For the year ending 2025-12-31, CDW had $111,200K increase in cash & cash equivalents over the period. $1,088,100K in free cash flow.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Net income | 1,066,600 | 1,077,800 | 1,104,300 | 1,114,500 |
| Depreciation and amortization | 295,600 | 275,300 | 270,700 | 290,600 |
| Equity-based compensation expense | 83,600 | 64,700 | 93,700 | 91,100 |
| Deferred income taxes | -1,300 | 14,100 | 32,700 | 18,200 |
| Provision for credit losses | 37,200 | 32,200 | 14,900 | 8,300 |
| Other | 7,200 | 4,100 | 29,000 | 16,200 |
| Accounts receivable | 1,166,500 | 559,400 | 54,500 | 34,800 |
| Merchandise inventory | -48,200 | -61,100 | -139,000 | -111,900 |
| Other assets | 390,100 | 605,300 | -183,300 | 208,900 |
| Accounts payable-trade | 815,400 | 443,800 | -55,400 | -260,000 |
| Other liabilities | 406,700 | 497,100 | -93,600 | 225,200 |
| Net cash provided by operating activities | 1,205,200 | 1,277,300 | 1,598,700 | 1,335,900 |
| Capital expenditures | 117,100 | 122,600 | 148,200 | 127,800 |
| Purchases of short-term investments | - | 211,100 | - | - |
| Net change in short-term investments | -211,100 | - | - | - |
| Acquisitions of businesses, net of cash acquired | 21,500 | 323,900 | 76,400 | 36,700 |
| Proceeds from the sale of equity method investment | - | - | 0 | 0 |
| Other | 2,300 | 1,600 | 5,000 | - |
| Net cash provided by (used in) investing activities | 70,200 | -659,200 | -229,600 | -164,500 |
| Proceeds from borrowings under revolving credit facilities | 2,604,400 | 294,200 | 207,600 | 2,301,400 |
| Repayments of borrowings under revolving credit facilities | 2,604,400 | 294,200 | 282,000 | 2,531,200 |
| Proceeds from issuance of long-term debt | 592,500 | 1,197,800 | 0 | 0 |
| Repayments of long-term debt | 211,100 | 0 | 150,000 | 635,500 |
| Payments of debt issuance costs | - | 10,900 | - | - |
| Repayments of receivable financing liability | - | 36,600 | 61,100 | 68,800 |
| Payments to extinguish long-term debt | 593,500 | 962,400 | 0 | 0 |
| Payments of debt financing fees | - | - | 0 | 0 |
| Net change in accounts payable-inventory financing | -2,600 | -75,700 | -23,700 | 84,600 |
| Financing payments for revenue generating assets | - | - | 0 | 0 |
| Repurchases of common stock | 653,000 | 500,000 | 500,000 | 0 |
| Proceeds from stock option exercises | 29,500 | 47,000 | 49,300 | 30,200 |
| Payment of incentive compensation plan withholding taxes | 26,100 | 38,200 | 40,000 | 23,100 |
| Dividend payments | 328,600 | 332,100 | 321,500 | 282,600 |
| Other | 8,400 | 24,200 | 22,700 | 22,900 |
| Net cash used in financing activities | -1,184,500 | -686,900 | -1,098,700 | -1,102,100 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 20,300 | -12,200 | 3,100 | -12,200 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 111,200 | -81,000 | 273,500 | 57,100 |
| Cash, cash equivalents and restricted cash beginning of period | 507,700 | 588,700 | 315,200 | 258,100 |
| Cash, cash equivalents and restricted cash end of period | 618,900 | 507,700 | 588,700 | 315,200 |
CDW Corp (CDW)
CDW Corp (CDW)