Company: WKC
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0000789460-25-000019
Chunk: 77

Company: WORLD KINECT CORP
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 1
Chunk 77
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. The $35.5 million decrease in operating cash flows was principally due to cash used in our derivative activities driven by increased collateral requirements, income tax payments, and a decrease in our net income adjusted for noncash items (see "Results of Operations" for further details of the drivers impacting our net income. These decreases were partially offset by increased cash provided by our RPA activity, as well as cash provided by the collection of transaction tax refunds during the six months ended June 30, 2025.

Investing Activities. For the six months ended June 30, 2025, net cash used in investing activities was $4.8 million, compared to net cash provided of $163.8 million during the six months ended June 30, 2024. The net cash used in investing activities for the six months ended June 30, 2025 was primarily driven by capital expenditures of $30.1 million and asset acquisitions of $13.0 million, partially offset by $23.4 million net proceeds from the Watson Sale and $18.0 million of cash received from the net repayment of notes receivable. Net cash provided by investing activities for the six months ended June 30, 2024 was primarily driven by net proceeds of $200.4 million from the Avinode sale, as discussed in Note 3. Acquisitions and Divestitures, partially offset by capital expenditures of $32.1 million.

Financing Activities. For the six months ended June 30, 2025, net cash used in financing activities was $131.1 million compared to net cash used of $114.7 million for the six months ended June 30, 2024. The net cash used in financing activities for the six months ended June 30, 2025 was principally attributable to net repayments of debt of $58.8 million driven by the repayment of secured borrowings associated with the transfer of transaction taxes as well as net repayments under our Credit Facility, repurchases of common stock of $45.0 million, and dividend payments of $19.2 million. Net cash used in financing activities for the six months ended June 30, 2024 was primarily attributable to payments of deferred consideration related to prior acquisitions of $50.9 million, repurchases of common stock of $29.1 million, dividend payments of $18.5 million, and net repayments under our Credit Facility of $9.4 million.

Critical Accounting Estimates

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