ECL · 10-Q · 2026Q2 · Full report
Liquidity and Debt Position
ECOLAB INC. · 2026-08-06 · Importance 96 · Surprise 100 · No source text
Cash and cash equivalents increased to $5,135.3 million at June 30, 2026 from $646.2 million at December 31, 2025, while total debt increased to $13,170.8 million from $8,125.3 million. In May 2026, Ecolab issued $5.0 billion of fixed-rate senior notes with maturities of three, five, seven and ten years and coupons ranging from 4.60% to 5.35% to fund the CoolIT acquisition and general corporate purposes. The company had no borrowings under its $2.0 billion revolving credit facility, no commercial paper outstanding and was in compliance with all debt covenants at June 30, 2026.
Key facts
- During the first six months of 2026, the company issued $5.1 billion of long-term debt; in the first six months of 2025 the company issued $500 million of long-term debt. source
- During the first six months of 2026, the company issued $5.0 billion aggregate principal amount of senior notes due in 2029, 2031, 2033 and 2036. source
- Cash provided by financing activities was $3,928.6 million in the first six months of 2026 and $55.7 million in the first six months of 2025, a change of $3,872.9 million. source
- As of June 30, 2026 cash was $5,135.3 million and cash as of December 31, 2025 was $646.2 million. source
- Total notes payable and long-term debt due within one year was $1,271 million as of June 30, 2026 (previously disclosed $870 million due within one year in the Form 10-K). source
- Total liabilities were $19.8 billion as of June 30, 2026 and $14.9 billion as of December 31, 2025. source
- Total debt was $13.2 billion as of June 30, 2026 and $8.2 billion as of December 31, 2025. source
- The company has a $2.0 billion multi-year revolving credit facility that expires in March 2030 and had no borrowings under it as of June 30, 2026. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| assets | positive | realized | +17.4% | Total assets were $29.9 billion as of June 30, 2026 and $24.7 billion as of December 31, 2025. |
| liability | negative | realized | -17.0% | During the first six months of 2026, the company issued $5.1 billion of long-term debt; in the first six months of 2025 the company issued… |
| cash | positive | realized | +17.0% | Long-term debt borrowings during six months ended June 30, 2026: $5,081.2 million |
| liability | negative | realized | -16.4% | Total liabilities were $19.8 billion as of June 30, 2026 and $14.9 billion as of December 31, 2025. |
| cash | positive | realized | +15.0% | As of June 30, 2026 cash was $5,135.3 million and cash as of December 31, 2025 was $646.2 million. |
| cash | positive | realized | +12.9% | Cash provided by financing activities was $3,928.6 million in the first six months of 2026 and $55.7 million in the first six months of… |
| liability | negative | realized | -1.5% | Net debt was $8,040.9 million as of June 30, 2026 and $7,590.1 million as of December 31, 2025. |
| liability | negative | realized | -1.3% | Total notes payable and long-term debt due within one year was $1,271 million as of June 30, 2026 (previously disclosed $870 million due… |
| liability | negative | realized | -0.3% | Net repayments of commercial paper and notes payable were $98 million in the first six months of 2026 and $1 million in the first six… |
| liability | negative | realized | -0.3% | At the end of Q2 2026 there was no outstanding commercial paper under the U.S. and Euro commercial paper programs; as of December 31, 2025… |
| liability | negative | realized | — | Total debt (carrying amount) at June 30, 2026: $13,170.8 million; fair value of long-term debt $12,416.7 million |