Company: WKC
Filing Date: 2025-10-24
Form Type: 10-Q
Source: 0000789460-25-000030
Chunk: 45

Company: WORLD KINECT CORP
Filing Date: 2025-10-24
Form: 10-Q
Item: Part I, Item 1
Chunk 45
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 using the estimated sale proceeds for the Watson Fuels sale. The measurement is 

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categorized as Level 2 within the fair value hierarchy. As discussed in Note 3. Acquisitions and Divestitures, we completed the Watson Fuels sale on April 9, 2025. During the second quarter of 2025, we identified impairment indicators with respect to the Falmouth asset group within our marine segment as well as intangible assets related to certain trade names within our land segment. We determined that the carrying amount of the Falmouth asset group was not recoverable and recognized an asset impairment charge of $31.6 million. The fair value of the asset group, excluding the related land, was determined to be nominal based on an income approach using a discounted cash flow methodology. As a result the full carrying amount of the long-lived assets, excluding the related land, was impaired. The fair value measurement is categorized as Level 3 within the fair value hierarchy. We also recognized an asset impairment charge of $8.0 million related to certain trade names as a result of steps taken to consolidate branding within our land segment. We determined that the carrying value of the assets was not recoverable and recognized a full impairment of the related intangible assets. The fair value measurement is categorized as Level 3 within the fair value hierarchy. These asset impairment charges are recorded within Goodwill and other asset impairments on the Condensed Consolidated Statements of Income and Comprehensive Income during the three months ended June 30, 2025.The fair values of nonrecurring assets or liabilities measured using Level 3 inputs were not material as of September 30, 2025. See Note 4. Goodwill for additional fair value disclosures related to the goodwill impairment recognized during the nine months ended September 30, 2025.

7. Supplier Financing ProgramsUnder various supplier finance programs, we agree to pay counterparties engaged as paying agents the stated amount of confirmed invoices from our designated suppliers on the original maturity date of the invoices. Under certain of these arrangements, we may also pay fees for the supplier finance platform and related support.Outstanding obligations confirmed under our supplier finance programs were $296.1 million and $168.8 million as of September 30, 2025 and December 31, 2024, respectively, and are included in Accounts payable within our Condensed Consolidated Balance Sheets.

8. Debt, Interest Income, Expense, and Other Finance CostsLong-Term DebtOur outstanding debt consists of the