$ARW

ARROW ELECTRONICS INC

CIK:0000007536|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2026	Jun. 28, 2025	Jul. 04, 2026	Jun. 28, 2025
CONSOLIDATED STATEMENTS OF OPERATIONS
Sales	$ 9,992,237	$ 7,579,947	$ 19,465,785	$ 14,393,964
Cost of sales	8,867,028	6,731,290	17,250,116	12,771,315
Gross profit	1,125,209	848,657	2,215,669	1,622,649
Operating expenses:
Selling, general, and administrative	688,138	600,990	1,344,279	1,163,306
Depreciation and amortization	35,599	35,162	71,652	70,972
Restructuring, integration, and other	24,139	21,919	60,803	39,232
Total operating expenses	747,876	658,071	1,476,734	1,273,510
Operating income	377,333	190,586	738,935	349,139
Equity in earnings (losses) of affiliated companies	2,065	(659)	2,961	661
Gain on investments, net	12,044	103,976	6,252	104,116
Post-retirement expense	(999)	(664)	(1,961)	(1,286)
Interest and other financing expense, net	(37,297)	(60,283)	(85,781)	(116,465)
Income before income taxes	353,146	232,956	660,406	336,165
Provision for income taxes	80,311	45,934	151,541	69,279
Consolidated net income	272,835	187,022	508,865	266,886
Noncontrolling interests	124	(727)	1,048	(583)
Net income attributable to shareholders	$ 272,711	$ 187,749	$ 507,817	$ 267,469
Net income per share:
Basic (in dollars per share)	$ 5.32	$ 3.62	$ 9.9	$ 5.14
Diluted (in dollars per share)	$ 5.26	$ 3.59	$ 9.81	$ 5.09
Weighted-average shares outstanding:
Basic (in shares)	51,306	51,856	51,314	52,057
Diluted (in shares)	51,867	52,342	51,787	52,504

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jul. 04, 2026	Jun. 28, 2025
Cash flows from operating activities:
Consolidated net income:	$ 508,865	$ 266,886
Adjustments to reconcile consolidated net income to net cash provided by operations:
Depreciation and amortization	71,652	70,972
Amortization of stock-based compensation	22,415	30,200
Equity in earnings of affiliated companies	(2,961)	(661)
Deferred income taxes	12,403	5,251
Loss on disposition of businesses, net	22,830	0
Gain on investments, net	(6,046)	(103,895)
Other	(173)	(302)
Change in assets and liabilities:
Accounts receivable, net	(8,338,902)	(1,896,481)
Inventories	(876,277)	46,449
Accounts payable	9,755,373	1,949,919
Accrued expenses	112,581	(81,710)
Other assets and liabilities	(263,659)	(140,845)
Net cash provided by operating activities	1,018,101	145,783
Cash flows from investing activities:
Acquisition of property, plant, and equipment	(53,246)	(43,597)
Proceeds from settlement of net investment hedges	0	24,858
Proceeds from sale of investments in equity securities	0	100,000
Net cash (used for) provided by investing activities	(53,246)	81,261
Cash flows from financing activities:
Change in short-term and other borrowings	7,262	454,803
Repayments of long-term bank borrowings, net	(923,170)	(413,657)
Redemption of notes	0	(350,000)
Proceeds from exercise of stock options	10,431	3,203
Repurchases of common stock	(75,147)	(110,149)
Other	(153)	(148)
Net cash used for financing activities	(980,777)	(415,948)
Effect of exchange rate changes on cash	(45,914)	222,067
Net (decrease) increase in cash and cash equivalents	(61,836)	33,163
Cash and cash equivalents at beginning of period	306,467	188,807
Cash and cash equivalents at end of period	$ 244,631	$ 221,970

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jul. 04, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 244,631	$ 306,467
Accounts receivable, net	28,008,735	19,738,666
Inventories	5,939,587	5,081,863
Other current assets	796,035	533,035
Total current assets	34,988,988	25,660,031
Property, plant, and equipment, at cost:
Land	5,691	5,691
Buildings and improvements	205,840	199,433
Machinery and equipment	1,728,678	1,715,415
Property, plant, and equipment, gross	1,940,209	1,920,539
Less: Accumulated depreciation and amortization	(1,479,390)	(1,445,889)
Property, plant, and equipment, net	460,819	474,650
Investments in affiliated companies	62,149	59,315
Intangible assets, net	67,514	77,022
Goodwill	2,109,446	2,120,071
Other assets	687,765	687,049
Total assets	38,376,681	29,078,138
Current liabilities:
Accounts payable	27,107,855	17,383,796
Accrued expenses	1,516,824	1,461,261
Short-term borrowings, including current portion of long-term debt	117,539	341
Total current liabilities	28,742,218	18,845,398
Long-term debt	2,053,041	3,084,715
Other liabilities	502,541	489,326
Contingencies (Note L)
Equity:
Common stock, par value $1: Authorized - 160,000 shares in both 2026 and 2025 Issued - 56,094 and 55,838 shares in 2026 and 2025, respectively	56,094	55,838
Capital in excess of par value	613,560	586,993
Treasury stock (5,119 and 4,768 shares in 2026 and 2025, respectively), at cost	(554,346)	(483,571)
Retained earnings	7,059,909	6,552,092
Accumulated other comprehensive loss	(170,036)	(126,640)
Total shareholders' equity	7,005,181	6,584,712
Noncontrolling interests	73,700	73,987
Total equity	7,078,881	6,658,699
Total liabilities and equity	$ 38,376,681	$ 29,078,138