Company: WCC
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000929008-25-000012
Chunk: 119

Company: WESCO INTERNATIONAL INC
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 8
Chunk 119
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 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$21.0 $19.5 Long-term debt, net5,136.6 5,045.5 Debt issuance costs and debt discount(6)57.9 47.2 Fair value adjustments to the Anixter Senior Notes(6)— (0.1)Total debt5,215.5 5,112.1 Less: Cash and cash equivalents681.6 702.6 Total debt, net of cash$4,533.9 $4,409.5 Financial leverage ratio3.1 2.9 

(1)Digital transformation costs include costs associated with certain digital transformation initiatives.

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

(3)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.

(4)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.

(5)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.

(6)Debt