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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 500,023 $ 477,179
Trade accounts receivable, less allowance for doubtful accounts (2026 – $80,950; 2025 – $85,537) 2,533,850 2,370,939
Merchandise inventories, net 6,127,233 6,071,996
Prepaid expenses and other current assets 1,723,404 1,644,620
Total current assets 10,884,510 10,564,734
Goodwill 3,181,594 3,188,815
Other intangible assets, less accumulated amortization 1,806,123 1,855,714
Property, plant and equipment, less accumulated depreciation (2026 – $2,200,146; 2025 – $2,137,108) 2,142,689 2,172,140
Operating lease assets 2,069,896 2,084,487
Other assets 891,765 929,650
Total assets 20,976,577 20,795,540
Current liabilities:    
Trade accounts payable 6,177,867 6,051,882
Short-term borrowings 1,160,797 943,540
Current portion of long-term debt 356,222 353,788
Dividends payable 147,820 143,291
Other current liabilities 2,113,831 2,295,204
Total current liabilities 9,956,537 9,787,705
Long-term debt 3,478,884 3,498,423
Operating lease liabilities 1,717,913 1,739,478
Pension and other post–retirement benefit liabilities 219,504 219,270
Deferred tax liabilities 374,234 385,948
Other long-term liabilities 737,288 724,353
Equity:    
Preferred stock, par value – $1 per share; authorized – 10,000,000 shares; none issued 0 0
Common stock, par value – $1 per share; authorized – 450,000,000 shares; issued and outstanding – 2026 – 137,624,545 shares; 2025 – 137,617,832 shares 137,625 137,618
Additional paid-in capital 240,228 228,370
Accumulated other comprehensive loss (513,465) (511,766)
Retained earnings 4,611,029 4,568,769
Total parent equity 4,475,417 4,422,991
Noncontrolling interests in subsidiaries 16,800 17,372
Total equity 4,492,217 4,440,363
Total liabilities and equity $ 20,976,577 $ 20,795,540