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Acquisitions and Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2011

Acquisitions and Significant Accounting Policies

Reconciliation of the estimated aggregate purchase price for the 2011 acquisitions to the cash paid for the acquisitions, net of cash acquired

The following reconciles the estimated aggregate purchase price for the 2011 acquisitions to the cash paid for the acquisitions, net of cash acquired (in thousands):

Estimated purchase price		$	153,213
Less: Promissory notes issued		8,278
Less: Common stock issued		27,491
Estimated cash consideration		117,444
Less: Amounts due to sellers, net		6,007
Cash consideration paid		111,437
Less: Cash acquired		2,638
Cash paid for acquisition of businesses, net of cash acquired		$	108,799

Schedule of estimated purchase price allocation for the 2011 acquisitions

On an aggregate basis, the estimated purchase price allocation for the 2011 acquisitions is as follows (in thousands):

Assets acquired:
Cash and cash equivalents		$	2,638
Accounts receivable		60,923
Inventories		38,045
Other current and long-term assets		15,713
Property and equipment		22,559
Identifiable intangible assets		18,780
Goodwill		42,850
Liabilities assumed:
Accounts payable		(36,434		)
Assumed employee benefits		(5,421		)
Accrued expenses and other current liabilities		(3,031		)
Other long-term liabilities		(3,409		)
Estimated purchase price		$	153,213

Schedule of unaudited pro forma results of acquisitions

		For the Three Months Ended						For the Nine Months Ended
		September 30,						September 30,
		2011			2010			2011			2010
		(pro forma)			(pro forma)			(pro forma)			(pro forma)
Revenue		$	9,510,792		$	5,100,149		$	25,486,686		$	13,592,036
Net income attributable to World Fuel		$	52,655		$	38,123		$	151,582		$	109,700
Earnings per common share:
Basic		$	0.74		$	0.62		$	2.14		$	1.81
Diluted		$	0.74		$	0.61		$	2.12		$	1.78

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Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

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-Publisher FASB

-Name Accounting Standards Codification

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-Name Statement of Financial Accounting Standard (FAS)

-Number 141

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



Reference 3: http://www.xbrl.org/2003/role/presentationRef

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-Name Statement of Financial Accounting Standard (FAS)

-Number 141

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



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Tabular disclosure of all of the fair values of the purchase price and assets and liabilities acquired in a business combination.

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Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

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