Company: WKC
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001628280-25-007620
Chunk: 81

Company: WORLD KINECT CORP
Filing Date: 2025-02-25
Form: 10-K
Item: Item 15
Chunk 81
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, accounts payable and accrued expenses and other current liabilities approximate fair value based on their short-term maturities. With the exception of the Convertible Notes, as discussed in Note 8. Debt, Interest Income, Expense, and Other Finance Costs, the carrying values of our debt and notes receivable approximate fair value as these instruments bear interest either at variable rates or fixed rates, which are not significantly different from market rates. The fair value measurements for our debt and notes receivable are considered to be Level 2 measurements based on the fair value hierarchy.

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 December 31, 2024Level 1 InputsLevel 2 InputsLevel 3 InputsTotal Fair ValueAssets: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 Fair Value Measurements as of December 31, 2023Level 1 InputsLevel 2 InputsLevel 3 InputsTotal Fair ValueAssets:Commodities contracts$220.0 $560.2 $11.6 $791.8 Interest rate contract— 14.8 — 14.8 Foreign currency contracts— 34.1 — 34.1 Cash surrender value of life insurance— 16.5 — 16.5 Total assets at fair value$220.0 $625.6 $11.6 $857.3 Liabilities:Commodities contracts$322.1 $345.3 $1.8 $669.1 Foreign currency contracts— 28.7 — 28.7 Total liabilities at fair value$322.1