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WESCO INTERNATIONAL INC

For the period ended Dec 31, 2023. Filed Feb 20, 2024.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 20, 2024

WCC$292.68+2.2%Stored close · as of Nov 6, 2026
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-K

(Mark One)

For the fiscal year ended December 31, 2023

or

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission file number 001-14989

WESCO International, Inc.

(Exact name of registrant as specified in its charter)

Delaware25-1723342
(State or other jurisdiction ofincorporation or organization)(I.R.S. EmployerIdentification No.)
225 West Station Square Drive
Suite 70015219
Pittsburgh,Pennsylvania(Zip Code)
(Address of principal executive offices)

(412)454-2200

(Registrant’s telephone number, including area code)

SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:

Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, par value $.01 per shareWCCNew York Stock Exchange
Depositary Shares, each representing a 1/1,000th interest in a share of Series A Fixed-Rate Reset Cumulative Perpetual Preferred StockWCC PR ANew York Stock Exchange

SECURITIES REGISTERED PURSUANT TO SECTION 12(g) OF THE ACT: None

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes þ Noo

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yeso No þ

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes þ Noo

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes þ Noo

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large Accelerated Filer☑Accelerated Filer☐
Non-accelerated Filer☐Smaller reporting company☐
Emerging growth company☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐

Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. þ

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.☐

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant's executive officers during the relevant recovery period pursuant to§240.10D-1(b).☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes☐ Noþ

The registrant estimates that the aggregate market value of the voting shares held by non-affiliates of the registrant was approximately $9.1 billion as of June 30, 2023, the last business day of the registrant’s most recently completed second fiscal quarter, based on the closing price on the New York Stock Exchange for such stock.

As of February 16, 2024,50,953,600 shares of Common Stock, par value $.01 per share, of the registrant were outstanding.

DOCUMENTS INCORPORATED BY REFERENCE:

Part III of this Form 10-K incorporates by reference portions of the registrant’s Proxy Statement for its 2024 Annual Meeting of Stockholders.

TABLE OF CONTENTS

Page
PART I
Item 1. Business1
Item 1A. Risk Factors11
Item 1B. Unresolved Staff Comments21
Item 1C. Cybersecurity21
Item 2. Properties22
Item 3. Legal Proceedings22
Item 4. Mine Safety Disclosures22
PART II
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities23
Item 6. [Reserved]24
Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations25
Item 7A. Quantitative and Qualitative Disclosures About Market Risk39
Item 8. Financial Statements and Supplementary Data40
Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure87
Item 9A. Controls and Procedures87
Item 9B. Other Information87
Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections87
PART III
Item 10. Directors, Executive Officers and Corporate Governance88
Item 11. Executive Compensation88
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters88
Item 13. Certain Relationships and Related Transactions, and Director Independence88
Item 14. Principal Accountant Fees and Services88
PART IV
Item 15. Exhibits and Financial Statement Schedule89
Signatures96
ContentsView on SEC.gov

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