Constellation Software Inc., together with its subsidiaries, acquires, builds, and manages vertical market software businesses in Canada, the United States, the United Kingdom, and rest of Europe. Its industry specific software businesses provide specialized and mission-critical software solutions. The company serves public and private sector markets. Constellation Software Inc. was incorporated in 1995 and is headquartered in Toronto, Canada.

Constellation Software Inc.

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Investments Accounted for Using the Equity Method

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New CNH Facility

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Debt with Recourse to Constellation Software Inc.

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Debt Without Recourse to Constellation Software Inc.

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Total Current Liabilities

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Net Property, Plant & Equipment

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Short-Term Debt

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Assets	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Cash and Cash Equivalents	2,575	1,980	1,873	1,284	970	811
Cash
Short-Term Investments	—	—	—	—	—	—
Short-Term Investments and Marketable Securities
Total Cash and Cash Equivalents	2,575	1,980	1,873	1,284	970	811
Accounts Receivable	1,751	1,659	1,535	1,463	1,284	1,111
Accounts Receivable
Unbilled Revenue
Total Trade Receivables	1,751	1,659	1,535	1,463	1,284	1,111
Inventories	67	56	60	51	57	48
Work in Progress
Inventories
Other Current Assets	685	595	628	541	460	497
Other Assets
Restricted Cash
Total Current Assets	5,079	4,290	4,096	3,339	2,770	2,466
Total Current Assets
Net Property, Plant & Equipment	612	551	539	454	415	411
Property and Equipment
Right of Use Assets
Net Intangible Assets	7,907	7,459	6,985	6,675	5,703	4,662
Intangible Assets
Long-Term Investments	481	14	14	—	—	—
Investments Accounted for Using the Equity Method
Other Long-Term Assets	650	533	490	394	280	333
Deferred Income Taxes
Other Assets
Total Assets	14,728	12,849	12,123	10,862	9,169	7,872
Total Assets

Liabilities	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Accounts Payable	1,515	1,591	1,312	1,427	1,083	1,083
Accounts Payable and Accrued Liabilities
Accrued Expenses	112	110	104	89	79	99
Income Taxes Payable
Short-Term Debt	—	—	—	—	—	—
Bank Indebtedness
CSI Facility
New CNH Facility
CNH Facility
Current Portion of Long-Term Debt	825	622	616	1,086	1,017	821
Debt with Recourse to Constellation Software Inc.
Debt Without Recourse to Constellation Software Inc.
Current Portion of Leases	130	115	115	112	98	96
Lease Obligations
Unearned Revenue	2,415	1,965	2,086	1,757	1,869	1,482
Deferred Revenue
Other Current Liabilities	227	258	303	1,012	680	191
TSS Membership Liability
Redeemable Preferred Securities
Dividends Payable
Provisions
Acquisition Holdback Payables
Total Current Liabilities	5,223	4,661	4,537	5,483	4,827	3,772
Total Current Liabilities
Long-Term Debt	3,913	3,544	3,438	2,248	1,409	1,153
Bank Indebtedness
CNH Facility
Debt with Recourse to Constellation Software Inc.
Debt Without Recourse to Constellation Software Inc.
Debentures
Leases	291	252	247	236	217	218
Lease Obligations
Other Long-Term Liabilities	1,319	1,102	998	934	847	796
TSS Membership Liability
Deferred Income Taxes
Acquisition Holdback Payables
Other Liabilities
Total Long-Term Liabilities	5,523	4,899	4,683	3,418	2,474	2,167
Total Non-Current Liabilities
Total Liabilities	10,746	9,561	9,220	8,901	7,300	5,938
Total Liabilities

Equity	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Common Stock	99	99	99	99	99	99
Capital Stock
Accumulated Other Comprehensive Income	129	-224	-158	-99	-112	-150
Other Equity
Accumulated Other Comprehensive Income (Loss)
Retained Earnings	3,068	2,919	2,517	1,876	1,547	1,763
Retained Earnings
Total Common Shareholders' Equity	3,296	2,794	2,458	1,876	1,534	1,712
Minority Interests and Other	686	493	445	85	335	221
Non-Controlling Interests
Total Shareholders' Equity	3,982	3,288	2,903	1,961	1,868	1,933
Total Shareholders' Equity
Total Liabilities and Shareholders' Equity	14,728	12,849	12,123	10,862	9,169	7,872
Total Liabilities and Shareholders' Equity