Company: WKC
Filing Date: 2025-04-25
Form Type: 10-Q
Source: 0001628280-25-019852
Chunk: 42

Company: WORLD KINECT CORP
Filing Date: 2025-04-25
Form: 10-Q
Item: Part I, Item 1
Chunk 42
---
. As a result, we recognized restructuring charges of $15.0 million during the three months ended March 31, 2025, composed principally of severance costs.Rollforward of Restructuring and Exit Activity AccrualsThe following table provides a summary of our severance and other compensation cost activities as part of current and previously completed restructuring plans and other exit activities (in millions):AviationLandMarineCorporateConsolidatedAccrued charges as of December 31, 2024$— $1.7 $— $0.3 $2.0 Restructuring and exit activity charges2.2 7.3 0.4 5.2 15.0 Paid during the period(0.5)(3.3)(0.2)(1.0)(4.9)Accrued charges as of March 31, 2025$1.6 $5.7 $0.3 $4.5 $12.1 

20

Item 2.     Management's Discussion and Analysis of Financial Condition and Results of Operations

The following discussion should be read in conjunction with our 2024 10-K Report and the unaudited Condensed Consolidated Financial Statements and related Notes in Item 1 – Financial Statements of this 10-Q Report. A reference to a "Note" herein refers to the accompanying Notes to the Condensed Consolidated Financial Statements contained in Item 1 – Financial Statements. The following discussion may contain forward-looking statements, and our actual results may differ materially from the results suggested by these forward-looking statements. Some factors that may cause our results to differ are disclosed in Item 1A – Risk Factors of our 2024 10-K Report.

Forward-Looking Statements

This 10-Q Report and the information incorporated by reference in it, or made by us in other reports, filings with the U.S. Securities and Exchange Commission (the "SEC"), press releases, teleconferences, industry conferences or otherwise, contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain the words "believe," "anticipate," "expect," "estimate," "project," "could," "would," "will," "will be," "will continue," "plan