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OTHER FINANCIAL INFORMATION | 3 Months Ended
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Mar. 31, 2017
Condensed Financial Information [Abstract] |
OTHER FINANCIAL INFORMATION | 10. CONDENSED CONSOLIDATING FINANCIAL INFORMATION WESCO Distribution has outstanding $500 million in aggregate principal amount of 2021 Notes and $350 million in aggregate principal amount of 2024 Notes. The 2021 Notes and 2024 Notes are unsecured senior obligations of WESCO Distribution and are fully and unconditionally guaranteed on a senior unsecured basis by WESCO International. Condensed consolidating financial information for WESCO International, Inc., WESCO Distribution, Inc. and the non-guarantor subsidiaries is presented in the following tables.
| Condensed Consolidating Balance Sheet
| March 31, 2017
(In thousands of dollars) | WESCO International, Inc. |  | WESCO Distribution, Inc. |  | Non-Guarantor Subsidiaries |  | Consolidating and Eliminating Entries |  | Consolidated
Cash and cash equivalents | $ | — |  |  | $ | 47,034 |  |  | $ | 55,966 |  |  | $ | — |  |  | $ | 103,000 |
Trade accounts receivable, net | — |  |  | — |  |  | 1,060,574 |  |  | — |  |  | 1,060,574 |
Inventories | — |  |  | 378,004 |  |  | 472,114 |  |  | — |  |  | 850,118 |
Prepaid expenses and other current assets | 13,646 |  |  | 16,747 |  |  | 206,022 |  |  | (46,747 | ) |  | 189,668 |
Total current assets | 13,646 |  |  | 441,785 |  |  | 1,794,676 |  |  | (46,747 | ) |  | 2,203,360 |
Intercompany receivables, net | — |  |  | — |  |  | 2,074,583 |  |  | (2,074,583 | ) |  | — |
Property, buildings and equipment, net | — |  |  | 51,250 |  |  | 105,338 |  |  | — |  |  | 156,588 |
Intangible assets, net | — |  |  | 3,255 |  |  | 382,049 |  |  | — |  |  | 385,304 |
Goodwill | — |  |  | 244,648 |  |  | 1,480,899 |  |  | — |  |  | 1,725,547 |
Investments in affiliates | 3,634,476 |  |  | 4,064,912 |  |  | — |  |  | (7,699,388 | ) |  | — |
Other assets | — |  |  | 18,615 |  |  | 21,835 |  |  | — |  |  | 40,450 |
Total assets | $ | 3,648,122 |  |  | $ | 4,824,465 |  |  | $ | 5,859,380 |  |  | $ | (9,820,718 | ) |  | $ | 4,511,249 |
Accounts payable | $ | — |  |  | $ | 396,633 |  |  | $ | 315,752 |  |  | $ | — |  |  | $ | 712,385 |
Short-term debt | — |  |  | — |  |  | 28,037 |  |  | — |  |  | 28,037 |
Other current liabilities | — |  |  | 50,519 |  |  | 175,875 |  |  | (46,747 | ) |  | 179,647 |
Total current liabilities | — |  |  | 447,152 |  |  | 519,664 |  |  | (46,747 | ) |  | 920,069 |
Intercompany payables, net | 1,574,705 |  |  | 499,878 |  |  | — |  |  | (2,074,583 | ) |  | — |
Long-term debt, net | — |  |  | 965,067 |  |  | 344,733 |  |  | — |  |  | 1,309,800 |
Other noncurrent liabilities | 12,737 |  |  | 45,986 |  |  | 165,174 |  |  | — |  |  | 223,897 |
Total WESCO International, Inc. stockholders' equity | 2,060,680 |  |  | 2,866,382 |  |  | 4,833,006 |  |  | (7,699,388 | ) |  | 2,060,680 |
Noncontrolling interests | — |  |  | — |  |  | (3,197 | ) |  | — |  |  | (3,197 | )
Total liabilities and stockholders’ equity | $ | 3,648,122 |  |  | $ | 4,824,465 |  |  | $ | 5,859,380 |  |  | $ | (9,820,718 | ) |  | $ | 4,511,249 |
| Condensed Consolidating Balance Sheet
| December 31, 2016
(In thousands of dollars) | WESCO International, Inc. |  | WESCO Distribution, Inc. |  | Non-Guarantor Subsidiaries |  | Consolidating and Eliminating Entries |  | Consolidated
Cash and cash equivalents | $ | — |  |  | $ | 41,552 |  |  | $ | 68,579 |  |  | $ | — |  |  | $ | 110,131 |
Trade accounts receivable, net | — |  |  | — |  |  | 1,034,402 |  |  | — |  |  | 1,034,402 |
Inventories | — |  |  | 364,562 |  |  | 456,879 |  |  | — |  |  | 821,441 |
Prepaid expenses and other current assets | 13,647 |  |  | 24,214 |  |  | 225,412 |  |  | (56,790 | ) |  | 206,483 |
Total current assets | 13,647 |  |  | 430,328 |  |  | 1,785,272 |  |  | (56,790 | ) |  | 2,172,457 |
Intercompany receivables, net | — |  |  | — |  |  | 2,056,783 |  |  | (2,056,783 | ) |  | — |
Property, buildings and equipment, net | — |  |  | 51,824 |  |  | 105,783 |  |  | — |  |  | 157,607 |
Intangible assets, net | — |  |  | 3,417 |  |  | 389,945 |  |  | — |  |  | 393,362 |
Goodwill | — |  |  | 244,648 |  |  | 1,476,066 |  |  | — |  |  | 1,720,714 |
Investments in affiliates | 3,584,857 |  |  | 4,018,661 |  |  | — |  |  | (7,603,518 | ) |  | — |
Other assets | — |  |  | 23,846 |  |  | 22,998 |  |  | — |  |  | 46,844 |
Total assets | $ | 3,598,504 |  |  | $ | 4,772,724 |  |  | $ | 5,836,847 |  |  | $ | (9,717,091 | ) |  | $ | 4,490,984 |
Accounts payable | $ | — |  |  | $ | 381,795 |  |  | $ | 302,926 |  |  | $ | — |  |  | $ | 684,721 |
Short-term debt | — |  |  | — |  |  | 20,920 |  |  | — |  |  | 20,920 |
Other current liabilities | — |  |  | 53,458 |  |  | 194,488 |  |  | (56,790 | ) |  | 191,156 |
Total current liabilities | — |  |  | 435,253 |  |  | 518,334 |  |  | (56,790 | ) |  | 896,797 |
Intercompany payables, net | 1,572,486 |  |  | 484,297 |  |  | — |  |  | (2,056,783 | ) |  | — |
Long-term debt, net | — |  |  | 983,449 |  |  | 379,686 |  |  | — |  |  | 1,363,135 |
Other noncurrent liabilities | 12,737 |  |  | 46,476 |  |  | 161,827 |  |  | — |  |  | 221,040 |
Total WESCO International, Inc. stockholders' equity | 2,013,281 |  |  | 2,823,249 |  |  | 4,780,269 |  |  | (7,603,518 | ) |  | 2,013,281 |
Noncontrolling interests | — |  |  | — |  |  | (3,269 | ) |  | — |  |  | (3,269 | )
Total liabilities and stockholders’ equity | $ | 3,598,504 |  |  | $ | 4,772,724 |  |  | $ | 5,836,847 |  |  | $ | (9,717,091 | ) |  | $ | 4,490,984 |
| Condensed Consolidating Statement of Income and Comprehensive Income
| Three Months Ended
| March 31, 2017
(In thousands of dollars) | WESCO International, Inc. |  | WESCO Distribution, Inc. |  | Non-Guarantor Subsidiaries |  | Consolidating and Eliminating Entries |  | Consolidated
Net sales | $ | — |  |  | $ | 778,611 |  |  | $ | 1,019,654 |  |  | $ | (25,674 | ) |  | $ | 1,772,591 |
Cost of goods sold (excluding depreciation and |  |  |  |  |  |  |  |  |
amortization) | — |  |  | 621,748 |  |  | 826,499 |  |  | (25,674 | ) |  | 1,422,573 |
Selling, general and administrative expenses | — |  |  | 135,257 |  |  | 131,707 |  |  | — |  |  | 266,964 |
Depreciation and amortization | — |  |  | 4,753 |  |  | 11,212 |  |  | — |  |  | 15,965 |
Results of affiliates’ operations | 37,800 |  |  | 34,428 |  |  | — |  |  | (72,228 | ) |  | — |
Interest expense (income), net | — |  |  | 21,008 |  |  | (4,287 | ) |  | — |  |  | 16,721 |
Income tax (benefit) expense | — |  |  | (1,037 | ) |  | 13,605 |  |  | — |  |  | 12,568 |
Net income | 37,800 |  |  | 31,310 |  |  | 40,918 |  |  | (72,228 | ) |  | 37,800 |
Net income attributable to noncontrolling interests | — |  |  | — |  |  | 71 |  |  | — |  |  | 71 |
Net income attributable to WESCO International, Inc. | $ | 37,800 |  |  | $ | 31,310 |  |  | $ | 40,847 |  |  | $ | (72,228 | ) |  | $ | 37,729 |
Other comprehensive income: |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | 11,568 |  |  | 11,568 |  |  | 11,568 |  |  | (23,136 | ) |  | 11,568 |
Post retirement benefit plan adjustment | 252 |  |  | 252 |  |  | 252 |  |  | (504 | ) |  | 252 |
Comprehensive income attributable to WESCO International, Inc. | $ | 49,620 |  |  | $ | 43,130 |  |  | $ | 52,667 |  |  | $ | (95,868 | ) |  | $ | 49,549 |
| Condensed Consolidating Statement of Income and Comprehensive Income
| Three Months Ended
| March 31, 2016
(In thousands of dollars) | WESCO International, Inc. |  | WESCO Distribution, Inc. |  | Non-Guarantor Subsidiaries |  | Consolidating and Eliminating Entries |  | Consolidated
Net sales | $ | — |  |  | $ | 800,490 |  |  | $ | 1,000,045 |  |  | $ | (24,574 | ) |  | $ | 1,775,961 |
Cost of goods sold (excluding depreciation and |  |  |  |  |  |  |  |  |
amortization) | — |  |  | 639,673 |  |  | 805,694 |  |  | (24,574 | ) |  | 1,420,793 |
Selling, general and administrative expenses | (378 | ) |  | 80,208 |  |  | 189,456 |  |  | — |  |  | 269,286 |
Depreciation and amortization | — |  |  | 5,106 |  |  | 11,268 |  |  | — |  |  | 16,374 |
Results of affiliates’ operations | 38,459 |  |  | (8,684 | ) |  | — |  |  | (29,775 | ) |  | — |
Interest expense (income), net | 6,318 |  |  | 18,859 |  |  | (6,348 | ) |  | — |  |  | 18,829 |
Provision for income taxes | (2,015 | ) |  | 18,046 |  |  | 114 |  |  | — |  |  | 16,145 |
Net income (loss) | 34,534 |  |  | 29,914 |  |  | (139 | ) |  | (29,775 | ) |  | 34,534 |
Net loss attributable to noncontrolling interests | — |  |  | — |  |  | (1,519 | ) |  | — |  |  | (1,519 | )
Net income attributable to WESCO International, Inc. | $ | 34,534 |  |  | $ | 29,914 |  |  | $ | 1,380 |  |  | $ | (29,775 | ) |  | $ | 36,053 |
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | 82,270 |  |  | 82,270 |  |  | 82,270 |  |  | (164,540 | ) |  | 82,270 |
Post retirement benefit plan adjustment | (16 | ) |  | (16 | ) |  | (16 | ) |  | 32 |  |  | (16 | )
Comprehensive income attributable to WESCO International, Inc. | $ | 116,788 |  |  | $ | 112,168 |  |  | $ | 83,634 |  |  | $ | (194,283 | ) |  | $ | 118,307 |
| Condensed Consolidating Statement of Cash Flows
| Three Months Ended
| March 31, 2017
(In thousands of dollars) | WESCO International, Inc. |  | WESCO Distribution, Inc. |  | Non-Guarantor Subsidiaries |  | Consolidating and Eliminating Entries |  | Consolidated
Net cash provided by operating activities | $ | 4,316 |  |  | $ | 24,580 |  |  | $ | 18,744 |  |  | $ | — |  |  | $ | 47,640 |
Investing activities: |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (1,487 | ) |  | (3,003 | ) |  | — |  |  | (4,490 | )
Dividends received from subsidiaries | — |  |  | 16,979 |  |  | — |  |  | (16,979 | ) |  | — |
Other | — |  |  | (14,834 | ) |  | 4,398 |  |  | 10,469 |  |  | 33 |
Net cash provided by (used in) investing activities | — |  |  | 658 |  |  | 1,395 |  |  | (6,510 | ) |  | (4,457 | )
Financing activities: |  |  |  |  |  |  |  |  |
Borrowings | 2,220 |  |  | 167,299 |  |  | 164,118 |  |  | (14,834 | ) |  | 318,803 |
Repayments | — |  |  | (190,665 | ) |  | (180,265 | ) |  | 4,365 |  |  | (366,565 | )
Repurchases of common stock | (6,536 | ) |  | — |  |  | — |  |  | — |  |  | (6,536 | )
Increase in bank overdrafts | — |  |  | 4,062 |  |  | — |  |  | — |  |  | 4,062 |
Dividends paid by subsidiaries | — |  |  | — |  |  | (16,979 | ) |  | 16,979 |  |  | — |
Other | — |  |  | (452 | ) |  | — |  |  | — |  |  | (452 | )
Net cash used in financing activities | (4,316 | ) |  | (19,756 | ) |  | (33,126 | ) |  | 6,510 |  |  | (50,688 | )
Effect of exchange rate changes on cash and cash equivalents | — |  |  | — |  |  | 374 |  |  | — |  |  | 374 |
Net change in cash and cash equivalents | — |  |  | 5,482 |  |  | (12,613 | ) |  | — |  |  | (7,131 | )
Cash and cash equivalents at the beginning of period | — |  |  | 41,552 |  |  | 68,579 |  |  | — |  |  | 110,131 |
Cash and cash equivalents at the end of period | $ | — |  |  | $ | 47,034 |  |  | $ | 55,966 |  |  | $ | — |  |  | $ | 103,000 |
| Condensed Consolidating Statement of Cash Flows
| Three Months Ended
| March 31, 2016
(In thousands of dollars) | WESCO International, Inc. |  | WESCO Distribution, Inc. |  | Non-Guarantor Subsidiaries |  | Consolidating and Eliminating Entries |  | Consolidated
Net cash (used in) provided by operating activities | $ | (3,138 | ) |  | $ | 62,678 |  |  | $ | 19,028 |  |  | $ | — |  |  | $ | 78,568 |
Investing activities: |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (3,084 | ) |  | (524 | ) |  | — |  |  | (3,608 | )
Acquisition payments, net of cash acquired | — |  |  | (50,348 | ) |  | — |  |  | — |  |  | (50,348 | )
Dividends received from subsidiaries | — |  |  | 15,310 |  |  | — |  |  | (15,310 | ) |  | — |
Other | — |  |  | (14,548 | ) |  | (3,783 | ) |  | 10,183 |  |  | (8,148 | )
Net cash used in investing activities | — |  |  | (52,670 | ) |  | (4,307 | ) |  | (5,127 | ) |  | (62,104 | )
Financing activities: |  |  |  |  |  |  |  |  |
Borrowings | 3,603 |  |  | 284,972 |  |  | 69,969 |  |  | (14,548 | ) |  | 343,996 |
Repayments | — |  |  | (309,337 | ) |  | (84,893 | ) |  | 4,365 |  |  | (389,865 | )
Increase in bank overdrafts | — |  |  | 11,972 |  |  | — |  |  | — |  |  | 11,972 |
Dividends paid by subsidiaries | — |  |  | — |  |  | (15,310 | ) |  | 15,310 |  |  | — |
Other | (465 | ) |  | (412 | ) |  | — |  |  | — |  |  | (877 | )
Net cash provided by (used in) financing activities | 3,138 |  |  | (12,805 | ) |  | (30,234 | ) |  | 5,127 |  |  | (34,774 | )
Effect of exchange rate changes on cash and cash equivalents | — |  |  | — |  |  | 5,865 |  |  | — |  |  | 5,865 |
Net change in cash and cash equivalents | — |  |  | (2,797 | ) |  | (9,648 | ) |  | — |  |  | (12,445 | )
Cash and cash equivalents at the beginning of period | — |  |  | 38,963 |  |  | 121,316 |  |  | — |  |  | 160,279 |
Cash and cash equivalents at the end of period | $ | — |  |  | $ | 36,166 |  |  | $ | 111,668 |  |  | $ | — |  |  | $ | 147,834 |

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