GRAYBAR ELECTRIC CO INC

CIK:0000205402|SEC Filings

Condensed Consolidated Statements Of Income - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Condensed Consolidated Statements Of Income [Abstract]
Net Sales	$ 3,768.9	$ 3,369.9	$ 7,083.8	$ 6,319.7
Cost of merchandise sold	(3,053.1)	(2,730.1)	(5,714.5)	(5,104.9)
Gross Margin	715.8	639.8	1,369.3	1,214.8
Selling, general and administrative expenses	(476.9)	(433.1)	(918.7)	(855.4)
Depreciation and amortization	(23.5)	(21.5)	(45.2)	(42.6)
Other operating income, net	2.2	1.8	6.2	8.4
Income from Operations	217.6	187.0	411.6	325.2
Non-operating expenses, net	(3.0)	(1.3)	(5.4)	(2.9)
Income before Provision for Income Taxes	214.6	185.7	406.2	322.3
Provision for income taxes	(55.7)	(47.3)	(105.2)	(82.8)
Net Income	158.9	138.4	301.0	239.5
Net income attributable to noncontrolling interests	(0.3)	(0.3)	(0.5)	(0.5)
Net Income attributable to Graybar Electric Company, Inc.	$ 158.6	$ 138.1	$ 300.5	$ 239.0
Net Income attributable to Graybar Electric Company, Inc. per share of Common Stock	$ 4.82	$ 4.26	$ 9.13	$ 7.36
Cash Dividends per share of Common Stock	$ 0.30	$ 0.30	$ 0.60	$ 0.60
Average Common Shares Outstanding	32.9	32.5	32.9	32.5

Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash Flows from Operating Activities
Net Income	$ 301.0	$ 239.5
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	45.2	42.6
Non-cash operating lease expense	35.5	31.2
Deferred income taxes	1.1	1.7
Net losses (gains) on disposal of assets	0.1	(5.4)
Losses on impairment of assets	0.1
Earnings on investment in employee deferred compensation trust	(0.5)	(0.6)
Net income attributable to noncontrolling interests	(0.5)	(0.5)
Changes in assets and liabilities:
Trade receivables	(259.5)	(264.0)
Merchandise inventory	34.0	(22.9)
Other current assets	(16.0)	(8.9)
Other non-current assets	4.5	(32.1)
Trade accounts payable	199.6	226.5
Accrued payroll and benefit costs	(128.6)	(85.3)
Other current liabilities	68.0	79.6
Non-current liabilities	(34.7)	(37.4)
Total adjustments to net income	(51.7)	(75.5)
Net cash provided by operating activities	249.3	164.0
Cash Flows from Investing Activities
Proceeds from disposal of property	0.6	6.2
Capital expenditures for property	(52.7)	(26.7)
Insurance proceeds from property claim		10.4
Amounts attributable to acquisitions	(243.7)	(2.2)
Investment in employee deferred compensation trust	(4.1)	(1.1)
Net cash used by investing activities	(299.9)	(13.4)
Cash Flows from Financing Activities
Net decrease in short-term borrowings		(22.0)
Principal payments under finance leases	(0.5)	(0.4)
Payment of deferred financing fees		(2.4)
Sales of common stock	21.5	19.4
Purchases of common stock	(9.5)	(12.4)
Purchases of noncontrolling interests’ common stock	(0.8)	(0.5)
Dividends paid	(19.8)	(19.5)
Contingent consideration paid	(3.4)
Net cash used by financing activities	(12.5)	(37.8)
Net (Decrease) Increase in Cash	(63.1)	112.8
Cash, Beginning of Year	273.1	90.4
Cash, End of Period	210.0	203.2
Non-cash Investing and Financing Activities
Acquisitions of equipment under finance leases		0.2
Acquisitions of assets under operating leases	$ 83.0	$ 35.7

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current Assets
Cash and cash equivalents	$ 210.0	$ 273.1
Trade receivables (less allowances of $15.8 and $14.0)	2,380.0	2,059.1
Merchandise inventory	1,053.4	1,038.2
Other current assets	134.2	117.9
Total Current Assets	3,777.6	3,488.3
Property (less accumulated depreciation and amortization of $654.0 and $628.5)	509.8	480.4
Operating Lease Right-of-use Assets	319.2	273.2
Goodwill	302.1	235.0
Intangible Assets (less accumulated amortization of $101.5 and $88.0)	384.1	288.3
Other Non-current Assets	158.1	162.2
Total Assets	5,450.9	4,927.4
Current Liabilities
Trade accounts payable	1,780.8	1,563.3
Accrued payroll and benefit costs	136.0	252.2
Current operating lease liabilities	69.8	62.1
Deferred revenue	182.3	105.9
Other current liabilities	242.6	229.5
Total Current Liabilities	2,411.5	2,213.0
Postretirement Benefits Liability	45.3	44.8
Pension Liability	92.9	103.7
Non-current Operating Lease Liabilities	281.2	235.0
Other Non-current Liabilities	54.3	54.7
Total Liabilities	2,885.2	2,651.2
SHAREHOLDERS’ EQUITY
Outstanding Common Stock	658.8	648.2
Advance Payments on Subscriptions to Common Stock	1.4
Retained Earnings	2,099.9	1,819.2
Accumulated Other Comprehensive Loss	(203.7)	(201.1)
Total Graybar Electric Company, Inc. Shareholders’ Equity	2,556.4	2,266.3
Noncontrolling Interests	9.3	9.9
Total Shareholders’ Equity	2,565.7	2,276.2
Total Liabilities and Shareholders’ Equity	$ 5,450.9	$ 4,927.4