In fact, we've met or exceeded our guidance 46 times in the last 50 quarters.
Cash flow from our operations totaled $418 million, $1.7 billion over the last 12 months, and we have also reduced debt by $1.1 billion over the last year.
Therefore, we increased our commitment to returning excess cash to our shareholders with an additional $600 million of share repurchases.
Global components book-to-bill was 1.07 exiting the second quarter.
Second quarter sales were $6.61 billion.
Sales increased 4% quarter-over-quarter and decreased 8% year-over-year as adjusted.
Global components sales were $4.72 billion.
This was above the high end of our prior guidance and represents an 8% year-over-year decrease as adjusted.
Global components operating margin was 3.8%, down 10 basis points year-over-year.
This was mainly due to regional mix with Asia contributing 45% of global component sales, up from 37% in the first quarter and 38% last year.
Enterprise computing solutions sales of $1.89 billion decreased 8% year-over-year as adjusted and were above the midpoint of our prior expected range.
Global enterprise computing solutions operating income margin decreased by approximately 60 basis points year-over-year to 4.3%.
Interest and other expense of $32 million was below our prior expectation due to lower borrowings and lower interest rates.
The effective tax rate of 24.1% was in line with our expectations.
Earnings per share were $1.59 on a diluted basis, exceeding the high end of our prior expectation.
We reported strong operating cash flow of $418 million.
During the second quarter, we reduced borrowings by approximately $257 million, principally through the maturity of a $209 million 6% note retirement.
Current committed and undrawn liquidity stands at over $3.2 billion, excluding the $206 million cash balance that we have on hand.
We returned approximately $75 million to shareholders during the quarter through our share repurchase plan.
The remaining authorization under our existing plan is approximately $113 million.
The new $600 million authorization increases the total to $713 million.

Summary:
Second quarter sales were $6.61 billion.
Earnings per share were $1.59 on a diluted basis, exceeding the high end of our prior expectation.