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OTHER FINANCIAL INFORMATION | 9 Months Ended
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Sep. 30, 2019
Condensed Financial Information [Abstract] |
OTHER FINANCIAL INFORMATION | 14. 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
| September 30, 2019
(In thousands) | WESCO International, Inc. |  | WESCO Distribution, Inc. |  | Non-Guarantor Subsidiaries |  | Consolidating and Eliminating Entries |  | Consolidated
Cash and cash equivalents | $ | — |  |  | $ | 37,889 |  |  | $ | 100,271 |  |  | $ | — |  |  | $ | 138,160 |
Trade accounts receivable, net | — |  |  | — |  |  | 1,315,026 |  |  | — |  |  | 1,315,026 |
Inventories | — |  |  | 437,470 |  |  | 524,527 |  |  | — |  |  | 961,997 |
Prepaid expenses and other current assets | 1,123 |  |  | 27,376 |  |  | 136,719 |  |  | (1,921 | ) |  | 163,297 |
Total current assets | 1,123 |  |  | 502,735 |  |  | 2,076,543 |  |  | (1,921 | ) |  | 2,578,480 |
Intercompany receivables, net | — |  |  | — |  |  | 2,543,978 |  |  | (2,543,978 | ) |  | — |
Property, buildings and equipment, net | — |  |  | 76,980 |  |  | 97,479 |  |  | — |  |  | 174,459 |
Operating lease assets | — |  |  | 146,247 |  |  | 91,005 |  |  | — |  |  | 237,252 |
Intangible assets, net | — |  |  | 1,658 |  |  | 291,835 |  |  | — |  |  | 293,493 |
Goodwill | — |  |  | 257,623 |  |  | 1,488,448 |  |  | — |  |  | 1,746,071 |
Investments in affiliates | 3,383,537 |  |  | 5,318,786 |  |  | — |  |  | (8,702,323 | ) |  | — |
Other assets | — |  |  | 854 |  |  | 16,802 |  |  | — |  |  | 17,656 |
Total assets | $ | 3,384,660 |  |  | $ | 6,304,883 |  |  | $ | 6,606,090 |  |  | $ | (11,248,222 | ) |  | $ | 5,047,411 |
Accounts payable | $ | — |  |  | $ | 418,502 |  |  | $ | 431,082 |  |  | $ | — |  |  | $ | 849,584 |
Short-term debt | — |  |  | — |  |  | 25,561 |  |  | — |  |  | 25,561 |
Other current liabilities | — |  |  | 69,505 |  |  | 161,795 |  |  | (1,921 | ) |  | 229,379 |
Total current liabilities | — |  |  | 488,007 |  |  | 618,438 |  |  | (1,921 | ) |  | 1,104,524 |
Intercompany payables, net | 1,191,542 |  |  | 1,352,436 |  |  | — |  |  | (2,543,978 | ) |  | — |
Long-term debt, net | — |  |  | 856,992 |  |  | 489,341 |  |  | — |  |  | 1,346,333 |
Operating lease liabilities | — |  |  | 116,336 |  |  | 65,708 |  |  | — |  |  | 182,044 |
Other noncurrent liabilities | — |  |  | 107,575 |  |  | 120,225 |  |  | — |  |  | 227,800 |
Total WESCO International stockholders' equity | 2,193,118 |  |  | 3,383,537 |  |  | 5,318,786 |  |  | (8,702,323 | ) |  | 2,193,118 |
Noncontrolling interests | — |  |  | — |  |  | (6,408 | ) |  | — |  |  | (6,408 | )
Total liabilities and stockholders’ equity | $ | 3,384,660 |  |  | $ | 6,304,883 |  |  | $ | 6,606,090 |  |  | $ | (11,248,222 | ) |  | $ | 5,047,411 |
| Condensed Consolidating Balance Sheet
| December 31, 2018
(In thousands) | WESCO International, Inc. |  | WESCO Distribution, Inc. |  | Non-Guarantor Subsidiaries |  | Consolidating and Eliminating Entries |  | Consolidated
Cash and cash equivalents | $ | — |  |  | $ | 35,931 |  |  | $ | 60,412 |  |  | $ | — |  |  | $ | 96,343 |
Trade accounts receivable, net | — |  |  | — |  |  | 1,166,607 |  |  | — |  |  | 1,166,607 |
Inventories | — |  |  | 440,422 |  |  | 508,304 |  |  | — |  |  | 948,726 |
Prepaid expenses and other current assets | 1,123 |  |  | 57,586 |  |  | 124,523 |  |  | (9,268 | ) |  | 173,964 |
Total current assets | 1,123 |  |  | 533,939 |  |  | 1,859,846 |  |  | (9,268 | ) |  | 2,385,640 |
Intercompany receivables, net | — |  |  | — |  |  | 2,403,704 |  |  | (2,403,704 | ) |  | — |
Property, buildings and equipment, net | — |  |  | 63,506 |  |  | 97,372 |  |  | — |  |  | 160,878 |
Intangible assets, net | — |  |  | 2,131 |  |  | 313,885 |  |  | — |  |  | 316,016 |
Goodwill | — |  |  | 257,623 |  |  | 1,464,980 |  |  | — |  |  | 1,722,603 |
Investments in affiliates | 3,182,469 |  |  | 5,137,783 |  |  | — |  |  | (8,320,252 | ) |  | — |
Other assets | — |  |  | 2,905 |  |  | 16,994 |  |  | — |  |  | 19,899 |
Total assets | $ | 3,183,592 |  |  | $ | 5,997,887 |  |  | $ | 6,156,781 |  |  | $ | (10,733,224 | ) |  | $ | 4,605,036 |
Accounts payable | $ | — |  |  | $ | 404,373 |  |  | $ | 389,975 |  |  | $ | — |  |  | $ | 794,348 |
Short-term debt | — |  |  | — |  |  | 30,785 |  |  | — |  |  | 30,785 |
Other current liabilities | — |  |  | 86,600 |  |  | 159,481 |  |  | (9,268 | ) |  | 236,813 |
Total current liabilities | — |  |  | 490,973 |  |  | 580,241 |  |  | (9,268 | ) |  | 1,061,946 |
Intercompany payables, net | 1,048,282 |  |  | 1,355,422 |  |  | — |  |  | (2,403,704 | ) |  | — |
Long-term debt, net | — |  |  | 842,093 |  |  | 325,218 |  |  | — |  |  | 1,167,311 |
Other noncurrent liabilities | — |  |  | 126,930 |  |  | 119,123 |  |  | — |  |  | 246,053 |
Total WESCO International stockholders' equity | 2,135,310 |  |  | 3,182,469 |  |  | 5,137,783 |  |  | (8,320,252 | ) |  | 2,135,310 |
Noncontrolling interests | — |  |  | — |  |  | (5,584 | ) |  | — |  |  | (5,584 | )
Total liabilities and stockholders’ equity | $ | 3,183,592 |  |  | $ | 5,997,887 |  |  | $ | 6,156,781 |  |  | $ | (10,733,224 | ) |  | $ | 4,605,036 |
| Condensed Consolidating Statement of Income and Comprehensive Income
| Three Months Ended
| September 30, 2019
(In thousands) | WESCO International, Inc. |  | WESCO Distribution, Inc. |  | Non-Guarantor Subsidiaries |  | Consolidating and Eliminating Entries |  | Consolidated
Net sales | $ | — |  |  | $ | 939,909 |  |  | $ | 1,244,847 |  |  | $ | (36,646 | ) |  | $ | 2,148,110 |
Cost of goods sold (excluding depreciation and |  |  |  |  |  |  |  |  |
amortization) | — |  |  | 768,200 |  |  | 1,016,359 |  |  | (36,646 | ) |  | 1,747,913 |
Selling, general and administrative expenses | — |  |  | 146,925 |  |  | 143,927 |  |  | — |  |  | 290,852 |
Depreciation and amortization | — |  |  | 4,834 |  |  | 10,778 |  |  | — |  |  | 15,612 |
Results of affiliates’ operations | 64,339 |  |  | 58,725 |  |  | — |  |  | (123,064 | ) |  | — |
Net interest and other | — |  |  | 12,944 |  |  | 564 |  |  | — |  |  | 13,508 |
Income tax expense | — |  |  | 1,392 |  |  | 14,494 |  |  | — |  |  | 15,886 |
Net income | 64,339 |  |  | 64,339 |  |  | 58,725 |  |  | (123,064 | ) |  | 64,339 |
Net loss attributable to noncontrolling interests | — |  |  | — |  |  | (156 | ) |  | — |  |  | (156 | )
Net income attributable to WESCO International | $ | 64,339 |  |  | $ | 64,339 |  |  | $ | 58,881 |  |  | $ | (123,064 | ) |  | $ | 64,495 |
Other comprehensive income: |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | (16,856 | ) |  | (16,856 | ) |  | (16,856 | ) |  | 33,712 |  |  | (16,856 | )
Comprehensive income attributable to WESCO International | $ | 47,483 |  |  | $ | 47,483 |  |  | $ | 42,025 |  |  | $ | (89,352 | ) |  | $ | 47,639 |
| Condensed Consolidating Statement of Income and Comprehensive Income
| Nine Months Ended
| September 30, 2019
(In thousands) | WESCO International, Inc. |  | WESCO Distribution, Inc. |  | Non-Guarantor Subsidiaries |  | Consolidating and Eliminating Entries |  | Consolidated
Net sales | $ | — |  |  | $ | 2,736,224 |  |  | $ | 3,643,193 |  |  | $ | (119,952 | ) |  | $ | 6,259,465 |
Cost of goods sold (excluding depreciation and |  |  |  |  |  |  |  |  |
amortization) | — |  |  | 2,220,792 |  |  | 2,966,959 |  |  | (119,952 | ) |  | 5,067,799 |
Selling, general and administrative expenses | — |  |  | 445,487 |  |  | 437,735 |  |  | — |  |  | 883,222 |
Depreciation and amortization | — |  |  | 13,861 |  |  | 32,174 |  |  | — |  |  | 46,035 |
Results of affiliates’ operations | 169,505 |  |  | 155,100 |  |  | — |  |  | (324,605 | ) |  | — |
Net interest and other | — |  |  | 37,856 |  |  | 10,078 |  |  | — |  |  | 47,934 |
Income tax expense | — |  |  | 3,823 |  |  | 41,147 |  |  | — |  |  | 44,970 |
Net income | 169,505 |  |  | 169,505 |  |  | 155,100 |  |  | (324,605 | ) |  | 169,505 |
Net loss attributable to noncontrolling interests | — |  |  | — |  |  | (824 | ) |  | — |  |  | (824 | )
Net income attributable to WESCO International | $ | 169,505 |  |  | $ | 169,505 |  |  | $ | 155,924 |  |  | $ | (324,605 | ) |  | $ | 170,329 |
Other comprehensive income: |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | 25,905 |  |  | 25,905 |  |  | 25,905 |  |  | (51,810 | ) |  | 25,905 |
Comprehensive income attributable to WESCO International | $ | 195,410 |  |  | $ | 195,410 |  |  | $ | 181,829 |  |  | $ | (376,415 | ) |  | $ | 196,234 |
| Condensed Consolidating Statement of Income and Comprehensive Income
| Three Months Ended
| September 30, 2018
(In thousands) | WESCO International, Inc. |  | WESCO Distribution, Inc. |  | Non-Guarantor Subsidiaries |  | Consolidating and Eliminating Entries |  | Consolidated
Net sales | $ | — |  |  | $ | 899,994 |  |  | $ | 1,206,174 |  |  | $ | (38,923 | ) |  | $ | 2,067,245 |
Cost of goods sold (excluding depreciation and |  |  |  |  |  |  |  |  |
amortization) | — |  |  | 727,052 |  |  | 981,908 |  |  | (38,923 | ) |  | 1,670,037 |
Selling, general and administrative expenses | — |  |  | 149,390 |  |  | 134,683 |  |  | — |  |  | 284,073 |
Depreciation and amortization | — |  |  | 4,475 |  |  | 11,143 |  |  | — |  |  | 15,618 |
Results of affiliates’ operations | 66,645 |  |  | 61,771 |  |  | — |  |  | (128,416 | ) |  | — |
Net interest and other | — |  |  | 13,127 |  |  | 3,923 |  |  | — |  |  | 17,050 |
Income tax expense | — |  |  | 1,076 |  |  | 12,746 |  |  | — |  |  | 13,822 |
Net income | 66,645 |  |  | 66,645 |  |  | 61,771 |  |  | (128,416 | ) |  | 66,645 |
Net loss attributable to noncontrolling interests | — |  |  | — |  |  | (204 | ) |  | — |  |  | (204 | )
Net income attributable to WESCO International | $ | 66,645 |  |  | $ | 66,645 |  |  | $ | 61,975 |  |  | $ | (128,416 | ) |  | $ | 66,849 |
Other comprehensive income: |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | 20,486 |  |  | 20,486 |  |  | 20,486 |  |  | (40,972 | ) |  | 20,486 |
Comprehensive income attributable to WESCO International | $ | 87,131 |  |  | $ | 87,131 |  |  | $ | 82,461 |  |  | $ | (169,388 | ) |  | $ | 87,335 |
| Condensed Consolidating Statement of Income and Comprehensive Income
| Nine Months Ended
| September 30, 2018
(In thousands) | WESCO International, Inc. |  | WESCO Distribution, Inc. |  | Non-Guarantor Subsidiaries |  | Consolidating and Eliminating Entries |  | Consolidated
Net sales | $ | — |  |  | $ | 2,703,468 |  |  | $ | 3,578,653 |  |  | $ | (116,967 | ) |  | $ | 6,165,154 |
Cost of goods sold (excluding depreciation and |  |  |  |  |  |  |  |  |
amortization) | — |  |  | 2,189,683 |  |  | 2,915,387 |  |  | (116,967 | ) |  | 4,988,103 |
Selling, general and administrative expenses | — |  |  | 447,437 |  |  | 420,353 |  |  | — |  |  | 867,790 |
Depreciation and amortization | — |  |  | 13,749 |  |  | 33,572 |  |  | — |  |  | 47,321 |
Results of affiliates’ operations | 167,289 |  |  | 158,093 |  |  | — |  |  | (325,382 | ) |  | — |
Net interest and other | — |  |  | 41,202 |  |  | 13,372 |  |  | — |  |  | 54,574 |
Income tax expense | — |  |  | 2,201 |  |  | 37,876 |  |  | — |  |  | 40,077 |
Net income | 167,289 |  |  | 167,289 |  |  | 158,093 |  |  | (325,382 | ) |  | 167,289 |
Net loss attributable to noncontrolling interests | — |  |  | — |  |  | (1,921 | ) |  | — |  |  | (1,921 | )
Net income attributable to WESCO International | $ | 167,289 |  |  | $ | 167,289 |  |  | $ | 160,014 |  |  | $ | (325,382 | ) |  | $ | 169,210 |
Other comprehensive loss: |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | (37,029 | ) |  | (37,029 | ) |  | (37,029 | ) |  | 74,058 |  |  | (37,029 | )
Comprehensive income attributable to WESCO International | $ | 130,260 |  |  | $ | 130,260 |  |  | $ | 122,985 |  |  | $ | (251,324 | ) |  | $ | 132,181 |
| Condensed Consolidating Statement of Cash Flows
| Nine Months Ended
| September 30, 2019
(In thousands) | WESCO International, Inc. |  | WESCO Distribution, Inc. |  | Non-Guarantor Subsidiaries |  | Consolidating and Eliminating Entries |  | Consolidated
Net cash provided by (used in) operating activities | $ | 9,480 |  |  | $ | 210,707 |  |  | $ | (103,523 | ) |  | $ | — |  |  | $ | 116,664 |
Investing activities: |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (13,269 | ) |  | (17,054 | ) |  | — |  |  | (30,323 | )
Acquisition payments | — |  |  | (27,742 | ) |  | — |  |  | — |  |  | (27,742 | )
Dividends received from subsidiaries | — |  |  | 67,065 |  |  | — |  |  | (67,065 | ) |  | — |
Other | — |  |  | (210,320 | ) |  | 4,575 |  |  | 210,320 |  |  | 4,575 |
Net cash used in investing activities | — |  |  | (184,266 | ) |  | (12,479 | ) |  | 143,255 |  |  | (53,490 | )
Financing activities: |  |  |  |  |  |  |  |  |
Borrowings | 143,255 |  |  | 333,418 |  |  | 856,464 |  |  | (210,320 | ) |  | 1,122,817 |
Repayments | — |  |  | (344,167 | ) |  | (630,263 | ) |  | — |  |  | (974,430 | )
Repurchases of common stock | (152,735 | ) |  | — |  |  | — |  |  | — |  |  | (152,735 | )
Dividends paid by subsidiaries | — |  |  | — |  |  | (67,065 | ) |  | 67,065 |  |  | — |
Other | — |  |  | (13,734 | ) |  | — |  |  | — |  |  | (13,734 | )
Net cash (used in) provided by financing activities | (9,480 | ) |  | (24,483 | ) |  | 159,136 |  |  | (143,255 | ) |  | (18,082 | )
Effect of exchange rate changes on cash and cash equivalents | — |  |  | — |  |  | (3,275 | ) |  | — |  |  | (3,275 | )
Net change in cash and cash equivalents | — |  |  | 1,958 |  |  | 39,859 |  |  | — |  |  | 41,817 |
Cash and cash equivalents at the beginning of period | — |  |  | 35,931 |  |  | 60,412 |  |  | — |  |  | 96,343 |
Cash and cash equivalents at the end of period | $ | — |  |  | $ | 37,889 |  |  | $ | 100,271 |  |  | $ | — |  |  | $ | 138,160 |
| Condensed Consolidating Statement of Cash Flows
| Nine Months Ended
| September 30, 2018
(In thousands) | WESCO International, Inc. |  | WESCO Distribution, Inc. |  | Non-Guarantor Subsidiaries |  | Consolidating and Eliminating Entries |  | Consolidated
Net cash provided by operating activities | $ | 14,198 |  |  | $ | 62,439 |  |  | $ | 97,823 |  |  | $ | — |  |  | $ | 174,460 |
Investing activities: |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (12,831 | ) |  | (10,918 | ) |  | — |  |  | (23,749 | )
Dividends received from subsidiaries | — |  |  | 118,271 |  |  | — |  |  | (118,271 | ) |  | — |
Other | — |  |  | (81,128 | ) |  | 3,609 |  |  | 81,128 |  |  | 3,609 |
Net cash provided by (used in) investing activities | — |  |  | 24,312 |  |  | (7,309 | ) |  | (37,143 | ) |  | (20,140 | )
Financing activities: |  |  |  |  |  |  |  |  |
Borrowings | 12,857 |  |  | 246,323 |  |  | 933,046 |  |  | (81,128 | ) |  | 1,111,098 |
Repayments | — |  |  | (318,323 | ) |  | (882,239 | ) |  | — |  |  | (1,200,562 | )
Repurchases of common stock | (27,055 | ) |  | — |  |  | — |  |  | — |  |  | (27,055 | )
Dividends paid by subsidiaries | — |  |  | — |  |  | (118,271 | ) |  | 118,271 |  |  | — |
Other | — |  |  | (8,301 | ) |  | — |  |  | — |  |  | (8,301 | )
Net cash used in financing activities | (14,198 | ) |  | (80,301 | ) |  | (67,464 | ) |  | 37,143 |  |  | (124,820 | )
Effect of exchange rate changes on cash and cash equivalents | — |  |  | — |  |  | (4,693 | ) |  | — |  |  | (4,693 | )
Net change in cash and cash equivalents | — |  |  | 6,450 |  |  | 18,357 |  |  | — |  |  | 24,807 |
Cash and cash equivalents at the beginning of period | — |  |  | 50,602 |  |  | 67,351 |  |  | — |  |  | 117,953 |
Cash and cash equivalents at the end of period | $ | — |  |  | $ | 57,052 |  |  | $ | 85,708 |  |  | $ | — |  |  | $ | 142,760 |

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