Company: WKC
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001628280-25-007620
Chunk: 80

Company: WORLD KINECT CORP
Filing Date: 2025-02-25
Form: 10-K
Item: Item 15
Chunk 80
---
0 11.3 Total gain (loss)$3.1 $2.4 $(101.3)Amount of Gain (Loss) Reclassified from Accumulated other comprehensive income (loss) into Net income (loss), Net of Income Tax (Expense) BenefitYear Ended December 31,Location202420232022Commodity contractsRevenue$(2.5)$0.2 $(121.7)Commodity contractsCost of revenue4.4 — 1.9 Interest rate contractsInterest expense and other financing costs, net10.7 10.3 (3.1)Total gain (loss)$12.6 $10.5 $(122.9)Derivatives Not Designated as Hedging InstrumentsThe following table presents the amount and financial statement location in our Consolidated Statements of Income and Comprehensive Income of realized and unrealized gains (losses) recognized on derivative instruments not designated as hedging instruments (in millions):Derivative Instruments - Non-designatedLocationYear Ended December 31,202420232022Commodity contractsRevenue$(126.2)$(190.5)$230.7 Cost of revenue21.4 (41.4)0.6 (104.8)(231.9)231.3 Foreign currency contractsRevenue(0.5)(8.0)(1.7)Other income (expense), net(2.4)2.3 3.3 (2.9)(5.6)1.6 Total gains (losses)$(107.7)$(237.5)$232.9 

Credit-Risk-Related Contingent FeaturesWe enter into derivative contracts which may require us to post collateral periodically. Certain of these derivative contracts contain credit-risk-related contingent clauses which are triggered by credit events, such as a credit downgrade or if certain defined financial ratios fall below an established threshold. The occurrence of these credit events may require us to post additional collateral or immediately settle the derivative instrument.The following table presents the potential collateral requirements for derivative liabilities with credit-risk-related contingent features (in millions):As of December 31,20242023Net derivative liability positions with credit contingent features$40.9 $99.1 Collateral posted and held by our counterparties— — Maximum additional potential collateral requirements$40.9 $99.1 

63

Table of Contents

5. Fair Value MeasurementsThe carrying amounts of cash and cash equivalents, net accounts receivable