XML 78 R4.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Consolidated Statements of Income and Comprehensive Income - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Income Statement [Abstract]      
Revenue $ 36,819.0 $ 39,750.3 $ 33,695.5
Cost of revenue 35,707.0 38,731.8 32,763.3
Gross profit 1,112.0 1,018.5 932.2
Operating expenses:      
Compensation and employee benefits 470.4 442.1 428.2
General and administrative 322.2 299.6 306.9
Goodwill & Other Impairments 0.0 0.0 91.9
Restructuring charges 19.7 17.1 59.6
Total operating expenses 812.3 758.8 886.6
Income from operations 299.7 259.7 45.6
Non-operating expenses, net:      
Interest expense and other financing costs, net (73.9) (71.0) (60.3)
Other income (expense), net 11.5 (3.8) (6.4)
Total non-operating expenses, net (62.4) (74.8) (66.7)
Income (loss) before income taxes 237.3 184.9 (21.1)
Provision for income taxes 56.2 55.9 149.2
Net income (loss) including noncontrolling interest 181.1 129.0 (170.3)
Net income (loss) attributable to noncontrolling interest 2.2 1.3 (0.1)
Net income (loss) attributable to World Fuel $ 178.9 $ 127.7 $ (170.2)
Basic earnings per common share (in dollars per share) $ 2.71 $ 1.89 $ (2.50)
Basic weighted average common shares (in shares) 66.1 67.4 68.1
Diluted earnings per common share (in dollars per share) $ 2.69 $ 1.89 $ (2.50)
Diluted weighted average common shares (in shares) 66.5 67.7 68.1
Comprehensive income:      
Net income (loss) including noncontrolling interest $ 181.1 $ 129.0 $ (170.3)
Other comprehensive income (loss):      
Foreign currency translation adjustments 8.2 (27.3) 30.1
Cash flow hedges, net of income tax benefit of $8.7, expense of $7.0, and benefit of $0.3 for 2019, 2018, and 2017, respectively (25.5) 21.0  
Cash flow hedges, net of income tax benefit of $8.7, expense of $7.0, and benefit of $0.3 for 2019, 2018, and 2017, respectively     (0.3)
Other comprehensive income (loss): (17.3) (6.3) 29.8
Comprehensive income (loss) including noncontrolling interest 163.7 122.6 (140.5)
Comprehensive income (loss) attributable to noncontrolling interest (2.7) (1.2) 1.5
Comprehensive income (loss) attributable to World Fuel $ 166.5 $ 123.8 $ (142.0)