Company: WCC
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000929008-25-000012
Chunk: 68

Company: WESCO INTERNATIONAL INC
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 68
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3$(278.6)$104.0Net (loss) income attributable to noncontrolling interests(0.1)0.1—(0.1)(0.1)Preferred stock dividends———14.414.4Provision for income taxes(1)———36.136.1Interest expense, net(1)———86.386.3Depreciation and amortization12.219.07.89.448.4Other expense (income), net4.410.9(0.2)(14.9)0.2Stock-based compensation expense1.01.30.47.510.2Digital transformation costs(2)———6.26.2Cloud computing arrangement amortization(3)———3.93.9Restructuring costs(4)———1.11.1Adjusted EBITDA$142.6$158.5$138.3$(128.7)$310.7Adjusted EBITDA margin %6.9 %7.9 %10.8 %(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)  Digital transformation costs include costs associated with certain digital transformation initiatives.(3) 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.(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)