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Consolidated Statements of Income and Comprehensive Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Revenue $ 9,911,673 $ 9,510,792 $ 29,009,525 $ 25,298,907
Cost of revenue 9,730,921 9,339,945 28,499,415 24,826,190
Gross profit 180,752 170,847 510,110 472,717
Operating expenses:        
Compensation and employee benefits 65,843 57,215 176,553 159,161
Provision for bad debt 3,631 2,422 4,413 6,749
General and administrative 40,230 40,285 126,482 114,254
Total operating expenses 109,704 99,922 307,448 280,164
Income from operations 71,048 70,925 202,662 192,553
Non-operating expenses, net:        
Interest expense and other financing costs, net (4,305) (4,791) (14,403) (11,614)
Other income (expense), net 838 (1,643) 1,316 (2,654)
Total non-operating expenses, net (3,467) (6,434) (13,087) (14,268)
Income before income taxes 67,581 64,491 189,575 178,285
Provision for income taxes 14,683 10,649 33,249 32,113
Net income including noncontrolling interest 52,898 53,842 156,326 146,172
Net income attributable to noncontrolling interest 1,404 1,187 9,817 2,205
Net income attributable to World Fuel 51,494 52,655 146,509 143,967
Basic earnings per common share (in dollars per share) $ 0.72 $ 0.74 $ 2.06 $ 2.04
Basic weighted average common shares (in shares) 71,216 70,939 71,128 70,593
Diluted earnings per common share (in dollars per share) $ 0.72 $ 0.74 $ 2.04 $ 2.02
Diluted weighted average common shares (in shares) 71,816 71,587 71,791 71,415
Comprehensive income:        
Net income including noncontrolling interest 52,898 53,842 156,326 146,172
Other comprehensive (loss) income:        
Foreign currency translation adjustment (739) (10,821) (8,818) (9,680)
Change in effective portion of cash flow hedges, net of income tax expense of $27 87   87  
Other comprehensive loss (652) (10,821) (8,731) (9,680)
Comprehensive income including noncontrolling interest 52,246 43,021 147,595 136,492
Comprehensive income attributable to noncontrolling interest 1,404 1,187 9,817 2,205
Comprehensive income attributable to World Fuel $ 50,842 $ 41,834 $ 137,778 $ 134,287