Company: WKC
Filing Date: 2025-10-24
Form Type: 10-Q
Source: 0000789460-25-000030
Chunk: 103

Company: WORLD KINECT CORP
Filing Date: 2025-10-24
Form: 10-Q
Item: Part I, Item 8
Chunk 103
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.6 $312.8 Fair Value Measurements as of December 31, 2024Level 1 InputsLevel 2 InputsLevel 3 InputsTotalAssets:Commodities contracts$157.4 $300.8 $9.4 $467.6 Interest rate contract— 2.9 — 2.9 Foreign currency contracts— 29.1 — 29.1 Cash surrender value of life insurance— 20.0 — 20.0 Total assets at fair value$157.4 $352.8 $9.4 $519.6 Liabilities:Commodities contracts$165.9 $209.1 $3.7 $378.7 Foreign currency contracts— 22.9 — 22.9 Total liabilities at fair value$165.9 $232.0 $3.7 $401.6 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.

14

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 Condensed Consolidated Balance Sheets (in millions):Fair Value as of September 30, 2025Gross Amounts RecognizedGross Amounts OffsetNet Amounts PresentedCash CollateralGross Amounts without Right of OffsetNet AmountsAssets:Commodities contracts$369.3 $221.2 $148.2 $2.1 $— $146.1 Foreign currency contracts13.6 8.6 5.0 — — 5.0 Total assets at fair value$383.0 $229.8 $153.2 $2.1 $— $151.1 Liabilities:Commodities contracts$301.4 $221.2 $80.3 $9.4 $—