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Consolidated Statements of Income (USD $)
In Thousands, except Per Share data
3 Months Ended9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
Revenue$ 9,510,792$ 4,987,074$ 25,298,907$ 13,302,370
Cost of revenue9,339,9454,874,96724,826,19012,983,876
Gross profit170,847112,107472,717318,494
Operating expenses:    
Compensation and employee benefits57,21543,048159,161116,749
Provision for bad debt2,4221,0976,7493,162
General and administrative40,28522,875114,25466,307
Total operating expenses99,92267,020280,164186,218
Income from operations70,92545,087192,553132,276
Non-operating expense, net:    
Interest expense and other financing costs, net(4,791)(989)(11,614)(2,470)
Other (expense) income, net(1,643)(209)(2,654)420
Total non-operating expenses, net(6,434)(1,198)(14,268)(2,050)
Income before income taxes64,49143,889178,285130,226
Provision for income taxes10,6497,51532,11322,961
Net income including noncontrolling interest53,84236,374146,172107,265
Net income (loss) attributable to noncontrolling interest1,187(381)2,205(170)
Net income attributable to World Fuel$ 52,655$ 36,755$ 143,967$ 107,435
Basic earnings per common share (in dollars per share)$ 0.74$ 0.61$ 2.04$ 1.80
Basic weighted average common shares (in shares)70,93960,49670,59359,768
Diluted earnings per common share (in dollars per share)$ 0.74$ 0.60$ 2.02$ 1.76
Diluted weighted average common shares (in shares)71,58761,66371,41560,985