Company: WKC
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0000789460-25-000019
Chunk: 46

Company: WORLD KINECT CORP
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 1
Chunk 46
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 million, respectively. As of June 30, 2025 and December 31, 2024, the fair value of the Convertible Notes was estimated to be approximately $403.2 million and $395.7 million, respectively, using the Level 2 observable input of quoted market prices in an inactive market.(3)Includes secured borrowings for the transfer of tax receivables of $14.1 million (EUR 12.0 million) and $50.3 million (EUR 48.5 million) as of June 30, 2025 and December 31, 2024, respectively.

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Interest Income, Expense, and Other Financing CostsThe following table provides additional information about our Interest income (expense), and other financing costs, net (in millions):For the Three Months Ended June 30,For the Six Months Ended June 30,2025202420252024Interest income$2.6 $1.7 $6.3 $3.7 Interest expense and other financing costs(28.2)(29.2)(54.8)(60.0)Interest expense and other financing costs, net$(25.7)$(27.5)$(48.5)$(56.4)

9. Commitments and ContingenciesOn November 23, 2023, one of our subsidiaries submitted an erroneous bid in the Finnish power market. During the fourth quarter of 2023, the Company recognized related extraordinary losses totaling $48.8 million. In December 2023, the subsidiary received a request for information from Energiavirasto, the Finnish energy regulatory authority ("EA") indicating that EA had initiated an investigation in relation to the events surrounding the erroneous bid submission. We have responded to the information requests and continue to cooperate with the investigation. At this time, we are unable to predict the outcome of this investigation, including whether the investigation will result in any action or fine against us.We are also a party to various claims, complaints and proceedings arising in the ordinary course of our business including, but not limited to, environmental claims, commercial and governmental contract claims, such as property damage, demurrage, personal injury, billing and fuel quality claims, as well as bankruptcy preference claims and tax and administrative claims.From time to time, we are also under review by various domestic and foreign tax authorities regarding indirect tax matters and are involved in various challenges and litigation in a number of countries, including, in particular, South Korea, where the