HD · 10-Q · 2026Q3 · Full report
Acquisition / Partnership / Divestiture
HOME DEPOT, INC. · 2026-08-25 · Importance 53 · Surprise 60 · Matches filing data
SRS completed the acquisition of Mingledorff’s on May 11, 2026, for preliminary cash consideration of approximately $1.1 billion. Mingledorff’s distributes HVAC equipment, parts, and supplies across the southeastern U.S., creating a fifth SRS line of business focused on HVAC products. The acquisition was funded within $1.3 billion of acquisition payments during the first six months of fiscal 2026, and its sales and earnings contribution through August 2, 2026 was immaterial. Home Depot also completed the $5.1 billion GMS acquisition on September 4, 2025, adding specialty building-product distribution branches across the U.S. and Canada and contributing $1.4 billion of second-quarter and approximately $2.8 billion of first-half incremental sales.
Key facts
- Estimated future amortization expense related to definite-lived intangible assets as of August 2, 2026: Total $9,833 million; Fiscal 2026 - remaining $6,827 million. source
- On September 4, 2025, Home Depot completed acquisition of GMS for total cash purchase consideration of $5.1 billion. source
- On May 11, 2026, SRS completed acquisition of Mingledorff’s for total preliminary cash purchase consideration of approximately $1.1 billion. source
- Goodwill balance at August 2, 2026: consolidated $22,899 million (Primary $8,603 million; Other $14,296 million). source
- Definite-lived intangible assets - customer relationships net carrying amount: $9,151 million as of August 2, 2026; total intangible assets net carrying amount $10,482 million. source
- Mingledorff’s acquisition included aggregate definite-lived intangible assets of $[amount disclosed as $million in note but redacted in text] with a weighted average amortization period of [years redacted], and goodwill of $[amount redacted]; net sales and net earnings attributable to Mingledorff’s for the three and six months ended August 2, 2026 were immaterial. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | negative | committed | -12.1% | Estimated future amortization expense related to definite-lived intangible assets as of August 2, 2026: Total $9,833 million; Fiscal 2026… |
| operating_income | negative | committed | -5.3% | Estimated future amortization expense related to definite-lived intangible assets as of August 2, 2026: Total $9,833 million; Fiscal 2026… |