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, 2002 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
CONTENTS
DECEMBER 29, 2002 AND 2001
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PAGE(S)
REPORT OF INDEPENDENT ACCOUNTANTS...........................................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.............................................4-8
SUPPLEMENTAL SCHEDULE
Schedule H, line 4(i) - Schedule of Assets (Held at End of Year).........9-12
Exhibits...................................................................13
Signature..................................................................13
REPORT OF INDEPENDENT ACCOUNTANTS
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, 2002 and 2001, and the changes in net assets available for benefits for the
year ended December 29, 2002 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 auditing standards generally
accepted in the United States of America, which 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.
/s/ PricewaterhouseCoopers LLP
------------------------------
Pittsburgh, Pennsylvania
May 9, 2003
1
WESCO DISTRIBUTION, INC.
RETIREMENT SAVINGS PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
DECEMBER 29, 2002 AND 2001
--------------------------------------------------------------------------------
2002 2001
Investments (Notes 2 and 6) $191,073,232 $217,692,266
Receivables
Employee contributions 347,809 474,098
Employer matching contributions 144,346 173,606
Accrued interest 22,592 21,067
------------ ------------
Net assets available for benefits $191,587,979 $218,361,037
============ ============
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, 2002
--------------------------------------------------------------------------------
ADDITIONS
Employee contributions $ 11,840,826
Employee rollovers 317,654
Employer contributions 3,894,201
------------
16,052,681
Interest and dividend income 455,056
------------
Total additions 16,507,737
------------
DEDUCTIONS
Distributions to withdrawing participants, at fair value 18,511,398
Net depreciation from registered investment companies 20,061,499
Net depreciation from common/collective trust funds 4,123,049
Net depreciation from stock funds and self-directed accounts 584,849
------------
Total deductions 43,280,795
------------
Net decrease 26,773,058
NET ASSETS AVAILABLE FOR BENEFITS
Beginning of year 218,361,037
------------
End of year $191,587,979
============
The accompanying notes are an integral part of these financial statements.
3
WESCO DISTRIBUTION, INC.
RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 29, 2002 AND 2001
--------------------------------------------------------------------------------
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 percent up to the lesser of 15 percent of
their compensation or $11,000. In addition, employees may elect to make
contributions on an after-tax basis in the form of a payroll deduction
("After-Tax Contributions") ranging from 1 percent up to the lesser of 15
percent of their compensation or $11,000. The $11,000 may be adjusted in
future years by the Internal Revenue Service. The sum of the Tax Deferred
Contributions and the After-Tax Contributions cannot exceed 15 percent of
the participant's compensation. Subject to limitation, the Company will
make contributions ("Regular Company Contributions") in an amount equal to
50 percent of a participant's total monthly contributions up to a maximum
of 6 percent. In addition, the Company may, at the Board of Directors'
discretion, make a profit sharing contribution ("Company Profit Sharing
Contribution") to the Plan provided certain predetermined profit levels
are attained. The Company did not make a Profit Sharing Contribution for
the year ended December 29, 2002.
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:
Less than three years of service 0%
Three years of service 33%
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 2002
were approximately $413,000
4
WESCO DISTRIBUTION, INC.
RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 29, 2002 AND 2001
--------------------------------------------------------------------------------
Eleven options were available for investment of contributions to the Plan
as of December 29, 2002. A brief description of the investment options is
as follows:
FUND DESCRIPTION
American Express Trust Income Fixed income fund that invests
Fund II exclusively in 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 Equity Diversified corporate stock fund that
Index Fund I seeks to achieve a return as close as
possible to the Standard and Poor's
500 Stock Index
AXP Selective Fund Investment grade bond fund that seeks
current income and preservation of
capital
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
AXP New Dimension Fund Common stock fund that seeks
companies showing potential for
significant growth for long-term
growth of capital
PIMCO Opportunity Fund Common stock fund that seeks
companies with small equity
capitalization to achieve capital
appreciation
Templeton Foreign Fund Aggressive long-term capital growth
fund that invests in common stocks of
companies outside the United States
American Century Value Fund Long-term capital growth fund that
invests in securities that its
management believes are undervalued
at the time
MFS Value Fund Diversified fund that invests in
income-producing equities,
fixed-income securities, and foreign
securities
WESCO International Stock Fund Fund that invests in the stock of
WESCO International, Inc.
Self-Directed Brokerage Account Account that provides participants
access to a wide range of common
stocks and mutual funds beyond those
available through the Plan.
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
5
WESCO DISTRIBUTION, INC.
RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 29, 2002 AND 2001
--------------------------------------------------------------------------------
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.
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.
6
WESCO DISTRIBUTION, INC.
RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 29, 2002 AND 2001
--------------------------------------------------------------------------------
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 January 31, 1996, the Internal
Revenue Service (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). On December 27,
2002, the Plan filed its current plan document with the IRS to obtain a
new determination letter. The Company has not received a response from the
IRS. The plan administrator believes that the Plan is designed and is
currently being operated in compliance with the applicable requirements of
the IRC. 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 percent above the PNC Bank prime
interest rate. The interest rate on new loans ranged between 5.3 percent
and 6.0 percent for the period December 30, 2001 to December 29, 2002.
Principal and interest payments are generally made through monthly payroll
deductions and are credited to the participant's individual account. Loans
of approximately $2,692,000 were made from the Plan and loan principal
repayments of approximately $2,894,000 were received by the Plan for the
year ended December 29, 2002. Interest of approximately $437,000 was
received by the Plan for the year ended December 29, 2002 related to
employee loans.
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 percent 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.
7
WESCO DISTRIBUTION, INC.
RETIREMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 29, 2002 AND 2001
--------------------------------------------------------------------------------
6. INVESTMENTS
Investments representing 5 percent or more of the net assets available for
benefits as of December 29, 2002 and 2001 were as follows:
2002 2001
American Express Trust Income Fund II $60,815,296 $55,526,062
American Express Trust Equity Index Fund I 21,667,895 30,435,480
American Balanced Fund 21,022,392 23,810,287
AXP New Dimension Fund 35,539,734 49,893,506
PIMCO Opportunity Fund 10,596,247 15,655,044
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 and,
therefore, these transactions qualify as party-in-interest transactions.
8
WESCO DISTRIBUTION, INC.
RETIREMENT SAVINGS PLAN
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
EIN 25-1723345, PLAN NUMBER 001
DECEMBER 29, 2002 SCHEDULE H, LINE 4i
-------------------------------------------------------------------------------
FAIR
ISSUER DESCRIPTION VALUE
American Express Trust American Express Trust Income
Company* Fund II $60,815,296
American Express Trust American Express Trust Equity
Company* Index Fund I 21,667,895
American Express Financial* AXP Selective Fund 8,068,246
American Funds American Balanced Fund 21,022,392
American Express Financial* AXP New Dimension Fund 35,539,734
PIMCO Funds PIMCO Opportunity Fund 10,596,247
Templeton Group Templeton Foreign Fund 5,378,663
American Century Investments American Century Value Fund 8,564,999
MFS Family of Funds MFS Value Fund 1,139,303
Viacom Viacom Pooled Stock Fund 7,846,934
WESCO International, Inc.* WESCO International Stock Fund 3,868,215
Participant Loans* 5.3% - 10.5%, due at various dates 5,628,226
ABB Ltd. Adr Common Stock 16,245
AES Corp. Common Stock 190
AOL Time Warner Inc. Common Stock 3,682
APW Limited Common Stock 1
AT&T Wireless Services Common Stock 611
Active Link Comm Inc. Common Stock 245
Adobe Systems Inc. Common Stock 5,036
Advanced Micro Devices, Inc. Common Stock 4,566
Altera Corp. Common Stock 1,224
Amazon Com Inc. Common Stock 1,245
American Century Investments American Century Equity Income Fund 9,343
American Century Investments American Century Cap Portfolio Fund 8,982
Amgen Common Stock 2,180
Applied Materials, Inc. Common Stock 3,786
Art Technology Inc. Common Stock 118
Artemis Intl Solutions Corp. Common Stock 21
BT Funds BT Investment Fund 15,062
Berger Funds Berger Mid Cap Growth Fund 5,212
Berkshire Hathaway Inc. Common Stock 2,419
Berwyn Group Berwyn Income Fund 25,704
Big Dog Holdings Inc. Common Stock 247
Boeing Co. Common Stock 3,880
Brandywine Funds Brandywine Mid-Cap Growth Fund 24,312
Brazos Mutual Funds Brazos Micro Cap Y Fund 3,309
Budget Group Inc. Common Stock 4,599
CTS Corp. Common Stock 796
Calpine Corp. Common Stock 442
Centerpoint Energy Inc. Common Stock 1,625
Chiral Quest Inc. Common Stock 91
9
WESCO DISTRIBUTION, INC.
RETIREMENT SAVINGS PLAN
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
EIN 25-1723345, PLAN NUMBER 001
DECEMBER 29, 2002 SCHEDULE H, LINE 4i
--------------------------------------------------------------------------------
ISSUER DESCRIPTION VALUE
Cisco Systems Inc. Common Stock 3,643
Comdisco Holding Company Inc. Common Stock 164
Corning Inc. Common Stock 786
DCH Technology Inc. Common Stock 27
Walt Disney Co. Common Stock 2,402
Dodge & Cox Funds Dodge & Cox Balanced Fund 18,719
Dynegy Inc. Class A Common Stock 1,040
Earthshell Corp. Common Stock 945
Eclipse Funds Eclipse Balanced Fund 18,799
Enron Corp. Common Stock 6
Entrx Corp. Common Stock 82
Ericcson LM Telephone Co. Common Stock 68
Federal Mogul Corp. Common Stock 1,199
Ford Motor Co. Common Stock 958
Fremont Investment Advisors Fremont U.S. Micro-Cap Fund 8,292
Gabelli Funds Gabelli Gold Fund 9,905
Gabelli Funds Gabelli Small Cap Growth Fund 8,961
Gabelli Funds Gabelli Growth Fund 4,357
Genetech Inc. Common Stock 2,005
General Electric Common Stock 1,482
General Motors Common Stock 1,279
Genesis Microchip Inc. Common Stock 23,083
Genetronics Biomedical Ltd. Common Stock 1,680
Global Crossing Ltd. Common Stock 47
Goodyear Tire & Rubber Common Stock 660
Halliburton Co. Common Stock 3,128
Home Depot Inc. Common Stock 3,566
ICN Pharmaceuticals, Inc. Common Stock 1,130
Icon Funds Icon Information Technology Fund 6,995
Intel Corp. Common Stock 7,134
Interliant Inc. Common Stock 2
JDS Uniphase Corp. Common Stock 5,020
Janus Funds Janus Growth and Income Fund 8,446
Kmart Corp. Common Stock 1,210
Kaire Holdings Inc. Common Stock 14
Krispy Kreme Doughnuts Inc. Common Stock 6,600
LTV Corp. Common Stock 12
LSI Logic Corp. Common Stock 1,015
LA Quinta Corp. Common Stock 43,456
Leap Wireless International Inc. Common Stock 25
MTR Gaming Group Inc. Common Stock 321
McData Corp. Class B Common Stock 578
Medical Action Industries, Inc. Common Stock 3,242
Meridian Funds Meridian Value Fund 4,531
10
WESCO DISTRIBUTION, INC.
RETIREMENT SAVINGS PLAN
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
EIN 25-1723345, PLAN NUMBER 001
DECEMBER 29, 2002 SCHEDULE H, LINE 4i
--------------------------------------------------------------------------------
FAIR
ISSUER DESCRIPTION VALUE
Metro One Telecommunications, Inc. Common Stock 161
Microsoft Corp. Common Stock 7,363
Microtone Inc. Common Stock 163
Motorola Inc. Common Stock 1,710
Neuberger Berman Neuberger Berman Genesis Trust Fund 4,868
Net Bank Inc. Common Stock 2,805
Nextel Communications Inc. Common Stock 604
Nisource Inc. Common Stock 212
Nokia Corp. Common Stock 3,888
Nortel Networks Corp. New Common Stock 65
Novatel Wireless, Inc. Common Stock 126
N2H2 Inc. Common Stock 17
Nvidia Corp. Common Stock 478
Oakmark Funds Harris Associates Oakmark I Fund 8,445
Oracle Corp. Common Stock 9,711
Owens Corning Comm Common Stock 135
PCM Global Health D Common Stock 4,546
PNC Financial Services Group Common Stock 5,252
Panera Bread Co. Class A Common Stock 4,237
Paychex Inc. Common Stock 5,472
Philip Morris Cos Common Stock 2,066
Photoworks, Inc. Common Stock 13
Pimco Funds Pimco Total Return Fund 9,379
Polymedica Corp. Common Stock 41,491
Purchase Pro.Com Inc. Common Stock -
Quadramed Corporation Common Stock 354
Qualcomm Inc. Common Stock 5,591
RBB Family RBB Boston Partners Mid Cap Value Fund 7,439
RBB Family RBB Boston Partners Large Capital Value Fund 4,235
Ralcorp. Holdings Inc. Common Stock 1,225
Real Networks Inc. Common Stock 378
Reliant Resources Inc. Common Stock 12,735
T Rowe Price Funds T Rowe Price Capital Appreciation Fund 14,825
T Rowe Price Funds T Rowe Price GNMA Fund 4,621
RSA Sec. Inc. Common Stock 599
Shaw Group Inc. Common Stock 1,639
Siebel Systems Common Stock 1,140
Solomon Alliance Group Common Stock 40
Sprint Corp. PCS Group Common Stock 452
Storage Com Common Stock 840
Savvis Communications Corp. Common Stock 40
Starrett L S Company Common Stock 845
11
WESCO DISTRIBUTION, INC.
RETIREMENT SAVINGS PLAN
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
EIN 25-1723345, PLAN NUMBER 001
DECEMBER 29, 2002 SCHEDULE H, LINE 4i
--------------------------------------------------------------------------------
FAIR
ISSUER DESCRIPTION VALUE
Sun Microsystems Inc. Common Stock 3,900
Taiwan Semiconductor
Manufacturing Co. Common Stock 558
Take-2 Interactive Sft Common Stock 2,403
Tellabs Inc. Common Stock 1,412
Teragloralcom Corp. Common Stock -
Texas Instruments Inc. Common Stock 3,058
Torch Offshore, Inc. Common Stock 5,200
Triquint Semiconductor Inc. Common Stock 662
Tyco International Ltd Common Stock 607
USG Corporation Common Stock 1,736
Ultra Petroleum Corp. Common Stock 14,400
United Energy Corp. Common Stock 31,200
US AIR Group Common Stock 671
Uromed Corp. Common Stock 1
VA Software Corporation Common Stock 1,030
Vanguard Group Vanguard Income Fund 10,980
Vanguard Group Vanguard Wellesley Income Fund 11,098
Vanguard Group Vanguard GNMA Portfolio Fund 3,901
Veritas Software Common Stock 829
Wal-Mart Stores Inc. Common Stock 4,916
Muhlenkamp Fund Wexford Muhlenkamp Fund 8,124
William Cos Common Stock 110
Worldcom, Inc. Common Stock 152
American Express Financial* AXP European Equity Fund (Class Y) 6,484
Fremont Funds Fremont Mutual Funds Inc. 8,292
Harbor Fund Harbor International Fund Inst. 10,134
Harbor Fund Harbor Bond Institutional Class Fund 5,325
Oakmark Funds Oakmark Equity and Income Fund (1) 20,198
PIMCO Funds PIMCO FDS Multi Manager Ser. 4,370
Dresdner RCM Global Investors RCM Global Health D. 4,546
The Reserve Funds Reserve Fund Inc. CL A 223,158
Third Avenue Funds Third Ave Tr. 7,494
Thompson Plumb and Associates Thompson Plumb Funds Inc. 4,118
Weitz Funds Weitz Partners Value Fund 11,123
Weitz Funds Weitz Ser. Fund Inc. 2,500
------------
$191,073,232
============
*Denotes party-in-interest.
12
EXHIBITS
The following exhibits are filed or incorporated as part of this report:
Exhibit
Number Description
------- -----------
23.01 Consent of PricewaterhouseCoopers LLP (filed herewith)
99.1 Certification Pursuant to 18 U.S.C. Section 1350, as
Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act
of 2002 (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 25, 2003 By: /s/ Stephen A. Van Oss
---------------------------
Stephen A. Van Oss
Chairman, Administrative Committee
13