Financial Analysis

Commitments and Contingencies As a company with a substantial employee population and with operations in a large number of countries, Ingram Micro is involved, either as a plaintiff or defendant, in a variety of ongoing claims, demands, suits, investigations, tax matters and proceedings that arise from time to time in the ordinary course of its business. The Company records a provision with respect to a claim, suit, investigation, or proceeding when it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. If there is at least a reasonable possibility that a material loss may have been incurred associated with pending legal claims, or when assertion of unasserted material claims is considered probable, we disclose such fact, and if reasonably estimable, we provide an estimate of the possible loss or range of possible loss. We record our best estimate of a loss related to pending legal and regulatory proceedings when the loss is considered probable and the amount can be reasonably estimated. Where a range of loss can be reasonably estimated with no best estimate in the range, we record the minimum estimated liability. As additional information becomes available, we assess the potential liability related to pending legal and regulatory proceedings and revise our estimates and update our disclosures accordingly. Significant judgment is required in both the determination of probability and the determination as to whether a loss is r …

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Employee Awards Prior to our initial public offering (the IPO), we issued time-vested and performance-vested cash awards to certain employees. The time-vested cash awards vest over a time period of three years, and the performance-vested cash awards vest upon the achievement of a certain performance target measured after a time period of three years. The performance condition for the cash awards for grants to management is based on earnings growth. Cumulative compensation expense for cash awards is recognized as a liability. Each cash award has a fixed fair value of $1.00. We recognize these compensation costs, net of an estimated forfeiture rate, over the requisite service period of the award, which is the vesting term of the outstanding cash award. We estimate the forfeiture rate based on our historical experience. In connection with our IPO, our board of directors adopted, and our stockholders approved, the 2024 Stock Incentive Plan (the 2024 Plan ) as more fully described in Note 2, Significant Accounting Policies to the Consolidated Financial Statements included in our Annual Report. Subsequent to the IPO, we began granting time-vesting restricted stock units that vest over a time period of three years, and the performance-vesting restricted stock units that vest upon the achievement of certain performance targets measured after a time period of three years. The fair value of each award is determined based on the closing stock price at the date of grant, reduced by the p …

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Fair Value Measurements Our assets and liabilities carried at fair value are classified and disclosed in one of the following three categories: Level 1 quoted market prices in active markets for identical assets and liabilities; Level 2 observable market-based inputs or unobservable inputs that are corroborated by market data; and Level 3 unobservable inputs that are not corroborated by market data. As of June 27, 2026, our assets and liabilities measured at fair value on a recurring basis are categorized in the table below: June 27, 2026 Total Level 1 Level 2 Level 3 Assets: Derivative assets $ 18,742 $ $ 18,742 $ Investments held in Rabbi Trust 88,787 88,787 Total assets at fair value $ 107,529 $ 88,787 $ 18,742 $ Liabilities: Derivative liabilities $ 4,446 $ $ 4,446 $ Total liabilities at fair value $ 4,446 $ $ 4,446 $ As of December 27, 2025, our assets and liabilities measured at fair value on a recurring basis are categorized in the table below: December 27, 2025 Total Level 1 Level 2 Level 3 Assets: Derivative assets $ 14,183 $ $ 14,183 $ Investments held in Rabbi Trust 93,001 93,001 Total assets at fair value $ 107,184 $ 93,001 $ 14,183 $ Liabilities: Derivative liabilities $ 6,692 $ $ 6,692 $ Total liabilities at fair value $ 6,692 $ $ 6,692 $ The fair value of the cash equivalents approximated cost and the change in the fair value of the marketable trading securities was recognized in the Condensed Consolidated Statements of Income to reflect these investments at fa …

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Income Taxes For the Thirteen Weeks Ended June 27, 2026, and Thirteen Weeks Ended June 28, 2025, our effective tax rate was 29.6% and 36.8%, respectively. For the Twenty-Six Weeks Ended June 27, 2026, and Twenty-Six Weeks Ended June 28, 2025, our effective tax rate was 29.7% and 33.2%, respectively. Under U.S. accounting rules for income taxes, interim effective tax rates may vary significantly depending on the actual operating results in the various tax jurisdictions, as well as changes in the valuation allowance related to the expected recovery of deferred tax assets. The tax provision for the Thirteen Weeks Ended June 27, 2026, included $5,731 of tax expense, or 3.6 percentage points of the effective tax rate, which is associated with withholding tax expense from our business operations in the Latin America region, primarily from our Miami Export business. The tax provision for the Thirteen Weeks Ended June 28, 2025, included $4,721 of tax expense, or 7.9 percentage points of the effective tax rate, which is associated with withholding tax expense from our business operations in the Latin America region, primarily from our Miami Export business. The tax provision for the Twenty-Six Weeks Ended June 27, 2026, included $10,849 of tax expense, or 3.6 percentage points of the effective tax rate, which is associated with withholding tax expense from our business operations in the Latin America region, primarily from our Miami Export business. The tax provision for the Twenty-Si …

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Debt The carrying value of our outstanding debt consists of the following: June 27, 2026 December 27, 2025 Senior secured notes, 4.75% due 2029, net of unamortized deferred financing costs of $19,705 and $23,214, respectively $ 1,980,295 $ 1,976,786 Term loan credit facility, net of unamortized discount of $9,856 and $10,592, respectively, and unamortized deferred financing costs of $24,621 and $26,459, respectively 567,423 764,849 ABL revolving credit facility 550,000 Revolving trade accounts receivable-backed financing programs 279,437 353,100 Lines of credit and other debt (1) 418,274 104,629 Total debt 3,795,429 3,199,364 Short-term debt and current maturities of long-term debt (1,236,764) (449,583) Total long-term debt $ 2,558,665 $ 2,749,781 (1) The increase in borrowings was due to borrowings under an uncommitted facility in the United States. In February 2026 , we voluntarily repaid $200,000 on our Term Loan Credit Facility. …

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"Recently Adopted Accounting Standards In July 2025, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2025-05, Financial Instruments - Credit Losses (Topic 326), which provides a practical expedient in developing reasonable and supportable forecasts where they can assume that current conditions as of the balance sheet date do not change for the remaining life of the asset. The am endments are effective for fiscal years beginning after December 15, 2025, and for interim periods within those annual reporting periods. We have determined that we will not apply the practical expedient and therefore the adoption of this ASU did not have an impact on our consolidated financial statements and related disclosures. New Accounting Standards In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which requires disclosure in the notes to the financial statements of specified information about certain costs and expenses. The amendments are effective for fiscal years beginning after December 15, 2026, and for interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The amendments should be applied either prospectively to financial statements issued for reporting periods after the effective date of this ASU or retrospectively to any or all prior periods presented in the …

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Restructuring Costs In the fourth quarter of 2024, we implemented further initiatives to enhance organizational efficiency and strengthen customer service capabilities to better position us for long-term, sustainable growth, which included organizational and staffing changes as well as headcount reductions. Completion of these actions continued into the first quarter of 2025, with charges totaling $18,269, inclusive of amounts recognized in the fourth quarter of 2024. In the second half of 2025, we implemented further organizational and staffing changes, which continued into 2026, resulting in charges totaling $31,228, inclusive of $17,750 recognized during the Twenty-Six Weeks Ended June 27, 2026 and amounts recognized in the third and fourth quarters of 2025. The charges during the Twenty-Six Weeks Ended June 27, 2026 primarily relate to restructuring actions taken that impacted certain back office and operational functions as well as certain operational facilities. There were no material restructuring costs i n the Thirteen Weeks Ended June 28, 2025. The following tables summarize the restructur ing costs incurred in the Thirteen Weeks Ended June 27, 2026 and Twenty-Six Weeks Ended June 27, 2026, and June 28, 2025: Restructuring Costs Headcount Reduction (Number of Employees) Employee Termination Benefits Facility Costs/Other Total Restructuring Costs Thirteen Weeks Ended June 27, 2026 North America $ 1,652 $ $ 1,652 EMEA 6,086 21 6,107 Asia-Pacific 278 278 Latin America 2 …

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Segment Information FASBs Accounting Standards Codification 280, Segment Reporting, establishes standards for reporting information about operating segments. Operating segments are defined as components of an enterprise about which separate financial information is evaluated regularly by the chief operating decision maker (CODM) in deciding how to allocate resources and in assessing performance. Our CODM is our Chief Executive Officer. Our reportable segments coincide with the geographic operating segments which include North America, EMEA, Asia-Pacific, and Latin America. The measure of segment profit is income from operations. Our CODM utilizes income from operations to analyze and compare year-over-year and budget-to-actual segment-level operational performance and profitability before non-operational items, ensure optimal alignment with our strategic priorities and make strategic decisions concerning resource allocation across our operating segments. Geographic areas in which we operated our reportable segments during the periods presented include North America (the United States and Canada), EMEA (Austria, Belgium, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hungary, Ireland, Israel, Italy, Kosovo, Lebanon, Luxembourg, Macedonia, Morocco, Netherlands, Norway, Oman, Pakistan, Poland, Portugal, Qatar, Romania, Saudi Arabia, Serbia, Slovenia, Spain, Sweden, Switzerland, Turkey, United Arab Emirates and the United King …

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"Summary of Significant Accounting Policies Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the financial statement date and reported amounts of revenue and expenses during the reporting period. We review our estimates and assumptions on an ongoing basis. Significant estimates primarily relate to the realizable value of accounts receivable, vendor programs, inventory, goodwill, intangible and other long-lived assets, income taxes and contingencies and litigation. Actual results could differ significantly from these estimates. Revenue Recognition Revenue Streams In our distribution services model, we buy, hold title to and sell technology products and provide services to resellers, referred to subsequently as our customers, while also providing resellers with multi-vendor solutions, integration services, electronic commerce tools, marketing, financing, training and enablement, technical support and inventory management. In C lient and Endpoint Solutions, A dvanced Solutions, and Cloud-based Solutions, we generally sell products and services to our customers (resellers) based on purchase orders instead of long-term contracts. Our agreements are generally not subject to minimum purchase requirements. Our customers place purchase orders with us for each transaction. Generally, our custome …

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Subsequent Events In July 2026, we amended our revolving trade accounts receivable-backed financing program in Europe to extend the maturity date from October 2026 to July 2031. On July 30, 2026, we announced that our board of directors had declared a cash dividend on our Common Stock of $0.086 per share. The dividend is payable on August 25, 2026, to stockholders of record as of August 11, 2026.

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