Company: WKC
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001628280-25-007620
Chunk: 77

Company: WORLD KINECT CORP
Filing Date: 2025-02-25
Form: 10-K
Item: Item 15
Chunk 77
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 for risk management purposes (in millions):UnitDecember 31, 2024Commodity contracts:LongBBL86.6 ShortBBL(88.2)Foreign currency exchange contracts:Sell U.S. dollar, buy other currenciesUSD(675.1)Buy U.S. dollar, sell other currenciesUSD742.7 Interest rate contract:Interest rate swapUSD300.0 The majority of our foreign currency exchange contracts and the volume related to our commodities contracts are expected to settle within the next year and our interest rate swap agreement matures in March 2025.

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Table of Contents

Assets and LiabilitiesThe following table presents the gross fair value of our derivative instruments and their locations on the Consolidated Balance Sheets (in millions):Gross Derivative AssetsGross Derivative LiabilitiesAs of December 31,As of December 31,Derivative InstrumentsConsolidated Balance Sheets location2024202320242023Derivatives designated as hedging instrumentsCommodity contractsShort-term derivative assets, net$4.0 $— $3.5 $— Other non-current assets— 0.3 — — Short-term derivative liabilities, net13.9 24.8 18.9 20.9 Interest rate contractShort-term derivative assets, net2.9 12.7 — — Other non-current assets— 2.2 — — Total derivatives designated as hedging instruments20.8 39.9 22.4 20.9 Derivatives not designated as hedging instrumentsCommodity contractsShort-term derivative assets, net230.8 343.9 65.7 73.1 Other non-current assets69.4 139.8 20.5 17.2 Short-term derivative liabilities, net86.7 161.8 174.4 340.0 Other long-term liabilities62.8 121.2 95.6 217.9 Foreign currency contractsShort-term derivative assets, net23.3 24.7 15.1 9.8 Other non-current assets0.7 0.6 0.3 0.5 Short-term derivative liabilities, net5.1 8.7 6.9 18.3 Other long-term liabilities0.1 — 0.6 — Total derivatives not designated as hedging instruments478.9 800.8