Acquisitions and Significant Accounting Policies (Tables) (2014 Acquisitions)

6 Months Ended

Jun. 30, 2014

2014 Acquisitions

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

The following reconciles the estimated aggregate purchase price for the 2014 acquisitions to the cash paid for the acquisitions, net of cash acquired (in thousands):

Estimated purchase price	$	167,038
Less: Cash acquired	11,842
Estimated purchase price, net of cash acquired	155,196
Less: Amounts due to sellers	789
Cash paid for acquisition of businesses	$	154,407

Schedule of estimated purchase price allocation for the acquisition

The estimated purchase price allocation for the 2014 acquisitions is as follows (in thousands):

Assets acquired:
Cash and cash equivalents	$	11,842
Accounts receivable	217,727
Inventories	20,534
Property and equipment	60,358
Identifiable intangible assets	51,119
Goodwill	92,149
Other current and long-term assets	12,764
Liabilities assumed:
Accounts payable	(230,386		)
Accrued expenses and other current liabilities	(47,972		)
Other long-term liabilities	(19,142		)

Initial noncontrolling interest upon acquisition of joint venture	(1,955		)
Estimated purchase price	$	167,038

Schedule of unaudited pro forma results

The following presents the unaudited pro forma results for 2014 and 2013 as if the 2014 acquisitions had been completed on January 1, 2013 (in thousands, except per share data):

	For the Three Months Ended		For the Six Months Ended
	June 30,		June 30,
	2013		2014		2013
	(pro forma)		(pro forma)		(pro forma)

Revenue	$	10,985,812	$	22,320,916	$	21,705,901

Net income attributable to World Fuel	$	54,226	$	100,902	$	107,853

Earnings per common share:
Basic	$	0.76	$	1.43	$	1.51

Diluted	$	0.75	$	1.41	$	1.50