Company: WKC
Filing Date: 2025-04-25
Form Type: 10-Q
Source: 0001628280-25-019852
Chunk: 37

Company: WORLD KINECT CORP
Filing Date: 2025-04-25
Form: 10-Q
Item: Part I, Item 1
Chunk 37
---
gregated RevenueThe following table presents our revenues from contracts with customers disaggregated by major geographic areas in which we conduct business (in millions):For the Three Months Ended March 31,20252024Aviation$263.3 $298.1 Land25.9 63.2 Marine860.5 1,083.8 Asia Pacific1,149.6 1,445.1 Aviation844.7 916.1 Land734.5 896.5 Marine419.8 545.9 EMEA1,999.0 2,358.5 Aviation1,031.4 1,091.6 Land— 247.2 Marine255.8 265.5 LATAM1,287.2 1,604.2 Aviation2,502.3 2,830.3 Land2,094.4 2,295.7 Marine395.7 494.2 North America4,992.3 5,620.2 Other revenues (excluded from ASC 606) (1)24.4 (76.6)Total revenue$9,452.5 $10,951.4 (1)    Includes revenue from derivatives, leases, and other transactions that we account for under separate guidance.Accounts Receivable, Contract Assets and Contract LiabilitiesThe nature of the receivables related to revenue from contracts with customers and other types of contracts (excluded from ASC 606) are substantially similar, as they are both generated from transactions with the same type of counterparties (e.g., sale of fuel and storage that meet the definition of a lease with the same counterparty) and are entered into utilizing the same credit approval and monitoring procedures for all customers. As such, we believe the risk associated with the cash flows from the different types of receivables is not meaningful to separately disaggregate the accounts receivable balance presented on our Condensed Consolidated Balance Sheets. As of March 31, 2025 and December 31, 2024, the contract assets and contract liabilities recognized by the Company were not material.

16

11. Income TaxesOur income tax provision and the respective effective income tax rates are as follows (in millions, except for income tax rates):For the Three Months Ended March 31,20252024Provision for income taxes$(6.8)$3.3 Effective income tax