View Filing Data

Print Document View Excel Document

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2019	Apr. 18, 2019
Document and Entity Information
Document Type	10-Q
Entity Registrant Name	WORLD FUEL SERVICES CORP
Entity Central Index Key	0000789460
Document Period End Date	Mar. 31, 2019
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Common Stock, Shares Outstanding (in shares)		67,251,473
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1

Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 194.0	$ 211.7
Accounts receivable, net	2,728.7	2,739.6
Inventories	598.7	523.1
Prepaid expenses	55.3	65.7
Short-term derivative assets, net	47.3	155.2
Other current assets	270.7	279.5
Total current assets	3,894.7	3,974.8
Property and equipment, net	356.1	350.3
Goodwill	853.3	852.7
Identifiable intangible and other non-current assets	629.1	499.0
Total assets	5,733.2	5,676.9
Current liabilities:
Current maturities of long-term debt and finance leases	45.8	41.1
Accounts payable	2,376.6	2,399.6
Customer deposits	93.5	118.2
Accrued expenses and other current liabilities	357.2	377.0
Total current liabilities	2,873.2	2,935.9
Long-term debt	649.7	659.9
Non-current income tax liabilities, net	190.6	194.6
Other long-term liabilities	164.0	54.9
Total liabilities	3,877.5	3,845.3
Commitments and contingencies
World Fuel shareholders' equity:
Preferred stock, $1.00 par value; 0.1 shares authorized, none issued	0.0	0.0
Common stock, $0.01 par value; 100.0 shares authorized, 67.1 and 67.0 issued and outstanding as of March 31, 2019 and December 31, 2018, respectively	0.7	0.7
Capital in excess of par value	343.0	340.4
Retained earnings	1,639.3	1,606.1
Accumulated other comprehensive loss	(142.7)	(131.7)
Total World Fuel shareholders' equity	1,840.3	1,815.4
Noncontrolling interest	15.5	16.1
Total equity	1,855.8	1,831.6
Total liabilities and equity	$ 5,733.2	$ 5,676.9

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 1	$ 1
Preferred stock, shares authorized (in shares)	100,000	100,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	67,100,000	67,000,000
Common stock, shares outstanding (in shares)	67,100,000	67,000,000

Consolidated Statements of Income and Comprehensive Income - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Statement [Abstract]
Revenue	$ 8,678.8	$ 9,181.3
Cost of revenue	8,427.7	8,937.9
Gross profit	251.1	243.4
Operating expenses:
Compensation and employee benefits	110.1	113.9
General and administrative	70.6	72.3
Total operating expenses	180.7	186.2
Income from operations	70.4	57.2
Non-operating expenses, net:
Interest expense and other financing costs, net	(19.4)	(16.3)
Other income (expense), net	0.4	(2.3)
Total non-operating expenses, net	(19.0)	(18.6)
Income (loss) before income taxes	51.3	38.6
Provision for income taxes	14.0	7.3
Net income (loss) including noncontrolling interest	37.3	31.3
Net income attributable to noncontrolling interest	0.1	0.1
Net income (loss) attributable to World Fuel	$ 37.2	$ 31.2
Basic earnings per common share (in dollars per share)	$ 0.55	$ 0.46
Basic weighted average common shares (in shares)	67.1	67.5
Diluted earnings per common share (in dollars per share)	$ 0.55	$ 0.46
Diluted weighted average common shares (in shares)	67.4	67.9
Comprehensive income:
Net income (loss) including noncontrolling interest	$ 37.3	$ 31.3
Other comprehensive income (loss):
Foreign currency translation adjustments	0.2	10.2
Cash flow hedges, net of income tax benefit of $4.1 and $4.2 for the three months ended March 31, 2019 and 2018, respectively	(11.9)	(9.7)
Other comprehensive income (loss)	(11.7)	0.5
Comprehensive income (loss) including noncontrolling interest	25.6	31.8
Comprehensive income (loss) attributable to noncontrolling interest	(0.8)	(0.3)
Comprehensive income (loss) attributable to World Fuel	$ 26.3	$ 32.1

Consolidated Statements of Income and Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Statement [Abstract]
Derivative instruments, income tax expense (benefit)	$ (4.1)	$ (4.2)

Consolidated Statements of Shareholders' Equity - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Capital in Excess of Par Value	Retained Earnings	Accumulated Other Comprehensive Loss	Total World Fuel Shareholders' Equity	Noncontrolling Interest Equity
Balance as of beginning of period at Dec. 31, 2017	$ 1,738.0	$ 0.7	$ 354.9	$ 1,492.8	$ (126.5)	$ 1,721.9	$ 16.0
Balance (in shares) at Dec. 31, 2017		67.7
Increase (Decrease) in Shareholders' Equity
Net income	31.3			31.2		31.2	0.1
Cash dividends declared	(4.0)			(4.0)		(4.0)
Amortization of share-based payment awards	4.2		4.2			4.2
Issuance (Cancellation) of common stock related to share-based payment awards	(0.3)		(0.3)			(0.3)
Purchases of common stock tendered by employees to satisfy the required withholding taxes related to share-based payment awards	(0.3)		(0.3)			(0.3)
Other comprehensive income (loss)	0.5				0.8	0.8	(0.3)
Reclassification of certain tax effects from U.S. Tax Reform	1.6			1.6		1.6
Balance as of end of period at Mar. 31, 2018	1,771.0	$ 0.7	358.6	1,521.6	(125.7)	1,755.1	15.9
Balance (in shares) at Mar. 31, 2018		67.7
Balance as of beginning of period at Dec. 31, 2018	$ 1,831.6	$ 0.7	340.4	1,606.1	(131.7)	1,815.4	16.1
Balance (in shares) at Dec. 31, 2018	67.0	67.0
Increase (Decrease) in Shareholders' Equity
Net income	$ 37.3			37.2		37.2	0.1
Cash dividends declared	(4.0)			(4.0)		(4.0)
Amortization of share-based payment awards	4.0		4.0			4.0
Issuance (Cancellation) of common stock related to share-based payment awards	0.0
Issuance (Cancellation) 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	(1.4)		(1.4)			(1.4)
Other comprehensive income (loss)	(11.7)				(11.0)	(11.0)	(0.8)
Balance as of end of period at Mar. 31, 2019	$ 1,855.8	$ 0.7	$ 343.0	$ 1,639.3	$ (142.7)	$ 1,840.3	$ 15.5
Balance (in shares) at Mar. 31, 2019	67.1	67.1

Consolidated Statements of Shareholders' Equity (Parenthetical) - USD ($) $ in Millions			3 Months Ended
	Apr. 12, 2019	Apr. 06, 2018	Mar. 31, 2019	Mar. 31, 2018
Cash dividends declared (in dollars per share)			$ 0.06	$ 0.06
Cash dividends declared			$ 4.0	$ 4.0
Cash dividends paid (in dollars per share)		$ 0.06
Dividends paid on common stock		$ 4.0	$ 4.0	$ 4.0
Subsequent Event
Cash dividends paid (in dollars per share)	$ 0.06
Dividends paid on common stock	$ 4.0

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash flows from operating activities:
Net income (loss) including noncontrolling interest	$ 37.3	$ 31.3
Adjustments to reconcile net income including noncontrolling interest to net cash provided by operating activities:
Depreciation and amortization	22.3	18.8
Provision for bad debt	2.4	1.8
Share-based payment award compensation costs	4.2	4.2
Deferred income tax benefit	(4.5)	(7.1)
Foreign currency losses, net	3.4	2.6
Other	8.2	0.7
Changes in assets and liabilities, net of acquisitions:
Accounts receivable, net (reduced by beneficial interests received in exchange for accounts receivables sold of $120.0 for the three months ended March 31, 2018)	11.2	(71.2)
Inventories	(83.4)	(84.8)
Prepaid expenses	8.7	6.1
Short-term derivative assets, net	164.2	(2.8)
Other current assets	27.3	(25.5)
Cash collateral with financial counterparties	(32.6)	21.2
Other non-current assets	27.3	(28.4)
Accounts payable	(10.9)	(50.9)
Customer deposits	(24.7)	(5.3)
Accrued expenses and other current liabilities	(103.2)	(30.2)
Non-current income tax, net and other long-term liabilities	(46.4)	(9.3)
Total adjustments	(26.5)	(260.1)
Net cash provided by (used in) operating activities	10.8	(228.8)
Cash flows from investing activities:
Cash receipts of retained beneficial interests in receivable sales	0.0	120.0
Acquisition of businesses, net of cash acquired	0.0	(22.0)
Capital expenditures	(21.8)	(15.4)
Other investing activities, net	3.3	3.6
Net cash (used in) provided by investing activities	(18.5)	86.1
Cash flows from financing activities:
Borrowings of debt	1,542.0	1,468.9
Repayments of debt	(1,547.5)	(1,545.1)
Dividends paid on common stock	(4.0)	(4.0)
Other financing activities, net	(1.4)	(0.5)
Net cash (used in) financing activities	(10.9)	(80.8)
Effect of exchange rate changes on cash and cash equivalents	0.9	4.1
Net (decrease) increase in cash and cash equivalents	(17.7)	(219.4)
Cash and cash equivalents, as of the beginning of the period	211.7	372.3
Cash and cash equivalents, as of the end of the period	$ 194.0	$ 152.9

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Supplemental Schedule of Noncash Investing and Financing Activities
Beneficial interest obtained in exchange for accounts receivable sold	$ 0.0	$ 120.0
Cash dividends declared, but not yet paid	$ 4.0	$ 4.0

Basis of Presentation and Significant Accounting Policies	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	Basis of Presentation and Significant Accounting Policies World Fuel Services Corporation (the “Company”) was incorporated in Florida in July 1984 and along with its consolidated subsidiaries is referred to collectively in this Quarterly Report on Form 10‑Q (“10-Q Report”) as “World Fuel,” “we,” “our” and “us.” We are a leading global fuel services company, principally engaged in the distribution of fuel and related products and services in the aviation, marine and land transportation industries. In recent years, we have expanded our product and service offerings to include energy advisory services and supply fulfillment with respect to natural gas and power and transaction and payment management solutions to commercial and industrial customers. Our intention is to become a leading global energy management company offering a full suite of energy advisory, management and fulfillment services and technology solutions across the energy product spectrum. We also seek to become a leading transaction and payment management company, offering payment management solutions to commercial and industrial customers, principally in the aviation, land and marine transportation industries. We prepared the consolidated financial statements following the requirements of the United States (“U.S.”) Securities and Exchange Commission (“SEC”) for interim reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by accounting principles generally accepted in the U.S. (“U.S. GAAP”) can be condensed or omitted. Revenues, expenses, assets and liabilities can vary during each quarter of the year. Therefore, the results and trends in these interim financial statements may not be representative of those for the full year. In our opinion, all adjustments necessary for a fair statement of the financial statements, which are of a normal and recurring nature, have been made for the interim periods reported. The information included in this 10-Q Report should be read in conjunction with the consolidated financial statements and accompanying notes included in our 2018 Annual Report on Form 10-K (“2018 10-K Report”). Certain amounts in the consolidated financial statements and associated notes may not add due to rounding. All percentages have been calculated using unrounded amounts. Our net income for the three months ending March 31, 2019 of $37.2 million, or $0.55 per diluted common share, includes a discrete tax benefit of $3.2 million with respect to a foreign tax filing and $3.4 million of operating income ($2.3 million after-tax), each of which should have been recognized in a prior period. Excluding these misstatements, which we have determined were not material to current or prior periods, our net income would have been $31.7 million, or $0.47 per diluted common share. There have been no significant changes, other than those related to the adopted new accounting standards below, in the Company's accounting policies from those disclosed in our 2018 10‑K Report. The significant accounting policies we use for quarterly financial reporting are disclosed in Note 1 of the “Notes to the Consolidated Financial Statements” included in our 2018 10‑K Report, and in the adopted accounting standards below. Adoption of New Accounting Standard Leases (Topic 842). In February 2016, ASU 2016-02 was issued. The primary objective of the new standard, which amends the existing lease guidance and adds additional disclosures, is to increase transparency and comparability among organizations by recognizing nearly all lease assets and lease liabilities on the balance sheet, including operating leases that under the prior standard were off-balance sheet. Topic 842 defines a lease as a contract that conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Control over the use of the identified asset means that the customer has the right to obtain substantially all of the economic benefits from the use of the asset and the right to direct the use of the asset. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018 (including interim periods within those periods) and early adoption is permitted. The Company adopted ASU 2016-02 in the first quarter of 2019 utilizing the modified retrospective transition method and applying the transition provisions at the effective date. We implemented the new standard using the package of practical expedients under the transition provisions that allows us not to reassess whether a contract contains a lease, how the lease is classified and if initial direct costs can be capitalized. For all the lessee arrangements, we have elected an accounting policy to combine non-lease components with the related lease components and treat the combined items as a lease for accounting purposes. Lastly, we have elected not to recognize the lease asset and related lease liability for leases with a lease term of 12 months or less. As of the date of implementation on January 1, 2019, the impact of the adoption of the new lease standard resulted in the recognition of the right of use assets of $167.3 million and lease liability of $173.6 million on the Company’s consolidated balance sheet. The difference between the right of use assets and lease liabilities is primarily the result of accrued lease payments and cumulative lease prepayments as well as the remaining balance of lease incentives received. Subsequent to adoption, the Company does not anticipate the impact on its results of operations and cash flows to be material. Accounting Standards Issued but Not Yet Adopted Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. In June 2016, ASU 2016-13 was issued. The amendments in this update will change how entities account for credit impairment from trade and other receivables, net investments arising from sales-type and direct financing leases, debt securities, purchased-credit impaired financial assets and other instruments in addition to loans. ASU 2018-19 issued in November 2018, clarifies that receivables arising from operating leases are not within the scope of Subtopic 326-20. For receivables and certain other instruments that are not measured at fair value, entities will be required to estimate expected credit losses. Under the expected loss model, an entity recognizes a loss upon initial recognition of the asset that reflects all future events that will lead to a loss being realized, regardless of whether it is probable that the future event will occur. The amendments in this update are effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted as of the fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. An entity will apply most of the amendments in this update using a modified-retrospective approach through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. We are currently evaluating the impact that the new standard would have on our consolidated financial statements and disclosures.

Accounts Receivable	3 Months Ended
Accounts Receivable	Mar. 31, 2019
Receivables [Abstract]
Accounts Receivable	Accounts Receivable We have receivables purchase agreements (“RPAs”) with Wells Fargo and Citibank that allow for the sale of up to an aggregate limit of $725.0 million of our accounts receivable. For the three months ended March 31, 2019 and 2018, cash payments to the owners of accounts receivable were $2.0 billion and $1.9 billion respectively, and cash proceeds from the sale of accounts receivable were $2.0 billion and $1.9 billion respectively. The fees and financing costs under the RPA were $5.8 million and $4.0 million for the three months ended March 31, 2019 and 2018, respectively. As of March 31, 2019 and December 31, 2018, our sold accounts receivable under the RPAs was $479.0 million and $508.2 million, respectively.

- Definition

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

+ References + Details

Acquisitions	3 Months Ended
Acquisitions	Mar. 31, 2019
Business Combinations [Abstract]
Acquisitions	Acquisitions 2018 Acquisitions During the first quarter of 2018, we completed one acquisition in the land segment. The financial position, results of operations and cash flows of the 2018 acquisition has been included in our consolidated financial statements since its date and did not have a material impact on our consolidated revenue and net income for the three months ended March 31, 2018.

Derivatives

3 Months Ended

Mar. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives

We enter into financial derivative contracts to mitigate the risk of market price fluctuations in aviation, land and marine fuel, to offer our customers fuel pricing alternatives to meet their needs and to mitigate the risk of fluctuations in foreign currency exchange rates. If the derivative instrument is not designated in a hedge relationship, changes in the estimated fair market value are recognized as a component of revenue, cost of revenue, or other income (expense) in the consolidated statements of income and comprehensive income.

Derivatives which qualify for hedge accounting may be designated as either a fair value or cash flow hedge. For our fair value hedges, changes in the estimated fair market value of the hedging instrument and the hedged item are recognized in the same line item as the underlying transaction type in the consolidated statements of income and comprehensive income. The gains or losses on derivative instruments designated as cash flow hedges of forecasted transactions are initially reported as a component of accumulated other comprehensive income (AOCI) and subsequently reclassified into earnings once the future transactions affect earnings. Cash flows for our hedging instruments are classified in the same category as the underlying hedged items. If for any reason hedge accounting is discontinued, then any cash flows subsequent to the date of discontinuance will be classified in a manner consistent with the nature of the instrument.

The following describes our derivative classifications:

Fair Value Hedges. Includes derivative contracts we hold to hedge the risk of changes in the price of our inventory.

Cash Flow Hedges. Includes certain derivative contracts we execute to mitigate the risk of price or foreign currency volatility in forecasted transactions.

Non-designated Derivatives. Includes derivatives we primarily transact to mitigate the risk of market price fluctuations in the form of swaps or futures contracts, certain forward fixed price purchase and sale contracts, and for portfolio optimization. In addition, non-designated derivatives are held to hedge the risk of currency rate fluctuations.

The following table presents the gross fair value of our derivative instruments and their locations on the consolidated balance sheets (in millions):



		Gross Derivative Assets				Gross Derivative Liabilities
		As of				As of
		March 31,		December 31,		March 31,		December 31,
		2019		2018		2019		2018
Derivative Instruments	Consolidated Balance Sheets location
Derivatives designated as hedging instruments
Commodity contracts	Short-term derivative assets, net	$	0.1	$	168.5	$	—	$	122.5
	Identifiable intangible and other non-current assets	—		19.7		—		9.6
	Accrued expenses and other current liabilities	111.0		0.1		123.9		—
Total derivatives designated as hedging instruments		$	111.1	$	188.2	$	123.9	$	132.2

Derivatives not designated as hedging instruments
Commodity contracts	Short-term derivative assets, net	$	65.4	$	537.6	$	18.5	$	429.0
	Identifiable intangible and other non-current assets	32.4		71.7		15.9		40.0
	Accrued expenses and other current liabilities	288.1		30.7		335.2		126.4
	Other long-term liabilities	27.7		12.9		38.2		40.4
		$	413.6	$	652.9	$	407.8	$	635.8

Foreign currency contracts	Short-term derivative assets, net	$	0.8	$	4.4	$	0.5	$	0.8
	Identifiable intangible and other non-current assets	0.1		0.1		—		—
	Accrued expenses and other current liabilities	1.6		0.1		2.1		0.4
		$	2.6	$	4.6	$	2.6	$	1.2
Total derivatives not designated as hedging instruments		$	416.2	$	657.5	$	410.4	$	637.0

Total derivatives		$	527.3	$	845.8	$	534.3	$	769.1

For information regarding our derivative instruments measured at fair value after netting and collateral see Note 7.

The following table summarizes the gross notional values of our commodity and foreign currency exchange derivative contracts used for risk management purposes that were outstanding as of March 31, 2019 (in millions):



	As of March 31,
Derivative Instruments	Units	2019
Commodity contracts
Long	BBL	104.7
Short	BBL	(96.4	)

Foreign currency exchange contracts
Sell U.S. dollar, buy other currencies	USD	(24.4	)
Buy U.S. dollar, sell other currencies	USD	255.5

As of March 31, 2019, and December 31, 2018, the following amounts were recorded on the consolidated balance sheets related to cumulative basis adjustments for fair value hedges (in millions):



Line item in the Consolidated Balance Sheets in which the hedged item is included	Carrying Amount of Hedged Asset/(Liabilities)				Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Asset/(Liabilities)
	As of				As of
	March 31, 2019		December 31, 2018		March 31, 2019		December 31, 2018
Inventory	$	45.0	$	44.7	$	1.6	$	(6.6	)

The following table presents the effect of fair value and cash flow hedges on income and expense line items in our Consolidated Statements of Income and Comprehensive Income (in millions):



		Location and Amount of Gain and (Loss) Recognized in Income on Fair Value and Cash Flow Hedging Relationships
		For the Three Months Ended
		March 31, 2019						March 31, 2018
		Revenue			Cost of Revenue			Revenue			Cost of Revenue
Total amounts of income and expense line items in which the effects of fair value or cash flow hedged are recorded		$	8,678.8		$	8,427.7		$	9,181.3		$	8,937.9
Gains or Loss on fair value hedge relationships
Commodity contracts
	Hedged Item	—			16.2			—			5.5
	Derivatives designated as hedging instruments	—			(13.5		)	—			(5.6		)
Gains or Loss on cash flow hedge relationships
Commodity contracts
	Amount of Gain (Loss) Reclassified from AOCI into Income	(3.8		)	(8.4		)	(3.6		)	18.2
Total amount of income and expense line items excluding the impact of hedges		$	8,682.6		$	8,422.1		$	9,184.9		$	8,956.0

For the three months ended March 31, 2019 and 2018, there were no gains or losses recognized in earnings related to our fair value or cash flow hedges that were excluded from the assessment of hedge effectiveness.

The following table presents the effect and financial statement location of our derivative instruments in cash flow hedging relationships on our accumulated other comprehensive income, Consolidated Statements of Income and Comprehensive Income (in millions):



Amount of Gain (Loss) Recognized in Accumulated Other Comprehensive Income	For the Three Months Ended						Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income	For the Three Months Ended
	March 31,							March 31,
Derivative Instruments	2019			2018			Location	2019			2018
Commodity contracts	$	(220.5	)	$	(2.3	)	Revenue	$	(3.8	)	$	(3.6	)
Commodity contracts	196.4			10.2			Cost of Revenue	(8.4		)	18.2
Foreign Currency contracts	—			(2.8		)	Other Income (expense) net	—			—
Total (Loss) Gain	$	(24.1	)	$	5.1		Total (Loss) Gain	$	(12.2	)	$	14.6

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):



Amount of Realized and Unrealized Gain (Loss)		For the Three Months Ended
			March 31,
Derivative Instruments - Non-designated	Location		2019			2018
Commodity contracts
	Revenue		$	75.0		$	47.6
	Cost of revenue		(65.9		)	(37.0		)
			$	9.1		$	10.6
Foreign currency contracts
	Revenue		$	(0.1	)	$	(0.6	)
	Other (expense), net		0.5			(2.8		)
			$	0.4		$	(3.4	)
Total Gain (Loss)			$	9.5		$	7.2

Credit-Risk-Related Contingent Features

We enter into derivative instrument contracts which may require us to provide collateral periodically. Certain derivative contracts contain credit-risk-related contingent clauses which are triggered by credit events. These credit events may include the requirement to provide additional collateral or the immediate settlement of the derivative instruments upon the occurrence of a credit downgrade or if certain defined financial ratios fall below an established threshold. The following table presents the potential collateral requirements for derivative liabilities with credit-risk-contingent features (in millions):



	Potential Collateral Requirements for Derivative Liabilities with Credit-Risk-Contingent Features
	As of March 31, 2019		As of December 31, 2018
Net derivatives liability positions with credit contingent features	$	2.6	$	7.2
Maximum potential collateral requirements	$	2.6	$	7.2

At March 31, 2019 and December 31, 2018, there was no collateral held by our counterparties on these derivative contracts with credit-risk-contingent features.

Goodwill

3 Months Ended

Mar. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

Goodwill arises because the purchase price paid for our acquisitions reflects numerous factors, including the strategic fit and expected synergies these acquisitions bring to our existing operations. Goodwill is recorded at fair value and is reviewed at least annually for impairment.

The following table provides the components of and changes in the carrying amount of goodwill (in millions):



	Aviation			Land		Total
Balance as of December 31, 2018	$	322.9		$	529.7	$	852.7
Additions	—			—		—
Foreign exchange and other adjustments	(1.2		)	1.9		0.7
Balance as of March 31, 2019	$	321.7		$	531.7	$	853.3

Debt, Interest Income, Expense and Other Finance Costs

3 Months Ended

Mar. 31, 2019

Debt, Interest Income, Expense and Other Finance Costs [Abstract]

Debt, Interest Income, Expense and Other Finance Costs

Our debt consisted of the following (in millions):



	As of
	March 31,		December 31,
	2019		2018
Credit Facility	$	170.0	$	170.0
Term Loans	506.4		514.8
Finance Leases	16.7		13.8
Other	2.4		2.3
Total debt	$	695.5	$	701.0
Current maturities of long-term debt and capital leases	$	45.8	$	41.1
Long-term debt	$	649.7	$	659.9

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



	For the Three Months Ended
	March 31,
	2019			2018
Interest income	$	1.1		$	0.6
Interest expense and other financing costs	(20.5		)	(16.9		)
	$	(19.4	)	$	(16.3	)

Fair Value Measurements

3 Months Ended

Mar. 31, 2019

Fair Value Disclosures [Abstract]

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. The carrying values of our debt and notes receivables approximate fair value since these instruments bear interest either at variable rates or fixed rates which are not significantly different from market rates. Based on the fair value hierarchy, our total debt of $0.7 billion and $0.7 billion as of March 31, 2019 and December 31, 2018, respectively, and our notes receivable of $27.3 million and $28.2 million as of March 31, 2019 and December 31, 2018, respectively, are categorized in Level 2.

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



	Fair Value Measurements as of March 31, 2019
		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total
Assets:
Commodities contracts		$	416.7	$	107.8	$	0.3	$	524.7
Foreign currency contracts		—		2.6		—		2.6
Cash surrender value of life insurance		—		6.7		—		6.7
Total assets at fair value		$	416.7	$	117.0	$	0.3	$	534.0

Liabilities:
Commodities contracts		$	427.2	$	104.4	$	0.2	$	531.7
Foreign currency contracts		—		2.6		—		2.6
Total liabilities at fair value		$	427.2	$	106.9	$	0.2	$	534.3

	Fair Value Measurements as of December 31, 2018
		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total
Assets:
Commodities contracts		$	585.6	$	254.6	$	0.9	$	841.2
Foreign currency contracts		—		4.6		—		4.6
Cash surrender value of life insurance		—		6.3		—		6.3
Total assets at fair value		$	585.6	$	265.6	$	0.9	$	852.1

Liabilities:
Commodities contracts		$	556.5	$	211.2	$	0.2	$	767.9
Foreign currency contracts		—		1.2		—		1.2
Total liabilities at fair value		$	556.5	$	212.4	$	0.2	$	769.1

There were no transfers between Level 1 and Level 2 during the periods presented. Additionally, the fair values of our commodity contracts measured using Level 3 inputs were not material at March 31, 2019 and December 31, 2018, respectively.

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 the 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.

The following tables summarize those commodity derivative balances subject to the right of offset as presented on our consolidated balance sheet. We have elected to offset the recognized fair value amounts for multiple derivative instruments executed with the same counterparty in our financial statements when a legal right of offset exists.



	Fair Value as of March 31, 2019
										Gross Amounts
		Gross Amounts		Gross Amounts		Net Amounts		Cash		without
		Recognized		Offset		Presented		Collateral		Right of Offset		Net Amounts
Assets:
Commodities contracts		$	524.7	$	462.8	$	61.9	$	3.3	$	—	$	58.6
Foreign currency contracts		2.6		2.2		0.4		—		—		0.4
Total assets at fair value		$	527.3	$	465.0	$	62.3	$	3.3	$	—	$	59.0

Liabilities:
Commodities contracts		$	531.7	$	462.8	$	68.9	$	14.2	$	—	$	54.8
Foreign currency contracts		2.6		2.2		0.4		—		—		0.4
Total liabilities at fair value		$	534.3	$	465.0	$	69.3	$	14.2	$	—	$	55.1



	Fair Value as of December 31, 2018
										Gross Amounts
		Gross Amounts		Gross Amounts		Net Amounts		Cash		without
		Recognized		Offset		Presented		Collateral		Right of Offset		Net Amounts
Assets:
Commodities contracts		$	841.2	$	646.0	$	195.1	$	3.0	$	—	$	192.1
Foreign currency contracts		4.6		0.9		3.7		—		—		3.7
Total assets at fair value		$	845.8	$	647.0	$	198.8	$	3.0	$	—	$	195.8

Liabilities:
Commodities contracts		$	767.9	$	646.0	$	121.9	$	—	$	—	$	121.9
Foreign currency contracts		1.2		0.9		0.3		—		—		0.3
Total liabilities at fair value		$	769.1	$	647.0	$	122.2	$	—	$	—	$	122.2

At March 31, 2019 and December 31, 2018, we did not present any amounts gross on our consolidated balance sheet where we had the right of offset.

Concentration of Credit Risk

The individual over-the-counter (OTC) counterparty exposure is managed within predetermined credit limits and includes the use of cash-call margins when appropriate, thereby reducing the risk of significant nonperformance. At March 31, 2019, none of our counterparties represented over 10% of our credit exposure to OTC derivative counterparties.

- 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

Income Taxes

3 Months Ended

Mar. 31, 2019

Income Tax Disclosure [Abstract]

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,
	2019			2018
Income tax provision	$	14.0		$	7.3

Effective income tax rate	27.3		%	19.0		%

Our provision for income taxes for the three months ended March 31, 2019 was $14.0 million, resulting in an effective income tax rate of 27.3%. The provision includes a $3.2 million discrete tax benefit that should have been recognized in a prior period

and which, together with certain other discrete tax items, resulted in a net income tax benefit of $2.8 million for the period. Without the $2.8 million in discrete items, the effective income tax rate would have been 32.8% for the three months ended March 31, 2019. See Note 1 - Basis of Presentation and Significant Accounting Policies for additional information.

Our provision for income taxes for the three months ended March 31, 2018 was $7.3 million resulting in an effective tax rate of 19%. Our provision for income taxes was adjusted for an income tax benefit of $4.9 million, net, for discrete items related to changes in estimates in uncertain tax positions, an adjustment for stock-based compensation, and changes in the valuation allowance in various jurisdictions. Without the $4.9 million in discrete items, the effective income tax rate would have been 31.7% for the three months ended March 31, 2018.

Our provision for income taxes for the three months ended March 31, 2019 and 2018 was calculated based on the estimated annual effective income tax rate for the 2019 and 2018 fiscal years. The actual effective income tax rate for the 2019 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 have various income tax returns under examination both in the U.S. and foreign jurisdictions. The most significant of these are in South Korea for the 2011 to 2014 tax years, Denmark for the 2013 to 2015 tax years and the U.S. for the 2013 to 2016 tax years. In 2016, the South Korean branch of one of our subsidiaries received income tax assessment notices for the years 2011 to 2014 totaling $9.9 million (KRW 11.3 billion). We believe that these assessments are without merit and are currently appealing the actions. In addition, during the quarter ended March 31, 2018, one of our Danish subsidiaries received an audit inquiry from the Danish tax authority relating to transfer pricing and related issues for the tax years 2013 to 2015. We have been responding to the request and related questions and in April 2019, we received a proposed tax adjustment for the 2013 tax year which is not material. We believe that the proposed adjustment is without merit and intend to defend our positions. Finally, in 2017, we received a notice of examination from the U.S. Internal Revenue Service for the 2013 to 2016 tax years and we are currently responding to the request.

An unfavorable resolution of one or more of the above matters could have a material adverse effect on our results of operations or cash flows in the quarter and year in which an adjustment is recorded or the tax is due or paid. As audits and examinations are still in process or we have not yet reached the final stages of the appeals process, the timing of the ultimate resolution and any payments that may be required for the above matters cannot be determined at this time.

Revenue from Contracts with Customers

3 Months Ended

Mar. 31, 2019

Revenue from Contract with Customer [Abstract]

Revenue from Contracts with Customers

Our contracts with customers primarily require us to deliver fuel and fuel-related products, while other arrangements require us to complete agreed-upon services. Revenue from the sale of fuel is recognized when our customers obtain control of the fuel, which is typically upon delivery of each promised gallon or barrel to an agreed-upon delivery point. We generally recognize revenue for services provided over the contract period when services have been performed based on our right to invoice for those services.

Our contracts may contain fixed or variable pricing (such as market or index-based pricing) or some combination of those. Within our land and aviation segments, contracts with customers may include multi-year sales contracts, which are priced at market-based indices and require minimum volume purchase commitments from our customers. The consideration expected from these contracts is considered variable due to the market-based pricing and the variability is not resolved until delivery is made to our customers. We have elected to apply the optional exemption from estimating and disclosing the variable consideration from our remaining performance obligations under these contracts.

We also have fixed price fuel and fuel-related product sale contracts with a contract term of less than one year (typically one month). For these contracts, we apply the optional exemption, to not disclose the amount of transaction price allocated to remaining performance obligations. We also apply this exemption to those contracts in which the right to consideration corresponds directly with the value to the customer of the entity's performance to date. In limited cases, we may have multi-period fixed price contracts. Because our long-term supply arrangements that exceed one year are typically based on market index prices as previously discussed, the transaction price associated with remaining performance obligations under multi-year fixed price fuel sale contracts are not significant.

The following table presents our revenues from contracts with customers disaggregated by major geographic areas we conduct business in. Prior period amounts have not been adjusted under the modified retrospective method (in millions).



	For the Three Months Ended
	March 31,
	2019		2018
Aviation	$	364.4	$	392.0
Land	4.8		1.1
Marine	708.9		799.6
Asia Pacific	$	1,078.1	$	1,192.7

Aviation	$	719.1	$	670.0
Land	640.5		679.8
Marine	654.7		637.4
EMEA	$	2,014.3	$	1,987.2

Aviation	$	545.7	$	490.2
Land	138.9		184.2
Marine	191.4		155.2
LATAM	$	876.0	$	829.7

Aviation	$	2,648.0	$	2,763.0
Land	1,634.4		1,958.3
Marine	334.5		279.9
North America	$	4,616.9	$	5,001.2

Other revenues (excluded from ASC 606)	$	93.5	$	170.6

	$	8,678.8	$	9,181.3

Other revenues (excluded from ASC 606) in the table above includes revenue from leases and other transactions that we account for following separate guidance. Our contract assets and liabilities balances, and the changes in these balances, were not material for the three months ended March 31, 2019.

The nature of the receivables related to revenue from contracts with customers and other revenue are substantially similar, given that they are generated from transactions with the same type of counterparties (e.g., separate fuel sales and storage lease with the same counterparty) and are entered into considering the same credit approval and monitoring procedures for all customers. As such, we believe the risk associated with the cash flows from the different types of receivables is not meaningful to separately disaggregate the accounts receivable balance presented on our Consolidated Balance Sheet. Furthermore, the contract assets and contract liabilities recognized by the Company were not material.

Business Segments

3 Months Ended

Mar. 31, 2019

Segment Reporting [Abstract]

Business Segments

We operate in three reportable segments consisting of aviation, land and marine. Corporate expenses are allocated to the segments based on usage, where possible, or on other factors according to the nature of the activity. Our operating segments are determined based on the different markets in which we provide products and services, which are defined primarily by the customers and the products and services provided to those customers. Accordingly, our aviation, land and marine segments are organized based on the specific markets their functional business components serve, which are primarily businesses and governmental customers operating in those respective markets.

In our aviation segment, we offer fuel and related products and services to major commercial airlines, second and third-tier airlines, cargo carriers, regional and low cost carriers, airports, fixed based operators, corporate fleets, fractional operators, private aircraft. In addition, we supply products and services to U.S. and foreign government, intergovernmental and military customers, such as the North Atlantic Treaty Organization (NATO) and the U.S. Defense Logistics Agency.

In our land segment, we offer fuel, lubricants, power and natural gas solutions through Kinect, our global energy management services platform, and related products and services to customers including petroleum distributors operating in the land transportation market, retail petroleum operators, and industrial, commercial, residential and government customers.

Our marine segment product and service offerings include fuel, lubricants and related products and services to a broad base of customers, including international container and tanker fleets, commercial cruise lines, yachts and time charter operators, offshore rig owners and operators, the U.S. and foreign governments as well as other fuel suppliers.

Within each of our segments, we may enter into derivative contracts to mitigate the risk of market price fluctuations and also to offer our customers fuel pricing alternatives to meet their needs.

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:	2019			2018
Aviation segment	$	4,252.7		$	4,292.9
Land segment	2,493.6			2,860.7
Marine segment	1,932.5			2,027.7
	$	8,678.8		$	9,181.3

Gross profit:
Aviation segment	$	114.3		$	110.0
Land segment	101.5			102.2
Marine segment	35.2			31.2
	$	251.1		$	243.4
Income from operations:
Aviation segment	$	55.6		$	47.8
Land segment	21.0			19.6
Marine segment	13.5			8.6
	90.1			75.9
Corporate overhead - unallocated	(19.7		)	(18.7		)
	$	70.4		$	57.2

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



	As of
	March 31,		December 31,
	2019		2018
Accounts receivable, net:
Aviation segment, net of allowance for bad debt of $13.5 and $17.7 as of March 31, 2019 and December 31, 2018, respectively	$	976.8	$	992.2
Land segment, net of allowance for bad debt of $2.7 and $2.7 as of March 31, 2019 and December 31, 2018, respectively	941.5		846.1
Marine segment, net of allowance for bad debt of $18.8 and $19.0 as of March 31, 2019 and December 31, 2018, respectively	810.4		901.2
	$	2,728.7	$	2,739.6
Total assets:
Aviation segment	$	2,283.7	$	2,261.0
Land segment	2,208.0		2,178.1
Marine segment	1,057.8		1,124.2
Corporate	183.8		113.6
	$	5,733.2	$	5,676.9

During each of the periods presented on the consolidated statements of income and comprehensive income, none of our customers accounted for more than 10% of total consolidated revenue. Sales to government customers, which principally consist of sales to NATO in support of military operations in Afghanistan, have accounted for a material portion of our profitability in recent years. The profitability associated with our government business can be significantly impacted by supply disruptions, border closures, road blockages, hostility-related product losses, inventory shortages and other logistical difficulties that can arise when sourcing and delivering fuel in areas that are actively engaged in war or other military conflicts. Our sales to government customers may fluctuate significantly from time to time as a result of the foregoing factors, as well as the level of troop deployments and related activity in a particular region or area or the commencement, extension, renewal or completion of existing and new government contracts. See "Item 1A - Risk Factors” of our 2018 10-K Report.

Earnings per Common Share

3 Months Ended

Mar. 31, 2019

Earnings Per Share [Abstract]

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,
	2019		2018
Numerator:
Net income attributable to World Fuel	$	37.2	$	31.2
Denominator:
Weighted average common shares for basic earnings per common share	67.1		67.5
Effect of dilutive securities	0.2		0.4
Weighted average common shares for diluted earnings per common share	67.4		67.9

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	2.0		1.3

Basic earnings per common share	$	0.55	$	0.46

Diluted earnings per common share	$	0.55	$	0.46

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Tax Matters From time to time, we are under review by various domestic and foreign tax authorities with regard to indirect tax matters and are involved in various challenges and litigation in a number of countries, including, in particular, Brazil and South Korea, where the amounts under controversy may be material. We believe that these assessments are without merit and are currently appealing the actions. During the quarter ended December 31, 2016, the South Korean branch of one of our subsidiaries received assessments of approximately $10.5 million (KRW 11.9 billion) and during the quarter ended June 30, 2017, an assessment for an additional $17.7 million (KRW 20.1 billion) from the regional tax authorities of Seoul, South Korea. The assessments primarily consist of fines and penalties for allegedly failing to issue Value Added Tax ("VAT") invoices and report certain transactions during the period 2011-2014. These assessments do not involve failure to pay or collect VAT. We believe that these assessments are without merit and are currently appealing the actions. We are also involved in a number of tax disputes with federal, state and municipal tax authorities in Brazil, relating primarily to a VAT tax known as "ICMS". These disputes are at various stages of the legal process, including the administrative review phase and the collection action phase, and include assessments of fixed amounts of principal and penalties, plus interest. One of our Brazilian subsidiaries is currently appealing an assessment from the Brazilian tax authorities relating to the ICMS rate used for certain transactions. The total amount of approximately $13.9 million (BRL 54.1 million) primarily consists of interest and penalties. We believe that the assessment is without merit and are pursuing our remedies in the judicial court system. When we deem it appropriate and the amounts are reasonably estimable, we establish reserves for potential adjustments to our provision for the accrual of indirect taxes that may result from examinations or other actions by tax authorities. If events occur which indicate payment of these amounts is unnecessary, the reversal of the liabilities would result in the recognition of benefits in the period we determine the liabilities are no longer necessary. If our estimates of any of our federal, state, and foreign indirect tax liabilities are less than the ultimate assessment, it could result in a further charge to expense. Except with respect to the matters described above, we believe that the final outcome of any pending examinations, agreements, administrative or judicial proceedings will not have a material effect on our results of operations or cash flows. Other Matters We are also 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, personal injury, 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, 2019, we had recorded certain reserves which were not material. 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.

Restructuring

3 Months Ended

Mar. 31, 2019

Restructuring and Related Activities [Abstract]

Restructuring

During the fourth quarter of 2017, we initiated an enterprise-wide restructuring plan that was designed to streamline the organization and reallocate resources to better align our organizational structure and costs with our strategy. While these activities are ongoing, we expect the majority of these activities to be completed in 2019. The restructuring plan involves reviewing non-core businesses and assets, our organizational structure, and expected business prospects in the markets we serve, as well as our existing technology platforms. Accordingly, based on the nature of the activities being reviewed, we cannot reasonably estimate the ultimate cost that will be incurred. We are currently assessing the strategic fit of certain international operations where it has become increasingly more challenging to conduct our core operations and generate profits.

For the three months ended March 31, 2019, we incurred $1.8 million in restructuring charges, comprised principally of employee-related costs and included in compensation and employee benefits in our consolidated statements of income and comprehensive income. Our accrued restructuring charges as of March 31, 2019, are included in accrued expenses and other current liabilities on our consolidated balance sheet.

The following table provides a summary of our restructuring activities during the three months ended March 31, 2019 (in millions):



	Aviation			Land			Marine			Corporate			Consolidated
Balance as of December 31, 2018	$	1.4		$	12.6		$	2.6		$	4.0		$	20.7
Restructuring-related costs	0.2			0.7			0.2			0.7			1.8
Paid during the period	(1.4		)	(5.2		)	(1.7		)	(3.6		)	(12.0		)
Restructuring charges as of March 31, 2019	$	0.2		$	8.1		$	1.1		$	1.1		$	10.5

Leases

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

Leases

We enter into lease arrangements for the use of offices, operational facilities, vehicles, vessels, storage tanks and other assets for our operations around the world. Some of these leases are embedded within other arrangements. When an arrangement includes both lease and non-lease components, we have elected to combine them and treat them as a lease component for all of our current leased asset classes.

Determining whether a contract contains a lease includes judgment regarding whether the contract conveys the right to control the use of identified property, plant, or equipment for a period of time in exchange for consideration. Assessing whether we have obtained the right to substantially all of the economic benefits and the ability to direct how, and for what purpose, the asset is used requires more judgment in storage arrangements where we must determine whether our rights to capacity may represent substantially all of the available capacity at a location.

Some of these arrangements are for periods of twelve months or less, while others are for longer periods, and may include optional renewals, terminations or purchase options, which are considered in our assessments when they are reasonably certain to occur. In addition, certain of these arrangements contain payments based on an index, market-based escalation or volume which may impact future payments. Most of our leases typically contain general covenants, restrictions or requirements such as maintaining minimum insurance coverage.

We account for our lease-related assets and liabilities based on their classification as operating leases or finance leases, following the relevant accounting guidance. We measure lease related assets and liabilities based on the present value of lease payments, including in-substance fixed payments, variable payments that depend on an index or rate measured at the commencement date, and the amount we believe is probable we will pay the lessor under residual value guarantees when applicable. We discount lease payments based on our estimated incremental borrowing rate at lease commencement (or modification), which is primarily based on our estimated credit rating, the lease term at commencement, and the contract currency of the lease arrangement. We have elected to exclude short term leases (leases with an original lease term less than one year) from the measurement of lease related assets and liabilities.

For the quarter ended March 31, 2019, we recognized the following related to our lease arrangements (in millions):



	For the Three Months Ended
	For March 31, 2019
Finance lease cost:
Amortization of right-of-use assets	$	1.3
Interest on lease liabilities	0.2
Operating lease cost	13.1
Short-term lease cost	4.5
Variable lease cost	3.6
Sublease income	(2.5		)
Total lease cost	$	20.2

As of March 31, 2019, our remaining lease payments were as follows (in millions):



	Operating Leases		Finance Leases
2019 (excluding the three months ended March 31, 2019)	$	36.1	$	3.2
2020	39.0		4.1
2021	31.5		3.2
2022	25.0		2.8
2023	20.2		2.2
Thereafter	59.6		3.3
Total remaining lease payments (undiscounted)	211.4		18.8
Less: imputed interest	39.5		2.1
Present value of lease liabilities	$	171.9	$	16.7

As of December 31, 2018, our future minimum lease payments under noncancelable operating leases were as follows (in millions)



Year Ended December 31,
2019	$	50.7
2020	37.1
2021	30.7
2022	23.7
2023	17.8
Thereafter	48.5
	$	208.6

Supplemental balance sheet information related to leases (in millions):



	Classification	As of March 31, 2019
Assets
Operating Lease Assets	Identifiable intangible and other non-current assets	$	165.7
Finance Lease Assets	Property and equipment, net	16.2

Liabilities
Operating Lease Liability - Current	Accrued expenses and other current liabilities	39.2
Operating Lease Liability - Long Term	Other long-term liabilities	132.7
Finance Lease Liability - Current	Current maturities of long-term debt and capital leases	3.7
Finance Lease Liability - Long Term	Long-term debt	13.0

Other information related to leases as of March 31, 2019:



	Operating Leases			Finance Leases
Weighted-average remaining lease term (years)	6.5			5.6
Weighted-average discount rate	6.0		%	2.7		%
Cash paid for amounts included in the measurement of lease liabilities (in millions):
Operating cash flows from finance leases	$	—		$	0.1
Operating cash flows from operating leases	13.3			—
Financing cash flows from finance leases	—			0.9
Right of use assets obtained in exchange for new operating lease liability (noncash in millions)	8.4			—

Leases

For the quarter ended March 31, 2019, we recognized the following related to our lease arrangements (in millions):



	For the Three Months Ended
	For March 31, 2019
Finance lease cost:
Amortization of right-of-use assets	$	1.3
Interest on lease liabilities	0.2
Operating lease cost	13.1
Short-term lease cost	4.5
Variable lease cost	3.6
Sublease income	(2.5		)
Total lease cost	$	20.2

As of March 31, 2019, our remaining lease payments were as follows (in millions):



	Operating Leases		Finance Leases
2019 (excluding the three months ended March 31, 2019)	$	36.1	$	3.2
2020	39.0		4.1
2021	31.5		3.2
2022	25.0		2.8
2023	20.2		2.2
Thereafter	59.6		3.3
Total remaining lease payments (undiscounted)	211.4		18.8
Less: imputed interest	39.5		2.1
Present value of lease liabilities	$	171.9	$	16.7

As of December 31, 2018, our future minimum lease payments under noncancelable operating leases were as follows (in millions)



Year Ended December 31,
2019	$	50.7
2020	37.1
2021	30.7
2022	23.7
2023	17.8
Thereafter	48.5
	$	208.6

Supplemental balance sheet information related to leases (in millions):



	Classification	As of March 31, 2019
Assets
Operating Lease Assets	Identifiable intangible and other non-current assets	$	165.7
Finance Lease Assets	Property and equipment, net	16.2

Liabilities
Operating Lease Liability - Current	Accrued expenses and other current liabilities	39.2
Operating Lease Liability - Long Term	Other long-term liabilities	132.7
Finance Lease Liability - Current	Current maturities of long-term debt and capital leases	3.7
Finance Lease Liability - Long Term	Long-term debt	13.0

Other information related to leases as of March 31, 2019:



	Operating Leases			Finance Leases
Weighted-average remaining lease term (years)	6.5			5.6
Weighted-average discount rate	6.0		%	2.7		%
Cash paid for amounts included in the measurement of lease liabilities (in millions):
Operating cash flows from finance leases	$	—		$	0.1
Operating cash flows from operating leases	13.3			—
Financing cash flows from finance leases	—			0.9
Right of use assets obtained in exchange for new operating lease liability (noncash in millions)	8.4			—

Basis of Presentation and Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Basis of Presentation	World Fuel Services Corporation (the “Company”) was incorporated in Florida in July 1984 and along with its consolidated subsidiaries is referred to collectively in this Quarterly Report on Form 10‑Q (“10-Q Report”) as “World Fuel,” “we,” “our” and “us.” We are a leading global fuel services company, principally engaged in the distribution of fuel and related products and services in the aviation, marine and land transportation industries. In recent years, we have expanded our product and service offerings to include energy advisory services and supply fulfillment with respect to natural gas and power and transaction and payment management solutions to commercial and industrial customers. Our intention is to become a leading global energy management company offering a full suite of energy advisory, management and fulfillment services and technology solutions across the energy product spectrum. We also seek to become a leading transaction and payment management company, offering payment management solutions to commercial and industrial customers, principally in the aviation, land and marine transportation industries. We prepared the consolidated financial statements following the requirements of the United States (“U.S.”) Securities and Exchange Commission (“SEC”) for interim reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by accounting principles generally accepted in the U.S. (“U.S. GAAP”) can be condensed or omitted.
Use of Estimates	Certain amounts in the consolidated financial statements and associated notes may not add due to rounding. All percentages have been calculated using unrounded amounts
Adoption of New Accounting Standard and Accounting Standards Issued but Not Yet Adopted	Adoption of New Accounting Standard Leases (Topic 842). In February 2016, ASU 2016-02 was issued. The primary objective of the new standard, which amends the existing lease guidance and adds additional disclosures, is to increase transparency and comparability among organizations by recognizing nearly all lease assets and lease liabilities on the balance sheet, including operating leases that under the prior standard were off-balance sheet. Topic 842 defines a lease as a contract that conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Control over the use of the identified asset means that the customer has the right to obtain substantially all of the economic benefits from the use of the asset and the right to direct the use of the asset. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018 (including interim periods within those periods) and early adoption is permitted. The Company adopted ASU 2016-02 in the first quarter of 2019 utilizing the modified retrospective transition method and applying the transition provisions at the effective date. We implemented the new standard using the package of practical expedients under the transition provisions that allows us not to reassess whether a contract contains a lease, how the lease is classified and if initial direct costs can be capitalized. For all the lessee arrangements, we have elected an accounting policy to combine non-lease components with the related lease components and treat the combined items as a lease for accounting purposes. Lastly, we have elected not to recognize the lease asset and related lease liability for leases with a lease term of 12 months or less. As of the date of implementation on January 1, 2019, the impact of the adoption of the new lease standard resulted in the recognition of the right of use assets of $167.3 million and lease liability of $173.6 million on the Company’s consolidated balance sheet. The difference between the right of use assets and lease liabilities is primarily the result of accrued lease payments and cumulative lease prepayments as well as the remaining balance of lease incentives received. Subsequent to adoption, the Company does not anticipate the impact on its results of operations and cash flows to be material. Accounting Standards Issued but Not Yet Adopted Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. In June 2016, ASU 2016-13 was issued. The amendments in this update will change how entities account for credit impairment from trade and other receivables, net investments arising from sales-type and direct financing leases, debt securities, purchased-credit impaired financial assets and other instruments in addition to loans. ASU 2018-19 issued in November 2018, clarifies that receivables arising from operating leases are not within the scope of Subtopic 326-20. For receivables and certain other instruments that are not measured at fair value, entities will be required to estimate expected credit losses. Under the expected loss model, an entity recognizes a loss upon initial recognition of the asset that reflects all future events that will lead to a loss being realized, regardless of whether it is probable that the future event will occur. The amendments in this update are effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted as of the fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. An entity will apply most of the amendments in this update using a modified-retrospective approach through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. We are currently evaluating the impact that the new standard would have on our consolidated financial statements and disclosures.
Revenue from Contracts with Customers	Our contracts with customers primarily require us to deliver fuel and fuel-related products, while other arrangements require us to complete agreed-upon services. Revenue from the sale of fuel is recognized when our customers obtain control of the fuel, which is typically upon delivery of each promised gallon or barrel to an agreed-upon delivery point. We generally recognize revenue for services provided over the contract period when services have been performed based on our right to invoice for those services. Our contracts may contain fixed or variable pricing (such as market or index-based pricing) or some combination of those. Within our land and aviation segments, contracts with customers may include multi-year sales contracts, which are priced at market-based indices and require minimum volume purchase commitments from our customers. The consideration expected from these contracts is considered variable due to the market-based pricing and the variability is not resolved until delivery is made to our customers. We have elected to apply the optional exemption from estimating and disclosing the variable consideration from our remaining performance obligations under these contracts. We also have fixed price fuel and fuel-related product sale contracts with a contract term of less than one year (typically one month). For these contracts, we apply the optional exemption, to not disclose the amount of transaction price allocated to remaining performance obligations. We also apply this exemption to those contracts in which the right to consideration corresponds directly with the value to the customer of the entity's performance to date. In limited cases, we may have multi-period fixed price contracts. Because our long-term supply arrangements that exceed one year are typically based on market index prices as previously discussed, the transaction price associated with remaining performance obligations under multi-year fixed price fuel sale contracts are not significant.
Leases	We enter into lease arrangements for the use of offices, operational facilities, vehicles, vessels, storage tanks and other assets for our operations around the world. Some of these leases are embedded within other arrangements. When an arrangement includes both lease and non-lease components, we have elected to combine them and treat them as a lease component for all of our current leased asset classes. Determining whether a contract contains a lease includes judgment regarding whether the contract conveys the right to control the use of identified property, plant, or equipment for a period of time in exchange for consideration. Assessing whether we have obtained the right to substantially all of the economic benefits and the ability to direct how, and for what purpose, the asset is used requires more judgment in storage arrangements where we must determine whether our rights to capacity may represent substantially all of the available capacity at a location. Some of these arrangements are for periods of twelve months or less, while others are for longer periods, and may include optional renewals, terminations or purchase options, which are considered in our assessments when they are reasonably certain to occur. In addition, certain of these arrangements contain payments based on an index, market-based escalation or volume which may impact future payments. Most of our leases typically contain general covenants, restrictions or requirements such as maintaining minimum insurance coverage. We account for our lease-related assets and liabilities based on their classification as operating leases or finance leases, following the relevant accounting guidance. We measure lease related assets and liabilities based on the present value of lease payments, including in-substance fixed payments, variable payments that depend on an index or rate measured at the commencement date, and the amount we believe is probable we will pay the lessor under residual value guarantees when applicable. We discount lease payments based on our estimated incremental borrowing rate at lease commencement (or modification), which is primarily based on our estimated credit rating, the lease term at commencement, and the contract currency of the lease arrangement. We have elected to exclude short term leases (leases with an original lease term less than one year) from the measurement of lease related assets and liabilities.

Derivatives (Tables)

3 Months Ended

Mar. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

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

The following table presents the gross fair value of our derivative instruments and their locations on the consolidated balance sheets (in millions):



		Gross Derivative Assets				Gross Derivative Liabilities
		As of				As of
		March 31,		December 31,		March 31,		December 31,
		2019		2018		2019		2018
Derivative Instruments	Consolidated Balance Sheets location
Derivatives designated as hedging instruments
Commodity contracts	Short-term derivative assets, net	$	0.1	$	168.5	$	—	$	122.5
	Identifiable intangible and other non-current assets	—		19.7		—		9.6
	Accrued expenses and other current liabilities	111.0		0.1		123.9		—
Total derivatives designated as hedging instruments		$	111.1	$	188.2	$	123.9	$	132.2

Derivatives not designated as hedging instruments
Commodity contracts	Short-term derivative assets, net	$	65.4	$	537.6	$	18.5	$	429.0
	Identifiable intangible and other non-current assets	32.4		71.7		15.9		40.0
	Accrued expenses and other current liabilities	288.1		30.7		335.2		126.4
	Other long-term liabilities	27.7		12.9		38.2		40.4
		$	413.6	$	652.9	$	407.8	$	635.8

Foreign currency contracts	Short-term derivative assets, net	$	0.8	$	4.4	$	0.5	$	0.8
	Identifiable intangible and other non-current assets	0.1		0.1		—		—
	Accrued expenses and other current liabilities	1.6		0.1		2.1		0.4
		$	2.6	$	4.6	$	2.6	$	1.2
Total derivatives not designated as hedging instruments		$	416.2	$	657.5	$	410.4	$	637.0

Total derivatives		$	527.3	$	845.8	$	534.3	$	769.1

Schedule of fair value positions of derivative instruments



	As of March 31,
Derivative Instruments	Units	2019
Commodity contracts
Long	BBL	104.7
Short	BBL	(96.4	)

Foreign currency exchange contracts
Sell U.S. dollar, buy other currencies	USD	(24.4	)
Buy U.S. dollar, sell other currencies	USD	255.5

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

As of March 31, 2019, and December 31, 2018, the following amounts were recorded on the consolidated balance sheets related to cumulative basis adjustments for fair value hedges (in millions):



Line item in the Consolidated Balance Sheets in which the hedged item is included	Carrying Amount of Hedged Asset/(Liabilities)				Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Asset/(Liabilities)
	As of				As of
	March 31, 2019		December 31, 2018		March 31, 2019		December 31, 2018
Inventory	$	45.0	$	44.7	$	1.6	$	(6.6	)

Effect of fair value and cash flow hedges on income and expense

The following table presents the effect of fair value and cash flow hedges on income and expense line items in our Consolidated Statements of Income and Comprehensive Income (in millions):



		Location and Amount of Gain and (Loss) Recognized in Income on Fair Value and Cash Flow Hedging Relationships
		For the Three Months Ended
		March 31, 2019						March 31, 2018
		Revenue			Cost of Revenue			Revenue			Cost of Revenue
Total amounts of income and expense line items in which the effects of fair value or cash flow hedged are recorded		$	8,678.8		$	8,427.7		$	9,181.3		$	8,937.9
Gains or Loss on fair value hedge relationships
Commodity contracts
	Hedged Item	—			16.2			—			5.5
	Derivatives designated as hedging instruments	—			(13.5		)	—			(5.6		)
Gains or Loss on cash flow hedge relationships
Commodity contracts
	Amount of Gain (Loss) Reclassified from AOCI into Income	(3.8		)	(8.4		)	(3.6		)	18.2
Total amount of income and expense line items excluding the impact of hedges		$	8,682.6		$	8,422.1		$	9,184.9		$	8,956.0

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



Amount of Gain (Loss) Recognized in Accumulated Other Comprehensive Income	For the Three Months Ended						Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income	For the Three Months Ended
	March 31,							March 31,
Derivative Instruments	2019			2018			Location	2019			2018
Commodity contracts	$	(220.5	)	$	(2.3	)	Revenue	$	(3.8	)	$	(3.6	)
Commodity contracts	196.4			10.2			Cost of Revenue	(8.4		)	18.2
Foreign Currency contracts	—			(2.8		)	Other Income (expense) net	—			—
Total (Loss) Gain	$	(24.1	)	$	5.1		Total (Loss) Gain	$	(12.2	)	$	14.6

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



Amount of Realized and Unrealized Gain (Loss)		For the Three Months Ended
			March 31,
Derivative Instruments - Non-designated	Location		2019			2018
Commodity contracts
	Revenue		$	75.0		$	47.6
	Cost of revenue		(65.9		)	(37.0		)
			$	9.1		$	10.6
Foreign currency contracts
	Revenue		$	(0.1	)	$	(0.6	)
	Other (expense), net		0.5			(2.8		)
			$	0.4		$	(3.4	)
Total Gain (Loss)			$	9.5		$	7.2

Schedule of potential collateral requirements for derivative liabilities

The following table presents the potential collateral requirements for derivative liabilities with credit-risk-contingent features (in millions):



	Potential Collateral Requirements for Derivative Liabilities with Credit-Risk-Contingent Features
	As of March 31, 2019		As of December 31, 2018
Net derivatives liability positions with credit contingent features	$	2.6	$	7.2
Maximum potential collateral requirements	$	2.6	$	7.2

- 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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624163-113959

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5580258-113959

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41620-113959

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579245-113959

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41638-113959

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41678-113959

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41641-113959

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-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

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579240-113959

+ Details

Goodwill (Tables)

3 Months Ended

Mar. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of changes in goodwill

The following table provides the components of and changes in the carrying amount of goodwill (in millions):



	Aviation			Land		Total
Balance as of December 31, 2018	$	322.9		$	529.7	$	852.7
Additions	—			—		—
Foreign exchange and other adjustments	(1.2		)	1.9		0.7
Balance as of March 31, 2019	$	321.7		$	531.7	$	853.3

Debt, Interest Income, Expense and Other Finance Costs (Tables)

3 Months Ended

Mar. 31, 2019

Debt, Interest Income, Expense and Other Finance Costs [Abstract]

Schedule of debt

Our debt consisted of the following (in millions):



	As of
	March 31,		December 31,
	2019		2018
Credit Facility	$	170.0	$	170.0
Term Loans	506.4		514.8
Finance Leases	16.7		13.8
Other	2.4		2.3
Total debt	$	695.5	$	701.0
Current maturities of long-term debt and capital leases	$	45.8	$	41.1
Long-term debt	$	649.7	$	659.9

Schedule of interest expense and other financing costs, net

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



	For the Three Months Ended
	March 31,
	2019			2018
Interest income	$	1.1		$	0.6
Interest expense and other financing costs	(20.5		)	(16.9		)
	$	(19.4	)	$	(16.3	)

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2019

Fair Value Disclosures [Abstract]

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

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



	Fair Value Measurements as of March 31, 2019
		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total
Assets:
Commodities contracts		$	416.7	$	107.8	$	0.3	$	524.7
Foreign currency contracts		—		2.6		—		2.6
Cash surrender value of life insurance		—		6.7		—		6.7
Total assets at fair value		$	416.7	$	117.0	$	0.3	$	534.0

Liabilities:
Commodities contracts		$	427.2	$	104.4	$	0.2	$	531.7
Foreign currency contracts		—		2.6		—		2.6
Total liabilities at fair value		$	427.2	$	106.9	$	0.2	$	534.3

	Fair Value Measurements as of December 31, 2018
		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total
Assets:
Commodities contracts		$	585.6	$	254.6	$	0.9	$	841.2
Foreign currency contracts		—		4.6		—		4.6
Cash surrender value of life insurance		—		6.3		—		6.3
Total assets at fair value		$	585.6	$	265.6	$	0.9	$	852.1

Liabilities:
Commodities contracts		$	556.5	$	211.2	$	0.2	$	767.9
Foreign currency contracts		—		1.2		—		1.2
Total liabilities at fair value		$	556.5	$	212.4	$	0.2	$	769.1

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



	Fair Value as of March 31, 2019
										Gross Amounts
		Gross Amounts		Gross Amounts		Net Amounts		Cash		without
		Recognized		Offset		Presented		Collateral		Right of Offset		Net Amounts
Assets:
Commodities contracts		$	524.7	$	462.8	$	61.9	$	3.3	$	—	$	58.6
Foreign currency contracts		2.6		2.2		0.4		—		—		0.4
Total assets at fair value		$	527.3	$	465.0	$	62.3	$	3.3	$	—	$	59.0

Liabilities:
Commodities contracts		$	531.7	$	462.8	$	68.9	$	14.2	$	—	$	54.8
Foreign currency contracts		2.6		2.2		0.4		—		—		0.4
Total liabilities at fair value		$	534.3	$	465.0	$	69.3	$	14.2	$	—	$	55.1



	Fair Value as of December 31, 2018
										Gross Amounts
		Gross Amounts		Gross Amounts		Net Amounts		Cash		without
		Recognized		Offset		Presented		Collateral		Right of Offset		Net Amounts
Assets:
Commodities contracts		$	841.2	$	646.0	$	195.1	$	3.0	$	—	$	192.1
Foreign currency contracts		4.6		0.9		3.7		—		—		3.7
Total assets at fair value		$	845.8	$	647.0	$	198.8	$	3.0	$	—	$	195.8

Liabilities:
Commodities contracts		$	767.9	$	646.0	$	121.9	$	—	$	—	$	121.9
Foreign currency contracts		1.2		0.9		0.3		—		—		0.3
Total liabilities at fair value		$	769.1	$	647.0	$	122.2	$	—	$	—	$	122.2

Income Taxes (Tables)

3 Months Ended

Mar. 31, 2019

Income Tax Disclosure [Abstract]

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

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,
	2019			2018
Income tax provision	$	14.0		$	7.3

Effective income tax rate	27.3		%	19.0		%

Revenue from Contracts with Customers (Tables)

3 Months Ended

Mar. 31, 2019

Revenue from Contract with Customer [Abstract]

Revenue disaggregated by major geographic areas



	For the Three Months Ended
	March 31,
	2019		2018
Aviation	$	364.4	$	392.0
Land	4.8		1.1
Marine	708.9		799.6
Asia Pacific	$	1,078.1	$	1,192.7

Aviation	$	719.1	$	670.0
Land	640.5		679.8
Marine	654.7		637.4
EMEA	$	2,014.3	$	1,987.2

Aviation	$	545.7	$	490.2
Land	138.9		184.2
Marine	191.4		155.2
LATAM	$	876.0	$	829.7

Aviation	$	2,648.0	$	2,763.0
Land	1,634.4		1,958.3
Marine	334.5		279.9
North America	$	4,616.9	$	5,001.2

Other revenues (excluded from ASC 606)	$	93.5	$	170.6

	$	8,678.8	$	9,181.3

Business Segments (Tables)

3 Months Ended

Mar. 31, 2019

Segment Reporting [Abstract]

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

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:	2019			2018
Aviation segment	$	4,252.7		$	4,292.9
Land segment	2,493.6			2,860.7
Marine segment	1,932.5			2,027.7
	$	8,678.8		$	9,181.3

Gross profit:
Aviation segment	$	114.3		$	110.0
Land segment	101.5			102.2
Marine segment	35.2			31.2
	$	251.1		$	243.4
Income from operations:
Aviation segment	$	55.6		$	47.8
Land segment	21.0			19.6
Marine segment	13.5			8.6
	90.1			75.9
Corporate overhead - unallocated	(19.7		)	(18.7		)
	$	70.4		$	57.2

Schedule of accounts receivable, net and total assets by segment

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



	As of
	March 31,		December 31,
	2019		2018
Accounts receivable, net:
Aviation segment, net of allowance for bad debt of $13.5 and $17.7 as of March 31, 2019 and December 31, 2018, respectively	$	976.8	$	992.2
Land segment, net of allowance for bad debt of $2.7 and $2.7 as of March 31, 2019 and December 31, 2018, respectively	941.5		846.1
Marine segment, net of allowance for bad debt of $18.8 and $19.0 as of March 31, 2019 and December 31, 2018, respectively	810.4		901.2
	$	2,728.7	$	2,739.6
Total assets:
Aviation segment	$	2,283.7	$	2,261.0
Land segment	2,208.0		2,178.1
Marine segment	1,057.8		1,124.2
Corporate	183.8		113.6
	$	5,733.2	$	5,676.9

Earnings per Common Share (Tables)

3 Months Ended

Mar. 31, 2019

Earnings Per Share [Abstract]

Computation of basic and diluted earnings per common share

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



	For the Three Months Ended
	March 31,
	2019		2018
Numerator:
Net income attributable to World Fuel	$	37.2	$	31.2
Denominator:
Weighted average common shares for basic earnings per common share	67.1		67.5
Effect of dilutive securities	0.2		0.4
Weighted average common shares for diluted earnings per common share	67.4		67.9

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	2.0		1.3

Basic earnings per common share	$	0.55	$	0.46

Diluted earnings per common share	$	0.55	$	0.46

Restructuring (Tables)

3 Months Ended

Mar. 31, 2019

Restructuring and Related Activities [Abstract]

Summary of restructuring activities included in accrued expenses other current liabilities

The following table provides a summary of our restructuring activities during the three months ended March 31, 2019 (in millions):



	Aviation			Land			Marine			Corporate			Consolidated
Balance as of December 31, 2018	$	1.4		$	12.6		$	2.6		$	4.0		$	20.7
Restructuring-related costs	0.2			0.7			0.2			0.7			1.8
Paid during the period	(1.4		)	(5.2		)	(1.7		)	(3.6		)	(12.0		)
Restructuring charges as of March 31, 2019	$	0.2		$	8.1		$	1.1		$	1.1		$	10.5

Leases (Tables)

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

Lease costs and other information related to leases

For the quarter ended March 31, 2019, we recognized the following related to our lease arrangements (in millions):



	For the Three Months Ended
	For March 31, 2019
Finance lease cost:
Amortization of right-of-use assets	$	1.3
Interest on lease liabilities	0.2
Operating lease cost	13.1
Short-term lease cost	4.5
Variable lease cost	3.6
Sublease income	(2.5		)
Total lease cost	$	20.2

Other information related to leases as of March 31, 2019:



	Operating Leases			Finance Leases
Weighted-average remaining lease term (years)	6.5			5.6
Weighted-average discount rate	6.0		%	2.7		%
Cash paid for amounts included in the measurement of lease liabilities (in millions):
Operating cash flows from finance leases	$	—		$	0.1
Operating cash flows from operating leases	13.3			—
Financing cash flows from finance leases	—			0.9
Right of use assets obtained in exchange for new operating lease liability (noncash in millions)	8.4			—

Remaining lease payments

As of March 31, 2019, our remaining lease payments were as follows (in millions):



	Operating Leases		Finance Leases
2019 (excluding the three months ended March 31, 2019)	$	36.1	$	3.2
2020	39.0		4.1
2021	31.5		3.2
2022	25.0		2.8
2023	20.2		2.2
Thereafter	59.6		3.3
Total remaining lease payments (undiscounted)	211.4		18.8
Less: imputed interest	39.5		2.1
Present value of lease liabilities	$	171.9	$	16.7

Remaining lease payments

As of March 31, 2019, our remaining lease payments were as follows (in millions):



	Operating Leases		Finance Leases
2019 (excluding the three months ended March 31, 2019)	$	36.1	$	3.2
2020	39.0		4.1
2021	31.5		3.2
2022	25.0		2.8
2023	20.2		2.2
Thereafter	59.6		3.3
Total remaining lease payments (undiscounted)	211.4		18.8
Less: imputed interest	39.5		2.1
Present value of lease liabilities	$	171.9	$	16.7

Future minimum lease payments under non-cancelable operating leases

As of December 31, 2018, our future minimum lease payments under noncancelable operating leases were as follows (in millions)



Year Ended December 31,
2019	$	50.7
2020	37.1
2021	30.7
2022	23.7
2023	17.8
Thereafter	48.5
	$	208.6

Supplemental balance sheet information related to leases

Supplemental balance sheet information related to leases (in millions):



	Classification	As of March 31, 2019
Assets
Operating Lease Assets	Identifiable intangible and other non-current assets	$	165.7
Finance Lease Assets	Property and equipment, net	16.2

Liabilities
Operating Lease Liability - Current	Accrued expenses and other current liabilities	39.2
Operating Lease Liability - Long Term	Other long-term liabilities	132.7
Finance Lease Liability - Current	Current maturities of long-term debt and capital leases	3.7
Finance Lease Liability - Long Term	Long-term debt	13.0

Basis of Presentation and Significant Accounting Policies (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Jan. 01, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net income attributable to World Fuel	$ 37.2	$ 31.2
Diluted earnings per common share (in dollars per share)	$ 0.55	$ 0.46
Discrete tax benefit	$ 2.8
Operating income	70.4	$ 57.2
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Right of use assets			$ 167.3
Lease liabilities			$ 173.6
Recognized from prior period
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating income	3.4
Operating income, after tax	2.3
Excluding errors
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net income attributable to World Fuel	$ 31.7
Diluted earnings per common share (in dollars per share)	$ 0.47
Discrete tax benefit	$ 3.2

Accounts Receivable (Details) - USD ($)	3 Months Ended		12 Months Ended
Accounts Receivable (Details) - USD ($)	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Receivables [Abstract]
Authorized amount of receivables sold under RPAs	$ 725,000,000.0
Accounts receivable sold under RPAs	2,000,000,000.0	$ 1,900,000,000
Cash proceeds from sale of accounts receivables	2,000,000,000.0	1,900,000,000
Fees and financing costs under the RPA	5,800,000	$ 4,000,000.0
Account receivable sold under the RPAs	$ 479,000,000.0		$ 508,200,000

Acquisitions - Narrative (Details)	3 Months Ended
Acquisitions - Narrative (Details)	Mar. 31, 2018 acquisition
Acquisitions 2018
Acquisitions
Number of businesses acquired	1

Derivatives - Gross Notional Values (Details) bbl in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2019 USD ($) bbl
Long \| Commodity contracts
Derivative instruments, at their respective fair value positions
Notional value of commodity contracts (in barrels) \| bbl	104.7
Long \| Foreign currency contracts \| USD
Derivative instruments, at their respective fair value positions
Notional amount of foreign currency exchange contracts \| $	$ 255.5
Short \| Commodity contracts
Derivative instruments, at their respective fair value positions
Notional value of commodity contracts (in barrels) \| bbl	96.4
Short \| Foreign currency contracts \| USD
Derivative instruments, at their respective fair value positions
Notional amount of foreign currency exchange contracts \| $	$ 24.4

Derivatives - Effect on Income (Details) - USD ($)	3 Months Ended
Derivatives - Effect on Income (Details) - USD ($)	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Gain (loss) on derivative
Carrying Amount of Hedged Asset/(Liabilities)	$ 45,000,000.0		$ 44,700,000
Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Asset/(Liabilities)	1,600,000		(6,600,000)
Revenue	8,678,800,000	$ 9,181,300,000
Cost of revenue	8,427,700,000	8,937,900,000
Gains or Loss on fair value hedge relationships
Gain (Loss) recognized in earnings related to fair value or cash flow hedges excluded from assessment of hedge effectiveness	0	0
Amount of Gain (Loss) Recognized in Accumulated Other Comprehensive Income	(24,100,000)	5,100,000
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income	(12,200,000)	14,600,000
Potential Collateral Requirements for Derivative Liabilities with Credit-Risk-Contingent Features
Net derivatives liability positions with credit contingent features	2,600,000		7,200,000
Maximum potential collateral requirements	2,600,000		7,200,000
Collateral posted and held by our counterparties	0		$ 0
Revenue
Gain (loss) on derivative
Revenue	8,678,800,000	9,181,300,000
Gains or Loss on fair value hedge relationships
Hedged Item	0	0
Derivatives designated as hedging instruments	0	0
Total amount of income and expense line items excluding the impact of hedges, Revenue	8,682,600,000	9,184,900,000
Cost of revenue
Gain (loss) on derivative
Cost of revenue	8,427,700,000	8,937,900,000
Gains or Loss on fair value hedge relationships
Hedged Item	16,200,000	5,500,000
Derivatives designated as hedging instruments	(13,500,000)	(5,600,000)
Total amount of income and expense line items excluding the impact of hedges, Cost of Revenue	8,422,100,000	8,956,000,000.0
Commodity contracts \| Revenue
Gains or Loss on fair value hedge relationships
Amount of Gain (Loss) Recognized in Accumulated Other Comprehensive Income	(220,500,000)	(2,300,000)
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income	(3,800,000)	(3,600,000)
Commodity contracts \| Cost of revenue
Gains or Loss on fair value hedge relationships
Amount of Gain (Loss) Recognized in Accumulated Other Comprehensive Income	196,400,000	10,200,000
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income	(8,400,000)	18,200,000
Foreign currency contracts \| Other Income (expense) net
Gains or Loss on fair value hedge relationships
Amount of Gain (Loss) Recognized in Accumulated Other Comprehensive Income	0	(2,800,000)
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income	0	0
Derivatives not designated as hedging instruments
Gains or Loss on fair value hedge relationships
Amount of Realized and Unrealized Gain (Loss)	9,500,000	7,200,000
Derivatives not designated as hedging instruments \| Commodity contracts
Gains or Loss on fair value hedge relationships
Amount of Realized and Unrealized Gain (Loss)	9,100,000	10,600,000
Derivatives not designated as hedging instruments \| Commodity contracts \| Revenue
Gains or Loss on fair value hedge relationships
Amount of Realized and Unrealized Gain (Loss)	75,000,000.0	47,600,000
Derivatives not designated as hedging instruments \| Commodity contracts \| Cost of revenue
Gains or Loss on fair value hedge relationships
Amount of Realized and Unrealized Gain (Loss)	(65,900,000)	(37,000,000.0)
Derivatives not designated as hedging instruments \| Foreign currency contracts
Gains or Loss on fair value hedge relationships
Amount of Realized and Unrealized Gain (Loss)	400,000	(3,400,000)
Derivatives not designated as hedging instruments \| Foreign currency contracts \| Revenue
Gains or Loss on fair value hedge relationships
Amount of Realized and Unrealized Gain (Loss)	(100,000)	(600,000)
Derivatives not designated as hedging instruments \| Foreign currency contracts \| Other Income (expense) net
Gains or Loss on fair value hedge relationships
Amount of Realized and Unrealized Gain (Loss)	500,000	(2,800,000)
Accumulated gain (loss), cash flow hedge, including noncontrolling interest \| Reclassification out of AOCI \| Revenue
Gain (loss) on derivative
Revenue	(3,800,000)	(3,600,000)
Accumulated gain (loss), cash flow hedge, including noncontrolling interest \| Reclassification out of AOCI \| Cost of revenue
Gain (loss) on derivative
Cost of revenue	$ (8,400,000)	$ 18,200,000

Goodwill - Goodwill (Details) $ in Millions	3 Months Ended
Goodwill - Goodwill (Details) $ in Millions	Mar. 31, 2019 USD ($)
Goodwill [Roll Forward]
Balance as of December 31, 2018	$ 852.7
Additions	0.0
Foreign exchange and other adjustments	0.7
Balance as of March 31, 2019	853.3
Aviation
Goodwill [Roll Forward]
Balance as of December 31, 2018	322.9
Additions	0.0
Foreign exchange and other adjustments	(1.2)
Balance as of March 31, 2019	321.7
Land
Goodwill [Roll Forward]
Balance as of December 31, 2018	529.7
Additions	0.0
Foreign exchange and other adjustments	1.9
Balance as of March 31, 2019	$ 531.7

Debt, Interest Income, Expense and Other Finance Costs - Schedule of Debt (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Finance Leases	$ 16.7
Finance Leases		$ 13.8
Total debt	695.5	701.0
Current maturities of long-term debt and finance leases	45.8	41.1
Long-term debt	649.7	659.9
Credit Facility
Debt Instrument [Line Items]
Long-term debt	170.0	170.0
Term Loans
Debt Instrument [Line Items]
Long-term debt	506.4	514.8
Other
Debt Instrument [Line Items]
Long-term debt	$ 2.4	$ 2.3

Debt, Interest Income, Expense and Other Finance Costs - Interest Income (Expense), and Other Financing Costs, net (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Debt, Interest Income, Expense and Other Finance Costs [Abstract]
Interest income	$ 1.1	$ 0.6
Interest expense and other financing costs	(20.5)	(16.9)
Interest income (expense) and other financing costs, net	$ (19.4)	$ (16.3)

Fair Value Measurements - Assets and Liabilities (Details) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Assets:
Derivative assets	$ 527,300,000	$ 845,800,000
Liabilities:
Derivative liabilities	534,300,000	769,100,000
Transfers from Level 1 to Level 2, assets	0	0
Transfers from Level 2 to Level 1, assets	0	0
Transfers from Level 1 to Level 2, liabilities	0	0
Transfers from Level 2 to Level 1, liabilities	0	0
Commodity contracts
Assets:
Derivative assets	524,700,000	841,200,000
Liabilities:
Derivative liabilities	531,700,000	767,900,000
Foreign currency contracts
Assets:
Derivative assets	2,600,000	4,600,000
Liabilities:
Derivative liabilities	2,600,000	1,200,000
Fair value measured on recurring basis
Assets:
Total assets at fair value	534,000,000.0	852,100,000
Liabilities:
Total liabilities at fair value	534,300,000	769,100,000
Fair value measured on recurring basis \| Cash surrender value of life insurance
Assets:
Cash surrender value of life insurance	6,700,000	6,300,000
Fair value measured on recurring basis \| Commodity contracts
Assets:
Derivative assets	524,700,000	841,200,000
Liabilities:
Derivative liabilities	531,700,000	767,900,000
Fair value measured on recurring basis \| Foreign currency contracts
Assets:
Derivative assets	2,600,000	4,600,000
Liabilities:
Derivative liabilities	2,600,000	1,200,000
Fair value measured on recurring basis \| Level 1 Inputs
Assets:
Total assets at fair value	416,700,000	585,600,000
Liabilities:
Total liabilities at fair value	427,200,000	556,500,000
Fair value measured on recurring basis \| Level 1 Inputs \| Cash surrender value of life insurance
Assets:
Cash surrender value of life insurance	0	0
Fair value measured on recurring basis \| Level 1 Inputs \| Commodity contracts
Assets:
Derivative assets	416,700,000	585,600,000
Liabilities:
Derivative liabilities	427,200,000	556,500,000
Fair value measured on recurring basis \| Level 1 Inputs \| Foreign currency contracts
Assets:
Derivative assets	0	0
Liabilities:
Derivative liabilities	0	0
Fair value measured on recurring basis \| Level 2 Inputs
Assets and liabilities measured at estimated fair value on a recurring basis
Debt	700,000,000	700,000,000
Notes receivable	27,300,000	28,200,000
Assets:
Total assets at fair value	117,000,000.0	265,600,000
Liabilities:
Total liabilities at fair value	106,900,000	212,400,000
Fair value measured on recurring basis \| Level 2 Inputs \| Cash surrender value of life insurance
Assets:
Cash surrender value of life insurance	6,700,000	6,300,000
Fair value measured on recurring basis \| Level 2 Inputs \| Commodity contracts
Assets:
Derivative assets	107,800,000	254,600,000
Liabilities:
Derivative liabilities	104,400,000	211,200,000
Fair value measured on recurring basis \| Level 2 Inputs \| Foreign currency contracts
Assets:
Derivative assets	2,600,000	4,600,000
Liabilities:
Derivative liabilities	2,600,000	1,200,000
Fair value measured on recurring basis \| Level 3 Inputs
Assets:
Total assets at fair value	300,000	900,000
Liabilities:
Total liabilities at fair value	200,000	200,000
Fair value measured on recurring basis \| Level 3 Inputs \| Cash surrender value of life insurance
Assets:
Cash surrender value of life insurance	0	0
Fair value measured on recurring basis \| Level 3 Inputs \| Commodity contracts
Assets:
Derivative assets	300,000	900,000
Liabilities:
Derivative liabilities	200,000	200,000
Fair value measured on recurring basis \| Level 3 Inputs \| Foreign currency contracts
Assets:
Derivative assets	0	0
Liabilities:
Derivative liabilities	$ 0	$ 0

Fair Value Measurements - Commodity and Foreign Currency Contracts (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Offsetting Assets [Line Items]
Gross Amounts Recognized	$ 527.3	$ 845.8
Gross Amounts Offset	465.0	647.0
Net Amounts Presented	62.3	198.8
Cash Collateral	3.3	3.0
Gross Amounts without Right of Offset	0.0	0.0
Net Amounts	59.0	195.8
Offsetting Liabilities [Line Items]
Gross Amounts Recognized	534.3	769.1
Gross Amounts Offset	465.0	647.0
Net Amounts Presented	69.3	122.2
Cash Collateral	14.2	0.0
Gross Amounts without Right of Offset	0.0	0.0
Net Amounts	55.1	122.2
Commodity contracts
Offsetting Assets [Line Items]
Gross Amounts Recognized	524.7	841.2
Gross Amounts Offset	462.8	646.0
Net Amounts Presented	61.9	195.1
Cash Collateral	3.3	3.0
Gross Amounts without Right of Offset	0.0	0.0
Net Amounts	58.6	192.1
Offsetting Liabilities [Line Items]
Gross Amounts Recognized	531.7	767.9
Gross Amounts Offset	462.8	646.0
Net Amounts Presented	68.9	121.9
Cash Collateral	14.2	0.0
Gross Amounts without Right of Offset	0.0	0.0
Net Amounts	54.8	121.9
Foreign currency contracts
Offsetting Assets [Line Items]
Gross Amounts Recognized	2.6	4.6
Gross Amounts Offset	2.2	0.9
Net Amounts Presented	0.4	3.7
Cash Collateral	0.0	0.0
Gross Amounts without Right of Offset	0.0	0.0
Net Amounts	0.4	3.7
Offsetting Liabilities [Line Items]
Gross Amounts Recognized	2.6	1.2
Gross Amounts Offset	2.2	0.9
Net Amounts Presented	0.4	0.3
Cash Collateral	0.0	0.0
Gross Amounts without Right of Offset	0.0	0.0
Net Amounts	$ 0.4	$ 0.3

Income Taxes (Details) $ in Millions, ₩ in Billions	3 Months Ended		12 Months Ended
Income Taxes (Details) $ in Millions, ₩ in Billions	Mar. 31, 2019 USD ($)	Mar. 31, 2018 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2018 KRW (₩)
Income Taxes [Line Items]
Income tax provision	$ 14.0	$ 7.3
Effective income tax rate	27.30%	19.00%
Adjustment for Income Tax Benefit, prior year foreign tax return	$ 2.8
Adjustment for Income Tax Benefit, changes in estimates in uncertain tax positions, an adjustment for stock-based compensation, and changes in valuation allowance		$ 4.9
Tax Authority, South Korea (SRTO)
Income Taxes [Line Items]
Income tax assessment notice, amount			$ 9.9	₩ 11.3
Pro forma
Income Taxes [Line Items]
Effective income tax rate	32.80%	31.70%
Adjustment for Income Tax Benefit, prior year foreign tax return	$ 3.2

Revenue from Contracts with Customers Revenue from Contracts with Customers (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Disaggregation of Revenue [Line Items]
Other revenues (excluded from ASC 606)	$ 93.5	$ 170.6
Revenue	8,678.8	9,181.3
Asia Pacific
Disaggregation of Revenue [Line Items]
Revenue, ASC 606	1,078.1	1,192.7
EMEA
Disaggregation of Revenue [Line Items]
Revenue, ASC 606	2,014.3	1,987.2
LATAM
Disaggregation of Revenue [Line Items]
Revenue, ASC 606	876.0	829.7
North America
Disaggregation of Revenue [Line Items]
Revenue, ASC 606	4,616.9	5,001.2
Aviation
Disaggregation of Revenue [Line Items]
Revenue	4,252.7	4,292.9
Aviation \| Asia Pacific
Disaggregation of Revenue [Line Items]
Revenue, ASC 606	364.4	392.0
Aviation \| EMEA
Disaggregation of Revenue [Line Items]
Revenue, ASC 606	719.1	670.0
Aviation \| LATAM
Disaggregation of Revenue [Line Items]
Revenue, ASC 606	545.7	490.2
Aviation \| North America
Disaggregation of Revenue [Line Items]
Revenue, ASC 606	2,648.0	2,763.0
Land
Disaggregation of Revenue [Line Items]
Revenue	2,493.6	2,860.7
Land \| Asia Pacific
Disaggregation of Revenue [Line Items]
Revenue, ASC 606	4.8	1.1
Land \| EMEA
Disaggregation of Revenue [Line Items]
Revenue, ASC 606	640.5	679.8
Land \| LATAM
Disaggregation of Revenue [Line Items]
Revenue, ASC 606	138.9	184.2
Land \| North America
Disaggregation of Revenue [Line Items]
Revenue, ASC 606	1,634.4	1,958.3
Marine
Disaggregation of Revenue [Line Items]
Revenue	1,932.5	2,027.7
Marine \| Asia Pacific
Disaggregation of Revenue [Line Items]
Revenue, ASC 606	708.9	799.6
Marine \| EMEA
Disaggregation of Revenue [Line Items]
Revenue, ASC 606	654.7	637.4
Marine \| LATAM
Disaggregation of Revenue [Line Items]
Revenue, ASC 606	191.4	155.2
Marine \| North America
Disaggregation of Revenue [Line Items]
Revenue, ASC 606	$ 334.5	$ 279.9

Business Segments - Income Statement Items (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019 USD ($) segment	Mar. 31, 2018 USD ($)
Information concerning revenue, gross profit and income from operations by segment
Number of reportable operating business segments \| segment	3
Revenue:
Revenue	$ 8,678.8	$ 9,181.3
Gross profit:
Gross profit	251.1	243.4
Income from operations:
Income from operations	70.4	57.2
Operating Segments
Income from operations:
Income from operations	90.1	75.9
Corporate
Income from operations:
Income from operations	(19.7)	(18.7)
Aviation segment
Revenue:
Revenue	4,252.7	4,292.9
Gross profit:
Gross profit	114.3	110.0
Aviation segment \| Operating Segments
Income from operations:
Income from operations	55.6	47.8
Land segment
Revenue:
Revenue	2,493.6	2,860.7
Gross profit:
Gross profit	101.5	102.2
Land segment \| Operating Segments
Income from operations:
Income from operations	21.0	19.6
Marine segment
Revenue:
Revenue	1,932.5	2,027.7
Gross profit:
Gross profit	35.2	31.2
Marine segment \| Operating Segments
Income from operations:
Income from operations	$ 13.5	$ 8.6

Business Segments - Balance Sheet Items (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Accounts receivable, net:
Accounts receivable, net	$ 2,728.7	$ 2,739.6
Total assets:
Total assets	5,733.2	5,676.9
Aviation segment
Accounts receivable, net:
Accounts receivable, net	976.8	992.2
Land segment
Accounts receivable, net:
Accounts receivable, net	941.5	846.1
Marine segment
Accounts receivable, net:
Accounts receivable, net	810.4	901.2
Operating Segments \| Aviation segment
Accounts receivable, net:
Allowance for bad debt	13.5	17.7
Total assets:
Total assets	2,283.7	2,261.0
Operating Segments \| Land segment
Accounts receivable, net:
Allowance for bad debt	2.7	2.7
Total assets:
Total assets	2,208.0	2,178.1
Operating Segments \| Marine segment
Accounts receivable, net:
Allowance for bad debt	18.8	19.0
Total assets:
Total assets	1,057.8	1,124.2
Corporate
Total assets:
Total assets	$ 183.8	$ 113.6

Earnings per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Numerator:
Net income attributable to World Fuel	$ 37.2	$ 31.2
Denominator:
Weighted average common shares for basic earnings per common share (in shares)	67.1	67.5
Effect of dilutive securities (in shares)	0.2	0.4
Weighted average common shares for diluted earnings per common share (in shares)	67.4	67.9
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 (in shares)	2.0	1.3
Basic earnings per common share (in dollars per share)	$ 0.55	$ 0.46
Diluted earnings per common share (in dollars per share)	$ 0.55	$ 0.46

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI http://asc.fasb.org/extlink&oid=114873790&loc=SL114874131-224263

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109260490&loc=d3e1337-109256

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=109256448&loc=d3e4984-109258

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-URI http://asc.fasb.org/extlink&oid=115205541&loc=SL114868664-224227

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=109260490&loc=d3e1252-109256

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-URI http://asc.fasb.org/extlink&oid=114873765&loc=SL114874048-224260

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=109260490&loc=SL5780133-109256

+ Details

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=109256448&loc=d3e4984-109258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=109260490&loc=d3e1252-109256

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-URI http://asc.fasb.org/extlink&oid=114873765&loc=SL114874048-224260

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109260490&loc=d3e1337-109256

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-URI http://asc.fasb.org/extlink&oid=115205541&loc=SL114868664-224227

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=109260490&loc=SL5780133-109256

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI http://asc.fasb.org/extlink&oid=114873790&loc=SL114874131-224263

+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Commitments and Contingencies (Details) R$ in Millions, $ in Millions, ₩ in Billions	Mar. 31, 2019 BRL (R$)	Mar. 31, 2019 USD ($)	Jun. 30, 2017 USD ($)	Jun. 30, 2017 KRW (₩)	Dec. 31, 2016 USD ($)	Dec. 31, 2016 KRW (₩)
Assessment
Loss Contingencies [Line Items]
Estimate of possible loss					$ 10.5	₩ 11.9
Additional Assessment
Loss Contingencies [Line Items]
Estimate of possible loss			$ 17.7	₩ 20.1
Federal, state and municipal tax authorities in Brazil \| Assessment
Loss Contingencies [Line Items]
Estimate of possible loss	R$ 54.1	$ 13.9

Restructuring (Details) $ in Millions	3 Months Ended
Restructuring (Details) $ in Millions	Mar. 31, 2019 USD ($)
Restructuring Reserve [Roll Forward]
Balance as of December 31, 2018	$ 20.7
Restructuring-related costs	1.8
Paid during the period	(12.0)
Restructuring charges as of March 31, 2019	10.5
Operating Segments \| Aviation
Restructuring Reserve [Roll Forward]
Balance as of December 31, 2018	1.4
Restructuring-related costs	0.2
Paid during the period	(1.4)
Restructuring charges as of March 31, 2019	0.2
Operating Segments \| Land
Restructuring Reserve [Roll Forward]
Balance as of December 31, 2018	12.6
Restructuring-related costs	0.7
Paid during the period	(5.2)
Restructuring charges as of March 31, 2019	8.1
Operating Segments \| Marine
Restructuring Reserve [Roll Forward]
Balance as of December 31, 2018	2.6
Restructuring-related costs	0.2
Paid during the period	(1.7)
Restructuring charges as of March 31, 2019	1.1
Corporate
Restructuring Reserve [Roll Forward]
Balance as of December 31, 2018	4.0
Restructuring-related costs	0.7
Paid during the period	(3.6)
Restructuring charges as of March 31, 2019	$ 1.1

Leases - Lease Cost (Details) $ in Millions	3 Months Ended
Leases - Lease Cost (Details) $ in Millions	Mar. 31, 2019 USD ($)
Finance lease cost:
Amortization of right-of-use assets	$ 1.3
Interest on lease liabilities	0.2
Operating lease cost	13.1
Short-term lease cost	4.5
Variable lease cost	3.6
Sublease income	(2.5)
Total lease cost	$ 20.2

Leases - Remaining Lease Payments (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Operating Leases
2019 (excluding the three months ended March 31, 2019)	$ 36.1
2020	39.0
2021	31.5
2022	25.0
2023	20.2
Thereafter	59.6
Total remaining lease payments (undiscounted)	211.4
Less: imputed interest	39.5
Present value of lease liabilities	171.9
Finance Leases
2019 (excluding the three months ended March 31, 2019)	3.2
2020	4.1
2021	3.2
2022	2.8
2023	2.2
Thereafter	3.3
Total remaining lease payments (undiscounted)	18.8
Less: imputed interest	2.1
Present value of lease liabilities	$ 16.7
Operating Leases, Before Adoption of 842
2019		$ 50.7
2020		37.1
2021		30.7
2022		23.7
2023		17.8
Thereafter		48.5
Total future minimum lease payments		$ 208.6

Leases - Supplemental Balance Sheet Information (Details) $ in Millions	Mar. 31, 2019 USD ($)
Assets
Operating Lease Assets	$ 165.7
Finance Lease Assets	16.2
Liabilities
Operating Lease Liability - Current	39.2
Operating Lease Liability - Long Term	132.7
Finance Lease Liability - Current	3.7
Finance Lease Liability - Long Term	$ 13.0

Leases - Other Information Related to Leases (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019 USD ($)
Operating Leases
Weighted-average remaining lease term (years)	6 years 6 months
Weighted-average discount rate	6.00%
Finance Leases
Weighted-average remaining lease term (years)	5 years 7 months 6 days
Weighted-average discount rate	2.70%
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	$ 0.1
Operating cash flows from operating leases	13.3
Cash paid for amounts included in the measurement of lease liabilities:
Financing cash flows from finance leases	0.9
Right of use assets obtained in exchange for new operating lease liability	$ 8.4

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2019	Apr. 18, 2019
Document and Entity Information
Document Type	10-Q
Entity Registrant Name	WORLD FUEL SERVICES CORP
Entity Central Index Key	0000789460
Document Period End Date	Mar. 31, 2019
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Common Stock, Shares Outstanding (in shares)		67,251,473
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1

Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 194.0	$ 211.7
Accounts receivable, net	2,728.7	2,739.6
Inventories	598.7	523.1
Prepaid expenses	55.3	65.7
Short-term derivative assets, net	47.3	155.2
Other current assets	270.7	279.5
Total current assets	3,894.7	3,974.8
Property and equipment, net	356.1	350.3
Goodwill	853.3	852.7
Identifiable intangible and other non-current assets	629.1	499.0
Total assets	5,733.2	5,676.9
Current liabilities:
Current maturities of long-term debt and finance leases	45.8	41.1
Accounts payable	2,376.6	2,399.6
Customer deposits	93.5	118.2
Accrued expenses and other current liabilities	357.2	377.0
Total current liabilities	2,873.2	2,935.9
Long-term debt	649.7	659.9
Non-current income tax liabilities, net	190.6	194.6
Other long-term liabilities	164.0	54.9
Total liabilities	3,877.5	3,845.3
Commitments and contingencies
World Fuel shareholders' equity:
Preferred stock, $1.00 par value; 0.1 shares authorized, none issued	0.0	0.0
Common stock, $0.01 par value; 100.0 shares authorized, 67.1 and 67.0 issued and outstanding as of March 31, 2019 and December 31, 2018, respectively	0.7	0.7
Capital in excess of par value	343.0	340.4
Retained earnings	1,639.3	1,606.1
Accumulated other comprehensive loss	(142.7)	(131.7)
Total World Fuel shareholders' equity	1,840.3	1,815.4
Noncontrolling interest	15.5	16.1
Total equity	1,855.8	1,831.6
Total liabilities and equity	$ 5,733.2	$ 5,676.9

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 1	$ 1
Preferred stock, shares authorized (in shares)	100,000	100,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	67,100,000	67,000,000
Common stock, shares outstanding (in shares)	67,100,000	67,000,000

Consolidated Statements of Income and Comprehensive Income - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Statement [Abstract]
Revenue	$ 8,678.8	$ 9,181.3
Cost of revenue	8,427.7	8,937.9
Gross profit	251.1	243.4
Operating expenses:
Compensation and employee benefits	110.1	113.9
General and administrative	70.6	72.3
Total operating expenses	180.7	186.2
Income from operations	70.4	57.2
Non-operating expenses, net:
Interest expense and other financing costs, net	(19.4)	(16.3)
Other income (expense), net	0.4	(2.3)
Total non-operating expenses, net	(19.0)	(18.6)
Income (loss) before income taxes	51.3	38.6
Provision for income taxes	14.0	7.3
Net income (loss) including noncontrolling interest	37.3	31.3
Net income attributable to noncontrolling interest	0.1	0.1
Net income (loss) attributable to World Fuel	$ 37.2	$ 31.2
Basic earnings per common share (in dollars per share)	$ 0.55	$ 0.46
Basic weighted average common shares (in shares)	67.1	67.5
Diluted earnings per common share (in dollars per share)	$ 0.55	$ 0.46
Diluted weighted average common shares (in shares)	67.4	67.9
Comprehensive income:
Net income (loss) including noncontrolling interest	$ 37.3	$ 31.3
Other comprehensive income (loss):
Foreign currency translation adjustments	0.2	10.2
Cash flow hedges, net of income tax benefit of $4.1 and $4.2 for the three months ended March 31, 2019 and 2018, respectively	(11.9)	(9.7)
Other comprehensive income (loss)	(11.7)	0.5
Comprehensive income (loss) including noncontrolling interest	25.6	31.8
Comprehensive income (loss) attributable to noncontrolling interest	(0.8)	(0.3)
Comprehensive income (loss) attributable to World Fuel	$ 26.3	$ 32.1

Consolidated Statements of Income and Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Statement [Abstract]
Derivative instruments, income tax expense (benefit)	$ (4.1)	$ (4.2)

Consolidated Statements of Shareholders' Equity - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Capital in Excess of Par Value	Retained Earnings	Accumulated Other Comprehensive Loss	Total World Fuel Shareholders' Equity	Noncontrolling Interest Equity
Balance as of beginning of period at Dec. 31, 2017	$ 1,738.0	$ 0.7	$ 354.9	$ 1,492.8	$ (126.5)	$ 1,721.9	$ 16.0
Balance (in shares) at Dec. 31, 2017		67.7
Increase (Decrease) in Shareholders' Equity
Net income	31.3			31.2		31.2	0.1
Cash dividends declared	(4.0)			(4.0)		(4.0)
Amortization of share-based payment awards	4.2		4.2			4.2
Issuance (Cancellation) of common stock related to share-based payment awards	(0.3)		(0.3)			(0.3)
Purchases of common stock tendered by employees to satisfy the required withholding taxes related to share-based payment awards	(0.3)		(0.3)			(0.3)
Other comprehensive income (loss)	0.5				0.8	0.8	(0.3)
Reclassification of certain tax effects from U.S. Tax Reform	1.6			1.6		1.6
Balance as of end of period at Mar. 31, 2018	1,771.0	$ 0.7	358.6	1,521.6	(125.7)	1,755.1	15.9
Balance (in shares) at Mar. 31, 2018		67.7
Balance as of beginning of period at Dec. 31, 2018	$ 1,831.6	$ 0.7	340.4	1,606.1	(131.7)	1,815.4	16.1
Balance (in shares) at Dec. 31, 2018	67.0	67.0
Increase (Decrease) in Shareholders' Equity
Net income	$ 37.3			37.2		37.2	0.1
Cash dividends declared	(4.0)			(4.0)		(4.0)
Amortization of share-based payment awards	4.0		4.0			4.0
Issuance (Cancellation) of common stock related to share-based payment awards	0.0
Issuance (Cancellation) 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	(1.4)		(1.4)			(1.4)
Other comprehensive income (loss)	(11.7)				(11.0)	(11.0)	(0.8)
Balance as of end of period at Mar. 31, 2019	$ 1,855.8	$ 0.7	$ 343.0	$ 1,639.3	$ (142.7)	$ 1,840.3	$ 15.5
Balance (in shares) at Mar. 31, 2019	67.1	67.1

Consolidated Statements of Shareholders' Equity (Parenthetical) - USD ($) $ in Millions			3 Months Ended
	Apr. 12, 2019	Apr. 06, 2018	Mar. 31, 2019	Mar. 31, 2018
Cash dividends declared (in dollars per share)			$ 0.06	$ 0.06
Cash dividends declared			$ 4.0	$ 4.0
Cash dividends paid (in dollars per share)		$ 0.06
Dividends paid on common stock		$ 4.0	$ 4.0	$ 4.0
Subsequent Event
Cash dividends paid (in dollars per share)	$ 0.06
Dividends paid on common stock	$ 4.0

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash flows from operating activities:
Net income (loss) including noncontrolling interest	$ 37.3	$ 31.3
Adjustments to reconcile net income including noncontrolling interest to net cash provided by operating activities:
Depreciation and amortization	22.3	18.8
Provision for bad debt	2.4	1.8
Share-based payment award compensation costs	4.2	4.2
Deferred income tax benefit	(4.5)	(7.1)
Foreign currency losses, net	3.4	2.6
Other	8.2	0.7
Changes in assets and liabilities, net of acquisitions:
Accounts receivable, net (reduced by beneficial interests received in exchange for accounts receivables sold of $120.0 for the three months ended March 31, 2018)	11.2	(71.2)
Inventories	(83.4)	(84.8)
Prepaid expenses	8.7	6.1
Short-term derivative assets, net	164.2	(2.8)
Other current assets	27.3	(25.5)
Cash collateral with financial counterparties	(32.6)	21.2
Other non-current assets	27.3	(28.4)
Accounts payable	(10.9)	(50.9)
Customer deposits	(24.7)	(5.3)
Accrued expenses and other current liabilities	(103.2)	(30.2)
Non-current income tax, net and other long-term liabilities	(46.4)	(9.3)
Total adjustments	(26.5)	(260.1)
Net cash provided by (used in) operating activities	10.8	(228.8)
Cash flows from investing activities:
Cash receipts of retained beneficial interests in receivable sales	0.0	120.0
Acquisition of businesses, net of cash acquired	0.0	(22.0)
Capital expenditures	(21.8)	(15.4)
Other investing activities, net	3.3	3.6
Net cash (used in) provided by investing activities	(18.5)	86.1
Cash flows from financing activities:
Borrowings of debt	1,542.0	1,468.9
Repayments of debt	(1,547.5)	(1,545.1)
Dividends paid on common stock	(4.0)	(4.0)
Other financing activities, net	(1.4)	(0.5)
Net cash (used in) financing activities	(10.9)	(80.8)
Effect of exchange rate changes on cash and cash equivalents	0.9	4.1
Net (decrease) increase in cash and cash equivalents	(17.7)	(219.4)
Cash and cash equivalents, as of the beginning of the period	211.7	372.3
Cash and cash equivalents, as of the end of the period	$ 194.0	$ 152.9

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Supplemental Schedule of Noncash Investing and Financing Activities
Beneficial interest obtained in exchange for accounts receivable sold	$ 0.0	$ 120.0
Cash dividends declared, but not yet paid	$ 4.0	$ 4.0

Basis of Presentation and Significant Accounting Policies	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	Basis of Presentation and Significant Accounting Policies World Fuel Services Corporation (the “Company”) was incorporated in Florida in July 1984 and along with its consolidated subsidiaries is referred to collectively in this Quarterly Report on Form 10‑Q (“10-Q Report”) as “World Fuel,” “we,” “our” and “us.” We are a leading global fuel services company, principally engaged in the distribution of fuel and related products and services in the aviation, marine and land transportation industries. In recent years, we have expanded our product and service offerings to include energy advisory services and supply fulfillment with respect to natural gas and power and transaction and payment management solutions to commercial and industrial customers. Our intention is to become a leading global energy management company offering a full suite of energy advisory, management and fulfillment services and technology solutions across the energy product spectrum. We also seek to become a leading transaction and payment management company, offering payment management solutions to commercial and industrial customers, principally in the aviation, land and marine transportation industries. We prepared the consolidated financial statements following the requirements of the United States (“U.S.”) Securities and Exchange Commission (“SEC”) for interim reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by accounting principles generally accepted in the U.S. (“U.S. GAAP”) can be condensed or omitted. Revenues, expenses, assets and liabilities can vary during each quarter of the year. Therefore, the results and trends in these interim financial statements may not be representative of those for the full year. In our opinion, all adjustments necessary for a fair statement of the financial statements, which are of a normal and recurring nature, have been made for the interim periods reported. The information included in this 10-Q Report should be read in conjunction with the consolidated financial statements and accompanying notes included in our 2018 Annual Report on Form 10-K (“2018 10-K Report”). Certain amounts in the consolidated financial statements and associated notes may not add due to rounding. All percentages have been calculated using unrounded amounts. Our net income for the three months ending March 31, 2019 of $37.2 million, or $0.55 per diluted common share, includes a discrete tax benefit of $3.2 million with respect to a foreign tax filing and $3.4 million of operating income ($2.3 million after-tax), each of which should have been recognized in a prior period. Excluding these misstatements, which we have determined were not material to current or prior periods, our net income would have been $31.7 million, or $0.47 per diluted common share. There have been no significant changes, other than those related to the adopted new accounting standards below, in the Company's accounting policies from those disclosed in our 2018 10‑K Report. The significant accounting policies we use for quarterly financial reporting are disclosed in Note 1 of the “Notes to the Consolidated Financial Statements” included in our 2018 10‑K Report, and in the adopted accounting standards below. Adoption of New Accounting Standard Leases (Topic 842). In February 2016, ASU 2016-02 was issued. The primary objective of the new standard, which amends the existing lease guidance and adds additional disclosures, is to increase transparency and comparability among organizations by recognizing nearly all lease assets and lease liabilities on the balance sheet, including operating leases that under the prior standard were off-balance sheet. Topic 842 defines a lease as a contract that conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Control over the use of the identified asset means that the customer has the right to obtain substantially all of the economic benefits from the use of the asset and the right to direct the use of the asset. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018 (including interim periods within those periods) and early adoption is permitted. The Company adopted ASU 2016-02 in the first quarter of 2019 utilizing the modified retrospective transition method and applying the transition provisions at the effective date. We implemented the new standard using the package of practical expedients under the transition provisions that allows us not to reassess whether a contract contains a lease, how the lease is classified and if initial direct costs can be capitalized. For all the lessee arrangements, we have elected an accounting policy to combine non-lease components with the related lease components and treat the combined items as a lease for accounting purposes. Lastly, we have elected not to recognize the lease asset and related lease liability for leases with a lease term of 12 months or less. As of the date of implementation on January 1, 2019, the impact of the adoption of the new lease standard resulted in the recognition of the right of use assets of $167.3 million and lease liability of $173.6 million on the Company’s consolidated balance sheet. The difference between the right of use assets and lease liabilities is primarily the result of accrued lease payments and cumulative lease prepayments as well as the remaining balance of lease incentives received. Subsequent to adoption, the Company does not anticipate the impact on its results of operations and cash flows to be material. Accounting Standards Issued but Not Yet Adopted Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. In June 2016, ASU 2016-13 was issued. The amendments in this update will change how entities account for credit impairment from trade and other receivables, net investments arising from sales-type and direct financing leases, debt securities, purchased-credit impaired financial assets and other instruments in addition to loans. ASU 2018-19 issued in November 2018, clarifies that receivables arising from operating leases are not within the scope of Subtopic 326-20. For receivables and certain other instruments that are not measured at fair value, entities will be required to estimate expected credit losses. Under the expected loss model, an entity recognizes a loss upon initial recognition of the asset that reflects all future events that will lead to a loss being realized, regardless of whether it is probable that the future event will occur. The amendments in this update are effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted as of the fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. An entity will apply most of the amendments in this update using a modified-retrospective approach through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. We are currently evaluating the impact that the new standard would have on our consolidated financial statements and disclosures.

Accounts Receivable	3 Months Ended
Accounts Receivable	Mar. 31, 2019
Receivables [Abstract]
Accounts Receivable	Accounts Receivable We have receivables purchase agreements (“RPAs”) with Wells Fargo and Citibank that allow for the sale of up to an aggregate limit of $725.0 million of our accounts receivable. For the three months ended March 31, 2019 and 2018, cash payments to the owners of accounts receivable were $2.0 billion and $1.9 billion respectively, and cash proceeds from the sale of accounts receivable were $2.0 billion and $1.9 billion respectively. The fees and financing costs under the RPA were $5.8 million and $4.0 million for the three months ended March 31, 2019 and 2018, respectively. As of March 31, 2019 and December 31, 2018, our sold accounts receivable under the RPAs was $479.0 million and $508.2 million, respectively.

- Definition

+ References + Details

Acquisitions	3 Months Ended
Acquisitions	Mar. 31, 2019
Business Combinations [Abstract]
Acquisitions	Acquisitions 2018 Acquisitions During the first quarter of 2018, we completed one acquisition in the land segment. The financial position, results of operations and cash flows of the 2018 acquisition has been included in our consolidated financial statements since its date and did not have a material impact on our consolidated revenue and net income for the three months ended March 31, 2018.

Derivatives

3 Months Ended

Mar. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives

The following describes our derivative classifications:

Fair Value Hedges. Includes derivative contracts we hold to hedge the risk of changes in the price of our inventory.

Cash Flow Hedges. Includes certain derivative contracts we execute to mitigate the risk of price or foreign currency volatility in forecasted transactions.

The following table presents the gross fair value of our derivative instruments and their locations on the consolidated balance sheets (in millions):



		Gross Derivative Assets				Gross Derivative Liabilities
		As of				As of
		March 31,		December 31,		March 31,		December 31,
		2019		2018		2019		2018
Derivative Instruments	Consolidated Balance Sheets location
Derivatives designated as hedging instruments
Commodity contracts	Short-term derivative assets, net	$	0.1	$	168.5	$	—	$	122.5
	Identifiable intangible and other non-current assets	—		19.7		—		9.6
	Accrued expenses and other current liabilities	111.0		0.1		123.9		—
Total derivatives designated as hedging instruments		$	111.1	$	188.2	$	123.9	$	132.2

Derivatives not designated as hedging instruments
Commodity contracts	Short-term derivative assets, net	$	65.4	$	537.6	$	18.5	$	429.0
	Identifiable intangible and other non-current assets	32.4		71.7		15.9		40.0
	Accrued expenses and other current liabilities	288.1		30.7		335.2		126.4
	Other long-term liabilities	27.7		12.9		38.2		40.4
		$	413.6	$	652.9	$	407.8	$	635.8

Foreign currency contracts	Short-term derivative assets, net	$	0.8	$	4.4	$	0.5	$	0.8
	Identifiable intangible and other non-current assets	0.1		0.1		—		—
	Accrued expenses and other current liabilities	1.6		0.1		2.1		0.4
		$	2.6	$	4.6	$	2.6	$	1.2
Total derivatives not designated as hedging instruments		$	416.2	$	657.5	$	410.4	$	637.0

Total derivatives		$	527.3	$	845.8	$	534.3	$	769.1

For information regarding our derivative instruments measured at fair value after netting and collateral see Note 7.



	As of March 31,
Derivative Instruments	Units	2019
Commodity contracts
Long	BBL	104.7
Short	BBL	(96.4	)

Foreign currency exchange contracts
Sell U.S. dollar, buy other currencies	USD	(24.4	)
Buy U.S. dollar, sell other currencies	USD	255.5

As of March 31, 2019, and December 31, 2018, the following amounts were recorded on the consolidated balance sheets related to cumulative basis adjustments for fair value hedges (in millions):



Line item in the Consolidated Balance Sheets in which the hedged item is included	Carrying Amount of Hedged Asset/(Liabilities)				Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Asset/(Liabilities)
	As of				As of
	March 31, 2019		December 31, 2018		March 31, 2019		December 31, 2018
Inventory	$	45.0	$	44.7	$	1.6	$	(6.6	)

The following table presents the effect of fair value and cash flow hedges on income and expense line items in our Consolidated Statements of Income and Comprehensive Income (in millions):



		Location and Amount of Gain and (Loss) Recognized in Income on Fair Value and Cash Flow Hedging Relationships
		For the Three Months Ended
		March 31, 2019						March 31, 2018
		Revenue			Cost of Revenue			Revenue			Cost of Revenue
Total amounts of income and expense line items in which the effects of fair value or cash flow hedged are recorded		$	8,678.8		$	8,427.7		$	9,181.3		$	8,937.9
Gains or Loss on fair value hedge relationships
Commodity contracts
	Hedged Item	—			16.2			—			5.5
	Derivatives designated as hedging instruments	—			(13.5		)	—			(5.6		)
Gains or Loss on cash flow hedge relationships
Commodity contracts
	Amount of Gain (Loss) Reclassified from AOCI into Income	(3.8		)	(8.4		)	(3.6		)	18.2
Total amount of income and expense line items excluding the impact of hedges		$	8,682.6		$	8,422.1		$	9,184.9		$	8,956.0



Amount of Gain (Loss) Recognized in Accumulated Other Comprehensive Income	For the Three Months Ended						Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income	For the Three Months Ended
	March 31,							March 31,
Derivative Instruments	2019			2018			Location	2019			2018
Commodity contracts	$	(220.5	)	$	(2.3	)	Revenue	$	(3.8	)	$	(3.6	)
Commodity contracts	196.4			10.2			Cost of Revenue	(8.4		)	18.2
Foreign Currency contracts	—			(2.8		)	Other Income (expense) net	—			—
Total (Loss) Gain	$	(24.1	)	$	5.1		Total (Loss) Gain	$	(12.2	)	$	14.6



Amount of Realized and Unrealized Gain (Loss)		For the Three Months Ended
			March 31,
Derivative Instruments - Non-designated	Location		2019			2018
Commodity contracts
	Revenue		$	75.0		$	47.6
	Cost of revenue		(65.9		)	(37.0		)
			$	9.1		$	10.6
Foreign currency contracts
	Revenue		$	(0.1	)	$	(0.6	)
	Other (expense), net		0.5			(2.8		)
			$	0.4		$	(3.4	)
Total Gain (Loss)			$	9.5		$	7.2

Credit-Risk-Related Contingent Features



	Potential Collateral Requirements for Derivative Liabilities with Credit-Risk-Contingent Features
	As of March 31, 2019		As of December 31, 2018
Net derivatives liability positions with credit contingent features	$	2.6	$	7.2
Maximum potential collateral requirements	$	2.6	$	7.2

At March 31, 2019 and December 31, 2018, there was no collateral held by our counterparties on these derivative contracts with credit-risk-contingent features.

Goodwill

3 Months Ended

Mar. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The following table provides the components of and changes in the carrying amount of goodwill (in millions):



	Aviation			Land		Total
Balance as of December 31, 2018	$	322.9		$	529.7	$	852.7
Additions	—			—		—
Foreign exchange and other adjustments	(1.2		)	1.9		0.7
Balance as of March 31, 2019	$	321.7		$	531.7	$	853.3

Debt, Interest Income, Expense and Other Finance Costs

3 Months Ended

Mar. 31, 2019

Debt, Interest Income, Expense and Other Finance Costs [Abstract]

Debt, Interest Income, Expense and Other Finance Costs

Our debt consisted of the following (in millions):



	As of
	March 31,		December 31,
	2019		2018
Credit Facility	$	170.0	$	170.0
Term Loans	506.4		514.8
Finance Leases	16.7		13.8
Other	2.4		2.3
Total debt	$	695.5	$	701.0
Current maturities of long-term debt and capital leases	$	45.8	$	41.1
Long-term debt	$	649.7	$	659.9

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



	For the Three Months Ended
	March 31,
	2019			2018
Interest income	$	1.1		$	0.6
Interest expense and other financing costs	(20.5		)	(16.9		)
	$	(19.4	)	$	(16.3	)

Fair Value Measurements

3 Months Ended

Mar. 31, 2019

Fair Value Disclosures [Abstract]

Fair Value Measurements

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



	Fair Value Measurements as of March 31, 2019
		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total
Assets:
Commodities contracts		$	416.7	$	107.8	$	0.3	$	524.7
Foreign currency contracts		—		2.6		—		2.6
Cash surrender value of life insurance		—		6.7		—		6.7
Total assets at fair value		$	416.7	$	117.0	$	0.3	$	534.0

Liabilities:
Commodities contracts		$	427.2	$	104.4	$	0.2	$	531.7
Foreign currency contracts		—		2.6		—		2.6
Total liabilities at fair value		$	427.2	$	106.9	$	0.2	$	534.3

	Fair Value Measurements as of December 31, 2018
		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total
Assets:
Commodities contracts		$	585.6	$	254.6	$	0.9	$	841.2
Foreign currency contracts		—		4.6		—		4.6
Cash surrender value of life insurance		—		6.3		—		6.3
Total assets at fair value		$	585.6	$	265.6	$	0.9	$	852.1

Liabilities:
Commodities contracts		$	556.5	$	211.2	$	0.2	$	767.9
Foreign currency contracts		—		1.2		—		1.2
Total liabilities at fair value		$	556.5	$	212.4	$	0.2	$	769.1



	Fair Value as of March 31, 2019
										Gross Amounts
		Gross Amounts		Gross Amounts		Net Amounts		Cash		without
		Recognized		Offset		Presented		Collateral		Right of Offset		Net Amounts
Assets:
Commodities contracts		$	524.7	$	462.8	$	61.9	$	3.3	$	—	$	58.6
Foreign currency contracts		2.6		2.2		0.4		—		—		0.4
Total assets at fair value		$	527.3	$	465.0	$	62.3	$	3.3	$	—	$	59.0

Liabilities:
Commodities contracts		$	531.7	$	462.8	$	68.9	$	14.2	$	—	$	54.8
Foreign currency contracts		2.6		2.2		0.4		—		—		0.4
Total liabilities at fair value		$	534.3	$	465.0	$	69.3	$	14.2	$	—	$	55.1



	Fair Value as of December 31, 2018
										Gross Amounts
		Gross Amounts		Gross Amounts		Net Amounts		Cash		without
		Recognized		Offset		Presented		Collateral		Right of Offset		Net Amounts
Assets:
Commodities contracts		$	841.2	$	646.0	$	195.1	$	3.0	$	—	$	192.1
Foreign currency contracts		4.6		0.9		3.7		—		—		3.7
Total assets at fair value		$	845.8	$	647.0	$	198.8	$	3.0	$	—	$	195.8

Liabilities:
Commodities contracts		$	767.9	$	646.0	$	121.9	$	—	$	—	$	121.9
Foreign currency contracts		1.2		0.9		0.3		—		—		0.3
Total liabilities at fair value		$	769.1	$	647.0	$	122.2	$	—	$	—	$	122.2

At March 31, 2019 and December 31, 2018, we did not present any amounts gross on our consolidated balance sheet where we had the right of offset.

Concentration of Credit Risk

- Definition

+ References + Details

Income Taxes

3 Months Ended

Mar. 31, 2019

Income Tax Disclosure [Abstract]

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,
	2019			2018
Income tax provision	$	14.0		$	7.3

Effective income tax rate	27.3		%	19.0		%

Revenue from Contracts with Customers

3 Months Ended

Mar. 31, 2019

Revenue from Contract with Customer [Abstract]

Revenue from Contracts with Customers



	For the Three Months Ended
	March 31,
	2019		2018
Aviation	$	364.4	$	392.0
Land	4.8		1.1
Marine	708.9		799.6
Asia Pacific	$	1,078.1	$	1,192.7

Aviation	$	719.1	$	670.0
Land	640.5		679.8
Marine	654.7		637.4
EMEA	$	2,014.3	$	1,987.2

Aviation	$	545.7	$	490.2
Land	138.9		184.2
Marine	191.4		155.2
LATAM	$	876.0	$	829.7

Aviation	$	2,648.0	$	2,763.0
Land	1,634.4		1,958.3
Marine	334.5		279.9
North America	$	4,616.9	$	5,001.2

Other revenues (excluded from ASC 606)	$	93.5	$	170.6

	$	8,678.8	$	9,181.3

Business Segments

3 Months Ended

Mar. 31, 2019

Segment Reporting [Abstract]

Business Segments

Within each of our segments, we may enter into derivative contracts to mitigate the risk of market price fluctuations and also to offer our customers fuel pricing alternatives to meet their needs.

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:	2019			2018
Aviation segment	$	4,252.7		$	4,292.9
Land segment	2,493.6			2,860.7
Marine segment	1,932.5			2,027.7
	$	8,678.8		$	9,181.3

Gross profit:
Aviation segment	$	114.3		$	110.0
Land segment	101.5			102.2
Marine segment	35.2			31.2
	$	251.1		$	243.4
Income from operations:
Aviation segment	$	55.6		$	47.8
Land segment	21.0			19.6
Marine segment	13.5			8.6
	90.1			75.9
Corporate overhead - unallocated	(19.7		)	(18.7		)
	$	70.4		$	57.2

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



	As of
	March 31,		December 31,
	2019		2018
Accounts receivable, net:
Aviation segment, net of allowance for bad debt of $13.5 and $17.7 as of March 31, 2019 and December 31, 2018, respectively	$	976.8	$	992.2
Land segment, net of allowance for bad debt of $2.7 and $2.7 as of March 31, 2019 and December 31, 2018, respectively	941.5		846.1
Marine segment, net of allowance for bad debt of $18.8 and $19.0 as of March 31, 2019 and December 31, 2018, respectively	810.4		901.2
	$	2,728.7	$	2,739.6
Total assets:
Aviation segment	$	2,283.7	$	2,261.0
Land segment	2,208.0		2,178.1
Marine segment	1,057.8		1,124.2
Corporate	183.8		113.6
	$	5,733.2	$	5,676.9

Earnings per Common Share

3 Months Ended

Mar. 31, 2019

Earnings Per Share [Abstract]

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,
	2019		2018
Numerator:
Net income attributable to World Fuel	$	37.2	$	31.2
Denominator:
Weighted average common shares for basic earnings per common share	67.1		67.5
Effect of dilutive securities	0.2		0.4
Weighted average common shares for diluted earnings per common share	67.4		67.9

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	2.0		1.3

Basic earnings per common share	$	0.55	$	0.46

Diluted earnings per common share	$	0.55	$	0.46

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Tax Matters From time to time, we are under review by various domestic and foreign tax authorities with regard to indirect tax matters and are involved in various challenges and litigation in a number of countries, including, in particular, Brazil and South Korea, where the amounts under controversy may be material. We believe that these assessments are without merit and are currently appealing the actions. During the quarter ended December 31, 2016, the South Korean branch of one of our subsidiaries received assessments of approximately $10.5 million (KRW 11.9 billion) and during the quarter ended June 30, 2017, an assessment for an additional $17.7 million (KRW 20.1 billion) from the regional tax authorities of Seoul, South Korea. The assessments primarily consist of fines and penalties for allegedly failing to issue Value Added Tax ("VAT") invoices and report certain transactions during the period 2011-2014. These assessments do not involve failure to pay or collect VAT. We believe that these assessments are without merit and are currently appealing the actions. We are also involved in a number of tax disputes with federal, state and municipal tax authorities in Brazil, relating primarily to a VAT tax known as "ICMS". These disputes are at various stages of the legal process, including the administrative review phase and the collection action phase, and include assessments of fixed amounts of principal and penalties, plus interest. One of our Brazilian subsidiaries is currently appealing an assessment from the Brazilian tax authorities relating to the ICMS rate used for certain transactions. The total amount of approximately $13.9 million (BRL 54.1 million) primarily consists of interest and penalties. We believe that the assessment is without merit and are pursuing our remedies in the judicial court system. When we deem it appropriate and the amounts are reasonably estimable, we establish reserves for potential adjustments to our provision for the accrual of indirect taxes that may result from examinations or other actions by tax authorities. If events occur which indicate payment of these amounts is unnecessary, the reversal of the liabilities would result in the recognition of benefits in the period we determine the liabilities are no longer necessary. If our estimates of any of our federal, state, and foreign indirect tax liabilities are less than the ultimate assessment, it could result in a further charge to expense. Except with respect to the matters described above, we believe that the final outcome of any pending examinations, agreements, administrative or judicial proceedings will not have a material effect on our results of operations or cash flows. Other Matters We are also 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, personal injury, 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, 2019, we had recorded certain reserves which were not material. 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.

Restructuring

3 Months Ended

Mar. 31, 2019

Restructuring and Related Activities [Abstract]

Restructuring

The following table provides a summary of our restructuring activities during the three months ended March 31, 2019 (in millions):



	Aviation			Land			Marine			Corporate			Consolidated
Balance as of December 31, 2018	$	1.4		$	12.6		$	2.6		$	4.0		$	20.7
Restructuring-related costs	0.2			0.7			0.2			0.7			1.8
Paid during the period	(1.4		)	(5.2		)	(1.7		)	(3.6		)	(12.0		)
Restructuring charges as of March 31, 2019	$	0.2		$	8.1		$	1.1		$	1.1		$	10.5

Leases

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

Leases

For the quarter ended March 31, 2019, we recognized the following related to our lease arrangements (in millions):



	For the Three Months Ended
	For March 31, 2019
Finance lease cost:
Amortization of right-of-use assets	$	1.3
Interest on lease liabilities	0.2
Operating lease cost	13.1
Short-term lease cost	4.5
Variable lease cost	3.6
Sublease income	(2.5		)
Total lease cost	$	20.2

As of March 31, 2019, our remaining lease payments were as follows (in millions):



	Operating Leases		Finance Leases
2019 (excluding the three months ended March 31, 2019)	$	36.1	$	3.2
2020	39.0		4.1
2021	31.5		3.2
2022	25.0		2.8
2023	20.2		2.2
Thereafter	59.6		3.3
Total remaining lease payments (undiscounted)	211.4		18.8
Less: imputed interest	39.5		2.1
Present value of lease liabilities	$	171.9	$	16.7

As of December 31, 2018, our future minimum lease payments under noncancelable operating leases were as follows (in millions)



Year Ended December 31,
2019	$	50.7
2020	37.1
2021	30.7
2022	23.7
2023	17.8
Thereafter	48.5
	$	208.6

Supplemental balance sheet information related to leases (in millions):



	Classification	As of March 31, 2019
Assets
Operating Lease Assets	Identifiable intangible and other non-current assets	$	165.7
Finance Lease Assets	Property and equipment, net	16.2

Liabilities
Operating Lease Liability - Current	Accrued expenses and other current liabilities	39.2
Operating Lease Liability - Long Term	Other long-term liabilities	132.7
Finance Lease Liability - Current	Current maturities of long-term debt and capital leases	3.7
Finance Lease Liability - Long Term	Long-term debt	13.0

Other information related to leases as of March 31, 2019:



	Operating Leases			Finance Leases
Weighted-average remaining lease term (years)	6.5			5.6
Weighted-average discount rate	6.0		%	2.7		%
Cash paid for amounts included in the measurement of lease liabilities (in millions):
Operating cash flows from finance leases	$	—		$	0.1
Operating cash flows from operating leases	13.3			—
Financing cash flows from finance leases	—			0.9
Right of use assets obtained in exchange for new operating lease liability (noncash in millions)	8.4			—

Leases

For the quarter ended March 31, 2019, we recognized the following related to our lease arrangements (in millions):



	For the Three Months Ended
	For March 31, 2019
Finance lease cost:
Amortization of right-of-use assets	$	1.3
Interest on lease liabilities	0.2
Operating lease cost	13.1
Short-term lease cost	4.5
Variable lease cost	3.6
Sublease income	(2.5		)
Total lease cost	$	20.2

As of March 31, 2019, our remaining lease payments were as follows (in millions):



	Operating Leases		Finance Leases
2019 (excluding the three months ended March 31, 2019)	$	36.1	$	3.2
2020	39.0		4.1
2021	31.5		3.2
2022	25.0		2.8
2023	20.2		2.2
Thereafter	59.6		3.3
Total remaining lease payments (undiscounted)	211.4		18.8
Less: imputed interest	39.5		2.1
Present value of lease liabilities	$	171.9	$	16.7

As of December 31, 2018, our future minimum lease payments under noncancelable operating leases were as follows (in millions)



Year Ended December 31,
2019	$	50.7
2020	37.1
2021	30.7
2022	23.7
2023	17.8
Thereafter	48.5
	$	208.6

Supplemental balance sheet information related to leases (in millions):



	Classification	As of March 31, 2019
Assets
Operating Lease Assets	Identifiable intangible and other non-current assets	$	165.7
Finance Lease Assets	Property and equipment, net	16.2

Liabilities
Operating Lease Liability - Current	Accrued expenses and other current liabilities	39.2
Operating Lease Liability - Long Term	Other long-term liabilities	132.7
Finance Lease Liability - Current	Current maturities of long-term debt and capital leases	3.7
Finance Lease Liability - Long Term	Long-term debt	13.0

Other information related to leases as of March 31, 2019:



	Operating Leases			Finance Leases
Weighted-average remaining lease term (years)	6.5			5.6
Weighted-average discount rate	6.0		%	2.7		%
Cash paid for amounts included in the measurement of lease liabilities (in millions):
Operating cash flows from finance leases	$	—		$	0.1
Operating cash flows from operating leases	13.3			—
Financing cash flows from finance leases	—			0.9
Right of use assets obtained in exchange for new operating lease liability (noncash in millions)	8.4			—

Basis of Presentation and Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Basis of Presentation	World Fuel Services Corporation (the “Company”) was incorporated in Florida in July 1984 and along with its consolidated subsidiaries is referred to collectively in this Quarterly Report on Form 10‑Q (“10-Q Report”) as “World Fuel,” “we,” “our” and “us.” We are a leading global fuel services company, principally engaged in the distribution of fuel and related products and services in the aviation, marine and land transportation industries. In recent years, we have expanded our product and service offerings to include energy advisory services and supply fulfillment with respect to natural gas and power and transaction and payment management solutions to commercial and industrial customers. Our intention is to become a leading global energy management company offering a full suite of energy advisory, management and fulfillment services and technology solutions across the energy product spectrum. We also seek to become a leading transaction and payment management company, offering payment management solutions to commercial and industrial customers, principally in the aviation, land and marine transportation industries. We prepared the consolidated financial statements following the requirements of the United States (“U.S.”) Securities and Exchange Commission (“SEC”) for interim reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by accounting principles generally accepted in the U.S. (“U.S. GAAP”) can be condensed or omitted.
Use of Estimates	Certain amounts in the consolidated financial statements and associated notes may not add due to rounding. All percentages have been calculated using unrounded amounts
Adoption of New Accounting Standard and Accounting Standards Issued but Not Yet Adopted	Adoption of New Accounting Standard Leases (Topic 842). In February 2016, ASU 2016-02 was issued. The primary objective of the new standard, which amends the existing lease guidance and adds additional disclosures, is to increase transparency and comparability among organizations by recognizing nearly all lease assets and lease liabilities on the balance sheet, including operating leases that under the prior standard were off-balance sheet. Topic 842 defines a lease as a contract that conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Control over the use of the identified asset means that the customer has the right to obtain substantially all of the economic benefits from the use of the asset and the right to direct the use of the asset. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018 (including interim periods within those periods) and early adoption is permitted. The Company adopted ASU 2016-02 in the first quarter of 2019 utilizing the modified retrospective transition method and applying the transition provisions at the effective date. We implemented the new standard using the package of practical expedients under the transition provisions that allows us not to reassess whether a contract contains a lease, how the lease is classified and if initial direct costs can be capitalized. For all the lessee arrangements, we have elected an accounting policy to combine non-lease components with the related lease components and treat the combined items as a lease for accounting purposes. Lastly, we have elected not to recognize the lease asset and related lease liability for leases with a lease term of 12 months or less. As of the date of implementation on January 1, 2019, the impact of the adoption of the new lease standard resulted in the recognition of the right of use assets of $167.3 million and lease liability of $173.6 million on the Company’s consolidated balance sheet. The difference between the right of use assets and lease liabilities is primarily the result of accrued lease payments and cumulative lease prepayments as well as the remaining balance of lease incentives received. Subsequent to adoption, the Company does not anticipate the impact on its results of operations and cash flows to be material. Accounting Standards Issued but Not Yet Adopted Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. In June 2016, ASU 2016-13 was issued. The amendments in this update will change how entities account for credit impairment from trade and other receivables, net investments arising from sales-type and direct financing leases, debt securities, purchased-credit impaired financial assets and other instruments in addition to loans. ASU 2018-19 issued in November 2018, clarifies that receivables arising from operating leases are not within the scope of Subtopic 326-20. For receivables and certain other instruments that are not measured at fair value, entities will be required to estimate expected credit losses. Under the expected loss model, an entity recognizes a loss upon initial recognition of the asset that reflects all future events that will lead to a loss being realized, regardless of whether it is probable that the future event will occur. The amendments in this update are effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted as of the fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. An entity will apply most of the amendments in this update using a modified-retrospective approach through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. We are currently evaluating the impact that the new standard would have on our consolidated financial statements and disclosures.
Revenue from Contracts with Customers	Our contracts with customers primarily require us to deliver fuel and fuel-related products, while other arrangements require us to complete agreed-upon services. Revenue from the sale of fuel is recognized when our customers obtain control of the fuel, which is typically upon delivery of each promised gallon or barrel to an agreed-upon delivery point. We generally recognize revenue for services provided over the contract period when services have been performed based on our right to invoice for those services. Our contracts may contain fixed or variable pricing (such as market or index-based pricing) or some combination of those. Within our land and aviation segments, contracts with customers may include multi-year sales contracts, which are priced at market-based indices and require minimum volume purchase commitments from our customers. The consideration expected from these contracts is considered variable due to the market-based pricing and the variability is not resolved until delivery is made to our customers. We have elected to apply the optional exemption from estimating and disclosing the variable consideration from our remaining performance obligations under these contracts. We also have fixed price fuel and fuel-related product sale contracts with a contract term of less than one year (typically one month). For these contracts, we apply the optional exemption, to not disclose the amount of transaction price allocated to remaining performance obligations. We also apply this exemption to those contracts in which the right to consideration corresponds directly with the value to the customer of the entity's performance to date. In limited cases, we may have multi-period fixed price contracts. Because our long-term supply arrangements that exceed one year are typically based on market index prices as previously discussed, the transaction price associated with remaining performance obligations under multi-year fixed price fuel sale contracts are not significant.
Leases	We enter into lease arrangements for the use of offices, operational facilities, vehicles, vessels, storage tanks and other assets for our operations around the world. Some of these leases are embedded within other arrangements. When an arrangement includes both lease and non-lease components, we have elected to combine them and treat them as a lease component for all of our current leased asset classes. Determining whether a contract contains a lease includes judgment regarding whether the contract conveys the right to control the use of identified property, plant, or equipment for a period of time in exchange for consideration. Assessing whether we have obtained the right to substantially all of the economic benefits and the ability to direct how, and for what purpose, the asset is used requires more judgment in storage arrangements where we must determine whether our rights to capacity may represent substantially all of the available capacity at a location. Some of these arrangements are for periods of twelve months or less, while others are for longer periods, and may include optional renewals, terminations or purchase options, which are considered in our assessments when they are reasonably certain to occur. In addition, certain of these arrangements contain payments based on an index, market-based escalation or volume which may impact future payments. Most of our leases typically contain general covenants, restrictions or requirements such as maintaining minimum insurance coverage. We account for our lease-related assets and liabilities based on their classification as operating leases or finance leases, following the relevant accounting guidance. We measure lease related assets and liabilities based on the present value of lease payments, including in-substance fixed payments, variable payments that depend on an index or rate measured at the commencement date, and the amount we believe is probable we will pay the lessor under residual value guarantees when applicable. We discount lease payments based on our estimated incremental borrowing rate at lease commencement (or modification), which is primarily based on our estimated credit rating, the lease term at commencement, and the contract currency of the lease arrangement. We have elected to exclude short term leases (leases with an original lease term less than one year) from the measurement of lease related assets and liabilities.

Derivatives (Tables)

3 Months Ended

Mar. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

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

The following table presents the gross fair value of our derivative instruments and their locations on the consolidated balance sheets (in millions):



		Gross Derivative Assets				Gross Derivative Liabilities
		As of				As of
		March 31,		December 31,		March 31,		December 31,
		2019		2018		2019		2018
Derivative Instruments	Consolidated Balance Sheets location
Derivatives designated as hedging instruments
Commodity contracts	Short-term derivative assets, net	$	0.1	$	168.5	$	—	$	122.5
	Identifiable intangible and other non-current assets	—		19.7		—		9.6
	Accrued expenses and other current liabilities	111.0		0.1		123.9		—
Total derivatives designated as hedging instruments		$	111.1	$	188.2	$	123.9	$	132.2

Derivatives not designated as hedging instruments
Commodity contracts	Short-term derivative assets, net	$	65.4	$	537.6	$	18.5	$	429.0
	Identifiable intangible and other non-current assets	32.4		71.7		15.9		40.0
	Accrued expenses and other current liabilities	288.1		30.7		335.2		126.4
	Other long-term liabilities	27.7		12.9		38.2		40.4
		$	413.6	$	652.9	$	407.8	$	635.8

Foreign currency contracts	Short-term derivative assets, net	$	0.8	$	4.4	$	0.5	$	0.8
	Identifiable intangible and other non-current assets	0.1		0.1		—		—
	Accrued expenses and other current liabilities	1.6		0.1		2.1		0.4
		$	2.6	$	4.6	$	2.6	$	1.2
Total derivatives not designated as hedging instruments		$	416.2	$	657.5	$	410.4	$	637.0

Total derivatives		$	527.3	$	845.8	$	534.3	$	769.1

Schedule of fair value positions of derivative instruments



	As of March 31,
Derivative Instruments	Units	2019
Commodity contracts
Long	BBL	104.7
Short	BBL	(96.4	)

Foreign currency exchange contracts
Sell U.S. dollar, buy other currencies	USD	(24.4	)
Buy U.S. dollar, sell other currencies	USD	255.5

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

As of March 31, 2019, and December 31, 2018, the following amounts were recorded on the consolidated balance sheets related to cumulative basis adjustments for fair value hedges (in millions):



Line item in the Consolidated Balance Sheets in which the hedged item is included	Carrying Amount of Hedged Asset/(Liabilities)				Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Asset/(Liabilities)
	As of				As of
	March 31, 2019		December 31, 2018		March 31, 2019		December 31, 2018
Inventory	$	45.0	$	44.7	$	1.6	$	(6.6	)

Effect of fair value and cash flow hedges on income and expense

The following table presents the effect of fair value and cash flow hedges on income and expense line items in our Consolidated Statements of Income and Comprehensive Income (in millions):



		Location and Amount of Gain and (Loss) Recognized in Income on Fair Value and Cash Flow Hedging Relationships
		For the Three Months Ended
		March 31, 2019						March 31, 2018
		Revenue			Cost of Revenue			Revenue			Cost of Revenue
Total amounts of income and expense line items in which the effects of fair value or cash flow hedged are recorded		$	8,678.8		$	8,427.7		$	9,181.3		$	8,937.9
Gains or Loss on fair value hedge relationships
Commodity contracts
	Hedged Item	—			16.2			—			5.5
	Derivatives designated as hedging instruments	—			(13.5		)	—			(5.6		)
Gains or Loss on cash flow hedge relationships
Commodity contracts
	Amount of Gain (Loss) Reclassified from AOCI into Income	(3.8		)	(8.4		)	(3.6		)	18.2
Total amount of income and expense line items excluding the impact of hedges		$	8,682.6		$	8,422.1		$	9,184.9		$	8,956.0

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



Amount of Gain (Loss) Recognized in Accumulated Other Comprehensive Income	For the Three Months Ended						Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income	For the Three Months Ended
	March 31,							March 31,
Derivative Instruments	2019			2018			Location	2019			2018
Commodity contracts	$	(220.5	)	$	(2.3	)	Revenue	$	(3.8	)	$	(3.6	)
Commodity contracts	196.4			10.2			Cost of Revenue	(8.4		)	18.2
Foreign Currency contracts	—			(2.8		)	Other Income (expense) net	—			—
Total (Loss) Gain	$	(24.1	)	$	5.1		Total (Loss) Gain	$	(12.2	)	$	14.6

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



Amount of Realized and Unrealized Gain (Loss)		For the Three Months Ended
			March 31,
Derivative Instruments - Non-designated	Location		2019			2018
Commodity contracts
	Revenue		$	75.0		$	47.6
	Cost of revenue		(65.9		)	(37.0		)
			$	9.1		$	10.6
Foreign currency contracts
	Revenue		$	(0.1	)	$	(0.6	)
	Other (expense), net		0.5			(2.8		)
			$	0.4		$	(3.4	)
Total Gain (Loss)			$	9.5		$	7.2

Schedule of potential collateral requirements for derivative liabilities

The following table presents the potential collateral requirements for derivative liabilities with credit-risk-contingent features (in millions):



	Potential Collateral Requirements for Derivative Liabilities with Credit-Risk-Contingent Features
	As of March 31, 2019		As of December 31, 2018
Net derivatives liability positions with credit contingent features	$	2.6	$	7.2
Maximum potential collateral requirements	$	2.6	$	7.2

- Definition

+ References

+ Details

Goodwill (Tables)

3 Months Ended

Mar. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of changes in goodwill

The following table provides the components of and changes in the carrying amount of goodwill (in millions):



	Aviation			Land		Total
Balance as of December 31, 2018	$	322.9		$	529.7	$	852.7
Additions	—			—		—
Foreign exchange and other adjustments	(1.2		)	1.9		0.7
Balance as of March 31, 2019	$	321.7		$	531.7	$	853.3

Debt, Interest Income, Expense and Other Finance Costs (Tables)

3 Months Ended

Mar. 31, 2019

Debt, Interest Income, Expense and Other Finance Costs [Abstract]

Schedule of debt

Our debt consisted of the following (in millions):



	As of
	March 31,		December 31,
	2019		2018
Credit Facility	$	170.0	$	170.0
Term Loans	506.4		514.8
Finance Leases	16.7		13.8
Other	2.4		2.3
Total debt	$	695.5	$	701.0
Current maturities of long-term debt and capital leases	$	45.8	$	41.1
Long-term debt	$	649.7	$	659.9

Schedule of interest expense and other financing costs, net

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



	For the Three Months Ended
	March 31,
	2019			2018
Interest income	$	1.1		$	0.6
Interest expense and other financing costs	(20.5		)	(16.9		)
	$	(19.4	)	$	(16.3	)

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2019

Fair Value Disclosures [Abstract]

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

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



	Fair Value Measurements as of March 31, 2019
		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total
Assets:
Commodities contracts		$	416.7	$	107.8	$	0.3	$	524.7
Foreign currency contracts		—		2.6		—		2.6
Cash surrender value of life insurance		—		6.7		—		6.7
Total assets at fair value		$	416.7	$	117.0	$	0.3	$	534.0

Liabilities:
Commodities contracts		$	427.2	$	104.4	$	0.2	$	531.7
Foreign currency contracts		—		2.6		—		2.6
Total liabilities at fair value		$	427.2	$	106.9	$	0.2	$	534.3

	Fair Value Measurements as of December 31, 2018
		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total
Assets:
Commodities contracts		$	585.6	$	254.6	$	0.9	$	841.2
Foreign currency contracts		—		4.6		—		4.6
Cash surrender value of life insurance		—		6.3		—		6.3
Total assets at fair value		$	585.6	$	265.6	$	0.9	$	852.1

Liabilities:
Commodities contracts		$	556.5	$	211.2	$	0.2	$	767.9
Foreign currency contracts		—		1.2		—		1.2
Total liabilities at fair value		$	556.5	$	212.4	$	0.2	$	769.1

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



	Fair Value as of March 31, 2019
										Gross Amounts
		Gross Amounts		Gross Amounts		Net Amounts		Cash		without
		Recognized		Offset		Presented		Collateral		Right of Offset		Net Amounts
Assets:
Commodities contracts		$	524.7	$	462.8	$	61.9	$	3.3	$	—	$	58.6
Foreign currency contracts		2.6		2.2		0.4		—		—		0.4
Total assets at fair value		$	527.3	$	465.0	$	62.3	$	3.3	$	—	$	59.0

Liabilities:
Commodities contracts		$	531.7	$	462.8	$	68.9	$	14.2	$	—	$	54.8
Foreign currency contracts		2.6		2.2		0.4		—		—		0.4
Total liabilities at fair value		$	534.3	$	465.0	$	69.3	$	14.2	$	—	$	55.1



	Fair Value as of December 31, 2018
										Gross Amounts
		Gross Amounts		Gross Amounts		Net Amounts		Cash		without
		Recognized		Offset		Presented		Collateral		Right of Offset		Net Amounts
Assets:
Commodities contracts		$	841.2	$	646.0	$	195.1	$	3.0	$	—	$	192.1
Foreign currency contracts		4.6		0.9		3.7		—		—		3.7
Total assets at fair value		$	845.8	$	647.0	$	198.8	$	3.0	$	—	$	195.8

Liabilities:
Commodities contracts		$	767.9	$	646.0	$	121.9	$	—	$	—	$	121.9
Foreign currency contracts		1.2		0.9		0.3		—		—		0.3
Total liabilities at fair value		$	769.1	$	647.0	$	122.2	$	—	$	—	$	122.2

Income Taxes (Tables)

3 Months Ended

Mar. 31, 2019

Income Tax Disclosure [Abstract]

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

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,
	2019			2018
Income tax provision	$	14.0		$	7.3

Effective income tax rate	27.3		%	19.0		%

Revenue from Contracts with Customers (Tables)

3 Months Ended

Mar. 31, 2019

Revenue from Contract with Customer [Abstract]

Revenue disaggregated by major geographic areas



	For the Three Months Ended
	March 31,
	2019		2018
Aviation	$	364.4	$	392.0
Land	4.8		1.1
Marine	708.9		799.6
Asia Pacific	$	1,078.1	$	1,192.7

Aviation	$	719.1	$	670.0
Land	640.5		679.8
Marine	654.7		637.4
EMEA	$	2,014.3	$	1,987.2

Aviation	$	545.7	$	490.2
Land	138.9		184.2
Marine	191.4		155.2
LATAM	$	876.0	$	829.7

Aviation	$	2,648.0	$	2,763.0
Land	1,634.4		1,958.3
Marine	334.5		279.9
North America	$	4,616.9	$	5,001.2

Other revenues (excluded from ASC 606)	$	93.5	$	170.6

	$	8,678.8	$	9,181.3

Business Segments (Tables)

3 Months Ended

Mar. 31, 2019

Segment Reporting [Abstract]

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

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:	2019			2018
Aviation segment	$	4,252.7		$	4,292.9
Land segment	2,493.6			2,860.7
Marine segment	1,932.5			2,027.7
	$	8,678.8		$	9,181.3

Gross profit:
Aviation segment	$	114.3		$	110.0
Land segment	101.5			102.2
Marine segment	35.2			31.2
	$	251.1		$	243.4
Income from operations:
Aviation segment	$	55.6		$	47.8
Land segment	21.0			19.6
Marine segment	13.5			8.6
	90.1			75.9
Corporate overhead - unallocated	(19.7		)	(18.7		)
	$	70.4		$	57.2

Schedule of accounts receivable, net and total assets by segment

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



	As of
	March 31,		December 31,
	2019		2018
Accounts receivable, net:
Aviation segment, net of allowance for bad debt of $13.5 and $17.7 as of March 31, 2019 and December 31, 2018, respectively	$	976.8	$	992.2
Land segment, net of allowance for bad debt of $2.7 and $2.7 as of March 31, 2019 and December 31, 2018, respectively	941.5		846.1
Marine segment, net of allowance for bad debt of $18.8 and $19.0 as of March 31, 2019 and December 31, 2018, respectively	810.4		901.2
	$	2,728.7	$	2,739.6
Total assets:
Aviation segment	$	2,283.7	$	2,261.0
Land segment	2,208.0		2,178.1
Marine segment	1,057.8		1,124.2
Corporate	183.8		113.6
	$	5,733.2	$	5,676.9

Earnings per Common Share (Tables)

3 Months Ended

Mar. 31, 2019

Earnings Per Share [Abstract]

Computation of basic and diluted earnings per common share

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



	For the Three Months Ended
	March 31,
	2019		2018
Numerator:
Net income attributable to World Fuel	$	37.2	$	31.2
Denominator:
Weighted average common shares for basic earnings per common share	67.1		67.5
Effect of dilutive securities	0.2		0.4
Weighted average common shares for diluted earnings per common share	67.4		67.9

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	2.0		1.3

Basic earnings per common share	$	0.55	$	0.46

Diluted earnings per common share	$	0.55	$	0.46

Restructuring (Tables)

3 Months Ended

Mar. 31, 2019

Restructuring and Related Activities [Abstract]

Summary of restructuring activities included in accrued expenses other current liabilities

The following table provides a summary of our restructuring activities during the three months ended March 31, 2019 (in millions):



	Aviation			Land			Marine			Corporate			Consolidated
Balance as of December 31, 2018	$	1.4		$	12.6		$	2.6		$	4.0		$	20.7
Restructuring-related costs	0.2			0.7			0.2			0.7			1.8
Paid during the period	(1.4		)	(5.2		)	(1.7		)	(3.6		)	(12.0		)
Restructuring charges as of March 31, 2019	$	0.2		$	8.1		$	1.1		$	1.1		$	10.5

Leases (Tables)

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

Lease costs and other information related to leases

For the quarter ended March 31, 2019, we recognized the following related to our lease arrangements (in millions):



	For the Three Months Ended
	For March 31, 2019
Finance lease cost:
Amortization of right-of-use assets	$	1.3
Interest on lease liabilities	0.2
Operating lease cost	13.1
Short-term lease cost	4.5
Variable lease cost	3.6
Sublease income	(2.5		)
Total lease cost	$	20.2

Other information related to leases as of March 31, 2019:



	Operating Leases			Finance Leases
Weighted-average remaining lease term (years)	6.5			5.6
Weighted-average discount rate	6.0		%	2.7		%
Cash paid for amounts included in the measurement of lease liabilities (in millions):
Operating cash flows from finance leases	$	—		$	0.1
Operating cash flows from operating leases	13.3			—
Financing cash flows from finance leases	—			0.9
Right of use assets obtained in exchange for new operating lease liability (noncash in millions)	8.4			—

Remaining lease payments

As of March 31, 2019, our remaining lease payments were as follows (in millions):



	Operating Leases		Finance Leases
2019 (excluding the three months ended March 31, 2019)	$	36.1	$	3.2
2020	39.0		4.1
2021	31.5		3.2
2022	25.0		2.8
2023	20.2		2.2
Thereafter	59.6		3.3
Total remaining lease payments (undiscounted)	211.4		18.8
Less: imputed interest	39.5		2.1
Present value of lease liabilities	$	171.9	$	16.7

Remaining lease payments

As of March 31, 2019, our remaining lease payments were as follows (in millions):



	Operating Leases		Finance Leases
2019 (excluding the three months ended March 31, 2019)	$	36.1	$	3.2
2020	39.0		4.1
2021	31.5		3.2
2022	25.0		2.8
2023	20.2		2.2
Thereafter	59.6		3.3
Total remaining lease payments (undiscounted)	211.4		18.8
Less: imputed interest	39.5		2.1
Present value of lease liabilities	$	171.9	$	16.7

Future minimum lease payments under non-cancelable operating leases

As of December 31, 2018, our future minimum lease payments under noncancelable operating leases were as follows (in millions)



Year Ended December 31,
2019	$	50.7
2020	37.1
2021	30.7
2022	23.7
2023	17.8
Thereafter	48.5
	$	208.6

Supplemental balance sheet information related to leases

Supplemental balance sheet information related to leases (in millions):



	Classification	As of March 31, 2019
Assets
Operating Lease Assets	Identifiable intangible and other non-current assets	$	165.7
Finance Lease Assets	Property and equipment, net	16.2

Liabilities
Operating Lease Liability - Current	Accrued expenses and other current liabilities	39.2
Operating Lease Liability - Long Term	Other long-term liabilities	132.7
Finance Lease Liability - Current	Current maturities of long-term debt and capital leases	3.7
Finance Lease Liability - Long Term	Long-term debt	13.0

Basis of Presentation and Significant Accounting Policies (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Jan. 01, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net income attributable to World Fuel	$ 37.2	$ 31.2
Diluted earnings per common share (in dollars per share)	$ 0.55	$ 0.46
Discrete tax benefit	$ 2.8
Operating income	70.4	$ 57.2
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Right of use assets			$ 167.3
Lease liabilities			$ 173.6
Recognized from prior period
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating income	3.4
Operating income, after tax	2.3
Excluding errors
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net income attributable to World Fuel	$ 31.7
Diluted earnings per common share (in dollars per share)	$ 0.47
Discrete tax benefit	$ 3.2

Accounts Receivable (Details) - USD ($)	3 Months Ended		12 Months Ended
Accounts Receivable (Details) - USD ($)	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Receivables [Abstract]
Authorized amount of receivables sold under RPAs	$ 725,000,000.0
Accounts receivable sold under RPAs	2,000,000,000.0	$ 1,900,000,000
Cash proceeds from sale of accounts receivables	2,000,000,000.0	1,900,000,000
Fees and financing costs under the RPA	5,800,000	$ 4,000,000.0
Account receivable sold under the RPAs	$ 479,000,000.0		$ 508,200,000

Acquisitions - Narrative (Details)	3 Months Ended
Acquisitions - Narrative (Details)	Mar. 31, 2018 acquisition
Acquisitions 2018
Acquisitions
Number of businesses acquired	1

Derivatives - Gross Notional Values (Details) bbl in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2019 USD ($) bbl
Long \| Commodity contracts
Derivative instruments, at their respective fair value positions
Notional value of commodity contracts (in barrels) \| bbl	104.7
Long \| Foreign currency contracts \| USD
Derivative instruments, at their respective fair value positions
Notional amount of foreign currency exchange contracts \| $	$ 255.5
Short \| Commodity contracts
Derivative instruments, at their respective fair value positions
Notional value of commodity contracts (in barrels) \| bbl	96.4
Short \| Foreign currency contracts \| USD
Derivative instruments, at their respective fair value positions
Notional amount of foreign currency exchange contracts \| $	$ 24.4

Derivatives - Effect on Income (Details) - USD ($)	3 Months Ended
Derivatives - Effect on Income (Details) - USD ($)	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Gain (loss) on derivative
Carrying Amount of Hedged Asset/(Liabilities)	$ 45,000,000.0		$ 44,700,000
Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Asset/(Liabilities)	1,600,000		(6,600,000)
Revenue	8,678,800,000	$ 9,181,300,000
Cost of revenue	8,427,700,000	8,937,900,000
Gains or Loss on fair value hedge relationships
Gain (Loss) recognized in earnings related to fair value or cash flow hedges excluded from assessment of hedge effectiveness	0	0
Amount of Gain (Loss) Recognized in Accumulated Other Comprehensive Income	(24,100,000)	5,100,000
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income	(12,200,000)	14,600,000
Potential Collateral Requirements for Derivative Liabilities with Credit-Risk-Contingent Features
Net derivatives liability positions with credit contingent features	2,600,000		7,200,000
Maximum potential collateral requirements	2,600,000		7,200,000
Collateral posted and held by our counterparties	0		$ 0
Revenue
Gain (loss) on derivative
Revenue	8,678,800,000	9,181,300,000
Gains or Loss on fair value hedge relationships
Hedged Item	0	0
Derivatives designated as hedging instruments	0	0
Total amount of income and expense line items excluding the impact of hedges, Revenue	8,682,600,000	9,184,900,000
Cost of revenue
Gain (loss) on derivative
Cost of revenue	8,427,700,000	8,937,900,000
Gains or Loss on fair value hedge relationships
Hedged Item	16,200,000	5,500,000
Derivatives designated as hedging instruments	(13,500,000)	(5,600,000)
Total amount of income and expense line items excluding the impact of hedges, Cost of Revenue	8,422,100,000	8,956,000,000.0
Commodity contracts \| Revenue
Gains or Loss on fair value hedge relationships
Amount of Gain (Loss) Recognized in Accumulated Other Comprehensive Income	(220,500,000)	(2,300,000)
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income	(3,800,000)	(3,600,000)
Commodity contracts \| Cost of revenue
Gains or Loss on fair value hedge relationships
Amount of Gain (Loss) Recognized in Accumulated Other Comprehensive Income	196,400,000	10,200,000
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income	(8,400,000)	18,200,000
Foreign currency contracts \| Other Income (expense) net
Gains or Loss on fair value hedge relationships
Amount of Gain (Loss) Recognized in Accumulated Other Comprehensive Income	0	(2,800,000)
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income	0	0
Derivatives not designated as hedging instruments
Gains or Loss on fair value hedge relationships
Amount of Realized and Unrealized Gain (Loss)	9,500,000	7,200,000
Derivatives not designated as hedging instruments \| Commodity contracts
Gains or Loss on fair value hedge relationships
Amount of Realized and Unrealized Gain (Loss)	9,100,000	10,600,000
Derivatives not designated as hedging instruments \| Commodity contracts \| Revenue
Gains or Loss on fair value hedge relationships
Amount of Realized and Unrealized Gain (Loss)	75,000,000.0	47,600,000
Derivatives not designated as hedging instruments \| Commodity contracts \| Cost of revenue
Gains or Loss on fair value hedge relationships
Amount of Realized and Unrealized Gain (Loss)	(65,900,000)	(37,000,000.0)
Derivatives not designated as hedging instruments \| Foreign currency contracts
Gains or Loss on fair value hedge relationships
Amount of Realized and Unrealized Gain (Loss)	400,000	(3,400,000)
Derivatives not designated as hedging instruments \| Foreign currency contracts \| Revenue
Gains or Loss on fair value hedge relationships
Amount of Realized and Unrealized Gain (Loss)	(100,000)	(600,000)
Derivatives not designated as hedging instruments \| Foreign currency contracts \| Other Income (expense) net
Gains or Loss on fair value hedge relationships
Amount of Realized and Unrealized Gain (Loss)	500,000	(2,800,000)
Accumulated gain (loss), cash flow hedge, including noncontrolling interest \| Reclassification out of AOCI \| Revenue
Gain (loss) on derivative
Revenue	(3,800,000)	(3,600,000)
Accumulated gain (loss), cash flow hedge, including noncontrolling interest \| Reclassification out of AOCI \| Cost of revenue
Gain (loss) on derivative
Cost of revenue	$ (8,400,000)	$ 18,200,000

Goodwill - Goodwill (Details) $ in Millions	3 Months Ended
Goodwill - Goodwill (Details) $ in Millions	Mar. 31, 2019 USD ($)
Goodwill [Roll Forward]
Balance as of December 31, 2018	$ 852.7
Additions	0.0
Foreign exchange and other adjustments	0.7
Balance as of March 31, 2019	853.3
Aviation
Goodwill [Roll Forward]
Balance as of December 31, 2018	322.9
Additions	0.0
Foreign exchange and other adjustments	(1.2)
Balance as of March 31, 2019	321.7
Land
Goodwill [Roll Forward]
Balance as of December 31, 2018	529.7
Additions	0.0
Foreign exchange and other adjustments	1.9
Balance as of March 31, 2019	$ 531.7

Debt, Interest Income, Expense and Other Finance Costs - Schedule of Debt (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Finance Leases	$ 16.7
Finance Leases		$ 13.8
Total debt	695.5	701.0
Current maturities of long-term debt and finance leases	45.8	41.1
Long-term debt	649.7	659.9
Credit Facility
Debt Instrument [Line Items]
Long-term debt	170.0	170.0
Term Loans
Debt Instrument [Line Items]
Long-term debt	506.4	514.8
Other
Debt Instrument [Line Items]
Long-term debt	$ 2.4	$ 2.3

Debt, Interest Income, Expense and Other Finance Costs - Interest Income (Expense), and Other Financing Costs, net (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Debt, Interest Income, Expense and Other Finance Costs [Abstract]
Interest income	$ 1.1	$ 0.6
Interest expense and other financing costs	(20.5)	(16.9)
Interest income (expense) and other financing costs, net	$ (19.4)	$ (16.3)

Fair Value Measurements - Assets and Liabilities (Details) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Assets:
Derivative assets	$ 527,300,000	$ 845,800,000
Liabilities:
Derivative liabilities	534,300,000	769,100,000
Transfers from Level 1 to Level 2, assets	0	0
Transfers from Level 2 to Level 1, assets	0	0
Transfers from Level 1 to Level 2, liabilities	0	0
Transfers from Level 2 to Level 1, liabilities	0	0
Commodity contracts
Assets:
Derivative assets	524,700,000	841,200,000
Liabilities:
Derivative liabilities	531,700,000	767,900,000
Foreign currency contracts
Assets:
Derivative assets	2,600,000	4,600,000
Liabilities:
Derivative liabilities	2,600,000	1,200,000
Fair value measured on recurring basis
Assets:
Total assets at fair value	534,000,000.0	852,100,000
Liabilities:
Total liabilities at fair value	534,300,000	769,100,000
Fair value measured on recurring basis \| Cash surrender value of life insurance
Assets:
Cash surrender value of life insurance	6,700,000	6,300,000
Fair value measured on recurring basis \| Commodity contracts
Assets:
Derivative assets	524,700,000	841,200,000
Liabilities:
Derivative liabilities	531,700,000	767,900,000
Fair value measured on recurring basis \| Foreign currency contracts
Assets:
Derivative assets	2,600,000	4,600,000
Liabilities:
Derivative liabilities	2,600,000	1,200,000
Fair value measured on recurring basis \| Level 1 Inputs
Assets:
Total assets at fair value	416,700,000	585,600,000
Liabilities:
Total liabilities at fair value	427,200,000	556,500,000
Fair value measured on recurring basis \| Level 1 Inputs \| Cash surrender value of life insurance
Assets:
Cash surrender value of life insurance	0	0
Fair value measured on recurring basis \| Level 1 Inputs \| Commodity contracts
Assets:
Derivative assets	416,700,000	585,600,000
Liabilities:
Derivative liabilities	427,200,000	556,500,000
Fair value measured on recurring basis \| Level 1 Inputs \| Foreign currency contracts
Assets:
Derivative assets	0	0
Liabilities:
Derivative liabilities	0	0
Fair value measured on recurring basis \| Level 2 Inputs
Assets and liabilities measured at estimated fair value on a recurring basis
Debt	700,000,000	700,000,000
Notes receivable	27,300,000	28,200,000
Assets:
Total assets at fair value	117,000,000.0	265,600,000
Liabilities:
Total liabilities at fair value	106,900,000	212,400,000
Fair value measured on recurring basis \| Level 2 Inputs \| Cash surrender value of life insurance
Assets:
Cash surrender value of life insurance	6,700,000	6,300,000
Fair value measured on recurring basis \| Level 2 Inputs \| Commodity contracts
Assets:
Derivative assets	107,800,000	254,600,000
Liabilities:
Derivative liabilities	104,400,000	211,200,000
Fair value measured on recurring basis \| Level 2 Inputs \| Foreign currency contracts
Assets:
Derivative assets	2,600,000	4,600,000
Liabilities:
Derivative liabilities	2,600,000	1,200,000
Fair value measured on recurring basis \| Level 3 Inputs
Assets:
Total assets at fair value	300,000	900,000
Liabilities:
Total liabilities at fair value	200,000	200,000
Fair value measured on recurring basis \| Level 3 Inputs \| Cash surrender value of life insurance
Assets:
Cash surrender value of life insurance	0	0
Fair value measured on recurring basis \| Level 3 Inputs \| Commodity contracts
Assets:
Derivative assets	300,000	900,000
Liabilities:
Derivative liabilities	200,000	200,000
Fair value measured on recurring basis \| Level 3 Inputs \| Foreign currency contracts
Assets:
Derivative assets	0	0
Liabilities:
Derivative liabilities	$ 0	$ 0

Fair Value Measurements - Commodity and Foreign Currency Contracts (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Offsetting Assets [Line Items]
Gross Amounts Recognized	$ 527.3	$ 845.8
Gross Amounts Offset	465.0	647.0
Net Amounts Presented	62.3	198.8
Cash Collateral	3.3	3.0
Gross Amounts without Right of Offset	0.0	0.0
Net Amounts	59.0	195.8
Offsetting Liabilities [Line Items]
Gross Amounts Recognized	534.3	769.1
Gross Amounts Offset	465.0	647.0
Net Amounts Presented	69.3	122.2
Cash Collateral	14.2	0.0
Gross Amounts without Right of Offset	0.0	0.0
Net Amounts	55.1	122.2
Commodity contracts
Offsetting Assets [Line Items]
Gross Amounts Recognized	524.7	841.2
Gross Amounts Offset	462.8	646.0
Net Amounts Presented	61.9	195.1
Cash Collateral	3.3	3.0
Gross Amounts without Right of Offset	0.0	0.0
Net Amounts	58.6	192.1
Offsetting Liabilities [Line Items]
Gross Amounts Recognized	531.7	767.9
Gross Amounts Offset	462.8	646.0
Net Amounts Presented	68.9	121.9
Cash Collateral	14.2	0.0
Gross Amounts without Right of Offset	0.0	0.0
Net Amounts	54.8	121.9
Foreign currency contracts
Offsetting Assets [Line Items]
Gross Amounts Recognized	2.6	4.6
Gross Amounts Offset	2.2	0.9
Net Amounts Presented	0.4	3.7
Cash Collateral	0.0	0.0
Gross Amounts without Right of Offset	0.0	0.0
Net Amounts	0.4	3.7
Offsetting Liabilities [Line Items]
Gross Amounts Recognized	2.6	1.2
Gross Amounts Offset	2.2	0.9
Net Amounts Presented	0.4	0.3
Cash Collateral	0.0	0.0
Gross Amounts without Right of Offset	0.0	0.0
Net Amounts	$ 0.4	$ 0.3

Income Taxes (Details) $ in Millions, ₩ in Billions	3 Months Ended		12 Months Ended
Income Taxes (Details) $ in Millions, ₩ in Billions	Mar. 31, 2019 USD ($)	Mar. 31, 2018 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2018 KRW (₩)
Income Taxes [Line Items]
Income tax provision	$ 14.0	$ 7.3
Effective income tax rate	27.30%	19.00%
Adjustment for Income Tax Benefit, prior year foreign tax return	$ 2.8
Adjustment for Income Tax Benefit, changes in estimates in uncertain tax positions, an adjustment for stock-based compensation, and changes in valuation allowance		$ 4.9
Tax Authority, South Korea (SRTO)
Income Taxes [Line Items]
Income tax assessment notice, amount			$ 9.9	₩ 11.3
Pro forma
Income Taxes [Line Items]
Effective income tax rate	32.80%	31.70%
Adjustment for Income Tax Benefit, prior year foreign tax return	$ 3.2

Revenue from Contracts with Customers Revenue from Contracts with Customers (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Disaggregation of Revenue [Line Items]
Other revenues (excluded from ASC 606)	$ 93.5	$ 170.6
Revenue	8,678.8	9,181.3
Asia Pacific
Disaggregation of Revenue [Line Items]
Revenue, ASC 606	1,078.1	1,192.7
EMEA
Disaggregation of Revenue [Line Items]
Revenue, ASC 606	2,014.3	1,987.2
LATAM
Disaggregation of Revenue [Line Items]
Revenue, ASC 606	876.0	829.7
North America
Disaggregation of Revenue [Line Items]
Revenue, ASC 606	4,616.9	5,001.2
Aviation
Disaggregation of Revenue [Line Items]
Revenue	4,252.7	4,292.9
Aviation \| Asia Pacific
Disaggregation of Revenue [Line Items]
Revenue, ASC 606	364.4	392.0
Aviation \| EMEA
Disaggregation of Revenue [Line Items]
Revenue, ASC 606	719.1	670.0
Aviation \| LATAM
Disaggregation of Revenue [Line Items]
Revenue, ASC 606	545.7	490.2
Aviation \| North America
Disaggregation of Revenue [Line Items]
Revenue, ASC 606	2,648.0	2,763.0
Land
Disaggregation of Revenue [Line Items]
Revenue	2,493.6	2,860.7
Land \| Asia Pacific
Disaggregation of Revenue [Line Items]
Revenue, ASC 606	4.8	1.1
Land \| EMEA
Disaggregation of Revenue [Line Items]
Revenue, ASC 606	640.5	679.8
Land \| LATAM
Disaggregation of Revenue [Line Items]
Revenue, ASC 606	138.9	184.2
Land \| North America
Disaggregation of Revenue [Line Items]
Revenue, ASC 606	1,634.4	1,958.3
Marine
Disaggregation of Revenue [Line Items]
Revenue	1,932.5	2,027.7
Marine \| Asia Pacific
Disaggregation of Revenue [Line Items]
Revenue, ASC 606	708.9	799.6
Marine \| EMEA
Disaggregation of Revenue [Line Items]
Revenue, ASC 606	654.7	637.4
Marine \| LATAM
Disaggregation of Revenue [Line Items]
Revenue, ASC 606	191.4	155.2
Marine \| North America
Disaggregation of Revenue [Line Items]
Revenue, ASC 606	$ 334.5	$ 279.9

Business Segments - Income Statement Items (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019 USD ($) segment	Mar. 31, 2018 USD ($)
Information concerning revenue, gross profit and income from operations by segment
Number of reportable operating business segments \| segment	3
Revenue:
Revenue	$ 8,678.8	$ 9,181.3
Gross profit:
Gross profit	251.1	243.4
Income from operations:
Income from operations	70.4	57.2
Operating Segments
Income from operations:
Income from operations	90.1	75.9
Corporate
Income from operations:
Income from operations	(19.7)	(18.7)
Aviation segment
Revenue:
Revenue	4,252.7	4,292.9
Gross profit:
Gross profit	114.3	110.0
Aviation segment \| Operating Segments
Income from operations:
Income from operations	55.6	47.8
Land segment
Revenue:
Revenue	2,493.6	2,860.7
Gross profit:
Gross profit	101.5	102.2
Land segment \| Operating Segments
Income from operations:
Income from operations	21.0	19.6
Marine segment
Revenue:
Revenue	1,932.5	2,027.7
Gross profit:
Gross profit	35.2	31.2
Marine segment \| Operating Segments
Income from operations:
Income from operations	$ 13.5	$ 8.6

Business Segments - Balance Sheet Items (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Accounts receivable, net:
Accounts receivable, net	$ 2,728.7	$ 2,739.6
Total assets:
Total assets	5,733.2	5,676.9
Aviation segment
Accounts receivable, net:
Accounts receivable, net	976.8	992.2
Land segment
Accounts receivable, net:
Accounts receivable, net	941.5	846.1
Marine segment
Accounts receivable, net:
Accounts receivable, net	810.4	901.2
Operating Segments \| Aviation segment
Accounts receivable, net:
Allowance for bad debt	13.5	17.7
Total assets:
Total assets	2,283.7	2,261.0
Operating Segments \| Land segment
Accounts receivable, net:
Allowance for bad debt	2.7	2.7
Total assets:
Total assets	2,208.0	2,178.1
Operating Segments \| Marine segment
Accounts receivable, net:
Allowance for bad debt	18.8	19.0
Total assets:
Total assets	1,057.8	1,124.2
Corporate
Total assets:
Total assets	$ 183.8	$ 113.6

Earnings per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Numerator:
Net income attributable to World Fuel	$ 37.2	$ 31.2
Denominator:
Weighted average common shares for basic earnings per common share (in shares)	67.1	67.5
Effect of dilutive securities (in shares)	0.2	0.4
Weighted average common shares for diluted earnings per common share (in shares)	67.4	67.9
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 (in shares)	2.0	1.3
Basic earnings per common share (in dollars per share)	$ 0.55	$ 0.46
Diluted earnings per common share (in dollars per share)	$ 0.55	$ 0.46

- Definition

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

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Commitments and Contingencies (Details) R$ in Millions, $ in Millions, ₩ in Billions	Mar. 31, 2019 BRL (R$)	Mar. 31, 2019 USD ($)	Jun. 30, 2017 USD ($)	Jun. 30, 2017 KRW (₩)	Dec. 31, 2016 USD ($)	Dec. 31, 2016 KRW (₩)
Assessment
Loss Contingencies [Line Items]
Estimate of possible loss					$ 10.5	₩ 11.9
Additional Assessment
Loss Contingencies [Line Items]
Estimate of possible loss			$ 17.7	₩ 20.1
Federal, state and municipal tax authorities in Brazil \| Assessment
Loss Contingencies [Line Items]
Estimate of possible loss	R$ 54.1	$ 13.9

Restructuring (Details) $ in Millions	3 Months Ended
Restructuring (Details) $ in Millions	Mar. 31, 2019 USD ($)
Restructuring Reserve [Roll Forward]
Balance as of December 31, 2018	$ 20.7
Restructuring-related costs	1.8
Paid during the period	(12.0)
Restructuring charges as of March 31, 2019	10.5
Operating Segments \| Aviation
Restructuring Reserve [Roll Forward]
Balance as of December 31, 2018	1.4
Restructuring-related costs	0.2
Paid during the period	(1.4)
Restructuring charges as of March 31, 2019	0.2
Operating Segments \| Land
Restructuring Reserve [Roll Forward]
Balance as of December 31, 2018	12.6
Restructuring-related costs	0.7
Paid during the period	(5.2)
Restructuring charges as of March 31, 2019	8.1
Operating Segments \| Marine
Restructuring Reserve [Roll Forward]
Balance as of December 31, 2018	2.6
Restructuring-related costs	0.2
Paid during the period	(1.7)
Restructuring charges as of March 31, 2019	1.1
Corporate
Restructuring Reserve [Roll Forward]
Balance as of December 31, 2018	4.0
Restructuring-related costs	0.7
Paid during the period	(3.6)
Restructuring charges as of March 31, 2019	$ 1.1

Leases - Lease Cost (Details) $ in Millions	3 Months Ended
Leases - Lease Cost (Details) $ in Millions	Mar. 31, 2019 USD ($)
Finance lease cost:
Amortization of right-of-use assets	$ 1.3
Interest on lease liabilities	0.2
Operating lease cost	13.1
Short-term lease cost	4.5
Variable lease cost	3.6
Sublease income	(2.5)
Total lease cost	$ 20.2

Leases - Remaining Lease Payments (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Operating Leases
2019 (excluding the three months ended March 31, 2019)	$ 36.1
2020	39.0
2021	31.5
2022	25.0
2023	20.2
Thereafter	59.6
Total remaining lease payments (undiscounted)	211.4
Less: imputed interest	39.5
Present value of lease liabilities	171.9
Finance Leases
2019 (excluding the three months ended March 31, 2019)	3.2
2020	4.1
2021	3.2
2022	2.8
2023	2.2
Thereafter	3.3
Total remaining lease payments (undiscounted)	18.8
Less: imputed interest	2.1
Present value of lease liabilities	$ 16.7
Operating Leases, Before Adoption of 842
2019		$ 50.7
2020		37.1
2021		30.7
2022		23.7
2023		17.8
Thereafter		48.5
Total future minimum lease payments		$ 208.6

Leases - Supplemental Balance Sheet Information (Details) $ in Millions	Mar. 31, 2019 USD ($)
Assets
Operating Lease Assets	$ 165.7
Finance Lease Assets	16.2
Liabilities
Operating Lease Liability - Current	39.2
Operating Lease Liability - Long Term	132.7
Finance Lease Liability - Current	3.7
Finance Lease Liability - Long Term	$ 13.0

Leases - Other Information Related to Leases (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019 USD ($)
Operating Leases
Weighted-average remaining lease term (years)	6 years 6 months
Weighted-average discount rate	6.00%
Finance Leases
Weighted-average remaining lease term (years)	5 years 7 months 6 days
Weighted-average discount rate	2.70%
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	$ 0.1
Operating cash flows from operating leases	13.3
Cash paid for amounts included in the measurement of lease liabilities:
Financing cash flows from finance leases	0.9
Right of use assets obtained in exchange for new operating lease liability	$ 8.4

Derivatives - Balance Sheet Location (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Derivative assets	$ 527.3	$ 845.8
Derivative liabilities	534.3	769.1
Derivatives designated as hedging instruments
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Derivative assets	111.1	188.2
Derivative liabilities	123.9	132.2
Derivatives designated as hedging instruments \| Commodity contracts \| Short-term derivative assets, net
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Derivative assets	0.1	168.5
Derivative liabilities	0.0	122.5
Derivatives 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 assets	0.0	19.7
Derivative liabilities	0.0	9.6
Derivatives designated as hedging instruments \| Commodity contracts \| Accrued expenses and other current liabilities
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Derivative assets	111.0	0.1
Derivative liabilities	123.9	0.0
Derivatives not designated as hedging instruments
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Derivative assets	416.2	657.5
Derivative liabilities	410.4	637.0
Derivatives not designated as hedging instruments \| Commodity contracts
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Derivative assets	413.6	652.9
Derivative liabilities	407.8	635.8
Derivatives not designated as hedging instruments \| Commodity contracts \| Short-term derivative assets, net
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Derivative assets	65.4	537.6
Derivative liabilities	18.5	429.0
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 assets	32.4	71.7
Derivative liabilities	15.9	40.0
Derivatives not designated as hedging instruments \| Commodity contracts \| Accrued expenses and other current liabilities
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Derivative assets	288.1	30.7
Derivative liabilities	335.2	126.4
Derivatives not designated as hedging instruments \| Commodity contracts \| Other long-term liabilities
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Derivative assets	27.7	12.9
Derivative liabilities	38.2	40.4
Derivatives not designated as hedging instruments \| Foreign currency contracts
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Derivative assets	2.6	4.6
Derivative liabilities	2.6	1.2
Derivatives not designated as hedging instruments \| Foreign currency contracts \| Short-term derivative assets, net
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Derivative assets	0.8	4.4
Derivative liabilities	0.5	0.8
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 assets	0.1	0.1
Derivative liabilities	0.0	0.0
Derivatives not designated as hedging instruments \| Foreign currency contracts \| Accrued expenses and other current liabilities
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Derivative assets	1.6	0.1
Derivative liabilities	$ 2.1	$ 0.4