WORLD KINECT CORP
For the period ended Dec 31, 2025. Filed Feb 24, 2026.
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FY2025 · Filed Feb 24, 2026
WKC$35.34-1.4%Stored close · as of Nov 10, 2026
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(v)Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| (In millions) | For the Year Ended December 31, | ||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Cash flows from operating activities: | |||
| Net income (loss) including noncontrolling interest | $(611.7) | $67.9 | $53.7 |
| Adjustments to reconcile net income including noncontrolling interest to net cash provided by operating activities: | |||
| Unrealized (gain) loss on derivatives | 28.3 | 24.9 | (267.5) |
| (Gain) loss on sale of business | 81.9 | 15.2 | (2.2) |
| Depreciation and amortization | 98.2 | 106.4 | 104.5 |
| Noncash operating lease expense | 37.1 | 36.0 | 34.7 |
| Provision for credit losses | 3.9 | 12.0 | 4.7 |
| Share-based payment award compensation costs | 25.5 | 28.1 | 24.2 |
| Deferred income tax expense (benefit) | (176.4) | (15.3) | (30.7) |
| Unrealized foreign currency (gains) losses, net | 14.4 | 30.6 | (16.5) |
| Goodwill and other asset impairment charges | 689.6 | 29.0 | 32.8 |
| Other | 44.8 | 16.6 | 25.2 |
| Changes in assets and liabilities, net of acquisitions and divestitures: | |||
| Accounts receivable, net | 106.4 | 259.1 | 569.2 |
| Inventories | 1.0 | 133.0 | 186.8 |
| Prepaid expenses | (18.7) | (2.3) | 6.7 |
| Other current assets | (26.9) | 20.7 | (30.5) |
| Cash collateral with counterparties | 44.8 | 105.4 | 168.9 |
| Other non-current assets | (92.0) | (117.7) | (88.0) |
| Change in derivative assets and liabilities, net | 7.8 | (3.4) | (4.7) |
| Accounts payable | (32.6) | (355.9) | (441.9) |
| Accrued expenses and other current liabilities | 45.0 | (164.1) | (48.0) |
| Other long-term liabilities | 22.4 | 33.7 | (10.1) |
| Net cash provided by (used in) operating activities | 292.9 | 259.9 | 271.3 |
| Cash flows from investing activities: | |||
| Acquisition of business, net of cash acquired | (153.6) | (40.0) | (13.7) |
| Proceeds from sale of business, net of divested cash | 23.4 | 209.0 | 9.3 |
| Capital expenditures | (65.6) | (68.2) | (87.6) |
| Other investing activities, net | 25.9 | (36.3) | (9.1) |
| Net cash provided by (used in) investing activities | (170.0) | 64.5 | (101.1) |
| Cash flows from financing activities: | |||
| Borrowings of debt | 3,602.0 | 3,844.0 | 5,921.8 |
| Repayments of debt | (3,773.7) | (3,876.2) | (6,224.4) |
| Issuance of Convertible Notes | — | — | 350.0 |
| Dividends paid on common stock | (41.3) | (38.5) | (34.0) |
| Repurchases of common stock | (85.0) | (100.0) | (60.1) |
| Purchase of convertible note hedges | — | — | (70.5) |
| Sale of warrants | — | — | 40.0 |
| Payments of deferred consideration for acquisitions | (7.2) | (51.8) | (62.9) |
| Other financing activities, net | (9.9) | (8.0) | (12.2) |
| Net cash provided by (used in) financing activities | (315.1) | (230.6) | (152.4) |
| Cash and cash equivalents reclassified as assets held for sale | (0.6) | — | — |
| Effect of exchange rate changes on cash and cash equivalents | 3.4 | (15.2) | (12.0) |
| Net increase (decrease) in cash and cash equivalents | (189.4) | 78.7 | 5.9 |
| Cash and cash equivalents, as of the beginning of the period | 382.9 | 304.3 | 298.4 |
| Cash and cash equivalents, as of the end of the period | $193.5 | $382.9 | $304.3 |
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