XML 62 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Per Share data, unless otherwise specified
 12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Revenue $ 34,622,854 $ 19,131,147 $ 11,295,177
Cost of revenue 33,987,851 18,689,006 10,919,586
Gross profit 635,003 442,141 375,591
Operating expenses:      
Compensation and employee benefits 215,275 162,451 137,408
Provision for bad debt 8,173 4,262 4,552
General and administrative 154,583 94,562 79,636
Total operating expenses 378,031 261,275 221,596
Income from operations 256,972 180,866 153,995
Non-operating expenses, net:      
Interest expense and other financing costs, net (15,825) (4,745) (3,663)
Other (expense) income, net (2,944) 1,409 (423)
Total non-operating expenses, net (18,769) (3,336) (4,086)
Income before income taxes 238,203 177,530 149,909
Provision for income taxes 39,001 31,027 32,346
Net income including noncontrolling interest 199,202 146,503 117,563
Net income (loss) attributable to noncontrolling interest 5,173 (362) 424
Net income attributable to World Fuel $ 194,029 $ 146,865 $ 117,139
Basic earnings per common share (in dollars per share) $ 2.74 $ 2.36 $ 1.99
Basic weighted average common shares 70,687 62,168 59,003
Diluted earnings per common share (in dollars per share) $ 2.71 $ 2.31 $ 1.96
Diluted weighted average common shares 71,510 63,441 59,901