Company: WKC
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0000789460-25-000019
Chunk: 102

Company: WORLD KINECT CORP
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 8
Chunk 102
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 value hierarchy.

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Recurring Fair Value MeasurementsThe following tables present information about our gross assets and liabilities that are measured at fair value on a recurring basis (in millions):Fair Value Measurements as of June 30, 2025Level 1 InputsLevel 2 InputsLevel 3 InputsTotalAssets:Commodities contracts$144.6 $241.8 $15.4 $401.8 Foreign currency contracts— 20.3 — 20.3 Cash surrender value of life insurance— 19.8 — 19.8 Total assets at fair value$144.6 $282.0 $15.4 $441.9 Liabilities:    Commodities contracts$169.5 $138.2 $10.5 $318.2 Foreign currency contracts— 32.9 — 32.9 Total liabilities at fair value$169.5 $171.0 $10.5 $351.0 Fair Value Measurements as of December 31, 2024Level 1 InputsLevel 2 InputsLevel 3 InputsTotalAssets:Commodities contracts$157.4 $300.8 $9.4 $467.6 Interest rate contract— 2.9 — 2.9 Foreign currency contracts— 29.1 — 29.1 Cash surrender value of life insurance— 20.0 — 20.0 Total assets at fair value$157.4 $352.8 $9.4 $519.6 Liabilities:Commodities contracts$165.9 $209.1 $3.7 $378.7 Foreign currency contracts— 22.9 — 22.9 Total liabilities at fair value$165.9 $232.0 $3.7 $401.6 For our derivative contracts, we may enter into master netting, collateral and offset agreements with counterparties. These agreements provide us the ability to offset a counterparty's rights and obligations, request additional collateral when necessary, or liquidate the collateral in the event of counterparty default. We net the fair value of cash collateral paid or received against fair value amounts recognized for net derivative positions executed with the same counterparty under the same master netting or offset agreement.

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We have elected to offset the recognized fair value amounts for multiple derivative instruments