WORLD KINECT CORP

For the period ended Dec 31, 2023. Filed Feb 23, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 23, 2024

WKC$35.34-1.4%Stored close · as of Nov 10, 2026

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Contents

(iii)Consolidated Statements of Income and Comprehensive Income

CONSOLIDATED STATEMENTS OF INCOME AND

COMPREHENSIVE INCOME

(In millions, except earnings per share data)

	For the Year Ended December 31,
	2023	2022	2021
Revenue	$47,710.6	$59,043.1	$31,337.0
Cost of revenue	46,652.4	57,954.1	30,548.8
Gross profit	1,058.2	1,089.1	788.2
Operating expenses:
Compensation and employee benefits	512.3	507.4	386.7
General and administrative	308.0	308.7	247.6
Asset impairments	32.8	0.6	4.7
Restructuring charges	7.2	(0.8)	6.6
Total operating expenses	860.2	815.8	645.6
Income from operations	198.0	273.2	142.6
Non-operating income (expenses), net:
Interest expense and other financing costs, net	(127.7)	(110.6)	(40.2)
Other income (expense), net	(3.6)	(17.5)	(2.3)
Total non-operating income (expense), net	(131.3)	(128.1)	(42.5)
Income (loss) before income taxes	66.7	145.1	100.0
Provision for income taxes	13.0	29.2	25.8
Net income (loss) including noncontrolling interest	53.7	115.9	74.2
Net income (loss) attributable to noncontrolling interest	0.8	1.7	0.5
Net income (loss) attributable to World Kinect	$52.9	$114.1	$73.7
Basic earnings (loss) per common share	$0.86	$1.83	$1.17
Basic weighted average common shares	61.4	62.3	62.9
Diluted earnings (loss) per common share	$0.86	$1.82	$1.16
Diluted weighted average common shares	61.7	62.7	63.3
Comprehensive income:
Net income (loss) including noncontrolling interest	$53.7	$115.9	$74.2
Other comprehensive income (loss):
Foreign currency translation adjustments	19.9	(45.5)	(13.7)
Cash flow hedges, net of income tax expense (benefit) of ($2.7), $7.6, and $3.3 for 2023, 2022, and 2021, respectively	(8.1)	21.6	9.6
Total other comprehensive income (loss)	11.8	(24.0)	(4.1)
Comprehensive income (loss) including noncontrolling interest	65.5	91.9	70.1
Comprehensive income (loss) attributable to noncontrolling interest	0.8	1.7	0.5
Comprehensive income (loss) attributable to World Kinect	$64.7	$90.2	$69.6

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.