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Summary Quarterly Information (Unaudited)
 12 Months Ended
Dec. 31, 2015
Summary Quarterly Information (Unaudited)  
Summary Quarterly Information (Unaudited)

12. Summary Quarterly Information (Unaudited)

The following is a summary of the unaudited quarterly results for 2015 and 2014 (in millions, except earnings per share data):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

March 31,

    

June 30,

    

September 30,

    

December 31,

 

 

2015 (1)

 

2015 (1)

 

2015 (1)(2)

 

2015 (1)(2)

Revenue

 

$
7,340.7

 

$
8,496.4

 

$
7,810.7

 

$
6,731.9

Gross profit

 

$
215.4

 

$
190.4

 

$
226.7

 

$
228.0

Net income including noncontrolling interest

 

$
54.6

 

$
28.4

 

$
48.6

 

$
51.4

Net income attributable to World Fuel

 

$
55.6

 

$
29.9

 

$
49.6

 

$
51.8

Basic earnings per common share (7)

 

$
0.79

 

$
0.42

 

$
0.71

 

$
0.75

Diluted earnings per common share (7)

 

$
0.78

 

$
0.42

 

$
0.71

 

$
0.74

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

March 31,

    

June 30,

    

September 30,

    

December 31,

 

 

2014 (3)

 

2014 (3)(4)

 

2014 (3)(4)(5)

 

2014 (3)(4)(5)(6)

Revenue

 

$
10,550.9

 

$
11,342.5

 

$
11,713.4

 

$
9,779.5

Gross profit

 

$
188.0

 

$
191.5

 

$
214.6

 

$
219.5

Net income including noncontrolling interest

 

$
50.5

 

$
46.3

 

$
54.4

 

$
67.1

Net income attributable to World Fuel

 

$
50.7

 

$
48.2

 

$
55.6

 

$
67.1

Basic earnings per common share (7)

 

$
0.72

 

$
0.68

 

$
0.79

 

$
0.95

Diluted earnings per common share

 

$
0.71

 

$
0.68

 

$
0.78

 

$
0.94

 

(1)

Includes the after-tax termination of employment agreement of $2.3 million, or $0.03 per basic and diluted share in the first quarter of 2015.

(2)

Includes the Pester Marketing operations since September 1, 2015 as a result of the acquisition.

(3)

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

(4)

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.

(5)

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

(6)

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.

(7)

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.