Company: WKC
Filing Date: 2025-10-24
Form Type: 10-Q
Source: 0000789460-25-000030
Chunk: 117

Company: WORLD KINECT CORP
Filing Date: 2025-10-24
Form: 10-Q
Item: Part I, Item 8
Chunk 117
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.0 Basic earnings (loss) per common share$0.46 $0.57 $(5.95)$2.84 Diluted earnings (loss) per common share$0.46 $0.57 $(5.95)$2.82 Weighted average securities which are not included in the calculation of diluted earnings per common share because their impact is anti-dilutive or their performance conditions have not been met1.2 1.2 1.6 1.1 

15. Restructuring and Exit Activities2025 Restructuring PlanDuring the first quarter of 2025, in alignment with the efforts to rationalize our assets and operations, we began a company-wide transformation initiative designed to further streamline our operating model and enhance organizational efficiency and effectiveness (the "2025 Restructuring Plan"). As part of this initiative, we undertook cost management actions in response to the current and projected business needs, including the closure of certain open positions and the elimination of other roles to better align the workforce with our current strategic priorities. As a result, we recognized restructuring charges of $15.0 million during the three months ended March 31, 2025, composed principally of severance costs.As a component of this company-wide transformation initiative, in June 2025, we launched a program intended to optimize our global finance and accounting operations. We expect to complete the transition activities associated with the global finance and accounting optimization in the fourth quarter of 2026. As a result, we recognized restructuring charges of $10.9 million during the second and third quarters of 2025, comprised of severance and other transition costs. We expect to recognize an additional $10.1 million in transition costs and one-time charges associated with the planned initiatives during the fourth quarter of 2025 and the year ending December 31, 2026.Rollforward of Restructuring and Exit Activity AccrualsThe following table provides a summary of our accruals for severance and other compensation cost activities as well as other transition costs as part of current and previously completed restructuring plans and other exit activities (in millions):AviationLandMarineCorporateConsolidatedAccrued charges as of December 31, 2024$— $1.7 $— $0.3 $2.0 Restructuring and exit activity charges5.3 9.6 0.6 10.4 25.9 Paid during the