CDW · 10-Q · 2026Q2 · Full report

Liquidity and Debt Position

CDW Corp · 2026-08-05 · Importance 61 · Surprise 32 · From source text

CDW had $5.8 billion of total unsecured indebtedness and $362 million of cash and cash equivalents as of June 30, 2026, producing net debt of $5,455.2 million. Availability under the variable-rate senior unsecured Revolving Loan Facility was $1.7 billion, and the company reported compliance with its credit-agreement and indenture covenants. Net debt increased from $5,151.7 million at June 30, 2025, while average debt levels increased second-quarter interest expense by $3 million, or 6.0%. Management stated that available liquidity and funding were adequate for at least the next 12 months.

Key facts

• As of June 30, 2026, total unsecured indebtedness: $5.8 billion and company was in compliance with covenants under credit agreements and indentures source
• As of June 30, 2026 available borrowings under Revolving Loan Facility: $1.7 billion source
• Net debt as of June 30, 2026: $5,455.2 million and as of June 30, 2025: $5,151.7 million (total debt of $5.8 billion and $5.6 billion, cash and cash equivalents $362 million and $481 million, respectively) source
• Net cash used in financing activities for six months ended June 30, 2026: $(406.2) million versus $(649.2) million prior year (decrease of $243 million) source
• Company stated belief it has adequate sources of liquidity and funding available for at least the next 12 months source
• Cash and cash equivalents as of June 30, 2026: $362 million and as of June 30, 2025: $481 million source
• Net cash (used in) provided by investing activities for six months ended June 30, 2026: $(58.8) million versus $154.6 million prior year (increase in cash used of $213 million) source
• The company identified our level of indebtedness and the obligations imposed by agreements and instruments relating to our indebtedness as a factor that could cause actual results or events to differ from expectations. source

Impact estimates