XML 23 R5.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Statements of Income and Comprehensive Income - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Income Statement [Abstract]      
Revenue $ 31,337.0 $ 20,358.3 $ 36,819.0
Cost of revenue 30,548.8 19,506.5 35,707.0
Gross profit 788.2 851.8 1,112.0
Operating expenses:      
Compensation and employee benefits 386.7 366.9 470.4
General and administrative 247.6 311.1 322.2
Asset impairments 4.7 25.6 0.0
Restructuring charges 6.6 10.3 19.7
Total operating expenses 645.6 714.0 812.3
Income from operations 142.6 137.9 299.7
Non-operating income (expenses), net:      
Interest expense and other financing costs, net (40.2) (44.9) (73.9)
Other income (expense), net (2.3) 68.8 11.5
Total non-operating income (expense), net (42.5) 23.9 (62.4)
Income (loss) before income taxes 100.0 161.7 237.3
Provision for income taxes 25.8 52.1 56.2
Net income (loss) including noncontrolling interest 74.2 109.6 181.1
Net income (loss) attributable to noncontrolling interest 0.5 0.1 2.2
Net income (loss) attributable to World Fuel $ 73.7 $ 109.6 $ 178.9
Basic earnings (loss) per common share (in dollars per share) $ 1.17 $ 1.72 $ 2.71
Basic weighted average common shares (in shares) 62.9 63.7 66.1
Diluted earnings (loss) per common share (in dollars per share) $ 1.16 $ 1.71 $ 2.69
Diluted weighted average common shares (in shares) 63.3 64.0 66.5
Comprehensive income:      
Net income (loss) including noncontrolling interest $ 74.2 $ 109.6 $ 181.1
Other comprehensive income (loss):      
Foreign currency translation adjustments (13.7) 13.8 8.2
Cash flow hedges, net of income tax expense (benefit) of $3.3, $0.0, and ($8.7) for 2021, 2020, and 2019, respectively 9.6 (0.1) (25.5)
Total other comprehensive income (loss) (4.1) 13.7 (17.3)
Comprehensive income (loss) including noncontrolling interest 70.1 123.3 163.7
Comprehensive income (loss) attributable to noncontrolling interest 0.5 0.0 (2.7)
Comprehensive income (loss) attributable to World Fuel $ 69.6 $ 123.3 $ 166.5