Company: WKC
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0000789460-25-000019
Chunk: 105

Company: WORLD KINECT CORP
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 8
Chunk 105
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 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 June 30, 2025. See Note 4. Goodwill for additional fair value disclosures related to the goodwill impairment recognized during the three months ended June 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 $148.1 million and $168.8 million as of June 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 following (in millions):June 30, 2025December 31, 2024Credit Facility (1)$— $— Term loan (1)443.0 455.3 Convertible Notes (2)342.1 340.9 Finance leases15.8 29.9 Other (3)17.5 54.7 Total debt818.4 880.8 Less: Current maturities of long-term debt and finance leases43.2 84.0 Long-term debt$775.2 $796.8 (1)The Fourth Amended and Restated Credit Agreement matures in April 2027 and provides for a term loan as well as a revolving credit facility of up to $1.5 billion (the "Credit Facility").(2)Our 3.250% Convertible Senior Notes due 2028 (the "Convertible Notes") were issued in June 2023 and mature on July 1, 2028, unless earlier converted, redeemed or repurchased. As of June 30, 2025 and December 31, 2024, the net carrying amount of the Convertible Notes includes the aggregate principal amount of $350.0 million, net of unamortized debt issuance costs of