v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Jun. 27, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 2,327 $ 1,939
Trade accounts receivable, net of allowance for credit losses of $148 and $152 as of June 27, 2026 and December 31, 2025, respectively 3,661 3,533
Inventories 4,665 4,769
Short-term investments 350 0
Other current assets 739 438
Total current assets 11,742 10,679
Property, plant, and equipment, net 4,697 4,778
Other non-current assets    
Goodwill 8,072 8,079
Intangible assets, net 13,538 13,893
Deferred tax assets 866 583
Other long-term assets 435 472
Total other non-current assets 22,911 23,027
Total assets 39,350 38,484
Current liabilities    
Current portion of long-term borrowings and other short-term borrowings 29 77
Accounts payable 1,043 961
Accrued expenses and other current liabilities 1,638 1,452
Total current liabilities 2,710 2,490
Non-current liabilities    
Long-term borrowings, less current portion 12,548 12,484
Tax receivable agreement liability 4,392 3,542
Other long-term liabilities 623 682
Total non-current liabilities 17,563 16,708
Total liabilities 20,273 19,198
Commitments and contingencies
Stockholders’ equity    
Preferred stock 0 0
Additional paid-in capital 11,396 10,717
Retained earnings (accumulated deficit) 182 (7)
Accumulated other comprehensive (loss) income (6) 27
Total Medline Inc. stockholders’ equity 11,572 10,737
Noncontrolling interests 7,505 8,549
Total stockholders’ equity 19,077 19,286
Total liabilities and stockholders’ equity 39,350 38,484
Class A common stock    
Stockholders’ equity    
Common stock 0 0
Class B common stock    
Stockholders’ equity    
Common stock $ 0 $ 0