Company: WKC
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001628280-25-007620
Chunk: 76

Company: WORLD KINECT CORP
Filing Date: 2025-02-25
Form: 10-K
Item: Item 15
Chunk 76
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Inventory50.9 Property, plant and equipment126.6 Identifiable intangible assets subject to amortization (2)162.5 Identifiable intangible assets not subject to amortization (3)29.3 Accounts payable(38.0)Other assets and liabilities, net (4)(37.3)Net identifiable assets acquired407.0 Goodwill (5)388.0 Net assets acquired$795.0 (1)As of December 31, 2024, the amount due to sellers has been paid in full and no amount remains outstanding. (2)Identifiable intangible assets subject to amortization primarily consist of customer and network relationships and other identifiable assets which will be amortized over a weighted average life of 11.6 years.(3)Identifiable intangible assets not subject to amortization include trademarks and trade names acquired.(4)Includes the recognition of right of use assets of $45.0 million and lease liabilities of $46.0 million.(5)Goodwill is attributable primarily to the expected synergies and other benefits that we believe will result from combining the acquired operations with the operations of our land segment. All of the goodwill assigned to the land segment was deductible for tax purposes.Total revenue and income before income taxes of Flyers included in the Company's Consolidated Statement of Income and Comprehensive Income for the period from the date of acquisition through December 31, 2022 were $3.4 billion and $71.2 million, respectively.

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Table of Contents

4. Derivative InstrumentsWe are exposed to a variety of risks, including, but not limited to, changes in the prices of commodities that we buy or sell, changes in foreign currency exchange rates, changes in interest rates, and the creditworthiness of each of our counterparties. While we attempt to mitigate these fluctuations through hedging, such hedges may not be fully effective.Our risk management program includes the following types of derivative instruments: Fair Value Hedges. Derivative contracts we hold to hedge the risk of changes in the price of our inventory.Cash Flow Hedges. Derivative contracts we execute to mitigate the risk of price and interest rate volatility in forecasted transactions.Non-designated Derivatives. Derivatives we primarily transact to mitigate the risk of market price fluctuations in swaps or futures contracts, as well as certain forward fixed price purchase and sale contracts to hedge the risk of currency rate fluctuations and for portfolio optimization.The following table summarizes the gross notional values of our derivative contracts used