For the quarter ending 2026-03-31, CDW had -$39,000K decrease in cash & cash equivalents over the period. $248,400K in free cash flow.
| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Net income | 235,400 | 279,500 | 291,000 | 271,200 |
| Depreciation and amortization | 75,100 | 74,100 | 73,300 | 73,300 |
| Equity-based compensation expense | 22,100 | 12,500 | 27,100 | 23,500 |
| Deferred income taxes | 4,300 | -4,500 | -26,700 | 15,800 |
| Provision for credit losses | 5,600 | 10,700 | 10,600 | 7,600 |
| Other | 1,000 | 7,800 | 1,000 | 100 |
| Accounts receivable | 170,100 | 533,500 | 182,900 | 265,600 |
| Merchandise inventory | 257,600 | 58,600 | -254,100 | 35,200 |
| Other assets | 104,000 | 55,200 | 117,800 | 132,900 |
| Accounts payable-trade | 341,300 | 541,600 | -110,900 | 153,200 |
| Other liabilities | 130,300 | 150,400 | 56,100 | 76,500 |
| Net cash provided by operating activities | 274,800 | 433,800 | 328,300 | 155,900 |
| Capital expenditures | 26,400 | 37,900 | 29,800 | 22,500 |
| Purchases of short-term investments | - | - | 0 | - |
| Proceeds from short-term investments | - | - | 0 | 211,100 |
| Net change in short-term investments | - | -211,100 | - | - |
| Acquisitions of businesses, net of cash acquired | 0 | 16,500 | 0 | 0 |
| Other | 4,500 | 100 | 100 | 2,100 |
| Net cash used in investing activities | -30,900 | -54,500 | -29,900 | 186,500 |
| Proceeds from borrowings under revolving credit facility | 651,500 | 1,206,500 | 308,300 | 703,000 |
| Repayments of borrowings under revolving credit facility | 651,500 | 1,206,500 | 308,300 | 703,000 |
| Proceeds from issuance of long-term debt | - | 592,500 | 0 | - |
| Repayments of long-term debt | - | 0 | 0 | 211,100 |
| Payments to extinguish long-term debt | - | 593,500 | 0 | - |
| Payments of debt issuance costs | - | - | 0 | - |
| Proceeds from receivable financing liability | - | - | 0 | 0 |
| Repayments of receivable financing liability | - | - | 4,900 | 10,100 |
| Net change in accounts payable-inventory financing | 3,000 | 21,600 | -89,400 | 76,700 |
| Repurchases of common stock | 201,000 | 153,000 | 149,900 | 150,000 |
| Proceeds from stock option exercises | 2,600 | 2,500 | 1,800 | 19,300 |
| Payment of incentive compensation plan withholding taxes | 10,400 | 4,100 | 1,100 | 2,300 |
| Dividend payments | 81,100 | 81,700 | 81,800 | 82,300 |
| Other | 13,700 | -6,300 | 5,800 | 4,700 |
| Net cash used in financing activities | -273,200 | -215,800 | -319,500 | -355,100 |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash | -9,700 | 2,300 | -7,000 | 18,300 |
| Net decrease in cash, cash equivalents, and restricted cash | -39,000 | 165,800 | -28,100 | 5,600 |
| Cash, cash equivalents, and restricted cashbeginning of period | 618,900 | 54,600 | 26,500 | 32,100 |
| Cash, cash equivalents and restricted cashend of period | 579,900 | 165,800 | -28,100 | 5,600 |