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Consolidated Statements of Income (USD $)
In Thousands, except Per Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Revenue $ 8,708,709 $ 4,397,275 $ 15,788,115 $ 8,315,296
Cost of revenue 8,543,607 4,289,706 15,486,245 8,108,909
Gross profit 165,102 107,569 301,870 206,387
Operating expenses:        
Compensation and employee benefits 54,877 38,900 101,946 73,701
Provision for bad debt 3,531 1,696 4,327 2,065
General and administrative 40,591 21,909 73,969 43,432
Total operating expenses 98,999 62,505 180,242 119,198
Income from operations 66,103 45,064 121,628 87,189
Non-operating expense, net:        
Interest expense and other financing costs, net (4,298) (841) (6,823) (1,481)
Other (expense) income, net (83) 593 (1,011) 629
Total non-operating expenses, net (4,381) (248) (7,834) (852)
Income before income taxes 61,722 44,816 113,794 86,337
Provision for income taxes 11,049 7,765 21,464 15,446
Net income including noncontrolling interest 50,673 37,051 92,330 70,891
Less: net income attributable to noncontrolling interest 470 74 1,018 211
Net income attributable to World Fuel $ 50,203 $ 36,977 $ 91,312 $ 70,680
Basic earnings per common share (in dollars per share) $ 0.71 $ 0.62 $ 1.30 $ 1.19
Basic weighted average common shares (in shares) 70,856 59,418 70,400 59,371
Diluted earnings per common share (in dollars per share) $ 0.70 $ 0.61 $ 1.28 $ 1.17
Diluted weighted average common shares (in shares) 71,558 60,685 71,299 60,646