Company: WCC
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000929008-25-000023
Chunk: 121

Company: WESCO INTERNATIONAL INC
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 8
Chunk 121
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The following table reconciles other non-operating income to adjusted other non-operating (income) expense, which is a non-GAAP financial measure, for the periods presented: 

Six Months EndedJune 30, 2025June 30, 2024Adjusted Other (Income) Expense, net:(In millions)Other income, net$(7.1)$(74.3)Loss on termination of business arrangement(1)(0.3)(3.8)Pension settlement cost(2)—(5.5)Gain on divestiture(3)—102.9Adjusted other (income) expense, net$(7.4)$19.3

(1)    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.

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

(3)    Gain on divestiture represents the gain recognized as a result of the divestiture of the Wesco Integrated Supply (“WIS”) business on April 1, 2024.

Income Taxes

The provision for income taxes was $97.9 million for the first six months of 2025 compared to $118.7 million in last year's comparable period, resulting in effective tax rates of 25.0% and 25.4%, respectively.

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Table of Contents   WESCO INTERNATIONAL, INC. AND SUBSIDIARIES

Net Income and Earnings per Share

Net income and earnings per diluted share attributable to common stockholders were $293.2 million and $5.92, respectively, for the first six months of 2025 compared to $319.2 million and $6.22, respectively, for the first six months of 2024. Adjusted for the non-GAAP adjustments above and the related income tax effects, and the $27.6 million gain recognized as a result of the Company's redemption of its outstanding Series A Preferred Stock, net income and earnings per diluted share attributable to common stockholders were $277.2 million and $5.60, respectively, for the first six months of 2025 and $282.9 million and $5.51, respectively, for the first six months of 2024.

The increase in adjusted earnings per diluted share primarily reflects the increase in net sales as well as the decrease in interest expense, as discussed above, partially offset by the