Company: WCC
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000929008-25-000012
Chunk: 73

Company: WESCO INTERNATIONAL INC
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 73
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 our credit facilities and cash balances. We continue to monitor the sufficiency of our liquidity given the potential impact of current economic conditions and uncertainty, including tariffs, interest rates, and inflation. While we did not face significant challenges with our sources or uses of cash in the first quarter of 2025, future market disruptions could occur which could potentially affect our liquidity. We believe cash provided by operations and financing activities will be adequate to cover our operational and business needs for at least the next twelve months.

We communicate on a regular basis with our lenders regarding our financial and working capital performance, and liquidity position. We were in compliance with all financial covenants and restrictions contained in our debt agreements as of March 31, 2025.

We also measure our ability to meet our debt obligations based on our financial leverage ratio, which was 3.1x as of March 31, 2025 and 2.9x as of December 31, 2024.

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Table of Contents   WESCO INTERNATIONAL, INC. AND SUBSIDIARIES

The following table sets forth our financial leverage ratio, which is a non-GAAP financial measure, for the periods presented:

Twelve Months EndedMarch 31,2025December 31,2024(In millions, except ratios)Net income attributable to common stockholders$662.8 $660.2 Net income attributable to noncontrolling interests1.4 1.8 Preferred stock dividends57.4 57.4 Provision for income taxes236.7 231.6 Interest expense, net356.9 364.9 Depreciation and amortization186.1 183.2 EBITDA$1,501.3 $1,499.1 Other income, net(114.0)(92.7)Stock-based compensation expense29.0 28.9 Digital transformation costs(1)25.0 24.9 Restructuring costs(2)5.1 12.1 Cloud computing arrangement amortization(3)15.2 14.1 Loss on abandonment of assets(4)17.8 17.8 Excise taxes on excess pension plan assets(5)0.1 4.9 Adjusted EBITDA$1,479.5 $1,509.1 As ofMarch 31,2025December 31,2024Short-term debt and current portion of long-term debt, net$21