SHW · 10-Q · 2026Q1 · Full report

Outstanding Indebtedness

SHERWIN WILLIAMS CO · 2026-04-28 · Importance 64 · Surprise 42

At March 31, 2026 the Company reported total debt outstanding of $11.700 billion and cash and cash equivalents of $216.9 million, resulting in net debt of $11.483 billion. Short-term borrowings increased to $2,376.6 million at March 31, 2026 while long-term debt (including current portion) was $9,323.2 million. The Company maintains $2.443 billion of unused capacity under its credit facilities and states it was, and expects to remain, in compliance with all financing covenants. The credit agreements include a consolidated leverage covenant (3.75:1.00, temporarily up to 4.25:1.00 following qualifying acquisitions) and the Company affirms compliance at March 31, 2026.

Key facts

• Short-term borrowings at March 31, 2026: $2,376.6 million; at December 31, 2025: $1,200.5 million; at March 31, 2025: $1,798.5 million.
• Long-term debt (including current portion) at March 31, 2026: $9,323.2 million; at December 31, 2025: $9,670.8 million; at March 31, 2025: $8,977.9 million.
• Total debt outstanding at March 31, 2026: $11,699.8 million.
• Total debt outstanding net of Cash and cash equivalents at March 31, 2026: $11,483.0 million.
• As of March 31, 2026 the Company was in compliance with its consolidated leverage covenant which limits the consolidated leverage ratio to not exceed 3.75 to 1.00 (with a possible temporary election to increase to 4.25 to 1.00 for four consecutive fiscal quarters following a qualifying acquisition).

Impact estimates