$CDW
CDW Corp
CIK:0001402057|SEC Filings
Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
|
| Income Statement [Abstract] | ||||
| Net sales | $ 6,572.2 | $ 5,976.6 | $ 12,252.0 | $ 11,175.7 |
| Cost of sales | 5,252.4 | 4,735.4 | 9,742.2 | 8,812.2 |
| Gross profit | 1,319.8 | 1,241.2 | 2,509.8 | 2,363.5 |
| Selling and administrative expenses | 891.2 | 821.0 | 1,705.2 | 1,581.9 |
| Operating income | 428.6 | 420.2 | 804.6 | 781.6 |
| Interest expense, net | (60.2) | (56.8) | (115.5) | (113.9) |
| Other income (expense), net | 4.5 | 1.5 | 2.8 | 1.2 |
| Income before income taxes | 372.9 | 364.9 | 691.9 | 668.9 |
| Income tax expense | (98.5) | (93.7) | (182.1) | (172.8) |
| Net income | $ 274.4 | $ 271.2 | $ 509.8 | $ 496.1 |
| Net income per common share: | ||||
| Basic (in dollars per share) | $ 2.16 | $ 2.06 | $ 3.98 | $ 3.76 |
| Diluted (in dollars per share) | $ 2.15 | $ 2.05 | $ 3.97 | $ 3.73 |
| Weighted-average common shares outstanding: | ||||
| Basic (in shares) | 127.0 | 131.6 | 128.0 | 132.1 |
| Diluted (in shares) | 127.4 | 132.4 | 128.4 | 132.9 |
Consolidated Balance Sheets - USD ($) $ in Millions |
Jun. 30, 2026 |
Dec. 31, 2025 |
|---|---|---|
| Current assets: | ||
| Cash and cash equivalents | $ 361.8 | $ 618.7 |
| Accounts receivable, net of allowance for credit losses of $68.4 and $65.2, respectively | 7,343.7 | 6,312.4 |
| Merchandise inventory | 981.8 | 563.4 |
| Miscellaneous receivables | 546.8 | 554.0 |
| Prepaid expenses and other | 446.4 | 452.0 |
| Total current assets | 9,680.5 | 8,500.5 |
| Operating lease right-of-use assets | 128.2 | 136.7 |
| Property and equipment, net | 166.0 | 171.5 |
| Goodwill | 4,652.1 | 4,662.3 |
| Other intangible assets, net | 1,095.7 | 1,186.4 |
| Accounts receivable and other assets, noncurrent | 1,532.3 | 1,370.8 |
| Total Assets | 17,254.8 | 16,028.2 |
| Current liabilities: | ||
| Accounts payable-trade | 5,117.4 | 4,220.1 |
| Accounts payable-inventory financing | 465.2 | 352.6 |
| Current maturities of long-term debt | 1,008.9 | 1,007.5 |
| Contract liabilities | 576.6 | 534.0 |
| Accrued expenses and other current liabilities: | ||
| Compensation | 295.3 | 318.8 |
| Advertising | 228.1 | 176.1 |
| Sales and income taxes | 78.1 | 82.9 |
| Other | 526.8 | 534.1 |
| Total current liabilities | 8,296.4 | 7,226.1 |
| Long-term liabilities: | ||
| Debt | 4,808.1 | 4,622.3 |
| Deferred income taxes | 162.3 | 171.8 |
| Operating lease liabilities | 147.3 | 157.8 |
| Accounts payable and other liabilities | 1,398.6 | 1,244.1 |
| Total long-term liabilities | 6,516.3 | 6,196.0 |
| Commitments and contingencies (Note 10) | ||
| Stockholders’ equity: | ||
| Preferred stock, $0.01 par value, 100.0 shares authorized; no shares issued or outstanding for both periods | 0.0 | 0.0 |
| Common stock, $0.01 par value, 1,000.0 shares authorized; 125.3 and 129.4 shares outstanding, respectively | 1.2 | 1.3 |
| Paid-in capital | 4,052.9 | 3,978.5 |
| Accumulated deficit | (1,488.9) | (1,273.9) |
| Accumulated other comprehensive loss | (123.1) | (99.8) |
| Total stockholders’ equity | 2,442.1 | 2,606.1 |
| Total Liabilities and Stockholders’ Equity | $ 17,254.8 | $ 16,028.2 |