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Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2015	Apr. 23, 2015
Document and Entity Information
Entity Registrant Name	WORLD FUEL SERVICES CORP
Entity Central Index Key	0000789460
Document Type	10-Q
Document Period End Date	Mar. 31, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		72,187,000
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1

Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 391.0	$ 302.3
Accounts receivable, net	2,202.3	2,307.9
Inventories	421.9	437.6
Prepaid expenses	52.9	76.9
Short-term derivative assets, net	232.9	303.6
Other current assets	294.6	246.6
Total current assets	3,595.6	3,674.9
Property and equipment, net	203.9	202.7
Goodwill	645.9	656.1
Identifiable intangible and other non-current assets	342.6	346.3
Total assets	4,788.0	4,880.0
Current liabilities:
Short-term debt	21.4	17.9
Accounts payable	1,736.2	1,850.1
Customer deposits	103.4	138.8
Accrued expenses and other current liabilities	251.8	234.5
Total current liabilities	2,112.8	2,241.3
Long-term debt	679.4	672.0
Non-current income tax liabilities, net	90.2	82.5
Other long-term liabilities	23.4	19.3
Total liabilities	2,905.8	3,015.1
Commitments and contingencies
World Fuel shareholders' equity:
Preferred stock, $1.00 par value; 100 shares authorized, none issued
Common stock, $0.01 par value; 100 shares authorized, 72.1 issued and outstanding as of March 31, 2015 and December 31, 2014, respectively	0.7	0.7
Capital in excess of par value	497.1	496.4
Retained earnings	1,469.9	1,418.5
Accumulated other comprehensive loss	(96.2)	(60.2)
Total World Fuel shareholders' equity	1,871.5	1,855.4
Noncontrolling interest equity	10.7	9.5
Total equity	1,882.2	1,864.9
Total liabilities and equity	$ 4,788.0	$ 4,880.0

Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Millions	Mar. 31, 2015	Dec. 31, 2014
Consolidated Balance Sheets
Preferred stock, par value (in dollars per share)	$ 1.00	$ 1.00
Preferred stock, shares authorized	0.1	0.1
Preferred stock, shares issued	0.0	0.0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	100.0	100.0
Common stock, shares issued	72.1	72.1
Common stock, shares outstanding	72.1	72.1

Consolidated Statements of Income and Comprehensive Income - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Consolidated Statements of Income and Comprehensive Income
Revenue	$ 7,340.7	$ 10,550.9
Cost of revenue	7,125.3	10,362.9
Gross profit	215.4	188.0
Operating expenses:
Compensation and employee benefits	88.6	71.1
Provision for bad debt	1.3	1.1
General and administrative	54.0	51.5
Total operating expenses	143.9	123.7
Income from operations	71.5	64.3
Non-operating expenses, net:
Interest expense and other financing costs, net	(7.3)	(4.4)
Other income, net	0.3	1.9
Total non-operating expenses, net	(7.0)	(2.5)
Income before income taxes	64.5	61.8
Provision for income taxes	9.9	11.3
Net income including noncontrolling interest	54.6	50.5
Net loss attributable to noncontrolling interest	(1.0)	(0.2)
Net income attributable to World Fuel	$ 55.6	$ 50.7
Basic earnings per common share (in dollars per share)	$ 0.79	$ 0.72
Basic weighted average common shares (in shares)	70.7	70.7
Diluted earnings per common share (in dollars per share)	$ 0.78	$ 0.71
Diluted weighted average common shares (in shares)	71.4	71.4
Comprehensive income:
Net income including noncontrolling interest	$ 54.6	$ 50.5
Other comprehensive (loss) income:
Foreign currency translation adjustments	(33.8)	3.5
Other comprehensive (loss) income	(33.8)	3.5
Comprehensive income including noncontrolling interest	20.8	54.0
Comprehensive income (loss) attributable to noncontrolling interest	1.2	(0.2)
Comprehensive income attributable to World Fuel	$ 19.6	$ 54.2

Consolidated Statements of Shareholders' Equity - USD ($) shares in Millions, $ in Millions	Common Stock	Capital in Excess of Par Value	Retained Earnings	Accumulated Other Comprehensive Loss	Total World Fuel Shareholders' Equity	Noncontrolling Interest Equity	Total
Balance at Dec. 31, 2013	$ 0.7	$ 495.2	$ 1,207.3	$ (29.3)	$ 1,673.9	$ 5.0	$ 1,678.9
Balance (in shares) at Dec. 31, 2013	71.9
Increase (Decrease) in Shareholders' Equity
Net income (loss)			50.7		50.7	(0.2)	50.5
Cash dividends declared			(2.6)		(2.6)		(2.6)
Amortization of share-based payment awards		3.8			3.8		3.8
Issuance of common stock related to share-based payment awards including income tax benefit of $0.9 and $0.5 for the three months ended March 2015 and March 2014 respectively		0.6			0.6		0.6
Issuance of common stock related to share-based payment awards (in shares)	0.1
Purchases of common stock tendered by employees to satisfy the required withholding taxes related to share-based payment awards		(2.8)			(2.8)		(2.8)
Other comprehensive (loss) income				3.5	3.5		3.5
Balance at Mar. 31, 2014	$ 0.7	496.8	1,255.4	(25.8)	1,727.1	4.8	1,731.9
Balance (in shares) at Mar. 31, 2014	72.0
Balance at Dec. 31, 2014	$ 0.7	496.4	1,418.5	(60.2)	1,855.4	9.5	$ 1,864.9
Balance (in shares) at Dec. 31, 2014	72.1						72.1
Increase (Decrease) in Shareholders' Equity
Net income (loss)			55.6		55.6	(1.0)	$ 54.6
Cash dividends declared			(4.2)		(4.2)		(4.2)
Amortization of share-based payment awards		3.7			3.7		3.7
Issuance of common stock related to share-based payment awards including income tax benefit of $0.9 and $0.5 for the three months ended March 2015 and March 2014 respectively		1.0			1.0		1.0
Issuance of common stock related to share-based payment awards (in shares)	0.1
Purchases of common stock tendered by employees to satisfy the required withholding taxes related to share-based payment awards		(4.0)			(4.0)		(4.0)
Purchases of common stock tendered by employees to satisfy the required withholding taxes related to share-based payment awards (in shares)	(0.1)
Other comprehensive (loss) income				(36.0)	(36.0)	2.2	(33.8)
Balance at Mar. 31, 2015	$ 0.7	$ 497.1	$ 1,469.9	$ (96.2)	$ 1,871.5	$ 10.7	$ 1,882.2
Balance (in shares) at Mar. 31, 2015	72.1						72.1

Consolidated Statements of Shareholders' Equity (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Consolidated Statements of Shareholders' Equity
Issuance of common stock related to share-based payment awards, income tax benefit	$ 0.9	$ 0.5

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Cash flows from operating activities:
Net income including noncontrolling interest	$ 54.6	$ 50.5
Adjustments to reconcile net income including noncontrolling interest to net cash provided by operating activities:
Depreciation and amortization	13.4	12.4
Provision for bad debt	1.3	1.1
Share-based payment award compensation costs	4.2	4.0
Deferred income tax (benefit) provision	(3.7)	4.2
Extinguishment of liabilities	(3.7)	(1.8)
Other	(1.1)	0.8
Changes in assets and liabilities, net of acquisitions:
Accounts receivable, net	85.6	(15.6)
Inventories	13.0	91.3
Prepaid expenses	20.6	35.9
Short-term derivative assets, net	74.3	(0.8)
Other current assets	(25.5)	(9.7)
Cash collateral with financial counterparties	43.6	(10.1)
Other non-current assets	(1.4)	(4.1)
Accounts payable	(91.9)	(77.9)
Customer deposits	(33.3)	0.7
Accrued expenses and other current liabilities	(35.7)	10.0
Non-current income tax, net and other long-term liabilities	(7.4)	0.7
Total adjustments	52.3	41.1
Net cash provided by operating activities	106.9	91.6
Cash flows from investing activities:
Acquisition of businesses, net of cash acquired and other investments	(3.7)	(154.0)
Capital expenditures	(13.1)	(8.9)
Proceeds from the sale of fixed assets	5.3
Escrow payment related to an assumed obligation of an acquired business		(21.7)
Net cash used in investing activities	(11.5)	(184.6)
Cash flows from financing activities:
Borrowings of debt	1,349.1	1,249.4
Repayments of debt	(1,342.4)	(997.2)
Payments of senior revolving credit facility and senior term loan facility loan costs	(3.4)
Dividends paid on common stock	(2.6)	(2.6)
Federal and state tax benefits resulting from tax deductions in excess of the compensation cost recognized for share-based payment awards	0.9	0.5
Purchases of common stock tendered by employees to satisfy the required withholding taxes related to share-based payment awards	(4.0)	(2.8)
Net cash (used in) provided by financing activities	(2.4)	247.3
Effect of exchange rate changes on cash and cash equivalents	(4.3)	0.1
Net increase in cash and cash equivalents	88.7	154.4
Cash and cash equivalents, as of beginning of period	302.3	292.1
Cash and cash equivalents, as of end of period	$ 391.0	$ 446.5

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Supplemental Schedule of Noncash Investing and Financing Activities
Cash dividends declared, but not yet paid	$ 4.2	$ 2.6
Assets acquired, net of cash	451.7
Liabilities assumed	$ 297.9

Significant Accounting Policies	3 Months Ended
Significant Accounting Policies	Mar. 31, 2015
Significant Accounting Policies
Significant Accounting Policies	World Fuel Services Corporation and Subsidiaries Notes to the Consolidated Financial Statements (Unaudited) 1.Significant Accounting Policies The significant accounting policies we use for quarterly financial reporting are the same as those disclosed in Note 1 of the “Notes to the Consolidated Financial Statements” included in our 2014 10‑K Report. Goodwill During the first three months of 2015, we increased land segment goodwill by $1.0 million as a result of a reduction in identifiable intangible assets and an increase in property and equipment and reduced aviation segment goodwill by $1.9 million as a result of a reduction in purchase price based on our ongoing fair value assessment of certain of our 2014 acquisitions. Additionally, we had goodwill decreases of $5.9 million, $2.6 million and $0.8 million as a result of foreign currency translation adjustments of our non-U.S. dollar functional currency subsidiaries in our land, aviation and marine segments, respectively. Recent Accounting Pronouncements Interest—Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs. In April 2015, the Financial Accounting Standards Board (“FASB”) issued an Accounting Standards Update (“ASU”) which requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this ASU. This update is effective at the beginning of our 2016 fiscal year. We do not believe the adoption of this new guidance will have a significant impact on our consolidated financial statements and disclosures. Consolidation: Amendments to the Consolidation Analysis. In February 2015, the FASB issued an ASU which is intended to improve targeted areas of consolidation guidance for legal entities such as limited partnerships, limited liability corporations, and securitization structures. This update is effective at the beginning of our 2016 fiscal year. We do not believe the adoption of this new guidance will have a significant impact on our consolidated financial statements and disclosures. Income Statement-Extraordinary and Unusual Items: Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items. In January 2015, the FASB issued an ASU which eliminates from generally accepted accounting principles in the United States the concept of extraordinary items. This update is effective at the beginning of our 2016 fiscal year. We do not believe the adoption of this new guidance will have a significant impact on our consolidated financial statements and disclosures. Derivatives and Hedging: Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share Is More Akin to Debt or to Equity. In November 2014, the FASB issued an ASU which clarifies how current generally accepted accounting principles in the United States should be interpreted in evaluating the economic characteristics and risks of a host contract in a hybrid financial instrument that is issued in the form of a share. This update is effective at the beginning of our 2016 fiscal year. We do not believe the adoption of this new guidance will have a significant impact on our consolidated financial statements and disclosures. Presentation of Financial Statements-Going Concern: Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. In August 2014, the FASB issued an ASU which requires management of the Company to evaluate whether there is substantial doubt about the Company’s ability to continue as a going concern. This update is effective at the beginning of our 2017 fiscal year. We do not believe the adoption of this new guidance will have an impact on our financial statement disclosures. Compensation-Stock Compensation. Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. In June 2014, the FASB issued an ASU which includes guidance that requires a performance target that affects vesting and that could be achieved after the requisite service period to be treated as a performance condition. This update is effective at the beginning of our 2016 fiscal year. We do not believe the adoption of this new guidance will have a significant impact on our consolidated financial statements and disclosures. Transfers and Servicing: Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures. In June 2014, the FASB issued an ASU which changes the accounting for repurchase-to-maturity transactions and repurchase financing arrangements. It also requires additional disclosures about repurchase agreements and other similar transactions. This update became effective at the beginning of our 2015 fiscal year. The adoption of this ASU did not have a significant impact on our consolidated financial statements and disclosures. Revenue from Contracts with Customers. In May 2014, the FASB issued an ASU which provides guidance for revenue recognition for any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of non-financial assets. The ASU will replace most existing revenue recognition guidance in generally accepted accounting principles in the United States when it becomes effective. This update is effective at the beginning of our 2017 fiscal year. We are currently evaluating whether the adoption of this new guidance will have a significant impact on our consolidated financial statements and disclosures. Presentation of Financial Statements and Property, Plant, and Equipment: Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. In April 2014, the FASB issued an ASU which changes the criteria for reporting discontinued operations and enhances disclosures in this area. It also addresses sources of confusion and inconsistent application related to financial reporting of discontinued operations guidance. This update became effective at the beginning of our 2015 fiscal year. The adoption of this ASU did not have a significant impact on our consolidated financial statements and disclosures. Reclassifications Certain amounts in prior periods have been reclassified to conform to the current period’s presentation.

Fair Value Measurements

3 Months Ended

Mar. 31, 2015

Fair Value Measurements

Fair Value Measurements

2.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 $700.8 million and $689.9 million as of March 31, 2015 and December 31, 2014, respectively, and our notes receivable of $8.2 million and $7.0 million as of March 31, 2015 and December 31, 2014, respectively, are categorized in Level 3.

The following table presents information about our financial assets and liabilities that are measured at estimated fair value on a recurring basis (in millions):



									Netting
									and
	Level 1		Level 2		Level 3		Sub-Total		Collateral		Total
As of March 31, 2015
Assets:
Commodity contracts	$	207.3	$	377.4	$	1.3	$	586.0	$	(351.0)	$	235.0
Foreign currency contracts		—		17.6		—		17.6		(5.1)		12.5
Cash surrender value of life insurance		—		2.3		—		2.3		—		2.3
Total	$	207.3	$	397.3	$	1.3	$	605.9	$	(356.1)	$	249.8
Liabilities:
Commodity contracts	$	339.2	$	228.4	$	0.3	$	567.9	$	(526.1)	$	41.8
Foreign currency contracts		—		5.1		—		5.1		(5.1)		—
Inventories		—		5.8		—		5.8		—		5.8
Total	$	339.2	$	239.3	$	0.3	$	578.8	$	(531.2)	$	47.6

As of December 31, 2014
Assets:
Commodity contracts	$	173.7	$	495.6	$	4.2	$	673.5	$	(368.0)	$	305.5
Foreign currency contracts		—		21.8		—		21.8		(12.0)		9.8
Cash surrender value of life insurance		—		2.2		—		2.2		—		2.2
Total	$	173.7	$	519.6	$	4.2	$	697.5	$	(380.0)	$	317.5
Liabilities:
Commodity contracts	$	306.4	$	329.9	$	1.3	$	637.6	$	(595.6)	$	42.0
Foreign currency contracts		—		12.0		—		12.0		(12.0)		—
Inventories		—		22.9		—		22.9		—		22.9
Total	$	306.4	$	364.8	$	1.3	$	672.5	$	(607.6)	$	64.9

The cash surrender value of life insurance is in connection with the non-qualified deferred compensation plan and was included in identifiable intangible and other non-current assets in the accompanying consolidated balance sheets.

The following table presents information regarding the balance sheet location of our commodity and foreign currency contracts net assets and liabilities (in millions):


	As of
	March 31, 2015		December 31, 2014
Commodity Contracts
Assets:
Short-term derivative assets, net	$	221.4	$	294.3
Identifiable intangible and other non-current assets		13.6		11.2
Total net assets	$	235.0	$	305.5

Liabilities:
Accrued expenses and other current liabilities	$	39.3	$	41.3
Other long-term liabilities		2.5		0.7
Total net liabilities	$	41.8	$	42.0

Foreign Currency Contracts
Assets:
Short-term derivative assets, net	$	11.5	$	9.3
Identifiable intangible and other non-current assets		1.0		0.5
Total net assets	$	12.5	$	9.8

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 March 31, 2015, we had $257.4 million of cash collateral deposits held by financial counterparties, of which $207.1 million have been offset against the total amount of commodity fair value liabilities in the above table and the remaining $50.3 million is included in other current assets in the accompanying consolidated balance sheets. In addition, as of March 31, 2015, we have offset $32.0 million of cash collateral deposits received from customers against the total amount of commodity fair value assets in the above table. As of December 31, 2014, we had $301.0 million of cash collateral deposits held by financial counterparties, of which $274.3 million have been offset against the total amount of commodity fair value liabilities in the above table and the remaining $26.7 million is included in other current assets in the accompanying consolidated balance sheets. In addition, as of December 31, 2014, we have offset $46.7 million of cash collateral deposits received from customers against the total amount of commodity fair value assets 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 millions):


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

Three months ended March 31, 2015
Assets:
Commodity contracts	$	4.2	$	0.8	$	3.7	$	1.3	$	(0.4)	Revenue
Liabilities:
Commodity contracts	$	1.3	$	0.5	$	0.5	$	0.3	$	0.8	Cost of revenue

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 as well as certain risk related to non-performance. The effect on our income before income taxes of a 10% change in the model input for non-performance risk would not be significant. There were no transfers between Level 1, 2 or 3 during 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 + Details

Derivatives

3 Months Ended

Mar. 31, 2015

Derivatives

Derivatives

3.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.

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.

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.

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 March 31, 2015, our derivative instruments, at their respective fair value positions were as follows (in millions, except weighted average fixed price and weighted average mark-to-market amount):


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

Fair Value Hedge	2015	Commodity contracts for inventory hedging	4.4	BBL	$	56.203	$	1.500	$	6.6

Non-Designated	2015	Commodity contracts (long)	44.1	BBL	$	54.721	$	(9.880)	$	(435.7)
	2015	Commodity contracts (short)	34.9	BBL		70.043		13.169		459.6
	2016	Commodity contracts (long)	6.8	BBL		49.795		(5.382)		(36.6)
	2016	Commodity contracts (short)	4.3	BBL		69.663		5.512		23.7
	2017	Commodity contracts (long)	0.2	BBL		39.786		(5.000)		(1.0)
	2017	Commodity contracts (short)	0.2	BBL		42.019		6.000		1.2
	2018	Commodity contracts (short)	0.1	BBL		83.997		3.000		0.3
	2015	Foreign currency contracts	0.5	AUD		0.784		0.200		0.1
	2015	Foreign currency contracts	27.9	CAD		1.239		0.061		1.7
	2015	Foreign currency contracts	15.7	DKK		6.664		0.006		0.1
	2015	Foreign currency contracts	25.1	EUR		1.136		0.124		3.1
	2015	Foreign currency contracts	59.7	GBP		1.545		0.090		5.4
	2015	Foreign currency contracts	123.8	MXN		15.004		(0.002)		(0.2)
	2015	Foreign currency contracts	35.3	RON		3.943		0.017		0.6
	2015	Foreign currency contracts	53.8	ZAR		11.935		0.002		0.1
	2016	Foreign currency contracts	21.7	GBP		1.554		0.065		1.4
	2017	Foreign currency contracts	1.4	GBP		1.610		0.143		0.2
									$	24.0

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


		As of
		March 31,		December 31,
	Balance Sheet Location	2015		2014
Derivative assets:
Derivatives designated as hedging instruments
Commodity contracts	Short-term derivative assets, net	$	9.0	$	18.8
Commodity contracts	Accrued expenses and other current liabilities		2.8		4.7
			11.8		23.5
Derivatives not designated as hedging instruments
Commodity contracts	Short-term derivative assets, net		355.3		399.0
Commodity contracts	Identifiable intangible and other non-current assets		14.1		12.1
Commodity contracts	Accrued expenses and other current liabilities		198.8		234.1
Commodity contracts	Other long-term liabilities		6.0		4.8
Foreign currency contracts	Short-term derivative assets, net		16.6		21.3
Foreign currency contracts	Identifiable intangible and other non-current assets		1.0		0.5
			591.8		671.8
		$	603.6	$	695.3

Derivative liabilities:
Derivatives designated as hedging instruments
Commodity contracts	Short-term derivative assets, net	$	4.8	$	1.0
Commodity contracts	Accrued expenses and other current liabilities		0.4		0.7
			5.2		1.7
Derivatives not designated as hedging instruments
Commodity contracts	Short-term derivative assets, net		106.1		76.0
Commodity contracts	Identifiable intangible and other non-current assets		0.5		0.6
Commodity contracts	Accrued expenses and other current liabilities		439.0		530.0
Commodity contracts	Other long-term liabilities		17.1		29.3
Foreign currency contracts	Short-term derivative assets, net		5.1		12.0
			567.8		647.9
		$	573.0	$	649.6

The following table presents the effect 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 millions):


		Realized and Unrealized						Realized and Unrealized
Derivative Instruments	Location	Gain				Hedged Items	Location	Loss
		2015		2014				2015		2014
Three months ended March 31,
Commodity contracts	Cost of revenue	$	4.0	$	0.4	Inventories	Cost of revenue	$	(0.5)	$	(7.6)

There were no gains or losses for the three months ended March 31, 2015 and 2014 that were excluded from the assessment of the effectiveness of our fair value hedges.

There were no cash flow hedging activities during the three months ended March 31, 2015 and 2014.

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 millions):


		Realized and Unrealized
Derivatives	Location	Gain (Loss)
		2015		2014

Three months ended March 31,
Commodity contracts	Revenue	$	20.6	$	6.9
Commodity contracts	Cost of revenue		(11.7)		9.6
Foreign currency contracts	Revenue		3.9		(0.3)
Foreign currency contracts	Other income, net		9.2		(0.7)
		$	22.0	$	15.5

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. As of March 31, 2015, the net liability position for such contracts is $73.3 million, the collateral posted is $57.5 million and the amount of assets required to be posted and/or to settle the positions should a credit-risk contingent feature be triggered is $15.8 million. As of December 31, 2014, the net liability position for such contracts is $111.7 million, the collateral posted is $89.4 million and the amount of assets required to be posted and/or to settle the positions should a credit-risk contingent feature be triggered is $22.3 million.

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 10: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 19: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
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+ Details

Interest Income, Expense and Other Financing Costs

3 Months Ended

Mar. 31, 2015

Interest Income, Expense and Other Financing Costs

Interest Income, Expense and Other Financing Costs

4.Interest Income, Expense and Other Financing Costs

The following table provides additional information about our interest (expense) income, and other financing costs, net, for the periods presented (in millions):


	For the Three Months ended
	March 31,
	2015		2014
Interest income	$	1.2	$	1.6
Interest expense and other financing costs		(8.5)		(6.0)
	$	(7.3)	$	(4.4)

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2015
Commitments and Contingencies
Commitments and Contingencies	5.Commitments and Contingencies Legal Matters Lac-Megantic, Quebec As previously disclosed in “Note 7 — Commitments and Contingencies” in the Notes to the Consolidated Financial Statements included in our 2014 10-K Report, various lawsuits have been filed against us and other third parties related to the July 2013 train derailment in Lac-Mégantic, Quebec. The Trustee for Montreal, Maine and Atlantic Railway’s (“MMA”) U.S. bankruptcy estate (the “Trustee”) and the monitor in MMA’s Canadian bankruptcy continue to discuss a global settlement with various parties, including us, and such discussions are ongoing. Although amounts to settle have been proffered to us in the course of discussions, to date such offers have been informal, not fully defined, or varied significantly in terms of scope and substance. In addition, the settlement discussions have involved multiple parties whose support for the various offers has been uncertain. Accordingly, we are unable to provide information at this time that we believe would enable investors to reasonably assess the significance of these offers or their bearing on the probability, timing or range of any potential settlement. While we continue to actively discuss a potential settlement to resolve the outstanding claims against us, the settlement discussions may not ultimately result in an agreement. The Trustee and the Canadian debtor have each filed proposed bankruptcy plans (in the U.S. and Canada, respectively) that seek to implement settlements reached to date with other parties. Prior to becoming effective, the proposed bankruptcy plans will need to be approved by the requisite creditors in both the U.S. and Canadian bankruptcies, such as plaintiffs in the class action and the Quebec provincial government. Thereafter, if so approved, the plans will be submitted to the respective bankruptcy courts for approval. The bankruptcy plans may also be challenged by third parties objecting to the plans and, therefore, approval of the plans and the related timing is uncertain. The bankruptcy plans may be amended at any time prior to their effective date to include additional settlements. For additional information regarding legal proceedings related to the train derailment, see our 2014 10-K Report and Part II — Item 1 of this 10-Q Report. In light of the facts, circumstances and other information available to us at this time, we are currently unable to determine the probability of loss, or reasonably estimate a range of potential losses related to the proceedings arising from the train derailment. Accordingly, we have not made any provision for these potential losses in our consolidated financial statements. However, based on estimated losses related to the value of the tank cars involved in the incident, as well as legal and other costs incurred in connection with the incident, which we believe are probable and for which a reasonable estimate can be made, we have recorded total liabilities of $42.2 million. We believe that a substantial portion of these liabilities are covered by insurance and have recorded total receivables of $39.1 million. As of March 31, 2015, the remaining unpaid liabilities of $16.3 million are included primarily in accrued expenses and other current liabilities and the remaining uncollected receivable of $29.4 million is included in other current assets in the accompanying consolidated balance sheets. Other Matters In connection with a theft of fuel product valued at approximately $18.0 million, we recorded an insurance receivable for the full amount of the loss, which is included in other current assets in the accompanying consolidated balance sheets. On July 31, 2014, our insurer, AGCS Marine Insurance Company (“AGCS”), filed a declaratory judgment action against us in the United States District Court for the Southern District of New York seeking a court ruling that the loss is not covered under our policy. During the quarter ended December 31, 2014, we filed an answer to the AGCS complaint and counterclaims against AGCS for declaratory judgment and breach of contract seeking a court ruling that the loss is covered under the policy, an award of damages equal to the full amount of our loss plus interest, as well as fees and costs. We believe AGCS’ position is without merit and we intend to vigorously pursue our rights. However, due to the complexities and uncertainties inherent in litigation, we can provide no assurance that we will recover the full amount of the loss. We are a party to various claims, complaints and proceedings arising in the ordinary course of our business including, but not limited to, environmental claims, commercial and governmental contract claims, such as property damage, demurrage, billing and fuel quality claims, as well as bankruptcy preference claims and tax and administrative 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 March 31, 2015, 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 consolidated financial statements. 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 consolidated financial statements or disclosures 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. Termination of Employment Agreement On March 13, 2015, we agreed with Mr. Michael S. Clementi that he would retire from his position as Aviation Segment President, effective March 16, 2015. In connection with the termination of his employment agreement, we recorded a charge totaling $3.8 million in March 2015, which included non-cash expenses of $0.8 million related to previously awarded stock compensation. As of March 31, 2015, $1.0 million of the cash portion of the termination of the employment agreement charge was included in accrued expenses and other current liabilities and $2.0 million was included in other long-term liabilities in the accompanying consolidated balance sheets.

Other Comprehensive (Loss) Income and Accumulated Other Comprehensive Loss

3 Months Ended

Mar. 31, 2015

Other Comprehensive (Loss) Income and Accumulated Other Comprehensive Loss

Other Comprehensive (Loss) Income and Accumulated Other Comprehensive Loss

6.Other Comprehensive (Loss) Income and Accumulated Other Comprehensive Loss

Our other comprehensive (loss) income, consisting of foreign currency translation adjustments related to our subsidiaries that have a functional currency other than the U.S. dollar was as follows (in millions):


	Accumulated
	Other
	Comprehensive
	Loss
Balance as of December 31, 2014	$	(60.2)
Other comprehensive loss		(33.8)
Less: Net other comprehensive income attributable to noncontrolling interest		2.2
Balance as of March 31, 2015	$	(96.2)

Balance as of December 31, 2013	$	(29.3)
Other comprehensive income		3.5
Balance as of March 31, 2014	$	(25.8)

The foreign currency translation adjustment losses for the three months ended March 31, 2015 were primarily due to the strengthening of the U.S. dollar as compared to the Brazilian Real and the British Pound. The foreign currency translation adjustment gains for the three months ended March 31, 2014 were primary due to the strengthening of the Brazilian Real as compared to the U.S dollar.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ 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))
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Publisher FASB
-Name Accounting Standards Codification
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-Number 210
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-Paragraph d
-Article 4

Reference 15: http://www.xbrl.org/2003/role/presentationRef
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Reference 16: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Income Taxes

3 Months Ended

Mar. 31, 2015

Income Taxes

Income Taxes

7.Income Taxes

Our income tax provision for the periods presented and the respective effective income tax rates for such periods are as follows (in millions, except for income tax rates):


	For the Three Months ended
	March 31,
	2015			2014
Income tax provision	$	9.9		$	11.3

Effective income tax rate		15.3	%		18.3	%

Our provision for income taxes for each of the three-month periods ended March 31, 2015 and 2014 was calculated based on the estimated annual effective income tax rate for the full 2015 and 2014 fiscal years. The actual effective income tax rate for the full 2015 fiscal year may be materially different as a result of differences between estimated versus actual results and the geographic tax jurisdictions in which the results are earned.

We operated under a special income tax concession in Singapore which began January 1, 2008. Our current five year special income tax concession was effective January 1, 2013. The special income tax concession is conditional upon our meeting of 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. 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 $2.3 million and $ 1.9 million for the three months ended March 31, 2015 and 2014, respectively. The impact of the income tax concession on basic earnings per common share was $0.03 for the three months ended March 31, 2015 and 2014, respectively. On a diluted earnings per common share basis, the impact was $0.03 for the three months ended March 31, 2015 and 2014, respectively.

Earnings per Common Share

3 Months Ended

Mar. 31, 2015

Earnings per Common Share

Earnings per Common Share

8.Earnings per Common Share

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


	For the Three Months ended
	March 31,
	2015		2014
Numerator:
Net income attributable to World Fuel	$	55.6	$	50.7

Denominator:
Weighted average common shares for basic earnings per common share		70.7		70.7
Effect of dilutive securities		0.7		0.7
Weighted average common shares for diluted earnings per common share		71.4		71.4

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		0.9		0.5

Basic earnings per common share	$	0.79	$	0.72

Diluted earnings per common share	$	0.78	$	0.71

Business Segments

3 Months Ended

Mar. 31, 2015

Business Segments

Business Segments

9.Business Segments

Based on the nature of operations and quantitative thresholds pursuant to accounting guidance for 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. Our results of operations include (i) the results of the acquisition of all of the outstanding stock of Watson Petroleum Limited (now known as WFL (UK) Limited) (“Watson Petroleum”) in our land segment commencing on March 7, 2014, its acquisition date, and (ii) the results of the acquisition of all of the outstanding stock of Colt International, L.L.C (“Colt”) in our aviation segment commencing on July 29, 2014, its acquisition date. 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 and income from operations by segment is as follows (in millions):


	For the Three Months ended
	March 31,
Revenue:	2015		2014
Aviation segment	$	2,897.0	$	4,249.8
Marine segment		2,320.7		3,480.2
Land segment		2,123.0		2,820.9
	$	7,340.7	$	10,550.9

Gross profit:
Aviation segment	$	82.9	$	68.9
Marine segment		53.9		47.8
Land segment		78.6		71.3
	$	215.4	$	188.0

Income from operations:
Aviation segment	$	27.8	$	30.1
Marine segment		26.1		21.0
Land segment		31.8		26.5
		85.7		77.6
Corporate overhead - unallocated		14.2		13.3
	$	71.5	$	64.3

Information concerning our accounts receivable, net and total assets by segment is as follows (in millions):


	As of
	March 31,		December 31,
	2015		2014
Accounts receivable, net:
Aviation segment, net of allowance for bad debt of $7.2 and $7.9 as of March 31, 2015 and December 31, 2014, respectively	$	653.2	$	686.5
Marine segment, net of allowance for bad debt of $8.4 as of March 31, 2015 and December 31, 2014, respectively		870.6		974.0
Land segment, net of allowance for bad debt of $9.7 and $9.4 as of March 31, 2015 and December 31, 2014, respectively		678.5		647.4
	$	2,202.3	$	2,307.9


Total assets:
Aviation segment	$	1,656.3	$	1,635.4
Marine segment		1,349.1		1,483.1
Land segment		1,570.7		1,570.6
Corporate		211.9		190.9
	$	4,788.0	$	4,880.0

- 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
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-Publisher FASB
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+ Details

Acquisitions and Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2015
Significant Accounting Policies
Goodwill	Goodwill During the first three months of 2015, we increased land segment goodwill by $1.0 million as a result of a reduction in identifiable intangible assets and an increase in property and equipment and reduced aviation segment goodwill by $1.9 million as a result of a reduction in purchase price based on our ongoing fair value assessment of certain of our 2014 acquisitions. Additionally, we had goodwill decreases of $5.9 million, $2.6 million and $0.8 million as a result of foreign currency translation adjustments of our non-U.S. dollar functional currency subsidiaries in our land, aviation and marine segments, respectively.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Interest—Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs. In April 2015, the Financial Accounting Standards Board (“FASB”) issued an Accounting Standards Update (“ASU”) which requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this ASU. This update is effective at the beginning of our 2016 fiscal year. We do not believe the adoption of this new guidance will have a significant impact on our consolidated financial statements and disclosures. Consolidation: Amendments to the Consolidation Analysis. In February 2015, the FASB issued an ASU which is intended to improve targeted areas of consolidation guidance for legal entities such as limited partnerships, limited liability corporations, and securitization structures. This update is effective at the beginning of our 2016 fiscal year. We do not believe the adoption of this new guidance will have a significant impact on our consolidated financial statements and disclosures. Income Statement-Extraordinary and Unusual Items: Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items. In January 2015, the FASB issued an ASU which eliminates from generally accepted accounting principles in the United States the concept of extraordinary items. This update is effective at the beginning of our 2016 fiscal year. We do not believe the adoption of this new guidance will have a significant impact on our consolidated financial statements and disclosures. Derivatives and Hedging: Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share Is More Akin to Debt or to Equity. In November 2014, the FASB issued an ASU which clarifies how current generally accepted accounting principles in the United States should be interpreted in evaluating the economic characteristics and risks of a host contract in a hybrid financial instrument that is issued in the form of a share. This update is effective at the beginning of our 2016 fiscal year. We do not believe the adoption of this new guidance will have a significant impact on our consolidated financial statements and disclosures. Presentation of Financial Statements-Going Concern: Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. In August 2014, the FASB issued an ASU which requires management of the Company to evaluate whether there is substantial doubt about the Company’s ability to continue as a going concern. This update is effective at the beginning of our 2017 fiscal year. We do not believe the adoption of this new guidance will have an impact on our financial statement disclosures. Compensation-Stock Compensation. Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. In June 2014, the FASB issued an ASU which includes guidance that requires a performance target that affects vesting and that could be achieved after the requisite service period to be treated as a performance condition. This update is effective at the beginning of our 2016 fiscal year. We do not believe the adoption of this new guidance will have a significant impact on our consolidated financial statements and disclosures. Transfers and Servicing: Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures. In June 2014, the FASB issued an ASU which changes the accounting for repurchase-to-maturity transactions and repurchase financing arrangements. It also requires additional disclosures about repurchase agreements and other similar transactions. This update became effective at the beginning of our 2015 fiscal year. The adoption of this ASU did not have a significant impact on our consolidated financial statements and disclosures. Revenue from Contracts with Customers. In May 2014, the FASB issued an ASU which provides guidance for revenue recognition for any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of non-financial assets. The ASU will replace most existing revenue recognition guidance in generally accepted accounting principles in the United States when it becomes effective. This update is effective at the beginning of our 2017 fiscal year. We are currently evaluating whether the adoption of this new guidance will have a significant impact on our consolidated financial statements and disclosures. Presentation of Financial Statements and Property, Plant, and Equipment: Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. In April 2014, the FASB issued an ASU which changes the criteria for reporting discontinued operations and enhances disclosures in this area. It also addresses sources of confusion and inconsistent application related to financial reporting of discontinued operations guidance. This update became effective at the beginning of our 2015 fiscal year. The adoption of this ASU did not have a significant impact on our consolidated financial statements and disclosures.
Reclassifications	Reclassifications Certain amounts in prior periods have been reclassified to conform to the current period’s presentation.

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2015

Fair Value Measurements

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



									Netting
									and
	Level 1		Level 2		Level 3		Sub-Total		Collateral		Total
As of March 31, 2015
Assets:
Commodity contracts	$	207.3	$	377.4	$	1.3	$	586.0	$	(351.0)	$	235.0
Foreign currency contracts		—		17.6		—		17.6		(5.1)		12.5
Cash surrender value of life insurance		—		2.3		—		2.3		—		2.3
Total	$	207.3	$	397.3	$	1.3	$	605.9	$	(356.1)	$	249.8
Liabilities:
Commodity contracts	$	339.2	$	228.4	$	0.3	$	567.9	$	(526.1)	$	41.8
Foreign currency contracts		—		5.1		—		5.1		(5.1)		—
Inventories		—		5.8		—		5.8		—		5.8
Total	$	339.2	$	239.3	$	0.3	$	578.8	$	(531.2)	$	47.6

As of December 31, 2014
Assets:
Commodity contracts	$	173.7	$	495.6	$	4.2	$	673.5	$	(368.0)	$	305.5
Foreign currency contracts		—		21.8		—		21.8		(12.0)		9.8
Cash surrender value of life insurance		—		2.2		—		2.2		—		2.2
Total	$	173.7	$	519.6	$	4.2	$	697.5	$	(380.0)	$	317.5
Liabilities:
Commodity contracts	$	306.4	$	329.9	$	1.3	$	637.6	$	(595.6)	$	42.0
Foreign currency contracts		—		12.0		—		12.0		(12.0)		—
Inventories		—		22.9		—		22.9		—		22.9
Total	$	306.4	$	364.8	$	1.3	$	672.5	$	(607.6)	$	64.9

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


	As of
	March 31, 2015		December 31, 2014
Commodity Contracts
Assets:
Short-term derivative assets, net	$	221.4	$	294.3
Identifiable intangible and other non-current assets		13.6		11.2
Total net assets	$	235.0	$	305.5

Liabilities:
Accrued expenses and other current liabilities	$	39.3	$	41.3
Other long-term liabilities		2.5		0.7
Total net liabilities	$	41.8	$	42.0

Foreign Currency Contracts
Assets:
Short-term derivative assets, net	$	11.5	$	9.3
Identifiable intangible and other non-current assets		1.0		0.5
Total net assets	$	12.5	$	9.8

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


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

Three months ended March 31, 2015
Assets:
Commodity contracts	$	4.2	$	0.8	$	3.7	$	1.3	$	(0.4)	Revenue
Liabilities:
Commodity contracts	$	1.3	$	0.5	$	0.5	$	0.3	$	0.8	Cost of revenue

Derivatives (Tables)

3 Months Ended

Mar. 31, 2015

Derivatives

Schedule of fair value positions of derivative instruments


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

Fair Value Hedge	2015	Commodity contracts for inventory hedging	4.4	BBL	$	56.203	$	1.500	$	6.6

Non-Designated	2015	Commodity contracts (long)	44.1	BBL	$	54.721	$	(9.880)	$	(435.7)
	2015	Commodity contracts (short)	34.9	BBL		70.043		13.169		459.6
	2016	Commodity contracts (long)	6.8	BBL		49.795		(5.382)		(36.6)
	2016	Commodity contracts (short)	4.3	BBL		69.663		5.512		23.7
	2017	Commodity contracts (long)	0.2	BBL		39.786		(5.000)		(1.0)
	2017	Commodity contracts (short)	0.2	BBL		42.019		6.000		1.2
	2018	Commodity contracts (short)	0.1	BBL		83.997		3.000		0.3
	2015	Foreign currency contracts	0.5	AUD		0.784		0.200		0.1
	2015	Foreign currency contracts	27.9	CAD		1.239		0.061		1.7
	2015	Foreign currency contracts	15.7	DKK		6.664		0.006		0.1
	2015	Foreign currency contracts	25.1	EUR		1.136		0.124		3.1
	2015	Foreign currency contracts	59.7	GBP		1.545		0.090		5.4
	2015	Foreign currency contracts	123.8	MXN		15.004		(0.002)		(0.2)
	2015	Foreign currency contracts	35.3	RON		3.943		0.017		0.6
	2015	Foreign currency contracts	53.8	ZAR		11.935		0.002		0.1
	2016	Foreign currency contracts	21.7	GBP		1.554		0.065		1.4
	2017	Foreign currency contracts	1.4	GBP		1.610		0.143		0.2
									$	24.0

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


		As of
		March 31,		December 31,
	Balance Sheet Location	2015		2014
Derivative assets:
Derivatives designated as hedging instruments
Commodity contracts	Short-term derivative assets, net	$	9.0	$	18.8
Commodity contracts	Accrued expenses and other current liabilities		2.8		4.7
			11.8		23.5
Derivatives not designated as hedging instruments
Commodity contracts	Short-term derivative assets, net		355.3		399.0
Commodity contracts	Identifiable intangible and other non-current assets		14.1		12.1
Commodity contracts	Accrued expenses and other current liabilities		198.8		234.1
Commodity contracts	Other long-term liabilities		6.0		4.8
Foreign currency contracts	Short-term derivative assets, net		16.6		21.3
Foreign currency contracts	Identifiable intangible and other non-current assets		1.0		0.5
			591.8		671.8
		$	603.6	$	695.3

Derivative liabilities:
Derivatives designated as hedging instruments
Commodity contracts	Short-term derivative assets, net	$	4.8	$	1.0
Commodity contracts	Accrued expenses and other current liabilities		0.4		0.7
			5.2		1.7
Derivatives not designated as hedging instruments
Commodity contracts	Short-term derivative assets, net		106.1		76.0
Commodity contracts	Identifiable intangible and other non-current assets		0.5		0.6
Commodity contracts	Accrued expenses and other current liabilities		439.0		530.0
Commodity contracts	Other long-term liabilities		17.1		29.3
Foreign currency contracts	Short-term derivative assets, net		5.1		12.0
			567.8		647.9
		$	573.0	$	649.6

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


		Realized and Unrealized						Realized and Unrealized
Derivative Instruments	Location	Gain				Hedged Items	Location	Loss
		2015		2014				2015		2014
Three months ended March 31,
Commodity contracts	Cost of revenue	$	4.0	$	0.4	Inventories	Cost of revenue	$	(0.5)	$	(7.6)

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


		Realized and Unrealized
Derivatives	Location	Gain (Loss)
		2015		2014

Three months ended March 31,
Commodity contracts	Revenue	$	20.6	$	6.9
Commodity contracts	Cost of revenue		(11.7)		9.6
Foreign currency contracts	Revenue		3.9		(0.3)
Foreign currency contracts	Other income, net		9.2		(0.7)
		$	22.0	$	15.5

- 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 5
-URI http://asc.fasb.org/extlink&oid=35706170&loc=d3e41641-113959

Reference 2: 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=35706170&loc=SL5624163-113959

Reference 3: 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=35706170&loc=d3e41678-113959

Reference 4: 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=35706170&loc=d3e41638-113959

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=35706170&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 1A
-URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5579245-113959

Reference 7: 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=35706170&loc=SL5624171-113959

Reference 8: 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 9: 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=35706170&loc=SL5579240-113959

Reference 10: 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=35706170&loc=d3e41620-113959

Reference 11: 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=26873400&loc=d3e23780-122690

+ Details

Interest Income, Expense and Other Financing Costs (Tables)

3 Months Ended

Mar. 31, 2015

Interest Income, Expense and Other Financing Costs

Schedule of interest expense and other financing costs, net


	For the Three Months ended
	March 31,
	2015		2014
Interest income	$	1.2	$	1.6
Interest expense and other financing costs		(8.5)		(6.0)
	$	(7.3)	$	(4.4)

Other Comprehensive (Loss) Income and Accumulated Other Comprehensive Loss (Tables)

3 Months Ended

Mar. 31, 2015

Other Comprehensive (Loss) Income and Accumulated Other Comprehensive Loss

Schedule of components of other comprehensive income and accumulated other comprehensive loss


	Accumulated
	Other
	Comprehensive
	Loss
Balance as of December 31, 2014	$	(60.2)
Other comprehensive loss		(33.8)
Less: Net other comprehensive income attributable to noncontrolling interest		2.2
Balance as of March 31, 2015	$	(96.2)

Balance as of December 31, 2013	$	(29.3)
Other comprehensive income		3.5
Balance as of March 31, 2014	$	(25.8)

Income Taxes (Tables)

3 Months Ended

Mar. 31, 2015

Income Taxes

Schedule of Income tax provision and the respective effective income tax rates


	For the Three Months ended
	March 31,
	2015			2014
Income tax provision	$	9.9		$	11.3

Effective income tax rate		15.3	%		18.3	%

Earnings per Common Share (Tables)

3 Months Ended

Mar. 31, 2015

Earnings per Common Share

Computation of basic and diluted earnings per common share


	For the Three Months ended
	March 31,
	2015		2014
Numerator:
Net income attributable to World Fuel	$	55.6	$	50.7

Denominator:
Weighted average common shares for basic earnings per common share		70.7		70.7
Effect of dilutive securities		0.7		0.7
Weighted average common shares for diluted earnings per common share		71.4		71.4

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		0.9		0.5

Basic earnings per common share	$	0.79	$	0.72

Diluted earnings per common share	$	0.78	$	0.71

Business Segments (Tables)

3 Months Ended

Mar. 31, 2015

Business Segments

Schedule of revenue, gross profit and income from operations by segment


	For the Three Months ended
	March 31,
Revenue:	2015		2014
Aviation segment	$	2,897.0	$	4,249.8
Marine segment		2,320.7		3,480.2
Land segment		2,123.0		2,820.9
	$	7,340.7	$	10,550.9

Gross profit:
Aviation segment	$	82.9	$	68.9
Marine segment		53.9		47.8
Land segment		78.6		71.3
	$	215.4	$	188.0

Income from operations:
Aviation segment	$	27.8	$	30.1
Marine segment		26.1		21.0
Land segment		31.8		26.5
		85.7		77.6
Corporate overhead - unallocated		14.2		13.3
	$	71.5	$	64.3

Schedule of accounts receivable, net and total assets by segment


	As of
	March 31,		December 31,
	2015		2014
Accounts receivable, net:
Aviation segment, net of allowance for bad debt of $7.2 and $7.9 as of March 31, 2015 and December 31, 2014, respectively	$	653.2	$	686.5
Marine segment, net of allowance for bad debt of $8.4 as of March 31, 2015 and December 31, 2014, respectively		870.6		974.0
Land segment, net of allowance for bad debt of $9.7 and $9.4 as of March 31, 2015 and December 31, 2014, respectively		678.5		647.4
	$	2,202.3	$	2,307.9


Total assets:
Aviation segment	$	1,656.3	$	1,635.4
Marine segment		1,349.1		1,483.1
Land segment		1,570.7		1,570.6
Corporate		211.9		190.9
	$	4,788.0	$	4,880.0

Significant Accounting Policies (Details) $ in Millions	3 Months Ended
Significant Accounting Policies (Details) $ in Millions	Mar. 31, 2015 USD ($)
Land Segment
Goodwill
Decrease in goodwill due to foreign currency translation adjustments	$ 5.9
Aviation Segment
Goodwill
Decrease in goodwill due to foreign currency translation adjustments	2.6
Marine segment
Goodwill
Decrease in goodwill due to foreign currency translation adjustments	0.8
2014 Acquisitions \| Land Segment
Goodwill
Increase (decrease) in goodwill	1.0
2014 Acquisitions \| Aviation Segment
Goodwill
Increase (decrease) in goodwill	$ (1.9)

Fair Value Measurements (Details) - USD ($) $ in Millions	Mar. 31, 2015	Dec. 31, 2014
Assets and liabilities measured at estimated fair value on a recurring basis
Derivative asset	$ 603.6	$ 695.3
Derivative liability	573.0	649.6
Total, inventories liability		22.9
Level 1
Assets and liabilities measured at estimated fair value on a recurring basis
Subtotal Assets	207.3	173.7
Subtotal Liabilities	339.2	306.4
Level 2
Assets and liabilities measured at estimated fair value on a recurring basis
Investments		2.2
Subtotal Assets	397.3	519.6
Inventories liability	5.8	22.9
Subtotal Liabilities	239.3	364.8
Level 3
Assets and liabilities measured at estimated fair value on a recurring basis
Subtotal Assets	1.3	4.2
Subtotal Liabilities	0.3	1.3
Cash surrender value of life insurance \| Level 2
Assets and liabilities measured at estimated fair value on a recurring basis
Investments	2.3
Fair value measured on recurring basis
Assets and liabilities measured at estimated fair value on a recurring basis
Investments		2.2
Subtotal Assets	605.9	697.5
Netting and collateral, asset	(356.1)	(380.0)
Total Assets	249.8	317.5
Inventories liability	5.8	22.9
Subtotal Liabilities	578.8	672.5
Netting and collateral, liability	(531.2)	(607.6)
Total, inventories liability	5.8
Total Liabilities	47.6	64.9
Fair value measured on recurring basis \| Level 3
Assets and liabilities measured at estimated fair value on a recurring basis
Debt	700.8	689.9
Notes receivable	8.2	7.0
Fair value measured on recurring basis \| Cash surrender value of life insurance
Assets and liabilities measured at estimated fair value on a recurring basis
Investments	2.3
Commodity contracts
Assets and liabilities measured at estimated fair value on a recurring basis
Total, derivative asset	235.0	305.5
Total, derivative liability	41.8	42.0
Commodity contracts \| Level 1
Assets and liabilities measured at estimated fair value on a recurring basis
Derivative asset	207.3	173.7
Derivative liability	339.2	306.4
Commodity contracts \| Level 2
Assets and liabilities measured at estimated fair value on a recurring basis
Derivative asset	377.4	495.6
Derivative liability	228.4	329.9
Commodity contracts \| Level 3
Assets and liabilities measured at estimated fair value on a recurring basis
Derivative asset	1.3	4.2
Derivative liability	0.3	1.3
Commodity contracts \| Fair value measured on recurring basis
Assets and liabilities measured at estimated fair value on a recurring basis
Derivative asset	586.0	673.5
Netting and collateral, derivative asset	(351.0)	(368.0)
Total, derivative asset	235.0	305.5
Derivative liability	567.9	637.6
Netting and collateral, derivative liability	(526.1)	(595.6)
Total, derivative liability	41.8	42.0
Foreign currency contracts
Assets and liabilities measured at estimated fair value on a recurring basis
Total, derivative asset	12.5	9.8
Foreign currency contracts \| Level 2
Assets and liabilities measured at estimated fair value on a recurring basis
Derivative asset	17.6	21.8
Derivative liability	5.1	12.0
Foreign currency contracts \| Fair value measured on recurring basis
Assets and liabilities measured at estimated fair value on a recurring basis
Derivative asset	17.6	21.8
Netting and collateral, derivative asset	(5.1)	(12.0)
Total, derivative asset	12.5	9.8
Derivative liability	5.1	12.0
Netting and collateral, derivative liability	$ (5.1)	$ (12.0)

Fair Value Measurements (Details 2) - USD ($) $ in Millions	Mar. 31, 2015	Dec. 31, 2014
Fair value measurement, additional disclosure
Cash collateral deposits held by financial counterparties	$ 257.4	$ 301.0
Cash collateral deposits held by financial counterparties, offset against liabilities	207.1	274.3
Cash collateral deposits held by financial counterparties, not offset	50.3	26.7
Cash collateral received from customers	32.0	46.7
Commodity contracts
Derivative instruments, at their respective fair value positions
Total net assets	235.0	305.5
Total net liabilities	41.8	42.0
Commodity contracts \| Other current assets
Derivative instruments, at their respective fair value positions
Total net assets	221.4	294.3
Commodity contracts \| Identifiable intangible and other non-current assets
Derivative instruments, at their respective fair value positions
Total net assets	13.6	11.2
Commodity contracts \| Accrued expenses and other current liabilities
Derivative instruments, at their respective fair value positions
Total net liabilities	39.3	41.3
Commodity contracts \| Other long-term liabilities
Derivative instruments, at their respective fair value positions
Total net liabilities	2.5	0.7
Foreign currency contracts
Derivative instruments, at their respective fair value positions
Total net assets	12.5	9.8
Foreign currency contracts \| Other current assets
Derivative instruments, at their respective fair value positions
Total net assets	11.5	9.3
Foreign currency contracts \| Identifiable intangible and other non-current assets
Derivative instruments, at their respective fair value positions
Total net assets	$ 1.0	$ 0.5

Fair Value Measurements (Details 3) - Commodity contracts $ in Millions	3 Months Ended
	Mar. 31, 2015 USD ($)
Revenue
Change in fair value of assets and liabilities measured on recurring basis, utilized Level 3 inputs
Beginning of Period	$ 4.2
Total Gains (Losses) Included in Earnings	0.8
Settlements	3.7
End of Period	1.3
Change in Unrealized Gains Relating to Assets (Liabilities) that are Held at end of Period	(0.4)
Cost of revenue.
Change in fair value of assets and liabilities measured on recurring basis, utilized Level 3 inputs
Beginning of Period	1.3
Total Gains (Losses) Included in Earnings	0.5
Settlements	0.5
End of Period	0.3
Change in Unrealized Gains Relating to Assets (Liabilities) that are Held at end of Period	$ 0.8

Derivatives (Details) - 3 months ended Mar. 31, 2015 € in Millions, £ in Millions, kr in Millions, bbl in Millions, R in Millions, $ in Millions, $ in Millions, $ in Millions, $ in Millions, $ in Millions, in Millions	NOK (kr) $ / bbl $ / £ $ / R $ / $ $ / $ / $ $ / $ $ / R$ $ / $ bbl	ZAR (R) $ / bbl $ / £ $ / R $ / $ $ / $ / $ $ / $ $ / R$ $ / $	RON ( ) $ / bbl $ / £ $ / R $ / $ $ / $ / $ $ / $ $ / R$ $ / $	MXN ($) $ / bbl $ / £ $ / R $ / $ $ / $ / $ $ / $ $ / R$ $ / $	GBP (£) $ / bbl $ / £ $ / R $ / $ $ / $ / $ $ / $ $ / R$ $ / $	EUR (€) $ / bbl $ / £ $ / R $ / $ $ / $ / $ $ / $ $ / R$ $ / $	CLP ($) $ / bbl $ / £ $ / R $ / $ $ / $ / $ $ / $ $ / R$ $ / $	CAD ($) $ / bbl $ / £ $ / R $ / $ $ / $ / $ $ / $ $ / R$ $ / $	AUD ($) $ / bbl $ / £ $ / R $ / $ $ / $ / $ $ / $ $ / R$ $ / $	USD ($) $ / bbl $ / £ $ / R $ / $ $ / $ / $ $ / $ $ / R$ $ / $
Derivatives designated as hedging instruments \| Fair value hedges \| Commodity contracts \| 2015
Derivative instruments, at their respective fair value positions
Notional value of commodity contracts \| bbl	4.4
Weighted Average Fixed Price \| $ / bbl	56.203	56.203	56.203	56.203	56.203	56.203	56.203	56.203	56.203	56.203
Weighted Average Mark-to-Market \| $ / bbl	1.500	1.500	1.500	1.500	1.500	1.500	1.500	1.500	1.500	1.500
Fair Value Amount										$ 6.6
Derivatives not designated as hedging instruments
Derivative instruments, at their respective fair value positions
Fair Value Amount										$ 24.0
Derivatives not designated as hedging instruments \| Commodity contracts \| Long \| 2015
Derivative instruments, at their respective fair value positions
Notional value of commodity contracts \| bbl	44.1
Weighted Average Fixed Price \| $ / bbl	54.721	54.721	54.721	54.721	54.721	54.721	54.721	54.721	54.721	54.721
Weighted Average Mark-to-Market \| $ / bbl	(9.880)	(9.880)	(9.880)	(9.880)	(9.880)	(9.880)	(9.880)	(9.880)	(9.880)	(9.880)
Fair Value Amount										$ (435.7)
Derivatives not designated as hedging instruments \| Commodity contracts \| Long \| 2016
Derivative instruments, at their respective fair value positions
Notional value of commodity contracts \| bbl	6.8
Weighted Average Fixed Price \| $ / bbl	49.795	49.795	49.795	49.795	49.795	49.795	49.795	49.795	49.795	49.795
Weighted Average Mark-to-Market \| $ / bbl	(5.382)	(5.382)	(5.382)	(5.382)	(5.382)	(5.382)	(5.382)	(5.382)	(5.382)	(5.382)
Fair Value Amount										$ (36.6)
Derivatives not designated as hedging instruments \| Commodity contracts \| Long \| 2017
Derivative instruments, at their respective fair value positions
Notional value of commodity contracts \| bbl	0.2
Weighted Average Fixed Price \| $ / bbl	39.786	39.786	39.786	39.786	39.786	39.786	39.786	39.786	39.786	39.786
Weighted Average Mark-to-Market \| $ / bbl	(5.000)	(5.000)	(5.000)	(5.000)	(5.000)	(5.000)	(5.000)	(5.000)	(5.000)	(5.000)
Fair Value Amount										$ (1.0)
Derivatives not designated as hedging instruments \| Commodity contracts \| Short \| 2015
Derivative instruments, at their respective fair value positions
Notional value of commodity contracts \| bbl	34.9
Weighted Average Fixed Price \| $ / bbl	70.043	70.043	70.043	70.043	70.043	70.043	70.043	70.043	70.043	70.043
Weighted Average Mark-to-Market \| $ / bbl	13.169	13.169	13.169	13.169	13.169	13.169	13.169	13.169	13.169	13.169
Fair Value Amount										$ 459.6
Derivatives not designated as hedging instruments \| Commodity contracts \| Short \| 2016
Derivative instruments, at their respective fair value positions
Notional value of commodity contracts \| bbl	4.3
Weighted Average Fixed Price \| $ / bbl	69.663	69.663	69.663	69.663	69.663	69.663	69.663	69.663	69.663	69.663
Weighted Average Mark-to-Market \| $ / bbl	5.512	5.512	5.512	5.512	5.512	5.512	5.512	5.512	5.512	5.512
Fair Value Amount										$ 23.7
Derivatives not designated as hedging instruments \| Commodity contracts \| Short \| 2017
Derivative instruments, at their respective fair value positions
Notional value of commodity contracts \| bbl	0.2
Weighted Average Fixed Price \| $ / bbl	42.019	42.019	42.019	42.019	42.019	42.019	42.019	42.019	42.019	42.019
Weighted Average Mark-to-Market \| $ / bbl	6.000	6.000	6.000	6.000	6.000	6.000	6.000	6.000	6.000	6.000
Fair Value Amount										$ 1.2
Derivatives not designated as hedging instruments \| Commodity contracts \| Short \| 2018
Derivative instruments, at their respective fair value positions
Notional value of commodity contracts \| bbl	0.1
Weighted Average Fixed Price \| $ / bbl	83.997	83.997	83.997	83.997	83.997	83.997	83.997	83.997	83.997	83.997
Weighted Average Mark-to-Market \| $ / bbl	3.000	3.000	3.000	3.000	3.000	3.000	3.000	3.000	3.000	3.000
Fair Value Amount										$ 0.3
Derivatives not designated as hedging instruments \| Foreign currency contracts \| 2015 \| AUD
Derivative instruments, at their respective fair value positions
Non-Designated, Notional amount of foreign currency contracts									$ 0.5
Weighted Average Mark-to-Market \| $ / $	0.200	0.200	0.200	0.200	0.200	0.200	0.200	0.200	0.200	0.200
Fair Value Amount										$ 0.1
Derivatives not designated as hedging instruments \| Foreign currency contracts \| 2015 \| AUD \| Weighted Average
Derivative instruments, at their respective fair value positions
Weighted Average Fixed Price \| $ / $	0.784	0.784	0.784	0.784	0.784	0.784	0.784	0.784	0.784	0.784
Derivatives not designated as hedging instruments \| Foreign currency contracts \| 2015 \| CAD
Derivative instruments, at their respective fair value positions
Non-Designated, Notional amount of foreign currency contracts								$ 27.9
Weighted Average Mark-to-Market \| $ / $	0.061	0.061	0.061	0.061	0.061	0.061	0.061	0.061	0.061	0.061
Fair Value Amount										$ 1.7
Derivatives not designated as hedging instruments \| Foreign currency contracts \| 2015 \| CAD \| Weighted Average
Derivative instruments, at their respective fair value positions
Weighted Average Fixed Price \| $ / $	1.239	1.239	1.239	1.239	1.239	1.239	1.239	1.239	1.239	1.239
Derivatives not designated as hedging instruments \| Foreign currency contracts \| 2015 \| DKK
Derivative instruments, at their respective fair value positions
Non-Designated, Notional amount of foreign currency contracts							$ 15.7
Weighted Average Mark-to-Market \| $ / R$	0.006	0.006	0.006	0.006	0.006	0.006	0.006	0.006	0.006	0.006
Fair Value Amount										$ 0.1
Derivatives not designated as hedging instruments \| Foreign currency contracts \| 2015 \| DKK \| Weighted Average
Derivative instruments, at their respective fair value positions
Weighted Average Fixed Price \| $ / R$	6.664	6.664	6.664	6.664	6.664	6.664	6.664	6.664	6.664	6.664
Derivatives not designated as hedging instruments \| Foreign currency contracts \| 2015 \| EUR
Derivative instruments, at their respective fair value positions
Non-Designated, Notional amount of foreign currency contracts \| €						€ 25.1
Weighted Average Mark-to-Market \| $ / $	0.124	0.124	0.124	0.124	0.124	0.124	0.124	0.124	0.124	0.124
Fair Value Amount										$ 3.1
Derivatives not designated as hedging instruments \| Foreign currency contracts \| 2015 \| EUR \| Weighted Average
Derivative instruments, at their respective fair value positions
Weighted Average Fixed Price \| $ / $	1.136	1.136	1.136	1.136	1.136	1.136	1.136	1.136	1.136	1.136
Derivatives not designated as hedging instruments \| Foreign currency contracts \| 2015 \| GBP
Derivative instruments, at their respective fair value positions
Non-Designated, Notional amount of foreign currency contracts \| £					£ 59.7
Weighted Average Mark-to-Market \| $ / $	0.090	0.090	0.090	0.090	0.090	0.090	0.090	0.090	0.090	0.090
Fair Value Amount										$ 5.4
Derivatives not designated as hedging instruments \| Foreign currency contracts \| 2015 \| GBP \| Weighted Average
Derivative instruments, at their respective fair value positions
Weighted Average Fixed Price \| $ / $	1.545	1.545	1.545	1.545	1.545	1.545	1.545	1.545	1.545	1.545
Derivatives not designated as hedging instruments \| Foreign currency contracts \| 2015 \| MXN
Derivative instruments, at their respective fair value positions
Non-Designated, Notional amount of foreign currency contracts				$ 123.8
Weighted Average Mark-to-Market \| $ /	(0.002)	(0.002)	(0.002)	(0.002)	(0.002)	(0.002)	(0.002)	(0.002)	(0.002)	(0.002)
Fair Value Amount										$ (0.2)
Derivatives not designated as hedging instruments \| Foreign currency contracts \| 2015 \| MXN \| Weighted Average
Derivative instruments, at their respective fair value positions
Weighted Average Fixed Price \| $ /	15.004	15.004	15.004	15.004	15.004	15.004	15.004	15.004	15.004	15.004
Derivatives not designated as hedging instruments \| Foreign currency contracts \| 2015 \| RON
Derivative instruments, at their respective fair value positions
Non-Designated, Notional amount of foreign currency contracts \|			35.3
Weighted Average Mark-to-Market \| $ / $	0.017	0.017	0.017	0.017	0.017	0.017	0.017	0.017	0.017	0.017
Fair Value Amount										$ 0.6
Derivatives not designated as hedging instruments \| Foreign currency contracts \| 2015 \| RON \| Weighted Average
Derivative instruments, at their respective fair value positions
Weighted Average Fixed Price \| $ / $	3.943	3.943	3.943	3.943	3.943	3.943	3.943	3.943	3.943	3.943
Derivatives not designated as hedging instruments \| Foreign currency contracts \| 2015 \| ZAR
Derivative instruments, at their respective fair value positions
Non-Designated, Notional amount of foreign currency contracts \| R		R 53.8
Weighted Average Mark-to-Market \| $ / R	0.002	0.002	0.002	0.002	0.002	0.002	0.002	0.002	0.002	0.002
Fair Value Amount										$ 0.1
Derivatives not designated as hedging instruments \| Foreign currency contracts \| 2015 \| ZAR \| Weighted Average
Derivative instruments, at their respective fair value positions
Weighted Average Fixed Price \| $ / R	11.935	11.935	11.935	11.935	11.935	11.935	11.935	11.935	11.935	11.935
Derivatives not designated as hedging instruments \| Foreign currency contracts \| 2016 \| GBP
Derivative instruments, at their respective fair value positions
Non-Designated, Notional amount of foreign currency contracts \| £					£ 21.7
Weighted Average Mark-to-Market \| $ / R	0.065	0.065	0.065	0.065	0.065	0.065	0.065	0.065	0.065	0.065
Fair Value Amount										$ 1.4
Derivatives not designated as hedging instruments \| Foreign currency contracts \| 2016 \| GBP \| Weighted Average
Derivative instruments, at their respective fair value positions
Weighted Average Fixed Price \| $ / R	1.554	1.554	1.554	1.554	1.554	1.554	1.554	1.554	1.554	1.554
Derivatives not designated as hedging instruments \| Foreign currency contracts \| 2017 \| GBP
Derivative instruments, at their respective fair value positions
Non-Designated, Notional amount of foreign currency contracts \| kr	kr 1.4
Weighted Average Mark-to-Market \| $ / £	0.143	0.143	0.143	0.143	0.143	0.143	0.143	0.143	0.143	0.143
Fair Value Amount										$ 0.2
Derivatives not designated as hedging instruments \| Foreign currency contracts \| 2017 \| GBP \| Weighted Average
Derivative instruments, at their respective fair value positions
Weighted Average Fixed Price \| $ / £	1.610	1.610	1.610	1.610	1.610	1.610	1.610	1.610	1.610	1.610

Derivatives (Details 2) - USD ($) $ in Millions	Mar. 31, 2015	Dec. 31, 2014
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Derivative asset	$ 603.6	$ 695.3
Derivative liability	573.0	649.6
Derivative, credit-risk related contingent features
Net liability position	73.3	111.7
Collateral posted	57.5	89.4
Additional assets required to be posted should credit-risk contingent feature be triggered	15.8	22.3
Derivatives designated as hedging instruments
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Derivative asset	11.8	23.5
Derivative liability	5.2	1.7
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 asset	9.0	18.8
Derivative liability	4.8	1.0
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 asset	2.8	4.7
Derivative liability	0.4	0.7
Derivatives not designated as hedging instruments
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Derivative asset	591.8	671.8
Derivative liability	567.8	647.9
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 asset	355.3	399.0
Derivative liability	106.1	76.0
Derivatives not designated as hedging instruments \| Commodity contracts \| Identifiable intangible and other non-current assets
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Derivative asset	14.1	12.1
Derivative liability	0.5	0.6
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 asset	198.8	234.1
Derivative liability	439.0	530.0
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 asset	6.0	4.8
Derivative liability	17.1	29.3
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 asset	16.6	21.3
Derivative liability	5.1	12.0
Derivatives not designated as hedging instruments \| Foreign currency contracts \| Identifiable intangible and other non-current assets
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Derivative asset	$ 1.0	$ 0.5

Derivatives (Details 3) - USD ($) $ in Thousands	3 Months Ended
Derivatives (Details 3) - USD ($) $ in Thousands	Mar. 31, 2015	Mar. 31, 2014
Gain (loss) on derivative
Gains or losses that were excluded from the assessment of the effectiveness of fair value hedges	$ 0	$ 0
Derivatives designated as hedging instruments \| Fair value hedges \| Commodity contracts \| Cost of revenue.
Gain (loss) on derivative
Realized and Unrealized Gain (Loss) on Hedge	4,000	400
Realized and Unrealized Gain (Loss) on Hedged Item	(500)	(7,600)
Derivatives not designated as hedging instruments
Gain (loss) on derivative
Realized and Unrealized Gain (Loss)	22,000	15,500
Derivatives not designated as hedging instruments \| Commodity contracts \| Revenue
Gain (loss) on derivative
Realized and Unrealized Gain (Loss)	20,600	6,900
Derivatives not designated as hedging instruments \| Commodity contracts \| Cost of revenue.
Gain (loss) on derivative
Realized and Unrealized Gain (Loss)	(11,700)	9,600
Derivatives not designated as hedging instruments \| Foreign currency contracts \| Revenue
Gain (loss) on derivative
Realized and Unrealized Gain (Loss)	3,900	(300)
Derivatives not designated as hedging instruments \| Foreign currency contracts \| Other income (expense), net
Gain (loss) on derivative
Realized and Unrealized Gain (Loss)	$ 9,200	$ (700)

Interest Income, Expense and Other Financing Costs (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Interest Income, Expense and Other Financing Costs
Interest income	$ 1.2	$ 1.6
Interest expense and other financing costs	(8.5)	(6.0)
Interest expense and other financing costs, net	$ (7.3)	$ (4.4)

Commitments and Contingencies (Details) - USD ($) $ in Millions	Mar. 31, 2015	Dec. 31, 2014
Legal Matters
Estimated amount recoverable due to theft of fuel product		$ 18.0
Derailment of freight train
Legal Matters
Liabilities recorded based on estimated losses	$ 42.2
Receivables for portion of liability recoverable from insurance	39.1
Derailment of freight train \| Accrued expenses and other current liabilities
Legal Matters
Liabilities recorded based on estimated losses	16.3
Derailment of freight train \| Other current assets
Legal Matters
Receivables for portion of liability recoverable from insurance	$ 29.4

Commitments and Contingencies (Details 2) - USD ($) $ in Millions	Mar. 16, 2015	Mar. 31, 2015
Termination of Employment Agreement
Charges in connection with termination of employment agreement	$ 3.0
Non-cash expenses related to stock award compensation	$ 0.8
Accrued expenses and other current liabilities
Termination of Employment Agreement
Unpaid amout of cash portion of charges related to termination of employment agreement		$ 1.0
Other long-term liabilities
Termination of Employment Agreement
Unpaid amout of cash portion of charges related to termination of employment agreement		$ 2.0

Other Comprehensive Income and Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Accumulated other comprehensive loss
Balance at the beginning of the period	$ (60.2)
Other comprehensive loss	(33.8)	$ 3.5
Balance at the end of the period	(96.2)
Foreign Currency Translation Adjustments
Accumulated other comprehensive loss
Balance at the beginning of the period	(60.2)	(29.3)
Other comprehensive loss	(33.8)	3.5
Less Net other comprehensive income attributable to noncontrolling interest	2.2
Balance at the end of the period	$ (96.2)	$ (25.8)

- Definition

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References + Details

Income Taxes (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Income Taxes
Income tax provision	$ 9.9	$ 11.3
Effective income tax rate (as a percent)	15.30%	18.30%
Decrease in foreign income taxes due to special income tax concession in Singapore	$ 2.3	$ 1.9
Impact of income tax concession on basic earnings per common share (in dollars per share)	$ 0.03	$ 0.03
Impact of income tax concession on diluted earnings per common share (in dollars per share)	$ 0.03	$ 0.03

Earnings per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Numerator:
Net income attributable to World Fuel	$ 55.6	$ 50.7
Denominator:
Weighted average common shares for basic earnings per common share	70.7	70.7
Effect of dilutive securities (in shares)	0.7	0.7
Weighted average common shares for diluted earnings per common share	71.4	71.4
Weighted average securities which are not included in the calculation of diluted earnings per common share (in shares)	0.9	0.5
Basic earnings per common share (in dollars per share)	$ 0.79	$ 0.72
Diluted earnings per common share (in dollars per share)	$ 0.78	$ 0.71

- 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

Business Segments (Details) $ in Millions	3 Months Ended
Business Segments (Details) $ in Millions	Mar. 31, 2015 USD ($) item	Mar. 31, 2014 USD ($)
Business Segments
Number of reportable operating business segments \| item	3
Revenue:
Total revenue	$ 7,340.7	$ 10,550.9
Gross profit:
Gross profit	215.4	188.0
Income from operations:
Income from operations	71.5	64.3
Aviation Segment
Revenue:
Total revenue	2,897.0	4,249.8
Gross profit:
Gross profit	82.9	68.9
Marine segment
Revenue:
Total revenue	2,320.7	3,480.2
Gross profit:
Gross profit	53.9	47.8
Land Segment
Revenue:
Total revenue	2,123.0	2,820.9
Gross profit:
Gross profit	78.6	71.3
Operating Segments
Income from operations:
Income from operations	85.7	77.6
Operating Segments \| Aviation Segment
Income from operations:
Income from operations	27.8	30.1
Operating Segments \| Marine segment
Income from operations:
Income from operations	26.1	21.0
Operating Segments \| Land Segment
Income from operations:
Income from operations	31.8	26.5
Corporate
Income from operations:
Income from operations	$ 14.2	$ 13.3

Business Segments (Details 2) - USD ($) $ in Millions	Mar. 31, 2015	Dec. 31, 2014
Accounts receivable, net:
Accounts receivable, net	$ 2,202.3	$ 2,307.9
Total assets:
Total assets	4,788.0	4,880.0
Aviation Segment
Accounts receivable, net:
Accounts receivable, net	653.2	686.5
Allowance for bad debt	7.2	7.9
Marine segment
Accounts receivable, net:
Accounts receivable, net	870.6	974.0
Allowance for bad debt	8.4	8.4
Land Segment
Accounts receivable, net:
Accounts receivable, net	678.5	647.4
Allowance for bad debt	9.7	9.4
Operating Segments \| Aviation Segment
Total assets:
Total assets	1,656.3	1,635.4
Operating Segments \| Marine segment
Total assets:
Total assets	1,349.1	1,483.1
Operating Segments \| Land Segment
Total assets:
Total assets	1,570.7	1,570.6
Corporate
Total assets:
Total assets	$ 211.9	$ 190.9