Company: WCC
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000929008-25-000023
Chunk: 158

Company: WESCO INTERNATIONAL INC
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 2
Chunk 158
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 $23.4 million, or 4.0%, reflects an increase in sales exceeded by higher cost of goods sold as a percentage of net sales due to a decrease in gross margin in all three segments, as well as an increase in SG&A expenses, as described above.

Interest Expense, net

Net interest expense totaled $179.2 million for the first six months of 2025 compared to $193.2 million for the first six months of 2024. The decrease of $14.0 million, or 7.2%, primarily reflects lower borrowings on the Receivables Facility and the Revolving Credit Facility, partly driven by repayment from refinancing activity related to the issuance of the 2029, 2032, and 2033 Notes, as well as lower interest rates on both facilities. 

Other Income, net

Other non-operating income totaled $7.1 million for the first six months of 2025 compared to $74.3 million for the first six months of 2024. We recognized $2.4 million of income in the first six months of 2025 from an adjustment to the fair value of the contingent consideration liability related to the entroCIM acquisition. Due to fluctuations in the U.S. dollar against certain foreign currencies, we recognized a net foreign currency exchange gain of $1.9 million for the first six months of 2025 compared to a net loss of $20.7 million for the first six months of 2024. We recognized net benefits of $1.6 million and net costs of $5.5 million associated with the non-service cost components of net periodic pension cost (benefit) for the six months ended June 30, 2025 and 2024, respectively. The year-over-year decrease in net periodic pension costs was due to pension settlement cost to recognize unrealized losses previously reported as a component of other comprehensive income (loss) related to the benefit obligation of the Anixter Inc. Pension Plan as a result of the final settlement of the plan in the first quarter of 2024.

The following table reconciles other non-operating income to adjusted other non-operating (income) expense, which is a non-GAAP financial measure, for the periods presented: 

Six Months EndedJune 30, 2025June 30, 2024Adjusted Other (Income) Expense, net:(In millions)Other income, net$(7.1)$(74.3)Loss on termination of