Company: WCC
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000929008-25-000012
Chunk: 116

Company: WESCO INTERNATIONAL INC
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 8
Chunk 116
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 plan assets following the final settlement of the Company's U.S. pension plan.

(4)    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.

(5)    Pension settlement cost represents expense related to the final settlement of the Company's U.S. pension plan. 

(6)    The adjustments to income from operations and other (income) expense, net have been tax effected at rates of 26.4% and 27.0% for the three months ended March 31, 2025 and 2024, respectively. 

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Table of Contents   WESCO INTERNATIONAL, INC. AND SUBSIDIARIES

Three Months EndedAdjusted Earnings per Diluted Share:March 31, 2025March 31, 2024(In millions, except per share data)Adjusted income from operations$248.2 $281.9 Interest expense, net86.3 94.4 Adjusted other (income) expense, net(0.1)16.1 Adjusted income before income taxes162.0 171.4 Adjusted provision for income taxes38.1 37.5 Adjusted net income123.9 133.9 Net (loss) income attributable to noncontrolling interests(0.1)0.3 Adjusted net income attributable to WESCO International, Inc.124.0 133.6 Preferred stock dividends14.4 14.4 Adjusted net income attributable to common stockholders$109.6 $119.2 Diluted shares49.6 51.9 Adjusted earnings per diluted share$2.21 $2.30 

Note: For the three months ended March 31, 2025, SG&A expenses, income from operations, other non-operating (income) expense, the provision for income taxes and earnings per diluted share have been adjusted to exclude digital transformation costs, restructuring costs, the loss on termination of business arrangement, and the related income tax effects. For the three months ended March 31, 2024, SG&A expenses, income from operations, other non-operating expense, the provision for income taxes and earnings per diluted share have been adjusted to exclude digital transformation costs, restructuring costs, pension settlement cost and excise taxes on excess pension plan assets related to the final settlement of the Anixter Inc. Pension Plan, and the related income tax effects.