Company: WKC
Filing Date: 2025-10-24
Form Type: 10-Q
Source: 0000789460-25-000030
Chunk: 111

Company: WORLD KINECT CORP
Filing Date: 2025-10-24
Form: 10-Q
Item: Part I, Item 8
Chunk 111
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 Ended September 30,For the Nine Months Ended September 30,2025202420252024Provision for income taxes$10.7 $14.6 $(105.8)$27.6 Effective income tax rate27.5 %29.5 %24.1 %14.0 %Our provision for income taxes for the three months ended September 30, 2025 includes a net discrete income tax benefit of $1.0 million, of which a tax benefit of $2.3 million primarily relates to return-to-provision and other adjustments for both domestic and foreign tax returns, partially offset by a tax expense of $1.3 million related to the changes in our reserves for uncertain tax positions.Our provision for income taxes for the three months ended September 30, 2024 includes a net discrete income tax expense of $2.9 million, of which a tax expense of $2.1 million relates to the tax on gain on sale of Avinode and a tax expense of $1.6 million relates to return-to-provision adjustments, partially offset by a net tax benefit of $0.7 million primarily related to changes in our reserve for uncertain tax positions.Our provision for income taxes for the nine months ended September 30, 2025 includes a net discrete income tax benefit of $12.8 million, of which a tax benefit of $17.4 million relates to the Watson Fuels sale and related asset impairment charges and a net tax benefit of $2.4 million relates to changes in our reserves for uncertain tax positions and the resolution of various worldwide tax matters, partially offset by a tax expense of $2.6 million related to a valuation allowance recorded against the deferred tax assets of a foreign subsidiary and a net tax expense of $4.5 million related to return-to-provision and other adjustments.Our provision for income taxes for the nine months ended September 30, 2024 includes a net discrete income tax expense of $2.7 million, of which a tax expense of $11.2 million relates to the tax on gain on sale of Avinode, partially offset by a net tax benefit of $9.2 million related to changes in our reserve for uncertain tax positions.Our income tax provisions for the three and nine months ended September 30, 2025 and 2024 were calculated based on the estimated annual effective income tax rates for the 2025 and 2024 years, respectively