WESCO INTERNATIONAL INC
For the period ended Jun 30, 2024. Filed Aug 1, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 1, 2024
WCC$316.70+0.1%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Cash Flows (unaudited)
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
| Six Months Ended | ||
|---|---|---|
| June 30 | ||
| 2024 | 2023 | |
| Operating activities: | ||
| Net income | $348.9 | $389.6 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 91.6 | 91.3 |
| Stock-based compensation expense | 12.8 | 23.9 |
| Amortization of debt discount and debt issuance costs | 8.8 | 7.4 |
| Gain on divestiture | (102.9) | — |
| Loss on abandonment of assets | 17.8 | — |
| Deferred income taxes | (7.2) | 16.2 |
| Other operating activities, net | 11.2 | 1.0 |
| Changes in assets and liabilities: | ||
| Trade accounts receivable, net | (258.8) | (162.9) |
| Other accounts receivable | 60.7 | 55.7 |
| Inventories | 18.9 | (73.9) |
| Other current and noncurrent assets | (90.0) | (56.9) |
| Accounts payable | 341.9 | (78.6) |
| Accrued payroll and benefit costs | (0.8) | (134.1) |
| Other current and noncurrent liabilities | 69.6 | (16.5) |
| Net cash provided by operating activities | 522.5 | 62.2 |
| Investing activities: | ||
| Capital expenditures | (41.2) | (44.3) |
| Acquisition payments | (30.1) | — |
| Proceeds from divestiture, net of cash transferred | 334.2 | — |
| Other investing activities, net | 6.2 | 0.6 |
| Net cash provided by (used in) investing activities | 269.1 | (43.7) |
| Financing activities: | ||
| Repayments of short-term debt, net | — | (3.6) |
| Repayment of 5.50% Anixter Senior Notes due 2023 | — | (58.6) |
| Repayment of Senior Notes due 2025 (Note 9) | (1,500.0) | — |
| Proceeds from issuance of long-term debt | 4,756.0 | 1,596.2 |
| Repayments of long-term debt | (3,374.2) | (1,429.8) |
| Debt issuance costs | (26.6) | — |
| Payments for taxes related to net-share settlement of equity awards | (26.0) | (54.2) |
| Repurchases of common stock | (350.0) | — |
| Payment of common stock dividends | (41.2) | (38.4) |
| Payment of preferred stock dividends | (28.7) | (28.7) |
| Other financing activities, net | 9.3 | (3.3) |
| Net cash used in financing activities | (581.4) | (20.4) |
| Effect of exchange rate changes on cash and cash equivalents | (17.8) | 3.6 |
| Net change in cash and cash equivalents | 192.4 | 1.7 |
| Cash and cash equivalents at the beginning of period | 524.1 | 527.3 |
| Cash and cash equivalents at the end of period | $716.5 | $529.0 |
| Supplemental disclosures: | ||
| Cash paid for interest | $156.0 | $187.7 |
| Cash paid for income taxes | $154.7 | $108.3 |
| Right-of-use assets obtained in exchange for new operating lease liabilities | $132.2 | $120.8 |
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