Company: WKC
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001628280-25-007620
Chunk: 86

Company: WORLD KINECT CORP
Filing Date: 2025-02-25
Form: 10-K
Item: Item 15
Chunk 86
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Under 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.The rollforward of our outstanding obligations confirmed under our supplier finance programs, included in Accounts payable within our Consolidated Balance Sheets, is as follows (in millions):2024Confirmed obligations outstanding as of January 1,$198.8 Obligations confirmed during the period1,213.1 Confirmed invoices paid during the period(1,243.1)Confirmed obligations outstanding as of December 31,$168.8 

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Table of Contents

8. Debt, Interest Income, Expense, and Other Finance Costs

Long-Term DebtOur outstanding debt consists of the following (in millions):As of December 31,20242023Credit Facility$— $— Term Loan455.3 476.4 Convertible Notes (1)340.9 338.5 Finance leases (2)29.9 15.7 Other (3)54.7 57.3 Total debt880.8 887.9 Less: Current maturities of long-term debt and finance leases84.0 78.8 Long-term debt$796.8 $809.1 (1)As of December 31, 2024 and 2023 the net carrying amount of the Convertible Notes includes the aggregate principal amount of $350.0 million, net of unamortized debt issuance costs of $9.1 million and $11.5 million, respectively. The fair value of the Convertible Notes was estimated to be approximately $395.7 million and $354.1 million as of December 31, 2024 and 2023, respectively, using the Level 2 observable input of quoted market prices in an inactive market.(2)See Note 14. Leases for additional information.(3)Includes secured borrowings for the transfer of tax receivables of $50.3 million (EUR 48.5 million) and $53.6 million (EUR 48.5 million) as of December 31, 2024 and 2023, respectively.Annual MaturitiesAs of December 31, 2024, the aggregate annual maturities of debt are as follows (in millions):Year Ended December