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Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2012	Feb. 13, 2013	Jun. 30, 2012
Document and Entity Information
Entity Registrant Name	WORLD FUEL SERVICES CORP
Entity Central Index Key	0000789460
Document Type	10-K
Document Period End Date	Dec. 31, 2012
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 2,637,197,000
Entity Common Stock, Shares Outstanding		72,204,000
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	FY

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Current assets:
Cash and cash equivalents	$ 172,740	$ 205,415
Accounts receivable, net	2,193,866	2,160,561
Inventories	572,313	472,584
Prepaid expenses	158,909	109,297
Other current assets	183,549	174,370
Total current assets	3,281,377	3,122,227
Property and equipment, net	112,525	90,710
Goodwill	470,506	346,246
Identifiable intangible assets, net	172,273	107,620
Non-current other assets	71,070	30,443
Total assets	4,107,751	3,697,246
Current liabilities:
Short-term debt	26,065	17,800
Accounts payable	1,814,794	1,739,678
Customer deposits	96,951	105,554
Accrued expenses and other current liabilities	211,488	163,110
Total current liabilities	2,149,298	2,026,142
Long-term debt	354,253	269,348
Non-current income tax liabilities, net	50,879	47,703
Other long-term liabilities	11,697	7,335
Total liabilities	2,566,127	2,350,528
Commitments and contingencies
World Fuel shareholders' equity:
Preferred stock, $1.00 par value; shares of 100 authorized, none issued
Common stock, $0.01 par value; shares of 100,000 authorized, shares of 72,147 and 71,154 issued and outstanding as of December 31, 2012 and 2011, respectively	721	712
Capital in excess of par value	517,589	502,551
Retained earnings	1,014,882	836,222
Accumulated other comprehensive loss	(16,018)	(6,524)
Total World Fuel shareholders' equity	1,517,174	1,332,961
Noncontrolling interest equity	24,450	13,757
Total equity	1,541,624	1,346,718
Total liabilities and equity	$ 4,107,751	$ 3,697,246

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares shares in Thousands	Dec. 31, 2012	Dec. 31, 2011
CONSOLIDATED BALANCE SHEETS
Preferred stock, par value (in dollars per share)	$ 1.00	$ 1.00
Preferred stock, shares authorized	100	100
Preferred stock, shares issued	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	100,000	100,000
Common stock, shares issued	72,147	71,154
Common stock, shares outstanding	72,147	71,154

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
Revenue	$ 38,945,338	$ 34,622,854	$ 19,131,147
Cost of revenue	38,271,891	33,987,851	18,689,006
Gross profit	673,447	635,003	442,141
Operating expenses:
Compensation and employee benefits	237,362	215,275	162,451
Provision for bad debt	4,790	8,173	4,262
General and administrative	174,272	154,583	94,562
Total operating expenses	416,424	378,031	261,275
Income from operations	257,023	256,972	180,866
Non-operating expenses, net:
Interest expense and other financing costs, net	(19,097)	(15,825)	(4,745)
Other income (expense), net	1,669	(2,944)	1,409
Total non-operating expenses, net	(17,428)	(18,769)	(3,336)
Income before income taxes	239,595	238,203	177,530
Provision for income taxes	38,244	39,001	31,027
Net income including noncontrolling interest	201,351	199,202	146,503
Net income (loss) attributable to noncontrolling interest	12,006	5,173	(362)
Net income attributable to World Fuel	$ 189,345	$ 194,029	$ 146,865
Basic earnings per common share (in dollars per share)	$ 2.66	$ 2.74	$ 2.36
Basic weighted average common shares (in shares)	71,154	70,687	62,168
Diluted earnings per common share (in dollars per share)	$ 2.64	$ 2.71	$ 2.31
Diluted weighted average common shares (in shares)	71,817	71,510	63,441
Comprehensive income:
Net income including noncontrolling interest	$ 201,351	$ 199,202	$ 146,503
Other comprehensive (loss) income:
Foreign currency translation adjustment	(9,606)	(11,277)	958
Change in effective portion of cash flow hedges, net of income tax expense of $36	112
Other comprehensive (loss) income	(9,494)	(11,277)	958
Comprehensive income including noncontrolling interest	191,857	187,925	147,461
Comprehensive income (loss) attributable to noncontrolling interest	12,006	5,173	(362)
Comprehensive income attributable to World Fuel	$ 179,851	$ 182,752	$ 147,823

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Parenthetical) $ in Thousands	12 Months Ended
	Dec. 31, 2012 USD ($)
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
Change in effective portion of cash flow hedges, income tax expense	$ 36

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Capital in Excess of Par Value	Retained Earnings	Accumulated Other Comprehensive (Loss) Income	Total World Fuel Shareholders' Equity	Noncontrolling Interest Equity (Deficit)
Balance at Dec. 31, 2009	$ 733,249	$ 594	$ 213,414	$ 515,218	$ 3,795	$ 733,021	$ 228
Balance (in shares) at Dec. 31, 2009		59,385
Increase (Decrease) in Shareholders' Equity
Net income	146,503			146,865		146,865	(362)
Cash dividends declared	(9,287)			(9,287)		(9,287)
Distribution of noncontrolling interest, net	(510)						(510)
Amortization of share-based payment awards	8,789		8,789			8,789
Issuance of common stock related to share-based payment awards including income tax benefit of $3,681, $5,952 and $10,380 for the year ended December 31, 2012, 2011 and 2010, respectively	10,800	$ 4	10,796			10,800
Issuance of common stock related to share-based payment awards including income tax benefit (in shares)		383
Public offering of common stock	218,816	$ 92	218,724			218,816
Public offering of common stock (in shares)		9,200
Issuance of common stock related to acquisitions	21,070	$ 7	21,063			21,070
Issuance of common stock related to acquisitions (in shares)		690
Purchases of common stock tendered by employees to satisfy the required withholding taxes related to share-based payment awards	(3,824)	$ (1)	(3,823)			(3,824)
Purchases of common stock tendered by employees to satisfy the required withholding taxes related to share-based payment awards (in shares)		(56)
Other comprehensive income (loss)	958				958	958
Balance at Dec. 31, 2010	1,126,564	$ 696	468,963	652,796	4,753	1,127,208	(644)
Balance (in shares) at Dec. 31, 2010		69,602
Increase (Decrease) in Shareholders' Equity
Net income	199,202			194,029		194,029	5,173
Initial noncontrolling interest upon consolidation of joint venture	614						614
Capital contribution for joint ventures	10,411						10,411
Cash dividends declared	(10,603)			(10,603)		(10,603)
Distribution of noncontrolling interest, net	(1,797)						(1,797)
Amortization of share-based payment awards	8,906		8,906			8,906
Issuance of common stock related to share-based payment awards including income tax benefit of $3,681, $5,952 and $10,380 for the year ended December 31, 2012, 2011 and 2010, respectively	7,409	$ 10	7,399			7,409
Issuance of common stock related to share-based payment awards including income tax benefit (in shares)		944
Issuance of common stock related to acquisitions	27,491	$ 7	27,484			27,491
Issuance of common stock related to acquisitions (in shares)		691
Purchases of common stock tendered by employees to satisfy the required withholding taxes related to share-based payment awards	(10,202)	$ (1)	(10,201)			(10,202)
Purchases of common stock tendered by employees to satisfy the required withholding taxes related to share-based payment awards (in shares)		(83)
Other comprehensive income (loss)	(11,277)				(11,277)	(11,277)
Balance at Dec. 31, 2011	$ 1,346,718	$ 712	502,551	836,222	(6,524)	1,332,961	13,757
Balance (in shares) at Dec. 31, 2011	71,154	71,154
Increase (Decrease) in Shareholders' Equity
Net income	$ 201,351			189,345		189,345	12,006
Cash dividends declared	(10,685)			(10,685)		(10,685)
Distribution of noncontrolling interest, net	(1,313)						(1,313)
Amortization of share-based payment awards	13,610		13,610			13,610
Issuance of common stock related to share-based payment awards including income tax benefit of $3,681, $5,952 and $10,380 for the year ended December 31, 2012, 2011 and 2010, respectively	6,410	$ 9	6,401			6,410
Issuance of common stock related to share-based payment awards including income tax benefit (in shares)		1,028
Purchases of common stock tendered by employees to satisfy the required withholding taxes related to share-based payment awards	(4,973)		(4,973)			(4,973)
Purchases of common stock tendered by employees to satisfy the required withholding taxes related to share-based payment awards (in shares)		(35)
Other comprehensive income (loss)	(9,494)				(9,494)	(9,494)
Balance at Dec. 31, 2012	$ 1,541,624	$ 721	$ 517,589	$ 1,014,882	$ (16,018)	$ 1,517,174	$ 24,450
Balance (in shares) at Dec. 31, 2012	72,147	72,147

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY
Issuance of common stock related to share-based payment awards, income tax benefit	$ 3,681	$ 5,952	$ 10,380

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Cash flows from operating activities:
Net income including noncontrolling interest	$ 201,351	$ 199,202	$ 146,503
Adjustments to reconcile net income including noncontrolling interest to net cash provided by (used in) operating activities:
Depreciation and amortization	36,714	40,530	19,106
Provision for bad debt	4,790	8,173	4,262
Share-based payment award compensation costs	14,079	11,041	10,126
Deferred income tax provision (benefit)	9,665	1,641	(7,379)
Extinguishment of liabilities	(11,199)	(8,348)	(9,800)
Foreign currency (gains) losses, net	(7,533)	1,835	(164)
Gain on short-term investment			(1,900)
Other	1,874	1,596	474
Changes in assets and liabilities, net of acquisitions:
Accounts receivable, net	97,297	(725,986)	(329,105)
Inventories	(90,847)	(222,445)	(58,924)
Prepaid expenses	(51,155)	(2,319)	(62,575)
Other current assets	(940)	(78,044)	(39,035)
Cash collateral deposits held by financial counterparties	(11,059)	4,957	(224)
Non-current other assets	4,793	4,237	(3,888)
Accounts payable	(45,179)	581,948	257,208
Customer deposits	(6,513)	38,630	(2,400)
Accrued expenses and other current liabilities	1,795	5,894	52,588
Non-current income tax, net and other long-term liabilities	(2,142)	(5,078)	(10,571)
Total adjustments	(55,560)	(341,738)	(182,201)
Net cash provided by (used in) operating activities	145,791	(142,536)	(35,698)
Cash flows from investing activities:
Acquisitions and other investments, net of cash acquired	(217,782)	(122,702)	(177,807)
Capital expenditures	(28,454)	(19,492)	(12,485)
Issuance of notes receivable	(787)	(11,109)
Repayment of notes receivable	401	8,671
Proceeds from the sale of short-term investments			10,000
Net cash used in investing activities	(246,622)	(144,632)	(180,292)
Cash flows from financing activities:
Borrowings under senior revolving credit facility and senior term loans	4,050,500	5,019,594
Repayments under senior revolving credit facility and senior term loans	(3,952,500)	(4,769,594)
Repayments of other debt	(13,460)	(12,876)	(6,470)
Payments of senior revolving credit facility and senior term loan facility loan costs		(2,483)	(8,518)
Dividends paid on common stock	(10,685)	(10,603)	(8,911)
Payment of earn-out liability	(4,304)
Payment of assumed employee benefits related to acquisitions		(5,421)	(11,306)
Capital contribution for joint venture		10,000
Distribution of noncontrolling interest	(1,401)	(1,797)	(510)
Federal and state tax benefits resulting from tax deductions in excess of the compensation cost recognized for share-based payment awards	3,681	5,952	10,380
Proceeds from sale of common stock, net of expenses			218,816
Proceeds from exercise of stock options			294
Purchases of common stock tendered by employees to satisfy the required withholding taxes related to share-based payment awards	(4,973)	(10,206)	(3,824)
Net cash provided by financing activities	66,858	222,566	189,951
Effect of exchange rate changes on cash and cash equivalents	1,298	(2,876)	89
Net decrease in cash and cash equivalents	(32,675)	(67,478)	(25,950)
Cash and cash equivalents, as of beginning of year	205,415	272,893	298,843
Cash and cash equivalents, as of end of year	172,740	205,415	272,893
Cash paid during the year for:
Interest, net of capitalized interest	17,227	12,098	2,528
Income taxes	$ 26,529	$ 51,096	$ 24,754

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) $ in Thousands, £ in Millions	12 Months Ended
	Dec. 31, 2012 USD ($)	Dec. 31, 2012 GBP (£)	Dec. 31, 2011 USD ($)	Dec. 31, 2010 USD ($)
Supplemental Schedule of Noncash Investing and Financing Activities
Cash dividends declared, but not yet paid	$ 2,700		$ 2,700
Issuance of equity awards to employees in grant	2,700		1,500
Noncontrolling interest upon consolidation of joint venture			600
Promissory notes issued for acquisition	7,200		9,000	$ 26,500
Equity issued for acquisition			27,500	21,100
Reduction in promissory note payable related to a purchase price adjustment			1,400
Current liability and other investments recorded related to contingent consideration	16,300	£ 10.0
Extinguishment of receivables related to acquisition				6,400
Extinguishment of receivables related to funding arrangement				3,300
Assets acquired, net of cash	366,230		208,419	365,890
Liabilities assumed	$ 151,816		$ 54,296	$ 127,642

Nature of Business, Acquisitions, Significant Accounting Policies and Recent Accounting Pronouncements

12 Months Ended

Dec. 31, 2012

Nature of Business, Acquisitions, Significant Accounting Policies and Recent Accounting Pronouncements

Nature of Business, Acquisitions, Significant Accounting Policies and Recent Accounting Pronouncements

1. Nature of Business, Acquisitions, Significant Accounting Policies and Recent
Accounting Pronouncements

Nature of Business

World Fuel Services Corporation (the "Company") was incorporated in Florida in July 1984 and along with its consolidated subsidiaries is referred to collectively as "World Fuel," "we," "our" and "us."

We are a leading global fuel logistics company, principally engaged in the marketing, sale and distribution of aviation, marine, and land fuel products and related services on a worldwide basis. We compete by providing our customers value-added benefits, including single-supplier convenience, competitive pricing, the availability of trade credit, price risk management, logistical support, fuel quality control and fuel procurement outsourcing. We have three reportable operating business segments: aviation, marine, and land. We primarily contract with third parties for the delivery and storage of fuel products and in some cases own storage and transportation assets for strategic purposes. Additionally, we offer transaction management services which consist of card payment solutions and merchant processing services to customers in the aviation, marine and land transportation industries. In our aviation segment, we offer fuel and related services to major commercial airlines, second and third-tier airlines, cargo carriers, regional and low cost carriers, airports, fixed based operators, corporate fleets, fractional operators, private aircraft, military fleets and to the U.S. and foreign governments. In our marine segment, we offer fuel and related services to a broad base of marine customers, including international container and tanker fleets, commercial cruise lines, yachts and time-charter operators, as well as to the U.S. and foreign governments. In our land segment, we offer fuel and related services to petroleum distributors operating in the land transportation market, retail petroleum operators, and industrial, commercial and government customers. Additionally, we engage in crude oil marketing activities.

Acquisitions

2012 Acquisitions

On December 31, 2012, we acquired certain assets of Multi Service Corporation, including the assets comprising its transaction management business, and all of the outstanding stock of its foreign subsidiaries (the "Multi Service business"), a global transaction management company based in Overland Park, Kansas specializing in fleet, government, and commercial payment programs to expand our service offering within the transportation industry. The Multi Service product offering includes the Multi Service Fuel Card, accepted at more than 3,500 truck stops in the United States and Canada, payment solutions for tolls, bridges and tunnels across Europe, government payment systems for global fuel procurement, and commercial payment programs in the transportation industry.

On September 1, 2012, we acquired certain assets of CarterEnergy Corporation, including the assets comprising its wholesale motor fuel distribution business (the "CarterEnergy business"). We acquired the CarterEnergy business, based in Overland Park, Kansas, a distributor of branded gasoline and diesel fuel to more than 700 retail operators and a supplier to industrial, commercial and government customers, to expand our wholesale branded gasoline and diesel fuel business.

In addition to the above acquisitions, we completed three acquisitions, which were not material individually or in the aggregate. Of these acquisitions, two were in our aviation segment and the other was in our aviation and land segments.

The financial position, results of operations and cash flows of the 2012 acquisitions have been included in our consolidated financial statements since their respective acquisition dates.

The following reconciles the estimated aggregate purchase price for the 2012 acquisitions to the cash paid for the acquisitions, net of cash acquired (in thousands):


Estimated purchase price	$	226,485
Less: Cash acquired		12,771

Estimated purchase price, net of cash acquired		213,714
Less: Promissory notes issued		7,214
Less: Amounts due to sellers, net		17,669

Cash paid for acquisition of businesses	$	188,831

The estimated purchase price for each of the 2012 acquisitions is subject to change based on the final value of the net assets acquired and was allocated to the assets acquired and liabilities assumed based on their estimated fair value at the acquisition date. Since the valuations of the assets acquired and liabilities assumed in connection with the 2012 acquisitions have not been finalized, the allocation of the purchase price of these acquisitions may change. On an aggregate basis, the estimated purchase price allocation for the 2012 acquisitions is as follows (in thousands):


Assets acquired:
Cash and cash equivalents	$	12,771
Accounts receivable		135,304
Inventories		7,311
Property and equipment		11,034
Identifiable intangible assets		83,890
Goodwill		123,193
Other current and long-term assets		4,798
Liabilities assumed:
Accounts payable		(130,107)
Accrued expenses and other current liabilities		(18,544)
Other long-term liabilities		(3,165)

Estimated purchase price	$	226,485

In connection with the 2012 acquisitions, we recorded goodwill of $115.2 million and $8.0 million in our land and aviation segments, respectively, of which $87.9 million is anticipated to be deductible for income tax purposes. The aggregate identifiable intangible assets consisted of $53.6 million of customer relationships and $18.9 million of other identifiable intangible assets with weighted average amortizable lives of 6.7 years and 7.0 years, respectively, as well as $11.4 million of indefinite-lived trademark/trade name rights.

The revenues and net income of the 2012 acquisitions did not have a significant impact on our results for 2012.

Pro forma information for the 2012 acquisitions has not been presented as the impact on our consolidated financial statements is not material, either individually or in the aggregate.

2011 Acquisitions

On April 1, 2011, we completed the acquisition of all of the outstanding stock of Ascent Aviation Group, Inc. ("Ascent") based in Parish, New York. Ascent supplies branded aviation fuel and de-icing fluid to more than 450 airports and fixed base operators throughout North America. In connection with the Ascent acquisition, we paid certain assumed employee benefits which have been classified as a financing activity in the consolidated statement of cash flows due to the fact that the liability was paid on behalf of the seller subsequent to closing.

On March 1, 2011, we completed the acquisition of all of the outstanding stock of Nordic Camp Supply ApS and certain affiliates ("NCS") based in Aalborg, Denmark. NCS is a full-service supplier of aviation fuel and related logistics solutions supporting NATO, U.S. and other European armed forces operations in Iraq and Afghanistan.

In addition to the above acquisitions, we acquired certain assets of three companies in our aviation segment, one company in our marine segment and two companies in our land segment, which are not material individually and in the aggregate.

The financial position, results of operations and cash flows of the 2011 acquisitions have been included in our consolidated financial statements since their respective acquisition dates.

The following reconciles the aggregate purchase price for the 2011 acquisitions to the cash paid for the acquisitions, net of cash acquired (in thousands):


Purchase price	$	161,736
Less: Cash acquired		2,638

Purchase price, net of cash acquired		159,098
Less: Promissory notes issued		9,028
Less: Common stock issued		27,491

Cash paid for acquisition of businesses	$	122,579

The fair value of the common stock issued as part of the consideration paid for our acquisitions was determined on the basis of the closing market price of the common stock on the acquisition date.

During 2012, we completed the valuation of the assets acquired and liabilities assumed for the 2011 acquisitions. As a result, during 2012, we paid an additional $0.7 million related to purchase price adjustments and completed the purchase price allocation which primarily resulted in adjustments to goodwill and identifiable intangible assets (see Note 5).

The purchase price for each of the 2011 acquisitions was allocated to the assets acquired and liabilities assumed based on their estimated fair value at the acquisition date. On an aggregate basis, the purchase price allocation for the 2011 acquisitions is as follows (in thousands):


Assets acquired:
Cash and cash equivalents	$	2,638
Accounts receivable		61,741
Inventories		40,246
Property and equipment		23,838
Identifiable intangible assets		23,414
Goodwill		46,282
Other current and long-term assets		15,717
Liabilities assumed:
Accounts payable		(38,617)
Accrued expenses and other current liabilities		(8,453)
Other long-term liabilities		(5,070)

Purchase price	$	161,736

2010 Acquisitions

On January 1, 2010, we completed the acquisition of certain assets of Falmouth Oil Services Limited (the "FOS business"). The FOS business is primarily a marine oil terminal for fuel oil and diesel strategically located in the United Kingdom, which we used for fuel storage prior to the acquisition.

On July 1, 2010, we completed the acquisition of certain assets of Lakeside Oil Company, Inc., including the assets comprising its wholesale motor fuel distribution business (the "Lakeside business"). The Lakeside business, based in Milwaukee, Wisconsin, is primarily a distributor of branded and unbranded gasoline and diesel fuel.

On October 1, 2010, we completed the acquisition of all of the outstanding stock of Western Petroleum Company, ("Western"), a distributor of unbranded gasoline and diesel fuel in the United States and Canada and branded and unbranded aviation fuel in the United States.

On December 1, 2010, we completed the acquisition of all of the outstanding stock of Shell Company of Gibraltar Limited, ("Gib Oil"), a distributor of aviation fuel, marine oil and gasoline and diesel fuel in Gibraltar.

On December 31, 2010, we completed the acquisition of all of the outstanding stock of The Hiller Group Incorporated and Air Petro Corp. and all of the outstanding membership interests of HG Equipment, LLC and AHT Services, LLC (collectively, "Hiller"), a distributor of branded aviation fuel to more than 425 fixed-base operators and corporate flight departments. The financial position, results of operations and cash flows of the 2010 acquisitions have been included in our consolidated financial statements since their respective acquisition dates.

The following reconciles the aggregate purchase price for the 2010 acquisitions to the cash paid for the acquisitions, net of cash acquired (in thousands):


Purchase price	$	240,813
Less: Cash acquired		6,840

Purchase price, net of cash acquired		233,973
Less: Promissory notes issued, net of a purchase price adjustment made in 2011		25,137
Less: Common stock issued		21,070
Less: Extinguishment of certain receivables from Falmouth Oil Services Limited		6,401

Cash paid for acquisition of businesses	$	181,365

The fair value of the common stock issued as part of the consideration paid for our acquisitions was determined on the basis of the closing market price of the common stock on the acquisition date.

During 2011, we completed the valuation of the assets acquired and liabilities assumed for the 2010 acquisitions. As a result, during 2011, we paid $3.6 million related to purchase price adjustments and completed the purchase price allocation which primarily resulted in adjustments to goodwill and identifiable intangible assets (see Note 5).

The purchase price for each of the 2010 acquisitions was allocated to the assets acquired and liabilities assumed based on their estimated fair value at the acquisition date. On an aggregate basis, the purchase price allocation for the 2010 acquisitions is as follows (in thousands):


Assets acquired:
Cash and cash equivalents	$	6,840
Accounts receivable		115,075
Inventories		25,548
Property and equipment		19,565
Identifiable intangible assets		45,171
Goodwill		148,436
Other current and long-term assets		9,976
Liabilities assumed:
Accounts payable		(86,987)
Assumed pension fund exit fee (post employment benefits)		(11,306)
Accrued expenses and other current liabilities		(24,349)
Other long-term liabilities		(7,156)

Purchase price	$	240,813

The payment of the assumed pension fund exit fee has been classified as a financing activity in the consolidated statement of cash flows due to the fact that the liability was paid on behalf of the seller subsequent to closing as the actuarially calculated amount was not available prior to the acquisition. The terms of the acquisition agreement called for the termination of participation in the applicable pension plan and a dollar for dollar decrease in the purchase consideration for amounts paid to exit from the plan.

Significant Accounting Policies

Basis of Consolidation

The accompanying consolidated financial statements and related notes include the accounts of our wholly-owned and majority-owned subsidiaries and joint ventures where we exercise operational control or have a primary benefit of its profits. All significant intercompany accounts, transactions and profits are eliminated upon consolidation.

Use of Estimates

The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States requires us to make certain estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Accordingly, actual results could materially differ from estimated amounts. We evaluate our estimated assumptions based on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities.

Fair Value of Financial Instruments

The carrying amounts of cash, cash equivalents other than money market mutual funds, accounts receivable, accounts payable and accrued expenses approximate fair value based on the short maturities of these instruments.

We measure our money market mutual funds, short-term investments and derivative contracts at their fair value in accordance with accounting guidance for fair value measurement. We believe the carrying value of our debt approximates fair value since these obligations bear interest at variable rates or fixed rates which are not significantly different than market rates.

The accounting guidance on fair value measurements and disclosures establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of us. Unobservable inputs are inputs that reflect our assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available under the circumstances. The hierarchy is broken down into three levels based on the reliability of the inputs as follows:

1.: Level 1 Inputs – Quoted prices (unadjusted) in active markets for identical assets or liabilities that we have the ability to access.
2.: Level 2 Inputs – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. We perform annual back-testing to validate that these inputs represent observable inputs that market participants use in pricing an asset or liability.
3.: Level 3 Inputs – Inputs that are unobservable for the asset or liability.

The availability of observable inputs can vary and is affected by a wide variety of factors. To the extent that valuation is based on inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised by us in determining fair value is greatest for instruments categorized in Level 3. In certain cases, the inputs used to measure fair value of a specific asset or liability may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement in its entirety falls is determined based on the lowest level input that is significant to the fair value measurement in its entirety.

Fair value is a market-based measure considered from the perspective of a market participant who holds the asset or owes the liability rather than an entity-specific measure. Therefore, even when market assumptions are not readily available, our own assumptions are set to reflect those that we feel market participants would use in pricing the asset or liability at the measurement date.

Assets and liabilities that are recorded at fair value have been categorized based upon the fair value hierarchy. Our Level 1 items consist of exchange traded futures. Our Level 2 items consist of commodity swaps, commodity collars, non-designated derivatives in the form of physical forward purchase or sales commitments, hedged inventories and hedged physical forward purchase or sales commitments. Our Level 3 items consist of physical forward purchase or sales commitments, foreign currency forward contracts and the Earn-out liability. Realized and unrealized gains and losses of our physical forward purchase or sales commitments measured at fair value on a recurring basis that utilized Level 3 inputs are recognized as a component of either revenue or cost of revenue (based on the underlying transaction type). Realized and unrealized gains and losses of our foreign currency forward contracts which were not treated as cash flow hedges, measured at fair value on a recurring basis that utilized Level 3 inputs are recognized as other expense/income. Realized and unrealized gains and losses of our short-term investments measured at fair value on a recurring basis that utilized Level 3 inputs are recognized as other expense/income.

Derivative instruments can have bid and ask prices that may be observed in the marketplace. Bid prices reflect the highest price that a market participant is willing to pay and ask prices reflect the lowest price that a market participant is willing to accept. Our policy is to consistently apply mid-market pricing for valuation of our derivative instruments.

Fair value of derivative commodity contracts and hedged item commitments is derived using forward prices that take into account commodity prices, interest rates, credit risk ratings, option volatility and currency rates. In accordance with the guidance on fair value measurements and disclosures, the impact of our credit risk rating is also considered when measuring the fair value of liabilities. The fair value of derivative instruments may be based on a combination of valuation inputs that are on different hierarchy levels. The fair value disclosures are determined based on the lowest level input that is significant to the fair value measurement in its entirety. The nature of inputs that are considered Level 3 are modeled inputs. Commodity contracts categorized in Level 3 are due to the significance of the unobservable model inputs to their respective fair values. The unobservable model inputs, such as basis differentials, are based on the difference between the historical prices of our prior transactions and the underlying observable data. Fair value of hedged item inventories is derived using spot commodity prices and basis differentials. Fair value of foreign currency contracts is derived using forward prices that take into account interest rates, credit risk ratings and currency rates. Factors that could warrant a Level 2 input to move to a Level 3 input may include lack of observable market data because of a decrease in market activity, a degradation of a short-term investment which requires us to value the investment based on a Level 3 input, or a change in significance of a Level 3 input to the fair value measurement in its entirety. Our policy is to recognize transfers between Level 1, 2 or 3 as of the beginning of the reporting period in which the event or change in circumstances caused the transfer to occur.

There were no significant changes to our valuation techniques during 2012 and 2011.

Cash and Cash Equivalents

Our cash equivalents consist principally of overnight investments, bank money market accounts, bank time deposits, money market mutual funds and investment grade commercial paper which have an original maturity date of less than 90 days. These securities are carried at cost, which approximates market value.

Accounts Receivable and Allowance for Bad Debt

Credit extension, monitoring and collection are performed for each of our business segments. Each segment has a credit committee that is responsible for approving credit limits above certain amounts, setting and maintaining credit standards, and managing the overall quality of the credit portfolio. We perform ongoing credit evaluations of our customers and adjust credit limits based upon payment history and the customer's current creditworthiness, as determined by our review of our customer's credit information. We extend credit on an unsecured basis to most of our customers. Accounts receivable are deemed past due based on contractual terms agreed to with our customers.

We continuously monitor collections and payments from our customers and maintain a provision for estimated credit losses based upon our historical experience with our customers, current market and industry conditions of our customers, and any specific customer collection issues that we have identified. Accounts receivable are reduced by an allowance for bad debt.

Accounts Receivable Purchase Agreement

We have a Receivables Purchase Agreement ("RPA") to sell up to $125.0 million of certain of our accounts receivable. On our sold receivables, we are charged a discount margin equivalent to a floating market rate plus 2% and certain other fees, as applicable and we retain a beneficial interest in certain of the sold accounts receivable which is included in accounts receivable, net in the accompanying consolidated balance sheets.

As of December 31, 2012, we had sold accounts receivable of $60.1 million and recorded a retained beneficial interest of $3.8 million. During 2012, the fees and interest paid under the RPA were not significant.

Inventories

Inventories are valued using the average cost methodology and are stated at the lower of average cost or market. Components of inventory include fuel purchase costs, the related transportation costs and changes in the estimated fair market values for inventories included in a fair value hedge relationship.

Derivatives

We enter into financial derivative contracts in order to mitigate the risk of market price fluctuations in aviation, marine and land fuel, to offer our customers fuel pricing alternatives to meet their needs and to mitigate the risk of fluctuations in foreign currency exchange rates. We also enter into proprietary derivative transactions, primarily intended to capitalize on arbitrage opportunities related to basis or time spreads related to fuel products we sell. We have applied the normal purchase and normal sales exception ("NPNS"), as provided by accounting guidance for derivative instruments and hedging activities, to certain of our physical forward sales and purchase contracts. While these contracts are considered derivative instruments under the guidance for derivative instruments and hedging activities, they are not recorded at fair value, but rather are recorded in our consolidated financial statements when physical settlement of the contracts occurs. If it is determined that a transaction designated as NPNS no longer meets the scope of the exception, the fair value of the related contract is recorded as an asset or liability on the consolidated balance sheet and the difference between the fair value and the contract amount is immediately recognized through earnings.

Our derivatives that are subject to the accounting guidance for derivative instruments are recognized at their estimated fair market value in accordance with the accounting guidance for fair value measurements. If the derivative does not qualify as a hedge or is not designated as a hedge, changes in the estimated fair market value of the derivative are recognized as a component of revenue, cost of revenue or other income (expense), net (based on the underlying transaction type) in the consolidated statement of income and comprehensive income. Derivatives which qualify for hedge accounting may be designated as either a fair value or cash flow hedge. For our fair value hedges, changes in the estimated fair market value of the hedge instrument and the hedged item are recognized in the same line item as a component of either revenue or cost of revenue (based on the underlying transaction type) in the consolidated statement of income and comprehensive income. For our cash flow hedges, the effective portion of the changes in the fair market value of the hedge is recognized as a component of other comprehensive income in the shareholders' equity section of the consolidated balance sheet and subsequently reclassified into the same line item as the forecasted transaction when both are settled, while the ineffective portion of the changes in the estimated fair market value of the hedge is recognized as a component of other income (expense), net in the consolidated statement of income and comprehensive income. Cash flows for our hedging instruments used in our hedges are classified in the same category as the cash flow from the hedged items. If for any reason hedge accounting is discontinued, then any cash flows subsequent to the date of discontinuance shall be classified in a manner consistent with the nature of the instrument.

To qualify for hedge accounting, as either a fair value or cash flow hedge, the hedging relationship between the hedging instruments and hedged items must be highly effective over an extended period of time in achieving the offset of changes in fair values or cash flows attributable to the hedged risk at the inception of the hedge. We use a regression analysis based on historical spot prices in assessing the qualification for our fair value hedges. However, our measurement of hedge ineffectiveness for our fair value inventory hedges utilizes spot prices for the hedged item (inventory) and forward or future prices for the hedge instrument. Therefore, the excluded component (forward or future prices) in assessing hedge qualification, along with ineffectiveness, is included as a component of cost of revenue in earnings. Adjustments to the carrying amounts of hedged items are discontinued in instances where the related fair value hedging instrument becomes ineffective and any previously recorded fair market value changes are not adjusted until the fuel is sold.

For more information on our derivatives, see Note 3.

Property and Equipment

Property and equipment are carried at cost less accumulated depreciation and amortization. Depreciation and amortization are calculated using the straight-line method over the estimated useful lives of the assets. Costs of major additions and improvements are capitalized while expenditures for maintenance and repairs, which do not extend the life of the asset, are expensed. Upon sale or disposition of property and equipment, the cost and related accumulated depreciation and amortization are eliminated from the accounts and any resulting gain or loss is credited or charged to income. Long-lived assets held and used by us are reviewed based on market factors and operational considerations for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable.

Purchases of computer software are capitalized. External costs and certain internal costs (including payroll and payroll-related costs of employees) directly associated with developing significant computer software applications for internal use are capitalized. Training and data conversion costs are expensed as incurred. Computer software costs are amortized using the straight-line method over the estimated useful life of the software.

Goodwill and Identifiable Intangible Assets

Goodwill represents the future earnings and cash flow potential of acquired businesses in excess of the fair values that are assigned to all other identifiable assets and liabilities. Goodwill arises because the purchase price paid reflects numerous factors, including the strategic fit and expected synergies these acquisitions bring to existing operations and the prevailing market value for comparable companies. Goodwill is not subject to periodic amortization; instead, it is reviewed annually at year-end (or more frequently under certain circumstances) for impairment. We assess qualitative factors to determine whether it is more likely than not that the fair value of any individual reporting unit is less than its carrying amount. In performing the qualitative assessment, we assess relevant events and circumstances that may impact the fair value of our reporting units, including the following: (i) macroeconomic conditions, (ii) industry and market considerations, (iii) earnings quality/sustainability, (iv) overall financial performance, (v) events affecting a reporting unit, (vi) share price and (vii) recent fair value calculation for our reporting units, if available.

After assessing the above described events and circumstances, if we determine that it is more likely than not that the fair value of a reporting unit is greater than its carrying value, then no further testing is required. Otherwise, we would perform the first step of quantitative testing for goodwill impairment.

In connection with our acquisitions, we record identifiable intangible assets existing at the date of the acquisitions for customer relationships, supplier and non-compete agreements, developed technology and trademark/trade name rights. Identifiable intangible assets subject to amortization are amortized over their estimated lives and are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable based on market factors and operational considerations. For identifiable intangible assets not subject to amortization, we first assess qualitative factors to determine whether it is more likely than not that an asset has been impaired. After assessing qualitative factors, if we determine that it is more likely than not that the fair value of an asset is greater than its carrying value, then no further testing is required. Otherwise, we would review for impairment by comparing the fair value of the intangible asset to its carrying value.

Other Investments

Our other investments consist primarily of equity investments, net of basis adjustments. These investments are accounted for under the equity method as we own less than 50 percent of the entities and exercise significant influence over the investee, but do not have operational or financial control. As of December 31, 2012, we had other investments, included within non-current other assets, of $41.7 million.

Extinguishment of Liability

In the normal course of business, we accrue liabilities for fuel and services received for which invoices have not yet been received. These liabilities are derecognized, or extinguished, if either (i) payment is made to relieve our obligation for the liability or (ii) we are legally released from our obligation for the liability, such as when our legal obligations with respect to such liabilities lapse or otherwise no longer exist. We derecognized vendor liability accruals due to the legal release of our obligations in the amount of $11.2 million, $8.3 million and $9.8 million during 2012, 2011 and 2010, respectively, which is reflected as a reduction of cost of revenue in the accompanying consolidated statements of income and comprehensive income.

Revenue Recognition

Revenue from the sale of fuel and related goods is recognized when the sales price is fixed or determinable, collectability is reasonably assured and title passes to the customer, which is when the delivery of fuel is made to our customer directly from us, the supplier or a third-party subcontractor. Our fuel sales are generated as a fuel reseller as well as from on-hand inventory supply. When acting as a fuel reseller, we generally purchase fuel from the supplier, mark it up, and contemporaneously resell the fuel to the customer, normally taking delivery for purchased fuel at the same place and time as the delivery is made. We record the gross sale of the fuel as we generally take inventory risk, have latitude in establishing the sales price, have discretion in the supplier selection, maintain credit risk and are the primary obligor in the sales arrangement.

Revenue from fuel-related services is recognized when services are performed, the sales price is fixed or determinable and collectability is reasonably assured. We record the gross sale of fuel-related services as we generally have latitude in establishing the sales price, have discretion in supplier selection, maintain credit risk and are the primary obligor in the sales arrangement.

Commission from fuel broker services is recognized when services are performed and collectability is reasonably assured. When acting as a fuel broker, we are paid a commission by the supplier.

Revenue from card payment and processing transactions is recognized at the time the purchase is made by the customer using the charge card. Revenue from charge card transactions is generated from processing fees.

Vendor and Customer Rebates and Branding Allowances

We receive vendor rebates and branding allowances from a number of our fuel suppliers. Typically, a portion of the rebates and allowances is passed on to our customers under the same terms as required by our fuel suppliers. Generally, volume rebates are received from vendors under structured programs based on the level of fuel purchased or sold as specified in the applicable vendor agreements. Many of the vendor agreements require repayment of all or a portion of the amount received if we (or our customers, typically branded dealers) elect to discontinue selling the specified brand of fuel at certain locations. As of December 31, 2012, the estimated amount of fuel rebates and branding allowances that would have to be repaid upon de-branding at these locations, net of the amount due to us from the branded dealers under similar agreements between us and such dealers were not significant. No liability is recorded for the amount of obligations which would become payable upon de-branding.

Some of these vendor rebate and branding allowance arrangements require that we make assumptions and judgments regarding, for example, the likelihood of attaining specified levels of purchases or selling specified volume of products. We routinely review the relevant, significant factors and make adjustments when the facts and circumstances dictate that an adjustment is warranted.

Vendor volume rebates are recognized as a reduction of cost of revenue in the period earned when realization is probable and estimatable and when certain other conditions are met. The rebates passed on to our customers are recognized as a reduction of revenue in the period earned in accordance with the applicable customer agreements. The rebate terms of the customer agreements are generally similar to those of the vendor agreements. We also receive branding allowances from fuel suppliers to defray the costs of branding and enhancing certain of our customer locations. The branding allowances received are recorded as a reduction of cost of revenue. The amounts recorded as a reduction of revenue related to volume rebates and branding allowance arrangements paid to our customers and the amounts recorded as a reduction to cost of revenue related to volume rebates received from vendors were not significant during each of the years presented on the consolidated statements of income and comprehensive income.

Share-Based Payment Awards

We account for share-based payment awards on a fair value basis. Under fair value accounting, the grant-date fair value of the share-based payment award is amortized as compensation expense, on a straight-line basis, over the vesting period for both graded and cliff vesting awards. Annual compensation expense for share-based payment awards is reduced by an expected forfeiture amount on outstanding share-based payment awards.

Expected volatility is based on the historical volatility of our common stock over the period that is equivalent to the award's expected life. Any adjustment to the historical volatility as an indicator of future volatility would be based on the impact to historical volatility of significant non-recurring events that would not be expected in the future. Risk-free interest rates are based on the U.S. Treasury yield curve at the time of grant for the period that is equivalent to the award's expected life. Dividend yields are based on the historical dividends of World Fuel over the period that is equivalent to the award's expected life, as adjusted for stock splits.

Cash flows from income tax benefits resulting from income tax deductions in excess of the compensation cost recognized for share-based payment awards (excess income tax benefits) are classified as financing cash flows. These excess income tax benefits are credited to capital in excess of par value.

Foreign Currency

The functional currency of our U.S. and foreign subsidiaries is the U.S. dollar, except for certain subsidiaries which utilize their respective local currency as their functional currency. Foreign currency transaction gains and losses are recognized upon settlement of foreign currency transactions. In addition, for unsettled foreign currency transactions, foreign currency translation gains and losses are recognized for changes between the transaction exchange rates and month-end exchange rates. Foreign currency transaction gains and losses are included in other income (expense), net, in the accompanying consolidated statements of income and comprehensive income in the period incurred. We recorded a net foreign currency transaction gain of $0.1 million in 2012, and losses of $2.7 million and $1.8 million in 2011 and 2010, respectively.

Revenues and expenses of the subsidiaries that have a functional currency other than the U.S. dollar have been translated into U.S. dollars at average exchange rates prevailing during the period. The assets and liabilities of these subsidiaries have been translated at the rates of exchange on the balance sheet dates. The resulting translation gain and loss adjustments are recorded in accumulated other comprehensive income as a separate component of shareholders' equity. We recorded net foreign currency translation adjustment losses of $9.6 million and $11.3 million in 2012 and 2011, respectively and a net foreign currency translation adjustment gain of $1.0 million in 2010. Cumulative foreign currency translation adjustments included in accumulated other comprehensive income amounted to losses of $16.1 million and $6.5 million as of December 31, 2012 and 2011, respectively and a gain of $4.8 million as of December 31, 2010.

Income Taxes

Income taxes are accounted for under the asset and liability method. Under this method, deferred income tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, and operating loss and income tax credit carryforwards. Deferred income tax assets and liabilities are measured using enacted income tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred income tax assets and liabilities of a change in income tax rates is recognized in the income tax provision in the period that includes the enactment date.

We must assess the likelihood that our deferred income tax assets will be recovered from our future taxable income, and to the extent we believe that recovery is not likely, we must establish a valuation allowance against those deferred income tax assets. Deferred income tax liabilities generally represent items for which we have already taken a deduction in our income tax return, but we have not yet recognized the items as expenses in our results of operations.

Significant judgment is required in evaluating our tax positions, and in determining our provisions for income taxes, our deferred income tax assets and liabilities and any valuation allowance recorded against our net deferred income tax assets. We establish reserves when, despite our belief that the income tax return positions are fully supportable, certain positions are likely to be challenged and we may ultimately not prevail in defending those positions.

U.S. income taxes have not been recognized on undistributed earnings of foreign subsidiaries. Our intention is to reinvest these earnings permanently in active non-U.S. business operations. Therefore, no income tax liability has been accrued for these earnings. Because of the availability of U.S. foreign tax credits, it is not practicable to determine the amount of U.S. income tax payable if such earnings are not reinvested indefinitely.

Earnings per Common Share

Basic earnings per common share is computed by dividing net income attributable to World Fuel 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 RSUs outstanding during the period. Diluted earnings per common share is computed by dividing net income attributable to World Fuel 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 RSUs 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. Potentially dilutive securities include restricted stock subject to forfeitable dividends, non-vested RSUs and SSAR Awards. The dilutive effect of potentially dilutive securities is reflected in diluted earnings per common share by application of the treasury stock method. Under the treasury stock method, an increase in the fair market value of our common stock can result in a greater dilutive effect from potentially dilutive securities.

The following table sets forth the computation of basic and diluted earnings per common share for the periods presented (in thousands, except per share amounts):

	2012		2011		2010


Numerator:
Net income attributable to World Fuel	$	189,345	$	194,029	$	146,865

Denominator:
Weighted average common shares for basic earnings per common share		71,154		70,687		62,168
Effect of dilutive securities		663		823		1,273

Weighted average common shares for diluted earnings per common share		71,817		71,510		63,441

Weighted average securities which are not included in the calculation of diluted earnings per common share because their impact is anti-dilutive or their performance conditions have not been met		603		103		305

Basic earnings per common share	$	2.66	$	2.74	$	2.36

Diluted earnings per common share	$	2.64	$	2.71	$	2.31

Reclassifications

Certain amounts in prior years have been reclassified to conform to current year's presentation.

Recent Accounting Pronouncements

Testing Indefinite-Lived Intangible Assets for Impairment. In July 2012, the Financial Accounting Standards Board ("FASB") issued an accounting standards update ("ASU") which permits an entity to first assess qualitative factors to determine whether it is more likely than not that an indefinite-lived intangible asset is impaired as a basis for determining whether it is necessary to perform a quantitative impairment test. The adoption of this ASU (pursuant to early adoption provisions) did not have a material impact on our consolidated financial statements and disclosures.

Disclosure About Offsetting Assets and Liabilities. In December 2011, the FASB issued an ASU which requires companies to disclose information about financial instruments that have been offset and related arrangements to enable users of its financial statements to understand the effect of those arrangements on its financial position. Companies will be required to provide both net (offset amounts) and gross information in the notes to the financial statements for relevant assets and liabilities that are offset. In January 2013, the FASB issued an ASU clarifying that the requirement to disclose information about financial instruments that have been offset and related arrangements applies only to derivatives, repurchase agreements and reverse purchase agreements, and securities borrowing and lending transactions that are either offset in accordance with specific criteria contained in the FASB Accounting Standards Codification or subject to a master netting arrangement or similar agreement. This update is effective at the beginning of our 2013 fiscal year and will be applied retrospectively. We do not believe adoption of this new guidance will have a significant impact on our consolidated financial statements and disclosures.

Disclosure Relating to Comprehensive Income. In June 2011, the FASB issued an ASU aimed at increasing the prominence of items reported in other comprehensive income in the financial statements. This update requires companies to present comprehensive income in a single statement below net income or in a separate statement of comprehensive income immediately following the income statement. This ASU became effective on a prospective basis at the beginning of our 2012 fiscal year. In December 2011, the FASB issued an ASU to defer the effective date of the specific requirement to present items that are reclassified out of accumulated other comprehensive income to net income alongside their respective components of net income and other comprehensive income. All other provisions of this update are currently in effect. The adoption of this ASU resulted in the inclusion of consolidated statements of comprehensive income for the periods presented below the consolidated statements of income.

Fair Value Measurements. In May 2011, the FASB issued an ASU to provide a consistent definition of fair value and common requirements for measurement and disclosure of fair value between International Financial Reporting Standards and U.S. Generally Accepted Accounting Principles. This ASU changes some fair value measurement principles and enhances disclosure requirements related to activities in Level 3 of the fair value hierarchy. The guidance became effective on a prospective basis at the beginning of our 2012 fiscal year. The adoption of this ASU did not have a material impact on our consolidated financial statements and disclosures.

Accounts Receivable

12 Months Ended

Dec. 31, 2012

Accounts Receivable

Accounts Receivable

2. Accounts Receivable

We had accounts receivable of $2.2 billion as of December 31, 2012 and 2011, net of an allowance for bad debt of $23.7 million and $24.3 million, as of December 31, 2012 and 2011, respectively. Accounts receivable are written-off when it becomes apparent based upon age or customer circumstances that such amounts will not be collected.

The following table sets forth activities in our allowance for bad debt (in thousands):

	2012		2011		2010


Balance as of beginning of period	$	24,301	$	20,201	$	19,690
Charges to provision for bad debt		4,790		8,173		4,262
Write-off of uncollectible accounts receivable		(6,025)		(4,681)		(4,291)
Recoveries of bad debt		653		608		540

Balance as of end of period	$	23,719	$	24,301	$	20,201

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=7512638&loc=d3e5066-111524

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.3,4)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=7512638&loc=d3e5162-111524

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(k))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=7512638&loc=d3e5074-111524

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 01-6
-Paragraph 13
-Subparagraph d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 3, 4
-Article 5

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 7
-Article 9

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph k
-Article 4

+ Details

Derivatives

12 Months Ended

Dec. 31, 2012

Derivatives

Derivatives

3. Derivatives

The following describes our derivative classifications:

Cash Flow Hedges. Includes certain of our foreign currency forward contracts we enter into in order to mitigate the risk of currency exchange rate fluctuations. We recorded an unrealized net gain of $0.1 million as of December 31, 2012 and there were no outstanding cash flow hedges as of December 31, 2011.

Fair Value Hedges. Includes derivatives we enter into in order to hedge price risk associated with our inventory and certain firm commitments relating to fixed price purchase and sale contracts. As of December 31, 2012 and 2011, we recorded unrealized net gains of $1.0 million and $2.4 million related to the ineffectiveness between our derivative hedging instruments and hedged items on the respective dates.

Non-designated Derivatives. Includes derivatives we primarily enter into in order to mitigate the risk of market price fluctuations in aviation, marine and land fuel in the form of swaps or futures as well as certain fixed price purchase and sale contracts and proprietary trading. In addition, non-designated derivatives are also entered into to hedge the risk of currency rate fluctuations. As of December 31, 2012 and 2011, we recorded unrealized net gains of $9.8 million and $11.1 million, respectively, related to our non-designated derivative positions.

For additional information on our derivatives accounting policy, see Note 1.

As of December 31, 2012, our derivative instruments, at their respective fair value positions were as follows (in thousands, except weighted average fixed price and weighted average mark-to-market amount):

Hedge Strategy	Settlement Period	Derivative Instrument	Notional	Unit	Weighted Average Fixed Price	Weighted Average Mark-to- Market Amount	Fair Value Amount


Cash Flow Hedge	2013	Foreign currency contracts (long)	1,758	EUR	0.81	0.08	$	148

Fair Value Hedge	2013	Commodity contracts for inventory hedging (long)	310	BBL	122.75	0.79	$	246
	2013	Commodity contracts for inventory hedging (short)	2,227	BBL	121.97	(0.69)		(1,539)

							$	(1,293)

Non-Designated	2013	Commodity contracts (long)	37,205	BBL	74.92	0.68	$	25,276
	2013	Commodity contracts (short)	29,588	BBL	87.34	(0.48)		(14,305)
	2014	Commodity contracts (long)	445	BBL	98.12	2.52		1,123
	2014	Commodity contracts (short)	542	BBL	99.74	(1.35)		(734)
	2015	Commodity contracts (long)	26	BBL	115.63	0.69		18
	2015	Commodity contracts (short)	26	BBL	117.24	(0.69)		(18)
	2013	Foreign currency contracts (long)	3,080	AUD	1.04	0.00		2
	2013	Foreign currency contracts (short)	11,111	AUD	1.04	0.01		81
	2013	Foreign currency contracts (long)	1,859	BRL	2.11	0.02		32
	2013	Foreign currency contracts (short)	1,366	BRL	2.10	(0.01)		(13)
	2013	Foreign currency contracts (long)	16,795	CAD	0.99	(0.00)		(67)
	2013	Foreign currency contracts (short)	12,220	CAD	0.99	0.01		69
	2013	Foreign currency contracts (long)	1,553,106	CLP	479.38	(0.00)		(10)
	2013	Foreign currency contracts (short)	892,962	CLP	483.07	0.00		12
	2013	Foreign currency contracts (long)	18,734,591	COP	1,803.89	0.00		147
	2013	Foreign currency contracts (short)	15,265,622	COP	1,803.26	(0.00)		(96)
	2013	Foreign currency contracts (short)	5,053	DKK	5.69	(0.00)		(7)
	2013	Foreign currency contracts (long)	1,175	EUR	0.75	(0.01)		(6)
	2013	Foreign currency contracts (short)	18,434	EUR	0.76	(0.01)		(175)
	2013	Foreign currency contracts (long)	47,725	GBP	0.63	0.03		1,417
	2013	Foreign currency contracts (short)	79,935	GBP	0.63	(0.03)		(2,719)
	2013	Foreign currency contracts (long)	3,538	JPY	80.71	(0.00)		(4)
	2013	Foreign currency contracts (short)	15,768	JPY	77.72	0.00		21
	2013	Foreign currency contracts (long)	381,114	MXN	12.97	(0.00)		(375)
	2013	Foreign currency contracts (short)	247,549	MXN	12.96	0.00		307
	2013	Foreign currency contracts (long)	9,400	NOK	5.58	(0.00)		(4)
	2013	Foreign currency contracts (short)	7,123	NOK	5.64	(0.00)		(13)
	2013	Foreign currency contracts (short)	4,459	PLN	3.17	(0.01)		(23)
	2013	Foreign currency contracts (short)	6,873	RON	3.48	(0.01)		(37)
	2014	Foreign currency contracts (long)	250	GBP	0.62	0.00		1
	2014	Foreign currency contracts (short)	3,090	GBP	0.63	(0.03)		(99)

							$	9,801

The following table presents information about our derivative instruments measured at fair value and their locations on the consolidated balance sheets (in thousands):

		As of December 31,

	Balance Sheet Location	2012		2011

Derivative assets:

Derivatives designated as hedging instruments
Commodity contracts	Other current assets	$	991	$	528
Commodity contracts	Accrued expenses and other current liabilities		—		22
Foreign currency contracts	Other current assets		148		—

			1,139		550

Derivatives not designated as hedging instruments
Commodity contracts	Other current assets		67,533		59,185
Commodity contracts	Non-current other assets		1,423		2,065
Commodity contracts	Accrued expenses and other current liabilities		5,776		3,231
Commodity contracts	Other long-term liabilities		46		40
Foreign currency contracts	Other current assets		741		1,912
Foreign currency contracts	Non-current other assets		—		1,082
Foreign currency contracts	Accrued expenses and other current liabilities		1,545		—

			77,064		67,515

		$	78,203	$	68,065

Derivative liabilities:

Derivatives designated as hedging instruments
Commodity contracts	Other current assets	$	2,284	$	1,519
Commodity contracts	Accrued expenses and other current liabilities		—		21

			2,284		1,540

Derivatives not designated as hedging instruments
Commodity contracts	Other current assets		41,410		37,713
Commodity contracts	Non-current other assets		47		2
Commodity contracts	Accrued expenses and other current liabilities		20,927		16,434
Commodity contracts	Other long-term liabilities		1,034		1,213
Foreign currency contracts	Other current assets		595		413
Foreign currency contracts	Non-current other assets		—		481
Foreign currency contracts	Accrued expenses and other current liabilities		3,151		124
Foreign currency contracts	Other long-term liabilities		99		—

			67,263		56,380

		$	69,547	$	57,920

The following tables present the effect of and financial statement location of our derivative instruments and related hedged items in fair value hedging relationships on our consolidated statements of income and comprehensive income (in thousands):

Derivative Instruments	Location	Realized and Unrealized Gain (Loss)						Hedged Items	Location	Realized and Unrealized Gain (Loss)


	For the year ended December 31,								For the year ended December 31,
			2012		2011		2010				2012		2011		2010

Commodity contracts	Revenue	$	265	$	11,608	$	10,040	Firm commitments	Revenue	$	(201)	$	(12,973)	$	(7,494)
Commodity contracts	Cost of revenue		(1,417)		(6,926)		(739)	Firm commitments	Cost of revenue		739		7,771		(797)
Commodity contracts	Cost of revenue		(19,717)		(26,039)		(12,563)	Inventories	Cost of revenue		23,972		38,377		21,419

		$	(20,869)	$	(21,357)	$	(3,262)			$	24,510	$	33,175	$	13,128

There were no gains or losses for the year ended December 31, 2012, 2011 and 2010 that were excluded from the assessment of the effectiveness of our fair value hedges.

The following table presents the effect and financial statement location of our derivative instruments in cash flow hedging relationships on our accumulated other comprehensive income and consolidated statements of income and comprehensive income (in thousands):

Derivative Instruments	Amount of Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Effective Portion)					Location of Realized Gain (Loss) (Effective Portion)


For the year ended December 31,						For the year ended December 31,
		2012	2011		2010		2012	2011		2010

Foreign currency contracts	$	—	$—	$	1,799	Revenue	$—	$—	$	1,107
Foreign currency contracts		196	—		(81)	Other income (expense), net	48	—		(81)

	$	196	$—	$	1,718		$48	$—	$	1,026

In the event forecasted foreign currency cash outflows are less than the hedged amounts, a portion or all of the gains or losses recorded in accumulated other comprehensive income would be reclassified to the consolidated statement of income and comprehensive income. As of December 31, 2012, the maximum amount that could be reclassified to the consolidated statements of income and comprehensive income for the next twelve months is not significant. During the year ended December 31, 2010, we de-designated a cash flow hedge due to the hedged forecasted foreign currency cash outflows no longer being probable which resulted in a realized net gain of $0.7 million being reclassified from accumulated other comprehensive income to other income (expense), net in the consolidated statements of income and comprehensive income.

During the years ended 2012, 2011 and 2010, there were no amounts recognized in the consolidated statements of income and comprehensive income related to the ineffective portion of our cash flow hedges or amounts excluded from the assessment of our cash flow hedge effectiveness.

The following table presents the effect and financial statement location of our derivative instruments not designated as hedging instruments on our consolidated statements of income and comprehensive income (in thousands):

Derivatives	Location	Realized and Unrealized Gain (Loss)


			For the Year ended December 31,
			2012		2011		2010

Commodity contracts	Revenue	$	14,967	$	14,283	$	4,385
Commodity contracts	Cost of revenue		3,333		3,137		(1,001)
Foreign currency contracts	Revenue		(2,384)		1,653		—
Foreign currency contracts	Other income (expense), net		(2,271)		(386)		2,536

		$	13,645	$	18,687	$	5,920

We enter into derivative instrument contracts which may require us to periodically post collateral. Certain of these derivative contracts contain clauses that are similar to credit-risk-related contingent features, including material adverse change, general adequate assurance and internal credit review clauses that may require additional collateral to be posted and/or settlement of the instruments in the event an aforementioned clause is triggered. The triggering events are not a quantifiable measure; rather they are based on good faith and reasonable determination by the counterparty that the triggers have occurred. The net liability position for such contracts, the collateral posted and the amount of assets required to be posted and or to settle the positions should a contingent feature be triggered is not significant as of December 31, 2012.

- Definition

The entire disclosure for the entity's entire derivative instruments and hedging activities. Describes an entity's risk management strategies, derivatives in hedging activities and non-hedging derivative instruments, the assets, obligations, liabilities, revenues and expenses arising therefrom, and the amounts of and methodologies and assumptions used in determining the amounts of such items.

+ References

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-Name Accounting Standards Codification
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-Publisher FASB
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Property and Equipment

12 Months Ended

Dec. 31, 2012

Property and Equipment

Property and Equipment

4. Property and Equipment

The amount of property and equipment and their respective estimated useful lives are as follows (in thousands, except estimated useful lives):

	As of December 31,

	As of December 31,				Estimated Useful Lives
	2012		2011		Estimated Useful Lives

Land	$	4,653	$	5,008	Indefinite
Buildings and leasehold improvements		21,081		14,640	3 - 15 years
Office equipment, furniture and fixtures		8,415		6,467	3 - 7 years
Computer equipment and software costs		80,233		67,498	3 - 9 years
Machinery, equipment and vehicles		66,122		48,318	3 - 30 years

		180,504		141,931
Accumulated depreciation and amortization		67,979		51,221

	$	112,525	$	90,710

For 2012, 2011 and 2010, we recorded depreciation expense of $18.6 million, $15.5 million and $9.3 million, respectively.

The amount of computer software costs, including capitalized internally developed software costs are as follows (in thousands):

As of December 31,

	2012		2011

Computer software costs	$	60,465	$	50,592
Accumulated amortization		27,710		20,481

Computer software costs, net	$	32,755	$	30,111

Included in capitalized computer software costs are costs incurred in connection with software development in progress of $3.0 million and $7.7 million as of December 31, 2012 and 2011, respectively. For 2012, 2011 and 2010, we recorded amortization expense related to computer software costs of $7.2 million, $6.1 million and $4.2 million, respectively.

The assets and accumulated amortization recorded under capital leases are as follows (in thousands):

As of December 31,

	2012		2011

Capital leases	$	4,489	$	4,236
Accumulated amortization		816		713

Capital leases, net	$	3,673	$	3,523

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

+ References + Details

Goodwill and Identifiable Intangible Assets

12 Months Ended

Dec. 31, 2012

Goodwill and Identifiable Intangible Assets

Goodwill and Identifiable Intangible Assets

5. Goodwill and Identifiable Intangible Assets

As a result of performing the review for impairment of goodwill and identifiable intangible assets not subject to amortization, we determined that no impairment existed as of December 31, 2012 or 2011, and, therefore, there were no write-downs to any of our goodwill or identifiable intangible assets not subject to amortization.

Goodwill

The following table provides information regarding changes in goodwill (in thousands):

	Aviation Segment		Marine Segment		Land Segment		Total


As of December 31, 2010	$	61,608	$	71,220	$	154,606	$	287,434
2011 acquisitions		38,506		1,963		4,057		44,526
Adjustment of purchase price allocations – 2010 acquisitions		2,395		(1,755)		14,552		15,192
Foreign currency translation of non-USD functional currency subsidiary goodwill		—		(906)		—		(906)

As of December 31, 2011		102,509		70,522		173,215		346,246
2012 acquisitions		8,028		—		115,165		123,193
Adjustment of purchase price allocations – 2011 acquisitions		(1,106)		—		2,863		1,757
Foreign currency translation of non-USD functional currency subsidiary goodwill		(99)		(591)		—		(690)

As of December 31, 2012	$	109,332	$	69,931	$	291,243	$	470,506

Identifiable Intangible Assets

The following table provides information about our identifiable intangible assets (in thousands):

	As of December 31, 2012						As of December 31, 2011


	Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net

Intangible assets subject to amortization:
Customer relationships	$	173,376	$	61,562	$	111,814	$	121,102	$	47,009	$	74,093
Supplier agreements		33,248		5,531		27,717		24,788		3,562		21,226
Others		19,878		6,143		13,735		9,252		4,538		4,714

		226,502		73,236		153,266		155,142		55,109		100,033
Intangible assets not subject to amortization:
Trademark/trade name rights		19,007		—		19,007		7,587		—		7,587

	$	245,509	$	73,236	$	172,273	$	162,729	$	55,109	$	107,620

Intangible amortization expense for 2012, 2011 and 2010 was $18.1 million, $25.0 million and $9.8 million, respectively.

The adjustment of purchase price allocations for 2011 acquisitions made in 2012 resulted in a reclassification of $2.9 million in goodwill from our aviation segment to our land segment, an increase in aviation segment goodwill of $1.8 million and a decrease in identifiable intangible assets of $1.1 million, primarily customer relationships and developed technology.

The adjustment of purchase price allocations for 2010 acquisitions made in 2011 resulted in an increase in goodwill of $15.2 million and a decrease in identifiable intangible assets of $9.6 million, primarily customer relationships.

The future estimated amortization of our identifiable intangible assets is as follows (in thousands):

Year Ended December 31,


2013	$	22,170
2014		20,128
2015		17,559
2016		14,718
2017		12,749
Thereafter		65,942

	$	153,266

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

Debt

12 Months Ended

Dec. 31, 2012

Debt

Debt

6. Debt

We have a senior revolving credit facility ("Credit Facility") which permits borrowings of up to $800.0 million with a sublimit of $300.0 million for the issuance of letters of credit and bankers' acceptances. Under the Credit Facility, we have the right to request increases in available borrowings up to an additional $150.0 million, subject to the satisfaction of certain conditions. The Credit Facility expires in July 2016. We also had $247.5 million and $250.0 million in senior term loans ("Term Loans") outstanding as of December 31, 2012 and 2011, respectively.

Borrowings under our Credit Facility and Term Loans related to base rate loans or eurodollar rate loans bear floating interest rates plus applicable margins. As of December 31, 2012, the applicable margins for base rate loans and eurodollar rate loans were 1.0% and 2.0%, respectively. We had $100.5 million of outstanding borrowings under our Credit Facility as of December 31, 2012 and no outstanding borrowings as of December 31, 2011. Letters of credit issued under our Credit Facility are subject to letter of credit fees of 2.25% as of December 31, 2012, and the unused portion of our Credit Facility is subject to commitment fees of 0.25% as of December 31, 2012. Our issued letters of credit under the Credit Facility totaled $47.4 million and $45.3 million as of December 31, 2012 and 2011, respectively.

Our Credit Facility and our Term Loans contain certain financial covenants with which we are required to comply. Our failure to comply with the financial covenants contained in our Credit Facility and our Term Loans could result in an event of default. An event of default, if not cured or waived, would permit acceleration of any outstanding indebtedness under the Credit Facility and our Term Loans, trigger cross-defaults under other agreements to which we are a party and impair our ability to obtain working capital advances and letters of credit, which would have a material adverse effect on our business, financial condition, results of operations and cash flows. As of December 31, 2012, we were in compliance with all financial covenants contained in our Credit Facility and our Term Loans.

Outside of our Credit Facility we have other uncommitted credit lines aggregating $219.5 million primarily for the issuance of letters of credit, bank guarantees and bankers' acceptances. These credit lines are renewable on an annual basis and are subject to fees at market rates. As of December 31, 2012 and 2011, our outstanding letters of credit and bank guarantees under these credit lines totaled $184.2 million and $122.3 million, respectively.

Substantially all of the letters of credit and bank guarantees issued under our Credit Facility and the uncommitted credit lines were provided to suppliers in the normal course of business and generally expire within one year of issuance. Expired letters of credit and bank guarantees are renewed as needed.

Our debt consisted of the following (in thousands):

	As of December 31,

	2012		2011

Credit Facility and Term Loans	$	348,000	$	250,000
Acquisition promissory notes		25,878		30,554
Other		6,440		6,594

Total debt		380,318		287,148
Current maturities of long-term debt		26,065		17,800

Long-term debt	$	354,253	$	269,348

The acquisition promissory notes are payable in varying amounts from April 2013 to December 2014 and bear interest at annual rates ranging from 1.4% to 6.0% as of December 31, 2012. The other debt primarily relates to loans payable to noncontrolling shareholders of a consolidated subsidiary and capital leases which are payable in varying amounts from April 2013 to December 2016 and bear interest at annual rates ranging from 2.3% to 6.3% as of December 31, 2012. The weighted average interest rate on our short-term debt was 2.4% and 2.5% as of December 31, 2012 and 2011, respectively.

As of December 31, 2012, the aggregate annual maturities of debt are as follows (in thousands):

Year Ended December 31,


2013	$	26,065
2014		24,848
2015		18,202
2016		311,203

	$	380,318

The following table provides additional information about our interest income and expense and other financing costs, net (in thousands):

	2012		2011		2010


Interest income	$	908	$	788	$	714
Interest expense and other financing costs		(20,005)		(16,613)		(5,459)

	$	(19,097)	$	(15,825)	$	(4,745)

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References + Details

Shareholders' Equity

12 Months Ended

Dec. 31, 2012

Shareholders' Equity

Shareholders' Equity

7. Shareholders' Equity

Dividends

We declared cash dividends of $0.15 per share of common stock for 2012, 2011 and 2010. Our Credit Facility and Term Loans restrict the payment of cash dividends to a maximum of the sum of (i) $50.0 million plus (ii) 50% of the consolidated net income calculated quarterly for the previous four fiscal quarters plus (iii) 100% of the net proceeds of all equity issuances made after the closing date of the Credit Facility and Term Loans. The payment of the above-referenced dividends was in compliance with the Credit Facility and Term Loans.

Issuance of Common Stock

In September 2010, we completed a public offering of 9.2 million shares of our common stock at a price of $25.00 per share of common stock. We received net proceeds of $218.8 million from the offering, after deducting $10.4 million in commissions paid to the underwriters and an estimated $0.8 million in other expenses incurred in connection with the offering.

Stock Repurchase Programs

Our Board of Directors, from time to time, has authorized stock repurchase programs under the terms of which we may repurchase our common stock, subject to certain restrictions contained in our Credit Facility and Term Loans. We did not repurchase any shares of common stock under any stock repurchase program in 2012, 2011 or 2010. As of December 31, 2012, we have $50.0 million available to repurchase shares under our stock repurchase program.

Non-Employee Director Stock Deferral Plan

We adopted the 2003 Stock Deferral Plan for Non-Employee Directors (the "Stock Deferral Plan") to provide for deferral of stock grants. Under the Stock Deferral Plan, each non-employee director could elect to have any annual stock grants paid in stock units, in lieu of stock, with each stock unit being equivalent to one share of our common stock and deferred as provided in the Stock Deferral Plan. As of each cash dividend payment date with respect to our common stock, each participant in the Stock Deferral Plan has credited to his or her account, as maintained by us, a number of stock units equal to the quotient obtained by dividing: (a) the product of (i) the cash dividend payable with respect to each share of common stock on such date and (ii) the total number of stock units credited to his or her account as of the close of business on the record date applicable to such dividend payment date by (b) the fair market value of one share of common stock on such dividend payment date. Upon the participant's termination of service as our director for any reason, or upon a change of control, the participant will receive a number of shares of common stock equal to the number of stock units credited to his or her account.

The estimated fair value of stock and stock units issued to non-employee directors under the Stock Deferral Plan is based on the market value of our common stock on the date of grant and recorded as non-employee director compensation expense. Outstanding stock units issued to non-employee directors under the Stock Deferral Plan are included as capital in excess of par value in shareholders' equity. There were 25,000 stock units outstanding as of December 31, 2012 and 2011. The aggregate carrying value of the outstanding stock units was $0.3 million as of December 31, 2012 and 2011, which is included in capital in excess of par value in the accompanying consolidated balance sheets.

Share-Based Payment Plans

Plan Summary and Description
In 2006, our shareholders approved the 2006 Omnibus Plan (the "2006 Plan"). The 2006 Plan is administered by the Compensation Committee of the Board of Directors (the "Compensation Committee"). The purpose of the 2006 Plan is to (i) attract and retain persons eligible to participate in the 2006 Plan; (ii) motivate participants, by means of appropriate incentives, to achieve long-range goals; (iii) provide incentive compensation opportunities that are competitive with those of other similar companies; and (iv) further align participants' interests with those of our other shareholders through compensation that is based on the value of our common stock. The goal is to promote the long-term financial interest of World Fuel and its subsidiaries, including the growth in value of our equity and enhancement of long-term shareholder return. The persons eligible to receive awards under the 2006 Plan are our employees, officers, and members of the Board of Directors, or any consultant or other person who performs services for us.

The provisions of the 2006 Plan authorize the grant of stock options which can be "qualified" or "nonqualified" under the Internal Revenue Code of 1986, as amended, restricted stock, RSUs, SSAR Awards, performance shares and performance units and other share- based awards. The 2006 Plan is unlimited in duration and, in the event of its termination, the 2006 Plan will remain in effect as long as any of the above awards are outstanding. No awards may be granted under the 2006 Plan after June 2016. The term and vesting period of awards granted under the 2006 Plan are established on a per grant basis, but options and SSAR Awards may not remain exercisable after the seven-year anniversary of the date of grant.

Under the 2006 Plan, 4,900,000 shares of common stock are authorized for issuance. Additional shares of common stock that are authorized for issuance under the 2006 Plan include any shares that were available for future grant under any of our prior stock plans, and any stock or stock options granted under the 2006 Plan or any prior plans that expire or are forfeited or canceled.

Furthermore, any employee's shares used to satisfy the withholding taxes due upon vesting of restricted stock or RSUs or exercise of SSAR Awards are added to the maximum number of shares authorized for issuance under the 2006 Plan.

The following table summarizes the outstanding awards issued pursuant to the 2006 Plan described above as of December 31, 2012 and the remaining shares of common stock available for future issuance (in thousands):

Plan name	Restricted Stock	RSUs	SSAR Awards	Remaining shares of common stock available for future issuance


2006 Plan (1)	1,100	981	422	3,824

(1): As of December 31, 2012, unvested restricted stock will vest between March 2013 and March 2018, unvested RSUs will vest between January 2013 and May 2017 and the outstanding SSAR Awards will expire between March 2013 and October 2015. RSUs granted to non-employee directors under the 2006 Plan prior to 2011 remain outstanding until the date the non-employee director ceases, for any reason, to be a member of the Board of Directors.

Restricted Stock Awards

The following table summarizes the status of our unvested restricted stock outstanding and related transactions for each of the following years (in thousands, except weighted average grant-date fair value price and weighted average remaining vesting term data):

Unvested Restricted Stock Outstanding

	Unvested Restricted Stock	Weighted Average Grant-date Fair Value Price		Aggregate Intrinsic Value		Weighted Average Remaining Vesting Term (in Years)

As of December 31, 2009	419	$	20.88	$	11,245		1.7
Vested	(26)		21.30
Forfeited	(7)		20.95

As of December 31, 2010	386		20.84		13,991		0.6
Granted	353		37.40
Vested	(284)		20.49
Forfeited	(9)		26.45

As of December 31, 2011	446		34.07		18,707		2.2
Granted	798		40.19
Vested	(128)		26.26
Forfeited	(16)		37.24

As of December 31, 2012	1,100	$	39.38	$	45,295		3.4

The aggregate value of restricted stock which vested during 2012, 2011 and 2010 was $5.3 million, $10.6 million and $0.7 million, respectively, based on the average high and low market price of our common stock at the vesting date.

RSU Awards

The following table summarizes the status of our RSUs and related transactions for each of the following years (in thousands, except for weighted average grant-date fair value data and weighted average remaining contractual life):

RSUs Outstanding

	RSUs	Weighted Average Grant-date Fair Value		Aggregate Intrinsic Value		Weighted Average Remaining Contractual Life (in Years)

As of December 31, 2009	901	$	14.52	$	24,131		2.5
Granted	343		28.32
Issued	(11)		14.03
Forfeited	(15)		19.91

As of December 31, 2010	1,218		18.34		44,038		2.6
Granted	224		38.01
Issued	(515)		14.03
Forfeited	(26)		16.19

As of December 31, 2011	901		25.59		37,373		1.7
Granted	369		40.98
Issued	(275)		16.12
Forfeited	(14)		30.74

As of December 31, 2012	981	$	34.06	$	39,888		1.5

The aggregate intrinsic value of RSUs issued during 2012, 2011 and 2010 was $11.6 million, $19.5 million and $0.3 million, respectively.

SSAR Awards

The following table summarizes the status of our outstanding and exercisable SSAR Awards and related transactions for each of the following years (in thousands, except weighted average exercise price and weighted average remaining contractual life data):

	SSAR Awards Outstanding								SSAR Awards Exercisable


	SSAR Awards		Weighted Average Exercise Price		Aggregate Intrinsic Value		Weighted Average Remaining Contractual Life (in Years)		SSAR Awards		Weighted Average Exercise Price		Aggregate Intrinsic Value		Weighted Average Remaining Contractual Life (in Years)

As of December 31, 2009		2,061	$	16.70	$	20,914		2.1		1,419	$	17.62	$	13,109		1.6
Granted		36		24.89
Exercised		(1,085)		17.52

As of December 31, 2010		1,012		16.10		20,346		1.9		480		18.29		8,619		1.3
Exercised		(486)		16.56
Forfeited		(9)		12.39

As of December 31, 2011		517		15.06		13,921		1.4		410		15.39		10,895		1.4
Exercised		(95)		16.76

As of December 31, 2012		422	$	15.30	$	10,927		0.6		322	$	16.02	$	8,108		0.7

The aggregate intrinsic value of SSAR Awards exercised during 2012, 2011 and 2010 was $2.1 million, $10.2 million and $13.2 million, respectively, based on the difference between the average of the high and low market price of our common stock at the exercise date and the SSAR Award exercise price.

As discussed in Note 1, we currently use the Black-Scholes option pricing model to estimate the fair value of SSAR Awards granted to employees and non-employee directors. There were no SSAR Awards issued in 2012 and 2011. The weighted average fair value of the SSAR Awards for 2010 was $10.97 and the assumptions used to determine such fair value were as follows: expected term of 4.0 years, volatility of 58.0%, dividend yields of 0.5% and risk-free interest rates of 1.7%.

Unrecognized Compensation Cost

As of December 31, 2012, there was $33.2 million of total unrecognized compensation cost related to unvested share-based payment awards, which is included as capital in excess of par value in the accompanying consolidated balance sheets. The unrecognized compensation cost as of December 31, 2012 is expected to be recognized as compensation expense over a weighted average period of 1.5 years as follows (in thousands):

Year Ended December 31,


2013	$	13,791
2014		10,706
2015		5,392
2016		2,680
2017		640

	$	33,209

Other Comprehensive Loss and Accumulated Other Comprehensive Loss

As of December 31, 2012 and 2011, our accumulated other comprehensive loss amounted to $16.0 million and $6.5 million, respectively. Our other comprehensive loss consists of foreign currency translation adjustments related to our subsidiaries that have a functional currency other than the U.S. dollar and gains relating to cash flow hedges. Our foreign currency translation adjustments amounted to losses of $9.6 million and $11.3 million in 2012 and 2011, respectively, and a net foreign currency translation adjustment gain of $1.0 million in 2010. The foreign currency translation adjustment losses for 2012 and 2011 were primarily due to the strengthening of the U.S. dollar as compared to the Brazilian Real. We recorded gains of $0.1 million on our cash flow hedges in 2012.

- Definition

The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(d),(e))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB TOPIC 4.E)
-URI http://asc.fasb.org/extlink&oid=6228006&loc=d3e74512-122707

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.29-31)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 4
-Subparagraph (SAB TOPIC 4.C)
-URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187143-122770

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187085-122770

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 43
-Section B
-Paragraph 7, 11A
-Chapter 1
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 12
-Paragraph 10
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
-Paragraph 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 17: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph d
-Article 4

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-Name Regulation S-X (SX)
-Number 210
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-Paragraph 29, 30, 31
-Article 5

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-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section E

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-Name Regulation S-X (SX)
-Number 210
-Section 08
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-Name Staff Accounting Bulletin (SAB)
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-Name Statement of Financial Accounting Standard (FAS)
-Number 129
-Paragraph 2, 3, 4, 5, 6, 7, 8
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 23: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Article 3

+ Details

Income Taxes

12 Months Ended

Dec. 31, 2012

Income Taxes

Income Taxes

8. Income Taxes

U.S. and foreign income (loss) before income taxes consist of the following (in thousands):

	2012		2011		2010


United States	$	49,021	$	56,836	$	(2,886)
Foreign		190,574		181,367		180,416

	$	239,595	$	238,203	$	177,530

The income tax provision (benefit) related to income before income taxes consists of the following components (in thousands):

	2012		2011		2010


Current:
U.S. federal statutory tax	$	6,858	$	7,685	$	12,245
State		938		2,767		1,358
Foreign		24,649		27,514		22,367

		32,445		37,966		35,970

Deferred:
U.S. federal statutory tax		7,642		6,218		(3,776)
State		1,380		2,194		(1,926)
Foreign		643		(6,771)		(1,677)

		9,665		1,641		(7,379)

Non-current tax (income) expense		(3,866)		(606)		2,436

	$	38,244	$	39,001	$	31,027

Non-current tax (income) expense is primarily related to income tax associated with the reserve for uncertain tax positions.

A reconciliation of the U.S. federal statutory income tax rate to our effective income tax rate is as follows:

	2012	2011	2010


U.S. federal statutory tax rate	35.0%	35.0%	35.0%
Foreign earnings, net of foreign taxes	(16.7)	(18.7)	(18.6)
State income taxes, net of U.S. federal income tax benefit	0.6	1.3	0.1
Other permanent differences	(2.9)	(1.2)	1.0

Effective income tax rate	16.0%	16.4%	17.5%

For 2012, our effective income tax rate was 16.0%, for an income tax provision of $38.2 million, as compared to an effective income tax rate of 16.4% and an income tax provision of $39.0 million for 2011. The lower effective income tax rate for 2012 resulted primarily from differences in the actual results of our subsidiaries in tax jurisdictions with different income tax rates as compared to 2011, the reduction of certain income tax reserves for uncertain tax positions due to a discrete item related to a change in estimate, statute of limitation lapses, and the settlement of an income tax audit.

For 2011, our effective income tax rate was 16.4%, for an income tax provision of $39.0 million, as compared to an effective income tax rate of 17.5% and an income tax provision of $31.0 million for 2010. The lower effective income tax rate for 2011 resulted primarily from differences in the actual results of our subsidiaries in tax jurisdictions with different income tax rates as compared to 2010 and the reduction of certain income tax reserves for uncertain tax positions due to statute of limitation lapses.

U.S. income taxes have not been provided on undistributed earnings of foreign subsidiaries. As of December 31, 2012 and 2011, we had $934.5 million and $794.0 million, respectively, of earnings attributable to foreign subsidiaries. Our intention is to reinvest these earnings permanently in active non-U.S. business operations. Therefore, no income tax liability has been accrued for these earnings. Because of the availability of U.S. foreign tax credits, it is not practicable to determine the amount of U.S. income tax payable if such earnings are not reinvested indefinitely.

The temporary differences which comprise our net deferred income tax (liabilities) assets are as follows (in thousands):

	As of December 31,

	2012		2011

Gross Deferred Income Tax Assets:
Excess of provision for bad debts over charge-offs	$	4,573	$	4,744
Net operating loss		675		66
Accrued compensation expenses recognized for financial reporting purposes, not currently deductible for tax purposes		14,909		20,099
Accrued expenses		2,069		1,680
Unrealized derivative losses		316		—
Customer deposits		7,545		6,154
Unrealized foreign exchange		914		906

Total gross deferred income tax assets		31,001		33,649
Less: Valuation allowance		—		—

Gross deferred income tax assets, net of valuation allowance		31,001		33,649

Deferred Income Tax Liabilities:
Excess of tax over financial reporting for depreciation of fixed assets		(11,999)		(4,650)
Excess of tax over financial reporting amortization of identifiable intangible assets and goodwill		(23,108)		(15,772)
Prepaid expenses, deductible for tax purposes		(1,719)		(1,204)
Unrealized derivative gains		—		(5,572)
Other		(1,330)		(834)

Gross deferred income tax liabilities		(38,156)		(28,032)

Net deferred income tax (liabilities) assets	$	(7,155)	$	5,617

Reported on the consolidated balance sheets as:
Other current assets for deferred income tax assets, current	$	15,282	$	13,238

Non-current other assets for deferred income tax assets, non-current	$	5,406	$	2,661

Accrued expenses and other current liabilities for deferred income tax liabilities, current	$	6,084	$	1,009

Non-current income tax liabilities, net for deferred income tax liabilities, non-current	$	21,759	$	9,273

As of December 31, 2012 and 2011, we had foreign net operating losses ("NOLs") of $2.8 million and $0.2 million, respectively. The foreign NOLs have an unlimited carryforward period.

In addition, as a result of certain realization requirements of accounting guidance on stock compensation, the table of deferred income tax assets and liabilities shown above does not include certain deferred income tax assets as of December 31, 2012 and 2011 that arose directly from income tax deductions related to equity compensation in excess of compensation recognized for financial reporting. As of December 31, 2012 and 2011, we had no foreign tax credits related to the excess stock compensation deductions that resulted in an income tax deduction or credit before the realization of the income tax benefit from the deduction or credit. We use the "with and without" method for purposes of determining when excess income tax benefits have been realized.

As of December 31, 2012, 2011 and 2010, our annual capital in excess of par value pool of windfall income tax benefits related to employee compensation was estimated to be $3.7 million, $6.0 million and $10.4 million, respectively.

We operated under a special income tax concession in Singapore which was effective from January 1, 2008 through December 31, 2012. The income tax concession reduces the income tax rate on qualified sales and the impact of this income tax concession decreased foreign income taxes by $5.5 million, $8.4 million and $7.8 million for 2012, 2011 and 2010, respectively. The impact of the income tax concession on diluted earnings per common share was $0.08 for 2012 and $0.12 for 2011 and 2010.

We anticipate that we will continue to operate under the same special income tax concession in Singapore for the next five years, subject to final approval. The special income tax concession will be conditional upon our meeting certain employment and investment thresholds which, if not met in accordance with our agreement, may eliminate the benefit beginning with the first year in which the conditions are not satisfied.

Income Tax Contingencies

We recorded a decrease of $5.6 million of liabilities related to unrecognized income tax benefits ("Unrecognized Tax Liabilities") and a decrease of $1.7 million of assets related to unrecognized income tax benefits ("Unrecognized Tax Assets") during 2012. In addition, during 2012, we recorded a decrease of $0.1 million to our Unrecognized Tax Liabilities related to a foreign currency translation loss, which is included in other income (expense), net, in the accompanying consolidated statements of income and comprehensive income. As of December 31, 2012, our Unrecognized Tax Liabilities were $33.0 million and our Unrecognized Tax Assets were $5.1 million.

We recorded a decrease of $0.9 million of liabilities related to Unrecognized Tax Liabilities and a decrease of $0.3 million of assets related to Unrecognized Tax Assets during 2011. In addition, during 2011, we recorded a decrease of $0.2 million to our Unrecognized Tax Liabilities related to a foreign currency translation gain, which is included in other (expense) income, net, in the accompanying consolidated statements of income and comprehensive income. As of December 31, 2011, our Unrecognized Tax Liabilities were $38.4 million and our Unrecognized Tax Assets were $6.9 million.

The following is a tabular reconciliation of the total amounts of unrecognized income tax benefits for the year:

	2012		2011		2010


Unrecognized tax benefit – opening balance	$	25,574	$	26,293	$	27,158
Gross decreases – tax positions in prior period		(7,659)		—		—
Gross increases – tax positions in current period		5,730		5,890		4,095
Gross decreases – tax positions in current period		—		(64)		(1,629)
Settlements		—		(62)		—
Lapse of statute of limitations		(1,251)		(6,483)		(3,331)

Unrecognized tax benefit – ending balance	$	22,394	$	25,574	$	26,293

If our uncertain tax positions as of December 31, 2012 are settled by the taxing authorities in our favor, our income tax expense would be reduced by $18.0 million of income tax (exclusive of interest and penalties) in the period the matter is considered settled in accordance with ASC 740. This would have the impact of reducing our 2012 effective income tax rate by 7.5%. As of December 31, 2012, it does not appear that the total amount of our unrecognized income tax benefits will significantly increase or decrease within the next 12 months.

We record accrued interest and penalties related to unrecognized income tax benefits as income tax expense. Related to the uncertain income tax benefits noted above, for interest we recorded income of $0.7 million and $0.6 million and expense of $1.4 million during 2012, 2011 and 2010, respectively. For penalties, we recorded income of $1.5 million and expense of $0.2 million and $1.2 million during 2012, 2011 and 2010, respectively. As of December 31, 2012 and 2011, we had recognized liabilities of $5.5 million and $6.2 million for interest and $5.1 million and $6.6 million for penalties, respectively.

In many cases, our uncertain tax positions are related to tax years that remain subject to examination by the relevant taxing authorities. The following table summarizes these open tax years by jurisdiction with major uncertain tax positions:

Jurisdiction	Examination in progress	Open Tax Year


United States	None	2008-2012
Singapore	None	2009-2012
United Kingdom	None	2007-2012
Brazil	2009	2008-2012
South Korea	None	2007-2012
Netherlands	None	2010-2012
Chile	None	2009-2012
Denmark	None	2004-2012

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

+ Details

Commitments and Contingencies

12 Months Ended

Dec. 31, 2012

Commitments and Contingencies

Commitments and Contingencies

9. Commitments and Contingencies

Surety Bonds

In the normal course of business, we are required to post bid, performance and garnishment bonds. The majority of the surety bonds posted relate to our aviation and land segments. As of December 31, 2012 and 2011, we had outstanding bonds that were arranged in order to satisfy various security requirements of $34.3 million and $31.4 million, respectively. Most of these bonds provide financial security for obligations which have already been recorded as liabilities.

Lease Commitments

As of December 31, 2012, our future minimum lease payments under non-cancelable operating leases were as follows (in thousands):

Year Ended December 31,


2013	$	47,938
2014		26,694
2015		21,395
2016		16,009
2017		10,880
Thereafter		31,525

	$	154,441

We incurred rental expense for all properties and equipment of $27.3 million, $21.8 million and $10.0 million for 2012, 2011 and 2010, respectively.

Sales and Purchase Commitments

As of December 31, 2012, fixed sales and purchase commitments under our derivative programs amounted to $440.7 million and $55.5 million, respectively.

Additionally, as of December 31, 2012, we had entered into certain other fixed price sales commitments with corresponding fixed price purchase commitments, the majority of which were satisfied within a two-week period. These sales and purchase commitments were made in the normal course of business.

Agreements with Executive Officers and Key Employees

In March 2008, we entered into agreements with Paul H. Stebbins and Michael J. Kasbar for their continued employment with the Company. In August 2011, each of the agreements was amended to reflect the transition of Mr. Kasbar from President and Chief Operating Officer to President and Chief Executive Officer and Mr. Stebbins from Chairman and Chief Executive Officer to Executive Chairman, effective January 1, 2012. The Kasbar agreement was further amended in April 2012 to eliminate the reference to a specific annual base salary amount. The Kasbar agreement, as amended, provides for an annual base salary as determined by our Compensation Committee in its sole discretion (currently $575,000), termination severance benefits, and such incentives and other compensation and amounts as our Compensation Committee may determine from time to time in its sole discretion. The Kasbar agreement, as amended, expires on December 31, 2016, unless terminated earlier, and will automatically extend for successive one-year terms unless either party provides written notice to the other at least one year prior to the expiration of the term that such party does not want to extend the term. The Stebbins agreement, as amended, provides for an annual base salary of $750,000, which is subject to change from time to time as determined by the Compensation Committee in its sole discretion, termination severance benefits, and such incentives and other compensation and amounts as our Compensation Committee may determine from time to time in its sole discretion. In addition, subject to approval of the Compensation Committee, Mr. Stebbins is eligible to receive annual equity-based awards with a grant-date value targeted at $500,000, 50% in the form of service-based RSUs and 50% in the form of performance-based RSUs. The Stebbins agreement, as amended, expires two years from the effective date, unless terminated earlier, and will automatically extend for successive one-year terms unless either party provides written notice to the other at least 6 months prior to the expiration of the term that such party does not want to extend the term.

Pursuant to their amended agreements, Messrs. Kasbar and Stebbins are each entitled to receive cash severance payments if: (a) we terminate the executive's employment without cause following a change of control or for any reason other than death, disability or cause; (b) the executive resigns for good reason (generally a reduction in his responsibilities or compensation, or a breach by us), or resigns following a change of control; or (c) either the executive elects or we elect not to extend the term of the agreement, as amended. The severance payments are equal to $5.0 million for a termination following a change of control and $3.0 million in the other scenarios described above, a portion of which will be payable two years after the termination of the executive's employment. Upon any such termination, we will continue to provide coverage to the executive under our group insurance plans until he is no longer eligible for coverage under COBRA. Thereafter, we will reimburse the executive for the cost of obtaining private health insurance coverage for a certain period of time.

All of Mr. Kasbar's outstanding SSAR Awards, restricted stock and RSUs (collectively, "outstanding equity awards") will immediately vest in each scenario described in (a) and (b) above following a change of control, except for awards assumed or substituted by a successor company, in which case, such awards shall continue to vest in accordance with their applicable terms. In each scenario described in (a), (b) or (c) above where there has not been a change of control, Mr. Kasbar's outstanding equity awards will vest over a two-year period following termination of his employment, with any remaining unvested awards vesting on the last day of such two-year period. For each scenario described above, awards with multiple annual performance conditions must satisfy certain other requirements in order to have their vesting terms accelerated.

All of Mr. Stebbins' outstanding equity awards (except for RSUs having performance-based vesting criteria issued to him commencing in 2012 (the "New Performance RSUs") will vest in accordance with the same terms and conditions as described above for Mr. Kasbar's outstanding equity awards. In the case of the New Performance RSUs where a change of control has occurred: (i) if the New Performance RSUs were not assumed or substituted, then all such RSUs shall immediately vest, or (ii) if the New Performance RSUs were assumed or substituted, then all such RSUs will no longer be subject to performance-based vesting criteria but will remain subject to service-based vesting criteria. If certain termination events occur prior to a change of control and the New Performance RSUs remain outstanding, the number of RSUs that Mr. Stebbins will receive will be determined following the last day of the applicable performance period based on the Company's actual performance during such period.

The Kasbar and Stebbins agreements, as amended, also provide that in the event that any amount or benefit payable under the agreements, taken together with any amounts or benefits otherwise payable to the executive by us or any affiliated company, are subject to excise tax payments or parachute payments under Section 4999 of the Internal Revenue Code, such amounts or benefits will be reduced but only if and to the extent that the after-tax present value of such amounts or benefits as so reduced would exceed the after-tax present value received by the executive before such reduction.

We have also entered into employment agreements or separation agreements with certain of our other executive officers and key employees. These agreements provide for minimum salary levels, and, in most cases, bonuses which are payable if specified performance goals are attained. Some executive officers and key employees are also entitled to severance benefits upon termination or non-renewal of their contracts under certain circumstances.

As of December 31, 2012, the approximate future minimum commitments under these agreements, excluding discretionary and performance bonuses, are as follows (in thousands):

Year Ended December 31,


2013	$	3,463
2014		2,265
2015		1,825
2016		1,825

	$	9,378

Named Executive Officer Annual Incentive Awards

In 2012, Paul H. Stebbins, Michael J. Kasbar, Ira M. Birns and Michael S. Clementi, referred to collectively in this 2012 10-K Report as the Named Executive Officers (or "NEOs"), were eligible to receive annual cash incentive awards (the "cash awards") and annual share-based incentive awards (the "share-based awards"), which are specified as dollar amounts, upon the achievement of certain annual performance targets. The performance targets for the NEOs were generally based on the growth of our net income except that the performance targets for Mr. Clementi were generally based on achieving certain levels of aviation net operating income.

Earned cash awards are generally paid in the year immediately following the performance year, and we would record the earned cash awards as compensation expense during the performance year. Earned share-based awards will be converted to the appropriate number of equity shares (in the form of RSUs) at the prevailing fair value amount on the grant date, which will occur in the year following the performance year. The equity shares will be granted under our 2006 Plan and will fully vest between 3-5 years. For accounting purposes, the share-based awards are accounted for as liability awards during the performance year until granted, when the share-based payment awards will be accounted for as equity awards. We would record compensation expense for the share-based awards proportionately at the start of the performance period until the end of the equity grant's service vesting period, and we would record a corresponding liability amount until the equity shares are granted. When the equity shares are granted, we will reclassify the outstanding liability amount to capital in excess of par value and record the amortization of the equity shares to capital in excess of par value.

The following table sets forth the cash and share-based awards earned by our NEOs, subject to future vesting terms, and the compensation expense recorded for these awards for the periods presented (in thousands):

	2011		2010


Cash awards earned	$	9,275	$	7,306
Share-based awards earned		9,604		5,913

Total earned	$	18,879	$	13,219

Compensation expense recorded**	$	11,535	$	8,651

**: The remaining compensation expense will be recorded in future periods corresponding with the share-based awards' vesting terms.

There were no cash or share-based awards earned by our NEOs in 2012. Cash and share-based awards earned by our former Chief Risk and Administration Officer, an NEO during 2011 and 2010, are included in the above table.

Deferred Compensation Plans

We maintain long-term service programs under which certain key employees receive cash awards for long-term service. As of December 31, 2012 and 2011, our liabilities under these programs were $2.4 million and $1.5 million, respectively.

We maintain a 401(k) defined contribution plan which covers all U.S. employees who meet minimum requirements and elect to participate. Participants may contribute up to 60% of their compensation, subject to certain limitations. During 2012, 2011 and 2010, we made matching contributions of 50% for each 1% of the participants' contributions up to 6% of the participants' contributions. Annual contributions by us are made at our sole discretion, as approved by the Compensation Committee. We recorded expense for our contributions of $1.6 million, $1.5 million and $1.2 million for 2012, 2011 and 2010, respectively.

Certain of our foreign subsidiaries have defined contribution plans, which allow for voluntary contributions by the employees. The foreign subsidiaries paid all general and administrative expenses of the plans and in some cases made employer contributions on behalf of the employees. We recorded expense for our contributions of $2.6 million, $2.0 million and $1.2 million for 2012, 2011 and 2010, respectively.

Environmental and Other Liabilities; Uninsured Risks

We provide various services to customers, including into-plane fueling at airports, fueling of vessels in-port and at-sea, and transloading, transportation and storage of fuel and fuel products. We are therefore subject to possible claims by customers, regulators and others who may be injured by a fuel spill or other accident. In addition, we may be held liable for damages to the environment arising out of such events. Although we generally maintain liability insurance for these types of events, such insurance may be inadequate. If we are held liable for any damages, and the liability is not adequately covered by insurance and is of sufficient magnitude, our financial position and results of operations will be adversely affected.

We have exited several businesses which handled hazardous and non-hazardous waste. We treated and/or transported this waste to various disposal facilities. We may be held liable as a potentially responsible party for the clean-up of such disposal facilities or be required to clean up facilities previously operated by us, pursuant to current U.S. federal and state laws and regulation. In addition, compliance with existing and future environmental laws regulating underground storage tanks located at the retail gasoline stations that we operate may require significant capital expenditures and increased operating and maintenance costs. The remediation costs and other costs required to clean up or treat contaminated sites could be substantial. We pay tank registration fees and other taxes to state trust funds established in our operating areas and maintain private insurance coverage in support of future remediation obligations. These state trust funds or other responsible third parties including insurers are expected to pay or reimburse us for remediation expenses less a deductible. To the extent third parties do not pay for remediation as we anticipate, we will be obligated to make these payments. These payments could materially adversely affect our financial condition, results of operations and cash flows. Reimbursements from state trust funds will be dependent on the maintenance and continued solvency of the various funds.

Although we continuously review the adequacy of our insurance coverage, we may lack adequate coverage for various risks, such as environmental claims. An uninsured or under-insured claim arising out of our activities, if successful and of sufficient magnitude, will have a material adverse effect on our financial position, results of operations and cash flows.

Legal Matters

Cathay Pacific Litigation

Since April 2012, one of our subsidiaries, World Fuel Services (Singapore) Pte Ltd. ("WFSS") has been involved in litigation with Cathay Pacific Airways Limited ("Cathay") arising out of the emergency landing of a Cathay aircraft in Hong Kong in 2010, which Cathay alleges was caused by contaminated fuel supplied by WFSS. Cathay claims damages relating to the incident of approximately $34.0 million. Because the outcome of litigation is inherently uncertain, we cannot estimate the possible loss or range of loss for this matter. We intend to vigorously defend against this claim, and we believe our liability in this matter (if any) should be adequately covered by insurance. As of December 31, 2012, we have not recorded any accruals associated with this claim.

Other Matters

In addition to the environmental and other legal matters discussed above, we are a party to various claims, complaints and proceedings arising in the ordinary course of our business including, but not limited to, commercial and governmental contract claims, such as property damage, demurrage, billing and fuel quality claims, as well as bankruptcy preference claims. We have established loss provisions for these ordinary course claims as well as other matters in which losses are probable and can be reasonably estimated. As of December 31, 2012, we had recorded certain reserves which were not significant. For those matters where a reserve has not been established and for which we believe a loss is reasonably possible, as well as for matters where a reserve has been recorded but for which an exposure to loss in excess of the amount accrued is reasonably possible, we believe that such losses will not have a material adverse effect on our business or financial condition. However, any adverse resolution of one or more such claims, complaints or proceedings during a particular period could have a material adverse effect on our results of operations or cash flow for that period.

Our estimates regarding potential losses and materiality are based on our judgment and assessment of the claims utilizing currently available information. Although we will continue to reassess our reserves and estimates based on future developments, our objective assessment of the legal merits of such claims may not always be predictive of the outcome and actual results may vary from our current estimates.

- Definition

The entire disclosure for commitments and contingencies.

+ References

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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Fair Value Measurements

12 Months Ended

Dec. 31, 2012

Fair Value Measurements

Fair Value Measurements

10. Fair Value Measurements

The carrying amounts of cash and cash equivalents, accounts receivable, net, accounts payable and accrued expenses and other current liabilities approximate fair value based on the short-term maturities of these instruments. We believe the carrying values of our debt and notes receivable approximate fair value since these instruments bear interest either at variable rates or fixed rates which are not significantly different than market rates. Based on the fair value hierarchy, our debt of $380.3 million as of December 31, 2012 and $287.1 million as of December 31, 2011 and our notes receivable of $12.7 million as of December 31, 2012 and $6.8 million as of December 31, 2011 are categorized in Level 3.

The following table presents information about our assets and liabilities that are measured at fair value on a recurring basis as of December 31, 2012 and 2011 (in thousands):

	Level 1		Level 2		Level 3		Sub-Total		Netting and Collateral		Total


2012
Assets:
Commodity contracts	$	18,087	$	57,682	$	—	$	75,769	$	(56,115)	$	19,654
Foreign currency contracts		—		2,434		—		2,434		(2,289)		145
Hedged item inventories		—		818		—		818		—		818

	$	18,087	$	60,934	$	—	$	79,021	$	(58,404)	$	20,617

Liabilities:
Commodity contracts	$	20,970	$	44,732	$	—	$	65,702	$	(49,562)	$	16,140
Foreign currency contracts		—		3,845		—		3,845		(2,289)		1,556
Hedged item inventories		—		525		—		525		—		525

	$	20,970	$	49,102	$	—	$	70,072	$	(51,851)	$	18,221

2011
Assets:
Commodity contracts	$	14,038	$	51,033	$	—	$	65,071	$	(43,275)	$	21,796
Foreign currency contracts		—		2,994		—		2,994		(893)		2,101
Hedged item inventories		—		3,216		—		3,216		—		3,216
Hedged item commitments		—		206		—		206		—		206

	$	14,038	$	57,449	$	—	$	71,487	$	(44,168)	$	27,319

Liabilities:
Commodity contracts	$	10,148	$	46,754	$	—	$	56,902	$	(43,291)	$	13,611
Foreign currency contracts		—		1,018		—		1,018		(893)		125
Hedged item commitments		—		24		—		24		—		24
Earn-out		—		—		4,194		4,194		—		4,194

	$	10,148	$	47,796	$	4,194	$	62,138	$	(44,184)	$	17,954

For our derivative contracts, we may enter into master netting, collateral and offset agreements with counterparties. These agreements provide us the ability to offset a counterparty's rights and obligations, request additional collateral when necessary or liquidate the collateral in the event of counterparty default. We net fair value of cash collateral paid or received against fair value amounts recognized for net derivative positions executed with the same counterparty under the same master netting or offset agreement.

As of December 31, 2012, we had $22.9 million of cash collateral deposits held by financial counterparties included in other current assets in the accompanying consolidated balance sheets. In addition, as of December 31, 2012, we have offset $6.6 million of cash collateral received from customers against the total amount of commodity fair value assets in the above table. As of December 31, 2011, we had $11.8 million of cash collateral deposits held by financial counterparties and there were no significant amounts of cash collateral that were offset against the total commodity fair value assets and liabilities in the above table.

The following table presents information about our assets and liabilities that are measured at fair value on a recurring basis that utilized Level 3 inputs for the periods presented (in thousands):

	Beginning of Period		Total Gains (Losses) Included in Earnings		Settlements		End of Period		Change in Unrealized Gains Relating to Assets and Liabilities that are Held at end of Period		Location of Total Gains (Losses) Included in Earnings


2012
Assets:
Commodity contracts	$	—	$	1,271	$	1,271	$	—	$	—	Revenue

Liabilities:
Earn-out	$	4,194	$	(110)	$	4,304	$	—	$	—	Other income (expense), net

2011
Assets:
Commodity contracts	$	90	$	—	$	90	$	—	$	—	Revenue

Liabilities:
Earn-out	$	5,012	$	818	$	—	$	4,194	$	818	Other income (expense), net

There were no transfers between Level 1, 2 or 3 during the periods presented. In addition, there were no significant Level 3 purchases, sales or issuances for the periods presented.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

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-SubTopic 10
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Business Segments, Geographic Information, and Major Customers

12 Months Ended

Dec. 31, 2012

Business Segments, Geographic Information, and Major Customers

Business Segments, Geographic Information, and Major Customers

11. Business Segments, Geographic Information, and Major Customers

Business Segments

Based on the nature of operations and quantitative thresholds pursuant to the accounting guidance on segment reporting, we have three reportable operating business segments: aviation, marine and land. Corporate expenses are allocated to the segments based on usage, where possible, or on other factors according to the nature of the activity. Please refer to Note 1 for the dates that the results of operations and related assets and liabilities of our acquisitions have been included in our operating segments. The accounting policies of the reportable operating segments are the same as those described in the Summary of Significant Accounting Policies (see Note 1).

Information concerning our revenue, gross profit, income from operations, depreciation and amortization and capital expenditures by segment is as follows (in thousands):

	For the Year ended December 31,

	2012		2011		2010

Revenue:
Aviation segment	$	14,692,042	$	12,866,019	$	7,132,749
Marine segment		14,750,425		14,565,086		9,220,998
Land segment		9,502,871		7,191,749		2,777,400

	$	38,945,338	$	34,622,854	$	19,131,147

Gross profit:
Aviation segment	$	294,601	$	306,112	$	215,130
Marine segment		208,028		195,109		165,344
Land segment		170,818		133,782		61,667

	$	673,447	$	635,003	$	442,141

Income from operations:
Aviation segment	$	128,153	$	146,411	$	118,351
Marine segment		103,229		95,982		84,656
Land segment		75,291		62,049		15,948

		306,673		304,442		218,955
Corporate overhead – unallocated		49,650		47,470		38,089

	$	257,023	$	256,972	$	180,866

Depreciation and amortization:
Aviation segment, includes allocation from corporate	$	17,381	$	23,392	$	5,105
Marine segment, includes allocation from corporate		5,387		3,942		4,178
Land segment, includes allocation from corporate		10,406		9,825		7,362
Corporate		3,540		3,371		2,461

	$	36,714	$	40,530	$	19,106

Capital expenditures:
Aviation segment	$	4,713	$	2,230	$	510
Marine segment		8,981		3,714		3,109
Land segment		7,243		3,031		1,243
Corporate		7,517		10,517		10,326

	$	28,454	$	19,492	$	15,188

Information concerning our accounts receivable, net, goodwill, identifiable intangible assets, net and total assets by segment is as follows (in thousands):

	As of December 31,

	2012		2011

Accounts receivable, net:
Aviation segment, net of allowance for bad debt of $8,997 and $8,441 as of December 31, 2012 and 2011, respectively	$	674,973	$	569,086
Marine segment, net of allowance for bad debt of $7,742 and $9,495 as of December 31, 2012 and 2011, respectively		1,069,833		1,261,340
Land segment, net of allowance for bad debt of $6,980 and $6,365 as of December 31, 2012 and 2011, respectively		449,060		330,135

	$	2,193,866	$	2,160,561

Goodwill:
Aviation segment	$	109,332	$	102,509
Marine segment		69,931		70,522
Land segment		291,243		173,215

	$	470,506	$	346,246

Identifiable intangible assets, net:
Aviation segment	$	38,874	$	42,880
Marine segment		6,656		8,659
Land segment		126,743		56,081

	$	172,273	$	107,620

Total assets:
Aviation segment	$	1,463,423	$	1,149,031
Marine segment		1,330,796		1,568,378
Land segment		1,145,756		816,595
Corporate		167,776		163,242

	$	4,107,751	$	3,697,246

Geographic Information

Information concerning our revenue, income from operations, non-current assets and total assets, as segregated between the Americas, EMEA (Europe, Middle East and Africa) and the Asia/Pacific regions, is presented as follows, based on the country of incorporation of the relevant subsidiary (in thousands):

	For the Year ended December 31,

	2012		2011		2010

Revenue:
Americas (1)	$	23,293,260	$	19,965,339	$	10,250,360
EMEA (2)		7,247,754		6,695,315		3,472,934
Asia/Pacific (3)		8,404,324		7,962,200		5,407,853

	$	38,945,338	$	34,622,854	$	19,131,147

Income from operations:
Americas (4)	$	103,005	$	92,083	$	38,419
EMEA		82,964		76,881		59,249
Asia/Pacific		71,054		88,008		83,198

	$	257,023	$	256,972	$	180,866

	As of December 31,

	2012		2011

Non-current assets:
Americas (5)	$	610,434	$	439,388
EMEA		214,607		134,311
Asia/Pacific		1,333		1,320

	$	826,374	$	575,019

Total assets:
Americas (6)	$	2,273,945	$	1,975,561
EMEA		1,122,007		946,789
Asia/Pacific		711,799		774,896

	$	4,107,751	$	3,697,246

(1): Includes revenue related to the United States of $20.2 billion, $17.5 billion and $8.7 billion for 2012, 2011 and 2010, respectively.
(2): Includes revenue related to the United Kingdom of $5.2 billion, $5.0 billion and $2.6 billion for 2012, 2011 and 2010, respectively.
(3): Includes revenue related to Singapore of $8.4 billion, $8.0 billion and $5.4 billion for 2012, 2011 and 2010, respectively.
(4): Includes income from operations related to the United States of $67.0 million, $59.8 million and $1.6 million for 2012, 2011 and 2010, respectively.
(5): Includes non-current assets related to the United States of $596.7 million and $425.2 million as of December 31, 2012 and 2011, respectively.
(6): Includes total assets related to the United States of $2.0 billion and $1.7 billion as of December 31, 2012 and 2011, respectively.

Major Customers

During each of the years presented on the consolidated statements of income and comprehensive income, none of our customers accounted for more than 10% of total consolidated revenue.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 33
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 35
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 131
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Summary Quarterly Information (Unaudited)

12 Months Ended

Dec. 31, 2012

Summary Quarterly Information (Unaudited)

Summary Quarterly Information (Unaudited)

12. Summary Quarterly Information (Unaudited)

The following is a summary of the unaudited quarterly results for 2012 and 2011 (in thousands, except earnings per share data):

	March 31, 2012		June 30, 2012		September 30, 2012 (1)		December 31, 2012 (1)


Revenue	$	9,479,055	$	9,618,797	$	9,911,673	$	9,935,813

Gross profit	$	157,235	$	172,123	$	180,752	$	163,337

Net income including noncontrolling interest	$	48,546	$	54,882	$	52,898	$	45,025

Net income attributable to World Fuel	$	46,415	$	48,600	$	51,494	$	42,836

Basic earnings per common share (4)	$	0.65	$	0.68	$	0.72	$	0.60

Diluted earnings per common share (4)	$	0.65	$	0.68	$	0.72	$	0.60

	March 31, 2011 (2)		June 30, 2011 (2)(3)		September 30, 2011 (2)(3)		December 31, 2011 (2)(3)


Revenue	$	7,079,406	$	8,708,709	$	9,510,792	$	9,323,947

Gross profit	$	136,768	$	165,102	$	170,847	$	162,286

Net income including noncontrolling interest	$	41,657	$	50,673	$	53,842	$	53,030

Net income attributable to World Fuel	$	41,109	$	50,203	$	52,655	$	50,062

Basic earnings per common share	$	0.59	$	0.71	$	0.74	$	0.70

Diluted earnings per common share (4)	$	0.58	$	0.70	$	0.74	$	0.70

(1): Includes the CarterEnergy business operations since September 1, 2012 as a result of the acquisition.
(2): Includes NCS operations since March 1, 2011 as a result of the acquisition.
(3): Includes Ascent operations since April 1, 2011 as a result of the acquisition.
(4): Basic and diluted earnings per share are computed independently for each quarter and the full year based upon respective weighted average shares outstanding. Therefore, the sum of the quarterly basic and diluted earnings per share amounts may not equal the annual basic earnings per share amount reported.

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

+ References + Details

Nature of Business, Acquisitions, Significant Accounting Policies and Recent Accounting Pronouncements (Policies)

12 Months Ended

Dec. 31, 2012

Nature of Business, Acquisitions, Significant Accounting Policies and Recent Accounting Pronouncements

Basis of Consolidation

Basis of Consolidation

Use of Estimates

Use of Estimates

Fair Value of Financial Instruments

Fair Value of Financial Instruments

1.: Level 1 Inputs – Quoted prices (unadjusted) in active markets for identical assets or liabilities that we have the ability to access.
2.: Level 2 Inputs – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. We perform annual back-testing to validate that these inputs represent observable inputs that market participants use in pricing an asset or liability.
3.: Level 3 Inputs – Inputs that are unobservable for the asset or liability.

There were no significant changes to our valuation techniques during 2012 and 2011.

Cash and Cash Equivalents

Cash and Cash Equivalents

Accounts Receivable and Allowance for Bad Debt

Accounts Receivable and Allowance for Bad Debt

Accounts Receivable Purchase Agreement

Accounts Receivable Purchase Agreement

Inventories

Inventories

Derivatives

Derivatives

For more information on our derivatives, see Note 3.

Property and Equipment

Property and Equipment

Goodwill and Identifiable Intangible Assets

Goodwill and Identifiable Intangible Assets

Other Investments

Other Investments

Extinguishment of Liability

Extinguishment of Liability

Revenue Recognition

Revenue Recognition

Commission from fuel broker services is recognized when services are performed and collectability is reasonably assured. When acting as a fuel broker, we are paid a commission by the supplier.

Vendor and Customer Rebates and Branding Allowances

Vendor and Customer Rebates and Branding Allowances

Share-Based Payment Awards

Share-Based Payment Awards

The estimated fair value of stock awards, such as restricted stock and restricted stock units ("RSUs") is based on the grant-date market value of our common stock, as defined in the respective plans under which the awards were granted. To determine the estimated fair value of stock-settled stock appreciation rights ("SSAR Awards"), we use the Black-Scholes option pricing model. The estimation of the fair value of SSAR Awards on the date of grant using an option-pricing model is affected by our stock price as well as assumptions regarding a number of complex and subjective variables. These variables include our expected stock price volatility over the term of the awards, actual and projected employee stock option exercise behaviors, risk-free interest rates and expected dividends. The expected term of SSAR Awards represents the estimated period of time from grant until exercise or conversion and is based on vesting schedules and expected post-vesting, exercise and employment termination behavior. Expected volatility is based on the historical volatility of our common stock over the period that is equivalent to the award's expected life. Any adjustment to the historical volatility as an indicator of future volatility would be based on the impact to historical volatility of significant non-recurring events that would not be expected in the future. Risk-free interest rates are based on the U.S. Treasury yield curve at the time of grant for the period that is equivalent to the award's expected life. Dividend yields are based on the historical dividends of World Fuel over the period that is equivalent to the award's expected life, as adjusted for stock splits.

Foreign Currency

Foreign Currency

Income Taxes

Income Taxes

Earnings per Common Share

Earnings per Common Share

The following table sets forth the computation of basic and diluted earnings per common share for the periods presented (in thousands, except per share amounts):

	2012		2011		2010


Numerator:
Net income attributable to World Fuel	$	189,345	$	194,029	$	146,865

Denominator:
Weighted average common shares for basic earnings per common share		71,154		70,687		62,168
Effect of dilutive securities		663		823		1,273

Weighted average common shares for diluted earnings per common share		71,817		71,510		63,441

Weighted average securities which are not included in the calculation of diluted earnings per common share because their impact is anti-dilutive or their performance conditions have not been met		603		103		305

Basic earnings per common share	$	2.66	$	2.74	$	2.36

Diluted earnings per common share	$	2.64	$	2.71	$	2.31

Nature of Business, Acquisitions, Significant Accounting Policies and Recent Accounting Pronouncements (Tables)

12 Months Ended

Dec. 31, 2012

Acquisitions

Schedule of computation of basic and diluted earnings per common share

The following table sets forth the computation of basic and diluted earnings per common share for the periods presented (in thousands, except per share amounts):

	2012		2011		2010


Numerator:
Net income attributable to World Fuel	$	189,345	$	194,029	$	146,865

Denominator:
Weighted average common shares for basic earnings per common share		71,154		70,687		62,168
Effect of dilutive securities		663		823		1,273

Weighted average common shares for diluted earnings per common share		71,817		71,510		63,441

Weighted average securities which are not included in the calculation of diluted earnings per common share because their impact is anti-dilutive or their performance conditions have not been met		603		103		305

Basic earnings per common share	$	2.66	$	2.74	$	2.36

Diluted earnings per common share	$	2.64	$	2.71	$	2.31

2012 Acquisitions

Acquisitions

Reconciliation of the estimated aggregate purchase price for the acquisitions to the cash paid for the acquisitions, net of cash acquired

The following reconciles the estimated aggregate purchase price for the 2012 acquisitions to the cash paid for the acquisitions, net of cash acquired (in thousands):


Estimated purchase price	$	226,485
Less: Cash acquired		12,771

Estimated purchase price, net of cash acquired		213,714
Less: Promissory notes issued		7,214
Less: Amounts due to sellers, net		17,669

Cash paid for acquisition of businesses	$	188,831

Schedule of estimated purchase price allocation for the acquisitions

On an aggregate basis, the estimated purchase price allocation for the 2012 acquisitions is as follows (in thousands):


Assets acquired:
Cash and cash equivalents	$	12,771
Accounts receivable		135,304
Inventories		7,311
Property and equipment		11,034
Identifiable intangible assets		83,890
Goodwill		123,193
Other current and long-term assets		4,798
Liabilities assumed:
Accounts payable		(130,107)
Accrued expenses and other current liabilities		(18,544)
Other long-term liabilities		(3,165)

Estimated purchase price	$	226,485

2011 Acquisitions

Acquisitions

Reconciliation of the estimated aggregate purchase price for the acquisitions to the cash paid for the acquisitions, net of cash acquired

The following reconciles the aggregate purchase price for the 2011 acquisitions to the cash paid for the acquisitions, net of cash acquired (in thousands):


Purchase price	$	161,736
Less: Cash acquired		2,638

Purchase price, net of cash acquired		159,098
Less: Promissory notes issued		9,028
Less: Common stock issued		27,491

Cash paid for acquisition of businesses	$	122,579

Schedule of estimated purchase price allocation for the acquisitions

On an aggregate basis, the purchase price allocation for the 2011 acquisitions is as follows (in thousands):


Assets acquired:
Cash and cash equivalents	$	2,638
Accounts receivable		61,741
Inventories		40,246
Property and equipment		23,838
Identifiable intangible assets		23,414
Goodwill		46,282
Other current and long-term assets		15,717
Liabilities assumed:
Accounts payable		(38,617)
Accrued expenses and other current liabilities		(8,453)
Other long-term liabilities		(5,070)

Purchase price	$	161,736

2010 Acquisitions

Acquisitions

Reconciliation of the estimated aggregate purchase price for the acquisitions to the cash paid for the acquisitions, net of cash acquired

The following reconciles the aggregate purchase price for the 2010 acquisitions to the cash paid for the acquisitions, net of cash acquired (in thousands):


Purchase price	$	240,813
Less: Cash acquired		6,840

Purchase price, net of cash acquired		233,973
Less: Promissory notes issued, net of a purchase price adjustment made in 2011		25,137
Less: Common stock issued		21,070
Less: Extinguishment of certain receivables from Falmouth Oil Services Limited		6,401

Cash paid for acquisition of businesses	$	181,365

Schedule of estimated purchase price allocation for the acquisitions

On an aggregate basis, the purchase price allocation for the 2010 acquisitions is as follows (in thousands):


Assets acquired:
Cash and cash equivalents	$	6,840
Accounts receivable		115,075
Inventories		25,548
Property and equipment		19,565
Identifiable intangible assets		45,171
Goodwill		148,436
Other current and long-term assets		9,976
Liabilities assumed:
Accounts payable		(86,987)
Assumed pension fund exit fee (post employment benefits)		(11,306)
Accrued expenses and other current liabilities		(24,349)
Other long-term liabilities		(7,156)

Purchase price	$	240,813

Accounts Receivable (Tables)

12 Months Ended

Dec. 31, 2012

Accounts Receivable

Schedule of allowance for bad debt

The following table sets forth activities in our allowance for bad debt (in thousands):

	2012		2011		2010


Balance as of beginning of period	$	24,301	$	20,201	$	19,690
Charges to provision for bad debt		4,790		8,173		4,262
Write-off of uncollectible accounts receivable		(6,025)		(4,681)		(4,291)
Recoveries of bad debt		653		608		540

Balance as of end of period	$	23,719	$	24,301	$	20,201

Derivatives (Tables)

12 Months Ended

Dec. 31, 2012

Derivatives

Schedule of fair value positions of derivative instruments

Hedge Strategy	Settlement Period	Derivative Instrument	Notional	Unit	Weighted Average Fixed Price	Weighted Average Mark-to- Market Amount	Fair Value Amount


Cash Flow Hedge	2013	Foreign currency contracts (long)	1,758	EUR	0.81	0.08	$	148

Fair Value Hedge	2013	Commodity contracts for inventory hedging (long)	310	BBL	122.75	0.79	$	246
	2013	Commodity contracts for inventory hedging (short)	2,227	BBL	121.97	(0.69)		(1,539)

							$	(1,293)

Non-Designated	2013	Commodity contracts (long)	37,205	BBL	74.92	0.68	$	25,276
	2013	Commodity contracts (short)	29,588	BBL	87.34	(0.48)		(14,305)
	2014	Commodity contracts (long)	445	BBL	98.12	2.52		1,123
	2014	Commodity contracts (short)	542	BBL	99.74	(1.35)		(734)
	2015	Commodity contracts (long)	26	BBL	115.63	0.69		18
	2015	Commodity contracts (short)	26	BBL	117.24	(0.69)		(18)
	2013	Foreign currency contracts (long)	3,080	AUD	1.04	0.00		2
	2013	Foreign currency contracts (short)	11,111	AUD	1.04	0.01		81
	2013	Foreign currency contracts (long)	1,859	BRL	2.11	0.02		32
	2013	Foreign currency contracts (short)	1,366	BRL	2.10	(0.01)		(13)
	2013	Foreign currency contracts (long)	16,795	CAD	0.99	(0.00)		(67)
	2013	Foreign currency contracts (short)	12,220	CAD	0.99	0.01		69
	2013	Foreign currency contracts (long)	1,553,106	CLP	479.38	(0.00)		(10)
	2013	Foreign currency contracts (short)	892,962	CLP	483.07	0.00		12
	2013	Foreign currency contracts (long)	18,734,591	COP	1,803.89	0.00		147
	2013	Foreign currency contracts (short)	15,265,622	COP	1,803.26	(0.00)		(96)
	2013	Foreign currency contracts (short)	5,053	DKK	5.69	(0.00)		(7)
	2013	Foreign currency contracts (long)	1,175	EUR	0.75	(0.01)		(6)
	2013	Foreign currency contracts (short)	18,434	EUR	0.76	(0.01)		(175)
	2013	Foreign currency contracts (long)	47,725	GBP	0.63	0.03		1,417
	2013	Foreign currency contracts (short)	79,935	GBP	0.63	(0.03)		(2,719)
	2013	Foreign currency contracts (long)	3,538	JPY	80.71	(0.00)		(4)
	2013	Foreign currency contracts (short)	15,768	JPY	77.72	0.00		21
	2013	Foreign currency contracts (long)	381,114	MXN	12.97	(0.00)		(375)
	2013	Foreign currency contracts (short)	247,549	MXN	12.96	0.00		307
	2013	Foreign currency contracts (long)	9,400	NOK	5.58	(0.00)		(4)
	2013	Foreign currency contracts (short)	7,123	NOK	5.64	(0.00)		(13)
	2013	Foreign currency contracts (short)	4,459	PLN	3.17	(0.01)		(23)
	2013	Foreign currency contracts (short)	6,873	RON	3.48	(0.01)		(37)
	2014	Foreign currency contracts (long)	250	GBP	0.62	0.00		1
	2014	Foreign currency contracts (short)	3,090	GBP	0.63	(0.03)		(99)

							$	9,801

Schedule of derivative instruments measured at fair value and their locations on the consolidated balance sheets

The following table presents information about our derivative instruments measured at fair value and their locations on the consolidated balance sheets (in thousands):

		As of December 31,

	Balance Sheet Location	2012		2011

Derivative assets:

Derivatives designated as hedging instruments
Commodity contracts	Other current assets	$	991	$	528
Commodity contracts	Accrued expenses and other current liabilities		—		22
Foreign currency contracts	Other current assets		148		—

			1,139		550

Derivatives not designated as hedging instruments
Commodity contracts	Other current assets		67,533		59,185
Commodity contracts	Non-current other assets		1,423		2,065
Commodity contracts	Accrued expenses and other current liabilities		5,776		3,231
Commodity contracts	Other long-term liabilities		46		40
Foreign currency contracts	Other current assets		741		1,912
Foreign currency contracts	Non-current other assets		—		1,082
Foreign currency contracts	Accrued expenses and other current liabilities		1,545		—

			77,064		67,515

		$	78,203	$	68,065

Derivative liabilities:

Derivatives designated as hedging instruments
Commodity contracts	Other current assets	$	2,284	$	1,519
Commodity contracts	Accrued expenses and other current liabilities		—		21

			2,284		1,540

Derivatives not designated as hedging instruments
Commodity contracts	Other current assets		41,410		37,713
Commodity contracts	Non-current other assets		47		2
Commodity contracts	Accrued expenses and other current liabilities		20,927		16,434
Commodity contracts	Other long-term liabilities		1,034		1,213
Foreign currency contracts	Other current assets		595		413
Foreign currency contracts	Non-current other assets		—		481
Foreign currency contracts	Accrued expenses and other current liabilities		3,151		124
Foreign currency contracts	Other long-term liabilities		99		—

			67,263		56,380

		$	69,547	$	57,920

Impact of derivatives designated as fair value hedges on the consolidated statements of income and comprehensive income

Derivative Instruments	Location	Realized and Unrealized Gain (Loss)						Hedged Items	Location	Realized and Unrealized Gain (Loss)


	For the year ended December 31,								For the year ended December 31,
			2012		2011		2010				2012		2011		2010

Commodity contracts	Revenue	$	265	$	11,608	$	10,040	Firm commitments	Revenue	$	(201)	$	(12,973)	$	(7,494)
Commodity contracts	Cost of revenue		(1,417)		(6,926)		(739)	Firm commitments	Cost of revenue		739		7,771		(797)
Commodity contracts	Cost of revenue		(19,717)		(26,039)		(12,563)	Inventories	Cost of revenue		23,972		38,377		21,419

		$	(20,869)	$	(21,357)	$	(3,262)			$	24,510	$	33,175	$	13,128

Impact of derivatives designated as hedges on the accumulated other comprehensive income and consolidated statements of income and comprehensive income

Derivative Instruments	Amount of Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Effective Portion)					Location of Realized Gain (Loss) (Effective Portion)


For the year ended December 31,						For the year ended December 31,
		2012	2011		2010		2012	2011		2010

Foreign currency contracts	$	—	$—	$	1,799	Revenue	$—	$—	$	1,107
Foreign currency contracts		196	—		(81)	Other income (expense), net	48	—		(81)

	$	196	$—	$	1,718		$48	$—	$	1,026

Impact of derivatives not designated as hedges on the consolidated statements of income and comprehensive income

Derivatives	Location	Realized and Unrealized Gain (Loss)


			For the Year ended December 31,
			2012		2011		2010

Commodity contracts	Revenue	$	14,967	$	14,283	$	4,385
Commodity contracts	Cost of revenue		3,333		3,137		(1,001)
Foreign currency contracts	Revenue		(2,384)		1,653		—
Foreign currency contracts	Other income (expense), net		(2,271)		(386)		2,536

		$	13,645	$	18,687	$	5,920

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624163-113959

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41641-113959

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41638-113959

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41678-113959

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5580258-113959

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624171-113959

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5579245-113959

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5579240-113959

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 25
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6886632&loc=d3e76258-113986

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(n)(2))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41620-113959

+ Details

Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2012

Property and Equipment

Schedule of property and equipment and their respective estimated useful lives

The amount of property and equipment and their respective estimated useful lives are as follows (in thousands, except estimated useful lives):

	As of December 31,

	As of December 31,				Estimated Useful Lives
	2012		2011		Estimated Useful Lives

Land	$	4,653	$	5,008	Indefinite
Buildings and leasehold improvements		21,081		14,640	3 - 15 years
Office equipment, furniture and fixtures		8,415		6,467	3 - 7 years
Computer equipment and software costs		80,233		67,498	3 - 9 years
Machinery, equipment and vehicles		66,122		48,318	3 - 30 years

		180,504		141,931
Accumulated depreciation and amortization		67,979		51,221

	$	112,525	$	90,710

Schedule of amount of computer software costs, including capitalized internally developed software costs

The amount of computer software costs, including capitalized internally developed software costs are as follows (in thousands):

As of December 31,

	2012		2011

Computer software costs	$	60,465	$	50,592
Accumulated amortization		27,710		20,481

Computer software costs, net	$	32,755	$	30,111

Schedule of assets and accumulated amortization recorded under capital leases

The assets and accumulated amortization recorded under capital leases are as follows (in thousands):

As of December 31,

	2012		2011

Capital leases	$	4,489	$	4,236
Accumulated amortization		816		713

Capital leases, net	$	3,673	$	3,523

Goodwill and Identifiable Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2012

Goodwill and Identifiable Intangible Assets

Schedule of changes in goodwill

The following table provides information regarding changes in goodwill (in thousands):

	Aviation Segment		Marine Segment		Land Segment		Total


As of December 31, 2010	$	61,608	$	71,220	$	154,606	$	287,434
2011 acquisitions		38,506		1,963		4,057		44,526
Adjustment of purchase price allocations – 2010 acquisitions		2,395		(1,755)		14,552		15,192
Foreign currency translation of non-USD functional currency subsidiary goodwill		—		(906)		—		(906)

As of December 31, 2011		102,509		70,522		173,215		346,246
2012 acquisitions		8,028		—		115,165		123,193
Adjustment of purchase price allocations – 2011 acquisitions		(1,106)		—		2,863		1,757
Foreign currency translation of non-USD functional currency subsidiary goodwill		(99)		(591)		—		(690)

As of December 31, 2012	$	109,332	$	69,931	$	291,243	$	470,506

Schedule of identifiable intangible assets

The following table provides information about our identifiable intangible assets (in thousands):

	As of December 31, 2012						As of December 31, 2011


	Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net

Intangible assets subject to amortization:
Customer relationships	$	173,376	$	61,562	$	111,814	$	121,102	$	47,009	$	74,093
Supplier agreements		33,248		5,531		27,717		24,788		3,562		21,226
Others		19,878		6,143		13,735		9,252		4,538		4,714

		226,502		73,236		153,266		155,142		55,109		100,033
Intangible assets not subject to amortization:
Trademark/trade name rights		19,007		—		19,007		7,587		—		7,587

	$	245,509	$	73,236	$	172,273	$	162,729	$	55,109	$	107,620

Schedule of future estimated amortization of identifiable intangible assets

The future estimated amortization of our identifiable intangible assets is as follows (in thousands):

Year Ended December 31,


2013	$	22,170
2014		20,128
2015		17,559
2016		14,718
2017		12,749
Thereafter		65,942

	$	153,266

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References + Details

Debt (Tables)

12 Months Ended

Dec. 31, 2012

Debt

Schedule of debt

Our debt consisted of the following (in thousands):

	As of December 31,

	2012		2011

Credit Facility and Term Loans	$	348,000	$	250,000
Acquisition promissory notes		25,878		30,554
Other		6,440		6,594

Total debt		380,318		287,148
Current maturities of long-term debt		26,065		17,800

Long-term debt	$	354,253	$	269,348

Schedule of aggregate annual maturities of debt

As of December 31, 2012, the aggregate annual maturities of debt are as follows (in thousands):

Year Ended December 31,


2013	$	26,065
2014		24,848
2015		18,202
2016		311,203

	$	380,318

Schedule of interest income and expense and other financing costs, net

The following table provides additional information about our interest income and expense and other financing costs, net (in thousands):

	2012		2011		2010


Interest income	$	908	$	788	$	714
Interest expense and other financing costs		(20,005)		(16,613)		(5,459)

	$	(19,097)	$	(15,825)	$	(4,745)

Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2012

Shareholders' Equity

Schedule of outstanding awards issued pursuant to plans

Plan name	Restricted Stock	RSUs	SSAR Awards	Remaining shares of common stock available for future issuance


2006 Plan (1)	1,100	981	422	3,824

(1): As of December 31, 2012, unvested restricted stock will vest between March 2013 and March 2018, unvested RSUs will vest between January 2013 and May 2017 and the outstanding SSAR Awards will expire between March 2013 and October 2015. RSUs granted to non-employee directors under the 2006 Plan prior to 2011 remain outstanding until the date the non-employee director ceases, for any reason, to be a member of the Board of Directors.

Schedule of unvested restricted stock outstanding

Unvested Restricted Stock Outstanding

	Unvested Restricted Stock	Weighted Average Grant-date Fair Value Price		Aggregate Intrinsic Value		Weighted Average Remaining Vesting Term (in Years)

As of December 31, 2009	419	$	20.88	$	11,245		1.7
Vested	(26)		21.30
Forfeited	(7)		20.95

As of December 31, 2010	386		20.84		13,991		0.6
Granted	353		37.40
Vested	(284)		20.49
Forfeited	(9)		26.45

As of December 31, 2011	446		34.07		18,707		2.2
Granted	798		40.19
Vested	(128)		26.26
Forfeited	(16)		37.24

As of December 31, 2012	1,100	$	39.38	$	45,295		3.4

Schedule of RSUs

RSUs Outstanding

	RSUs	Weighted Average Grant-date Fair Value		Aggregate Intrinsic Value		Weighted Average Remaining Contractual Life (in Years)

As of December 31, 2009	901	$	14.52	$	24,131		2.5
Granted	343		28.32
Issued	(11)		14.03
Forfeited	(15)		19.91

As of December 31, 2010	1,218		18.34		44,038		2.6
Granted	224		38.01
Issued	(515)		14.03
Forfeited	(26)		16.19

As of December 31, 2011	901		25.59		37,373		1.7
Granted	369		40.98
Issued	(275)		16.12
Forfeited	(14)		30.74

As of December 31, 2012	981	$	34.06	$	39,888		1.5

Schedule of outstanding and exercisable SSAR Awards

	SSAR Awards Outstanding								SSAR Awards Exercisable


	SSAR Awards		Weighted Average Exercise Price		Aggregate Intrinsic Value		Weighted Average Remaining Contractual Life (in Years)		SSAR Awards		Weighted Average Exercise Price		Aggregate Intrinsic Value		Weighted Average Remaining Contractual Life (in Years)

As of December 31, 2009		2,061	$	16.70	$	20,914		2.1		1,419	$	17.62	$	13,109		1.6
Granted		36		24.89
Exercised		(1,085)		17.52

As of December 31, 2010		1,012		16.10		20,346		1.9		480		18.29		8,619		1.3
Exercised		(486)		16.56
Forfeited		(9)		12.39

As of December 31, 2011		517		15.06		13,921		1.4		410		15.39		10,895		1.4
Exercised		(95)		16.76

As of December 31, 2012		422	$	15.30	$	10,927		0.6		322	$	16.02	$	8,108		0.7

Schedule of unrecognized compensation cost

The unrecognized compensation cost as of December 31, 2012 is expected to be recognized as compensation expense over a weighted average period of 1.5 years as follows (in thousands):

Year Ended December 31,


2013	$	13,791
2014		10,706
2015		5,392
2016		2,680
2017		640

	$	33,209

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Income Taxes

Schedule of U.S. and foreign income (loss) before income taxes

U.S. and foreign income (loss) before income taxes consist of the following (in thousands):

	2012		2011		2010


United States	$	49,021	$	56,836	$	(2,886)
Foreign		190,574		181,367		180,416

	$	239,595	$	238,203	$	177,530

Schedule of components of income tax provision (benefit)

The income tax provision (benefit) related to income before income taxes consists of the following components (in thousands):

	2012		2011		2010


Current:
U.S. federal statutory tax	$	6,858	$	7,685	$	12,245
State		938		2,767		1,358
Foreign		24,649		27,514		22,367

		32,445		37,966		35,970

Deferred:
U.S. federal statutory tax		7,642		6,218		(3,776)
State		1,380		2,194		(1,926)
Foreign		643		(6,771)		(1,677)

		9,665		1,641		(7,379)

Non-current tax (income) expense		(3,866)		(606)		2,436

	$	38,244	$	39,001	$	31,027

Reconciliation of the U.S. federal statutory income tax rate to effective income tax rate

	2012	2011	2010


U.S. federal statutory tax rate	35.0%	35.0%	35.0%
Foreign earnings, net of foreign taxes	(16.7)	(18.7)	(18.6)
State income taxes, net of U.S. federal income tax benefit	0.6	1.3	0.1
Other permanent differences	(2.9)	(1.2)	1.0

Effective income tax rate	16.0%	16.4%	17.5%

Schedule of net deferred income tax (liabilities) assets

The temporary differences which comprise our net deferred income tax (liabilities) assets are as follows (in thousands):

	As of December 31,

	2012		2011

Gross Deferred Income Tax Assets:
Excess of provision for bad debts over charge-offs	$	4,573	$	4,744
Net operating loss		675		66
Accrued compensation expenses recognized for financial reporting purposes, not currently deductible for tax purposes		14,909		20,099
Accrued expenses		2,069		1,680
Unrealized derivative losses		316		—
Customer deposits		7,545		6,154
Unrealized foreign exchange		914		906

Total gross deferred income tax assets		31,001		33,649
Less: Valuation allowance		—		—

Gross deferred income tax assets, net of valuation allowance		31,001		33,649

Deferred Income Tax Liabilities:
Excess of tax over financial reporting for depreciation of fixed assets		(11,999)		(4,650)
Excess of tax over financial reporting amortization of identifiable intangible assets and goodwill		(23,108)		(15,772)
Prepaid expenses, deductible for tax purposes		(1,719)		(1,204)
Unrealized derivative gains		—		(5,572)
Other		(1,330)		(834)

Gross deferred income tax liabilities		(38,156)		(28,032)

Net deferred income tax (liabilities) assets	$	(7,155)	$	5,617

Reported on the consolidated balance sheets as:
Other current assets for deferred income tax assets, current	$	15,282	$	13,238

Non-current other assets for deferred income tax assets, non-current	$	5,406	$	2,661

Accrued expenses and other current liabilities for deferred income tax liabilities, current	$	6,084	$	1,009

Non-current income tax liabilities, net for deferred income tax liabilities, non-current	$	21,759	$	9,273

Schedule of reconciliation of the total amounts of unrecognized income tax benefits

	2012		2011		2010


Unrecognized tax benefit – opening balance	$	25,574	$	26,293	$	27,158
Gross decreases – tax positions in prior period		(7,659)		—		—
Gross increases – tax positions in current period		5,730		5,890		4,095
Gross decreases – tax positions in current period		—		(64)		(1,629)
Settlements		—		(62)		—
Lapse of statute of limitations		(1,251)		(6,483)		(3,331)

Unrecognized tax benefit – ending balance	$	22,394	$	25,574	$	26,293

Schedule of open tax years by jurisdiction with major uncertain tax positions

Jurisdiction	Examination in progress	Open Tax Year


United States	None	2008-2012
Singapore	None	2009-2012
United Kingdom	None	2007-2012
Brazil	2009	2008-2012
South Korea	None	2007-2012
Netherlands	None	2010-2012
Chile	None	2009-2012
Denmark	None	2004-2012

- Definition

Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.

+ References + Details

- Definition

Tabular disclosure of income tax examinations that an enterprise is currently subject to or that have been completed in the current period typically including a description of the examination, the jurisdiction conducting the examination, the tax year(s) under examination, the likelihood of an unfavorable settlement, the range of possible losses, the liability recorded, the increase or decrease in the liability from the prior period, and any penalties and interest that have been recorded.

+ References + Details

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2012

Commitments and Contingencies

Schedule of future minimum lease payments under non-cancelable operating leases

As of December 31, 2012, our future minimum lease payments under non-cancelable operating leases were as follows (in thousands):

Year Ended December 31,


2013	$	47,938
2014		26,694
2015		21,395
2016		16,009
2017		10,880
Thereafter		31,525

	$	154,441

Schedule of future minimum commitments under agreement with executive officers and key employees

As of December 31, 2012, the approximate future minimum commitments under these agreements, excluding discretionary and performance bonuses, are as follows (in thousands):

Year Ended December 31,


2013	$	3,463
2014		2,265
2015		1,825
2016		1,825

	$	9,378

Schedule of cash and share-based awards earned by entity's NEOs

	2011		2010


Cash awards earned	$	9,275	$	7,306
Share-based awards earned		9,604		5,913

Total earned	$	18,879	$	13,219

Compensation expense recorded**	$	11,535	$	8,651

**: The remaining compensation expense will be recorded in future periods corresponding with the share-based awards' vesting terms.

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2012

Fair Value Measurements

Schedule of assets and liabilities measured at estimated fair value on a recurring basis

The following table presents information about our assets and liabilities that are measured at fair value on a recurring basis as of December 31, 2012 and 2011 (in thousands):

	Level 1		Level 2		Level 3		Sub-Total		Netting and Collateral		Total


2012
Assets:
Commodity contracts	$	18,087	$	57,682	$	—	$	75,769	$	(56,115)	$	19,654
Foreign currency contracts		—		2,434		—		2,434		(2,289)		145
Hedged item inventories		—		818		—		818		—		818

	$	18,087	$	60,934	$	—	$	79,021	$	(58,404)	$	20,617

Liabilities:
Commodity contracts	$	20,970	$	44,732	$	—	$	65,702	$	(49,562)	$	16,140
Foreign currency contracts		—		3,845		—		3,845		(2,289)		1,556
Hedged item inventories		—		525		—		525		—		525

	$	20,970	$	49,102	$	—	$	70,072	$	(51,851)	$	18,221

2011
Assets:
Commodity contracts	$	14,038	$	51,033	$	—	$	65,071	$	(43,275)	$	21,796
Foreign currency contracts		—		2,994		—		2,994		(893)		2,101
Hedged item inventories		—		3,216		—		3,216		—		3,216
Hedged item commitments		—		206		—		206		—		206

	$	14,038	$	57,449	$	—	$	71,487	$	(44,168)	$	27,319

Liabilities:
Commodity contracts	$	10,148	$	46,754	$	—	$	56,902	$	(43,291)	$	13,611
Foreign currency contracts		—		1,018		—		1,018		(893)		125
Hedged item commitments		—		24		—		24		—		24
Earn-out		—		—		4,194		4,194		—		4,194

	$	10,148	$	47,796	$	4,194	$	62,138	$	(44,184)	$	17,954

Schedule of assets and liabilities that are measured at fair value on a recurring basis that utilized Level 3 inputs

The following table presents information about our assets and liabilities that are measured at fair value on a recurring basis that utilized Level 3 inputs for the periods presented (in thousands):

	Beginning of Period		Total Gains (Losses) Included in Earnings		Settlements		End of Period		Change in Unrealized Gains Relating to Assets and Liabilities that are Held at end of Period		Location of Total Gains (Losses) Included in Earnings


2012
Assets:
Commodity contracts	$	—	$	1,271	$	1,271	$	—	$	—	Revenue

Liabilities:
Earn-out	$	4,194	$	(110)	$	4,304	$	—	$	—	Other income (expense), net

2011
Assets:
Commodity contracts	$	90	$	—	$	90	$	—	$	—	Revenue

Liabilities:
Earn-out	$	5,012	$	818	$	—	$	4,194	$	818	Other income (expense), net

Business Segments, Geographic Information, and Major Customers (Tables)

12 Months Ended

Dec. 31, 2012

Business Segments, Geographic Information, and Major Customers

Schedule of revenue, gross profit, income from operations, depreciation and amortization and capital expenditures by segment

Information concerning our revenue, gross profit, income from operations, depreciation and amortization and capital expenditures by segment is as follows (in thousands):

	For the Year ended December 31,

	2012		2011		2010

Revenue:
Aviation segment	$	14,692,042	$	12,866,019	$	7,132,749
Marine segment		14,750,425		14,565,086		9,220,998
Land segment		9,502,871		7,191,749		2,777,400

	$	38,945,338	$	34,622,854	$	19,131,147

Gross profit:
Aviation segment	$	294,601	$	306,112	$	215,130
Marine segment		208,028		195,109		165,344
Land segment		170,818		133,782		61,667

	$	673,447	$	635,003	$	442,141

Income from operations:
Aviation segment	$	128,153	$	146,411	$	118,351
Marine segment		103,229		95,982		84,656
Land segment		75,291		62,049		15,948

		306,673		304,442		218,955
Corporate overhead – unallocated		49,650		47,470		38,089

	$	257,023	$	256,972	$	180,866

Depreciation and amortization:
Aviation segment, includes allocation from corporate	$	17,381	$	23,392	$	5,105
Marine segment, includes allocation from corporate		5,387		3,942		4,178
Land segment, includes allocation from corporate		10,406		9,825		7,362
Corporate		3,540		3,371		2,461

	$	36,714	$	40,530	$	19,106

Capital expenditures:
Aviation segment	$	4,713	$	2,230	$	510
Marine segment		8,981		3,714		3,109
Land segment		7,243		3,031		1,243
Corporate		7,517		10,517		10,326

	$	28,454	$	19,492	$	15,188

Schedule of accounts receivable, net, goodwill, identifiable intangible assets, net and total assets by segment

Information concerning our accounts receivable, net, goodwill, identifiable intangible assets, net and total assets by segment is as follows (in thousands):

	As of December 31,

	2012		2011

Accounts receivable, net:
Aviation segment, net of allowance for bad debt of $8,997 and $8,441 as of December 31, 2012 and 2011, respectively	$	674,973	$	569,086
Marine segment, net of allowance for bad debt of $7,742 and $9,495 as of December 31, 2012 and 2011, respectively		1,069,833		1,261,340
Land segment, net of allowance for bad debt of $6,980 and $6,365 as of December 31, 2012 and 2011, respectively		449,060		330,135

	$	2,193,866	$	2,160,561

Goodwill:
Aviation segment	$	109,332	$	102,509
Marine segment		69,931		70,522
Land segment		291,243		173,215

	$	470,506	$	346,246

Identifiable intangible assets, net:
Aviation segment	$	38,874	$	42,880
Marine segment		6,656		8,659
Land segment		126,743		56,081

	$	172,273	$	107,620

Total assets:
Aviation segment	$	1,463,423	$	1,149,031
Marine segment		1,330,796		1,568,378
Land segment		1,145,756		816,595
Corporate		167,776		163,242

	$	4,107,751	$	3,697,246

Schedule of revenue, income from operations, non-current assets and total assets by geographic segment

	For the Year ended December 31,

	2012		2011		2010

Revenue:
Americas (1)	$	23,293,260	$	19,965,339	$	10,250,360
EMEA (2)		7,247,754		6,695,315		3,472,934
Asia/Pacific (3)		8,404,324		7,962,200		5,407,853

	$	38,945,338	$	34,622,854	$	19,131,147

Income from operations:
Americas (4)	$	103,005	$	92,083	$	38,419
EMEA		82,964		76,881		59,249
Asia/Pacific		71,054		88,008		83,198

	$	257,023	$	256,972	$	180,866

	As of December 31,

	2012		2011

Non-current assets:
Americas (5)	$	610,434	$	439,388
EMEA		214,607		134,311
Asia/Pacific		1,333		1,320

	$	826,374	$	575,019

Total assets:
Americas (6)	$	2,273,945	$	1,975,561
EMEA		1,122,007		946,789
Asia/Pacific		711,799		774,896

	$	4,107,751	$	3,697,246

(1): Includes revenue related to the United States of $20.2 billion, $17.5 billion and $8.7 billion for 2012, 2011 and 2010, respectively.
(2): Includes revenue related to the United Kingdom of $5.2 billion, $5.0 billion and $2.6 billion for 2012, 2011 and 2010, respectively.
(3): Includes revenue related to Singapore of $8.4 billion, $8.0 billion and $5.4 billion for 2012, 2011 and 2010, respectively.
(4): Includes income from operations related to the United States of $67.0 million, $59.8 million and $1.6 million for 2012, 2011 and 2010, respectively.
(5): Includes non-current assets related to the United States of $596.7 million and $425.2 million as of December 31, 2012 and 2011, respectively.
(6): Includes total assets related to the United States of $2.0 billion and $1.7 billion as of December 31, 2012 and 2011, respectively.

Summary Quarterly Information (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2012

Summary Quarterly Information (Unaudited)

Summary Quarterly Information (Unaudited)

The following is a summary of the unaudited quarterly results for 2012 and 2011 (in thousands, except earnings per share data):

	March 31, 2012		June 30, 2012		September 30, 2012 (1)		December 31, 2012 (1)


Revenue	$	9,479,055	$	9,618,797	$	9,911,673	$	9,935,813

Gross profit	$	157,235	$	172,123	$	180,752	$	163,337

Net income including noncontrolling interest	$	48,546	$	54,882	$	52,898	$	45,025

Net income attributable to World Fuel	$	46,415	$	48,600	$	51,494	$	42,836

Basic earnings per common share (4)	$	0.65	$	0.68	$	0.72	$	0.60

Diluted earnings per common share (4)	$	0.65	$	0.68	$	0.72	$	0.60

	March 31, 2011 (2)		June 30, 2011 (2)(3)		September 30, 2011 (2)(3)		December 31, 2011 (2)(3)


Revenue	$	7,079,406	$	8,708,709	$	9,510,792	$	9,323,947

Gross profit	$	136,768	$	165,102	$	170,847	$	162,286

Net income including noncontrolling interest	$	41,657	$	50,673	$	53,842	$	53,030

Net income attributable to World Fuel	$	41,109	$	50,203	$	52,655	$	50,062

Basic earnings per common share	$	0.59	$	0.71	$	0.74	$	0.70

Diluted earnings per common share (4)	$	0.58	$	0.70	$	0.74	$	0.70

(1): Includes the CarterEnergy business operations since September 1, 2012 as a result of the acquisition.
(2): Includes NCS operations since March 1, 2011 as a result of the acquisition.
(3): Includes Ascent operations since April 1, 2011 as a result of the acquisition.
(4): Basic and diluted earnings per share are computed independently for each quarter and the full year based upon respective weighted average shares outstanding. Therefore, the sum of the quarterly basic and diluted earnings per share amounts may not equal the annual basic earnings per share amount reported.

Nature of Business, Acquisitions, Significant Accounting Policies and Recent Accounting Pronouncements (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2012 USD ($) gal Item	Dec. 31, 2011 USD ($) Item	Dec. 31, 2010 USD ($) Item	Sep. 01, 2012 Item	Apr. 02, 2011 Item
Estimated aggregate purchase price of acquisitions
Less: Promissory notes issued	$ 7,200	$ 9,000	$ 26,500
Cash paid for acquisition of businesses	217,782	122,702	177,807
Intangible assets
Acquisition of business, goodwill amount recorded	$ 123,193	44,526
Earnings per common share:
Number of reportable operating business segments \| Item	3
Accounts Receivable Purchase Agreement
Maximum amount of accounts receivable to be sold under a Receivables Purchase Agreement ("RPA")	$ 125,000
Percentage rate added to floating market rate to get discount margin	2.00%
Accounts receivable sold	$ 60,100
Retained beneficial interest recorded	3,800
Other Investments
Other investments	41,700
Extinguishment of Liability
Derecognized vendor liability accruals amount	11,200	8,300	9,800
Foreign Currency
Net foreign currency transaction gain	100
Net foreign currency transaction losses		2,700	1,800
Net (loss) gain on foreign currency translation adjustment	(9,606)	(11,277)	958
Cumulative foreign currency translation adjustment losses	(16,018)	(6,524)	4,800
Aviation segment
Intangible assets
Acquisition of business, goodwill amount recorded	8,028	38,506
Land segment
Intangible assets
Acquisition of business, goodwill amount recorded	115,165	4,057
Marine segment
Intangible assets
Acquisition of business, goodwill amount recorded		1,963
2012 Acquisitions
Estimated aggregate purchase price of acquisitions
Purchase price	226,485
Less: Cash acquired	12,771
Purchase price, net of cash acquired	213,714
Less: Promissory notes issued	7,214
Less: Amounts due to sellers, net	17,669
Cash paid for acquisition of businesses	188,831
Assets acquired:
Cash and cash equivalents	12,771
Accounts receivable	135,304
Inventories	7,311
Property and equipment	11,034
Identifiable intangible assets	83,890
Goodwill	123,193
Other current and long-term assets	4,798
Liabilities assumed:
Accounts payable	(130,107)
Accrued expenses and other current liabilities	(18,544)
Other long-term liabilities	(3,165)
Estimate purchase price	226,485
Intangible assets
Goodwill anticipated to be deductible for tax purposes	87,900
2012 Acquisitions \| Aviation segment
Intangible assets
Acquisition of business, goodwill amount recorded	8,000
2012 Acquisitions \| Land segment
Intangible assets
Acquisition of business, goodwill amount recorded	115,200
2012 Acquisitions \| Trademark/Trade name rights
Intangible assets
Acquired identifiable indefinite-lived intangible assets	11,400
2012 Acquisitions \| Customer relationships
Intangible assets
Acquired identifiable finite-lived intangible assets	$ 53,600
Weighted average amortizable lives of identifiable intangible assets	6 years 8 months 12 days
2012 Acquisitions \| Other identifiable intangible assets
Intangible assets
Acquired identifiable finite-lived intangible assets	$ 18,900
Weighted average amortizable lives of identifiable intangible assets	7 years
2012 Acquisitions \| Multi Service Corporation
Acquisitions
Minimum number of truck stops for global fuel procurement and commercial payment programs \| Item	3,500
2012 Acquisitions \| Carter Energy Corporation
Acquisitions
Minimum number of retail operators, to whom, acquired company distributes gasoline and diesel fuel \| Item				700
2012 Acquisitions \| Immaterial Business Acquisitions
Acquisitions
Number of businesses acquired \| gal	3
2012 Acquisitions \| Immaterial Business Acquisitions \| Aviation segment
Acquisitions
Number of businesses acquired \| Item	2
2011 Acquisitions
Estimated aggregate purchase price of acquisitions
Purchase price		161,736
Less: Cash acquired		2,638
Purchase price, net of cash acquired		159,098
Less: Promissory notes issued		9,028
Less: Common stock issued		27,491
Cash paid for acquisition of businesses		122,579
Cash paid on purchase price adjustments	$ 700
Assets acquired:
Cash and cash equivalents		2,638
Accounts receivable		61,741
Inventories		40,246
Property and equipment		23,838
Identifiable intangible assets		23,414
Goodwill		46,282
Other current and long-term assets		15,717
Liabilities assumed:
Accounts payable		(38,617)
Accrued expenses and other current liabilities		(8,453)
Other long-term liabilities		(5,070)
Estimate purchase price		$ 161,736
2011 Acquisitions \| Carter Energy Corporation
Acquisitions
Minimum number of retail operators, to whom, acquired company distributes gasoline and diesel fuel \| Item					450
2011 Acquisitions \| Immaterial Business Acquisitions \| Aviation segment
Acquisitions
Number of businesses acquired \| Item		3
2011 Acquisitions \| Immaterial Business Acquisitions \| Land segment
Acquisitions
Number of businesses acquired \| Item		2
2011 Acquisitions \| Immaterial Business Acquisitions \| Marine segment
Acquisitions
Number of businesses acquired \| Item		1
2010 Acquisitions
Estimated aggregate purchase price of acquisitions
Purchase price			240,813
Less: Cash acquired			6,840
Purchase price, net of cash acquired			233,973
Less: Promissory notes issued			25,137
Less: Common stock issued			21,070
Less: Extinguishment of certain receivables from Falmouth Oil Services Limited			6,401
Cash paid for acquisition of businesses			181,365
Cash paid on purchase price adjustments		$ 3,600
Assets acquired:
Cash and cash equivalents			6,840
Accounts receivable			115,075
Inventories			25,548
Property and equipment			19,565
Identifiable intangible assets			45,171
Goodwill			148,436
Other current and long-term assets			9,976
Liabilities assumed:
Accounts payable			(86,987)
Assumed pension fund exit fee (post employment benefits)			(11,306)
Accrued expenses and other current liabilities			(24,349)
Other long-term liabilities			(7,156)
Estimate purchase price			$ 240,813
2010 Acquisitions \| Hiller
Acquisitions
Minimum number of retail operators, to whom, acquired company distributes gasoline and diesel fuel \| Item			425

Nature of Business, Acquisitions, Significant Accounting Policies and Recent Accounting Pronouncements (Details 2) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Numerator:
Net income attributable to World Fuel	$ 42,836	$ 51,494	$ 48,600	$ 46,415	$ 50,062	$ 52,655	$ 50,203	$ 41,109	$ 189,345	$ 194,029	$ 146,865
Denominator:
Weighted average common shares for basic earnings per common share									71,154	70,687	62,168
Effect of dilutive securities (in shares)									663	823	1,273
Weighted average common shares for diluted earnings per common share									71,817	71,510	63,441
Weighted average securities which are not included in the calculation of diluted earnings per common share (in shares)									603	103	305
Basic earnings per common share (in dollars per share)	$ 0.60	$ 0.72	$ 0.68	$ 0.65	$ 0.70	$ 0.74	$ 0.71	$ 0.59	$ 2.66	$ 2.74	$ 2.36
Diluted earnings per common share (in dollars per share)	$ 0.60	$ 0.72	$ 0.68	$ 0.65	$ 0.70	$ 0.74	$ 0.70	$ 0.58	$ 2.64	$ 2.71	$ 2.31

- Definition

Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.

+ References

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+ Details

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References + Details

- Definition

The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period.

+ References + Details

- Definition

Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period.

+ References

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+ Details

Accounts Receivable (Details) - USD ($) $ in Thousands	12 Months Ended
Accounts Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Accounts Receivable
Accounts receivable, net of allowance	$ 2,193,866	$ 2,160,561
Allowance for bad debt
Activities in allowance for bad debt
Balance as of beginning of period	24,301	20,201	$ 19,690
Charges to provision for bad debt	4,790	8,173	4,262
Write-off of uncollectible accounts receivable	(6,025)	(4,681)	(4,291)
Recoveries of bad debt	653	608	540
Balance as of end of period	$ 23,719	$ 24,301	$ 20,201

Derivatives (Details) € in Thousands, ¥ in Thousands, £ in Thousands, zł in Thousands, kr in Thousands, kr in Thousands, bbl in Thousands, R$ in Thousands, $ in Thousands, $ in Thousands, $ in Thousands, $ in Thousands, $ in Thousands, $ in Thousands, in Thousands	12 Months Ended
	Dec. 31, 2012 USD ($) bbl $ / bbl $ / $ $ / € $ / £ $ / $ $ / $ $ / R$ $ / $ $ / kr $ / ¥ $ / kr $ / zł $ / $ / $	Dec. 31, 2011 USD ($)	Dec. 31, 2012 GBP (£) bbl $ / bbl $ / $ $ / € $ / £ $ / $ $ / $ $ / R$ $ / $ $ / kr $ / ¥ $ / kr $ / zł $ / $ / $	Dec. 31, 2012 EUR (€) bbl $ / bbl $ / $ $ / € $ / £ $ / $ $ / $ $ / R$ $ / $ $ / kr $ / ¥ $ / kr $ / zł $ / $ / $	Dec. 31, 2012 AUD ($) bbl $ / bbl $ / $ $ / € $ / £ $ / $ $ / $ $ / R$ $ / $ $ / kr $ / ¥ $ / kr $ / zł $ / $ / $	Dec. 31, 2012 JPY (¥) bbl $ / bbl $ / $ $ / € $ / £ $ / $ $ / $ $ / R$ $ / $ $ / kr $ / ¥ $ / kr $ / zł $ / $ / $	Dec. 31, 2012 CAD ($) bbl $ / bbl $ / $ $ / € $ / £ $ / $ $ / $ $ / R$ $ / $ $ / kr $ / ¥ $ / kr $ / zł $ / $ / $	Dec. 31, 2012 BRL (R$) bbl $ / bbl $ / $ $ / € $ / £ $ / $ $ / $ $ / R$ $ / $ $ / kr $ / ¥ $ / kr $ / zł $ / $ / $	Dec. 31, 2012 CLP ($) bbl $ / bbl $ / $ $ / € $ / £ $ / $ $ / $ $ / R$ $ / $ $ / kr $ / ¥ $ / kr $ / zł $ / $ / $	Dec. 31, 2012 COP ($) bbl $ / bbl $ / $ $ / € $ / £ $ / $ $ / $ $ / R$ $ / $ $ / kr $ / ¥ $ / kr $ / zł $ / $ / $	Dec. 31, 2012 DKK (kr) bbl $ / bbl $ / $ $ / € $ / £ $ / $ $ / $ $ / R$ $ / $ $ / kr $ / ¥ $ / kr $ / zł $ / $ / $	Dec. 31, 2012 MXN ($) bbl $ / bbl $ / $ $ / € $ / £ $ / $ $ / $ $ / R$ $ / $ $ / kr $ / ¥ $ / kr $ / zł $ / $ / $	Dec. 31, 2012 NOK (kr) bbl $ / bbl $ / $ $ / € $ / £ $ / $ $ / $ $ / R$ $ / $ $ / kr $ / ¥ $ / kr $ / zł $ / $ / $	Dec. 31, 2012 PLN (zł) bbl $ / bbl $ / $ $ / € $ / £ $ / $ $ / $ $ / R$ $ / $ $ / kr $ / ¥ $ / kr $ / zł $ / $ / $	Dec. 31, 2012 RON ( ) bbl $ / bbl $ / $ $ / € $ / £ $ / $ $ / $ $ / R$ $ / $ $ / kr $ / ¥ $ / kr $ / zł $ / $ / $
Derivatives
Unrealized net gain on cash flow hedges	$ 100
Unrealized net gain related to the ineffectiveness between the entity's derivative hedging instruments and hedged items	1,000	$ 2,400
Unrealized net gain (loss) related to non-designated derivative positions	$ 9,800	$ 11,100
Derivatives designated as hedging instruments \| Cash flow hedges \| Foreign currency contracts (long) \| 2013 \| EUR
Derivative instruments, at their respective fair value positions
Notional value of commodity contracts \| €				1,758
Weighted Average Fixed Price of cash flow hedge commodity contracts \| $ / €	0.81		0.81	0.81	0.81	0.81	0.81	0.81	0.81	0.81	0.81	0.81	0.81	0.81	0.81
Weighted Average Mark-to-Market Amount of cash flow hedge commodity contracts \| $ / €	0.08		0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.08
Fair value of cash flow hedge commodity contracts	$ 148
Derivatives designated as hedging instruments \| Fair value hedges
Derivative instruments, at their respective fair value positions
Mark-to-Market, Total	$ (1,293)
Derivatives designated as hedging instruments \| Fair value hedges \| Commodity contract inventory (long) \| 2013 \| BBL
Derivative instruments, at their respective fair value positions
Notional value of commodity contracts \| bbl	310		310	310	310	310	310	310	310	310	310	310	310	310	310
Weighted Average Fixed Price of fair value hedge commodity contracts \| $ / bbl	122.75		122.75	122.75	122.75	122.75	122.75	122.75	122.75	122.75	122.75	122.75	122.75	122.75	122.75
Weighted Average Mark-to-Market Amount of fair value hedge commodity contracts \| $ / bbl	0.79		0.79	0.79	0.79	0.79	0.79	0.79	0.79	0.79	0.79	0.79	0.79	0.79	0.79
Fair value hedge commodity contracts	$ 246
Derivatives designated as hedging instruments \| Fair value hedges \| Commodity contract inventory (short) \| 2013 \| BBL
Derivative instruments, at their respective fair value positions
Notional value of commodity contracts \| bbl	2,227		2,227	2,227	2,227	2,227	2,227	2,227	2,227	2,227	2,227	2,227	2,227	2,227	2,227
Weighted Average Fixed Price of fair value hedge commodity contracts \| $ / bbl	121.97		121.97	121.97	121.97	121.97	121.97	121.97	121.97	121.97	121.97	121.97	121.97	121.97	121.97
Weighted Average Mark-to-Market Amount of fair value hedge commodity contracts \| $ / bbl	(0.69)		(0.69)	(0.69)	(0.69)	(0.69)	(0.69)	(0.69)	(0.69)	(0.69)	(0.69)	(0.69)	(0.69)	(0.69)	(0.69)
Fair value hedge commodity contracts	$ (1,539)
Derivatives not designated as hedging instruments
Derivative instruments, at their respective fair value positions
Mark-to-Market, Total	$ 9,801
Derivatives not designated as hedging instruments \| Commodity contract (long) \| 2013 \| BBL
Derivative instruments, at their respective fair value positions
Notional value of commodity contracts \| bbl	37,205		37,205	37,205	37,205	37,205	37,205	37,205	37,205	37,205	37,205	37,205	37,205	37,205	37,205
Weighted Average Fixed Price of non-designated commodity contracts \| $ / bbl	74.92		74.92	74.92	74.92	74.92	74.92	74.92	74.92	74.92	74.92	74.92	74.92	74.92	74.92
Weighted Average Mark-to-Market Amount of non-designated commodity contracts \| $ / bbl	0.68		0.68	0.68	0.68	0.68	0.68	0.68	0.68	0.68	0.68	0.68	0.68	0.68	0.68
Fair value of non-designated commodity contracts	$ 25,276
Derivatives not designated as hedging instruments \| Commodity contract (long) \| 2014 \| BBL
Derivative instruments, at their respective fair value positions
Notional value of commodity contracts \| bbl	445		445	445	445	445	445	445	445	445	445	445	445	445	445
Weighted Average Fixed Price of non-designated commodity contracts \| $ / bbl	98.12		98.12	98.12	98.12	98.12	98.12	98.12	98.12	98.12	98.12	98.12	98.12	98.12	98.12
Weighted Average Mark-to-Market Amount of non-designated commodity contracts \| $ / bbl	2.52		2.52	2.52	2.52	2.52	2.52	2.52	2.52	2.52	2.52	2.52	2.52	2.52	2.52
Fair value of non-designated commodity contracts	$ 1,123
Derivatives not designated as hedging instruments \| Commodity contract (long) \| 2015 \| BBL
Derivative instruments, at their respective fair value positions
Notional value of commodity contracts \| bbl	26		26	26	26	26	26	26	26	26	26	26	26	26	26
Weighted Average Fixed Price of non-designated commodity contracts \| $ / bbl	115.63		115.63	115.63	115.63	115.63	115.63	115.63	115.63	115.63	115.63	115.63	115.63	115.63	115.63
Weighted Average Mark-to-Market Amount of non-designated commodity contracts \| $ / bbl	0.69		0.69	0.69	0.69	0.69	0.69	0.69	0.69	0.69	0.69	0.69	0.69	0.69	0.69
Fair value of non-designated commodity contracts	$ 18
Derivatives not designated as hedging instruments \| Commodity contract (short) \| 2013 \| BBL
Derivative instruments, at their respective fair value positions
Notional value of commodity contracts \| bbl	29,588		29,588	29,588	29,588	29,588	29,588	29,588	29,588	29,588	29,588	29,588	29,588	29,588	29,588
Weighted Average Fixed Price of non-designated commodity contracts \| $ / bbl	87.34		87.34	87.34	87.34	87.34	87.34	87.34	87.34	87.34	87.34	87.34	87.34	87.34	87.34
Weighted Average Mark-to-Market Amount of non-designated commodity contracts \| $ / bbl	(0.48)		(0.48)	(0.48)	(0.48)	(0.48)	(0.48)	(0.48)	(0.48)	(0.48)	(0.48)	(0.48)	(0.48)	(0.48)	(0.48)
Fair value of non-designated commodity contracts	$ (14,305)
Derivatives not designated as hedging instruments \| Commodity contract (short) \| 2014 \| BBL
Derivative instruments, at their respective fair value positions
Notional value of commodity contracts \| bbl	542		542	542	542	542	542	542	542	542	542	542	542	542	542
Weighted Average Fixed Price of non-designated commodity contracts \| $ / bbl	99.74		99.74	99.74	99.74	99.74	99.74	99.74	99.74	99.74	99.74	99.74	99.74	99.74	99.74
Weighted Average Mark-to-Market Amount of non-designated commodity contracts \| $ / bbl	(1.35)		(1.35)	(1.35)	(1.35)	(1.35)	(1.35)	(1.35)	(1.35)	(1.35)	(1.35)	(1.35)	(1.35)	(1.35)	(1.35)
Fair value of non-designated commodity contracts	$ (734)
Derivatives not designated as hedging instruments \| Commodity contract (short) \| 2015 \| BBL
Derivative instruments, at their respective fair value positions
Notional value of commodity contracts \| bbl	26		26	26	26	26	26	26	26	26	26	26	26	26	26
Weighted Average Fixed Price of non-designated commodity contracts \| $ / bbl	117.24		117.24	117.24	117.24	117.24	117.24	117.24	117.24	117.24	117.24	117.24	117.24	117.24	117.24
Weighted Average Mark-to-Market Amount of non-designated commodity contracts \| $ / bbl	(0.69)		(0.69)	(0.69)	(0.69)	(0.69)	(0.69)	(0.69)	(0.69)	(0.69)	(0.69)	(0.69)	(0.69)	(0.69)	(0.69)
Fair value of non-designated commodity contracts	$ (18)
Derivatives not designated as hedging instruments \| Foreign currency contracts (long) \| 2013 \| AUD
Derivative instruments, at their respective fair value positions
Non-Designated, Notional amount of foreign currency contracts					$ 3,080
Weighted Average Fixed Price of non-designated foreign currency contracts \| $ / $	1.04		1.04	1.04	1.04	1.04	1.04	1.04	1.04	1.04	1.04	1.04	1.04	1.04	1.04
Weighted Average Mark-to-Market Amount of non-designated foreign currency contracts \| $ / $	0.00		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Mark-to-Market value of non-designated foreign currency contracts	$ 2
Derivatives not designated as hedging instruments \| Foreign currency contracts (long) \| 2013 \| BRL
Derivative instruments, at their respective fair value positions
Non-Designated, Notional amount of foreign currency contracts \| R$								R$ 1,859
Weighted Average Fixed Price of non-designated foreign currency contracts \| $ / R$	2.11		2.11	2.11	2.11	2.11	2.11	2.11	2.11	2.11	2.11	2.11	2.11	2.11	2.11
Weighted Average Mark-to-Market Amount of non-designated foreign currency contracts \| $ / R$	0.02		0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02
Mark-to-Market value of non-designated foreign currency contracts	$ 32
Derivatives not designated as hedging instruments \| Foreign currency contracts (long) \| 2013 \| CAD
Derivative instruments, at their respective fair value positions
Non-Designated, Notional amount of foreign currency contracts							$ 16,795
Weighted Average Fixed Price of non-designated foreign currency contracts \| $ / $	0.99		0.99	0.99	0.99	0.99	0.99	0.99	0.99	0.99	0.99	0.99	0.99	0.99	0.99
Weighted Average Mark-to-Market Amount of non-designated foreign currency contracts \| $ / $	0.00		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Mark-to-Market value of non-designated foreign currency contracts	$ (67)
Derivatives not designated as hedging instruments \| Foreign currency contracts (long) \| 2013 \| CLP
Derivative instruments, at their respective fair value positions
Non-Designated, Notional amount of foreign currency contracts									$ 1,553,106
Weighted Average Fixed Price of non-designated foreign currency contracts \| $ / $	479.38		479.38	479.38	479.38	479.38	479.38	479.38	479.38	479.38	479.38	479.38	479.38	479.38	479.38
Weighted Average Mark-to-Market Amount of non-designated foreign currency contracts \| $ / $	0.00		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Mark-to-Market value of non-designated foreign currency contracts	$ (10)
Derivatives not designated as hedging instruments \| Foreign currency contracts (long) \| 2013 \| COP
Derivative instruments, at their respective fair value positions
Non-Designated, Notional amount of foreign currency contracts										$ 18,734,591
Weighted Average Fixed Price of non-designated foreign currency contracts \| $ / $	1,803.89		1,803.89	1,803.89	1,803.89	1,803.89	1,803.89	1,803.89	1,803.89	1,803.89	1,803.89	1,803.89	1,803.89	1,803.89	1,803.89
Weighted Average Mark-to-Market Amount of non-designated foreign currency contracts \| $ / $	0.00		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Mark-to-Market value of non-designated foreign currency contracts	$ 147
Derivatives not designated as hedging instruments \| Foreign currency contracts (long) \| 2013 \| EUR
Derivative instruments, at their respective fair value positions
Non-Designated, Notional amount of foreign currency contracts \| €				€ 1,175
Weighted Average Fixed Price of non-designated foreign currency contracts \| $ / €	0.75		0.75	0.75	0.75	0.75	0.75	0.75	0.75	0.75	0.75	0.75	0.75	0.75	0.75
Weighted Average Mark-to-Market Amount of non-designated foreign currency contracts \| $ / €	(0.01)		(0.01)	(0.01)	(0.01)	(0.01)	(0.01)	(0.01)	(0.01)	(0.01)	(0.01)	(0.01)	(0.01)	(0.01)	(0.01)
Mark-to-Market value of non-designated foreign currency contracts	$ (6)
Derivatives not designated as hedging instruments \| Foreign currency contracts (long) \| 2013 \| GBP
Derivative instruments, at their respective fair value positions
Non-Designated, Notional amount of foreign currency contracts \| £			£ 47,725
Weighted Average Fixed Price of non-designated foreign currency contracts \| $ / £	0.63		0.63	0.63	0.63	0.63	0.63	0.63	0.63	0.63	0.63	0.63	0.63	0.63	0.63
Weighted Average Mark-to-Market Amount of non-designated foreign currency contracts \| $ / £	0.03		0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.03
Mark-to-Market value of non-designated foreign currency contracts	$ 1,417
Derivatives not designated as hedging instruments \| Foreign currency contracts (long) \| 2013 \| JPY
Derivative instruments, at their respective fair value positions
Non-Designated, Notional amount of foreign currency contracts \| ¥						¥ 3,538
Weighted Average Fixed Price of non-designated foreign currency contracts \| $ / ¥	80.71		80.71	80.71	80.71	80.71	80.71	80.71	80.71	80.71	80.71	80.71	80.71	80.71	80.71
Weighted Average Mark-to-Market Amount of non-designated foreign currency contracts \| $ / ¥	0.00		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Mark-to-Market value of non-designated foreign currency contracts	$ (4)
Derivatives not designated as hedging instruments \| Foreign currency contracts (long) \| 2013 \| MXN
Derivative instruments, at their respective fair value positions
Non-Designated, Notional amount of foreign currency contracts												$ 381,114
Weighted Average Fixed Price of non-designated foreign currency contracts \| $ / $	12.97		12.97	12.97	12.97	12.97	12.97	12.97	12.97	12.97	12.97	12.97	12.97	12.97	12.97
Weighted Average Mark-to-Market Amount of non-designated foreign currency contracts \| $ / $	0.00		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Mark-to-Market value of non-designated foreign currency contracts	$ (375)
Derivatives not designated as hedging instruments \| Foreign currency contracts (long) \| 2013 \| NOK
Derivative instruments, at their respective fair value positions
Non-Designated, Notional amount of foreign currency contracts \| kr													kr 9,400
Weighted Average Fixed Price of non-designated foreign currency contracts \| $ / kr	5.58		5.58	5.58	5.58	5.58	5.58	5.58	5.58	5.58	5.58	5.58	5.58	5.58	5.58
Weighted Average Mark-to-Market Amount of non-designated foreign currency contracts \| $ / kr	0.00		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Mark-to-Market value of non-designated foreign currency contracts	$ (4)
Derivatives not designated as hedging instruments \| Foreign currency contracts (long) \| 2014 \| GBP
Derivative instruments, at their respective fair value positions
Non-Designated, Notional amount of foreign currency contracts \| £			£ 250
Weighted Average Fixed Price of non-designated foreign currency contracts \| $ / £	0.62		0.62	0.62	0.62	0.62	0.62	0.62	0.62	0.62	0.62	0.62	0.62	0.62	0.62
Weighted Average Mark-to-Market Amount of non-designated foreign currency contracts \| $ / £	0.00		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Mark-to-Market value of non-designated foreign currency contracts	$ 1
Derivatives not designated as hedging instruments \| Foreign currency contracts (short) \| 2013 \| AUD
Derivative instruments, at their respective fair value positions
Non-Designated, Notional amount of foreign currency contracts					$ 11,111
Weighted Average Fixed Price of non-designated foreign currency contracts \| $ / $	1.04		1.04	1.04	1.04	1.04	1.04	1.04	1.04	1.04	1.04	1.04	1.04	1.04	1.04
Weighted Average Mark-to-Market Amount of non-designated foreign currency contracts \| $ / $	0.01		0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01
Mark-to-Market value of non-designated foreign currency contracts	$ 81
Derivatives not designated as hedging instruments \| Foreign currency contracts (short) \| 2013 \| BRL
Derivative instruments, at their respective fair value positions
Non-Designated, Notional amount of foreign currency contracts \| R$								R$ 1,366
Weighted Average Fixed Price of non-designated foreign currency contracts \| $ / R$	2.10		2.10	2.10	2.10	2.10	2.10	2.10	2.10	2.10	2.10	2.10	2.10	2.10	2.10
Weighted Average Mark-to-Market Amount of non-designated foreign currency contracts \| $ / R$	(0.01)		(0.01)	(0.01)	(0.01)	(0.01)	(0.01)	(0.01)	(0.01)	(0.01)	(0.01)	(0.01)	(0.01)	(0.01)	(0.01)
Mark-to-Market value of non-designated foreign currency contracts	$ (13)
Derivatives not designated as hedging instruments \| Foreign currency contracts (short) \| 2013 \| CAD
Derivative instruments, at their respective fair value positions
Non-Designated, Notional amount of foreign currency contracts							$ 12,220
Weighted Average Fixed Price of non-designated foreign currency contracts \| $ / $	0.99		0.99	0.99	0.99	0.99	0.99	0.99	0.99	0.99	0.99	0.99	0.99	0.99	0.99
Weighted Average Mark-to-Market Amount of non-designated foreign currency contracts \| $ / $	0.01		0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01
Mark-to-Market value of non-designated foreign currency contracts	$ 69
Derivatives not designated as hedging instruments \| Foreign currency contracts (short) \| 2013 \| CLP
Derivative instruments, at their respective fair value positions
Non-Designated, Notional amount of foreign currency contracts									$ 892,962
Weighted Average Fixed Price of non-designated foreign currency contracts \| $ / $	483.07		483.07	483.07	483.07	483.07	483.07	483.07	483.07	483.07	483.07	483.07	483.07	483.07	483.07
Weighted Average Mark-to-Market Amount of non-designated foreign currency contracts \| $ / $	0.00		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Mark-to-Market value of non-designated foreign currency contracts	$ 12
Derivatives not designated as hedging instruments \| Foreign currency contracts (short) \| 2013 \| COP
Derivative instruments, at their respective fair value positions
Non-Designated, Notional amount of foreign currency contracts										$ 15,265,622
Weighted Average Fixed Price of non-designated foreign currency contracts \| $ / $	1,803.26		1,803.26	1,803.26	1,803.26	1,803.26	1,803.26	1,803.26	1,803.26	1,803.26	1,803.26	1,803.26	1,803.26	1,803.26	1,803.26
Weighted Average Mark-to-Market Amount of non-designated foreign currency contracts \| $ / $	0.00		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Mark-to-Market value of non-designated foreign currency contracts	$ (96)
Derivatives not designated as hedging instruments \| Foreign currency contracts (short) \| 2013 \| DKK
Derivative instruments, at their respective fair value positions
Non-Designated, Notional amount of foreign currency contracts \| kr											kr 5,053
Weighted Average Fixed Price of non-designated foreign currency contracts \| $ / kr	5.69		5.69	5.69	5.69	5.69	5.69	5.69	5.69	5.69	5.69	5.69	5.69	5.69	5.69
Weighted Average Mark-to-Market Amount of non-designated foreign currency contracts \| $ / kr	0.00		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Mark-to-Market value of non-designated foreign currency contracts	$ (7)
Derivatives not designated as hedging instruments \| Foreign currency contracts (short) \| 2013 \| EUR
Derivative instruments, at their respective fair value positions
Non-Designated, Notional amount of foreign currency contracts \| €				€ 18,434
Weighted Average Fixed Price of non-designated foreign currency contracts \| $ / €	0.76		0.76	0.76	0.76	0.76	0.76	0.76	0.76	0.76	0.76	0.76	0.76	0.76	0.76
Weighted Average Mark-to-Market Amount of non-designated foreign currency contracts \| $ / €	(0.01)		(0.01)	(0.01)	(0.01)	(0.01)	(0.01)	(0.01)	(0.01)	(0.01)	(0.01)	(0.01)	(0.01)	(0.01)	(0.01)
Mark-to-Market value of non-designated foreign currency contracts	$ (175)
Derivatives not designated as hedging instruments \| Foreign currency contracts (short) \| 2013 \| GBP
Derivative instruments, at their respective fair value positions
Non-Designated, Notional amount of foreign currency contracts \| £			£ 79,935
Weighted Average Fixed Price of non-designated foreign currency contracts \| $ / £	0.63		0.63	0.63	0.63	0.63	0.63	0.63	0.63	0.63	0.63	0.63	0.63	0.63	0.63
Weighted Average Mark-to-Market Amount of non-designated foreign currency contracts \| $ / £	(0.03)		(0.03)	(0.03)	(0.03)	(0.03)	(0.03)	(0.03)	(0.03)	(0.03)	(0.03)	(0.03)	(0.03)	(0.03)	(0.03)
Mark-to-Market value of non-designated foreign currency contracts	$ (2,719)
Derivatives not designated as hedging instruments \| Foreign currency contracts (short) \| 2013 \| JPY
Derivative instruments, at their respective fair value positions
Non-Designated, Notional amount of foreign currency contracts \| ¥						¥ 15,768
Weighted Average Fixed Price of non-designated foreign currency contracts \| $ / ¥	77.72		77.72	77.72	77.72	77.72	77.72	77.72	77.72	77.72	77.72	77.72	77.72	77.72	77.72
Weighted Average Mark-to-Market Amount of non-designated foreign currency contracts \| $ / ¥	0.00		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Mark-to-Market value of non-designated foreign currency contracts	$ 21
Derivatives not designated as hedging instruments \| Foreign currency contracts (short) \| 2013 \| MXN
Derivative instruments, at their respective fair value positions
Non-Designated, Notional amount of foreign currency contracts												$ 247,549
Weighted Average Fixed Price of non-designated foreign currency contracts \| $ / $	12.96		12.96	12.96	12.96	12.96	12.96	12.96	12.96	12.96	12.96	12.96	12.96	12.96	12.96
Weighted Average Mark-to-Market Amount of non-designated foreign currency contracts \| $ / $	0.00		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Mark-to-Market value of non-designated foreign currency contracts	$ 307
Derivatives not designated as hedging instruments \| Foreign currency contracts (short) \| 2013 \| NOK
Derivative instruments, at their respective fair value positions
Non-Designated, Notional amount of foreign currency contracts \| kr													kr 7,123
Weighted Average Fixed Price of non-designated foreign currency contracts \| $ / kr	5.64		5.64	5.64	5.64	5.64	5.64	5.64	5.64	5.64	5.64	5.64	5.64	5.64	5.64
Weighted Average Mark-to-Market Amount of non-designated foreign currency contracts \| $ / kr	0.00		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Mark-to-Market value of non-designated foreign currency contracts	$ (13)
Derivatives not designated as hedging instruments \| Foreign currency contracts (short) \| 2013 \| PLN
Derivative instruments, at their respective fair value positions
Non-Designated, Notional amount of foreign currency contracts \| zł														zł 4,459
Weighted Average Fixed Price of non-designated foreign currency contracts \| $ / zł	3.17		3.17	3.17	3.17	3.17	3.17	3.17	3.17	3.17	3.17	3.17	3.17	3.17	3.17
Weighted Average Mark-to-Market Amount of non-designated foreign currency contracts \| $ / zł	(0.01)		(0.01)	(0.01)	(0.01)	(0.01)	(0.01)	(0.01)	(0.01)	(0.01)	(0.01)	(0.01)	(0.01)	(0.01)	(0.01)
Mark-to-Market value of non-designated foreign currency contracts	$ (23)
Derivatives not designated as hedging instruments \| Foreign currency contracts (short) \| 2013 \| RON
Derivative instruments, at their respective fair value positions
Non-Designated, Notional amount of foreign currency contracts \|															6,873
Weighted Average Fixed Price of non-designated foreign currency contracts \| $ /	3.48		3.48	3.48	3.48	3.48	3.48	3.48	3.48	3.48	3.48	3.48	3.48	3.48	3.48
Weighted Average Mark-to-Market Amount of non-designated foreign currency contracts \| $ /	(0.01)		(0.01)	(0.01)	(0.01)	(0.01)	(0.01)	(0.01)	(0.01)	(0.01)	(0.01)	(0.01)	(0.01)	(0.01)	(0.01)
Mark-to-Market value of non-designated foreign currency contracts	$ (37)
Derivatives not designated as hedging instruments \| Foreign currency contracts (short) \| 2014 \| GBP
Derivative instruments, at their respective fair value positions
Non-Designated, Notional amount of foreign currency contracts \| £			£ 3,090
Weighted Average Fixed Price of non-designated foreign currency contracts \| $ / £	0.63		0.63	0.63	0.63	0.63	0.63	0.63	0.63	0.63	0.63	0.63	0.63	0.63	0.63
Weighted Average Mark-to-Market Amount of non-designated foreign currency contracts \| $ / £	(0.03)		(0.03)	(0.03)	(0.03)	(0.03)	(0.03)	(0.03)	(0.03)	(0.03)	(0.03)	(0.03)	(0.03)	(0.03)	(0.03)
Mark-to-Market value of non-designated foreign currency contracts	$ (99)

Derivatives (Details 2) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Derivative assets	$ 78,203	$ 68,065
Derivative liabilities	69,547	57,920
Derivatives designated as hedging instruments
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Derivative assets	1,139	550
Derivative liabilities	2,284	1,540
Derivatives designated as hedging instruments \| Commodity contracts \| Other current assets
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Derivative assets	991	528
Derivative liabilities	2,284	1,519
Derivatives designated as hedging instruments \| Commodity contracts \| Accrued expenses and other current liabilities
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Derivative assets		22
Derivative liabilities		21
Derivatives designated as hedging instruments \| Foreign currency contracts \| Other current assets
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Derivative assets	148
Derivatives not designated as hedging instruments
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Derivative assets	77,064	67,515
Derivative liabilities	67,263	56,380
Derivatives not designated as hedging instruments \| Commodity contracts \| Other current assets
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Derivative assets	67,533	59,185
Derivative liabilities	41,410	37,713
Derivatives not designated as hedging instruments \| Commodity contracts \| Non-current other assets
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Derivative assets	1,423	2,065
Derivative liabilities	47	2
Derivatives not designated as hedging instruments \| Commodity contracts \| Accrued expenses and other current liabilities
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Derivative assets	5,776	3,231
Derivative liabilities	20,927	16,434
Derivatives not designated as hedging instruments \| Commodity contracts \| Other long-term liabilities
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Derivative assets	46	40
Derivative liabilities	1,034	1,213
Derivatives not designated as hedging instruments \| Foreign currency contracts \| Other current assets
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Derivative assets	741	1,912
Derivative liabilities	595	413
Derivatives not designated as hedging instruments \| Foreign currency contracts \| Non-current other assets
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Derivative assets		1,082
Derivative liabilities		481
Derivatives not designated as hedging instruments \| Foreign currency contracts \| Accrued expenses and other current liabilities
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Derivative assets	1,545
Derivative liabilities	3,151	$ 124
Derivatives not designated as hedging instruments \| Foreign currency contracts \| Other long-term liabilities
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Derivative liabilities	$ 99

Derivatives (Details 3) - USD ($) $ in Thousands	12 Months Ended
Derivatives (Details 3) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Derivatives instruments designated as hedging instruments \| Fair value hedges
Gain (loss) on derivative
Realized and Unrealized Gain (Loss) on Hedge	$ (20,869)	$ (21,357)	$ (3,262)
Derivatives instruments designated as hedging instruments \| Fair value hedges \| Hedged items
Gain (loss) on derivative
Realized and Unrealized Gain (Loss) on Hedged Item	24,510	33,175	13,128
Derivatives instruments designated as hedging instruments \| Fair value hedges \| Revenue \| Hedged item commitments
Gain (loss) on derivative
Realized and Unrealized Gain (Loss) on Hedged Item	(201)	(12,973)	(7,494)
Derivatives instruments designated as hedging instruments \| Fair value hedges \| Cost of revenue \| Hedged item commitments
Gain (loss) on derivative
Realized and Unrealized Gain (Loss) on Hedged Item	739	7,771	(797)
Derivatives instruments designated as hedging instruments \| Fair value hedges \| Cost of revenue \| Hedged item inventories
Gain (loss) on derivative
Realized and Unrealized Gain (Loss) on Hedged Item	23,972	38,377	21,419
Derivatives instruments designated as hedging instruments \| Cash flow hedges
Gain (loss) on derivative
Amount of Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Effective Portion)	196		1,718
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Effective Portion)	48		1,026
Realized net gain (loss) being reclassified from accumulated other comprehensive income to cost of revenue due to ineffective derivative instrument			700
Derivatives instruments not designated as hedging instruments
Gain (loss) on derivative
Realized and Unrealized Gain (Loss)	13,645	18,687	5,920
Commodity contracts \| Derivatives instruments designated as hedging instruments \| Fair value hedges \| Revenue
Gain (loss) on derivative
Realized and Unrealized Gain (Loss) on Hedge	265	11,608	10,040
Commodity contracts \| Derivatives instruments designated as hedging instruments \| Fair value hedges \| Cost of revenue
Gain (loss) on derivative
Realized and Unrealized Gain (Loss) on Hedge	(1,417)	(6,926)	(739)
Commodity contracts \| Derivatives instruments not designated as hedging instruments \| Revenue
Gain (loss) on derivative
Realized and Unrealized Gain (Loss)	14,967	14,283	4,385
Commodity contracts \| Derivatives instruments not designated as hedging instruments \| Cost of revenue
Gain (loss) on derivative
Realized and Unrealized Gain (Loss)	3,333	3,137	(1,001)
Foreign currency contracts \| Derivatives instruments designated as hedging instruments \| Cash flow hedges
Gain (loss) on derivative
Amount of Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Effective Portion)			1,799
Foreign currency contracts \| Derivatives instruments designated as hedging instruments \| Cash flow hedges \| Revenue
Gain (loss) on derivative
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Effective Portion)			1,107
Foreign currency contracts \| Derivatives instruments not designated as hedging instruments \| Revenue
Gain (loss) on derivative
Realized and Unrealized Gain (Loss)	(2,384)	1,653
Foreign currency contracts \| Derivatives instruments not designated as hedging instruments \| Other income (expense), net
Gain (loss) on derivative
Realized and Unrealized Gain (Loss)	(2,271)	(386)	2,536
Commodity contracts. \| Derivatives instruments designated as hedging instruments \| Fair value hedges \| Cost of revenue
Gain (loss) on derivative
Realized and Unrealized Gain (Loss) on Hedge	(19,717)	$ (26,039)	(12,563)
Foreign exchange contracts... \| Derivatives instruments designated as hedging instruments \| Cash flow hedges
Gain (loss) on derivative
Amount of Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Effective Portion)	196		(81)
Foreign exchange contracts... \| Derivatives instruments designated as hedging instruments \| Cash flow hedges \| Other income (expense), net
Gain (loss) on derivative
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Effective Portion)	$ 48		$ (81)

Property and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Amount of property and equipment
Property and Equipment gross	$ 180,504	$ 141,931
Accumulated depreciation and amortization	67,979	51,221
Property and Equipment net	112,525	90,710
Depreciation expense	18,600	15,500	$ 9,300
Land
Amount of property and equipment
Property and Equipment gross	4,653	5,008
Buildings and Leasehold improvements
Amount of property and equipment
Property and Equipment gross	$ 21,081	14,640
Buildings and Leasehold improvements \| Minimum
Amount of property and equipment
Estimated Useful Lives	3 years
Buildings and Leasehold improvements \| Maximum
Amount of property and equipment
Estimated Useful Lives	15 years
Office equipment, furniture and fixtures
Amount of property and equipment
Property and Equipment gross	$ 8,415	6,467
Office equipment, furniture and fixtures \| Minimum
Amount of property and equipment
Estimated Useful Lives	3 years
Office equipment, furniture and fixtures \| Maximum
Amount of property and equipment
Estimated Useful Lives	7 years
Computer equipment and software costs
Amount of property and equipment
Property and Equipment gross	$ 80,233	67,498
Computer software costs
Amortization expense related to computer software costs	$ 7,200	6,100	$ 4,200
Computer equipment and software costs \| Minimum
Amount of property and equipment
Estimated Useful Lives	3 years
Computer equipment and software costs \| Maximum
Amount of property and equipment
Estimated Useful Lives	9 years
Machinery, equipment and vehicles
Amount of property and equipment
Property and Equipment gross	$ 66,122	48,318
Machinery, equipment and vehicles \| Minimum
Amount of property and equipment
Estimated Useful Lives	3 years
Machinery, equipment and vehicles \| Maximum
Amount of property and equipment
Estimated Useful Lives	30 years
Computer software costs
Computer software costs
Computer software costs	$ 60,465	50,592
Accumulated amortization	27,710	20,481
Computer software costs, net	32,755	30,111
Software development in progress
Computer software costs
Computer software costs	3,000	7,700
Capital leases
Amount of property and equipment
Property and Equipment gross	4,489	4,236
Accumulated depreciation and amortization	816	713
Property and Equipment net	$ 3,673	$ 3,523

Goodwill and Identifiable Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011
Goodwill
Balance at the beginning of the period	$ 346,246	$ 287,434
Acquisition of business	123,193	44,526
Adjustment of purchase price allocations	1,757	15,192
Foreign currency translation of non-USD functional currency subsidiary goodwill	(690)	(906)
Balance at the end of the period	470,506	346,246
Aviation segment
Goodwill
Balance at the beginning of the period	102,509	61,608
Acquisition of business	8,028	38,506
Adjustment of purchase price allocations	(1,106)	2,395
Foreign currency translation of non-USD functional currency subsidiary goodwill	(99)
Balance at the end of the period	109,332	102,509
Goodwill segment reallocation	(2,900)
Marine segment
Goodwill
Balance at the beginning of the period	70,522	71,220
Acquisition of business		1,963
Adjustment of purchase price allocations		(1,755)
Foreign currency translation of non-USD functional currency subsidiary goodwill	(591)	(906)
Balance at the end of the period	69,931	70,522
Land segment
Goodwill
Balance at the beginning of the period	173,215	154,606
Acquisition of business	115,165	4,057
Adjustment of purchase price allocations	2,863	14,552
Balance at the end of the period	291,243	$ 173,215
Goodwill segment reallocation	$ 2,900

- Definition

Carrying amount as of the balance sheet date, which is the cumulative amount paid and (if applicable) the fair value of any noncontrolling interest in the acquiree, adjusted for any amortization recognized prior to the adoption of any changes in generally accepted accounting principles (as applicable) and for any impairment charges, in excess of the fair value of net assets acquired in one or more business combination transactions.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=14024403&loc=d3e13816-109267

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6388280&loc=d3e13770-109266

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 142
-Paragraph 45
-Subparagraph e
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 142
-Paragraph 43
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph 72
-Subparagraph d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 142
-Paragraph 45
-Subparagraph e
-Clause 1
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph 68
-Subparagraph l
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph 34
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Goodwill and Identifiable Intangible Assets (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Identifiable Intangible Assets
Gross Carrying Amount	$ 226,502	$ 155,142
Accumulated Amortization	73,236	55,109
Net	153,266	100,033
Total intangible assets, Gross carrying value	245,509	162,729
Total intangible assets, Net carrying value	172,273	107,620
Intangible amortization expense	18,100	25,000	$ 9,800
Future estimated amortization of identifiable intangible assets
2013	22,170
2014	20,128
2015	17,559
2016	14,718
2017	12,749
Thereafter	65,942
Net	153,266	100,033
Trademark/trade name rights
Identifiable Intangible Assets
Indefinite lived Intangible Assets	19,007	7,587
Customer relationships
Identifiable Intangible Assets
Gross Carrying Amount	173,376	121,102
Accumulated Amortization	61,562	47,009
Net	111,814	74,093
Future estimated amortization of identifiable intangible assets
Net	111,814	74,093
Supplier agreements
Identifiable Intangible Assets
Gross Carrying Amount	33,248	24,788
Accumulated Amortization	5,531	3,562
Net	27,717	21,226
Future estimated amortization of identifiable intangible assets
Net	27,717	21,226
Other identifiable intangible assets
Identifiable Intangible Assets
Gross Carrying Amount	19,878	9,252
Accumulated Amortization	6,143	4,538
Net	13,735	4,714
Future estimated amortization of identifiable intangible assets
Net	$ 13,735	$ 4,714

Debt (Details) - USD ($) $ in Millions	12 Months Ended
Debt (Details) - USD ($) $ in Millions	Dec. 31, 2012	Dec. 31, 2011
Base rate
Debt
Reference rate for variable rate of interest	Base rate
Basis points added to reference rate (as a percent)	1.00%
Eurodollar rate
Debt
Reference rate for variable rate of interest	Eurodollar
Basis points added to reference rate (as a percent)	2.00%
Credit facility
Debt
Maximum borrowing capacity	$ 800.0
Maximum additional borrowings available at the entity's request subject satisfaction of certain conditions	$ 150.0
Commitment fee on the unused portion of the credit facility (as a percent)	0.25%
Amount outstanding	$ 100.5
Letters of credit and bankers' acceptances
Debt
Maximum borrowing capacity	$ 300.0
Letters of credit fees (as a percent)	2.25%
Letters of credit, outstanding amount	$ 47.4	$ 45.3
Term Loans
Debt
Maximum borrowing capacity	247.5	250.0
Other uncommitted credit lines
Debt
Maximum borrowing capacity	219.5
Letters of credit, outstanding amount	$ 184.2	$ 122.3

Debt (Details 2) - USD ($) $ in Thousands	12 Months Ended
Debt (Details 2) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Debt
Total	$ 380,318	$ 287,148
Current maturities of long-term debt	26,065	17,800
Long-term debt	$ 354,253	$ 269,348
Weighted average interest rate (as a percent)	2.40%	2.50%
Aggregate annual maturities of debt
2013	$ 26,065
2014	24,848
2015	18,202
2016	311,203
Interest income, expense and other financing costs
Interest income	908	$ 788	$ 714
Interest expense and other financing costs	(20,005)	(16,613)	(5,459)
Interest expense and other financing costs, net	(19,097)	(15,825)	$ (4,745)
Credit Facility and Term Loans
Debt
Total	348,000	250,000
Acquisition promissory notes
Debt
Total	$ 25,878	30,554
Interest rate, minimum (as a percent)	1.40%
Interest rate, maximum (as a percent)	6.00%
Loans payable to noncontrolling shareholders of a consolidated subsidiary
Debt
Total	$ 6,440	$ 6,594
Interest rate, minimum (as a percent)	2.30%
Interest rate, maximum (as a percent)	6.30%

Shareholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions	1 Months Ended	12 Months Ended
	Sep. 30, 2010	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Dividends
Cash dividends declared per share of common stock (in dollars per share)		$ 0.15	$ 0.15	$ 0.15
Dividend restriction, base amount		$ 50,000
Dividend restriction, percentage of the consolidated net income calculated quarterly for the previous four fiscal quarters		50.00%
Dividend restriction, percentage of the net proceeds of all equity issuances made after the closing date of the Credit Facility and Term Loan Facility		100.00%
Issuance of Common Stock
Public offering of common stock (in shares)	9.2
Issue price of common stock (in dollars per share)	$ 25.00
Net proceeds from public offering of common stock	$ 218,800			$ 218,816
Commissions paid to underwriters	10,400
Expenses incurred in connection with the offering	$ 800
Stock Repurchase Programs
Amount available to repurchase shares under stock repurchase program		$ 50,000

Shareholders' Equity (Details 2) - USD ($) $ in Millions	12 Months Ended
Shareholders' Equity (Details 2) - USD ($) $ in Millions	Dec. 31, 2012	Dec. 31, 2011
Restricted Stock Awards
Information pertaining to stock based awards
Remaining shares of common stock available for future issuance	1,100,000
RSUs
Information pertaining to stock based awards
Remaining shares of common stock available for future issuance	981,000
SSAR Awards
Information pertaining to stock based awards
Expiration period	7 years
Remaining shares of common stock available for future issuance	422,000
Stock Deferral Plan \| Non-employee director
Information pertaining to stock based awards
Number of shares equivalent to each stock unit	1
Fair market value of number of shares of common stock used in the calculation of stock units to be credited to each participant as of each cash dividend payment date (in shares)	1
Stock units outstanding (in shares)	25,000	25,000
Aggregate carrying value of the outstanding stock units	$ 0.3	$ 0.3
2006 Plan
Information pertaining to stock based awards
Common stock authorized for issuance (in shares)	4,900,000
Remaining shares of common stock available for future issuance	3,824,000

Shareholders' Equity (Details 3) - Unvested Restricted Stock - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Unvested Restricted Stock Outstanding
Balance at the beginning of the period (in shares)	446	386	419
Granted (in shares)	798	353
Vested (in shares)	(128)	(284)	(26)
Forfeited (in shares)	(16)	(9)	(7)
Balance at the end of the period (in shares)	1,100	446	386	419
Additional Disclosure
Balance at the beginning of the period (in dollars per share)	$ 34.07	$ 20.84	$ 20.88
Granted (in dollars per share)	40.19	37.40
Vested (in dollars per share)	26.26	20.49	21.30
Forfeited (in dollars per share)	37.24	26.45	20.95
Balance at the end of the period (in dollars per share)	$ 39.38	$ 34.07	$ 20.84	$ 20.88
Aggregate Intrinsic Value	$ 45,295	$ 18,707	$ 13,991	$ 11,245
Weighted Average Remaining Vesting Term	3 years 4 months 24 days	2 years 2 months 12 days	7 months 6 days	1 year 8 months 12 days
Aggregate value of awards vested	$ 5,300	$ 10,600	$ 700

Shareholders' Equity (Details 4) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
RSUs
Awards Outstanding
Balance at the beginning of the period (in shares)	901	1,218	901
Granted (in shares)	369	224	343
Issued (in shares)	(275)	(515)	(11)
Forfeited (in shares)	(14)	(26)	(15)
Balance at the end of the period (in shares)	981	901	1,218	901
Balance at the beginning of the period (in dollars per share)	$ 25.59	$ 18.34	$ 14.52
Granted (in dollars per share)	40.98	38.01	28.32
Issued (in dollars per share)	(16.12)	(14.03)	(14.03)
Forfeited (in dollars per share)	(30.74)	(16.19)	(19.91)
Balance at the end of the period (in dollars per share)	$ 34.06	$ 25.59	$ 18.34	$ 14.52
Aggregate Intrinsic Value	$ 39,888	$ 37,373	$ 44,038	$ 24,131
Weighted Average Remaining Vesting Term	1 year 6 months	1 year 8 months 12 days	2 years 7 months 6 days	2 years 6 months
Aggregate intrinsic value of awards issued	$ 11,600	$ 19,500	$ 300
SSAR Awards
Awards Outstanding
Balance at the beginning of the period (in shares)	517	1,012	2,061
Granted (in shares)			36
Exercised (in shares)	(95)	(486)	(1,085)
Forfeited (in shares)		(9)
Balance at the end of the period (in shares)	422	517	1,012	2,061
Balance at the beginning of the period (in dollars per share)	$ 15.06	$ 16.10	$ 16.70
Granted (in dollars per share)			24.89
Exercised (in dollars per share)	(16.76)	(16.56)	(17.52)
Forfeited (in dollars per share)		(12.39)
Balance at the end of the period (in dollars per share)	$ 15.30	$ 15.06	$ 16.10	$ 16.70
Aggregate Intrinsic Value	$ 10,927	$ 13,921	$ 20,346	$ 20,914
Weighted Average Remaining Vesting Term	7 months 6 days	1 year 4 months 24 days	1 year 10 months 24 days	2 years 1 month 6 days
SSAR Awards Exercisable
SSAR Awards (in shares)	322	410	480	1,419
Weighted Average Exercise Price (in dollars per share)	$ 16.02	$ 15.39	$ 18.29	$ 17.62
Aggregate Intrinsic Value	$ 8,108	$ 10,895	$ 8,619	$ 13,109
Weighted Average Remaining Contractual Life	8 months 12 days	1 year 4 months 24 days	1 year 3 months 18 days	1 year 7 months 6 days
Aggregate intrinsic value of SSAR Awards exercised	$ 2,100	$ 10,200	$ 13,200
Assumptions used to determine weighted average fair value
Weighted average fair value of SSAR Awards (in dollars per share)			$ 10.97
Expected term			4 years
Volatility (as a percent)			58.00%
Dividend yields (as a percent)			0.50%
Risk-free interest rates (as a percent)			1.70%

Shareholders' Equity (Details 5) - USD ($) $ in Thousands	12 Months Ended
Shareholders' Equity (Details 5) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Shareholders' Equity
Period for recognition of unrecognized compensation cost related to unvested share-based payment awards	1 year 6 months
Unrecognized compensation cost expected to be recognized as compensation expense
2013	$ 13,791
2014	10,706
2015	5,392
2016	2,680
2017	640
Total	33,209
Other Comprehensive Loss and Accumulated Other Comprehensive Loss
Accumulated other comprehensive loss	(16,018)	$ (6,524)	$ 4,800
Foreign currency translation adjustment	(9,606)	$ (11,277)	$ 958
Amount of Gain (Loss) Recognized in Other Comprehensive Income	$ 100

Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
US and foreign income (loss) before income taxes
United States	$ 49,021	$ 56,836	$ (2,886)
Foreign	190,574	181,367	180,416
Income before income taxes	239,595	238,203	177,530
Current:
U.S. federal statutory tax	6,858	7,685	12,245
State	938	2,767	1,358
Foreign	24,649	27,514	22,367
Total current income tax provision (benefit)	32,445	37,966	35,970
Deferred:
U.S. federal statutory tax	7,642	6,218	(3,776)
State	1,380	2,194	(1,926)
Foreign	643	(6,771)	(1,677)
Total deferred income (loss) before income taxes	9,665	1,641	(7,379)
Non-current tax (income) expense	(3,866)	(606)	2,436
Income tax provision	$ 38,244	$ 39,001	$ 31,027
Reconciliation of U.S. federal statutory income tax rate to effective income tax rate
U.S. federal statutory tax rate (as a percent)	35.00%	35.00%	35.00%
Foreign earnings, net of foreign taxes (as a percent)	(16.70%)	(18.70%)	(18.60%)
State income taxes, net of U.S. federal income tax benefit (as a percent)	0.60%	1.30%	0.10%
Other permanent differences (as a percent)	(2.90%)	(1.20%)	1.00%
Effective income tax rate (as a percent)	16.00%	16.40%	17.50%
Earnings attributable to foreign subsidiaries	$ 934,500	$ 794,000

Income Taxes (Details 2) - USD ($)	12 Months Ended
Income Taxes (Details 2) - USD ($)	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Gross Deferred Income Tax Assets:
Excess of provision for bad debts over charge-offs	$ 4,573,000	$ 4,744,000
Net operating loss	675,000	66,000
Accrued compensation expenses recognized for financial reporting purposes, not currently deductible for tax purposes	14,909,000	20,099,000
Accrued expenses	2,069,000	1,680,000
Unrealized derivative losses	316,000
Customer deposits	7,545,000	6,154,000
Unrealized foreign exchange	914,000	906,000
Total gross deferred income tax assets	31,001,000	33,649,000
Deferred income tax assets, net of valuation allowance	31,001,000	33,649,000
Gross Deferred Income Tax Liabilities:
Excess of tax over financial reporting for depreciation of fixed assets	(11,999,000)	(4,650,000)
Excess of tax over financial reporting amortization of identifiable intangible assets and goodwill	(23,108,000)	(15,772,000)
Prepaid expenses deductible for tax purposes	(1,719,000)	(1,204,000)
Unrealized derivative gains		(5,572,000)
Other	(1,330,000)	(834,000)
Gross deferred income tax liabilities	(38,156,000)	(28,032,000)
Net deferred income tax (liabilities) assets	(7,155,000)	5,617,000
Report on the consolidated balance sheets as:
Other current assets for deferred income tax assets, current	15,282,000	13,238,000
Non-current other assets for deferred income tax assets, non-current	5,406,000	2,661,000
Accrued expenses and other current liabilities for deferred income tax liabilities, current	6,084,000	1,009,000
Non-current inocme tax liabilities, net for deferred income tax liabilities, non-current	21,759,000	9,273,000
Foreign net operating losses	2,800,000	200,000
Annual capital in excess of par value pool of windfall income tax benefits related to employee compensation	3,700,000	6,000,000	$ 10,400,000
Decrease in foreign income taxes due to special income tax concession in Singapore	$ 5,500,000	$ 8,400,000	$ 7,800,000
Impact of income tax concession on diluted earnings per common share (in dollars per share)	$ 0.08	$ 0.12	$ 0.12
Period applicable for new income tax concession	5 years

Income Taxes (Details 3) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details 3) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Income Taxes
Decrease in additional liabilities related to unrecognized income tax benefits	$ (5,600)	$ (900)
Decrease in assets related to unrecognized income tax benefits	(1,700)	(300)
Decrease in Unrecognized Tax Liabilities related to a foreign currency translation expense	(100)	(200)
Unrecognized Tax Liabilities	33,000	38,400
Unrecognized Tax Assets	5,100	6,900
Reconciliation of total amounts of unrecognized income tax benefits
Unrecognized tax benefit - opening balance	25,574	26,293	$ 27,158
Gross decreases - tax positions in prior period	(7,659)
Gross increases - tax positions in current period	5,730	5,890	4,095
Gross decreases - tax positions in current period		(64)	(1,629)
Settlements		(62)
Lapse of statute of limitations	(1,251)	(6,483)	(3,331)
Unrecognized tax benefit - ending balance	22,394	25,574	26,293
Expected reduction in income tax expense if uncertain tax positions are settled by the taxing authorities in the entity's favor	$ 18,000
Expected reduction in effective income tax rate if uncertain tax positions are settled by the taxing authorities in the entity's favor (as a percent)	7.50%
Interest and penalties expense
Interest related to unrecognized tax benefits, recorded as (income) expense	$ (700)	(600)	1,400
Penalties related to unrecognized tax benefits, recorded as income tax (income) expense	(1,500)	200	$ 1,200
Accrued interest and penalties
Accrued interest related to unrecognized tax benefits	5,500	6,200
Accrued penalties related to unrecognized tax benefits	$ 5,100	$ 6,600

Commitments and Contingencies (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Surety Bonds
Outstanding bonds	$ 34,300	$ 31,400
Future minimum lease payments under non-cancelable operating leases
2013	47,938
2014	26,694
2015	21,395
2016	16,009
2017	10,880
Thereafter	31,525
Total future minimum lease payment	154,441
Rental expenses for properties and equipment	27,300	$ 21,800	$ 10,000
Sales and Purchase Commitments
Sales commitments under derivative programs	440,700
Purchase commitments under derivative programs	$ 55,500
Sales and purchase commitments period	14 days

Commitments and Contingencies (Details 2) - USD ($)	12 Months Ended
Commitments and Contingencies (Details 2) - USD ($)	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Named Executive Officer Annual Incentive Awards
Cash and share-based awards earned by entity's NEOs
Cash awards earned		$ 9,275,000	$ 7,306,000
Share-based awards earned		9,604,000	5,913,000
Total earned		18,879,000	13,219,000
Compensation expense recorded		$ 11,535,000	$ 8,651,000
Named Executive Officer Annual Incentive Awards \| 2006 Plan \| Minimum
Future minimum commitments under agreements with executive officers and key employees
Vesting period	3 years
Named Executive Officer Annual Incentive Awards \| 2006 Plan \| Maximum
Future minimum commitments under agreements with executive officers and key employees
Vesting period	5 years
Agreements with Executive Officers and Key Employees
Loss Contingencies
Severance payment for termination following a change of control	$ 5,000,000
Severance payment for termination following other scenarios	$ 3,000,000
Period for severance payment after termination of executive's employment	2 years
Future minimum commitments under agreements with executive officers and key employees
2013	$ 3,463,000
2014	2,265,000
2015	1,825,000
2016	1,825,000
Total	9,378,000
Kasbar agreement
Loss Contingencies
Annual base salary	$ 575,000
Term of extension in expiration period under specified condition	1 year
Minimum period prior to expiration of the term for serving specified notice to prevent extension of agreement term	1 year
Vesting period of any awards assumed or substituted	2 years
Stebbins agreement
Loss Contingencies
Annual base salary	$ 750,000
Term for expiration of agreement	2 years
Term of extension in expiration period under specified condition	1 year
Minimum period prior to expiration of the term for serving specified notice to prevent extension of agreement term	6 months
Stebbins agreement \| RSUs
Loss Contingencies
Equity-based awards grant-date value targeted	$ 500,000
Stebbins agreement \| Service-based RSUs
Loss Contingencies
Percentage of equity-based awards to be granted	50.00%
Stebbins agreement \| Performance-based RSUs
Loss Contingencies
Percentage of equity-based awards to be granted	50.00%

Commitments and Contingencies (Details 3) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Deferred Compensation Plans
Liabilities under long-term service programs	$ 2.4	$ 1.5
U.S. defined contribution plan
401(k) defined contribution plan
Employee contribution limit per calendar year (as a percent of compensation)	60.00%
Employer match for each 1% of the participants contributions up to 6% of the participants contributions (as a percent)	50.00%	50.00%	50.00%
Percentage of eligible compensation up to 6% of the eligible compensation, matched 50% by employer	1.00%	1.00%	1.00%
Employer contribution limit per calendar year (as a percent of compensation)	6.00%	6.00%	6.00%
Expenses recognized for contributions	$ 1.6	$ 1.5	$ 1.2
Foreign defined contribution plans
401(k) defined contribution plan
Expenses recognized for contributions	$ 2.6	$ 2.0	$ 1.2

Commitments and Contingencies (Details 4) $ in Millions	1 Months Ended
Commitments and Contingencies (Details 4) $ in Millions	Apr. 30, 2012 USD ($) Item	Dec. 31, 2012 Item
Minimum
Legal Matters
Number of claims, complaints or proceedings		1
Property damages and bodily injuries \| WFSS Vs Cathay Pacific Airways Limited
Legal Matters
Number of subsidiaries named as defendants	1
Damages sought \| $	$ 34.0

- Definition

The value (monetary amount) of the award the plaintiff seeks in the legal matter.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 9
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6952336&loc=d3e14557-108349

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6952336&loc=d3e14326-108349

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6952336&loc=d3e14435-108349

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
-Paragraph 10
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
-Paragraph 11
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
-Paragraph 12
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
-Paragraph 9
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Fair Value Measurements (Details) - Fair value measured on recurring basis - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Level 1
Assets:
Assets	$ 18,087	$ 14,038
Liabilities:
Liabilities	20,970	10,148
Level 1 \| Commodity contracts
Assets:
Assets	18,087	14,038
Liabilities:
Liabilities	20,970	10,148
Level 2
Assets:
Assets	60,934	57,449
Liabilities:
Liabilities	49,102	47,796
Level 2 \| Commodity contracts
Assets:
Assets	57,682	51,033
Liabilities:
Liabilities	44,732	46,754
Level 2 \| Foreign currency contracts
Assets:
Assets	2,434	2,994
Liabilities:
Liabilities	3,845	1,018
Level 2 \| Hedged item inventories
Assets:
Assets	818	3,216
Liabilities:
Liabilities	525
Level 2 \| Hedged item commitments
Assets:
Assets		206
Liabilities:
Liabilities		24
Level 3
Liabilities:
Liabilities		4,194
Debt	380,300	287,100
Notes receivable	12,700	6,800
Cash collateral deposits held by financial counterparties	22,900	11,800
Amount recognized for the obligation to return cash collateral	6,600
Level 3 \| Earn-out
Liabilities:
Liabilities		4,194
Sub-Total
Assets:
Assets	79,021	71,487
Liabilities:
Liabilities	70,072	62,138
Sub-Total \| Commodity contracts
Assets:
Assets	75,769	65,071
Liabilities:
Liabilities	65,702	56,902
Sub-Total \| Foreign currency contracts
Assets:
Assets	2,434	2,994
Liabilities:
Liabilities	3,845	1,018
Sub-Total \| Hedged item inventories
Assets:
Assets	818	3,216
Liabilities:
Liabilities	525
Sub-Total \| Hedged item commitments
Assets:
Assets		206
Liabilities:
Liabilities		24
Netting and Collateral
Assets:
Assets	(58,404)	(44,168)
Liabilities:
Liabilities	(51,851)	(44,184)
Netting and Collateral \| Commodity contracts
Assets:
Assets	(56,115)	(43,275)
Liabilities:
Liabilities	(49,562)	(43,291)
Netting and Collateral \| Foreign currency contracts
Assets:
Assets	(2,289)	(893)
Liabilities:
Liabilities	(2,289)	(893)
Total
Assets:
Assets	20,617	27,319
Liabilities:
Liabilities	18,221	17,954
Total \| Commodity contracts
Assets:
Assets	19,654	21,796
Liabilities:
Liabilities	16,140	13,611
Total \| Foreign currency contracts
Assets:
Assets	145	2,101
Liabilities:
Liabilities	1,556	125
Total \| Hedged item inventories
Assets:
Assets	818	3,216
Liabilities:
Liabilities	$ 525
Total \| Hedged item commitments
Assets:
Assets		206
Liabilities:
Liabilities		24
Total \| Earn-out
Liabilities:
Liabilities		$ 4,194

Fair Value Measurements (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011
Commodity contracts \| Revenue
Change in fair value of assets and liabilities measured on recurring basis, utilized Level 3 inputs
Beginning of Period		$ 90
Total Gains (Losses) Included in Earnings	$ 1,271
Settlements	1,271	90
Earn-out \| Other income (expense), net
Change in fair value of assets and liabilities measured on recurring basis, utilized Level 3 inputs
Beginning of Period	4,194	5,012
Total Gains (Losses) Included in Earnings	(110)	818
Settlements	$ 4,304
End of Period		4,194
Change in Unrealized Gains Relating to Assets and Liabilities that are Held at end of Period		$ 818

Business Segments, Geographic Information, and Major Customers (Details) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2012 USD ($)	Sep. 30, 2012 USD ($)	Jun. 30, 2012 USD ($)	Mar. 31, 2012 USD ($)	Dec. 31, 2011 USD ($)	Sep. 30, 2011 USD ($)	Jun. 30, 2011 USD ($)	Mar. 31, 2011 USD ($)	Dec. 31, 2012 USD ($) Item	Dec. 31, 2011 USD ($)	Dec. 31, 2010 USD ($)
Business Segments, Geographic Information, and Major Customers
Number of reportable operating business segments \| Item									3
Revenue:
Total revenue	$ 9,935,813	$ 9,911,673	$ 9,618,797	$ 9,479,055	$ 9,323,947	$ 9,510,792	$ 8,708,709	$ 7,079,406	$ 38,945,338	$ 34,622,854	$ 19,131,147
Gross profit:
Gross profit	$ 163,337	$ 180,752	$ 172,123	$ 157,235	$ 162,286	$ 170,847	$ 165,102	$ 136,768	673,447	635,003	442,141
Income from operations:
Income from operations									257,023	256,972	180,866
Depreciation and amortization:
Depreciation and amortization									36,714	40,530	19,106
Capital expenditures:
Total capital expenditures									28,454	19,492	15,188
Operating Segments
Income from operations:
Income from operations									306,673	304,442	218,955
Aviation segment
Revenue:
Total revenue									14,692,042	12,866,019	7,132,749
Gross profit:
Gross profit									294,601	306,112	215,130
Income from operations:
Income from operations									128,153	146,411	118,351
Depreciation and amortization:
Depreciation and amortization									17,381	23,392	5,105
Capital expenditures:
Total capital expenditures									4,713	2,230	510
Marine segment
Revenue:
Total revenue									14,750,425	14,565,086	9,220,998
Gross profit:
Gross profit									208,028	195,109	165,344
Income from operations:
Income from operations									103,229	95,982	84,656
Depreciation and amortization:
Depreciation and amortization									5,387	3,942	4,178
Capital expenditures:
Total capital expenditures									8,981	3,714	3,109
Land segment
Revenue:
Total revenue									9,502,871	7,191,749	2,777,400
Gross profit:
Gross profit									170,818	133,782	61,667
Income from operations:
Income from operations									75,291	62,049	15,948
Depreciation and amortization:
Depreciation and amortization									10,406	9,825	7,362
Capital expenditures:
Total capital expenditures									7,243	3,031	1,243
Corporate
Income from operations:
Corporate overhead									49,650	47,470	38,089
Depreciation and amortization:
Depreciation and amortization									3,540	3,371	2,461
Capital expenditures:
Total capital expenditures									$ 7,517	$ 10,517	$ 10,326

Business Segments, Geographic Information, and Major Customers (Details 2) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Accounts receivable, net:
Accounts receivable, net	$ 2,193,866	$ 2,160,561
Goodwill
Goodwill	470,506	346,246	$ 287,434
Identifiable intangible assets, net:
Identifiable intangible assets, net	172,273	107,620
Total assets:
Total assets	4,107,751	3,697,246
Aviation segment
Accounts receivable, net:
Accounts receivable, net	674,973	569,086
Allowance for bad debt	8,997	8,441
Goodwill
Goodwill	109,332	102,509	61,608
Identifiable intangible assets, net:
Identifiable intangible assets, net	38,874	42,880
Total assets:
Total assets	1,463,423	1,149,031
Marine segment
Accounts receivable, net:
Accounts receivable, net	1,069,833	1,261,340
Allowance for bad debt	7,742	9,495
Goodwill
Goodwill	69,931	70,522	71,220
Identifiable intangible assets, net:
Identifiable intangible assets, net	6,656	8,659
Total assets:
Total assets	1,330,796	1,568,378
Land segment
Accounts receivable, net:
Accounts receivable, net	449,060	330,135
Allowance for bad debt	6,980	6,365
Goodwill
Goodwill	291,243	173,215	$ 154,606
Identifiable intangible assets, net:
Identifiable intangible assets, net	126,743	56,081
Total assets:
Total assets	1,145,756	816,595
Corporate
Total assets:
Total assets	$ 167,776	$ 163,242

Business Segments, Geographic Information, and Major Customers (Details 3) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Revenue:
Revenue	$ 9,935,813	$ 9,911,673	$ 9,618,797	$ 9,479,055	$ 9,323,947	$ 9,510,792	$ 8,708,709	$ 7,079,406	$ 38,945,338	$ 34,622,854	$ 19,131,147
Income from operations:
Income from operations									257,023	256,972	180,866
Non-current assets:
Non-current assets	826,374				575,019				826,374	575,019
Total assets:
Total assets	4,107,751				3,697,246				4,107,751	3,697,246
Americas
Revenue:
Revenue									23,293,260	19,965,339	10,250,360
Income from operations:
Income from operations									103,005	92,083	38,419
Non-current assets:
Non-current assets	610,434				439,388				610,434	439,388
Total assets:
Total assets	2,273,945				1,975,561				2,273,945	1,975,561
United States
Revenue:
Revenue									20,200,000	17,500,000	8,700,000
Income from operations:
Income from operations									67,000	59,800	1,600
Non-current assets:
Non-current assets	596,700				425,200				596,700	425,200
Total assets:
Total assets	2,000,000				1,700,000				2,000,000	1,700,000
EMEA
Revenue:
Revenue									7,247,754	6,695,315	3,472,934
Income from operations:
Income from operations									82,964	76,881	59,249
Non-current assets:
Non-current assets	214,607				134,311				214,607	134,311
Total assets:
Total assets	1,122,007				946,789				1,122,007	946,789
United Kingdom
Revenue:
Revenue									5,200,000	5,000,000	2,600,000
Asia/ Pacific
Revenue:
Revenue									8,404,324	7,962,200	5,407,853
Income from operations:
Income from operations									71,054	88,008	83,198
Non-current assets:
Non-current assets	1,333				1,320				1,333	1,320
Total assets:
Total assets	$ 711,799				$ 774,896				711,799	774,896
Singapore
Revenue:
Revenue									$ 8,400,000	$ 8,000,000	$ 5,400,000

Summary Quarterly Information (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Summary of unaudited quarterly result
Revenue	$ 9,935,813	$ 9,911,673	$ 9,618,797	$ 9,479,055	$ 9,323,947	$ 9,510,792	$ 8,708,709	$ 7,079,406	$ 38,945,338	$ 34,622,854	$ 19,131,147
Gross profit	163,337	180,752	172,123	157,235	162,286	170,847	165,102	136,768	673,447	635,003	442,141
Net income including noncontrolling interest	45,025	52,898	54,882	48,546	53,030	53,842	50,673	41,657	201,351	199,202	146,503
Net income attributable to World Fuel	$ 42,836	$ 51,494	$ 48,600	$ 46,415	$ 50,062	$ 52,655	$ 50,203	$ 41,109	$ 189,345	$ 194,029	$ 146,865
Basic earnings per common share (in dollars per share)	$ 0.60	$ 0.72	$ 0.68	$ 0.65	$ 0.70	$ 0.74	$ 0.71	$ 0.59	$ 2.66	$ 2.74	$ 2.36
Diluted earnings per common share (in dollars per share)	$ 0.60	$ 0.72	$ 0.68	$ 0.65	$ 0.70	$ 0.74	$ 0.70	$ 0.58	$ 2.64	$ 2.71	$ 2.31

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

+ Details

- Definition

+ References + Details

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 19
-URI http://asc.fasb.org/extlink&oid=7656940&loc=SL4569616-111683

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4K
-URI http://asc.fasb.org/extlink&oid=18733213&loc=SL4591552-111686

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (a),(c)
-URI http://asc.fasb.org/extlink&oid=18733093&loc=SL4573702-111684

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4J
-URI http://asc.fasb.org/extlink&oid=18733213&loc=SL4591551-111686

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 29
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph c(1)
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 5
-Subparagraph b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph A1, A4, A5
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details