Company: WCC
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000929008-25-000005
Chunk: 84

Company: WESCO INTERNATIONAL INC
Filing Date: 2025-02-14
Form: 10-K
Item: Item 7
Chunk 84
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vision for income taxes231.6 225.9 Interest expense, net364.9 389.3 Depreciation and amortization183.2 181.3 EBITDA$1,499.1 $1,562.6 Other (income) expense, net(92.7)25.1 Stock-based compensation expense28.9 45.5 Merger-related and integration costs(1)— 19.3 Restructuring costs(2)12.1 16.7 Digital transformation costs(3)24.9 36.1 Excise taxes on excess pension plan assets(4)4.9 — Loss on abandonment of assets(5)17.8 — Cloud computing arrangement amortization(6)14.1 — Adjusted EBITDA$1,509.1 $1,705.3 As ofDecember 31, 2024December 31, 2023Short-term debt and current portion of long-term debt, net$19.5 $8.6 Long-term debt, net5,045.5 5,313.1 Debt discount and debt issuance costs(7)47.2 43.0 Fair value adjustments to the Anixter Senior Notes(7)(0.1)(0.1)Total debt5,112.1 5,364.6 Less: Cash and cash equivalents702.6 524.1 Total debt, net of cash$4,409.5 $4,840.5 Financial leverage ratio2.92.8

(1)    Merger-related and integration costs include integration and professional fees associated with the integration of Wesco and Anixter, as well as advisory, legal, and separation costs associated with the merger between the two companies.

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

(3)    Digital transformation costs include costs associated with certain digital transformation initiatives, which have historically been included in merger-related and integration costs in prior years.

(4)    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.

(5)    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