v3.26.1
SEGMENT INFORMATION (Tables)
 6 Months Ended
Jun. 27, 2026
Segment Reporting [Abstract]  
Schedule of Financial Information by Segment
The following tables present financial information by segment:

Three months endedSix months ended
(in millions)
June 27, 2026June 28, 2025June 27, 2026June 28, 2025
Net sales to external customers:
Front Line Care$1,652 $1,592 $3,270 $3,118 
Surgical Solutions1,640 1,509 3,194 2,956 
Laboratory and Diagnostics248 221 541 512 
Medline Brand3,540 3,322 7,005 6,586 
Supply Chain Solutions4,145 3,564 8,032 6,944 
Consolidated net sales to external customers$7,685 $6,886 $15,037 $13,530 
Segment Adjusted EBITDA:
Medline Brand$1,067 $890 $1,832 $1,720 
Supply Chain Solutions204 201 391 383 
Total segment adjusted EBITDA1,271 1,091 2,223 2,103 
Corporate & Other(211)(156)(387)(300)
Interest expense, net(119)(223)(255)(433)
Depreciation and amortization(256)(250)(510)(497)
Inventory-related adjustments(3)(15)(32)(36)
Stock-based compensation expense(29)(15)(52)(37)
Litigation gains, net— 13 — 47 
Transaction-related costs (1)
(29)(11)(64)(23)
Other non-core charges, net (2)
(389)(75)(397)(127)
Income before income taxes$235 $359 $526 $697 

(1) Represents acquisition and integration-related costs and IPO and subsequent offerings related costs.
(2) Represents loss on debt extinguishment and other refinancing costs and fees, realized and unrealized foreign currency and investment losses and costs, recoveries (credit) loss expense related to certain customer receivable, gains (losses) on disposal of assets and exits, and other items. The impact of the losses related to the fire at a distribution center in Tracy are also included in the 2026 periods.
Schedule of Sales and Long-Lived Assets by Geographical Areas
The following tables present information by sales office and geographic area:

Three months endedSix months ended
(in millions)
June 27, 2026June 28, 2025June 27, 2026June 28, 2025
Net sales to external customers:
Acute care (1)
$5,407 $4,716 $10,532 $9,288 
Non-Acute care (2)
1,745 1,683 3,477 3,305 
United States7,152 6,399 14,009 12,593 
International533 487 1,028 937 
Consolidated net sales to external customers$7,685 $6,886 $15,037 $13,530 
(1) Acute care represents hospital health systems.
(2) Non-Acute care represents other sites of care including outpatient, post acute, physician’s office, surgery centers, and all other.
(in millions)June 27, 2026December 31, 2025
Long-lived assets by geographical area (1):
United States$4,277 $4,433 
International815 777 
Consolidated long-lived assets, net$5,092 $5,210 
(1) Includes property, plant, and equipment, net, and operating lease right-of-use assets.