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Acquisitions (Tables)

9 Months Ended

Sep. 30, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of Allocation of the Purchase Price to the Fair Value of the Assets Acquired and Liabilities Assumed

The following table summarizes the fair value of the aggregate consideration as well as the final allocation of the purchase price to the fair value of the assets acquired and liabilities assumed (in millions):

																		Final Purchase Price Allocation
Consideration:
Cash paid at closing																		$	642.7
Working capital adjustment paid to seller																		2.3
Common stock issued to seller																		50.0
Amount due to sellers																		100.0
Total fair value of consideration																		$	795.0
Assets acquired and liabilities assumed:
Cash																		$	3.3
Accounts receivable																		109.8
Inventory																		50.9
Property, plant and equipment																		126.6
Identifiable intangible assets subject to amortization (1)																		162.5
Identifiable intangible assets not subject to amortization (2)																		29.3
Accounts payable																		(38.0)
Other assets and liabilities, net (3)																		(37.3)
Net identifiable assets acquired																		407.0
Goodwill (4)																		388.0
Net assets acquired																		$	795.0

(1)Identifiable intangible assets subject to amortization primarily consist of customer and network relationships and other identifiable assets which will be amortized over a weighted average life of 11.6 years.

(2)Identifiable intangible assets not subject to amortization include trademarks and trade names acquired.

(3)Includes the recognition of right of use assets of $45.0 million and lease liabilities of $46.0 million.

(4)Goodwill is attributable primarily to the expected synergies and other benefits that we believe will result from combining the acquired operations with the operations of our land segment. We anticipate that all of the goodwill assigned to the land segment will be deductible for tax purposes.

Schedule of Unaudited Pro Forma Combined Financial Information

The following presents unaudited pro forma combined financial information of the Company for the three and nine months ended September 30, 2021 as if the acquisition of Flyers had been completed on January 1, 2021 (in millions):

(unaudited)			Three Months Ended September 30, 2021						Nine Months Ended September 30, 2021
Revenue			$	9,071.9					$	23,212.9
Net income attributable to World Fuel			$	36.7					$	90.2

X

- 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/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(2)
-URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(3)
-URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

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- References

No definition available.

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X

- 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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=128092470&loc=d3e4845-128472

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