| Cash Flow | 2026-03-28 | 2025-12-31 |
|---|---|---|
| Net income | 239 | 1,157 |
| Depreciation and amortization | 254 | 1,011 |
| Stock-based compensation expense | 23 | 76 |
| Amortization of deferred financing costs | 11 | 59 |
| Embedded derivative on debt | - | 41 |
| Deferred taxes | 37 | - |
| Credit losses | 1 | 54 |
| Unrealized foreign exchange (gain) loss, net | 12 | -68 |
| Amortization of inventory step-up | - | 0 |
| Loss on extinguishment of debt | - | -58 |
| Non-cash lease expense | 17 | 72 |
| Other non-cash adjustments | -3 | -13 |
| Trade accounts receivable | 146 | 355 |
| Inventories | 42 | 264 |
| Other assets | 19 | 126 |
| Accounts payable | 6 | 73 |
| Accrued expenses and other current liabilities | 72 | -92 |
| Other liabilities | -32 | -19 |
| Net cash provided by operating activities | 412 | 1,744 |
| Purchases of property and equipment, net | 96 | 447 |
| Acquisitions of businesses, net of cash acquired | 0 | -6 |
| Cash paid for asset acquisitions | - | 33 |
| Other investing activities | - | 0 |
| Net cash used in investing activities | -96 | -474 |
| Proceeds from issuance of class a common stock in initial public offering, net of underwriting discounts and commissions | - | 7,048 |
| Purchase of class a common stock and redemptions of common units from pre-ipo owners | - | 1,970 |
| Payment for offering costs | 3 | 36 |
| Proceeds from long-term borrowings | - | 7,569 |
| Repayment for long-term borrowings | - | 11,661 |
| Repayments under lines of credit | 0 | 179 |
| Proceeds from lines of credit | 0 | 179 |
| Payment for debt issuance cost | - | 0 |
| Payment towards class b unit repurchases | 0 | 33 |
| Distributions to partners | - | 518 |
| Distributions to noncontrolling interests | 10 | - |
| Net cash used in financing activities | -13 | 399 |
| Effect of exchange rate changes on cash and cash equivalents and restricted cash | -7 | 23 |
| Net change in cash and cash equivalents and restricted cash | 296 | 1,692 |
| Cash, cash equivalents and restricted cash, beginning of year | 1,942 | 250 |
| Cash, cash equivalents and restricted cash, end of period | 2,238 | 1,942 |
Medline Inc. (MDLN)
Medline Inc. (MDLN)