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ACQUISITIONS (Tables) | 12 Months Ended
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Dec. 31, 2022
Business Acquisition [Line Items] |
Business Acquisition, Schedule of Consideration Transferred | The total fair value of consideration transferred for the Merger consisted of the following:
| (In thousands)
Cash portion attributable to common stock outstanding | $ | 2,476,010 |
Cash portion attributable to options and restricted stock units outstanding | 87,375 |
Fair value of cash consideration | 2,563,385 |
Common stock consideration | 313,512 |
Series A preferred stock consideration | 573,786 |
Fair value of equity consideration | 887,298 |
Extinguishment of Anixter obligations, including accrued and unpaid interest | 1,247,653 |
Total purchase consideration | $ | 4,698,336 |
Supplemental cash flow disclosure related to acquisitions: |
Cash paid for acquisition | $ | 3,811,038 |
Less: Cash acquired | (103,463) |
Cash paid for acquisition, net of cash acquired | $ | 3,707,575 |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table sets forth the allocation of the purchase consideration to the respective fair value of assets acquired and liabilities assumed for the acquisition of Anixter:
| Preliminary Fair Value Estimates(1) |  | Measurement Period Adjustments |  | Final Purchase Price Allocation(1)
Assets | (In thousands)
Cash and cash equivalents | $ | 103,463 |  |  | $ | — |  |  | $ | 103,463 |
Trade accounts receivable | 1,309,894 |  |  | (8,928) |  |  | 1,300,966 |
Other receivables | 116,386 |  |  | — |  |  | 116,386 |
Inventories | 1,424,768 |  |  | (14,906) |  |  | 1,409,862 |
Prepaid expenses and other current assets | 53,462 |  |  | 14,202 |  |  | 67,664 |
Property, buildings and equipment | 215,513 |  |  | (3,792) |  |  | 211,721 |
Operating lease assets | 262,238 |  |  | 18,047 |  |  | 280,285 |
Intangible assets | 1,832,700 |  |  | 5,365 |  |  | 1,838,065 |
Goodwill | 1,367,981 |  |  | 16,356 |  |  | 1,384,337 |
Other assets | 114,258 |  |  | 25,589 |  |  | 139,847 |
Total assets | $ | 6,800,663 |  |  | $ | 51,933 |  |  | $ | 6,852,596 |
Liabilities |  |  |  |  |
Accounts payable | $ | 920,163 |  |  | $ | (1,239) |  |  | $ | 918,924 |
Accrued payroll and benefit costs | 69,480 |  |  | — |  |  | 69,480 |
Short-term debt and current portion of long-term debt | 13,225 |  |  | — |  |  | 13,225 |
Other current liabilities | 221,574 |  |  | 12,745 |  |  | 234,319 |
Long-term debt | 77,822 |  |  | (205) |  |  | 77,617 |
Operating lease liabilities | 200,286 |  |  | 17,017 |  |  | 217,303 |
Deferred income taxes | 392,165 |  |  | (15,111) |  |  | 377,054 |
Other noncurrent liabilities | 207,612 |  |  | 38,726 |  |  | 246,338 |
Total liabilities | $ | 2,102,327 |  |  | $ | 51,933 |  |  | $ | 2,154,260 |
Fair value of net assets acquired, including goodwill and intangible assets | $ | 4,698,336 |  |  | $ | — |  |  | $ | 4,698,336 |
(1) The preliminary fair value estimates are as of June 30, 2020. As disclosed above, the Company finalized its purchase price allocation during the measurement period.
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination | The following table sets forth the identifiable intangible assets and their estimated weighted-average useful lives:
Identifiable Intangible Assets |  | Estimated Fair Value |  | Weighted-Average Estimated Useful Life in Years
|  | (In thousands) |  |
Customer relationships |  | $ | 1,098,900 |  |  | 19
Trademarks |  | 735,000 |  |  | Indefinite
Non-compete agreements |  | 4,165 |  |  | 2
Total identifiable intangible assets |  | $ | 1,838,065 |  |  |
Business Acquisition, Pro Forma Information | Pro Forma Financial Information The following unaudited pro forma financial information presents combined results of operations for the periods presented, as if the Company had completed the Merger on January 1, 2019. The unaudited pro forma financial information includes adjustments to amortization and depreciation for intangible assets and property, buildings and equipment, adjustments to interest expense for the additional indebtedness incurred to complete the acquisition (including the amortization of debt discount and issuance costs), transaction costs, change in control and severance costs, dividends accrued on the Series A preferred stock, compensation expense associated with the Wesco phantom stock unit awards described in Note 13, “Employee Benefit Plans”, as well as the respective income tax effects of such adjustments. For the year ended December 31, 2020, adjustments totaling $7.0 million increased the unaudited pro forma net income attributable to common stockholders. The unaudited pro forma financial information does not reflect any cost savings, operating synergies or revenue enhancements that Wesco may achieve as a result of its acquisition of Anixter, the costs to integrate the operations of Wesco and Anixter or the costs necessary to achieve these cost savings, operating synergies and revenue enhancements. The unaudited pro forma financial information presented below is not necessarily indicative of consolidated results of operations of the combined business had the acquisition occurred at the beginning of the respective periods, nor is it necessarily indicative of future results of operations of the combined company.
| Year Ended
(In thousands) | December 31, 2020
Pro forma net sales | $ | 16,016,902 |
Pro forma net income attributable to common stockholders | 119,839 |

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