Company: WCC
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000929008-25-000023
Chunk: 89

Company: WESCO INTERNATIONAL INC
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 8
Chunk 89
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 follows:For the year ending December 31,(In millions)Remaining 2025$22.1 202634.5 202722.2 20283.6 

7. STOCKHOLDERS’ EQUITY

Share RepurchasesOn May 31, 2022, the Company’s Board of Directors adopted a resolution authorizing the repurchase of up to $1 billion of the Company’s common stock and 10.625% Series A Fixed-Rate Reset Cumulative Perpetual Preferred Stock (the “Series A Preferred Stock”). The share repurchase authorization has no expiration date and may be modified, suspended, or terminated at any time without prior notice.During the three and six months ended June 30, 2025, the Company entered into spot repurchase transactions through a broker to purchase 147,300 and 300,528 shares, respectively, of its common stock in the open market for cash totaling $25.3 million and $50.6 million, respectively, including excise taxes. Wesco funded the repurchases with available cash and borrowings under its accounts receivable securitization and revolving credit facilities. During the three and six months ended June 30, 2024, the Company entered into spot repurchase transactions through a broker to purchase 1,679,176 and 2,022,323 shares, respectively, of its common stock in the open market for cash totaling $303.0 million and $353.5 million, respectively, including excise taxes. Wesco funded the repurchases with available cash and borrowings under its accounts receivable securitization and revolving credit facilities.Series A Preferred Stock RedemptionOn February 13, 2025, the Company's Board of Directors adopted a resolution authorizing the redemption of all outstanding shares of the Company's Series A Preferred Stock. As this authorization was separate from the May 31, 2022 share purchase authorization noted above, the redemption of Series A Preferred Stock did not impact the approximate dollar value of shares that may be repurchased under the earlier 2022 authorization.As of June 22, 2025, the Company redeemed all 21,612 outstanding shares of its Series A Preferred Stock, and the related depositary shares, each representing 1/1,000th of one share of Series A Preferred Stock, at a redemption price of $25,000 per share, for a total payment of $540.3 million. The Company accrued $5.