Company: WKC
Filing Date: 2025-04-25
Form Type: 10-Q
Source: 0001628280-25-019852
Chunk: 87

Company: WORLD KINECT CORP
Filing Date: 2025-04-25
Form: 10-Q
Item: Part I, Item 8
Chunk 87
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. We use Income from operations as our primary measure of segment profit. Corporate expenses are allocated to the segments based on usage, where possible, or on other factors according to the nature of the activity.

17

Information concerning our revenue, significant segment expenses, and income from operations by segment is as follows (in millions):For the Three Months Ended March 31, 2025AviationLandMarineTotalRevenue$4,654.2 $2,865.4 $1,932.9 $9,452.5 Segment expenses:Cost of revenue(4,538.5)(2,786.3)(1,897.2)(9,222.1)Compensation and related costs(27.2)(39.8)(8.2)(75.1)Incentive compensation(3.8)(1.0)(1.1)(5.9)Corporate allocations (1)(9.2)(4.0)(5.1)(18.2)Depreciation and amortization(4.3)(9.1)(0.3)(13.7)Provision for credit losses(1.3)(1.3)— (2.6)Asset impairments— (44.5)— (44.5)Restructuring charges(2.2)(7.3)(0.4)(9.9)Other segment expenses (2)(11.6)(17.5)(5.8)(34.9)Operating income - segment profit (loss)56.2 (45.3)14.8 25.7 Unallocated corporate expenses (3)(32.3)Interest expense and other financing costs, net(22.9)Other income (expense), net1.3 Income (loss) before income taxes$(28.1)For the Three Months Ended March 31, 2024AviationLandMarineTotalRevenue$5,144.2 $3,416.6 $2,390.5 $10,951.4 Segment expenses:Cost of revenue(5,035.8)(3,319.3)(2,342.2)(10,697.3)Compensation and related costs(31.0)(44.1)(8.0)(83.1)Incentive compensation(4.5)(1.0)(2.7)(8.2)Corporate allocations (1)(9.4)(4.2