Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Current Assets
Cash and cash equivalents	$ 58.9	$ 42.8
Trade receivables (less allowances of $5.9 and $6.0, respectively)	1,187.0	1,061.6
Merchandise inventory	658.7	566.2
Other current assets	54.1	56.2
Total Current Assets	1,958.7	1,726.8
Property, at cost
Land	79.4	79.8
Buildings	489.2	470.8
Furniture and fixtures	233.0	225.5
Software	166.4	162.5
Capital leases	21.3	25.6
Total Property, at cost	989.3	964.2
Less – accumulated depreciation and amortization	(565.4)	(539.3)
Net Property	423.9	424.9
Other Non-current Assets	108.6	109.7
Total Assets	2,491.2	2,261.4
Current Liabilities
Short-term borrowings	235.0	169.6
Current portion of long-term debt	3.4	2.1
Trade accounts payable	895.2	835.5
Accrued payroll and benefit costs	158.2	119.4
Other accrued taxes	23.9	17.2
Other current liabilities	101.0	96.3
Total Current Liabilities	1,416.7	1,240.1
Postretirement Benefits Liability	66.7	70.7
Pension Liability	118.6	169.2
Long-term Debt	10.0	7.0
Other Non-current Liabilities	8.7	12.8
Total Liabilities	1,620.7	1,499.8
SHAREHOLDERS’ EQUITY
Outstanding Common Stock	428.8	387.7
Common shares subscribed	19.2	18.5
Less subscriptions receivable	(19.2)	(18.5)
Retained Earnings	678.1	619.9
Accumulated Other Comprehensive Loss	(240.3)	(250.1)
Total Graybar Electric Company, Inc. Shareholders’ Equity	866.6	757.5
Noncontrolling Interests	3.9	4.1
Total Shareholders’ Equity	870.5	761.6
Total Liabilities and Shareholders’ Equity	$ 2,491.2	$ 2,261.4