Good market position as a global distributor of semiconductor, software, storage, and server products and services Diverse customer base with no significant client revenue concentration Low operating margins inherent to the technology distribution industry Cyclical industry demand because of exposure to semiconductor and information technology expenditures Strong liquidity profile assessment supported by over $2 billion of cash and revolver availability at March 31, 2018 Counter-cyclical working capital cash flow dynamics that support free operating cash flow (FOCF) generation during periods of weak demand Meaningful FOCF used to fund growth capital expenditures, acquisitions, and ongoing share repurchases The stable outlook on Centennial, Colo.-based electronic component distributor and service provider Arrow Electronics Inc. reflects our expectation that the company will maintain its
