CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income from continuing operations	$ 72.0	$ 60.7	$ 70.7
Adjustments to reconcile income from continuing operations to net cash provided by operating activities:
Depreciation and amortization	7.7	7.6	6.4
Provision (benefit) for deferred income taxes	0.6	(0.5)	2.0
Provision for credit losses	0.9	2.1	3.2
Compensation expense related to equity compensation plans	7.4	2.8	3.0
Changes in operating assets and liabilities:
Accounts receivable	(12.3)	1.6	(2.6)
Inventories	(6.4)	(17.1)	33.3
Prepaid expenses and other assets	(0.9)	(2.6)	(0.8)
Income taxes	1.2	1.7	(1.1)
Accounts payable	1.7	(4.0)	1.2
Accrued expenses, other current liabilities and other liabilities	5.8	(1.9)	(3.3)
Net cash provided by operating activities from continuing operations	77.7	50.4	112.0
Net cash provided by operating activities from discontinued operations	0.1	0.3	0.0
Net cash provided by operating activities	77.8	50.7	112.0
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment	(3.1)	(3.8)	(3.9)
Acquisitions, net of cash acquired	(4.0)	(0.0)	(72.3)
Net cash used in investing activities from continuing operations	(7.1)	(3.8)	(76.2)
CASH FLOWS FROM FINANCING ACTIVITIES:
Dividends paid	(40.3)	(38.4)	(30.6)
Borrowings under credit facility	0.0	0.0	50.6
Repayments under credit facility	(0.0)	(0.0)	(51.2)
Proceeds from issuance of common stock	2.7	1.8	0.6
Payment of payroll taxes on stock-based compensation through shares withheld	(2.3)	(1.6)	(0.5)
Proceeds from the issuance of common stock from employee stock purchase plans	1.5	1.5	1.4
Purchase of treasury shares	(9.1)	(0.0)	(0.0)
Net cash used in financing activities from continuing operations	(47.5)	(36.7)	(29.7)
EFFECTS OF EXCHANGE RATES ON CASH	(0.3)	0.0	(0.2)
NET INCREASE IN CASH	22.9	10.2	5.9
CASH AND CASH EQUIVALENTS – BEGINNING OF YEAR	44.6	34.4	28.5
CASH AND CASH EQUIVALENTS – END OF YEAR	67.5	44.6	34.4
Supplemental disclosures:
Interest paid	0.3	0.3	1.1
Income taxes paid	24.1	17.9	23.7
Right-of-use assets obtained in exchange for lease obligations:
Operating and finance leases	$ 32.9	$ 4.5	$ 6.3

GLOBAL INDUSTRIAL Co 10-K