Company: WKC
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0000789460-25-000019
Chunk: 52

Company: WORLD KINECT CORP
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 1
Chunk 52
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 ultimate resolution or payments that may be required cannot be determined at this time.

13. Business SegmentsWe operate in three reportable segments consisting of aviation, land and marine. Our operating segments are determined based on the different markets in which we provide products and services, which are defined primarily by the customers (businesses and governmental) and the products and services provided to those customers. 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.

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Information concerning our revenue, significant segment expenses, and income from operations by segment is as follows (in millions):For the Three Months Ended June 30, 2025AviationLandMarineTotalRevenue$4,725.1 $2,425.0 $1,893.2 $9,043.3 Segment expenses:Cost of revenue(4,587.1)(2,357.6)(1,866.1)(8,810.9)Compensation and related costs(29.0)(34.9)(8.2)(72.1)Incentive compensation(6.6)(2.6)(2.2)(11.4)Corporate allocations (1)(9.6)(3.8)(5.3)(18.6)Depreciation and amortization(4.1)(8.8)(0.3)(13.1)Provision for credit losses(1.1)(0.5)— (1.6)Goodwill and other asset impairments— (367.0)(31.6)(398.6)Restructuring charges(2.6)(1.2)(0.3)(4.1)Other segment expenses (2)(13.3)(15.5)(4.7)(33.6)Operating income - segment profit (loss)71.7 (366.9)(25.6)(320.8)Unallocated corporate expenses (3)(24.2)Interest expense and other financing costs, net(25.7)Other income (expense), net(78.0)Income (loss) before income taxes$(448.7)For the Six Months Ended June 30, 2025AviationLandMarineTotalRevenue$9,379.3 $5,290.3 $3,826.1 $18,495.8 Segment expenses:Cost