Company: WCC
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000929008-25-000023
Chunk: 45

Company: WESCO INTERNATIONAL INC
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 1
Chunk 45
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 June 30, 2024(In millions)EES(1)CSS(1)UBSCorporateTotalNet income attributable to common stockholders$174.4$119.2$268.5$(344.4)$217.7Net income (loss) attributable to noncontrolling interests0.10.7—(0.1)0.7Preferred stock dividends———14.414.4Provision for income taxes(2)———87.887.8Interest expense, net(2)———98.898.8Depreciation and amortization11.318.37.49.146.1Other expense (income), net3.315.7(103.2)(11.7)(95.9)Stock-based compensation expense1.11.60.8(0.8)2.7Loss on abandonment of assets(3)———17.817.8Digital transformation costs(4)———6.16.1Cloud computing arrangement amortization(5)———3.03.0Restructuring costs(6)———0.90.9Adjusted EBITDA$190.2$155.5$173.5$(119.1)$400.1Adjusted EBITDA margin %8.9%8.2%12.0%(1)  As previously described in Note 2, “Accounting Policies,” the reportable segment information for the three 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) 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.(6)  Restructuring costs include severance costs incurred pursuant to an ongoing restructuring plan.

Note: Adjusted EBITDA and Adjusted EBITDA margin % are non-GAAP financial measures that provide indicators of the Company's performance and its ability to meet debt service requirements. Adjusted EBITDA