Company: WCC
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000929008-25-000034
Chunk: 127

Company: WESCO INTERNATIONAL INC
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 8
Chunk 127
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 with all financial covenants and restrictions contained in our debt agreements as of September 30, 2025.

We also measure our ability to meet our debt obligations based on our financial leverage ratio, which was 3.5x as of September 30, 2025 and 2.9x as of December 31, 2024.

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Table of Contents   WESCO INTERNATIONAL, INC. AND SUBSIDIARIES

The following table sets forth our financial leverage ratio, which is a non-GAAP financial measure, for the periods presented:

Twelve Months EndedSeptember 30,2025December 31,2024(In millions, except ratios)Net income attributable to common stockholders$631.7 $660.2 Net income attributable to noncontrolling interests1.8 1.8 Gain on redemption of Series A Preferred Stock(27.6)— Preferred stock dividends41.6 57.4 Provision for income taxes199.2 231.6 Interest expense, net363.4 364.9 Depreciation and amortization191.5 183.2 EBITDA$1,401.6 $1,499.1 Other income, net(0.5)(92.7)Stock-based compensation expense38.6 28.9 Digital transformation costs(1)31.5 24.9 Restructuring costs(2)2.6 12.1 Cloud computing arrangement amortization(3)24.5 14.1 Loss on abandonment of assets(4)— 17.8 Excise taxes on excess pension plan assets(5)0.1 4.9 Adjusted EBITDA$1,498.4 $1,509.1 As ofSeptember 30,2025December 31,2024Short-term debt and current portion of long-term debt, net$28.0 $19.5 Long-term debt, net5,721.9 5,045.5 Debt issuance costs and debt discount(6)51.3 47.2 Fair value adjustments to the Anixter Senior Notes(6)— (0.1)Total debt5,801.2 5,112.1 Less: Cash and cash equivalents571.9 702.6 Total debt, net of cash$5,229.3 $4,409.5 Financial leverage ratio