<SEC-DOCUMENT>0001157523-14-004235.txt : 20141030
<SEC-HEADER>0001157523-14-004235.hdr.sgml : 20141030
<ACCEPTANCE-DATETIME>20141030161750
ACCESSION NUMBER:		0001157523-14-004235
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20141030
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20141030
DATE AS OF CHANGE:		20141030

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WORLD FUEL SERVICES CORP
		CENTRAL INDEX KEY:			0000789460
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-PETROLEUM & PETROLEUM PRODUCTS (NO BULK STATIONS) [5172]
		IRS NUMBER:				592459427
		STATE OF INCORPORATION:			FL
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09533
		FILM NUMBER:		141183455

	BUSINESS ADDRESS:	
		STREET 1:		9800 N.W. 41ST STREET
		STREET 2:		SUITE 400
		CITY:			MIAMI
		STATE:			FL
		ZIP:			33178
		BUSINESS PHONE:		305-428-8001

	MAIL ADDRESS:	
		STREET 1:		9800 N.W. 41ST STREET
		STREET 2:		SUITE 400
		CITY:			MIAMI
		STATE:			FL
		ZIP:			33178

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INTERNATIONAL RECOVERY CORP
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a50973425.htm
<DESCRIPTION>WORLD FUEL SERVICES CORPORATION 8-K
<TEXT>
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      <br>
      <font style="font-size: 18pt; font-family: Times New Roman"><b>UNITED
      STATES</b></font><font style="font-size: 18pt"><br style="font-size: 18pt"></font><font style="font-size: 18pt; font-family: Times New Roman"><b>SECURITIES
      AND EXCHANGE COMMISSION</b></font><br><font style="font-size: 12pt; font-family: Times New Roman"><b>WASHINGTON,
      D.C. 20549</b></font><br>
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    <p style="text-align: center">
      <font style="font-size: 18pt; font-family: Times New Roman"><b>FORM 8-K</b></font><br>
    </p>
    <hr style="color: #000000; text-align: center; height: 1.0 pt; width: 20%">


    <p style="text-align: center">

    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt; font-family: Times New Roman"><b>CURRENT
      REPORT</b></font><font style="font-size: 12pt; font-family: Times New Roman"><br style="font-size: 12pt; font-family: Times New Roman"></font><font style="font-size: 12pt; font-family: Times New Roman"><br style="font-size: 12pt; font-family: Times New Roman"></font><font style="font-size: 12pt; font-family: Times New Roman"><b>PURSUANT
      TO SECTION 13 OR 15(d) OF</b></font><font style="font-size: 12pt; font-family: Times New Roman"><br style="font-size: 12pt; font-family: Times New Roman"></font><font style="font-size: 12pt; font-family: Times New Roman"><br style="font-size: 12pt; font-family: Times New Roman"></font><font style="font-size: 12pt; font-family: Times New Roman"><b>THE
      SECURITIES EXCHANGE ACT OF 1934</b></font><br><br><font style="font-size: 10pt; font-family: Times New Roman"><b>Date
      of Report (Date of earliest event reported): &#160;October 30, 2014</b></font><br>
    </p>
    <hr style="color: #000000; text-align: center; height: 1.0 pt; width: 20%">


    <p style="text-align: center">
      <br>
      <font style="font-size: 20pt; font-family: Times New Roman"><b>WORLD
      FUEL SERVICES CORPORATION</b></font><font style="font-size: 12pt; font-family: Times New Roman"><br style="font-size: 12pt; font-family: Times New Roman"></font><font style="font-size: 10pt; font-family: Times New Roman">(Exact
      name of registrant as specified in its charter)</font><br>
    </p>
    <hr style="color: #000000; text-align: center; height: 1.0 pt; width: 20%">


    <p style="text-align: center">

    </p>
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      <tr>
        <td style="padding-left: 0.0px; text-align: center; width: 33%" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Florida</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; width: 34%; white-space: nowrap" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>1-9533</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; width: 33%; white-space: nowrap" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>59-2459427</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center; width: 33%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(State or other jurisdiction of</b>
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>incorporation)</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: center; width: 34%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(Commission File Number)</b>
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: center; width: 33%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>(I.R.S. Employer</b>
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Identification No.)</b>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>
      <br>

    </p>
    <div style="text-align:center">
    <table style="font-size: 10pt; margin-bottom: 10.0px; font-family: Times New Roman; margin-left:auto;margin-right:auto; width: 100%" cellspacing="0">
      <tr>
        <td style="padding-left: 0.0px; text-align: center; width: 50%" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>9800 N.W. 41<sup>st</sup> Street, Suite 400</b>
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Miami, Florida</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; width: 50%; white-space: nowrap" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>33178</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center; width: 50%" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-size: 10pt; font-family: Times New Roman"><b>(Address
            of principal executive offices)</b></font>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: center; width: 50%" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-size: 10pt; font-family: Times New Roman"><b>(Zip
            Code)</b></font>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <br>
      <font style="font-size: 10pt"><b>Registrant&#8217;s telephone number,
      including area code: (305) 428-8000</b></font><br>
    </p>
    <hr style="color: #000000; text-align: center; height: 1.0 pt; width: 20%">


    <p style="text-align: center">

    </p>
    <p style="font-size: 10pt; font-family: Times New Roman">
      <font style="font-size: 10pt; font-family: Times New Roman">Check the
      appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions:</font>
    </p>
    <p style="font-size: 10pt; font-family: Times New Roman; margin-left: 30.0px">
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font><br>
    </p>
    <p style="font-size: 10pt; font-family: Times New Roman; margin-left: 30.0px">
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font><br>
    </p>
    <p style="font-size: 10pt; font-family: Times New Roman; margin-left: 30.0px">
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font><br>
    </p>
    <p style="font-size: 10pt; font-family: Times New Roman; margin-left: 30.0px">
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font><br>
    </p>
    <p>

    </p>
<div style="text-align:left">
    <table style="font-size: 10pt; margin-bottom: 10.0px; font-family: Times New Roman; width: 100%" cellspacing="0">
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          &#160;
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    </table>
    </div>
    <p>

    </p>
    <div style="text-indent: 0pt; margin-bottom: 10pt; margin-left: 0pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p>
      <b>Item 2.02. Results of Operations and Financial Condition</b><br>
    </p>
    <p>
      <b>Item 7.01. Regulation FD Disclosure</b><br>
    </p>
    <p style="font-size: 10pt; text-indent: 30.0px; font-family: Times New Roman">
      The following information is provided pursuant to Item 7.01 of Form 8-K,
      &#8220;Regulation FD Disclosure&#8221; and Item 2.02 of Form 8-K, &#8220;Results of
      Operations and Financial Condition.&#8221;
    </p>
    <p style="font-size: 10pt; text-indent: 30.0px; font-family: Times New Roman">
      On October 30, 2014, World Fuel Services Corporation issued a press
      release reporting its financial results for the third quarter of
      2014.&#160;&#160;A copy of the press release is attached hereto as Exhibit 99.1.
    </p>
    <p style="font-size: 10pt; text-indent: 30.0px; font-family: Times New Roman">
      This information and the information contained in Exhibit 99.1 shall not
      be deemed &#8220;filed&#8221; for purposes of Section 18 of the Securities Exchange
      Act of 1934, as amended (the &#8220;Exchange Act&#8221;), or incorporated by
      reference in any filing under the Securities Act of 1933, as amended, or
      the Exchange Act, except as may be expressly set forth by specific
      reference in any such filing.&#160;
    </p>
    <p style="text-align: justify">

    </p>
    <p style="white-space: nowrap">
      <b>Item 9.01.&#160;&#160;Financial Statements and Exhibits</b><br>
    </p>
<div style="text-align:left">
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          <p style="margin-bottom: 0px; margin-top: 0px">
            (d)
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 12%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Exhibits
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 83%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 12%">

        </td>
        <td style="width: 83%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="padding-left: 0.0px; text-align: center; width: 12%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>Exhibit No.</b></u>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 83%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>Description</b></u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; width: 12%; white-space: nowrap" valign="top">
          99.1
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 83%" valign="top">
          Press Release, dated October 30, 2014.
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <div style="text-indent: 0pt; margin-bottom: 10pt; margin-left: 0pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="text-align: center">

    </p>
    <p style="text-align: center">
      <font style="font-size: 10pt; font-family: Times New Roman"><b>SIGNATURES</b></font><br>
    </p>
    <p style="text-indent: 30.0px; text-align: left">
      <font style="font-size: 10pt; font-family: Times New Roman">Pursuant to
      the requirements of the Securities Exchange Act of 1934, the registrant
      has duly caused this report to be signed on its behalf by the
      undersigned, thereunto duly authorized.</font>
    </p>
    <p style="text-align: left">

    </p>
    <div style="text-align:center">
    <table style="font-size: 10pt; margin-bottom: 10.0px; font-family: Times New Roman; margin-left:auto;margin-right:auto; width: 100%" cellspacing="0">
      <tr>
        <td style="padding-left: 0.0px; text-align: left; width: 5%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Date:
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 45%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            October 30, 2014
          </p>
        </td>
        <td colspan="2" style="padding-left: 0.0px; text-align: center" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>World Fuel Services Corporation</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="width: 40%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 10%" valign="top">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 40%; border-bottom: solid black 1.0pt" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            /s/ Ira M. Birns
          </p>
        </td>
        <td style="width: 10%">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; width: 5%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 45%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 40%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Ira M. Birns
          </p>
        </td>
        <td style="width: 10%">

        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td colspan="2" style="padding-left: 0.0px; text-align: left" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Executive Vice President and Chief Financial Officer
          </p>
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-bottom: 10pt; margin-left: 0pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="text-align: center">

    </p>
    <p style="text-align: center">
      EXHIBIT INDEX<br><br>
    </p>
    <div style="text-align:center">
    <table style="font-size: 10pt; margin-bottom: 10.0px; font-family: Times New Roman; margin-left:auto;margin-right:auto; width: 100%" cellspacing="0">
      <tr>
        <td style="padding-left: 0.0px; text-align: left; width: 15%; border-bottom: solid black 1.0pt" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Exhibit
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px; width: 10%" valign="top">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 75%; border-bottom: solid black 1.0pt" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Description
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; width: 15%; white-space: nowrap" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            99.1
          </p>
        </td>
        <td style="width: 10%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 75%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Press Release, dated October 30, 2014.
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">

    </p>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a50973425ex991.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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    <title></title>
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    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt; font-family: Times New Roman"><b>World
      Fuel Services Corporation Reports Record Third Quarter Results</b></font>
    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt; font-family: Times New Roman"><b>Record
      Volume, Revenue, Gross Profit, Net Income and EPS</b></font>
    </p>
    <p>
      MIAMI--(BUSINESS WIRE)--October 30, 2014--World Fuel Services
      Corporation (NYSE: INT), a leading global fuel logistics company,
      principally engaged in the marketing, sale and distribution of aviation,
      marine and land fuel and related products and services, today reported
      third quarter net income of $55.7 million or $0.78 diluted earnings per
      share compared to $51.5 million or $0.72 diluted earnings per share in
      the third quarter of 2013. Non-GAAP net income and diluted earnings per
      share for the third quarter, excluding share-based compensation,
      amortization of acquired intangible assets and expenses related to
      recent acquisitions were $64.6 million and $0.91, respectively, compared
      to $57.9 million and $0.81 in 2013.
    </p>
    <p>
      &#8220;We were pleased with our results this quarter as we posted record
      results despite continued global-economic headwinds,&#8221; stated Michael J.
      Kasbar, chairman and chief executive officer. &#8220;We remain focused on
      executing on the significant growth opportunities that exist across all
      of our business segments worldwide.&#8221;
    </p>
    <p>
      The company&#8217;s aviation segment generated gross profit of $96.2 million,
      an increase of $14.4 million or 18% sequentially and $6.5 million or 7%
      year-over-year. The company&#8217;s marine segment generated gross profit of
      $49.4 million, an increase of $0.6 million or 1% sequentially and $9.2
      million or 23% year-over-year. The company&#8217;s land segment posted gross
      profit of $69.0 million, an increase of $8.1 million or 13% sequentially
      and $12.6 million or 22% year-over-year.
    </p>
    <p>
      &#8220;The record results posted this quarter are a testament to our
      successful growth strategies and our well-diversified business model,&#8221;
      said Ira M. Birns, executive vice president and chief financial officer.
      &#8220;In addition, we have now generated positive cash flow from operations
      for the ninth consecutive quarter, further contributing to the strength
      of our balance sheet and providing ample liquidity to continue investing
      in both organic initiatives and strategic investment opportunities.&#8221;
    </p>
    <div style="text-indent: 0pt; margin-bottom: 10pt; margin-left: 0pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <u>Non-GAAP Financial Measures</u>
    </p>
    <p>
      This press release includes selected financial information that has not
      been prepared in accordance with accounting principles generally
      accepted in the United States (&#8220;GAAP&#8221;). This information includes
      non-GAAP net income and non-GAAP diluted earnings per share. The
      non-GAAP financial measures exclude costs associated with share based
      compensation, amortization of acquired intangible assets, expenses
      related to the acquisition of Watson Petroleum Limited (&#8220;Watson
      Petroleum&#8221;) and Colt International, L.L.C. (&#8220;Colt&#8221;) and the executive
      non-renewal charge primarily because we do not believe they are
      reflective of the Company's core operating results. We believe the
      exclusion of share-based compensation from operating expenses is useful
      given the variation in expense that can result from changes in the fair
      value of our common stock, the effect of which is unrelated to the
      operational conditions that give rise to variations in the components of
      our operating costs. Also, we believe the exclusion of the amortization
      of acquired intangible assets, as well as the expenses related to the
      acquisition of Watson Petroleum and Colt and the executive non-renewal
      charge, are useful for purposes of evaluating operating performance of
      our core operating results and comparing them period-over-period. We
      believe that these non-GAAP financial measures, when considered in
      conjunction with our financial information prepared in accordance with
      GAAP, are useful to investors to further aid in evaluating the ongoing
      financial performance of the Company and to provide greater transparency
      as supplemental information to our GAAP results.
    </p>
    <p>
      Non-GAAP financial measures should not be considered in isolation from,
      or as a substitute for, financial information prepared in accordance
      with GAAP. In addition, our presentation of non-GAAP net income and
      non-GAAP diluted earnings per common share may not be comparable to the
      presentation of such metrics by other companies. Non-GAAP diluted
      earnings per common share is computed by dividing non-GAAP net income
      attributable to World Fuel and available to common shareholders by the
      sum of the weighted average number of shares of common stock, stock
      units, restricted stock entitled to dividends not subject to forfeiture
      and vested RSUs outstanding during the period and the number of
      additional shares of common stock that would have been outstanding if
      our outstanding potentially dilutive securities had been issued.
      Investors are encouraged to review the reconciliation of these non-GAAP
      measures to their most directly comparable GAAP financial measures.
    </p>
    <p>
      <u>Information Relating to Forward-Looking Statements</u>
    </p>
    <p>
      This release includes forward-looking statements within the meaning of
      the Private Securities Litigation Reform Act of 1995, including
      statements regarding our expectations about growth opportunities and our
      future investment opportunities. These forward-looking statements are
      qualified in their entirety by cautionary statements and risk factor
      disclosures contained in the company&#8217;s Securities and Exchange
      Commission (&#8220;SEC&#8221;) filings, including the company&#8217;s Annual Report on
      Form 10-K filed with the SEC on February 14, 2014. Actual results may
      differ materially from any forward-looking statements due to risks and
      uncertainties, including, but not limited to: our ability to effectively
      integrate and derive benefits from acquired businesses, our ability to
      capitalize on new market opportunities, potential liabilities and the
      extent of any insurance coverage, the outcome of pending litigation and
      other proceedings, the impact of quarterly fluctuations in results, the
      creditworthiness of our customers and counterparties and our ability to
      collect accounts receivable, fluctuations in world oil prices or foreign
      currency, changes in political, economic, regulatory, or environmental
      conditions, adverse conditions in the markets or industries in which we
      or our customers and suppliers operate, our failure to effectively hedge
      certain financial risks associated with the use of derivatives,
      non-performance by counterparties or customers on derivatives contracts,
      loss of, or reduced sales, to a significant government customer,
      uninsured losses, the impact of natural disasters, adverse results in
      legal disputes, unanticipated tax liabilities, our ability to retain and
      attract senior management and other key employees and other risks
      detailed from time to time in the company&#8217;s SEC filings. New risks
      emerge from time to time and it is not possible for management to
      predict all such risk factors or to assess the impact of such risks on
      our business. Accordingly, we undertake no obligation to publicly update
      or revise any forward-looking statements, whether as a result of new
      information, changes in expectations, future events, or otherwise.
    </p>
    <p>
      <u>About World Fuel Services Corporation</u>
    </p>
    <p>
      Headquartered in Miami, Florida, World Fuel Services is a leading global
      fuel logistics company, principally engaged in the marketing, sale and
      distribution of aviation, marine and land fuel products and related
      services on a worldwide basis. World Fuel Services sells fuel and
      delivers services to its clients at more than 8,000 locations in more
      than 200 countries and territories worldwide.
    </p>
    <p>
      The company's global team of market makers provides deep domain
      expertise in all aspects of aviation, marine and land fuel management.
      Aviation customers include commercial airlines, cargo carriers, private
      aircraft and fixed base operators (FBOs), as well as the United States
      and foreign governments. World Fuel Services' marine customers include
      international container and tanker fleets, cruise lines and time-charter
      operators, as well as the United States and foreign governments. Land
      customers include petroleum distributors, retail petroleum operators,
      and industrial, commercial, and government accounts. The company also
      offers transaction management services which consist of card payment
      solutions and merchant processing services to customers in the aviation,
      marine and land transportation industries. For more information, call
      305-428-8000 or visit <u>www.wfscorp.com</u>.
    </p>
    <div style="text-indent: 0pt; margin-bottom: 10pt; margin-left: 0pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-size: 8pt; margin-bottom: 10.0px; font-family: Times New Roman; width: 100%" cellspacing="0">
      <tr>
        <td colspan="7">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="7" style="text-align: center" valign="top">
          <b>WORLD FUEL SERVICES CORPORATION AND SUBSIDIARIES</b>
        </td>
      </tr>
      <tr>
        <td colspan="7" style="text-align: center" valign="top">
          <b>CONSOLIDATED BALANCE SHEETS</b>
        </td>
      </tr>
      <tr>
        <td colspan="7" style="padding-left: 0.0px; text-align: center" valign="top">
          (UNAUDITED - IN THOUSANDS)
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="5" style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt" valign="top">
          As of
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap" valign="top">
          September 30,
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap" valign="top">
          December 31,
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          2014
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          2013
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Assets:
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Current assets:
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="top">
          Cash and cash equivalents
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          388,544
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          292,061
        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="top">
          Accounts receivable, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          2,837,050
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          2,538,642
        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="top">
          Inventories
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          679,512
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          655,046
        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Prepaid expenses and other current assets
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          424,271
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          329,752
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 30.0px; text-align: left" valign="top">
          Total current assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          4,329,377
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          3,815,501
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Property and equipment, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          204,794
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          129,685
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Goodwill, identifiable intangible and other non-current assets
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          989,494
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          794,091
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 50.0px; text-align: left; padding-bottom: 4.0px" valign="top">
          Total assets
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          5,523,665
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          4,739,277
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Liabilities and equity:
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Liabilities:
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Current liabilities:
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="top">
          Short-term debt
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          16,390
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          14,647
        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="top">
          Accounts payable
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          2,455,915
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          2,210,427
        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Accrued expenses and other current liabilities
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          375,679
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          289,441
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 30.0px; text-align: left" valign="top">
          Total current liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          2,847,984
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          2,514,515
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Long-term debt
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          750,885
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          449,064
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Other long-term liabilities
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          113,086
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          96,804
        </td>
      </tr>
      <tr>
        <td style="padding-left: 50.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Total liabilities
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          3,711,955
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          3,060,383
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Equity:
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="top">
          World Fuel shareholders' equity
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,808,364
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,673,898
        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Noncontrolling interest equity
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          3,346
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          4,996
        </td>
      </tr>
      <tr>
        <td style="padding-left: 50.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Total equity
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          1,811,710
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          1,678,894
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 50.0px; text-align: left; padding-bottom: 4.0px" valign="top">
          Total liabilities and equity
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          5,523,665
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          4,739,277
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-bottom: 10pt; margin-left: 0pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-size: 8pt; margin-bottom: 10.0px; font-family: Times New Roman; width: 100%" cellspacing="0">
      <tr>
        <td colspan="17">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="17" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>WORLD FUEL SERVICES CORPORATION AND SUBSIDIARIES</b>
        </td>
      </tr>
      <tr>
        <td colspan="17" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>CONSOLIDATED STATEMENTS OF INCOME</b>
        </td>
      </tr>
      <tr>
        <td colspan="17" style="padding-left: 0.0px; text-align: center" valign="top">
          (UNAUDITED - IN THOUSANDS, EXCEPT EARNINGS PER SHARE DATA)
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="7" style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap" valign="top">
          For the Three Months ended
        </td>
        <td>

        </td>
        <td colspan="7" style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap" valign="top">
          For the Nine Months ended
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="7" style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt" valign="top">
          September 30,
        </td>
        <td>

        </td>
        <td colspan="7" style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt" valign="top">
          September 30,
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          2014
        </td>
        <td>

        </td>
        <td colspan="3" style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          2013
        </td>
        <td>

        </td>
        <td colspan="3" style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          2014
        </td>
        <td>

        </td>
        <td colspan="3" style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          2013
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Revenue
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          11,713,463
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          10,493,661
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          33,606,834
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          31,157,294
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Cost of revenue
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          11,498,855
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          10,307,320
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          33,012,678
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          30,600,116
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 30.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Gross profit
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          214,608
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          186,341
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          594,156
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          557,178
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Operating expenses:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="top">
          Compensation and employee benefits
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          85,171
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          72,184
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          233,609
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          214,358
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="top">
          Provision for bad debt
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,193
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,863
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          3,533
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          5,675
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          General and administrative
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          54,141
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          48,091
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          158,795
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          137,265
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 30.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Total operating expenses
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          140,505
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          122,138
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          395,937
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          357,298
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 30.0px; text-align: left" valign="top">
          Income from operations
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          74,103
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          64,203
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          198,219
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          199,880
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Non-operating expenses, net
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          (6,202
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          (5,715
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          (11,905
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          (14,025
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Income before income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          67,901
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          58,488
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          186,314
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          185,855
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Provision for income taxes
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          13,441
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          8,191
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          34,964
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          32,090
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Net income including noncontrolling interest
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          54,460
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          50,297
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          151,350
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          153,765
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Net (loss) income attributable to noncontrolling interest
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          (1,200
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          (1,175
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          (3,263
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          2,552
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 4.0px" valign="top">
          Net income attributable to World Fuel
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          55,660
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          51,472
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          154,613
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          151,213
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 4.0px" valign="top">
          Basic earnings per common share
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          0.79
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          0.72
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          2.18
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          2.12
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 4.0px" valign="top">
          Basic weighted average common shares
        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          70,796
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          71,371
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          70,770
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          71,387
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 4.0px" valign="top">
          Diluted earnings per common share
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          0.78
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          0.72
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          2.17
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          2.10
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 4.0px" valign="top">
          Diluted weighted average common shares
        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          71,346
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          71,877
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          71,340
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          71,970
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-bottom: 10pt; margin-left: 0pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-size: 8pt; margin-bottom: 10.0px; font-family: Times New Roman; width: 100%" cellspacing="0">
      <tr>
        <td colspan="17">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="17" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>WORLD FUEL SERVICES CORPORATION AND SUBSIDIARIES</b>
        </td>
      </tr>
      <tr>
        <td colspan="17" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>CONSOLIDATED STATEMENTS OF CASH FLOWS</b>
        </td>
      </tr>
      <tr>
        <td colspan="17" style="padding-left: 0.0px; text-align: center" valign="top">
          (UNAUDITED - IN THOUSANDS)
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="7" style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap" valign="top">
          For the Three Months ended
        </td>
        <td>

        </td>
        <td colspan="7" style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap" valign="top">
          For the Nine Months ended
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="7" style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt" valign="top">
          September 30,
        </td>
        <td>

        </td>
        <td colspan="7" style="padding-left: 0.0px; text-align: center; border-bottom: solid black 1.0pt" valign="top">
          September 30,
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          2014
        </td>
        <td>

        </td>
        <td colspan="3" style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          2013
        </td>
        <td>

        </td>
        <td colspan="3" style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          2014
        </td>
        <td>

        </td>
        <td colspan="3" style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          2013
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Cash flows from operating activities:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Net income including noncontrolling interest
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          54,460
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          50,297
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          151,350
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          153,765
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="top">
          Adjustments to reconcile net income including
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 25.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="top">
          noncontrolling interest to net cash provided by
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 25.0px; text-align: left" valign="top">
          operating activities:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 40.0px; text-align: left" valign="top">
          Depreciation and amortization
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          14,798
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          10,525
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          41,865
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          32,812
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 40.0px; text-align: left" valign="top">
          Provision for bad debt
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,193
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,863
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          3,533
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          5,675
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 40.0px; text-align: left" valign="top">
          Share-based payment award compensation costs
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          3,612
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          4,381
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          11,281
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          12,578
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 40.0px; text-align: left" valign="top">
          Other
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (6,387
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (413
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          2,771
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (462
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 40.0px; text-align: left" valign="top">
          Change in cash collateral with financial counterparties
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (29,725
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          20,516
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (30,915
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          19,793
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 40.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Changes in assets and liabilities, net of acquisitions
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          (10,892
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          (25,712
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          (50,820
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          (10,414
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 60.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Total adjustments
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          (27,401
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          11,160
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          (22,285
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          59,982
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Net cash provided by operating activities
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          27,059
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          61,457
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          129,065
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          213,747
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Cash flows from investing activities:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="top">
          Acquisition of businesses, net of cash acquired and other investments
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (66,510
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (14,997
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (230,715
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (40,412
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="top">
          Capital expenditures
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (17,088
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (25,642
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (37,102
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (50,286
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="top">
          Escrow payment related to an assumed obligation of an acquired
          business
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (21,724
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="top">
          Purchase of investments
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (76
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (1,206
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (21,588
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="top">
          Proceeds from the sale of short-term investments
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          21,588
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Other
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          278
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          (469
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          566
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          (469
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 30.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Net cash used in investing activities
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          (83,396
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          (41,108
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          (290,181
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          (91,167
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Cash flows from financing activities:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="top">
          Borrowings of debt, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          65,652
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          104,385
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          282,577
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          75,180
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="top">
          Dividends paid on common stock
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (2,648
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (2,678
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (7,948
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (8,020
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Other
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          (11,240
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          (22,025
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          (14,699
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          (28,431
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="padding-left: 30.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Net cash provided by financing activities
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          51,764
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          79,682
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          259,930
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          38,729
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="top">
          Effect of exchange rate changes on cash and
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          cash equivalents
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          (3,474
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          712
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          (2,331
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          (826
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Net (decrease) increase in cash and cash equivalents
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          (8,047
        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          100,743
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          96,483
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          160,483
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Cash and cash equivalents, as of beginning of period
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          396,591
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          232,480
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          292,061
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          172,740
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 4.0px" valign="top">
          Cash and cash equivalents, as of end of period
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          388,544
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          333,223
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          388,544
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          333,223
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-bottom: 10pt; margin-left: 0pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-size: 8pt; margin-bottom: 10.0px; font-family: Times New Roman; width: 100%" cellspacing="0">
      <tr>
        <td>

        </td>
        <td colspan="6">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="13" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>WORLD FUEL SERVICES CORPORATION AND SUBSIDIARIES</b>
        </td>
      </tr>
      <tr>
        <td colspan="13" style="padding-left: 0.0px; text-align: center" valign="top">
          <b>RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES</b>
        </td>
      </tr>
      <tr>
        <td colspan="13" style="padding-left: 0.0px; text-align: center" valign="top">
          (UNAUDITED - IN THOUSANDS, EXCEPT EARNINGS PER SHARE DATA)
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="5" style="text-align: center; padding-right: 0.0px; white-space: nowrap" valign="top">
          For the Three Months ended
        </td>
        <td>

        </td>
        <td colspan="5" style="text-align: center; padding-right: 0.0px; white-space: nowrap" valign="top">
          For the Nine Months ended
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="5" style="text-align: center; border-bottom: solid black 1.0pt" valign="top">
          September 30,
        </td>
        <td>

        </td>
        <td colspan="5" style="text-align: center; border-bottom: solid black 1.0pt" valign="top">
          September 30,
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          2014
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          2013
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          2014
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          2013
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Non-GAAP financial measures and reconciliation:
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          GAAP net income attributable to World Fuel
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          55,660
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          51,472
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          154,613
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          151,213
        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="top">
          Share-based compensation expense, net of income taxes <sup>(1)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          2,526
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          2,909
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          6,977
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          8,370
        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="top">
          Intangible asset amortization expense, net of income taxes <sup>(2)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          6,028
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          3,501
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          14,837
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          10,809
        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="top">
          Expenses related to the acquisition of Watson Petroleum
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="top">
          and Colt, net of income taxes<sup>(3)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          396
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          1,536
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Executive non-renewal charge, net of income taxes <sup>(4)</sup>
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          2,994
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          -
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 4.0px" valign="top">
          Non-GAAP net income attributable to World Fuel
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          64,610
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          57,882
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          180,957
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          170,392
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          GAAP diluted earnings per common share
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.78
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.72
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          2.17
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          2.10
        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="top">
          Share-based compensation expense, net of income taxes <sup>(1)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.04
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.04
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.10
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.12
        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="top">
          Intangible asset amortization expense, net of income taxes <sup>(2)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.08
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.05
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.21
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.15
        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left" valign="top">
          Expenses related to the acquisition of Watson Petroleum
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left; padding-right: 0.0px; white-space: nowrap" valign="top">
          and Colt, net of income taxes <sup>(3)</sup>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.01
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          0.02
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          -
        </td>
      </tr>
      <tr>
        <td style="padding-left: 15.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Executive non-renewal charge, net of income taxes <sup>(4)</sup>
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          0.04
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          -
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 4.0px" valign="top">
          Non-GAAP diluted earnings per common share
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          0.91
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          0.81
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          2.54
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          2.37
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      <sup>(1)</sup>The pre-tax amount of share-based compensation expense was
      $3,593 and $4,381 for the three months ended September 30, 2014 and
      2013, respectively, and $10,160 and $12,578 for the nine months ended
      September 30, 2014 and 2013, respectively.
    </p>
    <p>
      <sup>(2)</sup>The pre-tax amount of intangible asset amortization
      expense was $6,735 and $5,471 for the three months ended September 30,
      2014 and 2013, respectively, and $19,826 and $16,910 for the nine months
      ended September 30, 2014 and 2013, respectively.
    </p>
    <p>
      <sup>(3)</sup>The pre-tax amount of the expenses related to the
      acquisition of Watson Petroleum and Colt was $628 and $1,768 for the
      three and nine months ended September 30, 2014, respectively.
    </p>
    <p>
      <sup>(4)</sup>The pre-tax amount of the executive non-renewal charge was
      $4,751 for the nine months ended September 30, 2014.
    </p>
    <div style="text-indent: 0pt; margin-bottom: 10pt; margin-left: 0pt; width: 100%; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="font-size: 8pt; margin-bottom: 10.0px; font-family: Times New Roman; width: 100%" cellspacing="0">
      <tr>
        <td colspan="14">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="14" style="text-align: center" valign="top">
          <b>WORLD FUEL SERVICES CORPORATION AND SUBSIDIARIES</b>
        </td>
      </tr>
      <tr>
        <td colspan="14" style="text-align: center" valign="top">
          <b>BUSINESS SEGMENTS INFORMATION</b>
        </td>
      </tr>
      <tr>
        <td colspan="14" style="text-align: center" valign="top">
          (UNAUDITED - IN THOUSANDS)
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="5" style="text-align: center; padding-right: 0.0px; white-space: nowrap" valign="top">
          For the Three Months ended
        </td>
        <td>

        </td>
        <td colspan="5" style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap" valign="top">
          For the Nine Months ended
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="5" style="text-align: center; border-bottom: solid black 1.0pt" valign="top">
          September 30,
        </td>
        <td>

        </td>
        <td colspan="5" style="text-align: center; border-bottom: solid black 1.0pt" valign="top">
          September 30,
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          2014
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          2013
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          2014
        </td>
        <td>

        </td>
        <td colspan="2" style="padding-left: 0.0px; text-align: center; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          2013
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Revenue:
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Aviation segment
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          4,675,530
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          4,179,018
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          13,361,838
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          11,854,676
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Marine segment
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          3,725,612
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          3,575,777
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          10,738,646
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          11,260,025
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Land segment
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          3,312,321
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          2,738,866
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          9,506,350
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          8,042,593
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          11,713,463
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          10,493,661
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          33,606,834
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          31,157,294
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2" style="padding-left: 0.0px; text-align: left" valign="top">
          Gross profit:
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Aviation segment
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          96,235
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          89,758
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          246,980
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          242,783
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Marine segment
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          49,404
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          40,223
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          146,087
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          134,237
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Land segment
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          68,969
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          56,360
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          201,089
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          180,158
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          214,608
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          186,341
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          594,156
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          557,178
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2" style="padding-left: 0.0px; text-align: left" valign="top">
          Income from operations:
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Aviation segment
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          47,330
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          41,002
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          114,553
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          109,755
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Marine segment
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          20,933
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          17,019
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          62,903
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          56,340
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Land segment
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          19,108
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          15,106
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          60,020
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          63,608
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          87,371
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          73,127
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          237,476
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap" valign="bottom">
          229,703
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: left; padding-bottom: 2.0px" valign="top">
          Corporate overhead - unallocated
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          13,268
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          8,924
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          39,257
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: solid black 1.0pt" valign="bottom">
          29,823
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          74,103
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          64,203
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          198,219
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; text-align: right; padding-right: 0.0px; white-space: nowrap; border-bottom: double black 2.25pt" valign="bottom">
          199,880
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>
      CONTACT:<br>World Fuel Services Corporation<br>Ira M. Birns, Executive
      Vice President &amp;<br>Chief Financial Officer<br>or<br>Glenn Klevitz,
      Vice President &amp; Assistant Treasurer<br>305-428-8000
    </p>
    <p>

    </p>
  </body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
