W.W. Grainger, Inc.

NYSE-GWW

Operating Activities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Net Income	321	508	500	497	505	490
Net Earnings
Depreciation & Amortization	65	64	61	62	59	60
Depreciation and Amortization
Share-Based Compensation Expense	14	23	12	14	14	23
Stock-Based Compensation
Other Adjustments	260	32	23	-4	35	43
Provision for Credit Losses
Deferred Income Taxes and Tax Uncertainties
Impairment of Goodwill, Intangible and Other Assets
Non-Cash Lease Expense
Net Gains from Sales of Assets and Business Divestitures
Impairment Loss and Net Losses from Business Divestitures
Income from Equity Method Investment
Changes in Trade Receivables	-40	-84	-128	73	22	-42
Change in Accounts Receivable
Changes in Inventories	-8	-25	6	-163	15	-5
Inventories
Changes in Accounts Payable	-46	77	154	-79	-85	-18
Trade Accounts Payable
Changes in Accrued Expenses	64	-18	-42	-16	54	17
Change in Accrued Liabilities
Changes in Income Taxes Payable	-5	-143	106	61	-2	-169
Income Taxes - Net
Changes in Other Operating Activities	-28	-57	-46	-17	-6	12
Prepaid Expenses and Other Assets
Operating Lease Liabilities
Accrued Employment-Related Benefits Cost
Employment-Related and Other Liabilities
Other - Net
Change in Accrued Employment-Related Benefits Cost
Other Non-Current Liabilities
Cash from Operating Activities	597	377	646	428	611	411
Net Cash Provided by Operating Activities

Investing Activities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Capital Expenditure	-258	-175	-125	-258	-88	-76
Capital Expenditures
Proceeds from Sale of Property, Plant & Equipment	—	4	—	1	1	—
Proceeds from Sales of Assets and Business Divestitures
Payments for Business Acquisitions	—	—	—	—	—	—
Cash Paid for Business Acquisitions, Net of Cash Acquired
Proceeds from Business Divestments	—	—	—	—	—	—
Net Cash Received for Business Divestiture
Net Proceeds of Business Acquisitions, Divestitures and Sales of Assets
Other Investing Activities	-2	13	—	-1	2	17
Equity Method Investment
Equity Method Proceeds
Other - Net
Cash from Investing Activities	-260	-158	-125	-258	-85	-59
Net Cash Used in Investing Activities

Financing Activities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Issuance of Short-Term Debt	—	—	—	—	—	—
Change in Commercial Paper
Borrowings Under Lines of Credit
Repayments of Short-Term Debt	—	—	—	—	—	—
Payments Against Lines of Credit
Net Issuance / (Repayments) of Short-Term Debt	—	—	—	—	—	—
Issuance of Long-Term Debt	27	62	1	—	500	2
Proceeds from Debt
Proceeds from Long-Term Debt
Repayments of Long-Term Debt	—	-1	-502	-1	-21	—
Payments of Debt
Payments of Long-Term Debt
Net Issuance / (Repayments) of Long-Term Debt	27	61	-501	-1	479	2
Issuance of Common Shares	—	1	2	4	16	1
Proceeds from Stock Options Exercised
Repurchases of Common Shares	-292	-253	-284	-468	-231	-274
Payments for Employee Taxes Withheld from Stock Awards
Purchases of Treasury Stock
Net Issuance / (Repurchases) of Common Shares	-292	-252	-282	-464	-215	-273
Common Share Dividends Paid	-133	-110	-115	-100	-115	-101
Cash Dividends Paid
Other Financing Activities	—	-1	—	—	-1	—
Excess Tax Benefits from Stock-Based Compensation
Other - Net
Change in Lines of Credit
Change in Long-Term Debt
Cash from Financing Activities	-398	-303	-898	-565	148	-372
Net Cash Used in Financing Activities

Free Cash Flow	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Free Cash Flow	339	202	521	170	523	335
NOPAT	332.7	519.6	508.4	503.3	514.2	496.7
Levered Free Cash Flow	103	260	80	52	904	279
Unlevered Free Cash Flow	116.7	242.6	622.4	93.3	461.2	317.7
Net Change in Cash	-61	-84	-377	-395	674	-20