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OTHER FINANCIAL INFORMATION | 12 Months Ended
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Dec. 31, 2019
Condensed Financial Information [Abstract] |
OTHER FINANCIAL INFORMATION | 18. 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, WESCO Distribution and the non-guarantor subsidiaries is presented in the following tables.
| Condensed Consolidating Balance Sheet
| December 31, 2019
| (In thousands)
| WESCO International, Inc. |  | WESCO Distribution, Inc. |  | Non-Guarantor Subsidiaries |  | Consolidating and Eliminating Entries |  | Consolidated
Cash and cash equivalents | $ | — |  |  | $ | 46,499 |  |  | $ | 104,403 |  |  | $ | — |  |  | $ | 150,902 |
Trade accounts receivable, net | — |  |  | — |  |  | 1,187,359 |  |  | — |  |  | 1,187,359 |
Inventories | — |  |  | 490,071 |  |  | 521,603 |  |  | — |  |  | 1,011,674 |
Prepaid expenses and other current assets | 1,124 |  |  | 44,382 |  |  | 144,084 |  |  | 886 |  |  | 190,476 |
Total current assets | 1,124 |  |  | 580,952 |  |  | 1,957,449 |  |  | 886 |  |  | 2,540,411 |
Intercompany receivables, net | — |  |  | — |  |  | 2,668,314 |  |  | (2,668,314 | ) |  | — |
Property, buildings and equipment, net | — |  |  | 82,753 |  |  | 98,695 |  |  | — |  |  | 181,448 |
Operating lease assets | — |  |  | 141,824 |  |  | 94,010 |  |  | — |  |  | 235,834 |
Intangible assets, net | — |  |  | 1,500 |  |  | 285,775 |  |  | — |  |  | 287,275 |
Goodwill | — |  |  | 257,623 |  |  | 1,501,417 |  |  | — |  |  | 1,759,040 |
Investments in affiliates | 3,451,020 |  |  | 5,379,728 |  |  | — |  |  | (8,830,748 | ) |  | — |
Other assets | — |  |  | 854 |  |  | 12,773 |  |  | — |  |  | 13,627 |
Total assets | $ | 3,452,144 |  |  | $ | 6,445,234 |  |  | $ | 6,618,433 |  |  | $ | (11,498,176 | ) |  | $ | 5,017,635 |
Accounts payable | $ | — |  |  | $ | 402,174 |  |  | $ | 428,304 |  |  | $ | — |  |  | $ | 830,478 |
Short-term debt | — |  |  | — |  |  | 26,255 |  |  | — |  |  | 26,255 |
Other current liabilities | — |  |  | 42,901 |  |  | 183,539 |  |  | 886 |  |  | 227,326 |
Total current liabilities | — |  |  | 445,075 |  |  | 638,098 |  |  | 886 |  |  | 1,084,059 |
Intercompany payables, net | 1,186,661 |  |  | 1,481,653 |  |  | — |  |  | (2,668,314 | ) |  | — |
Long-term debt | — |  |  | 842,708 |  |  | 414,359 |  |  | — |  |  | 1,257,067 |
Operating lease liabilities | — |  |  | 111,291 |  |  | 68,539 |  |  | — |  |  | 179,830 |
Other noncurrent liabilities | — |  |  | 113,487 |  |  | 124,521 |  |  | — |  |  | 238,008 |
Total WESCO International stockholders’ equity | 2,265,483 |  |  | 3,451,020 |  |  | 5,379,728 |  |  | (8,830,748 | ) |  | 2,265,483 |
Noncontrolling interests | — |  |  | — |  |  | (6,812 | ) |  | — |  |  | (6,812 | )
Total liabilities and stockholders’ equity | $ | 3,452,144 |  |  | $ | 6,445,234 |  |  | $ | 6,618,433 |  |  | $ | (11,498,176 | ) |  | $ | 5,017,635 |
| 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 | 3,188,124 |  |  | 5,137,783 |  |  | — |  |  | (8,325,907 | ) |  | — |
Other assets | — |  |  | 2,905 |  |  | 16,994 |  |  | — |  |  | 19,899 |
Total assets | $ | 3,189,247 |  |  | $ | 5,997,887 |  |  | $ | 6,156,781 |  |  | $ | (10,738,879 | ) |  | $ | 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 | 1,053,937 |  |  | 1,349,767 |  |  | — |  |  | (2,403,704 | ) |  | — |
Long-term debt | — |  |  | 842,093 |  |  | 325,218 |  |  | — |  |  | 1,167,311 |
Other noncurrent liabilities | — |  |  | 126,930 |  |  | 119,123 |  |  | — |  |  | 246,053 |
Total WESCO International stockholders’ equity | 2,135,310 |  |  | 3,188,124 |  |  | 5,137,783 |  |  | (8,325,907 | ) |  | 2,135,310 |
Noncontrolling interests | — |  |  | — |  |  | (5,584 | ) |  | — |  |  | (5,584 | )
Total liabilities and stockholders’ equity | $ | 3,189,247 |  |  | $ | 5,997,887 |  |  | $ | 6,156,781 |  |  | $ | (10,738,879 | ) |  | $ | 4,605,036 |
Reclassification Certain reclassifications have been made to conform the presentation of previously reported amounts to that of the current period.
| Condensed Consolidating Statement of Income and Comprehensive Income
| Year ended December 31, 2019
| (In thousands)
| WESCO International, Inc. |  | WESCO Distribution, Inc. |  | Non-Guarantor Subsidiaries |  | Consolidating and Eliminating Entries |  | Consolidated
Net sales | $ | — |  |  | $ | 3,642,413 |  |  | $ | 4,899,987 |  |  | $ | (183,483 | ) |  | $ | 8,358,917 |
Cost of goods sold (excluding depreciation and | — |  |  | 2,954,246 |  |  | 4,006,693 |  |  | (183,483 | ) |  | 6,777,456 |
amortization) |  |  |  |  |  |  |  |  |
Selling, general and administrative expenses | — |  |  | 593,025 |  |  | 580,112 |  |  | — |  |  | 1,173,137 |
Depreciation and amortization | — |  |  | 19,155 |  |  | 42,952 |  |  | — |  |  | 62,107 |
Results of affiliates’ operations | 222,198 |  |  | 201,247 |  |  | — |  |  | (423,445 | ) |  | — |
Net interest and other | — |  |  | 49,392 |  |  | 14,764 |  |  | — |  |  | 64,156 |
Provision for income taxes | — |  |  | 5,644 |  |  | 54,219 |  |  | — |  |  | 59,863 |
Net income | 222,198 |  |  | 222,198 |  |  | 201,247 |  |  | (423,445 | ) |  | 222,198 |
Less: Net loss attributable to noncontrolling interests | — |  |  | — |  |  | (1,228 | ) |  | — |  |  | (1,228 | )
Net income attributable to WESCO International | $ | 222,198 |  |  | $ | 222,198 |  |  | $ | 202,475 |  |  | $ | (423,445 | ) |  | $ | 223,426 |
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | 49,306 |  |  | 49,306 |  |  | 49,306 |  |  | (98,612 | ) |  | 49,306 |
Post retirement benefit plan adjustments, net of tax | (8,643 | ) |  | (8,643 | ) |  | (8,643 | ) |  | 17,286 |  |  | (8,643 | )
Comprehensive income attributable to WESCO International | $ | 262,861 |  |  | $ | 262,861 |  |  | $ | 243,138 |  |  | $ | (504,771 | ) |  | $ | 264,089 |
| Condensed Consolidating Statement of Income and Comprehensive Income
| Year ended December 31, 2018
| (In thousands)
| WESCO International, Inc. |  | WESCO Distribution, Inc. |  | Non-Guarantor Subsidiaries |  | Consolidating and Eliminating Entries |  | Consolidated
Net sales | $ | — |  |  | $ | 3,572,406 |  |  | $ | 4,757,321 |  |  | $ | (153,126 | ) |  | $ | 8,176,601 |
Cost of goods sold (excluding depreciation and | — |  |  | 2,890,490 |  |  | 3,871,856 |  |  | (153,126 | ) |  | 6,609,220 |
amortization) |  |  |  |  |  |  |  |  |
Selling, general and administrative expenses | — |  |  | 590,009 |  |  | 561,935 |  |  | — |  |  | 1,151,944 |
Depreciation and amortization | — |  |  | 18,334 |  |  | 44,663 |  |  | — |  |  | 62,997 |
Results of affiliates’ operations | 225,355 |  |  | 209,802 |  |  | — |  |  | (435,157 | ) |  | — |
Net interest and other | — |  |  | 54,178 |  |  | 17,237 |  |  | — |  |  | 71,415 |
Provision for income taxes | — |  |  | 3,842 |  |  | 51,828 |  |  | — |  |  | 55,670 |
Net income | 225,355 |  |  | 225,355 |  |  | 209,802 |  |  | (435,157 | ) |  | 225,355 |
Less: Net loss attributable to noncontrolling interests | — |  |  | — |  |  | (1,988 | ) |  | — |  |  | (1,988 | )
Net income attributable to WESCO International | $ | 225,355 |  |  | $ | 225,355 |  |  | $ | 211,790 |  |  | $ | (435,157 | ) |  | $ | 227,343 |
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | (99,643 | ) |  | (99,643 | ) |  | (99,643 | ) |  | 199,286 |  |  | (99,643 | )
Post retirement benefit plan adjustments, net of tax | 3,798 |  |  | 3,798 |  |  | 3,798 |  |  | (7,596 | ) |  | 3,798 |
Comprehensive income attributable to WESCO International | $ | 129,510 |  |  | $ | 129,510 |  |  | $ | 115,945 |  |  | $ | (243,467 | ) |  | $ | 131,498 |
| Condensed Consolidating Statement of Income and Comprehensive Income
| Year ended December 31, 2017
| (In thousands)
| WESCO International, Inc. |  | WESCO Distribution, Inc. |  | Non-Guarantor Subsidiaries |  | Consolidating and Eliminating Entries |  | Consolidated
Net sales | $ | — |  |  | $ | 3,370,088 |  |  | $ | 4,441,655 |  |  | $ | (132,722 | ) |  | $ | 7,679,021 |
Cost of goods sold (excluding depreciation and | — |  |  | 2,714,511 |  |  | 3,612,577 |  |  | (132,722 | ) |  | 6,194,366 |
amortization) |  |  |  |  |  |  |  |  |
Selling, general and administrative expenses | — |  |  | 555,503 |  |  | 546,095 |  |  | — |  |  | 1,101,598 |
Depreciation and amortization | — |  |  | 18,442 |  |  | 45,575 |  |  | — |  |  | 64,017 |
Results of affiliates’ operations | 160,587 |  |  | 168,782 |  |  | — |  |  | (329,369 | ) |  | — |
Net interest and other | — |  |  | 94,313 |  |  | (27,713 | ) |  | — |  |  | 66,600 |
Provision for income taxes | (2,546 | ) |  | (4,486 | ) |  | 96,339 |  |  | — |  |  | 89,307 |
Net income | $ | 163,133 |  |  | $ | 160,587 |  |  | $ | 168,782 |  |  | $ | (329,369 | ) |  | $ | 163,133 |
Less: Net loss attributable to noncontrolling interests | — |  |  | — |  |  | (327 | ) |  | — |  |  | (327 | )
Net income attributable to WESCO International | $ | 163,133 |  |  | $ | 160,587 |  |  | $ | 169,109 |  |  | $ | (329,369 | ) |  | $ | 163,460 |
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |
Foreign currency translation adjustments | 85,762 |  |  | 85,762 |  |  | 85,762 |  |  | (171,524 | ) |  | 85,762 |
Post retirement benefit plan adjustments, net of tax | (6,381 | ) |  | (6,381 | ) |  | (6,381 | ) |  | 12,762 |  |  | (6,381 | )
Comprehensive income attributable to WESCO International | $ | 242,514 |  |  | $ | 239,968 |  |  | $ | 248,490 |  |  | $ | (488,131 | ) |  | $ | 242,841 |
| Condensed Consolidating Statement of Cash Flows
| Year ended December 31, 2019
| (In thousands)
| WESCO International, Inc. |  | WESCO Distribution, Inc. |  | Non-Guarantor Subsidiaries |  | Consolidating and Eliminating Entries |  | Consolidated
Net cash provided by operating activities | $ | 20,328 |  |  | $ | 188,797 |  |  | $ | 15,242 |  |  | $ | — |  |  | $ | 224,367 |
Investing activities: |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (22,330 | ) |  | (21,737 | ) |  | — |  |  | (44,067 | )
Acquisition payments | — |  |  | (27,597 | ) |  | — |  |  | — |  |  | (27,597 | )
Proceeds from sale of assets | — |  |  | — |  |  | 16,795 |  |  | — |  |  | 16,795 |
Dividends received from subsidiaries | — |  |  | 134,853 |  |  | — |  |  | (134,853 | ) |  | — |
Advances to subsidiaries and other | — |  |  | (222,482 | ) |  | (5,931 | ) |  | 222,482 |  |  | (5,931 | )
Net cash used in investing activities | — |  |  | (137,556 | ) |  | (10,873 | ) |  | 87,629 |  |  | (60,800 | )
Financing activities: |  |  |  |  |  |  |  |  |
Proceeds from issuance of debt | 132,721 |  |  | 423,441 |  |  | 998,019 |  |  | (222,482 | ) |  | 1,331,699 |
Repayments of debt | — |  |  | (449,190 | ) |  | (824,302 | ) |  | — |  |  | (1,273,492 | )
Equity activities | (153,049 | ) |  | — |  |  | — |  |  | — |  |  | (153,049 | )
Dividends paid by subsidiaries | — |  |  | — |  |  | (134,853 | ) |  | 134,853 |  |  | — |
Other | — |  |  | (14,924 | ) |  | — |  |  | — |  |  | (14,924 | )
Net cash (used in) provided by financing activities | (20,328 | ) |  | (40,673 | ) |  | 38,864 |  |  | (87,629 | ) |  | (109,766 | )
Effect of exchange rate changes on cash and cash equivalents | — |  |  | — |  |  | 758 |  |  | — |  |  | 758 |
Net change in cash and cash equivalents | — |  |  | 10,568 |  |  | 43,991 |  |  | — |  |  | 54,559 |
Cash and cash equivalents at the beginning of period | — |  |  | 35,931 |  |  | 60,412 |  |  | — |  |  | 96,343 |
Cash and cash equivalents at the end of period | $ | — |  |  | $ | 46,499 |  |  | $ | 104,403 |  |  | $ | — |  |  | $ | 150,902 |
| Condensed Consolidating Statement of Cash Flows
| Year ended December 31, 2018
| (In thousands)
| WESCO International, Inc. |  | WESCO Distribution, Inc. |  | Non-Guarantor Subsidiaries |  | Consolidating and Eliminating Entries |  | Consolidated
Net cash provided by operating activities | $ | 18,672 |  |  | $ | 153,467 |  |  | $ | 124,582 |  |  | $ | — |  |  | $ | 296,721 |
Investing activities: |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (17,573 | ) |  | (18,637 | ) |  | — |  |  | (36,210 | )
Proceeds from sale of assets | — |  |  | — |  |  | 12,461 |  |  | — |  |  | 12,461 |
Dividends received from subsidiaries | — |  |  | 347,531 |  |  | — |  |  | (347,531 | ) |  | — |
Advances to subsidiaries and other | — |  |  | (406,028 | ) |  | 196,219 |  |  | 199,416 |  |  | (10,393 | )
Net cash (used in) provided by investing activities | — |  |  | (76,070 | ) |  | 190,043 |  |  | (148,115 | ) |  | (34,142 | )
Financing activities: |  |  |  |  |  |  |  |  |
Proceeds from issuance of debt | 108,497 |  |  | 339,606 |  |  | 1,086,673 |  |  | (199,416 | ) |  | 1,335,360 |
Repayments of debt | — |  |  | (410,606 | ) |  | (1,051,611 | ) |  | — |  |  | (1,462,217 | )
Equity activities | (127,169 | ) |  | — |  |  | — |  |  | — |  |  | (127,169 | )
Dividends paid by subsidiaries | — |  |  | — |  |  | (347,531 | ) |  | 347,531 |  |  | — |
Other | — |  |  | (21,068 | ) |  | — |  |  | — |  |  | (21,068 | )
Net cash used in financing activities | (18,672 | ) |  | (92,068 | ) |  | (312,469 | ) |  | 148,115 |  |  | (275,094 | )
Effect of exchange rate changes on cash and cash equivalents | — |  |  | — |  |  | (9,095 | ) |  | — |  |  | (9,095 | )
Net change in cash and cash equivalents | — |  |  | (14,671 | ) |  | (6,939 | ) |  | — |  |  | (21,610 | )
Cash and cash equivalents at the beginning of period | — |  |  | 50,602 |  |  | 67,351 |  |  | — |  |  | 117,953 |
Cash and cash equivalents at the end of period | $ | — |  |  | $ | 35,931 |  |  | $ | 60,412 |  |  | $ | — |  |  | $ | 96,343 |
| Condensed Consolidating Statement of Cash Flows
| Year ended December 31, 2017
| (In thousands)
| WESCO International, Inc. |  | WESCO Distribution, Inc. |  | Non-Guarantor Subsidiaries |  | Consolidating and Eliminating Entries |  | Consolidated
Net cash (used in) provided by operating activities | $ | (36,575 | ) |  | $ | 101,826 |  |  | $ | 83,871 |  |  | $ | — |  |  | $ | 149,122 |
Investing activities: |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (13,215 | ) |  | (8,292 | ) |  | — |  |  | (21,507 | )
Proceeds from sale of assets | — |  |  | — |  |  | 6,766 |  |  | — |  |  | 6,766 |
Dividends received from subsidiaries | — |  |  | 307,784 |  |  | — |  |  | (307,784 | ) |  | — |
Advances to subsidiaries and other | — |  |  | (383,686 | ) |  | 26,912 |  |  | 366,220 |  |  | 9,446 |
Net cash (used in) provided by investing activities | — |  |  | (89,117 | ) |  | 25,386 |  |  | 58,436 |  |  | (5,295 | )
Financing activities: |  |  |  |  |  |  |  |  |
Proceeds from issuance of debt | 143,367 |  |  | 775,926 |  |  | 1,144,848 |  |  | (383,686 | ) |  | 1,680,455 |
Repayments of debt | — |  |  | (785,392 | ) |  | (952,740 | ) |  | 17,466 |  |  | (1,720,666 | )
Equity activities | (106,792 | ) |  | — |  |  | — |  |  | — |  |  | (106,792 | )
Dividends paid by subsidiaries | — |  |  | — |  |  | (307,784 | ) |  | 307,784 |  |  | — |
Other | — |  |  | 5,807 |  |  | — |  |  | — |  |  | 5,807 |
Net cash provided by (used in) financing activities | 36,575 |  |  | (3,659 | ) |  | (115,676 | ) |  | (58,436 | ) |  | (141,196 | )
Effect of exchange rate changes on cash and cash equivalents | — |  |  | — |  |  | 5,191 |  |  | — |  |  | 5,191 |
Net change in cash and cash equivalents | — |  |  | 9,050 |  |  | (1,228 | ) |  | — |  |  | 7,822 |
Cash and cash equivalents at the beginning of period | — |  |  | 41,552 |  |  | 68,579 |  |  | — |  |  | 110,131 |
Cash and cash equivalents at the end of period | $ | — |  |  | $ | 50,602 |  |  | $ | 67,351 |  |  | $ | — |  |  | $ | 117,953 |

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