Company: WCC
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000929008-25-000012
Chunk: 114

Company: WESCO INTERNATIONAL INC
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 8
Chunk 114
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 general and administrative expenses for capitalized implementation costs for cloud computing arrangements to support our digital transformation initiatives.(4)  Restructuring costs include severance costs incurred pursuant to an ongoing restructuring plan.

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Table of Contents   WESCO INTERNATIONAL, INC. AND SUBSIDIARIES

Three Months Ended March 31, 2024(In millions)EES(1)CSS(1)UBSCorporateTotalNet income attributable to common stockholders$144.9$91.7$160.8$(296.0)$101.4Net (loss) income attributable to noncontrolling interests(0.4)0.4—0.30.3Preferred stock dividends———14.414.4Provision for income taxes(2)———30.930.9Interest expense, net(2)———94.494.4Depreciation and amortization11.118.17.09.345.5Other expense (income), net5.119.40.8(3.7)21.6Stock-based compensation expense1.11.60.86.610.1Restructuring costs(3)———8.08.0Digital transformation costs(4)———6.16.1Excise taxes on excess pension plan assets(5)———4.84.8Cloud computing arrangement amortization(6)———2.92.9Adjusted EBITDA$161.8$131.2$169.4$(122.0)$340.4Adjusted EBITDA margin %7.8 %7.7 %10.7 %(1)  As previously described in Note 2, “Accounting Policies,” the reportable segment information for the three months ended March 31, 2024 for the EES and CSS reportable segments has been recast to conform to the current year presentation.(2)  The reportable segments do not incur income taxes and interest expense as these costs are centrally controlled through the Corporate tax and treasury functions.(3)  Restructuring costs include severance costs incurred pursuant to an ongoing restructuring plan.(4)  Digital transformation costs include costs associated with certain digital transformation initiatives.(5) 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.(6) Cloud computing arrangement amortization consists of expense recognized in selling, general and administrative expenses for capitalized implementation costs for cloud computing arrangements