Company: WKC
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001628280-25-007620
Chunk: 170

Company: WORLD KINECT CORP
Filing Date: 2025-02-25
Form: 10-K
Item: Item 7
Chunk 170
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 connection with their purchase of fuel and services from us, and our business, financial condition, results of operations and cash flows will be adversely affected if we are unable to collect accounts receivable," "Changes in the market prices of energy and commodities may have a material adverse effect on our business," "Our business depends on our ability to adequately finance our capital requirements and fund our investments, which, if not available to us, would impact our ability to conduct our operations," "Significant inflation and higher interest rates may adversely affect our business and financial condition," and "Our derivative transactions with customers, suppliers, merchants and financial institutions expose us to price and credit risks, which could have a material adverse effect on our business" in Item 1A. – Risk Factors within this 2024 10-K Report.

Results of Operations

Year Ended December 31, 2024 Compared to Year Ended December 31, 2023

Consolidated Results of Operations

The following provides a summary of our consolidated results of operations for the periods indicated (in millions, except per share amounts):

For the Year Ended December 31, 20242023Revenue$42,168.0 $47,710.6 Cost of revenue41,141.6 46,652.4 Gross profit1,026.4 1,058.2 Operating expenses:Compensation and employee benefits482.5 512.3 General and administrative297.1 308.0 Asset impairments29.0 32.8 Restructuring charges7.1 7.2 Total operating expenses815.7 860.2 Income (loss) from operations210.6 198.0 Non-operating income (expenses), net:Interest expense and other financing costs, net(102.2)(127.7)Other income (expense), net(12.9)(3.6)Total non-operating income (expense), net(115.1)(131.3)Income (loss) before income taxes95.5 66.7 Provision for income taxes27.6 13.0 Net income (loss) including noncontrolling interest67.9 53.7 Net income (loss) attributable to noncontrolling interest0.5 0.8 Net income (loss) attributable to World Kinect$67.4 $52.9 Basic earnings (loss) per common share$1.14 $0.86 D