Company: WCC
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000929008-25-000023
Chunk: 56

Company: WESCO INTERNATIONAL INC
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 1
Chunk 56
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ES(1)CSS(1)UBSCorporateTotalNet income attributable to common stockholders$319.4$210.8$429.3$(640.3)$319.2Net (loss) income attributable to noncontrolling interests(0.4)1.1—0.31.0Preferred stock dividends———28.728.7Provision for income taxes(2)———118.7118.7Interest expense, net(2)———193.2193.2Depreciation and amortization22.536.414.418.391.6Other expense (income), net8.335.2(102.4)(15.4)(74.3)Stock-based compensation expense2.13.31.65.812.8Loss on abandonment of assets(3)———17.817.8Digital transformation costs(4)———12.112.1Restructuring costs(5)———9.09.0Cloud computing arrangement amortization(6)———5.95.9Excise taxes on excess pension plan assets(7)———4.84.8Adjusted EBITDA$351.9$286.8$342.9$(241.1)$740.5Adjusted EBITDA margin %8.4%7.9%11.3%(1) As previously described in Note 2, “Accounting Policies,” the reportable segment information for the six months ended June 30, 2024 for the EES and CSS reportable segments has been recast to conform to the current year presentation.(2) The reportable segments do not incur income taxes and interest expense as these costs are centrally controlled through the Corporate tax and treasury functions.(3)  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.(4)  Digital transformation costs include costs associated with certain digital transformation initiatives.(5)  Restructuring costs include severance costs incurred pursuant to an ongoing restructuring plan.(6) 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.(7)  Excise taxes on excise 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.

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