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Acquisitions and Significant Accounting Policies (Tables) (2014 Acquisitions) | 9 Months Ended
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Sep. 30, 2014
2014 Acquisitions |
Acquisitions |
Reconciliation of the estimated aggregate purchase price for the acquisitions to the cash paid for the acquisitions, net of cash acquired |
Estimated purchase price |  | $ | 238,523
Less: Cash acquired |  |  | 16,167
Estimated purchase price, net of cash acquired |  |  | 222,356
Less: Promissory notes issued |  |  | 9,000
Less: Amounts due to sellers |  |  | 789
Cash paid for acquisition of businesses |  | $ | 212,567
Schedule of estimated purchase price allocation for the acquisition |
Assets acquired: |  |  |
Cash and cash equivalents |  | $ | 16,167
Accounts receivable |  |  | 256,627
Inventories |  |  | 14,412
Property and equipment |  |  | 61,960
Identifiable intangible assets |  |  | 61,031
Goodwill |  |  | 126,962
Other current and long-term assets |  |  | 21,275
Liabilities assumed: |  |  |
Accounts payable |  |  | (247,377)
Accrued expenses and other current liabilities |  |  | (58,771)
Other long-term liabilities |  |  | (11,908)
Initial noncontrolling interest upon acquisition of joint venture |  |  | (1,855)
Estimated purchase price |  | $ | 238,523
Schedule of unaudited pro forma results |
|  | For the Three Months ended |  | For the Nine Months ended
|  | September 30, |  | September 30,
|  | 2014 |  | 2013 |  | 2014 |  | 2013
|  | (pro forma) |  | (pro forma) |  | (pro forma) |  | (pro forma)
Revenue |  | $ | 11,748,457 |  | $ | 11,127,729 |  | $ | 34,289,238 |  | $ | 33,031,887
Net income attributable to World Fuel |  | $ | 56,350 |  | $ | 51,786 |  | $ | 158,778 |  | $ | 160,417
Earnings per common share: |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.80 |  | $ | 0.73 |  | $ | 2.24 |  | $ | 2.25
Diluted |  | $ | 0.79 |  | $ | 0.72 |  | $ | 2.23 |  | $ | 2.23

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2)-(3) -URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=39739317&loc=d3e4845-128472 + Details
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