v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 363,482 $ 358,020
Accounts receivable, net of allowance for doubtful accounts of $22,391 and $48,064, respectively 7,815,930 5,516,984
Inventories 247,889 160,648
Contract assets, net 58,589 65,745
Other current assets 309,554 260,990
Total current assets 8,795,444 6,362,387
Long-term contract assets, net 40,901 53,176
Property and equipment, net of accumulated depreciation and amortization of $195,811 and $184,730, respectively 186,314 188,449
Goodwill 1,166,420 1,169,734
Intangible assets, net of accumulated amortization of $361,507 and $320,553, respectively 383,589 426,237
Long-term accounts receivable, net 699,011 763,923
Other assets 122,071 123,466
Total assets 11,393,750 9,087,372
Current liabilities:    
Accounts payable—trade 6,519,548 4,263,796
Accounts payable—inventory financing facilities 266,636 225,035
Accrued expenses and other current liabilities 647,774 615,464
Current portion of long-term debt 0 8
Total current liabilities 7,433,958 5,104,303
Long-term debt 1,475,089 1,361,327
Deferred income taxes 70,477 70,715
Long-term accounts payable 619,579 715,494
Other liabilities 189,622 186,659
Total liabilities 9,788,725 7,438,498
Commitments and contingencies
Stockholders’ equity:    
Preferred stock, $0.01 par value, 3,000 shares authorized; no shares issued 0 0
Common stock, $0.01 par value, 100,000 shares authorized; 29,515 shares at June 30, 2026 and $30,996 shares at December 31, 2025 issued and outstanding 295 310
Additional paid-in capital 171,931 164,560
Retained earnings 1,486,649 1,520,404
Accumulated other comprehensive loss – foreign currency translation adjustments (53,850) (36,400)
Total stockholders’ equity 1,605,025 1,648,874
Total liabilities and stockholders' equity $ 11,393,750 $ 9,087,372