Company: WKC
Filing Date: 2025-04-25
Form Type: 10-Q
Source: 0001628280-25-019852
Chunk: 55

Company: WORLD KINECT CORP
Filing Date: 2025-04-25
Form: 10-Q
Item: Part I, Item 1
Chunk 55
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 impacted for these reasons.

See Note 2. Accounts Receivable for additional information.

Future Uses of Liquidity

Cash is primarily used to fund working capital to support our operations as well as for strategic acquisitions and investments. There were no material changes in our expected future uses of liquidity from December 31, 2024 to March 31, 2025. For a discussion of these matters, refer to "Liquidity and Capital Resources" under Part II, Item 7 – Management's Discussion and Analysis of Financial Condition and Results of Operations of our 2024 10-K Report.

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Cash Flows

The following table reflects the major categories of cash flows for the three months ended March 31, 2025 and 2024 (in millions). For additional details, please see the unaudited Condensed Consolidated Statements of Cash Flows in this Quarterly Report on Form 10-Q.

For the Three Months Ended March 31,20252024Net cash provided by (used in) operating activities$114.4 $110.2 Net cash provided by (used in) investing activities(5.8)(16.9)Net cash provided by (used in) financing activities(32.4)(64.3)

Operating Activities. For the three months ended March 31, 2025, net cash provided by operating activities was $114.4 million, compared to $110.2 million net cash provided during the three months ended March 31, 2024. The $4.1 million increase in operating cash flows was principally due to increased cash provided by our RPA activity, as well as cash provided by the collection of transaction tax refunds during the three months ended March 31, 2025. These increases were offset by cash used in our derivative activities driven by increased collateral requirements as well a decrease in our net income adjusted for noncash items (see "Results of Operations" for further details of the drivers impacting our net income).

Investing Activities. For the three months ended March 31, 2025, net cash used in investing activities was $5.8 million, compared to net cash used of $16.9 million during the three months ended March 31, 2024. The net cash used in investing activities for the three months ended March 31, 2025 was primarily driven by capital expenditures of $15.2 million, partially offset by $9.3 million of cash received from the net repayment of