XML 37 R21.htm IDEA: XBRL DOCUMENT v3.24.1.u1
SUBSEQUENT EVENTS
3 Months Ended
Mar. 31, 2024
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS
16. SUBSEQUENT EVENTS
On April 1, 2024, Wesco Distribution completed the sale of its WIS business for total consideration of approximately $338.3 million, adjusted from the base purchase price of $350.0 million for estimated net working capital, estimated closing cash, and estimated closing indebtedness. The Company expects to recognize a gain on sale in the range of $88.0 million to $108.0 million in the second quarter of 2024. Upon closing, Wesco Distribution entered into certain Transition Services Agreements (“TSAs”) under which Wesco Distribution agreed to provide transition services to the purchaser for approximately nine months. The Company does not expect the revenues associated with these TSAs to be material.