Company: WKC
Filing Date: 2025-04-25
Form Type: 10-Q
Source: 0001628280-25-019852
Chunk: 27

Company: WORLD KINECT CORP
Filing Date: 2025-04-25
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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 fluctuations and for portfolio optimization.

7

The following table summarizes the gross notional values of our derivative contracts used for risk management purposes (in millions):UnitMarch 31, 2025Commodity contractsLongBBL77.4 ShortBBL(79.0)Foreign currency exchange contractsSell U.S. dollar, buy other currenciesUSD(540.4)Buy U.S. dollar, sell other currenciesUSD661.5 The majority of our foreign currency exchange contracts and the volume related to our commodities contracts are expected to settle within the next twelve months.

Assets and LiabilitiesThe following table presents the gross fair value of our derivative instruments and their locations on the Condensed Consolidated Balance Sheets (in millions):Condensed Consolidated Balance Sheets LocationGross Derivative AssetsGross Derivative LiabilitiesDerivative InstrumentsMarch 31, 2025December 31, 2024March 31, 2025December 31, 2024Derivatives designated as hedging instrumentsCommodity contractsShort-term derivative assets, net$— $4.0 $— $3.5 Short-term derivative liabilities, net14.3 13.9 17.8 18.9 Interest rate contractsShort-term derivative assets, net— 2.9 — — Total derivatives designated as hedging instruments14.3 20.8 17.8 22.4 Derivatives not designated as hedging instrumentsCommodity contractsShort-term derivative assets, net265.5 230.8 86.6 65.7 Other non-current assets66.1 69.4 11.2 20.5 Short-term derivative liabilities, net100.7 86.7 207.4 174.4 Other long-term liabilities58.8 62.8 91.9 95.6 Foreign currency contractsShort-term derivative assets, net3.0 23.3 2.1 15.1 Other non-current assets— 0.7 — 0.3 Short-term derivative liabilities, net10.3 5.1 18.7 6.9 Other long-term liabilities0.2 0.1 0.4 0.6 Total derivatives not designated as hedging instruments504.7 478.9 418.2 379.2 Total derivatives$518.9 $499.6 $436.1