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Pay vs Performance Disclosure - USD ($)

12 Months Ended

Dec. 31, 2024

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Pay vs Performance Disclosure

Pay vs Performance Disclosure, Table

Pay Versus Performance

As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and Item 402(v) of Regulation S-K, we are providing the following information about “compensation actually paid” (or “CAP”) for 2024 for this proxy statement's NEOs, as well as for our named executive officers for 2023, 2022, 2021 and 2020 (each, including 2024, a "Covered Year"), as defined by SEC rules, and certain of our financial performance results for the Covered Years. The CAP amounts disclosed in the table below may not necessarily reflect the final compensation that our NEOs actually received for their service in the Covered Years. For further information concerning our variable pay-for-performance philosophy and how we align executive compensation with our performance, refer to the “Compensation Discussion and Analysis” section of this proxy statement.

PAY VERSUS PERFORMANCE



					Value of Initial $100 Investment Based On:


Year	Summary Compensation Table Total for PEO ($)	Compensation Actually Paid to PEO ($)	Average Summary Compensation Table Total for Non-PEO NEOs ($)	Average Compensation Actually Paid to Non-PEO NEOs ($)	Company Total Shareholder Return ($)	Peer Group Total Shareholder Return ($)	Net Income ($M)	Adj. EBITDA ($M)

(a)	(b)	(c)	(d)	(e)	(f)	(g)	(h)	(i)
2024	6,704,733	11,853,643	2,772,665	4,428,945	70.01	177.30	67.40	361.50
2023	6,802,243	(1,164,913)	2,821,871	551,939	56.55	167.71	52.90	386.40
2022	15,272,338	14,196,826	3,722,299	3,112,615	66.22	169.96	114.10	380.30
2021	5,141,566	4,046,678	1,797,915	1,687,476	62.87	102.56	73.70	241.30
2020	6,514,957	(7,068,994)	2,134,192	(3,412,451)	72.87	66.32	109.60	261.40

Column (b). Reflects compensation amounts reported in the “Summary Compensation Table” (“SCT”) for our principal executive officer (“PEO”), for the respective years shown. Our CEO, Michael J. Kasbar, was our PEO for each of the Covered Years shown in the table.

Column (c). CAP for our PEO in each of the Covered Years reflects the respective amounts set forth in column (b), adjusted as set forth in the table below, as determined in accordance with SEC rules. The dollar amounts reflected in column (c) do not reflect the actual amount of compensation earned by or paid to our PEO during the applicable year. For information regarding decisions made by our Compensation Committee with respect to the PEO’s compensation for each Covered Year, please see the “Compensation Discussion and Analysis” section of this proxy statement and the proxy statements for the 2025, 2024, 2023, 2022 and 2021 annual meetings of shareholders.



PEO (Mr. Kasbar)	2024 ($)	2023 ($)	2022 ($)	2021 ($)	2020 ($)


Total Compensation as reported in Summary Compensation Table (SCT)	6,704,733	6,802,243	15,272,338	5,141,566	6,514,957


Less: Grant date fair value of equity awards granted during the Covered Year, as reported in SCT	(4,500,018)	(4,500,008)	(11,560,815)	(3,100,053)	(4,532,078)


Plus: Fair value of outstanding equity awards granted during the Covered Year—value at end of the Covered Year	4,767,127	3,067,214	11,996,540	2,152,321	4,541,174


+/-: Change in fair value from prior year-end to Covered Year-end of outstanding and unvested equity awards granted in prior Covered Years	4,635,052	(5,887,591)	(1,187,768)	(1,246,494)	(11,159,476)


Plus: Fair value at vesting of equity awards granted during Covered Year that vested during Covered Year	0	0	0	0	0


+/-: Change in fair value (from prior year-end to vesting date) of equity awards granted prior to Covered Year that vested during Covered Year	246,749	(646,771)	(323,469)	1,099,338	(2,433,571)


Less: Fair value as of prior year-end of equity awards granted prior to Covered Year that were forfeited during Covered Year	0	0	0	0	0


Compensation Actually Paid ($)	11,853,643	(1,164,913)	14,196,826	4,046,678	(7,068,994)

Equity Valuations: For PRSUs, the grant date fair value of awards used for SCT calculations assumes target performance. To determine the year-end fair values used in the CAP calculations, we have updated the performance expectations to reflect the latest performance estimates for unvested and outstanding awards at each fiscal year-end date.

Column (d). The following non-PEO NEOs are included in the average figures shown for each of 2022, 2021 and 2020: Ira M. Birns, John P. Rau, Jeffrey P. Smith and Michael J. Crosby. For 2023 & 2024, only Ira M. Birns and John P. Rau are included.

Column (e). Average CAP for our non-PEO NEOs in each Covered Year reflects the respective amounts set forth in column (d), adjusted as set forth in the table below, as determined in accordance with SEC rules. The dollar amounts reflected in column (e) do not reflect the actual amount of compensation earned by or paid to our non-PEO NEOs during the applicable year. For information regarding the decisions made by our Compensation Committee with respect to the non-PEO NEOs’ compensation for each fiscal year, please see the “Compensation Discussion and Analysis” section of this proxy statement and the proxy statements for the 2025, 2024, 2023, 2022 and 2021 annual meetings of shareholders.



	See Column (d) note above


Non-PEO NEOs	2024 ($)	2023 ($)	2022 ($)	2021 ($)	2020 ($)


Total Compensation as reported in Summary Compensation Table (SCT)	2,772,665	2,821,871	3,722,299	1,797,915	2,134,192


Less: Grant date fair value of equity awards granted during the Covered Year, as reported in SCT	(1,550,023)	(1,550,020)	(2,466,782)	(685,051)	(1,091,209)


Plus: Fair value of outstanding equity awards granted during the Covered Year—value at end of the Covered Year	1,642,028	1,056,497	2,239,264	459,667	823,037


+/-: Change in fair value from prior year-end to Covered Year-end of outstanding and unvested equity awards granted in prior Covered Years	1,512,525	(1,693,374)	(250,606)	(120,417)	(4,737,137)


Plus: Fair value at vesting of equity awards granted during Covered Year that vested during Covered Year	0	0	0	0	0


+/-: Change in fair value (from prior year-end to vesting date) of equity awards granted prior to Covered Year that vested during Covered Year	51,750	(83,034)	(11,460)	235,362	(541,334)


Less: Fair value as of prior year-end of equity awards granted prior to Covered Year that were forfeited during Covered Year	0	0	(120,100)	0	0


Compensation Actually Paid ($)	4,428,945	551,939	3,112,615	1,687,476	(3,412,451)

Equity Valuations: For PRSU awards, the grant date fair value of awards used for SCT calculations assumes target performance. To determine the year-end fair values used in the CAP calculations, we have updated the performance expectations to reflect the latest performance estimates for unvested and outstanding awards at each fiscal year-end date.

Column (f). For the relevant fiscal year, represents the cumulative total shareholder return (TSR) of World Kinect for the measurement periods ending on December 31 of each Covered Year. TSR for the Company and the peer group in column (g) was calculated as the yearly percentage change in cumulative TSR based on a deemed fixed investment of $100 at market close on December 31, 2019 and in accordance with Items 201(e) and 402(v) of Regulation S-K. Because fiscal years are presented in the table in reverse chronological order (from top to bottom), the table should be read from bottom to top for purposes of understanding cumulative returns over time.

Column (g). For the relevant fiscal year, represents the cumulative TSR of the S&P 500 Energy Index for the measurement periods ending on December 31 of each Covered Year.

Column (h). Reflects “Net Income” in our consolidated income statements included in our Annual Reports on Form 10-K for each of the years ended December 31, 2024, 2023, 2022, 2021 and 2020.

Column (i). Company-selected Measure is adjusted EBITDA, which is described below.

Relationship between Pay and Performance

The graphs below reflect the relationship of CAP to our PEO and Non-PEO NEOs (on average) in the Covered Years as compared to World Kinect’s TSR, net income and adjusted EBITDA for the Covered Years. The first graph below also reflects the relationship of World Kinect’s TSR to the peer group TSR for the Covered Years.

CAP, as required under the SEC rules, reflects adjusted values to unvested and vested equity awards during the years shown in the tables above, including based on year-end stock prices, various accounting valuation assumptions and projected performance modifiers, but it does not necessarily reflect actual amounts paid out for those awards. CAP generally fluctuates due to stock price achievement and varying levels of projected and actual achievement of performance goals. In 2020, CAP for both our PEO and the average of other Non-PEO NEOs is a negative number, as it is in 2023 for our PEO, reflecting the impact of the change in our stock price between fiscal years because of the significant portion of our executives’ compensation tied to equity with fair values based in part on stock price. For a discussion of how our Compensation Committee assessed our performance and our named executive officers’ pay each year, see “Compensation Discussion and Analysis” in this proxy statement and in the proxy statements for the 2024, 2023, 2022 and 2021 annual meetings of shareholders.

COMPENSATION ACTUALLY PAID VS. TOTAL SHAREHOLDER RETURN

COMPENSATION ACTUALLY PAID VS. NET INCOME & ADJUSTED EBITDA

Listed below are the financial measures which in our assessment represent the most important financial performance measures we used in 2024 to link CAP to our NEOs to the Company’s performance.


Financial Performance Measures		Explanation

Adjusted EPS		Adjusted diluted earnings per common share is a non-GAAP financial measure computed by dividing adjusted net income attributable to World Kinect and available to common shareholders by the sum of the weighted average number of shares of common stock, stock units, restricted stock entitled to dividends not subject to forfeiture and vested restricted stock units outstanding during the period and the number of additional shares of common stock that would have been outstanding if our outstanding potentially dilutive securities had been issued.

Adjusted ROIC		Adjusted return on invested capital is a non-GAAP financial measure defined as adjusted operating income (less minority interest) after tax, divided by average invested capital, which includes total debt plus equity less excess cash.

Adjusted EBITDA		Adjusted earnings before interest, taxes, depreciation and amortization is a non-GAAP financial measure defined as net income (loss) including noncontrolling interest and excluding the impact of interest, income taxes, and depreciation and amortization, in addition to acquisition and divestiture related expenses, costs associated with restructuring activities (including all costs associated with exit activities), impairments, gains or losses on sale of businesses, integration costs, non-operating legal settlements, and costs associated with the Finnish bid error.

Company Selected Measure Name

adjusted EBITDA

Named Executive Officers, Footnote

Peer Group Issuers, Footnote

Column (g). For the relevant fiscal year, represents the cumulative TSR of the S&P 500 Energy Index for the measurement periods ending on December 31 of each Covered Year.

PEO Total Compensation Amount

$ 6,704,733

$ 6,802,243

$ 15,272,338

$ 5,141,566

$ 6,514,957

PEO Actually Paid Compensation Amount

$ 11,853,643

(1,164,913)

14,196,826

4,046,678

(7,068,994)

Adjustment To PEO Compensation, Footnote



PEO (Mr. Kasbar)	2024 ($)	2023 ($)	2022 ($)	2021 ($)	2020 ($)


Total Compensation as reported in Summary Compensation Table (SCT)	6,704,733	6,802,243	15,272,338	5,141,566	6,514,957


Less: Grant date fair value of equity awards granted during the Covered Year, as reported in SCT	(4,500,018)	(4,500,008)	(11,560,815)	(3,100,053)	(4,532,078)


Plus: Fair value of outstanding equity awards granted during the Covered Year—value at end of the Covered Year	4,767,127	3,067,214	11,996,540	2,152,321	4,541,174


+/-: Change in fair value from prior year-end to Covered Year-end of outstanding and unvested equity awards granted in prior Covered Years	4,635,052	(5,887,591)	(1,187,768)	(1,246,494)	(11,159,476)


Plus: Fair value at vesting of equity awards granted during Covered Year that vested during Covered Year	0	0	0	0	0


+/-: Change in fair value (from prior year-end to vesting date) of equity awards granted prior to Covered Year that vested during Covered Year	246,749	(646,771)	(323,469)	1,099,338	(2,433,571)


Less: Fair value as of prior year-end of equity awards granted prior to Covered Year that were forfeited during Covered Year	0	0	0	0	0


Compensation Actually Paid ($)	11,853,643	(1,164,913)	14,196,826	4,046,678	(7,068,994)

Non-PEO NEO Average Total Compensation Amount

$ 2,772,665

2,821,871

3,722,299

1,797,915

2,134,192

Non-PEO NEO Average Compensation Actually Paid Amount

$ 4,428,945

551,939

3,112,615

1,687,476

(3,412,451)

Adjustment to Non-PEO NEO Compensation Footnote



	See Column (d) note above


Non-PEO NEOs	2024 ($)	2023 ($)	2022 ($)	2021 ($)	2020 ($)


Total Compensation as reported in Summary Compensation Table (SCT)	2,772,665	2,821,871	3,722,299	1,797,915	2,134,192


Less: Grant date fair value of equity awards granted during the Covered Year, as reported in SCT	(1,550,023)	(1,550,020)	(2,466,782)	(685,051)	(1,091,209)


Plus: Fair value of outstanding equity awards granted during the Covered Year—value at end of the Covered Year	1,642,028	1,056,497	2,239,264	459,667	823,037


+/-: Change in fair value from prior year-end to Covered Year-end of outstanding and unvested equity awards granted in prior Covered Years	1,512,525	(1,693,374)	(250,606)	(120,417)	(4,737,137)


Plus: Fair value at vesting of equity awards granted during Covered Year that vested during Covered Year	0	0	0	0	0


+/-: Change in fair value (from prior year-end to vesting date) of equity awards granted prior to Covered Year that vested during Covered Year	51,750	(83,034)	(11,460)	235,362	(541,334)


Less: Fair value as of prior year-end of equity awards granted prior to Covered Year that were forfeited during Covered Year	0	0	(120,100)	0	0


Compensation Actually Paid ($)	4,428,945	551,939	3,112,615	1,687,476	(3,412,451)

Compensation Actually Paid vs. Total Shareholder Return

COMPENSATION ACTUALLY PAID VS. TOTAL SHAREHOLDER RETURN

Compensation Actually Paid vs. Net Income

COMPENSATION ACTUALLY PAID VS. NET INCOME & ADJUSTED EBITDA

Compensation Actually Paid vs. Company Selected Measure

COMPENSATION ACTUALLY PAID VS. NET INCOME & ADJUSTED EBITDA

Tabular List, Table

Listed below are the financial measures which in our assessment represent the most important financial performance measures we used in 2024 to link CAP to our NEOs to the Company’s performance.


Financial Performance Measures		Explanation

Adjusted EPS		Adjusted diluted earnings per common share is a non-GAAP financial measure computed by dividing adjusted net income attributable to World Kinect and available to common shareholders by the sum of the weighted average number of shares of common stock, stock units, restricted stock entitled to dividends not subject to forfeiture and vested restricted stock units outstanding during the period and the number of additional shares of common stock that would have been outstanding if our outstanding potentially dilutive securities had been issued.

Adjusted ROIC		Adjusted return on invested capital is a non-GAAP financial measure defined as adjusted operating income (less minority interest) after tax, divided by average invested capital, which includes total debt plus equity less excess cash.

Adjusted EBITDA		Adjusted earnings before interest, taxes, depreciation and amortization is a non-GAAP financial measure defined as net income (loss) including noncontrolling interest and excluding the impact of interest, income taxes, and depreciation and amortization, in addition to acquisition and divestiture related expenses, costs associated with restructuring activities (including all costs associated with exit activities), impairments, gains or losses on sale of businesses, integration costs, non-operating legal settlements, and costs associated with the Finnish bid error.

Total Shareholder Return Amount

$ 70.01

56.55

66.22

62.87

72.87

Peer Group Total Shareholder Return Amount

177.3

167.71

169.96

102.56

66.32

Net Income (Loss)

$ 67,400,000

$ 52,900,000

$ 114,100,000

$ 73,700,000

$ 109,600,000

Company Selected Measure Amount

361,500,000

386,400,000

380,300,000

241,300,000

261,400,000

PEO Name

Michael J. Kasbar

Additional 402(v) Disclosure

Column (h). Reflects “Net Income” in our consolidated income statements included in our Annual Reports on Form 10-K for each of the years ended December 31, 2024, 2023, 2022, 2021 and 2020.

Column (i). Company-selected Measure is adjusted EBITDA, which is described below.