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Consolidated Statements of Income and Comprehensive Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Income Statement [Abstract]        
Revenue $ 3,158.3 $ 9,459.4 $ 11,173.5 $ 18,138.2
Cost of revenue 2,944.5 9,190.8 10,700.9 17,618.5
Gross profit 213.9 268.6 472.6 519.7
Operating expenses:        
Compensation and employee benefits 95.9 112.0 198.3 220.3
General and administrative 84.4 79.5 168.2 150.1
Asset impairments 18.6 0.0 18.6 0.0
Restructuring charges 3.1 1.9 4.8 3.7
Total operating expenses 202.0 193.4 389.9 374.1
Income from operations 11.9 75.2 82.7 145.6
Non-operating expenses, net:        
Interest expense and other financing costs, net (10.0) (20.2) (25.3) (39.6)
Other income (expense), net (4.9) 2.6 (2.7) 3.0
Total non-operating expenses, net (14.9) (17.6) (28.1) (36.6)
Income (loss) before income taxes (3.0) 57.6 54.6 109.0
Provision for income taxes 7.7 20.0 23.7 34.0
Net income (loss) including noncontrolling interest (10.7) 37.6 31.0 74.9
Net income (loss) attributable to noncontrolling interest (0.4) 0.6 (0.2) 0.7
Net income (loss) attributable to World Fuel $ (10.2) $ 37.0 $ 31.2 $ 74.2
Basic earnings per common share (in dollars per share) $ (0.16) $ 0.56 $ 0.49 $ 1.11
Basic weighted average common shares (in shares) 63.3 66.7 64.1 66.9
Diluted earnings per common share (in dollars per share) $ (0.16) $ 0.55 $ 0.48 $ 1.10
Diluted weighted average common shares (in shares) 63.3 67.0 64.4 67.2
Comprehensive income:        
Net income (loss) including noncontrolling interest $ (10.7) $ 37.6 $ 31.0 $ 74.9
Other comprehensive income (loss):        
Foreign currency translation adjustments 5.1 (6.0) (27.9) (5.9)
Cash flow hedges, net of income tax benefit of $7.2 and benefit of $1.1 for the three months ended June 30, 2020 and 2019, respectively, and net of income tax expense of $0.2 and benefit of $5.2 for the six months ended June 30, 2020 and 2019, respectively (21.0) (2.9) 0.7 (14.7)
Other comprehensive income (loss) (16.0) (8.9) (27.2) (20.6)
Comprehensive income (loss) including noncontrolling interest (26.7) 28.7 3.7 54.3
Comprehensive income (loss) attributable to noncontrolling interest 0.0 0.0 0.0 (0.7)
Comprehensive income (loss) attributable to World Fuel $ (26.7) $ 28.7 $ 3.7 $ 55.0