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Consolidated Statements of Income and Comprehensive Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Revenue $ 9,618,797 $ 8,708,709 $ 19,097,852 $ 15,788,115
Cost of revenue 9,446,674 8,543,607 18,768,494 15,486,245
Gross profit 172,123 165,102 329,358 301,870
Operating expenses:        
Compensation and employee benefits 56,183 54,877 110,710 101,946
Provision for bad debt 641 3,531 782 4,327
General and administrative 42,941 40,591 86,252 73,969
Total operating expenses 99,765 98,999 197,744 180,242
Income from operations 72,358 66,103 131,614 121,628
Non-operating expenses, net:        
Interest expense and other financing costs, net (5,437) (4,298) (10,098) (6,823)
Other (expense) income, net (88) (83) 478 (1,011)
Total non-operating expenses, net (5,525) (4,381) (9,620) (7,834)
Income before income taxes 66,833 61,722 121,994 113,794
Provision for income taxes 11,951 11,049 18,566 21,464
Net income including noncontrolling interest 54,882 50,673 103,428 92,330
Net income attributable to noncontrolling interest 6,282 470 8,413 1,018
Net income attributable to World Fuel 48,600 50,203 95,015 91,312
Basic earnings per common share (in dollars per share) $ 0.68 $ 0.71 $ 1.34 $ 1.30
Basic weighted average common shares (in shares) 71,173 70,856 71,083 70,400
Diluted earnings per common share (in dollars per share) $ 0.68 $ 0.70 $ 1.32 $ 1.28
Diluted weighted average common shares (in shares) 71,767 71,558 71,773 71,299
Comprehensive income:        
Net income including noncontrolling interest 54,882 50,673 103,428 92,330
Other comprehensive (loss) income:        
Foreign currency translation adjustment (10,886) 440 (8,079) 1,141
Comprehensive income including noncontrolling interest 43,996 51,113 95,349 93,471
Comprehensive income attributable to noncontrolling interest 6,282 470 8,413 1,018
Comprehensive income attributable to World Fuel $ 37,714 $ 50,643 $ 86,936 $ 92,453