Company: WKC
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001628280-25-007620
Chunk: 14

Company: WORLD KINECT CORP
Filing Date: 2025-02-25
Form: 10-K
Item: Item 7A
Chunk 14
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0.1 2025DKK234.1 6.420 (2.4)2025EUR19.0 1.074 (3.8)2025GBP(23.5)1.281 1.6 2025HUF890.5 373.191 (0.1)2025JPY(184.5)147.450 0.1 2025KRW(42,915.4)1,362.129 2.6 2025MXN1,523.2 20.186 (2.9)2025NOK(508.1)10.780 4.0 2025NZD(1.1)0.597 0.1 2025PLN(10.9)3.935 0.1 2025RON(35.2)4.554 0.4 2025SEK(515.3)9.519 1.9 2025SGD(5.5)1.300 0.2 2025ZAR103.5 17.810 (0.4)2026EUR2.2 1.118 (0.2)Total foreign currency exchange derivative contracts$6.2 

The total fair value of our foreign currency exchange derivative contracts was a net asset of $6.2 million and a net asset of $5.5 million as of December 31, 2024 and 2023, respectively. The majority of foreign currency exchange derivatives are settled within one year. See Note 4. Derivative Instruments for additional information.

Interest Rate Risk

Borrowings under our Credit Facility and Term Loan related to base rate loans or Eurodollar rate loans bear floating interest rates plus applicable margins. As of December 31, 2024, the applicable margins for base rate loans and Eurodollar rate loans were 0.875% and 1.875%, respectively, and we had a $455.3 million Term Loan and no outstanding borrowings under our Credit Facility. The aggregate outstanding balance of our finance lease obligations was $29.9 million as of December 31, 2024, which bear interest at annual rates ranging from 2.6% to 7.2%. We also have other agreements, such as our RPAs, with exposure to interest rate risk. See Note 2. Accounts Receivable and Note 8