Medline Inc.
For the period ended Sep 26, 2026. Filed Nov 4, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 26, 2026 · Filed Nov 4, 2026
MDLN$40.91+0.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Balance Sheets
MEDLINE INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
| (in millions, except per share amounts) | As of September 26, 2026 (Unaudited) | As of December 31, 2025 |
|---|---|---|
| ASSETS | ||
| Current assets | ||
| Cash and cash equivalents | $2,321 | $1,939 |
| Short-term investments | 1,287 | — |
| Trade accounts receivable, net of allowance for credit losses of $148 and $152 as of September 26, 2026 and December 31, 2025, respectively | 3,794 | 3,533 |
| Inventories | 4,806 | 4,769 |
| Other current assets | 445 | 438 |
| Total current assets | 12,653 | 10,679 |
| Property, plant, and equipment, net | 4,728 | 4,778 |
| Other non-current assets | ||
| Goodwill | 8,073 | 8,079 |
| Intangible assets, net | 13,377 | 13,893 |
| Deferred tax assets | 833 | 583 |
| Other long-term assets | 514 | 472 |
| Total other non-current assets | 22,797 | 23,027 |
| Total assets | $40,178 | $38,484 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| Current liabilities | ||
| Current portion of long-term borrowings and other short-term borrowings | $29 | $77 |
| Accounts payable | 1,209 | 961 |
| Accrued expenses and other current liabilities | 1,891 | 1,452 |
| Total current liabilities | 3,129 | 2,490 |
| Non-current liabilities | ||
| Long-term borrowings, less current portion | 12,551 | 12,484 |
| Tax receivable agreement liability | 4,403 | 3,542 |
| Other long-term liabilities | 709 | 682 |
| Total non-current liabilities | 17,663 | 16,708 |
| Total liabilities | $20,792 | $19,198 |
| Commitments and contingencies | ||
| Stockholders’ equity | ||
| Class A common stock, par value $0.0001 per share; 50,000 shares authorized; 879 and 812 shares issued and outstanding as of September 26, 2026 and December 31, 2025, respectively | — | — |
| Class B common stock, par value $0.0001 per share; 50,000 shares authorized; 437 and 502 shares issued and outstanding as of September 26, 2026 and December 31, 2025, respectively | — | — |
| Preferred stock, par value $0.0001; 5,000 shares authorized; no shares issued and outstanding | — | — |
| Additional paid-in capital | 11,428 | 10,717 |
| Retained earnings (accumulated deficit) | 377 | (7) |
| Accumulated other comprehensive (loss) income | (4) | 27 |
| Total Medline Inc. stockholders’ equity | 11,801 | 10,737 |
| Noncontrolling interests | 7,585 | 8,549 |
| Total stockholders’ equity | 19,386 | 19,286 |
| Total liabilities and stockholders’ equity | $40,178 | $38,484 |
See notes to unaudited condensed consolidated financial statements.
7
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