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Summary Quarterly Information (Unaudited)
 12 Months Ended
Dec. 31, 2014
Summary Quarterly Information (Unaudited)  
Summary Quarterly Information (Unaudited)

12. Summary Quarterly Information (Unaudited)

The following is a summary of the unaudited quarterly results for 2014 and 2013 (in thousands, except earnings per share data):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

March 31,

    

June 30,

    

September 30,

    

December 31,

 

 

2014 (1)

 

2014 (1)(2)

 

2014 (1)(2)(3)

 

2014 (1)(2)(3)(4)

Revenue

 

$
10,550,896 

 

$
11,342,475 

 

$
11,713,463 

 

$
9,779,555 

Gross profit

 

$
188,032 

 

$
191,516 

 

$
214,608 

 

$
219,466 

Net income including noncontrolling interest

 

$
50,506 

 

$
46,384 

 

$
54,460 

 

$
67,057 

Net income attributable to World Fuel

 

$
50,727 

 

$
48,226 

 

$
55,660 

 

$
67,134 

Basic earnings per common share (5)

 

$
0.72 

 

$
0.68 

 

$
0.79 

 

$
0.95 

Diluted earnings per common share

 

$
0.71 

 

$
0.68 

 

$
0.78 

 

$
0.94 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

March 31,

    

June 30,

    

September 30,

    

December 31,

 

 
2013 

 
2013 

 
2013 

 
2013 

Revenue

 

$
10,184,029 

 

$
10,479,604 

 

$
10,493,661 

 

$
10,404,653 

Gross profit

 

$
182,379 

 

$
188,458 

 

$
186,341 

 

$
195,580 

Net income including noncontrolling interest

 

$
51,111 

 

$
52,357 

 

$
50,297 

 

$
53,395 

Net income attributable to World Fuel

 

$
48,725 

 

$
51,016 

 

$
51,472 

 

$
51,862 

Basic earnings per common share (5)

 

$
0.68 

 

$
0.71 

 

$
0.72 

 

$
0.73 

Diluted earnings per common share (5)

 

$
0.68 

 

$
0.71 

 

$
0.72 

 

$
0.73 

 

(1)

Includes the Watson Petroleum operations since March 7, 2014 as a result of the acquisition.

(2)

Includes after-tax executive non-renewal charge of $3.0 million, or $0.04 per basic and diluted share in the second quarter of 2014.

(3)

Includes the Colt operations since July 29, 2014 as a result of the acquisition.

(4)

Includes after-tax gain on the sale of the crude oil joint venture interests of $9.9 million, or $0.14 per basic and diluted share in the fourth quarter of 2014.

(5)

Basic and diluted earnings per share are computed independently for each quarter and the full year based upon respective weighted average shares outstanding. Therefore, the sum of the quarterly basic and diluted earnings per share amounts may not equal the annual basic and diluted earnings per share amounts reported.