WORLD FUEL SERVICES CORPORATION INT Income Statement

World fuel services corporation (INT)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Sep'09	Jun'09
Revenues
8,015,200	9,358,100	9,322,700	9,459,400	8,678,800	9,988,700	10,429,500	10,150,800	9,181,300	8,872,000	8,543,000	8,086,200	8,194,300	7,792,200	7,399,800	6,633,000	5,190,800	6,733,600	7,810,700	8,496,400	7,340,700	9,784,900	11,713,500	11,342,500	10,550,900	10,404,606	10,493,661	10,479,604	10,184,029	9,935,813	9,911,673	9,618,797	9,479,055	9,323,947	9,510,792	8,708,709	7,079,406	5,828,777	4,987,074	4,397,275	3,918,021	3,202,653	2,533,340
Cost of revenue
7,756,400	9,071,500	9,017,000	9,190,800	8,427,700	9,726,400	10,162,800	9,904,700	8,937,900	8,642,100	8,303,100	7,855,200	7,962,900	7,569,900	7,163,100	6,414,500	4,969,300	6,505,100	7,584,000	8,306,000	7,125,300	9,559,900	11,498,900	11,151,000	10,362,900	10,208,984	10,307,320	10,291,146	10,001,650	9,772,476	9,730,921	9,446,674	9,321,820	9,161,661	9,339,945	8,543,607	6,942,638	5,705,130	4,874,967	4,289,706	3,819,203	3,107,921	2,441,772
Gross profit
258,700	286,600	305,700	268,600	251,100	262,200	266,700	246,200	243,400	229,900	239,900	231,000	231,400	222,300	236,700	218,500	221,500	228,500	226,700	190,400	215,400	225,000	214,600	191,500	188,000	195,622	186,341	188,458	182,379	163,337	180,752	172,123	157,235	162,286	170,847	165,102	136,768	123,647	112,107	107,569	98,818	94,732	91,568
Operating expenses:
Compensation and employee benefits
104,200	117,200	129,200	113,900	110,100	100,100	117,900	110,200	113,900	113,800	107,600	102,300	104,500	107,100	106,600	103,700	95,900	95,500	94,200	87,500	88,600	86,100	85,200	77,400	71,100	73,642	72,184	72,745	69,429	60,809	65,843	56,183	54,527	56,114	57,215	54,877	47,069	45,702	43,048	38,900	34,801	32,359	35,079
Provision for bad debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,500	2,500	1,500	-	1,600	2,300	1,300	300	1,200	1,200	1,100	6,025	1,863	2,709	1,103	377	3,631	641	141	1,424	2,422	3,531	796	1,100	1,097	1,696	369	1,774	464
General and administrative
83,700	89,300	82,800	79,500	70,600	81,800	70,600	74,900	72,300	81,900	71,000	77,400	76,600	96,600	70,300	66,800	63,100	72,000	64,500	59,000	54,000	60,100	54,100	53,100	51,500	51,335	48,091	44,268	44,906	47,790	40,230	42,941	43,311	40,329	40,285	40,591	33,378	28,255	22,875	21,909	21,523	19,726	19,898
Total operating expenses
187,900	226,200	212,000	193,400	180,700	199,000	188,500	185,100	186,200	347,200	178,600	179,700	181,100	198,200	178,400	173,000	160,500	162,300	160,300	148,800	143,900	146,500	140,500	131,700	123,700	131,002	122,138	119,722	115,438	108,976	109,704	99,765	97,979	97,867	99,922	98,999	81,243	75,057	67,020	62,505	56,693	53,859	55,441
Income from operations
70,800	60,500	93,600	75,200	70,400	63,200	78,200	61,100	57,200	-117,200	61,300	51,200	50,300	24,100	58,200	45,600	61,000	66,200	66,400	41,600	71,500	78,500	74,100	59,800	64,300	64,620	64,203	68,736	66,941	54,361	71,048	72,358	59,256	64,419	70,925	66,103	55,525	48,590	45,087	45,064	42,125	40,873	36,127
Non-operating expenses, net:
Interest Income (Expense) and Other Financial Costs, Net
-15,400	-14,800	-19,500	-20,200	-19,400	-18,500	-18,300	-17,900	-16,300	-18,000	-15,800	-13,800	-12,700	-13,200	-10,300	-8,100	-7,600	-8,300	-7,900	-6,400	-7,300	-7,300	-8,800	-4,700	-4,400	-4,482	-4,580	-4,579	-3,659	-4,694	-4,305	-5,437	-4,661	-27,439	4,791	4,298	2,525	3,555	989	841	-640	-761	-803
Other income (expense), net
2,200	11,800	-3,300	2,600	400	-1,800	1,900	-1,600	-2,300	-1,300	-900	-2,600	-1,600	-8,700	500	-600	1,300	1,400	1,900	-1,600	300	17,300	2,600	1,500	1,900	807	-1,135	-192	120	353	838	-88	566	-290	-1,643	-83	-928	989	-209	593	36	-578	242
Total non-operating expenses, net
-13,200	-3,000	-22,800	-17,600	-19,000	-20,300	-16,400	-19,500	-18,600	-19,300	-16,700	-16,400	-14,300	-21,900	-9,800	-8,700	-6,300	-6,900	-6,000	-8,000	-7,000	10,000	-6,200	-3,200	-2,500	-3,675	-5,715	-4,771	-3,539	-4,341	-3,467	-5,525	-4,095	-4,501	-6,434	-4,381	-3,453	-1,286	-1,198	-248	-604	-1,339	-561
Income (loss) before income taxes
57,600	57,500	70,900	57,600	51,300	42,900	61,800	41,600	38,600	-136,700	44,600	34,900	36,100	2,000	48,400	36,900	54,800	59,200	60,400	33,600	64,500	88,500	67,900	56,600	61,800	60,845	58,488	63,965	63,402	50,020	67,581	66,833	55,161	59,918	64,491	61,722	52,072	47,304	43,889	44,816	41,521	39,534	35,566
Income Tax Expense (Benefit)
16,000	700	21,500	20,000	14,000	13,200	23,000	12,400	7,300	57,000	82,600	4,600	5,000	100	5,400	7,100	3,100	15,000	17,700	4,600	9,900	18,700	13,400	10,200	11,300	7,410	8,191	11,608	12,291	4,995	14,683	11,951	6,615	6,888	10,649	11,049	10,415	8,066	7,515	7,765	7,681	10,437	7,623
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
41,600	56,800	49,400	37,600	37,300	29,800	38,700	29,200	31,300	-193,800	-37,900	30,300	31,100	2,000	43,000	29,800	51,600	44,200	42,700	29,000	54,600	69,700	54,500	46,400	50,500	53,435	50,297	52,357	51,111	45,025	52,898	54,882	48,546	53,030	53,842	50,673	41,657	39,238	36,374	37,051	33,840	29,097	27,943
Net income (loss) attributable to noncontrolling interest
200	300	1,200	600	100	100	600	500	100	-600	600	200	-300	0	300	-200	-100	-400	-1,000	-1,500	-1,000	-100	-1,200	-1,800	-200	1,548	-1,175	1,341	2,386	2,189	1,404	6,282	2,131	2,968	1,187	470	548	-192	-381	74	137	25	201
Net Income (Loss) Attributable to Parent
41,400	56,500	48,200	37,000	37,200	29,600	38,200	28,700	31,200	-193,000	-38,500	30,000	31,300	2,000	42,700	30,000	51,800	44,700	43,700	30,500	55,600	69,900	55,700	48,200	50,700	51,887	51,472	51,016	48,725	42,836	51,494	48,600	46,415	50,062	52,655	50,203	41,109	39,430	36,755	36,977	33,703	29,072	27,742
Basic earnings per common share (in dollars per share)
0.64	0.86	0.74	0.56	0.55	0.44	0.57	0.42	0.46	-2.83	-0.57	0.44	0.46	0.03	0.62	0.43	0.74	0.65	0.62	0.43	0.79	0.98	0.79	0.68	0.72	0.74	0.72	0.71	0.68	0.61	0.72	0.68	0.65	0.70	0.74	0.71	0.59	0.56	0.61	0.62	0.57	0.49	0.47
Weighted Average Number of Shares Outstanding, Basic
64,900	65,300	65,300	66,700	67,100	66,900	67,500	67,700	67,500	67,400	67,900	68,400	68,700	69,100	69,100	69,500	69,500	69,400	70,000	70,700	70,700	70,900	70,800	70,800	70,700	70,625	71,371	71,516	71,288	71,229	71,216	71,173	70,998	70,983	70,939	70,856	69,970	69,434	60,496	59,418	59,324	59,156	58,864
Diluted earnings per common share (in dollars per share)
0.63	0.86	0.73	0.55	0.55	0.45	0.56	0.42	0.46	-2.82	-0.57	0.44	0.45	0.03	0.61	0.43	0.74	0.64	0.62	0.43	0.78	0.98	0.78	0.68	0.71	0.72	0.72	0.71	0.68	0.59	0.72	0.68	0.65	0.69	0.74	0.70	0.58	0.54	0.60	0.61	0.56	0.48	0.46
Weighted Average Number of Shares Outstanding, Diluted
65,400	65,900	65,700	67,000	67,400	67,200	67,700	68,000	67,900	66,300	68,200	68,700	69,200	69,700	69,500	70,000	70,000	69,900	70,300	71,200	71,400	71,100	71,300	71,400	71,400	71,306	71,877	72,018	71,999	71,911	71,816	71,767	71,774	71,913	71,587	71,558	70,982	70,815	61,663	60,685	60,601	60,162	59,846
Comprehensive income:
Net income (loss) including noncontrolling interest
41,600	56,800	49,400	37,600	37,300	29,800	38,700	29,200	31,300	-193,800	-37,900	30,300	31,100	2,000	43,000	29,800	51,600	44,200	42,700	29,000	54,600	69,700	54,500	46,400	50,500	53,435	50,297	52,357	51,111	45,025	52,898	54,882	48,546	53,030	53,842	50,673	41,657	39,238	36,374	37,051	33,840	29,097	27,943
Other comprehensive income (loss):
Foreign currency translation adjustments
-33,000	25,500	-11,500	-6,000	200	-4,200	-4,700	-28,600	10,200	300	12,200	11,200	6,400	-12,600	-14,600	-14,500	1,300	-5,600	-27,400	21,400	-33,800	-22,400	-17,300	5,400	3,500	-4,225	121	-10,205	1,109	-788	-739	-10,886	2,807	-1,597	-10,821	440	701	-	-	-	-	-	-
Cash flow hedges, net of income tax expense of $7.4 and income tax benefit of $4.1 for the three months ended March 31, 2020 and 2019, respectively
21,700	-18,600	7,900	-2,900	-11,900	29,400	-5,600	6,900	-9,700	-2,100	-8,700	0	10,500	-3,900	-7,700	5,200	-200	-	-1,100	-	-	-	-	-	-	-15	-10	-6	-69	-	87	-	-	-	-	-	-	-	-	-	-	-	-
Other comprehensive income (loss)
-11,300	6,900	-3,600	-8,900	-11,700	25,200	-10,300	-21,700	500	-1,800	3,500	11,200	16,900	-16,300	-22,400	-9,300	1,000	-5,300	-28,500	21,400	-33,800	-22,400	-17,300	5,400	3,500	-4,240	111	-10,211	1,040	-763	-652	-10,886	2,807	-	-10,821	-	-	-	-	-	-	-	-
Comprehensive income (loss) including noncontrolling interest
30,400	63,600	45,800	28,700	25,600	54,800	28,500	7,500	31,800	-195,600	-34,400	41,500	48,000	-14,400	20,700	20,500	52,700	38,900	14,200	50,400	20,800	47,400	37,200	51,800	54,000	49,195	50,408	42,146	52,151	44,262	52,246	43,996	51,353	51,433	43,021	51,113	42,358	-	-	-	-	-	-
Comprehensive income (loss) attributable to noncontrolling interest
0	-1,100	-800	0	-800	100	100	-1,100	-300	-600	1,100	1,100	-100	-300	1,400	-1,000	1,500	-1,000	-1,200	-1,200	1,200	2,100	-1,200	-1,800	-200	1,548	-1,175	1,341	2,386	2,189	1,404	6,282	2,131	2,968	1,187	470	548	-	-	-	-	-	-
Comprehensive income (loss) attributable to World Fuel
30,400	64,900	46,600	28,700	26,300	54,700	28,400	8,600	32,100	-194,800	-35,500	40,300	48,000	-14,100	19,300	21,500	51,200	39,800	15,400	51,600	19,600	45,200	38,400	53,600	54,200	47,647	51,583	40,805	49,765	42,073	50,842	37,714	49,222	48,465	41,834	50,643	41,810	-	-	-	-	-	-