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OTHER FINANCIAL INFORMATION | 3 Months Ended
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Mar. 31, 2018
Condensed Financial Information [Abstract] |
OTHER FINANCIAL INFORMATION | 12. CONDENSED CONSOLIDATING FINANCIAL INFORMATION WESCO Distribution has outstanding $500 million in aggregate principal amount of 5.375% Senior Notes due 2021 (the "2021 Notes") and $350 million in aggregate principal amount of 5.375% Senior Notes due 2024 (the "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, WESCO Distribution and the non-guarantor subsidiaries is presented in the following tables.
| Condensed Consolidating Balance Sheet
| March 31, 2018
(In thousands) | WESCO International, Inc. |  | WESCO Distribution, Inc. |  | Non-Guarantor Subsidiaries |  | Consolidating and Eliminating Entries |  | Consolidated
Cash and cash equivalents | $ | — |  |  | $ | 66,313 |  |  | $ | 57,584 |  |  | $ | — |  |  | $ | 123,897 |
Trade accounts receivable, net | — |  |  | — |  |  | 1,205,046 |  |  | — |  |  | 1,205,046 |
Inventories | — |  |  | 424,167 |  |  | 525,344 |  |  | — |  |  | 949,511 |
Prepaid expenses and other current assets | 4,943 |  |  | 23,444 |  |  | 131,937 |  |  | (20,107 | ) |  | 140,217 |
Total current assets | 4,943 |  |  | 513,924 |  |  | 1,919,911 |  |  | (20,107 | ) |  | 2,418,671 |
Intercompany receivables, net | — |  |  | — |  |  | 2,230,504 |  |  | (2,230,504 | ) |  | — |
Property, buildings and equipment, net | — |  |  | 52,249 |  |  | 104,115 |  |  | — |  |  | 156,364 |
Intangible assets, net | — |  |  | 2,611 |  |  | 350,687 |  |  | — |  |  | 353,298 |
Goodwill | — |  |  | 257,623 |  |  | 1,498,056 |  |  | — |  |  | 1,755,679 |
Investments in affiliates | 3,072,786 |  |  | 5,040,227 |  |  | — |  |  | (8,113,013 | ) |  | — |
Other assets | — |  |  | 2,780 |  |  | 26,521 |  |  | — |  |  | 29,301 |
Total assets | $ | 3,077,729 |  |  | $ | 5,869,414 |  |  | $ | 6,129,794 |  |  | $ | (10,363,624 | ) |  | $ | 4,713,313 |
Accounts payable | $ | — |  |  | $ | 422,681 |  |  | $ | 382,699 |  |  | $ | — |  |  | $ | 805,380 |
Short-term debt | — |  |  | — |  |  | 41,692 |  |  | — |  |  | 41,692 |
Other current liabilities | — |  |  | 53,780 |  |  | 140,856 |  |  | (20,107 | ) |  | 174,529 |
Total current liabilities | — |  |  | 476,461 |  |  | 565,247 |  |  | (20,107 | ) |  | 1,021,601 |
Intercompany payables, net | 935,949 |  |  | 1,294,555 |  |  | — |  |  | (2,230,504 | ) |  | — |
Long-term debt, net | — |  |  | 902,701 |  |  | 389,393 |  |  | — |  |  | 1,292,094 |
Other noncurrent liabilities | 3,820 |  |  | 122,911 |  |  | 139,973 |  |  | — |  |  | 266,704 |
Total WESCO International, Inc. stockholders' equity | 2,137,960 |  |  | 3,072,786 |  |  | 5,040,227 |  |  | (8,113,013 | ) |  | 2,137,960 |
Noncontrolling interests | — |  |  | — |  |  | (5,046 | ) |  | — |  |  | (5,046 | )
Total liabilities and stockholders’ equity | $ | 3,077,729 |  |  | $ | 5,869,414 |  |  | $ | 6,129,794 |  |  | $ | (10,363,624 | ) |  | $ | 4,713,313 |
| Condensed Consolidating Balance Sheet
| December 31, 2017
(In thousands) | WESCO International, Inc. |  | WESCO Distribution, Inc. |  | Non-Guarantor Subsidiaries |  | Consolidating and Eliminating Entries |  | Consolidated
Cash and cash equivalents | $ | — |  |  | $ | 50,602 |  |  | $ | 67,351 |  |  | $ | — |  |  | $ | 117,953 |
Trade accounts receivable, net | — |  |  | — |  |  | 1,170,080 |  |  | — |  |  | 1,170,080 |
Inventories | — |  |  | 430,092 |  |  | 526,056 |  |  | — |  |  | 956,148 |
Prepaid expenses and other current assets | 4,730 |  |  | 42,547 |  |  | 152,531 |  |  | (35,140 | ) |  | 164,668 |
Total current assets | 4,730 |  |  | 523,241 |  |  | 1,916,018 |  |  | (35,140 | ) |  | 2,408,849 |
Intercompany receivables, net | — |  |  | — |  |  | 2,189,136 |  |  | (2,189,136 | ) |  | — |
Property, buildings and equipment, net | — |  |  | 50,198 |  |  | 106,247 |  |  | — |  |  | 156,445 |
Intangible assets, net | — |  |  | 2,770 |  |  | 364,334 |  |  | — |  |  | 367,104 |
Goodwill | — |  |  | 257,623 |  |  | 1,514,254 |  |  | — |  |  | 1,771,877 |
Investments in affiliates | 3,058,613 |  |  | 5,023,826 |  |  | — |  |  | (8,082,439 | ) |  | — |
Other assets | — |  |  | 2,778 |  |  | 28,415 |  |  | — |  |  | 31,193 |
Total assets | $ | 3,063,343 |  |  | $ | 5,860,436 |  |  | $ | 6,118,404 |  |  | $ | (10,306,715 | ) |  | $ | 4,735,468 |
Accounts payable | $ | — |  |  | $ | 417,690 |  |  | $ | 381,830 |  |  | $ | — |  |  | $ | 799,520 |
Short-term debt | — |  |  | — |  |  | 34,075 |  |  | — |  |  | 34,075 |
Other current liabilities | — |  |  | 80,039 |  |  | 162,475 |  |  | (35,140 | ) |  | 207,374 |
Total current liabilities | — |  |  | 497,729 |  |  | 578,380 |  |  | (35,140 | ) |  | 1,040,969 |
Intercompany payables, net | 939,784 |  |  | 1,249,352 |  |  | — |  |  | (2,189,136 | ) |  | — |
Long-term debt, net | — |  |  | 934,033 |  |  | 379,228 |  |  | — |  |  | 1,313,261 |
Other noncurrent liabilities | 3,820 |  |  | 120,709 |  |  | 140,566 |  |  | — |  |  | 265,095 |
Total WESCO International, Inc. stockholders' equity | 2,119,739 |  |  | 3,058,613 |  |  | 5,023,826 |  |  | (8,082,439 | ) |  | 2,119,739 |
Noncontrolling interests | — |  |  | — |  |  | (3,596 | ) |  | — |  |  | (3,596 | )
Total liabilities and stockholders’ equity | $ | 3,063,343 |  |  | $ | 5,860,436 |  |  | $ | 6,118,404 |  |  | $ | (10,306,715 | ) |  | $ | 4,735,468 |
| Condensed Consolidating Statement of Income and Comprehensive Income
| Three Months Ended
| March 31, 2018
(In thousands) | WESCO International, Inc. |  | WESCO Distribution, Inc. |  | Non-Guarantor Subsidiaries |  | Consolidating and Eliminating Entries |  | Consolidated
Net sales | $ | — |  |  | $ | 882,399 |  |  | $ | 1,150,110 |  |  | $ | (38,594 | ) |  | $ | 1,993,915 |
Cost of goods sold (excluding depreciation and |  |  |  |  |  |  |  |  |
amortization) | — |  |  | 716,258 |  |  | 936,302 |  |  | (38,594 | ) |  | 1,613,966 |
Selling, general and administrative expenses | — |  |  | 150,482 |  |  | 140,347 |  |  | — |  |  | 290,829 |
Depreciation and amortization | — |  |  | 4,616 |  |  | 11,263 |  |  | — |  |  | 15,879 |
Results of affiliates’ operations | 42,971 |  |  | 45,200 |  |  | — |  |  | (88,171 | ) |  | — |
Net interest and other | — |  |  | 13,816 |  |  | 5,967 |  |  | — |  |  | 19,783 |
Income tax (benefit) expense | — |  |  | (544 | ) |  | 11,031 |  |  | — |  |  | 10,487 |
Net income | 42,971 |  |  | 42,971 |  |  | 45,200 |  |  | (88,171 | ) |  | 42,971 |
Net loss attributable to noncontrolling interests | — |  |  | — |  |  | (1,450 | ) |  | — |  |  | (1,450 | )
Net income attributable to WESCO International, Inc. | $ | 42,971 |  |  | $ | 42,971 |  |  | $ | 46,650 |  |  | $ | (88,171 | ) |  | $ | 44,421 |
Other comprehensive loss: |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | (28,800 | ) |  | (28,800 | ) |  | (28,800 | ) |  | 57,600 |  |  | (28,800 | )
Comprehensive income attributable to WESCO International, Inc. | $ | 14,171 |  |  | $ | 14,171 |  |  | $ | 17,850 |  |  | $ | (30,571 | ) |  | $ | 15,621 |
| Condensed Consolidating Statement of Income and Comprehensive Income
| Three Months Ended
| March 31, 2017
(In thousands) | 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 |  |  | 132,162 |  |  | — |  |  | 267,419 |
Depreciation and amortization | — |  |  | 4,753 |  |  | 11,212 |  |  | — |  |  | 15,965 |
Results of affiliates’ operations | 37,800 |  |  | 34,428 |  |  | — |  |  | (72,228 | ) |  | — |
Net interest and other | — |  |  | 21,008 |  |  | (4,742 | ) |  | — |  |  | 16,266 |
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 adjustments, net of tax | 252 |  |  | 252 |  |  | 252 |  |  | (504 | ) |  | 252 |
Comprehensive income attributable to WESCO International, Inc. | $ | 49,620 |  |  | $ | 43,130 |  |  | $ | 52,667 |  |  | $ | (95,868 | ) |  | $ | 49,549 |
Reclassification As described in Note 8, the Company reclassified a net benefit of $0.5 million from selling, general and administrative expenses to net interest and other in the previously reported Condensed Consolidated Statement of Income and Comprehensive Income for the three months ended March 31, 2017.
| Condensed Consolidating Statement of Cash Flows
| Three Months Ended
| March 31, 2018
(In thousands) | WESCO International, Inc. |  | WESCO Distribution, Inc. |  | Non-Guarantor Subsidiaries |  | Consolidating and Eliminating Entries |  | Consolidated
Net cash provided by (used in) operating activities | $ | 5,497 |  |  | $ | 57,694 |  |  | $ | (10,198 | ) |  | $ | — |  |  | $ | 52,993 |
Investing activities: |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (2,954 | ) |  | (4,708 | ) |  | — |  |  | (7,662 | )
Dividends received from subsidiaries | — |  |  | 22,744 |  |  | — |  |  | (22,744 | ) |  | — |
Other | — |  |  | (18,908 | ) |  | (8,760 | ) |  | 18,908 |  |  | (8,760 | )
Net cash provided by (used in) investing activities | — |  |  | 882 |  |  | (13,468 | ) |  | (3,836 | ) |  | (16,422 | )
Financing activities: |  |  |  |  |  |  |  |  |
Borrowings | — |  |  | 58,000 |  |  | 515,663 |  |  | (22,744 | ) |  | 550,919 |
Repayments | (3,836 | ) |  | (90,000 | ) |  | (477,220 | ) |  | 3,836 |  |  | (567,220 | )
Repurchases of common stock | (1,661 | ) |  | — |  |  | — |  |  | — |  |  | (1,661 | )
Decrease in bank overdrafts | — |  |  | (10,575 | ) |  | — |  |  | — |  |  | (10,575 | )
Dividends paid by subsidiaries | — |  |  | — |  |  | (22,744 | ) |  | 22,744 |  |  | — |
Other | — |  |  | (290 | ) |  | — |  |  | — |  |  | (290 | )
Net cash (used in) provided by financing activities | (5,497 | ) |  | (42,865 | ) |  | 15,699 |  |  | 3,836 |  |  | (28,827 | )
Effect of exchange rate changes on cash and cash equivalents | — |  |  | — |  |  | (1,800 | ) |  | — |  |  | (1,800 | )
Net change in cash and cash equivalents | — |  |  | 15,711 |  |  | (9,767 | ) |  | — |  |  | 5,944 |
Cash and cash equivalents at the beginning of period | — |  |  | 50,602 |  |  | 67,351 |  |  | — |  |  | 117,953 |
Cash and cash equivalents at the end of period | $ | — |  |  | $ | 66,313 |  |  | $ | 57,584 |  |  | $ | — |  |  | $ | 123,897 |
| Condensed Consolidating Statement of Cash Flows
| Three Months Ended
| March 31, 2017
(In thousands) | 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 |

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