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BUSINESS SEGMENTS
 12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
SEGMENTS AND RELATED INFORMATION
16. BUSINESS SEGMENTS
The Company has operating segments comprising three strategic business units consisting of EES, CSS and UBS. These operating segments are equivalent to the Company's reportable segments. The Company's chief operating decision maker evaluates the performance of its operating segments based on net sales, adjusted earnings before interest, taxes, depreciation and amortization (“EBITDA”), and adjusted EBITDA margin percentage.
The Company incurs corporate costs primarily related to treasury, tax, information technology, legal and other centralized functions. The Company also has various corporate assets. Segment assets may not include jointly used assets, but segment results include depreciation expense or other allocations related to those assets. Interest expense and other non-operating items are either not allocated to the segments or reviewed on a segment basis. Corporate expenses and assets not directly identifiable with a reportable segment are reported in the tables below to reconcile the reportable segments to the consolidated financial statements.
The following is a description of each of the Company's reportable segments and their business activities.
Electrical & Electronic Solutions
The EES segment, with approximately 6,800 employees supporting customers in more than 50 countries, supplies a broad range of products and solutions primarily to the construction, industrial and original equipment manufacturer (“OEM”) markets. The product portfolio in this business includes a broad range of electrical equipment and supplies, automation and connected devices (the “Internet of Things” or “IoT”), security, lighting, wire and cable, safety, and maintenance, repair and operating (“MRO”) products from industry-leading manufacturing partners. The EES service portfolio includes contractor solutions to improve project execution, direct and indirect manufacturing supply chain optimization programs, lighting and renewables advisory services, and digital and automation solutions to improve safety and productivity.
Communications & Security Solutions
The CSS segment, with approximately 4,400 employees supporting customers in more than 50 countries, is a global leader in the network infrastructure and security markets. CSS sells products directly to end-users or through various channels including data communications contractors, security, network, professional audio/visual and systems integrators. In addition to the core network infrastructure and security portfolio, CSS has a broad offering of safety and energy management solutions. CSS products are often combined with supply chain services to increase efficiency and productivity, including installation enhancement, project deployment, advisory, and IoT and digital services.
Utility & Broadband Solutions
The UBS segment, with approximately 2,900 employees supporting customers primarily in the U.S. and Canada, provides products and services to investor-owned utilities, public power companies, including municipalities, as well as global service providers, wireless providers, broadband operators and the contractors that service these customers. The UBS segment also includes Wesco’s integrated supply business, which provides products and services to large industrial and commercial end-users to support their MRO spend. The products sold into the utility and broadband markets include wire and cable, transformers, transmission and distribution hardware, switches, protective devices, connectors, lighting, conduit, fiber and copper cable, connectivity products, pole line hardware, racks, cabinets, safety and MRO products, and point-to-point wireless devices. The UBS segment also offers a complete set of service solutions to improve customer supply chain efficiencies.
The following tables set forth financial information by reportable segment for the periods presented:
(In millions)Year Ended December 31, 2023
EESCSSUBSTotal
Net sales$8,610.3 $7,152.2 $6,622.7 $22,385.2 
Year Ended December 31, 2022
(In millions)EESCSSUBSTotal
Net sales$8,823.3 $6,401.5 $6,195.3 $21,420.1 
Year Ended December 31, 2021
(In millions)EESCSSUBSTotal
Net sales$7,621.3 $5,715.2 $4,881.0 $18,217.5 
(In millions)Year Ended December 31, 2023
EESCSSUBS
Adjusted EBITDA$727.4$683.8$739.3
Adjusted EBITDA margin %
8.4 %9.6 %11.2 %
Year Ended December 31, 2022
(In millions)EESCSSUBS
Adjusted EBITDA$851.3$599.0$677.3
Adjusted EBITDA margin %
9.6 %9.4 %10.9 %
Year Ended December 31, 2021
(In millions)EESCSSUBS
Adjusted EBITDA$604.5$480.8$428.4
Adjusted EBITDA margin %
7.9 %8.4 %8.8 %