Company: WCC
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000929008-25-000023
Chunk: 169

Company: WESCO INTERNATIONAL INC
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 2
Chunk 169
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57.4 Provision for income taxes210.7 231.6 Interest expense, net350.8 364.9 Depreciation and amortization188.4 183.2 EBITDA$1,413.6 $1,499.1 Other income, net(25.4)(92.7)Stock-based compensation expense34.7 28.9 Digital transformation costs(1)26.5 24.9 Restructuring costs(2)4.8 12.1 Cloud computing arrangement amortization(3)19.3 14.1 Loss on abandonment of assets(4)— 17.8 Excise taxes on excess pension plan assets(5)0.1 4.9 Adjusted EBITDA$1,473.6 $1,509.1 As ofJune 30,2025December 31,2024Short-term debt and current portion of long-term debt, net$27.3 $19.5 Long-term debt, net5,641.2 5,045.5 Debt issuance costs and debt discount(6)54.5 47.2 Fair value adjustments to the Anixter Senior Notes(6)— (0.1)Total debt5,723.0 5,112.1 Less: Cash and cash equivalents667.0 702.6 Total debt, net of cash$5,056.0 $4,409.5 Financial leverage ratio3.4 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 is presented in the condensed consolidated balance sheets net of debt issuance and debt discount costs, and includes adjustments to record the long-term debt assumed