Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Current Assets
Cash and cash equivalents	$ 42,757	$ 43,339
Trade receivables (less allowances of $5,989 and $5,025, respectively)	1,061,590	964,180
Merchandise inventory	579,350	516,732
Other current assets	34,227	24,148
Total Current Assets	1,717,924	1,548,399
Property, at cost
Land	79,787	78,440
Buildings	470,784	454,587
Furniture and fixtures	300,705	286,615
Software	87,313	87,313
Capital leases	25,610	33,652
Total Property, at cost	964,199	940,607
Less – accumulated depreciation and amortization	(539,275)	(512,535)
Net Property	424,924	428,072
Other Non-current Assets	118,509	122,761
Total Assets	2,261,357	2,099,232
Current Liabilities
Short-term borrowings	169,643	140,465
Current portion of long-term debt	2,052	4,155
Trade accounts payable	835,931	752,171
Accrued payroll and benefit costs	119,349	121,421
Other accrued taxes	17,228	16,926
Other current liabilities	78,225	73,028
Total Current Liabilities	1,222,428	1,108,166
Postretirement Benefits Liability	70,747	70,628
Pension Liability	169,225	160,950
Long-term Debt	7,048	7,271
Other Non-current Liabilities	30,361	21,328
Total Liabilities	1,499,809	1,368,343
SHAREHOLDERS’ EQUITY
Outstanding Common Stock	387,687	348,771
Common shares subscribed	18,463	17,929
Less subscriptions receivable	(18,463)	(17,929)
Retained Earnings	619,916	575,380
Accumulated Other Comprehensive Loss	(250,154)	(196,600)
Total Graybar Electric Company, Inc. Shareholders’ Equity	757,449	727,551
Noncontrolling Interests	4,099	3,338
Total Shareholders’ Equity	761,548	730,889
Total Liabilities and Shareholders’ Equity	$ 2,261,357	$ 2,099,232