  • Page 89
    ... the 2009 Equity Incentive Plan of Tech Data Corporation Amendment Number 20 to Transfer and Administration Agreement dated as of August 20, 2014 Tech Data Deferred Compensation Plan Trust Agreement Subsidiaries of Registrant Consent of Ernst & Young LLP Power of Attorney (included on signature page...

  • Page 90
    to Section 302 of the Sarbanes-Oxley Act of 2002 32-A (1) Certification of Chief Executive Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 71

  • Page 91
    ... 31, 2015, 2014 and 2013; (vi) Notes to Consolidated Financial Statements, detail tagged and (vii) Financial Statement Schedule II, detail tagged. 101 (34) _____ (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) Filed herewith. Incorporated by reference to the Exhibits included in the Company...

  • Page 92
    ... by reference to the Exhibits included in the Company's Form 10-Q for the quarter ended October 31, 2014, File No. 014625. XBRL (Extensible Business Reporting Language) information is furnished and not filed or a part of a registration statements or prospectus for purposes of Sections 11 and...

  • Page 93
    Table of Contents SCHEDULE II TECH DATA CORPORATION AND SUBSIDIARIES VALUATION AND QUALIFYING ACCOUNTS (In thousands) Activity Allowance for doubtful accounts receivable and sales returns January 31, 2015 2014 2013 (1) Balance at beginning of period Charged to cost and expenses Deductions ...

  • Page 94
    ... of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized on March 26, 2015. TECH DATA CORPORATION By /s/ ROBERT M. DUTKOWSKY Robert M. Dutkowsky Chief Executive Officer 75

  • Page 95
    ... Each person whose signature to this Annual Report on Form 10-K appears below hereby appoints Jeffery P. Howells and David R. Vetter, or either of them, as his or her attorney-in-fact to sign on his or her behalf individually and in the capacity stated below and to file all amendments and post...

  • Page 96
    76

  • Page 97
    ... chosen by many if not most of Wells Fargo rabbi trust clients. Additional provisions have been added to reflect Wells Fargo operating procedures and administrative requirements. A Company should carefully review the trust agreement with its legal counsel to determine if it is appropriate for...

  • Page 98
    ... of February 1, 2015 by and between Tech Data Corporation (the "Company") and WELLS FARGO BANK, N.A. , (the "Trustee"), WITNESSETH: WHEREAS, Company has adopted the non-qualified deferred compensation Plan(s) titled Tech Data Deferred Compensation Plan (the "Plan"); WHEREAS, Company has incurred or...

  • Page 99
    ... currently resides ("Non-resident taxes"). If applicable, Company shall direct the Trustee to remit any FICA, FUTA or local taxes with respect to the benefit payments to Company and Company shall have the responsibility for determining, reporting and paying the FICA, FUTA or local taxes to...

  • Page 100
    ... be subject to claims of general creditors of Company under federal and state law as set forth below. (1) The Board of Directors and the Chief Executive Officer (or if there is no Chief Executive Officer, the highest ranking officer) of Company shall have the duty to inform Trustee in writing of...

  • Page 101
    ... or other services to such company and receives compensation for the services provided; (2) To sell, exchange, assign, transfer, and convey any security or property held in the Trust, at public or private sale, at such time and price and upon such terms and conditions (including credit) as directed...

  • Page 102
    ... calls for redemption which do not appear in Standard New York Financial Publications, unless the Trustee actually receives written notice of such call for redemption. The Trustee shall promptly notify the Company of each written notice actually received by the Trustee in the ordinary course of its...

  • Page 103
    ...the trustee may consult with legal counsel (who may also be counsel for Company generally) with respect to any of its duties or obligations hereunder, and Trustee may hire agents, accountants, actuaries, investment advisors, financial consultants or other professionals to assist it in performing any...

  • Page 104
    ... may not be anticipated, assigned (either at law or in equity), alienated, pledged, encumbered or subjected to attachment, garnishment, levy, execution or other legal or equitable process. Section 13.3 of North Carolina. This Trust Agreement shall be governed by and construed in accordance with...

  • Page 105
    ... and Trustee have caused this Agreement to be executed by individuals thereunto duly authorized as of the day and year first above written. Tech Data Corporation By /s/ Scott Walker Its VP, Treasurer And /s/ Jeff Howells Its CFO WELLS FARGO BANK, N.A., Trustee By /s/ Mary Lou Scribner Its Vice...

  • Page 106
    .... Tech Data Financing Corporation Tech Data Finland Oy UK Germany UK UK UK UK Sweden UK UK UK Ireland UK UK Sweden UK UK UK UK UK UK UK UK Brazil Texas Florida Sweden Portugal UK Netherlands Switzerland Belgium Canada - Nova Scotia Chile Colombia Florida Denmark Germany Czech Republic Florida Spain...

  • Page 107
    ...Data Strategy GmbH Tech Data Tennessee, Inc. Tech Data Uruguay S.A. Triade Holding BV Florida France France Germany Germany Cayman Islands Switzerland Italy Florida UK Luxembourg Luxembourg Austria France Mexico Germany UK Netherlands UK Netherlands Netherlands Norway Costa Rica Austria Peru Poland...

  • Page 108
    ... Stock Option Plan (4) Registration Statement (Form S-8 No. 33-60479) pertaining to the 1995 Employee Stock Purchase Plan of our reports dated March 26, 2015 with respect to the consolidated financial statements and schedule of Tech Data Corporation and subsidiaries and the effectiveness of internal...

  • Page 109
    ... report financial information; and Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: March 26, 2015 /s/ R OBERT M. D UTKOWSKY Robert M. Dutkowsky Chief Executive Officer

  • Page 110
    ...Oxley Act of 2002 I, Jeffery P. Howells, certify that: 1. 2. I have reviewed this annual report on Form 10-K of Tech Data Corporation (the "registrant"); Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the...

  • Page 111
    ... the Securities Exchange Act of 1934, (15 U.S.C. 78m), and The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company. Date: March 26, 2015 /s/ R OBERT M. D UTKOWSKY Robert M. Dutkowsky Chief Executive Officer

  • Page 112
    ... I, Jeffery P. Howells, Executive Vice President and Chief Financial Officer of Tech Data Corporation (the "Company"), certify, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350, that, to my knowledge: (i) (ii) The Annual Report on Form 10-K of Tech Data Corporation...