Company: WKC
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001628280-25-007620
Chunk: 115

Company: WORLD KINECT CORP
Filing Date: 2025-02-25
Form: 10-K
Item: Item 15
Chunk 115
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420232022Revenue:United States$20,905.1 $25,403.7 $32,901.7 EMEA (1)9,672.9 10,003.2 12,396.1 Asia Pacific (2)5,366.0 5,430.7 7,076.6 Americas, excluding United States6,224.0 6,873.0 6,668.6 Total (3)$42,168.0 $47,710.6 $59,043.1 As of December 31,20242023Property and equipment, net:United States$325.2 $324.8 EMEA141.4 147.7 Asia Pacific10.3 10.1 Americas, excluding United States36.4 32.7 Total$513.3 $515.3 (1)Includes revenue related to the U.K. of $4.8 billion, $5.3 billion and $6.7 billion for 2024, 2023 and 2022, respectively.(2)Includes revenue related to Singapore of $5.3 billion, $5.3 billion and $7.2 billion for 2024, 2023 and 2022, respectively.(3)Geographic revenue information in this table includes impacts from derivatives and hedging activities, which are excluded from that geographic revenue information presented at Note 10. Revenue from Contracts with Customers.

Major CustomersFor the years ended December 31, 2024, 2023, and 2022, none of our customers accounted for more than 10% of total consolidated revenue.

16. Restructuring and Exit Activities2024 Exit ActivitiesDuring the fourth quarter of 2024, we decided to take actions to exit certain operations, including the rationalization of certain assets and associated personnel within our North American land business as well as the disposal of our subsidiaries in Brazil. As a result of the actions taken in 2024, during the three months ended December 31, 2024, we recognized asset impairment charges of $3.1 million, wrote off accounts receivable totaling $4.4 million, and recognized additional charges for severance and other compensation costs of $1.4 million.2023 Restructuring PlanIn November 2023, we approved and began implementing a restructuring plan (the "2023 Restructuring Plan")