Company: WCC
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000929008-25-000023
Chunk: 40

Company: WESCO INTERNATIONAL INC
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 1
Chunk 40
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 totaled $92.9 million for the second quarter of 2025 compared to $98.8 million for the second quarter of 2024. The decrease of $5.9 million, or 6.0%, was primarily driven by lower interest rates on the Receivables Facility as well as lower borrowings and lower interest rates on the Revolving Credit Facility, partially offset by higher borrowings on the Receivables Facility throughout the second quarter of 2025 compared to the second quarter of 2024 due to the impact of the WIS divestiture on outstanding borrowings and increased working capital investments.

Other Income, net

Other non-operating income totaled $7.3 million for the second quarter of 2025 compared to $95.9 million for the second quarter of 2024. We recognized a net foreign currency exchange gain of $3.0 million for the second quarter of 2025 compared to a net foreign currency exchange loss of $3.4 million for the second quarter of 2024. We recognized $2.3 million of income in the second quarter of 2025 from an adjustment to the fair value of the contingent consideration liability related to the entroCIM acquisition. We recognized net benefits of $0.8 million and $0.4 million associated with the non-service cost components of net periodic pension (benefit) cost for the three months ended June 30, 2025 and 2024, respectively.

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: 

Three Months EndedJune 30, 2025June 30, 2024Adjusted Other (Income) Expense, net:(In millions)Other income, net$(7.3)$(95.9)Gain on divestiture(1)—102.9Loss on termination of business arrangement(2)—(3.8)Adjusted other (income) expense, net$(7.3)$3.2

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

(2)    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.

Income Taxes

The provision for income taxes was $61.8 million for