万宝盛华 2026年季度报告

(Mark One) ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934:For the quarterly period ended:March 31, 2026 OR Registrant’s telephone number, including area code: (414) 961-1000Securities registered pursuant to Section 12(b) of the Act: Name of each exchange on whichregisteredNew York Stock Exchange Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of theSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was requiredto file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes☒No☐Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (Section 232.405 of this chapter) during the preceding 12 months (or forsuch shorter period that the Registrant was required to submit such files). Yes☒No☐ Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, asmaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,”“smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Accelerated filer☐Smaller reporting company☐ Large accelerated filer☒Non-accelerated filer☐Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition periodfor complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐NoIndicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date. Shares Outstandingat May 6, 202646,507,342 Class Common Stock, $.01 par value Table of Contents INDEX PageNumber PART 1 PART I - FINANCIAL INFORMATION Item 1 – Financial Statements (unaudited) Consolidated Balance Sheets (Unaudited) PART 1 Consolidated Statements of Operations (Unaudited)(in millions, except per share data) Consolidated Statements of Comprehensive Income (Unaudited)(in millions) PART 1 Consolidated Statements of Cash Flows (Unaudited)(in millions) PART 1 Consolidated Statements of Shareholders' Equity (Unaudited)(in millions, except share and per share data) PART 1 Notes to Consolidated Financial Statements(Unaudited)For the three months ended March 31, 2026 and 2025 (in millions, except share and per share data) (1)Basis of Presentation and Accounting Policies Basis of Presentation Certain information and footnote disclosures normally included in the financial statements prepared in accordance withUnited States Generally Accepted Accounting Principles ("GAAP") have been condensed or omitted pursuant to therules and regulations of the Securities and Exchange Commission, although we believe that the disclosures areadequate to make the information presented not misleading. These Consolidated Financial Statements should be readin conjunction with the Consolidated Financial Statements included in our 2025 Annual Report on Form 10-K. The information furnished reflects all adjustments that, in the opinion of management, were necessary for a fairstatement of the Consolidated Financial Statements for the periods presented. Such adjustments were of a normalrecurring nature, unless otherwise disclosed. Allowance for Credit Losses We have an allowance for credit losses recorded as an estimate of the accounts receivable balance that may not becollected. This allowance is calculated on an entity-by-entity basis with consideration of historical write-off experience,age of receivables, market conditions, and a specific review for expected credit losses. Items that affect this balancemainly include provision for credit losses and the write-off of accounts receivable balances. A rollforward of our allowance for credit losses is shown below: Leases We determine whether a contract is or contains a lease at contract inception. We recognize right-of-use (“ROU”) assetsand lease liabilities on the balance sheet for leases with contract terms longer than 12 months. We classify the lease asa finance or operating lease which affects the recognition, measurement, and presentation of lease expenses and cashflows. Our Consolidated Balance Sheets present ROU assets, short-term lease liability and long-term lease liability asseparate line items. ROU assets represent our right to use an underlying asset for the lease term. Lease liabilities represent our obligationto make lease payments arising from the lease. Lease liabilities are recognized at commencement date based on thepresent value of remaining lease payments over the lease term. As the rate i