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Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 578.6 $ 618.7
Accounts receivable, net of allowance for credit losses of $66.4 and $65.2, respectively 6,468.4 6,312.4
Merchandise inventory 820.6 563.4
Miscellaneous receivables 583.4 554.0
Prepaid expenses and other 514.2 452.0
Total current assets 8,965.2 8,500.5
Operating lease right-of-use assets 130.4 136.7
Property and equipment, net 172.2 171.5
Goodwill 4,651.1 4,662.3
Other intangible assets, net 1,137.4 1,186.4
Accounts receivable and other assets, noncurrent 1,397.1 1,370.8
Total Assets 16,453.4 16,028.2
Current liabilities:    
Accounts payable-trade 4,561.5 4,220.1
Accounts payable-inventory financing 355.6 352.6
Current maturities of long-term debt 1,005.9 1,007.5
Contract liabilities 597.3 534.0
Accrued expenses and other current liabilities:    
Compensation 249.7 318.8
Advertising 237.2 176.1
Sales and income taxes 166.6 82.9
Other 524.7 534.1
Total current liabilities 7,698.5 7,226.1
Long-term liabilities:    
Debt 4,635.1 4,622.3
Deferred income taxes 167.2 171.8
Operating lease liabilities 149.7 157.8
Accounts payable and other liabilities 1,247.5 1,244.1
Total long-term liabilities 6,199.5 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; 128.0 and 129.4 shares outstanding, respectively 1.2 1.3
Paid-in capital 4,008.9 3,978.5
Accumulated deficit (1,334.6) (1,273.9)
Accumulated other comprehensive loss (120.1) (99.8)
Total stockholders’ equity 2,555.4 2,606.1
Total Liabilities and Stockholders’ Equity $ 16,453.4 $ 16,028.2