Company: WCC
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000929008-25-000005
Chunk: 78

Company: WESCO INTERNATIONAL INC
Filing Date: 2025-02-14
Form: 10-K
Item: Item 7
Chunk 78
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.871.528.536.4183.2Other expense (income), net(2)10.559.8(121.2)(41.8)(92.7)Stock-based compensation expense4.46.63.114.828.9Digital transformation costs(3)———24.924.9Loss on abandonment of assets(4)———17.817.8Cloud computing arrangement amortization(5)———14.114.1Restructuring costs(6)———12.112.1Excise taxes on excess pension plan assets(7)———4.94.9Adjusted EBITDA$717.5$621.1$643.4$(472.9)$1,509.1Adjusted EBITDA margin %8.4 %8.2 %11.2 %(1)  The reportable segments do not incur income taxes and interest expense as these costs are centrally controlled through the Corporate tax and treasury functions.(2) Other income for the UBS segment includes the gain on the divestiture of the WIS business as disclosed in Note 5, “Acquisitions and Divestitures”.(3)  Digital transformation costs include costs associated with certain digital transformation initiatives.(4)  Loss on abandonment of assets represents the write-off of certain capitalized cloud computing arrangement implementation costs relating to a third-party developed operations management software product in favor of an application with functionality that better suits the Company’s operations.                                                                            (5)  Cloud computing arrangement amortization consists of expense recognized in selling, general and administrative expenses for capitalized implementation costs for cloud computing arrangements to support our digital transformation initiatives.                                        (6)  Restructuring costs include severance costs incurred pursuant to an ongoing restructuring plan.(7)  Excise taxes on excess pension plan assets represent the excise taxes applicable to the excess pension plan assets following the final settlement of the Company’s U.S. pension plan.                                        

33

Year Ended December 31, 2023(In millions)EESCSSUBSCorporateTotalNet income attributable to common stockholders$668.7$531.1$712.5$(1,204.2)$708.1Net (loss) income attributable to noncontrolling interests(0.5)1.6—(0.5)0.6Preferred stock dividends———57.457.4Provision for income taxes(