CDW (NASDAQ: CDW) realigns segments and recasts 2024–2025 results
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
CDW Corporation is providing supplemental financial information after realigning its segment reporting beginning in fiscal 2026. The company now reports three main segments — Commercial, Government, and Education — with CDW UK and CDW Canada grouped in an all other category labeled “Other.”
The filing recasts unaudited quarterly segment data for 2024 and 2025 to match this structure and updates how headquarters function costs are allocated between operating segments and enterprise-wide expenses. For example, total net sales were $5,511.0 million and operating income was $430.7 million for the quarter ended December 31, 2025 under the new segmentation. The company states this change does not alter or restate previously reported consolidated financial statements.
Positive
- None.
Negative
- None.
8-K Event Classification
Item 7.01 — Regulation FD Disclosure
1 item
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Key Figures
Q4 2025 total net sales: $5,511.0 million
Q4 2025 operating income: $430.7 million
Q4 2025 Commercial net sales: $3,450.0 million
+4 more
7 metrics
Q4 2025 total net sales
$5,511.0 million
Three months ended December 31, 2025, all segments total
Q4 2025 operating income
$430.7 million
Three months ended December 31, 2025, consolidated under new segments
Q4 2025 Commercial net sales
$3,450.0 million
Three months ended December 31, 2025, Commercial segment
Q4 2025 Government net sales
$758.7 million
Three months ended December 31, 2025, Government segment
Q4 2025 Education net sales
$633.4 million
Three months ended December 31, 2025, Education segment
Q4 2024 total net sales
$5,186.0 million
Three months ended December 31, 2024, all segments total
Q4 2024 operating income
$408.6 million
Three months ended December 31, 2024, consolidated under recast segments
Key Terms
Regulation FD, reportable segments, segment reporting, operating income (loss), +2 more
6 terms
Regulation FD regulatory
"Item 7.01 Regulation FD Disclosure CDW Corporation (the “Company”) is furnishing this"
Regulation FD is a rule that prevents company insiders, like executives, from sharing important information with some people before others get it. It matters because it helps ensure all investors have equal access to key news, making the stock market fairer and reducing chances of insider trading.
reportable segments financial
"the Company now has the following three reportable segments: Commercial, Government, and Education."
Reportable segments are the separate lines of business or geographic areas a company breaks out in its financial reports so investors can see how different parts perform. Like looking at slices of a pie instead of the whole pie, they reveal which activities drive revenue, profit or losses and help investors judge growth prospects, risks and whether management allocates resources effectively.
segment reporting financial
"supplemental information related to its realignment in segment reporting in fiscal year 2026."
Segment reporting is the practice of breaking a company's financial results into the separate parts of its business—such as product lines, geographic areas, or divisions—so outsiders can see how each part is performing. For investors, it matters because it reveals which areas drive profit or loss, like inspecting individual rooms in a house to know which need repair or add value, helping assess growth prospects and risks more accurately.
operating income (loss) financial
"Operating income (loss) | $ | 384.9 | $ | 63.0 | $ | 48.0 | $ | 29.5"
gross profit financial
"Gross profit | 820.0 | 175.0 | 123.1 | 136.3 | — | 1,254.4"
Gross profit is the amount a business keeps from sales after subtracting the direct costs to make or buy the products or services sold — like the money left from a lemonade stand after paying for lemons, sugar and cups. Investors watch gross profit to judge how well a company’s core operations and pricing cover those direct costs, revealing its basic profitability and whether margins are improving or shrinking over time.
Emerging growth company regulatory
"Emerging growth company Item 7.01 Regulation FD Disclosure"
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_________________
FORM 8-K
_________________
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 1, 2026
______________________________
(Exact name of registrant as specified in its charter)
_______________________________
| (State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||||||||
| (Address of principal executive offices) | (Zip Code) | |||||||||||||
Registrant’s telephone number, including area code: (847) 465-6000
None
(Former name or former address, if changed since last report)
_______________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01 Regulation FD Disclosure
CDW Corporation (the “Company”) is furnishing this Current Report on Form 8-K (this “Current Report”) to provide investors supplemental information related to its realignment in segment reporting in fiscal year 2026. Certain unaudited historical financial information has been recast to align with the Company’s new reportable segment structure. This supplemental financial information only affects the manner in which certain financial information for the Company’s reportable segments was previously disclosed and is being provided to aid in comparability. It has no impact on – and in no way amends or restates – previously reported consolidated financial statements for any period.
Effective January 1, 2026, the Company realigned its customer‑facing sales organization to better meet the evolving needs of its customers and end markets. As a result of this realignment, the Company now has the following three reportable segments: Commercial, Government, and Education.
•The Commercial segment primarily serves corporate, financial services, and healthcare customers in the United States, each of which represents a unique customer channel. Customers previously included in the Small business segment are included across the customer channels within the Commercial segment.
•The Government segment primarily serves federal, state, and local agencies in the United States, along with certain private sector business customers that primarily support or interact with government agencies.
•The Education segment primarily serves primary, secondary, and higher education institutions in the United States.
•CDW UK and CDW Canada will remain unchanged in this new reporting structure, in an all other category (“Other”).
The Company also updated its methodology for allocating headquarters function costs to align with how those costs are managed and reviewed, distinguishing between costs that directly support the operating segments and costs that are enterprise‑wide in nature. The updated methodology was applied to historical periods presented, resulting in an adjusted amount of operating expense retained by Headquarters.
This information is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.
2
CDW CORPORATION AND SUBSIDIARIES HISTORIC RECAST OF SEGMENT DATA (dollars in millions) (unaudited) | |||||||||||||||||||||||||||||||||||
| Commercial | Government | Education | Other | Headquarters | Total | ||||||||||||||||||||||||||||||
| Three Months Ended December 31, 2025 | |||||||||||||||||||||||||||||||||||
| Net sales | $ | 3,450.0 | $ | 758.7 | $ | 633.4 | $ | 668.9 | $ | — | $ | 5,511.0 | |||||||||||||||||||||||
| Cost of sales | 2,630.0 | 583.7 | 510.3 | 532.6 | — | 4,256.6 | |||||||||||||||||||||||||||||
| Gross profit | 820.0 | 175.0 | 123.1 | 136.3 | — | 1,254.4 | |||||||||||||||||||||||||||||
Other segment expense items(1) | 435.1 | 112.0 | 75.1 | 106.8 | 94.7 | 823.7 | |||||||||||||||||||||||||||||
| Operating income (loss) | $ | 384.9 | $ | 63.0 | $ | 48.0 | $ | 29.5 | $ | (94.7) | $ | 430.7 | |||||||||||||||||||||||
| Three Months Ended September 30, 2025 | |||||||||||||||||||||||||||||||||||
| Net sales | $ | 3,294.6 | $ | 830.9 | $ | 913.5 | $ | 698.4 | $ | — | $ | 5,737.4 | |||||||||||||||||||||||
| Cost of sales | 2,559.1 | 641.1 | 728.2 | 553.5 | — | 4,481.9 | |||||||||||||||||||||||||||||
| Gross profit | 735.5 | 189.8 | 185.3 | 144.9 | — | 1,255.5 | |||||||||||||||||||||||||||||
Other segment expense items(1) | 400.9 | 122.5 | 98.6 | 101.9 | 88.3 | 812.2 | |||||||||||||||||||||||||||||
| Operating income (loss) | $ | 334.6 | $ | 67.3 | $ | 86.7 | $ | 43.0 | $ | (88.3) | $ | 443.3 | |||||||||||||||||||||||
| Three Months Ended June 30, 2025 | |||||||||||||||||||||||||||||||||||
| Net sales | $ | 3,631.3 | $ | 746.6 | $ | 926.6 | $ | 672.1 | $ | — | $ | 5,976.6 | |||||||||||||||||||||||
| Cost of sales | 2,842.1 | 578.4 | 784.8 | 530.1 | — | 4,735.4 | |||||||||||||||||||||||||||||
| Gross profit | 789.2 | 168.2 | 141.8 | 142.0 | — | 1,241.2 | |||||||||||||||||||||||||||||
Other segment expense items(1) | 417.5 | 117.2 | 85.7 | 99.4 | 101.2 | 821.0 | |||||||||||||||||||||||||||||
| Operating income (loss) | $ | 371.7 | $ | 51.0 | $ | 56.1 | $ | 42.6 | $ | (101.2) | $ | 420.2 | |||||||||||||||||||||||
| Three Months Ended March 31, 2025 | |||||||||||||||||||||||||||||||||||
| Net sales | $ | 3,255.3 | $ | 604.9 | $ | 658.5 | $ | 680.4 | $ | — | $ | 5,199.1 | |||||||||||||||||||||||
| Cost of sales | 2,505.5 | 470.0 | 553.1 | 548.2 | — | 4,076.8 | |||||||||||||||||||||||||||||
| Gross profit | 749.8 | 134.9 | 105.4 | 132.2 | — | 1,122.3 | |||||||||||||||||||||||||||||
Other segment expense items(1) | 389.1 | 109.4 | 80.1 | 93.1 | 89.2 | 760.9 | |||||||||||||||||||||||||||||
| Operating income (loss) | $ | 360.7 | $ | 25.5 | $ | 25.3 | $ | 39.1 | $ | (89.2) | $ | 361.4 | |||||||||||||||||||||||
(1)Primarily includes payroll and other coworker costs, advertising expense and other selling and administrative costs. | |||||||||||||||||||||||||||||||||||
3
CDW CORPORATION AND SUBSIDIARIES HISTORIC RECAST OF SEGMENT DATA (dollars in millions) (unaudited) | |||||||||||||||||||||||||||||||||||
| Commercial | Government | Education | Other | Headquarters | Total | ||||||||||||||||||||||||||||||
| Three Months Ended December 31, 2024 | |||||||||||||||||||||||||||||||||||
| Net sales | $ | 3,304.3 | $ | 714.4 | $ | 560.2 | $ | 607.1 | $ | — | $ | 5,186.0 | |||||||||||||||||||||||
| Cost of sales | 2,541.4 | 560.3 | 445.9 | 483.1 | — | 4,030.7 | |||||||||||||||||||||||||||||
| Gross profit | 762.9 | 154.1 | 114.3 | 124.0 | — | 1,155.3 | |||||||||||||||||||||||||||||
Other segment expense items(1) | 374.4 | 104.9 | 77.1 | 93.9 | 96.4 | 746.7 | |||||||||||||||||||||||||||||
| Operating income (loss) | $ | 388.5 | $ | 49.2 | $ | 37.2 | $ | 30.1 | $ | (96.4) | $ | 408.6 | |||||||||||||||||||||||
| Three Months Ended September 30, 2024 | |||||||||||||||||||||||||||||||||||
| Net sales | $ | 3,129.3 | $ | 754.3 | $ | 993.0 | $ | 640.0 | $ | — | $ | 5,516.6 | |||||||||||||||||||||||
| Cost of sales | 2,432.2 | 576.4 | 792.8 | 514.5 | — | 4,315.9 | |||||||||||||||||||||||||||||
| Gross profit | 697.1 | 177.9 | 200.2 | 125.5 | — | 1,200.7 | |||||||||||||||||||||||||||||
Other segment expense items(1) | 367.0 | 102.5 | 77.2 | 93.0 | 79.4 | 719.1 | |||||||||||||||||||||||||||||
| Operating income (loss) | $ | 330.1 | $ | 75.4 | $ | 123.0 | $ | 32.5 | $ | (79.4) | $ | 481.6 | |||||||||||||||||||||||
| Three Months Ended June 30, 2024 | |||||||||||||||||||||||||||||||||||
| Net sales | $ | 3,085.1 | $ | 688.9 | $ | 1,047.4 | $ | 602.0 | $ | — | $ | 5,423.4 | |||||||||||||||||||||||
| Cost of sales | 2,364.4 | 526.3 | 868.2 | 481.4 | — | 4,240.3 | |||||||||||||||||||||||||||||
| Gross profit | 720.7 | 162.6 | 179.2 | 120.6 | — | 1,183.1 | |||||||||||||||||||||||||||||
Other segment expense items(1) | 385.0 | 108.1 | 79.7 | 96.4 | 80.8 | 750.0 | |||||||||||||||||||||||||||||
| Operating income (loss) | $ | 335.7 | $ | 54.5 | $ | 99.5 | $ | 24.2 | $ | (80.8) | $ | 433.1 | |||||||||||||||||||||||
| Three Months Ended March 31, 2024 | |||||||||||||||||||||||||||||||||||
| Net sales | $ | 3,018.5 | $ | 604.6 | $ | 618.4 | $ | 631.2 | $ | — | $ | 4,872.7 | |||||||||||||||||||||||
| Cost of sales | 2,323.3 | 461.8 | 513.8 | 510.5 | — | 3,809.4 | |||||||||||||||||||||||||||||
| Gross profit | 695.2 | 142.8 | 104.6 | 120.7 | — | 1,063.3 | |||||||||||||||||||||||||||||
Other segment expense items(1) | 372.4 | 104.5 | 77.3 | 95.4 | 85.7 | 735.3 | |||||||||||||||||||||||||||||
| Operating income (loss) | $ | 322.8 | $ | 38.3 | $ | 27.3 | $ | 25.3 | $ | (85.7) | $ | 328.0 | |||||||||||||||||||||||
(1)Primarily includes payroll and other coworker costs, advertising expense and other selling and administrative costs. | |||||||||||||||||||||||||||||||||||
4
CDW CORPORATION AND SUBSIDIARIES HISTORIC RECAST OF SEGMENT DATA (dollars in millions) (unaudited) | |||||||||||||||||||||||||||||
| Three Months Ended December 31, 2025 | |||||||||||||||||||||||||||||
| Commercial | Government | Education | Other | Total | |||||||||||||||||||||||||
| Sales by Customer Channel | |||||||||||||||||||||||||||||
| Corporate | $ | 2,265.5 | $ | — | $ | — | $ | — | $ | 2,265.5 | |||||||||||||||||||
| Financial Services | 396.6 | — | — | — | 396.6 | ||||||||||||||||||||||||
| Healthcare | 787.9 | — | — | — | 787.9 | ||||||||||||||||||||||||
| Government | — | 758.7 | — | — | 758.7 | ||||||||||||||||||||||||
| Education | — | — | 633.4 | — | 633.4 | ||||||||||||||||||||||||
| Other | — | — | — | 668.9 | 668.9 | ||||||||||||||||||||||||
| Total Net sales | $ | 3,450.0 | $ | 758.7 | $ | 633.4 | $ | 668.9 | $ | 5,511.0 | |||||||||||||||||||
| Three Months Ended September 30, 2025 | |||||||||||||||||||||||||||||
| Commercial | Government | Education | Other | Total | |||||||||||||||||||||||||
| Sales by Customer Channel | |||||||||||||||||||||||||||||
| Corporate | $ | 2,231.4 | $ | — | $ | — | $ | — | $ | 2,231.4 | |||||||||||||||||||
| Financial Services | 330.0 | — | — | — | 330.0 | ||||||||||||||||||||||||
| Healthcare | 733.2 | — | — | — | 733.2 | ||||||||||||||||||||||||
| Government | — | 830.9 | — | — | 830.9 | ||||||||||||||||||||||||
| Education | — | — | 913.5 | — | 913.5 | ||||||||||||||||||||||||
| Other | — | — | — | 698.4 | 698.4 | ||||||||||||||||||||||||
| Total Net sales | $ | 3,294.6 | $ | 830.9 | $ | 913.5 | $ | 698.4 | $ | 5,737.4 | |||||||||||||||||||
| Three Months Ended June 30, 2025 | |||||||||||||||||||||||||||||
| Commercial | Government | Education | Other | Total | |||||||||||||||||||||||||
| Sales by Customer Channel | |||||||||||||||||||||||||||||
| Corporate | $ | 2,364.4 | $ | — | $ | — | $ | — | $ | 2,364.4 | |||||||||||||||||||
| Financial Services | 478.6 | — | — | — | 478.6 | ||||||||||||||||||||||||
| Healthcare | 788.3 | — | — | — | 788.3 | ||||||||||||||||||||||||
| Government | — | 746.6 | — | — | 746.6 | ||||||||||||||||||||||||
| Education | — | — | 926.6 | — | 926.6 | ||||||||||||||||||||||||
| Other | — | — | — | 672.1 | 672.1 | ||||||||||||||||||||||||
| Total Net sales | $ | 3,631.3 | $ | 746.6 | $ | 926.6 | $ | 672.1 | $ | 5,976.6 | |||||||||||||||||||
5
CDW CORPORATION AND SUBSIDIARIES HISTORIC RECAST OF SEGMENT DATA (dollars in millions) (unaudited) | |||||||||||||||||||||||||||||
| Three Months Ended March 31, 2025 | |||||||||||||||||||||||||||||
| Commercial | Government | Education | Other | Total | |||||||||||||||||||||||||
| Sales by Customer Channel | |||||||||||||||||||||||||||||
| Corporate | $ | 2,190.0 | $ | — | $ | — | $ | — | $ | 2,190.0 | |||||||||||||||||||
| Financial Services | 334.1 | — | — | — | 334.1 | ||||||||||||||||||||||||
| Healthcare | 731.2 | — | — | — | 731.2 | ||||||||||||||||||||||||
| Government | — | 604.9 | — | — | 604.9 | ||||||||||||||||||||||||
| Education | — | — | 658.5 | — | 658.5 | ||||||||||||||||||||||||
| Other | — | — | — | 680.4 | 680.4 | ||||||||||||||||||||||||
| Total Net sales | $ | 3,255.3 | $ | 604.9 | $ | 658.5 | $ | 680.4 | $ | 5,199.1 | |||||||||||||||||||
| Three Months Ended December 31, 2024 | |||||||||||||||||||||||||||||
| Commercial | Government | Education | Other | Total | |||||||||||||||||||||||||
| Sales by Customer Channel | |||||||||||||||||||||||||||||
| Corporate | $ | 2,221.0 | $ | — | $ | — | $ | — | $ | 2,221.0 | |||||||||||||||||||
| Financial Services | 341.9 | — | — | — | 341.9 | ||||||||||||||||||||||||
| Healthcare | 741.4 | — | — | — | 741.4 | ||||||||||||||||||||||||
| Government | — | 714.4 | — | — | 714.4 | ||||||||||||||||||||||||
| Education | — | — | 560.2 | — | 560.2 | ||||||||||||||||||||||||
| Other | — | — | — | 607.1 | 607.1 | ||||||||||||||||||||||||
| Total Net sales | $ | 3,304.3 | $ | 714.4 | $ | 560.2 | $ | 607.1 | $ | 5,186.0 | |||||||||||||||||||
| Three Months Ended September 30, 2024 | |||||||||||||||||||||||||||||
| Commercial | Government | Education | Other | Total | |||||||||||||||||||||||||
| Sales by Customer Channel | |||||||||||||||||||||||||||||
| Corporate | $ | 2,114.5 | $ | — | $ | — | $ | — | $ | 2,114.5 | |||||||||||||||||||
| Financial Services | 312.9 | — | — | — | 312.9 | ||||||||||||||||||||||||
| Healthcare | 701.9 | — | — | — | 701.9 | ||||||||||||||||||||||||
| Government | — | 754.3 | — | — | 754.3 | ||||||||||||||||||||||||
| Education | — | — | 993.0 | — | 993.0 | ||||||||||||||||||||||||
| Other | — | — | — | 640.0 | 640.0 | ||||||||||||||||||||||||
| Total Net sales | $ | 3,129.3 | $ | 754.3 | $ | 993.0 | $ | 640.0 | $ | 5,516.6 | |||||||||||||||||||
6
CDW CORPORATION AND SUBSIDIARIES HISTORIC RECAST OF SEGMENT DATA (dollars in millions) (unaudited) | |||||||||||||||||||||||||||||
| Three Months Ended June 30, 2024 | |||||||||||||||||||||||||||||
| Commercial | Government | Education | Other | Total | |||||||||||||||||||||||||
| Sales by Customer Channel | |||||||||||||||||||||||||||||
| Corporate | $ | 2,088.2 | $ | — | $ | — | $ | — | $ | 2,088.2 | |||||||||||||||||||
| Financial Services | 313.7 | — | — | — | 313.7 | ||||||||||||||||||||||||
| Healthcare | 683.2 | — | — | — | 683.2 | ||||||||||||||||||||||||
| Government | — | 688.9 | — | — | 688.9 | ||||||||||||||||||||||||
| Education | — | — | 1,047.4 | — | 1,047.4 | ||||||||||||||||||||||||
| Other | — | — | — | 602.0 | 602.0 | ||||||||||||||||||||||||
| Total Net sales | $ | 3,085.1 | $ | 688.9 | $ | 1,047.4 | $ | 602.0 | $ | 5,423.4 | |||||||||||||||||||
| Three Months Ended March 31, 2024 | |||||||||||||||||||||||||||||
| Commercial | Government | Education | Other | Total | |||||||||||||||||||||||||
| Sales by Customer Channel | |||||||||||||||||||||||||||||
| Corporate | $ | 2,107.3 | $ | — | $ | — | $ | — | $ | 2,107.3 | |||||||||||||||||||
| Financial Services | 285.5 | — | — | — | 285.5 | ||||||||||||||||||||||||
| Healthcare | 625.7 | — | — | — | 625.7 | ||||||||||||||||||||||||
| Government | — | 604.6 | — | — | 604.6 | ||||||||||||||||||||||||
| Education | — | — | 618.4 | — | 618.4 | ||||||||||||||||||||||||
| Other | — | — | — | 631.2 | 631.2 | ||||||||||||||||||||||||
| Total Net sales | $ | 3,018.5 | $ | 604.6 | $ | 618.4 | $ | 631.2 | $ | 4,872.7 | |||||||||||||||||||
7
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| CDW CORPORATION | ||||||||||||||
| Date: | By: | /s/ Albert J. Miralles | ||||||||||||
| Albert J. Miralles | ||||||||||||||
| Chief Financial Officer and Executive Vice President, Enterprise Business Operations | ||||||||||||||
8
FAQ
What did CDW (CDW) change in its segment reporting for 2026?
CDW reorganized its customer-facing sales structure into three reportable segments: Commercial, Government, and Education, with CDW UK and CDW Canada reported in an all other category called “Other”. Historical quarterly data for 2024 and 2025 were recast to match this new structure.
Does CDW’s new segment structure affect its consolidated financial statements?
The company states the updated segment structure and recast data have no impact on previously reported consolidated financial statements. The changes only affect how segment information is presented to align reporting with the new organizational and cost allocation approach.
How did CDW (CDW) perform by segment in Q4 2025 under the new structure?
For the quarter ended December 31, 2025, CDW reported net sales of $3,450.0 million in Commercial, $758.7 million in Government, $633.4 million in Education, and $668.9 million in Other, totaling $5,511.0 million in net sales across all segments.
What were CDW’s operating income figures by segment in Q4 2025?
In the quarter ended December 31, 2025, CDW reported operating income of $384.9 million for Commercial, $63.0 million for Government, $48.0 million for Education, and $29.5 million for Other, with Headquarters showing a $(94.7) million loss, for total operating income of $430.7 million.
How were CDW headquarters costs treated in the recast segment data?
CDW updated its methodology for allocating headquarters function costs, separating expenses that directly support operating segments from those considered enterprise-wide. This new allocation approach was applied to historical periods and results in an adjusted amount of operating expense retained by the Headquarters category.
What Regulation FD information is CDW providing in this 8-K filing?
CDW is furnishing supplemental, unaudited historical segment financial data recast to reflect its new reportable segments and updated headquarters cost allocation. The company notes this information is being furnished under Regulation FD and is not deemed filed for liability purposes under Section 18.