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Acquisitions, Assets and Liabilities Held for Sale (Tables) | 9 Months Ended
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Sep. 30, 2016
Business Combinations [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes the aggregate consideration paid for all 2016 acquisitions and the provisional amounts of the assets acquired and liabilities assumed recognized at the acquisition date. The Company is in the process of finalizing the valuations of certain acquired assets and assumed liabilities; thus, the provisional measurements of these acquired assets and assumed liabilities are subject to change and will be finalized no later than one year from the acquisition date.
|  | Total |
Cash paid for acquisition of businesses |  | $ | 247.9 |
Amounts due to sellers |  | 14.5 |
Estimated purchase price |  | $ | 262.4 |
Assets acquired: |  |
Accounts and notes receivable |  | $ | 60.4 |
Inventories |  | 33.7 |
Property and equipment |  | 44.2 |
Goodwill and identifiable intangible assets |  | 172.0 |
Other current and long-term assets |  | 11.2 |
Liabilities assumed: |  |  |
Accounts payable |  | (33.0 | )
Accrued expenses and other current liabilities |  | (25.9 | )
Long-term liabilities and deferred tax liabilities |  | (0.3 | )
Estimated purchase price |  | $ | 262.4 |
Business Acquisition, Pro Forma Information | The following presents the unaudited pro forma results for 2015 as if the 2015 acquisitions had been completed on January 1, 2015 (in millions, except per share data):
|  | Three Months Ended |  |  |  | Nine Months Ended |
|  | September 30, |  |  |  | September 30, |
(In millions, except per share data) |  | 2015 |  |  |  | 2015 |
Revenues |  | $ | 7,948.7 |  |  |  | $ | 24,071.1 |
Net income attributable to World Fuel |  | 52.0 |  |  |  | 139.9 |
Earnings per common share: |  |  |  |  |
Basic earnings per common share |  | $ | 0.74 |  |  |  | $ | 1.98 |
Diluted earnings per common share |  | $ | 0.74 |  |  |  | $ | 1.97 |
The following presents the unaudited pro forma results for 2016 and 2015 as if 2016 acquisitions had been completed on January 1, 2015:
|  | Unaudited Supplemental Pro Forma Consolidated Results |
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
(In millions, except per share data) |  | 2016 |  |  | 2015 |  |  | 2016 |  |  | 2015 |
Revenues |  | $ | 7,399.8 |  |  | $ | 8,315.4 |  |  | $ | 19,797.6 |  |  | $ | 25,202.0 |
Net income attributable to World Fuel |  | 42.7 |  |  | 49.2 |  |  | 133.2 |  |  | 142.3 |
Earnings per common share: |  |  |  |  |  |  |  |
Basic earnings per common share |  | $ | 0.62 |  |  | $ | 0.70 |  |  | $ | 1.92 |  |  | $ | 2.02 |
Diluted earnings per common share |  | $ | 0.61 |  |  | $ | 0.70 |  |  | $ | 1.91 |  |  | $ | 2.00 |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2)-(3) -URI http://asc.fasb.org/extlink&oid=65885119&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=73530397&loc=d3e4845-128472 + Details
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