SEC Filing | WESCO Distribution Inc.

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 11-K (Mark One) X ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED] for the fiscal year ended December 29, 2003 or _ TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED] for the transition period from __________ to __________ COMMISSION FILE NUMBER 1-14989 A. Full title of the plan and address of the plan, if different from that of the issuer named below: WESCO DISTRIBUTION, INC. RETIREMENT SAVINGS PLAN B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive offices: WESCO INTERNATIONAL, Inc. 225 West Station Square Drive Suite 700 Pittsburgh, Pennsylvania 15219-1122

WESCO DISTRIBUTION, INC. RETIREMENT SAVINGS PLAN FINANCIAL STATEMENTS DECEMBER 29, 2003 AND 2002

WESCO DISTRIBUTION, INC. RETIREMENT SAVINGS PLAN INDEX DECEMBER 29, 2003 AND 2002 - ------------------------------------------------------------------------------ PAGE(S) REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM......................1 FINANCIAL STATEMENTS Statements of Net Assets Available for Benefits..............................2 Statement of Changes in Net Assets Available for Benefits....................3 Notes to Financial Statements..............................................4-9 SUPPLEMENTAL SCHEDULE Schedule H, line 4(i) - Schedule of Assets (Held at End of Year).........10-13

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Investment and Administrative Committees of WESCO Distribution, Inc. Retirement Savings Plan In our opinion, the accompanying statements of net assets available for benefits and the related statement of changes in net assets available for benefits present fairly, in all material respects, the net assets available for benefits of the WESCO Distribution, Inc. Retirement Savings Plan (the "Plan") at December 29, 2003 and 2002, and the changes in net assets available for benefits for the year ended December 29, 2003 in conformity with accounting principles generally accepted in the United States of America. These financial statements are the responsibility of the Plan's management; our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these statements in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. Our audits were conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental Schedule of Assets (Held at End of Year) is presented for the purpose of additional analysis and is not a required part of the basic financial statements but is supplementary information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. This supplemental schedule is the responsibility of the Plan's management. The supplemental schedule has been subjected to the auditing procedures applied in the audits of the basic financial statements and, in our opinion, is fairly stated in all material respects in relation to the basic financial statements taken as a whole. May 14, 2004 1

WESCO DISTRIBUTION, INC. RETIREMENT SAVINGS PLAN STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS DECEMBER 29, 2003 AND 2002 - ------------------------------------------------------------------------------ 2003 2002 Investments (Notes 2 and 6) $228,849,727 $191,073,232 Receivables Employee contributions 58,562 347,809 Employer matching contributions 24,353 144,346 Employer profit sharing discretionary contribution 3,770,102 -- Accrued interest 14,058 22,592 ------------ ------------ Net assets available for benefits $232,716,802 $191,587,979 ============ ============ The accompanying notes are an integral part of these financial statements. 2

WESCO DISTRIBUTION, INC. RETIREMENT SAVINGS PLAN STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS YEAR ENDED DECEMBER 29, 2003 - ------------------------------------------------------------------------------- ADDITIONS Employee contributions $ 11,908,265 Employee rollovers 448,899 Employer contributions 7,456,668 Net appreciation from registered investment companies 23,766,318 Net appreciation from common/collective trust funds 8,816,423 Net appreciation from stock funds and self-directed accounts 2,961,459 ------------ 55,358,032 Interest and dividend income 640,741 ------------ Total additions 55,998,773 ------------ DEDUCTIONS Distributions to withdrawing participants 14,869,950 ------------ Total deductions 14,869,950 ------------ Net increase 41,128,823 NET ASSETS AVAILABLE FOR BENEFITS Beginning of year 191,587,979 ------------ End of year $232,716,802 ============ The accompanying notes are an integral part of these financial statements. 3

WESCO DISTRIBUTION, INC. RETIREMENT SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS DECEMBER 29, 2003 AND 2002 - ------------------------------------------------------------------------------ 1. MAJOR FEATURES OF THE PLAN WESCO Distribution, Inc. Retirement Savings Plan (the "Plan") was established as of February 28, 1994 (date of inception). At the date of inception, certain employees of the predecessor company became employees of WESCO Distribution, Inc. (the "Company") and participants in the Plan. At the date of inception, all funds held by the prior plans related to the transferred employees were transferred to the Plan. The Plan covers the current employees of the Company and those former employees with a fund balance of at least $5,000 who elected to maintain their funds in the Plan. Former employees cannot make contributions to the Plan. The Plan is subject to the Employee Retirement Income Security Act of 1974 ("ERISA"). Under the Plan, participants may elect to make contributions on a tax deferred basis in the form of a payroll deduction ("Tax Deferred Contributions") ranging from 1% up to the lesser of 15% of their compensation or $12,000. In addition, participants may elect to make contributions on an after-tax basis in the form of a payroll deduction ("After-Tax Contributions") ranging from 1% up to the lesser of 15% of their compensation or $12,000. Effective January 1, 2003, the range of compensation that participants may elect to contribute to the Plan in the form of a payroll deduction for Tax Deferred Contributions and After-Tax Contributions changed to 1% up to the lesser of 50% of their compensation or $12,000. The $12,000 may be adjusted in future years by the Internal Revenue Service ("IRS"). The sum of the Tax Deferred Contributions and the After-Tax Contributions cannot exceed 15% of the participant's compensation. Effective January 1, 2003, this percentage changed to 50%. Subject to limitation, the Company will make contributions ("Regular Company Contributions") in an amount equal to 50% of a participant's total monthly contributions up to a maximum of 6%. In addition, the Company may, at the Board of Directors' discretion, make a discretionary profit sharing contribution ("Company Profit Sharing Contribution") to the Plan provided certain predetermined profit levels are attained. The Company made a profit sharing contribution of $3,770,102 for the year ended December 29, 2003. Participants are fully vested in the value of their contributions and related investment income at all times and vest in their allocated share of employer contributions according to the following schedule until December 31, 2003: Less than three years of service 0% Three years of service 33% Four years of service 66% Five or more years of service 100% 4

WESCO DISTRIBUTION, INC. RETIREMENT SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS DECEMBER 29, 2003 AND 2002 - ------------------------------------------------------------------------------ Effective January 1, 2003, the vesting provisions of the plan changed. Participants now vest in their allocated share of employer contributions according to the following schedule: Less than two years of service 0% Two years of service 20% Three years of service 40% Four years of service 66% Five or more years of service 100% In conjunction with a leveraged recapitalization of the Company all active employees as of June 5, 1998 became fully vested. Employer contributions forfeited by participants not vested at their termination date are used to reinstate previously forfeited account balances of former participants who have returned to employment with the Company, or to reduce employer contributions in accordance with the plan document. Total forfeitures that reduced employer contributions in 2003 were approximately $5,000. 5

WESCO DISTRIBUTION, INC. RETIREMENT SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS DECEMBER 29, 2003 AND 2002 - ------------------------------------------------------------------------------ Sixteen options were available for investment of contributions to the Plan as of December 29, 2003. A brief description of the investment options is as follows: FUND DESCRIPTION American Balanced Fund Broadly diversified fund that invests in securities and bonds for the preservation of capital, current income and long-term growth of capital and income American Century Long-term capital growth fund that invests in Value Fund securities that its management believes are undervalued at the time American Express Trust Diversified corporate stock fund that seeks to Equity Index Fund I achieve a return as close as possible to the Standard and Poor's 500 Stock Index American Express Trust Fixed income fund that invests exclusively in Income Fund II American Express Trust Income Fund I, which invests in a diversified pool of insurance and bank investment contracts and book value investment contracts of varying maturity size and yield to preserve principal and income American Express Trust Invests in a portfolio consisting of equity Midcap Growth Fund securities, primarily comprised of mid-to-large capitalized companies, convertible securities, money market instruments, and stock index future contracts AXP New Dimension Fund Common stock fund that seeks companies showing potential for significant growth for long-term growth of capital Columbia Contrarian This bond fund normally invests at least 65% Income Fund of its assets in U.S. Government debt securities, investment grade bonds, and cash and cash equivalents Columbia Acorn Fund The fund invests primarily in common stocks of small to medium sized companies with capitalizations of less than $2 billion. MFS Value Fund Diversified fund that invests in income-producing equities, fixed-income securities, and foreign securities Promix Max Term This fund is an aggressive mix of stocks, bonds, Investment Trust Fund and cash that invests primarily in stocks, but may invest, to a limited extent, in fixed income securities Promix Extended Term This fund is a growth-oriented mix of stocks, Investment Trust Fund bonds, and cash that invests primarily in long-term assets. Stocks will be the predominant assets held by the fund as long as the stock market valuations are favorable vs. long-term bonds Promix Moderate Term This fund is a moderately conservative mix of Investment Trust Fund stocks, bonds, and cash that invests primarily in fixed income securities Promix Conservative This fund is a conservative mix of stocks, bonds, Term Investment and cash invested primarily to generate a more Trust Fund stable rate of growth than the stock market Self-Directed Account that provides participants access to Brokerage Account a wide range of common stocks and mutual funds beyond those available through the Plan Templeton Foreign Fund Aggressive long-term capital growth fund that invests in common stocks of companies outside the United States WESCO International Fund that invests in the stock of WESCO Stock Fund International, Inc. 6

WESCO DISTRIBUTION, INC. RETIREMENT SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS DECEMBER 29, 2003 AND 2002 - ------------------------------------------------------------------------------ In addition, participant account balances transferred from the prior plans may remain invested in the Viacom (formerly "CBS Corporation") Pooled Stock Fund, although no future contributions may be invested in the Viacom Pooled Stock Fund. Investment income earned by the Viacom Pooled Stock Fund is invested in the American Express Trust Income Fund II in accordance with the plan document. As a result of the initial public offering of WESCO International, Inc., participants were also given the option to invest in the WESCO International Stock Fund effective July 1, 1999. An account is maintained for each participant, which is credited with the participant's contributions and an allocation of Company contributions and plan earnings. Allocations are based on participant contributions or account balances, as defined by the Plan. The benefit to which a participant is entitled is the benefit that can be provided from that participant's account. The Investment Committee and the Administrative Committee of the Company's Board of Directors administer the Plan. Reference should be made to the Prospectus, "What Does Your Future Hold?", for additional information on the Plan. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES ACCOUNTING PRINCIPLES The financial statements of the Plan have been prepared in accordance with accounting principles generally accepted in the United States of America. The following are the significant accounting policies followed by the Plan: BASIS OF ACCOUNTING The accounting records of the Plan are maintained on the accrual basis of accounting. INVESTMENT VALUATION AND INCOME RECOGNITION Investments are carried at fair value in the accompanying financial statements. Investments in registered investment companies, common/collective trust funds and common stocks are valued by the trustee based on market values of all assets in the funds' securities portfolio and the number of units in the funds owned by the Plan. Investments in the Viacom Pooled Stock Fund and WESCO International Stock Fund are valued at quoted market prices. Participant loans are valued at cost which approximates fair value. Purchases and sales of securities are recorded on a settlement date basis. Dividends are recorded on the ex-dividend date. NET APPRECIATION (DEPRECIATION) IN VALUE OF INVESTMENTS The Plan presents in the statement of changes in net assets available for benefits the net appreciation (depreciation) in the fair value of its investments, which consists of the realized gains (losses) and the unrealized appreciation (depreciation) in common/collective trusts, registered investment companies, Viacom and WESCO International stock and other common stocks. 7

WESCO DISTRIBUTION, INC. RETIREMENT SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS DECEMBER 29, 2003 AND 2002 - ------------------------------------------------------------------------------ USE OF ESTIMATES The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make significant estimates and assumptions. These may affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of additions and deductions during the reporting period. Actual results could differ from those estimates. RISKS AND UNCERTAINTIES The Plan provides for various investment options in any combination of stocks, bonds, fixed income securities and other investment securities. Investment securities are exposed to various risks, such as interest rate, market and credit. Due to the level of risk associated with certain investment securities and the level of uncertainty related to changes in the value of investment securities, it is at least reasonably possible that changes in the near-term could materially affect participants' account balances and the amounts reported in the statements of net assets available for benefits and the statement of changes in net assets available for benefits. OTHER Administrative expenses, excluding participant loan setup fees, distribution fees and hardship withdrawal fees, are paid by the Company and, therefore, are not expenses of the Plan. Benefits are recorded when paid. 3. TAX STATUS By a favorable determination letter dated October 15, 2003, the IRS has ruled that the Plan qualifies under Section 401(a) of the Internal Revenue Code ("IRC") and, therefore, is exempt from federal income taxes under provisions of Section 501(a). Accordingly, no provision for income taxes has been included in the Plan's financial statements. 4. EMPLOYEE LOANS Participants are permitted to borrow against a portion of their vested account balance within the prescribed limitations and pursuant to nondiscriminatory rules established by the Administrative Committee. Each loan is to be repaid over a period not to exceed five years. The interest rate applied to employee loans is established each month by the Administrative Committee at 1% above the PNC Bank prime interest rate. The interest rate on new loans ranged between 5.0% and 5.25% for the period December 29, 2002 to December 29, 2003. Principal and interest payments are generally made through monthly payroll deductions and are credited to the participant's individual account. Loans of approximately $3,087,000 were made from the Plan and loan principal repayments of approximately $3,131,000 were received by the Plan for the year ended December 29, 2003. Interest of approximately $373,000 was received by the Plan for the year ended December 29, 2003 related to employee loans. 8

WESCO DISTRIBUTION, INC. RETIREMENT SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS DECEMBER 29, 2003 AND 2002 - ------------------------------------------------------------------------------ 5. PLAN TERMINATION Although the Company has not expressed any intent to do so, it has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA. In the event the Plan terminates, participants will become 100% vested in their accounts, and all vested assets shall be distributed to such participants in accordance with the terms of the Plan, or in such other manner, not inconsistent with the requirements of any applicable law or regulation, as the Company may in its sole discretion determine. 6. INVESTMENTS Investments representing 5% or more of the net assets available for benefits as of December 29, 2003 and 2002 were as follows: 2003 2002 American Express Trust Income Fund II $60,672,391 $60,815,296 American Express Trust Equity Index Fund I 28,313,897 21,667,895 American Balanced Fund 26,979,066 21,022,392 AXP New Dimension Fund 43,881,568 35,539,734 PIMCO Opportunity Fund * 10,596,247 Columbia Acorn Fund 17,192,475 * * These funds did not represent 5% or more of the net assets available for benefits as of the respective Plan year end. 7. RELATED PARTY TRANSACTIONS Certain investments of the Plan are mutual funds managed by American Express. The trustee of the Plan is American Express Trust Company. Participants of the Plan may also elect to invest in the WESCO Pooled Stock Fund. WESCO, Inc. is the plan sponsor. Therefore, these transactions qualify as party-in-interest transactions. 9

WESCO DISTRIBUTION, INC. RETIREMENT SAVINGS PLAN SCHEDULE OF ASSETS (HELD AT END OF YEAR) EIN 25-1723345, PLAN NUMBER 001 DECEMBER 29, 2003 SCHEDULE H, LINE 4i - ------------------------------------------------------------------------------ FAIR (a) ISSUER(b) DESCRIPTION(c) COST(d) VLUE(e) * American Express Trust Company AET Midcap Growth II $ 764,769 * American Express Trust Company AET Income II 60,672,391 * American Express Trust Company AET Equity Index I 28,313,897 * American Express Financial AXP New Dimensions Fund 43,881,568 American Funds American Balanced Fund (Class A) 26,979,066 American Century Investments American Century Value Fund 11,289,426 Columbia Mutual Funds Columbia Acorn Fund (Class A) 17,192,475 Columbia Mutual Funds Columbia Contrarian Income Fund 7,582,425 MFS Family of Funds MFS Value Fund (Class A) 2,198,364 Participant Promissory Notes 5.0%-10.5% due at various dates 5,584,313 Promix Funds Promix Max Term Investment Trust 697,679 Promix Funds Promix Extended Term Investment Trust 782,504 Promix Funds Promix Moderate Term Investment Trust 255,735 Promix Funds Promix Conservative Term Inv. Trust 174,157 Templeton Funds Templeton Foreign Fund (A) 7,693,207 * WESCO International, Inc. WESCO International Pooled Stock Fund 5,330,681 Advanced Micro Dev. Common Stock 10,986 AES Corp. Common Stock 604 Altria Group Inc. Common Stock 2,720 Amazon Com. Inc. Common Stock 1,123 American Ammunition Inc. Common Stock 25 American Century Investments American Century Cap Portfolio Fund 11,551 American Century Investments American Century Equity Income Fund 11,666 * American Express Financial AXP Threadneedle European Equity 8,407 * American Express Trust Company AET Money Market I 170,726 * American Express Trust Company AET Money Market II 80,074 Anheuser Busch Common Stock 3,930 Applied Materials Common Stock 4,544 Aquila Inc. Common Stock 17,700 Artemis International Sol Common Stock 46 Artisan International Investor Shrs. Common Stock 3,507 AT&T Wireless Services Common Stock 783 Avolonbay Communities Inc. Common Stock 9,690 Baron Funds Baron Asset Small Cap Fund 6,796 Baron Funds Baron Growth Fund 9,889 Berkshire Hathaway Inc. Common Stock 2,800 Berwyn Group Berwyn Income Fund 30,018 Big Dog Holdings Inc. Common Stock 373 Biogen Idec Inc. Common Stock 2,624 Boeing Co. Common Stock 4,200 Brandywine Funds Brandywine Income Fund 32,038 Brazos Mutual Funds Brazos Micro Cap Growth Portfolio 5,362 Budget Group Inc. Common Stock 1,708 Calpine Corp. Common Stock 244 Charles Schwab Corp. Common Stock 4,616 10

WESCO DISTRIBUTION, INC. RETIREMENT SAVINGS PLAN SCHEDULE OF ASSETS (HELD AT END OF YEAR) EIN 25-1723345, PLAN NUMBER 001 DECEMBER 29, 2003 SCHEDULE H, LINE 4i - ------------------------------------------------------------------------------ FAIR (a) ISSUER(b) DESCRIPTION(c) COST(d) VLUE(e) Chevron Texaco Corp. Common Stock 4,275 Chicago Mercantile Ex Holdings Common Stock 5,430 Chiral Quest Inc. Common Stock 88 Cisco Systems Common Stock 7,808 Coach Inc. Common Stock 2,799 Coinstar, Inc. Common Stock 9,380 Comdisco Hldg Co. Inc. Common Stock 1,160 Concord EFS Inc. Common Stock 8,808 Corning Inc. Common Stock 978 CTS Corp. Common Stock 1,190 DCH Technology Common Stock 30 Dodge & Cox Funds Dodge & Cox Balanced Fund 7,301 Dodge & Cox Funds Dodge & Cox Stock Fund 11,025 Dualstar Technologies Common Stock 38 Eagle Broadband Inc. Common Stock 34,060 Earthshell Corp. Common Stock 178 Eclipse Funds Eclipse Balanced Fund 7,251 EMC Corp. Common Stock 1,287 Encana Corp. Common Stock 11,826 Equifax Inc. Common Stock 4,249 Ericsson Telephone Co Common Stock 179 Excelsior Funds Excelsior Fds Inc. 8,862 Federal Mogul Corp. Common Stock 1,572 Fidelity National Financial Common Stock 1,932 First Data Corp. Common Stock 5,098 Ford Motor Company Common Stock 1,616 Free Markets Inc. Common Stock 4,445 Fremont Investment Advisors Fremont Bond Fund 8,229 Fremont Investment Advisors Fremont U.S. Micro-Cap Fund 13,082 Gabelli Funds Gabelli Asset Fund 5,671 Gabelli Funds Gabelli Gold Fund 14,603 General Dynamics Common Stock 3,610 General Electric Common Stock 1,850 General Motors Common Stock 1,880 Genesco Inc. Common Stock 6,232 Genetronics Biomedical Ltd. Common Stock 7,260 Global Crossing Ltd. Common Stock 28 Goodyear Tire & Rubber Common Stock 788 Halliburton Co. Common Stock 4,449 Harbor Funds Harbor Bond Fund 5,606 Harbor Funds Harbor International Fund 14,313 Harris Associates Harris Assoc Investment Trust 10,697 Heartland Funds Heartland Value Fund 10,567 Home Depot Common Stock 5,337 Icon Funds Icon Information Technology Fund 10,232 Intel Corp. Common Stock 11,253 11

WESCO DISTRIBUTION, INC. RETIREMENT SAVINGS PLAN SCHEDULE OF ASSETS (HELD AT END OF YEAR) EIN 25-1723345, PLAN NUMBER 001 DECEMBER 29, 2003 SCHEDULE H, LINE 4i - ------------------------------------------------------------------------------ FAIR (a) ISSUER(b) DESCRIPTION(c) COST(d) VLUE(e) Internap Network Systems Common Stock 2,471 International Game Technology Common Stock 4,683 Ishares TR Common Stock 11,215 Janus Funds Janus Growth and Income Fund 12,931 Janus Funds Janus Mid Cap Value Fund 9,588 JDS Uniphase Corp. Common Stock 6,820 Kaire Holdings Inc. Common Stock 20 Keryx Biopharmaceuticals Common Stock 13,050 Leap Wireless International Inc. Common Stock 6 Leuthhold Funds Leuthhold Core Investment Fund 7,478 Liberty Property Trust Common Stock 7,670 LTV Corp. Common Stock 2 Lucent Technologies Common Stock 1,144 Merck & Co. Common Stock 4,569 Meridian Funds Meridian Value Funds 6,164 Microsoft Corp. Common Stock 4,531 Microtone Inc. Common Stock 116 Mirant Corp. Common Stock 1,900 NASDAQ NASDAQ Gold Tr I Uit 26,419 National Health Investors, Inc. Common Stock 9,992 Neuberger Berman Neuberger Berman Genesis Trust 6,479 Nisource Inc. Common Stock 247 Nokia Corp. Common Stock 4,258 Nortel Networks Corp. New Common Stock 8,666 Northern Trust Corp. Common Stock 4,558 Novatel Wireless Common Stock 729 Nvidia Corp. Common Stock 948 Oak Associates Oak Associates White Oak Growth Stock Portfolio 17,441 Oakmark Funds Oakmark Equity and Income Fund 27,719 Oracle Systems Common Stock 3,954 Panera Bread Co. Common Stock 4,774 Paychex Inc. Common Stock 7,400 Pfizer Inc. Common Stock 7,875 Photoworks, Inc. Common Stock 50 PIMCO Funds PIMCO Funds Multi Manager Service 8,197 PIMCO Funds PIMCO Funds Pacific Investment Management Service 9,777 PNC Financial Services Group Common Stock 1,527 Polymedica Corp. Common Stock 23,607 Profunds Profund Ultrasmall Cap Profund I 84,686 Profunds Profunds 81,704 Profunds Profunds 79,019 Qualcomm Inc. Common Stock 8,223 Ralcorp Holdings Inc. Common Stock 1,624 RBB Family RBB Boston Partners Large Cap Value Fund 5,360 12

WESCO DISTRIBUTION, INC. RETIREMENT SAVINGS PLAN SCHEDULE OF ASSETS (HELD AT END OF YEAR) EIN 25-1723345, PLAN NUMBER 001 DECEMBER 29, 2003 SCHEDULE H, LINE 4i - ------------------------------------------------------------------------------ FAIR (a) ISSUER(b) DESCRIPTION(c) COST(d) VLUE(e) RCM Global Health Common Stock 7,670 Real Networks Inc. Common Stock 563 Reliant Resources Inc. Common Stock 21,090 RF Micro-Devices Common Stock 3,988 RSA Sec Inc. Common Stock 1,442 Savvis Communications Common Stock 153 Schering-Plough Common Stock 1,709 Secure Computing Corp. Common Stock 122 Shaw Group Inc. Common Stock 1,371 Sirius Satellite Radio Inc. Common Stock 3,548 Solomon Alliance GRP Common Stock 40 Sprint Corp. PCS Group Common Stock 536 Storage Co Common Stock 1,260 Sun Microsystems Common Stock 6,258 Sysco Corp. Common Stock 2,786 T Rowe Price Intl European Stk Fd Common Stock 3,539 T. Rowe Price funds T Rowe Price GNMA Fund 4,729 Tellabs Common Stock 1,585 Texas Instruments Common Stock 1,471 The Reserve Fund Reserve Fund Inc. Class A 315,059 Thompson Plub and Associates Thompson Plumb Growth Fund 14,861 Time Warner Inc. Common Stock 2,625 Torch Offshore, Inc. Common Stock 2,630 Tyco International Ltd. Common Stock 1,074 Ultra Petroleum Corp. Common Stock 34,358 Uromed Corp. Common Stock 20 Valeant Pharmaceuticals Intl. Common Stock 2,527 Vanguard Funds Vanguard GNMA Portfolio Fund 3,996 Viacom Inc. Class B Common Stock 7,677,498 Vodafone Group Plc. Common Stock 4,910 Wal-Mart Stores Common Stock 5,290 Walt Disney Co. Common Stock 3,522 Weingarten Realty Investors SBI Common Stock 13,470 Weitz Funds Weitz Partners Value Fund 19,492 Weitz Funds Weitz Service Value Portfolio 3,250 * WESCO International, Inc. Common Stock 23,582 Wexford Tr Muhlenkamp Wexford Tr Muhlenkamp Fund 12,149 Whiting Petroleum Corp. Common Stock 4,495 Worldcom, Inc. Common Stock 80 XM Satellite Radio Common Stock 52,320 ------------- $ 228,900,618 ============= *Denotes party-in-interest, for which a statutory exemption exists. 13

EXHIBITS The following exhibits are filed or incorporated as part of this report: Exhibit Number Description ------- ----------- 23.01 Consent of PricewaterhouseCoopers LLP (filed herewith) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized. WESCO DISTRIBUTION, INC. RETIREMENT SAVINGS PLAN Date: June 28, 2004 By: /s/ Stephen A. Van Oss ------------------------- Stephen A. Van Oss Chairman, 401K Retirement Savings Plan Administrative and Investment Committee 14

EXHIBIT 23.01 CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM We hereby consent to the incorporation by reference in the Registration Statement on Form S-8 (No. 333-91187) of WESCO International, Inc. of our report dated May 14, 2004 relating to the financial statements of the WESCO Distribution, Inc. Retirement Savings Plan, which appears in this Form 11-K. Pittsburgh, PA June 28, 2004