Company: WKC
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001628280-25-007620
Chunk: 82

Company: WORLD KINECT CORP
Filing Date: 2025-02-25
Form: 10-K
Item: Item 15
Chunk 82
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 $373.9 $1.8 $697.8 For our derivative contracts, we may enter into master netting, collateral and offset agreements with counterparties. These agreements provide us the ability to offset a counterparty's rights and obligations, request additional collateral when necessary, or liquidate the collateral in the event of counterparty default. We net the fair value of cash collateral paid or received against fair value amounts recognized for net derivative positions executed with the same counterparty under the same master netting or offset agreement.

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Table of Contents

We have elected to offset the recognized fair value amounts for multiple derivative instruments executed with the same counterparty in our financial statements when a legal right of offset exists. The following tables summarize those derivative balances subject to the right of offset as presented on our Consolidated Balance Sheets (in millions):Fair Value as of December 31, 2024Gross Amounts RecognizedGross Amounts OffsetNet Amounts PresentedCash CollateralGross Amounts Without Right of OffsetNet AmountsAssets:Commodities contracts$467.6 $253.2 $214.4 $0.1 $— $214.3 Interest rate contract2.9 — 2.9 — — 2.9 Foreign currency contracts29.1 20.7 8.5 — — 8.5 Total assets at fair value$499.6 $273.9 $225.8 $0.1 $— $225.6 Liabilities:Commodities contracts$378.7 $253.2 $125.5 $12.1 $— $113.4 Foreign currency contracts22.9 20.7 2.3 — — 2.3 Total liabilities at fair value$401.6 $273.9 $127.8 $12.1 $— $115.6 Fair Value as of December 31, 2023Gross Amounts RecognizedGross Amounts OffsetNet Amounts PresentedCash CollateralGross Amounts Without Right of OffsetNet AmountsAssets:Commodities contracts$791.8 $399.0 $392.8 $45.2 $— $347.7 Interest rate contract14.8 — 14.8 — — 14.8 Foreign currency contracts34