Company: WCC
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000929008-25-000005
Chunk: 81

Company: WESCO INTERNATIONAL INC
Filing Date: 2025-02-14
Form: 10-K
Item: Item 7
Chunk 81
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(1)    Digital transformation costs include costs associated with certain digital transformation initiatives.

(2)    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.

(3)    Restructuring costs include severance costs incurred pursuant to an ongoing restructuring plan.

(4)    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.

(5)    Merger-related and integration costs include integration and professional fees associated with the integration of Wesco and Anixter, as well as advisory, legal, and separation costs associated with the merger between the two companies.

(6)    Accelerated trademark amortization represents additional amortization expense resulting from changes in the estimated useful lives of certain legacy trademarks that have migrated to our master brand architecture.

(7)    Loss on termination of business arrangement represents the loss recognized as a result of management’s decision to terminate a business arrangement with a third party.

(8)    For the year ended December 31, 2024, pension settlement cost represents expense related to the settlement of the Company’s U.S. pension plan. For the year ended December 31, 2023, pension settlement cost represents expense related to the partial settlement of the Company’s U.S. pension plan, partially offset by pension settlement gains related to other plans.

(9)    The adjustments to income from operations and other (income) expense, net for the years ended December 31, 2024 and 2023 have been tax effected at rates of 26.2% and 27.5%, respectively.

35

Year Ended December 31,Adjusted Earnings Per Diluted Share:20242023(In millions, except per share data)Adjusted income from operations$1,282.9 $1,480.1 Interest expense, net364.9 389.3 Adjusted other expense, net23.4 22.3 Adjusted income before income taxes894.6 1,068.5 Adjusted provision for income taxes216.8 246.9 Adjusted net income677.8 821.6 Net income attributable to noncontrolling interests1.8 0.6 Adjusted net income attributable to WESCO International, Inc.676.0