XML 22 R5.htm IDEA: XBRL DOCUMENT v3.24.0.1
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Income Statement [Abstract]      
Revenue $ 47,710.6 $ 59,043.1 $ 31,337.0
Cost of revenue 46,652.4 57,954.1 30,548.8
Gross profit 1,058.2 1,089.1 788.2
Operating expenses:      
Compensation and employee benefits 512.3 507.4 386.7
General and administrative 308.0 308.7 247.6
Asset impairments 32.8 0.6 4.7
Restructuring charges 7.2   6.6
Total operating expenses 860.2 815.8 645.6
Income (loss) from operations 198.0 273.2 142.6
Non-operating income (expenses), net:      
Interest expense and other financing costs, net (127.7) (110.6) (40.2)
Other income (expense), net (3.6) (17.5) (2.3)
Total non-operating income (expense), net (131.3) (128.1) (42.5)
Income (loss) before income taxes 66.7 145.1 100.0
Provision for income taxes 13.0 29.2 25.8
Net income (loss) including noncontrolling interest 53.7 115.9 74.2
Net income (loss) attributable to noncontrolling interest 0.8 1.7 0.5
Net income (loss) attributable to World Kinect $ 52.9 $ 114.1 $ 73.7
Basic earnings (loss) per common share (in dollars per share) $ 0.86 $ 1.83 $ 1.17
Basic weighted average common shares (in shares) 61.4 62.3 62.9
Diluted earnings (loss) per common share (in dollars per share) $ 0.86 $ 1.82 $ 1.16
Diluted weighted average common shares (in shares) 61.7 62.7 63.3
Comprehensive income:      
Net income (loss) including noncontrolling interest $ 53.7 $ 115.9 $ 74.2
Other comprehensive income (loss):      
Foreign currency translation adjustments 19.9 (45.5) (13.7)
Cash flow hedges, net of income tax expense (benefit) of ($2.7), $7.6, and $3.3 for 2023, 2022, and 2021, respectively (8.1) 21.6 9.6
Total other comprehensive income (loss) 11.8 (24.0) (4.1)
Comprehensive income (loss) including noncontrolling interest 65.5 91.9 70.1
Comprehensive income (loss) attributable to noncontrolling interest 0.8 1.7 0.5
Comprehensive income (loss) attributable to World Kinect $ 64.7 $ 90.2 $ 69.6