Company: WKC
Filing Date: 2025-10-24
Form Type: 10-Q
Source: 0000789460-25-000030
Chunk: 137

Company: WORLD KINECT CORP
Filing Date: 2025-10-24
Form: 10-Q
Item: Part I, Item 8
Chunk 137
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 months ended September 30, 2025 and 2024 (in millions). For additional details, please see the unaudited Condensed Consolidated Statements of Cash Flows in this Quarterly Report on Form 10-Q.

For the Nine Months Ended September 30,20252024Net cash provided by (used in) operating activities$258.7 $139.6 Net cash provided by (used in) investing activities(4.8)98.9 Net cash provided by (used in) financing activities(163.7)(162.6)

Operating Activities. For the nine months ended September 30, 2025, net cash provided by operating activities was $258.7 million, compared to $139.6 million net cash provided during the nine months ended September 30, 2024. The $119.1 million increase in operating cash flows was principally due to increased cash provided by our accounts payable and accounts receivable, inclusive of cash provided by our RPA activity, driven by the declining price environment during the nine months ended September 30, 2025, as well as cash provided by the collection of transaction tax refunds during the nine months ended September 30, 2025. These increased cash flows were partially offset by cash used in our derivative activities, driven by increased collateral requirements, and income tax payments.

Investing Activities. For the nine months ended September 30, 2025, net cash used in investing activities was $4.8 million, compared to net cash provided of $98.9 million during the nine months ended September 30, 2024. The net cash used in investing activities for the nine months ended September 30, 2025 was primarily driven by capital expenditures of $44.2 million and asset acquisitions of $13.3 million, partially offset by $23.4 million net proceeds from the Watson Sale and $27.1 million of cash received from the net repayment of notes receivable. Net cash provided by investing activities for the nine months ended September 30, 2024 was primarily driven by net proceeds of $200.1 million from the Avinode sale, as discussed in Note 3. Acquisitions and Divestitures, partially offset by capital expenditures of $50.3 million and the issuance of notes receivable of $47.9 million.

Financing Activities. For the nine months ended September 30, 2025, net cash used in financing activities was