Company: WKC
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0000789460-25-000019
Chunk: 57

Company: WORLD KINECT CORP
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 1
Chunk 57
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 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 $6.0 million during the three months ended June 30, 2025, composed of severance and other transition costs. We expect to recognize an additional $15.0 million in transition costs and one-time charges associated with the planned initiatives during the second half of 2025 and the year ending December 31, 2026.Rollforward of Restructuring and Exit Activity AccrualsThe following table provides a summary of our accruals for severance and other compensation cost activities as well as other transition costs as part of current and previously completed restructuring plans and other exit activities (in millions):AviationLandMarineCorporateConsolidatedAccrued charges as of December 31, 2024$— $1.7 $— $0.3 $2.0 Restructuring and exit activity charges4.8 8.4 0.8 7.0 21.0 Paid during the period(0.7)(5.2)(0.2)(3.9)(10.1)Accrued charges as of June 30, 2025$4.1 $4.9 $0.6 $3.4 $12.9 

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Item 2.     Management's Discussion and Analysis of Financial Condition and Results of Operations

The following discussion should be read in conjunction with our 2024 10-K Report and the unaudited Condensed Consolidated Financial Statements and related Notes in Item 1 – Financial Statements of this 10-Q Report. A reference to a "Note" herein refers to the accompanying Notes to the Condensed Consolidated Financial Statements contained in Item 1 – Financial Statements. The following discussion may contain forward-looking statements, and our actual results may differ materially from the results suggested by these forward-looking statements. Some factors that may cause our results to differ are disclosed in Item 1A – Risk Factors of our 2024 10-K Report.

Forward-Looking Statements

This 10-Q Report and the information incorporated by reference in it, or made by us in other reports, filings with the U.S. Securities and Exchange Commission (the "SEC"), press releases, teleconferences, industry conferences or otherwise, contain "forward-looking statements" within the meaning of the Private Securities Lit