XML 24 R28.htm IDEA: XBRL DOCUMENT v2.4.0.8
Acquisitions and Significant Accounting Policies (Details)
 9 Months Ended 9 Months Ended 3 Months Ended 9 Months Ended 9 Months Ended 0 Months Ended 9 Months Ended
Sep. 30, 2014
USD ($)
Sep. 30, 2013
USD ($)
Dec. 31, 2013
USD ($)
Sep. 30, 2014
Land Segment
USD ($)
Sep. 30, 2014
Marine segment
USD ($)
Sep. 30, 2014
Aviation Segment
USD ($)
Sep. 30, 2014
2014 Acquisitions
USD ($)
Sep. 30, 2013
2014 Acquisitions
USD ($)
Sep. 30, 2014
2014 Acquisitions
USD ($)
Sep. 30, 2013
2014 Acquisitions
USD ($)
Sep. 30, 2014
2014 Acquisitions
Trademark/Trade name rights
USD ($)
Sep. 30, 2014
2014 Acquisitions
Customer relationships
USD ($)
Sep. 30, 2014
2014 Acquisitions
Other identifiable intangible assets
USD ($)
Sep. 30, 2014
2014 Acquisitions
Land Segment
USD ($)
Sep. 30, 2014
2014 Acquisitions
Aviation Segment
USD ($)
Mar. 07, 2014
2014 Acquisitions
Watson Petroleum
USD ($)
Mar. 07, 2014
2014 Acquisitions
Watson Petroleum
GBP (£)
Sep. 30, 2014
2014 Acquisitions
Watson Petroleum
USD ($)
Sep. 30, 2014
2014 Acquisitions
Watson Petroleum
GBP (£)
Jul. 29, 2014
2014 Acquisitions
Colt
location
Sep. 30, 2014
2013 Acquisitions
Land Segment
USD ($)
Acquisitions                                          
Number of locations                                       3,000  
Estimated purchase price of acquisition                                          
Estimated purchase price                 $ 238,523,000                        
Less: Cash acquired                 16,167,000                        
Estimated purchase price, net of cash acquired                 222,356,000                        
Less: Promissory notes issued 9,000,000 3,000,000             9,000,000                        
Less: Amounts due to sellers                 789,000                        
Cash paid for acquisition of businesses                 212,567,000                        
Assets acquired:                                          
Cash and cash equivalents             16,167,000   16,167,000                        
Accounts receivable             256,627,000   256,627,000                        
Inventories             14,412,000   14,412,000                        
Property and equipment             61,960,000   61,960,000                        
Identifiable intangible assets             61,031,000   61,031,000   5,800,000 51,900,000 3,300,000                
Goodwill 609,915,000   483,591,000       126,962,000   126,962,000         100,400,000 26,600,000            
Other current and long-term assets             21,275,000   21,275,000                        
Weighted average amortizable lives of identifiable intangible assets                       4 years 2 months 12 days 2 years 6 months                
Adjustments due to fair value assessment                                         400,000
Decrease in goodwill due to foreign currency translation adjustments       700,000 300,000 100,000                              
Goodwill anticipated to be deductible for tax purposes             20,500,000   20,500,000                        
Liabilities assumed:                                          
Accounts payable             (247,377,000)   (247,377,000)                        
Accrued expenses and other current liabilities             (58,771,000)   (58,771,000)                        
Other long-term liabilities             (11,908,000)   (11,908,000)                        
Initial noncontrolling interest upon acquisition of joint venture             1,855,000   1,855,000                        
Estimate purchase price             238,523,000   238,523,000                        
Escrow payment related to an assumed obligation of an acquired business 21,724,000                             21,700,000 13,000,000        
Escrow account balance                                   21,100,000 13,000,000    
Goodwill anticipated to be deductible for tax purposes             20,500,000   20,500,000                        
Pro forma results                                          
Revenue             11,748,457,000 11,127,729,000 34,289,238,000 33,031,887,000                      
Net income attributable to World Fuel             56,350,000 51,786,000 158,778,000 160,417,000                      
Earnings per common share:                                          
Basic (in dollars per share)             $ 0.80 $ 0.73 $ 2.24 $ 2.25                      
Diluted (in dollars per share)             $ 0.79 $ 0.72 $ 2.23 $ 2.23                      
Other Investments                                          
Other investments $ 106,400,000   $ 83,800,000