0000789460-26-000015 | 10-K | XBRL Viewer

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Debt, Interest Income, Expense, and Other Finance Costs - Summary of Debt (Details) € in Millions, $ in Millions	Dec. 31, 2025 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2024 EUR (€)	Jun. 26, 2023 USD ($)
Debt Instrument [Line Items]
Total debt	$ 697.1	$ 880.8
Less: Current maturities of long-term debt and finance leases	11.9	84.0
Long-term debt	685.2	796.8
Credit Facility
Debt Instrument [Line Items]
Total debt	0.0	0.0
Term Loan
Debt Instrument [Line Items]
Total debt	346.5	455.3
Convertible Notes (1)
Debt Instrument [Line Items]
Total debt	343.4	340.9
Debt Instrument, Face Amount	350.0	350.0		$ 350.0
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net	6.6	9.1
Debt Instrument, Fair Value Disclosure	378.3	395.7
Finance leases (2)
Debt Instrument [Line Items]
Total debt	4.4	29.9
Other (3)
Debt Instrument [Line Items]
Total debt	$ 2.8	54.7
Other Debt
Debt Instrument [Line Items]
Secured Debt		$ 50.3	€ 48.5

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
Cybersecurity Risk Management and Strategy Disclosure	Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	Governance – Roles of our Board of Directors and Management Our Board has delegated the Audit Committee with responsibility for monitoring and oversight of the information technology and cybersecurity components of our risk assessment and risk management programs. The Audit Committee, composed entirely of independent directors: •regularly reviews our cybersecurity and related information technology risks, controls and procedures, including data protection and privacy and our plans to mitigate cybersecurity risks and to respond to cybersecurity incidents; •oversees technology and operations processes that relate to or affect our internal control systems, information security, data protection and privacy, fraud and cybersecurity risks; and, •assists management in developing our risk management methodologies and the steps taken to identify, monitor and control such exposures. Our Chief Information Officer ("CIO") and our Chief Information Security Officer ("CISO") are responsible for our company’s overall information security activities and cyber risk programs. Our CISO reports to the CIO and leads our cyber and data-related incident response activities. Our cybersecurity leaders possess a range of skills, experiences, educations and certifications that we believe make them qualified to be enterprise-wide leaders. Our CISO has extensive cybersecurity knowledge and skills gained from experience as an architect in the financial services and energy industries, with additional experience in business process design, cloud/development operations, digital application programming interfaces, and identity integration and strategic information technology ("IT") experiences, among others. Our interim CIO has extensive experience gained from years of experience, including with World Kinect, in cybersecurity, IT strategy, infrastructure, applications, data, and artificial intelligence. We have a cross-functional approach to addressing cybersecurity risk, with our information technology, legal, and internal audit functions regularly presenting to the Audit Committee on key cybersecurity topics. Our CISO, together with our CIO and other members of the senior leadership in our information technology organization, also provide the Audit Committee with these updates on at least a quarterly basis, and more often as needed. These reports include topics such as analyses of recent cybersecurity threats and incidents across the industry, as well as a review of our own security controls, assessments and program maturity, and risk mitigation status. Cybersecurity Risk Management & Strategy We have strategically integrated cybersecurity risk management into our broader enterprise risk management program to ensure cybersecurity risks are identified, evaluated and addressed alongside our operational objectives. Overall, we seek to address cybersecurity risks through a comprehensive, cross-functional approach that is focused on preserving the confidentiality, integrity and availability of our data and information by identifying, preventing and mitigating cybersecurity threats and being prepared to effectively respond to cybersecurity incidents when they occur. As a global company, we are also committed to respecting individual privacy and complying with applicable data privacy laws throughout the world, such as the European Union’s General Data Protection Regulation ("GDPR"), U.K. Data Protection Act and the California Consumer Privacy Act ("CCPA"). Our cybersecurity policies, standards, processes, and practices are designed to align with the National Institute of Standards and Technology ("NIST") Cybersecurity Framework. We last achieved ISO 27001 certification on April 11, 2025 and intend to review and update that certification as appropriate in the future. Our cybersecurity program also includes a detailed control catalog that is designed to map to several other frameworks, providing a broad approach to managing cyber risks. However, we use NIST and other cybersecurity frameworks solely as a guide to help us identify, assess and manage cybersecurity risks relevant to our business. We conduct internal vulnerability scans, penetration tests, and breach simulation exercises, reinforcing our controls and our readiness to respond to potential threats. Recognizing the complexity and evolving nature of cybersecurity threats, we engage with a range of external experts, including cybersecurity consultants, auditors and advisers, in evaluating and testing our risk management systems. Our collaboration with these third parties includes cybersecurity audits and testing, threat assessments and tabletop exercises, along with consultation on security enhancements. We have implemented processes designed to mitigate risks related to data breaches or other security events originating from third parties. With our vendors, we conduct security assessments of key third-party providers before engagement and maintain ongoing monitoring to ensure their compliance with our cybersecurity standards. Through our cybersecurity training program, employees and contractors are provided with cybersecurity training upon hire and thereafter on an annual basis. In addition, training and awareness campaigns continue throughout the year, where we employ various methods such as conducting mock phishing tests, live training sessions and informational articles.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	We have strategically integrated cybersecurity risk management into our broader enterprise risk management program to ensure cybersecurity risks are identified, evaluated and addressed alongside our operational objectives. Overall, we seek to address cybersecurity risks through a comprehensive, cross-functional approach that is focused on preserving the confidentiality, integrity and availability of our data and information by identifying, preventing and mitigating cybersecurity threats and being prepared to effectively respond to cybersecurity incidents when they occur. As a global company, we are also committed to respecting individual privacy and complying with applicable data privacy laws throughout the world, such as the European Union’s General Data Protection Regulation ("GDPR"), U.K. Data Protection Act and the California Consumer Privacy Act ("CCPA").
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Text Block]	Based on the information we have as of the date of this Form 10-K, we do not believe any risks from cybersecurity threats, including as a result of any previous cybersecurity incidents, have materially affected or are reasonably likely to materially affect our business strategy, results of operations or financial condition. While we maintain cybersecurity insurance, the costs related to cybersecurity threats or cybersecurity incidents may not be fully insured. See Item 1A. – Risk Factors for additional information regarding cybersecurity threats.
Cybersecurity Risk Board of Directors Oversight [Text Block]	Governance – Roles of our Board of Directors and Management Our Board has delegated the Audit Committee with responsibility for monitoring and oversight of the information technology and cybersecurity components of our risk assessment and risk management programs. The Audit Committee, composed entirely of independent directors: •regularly reviews our cybersecurity and related information technology risks, controls and procedures, including data protection and privacy and our plans to mitigate cybersecurity risks and to respond to cybersecurity incidents; •oversees technology and operations processes that relate to or affect our internal control systems, information security, data protection and privacy, fraud and cybersecurity risks; and, •assists management in developing our risk management methodologies and the steps taken to identify, monitor and control such exposures. Our Chief Information Officer ("CIO") and our Chief Information Security Officer ("CISO") are responsible for our company’s overall information security activities and cyber risk programs. Our CISO reports to the CIO and leads our cyber and data-related incident response activities. Our cybersecurity leaders possess a range of skills, experiences, educations and certifications that we believe make them qualified to be enterprise-wide leaders. Our CISO has extensive cybersecurity knowledge and skills gained from experience as an architect in the financial services and energy industries, with additional experience in business process design, cloud/development operations, digital application programming interfaces, and identity integration and strategic information technology ("IT") experiences, among others. Our interim CIO has extensive experience gained from years of experience, including with World Kinect, in cybersecurity, IT strategy, infrastructure, applications, data, and artificial intelligence. We have a cross-functional approach to addressing cybersecurity risk, with our information technology, legal, and internal audit functions regularly presenting to the Audit Committee on key cybersecurity topics. Our CISO, together with our CIO and other members of the senior leadership in our information technology organization, also provide the Audit Committee with these updates on at least a quarterly basis, and more often as needed. These reports include topics such as analyses of recent cybersecurity threats and incidents across the industry, as well as a review of our own security controls, assessments and program maturity, and risk mitigation status.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	Our Board has delegated the Audit Committee with responsibility for monitoring and oversight of the information technology and cybersecurity components of our risk assessment and risk management programs.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	regularly reviews our cybersecurity and related information technology risks, controls and procedures, including data protection and privacy and our plans to mitigate cybersecurity risks and to respond to cybersecurity incidents;
Cybersecurity Risk Role of Management [Text Block]	Our CISO reports to the CIO and leads our cyber and data-related incident response activities.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	Our Chief Information Officer ("CIO") and our Chief Information Security Officer ("CISO") are responsible for our company’s overall information security activities and cyber risk programs.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Our cybersecurity leaders possess a range of skills, experiences, educations and certifications that we believe make them qualified to be enterprise-wide leaders. Our CISO has extensive cybersecurity knowledge and skills gained from experience as an architect in the financial services and energy industries, with additional experience in business process design, cloud/development operations, digital application programming interfaces, and identity integration and strategic information technology ("IT") experiences, among others. Our interim CIO has extensive experience gained from years of experience, including with World Kinect, in cybersecurity, IT strategy, infrastructure, applications, data, and artificial intelligence.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	We have a cross-functional approach to addressing cybersecurity risk, with our information technology, legal, and internal audit functions regularly presenting to the Audit Committee on key cybersecurity topics.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Accounts Receivable

12 Months Ended

Dec. 31, 2025

Receivables [Abstract]

Accounts Receivable

3. Accounts Receivable

Accounts Receivable and Allowance for Credit Losses

When we extend credit on an unsecured basis, our exposure to credit losses depends on the financial condition of our customers and macroeconomic factors beyond our control, such as global economic conditions or adverse impacts in the industries we serve, changes in energy prices and political instability. We actively monitor and manage our credit exposure and work to respond to both changes in our customers' financial conditions and macroeconomic events. Based on the ongoing credit evaluations of our customers, we adjust credit limits based upon payment history and our customers' current creditworthiness. However, because we extend credit on an unsecured basis to most of our customers, there is a possibility that any accounts receivable not collected may ultimately need to be written off.

We had accounts receivable, net, of $2.2 billion and $2.4 billion and an allowance for expected credit losses, primarily related to accounts receivable, of $16.6 million and $23.7 million, as of December 31, 2025 and 2024, respectively. Changes to the expected credit loss provision during the year ended December 31, 2025 resulted from the Company's assessment of reasonable and supportable forward-looking information, including global economic outlook considerations; in addition to the impact of exiting certain activities as described in Note 16. Restructuring and Exit Activities. Based on an aging analysis as of December 31, 2025, 94% of our accounts receivable were outstanding less than 60 days.

The following table sets forth activities in our allowance for expected credit losses (in millions):


	2025		2024		2023
Balance as of January 1,	$	23.7	$	20.8	$	17.3
Charges to allowance for credit losses	3.9		12.0		4.7
Write-off of uncollectible receivables	(11.2)		(10.6)		(1.5)
Recoveries of credit losses	0.4		2.0		0.3
Translation adjustments	(0.2)		(0.5)		(0.1)
December 31,	$	16.6	$	23.7	$	20.8

Receivable Purchase Agreements

We have receivable purchase agreements ("RPAs") that allow for the sale of our qualifying accounts receivable in exchange for cash consideration equal to the total balance, less a discount margin, depending on the outstanding accounts receivable at any given time. During 2023, we amended one of our RPAs to, among other things, reduce the overall fee structure. During 2025, we amended one of our RPAs to extend the term of the agreement and reduce the overall fee structure.

Accounts receivable sold under the RPAs are accounted for as sales and excluded from Accounts receivable, net of allowance for credit losses on the accompanying Consolidated Balance Sheets. Fees paid under the RPAs are recorded within Interest expense and other financing costs, net on the Consolidated Statements of Income and Comprehensive Income.

During the years ended December 31, 2025, 2024, and 2023, respectively, we sold receivables under the RPAs with an aggregate face value of $11.5 billion, $11.9 billion, and $9.5 billion and recognized fees of $31.8 million, $38.5 million, and $37.6 million.

Goodwill and Identifiable Intangible Assets - Identifiable Intangible Assets (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 678.0	$ 616.6
Accumulated Amortization	410.6	400.3
Net	267.4	216.3
Indefinite-lived Intangible Assets [Line Items]
Total intangible assets, Gross Carrying Amount	722.3	661.5
Total intangible assets, Net	311.7	261.2
Trademark / trade name rights
Indefinite-lived Intangible Assets [Line Items]
Indefinite lived intangible assets	44.2	44.9
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	555.1	504.1
Accumulated Amortization	344.9	339.8
Net	210.2	164.3
Supplier agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	69.0	69.0
Accumulated Amortization	39.8	35.4
Net	29.2	33.6
Others
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	54.0	43.5
Accumulated Amortization	25.9	25.1
Net	$ 28.1	$ 18.4

Cover - USD ($) $ in Millions	12 Months Ended
Cover - USD ($) $ in Millions	Dec. 31, 2025	Feb. 13, 2026	Jun. 30, 2025
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2025
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-09533
Entity Registrant Name	WORLD KINECT CORPORATION
Entity Incorporation, State or Country Code	FL
Entity Address, Address Line One	9800 N.W. 41st Street,
Entity Address, City or Town	Miami,
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33178
Entity Tax Identification Number	59-2459427
City Area Code	305
Local Phone Number	428-8000
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	WKC
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 1,525
Entity Common Stock, Shares Outstanding		51,278,990
Documents Incorporated by Reference [Text Block]	Portions of the registrant’s proxy statement relating to its 2026 Annual Meeting of Shareholders, to be filed with the Securities and Exchange Commission pursuant to Regulation 14A under the Securities Exchange Act of 1934, are incorporated by reference to the extent set forth in Part III, Items 10-14 of this Annual Report on Form 10-K.
Entity Central Index Key	0000789460
Amendment Flag	false
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	FY
Document Financial Statement Error Correction [Flag]	false

Income Taxes - Net Operating Losses and Income Tax Concessions (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Income taxes
Net operating loss carryforward, Total	$ 79.9	$ 62.5
2026-2045
Income taxes
Net operating Loss carryforward, US	11.3
Indefinite
Income taxes
Net operating Loss carryforward, US	6.2
Net operating Loss carryforward, Foreign	50.4
Net operating Loss carryforward, US	5.5
2025-2044
Income taxes
Net operating Loss carryforward, Foreign	$ 6.6

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

12 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

Schedule of revenue, significant segment expenses, and income from operations by segment

Information concerning our revenue, significant segment expenses, and income from operations by segment is as follows (in millions):


	For the Year Ended December 31, 2025
	Aviation		Land		Marine		Total
Revenue	$	18,993.6	$	10,240.0	$	7,683.1	$	36,916.6
Segment expenses:
Cost of revenue	(18,467.3)		(9,941.6)		(7,560.0)		(35,968.8)
Compensation and related costs	(118.2)		(144.4)		(32.4)		(294.9)
Incentive compensation	(27.1)		(10.2)		(8.8)		(46.2)
Corporate allocations (1)	(37.5)		(16.2)		(21.1)		(74.8)
Depreciation and amortization	(17.9)		(35.4)		(1.1)		(54.5)
Provision for credit losses	(5.1)		1.6		(0.4)		(3.9)
Goodwill and other asset impairments	0.1		(654.7)		(35.1)		(689.6)
Restructuring and exit costs	(6.9)		(65.8)		(1.8)		(74.5)
Other segment expenses (2)	(54.5)		(66.1)		(21.4)		(142.0)
Operating income - segment profit (loss)	259.1		(692.6)		0.9		(432.6)
Unallocated corporate expenses (3)							(132.2)
Interest expense and other financing costs, net							(100.6)
Other income (expense), net							(74.3)
Income (loss) before income taxes							$	(739.7)


	For the Year Ended December 31, 2024
	Aviation		Land		Marine		Total
Revenue	$	20,469.1	$	12,811.7	$	8,887.2	$	42,168.0
Segment expenses:
Cost of revenue	(19,983.6)		(12,427.2)		(8,730.8)		(41,141.6)
Compensation and related costs	(114.0)		(175.6)		(32.7)		(322.3)
Incentive compensation	(26.0)		(17.9)		(12.6)		(56.6)
Corporate allocations (1)	(37.2)		(17.1)		(22.1)		(76.4)
Depreciation and amortization	(16.2)		(37.8)		(1.1)		(55.1)
Provision for credit losses	(2.5)		(10.2)		0.7		(12.1)
Goodwill and other asset impairments	(0.1)		(6.9)		—		(7.0)
Restructuring and exit costs	(0.1)		(3.2)		(3.3)		(6.6)
Other segment expenses (2)	(49.0)		(74.6)		(20.4)		(144.0)
Operating income - segment profit (loss)	240.4		41.1		64.8		346.3
Unallocated corporate expenses (3)							(135.7)
Interest expense and other financing costs, net							(102.2)
Other income (expense), net							(12.9)
Income (loss) before income taxes							$	95.5


	For the Year Ended December 31, 2023
	Aviation		Land		Marine		Total
Revenue	$	23,275.1	$	15,189.9	$	9,245.6	$	47,710.6
Segment expenses:
Cost of revenue	(22,789.3)		(14,790.1)		(9,073.0)		(46,652.4)
Compensation and related costs	(124.7)		(176.4)		(33.1)		(334.2)
Incentive compensation	(31.5)		(29.3)		(13.2)		(74.1)
Corporate allocations (1)	(40.0)		(19.9)		(23.8)		(83.7)
Depreciation and amortization	(19.9)		(38.3)		(1.2)		(59.3)
Provision for credit losses	(2.7)		(2.2)		0.1		(4.8)
Goodwill and other asset impairments	(0.8)		(12.8)		—		(13.7)
Restructuring and exit costs	(1.5)		(4.0)		—		(5.5)
Other segment expenses (2)	(55.9)		(76.8)		(19.1)		(151.8)
Operating income - segment profit (loss)	208.8		40.1		82.3		331.2
Unallocated corporate expenses (3)							(133.2)
Interest expense and other financing costs, net							(127.7)
Other income (expense), net							(3.6)
Income (loss) before income taxes							$	66.7

(1)Includes allocations of compensation costs and general and administrative expenses.

(2)Other segment expenses include professional fees, office expenses and general insurance, technology related expenses, travel and entertainment, and other general and administrative expenses.

(3)Unallocated corporate expenses include corporate compensation costs and general and administrative expenses which are not allocated to the operating segments, as well as certain asset impairment charges related to equity investments in non-core businesses.

Schedule of capital expenditures and depreciation and amortization by segment

Information concerning our capital expenditures and depreciation and amortization by segment is as follows (in millions):


	For the Year Ended December 31, 2025
	Aviation		Land		Marine		Segment Total		Corporate - Unallocated		Consolidated
Depreciation and amortization (1)	$	31.1	$	57.1	$	2.9	$	91.2	$	7.0	$	98.2
Capital expenditures	31.8		19.8		5.4		57.1		8.5		65.6


	For the Year Ended December 31, 2024
	Aviation		Land		Marine		Segment Total		Corporate - Unallocated		Consolidated
Depreciation and amortization (1)	$	28.1	$	67.0	$	3.6	$	98.7	$	7.7	$	106.4
Capital expenditures	34.1		21.5		7.4		63.0		5.2		68.2


	For the Year Ended December 31, 2023
	Aviation		Land		Marine		Segment Total		Corporate - Unallocated		Consolidated
Depreciation and amortization (1)	$	32.0	$	61.3	$	3.6	$	96.8	$	7.7	$	104.5
Capital expenditures	25.3		42.5		8.7		76.4		11.1		87.6

(1)Total depreciation and amortization as presented includes charges classified within Cost of revenue and Operating expenses in our Consolidated Statements of Income and Comprehensive Income.

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 December 31,
	2025		2024
Accounts receivable, net:
Aviation segment	$	1,119.7	$	1,166.2
Land segment	592.5		651.1
Marine segment	496.2		615.3
Total accounts receivable, net	$	2,208.5	$	2,432.6
Total assets:
Aviation segment	$	2,588.7	$	2,548.2
Land segment	2,131.3		2,970.6
Marine segment	701.4		929.6
Total reportable segment assets	5,421.4		6,448.5
Corporate and other	442.5		283.3
Total assets	$	5,863.9	$	6,731.8

Schedule of revenue and property and equipment, net, as segregated by geographic location

Information concerning our revenue and property and equipment, net, as segregated between the Americas, EMEA (Europe, Middle East and Africa) and the Asia Pacific regions, is presented as follows, based on the country of incorporation of the relevant subsidiary (in millions):


	For the Year Ended December 31,
	2025		2024		2023
Revenue:
United States	$	19,280.0	$	20,905.1	$	25,403.7
EMEA (1)	7,941.6		9,672.9		10,003.2
Asia Pacific (2)	4,568.4		5,366.0		5,430.7
Americas, excluding United States	5,126.6		6,224.0		6,873.0
Total (3)	$	36,916.6	$	42,168.0	$	47,710.6


	As of December 31,
	2025		2024
Property and equipment, net:
United States	$	226.4	$	325.2
EMEA	76.4		141.4
Asia Pacific	11.7		10.3
Americas, excluding United States	33.8		36.4
Total	$	348.4	$	513.3

(1)Includes revenue related to the U.K. of $3.1 billion, $4.8 billion and $5.3 billion for 2025, 2024 and 2023, respectively.

(2)Includes revenue related to Singapore of $4.5 billion, $5.3 billion and $5.3 billion for 2025, 2024 and 2023, respectively.

(3)Geographic revenue information in this table includes impacts from derivatives and hedging activities, which are excluded from that geographic revenue information presented at Note 13. Revenue from Contracts with Customers.

Goodwill and Identifiable Intangible Assets - Goodwill (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Dec. 31, 2025	Jun. 30, 2025	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Goodwill [Roll Forward]
Balance at the beginning of the period			$ 1,181.7	$ 1,238.0
Acquisitions			81.3	17.5
Goodwill, Impairment Loss			(528.3)
Goodwill, Written off Related to Sale of Business Unit			(18.2)	(68.2)
Goodwill, Other Increase (Decrease)			15.0
Foreign currency translation of non-USD functional currency subsidiary goodwill			6.0	(5.6)
Balance at the end of the period	$ 737.5		737.5	1,181.7	$ 1,238.0
Aviation
Goodwill [Roll Forward]
Balance at the beginning of the period			354.4	398.3
Acquisitions			81.3	17.5
Goodwill, Impairment Loss			0.0
Goodwill, Written off Related to Sale of Business Unit			0.0	(59.5)
Goodwill, Other Increase (Decrease)			0.0
Foreign currency translation of non-USD functional currency subsidiary goodwill			0.1	(1.9)
Balance at the end of the period	435.8		435.8	354.4	398.3
Land
Goodwill [Roll Forward]
Balance at the beginning of the period			827.3	839.7
Acquisitions			0.0	0.0
Goodwill, Impairment Loss	(169.3)	$ (359.0)	(528.3)	0.0	0.0
Goodwill, Written off Related to Sale of Business Unit			(18.2)	(8.7)
Goodwill, Other Increase (Decrease)			15.0
Foreign currency translation of non-USD functional currency subsidiary goodwill			5.9	(3.8)
Balance at the end of the period	301.7		$ 301.7	$ 827.3	$ 839.7
Land \| Disposal Group, Not Discontinued Operations [Member] \| Land Fuel Transportation and Lubricants Group [Member]
Goodwill [Roll Forward]
Goodwill, Impairment Loss	$ (35.3)

Income Taxes - Cash Paid for Income Taxes (Federal, State, Foreign) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Cash Paid for Income Taxes, Net of Refunds [Line Items]
Federal	$ 36.9
State	2.3
Foreign	57.8
Total cash paid for income taxes, net of refunds received (1)	$ 97.0	$ 51.6	$ 42.0

Debt, Interest Income, Expense, and Other Finance Costs - Aggregate Annual Maturities (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Year Ended December 31,
2026	$ 9.3
2027	11.7
2028	365.9
2029	17.2
2030	292.9
Thereafter	0.0
Total debt	$ 697.1	$ 880.8

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of U.S. and foreign income before income taxes

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


	Year Ended December 31,
	2025		2024		2023
United States	$	(609.9)	$	(20.5)	$	(34.8)
Foreign	(129.8)		116.1		101.5
Income (loss) before income taxes	$	(739.7)	$	95.5	$	66.7

Schedule of components of income tax provision (benefit)

Our total income tax expense (benefit) related to income before income taxes consists of the following components (in millions):


	Year Ended December 31,
	2025		2024		2023
Current:
U.S. federal statutory tax	$	13.4	$	8.4	$	8.9
State	1.3		1.8		2.4
Foreign	32.8		40.1		23.4
Current income tax expense (benefit)	47.4		50.2		34.8
Deferred:
U.S. federal statutory tax	(136.9)		(3.3)		(12.7)
State	(44.6)		(1.3)		(1.1)
Foreign	5.1		(10.6)		(16.9)
Deferred income tax expense (benefit)	(176.4)		(15.3)		(30.7)
Non-current tax expense (benefit) (1)	1.0		(7.4)		8.9
Total income tax expense (benefit)	$	(127.9)	$	27.6	$	13.0

(1)Non-current tax expense (benefit) is primarily related to income tax associated with the reserve for uncertain tax positions, including associated interest and penalties.

Schedule of Cash Flow, Supplemental Disclosures

Cash paid for income taxes, net of refunds received, consists of the following (in millions):


	Year Ended December 31, 2025

Federal	$	36.9
State	2.3
Foreign	57.8
Total cash paid for income taxes, net of refunds received (1)	$	97.0

(1)Total cash paid for income taxes, net of refunds received, was $51.6 million and $42.0 million for the years ended December 31, 2024 and 2023, respectively.

Cash paid for income taxes, net of refunds received, to individual jurisdictions in excess of 5% of total income taxes paid, net of refunds received, is as follows (in millions):


	Year Ended December 31, 2025












Foreign:
Denmark	$	7.6
Netherlands	5.2
Singapore	9.6
United Kingdom	23.8
Other foreign jurisdictions	11.6

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

A reconciliation of our tax provision and effective tax rate to the tax provision calculated using the U.S. federal statutory income tax rate is as follows (in millions):


	Year Ended December 31, 2025
Tax provision based on U.S. federal statutory tax rate	$	(155.3)	21.0	%
State and local income tax, net of federal (national) income tax effect (1)	(29.3)		4.0	%
Foreign tax effects:
Norway:
Changes in valuation allowances	20.5		(2.8)	%
Other	1.0		(0.1)	%
United Kingdom:
Changes in valuation allowances	9.6		(1.3)	%
Goodwill impairment	20.5		(2.8)	%
Sale of business	19.7		(2.7)	%
Other	(8.2)		1.1	%
Foreign tax effects - all other	17.5		(2.4)	%

Effect of cross-border tax laws:
GILTI	8.6		(1.2)	%
U.S. tax on branch income (loss)	(43.5)		5.9	%
Other	9.5		(1.3)	%
Tax credits:
Foreign tax credits	(19.3)		2.6	%
Changes in valuation allowances	0.9		(0.1)	%

Nontaxable or nondeductible items	0.1		—	%
Changes in unrecognized tax benefits	1.0		(0.1)	%
Other adjustments:
Sale of business	15.3		(2.1)	%
Other	3.4		(0.5)	%








Effective tax rate	$	(127.9)	17.3	%

(1)State taxes in Florida, California, Illinois, and New York made up the majority (greater than 50 percent) of the tax effect for this category.

A reconciliation of the income tax expense (benefit) calculated using the U.S. federal statutory income tax rate to our tax provision is as follows (in millions):


	Year Ended December 31,
	2024		2023
Tax provision based on U.S. federal statutory tax rate	$	20.1	$	14.0
Foreign rates varying from federal statutory tax rate	(0.2)		(1.5)
State income taxes, net of U.S. federal income tax benefit	2.2		7.5
U.S. taxes on foreign earnings and other tax reform impacts	10.3		9.4
Uncertain tax positions	(7.4)		8.9
Statutory adjustments, including foreign currency and tax rate changes	4.9		(9.2)
Non-taxable interest income & non-deductible interest expense	0.5		(3.3)
Valuation allowances	4.0		(10.9)
Non-deductible officer compensation	1.2		1.8
Withholding tax	10.0		8.0
Foreign tax credit	(18.6)		(13.2)
Sale of Avinode business	12.4		—
Sale of Brazil business	(6.0)		—
Worthless stock deduction	(6.2)		—
Other	0.6		1.5
Total income tax expense (benefit)	$	27.6	$	13.0

Schedule of net deferred tax liabilities

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


	As of December 31,
	2025		2024
Gross Deferred Tax Assets:
Bad debt reserve and accrued expenses	$	13.5	$	10.1
Net operating loss	79.9		62.5
Accrued and other share-based compensation	26.3		22.7
Goodwill and intangible assets	29.8		—
U.S. foreign income tax credits	49.5		29.3
Unrealized foreign exchange, derivatives, and cash flow hedges	3.2		—
Interest expense limitations	82.6		75.2
Other	9.3		9.0
Total gross deferred tax assets	294.2		208.9
Less: Valuation allowance (1)	46.2		16.8
Gross deferred tax assets, net of valuation allowance	247.9		192.0
Gross Deferred Tax Liabilities:
Depreciation	(28.6)		(33.6)
Goodwill and intangible assets	—		(108.1)
Unrealized foreign exchange, derivatives, and cash flow hedges	—		(1.8)
Deferred tax costs on foreign unrepatriated earnings	(15.9)		(10.1)
Other	(3.0)		(5.2)
Total gross deferred tax liabilities	(47.6)		(158.8)
Net deferred tax liability	$	—	$	—
Net deferred tax asset	$	200.4	$	33.2
Reported on the Consolidated Balance Sheets as:
Other non-current assets for deferred tax assets, non-current	$	214.2	$	78.8
Other long-term liabilities, net for deferred tax liabilities, non-current	$	13.8	$	45.6

(1)During the year ended December 31, 2025, we recognized additional valuation allowances of $36.6 million relating primarily to the establishment of a valuation allowance on foreign subsidiaries and the 2025 results of certain of our worldwide entities, and released valuation allowances totaling $7.2 million.

Summary of Operating Loss Carryforwards

This deferred tax asset expires as follows (in millions):


Net Operating Loss	Expiration Date	Deferred Tax Asset
US Federal	Indefinite	$	5.5
US States	2026-2045	11.3
US States	Indefinite	6.2
Foreign	2025-2044	6.6
Foreign	Indefinite	50.4
Total		$	79.9

Summary of income tax concessions

The decrease to our foreign income taxes from the Singapore tax concession was as follows (in millions, except per share amounts):


	Year Ended December 31,
	2025		2024		2023
Singapore tax concession impact on foreign income tax	$	(1.0)	$	(2.5)	$	(2.1)
Impact on basic earnings per share	$	(0.02)	$	(0.04)	$	(0.03)
Impact on diluted earnings per share	$	(0.02)	$	(0.04)	$	(0.03)

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

The following is a tabular reconciliation of the total amounts of gross Unrecognized Tax Liabilities for the year (in millions):


	Year Ended December 31,
	2025		2024		2023
Gross Unrecognized Tax Liabilities – opening balance	$	61.8	$	73.1	$	68.1
Gross increases – tax positions in prior period	8.9		1.5		7.7
Gross decreases – tax positions in prior period	(1.1)		(8.8)		(0.4)
Gross increases – tax positions in current period	2.4		2.2		1.4
Gross decreases – tax positions in current period	(0.3)		—		—
Settlements	(2.0)		(3.0)		(0.5)

Lapse of statute of limitations	(4.4)		(3.1)		(3.2)
Gross Unrecognized Tax Liabilities – ending balance	$	65.4	$	61.8	$	73.1

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

The following table summarizes open tax years by major jurisdiction:


	Open Tax Year
Jurisdiction	Examination in progress	Examination not yet initiated
Denmark	2013-2021	2022-2025
United States	2020	2022-2025
United Kingdom	None	2024-2025
Singapore	None	2022-2025
Other non-U.S.	None	2015-2025

Commitments and Contingencies - Bonds, Leases, and Sales and Purchase Commitments (Details) bbl in Millions, $ in Millions	Dec. 31, 2025 USD ($) bbl	Dec. 31, 2024 USD ($)
Long-term Purchase Commitment [Line Items]
Outstanding bonds	$ 65.5	$ 65.8
Sales commitments under derivative programs	761.6
Purchase commitments under derivative programs	$ 246.4
Aviation Fuel \| Maximum
Long-term Purchase Commitment [Line Items]
Purchase Commitments, Volume \| bbl	2.0

Fair Value Measurements

12 Months Ended

Dec. 31, 2025

Fair Value Disclosures [Abstract]

Fair Value Measurements

5. Fair Value Measurements

The carrying amounts of cash and cash equivalents, net accounts receivable, accounts payable and accrued expenses and other current liabilities approximate fair value based on their short-term maturities. With the exception of the Convertible Notes, as discussed in Note 9. Debt, Interest Income, Expense, and Other Finance Costs, the carrying values of our debt and notes receivable approximate fair value as these instruments bear interest either at variable rates or fixed rates, which are not significantly different from market rates. The fair value measurements for our debt and notes receivable are considered to be Level 2 measurements based on the fair value hierarchy.

Recurring Fair Value Measurements

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


	Fair Value Measurements as of December 31, 2025
		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total Fair Value
Assets:
Commodities contracts		$	113.4	$	159.6	$	10.7	$	283.7

Foreign currency contracts		—		7.6		—		7.6
Cash surrender value of life insurance		—		20.1		—		20.1
Total assets at fair value		$	113.4	$	187.3	$	10.7	$	311.4

Liabilities:
Commodities contracts		$	118.5	$	96.4	$	3.8	$	218.6

Foreign currency contracts		—		9.8		—		9.8
Total liabilities at fair value		$	118.5	$	106.1	$	3.8	$	228.4


	Fair Value Measurements as of December 31, 2024
		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total Fair Value
Assets:
Commodities contracts		$	157.4	$	300.8	$	9.4	$	467.6
Interest rate contract		—		2.9		—		2.9
Foreign currency contracts		—		29.1		—		29.1
Cash surrender value of life insurance		—		20.0		—		20.0
Total assets at fair value		$	157.4	$	352.8	$	9.4	$	519.6

Liabilities:
Commodities contracts		$	165.9	$	209.1	$	3.7	$	378.7

Foreign currency contracts		—		22.9		—		22.9
Total liabilities at fair value		$	165.9	$	232.0	$	3.7	$	401.6

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.

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. The following tables summarize those derivative balances subject to the right of offset as presented on our Consolidated Balance Sheets (in millions):


	Fair Value as of December 31, 2025
	Gross Amounts Recognized		Gross Amounts Offset		Net Amounts Presented		Cash Collateral		Gross Amounts Without Right of Offset		Net Amounts
Assets:
Commodities contracts	$	283.7	$	151.3	$	132.4	$	8.2	$	—	$	124.2

Foreign currency contracts	7.6		6.5		1.1		—		—		1.1
Total assets at fair value	$	291.3	$	157.8	$	133.5	$	8.2	$	—	$	125.3

Liabilities:
Commodities contracts	$	218.6	$	151.3	$	67.4	$	6.0	$	—	$	61.3

Foreign currency contracts	9.8		6.5		3.3		—		—		3.3
Total liabilities at fair value	$	228.4	$	157.8	$	70.6	$	6.0	$	—	$	64.6


	Fair Value as of December 31, 2024
	Gross Amounts Recognized		Gross Amounts Offset		Net Amounts Presented		Cash Collateral		Gross Amounts Without Right of Offset		Net Amounts
Assets:
Commodities contracts	$	467.6	$	253.2	$	214.4	$	0.1	$	—	$	214.3
Interest rate contract	2.9		—		2.9		—		—		2.9
Foreign currency contracts	29.1		20.7		8.5		—		—		8.5
Total assets at fair value	$	499.6	$	273.9	$	225.8	$	0.1	$	—	$	225.6

Liabilities:
Commodities contracts	$	378.7	$	253.2	$	125.5	$	12.1	$	—	$	113.4

Foreign currency contracts	22.9		20.7		2.3		—		—		2.3
Total liabilities at fair value	$	401.6	$	273.9	$	127.8	$	12.1	$	—	$	115.6

At December 31, 2025 and 2024, we did not present any amounts gross on our Consolidated Balance Sheets where we had the right to offset.

Concentration of Credit Risk

Our 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 December 31, 2025, none of our counterparties represented over 10% of our credit exposure to OTC derivative counterparties.

Nonrecurring Fair Value Measurements

The following table summarizes our goodwill and other asset impairment charges and related nonrecurring fair value measurements (in millions):


	Year Ended December 31,
	2025		2024		2023
Goodwill impairment (1)	$	528.3	$	—	$	—
Land Fuel Transportation and Lubricants disposal group impairment (2)	49.7		—		—
Watson Fuels asset group impairment (3)	44.5		—		—
Falmouth disposal group impairment (4)	35.0		—		—
Intangible asset impairments (5)	21.0		—		—
Asset impairments associated with exit activities (6)	5.8		3.1		11.2
Cost method investment impairments (7)(8)	5.4		—		5.0
Equity method investment impairments (9)	—		18.2		14.1
Other	—		7.7		2.5
Goodwill and other asset impairments total	$	689.6	$	29.0	$	32.8

(1)See Note 7. Goodwill and Identifiable Intangible Assets for additional disclosures related to goodwill impairments recognized during the year ended December 31, 2025.

(2)See Note 2. Acquisitions and Divestitures for additional disclosures related to asset impairment charges related to the Land Fuel Transportation and Lubricants disposal group.

(3)During the first quarter of 2025, we identified an impairment indicator with respect to the Watson Fuels asset group within our land segment. We determined that the carrying amount was not recoverable and recognized an asset impairment charge of $44.5 million during the three months ended March 31, 2025. The fair value of the asset group was determined based on a market approach using the estimated sale proceeds for the Watson Fuels sale. The measurement is categorized as Level 2 within the fair value hierarchy. As discussed in Note 2. Acquisitions and Divestitures, we completed the Watson Fuels sale on April 9, 2025.

(4)During the second quarter of 2025, we identified impairment indicators with respect to the Falmouth asset group within our marine segment. We determined that the carrying amount of the Falmouth asset group was not recoverable and recognized an asset impairment charge of $31.6 million. The fair value of the asset group, excluding the related land, was determined to be nominal based on an income approach using a discounted cash flow methodology. As a result the full carrying amount of the long-lived assets, excluding the related land, was impaired. The fair value measurement is categorized as Level 3 within the fair value hierarchy. As discussed in 2. Acquisitions and Divestitures, during the fourth quarter of 2025, management further assessed the Falmouth asset group as a disposal group under the held for sale impairment model and recognized an additional impairment charge of $3.3 million.

(5)During the second quarter of 2025, we identified impairment indicators with respect to certain trade names and trademarks as a result of steps taken to consolidate branding within our land segment. We determined that the carrying value of the assets was not recoverable and recognized an asset impairment charge of $8.0 million, which represents a full impairment of the related intangible assets. The fair value measurement is categorized as Level 3 within the fair value hierarchy. During the fourth quarter of 2025, we recognized an asset impairment charge of $13.0 million related to certain trade names and trademarks as a result of a significant reduction in the projected cash flows for certain lines of business within our land segment. We determined that the carrying value of the assets was not recoverable and recognized a partial impairment of the related intangible assets to reduce the carrying value of the trade names and trademarks to their estimated fair value of $16.3 million.

(6)See Note 16. Restructuring and Exit Activities for additional disclosures related asset impairment charges recognized in connection with restructuring and exit activities.

(7)During the fourth quarter of 2025, we identified an impairment indicator with respect to one of our investees, accounted for as a cost method investment, which has experienced sustained deterioration in its financial condition and operating outlook, resulting in continued pressure on expected future cash flows and constrained access to external capital on terms sufficient to support the carrying value of our investment. As a result, the fair value of the investment was determined to be nominal and the investment was fully impaired. Due to the significance of unobservable inputs, the measurement is categorized as Level 3.

(8)During the fourth quarter of 2023, we identified an impairment indicator with respect to one of our investees, accounted for as a cost method investment, which we were notified is not able to raise capital and therefore intends to restructure its operations. As a result, the fair value of the investment was determined to be nominal and the investment was fully impaired. Due to the significance of unobservable inputs, the measurement is categorized as Level 3.

(9)During the fourth quarter of 2023, we identified an other-than-temporary impairment indicator with respect to an equity method investment in a non-core business within corporate and other due to the inability of the investee to sustain an earning capacity at its pre-pandemic levels. At that time, the investment was written down to its fair value of $19.1 million (15.0 million GBP) as of December 31, 2023, resulting in the recognition of an impairment loss of $14.1 million during the three months ended December 31, 2023. During the fourth quarter of 2024, we identified an impairment indicator with respect to the same investment, as the investee continues to incur operating losses and has been unable to achieve expected results. The fair value of the investment was determined to be nominal and as a result the full carrying amount of the investment was impaired. The fair value of the investment was measured in each period using a combination of an income approach based on estimated future cash flows available to us as of the measurement dates and a market approach using a selection of global companies comparable with the operations of the investee to derive market-based multiples. Due to the significance of unobservable inputs, the measurements are categorized as Level 3.

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
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-Topic 820
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-Section 55
-Paragraph 107
-Publisher FASB
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Reference 3: http://www.xbrl.org/2003/role/exampleRef
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-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Shareholders' Equity - RSU Awards (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
RSUs
Awards Outstanding
Balance at the beginning of the period (in shares)	2.7	3.0	3.0
Granted (in shares)	0.8	0.8	1.3
Vested (in shares)	(0.9)	(0.8)	(0.8)
Forfeited (in shares)	(0.7)	(0.4)	(0.5)
Balance at the end of the period (in shares)	1.9	2.7	3.0	3.0
Weighted Average Grant Date Fair Value Price
Balance at the beginning of the period (in dollars per share)	$ 25.80	$ 25.99	$ 26.41
Granted (in dollars per share)	27.19	25.46	23.48
Vested (in dollars per share)	24.36	25.41	25.16
Forfeited (in dollars per share)	30.07	27.36	23.24
Balance at the end of the period (in dollars per share)	$ 25.45	$ 25.80	$ 25.99	$ 26.41
Aggregate Intrinsic Value	$ 44.4	$ 73.1	$ 67.9	$ 81.4
Weighted Average Remaining Contractual Life (in Years)	1 year 8 months 12 days	1 year 10 months 24 days	1 year 6 months	1 year 7 months 6 days
Aggregate Intrinsic Value - Vested	$ 23.2	$ 19.4	$ 18.2
SSAR Awards
Weighted Average Grant Date Fair Value Price
Balance at the end of the period (in shares)	0.0	0.1	0.3	0.5
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price	$ 0	$ 23.39	$ 26.09	$ 26.35
Aggregate Intrinsic Value	$ 0.0	$ 0.6	$ 0.0	$ 0.8
SSAR Awards (in shares)	0.0	0.1	0.3	0.4
Weighted Average Exercise Price (in dollars per share)	$ 0	$ 23.39	$ 26.09	$ 27.43
Aggregate Intrinsic Value	$ 0.0	$ 0.6	$ 0.0	$ 0.3

Supplier Finance Programs

12 Months Ended

Dec. 31, 2025

Payables and Accruals [Abstract]

Supplier Finance Programs

8. Supplier Finance Programs

Under various supplier finance programs, we agree to pay counterparties engaged as paying agents the stated amount of confirmed invoices from our designated suppliers on the original maturity date of the invoices. Under certain of these arrangements, we may also pay fees for the supplier finance platform and related support.

The rollforward of our outstanding obligations confirmed under our supplier finance programs, included in Accounts payable within our Consolidated Balance Sheets, is as follows (in millions):


	2025		2024
Confirmed obligations outstanding as of January 1,	$	168.8	$	198.8
Obligations confirmed during the period	1,522.7		1,213.1
Confirmed invoices paid during the period	(1,481.4)		(1,243.1)
Confirmed obligations outstanding as of December 31,	$	210.1	$	168.8

Acquisitions and Divestitures

12 Months Ended

Dec. 31, 2025

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

Acquisitions and Divestitures

2. Acquisitions and Divestitures

Assets and Liabilities Held for Sale

Land Fuel Transportation and Lubricants Disposal Group

The Land Fuel Transportation and Lubricants disposal group assets were assessed for impairment under the held for sale impairment model during the fourth quarter of 2025. As a result, impairment charges totaling $85.1 million were recognized to reduce the carrying amount of the disposal group to its estimated fair value less costs to sell. The total impairment charge included approximately $35.3 million of goodwill that was allocated to the Land Fuel Transportation and Lubricants disposal group, as well as $49.7 million related to the long-lived assets included within the disposal group. The remaining carrying value of disposal group assets and liabilities have been reclassified to Other current assets and Accrued expenses and other current liabilities, respectively, within our Consolidated Balance Sheet.

In February 2026, we executed definitive agreements to sell the majority of the Land Fuel Transportation and Lubricants disposal group for total cash proceeds of approximately $80.0 million, subject to inventory and other adjustments. Closing of the transaction is subject to customary closing conditions and is expected to be completed during the second quarter of 2026. We do not expect to recognize a material gain or loss on sale upon closing of the transaction, as the carrying value of the disposal group as of December 31, 2025 reflects its estimated fair value less costs to sell.

Falmouth Disposal Group

Also during the fourth quarter of 2025, the Company decided to significantly reduce trading activity at the Falmouth terminal and actively pursue a sale of the terminal and related assets. The Falmouth disposal group has historically been reported within the marine segment. The Falmouth disposal group does not meet the criteria to be reported as a discontinued operation, however the assets and liabilities within the disposal group met the criteria to be classified as held for sale as of December 31, 2025.

The Falmouth disposal group assets were assessed for impairment under the held for sale impairment model during the fourth quarter of 2025. As a result, an impairment charge of $3.3 million was recognized to reduce the carrying amount of the Falmouth terminal land within the disposal group to its estimated fair value less costs to sell. The remaining carrying value of disposal group assets and liabilities have been reclassified to Other current assets and Accrued expenses and other current liabilities, respectively, within our Consolidated Balance Sheet.

The following table summarizes the carrying value of the Land Fuel Transportation and Lubricants and Falmouth disposal group assets and liabilities classified as held for sale (in millions):


	December 31, 2025
Cash and cash equivalents	$	0.6
Accounts receivable, net	0.2
Inventories	35.9
Prepaid expenses and other current assets	0.3
Property and equipment, net	51.1
Intangible assets, net	8.5
Other non-current assets	11.7
Total assets held for sale	$	108.2

Accounts payable	$	0.3
Accrued expenses and other liabilities	4.8
Long-term portion of finance lease obligations	5.2
Other long-term liabilities	18.1
Total liabilities held for sale	$	28.3

2025 Acquisitions

On September 3, 2025, we entered into a definitive agreement with Universal Weather and Aviation to acquire their Trip Support Services division ("Universal TSS"). The acquisition closed on November 5, 2025 for total estimated consideration of $207.0 million, subject to customary adjustments relating to net working capital. At closing, $154.4 million was paid in cash and $60.0 million remains payable over the next four years. The acquisition was accounted for as a business combination and is reported in the aviation segment.

We are in the process of obtaining information to identify and measure all assets acquired and liabilities assumed. The following preliminary purchase price allocation was estimated based on the information obtained to date and is expected to be completed in 2026. The following table summarizes the estimated fair value of the aggregate consideration, and the preliminary allocation of the purchase price to the fair value of the assets acquired and liabilities assumed (in millions):


	Total
Consideration:
Cash paid at closing	$	154.4

Amount due to sellers (1)	52.6
Total fair value of consideration	$	207.0

Assets acquired and liabilities assumed:
Cash	$	0.8
Accounts receivable	19.6
Prepaid expenses and other current assets	0.5
Property, plant and equipment	0.3
Identifiable intangible assets subject to amortization (2)	87.5
Identifiable intangible assets not subject to amortization (3)	23.1
Accounts payable	(1.6)
Other assets and liabilities, net (4)	(4.4)
Net identifiable assets acquired	125.8
Goodwill	81.3
Net assets acquired	$	207.0

(1)Represents expected payments of $15.0 million per year over each of the next four years, discounted to present value at the date of acquisition.

(2)Identifiable intangible assets subject to amortization primarily consist of customer relationships and other identifiable assets which will be amortized over a weighted average life of 18.4 years.

(3)Identifiable intangible assets not subject to amortization include trademarks and trade names acquired.

(4)Includes the recognition of right of use assets of $1.3 million and lease liabilities of $1.3 million.

(5)Goodwill is attributable primarily to the expected synergies and other benefits that we believe will result from combining the acquired operations with the operations of our aviation segment. All of the goodwill assigned to the aviation segment was deductible for tax purposes.

Total revenue and loss before income taxes of Universal TSS included in the Company's Consolidated Statements of Income and Comprehensive Income for the period from the date of acquisition through December 31, 2025 were $27.8 million and $0.5 million, respectively.

The following presents unaudited pro forma combined financial information of the Company for the years ended December 31, 2025 and 2024 as if the acquisition of Universal TSS had been completed on January 1, 2024 (in millions):


	For the Year Ended December 31,
(unaudited)	2025		2024
Revenue	$	37,118.9	$	42,416.0
Net income (loss) attributable to World Kinect	$	(605.7)	$	78.9

The unaudited pro forma combined financial information was based on the historical financial information of Universal TSS and includes (i) incremental amortization expense to be incurred based on the fair values of the identifiable intangible assets acquired; (ii) additional interest expense associated with the incremental borrowings under our Credit Facility to finance the acquisition and the accretion of the discount on the present value of future payments; (iii) nonrecurring transaction costs recognized in connection with the transaction; and (iv) the tax effect of the pro forma adjustments as well as the recognition of income tax expense associated with Universal TSS' historical statements, calculated using statutory tax rates, as Universal TSS was comprised of limited liability companies not subject to federal and state income taxes prior to the acquisition. The unaudited pro forma combined financial information does not necessarily reflect what the combined company's financial condition or results of operations would have been had the transaction and the related financing occurred on the dates indicated. The unaudited pro forma financial information also may not be useful in predicting the future financial condition and results of operations of the combined company following the transaction. In addition, the unaudited pro forma combined financial information does not give effect to any cost savings, operating synergies or revenue synergies that may result from the transaction, or the costs to achieve any such synergies.

2025 Divestitures

On April 9, 2025, we signed and closed on the sale of WFL (UK) Ltd., which represents our U.K. land fuels business (the "Watson Fuels asset group"), for total proceeds of $42.8 million, of which $23.6 million was collected in cash at closing (the "Watson Fuels sale"). As discussed in Note 5. Fair Value Measurements, during the first quarter of 2025, we recognized an asset impairment charge of $44.5 million with respect to the Watson Fuels asset group assets. The Watson Fuels sale resulted in a pre-tax loss of $81.7 million, net of costs to sell and after the reclassification of cumulative translation losses of $55.1 million, that is included in Other income (expense), net within our Consolidated Statements of Income and Comprehensive Income. The related tax benefit of $6.3 million is included in Income tax expense (benefit) within our Consolidated Statements of Income and Comprehensive Income. Prior to the Watson Fuels sale, the Watson Fuels asset group was reported within our land segment. The Watson Fuels sale did not meet the criteria to be reported as a discontinued operation.

2024 Divestitures

On May 1, 2024, we completed the sale of our Avinode Group and our portfolio of aviation fixed-based operator software products (the "Avinode disposal group") for cash proceeds, net of cash sold, of $200.1 million (the "Avinode sale"). The Avinode sale resulted in a pre-tax gain of $96.0 million, net of costs to sell and after the reclassification of cumulative translation losses of $17.1 million to net income, that is included in Other income (expense), net within our Consolidated Statements of Income and Comprehensive Income. The related tax expense of $12.4 million is included in Income tax expense (benefit) within our Consolidated Statements of Income and Comprehensive Income. Prior to the Avinode sale, the Avinode disposal group was reported within our aviation segment. The Avinode sale did not meet the criteria to be reported as a discontinued operation.

On December 13, 2024, we completed the sale of our land and marine subsidiaries in Brazil (the "Brazil disposal group") for cash proceeds, net of cash sold, of $8.9 million (the "Brazil sale"). The Brazil sale resulted in a pre-tax loss of $111.2 million, net of costs to sell and after the reclassification of cumulative translation losses of $80.0 million to net income, that is included in Other income (expense), net within our Consolidated Statements of Income and Comprehensive Income. The related tax benefit of $6.0 million is included in Income tax expense (benefit) within our Consolidated Statements of Income and Comprehensive Income. Prior to the Brazil sale, the Brazil disposal group was reported within the land and marine segments. The Brazil sale did not meet the criteria to be reported as a discontinued operation.

Business Segments, Geographic Information, and Major Customers

12 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

Business Segments, Geographic Information, and Major Customers

15. Business Segments, Geographic Information, and Major Customers

Business Segments

We operate in three reportable segments consisting of aviation, land, and marine. Our operating segments are determined based on the different markets in which we provide products and services, which are defined primarily by the customers (businesses and governmental) and the products and services provided to those customers. Our Chief Executive Officer is the CODM. The CODM uses Income from operations as the primary measure of segment profit. The CODM considers Income from operations when assessing budget to actual variances as part of the annual budgeting and forecasting process, in order to evaluate performance and make decisions about the allocation of capital and other resources to each segment.

In our aviation segment, we provide global aviation fuel supply and comprehensive service solutions to major commercial, international, and regional airlines, cargo carriers, airports, fixed-based operators, corporate fleets, and charter and fractional operators. We also supply fuel and provide services to U.S. and foreign government and military customers.

In our land segment, we sell liquid fuels, natural gas, and related products and services to commercial, industrial, and government customers, as well as retail fuel outlets under long-term contracts. As discussed in Note 16. Restructuring and Exit Activities, management has initiated actions to execute a plan to exit certain operations within the land segment, including direct fuel transportation services, lubricants, heating oil, power, and certain advisory and sustainability offerings, that are no longer profitable or not aligned with the Company's core business and corporate strategy.

In our marine segment, we market fuel, lubricants, and related products and services to a broad base of marine customers, including international container, dry bulk and tanker fleets, commercial cruise lines, yachts and time-charter operators, 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. Certain corporate expenses are allocated to the segments based on usage, where possible, or on other factors according to the nature of the activity.

Information concerning our revenue, significant segment expenses, and income from operations by segment is as follows (in millions):


	For the Year Ended December 31, 2025
	Aviation		Land		Marine		Total
Revenue	$	18,993.6	$	10,240.0	$	7,683.1	$	36,916.6
Segment expenses:
Cost of revenue	(18,467.3)		(9,941.6)		(7,560.0)		(35,968.8)
Compensation and related costs	(118.2)		(144.4)		(32.4)		(294.9)
Incentive compensation	(27.1)		(10.2)		(8.8)		(46.2)
Corporate allocations (1)	(37.5)		(16.2)		(21.1)		(74.8)
Depreciation and amortization	(17.9)		(35.4)		(1.1)		(54.5)
Provision for credit losses	(5.1)		1.6		(0.4)		(3.9)
Goodwill and other asset impairments	0.1		(654.7)		(35.1)		(689.6)
Restructuring and exit costs	(6.9)		(65.8)		(1.8)		(74.5)
Other segment expenses (2)	(54.5)		(66.1)		(21.4)		(142.0)
Operating income - segment profit (loss)	259.1		(692.6)		0.9		(432.6)
Unallocated corporate expenses (3)							(132.2)
Interest expense and other financing costs, net							(100.6)
Other income (expense), net							(74.3)
Income (loss) before income taxes							$	(739.7)


	For the Year Ended December 31, 2024
	Aviation		Land		Marine		Total
Revenue	$	20,469.1	$	12,811.7	$	8,887.2	$	42,168.0
Segment expenses:
Cost of revenue	(19,983.6)		(12,427.2)		(8,730.8)		(41,141.6)
Compensation and related costs	(114.0)		(175.6)		(32.7)		(322.3)
Incentive compensation	(26.0)		(17.9)		(12.6)		(56.6)
Corporate allocations (1)	(37.2)		(17.1)		(22.1)		(76.4)
Depreciation and amortization	(16.2)		(37.8)		(1.1)		(55.1)
Provision for credit losses	(2.5)		(10.2)		0.7		(12.1)
Goodwill and other asset impairments	(0.1)		(6.9)		—		(7.0)
Restructuring and exit costs	(0.1)		(3.2)		(3.3)		(6.6)
Other segment expenses (2)	(49.0)		(74.6)		(20.4)		(144.0)
Operating income - segment profit (loss)	240.4		41.1		64.8		346.3
Unallocated corporate expenses (3)							(135.7)
Interest expense and other financing costs, net							(102.2)
Other income (expense), net							(12.9)
Income (loss) before income taxes							$	95.5


	For the Year Ended December 31, 2023
	Aviation		Land		Marine		Total
Revenue	$	23,275.1	$	15,189.9	$	9,245.6	$	47,710.6
Segment expenses:
Cost of revenue	(22,789.3)		(14,790.1)		(9,073.0)		(46,652.4)
Compensation and related costs	(124.7)		(176.4)		(33.1)		(334.2)
Incentive compensation	(31.5)		(29.3)		(13.2)		(74.1)
Corporate allocations (1)	(40.0)		(19.9)		(23.8)		(83.7)
Depreciation and amortization	(19.9)		(38.3)		(1.2)		(59.3)
Provision for credit losses	(2.7)		(2.2)		0.1		(4.8)
Goodwill and other asset impairments	(0.8)		(12.8)		—		(13.7)
Restructuring and exit costs	(1.5)		(4.0)		—		(5.5)
Other segment expenses (2)	(55.9)		(76.8)		(19.1)		(151.8)
Operating income - segment profit (loss)	208.8		40.1		82.3		331.2
Unallocated corporate expenses (3)							(133.2)
Interest expense and other financing costs, net							(127.7)
Other income (expense), net							(3.6)
Income (loss) before income taxes							$	66.7

(1)Includes allocations of compensation costs and general and administrative expenses.

(2)Other segment expenses include professional fees, office expenses and general insurance, technology related expenses, travel and entertainment, and other general and administrative expenses.

Information concerning our capital expenditures and depreciation and amortization by segment is as follows (in millions):


	For the Year Ended December 31, 2025
	Aviation		Land		Marine		Segment Total		Corporate - Unallocated		Consolidated
Depreciation and amortization (1)	$	31.1	$	57.1	$	2.9	$	91.2	$	7.0	$	98.2
Capital expenditures	31.8		19.8		5.4		57.1		8.5		65.6


	For the Year Ended December 31, 2024
	Aviation		Land		Marine		Segment Total		Corporate - Unallocated		Consolidated
Depreciation and amortization (1)	$	28.1	$	67.0	$	3.6	$	98.7	$	7.7	$	106.4
Capital expenditures	34.1		21.5		7.4		63.0		5.2		68.2


	For the Year Ended December 31, 2023
	Aviation		Land		Marine		Segment Total		Corporate - Unallocated		Consolidated
Depreciation and amortization (1)	$	32.0	$	61.3	$	3.6	$	96.8	$	7.7	$	104.5
Capital expenditures	25.3		42.5		8.7		76.4		11.1		87.6

(1)Total depreciation and amortization as presented includes charges classified within Cost of revenue and Operating expenses in our Consolidated Statements of Income and Comprehensive Income.

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


	As of December 31,
	2025		2024
Accounts receivable, net:
Aviation segment	$	1,119.7	$	1,166.2
Land segment	592.5		651.1
Marine segment	496.2		615.3
Total accounts receivable, net	$	2,208.5	$	2,432.6
Total assets:
Aviation segment	$	2,588.7	$	2,548.2
Land segment	2,131.3		2,970.6
Marine segment	701.4		929.6
Total reportable segment assets	5,421.4		6,448.5
Corporate and other	442.5		283.3
Total assets	$	5,863.9	$	6,731.8

Geographic Information


	For the Year Ended December 31,
	2025		2024		2023
Revenue:
United States	$	19,280.0	$	20,905.1	$	25,403.7
EMEA (1)	7,941.6		9,672.9		10,003.2
Asia Pacific (2)	4,568.4		5,366.0		5,430.7
Americas, excluding United States	5,126.6		6,224.0		6,873.0
Total (3)	$	36,916.6	$	42,168.0	$	47,710.6


	As of December 31,
	2025		2024
Property and equipment, net:
United States	$	226.4	$	325.2
EMEA	76.4		141.4
Asia Pacific	11.7		10.3
Americas, excluding United States	33.8		36.4
Total	$	348.4	$	513.3

(1)Includes revenue related to the U.K. of $3.1 billion, $4.8 billion and $5.3 billion for 2025, 2024 and 2023, respectively.

(2)Includes revenue related to Singapore of $4.5 billion, $5.3 billion and $5.3 billion for 2025, 2024 and 2023, respectively.

Major Customers

For the years ended December 31, 2025, 2024, and 2023, none of our customers accounted for more than 10% of total consolidated revenue.

- Definition

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

+ References

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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-40

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/280/tableOfContent

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-41

+ Details

Income Taxes - Reconciliation of the Tax Provision (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Effective Income Tax Rate Reconciliation [Line Items]
Tax provision based on U.S. federal statutory tax rate	$ (155.3)	$ 20.1	$ 14.0
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%
State and local income tax, net of federal (national) income tax effect (1)	$ (29.3)	2.2	7.5
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent	4.00%
Foreign tax effects:		(0.2)	(1.5)
Effective Income Tax Rate Reconciliation, Cross-Border, Other, Percent	(1.30%)
Effective Income Tax Rate Reconciliation, Cross-Border, Other, Amount	$ 9.5
Effective Income Tax Rate Reconciliation, Tax Credit, Percent	2.60%
U.S. taxes on foreign earnings and other tax reform impacts		10.3	9.4
Uncertain tax positions	$ 1.0	(7.4)	8.9
Statutory adjustments, including foreign currency and tax rate changes		4.9	(9.2)
Non-taxable interest income & non-deductible interest expense		0.5	(3.3)
Valuation allowances		4.0	(10.9)
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Other, Percent	0.00%
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Other, Amount	$ 0.1
Change in unrecognized tax benefits, percent	(0.10%)
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount	$ 3.4
Effective Income Tax Rate Reconciliation, Other Adjustments, Percent	(0.50%)
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Share-Based Payment Arrangement, Amount		1.2	1.8
Withholding tax		10.0	8.0
Foreign tax credit	$ (19.3)	(18.6)	(13.2)
Sale of Avinode business		12.4	0.0
Sale of Brazil business		(6.0)	0.0
Effective Income Tax Rate Reconciliation, Deduction, Other, Amount		(6.2)	0.0
Effective Income Tax Rate Reconciliation, Other Reconciling Items, Amount		0.6	1.5
Discrete income tax benefit, net	$ 18.1	$ 3.2
Effective income tax rate	17.30%	28.90%
Effective Income Tax Rate Reconciliation, GILTI, Amount	$ 8.6
Effective Income Tax Rate Reconciliation, GILTI, Percent	(1.20%)
Effective Income Tax Rate Reconciliation, Cross-Border Tax Effect, Amount	$ (43.5)
Effective Income Tax Rate Reconciliation, Cross-Border Tax Effect, Percent	5.90%
Income tax expense (benefit)	$ (127.9)	$ 27.6	$ 13.0
NORWAY
Effective Income Tax Rate Reconciliation [Line Items]
Foreign tax effects:	$ 1.0
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Percent	(0.10%)
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Percent	(2.80%)
Valuation allowances	$ 20.5
U.K.
Effective Income Tax Rate Reconciliation [Line Items]
Foreign tax effects:	$ (8.2)
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Percent	1.10%
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Percent	(1.30%)
Valuation allowances	$ 9.6
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Impairment Losses, Percent	(2.80%)
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Impairment Losses, Amount	$ 20.5
Effective Income Tax Rate Reconciliation, Disposition of Asset, Percent	(2.70%)
Effective Income Tax Rate Reconciliation, Disposition of Asset, Amount	$ 19.7
United States
Effective Income Tax Rate Reconciliation [Line Items]
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Percent	(0.10%)
Valuation allowances	$ 0.9
Effective Income Tax Rate Reconciliation, Disposition of Asset, Percent	(2.10%)
Effective Income Tax Rate Reconciliation, Disposition of Asset, Amount	$ 15.3
Foreign Tax Jurisdiction, Other
Effective Income Tax Rate Reconciliation [Line Items]
Foreign tax effects:	$ 17.5
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Percent	(2.40%)

Fair Value Measurements - Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Assets:
Gross Amounts Recognized	$ 291.3	$ 499.6
Liabilities:
Gross Amounts Recognized	228.4	401.6
Fair value measured on recurring basis
Assets:
Total assets	311.4	519.6
Liabilities:
Total liabilities at fair value	228.4	401.6
Fair value measured on recurring basis \| Level 1
Assets:
Total assets	113.4	157.4
Liabilities:
Total liabilities at fair value	118.5	165.9
Fair value measured on recurring basis \| Level 2
Assets:
Total assets	187.3	352.8
Liabilities:
Total liabilities at fair value	106.1	232.0
Fair value measured on recurring basis \| Level 3
Assets:
Total assets	10.7	9.4
Liabilities:
Total liabilities at fair value	3.8	3.7
Commodity contracts: \| Fair value measured on recurring basis
Assets:
Gross Amounts Recognized	283.7	467.6
Liabilities:
Gross Amounts Recognized	218.6	378.7
Commodity contracts: \| Fair value measured on recurring basis \| Level 1
Assets:
Gross Amounts Recognized	113.4	157.4
Liabilities:
Gross Amounts Recognized	118.5	165.9
Commodity contracts: \| Fair value measured on recurring basis \| Level 2
Assets:
Gross Amounts Recognized	159.6	300.8
Liabilities:
Gross Amounts Recognized	96.4	209.1
Commodity contracts: \| Fair value measured on recurring basis \| Level 3
Assets:
Gross Amounts Recognized	10.7	9.4
Liabilities:
Gross Amounts Recognized	3.8	3.7
Foreign currency exchange contracts: \| Fair value measured on recurring basis
Assets:
Gross Amounts Recognized	7.6	29.1
Liabilities:
Gross Amounts Recognized	9.8	22.9
Foreign currency exchange contracts: \| Fair value measured on recurring basis \| Level 1
Assets:
Gross Amounts Recognized	0.0	0.0
Liabilities:
Gross Amounts Recognized	0.0	0.0
Foreign currency exchange contracts: \| Fair value measured on recurring basis \| Level 2
Assets:
Gross Amounts Recognized	7.6	29.1
Liabilities:
Gross Amounts Recognized	9.8	22.9
Foreign currency exchange contracts: \| Fair value measured on recurring basis \| Level 3
Assets:
Gross Amounts Recognized	0.0	0.0
Liabilities:
Gross Amounts Recognized	0.0	0.0
Cash surrender value of life insurance \| Fair value measured on recurring basis
Assets:
Cash surrender value of life insurance	20.1	20.0
Cash surrender value of life insurance \| Fair value measured on recurring basis \| Level 1
Assets:
Cash surrender value of life insurance	0.0	0.0
Cash surrender value of life insurance \| Fair value measured on recurring basis \| Level 2
Assets:
Cash surrender value of life insurance	20.1	20.0
Cash surrender value of life insurance \| Fair value measured on recurring basis \| Level 3
Assets:
Cash surrender value of life insurance	$ 0.0	0.0
Interest rate contract: \| Fair value measured on recurring basis
Assets:
Gross Amounts Recognized		2.9
Interest rate contract: \| Fair value measured on recurring basis \| Level 1
Assets:
Gross Amounts Recognized		0.0
Interest rate contract: \| Fair value measured on recurring basis \| Level 2
Assets:
Gross Amounts Recognized		2.9
Interest rate contract: \| Fair value measured on recurring basis \| Level 3
Assets:
Gross Amounts Recognized		$ 0.0

Leases (Tables)

12 Months Ended

Dec. 31, 2025

Leases [Abstract]

Lease costs and other information related to leases

We recognized the following total lease cost related to our lease arrangements (in millions):


	Year Ended December 31,
	2025		2024		2023
Finance lease cost:
Amortization of right-of-use assets	$	5.9	$	10.4	$	4.0
Interest on lease liabilities	1.2		2.3		0.7
Operating lease cost	48.0		46.3		44.8
Short-term lease cost	26.4		27.9		27.1
Variable lease cost	8.9		8.3		8.6
Sublease income	(14.4)		(14.9)		(14.5)
Total lease cost	$	76.1	$	80.4	$	70.6

Remaining lease payments

As of December 31, 2025, our remaining lease payments, excluding operating and finance leases classified as held for sale, were as follows (in millions):


	Operating Leases		Finance Leases
2026	$	36.1	$	3.5
2027	29.2		0.3
2028	26.3		0.3
2029	23.4		0.3
2030	22.0		0.2
Thereafter	64.3		0.4
Total remaining lease payments (undiscounted)	201.3		5.1
Less: imputed interest	40.4		0.6
Present value of lease liabilities	$	160.9	$	4.4

Remaining lease payments

As of December 31, 2025, our remaining lease payments, excluding operating and finance leases classified as held for sale, were as follows (in millions):


	Operating Leases		Finance Leases
2026	$	36.1	$	3.5
2027	29.2		0.3
2028	26.3		0.3
2029	23.4		0.3
2030	22.0		0.2
Thereafter	64.3		0.4
Total remaining lease payments (undiscounted)	201.3		5.1
Less: imputed interest	40.4		0.6
Present value of lease liabilities	$	160.9	$	4.4

Supplemental balance sheet information related to leases

Supplemental balance sheet information related to leases, excluding operating and finance leases classified as held for sale (in millions):


		December 31,
	Classification	2025		2024
Assets:
Operating lease assets	Other non-current assets	$	156.2	$	172.5
Finance lease assets	Property and equipment, net	$	1.6	$	29.4

Liabilities:
Operating lease liability - current	Accrued expenses and other current liabilities	$	28.2	$	32.1
Operating lease liability - long-term	Other long-term liabilities	$	132.7	$	144.1
Finance lease liability - current	Current maturities of long-term debt	$	3.4	$	7.6
Finance lease liability - long-term	Long-term debt	$	1.0	$	22.4

Lessee Other Lease Information

We recognized the following cash flows related to our lease arrangements (in millions):


	For the Year Ended December 31,
	2025		2024		2023
Cash paid for amounts included in the measurement of lease liabilities (in millions):
Operating cash flows from finance leases	$	1.3	$	2.3	$	0.7
Operating cash flows from operating leases	$	48.4	$	47.5	$	46.2
Financing cash flows from finance leases	$	5.8	$	10.0	$	4.3
Noncash investing and financing lease activities (in millions):
Right of use assets obtained in exchange for new operating lease liability	$	38.4	$	23.9	$	16.8
Right of use assets obtained in exchange for new finance lease liability	$	4.1	$	24.9	$	3.7

Other information related to leases:


	December 31,
	2025	2024
Weighted average remaining lease term of finance leases (in years)	3.2	4.3
Weighted average remaining lease term of operating leases (in years)	7.8	7.9
Weighted average discount rate of finance leases	5.9%	5.4%
Weighted average discount rate of operating leases	5.6%	5.4%

Debt, Interest Income, Expense, and Other Finance Costs - Narrative (Details) $ / shares in Units, $ in Millions			12 Months Ended
	Dec. 15, 2025 shares	Jun. 26, 2023 USD ($) $ / shares Rate shares	Dec. 31, 2025 USD ($) d $ / shares Rate	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Debt Instrument [Line Items]
Borrowing capacity			$ 2,000.0
Weighted average interest rate on short-term debt			5.60%	6.70%
Sale of warrants			$ 0.0	$ 0.0	$ 40.0
Adjustments to Additional Paid in Capital, Other			0.8
Credit Facility
Debt Instrument [Line Items]
Borrowing capacity			1,650.0	1,500.0
Line Of Credit Facility, Sublimit for Issuance of Letters of Credit			400.0
Limit increase available			350.0
Letters of credit, outstanding amount			93.8	17.9
Unused portion of facility			$ 1,600.0	1,500.0
Debt Instrument, Extension Term			1 year
Credit Facility \| Minimum
Debt Instrument [Line Items]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage			0.225%
Credit Facility \| Maximum
Debt Instrument [Line Items]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage			0.30%
Credit Facility \| Base rate
Debt Instrument [Line Items]
Basis points added to reference rate			0.875%
Credit Facility \| Base rate \| Minimum
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate, Additional Margin			0.50%
Credit Facility \| Base rate \| Maximum
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate, Additional Margin			1.125%
Credit Facility \| Secured Overnight Financing Rate (SOFR) and Alternative Currency [Member]
Debt Instrument [Line Items]
Basis points added to reference rate			1.875%
Credit Facility \| Secured Overnight Financing Rate (SOFR) and Alternative Currency [Member] \| Minimum
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate, Additional Margin			1.50%
Credit Facility \| Secured Overnight Financing Rate (SOFR) and Alternative Currency [Member] \| Maximum
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate, Additional Margin			2.125%
Other Credit Lines
Debt Instrument [Line Items]
Letters of credit, outstanding amount			$ 396.4	360.1
Term Loan
Debt Instrument [Line Items]
Amount of term loan outstanding			$ 350.0
Convertible Senior Notes Due 2028
Debt Instrument [Line Items]
Convertible Debt Conversion Term 1			5
Convertible Debt Conversion Term 2			10
Convertible Debt Conversion Term 3 \| Rate			98.00%
Purchase of Convertible Note Hedges		$ 70.5
Sale of warrants		$ 40.0
Debt Instrument, Interest Rate, Stated Percentage \| Rate		3.25%	3.25%
Debt Instrument, Convertible, Threshold Percentage of Stock Price Trigger \| Rate			130.00%
Debt Instrument, Convertible, Threshold Trading Days \| d			20
Debt Instrument, Convertible, Threshold Consecutive Trading Days \| d			30
Debt Instrument Initial Conversion Share Rate \| shares		35.1710
Debt Instrument, Convertible, Conversion Price \| $ / shares		$ 28.43	$ 28.08
Class of Warrant or Right, Exercise Price of Warrants or Rights \| $ / shares		$ 40.14	$ 39.64
Adjustments to Additional Paid in Capital, Other		$ 30.5
Amortization of Debt Issuance Costs			$ 2.5	2.4	1.2
Interest Expense, Debt, Excluding Amortization			11.4	11.2	6.0
Interest Expense, Debt			$ 13.8	$ 13.6	$ 7.2
Convertible debt aggregate change percentage		1.00%
Convertible Notes Initial Dividend Threshold \| $ / shares		$ 0.14
Debt Instrument Updated Conversion Share Rate \| shares	35.6103

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Income Statement [Abstract]
Revenue	$ 36,916.6	$ 42,168.0	$ 47,710.6
Cost of revenue	35,968.8	41,141.6	46,652.4
Gross profit	947.8	1,026.4	1,058.2
Operating expenses:
Compensation and employee benefits	437.4	482.5	512.3
General and administrative	282.5	297.1	308.0
Goodwill and other asset impairments	689.6	29.0	32.8
Restructuring and Exit Activities Charges	103.1	7.1	7.2
Total operating expenses	1,512.5	815.7	860.2
Income (loss) from operations	(564.7)	210.6	198.0
Non-operating income (expenses), net:
Interest expense and other financing costs, net	(100.6)	(102.2)	(127.7)
Other income (expense), net	(74.3)	(12.9)	(3.6)
Total non-operating income (expense), net	(174.9)	(115.1)	(131.3)
Income (loss) before income taxes	(739.7)	95.5	66.7
Income tax expense (benefit)	(127.9)	27.6	13.0
Net income (loss) including noncontrolling interest	(611.7)	67.9	53.7
Net income (loss) attributable to noncontrolling interest	2.7	0.5	0.8
Net income (loss) attributable to World Kinect	$ (614.4)	$ 67.4	$ 52.9
Basic earnings (loss) per common share (in dollars per share)	$ (10.99)	$ 1.14	$ 0.86
Basic weighted average common shares (in shares)	55.9	59.0	61.4
Diluted earnings (loss) per common share (in dollars per share)	$ (10.99)	$ 1.13	$ 0.86
Diluted weighted average common shares (in shares)	55.9	59.5	61.7
Comprehensive income:
Net income (loss) including noncontrolling interest	$ (611.7)	$ 67.9	$ 53.7
Other comprehensive income (loss):
Foreign currency translation adjustments	74.6	67.4	19.9
Cash flow hedges, net of income tax expense (benefit) of ($0.3), ($3.5), and ($2.7) for 2025, 2024, and 2023, respectively	(0.9)	(9.6)	(8.1)
Total other comprehensive income (loss)	73.7	57.9	11.8
Comprehensive income (loss) including noncontrolling interest	(538.0)	125.8	65.5
Comprehensive income (loss) attributable to noncontrolling interest	2.7	0.5	0.8
Comprehensive income (loss) attributable to World Kinect	$ (540.7)	$ 125.3	$ 64.7

Business Segments, Geographic Information, and Major Customers - Other Income Statement Items (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Depreciation, Depletion and Amortization [Abstract]
Depreciation and amortization	$ 98.2	$ 106.4	$ 104.5
Capital expenditures:
Capital expenditures	65.6	68.2	87.6
Operating Segments
Depreciation, Depletion and Amortization [Abstract]
Depreciation and amortization	91.2	98.7	96.8
Capital expenditures:
Capital expenditures	57.1	63.0	76.4
Operating Segments \| Aviation
Depreciation, Depletion and Amortization [Abstract]
Depreciation and amortization	31.1	28.1	32.0
Capital expenditures:
Capital expenditures	31.8	34.1	25.3
Operating Segments \| Marine
Depreciation, Depletion and Amortization [Abstract]
Depreciation and amortization	2.9	3.6	3.6
Capital expenditures:
Capital expenditures	5.4	7.4	8.7
Operating Segments \| Land
Depreciation, Depletion and Amortization [Abstract]
Depreciation and amortization	57.1	67.0	61.3
Capital expenditures:
Capital expenditures	19.8	21.5	42.5
Corporate
Depreciation, Depletion and Amortization [Abstract]
Depreciation and amortization	7.0	7.7	7.7
Capital expenditures:
Capital expenditures	$ 8.5	$ 5.2	$ 11.1

- Definition

The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets.

+ References + Details

Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of notional positions of derivative instruments

The following table summarizes the gross notional values of our derivative contracts used for risk management purposes (in millions):

Unit

December 31, 2025

Commodity contracts:

Long

BBL

63.9

Short

BBL

(68.2)

Foreign currency exchange contracts:

Sell U.S. dollar, buy other currencies

USD

(434.8)

Buy U.S. dollar, sell other currencies

USD

684.6

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 December 31,				As of December 31,
Derivative Instruments	Consolidated Balance Sheets location	2025		2024		2025		2024
Derivatives designated as hedging instruments
Commodity contracts	Short-term derivative assets, net	$	—	$	4.0	$	—	$	3.5
	Other non-current assets	0.2		—		—		—
	Short-term derivative liabilities, net	18.6		13.9		14.1		18.9


Interest rate contract	Short-term derivative assets, net	—		2.9		—		—



Total derivatives designated as hedging instruments		18.9		20.8		14.2		22.4

Derivatives not designated as hedging instruments
Commodity contracts	Short-term derivative assets, net	120.6		230.8		15.6		65.7
	Other non-current assets	58.0		69.4		30.8		20.5
	Short-term derivative liabilities, net	74.5		86.7		133.1		174.4
	Other long-term liabilities	11.6		62.8		24.9		95.6

Foreign currency contracts	Short-term derivative assets, net	2.6		23.3		1.5		15.1
	Other non-current assets	—		0.7		—		0.3
	Short-term derivative liabilities, net	4.9		5.1		8.1		6.9
	Other long-term liabilities	—		0.1		0.1		0.6
Total derivatives not designated as hedging instruments		272.4		478.9		214.3		379.2
Total derivatives		$	291.3	$	499.6	$	228.4	$	401.6

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

The following amounts were recorded within our 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 December 31,				As of December 31,
	2025		2024		2025		2024
Inventory	$	73.3	$	95.2	$	(1.0)	$	3.8

Location and Amount of Gains (Losses) on Fair Value and Cash Flow Hedges Recognized in Income

The following table presents, on a pre-tax basis, the location and amount of gains (losses) on fair value and cash flow hedges recognized in income in our Consolidated Statements of Income and Comprehensive Income (in millions):


	For the Year Ended December 31,
	2025						2024						2023
	Revenue		Cost of revenue		Interest expense and other financing costs, net		Revenue		Cost of revenue		Interest expense and other financing costs, net		Revenue		Cost of revenue		Interest expense and other financing costs, net
Total amounts of income and expense line items in which the effects of fair value or cash flow hedged are recorded	$	36,916.6	$	35,968.8	$	100.6	$	42,168.0	$	41,141.6	$	102.2	$	47,710.6	$	46,652.4	$	127.7
Gains (losses) on fair value hedge relationships:
Commodity contracts:
Hedged item	—		(5.4)		—		—		5.4		—		—		0.8		—
Derivatives designated as hedging instruments	—		5.1		—		—		(4.1)		—		—		3.4		—
Gains (losses) on cash flow hedge relationships:
Commodity contracts:
Amount of gains (losses) reclassified from Accumulated other comprehensive income (loss) into Net income (loss)	(12.4)		(4.1)		—		(3.4)		6.1		—		0.2		—		—
Interest rate contract:
Amount of gains (losses) reclassified from Accumulated other comprehensive income (loss) into Net income (loss)	—		—		2.9		—		—		14.5		—		—		14.0

Total amount of income and expense line items excluding the impact of hedges	$	36,929.0	$	35,964.4	$	103.6	$	42,171.4	$	41,148.9	$	116.7	$	47,710.4	$	46,656.7	$	141.7

The following table presents, on a pre-tax basis, the amounts not recorded in Accumulated other comprehensive income (loss) due to intra-period settlement but recognized in Revenue and Cost of revenue in our Consolidated Statements of Income and Comprehensive Income (in millions):


Gain (Loss) Not Recorded in Accumulated other comprehensive income (loss) Due to Intra-Period Settlement		Year Ended December 31,
	Location	2025		2024		2023
Commodity contracts	Revenue	$	11.1	$	5.6	$	(1.5)
Commodity contracts	Cost of revenue	$	5.6	$	(15.4)	$	(0.3)

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

The following tables present the effect and financial statement location of our derivative instruments in cash flow hedging relationships on Accumulated other comprehensive income (loss) and in our Consolidated Statements of Income and Comprehensive Income (in millions):


Amount of Gain (Loss) Recognized in Accumulated other comprehensive income (loss), Net of Income Tax (Expense) Benefit	Year Ended December 31,
	2025		2024		2023
Commodity contracts (Revenue)	$	(7.2)	$	(4.3)	$	—
Commodity contracts (Cost of revenue)	(3.6)		5.6		(0.7)
Interest rate contracts (Interest expense and other financing costs, net)	—		1.9		3.0
Total gain (loss)	$	(10.8)	$	3.1	$	2.4


Amount of Gain (Loss) Reclassified from Accumulated other comprehensive income (loss) into Net income (loss), Net of Income Tax (Expense) Benefit		Year Ended December 31,
	Location	2025		2024		2023
Commodity contracts	Revenue	$	(9.1)	$	(2.5)	$	0.2
Commodity contracts	Cost of revenue	(3.0)		4.4		—
Interest rate contracts	Interest expense and other financing costs, net	2.1		10.7		10.3
Total gain (loss)		$	(9.9)	$	12.6	$	10.5

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

The following table presents the amount and financial statement location in our Consolidated Statements of Income and Comprehensive Income of realized and unrealized gains (losses) recognized on derivative instruments not designated as hedging instruments (in millions):


Derivative Instruments - Non-designated	Location	Year Ended December 31,
		2025		2024		2023
Commodity contracts	Revenue	$	(14.5)	$	(126.2)	$	(190.5)
	Cost of revenue	(9.5)		21.4		(41.4)
		(24.0)		(104.8)		(231.9)
Foreign currency contracts	Revenue	(1.2)		(0.5)		(8.0)
	Other income (expense), net	(14.1)		(2.4)		2.3
		(15.3)		(2.9)		(5.6)
Total gains (losses)		$	(39.3)	$	(107.7)	$	(237.5)

Schedule of potential collateral requirements derivatives credit-risk contingency features

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


	As of December 31,
	2025		2024
Net derivative liability positions with credit contingent features	$	20.2	$	40.9
Collateral posted and held by our counterparties	(3.7)		—
Maximum additional potential collateral requirements	$	16.5	$	40.9

Restructuring and Exit Activities - Summary of Restructuring and Exit Activities Activities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Restructuring and Exit Activities Reserve [Roll Forward]
Beginning Balance	$ 2.0	$ 5.7
Restructuring and exit activity charges	103.1	7.1	$ 7.2
Paid during the period	(23.7)	(7.5)
Ending Balance	46.6	2.0	5.7
Operating Segments
Restructuring and Exit Activities Reserve [Roll Forward]
Restructuring and exit activity charges	74.5	6.6	5.5
Operating Segments \| Aviation
Restructuring and Exit Activities Reserve [Roll Forward]
Beginning Balance	0.0	1.2
Restructuring and exit activity charges	6.9	0.1	1.5
Paid during the period	(3.7)	(1.3)
Ending Balance	3.3	0.0	1.2
Operating Segments \| Land
Restructuring and Exit Activities Reserve [Roll Forward]
Beginning Balance	1.7	3.7
Restructuring and exit activity charges	65.8	3.2	4.0
Paid during the period	(8.1)	(5.1)
Ending Balance	31.6	1.7	3.7
Operating Segments \| Marine
Restructuring and Exit Activities Reserve [Roll Forward]
Beginning Balance	0.0	0.0
Restructuring and exit activity charges	1.8	3.3	0.0
Paid during the period	(0.6)	0.0
Ending Balance	1.2	0.0	0.0
Corporate
Restructuring and Exit Activities Reserve [Roll Forward]
Beginning Balance	0.3	0.9
Paid during the period	(11.3)	(1.1)
Ending Balance	$ 10.5	$ 0.3	$ 0.9

- Definition

Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation.

+ References + Details

Revenue from Contract with Customer (Tables)

12 Months Ended

Dec. 31, 2025

Revenue from Contract with Customer [Abstract]

Revenue disaggregated by major geographic areas

The following table presents our revenues from contracts with customers disaggregated by major geographic areas, based on the country of incorporation of the relevant subsidiary (in millions):


	For the Year Ended December 31,
	2025		2024		2023
Aviation	$	1,021.7	$	1,106.8	$	1,151.9
Land	68.4		113.5		153.9
Marine	3,512.0		4,181.0		4,235.6
Asia Pacific	4,602.0		5,401.3		5,541.5

Aviation	4,375.1		4,641.7		4,320.6
Land	1,560.2		2,798.2		3,224.8
Marine	1,973.5		2,213.6		2,475.9
EMEA	7,908.7		9,653.5		10,021.2

Aviation	3,720.1		3,785.7		4,167.4
Land	0.1		918.1		1,010.4
Marine	700.6		771.7		806.0
LATAM	4,420.8		5,475.5		5,983.8

Aviation	9,846.7		10,913.1		13,625.0
Land	8,625.0		9,108.6		10,993.5
Marine	1,493.9		1,720.9		1,728.7
North America	19,965.7		21,742.5		26,347.3

Other revenues (excluded from ASC 606) (1)	19.4		(104.7)		(183.2)

Total revenue	$	36,916.6	$	42,168.0	$	47,710.6

(1)Includes revenue from derivatives, leases, and other transactions that we account for under separate guidance.

Consideration Paid to Customers or Received from Vendors

The following table presents these balances and their locations on the Consolidated Balance Sheets (in millions):


		As of December 31,
Balance	Consolidated Balance Sheets location	2025		2024
Consideration paid to customers - current	Other current assets	$	61.0	$	55.1
Consideration paid to customers - noncurrent	Other non-current assets	407.9		371.4
Consideration received from vendors - current	Accrued expenses and other current liabilities	27.3		25.8
Consideration received from vendors - noncurrent	Other long-term liabilities	239.5		207.6

Income Taxes - Reconciliation of Unrecognized Tax Liabilities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Reconciliation of total amounts of unrecognized income tax benefits
Gross Unrecognized Tax Liabilities – opening balance	$ 61.8	$ 73.1	$ 68.1
Gross increases – tax positions in prior period	8.9	1.5	7.7
Gross decreases – tax positions in prior period	(1.1)	(8.8)	(0.4)
Gross increases – tax positions in current period	2.4	2.2	1.4
Gross decreases – tax positions in current period	0.3	0.0	0.0
Settlements	(2.0)	(3.0)	(0.5)
Lapse of statute of limitations	(4.4)	(3.1)	(3.2)
Gross Unrecognized Tax Liabilities – ending balance	$ 65.4	$ 61.8	$ 73.1

Leases - Lease Cost (Details) - USD ($) $ in Millions	12 Months Ended
Leases - Lease Cost (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Finance lease cost:
Amortization of right-of-use assets	$ 5.9	$ 10.4	$ 4.0
Interest on lease liabilities	1.2	2.3	0.7
Operating lease cost	48.0	46.3	44.8
Short-term lease cost	26.4	27.9	27.1
Variable lease cost	8.9	8.3	8.6
Sublease income	(14.4)	(14.9)	(14.5)
Total lease cost	$ 76.1	$ 80.4	$ 70.6

Acquisitions and Divestitures - Unaudited Pro Forma Results (Details) - Trip Support Services - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Business Combination [Line Items]
Business Combination, Pro Forma Information, Pro Forma Revenue	$ 37,118.9	$ 42,416.0
Business Combination, Pro Forma Information, Pro Forma Income (Loss), after Tax	$ (605.7)	$ 78.9

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
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+ Details

Shareholders' Equity - Plan Summary and Description (Details) shares in Thousands	12 Months Ended
	Dec. 31, 2025 shares
Information pertaining to stock based awards
Common stock subject to outstanding awards (in shares)	1,900
2025 Omnibus Plan
Information pertaining to stock based awards
Exercisable period	7 years
Common stock authorized for issuance (in shares)	1,850
Remaining Shares of Common Stock Available for Future Issuance (in shares)	3,300
2025 Omnibus Plan \| RSUs
Information pertaining to stock based awards
Outstanding awards issued (in shares)	200
2021 Plan
Information pertaining to stock based awards
Remaining Shares of Common Stock Available for Future Issuance (in shares)	0
2021 Plan \| RSUs
Information pertaining to stock based awards
Outstanding awards issued (in shares)	1,700
2006 Plan
Information pertaining to stock based awards
Remaining Shares of Common Stock Available for Future Issuance (in shares)	0
2006 Plan \| RSUs
Information pertaining to stock based awards
Outstanding awards issued (in shares)	100

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities:
Net income (loss) including noncontrolling interest	$ (611.7)	$ 67.9	$ 53.7
Adjustments to reconcile net income including noncontrolling interest to net cash provided by operating activities:
Unrealized (gain) loss on derivatives	28.3	24.9	(267.5)
(Gain) loss on sale of business	81.9	15.2	(2.2)
Depreciation and amortization	98.2	106.4	104.5
Noncash operating lease expense	37.1	36.0	34.7
Provision for credit losses	3.9	12.0	4.7
Share-based payment award compensation costs	25.5	28.1	24.2
Deferred income tax expense (benefit)	(176.4)	(15.3)	(30.7)
Unrealized foreign currency (gains) losses, net	14.4	30.6	(16.5)
Goodwill and other asset impairments	689.6	29.0	32.8
Other	44.8	16.6	25.2
Changes in assets and liabilities, net of acquisitions and divestitures:
Accounts receivable, net	106.4	259.1	569.2
Inventories	1.0	133.0	186.8
Prepaid expenses	(18.7)	(2.3)	6.7
Other current assets	(26.9)	20.7	(30.5)
Cash collateral with counterparties	44.8	105.4	168.9
Other non-current assets	(92.0)	(117.7)	(88.0)
Change in derivative assets and liabilities, net	7.8	(3.4)	(4.7)
Accounts payable	(32.6)	(355.9)	(441.9)
Accrued expenses and other current liabilities	45.0	(164.1)	(48.0)
Other long-term liabilities	22.4	33.7	(10.1)
Net cash provided by (used in) operating activities	292.9	259.9	271.3
Cash flows from investing activities:
Acquisition of business, net of cash acquired	(153.6)	(40.0)	(13.7)
Proceeds from sale of business, net of divested cash	23.4	209.0	9.3
Capital expenditures	(65.6)	(68.2)	(87.6)
Other investing activities, net	25.9	(36.3)	(9.1)
Net cash provided by (used in) investing activities	(170.0)	64.5	(101.1)
Cash flows from financing activities:
Borrowings of debt	3,602.0	3,844.0	5,921.8
Repayments of debt	(3,773.7)	(3,876.2)	(6,224.4)
Issuance of Convertible Notes	0.0	0.0	350.0
Dividends paid on common stock	(41.3)	(38.5)	(34.0)
Repurchases of common stock	(85.0)	(100.0)	(60.1)
Purchase of convertible note hedges	0.0	0.0	(70.5)
Sale of warrants	0.0	0.0	40.0
Payments of deferred consideration for acquisitions	(7.2)	(51.8)	(62.9)
Other financing activities, net	(9.9)	(8.0)	(12.2)
Net cash provided by (used in) financing activities	(315.1)	(230.6)	(152.4)
Cash and cash equivalents	(0.6)	0.0	0.0
Effect of exchange rate changes on cash and cash equivalents	3.4	(15.2)	(12.0)
Net increase (decrease) in cash and cash equivalents	(189.4)	78.7	5.9
Cash and cash equivalents, as of the beginning of the period	382.9	304.3	298.4
Cash and cash equivalents, as of the end of the period	$ 193.5	$ 382.9	$ 304.3

Derivative Instruments - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Derivative [Line Items]
Gain (loss) recognized in earnings related to fair value or cash flow hedges excluded from assessment of hedge effectiveness	$ 0.0	$ 0.0	$ 0.0
Cost of revenue
Derivative [Line Items]
Amount scheduled to be reclassified over the next twelve months	$ (0.1)

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	10. Commitments and Contingencies Surety Bonds In the normal course of business, we are required to post bid, performance, and other surety-related bonds. The majority of the surety bonds posted relate to our aviation and land segments. We had outstanding bonds that were executed in order to satisfy various security requirements of $65.5 million and $65.8 million as of December 31, 2025 and 2024, respectively. Sales and Purchase Commitments As of December 31, 2025, the notional value associated with fixed sales and purchase commitments under our derivative programs amounted to $761.6 million and $246.4 million, respectively, with delivery dates from 2026 through 2033. Additionally, we have a fixed purchase contract that extends through 2026, under which we have agreed to purchase annually approximately 2.0 million barrels of aviation fuel at future market prices. Deferred Compensation Plans We maintain a 401(k) defined contribution plan which covers all U.S. employees who meet minimum requirements and elect to participate. We make a matching contribution of 50% for each 1% of the participants' contributions up to a maximum of 6% of the participants' contributions, subject to applicable IRS limits. Annual Company contributions are made at our sole discretion, as approved by the Compensation Committee of the Board of Directors (the "Compensation Committee"). Additionally, certain of our foreign subsidiaries have defined contribution plans, which allow for voluntary contributions by the employees. In some cases, we make employer contributions on behalf of the employees. The expenses for our contributions under these plans were not material during each of the years presented on the Consolidated Statements of Income and Comprehensive Income. We offer a non-qualified deferred compensation ("NQDC") plan to certain eligible employees, whereby the participants may defer a portion of their compensation. We do not match any participant deferrals under the NQDC plan. Participants can elect from a variety of investment choices for their deferred compensation and gains and losses on these investments are credited to their respective accounts. The deferred compensation payable amount under this NQDC plan is subject to the claims of our general creditors and was $18.5 million and $17.9 million as of December 31, 2025 and 2024, respectively, which was principally included in Other long-term liabilities within our Consolidated Balance Sheets. Environmental and Other Liabilities; Uninsured Risks Our business is subject to numerous federal, state, local and foreign environmental laws and regulations, including those relating to fuel storage and distribution, terminals, underground storage tanks, the release or discharge of regulated materials into the air, water and soil, the generation, storage, handling, use, transportation and disposal of hazardous materials, and the exposure of persons to regulated materials. A violation of, liability under, or noncompliance with these laws and regulations, or any future environmental law or regulation, could result in material liabilities, including administrative, civil or criminal penalties, remediation costs as well as third-party damages. From time to time, we may be responsible for remediating contamination at properties we own or lease and can be entitled to reimbursement for certain of these costs from state trust funds, as well as various third-party contractual indemnities and insurance policies, subject to eligibility requirements, deductibles, and aggregate caps. Although we continuously review the adequacy of our insurance coverage, we may lack adequate coverage for various risks, including environmental claims. If we are uninsured or under‑insured for a claim or claims of sufficient magnitude arising out of our activities, it will have a material adverse effect on our financial position, results of operations and cash flows. We accrue for environmental assessment and remediation expenses when the future costs are probable and reasonably estimable. As of December 31, 2025 and 2024, accrued liabilities for remediation reserves were not material. It is not presently possible to estimate the ultimate amount of all remediation costs that might be incurred or the penalties that may be imposed. Tax Matters From time to time, we are also under review by various domestic and foreign tax authorities regarding indirect tax matters and are involved in various challenges and litigation in a number of countries, including, in particular, South Korea, where the amounts in controversy may be material. During 2016 and 2017, the South Korean branch of one of our subsidiaries received assessments totaling approximately $23.8 million (KRW 34.3 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 we have substantial defenses to these assessments and expect to continue to pursue available administrative and judicial remedies to resolve this matter. 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 will 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 tax matters described in the preceding paragraph, we believe that the final outcome of any pending examinations, agreements, administrative or judicial proceedings relating to tax matters will not have a material effect on our results of operations or cash flows. Other Matters On November 23, 2023, one of our subsidiaries submitted an erroneous bid in the Finnish power market. During the fourth quarter of 2023, the Company recognized related extraordinary losses totaling $48.8 million, which were primarily included in Cost of revenue in the accompanying Consolidated Statements of Income and Comprehensive Income. In December 2023, the subsidiary received a request for information from Energiavirasto, the Finnish energy regulatory authority ("EA") indicating that EA had initiated an investigation in relation to the events surrounding the erroneous bid submission. On December 11, 2025, EA issued its decision in which it found the subsidiary had breached the prohibition on market manipulation in wholesale energy markets under E.U. law. In its decision, EA stated it will recommend that the Finnish Market Court impose a penalty fee in separate proceedings. Those proceedings have not yet commenced, and the Finnish Market Court will ultimately determine whether any penalty should be assessed and, if so, the amount. We intend to vigorously defend ourselves in any proceeding before the Finnish Market Court. 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 matters in which losses are probable and can be reasonably estimated. As of December 31, 2025, our reserves for such claims were not material. For those matters where a reserve has not been established and for which we believe a loss 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.

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) shares in Millions, $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Statement of Financial Position [Abstract]
Allowance for credit losses	$ 15.6	$ 22.5
Preferred stock, par value (in dollars per share)	$ 1.00	$ 1.00
Preferred stock, shares authorized (in shares)	0.1	0.1
Preferred stock, shares issued (in shares)	0.0	0.0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	100.0	100.0
Common stock, shares issued (in shares)	54.1	56.7
Common stock, shares outstanding (in shares)	54.1	56.7

Goodwill and Identifiable Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of changes in goodwill

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


	Aviation Segment		Land Segment		Total
As of December 31, 2023	$	398.3	$	839.7	$	1,238.0
2024 acquisitions (1)	17.5		—		17.5
Adjustment for sale of business (2)	(59.5)		(8.7)		(68.2)
Foreign currency translation of non-USD functional currency subsidiary goodwill	(1.9)		(3.8)		(5.6)
As of December 31, 2024	354.4		827.3		1,181.7
2025 acquisitions (2)	81.3		—		81.3
Goodwill impairment	—		(528.3)		(528.3)
Adjustment for sale of business (2)	—		(18.2)		(18.2)

Other	—		15.0		15.0
Foreign currency translation of non-USD functional currency subsidiary goodwill	0.1		5.9		6.0
As of December 31, 2025	$	435.8	$	301.7	$	737.5

(1)During the year ended December 31, 2024 we completed an acquisition that did not have a material impact on our Consolidated Financial Statements.

(2)See Note 2. Acquisitions and Divestitures for additional information.

Schedule of intangible assets subject to amortization

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


	As of December 31, 2025						As of December 31, 2024
	Gross Carrying Amount		Accumulated Amortization (1)		Net		Gross Carrying Amount		Accumulated Amortization (1)		Net
Intangible assets subject to amortization:
Customer relationships	$	555.1	$	344.9	$	210.2	$	504.1	$	339.8	$	164.3
Supplier agreements	69.0		39.8		29.2		69.0		35.4		33.6
Others	54.0		25.9		28.1		43.5		25.1		18.4
Total intangible assets subject to amortization	678.0		410.6		267.4		616.6		400.3		216.3
Intangible assets not subject to amortization:
Trademark / trade name rights	44.2		—		44.2		44.9		—		44.9
Total intangible assets	$	722.3	$	410.6	$	311.7	$	661.5	$	400.3	$	261.2

(1)Includes the impact of foreign exchange.

Schedule of intangible assets not subject to amortization

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


	As of December 31, 2025						As of December 31, 2024
	Gross Carrying Amount		Accumulated Amortization (1)		Net		Gross Carrying Amount		Accumulated Amortization (1)		Net
Intangible assets subject to amortization:
Customer relationships	$	555.1	$	344.9	$	210.2	$	504.1	$	339.8	$	164.3
Supplier agreements	69.0		39.8		29.2		69.0		35.4		33.6
Others	54.0		25.9		28.1		43.5		25.1		18.4
Total intangible assets subject to amortization	678.0		410.6		267.4		616.6		400.3		216.3
Intangible assets not subject to amortization:
Trademark / trade name rights	44.2		—		44.2		44.9		—		44.9
Total intangible assets	$	722.3	$	410.6	$	311.7	$	661.5	$	400.3	$	261.2

(1)Includes the impact of foreign exchange.

Schedule of future estimated amortization of identifiable intangible assets

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


Year Ended December 31,
2026	$	32.7
2027	29.6
2028	27.6
2029	27.3
2030	27.1
Thereafter	123.1
Total	$	267.4

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

+ Details

Property and Equipment

12 Months Ended

Dec. 31, 2025

Property, Plant and Equipment [Abstract]

Property and Equipment

6. Property and Equipment

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


	As of December 31,				Estimated
	2025		2024		Useful Lives
Land	$	53.1	$	81.4	Indefinite
Buildings and leasehold improvements	90.7		110.2		1 - 40 years
Office equipment, furniture and fixtures	19.6		20.9		3 - 9 years
Computer equipment and software costs	293.9		301.4		3 - 9 years
Machinery, equipment and vehicles (1)	279.8		475.1		3 - 40 years
Total property and equipment	737.1		989.1
Less: Accumulated depreciation and amortization (1)	388.7		475.8
Total property and equipment, net	$	348.4	$	513.3

(1)Includes right of use assets associated with finance leases. See Note 12. Leases for additional information.

For 2025, 2024 and 2023, we recorded depreciation and amortization expense of $63.6 million, $72.3 million and $68.3 million, respectively. See Note 2. Acquisitions and Divestitures and Note 5. Fair Value Measurements for additional information about asset impairment charges.

The amount of computer software costs, including capitalized internally developed software costs and certain hosting arrangement costs, included in property and equipment are as follows (in millions):


	As of December 31,
	2025		2024
Computer software costs	$	254.7	$	260.8
Less: Accumulated amortization	175.7		171.7
Computer software costs, net	$	79.0	$	89.1

For 2025, 2024 and 2023, we recorded amortization expense related to computer software costs of $20.6 million, $23.2 million and $25.4 million, respectively.

Debt, Interest Income, Expense, and Other Finance Costs

12 Months Ended

Dec. 31, 2025

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

Debt, Interest Income, Expense, and Other Finance Costs

9. Debt, Interest Income, Expense, and Other Finance Costs

Long-Term Debt

Our outstanding debt consists of the following (in millions):


	As of December 31,
	2025		2024
Credit Facility	$	—	$	—
Term Loan	346.5		455.3
Convertible Notes (1)	343.4		340.9
Finance leases (2)	4.4		29.9
Other (3)	2.8		54.7
Total debt	697.1		880.8
Less: Current maturities of long-term debt and finance leases	11.9		84.0
Long-term debt	$	685.2	$	796.8

(1)As of December 31, 2025 and 2024 the net carrying amount of the Convertible Notes includes the aggregate principal amount of $350.0 million, net of unamortized debt issuance costs of $6.6 million and $9.1 million, respectively. The fair value of the Convertible Notes was estimated to be approximately $378.3 million and $395.7 million as of December 31, 2025 and 2024, respectively, using the Level 2 observable input of quoted market prices in an inactive market.

(2)See Note 12. Leases for additional information.

(3)Includes secured borrowings for the transfer of tax receivables of $50.3 million (EUR 48.5 million) as of December 31, 2024, which were repaid during the year ended December 31, 2025.

Annual Maturities

As of December 31, 2025, the aggregate annual maturities of debt are as follows (in millions):


Year Ended December 31,
2026	$	9.3
2027	11.7
2028	365.9
2029	17.2
2030	292.9
Thereafter	—
Total	$	697.1

Issuance of Convertible Debt

On June 26, 2023, we issued $350.0 million aggregate principal amount of 3.250% Convertible Senior Notes due 2028 (the "Convertible Notes"). The Convertible Notes mature on July 1, 2028, unless earlier converted, redeemed or repurchased. We may not redeem the Convertible Notes prior to July 6, 2026. Thereafter and until the 61st scheduled trading day immediately preceding the maturity date, we may redeem for cash, if the last reported sale price of our common stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which we provide the related Notice of Redemption. Prior to March 1, 2028, the Convertible Notes will be convertible at the option of the holders only under the following circumstances: (1) during any calendar quarter commencing after the calendar quarter ending on September 30, 2023 (and only during such calendar quarter), if the last reported sale price of our common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day; (2) during the five business day period after any ten consecutive trading day period in which, for each trading day of that period, the Trading Price (as defined in the Indenture), as determined following a request by a holder of Convertible Notes in accordance with the procedures described in the Indenture, per $1,000 principal amount of Convertible Notes for such trading day was

less than 98% of the product of the last reported sale price of our common stock and the conversion rate on each such trading day; (3) if we call such Convertible Notes for redemption, at any time prior to the close of business on the scheduled trading day immediately preceding the redemption date, but only with respect to the Convertible Notes called (or deemed called) for redemption; or (4) upon the occurrence of specified corporate events described in the Indenture. Thereafter and until the second scheduled trading day immediately preceding the maturity date of the Convertible Notes, holders may convert regardless of the foregoing conditions.

The Convertible Notes are senior, unsecured obligations that bear interest at a rate of 3.250% per year, payable semiannually in arrears on January 1 and July 1 of each year, beginning on January 1, 2024. The initial conversion rate was 35.1710 shares of common stock per $1,000 principal amount of Convertible Notes, which is equivalent to an initial conversion price of approximately $28.43 per share. The conversion rate is subject to adjustment upon the occurrence of certain events, including quarterly cash dividends in excess of $0.14 per share, subject to an elective deferral provision that generally permits us to defer adjustments until they cumulatively result in an aggregate change of at least 1% to the conversion rate. Our Board of Directors has declared quarterly dividends in excess of $0.14 per share since the first quarter of 2024, and we had previously elected to defer the adjustments otherwise required by the payment of these dividends. Effective December 15, 2025, our conversion rate was adjusted to 35.6103 shares of common stock per $1,000 principal amount of Convertible Notes, which is equivalent to a conversion price of approximately $28.08 per share. We expect to continue to defer future conversion rate adjustments to the extent permitted by the terms governing the Convertible Notes. The conversion rate will not be adjusted for accrued and unpaid interest. Upon conversion, the Convertible Notes will be settled in cash up to the aggregate principal amount of the Convertible Notes to be converted, and in cash, shares of common stock or any combination thereof, at our option, in respect of the remainder, if any, of our conversion obligation in excess of the aggregate principal amount.

In connection with the pricing of the Convertible Notes during the year ended December 31, 2023, we entered into convertible note hedge transactions and warrant transactions. The cost of the convertible note hedge transactions was approximately $70.5 million. The convertible note hedge transactions cover, subject to customary anti-dilution adjustments, the number of shares of common stock that initially underlie the Convertible Notes, and have an initial strike price equal to the initial conversion price of the Convertible Notes. As a result of the payment of dividends on our common stock in excess of $0.14 per share, the strike price of the convertible note hedges was adjusted to approximately $28.08 per share as of December 31, 2025. Separately, during the year ended December 31, 2023, we received $40.0 million of proceeds from the sale of warrants to acquire, subject to anti-dilution adjustments, the same amount of shares at an initial strike price of $40.14 per share. As a result of the payment of dividends on our common stock in excess of $0.14 per share, the strike price of the warrants was adjusted to approximately $39.64 per share as of December 31, 2025. The net cost of $30.5 million was recorded as a reduction to additional paid-in capital in the Consolidated Statements of Shareholders’ Equity during the year ended December 31, 2023.

Credit Agreement

Our Credit Agreement matures in November 2030 and provides for a revolving credit facility and term loan borrowings. On November 10, 2025, we entered into Amendment No. 11 to the Fourth Amended and Restated Credit Agreement (as amended, the "Credit Agreement"), to amend certain terms and conditions of our credit facility, including to: (i) extend the maturity from April 1, 2027 to November 10, 2030 and provide the Company with a one-time, one-year maturity date extension option, subject to certain conditions; (ii) increase the revolving credit facility provided under the Credit Agreement from $1.50 billion to $1.65 billion (the "Credit Facility"); (iii) replace the existing term loan with a new term loan in the original principal amount of $350.0 million (the "Term Loan"), thereby maintaining the total borrowing capacity under the credit facility at $2.0 billion; (iv) modify the pricing of the loans and related fees, including reducing the number of applicable pricing levels, such that: (a) amounts outstanding bear interest at varying rates, plus a margin ranging from 1.500% - 2.125% for Term SOFR loans and alternative currency loans, and between 0.500% and 1.125% for base rate loans; and (b) lowering the pricing on commitment fees to a range of 0.225% - 0.300%, in each case depending on a defined consolidated total leverage ratio; and (v) modify certain financial and other covenants to provide greater operating flexibility.

Under the Credit Facility, up to $1.65 billion aggregate principal amount may be borrowed, repaid and redrawn, based upon specific financial ratios and subject to the satisfaction of other customary conditions to borrowing. Our Credit Facility includes a sublimit of $400.0 million for the issuance of letters of credit and bankers' acceptances, and we have the right to request increases in available borrowings up to an additional $350.0 million, or more under certain conditions.

As of December 31, 2025 and 2024, we had issued letters of credit under the Credit Facility totaling $93.8 million and $17.9 million, respectively. As of December 31, 2025 and 2024, the unused portion of our Credit Facility was $1.6 billion and $1.5 billion, respectively. The unused portion of our Credit Facility is limited by, among other things,

our consolidated total leverage ratio, which limits the total amount of indebtedness we may incur, and may, therefore, fluctuate from period to period.

Borrowings under our Credit Facility and Term Loan related to base rate loans or Term SOFR loans and alternative currency loans bear floating interest rates plus applicable margins. As of December 31, 2025, the applicable margins for base rate loans and Term SOFR loans and alternative currency loans were 0.875% and 1.875%, respectively.

Our Credit Agreement contains certain financial and other covenants with which we are required to comply. As of December 31, 2025, we were in compliance with all financial covenants contained in our Credit Agreement.

Other Credit Lines

Outside of our Credit Facility, we have other uncommitted credit lines primarily for the issuance of letters of credit, bank guarantees and bankers’ acceptances. These credit lines are renewable on an annual basis and are subject to fees at market rates. As of December 31, 2025 and 2024, our outstanding letters of credit and bank guarantees under these credit lines totaled $396.4 million and $360.1 million, respectively.

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

Interest Income, Expense, and Other Financing Costs

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


	Year Ended December 31,
	2025		2024		2023
Interest income	$	11.4	$	13.8	$	7.8
Interest expense and other financing costs	(112.0)		(116.0)		(135.5)
Interest expense and other financing costs, net	$	(100.6)	$	(102.2)	$	(127.7)

The weighted average interest rate on our short-term debt, excluding secured borrowings, was 5.6% and 6.7% as of December 31, 2025 and 2024, respectively.

During the years ended December 31, 2025, 2024, and 2023, we recognized interest expense of $13.8 million, $13.6 million, and $7.2 million associated with our Convertible Notes, which consisted of $11.4 million, $11.2 million, and $6.0 million, respectively, related to the 3.250% coupon rate and $2.5 million, $2.4 million, and $1.2 million, respectively, from the amortization of debt issuance costs.

Cash paid for interest, net of capitalized interest, was $105.8 million, $113.6 million, and $130.4 million during the years ended December 31, 2025, 2024, and 2023, respectively

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
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+ Details

Acquisitions and Divestitures (Tables)

12 Months Ended

Dec. 31, 2025

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

Disposal Groups, Including Discontinued Operations

The following table summarizes the carrying value of the Land Fuel Transportation and Lubricants and Falmouth disposal group assets and liabilities classified as held for sale (in millions):


	December 31, 2025
Cash and cash equivalents	$	0.6
Accounts receivable, net	0.2
Inventories	35.9
Prepaid expenses and other current assets	0.3
Property and equipment, net	51.1
Intangible assets, net	8.5
Other non-current assets	11.7
Total assets held for sale	$	108.2

Accounts payable	$	0.3
Accrued expenses and other liabilities	4.8
Long-term portion of finance lease obligations	5.2
Other long-term liabilities	18.1
Total liabilities held for sale	$	28.3

Schedule of estimated purchase price allocation for the acquisition

The following table summarizes the estimated fair value of the aggregate consideration, and the preliminary allocation of the purchase price to the fair value of the assets acquired and liabilities assumed (in millions):


	Total
Consideration:
Cash paid at closing	$	154.4

Amount due to sellers (1)	52.6
Total fair value of consideration	$	207.0

Assets acquired and liabilities assumed:
Cash	$	0.8
Accounts receivable	19.6
Prepaid expenses and other current assets	0.5
Property, plant and equipment	0.3
Identifiable intangible assets subject to amortization (2)	87.5
Identifiable intangible assets not subject to amortization (3)	23.1
Accounts payable	(1.6)
Other assets and liabilities, net (4)	(4.4)
Net identifiable assets acquired	125.8
Goodwill	81.3
Net assets acquired	$	207.0

(1)Represents expected payments of $15.0 million per year over each of the next four years, discounted to present value at the date of acquisition.

(2)Identifiable intangible assets subject to amortization primarily consist of customer relationships and other identifiable assets which will be amortized over a weighted average life of 18.4 years.

(3)Identifiable intangible assets not subject to amortization include trademarks and trade names acquired.

(4)Includes the recognition of right of use assets of $1.3 million and lease liabilities of $1.3 million.

Business Combination, Pro Forma Information


	For the Year Ended December 31,
(unaudited)	2025		2024
Revenue	$	37,118.9	$	42,416.0
Net income (loss) attributable to World Kinect	$	(605.7)	$	78.9

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

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+ Details

Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Assets:
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other non-current assets	Other non-current assets
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Property and equipment, net	Property and equipment, net
Operating lease assets	$ 156.2	$ 172.5
Finance lease assets	$ 1.6	$ 29.4
Liabilities:
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued expenses and other current liabilities	Accrued expenses and other current liabilities
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other long-term liabilities	Other long-term liabilities
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Current maturities of long-term debt	Current maturities of long-term debt
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Long-term debt	Long-term debt
Operating lease liability - current	$ 28.2	$ 32.1
Operating lease liability - long-term	132.7	144.1
Finance lease liability - current	3.4	7.6
Finance lease liability - long-term	$ 1.0	$ 22.4

Earnings per Common Share

12 Months Ended

Dec. 31, 2025

Earnings Per Share [Abstract]

Earnings per Common Share

17. Earnings per Common Share

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


	For the Year Ended December 31,
	2025		2024		2023
Numerator:
Net income (loss) attributable to World Kinect	$	(614.4)	$	67.4	$	52.9
Denominator:
Weighted average common shares for basic earnings per common share (1)	55.9		59.0		61.4
Effect of dilutive securities	—		0.5		0.3
Weighted average common shares for diluted earnings per common share	55.9		59.5		61.7
Basic earnings (loss) per common share	$	(10.99)	$	1.14	$	0.86
Diluted earnings (loss) per common share	$	(10.99)	$	1.13	$	0.86
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	1.1		1.1		1.3

(1)In January 2026, we repurchased 2.8 million shares of common stock under our stock repurchase program for an aggregate value of $75.0 million. See Note 11. Shareholders' Equity for additional information.

Income Taxes - Narrative (Details) kr in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2025 USD ($)	Dec. 31, 2025 DKK (kr)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Income Tax Contingency [Line Items]
Effective income tax rate	17.30%	17.30%	28.90%
Income tax expense (benefit)	$ (127.9)		$ 27.6	$ 13.0
Accumulated foreign earnings deemed repatriated	1,700.0
Tax Cuts and Jobs Act, Transition Tax for Accumulated Foreign Earnings, Liability	15.9
Net operating losses	500.2		417.6
Deferred tax asset	79.9		62.5
Valuation allowance	46.2		16.8
Valuation allowance, deferred tax asset for NOLs	37.5
Unrecognized tax liabilities	95.9		90.8
Unrecognized tax assets	16.6		17.2
Expected reduction in income tax expense if uncertain tax positions are settled by the taxing authorities in the entity's favor	$ 48.9
Expected reduction in effective income tax rate if uncertain tax positions are settled by the taxing authorities in the entity's favor (as a percent)	(6.70%)	(6.70%)
Interest related to unrecognized tax benefits, recorded as expense	$ 2.1		(1.3)	5.1
Penalties related to unrecognized tax benefits, recorded as income tax expense (income)	(0.5)		(3.1)	2.8
Accrued interest related to unrecognized tax benefits	26.6		24.5
Accrued penalties related to unrecognized tax benefits	3.9		4.4
Discrete income tax benefit, net	18.1		3.2
Uncertain tax positions	1.0		(7.4)	$ 8.9
Undistributed Earnings of Foreign Subsidiaries	48.7
Deferred Tax Liability Not Recognized, Amount of Unrecognized Deferred Tax Liability, Undistributed Earnings of Foreign Subsidiaries	6.8
Unrecognized Tax Benefits, Period Increase (Decrease)			(3.7)
Unrecognized Income Tax Benefit - Liabilities [Member]
Income Tax Contingency [Line Items]
Unrecognized Tax Benefits, Period Increase (Decrease)	3.6		(11.2)
Unrecognized Income Tax Benefit - Assets [Member]
Income Tax Contingency [Line Items]
Unrecognized Tax Benefits, Period Increase (Decrease)	(0.7)		(3.8)
Unrecognized Income Tax Benefit - Foreign Currency Translation Effect [Member]
Income Tax Contingency [Line Items]
Unrecognized Tax Benefits, Period Increase (Decrease)	(6.5)
Income Tax Discrete Adjustments - Return-To-Provision Adjustment
Income Tax Contingency [Line Items]
Discrete income tax benefit, net			3.0
Income Tax Discrete Adjustments - Change to Uncertain Tax Positions
Income Tax Contingency [Line Items]
Discrete income tax benefit, net			(8.4)
Income Tax Discrete Adjustments - Gain on Sale of Brazil Business
Income Tax Contingency [Line Items]
Discrete income tax benefit, net			(4.4)
Income Tax Discrete Adjustments - Gain on Sale of Avinode Business
Income Tax Contingency [Line Items]
Discrete income tax benefit, net			$ 12.4
Income Tax Discrete Adjustments - Valuation Allowance Recognition
Income Tax Contingency [Line Items]
Discrete income tax benefit, net	39.6
Income Tax Discrete Adjustments - Watson Fuels
Income Tax Contingency [Line Items]
Discrete income tax benefit, net	(24.1)
Income Tax Discrete Adjustments - Other Adjustments
Income Tax Contingency [Line Items]
Discrete income tax benefit, net	$ 2.6
Inland Revenue, Singapore (IRAS)
Income Tax Contingency [Line Items]
Period applicable for additional special income tax concession	5 years	5 years
Foreign Tax Jurisdiction \| Danish Tax Authority \| Tax Years 2013 through 2019
Income Tax Contingency [Line Items]
Estimated tax	$ 123.6	kr 785.7
Foreign Tax Jurisdiction \| Danish Tax Authority \| Tax Years 2020 through 2021
Income Tax Contingency [Line Items]
Estimated tax	$ 27.0	kr 171.5

Derivative Instruments - Balance Sheet Location (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Gross Amounts Recognized	$ 291.3	$ 499.6
Gross Amounts Recognized	228.4	401.6
Commodity contracts:
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Gross Amounts Recognized	283.7	467.6
Gross Amounts Recognized	218.6	378.7
Foreign currency exchange contracts:
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Gross Amounts Recognized	7.6	29.1
Gross Amounts Recognized	9.8	22.9
Interest rate contract:
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Gross Amounts Recognized		2.9
Derivatives designated as hedging instruments
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Gross Amounts Recognized	18.9	20.8
Gross Amounts Recognized	14.2	22.4
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
Gross Amounts Recognized	0.0	4.0
Gross Amounts Recognized	0.0	3.5
Derivatives designated as hedging instruments \| Commodity contracts: \| Short-term derivative liabilities, net
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Gross Amounts Recognized	18.6	13.9
Gross Amounts Recognized	14.1	18.9
Derivatives designated as hedging instruments \| Commodity contracts: \| Other Noncurrent Assets
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Gross Amounts Recognized	0.2	0.0
Gross Amounts Recognized	0.0	0.0
Derivatives designated as hedging instruments \| Interest rate contract: \| Short-term derivative assets, net
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Gross Amounts Recognized	0.0	2.9
Gross Amounts Recognized	0.0	0.0
Derivatives not designated as hedging instruments
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Gross Amounts Recognized	272.4	478.9
Gross Amounts Recognized	214.3	379.2
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
Gross Amounts Recognized	120.6	230.8
Gross Amounts Recognized	15.6	65.7
Derivatives not designated as hedging instruments \| Commodity contracts: \| Short-term derivative liabilities, net
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Gross Amounts Recognized	74.5	86.7
Gross Amounts Recognized	133.1	174.4
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
Gross Amounts Recognized	11.6	62.8
Gross Amounts Recognized	24.9	95.6
Derivatives not designated as hedging instruments \| Commodity contracts: \| Other Noncurrent Assets
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Gross Amounts Recognized	58.0	69.4
Gross Amounts Recognized	30.8	20.5
Derivatives not designated as hedging instruments \| Foreign currency exchange contracts: \| Short-term derivative assets, net
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Gross Amounts Recognized	2.6	23.3
Gross Amounts Recognized	1.5	15.1
Derivatives not designated as hedging instruments \| Foreign currency exchange contracts: \| Short-term derivative liabilities, net
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Gross Amounts Recognized	4.9	5.1
Gross Amounts Recognized	8.1	6.9
Derivatives not designated as hedging instruments \| Foreign currency exchange contracts: \| Other long-term liabilities
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Gross Amounts Recognized	0.0	0.1
Gross Amounts Recognized	0.1	0.6
Derivatives not designated as hedging instruments \| Foreign currency exchange contracts: \| Other Noncurrent Assets
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Gross Amounts Recognized	0.0	0.7
Gross Amounts Recognized	$ 0.0	$ 0.3

Restructuring and Exit Activities (Tables)

12 Months Ended

Dec. 31, 2025

Restructuring and Related Activities [Abstract]

Summary of Restructuring and Exit Activities Included in Accrued Expenses Other Current Liabilities

The following table provides a summary of our accruals for severance and other compensation cost activities as well as other transition costs as part of current and previously completed restructuring plans and other exit activities (in millions):


	Aviation		Land		Marine		Corporate		Consolidated
Accrued charges as of December 31, 2023	$	1.2	$	3.7	$	—	$	0.9	$	5.7
Restructuring and exit activity charges	0.1		3.2		—		0.5		3.8
Paid during the period	(1.3)		(5.1)		—		(1.1)		(7.5)
Accrued charges as of December 31, 2024	$	—	$	1.7	$	—	$	0.3	$	2.0
Restructuring and exit activity charges	6.9		38.0		1.8		21.5		68.3
Paid during the period	(3.7)		(8.1)		(0.6)		(11.3)		(23.7)
Accrued charges as of December 31, 2025	$	3.3	$	31.6	$	1.2	$	10.5	$	46.6

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

12 Months Ended

Dec. 31, 2025

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

Schedule of debt

Our outstanding debt consists of the following (in millions):


	As of December 31,
	2025		2024
Credit Facility	$	—	$	—
Term Loan	346.5		455.3
Convertible Notes (1)	343.4		340.9
Finance leases (2)	4.4		29.9
Other (3)	2.8		54.7
Total debt	697.1		880.8
Less: Current maturities of long-term debt and finance leases	11.9		84.0
Long-term debt	$	685.2	$	796.8

(2)See Note 12. Leases for additional information.

(3)Includes secured borrowings for the transfer of tax receivables of $50.3 million (EUR 48.5 million) as of December 31, 2024, which were repaid during the year ended December 31, 2025.

Schedule of aggregate annual maturities of debt

As of December 31, 2025, the aggregate annual maturities of debt are as follows (in millions):


Year Ended December 31,
2026	$	9.3
2027	11.7
2028	365.9
2029	17.2
2030	292.9
Thereafter	—
Total	$	697.1

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 (in millions):


	Year Ended December 31,
	2025		2024		2023
Interest income	$	11.4	$	13.8	$	7.8
Interest expense and other financing costs	(112.0)		(116.0)		(135.5)
Interest expense and other financing costs, net	$	(100.6)	$	(102.2)	$	(127.7)

Business Segments, Geographic Information, and Major Customers - Balance Sheet Items (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Accounts receivable, net:
Accounts receivable	$ 2,208.5	$ 2,432.6
Total assets:
Total assets	5,863.9	6,731.8
Operating Segments
Total assets:
Total assets	5,421.4	6,448.5
Corporate
Total assets:
Total assets	442.5	283.3
Aviation \| Operating Segments
Accounts receivable, net:
Accounts receivable	1,119.7	1,166.2
Total assets:
Total assets	2,588.7	2,548.2
Land \| Operating Segments
Accounts receivable, net:
Accounts receivable	592.5	651.1
Total assets:
Total assets	2,131.3	2,970.6
Marine \| Operating Segments
Accounts receivable, net:
Accounts receivable	496.2	615.3
Total assets:
Total assets	$ 701.4	$ 929.6

- Definition

Amount of asset recognized for present right to economic benefit.

+ References

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+ Details

Derivative Instruments - Gross Notional Values (Details) bbl in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2025 USD ($) bbl
Long \| Commodity contracts:
Derivative [Line Items]
Notional value of commodity contracts (in BBLS) \| bbl	63.9
Long \| Foreign currency exchange contracts: \| U.S. dollar
Derivative [Line Items]
Notional amount of foreign currency and interest rate contracts (in USD) \| $	$ 684.6
Short \| Commodity contracts:
Derivative [Line Items]
Notional value of commodity contracts (in BBLS) \| bbl	68.2
Short \| Foreign currency exchange contracts: \| U.S. dollar
Derivative [Line Items]
Notional amount of foreign currency and interest rate contracts (in USD) \| $	$ 434.8

Insider Trading Arrangements shares in Thousands	3 Months Ended
Insider Trading Arrangements shares in Thousands	Dec. 31, 2025 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Arrangement Duration	365 days
Michael Kasbar [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	On November 24, 2025, Michael Kasbar, Executive Chairman of our Board of Directors, adopted a trading plan for the sale of shares of our common stock, which is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act. The plan is effective on March 2, 2026 and expires upon the earlier of March 2, 2027 or completion of the sale of the maximum number of shares under the plan. The plan provides for the sale of up to 180,000 shares of our common stock.
Name	Michael Kasbar
Title	Executive Chairman
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	November 24, 2025
Expiration Date	March 2, 2027
Aggregate Available	180

Leases - Other Information Related to Leases (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Lessee, Finance Lease, Description [Abstract]
Weighted average remaining lease term of finance leases (in years)	3 years 2 months 12 days	4 years 3 months 18 days
Weighted average discount rate of finance leases	5.90%	5.40%
Lessee, Operating Lease, Description [Abstract]
Weighted average remaining lease term of operating leases (in years)	7 years 9 months 18 days	7 years 10 months 24 days
Weighted average discount rate of operating leases	5.60%	5.40%
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	$ 1.3	$ 2.3	$ 0.7
Operating cash flows from operating leases	48.4	47.5	46.2
Cash paid for amounts included in the measurement of lease liabilities:
Financing cash flows from finance leases	5.8	10.0	4.3
Right of use assets obtained in exchange for new operating lease liability	38.4	23.9	16.8
Right of use assets obtained in exchange for new finance lease liability	$ 4.1	$ 24.9	$ 3.7

Accounts Receivable - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Receivables [Abstract]
Accounts receivable	$ 2,208.5	$ 2,432.6
Allowance for credit losses	$ 16.6	23.7	$ 20.8	$ 17.3
Percent accounts receivable outstanding, less than 60 days	94.00%
Cash Proceeds from Transfer Of Financial Assets Accounted For As Sales Derecognized Amount	$ 11,500.0	11,900.0	9,500.0
Fees incurred under RPAs	$ 31.8	$ 38.5	$ 37.6

Leases - Remaining Lease Payments (Details) $ in Millions	Dec. 31, 2025 USD ($)
Operating Leases
2026	$ 36.1
2027	29.2
2028	26.3
2029	23.4
2030	22.0
Thereafter	64.3
Total remaining lease payments (undiscounted)	201.3
Less: imputed interest	40.4
Present value of lease liabilities	160.9
Finance Leases
2026	3.5
2027	0.3
2028	0.3
2029	0.3
2030	0.2
Thereafter	0.4
Total remaining lease payments (undiscounted)	5.1
Less: imputed interest	0.6
Present value of lease liabilities	$ 4.4

Basis of Presentation, New Accounting Standards, and Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2025
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The Consolidated Financial Statements and related Notes include our parent company and subsidiaries where we exercise control and include the operations of acquired businesses after the completion of their acquisition. The decision of whether or not to consolidate an entity requires consideration of majority voting interests, as well as effective economic or other control over the entity. The Consolidated Financial Statements are prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). Our fiscal year-end is as of and for the year ended December 31 for each year presented. All intercompany transactions among our consolidated subsidiaries have been eliminated. Certain amounts in the Consolidated Financial Statements and accompanying Notes may not add due to rounding. All percentages have been calculated using unrounded amounts.
New Accounting Standards	New Accounting Standards Adoption of New Accounting Standards Income Taxes. ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, was issued in December 2023. ASU 2023-09 amends the guidance in ASC 740, Income Taxes, to improve the transparency of income tax disclosures by revising the required rate reconciliation disclosures and requiring disclosure of income taxes paid disaggregated by jurisdiction. As amended, the rate reconciliation disclosure must be presented in both percentages and reporting currency amounts, with consistent categories and greater disaggregation of information. The ASU also includes changes intended to improve the effectiveness of income tax disclosures and eliminate certain existing disclosure requirements related to uncertain tax positions and unrecognized deferred tax liabilities. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, and should be applied prospectively. The Company adopted ASU 2023-09 in the fourth quarter of 2025 and has included the relevant disclosures in Note 14. Income Taxes. Accounting Standards Issued But Not Yet Adopted Expense Disaggregation. ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, was issued in November 2024. ASU 2024-03 does not change the expense captions an entity presents on the face of the income statement; however, it requires disaggregation of certain expense captions into specified categories in disclosures within the footnotes to the financial statements for each interim and annual period. The amendments require disclosure of the amounts of (a) purchases of inventory, (b) employee compensation, (c) depreciation, (d) intangible asset amortization, and (e) depreciation, depletion, and amortization recognized as part of oil- and gas-producing activities included in each relevant expense caption. The amendments also require disclosure of certain amounts that are already required to be disclosed under current guidance in the same disclosure as the other disaggregation requirements, a qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively, and the total amount of selling expenses as well as, in annual reporting periods, the entity's definition of selling expenses. ASU 2024-03 is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted. The amendments should be applied prospectively to financial statements issued for reporting periods after the effective date of the update or retrospectively to any or all prior periods presented in the financial statements. The Company is currently evaluating the amendments to identify potential impacts to the Company's Notes to the Consolidated Financial Statements and processes. Internal-Use Software. ASU 2025-06, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software, was issued in September 2025. ASU 2025-06 modernizes the accounting for internal-use software costs by eliminating the prescriptive "project stage" model and introducing a principles-based framework that is intended to better reflect current software development practices and consolidate guidance on website development costs into the broader framework for internal-use software. The amendments are effective for annual reporting periods beginning after December 15, 2027, and interim reporting periods within those annual reporting periods. Early adoption is permitted. The Company is currently evaluating the amendments to identify potential impacts to the Company’s Consolidated Financial Statements and processes. There are no other recently issued accounting standards not yet adopted by us that, upon adoption, are expected to have a material impact on the Company's Consolidated Financial Statements or processes.
Estimates and Assumptions	Estimates and Assumptions The preparation of Consolidated Financial Statements in conformity with U.S. GAAP requires us to make certain estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Accordingly, actual results could materially differ from estimated amounts. We evaluate our estimated assumptions based on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities.
Cash and Cash Equivalents	Cash and Cash Equivalents Our cash equivalents consist principally of overnight investments, bank money market accounts and bank time deposits which have an original maturity date of less than 90 days. These securities are carried at cost, which approximates market value.
Accounts Receivable and Allowance for Credit Losses	Accounts Receivable and Allowance for Credit Losses Accounts receivable are measured at amortized cost. The collectability of our accounts receivable is continuously monitored using a risk-based model, taking into consideration both the timeliness and predictability of collections from our customers. We maintain a provision for estimated credit losses based upon our historical experience with our customers, along with any specific customer collection issues that we have identified from current financial information and business prospects, as well as any political or economic conditions or other market factors, including certain assumptions based on reasonable forward-looking information from market sources. Principally based on these credit risk factors, portfolio segments are defined and an internally derived risk-based credit loss reserve is established and applied to each portfolio segment. Customer account balances that are deemed to be at high risk of collectability are reserved at higher rates than customer account balances which we expect to collect without difficulty. Individual receivables are written off when there is information indicating that the counterparty is in severe financial difficulty and the amounts are deemed uncollectible. An accounts receivable written off may still be subject to enforcement activities under our recovery procedures, taking into account legal advice where appropriate. Any subsequent recoveries made are recognized as income in the Consolidated Statements of Income and Comprehensive Income. For additional information, see Note 3. Accounts Receivable.
Inventories	Inventories Inventories are valued primarily using weighted average cost and first-in-first-out in certain limited locations. Inventory is stated at the lower of average cost or net realizable value. When evidence exists that the net realizable value of inventory is lower than its cost, the difference is recognized as a loss in the Consolidated Statements of Income and Comprehensive Income in the period in which it occurs. We utilize a variety of fuel indices and other indicators to calculate the net realizable value. The cost of inventory includes fuel purchase costs, any related transportation or distribution costs and changes in the estimated fair market values for inventories included in a fair value hedge relationship.
Business Combinations	Business Combinations A business combination occurs when an entity obtains control of a business by acquiring its net assets, or some or all of its equity interests. Before applying the acquisition method, we determine whether a transaction meets the definition of a business combination. For a transaction to be accounted for as a business combination, the entity or net assets acquired must meet the definition of a business as defined in ASC 805. Under the acquisition method, the purchase price is allocated to all identifiable assets acquired, all liabilities assumed, and any noncontrolling interest at the fair value as of the acquisition date. Any residual difference with the consideration transferred is recognized as Goodwill. Goodwill arises because the purchase price paid reflects numerous factors, including the strategic value and expected synergies that the acquisition would bring to our existing operations. Acquisition-related costs incurred in connection with a business combination are expensed as incurred. If the assets acquired do not meet the definition of a business, we account for the transaction as an asset acquisition in which goodwill is not recognized, but rather any residual difference with the consideration transferred is allocated on a relative fair value basis to all qualifying identifiable net assets acquired. For additional information, see Note 2. Acquisitions and Divestitures.
Fair Value	Fair Value Fair value is the price to sell an asset or transfer a liability and therefore represents an exit price in the principal market (or in the absence of a principal market, the most advantageous market). It represents a market-based measurement that contemplates a hypothetical transaction between market participants at the measurement date. We calculate fair value using various methodologies, depending on the type of assets, including the income approach (e.g., based on the present value of estimated future cash flows), the market approach, the cost approach, or a combination thereof. The unique characteristics of an asset or liability and the availability of observable prices affect the number of valuation approaches and/or techniques used in a fair value analysis. We measure fair value using observable and unobservable inputs. We give the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1 inputs) and the lowest priority to unobservable inputs (Level 3 inputs). We apply the following fair value hierarchy: •Level 1 – Quoted prices (unadjusted) in active markets for identical assets and liabilities. •Level 2 – Quoted prices in non-active markets or in active markets for similar assets or liabilities, observable inputs other than quoted prices; and inputs that are not directly observable but are corroborated by observable market data. •Level 3 – Inputs that are unobservable. For additional information, see Note 5. Fair Value Measurements.
Derivatives	Derivatives Our derivative contracts, except for those designated as normal purchase normal sale, are recognized at their estimated fair market value. The fair value of our derivatives is derived using observable and certain unobservable inputs, such as basis differentials, which are based on the difference between the historical prices of our prior transactions and underlying observable data; and incorporates the effect of nonperformance risk. If the derivative instrument is not designated as a hedge, changes in the estimated fair market value are recognized as a component of Revenue, Cost of revenue or Other income (expense), net (based on the underlying transaction type) in the Consolidated Statements of Income and Comprehensive Income. Derivatives that qualify for hedge accounting may be designated as either a fair value or cash flow hedge. At the inception, and on an ongoing basis, we assess the hedging relationship to determine its effectiveness in offsetting changes in cash flows or fair value attributable to the hedged risk. 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. For our cash flow hedges, the changes in the fair market value of the hedging instrument are initially recognized in other comprehensive income as a separate component of shareholders’ equity and subsequently reclassified into the same line item as the underlying forecasted transaction in the Consolidated Statements of Income and Comprehensive Income when both are settled or deemed probable of not occurring. Cash flows of derivatives that do not contain an other-than-insignificant financing element and are designated in cash flow or fair value hedges are classified in the same category as the cash flow from the hedged items in our Consolidated Statements of Cash Flows. 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. Cash flows related to all other non-hedging derivatives are classified in accordance with the nature of the derivative instrument and how it is used in the context of the entity’s business. For additional information, see Note 4. Derivative Instruments.
Property and Equipment	Property and Equipment Property and equipment are carried at cost less accumulated depreciation and amortization. Depreciation and amortization are calculated primarily by using the straight-line method over the estimated useful lives of the assets. Costs of major additions and improvements are capitalized while expenditures for maintenance and repairs, which do not extend the life of the asset, are expensed. Upon sale or disposition of property and equipment, the cost and related accumulated depreciation and amortization are eliminated from the accounts and any resulting gain or loss is credited or charged to income. Long-lived assets held and used by us (including property and equipment) are assessed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. When such assets are expected to be sold, we first evaluate whether they meet the criteria to be classified as held for sale. Long-lived assets classified as held for sale are measured at the lower of their carrying amount or fair value less cost to sell, and an impairment charge is recognized for any excess of carrying amount over fair value less cost to sell. Purchases of computer software and external costs and certain internal costs directly associated with developing significant computer software applications for internal use are capitalized within property and equipment, which also includes hosting arrangements when we have the contractual right to take possession of the software at any time during the hosting period and it is feasible for us to either run the software in our own hardware or contract with another unrelated party to host the software. Amortization of such costs is calculated primarily by using the straight-line method over the estimated useful life of the software. For additional information, see Note 6. Property and Equipment.
Goodwill	Goodwill Goodwill is evaluated for impairment at the reporting unit level annually as of December 31, or more frequently if events or circumstances indicate that the carrying value of goodwill may be impaired. We have the option to perform a qualitative assessment of goodwill rather than completing the quantitative impairment test. Under this qualitative assessment, if we conclude it is not more likely than not that the fair value of the reporting unit is less than its carrying amount, no further analysis is needed. To perform the quantitative impairment test, we compare the fair value of each reporting unit to its respective carrying amount, including goodwill. In calculating the fair value, we use a combination of both an income and market approach. Under the market approach, we use a selection of global companies that correspond to each reporting unit to derive a market-based multiple. Under the income approach, we calculate the fair value of each reporting unit based on the present value of estimated future cash flows. The estimated future cash flows are based on the best information available as of the testing date, including our annual operating plan and current forecasts, terminal growth rates, working capital requirements and capital expenditures. The estimated cash flows are discounted using rates that correspond to a weighted-average cost of capital consistent with those used internally for investment decisions. All our estimates are considered supportable assumptions that are based on a number of factors including industry experience, internal benchmarks and the economic environment. We believe these assumptions are reasonable and are consistent with those we believe a market participant would use. For additional information, see Note 7. Goodwill and Identifiable Intangible Assets.
Identifiable Intangible Assets	Identifiable Intangible Assets In connection with our acquisitions, we recognize identifiable intangible assets at fair value. After the initial recognition of the asset, the accounting treatment depends on the period over which the asset is expected to contribute directly or indirectly to the future cash flows of the company. Identifiable intangible assets with finite useful lives are amortized over their estimated useful lives and are assessed for impairment at the asset group level whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Intangible assets with indefinite useful life are not subject to amortization but are tested for impairment at least annually during the fourth quarter. This analysis generally involves the use of qualitative and quantitative information to conclude whether the fair value is greater than or equal to the carrying value. For additional information, see Note 7. Goodwill and Identifiable Intangible Assets.
Investments	Investments We hold investments accounted for under the equity method as we have the ability to exercise significant influence over the operating and financial policies of the investee, but do not have control. The carrying amount of an equity method investment is increased to reflect our share of income and is reduced to reflect our share of losses of the investee, dividends received and other-than-temporary impairments. Investments accounted for under the equity method are assessed for impairment whenever events or changes in circumstances indicate that the carrying amount of an investment may not be recoverable. We assess our intent and/or ability to recover the carrying amount of the investment over a long period. However, if the fair value of the investment is less than its carrying amount, and the investment will not recover in the near term, then an other-than-temporary impairment is recognized. Impairments of investments are classified as Goodwill and asset impairments within the Consolidated Statements of Income and Comprehensive Income.
Revenue Recognition	Revenue Recognition The majority of our consolidated revenues are generated through the sale of fuel and fuel-related products. We generally recognize fuel sales and services revenue on a gross basis as we have control of the products or services before they are delivered to our customers. In drawing this conclusion, we considered various factors, including inventory risk management, latitude in establishing the sales price, discretion in the supplier selection and that we are normally the primary obligor in our sales arrangements. 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. Revenue from services, including energy procurement advisory services and international trip support services, are recognized over the contract period when services have been performed and we have the right to invoice for those services. Under long term contracts with customers, we may provide upfront payments that are not in exchange for a distinct good or service to be provided to us. The consideration paid to the customer is accounted for as a reduction of the transaction price, and therefore revenue, at the date the related goods are transferred to the customer. Consideration received from our vendors that is not in exchange for a distinct good or service and is not a reimbursement of costs is accounted for as a reduction of the purchase price of the goods or services. Shipping and handling related fees incurred before control of the goods or services are transferred to the customer, are considered activities to fulfill the promise and not a separately promised service. When we coordinate shipping and handling activities after our customer obtains control of goods or services, we have elected to account for these shipping and handling costs as activities to fulfill the promise to transfer the goods. We have elected not to adjust the contract consideration for the effect of a significant financing component for any contract in which the period between when the Company transfers the promises in the contract and when the customer pays is a year or less. In addition, we have elected to exclude from the transaction price the amount of certain taxes assessed by a government authority that we collect (or recover) from our customer and remit in connection with our sales transactions, such as certain sales or excise taxes. We have elected to apply the optional exemption from estimating and disclosing the variable consideration from our remaining performance obligations when the transaction price is only estimated for disclosures purpose, including contracts in which the right to consideration corresponds directly with the value to the customer of the entity's performance to date. Also, we have elected to apply the exemption for contracts with fixed consideration and original expected duration of less than one year. For additional information, see Note 13. Revenue from Contracts with Customers. Our contracts with customers, which are primarily master sales agreements in combination with different types of nominations or standalone agreements, generally require us to deliver fuel and fuel-related products, while other arrangements require us to complete agreed-upon services. As our contracts go through a formal credit approval process, we only enter into contracts when we determine the amount we expect to be entitled to is probable of collection. Our billing and payment terms generally include monthly invoicing with average payment terms of one to three months. We have concluded that each gallon or barrel represents a separate performance obligation, and revenue is recognized at the point in time when control of each gallon or barrel transfers to our customer. We may incur costs for the transportation of products to the delivery points. Reimbursements of such costs are normally included in the transaction price. Our contracts may contain fixed pricing, variable pricing, or a combination. The pricing structures of our fuel sales that involve variable prices, such as market or index-based pricing or reimbursements of costs, typically correspond to our efforts to transfer the promised fuel, and we recognize revenue based on those variable prices for the related gallons or barrels that we have delivered. Our 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 also have fixed price fuel and fuel-related product sale contracts with a contract term of less than one year (typically one month). We also earn an immaterial amount of revenue from contracts to provide services, including energy procurement advisory services, international trip support services, and transaction and payment management processing, which typically represent a single performance obligation for the series of daily services.
Share-Based Payment Awards	Share-Based Payment Awards We account for share-based payment awards on a fair value basis of the equity instrument issued. Under fair value accounting, the grant-date fair value of the share-based payment award is amortized as compensation expense, on a straight-line basis, over the service period (generally, the vesting period) for both graded and cliff vesting awards. We have elected to account for forfeitures as they occur. For additional information, see Note 11. Shareholders' Equity.
Foreign Currency	Foreign Currency Generally, the functional currency of our subsidiaries is the U.S. dollar, except for certain foreign subsidiaries which utilize their respective local currency as their functional currency. Monetary assets and liabilities denominated in a currency that is different from the functional currency are remeasured from the applicable currency to the functional currency using month-end exchange rates. Foreign currency transaction gains and losses are included in Other income (expense), net, in the accompanying Consolidated Statements of Income and Comprehensive Income in the period incurred. Revenues and expenses of the subsidiaries that have a functional currency other than the U.S. dollar have been translated into U.S. dollars at average exchange rates prevailing during the period. The assets and liabilities of these subsidiaries have been translated at the rates of exchange on the balance sheet dates. The resulting translation gain and loss adjustments are recorded in Accumulated Other Comprehensive Income as a separate component of Shareholders’ Equity.
Income Taxes	Income Taxes Income taxes are accounted for under the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, and operating loss and income tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted income tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in income tax rates is recorded as a component of the income tax provision in the period that includes the enactment date. Regular assessments are made on the likelihood that our deferred tax assets will be recovered from our future taxable income. Our evaluation is based on estimates, assumptions, and includes an analysis of available positive and negative evidence, giving weight based on the evidence’s relative objectivity. Sources of positive evidence include estimates of future taxable income, future reversal of existing taxable temporary differences, taxable income in carryback years, and available tax planning strategies. Sources of negative evidence include current and cumulative losses in recent years, losses expected in early future years, any history of operating losses or tax credit carryforwards expiring unused, and unsettled circumstances that, if unfavorably resolved, would adversely affect future profit levels. The remaining carrying value of our deferred tax assets, after recording the valuation allowance on our deferred tax assets, is based on our present belief that it is more likely than not that we will be able to generate sufficient future taxable income in certain tax jurisdictions to utilize such deferred tax assets. The amount of the remaining deferred tax assets considered recoverable could be adjusted if our estimates of future taxable income during the carryforward period change favorably or unfavorably. To the extent we believe that it is more likely than not that some or all of the remaining deferred tax assets will not be realized, we must establish a valuation allowance against those deferred tax assets, resulting in additional income tax expense in the period such determination is made. To the extent a valuation allowance currently exists, we will continue to monitor all positive and negative evidence until we believe it is more likely than not that it is no longer necessary, resulting in an income tax benefit in the period such determination is made. Significant judgment is required in evaluating our tax positions, and in determining our provisions for income taxes, our deferred tax assets and liabilities and any valuation allowance recorded against our net deferred tax assets. We establish reserves when, despite our belief that the income tax return positions are fully supportable, certain positions are likely to be challenged and we may ultimately not prevail in defending those positions. For additional information, see Note 14. Income Taxes.
Earnings per Common Share	Earnings per Common Share Basic earnings per common share is computed by dividing net income attributable to World Kinect and available to common shareholders by the weighted average number of shares of common stock outstanding for the period. Diluted earnings per common share is computed by dividing net income attributable to World Kinect and available to common shareholders by the sum of the weighted average number of shares of common stock outstanding for the period and the number of additional shares of common stock that would have been outstanding if our outstanding potentially dilutive securities had been issued. Potentially dilutive securities include share-based compensation awards, such as restricted stock subject to forfeitable dividends, non-vested restricted stock units ("RSUs"), performance stock units where the performance requirements have been met, and settled stock appreciation rights awards ("SSARs"), as well as the Convertible Notes discussed in Note 9. Debt, Interest Income, Expense, and Other Finance Costs. The dilutive effect of potentially dilutive share-based compensation awards is reflected in diluted earnings per common share by application of the treasury stock method, unless its impact is anti-dilutive. Under the treasury stock method, an increase in the fair market value of our common stock can result in a greater dilutive effect from potentially dilutive securities. The dilutive effect of the Convertible Notes is determined by application of the if-converted method. The if-converted method assumes that these securities were converted at the beginning of the reporting period to the extent that the effect is dilutive. The Convertible Notes would have a dilutive impact when the average market price of the Company's common stock for a given period exceeds the respective conversion price of the Convertible Notes. For additional information, see Note 17. Earnings per Common Share.
Leases	Leases We determine if an arrangement is a lease at contract inception. Determining whether a contract contains a lease includes judgment regarding whether the contract conveys the right to control the use of identified property or equipment for a period of time in exchange for consideration. As a lessee, 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 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. 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. We assess right-of-use assets for impairment at the asset group level whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Impairments are classified as Goodwill and other asset impairments within the Consolidated Statements of Income and Comprehensive Income. For additional information, see Note 12. Leases.
Loss Contingencies	Loss Contingencies In determining whether an accrual for a loss contingency is required, we first assess the likelihood of occurrence of the future event or events that will confirm the loss. When a loss is probable (the future event or events are likely to occur) and the amount of the loss can be reasonably estimated, the estimated loss is accrued. If the reasonable estimate of the loss is a range and an amount within the range appears to be a better estimate than any other amount within the range, that amount is accrued. However, if no amount within the range is a better estimate, the minimum amount in the range should be accrued. When a loss is reasonably possible (the chance of the future event or events occurring is more than remote but less than likely), no accrual is recognized. For additional information, see Note 14. Income Taxes and Note 10. Commitments and Contingencies.

Supplier Finance Programs (Details) - USD ($) $ in Millions	12 Months Ended
Supplier Finance Programs (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Supplier Finance Programs, Obligation [Roll Forward]
Supplier Finance Program, Obligation, Current, Beginning Balance	$ 168.8	$ 198.8
Supplier Finance Program, Obligation, Current, Statement of Financial Position [Extensible Enumeration]	Accounts payable
Obligations confirmed during the period	$ 1,522.7	1,213.1
Confirmed invoices paid during the period	(1,481.4)	(1,243.1)
Supplier Finance Program, Obligation, Ending Balance	$ 210.1	$ 168.8
Supplier Finance Program, Obligation, Current, Statement of Financial Position [Extensible Enumeration]	Accounts payable

Income Taxes - Cash Paid for Income Taxes (Individual Jurisdictions) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2025 USD ($)
Cash Paid for Income Taxes, Net of Refunds Received, Individual Jurisdictions [Line Items]
State	$ 2.3
Foreign	57.8
Foreign Tax Jurisdiction \| Denmark
Cash Paid for Income Taxes, Net of Refunds Received, Individual Jurisdictions [Line Items]
Foreign	7.6
Foreign Tax Jurisdiction \| U.K.
Cash Paid for Income Taxes, Net of Refunds Received, Individual Jurisdictions [Line Items]
Foreign	23.8
Foreign Tax Jurisdiction \| NETHERLANDS
Cash Paid for Income Taxes, Net of Refunds Received, Individual Jurisdictions [Line Items]
Foreign	5.2
Foreign Tax Jurisdiction \| Singapore
Cash Paid for Income Taxes, Net of Refunds Received, Individual Jurisdictions [Line Items]
Foreign	9.6
Foreign Tax Jurisdiction, Other
Cash Paid for Income Taxes, Net of Refunds Received, Individual Jurisdictions [Line Items]
Foreign	$ 11.6

Income Taxes - Income (Loss) Before Income Taxes and Tax Provision (Benefit) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
United States	$ (609.9)	$ (20.5)	$ (34.8)
Foreign	(129.8)	116.1	101.5
Income (loss) before income taxes	(739.7)	95.5	66.7
Current:
U.S. federal statutory tax	13.4	8.4	8.9
State	1.3	1.8	2.4
Foreign	32.8	40.1	23.4
Total current income tax provision (benefit)	47.4	50.2	34.8
Deferred:
U.S. federal statutory tax	(136.9)	(3.3)	(12.7)
State	(44.6)	(1.3)	(1.1)
Foreign	5.1	(10.6)	(16.9)
Total deferred income (loss) before income taxes	(176.4)	(15.3)	(30.7)
Non-current tax expense (income)	1.0	(7.4)	8.9
Income tax expense (benefit)	$ (127.9)	$ 27.6	$ 13.0

Income Taxes - Temporary Differences (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Gross Deferred Tax Assets:
Bad debt reserve and accrued expenses	$ 13.5	$ 10.1
Net operating loss	79.9	62.5
Accrued and other share-based compensation	26.3	22.7
Goodwill and intangible assets	29.8	0.0
U.S. foreign income tax credits	49.5	29.3
Unrealized foreign exchange, derivatives, and cash flow hedges	3.2	0.0
Interest expense limitations	82.6	75.2
Other	9.3	9.0
Total gross deferred tax assets	294.2	208.9
Less: Valuation allowance	46.2	16.8
Gross deferred tax assets, net of valuation allowance	247.9	192.0
Gross Deferred Tax Liabilities:
Depreciation	(28.6)	(33.6)
Goodwill and intangible assets	0.0	(108.1)
Unrealized foreign exchange, derivatives, and cash flow hedges	0.0	(1.8)
Deferred tax costs on foreign unrepatriated earnings	(15.9)	(10.1)
Other	(3.0)	(5.2)
Total gross deferred tax liabilities	(47.6)	(158.8)
Net deferred tax liability	0.0	0.0
Net deferred tax asset	200.4	33.2
Reported on the Consolidated Balance Sheets as:
SEC Schedule, 12-09, Valuation Allowances and Reserves, Additions, Charge to Cost and Expense	36.6
SEC Schedule, 12-09, Valuation Allowances and Reserves, Deduction	(7.2)
Other Noncurrent Assets
Reported on the Consolidated Balance Sheets as:
Other non-current assets for deferred tax assets, non-current	214.2	78.8
Other long-term liabilities
Reported on the Consolidated Balance Sheets as:
Other long-term liabilities, net for deferred tax liabilities, non-current	$ 13.8	$ 45.6

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2025

Fair Value Disclosures [Abstract]

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

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


	Fair Value Measurements as of December 31, 2025
		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total Fair Value
Assets:
Commodities contracts		$	113.4	$	159.6	$	10.7	$	283.7

Foreign currency contracts		—		7.6		—		7.6
Cash surrender value of life insurance		—		20.1		—		20.1
Total assets at fair value		$	113.4	$	187.3	$	10.7	$	311.4

Liabilities:
Commodities contracts		$	118.5	$	96.4	$	3.8	$	218.6

Foreign currency contracts		—		9.8		—		9.8
Total liabilities at fair value		$	118.5	$	106.1	$	3.8	$	228.4


	Fair Value Measurements as of December 31, 2024
		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs		Total Fair Value
Assets:
Commodities contracts		$	157.4	$	300.8	$	9.4	$	467.6
Interest rate contract		—		2.9		—		2.9
Foreign currency contracts		—		29.1		—		29.1
Cash surrender value of life insurance		—		20.0		—		20.0
Total assets at fair value		$	157.4	$	352.8	$	9.4	$	519.6

Liabilities:
Commodities contracts		$	165.9	$	209.1	$	3.7	$	378.7

Foreign currency contracts		—		22.9		—		22.9
Total liabilities at fair value		$	165.9	$	232.0	$	3.7	$	401.6

Schedule of Derivative Instruments at Fair Value and Their Locations on the Balance Sheets

The following tables summarize those derivative balances subject to the right of offset as presented on our Consolidated Balance Sheets (in millions):


	Fair Value as of December 31, 2025
	Gross Amounts Recognized		Gross Amounts Offset		Net Amounts Presented		Cash Collateral		Gross Amounts Without Right of Offset		Net Amounts
Assets:
Commodities contracts	$	283.7	$	151.3	$	132.4	$	8.2	$	—	$	124.2

Foreign currency contracts	7.6		6.5		1.1		—		—		1.1
Total assets at fair value	$	291.3	$	157.8	$	133.5	$	8.2	$	—	$	125.3

Liabilities:
Commodities contracts	$	218.6	$	151.3	$	67.4	$	6.0	$	—	$	61.3

Foreign currency contracts	9.8		6.5		3.3		—		—		3.3
Total liabilities at fair value	$	228.4	$	157.8	$	70.6	$	6.0	$	—	$	64.6


	Fair Value as of December 31, 2024
	Gross Amounts Recognized		Gross Amounts Offset		Net Amounts Presented		Cash Collateral		Gross Amounts Without Right of Offset		Net Amounts
Assets:
Commodities contracts	$	467.6	$	253.2	$	214.4	$	0.1	$	—	$	214.3
Interest rate contract	2.9		—		2.9		—		—		2.9
Foreign currency contracts	29.1		20.7		8.5		—		—		8.5
Total assets at fair value	$	499.6	$	273.9	$	225.8	$	0.1	$	—	$	225.6

Liabilities:
Commodities contracts	$	378.7	$	253.2	$	125.5	$	12.1	$	—	$	113.4

Foreign currency contracts	22.9		20.7		2.3		—		—		2.3
Total liabilities at fair value	$	401.6	$	273.9	$	127.8	$	12.1	$	—	$	115.6

Schedule of nonrecurring fair value measurements related to goodwill and other asset impairment charges

The following table summarizes our goodwill and other asset impairment charges and related nonrecurring fair value measurements (in millions):


	Year Ended December 31,
	2025		2024		2023
Goodwill impairment (1)	$	528.3	$	—	$	—
Land Fuel Transportation and Lubricants disposal group impairment (2)	49.7		—		—
Watson Fuels asset group impairment (3)	44.5		—		—
Falmouth disposal group impairment (4)	35.0		—		—
Intangible asset impairments (5)	21.0		—		—
Asset impairments associated with exit activities (6)	5.8		3.1		11.2
Cost method investment impairments (7)(8)	5.4		—		5.0
Equity method investment impairments (9)	—		18.2		14.1
Other	—		7.7		2.5
Goodwill and other asset impairments total	$	689.6	$	29.0	$	32.8

(1)See Note 7. Goodwill and Identifiable Intangible Assets for additional disclosures related to goodwill impairments recognized during the year ended December 31, 2025.

(2)See Note 2. Acquisitions and Divestitures for additional disclosures related to asset impairment charges related to the Land Fuel Transportation and Lubricants disposal group.

(6)See Note 16. Restructuring and Exit Activities for additional disclosures related asset impairment charges recognized in connection with restructuring and exit activities.

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Dec. 31, 2025
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Income Taxes

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Income Taxes

14. Income Taxes

Income Tax Expense (Benefit)

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


	Year Ended December 31,
	2025		2024		2023
United States	$	(609.9)	$	(20.5)	$	(34.8)
Foreign	(129.8)		116.1		101.5
Income (loss) before income taxes	$	(739.7)	$	95.5	$	66.7

Our total income tax expense (benefit) related to income before income taxes consists of the following components (in millions):


	Year Ended December 31,
	2025		2024		2023
Current:
U.S. federal statutory tax	$	13.4	$	8.4	$	8.9
State	1.3		1.8		2.4
Foreign	32.8		40.1		23.4
Current income tax expense (benefit)	47.4		50.2		34.8
Deferred:
U.S. federal statutory tax	(136.9)		(3.3)		(12.7)
State	(44.6)		(1.3)		(1.1)
Foreign	5.1		(10.6)		(16.9)
Deferred income tax expense (benefit)	(176.4)		(15.3)		(30.7)
Non-current tax expense (benefit) (1)	1.0		(7.4)		8.9
Total income tax expense (benefit)	$	(127.9)	$	27.6	$	13.0

(1)Non-current tax expense (benefit) is primarily related to income tax associated with the reserve for uncertain tax positions, including associated interest and penalties.

Cash Paid for Income Taxes

Cash paid for income taxes, net of refunds received, consists of the following (in millions):


	Year Ended December 31, 2025

Federal	$	36.9
State	2.3
Foreign	57.8
Total cash paid for income taxes, net of refunds received (1)	$	97.0

(1)Total cash paid for income taxes, net of refunds received, was $51.6 million and $42.0 million for the years ended December 31, 2024 and 2023, respectively.

Cash paid for income taxes, net of refunds received, to individual jurisdictions in excess of 5% of total income taxes paid, net of refunds received, is as follows (in millions):


	Year Ended December 31, 2025












Foreign:
Denmark	$	7.6
Netherlands	5.2
Singapore	9.6
United Kingdom	23.8
Other foreign jurisdictions	11.6

Income Tax Rate Reconciliation

A reconciliation of our tax provision and effective tax rate to the tax provision calculated using the U.S. federal statutory income tax rate is as follows (in millions):


	Year Ended December 31, 2025
Tax provision based on U.S. federal statutory tax rate	$	(155.3)	21.0	%
State and local income tax, net of federal (national) income tax effect (1)	(29.3)		4.0	%
Foreign tax effects:
Norway:
Changes in valuation allowances	20.5		(2.8)	%
Other	1.0		(0.1)	%
United Kingdom:
Changes in valuation allowances	9.6		(1.3)	%
Goodwill impairment	20.5		(2.8)	%
Sale of business	19.7		(2.7)	%
Other	(8.2)		1.1	%
Foreign tax effects - all other	17.5		(2.4)	%

Effect of cross-border tax laws:
GILTI	8.6		(1.2)	%
U.S. tax on branch income (loss)	(43.5)		5.9	%
Other	9.5		(1.3)	%
Tax credits:
Foreign tax credits	(19.3)		2.6	%
Changes in valuation allowances	0.9		(0.1)	%

Nontaxable or nondeductible items	0.1		—	%
Changes in unrecognized tax benefits	1.0		(0.1)	%
Other adjustments:
Sale of business	15.3		(2.1)	%
Other	3.4		(0.5)	%








Effective tax rate	$	(127.9)	17.3	%

(1)State taxes in Florida, California, Illinois, and New York made up the majority (greater than 50 percent) of the tax effect for this category.

For the year ended December 31, 2025, our income tax benefit was $127.9 million and our effective income tax rate was 17.3%. Our income tax benefit for the year ended December 31, 2025 includes a net discrete income tax expense of $18.1 million, of which $39.6 million related to the recognition of valuation allowances, primarily related to exit activities and the Falmouth disposal group, and $2.6 million, net, related to the change in the tax accounting status of certain foreign earnings as well as return-to-provision and other adjustments, partially offset by a tax benefit of $24.1 million related to the Watson Fuels sale and related asset impairment charges.

A reconciliation of the income tax expense (benefit) calculated using the U.S. federal statutory income tax rate to our tax provision is as follows (in millions):


	Year Ended December 31,
	2024		2023
Tax provision based on U.S. federal statutory tax rate	$	20.1	$	14.0
Foreign rates varying from federal statutory tax rate	(0.2)		(1.5)
State income taxes, net of U.S. federal income tax benefit	2.2		7.5
U.S. taxes on foreign earnings and other tax reform impacts	10.3		9.4
Uncertain tax positions	(7.4)		8.9
Statutory adjustments, including foreign currency and tax rate changes	4.9		(9.2)
Non-taxable interest income & non-deductible interest expense	0.5		(3.3)
Valuation allowances	4.0		(10.9)
Non-deductible officer compensation	1.2		1.8
Withholding tax	10.0		8.0
Foreign tax credit	(18.6)		(13.2)
Sale of Avinode business	12.4		—
Sale of Brazil business	(6.0)		—
Worthless stock deduction	(6.2)		—
Other	0.6		1.5
Total income tax expense (benefit)	$	27.6	$	13.0

For the year ended December 31, 2024, our income tax provision was $27.6 million and our effective income tax rate was 28.9%. Our income tax provision for the year ended December 31, 2024 included a net discrete income tax expense of $3.2 million, of which a tax expense of $12.4 million related to the tax on gain from the Avinode sale and a net tax expense of $3.0 million related to worldwide return-to-provision adjustments, partially offset by a net tax benefit of $8.4 million related to the remeasurement of uncertain tax positions as well as a net tax benefit of $4.4 million related to the tax loss from the Brazil sale.

We have analyzed our global working capital and cash requirements and the potential tax liabilities attributable to repatriation and have determined that we intend to continue our assertion that the earnings of certain of our non-U.S. subsidiaries are indefinitely reinvested. At December 31, 2025, $48.7 million of our foreign earnings were permanently reinvested in non-US business operations. For these investments, if not reinvested indefinitely, we could potentially owe approximately $6.8 million in foreign withholding tax. We also have $1.7 billion of accumulated foreign earnings that are actually or deemed repatriated, for which we have estimated the associated foreign withholding and state income tax effects to be $15.9 million for the year ended December 31, 2025.

Deferred Tax Assets and Liabilities

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


	As of December 31,
	2025		2024
Gross Deferred Tax Assets:
Bad debt reserve and accrued expenses	$	13.5	$	10.1
Net operating loss	79.9		62.5
Accrued and other share-based compensation	26.3		22.7
Goodwill and intangible assets	29.8		—
U.S. foreign income tax credits	49.5		29.3
Unrealized foreign exchange, derivatives, and cash flow hedges	3.2		—
Interest expense limitations	82.6		75.2
Other	9.3		9.0
Total gross deferred tax assets	294.2		208.9
Less: Valuation allowance (1)	46.2		16.8
Gross deferred tax assets, net of valuation allowance	247.9		192.0
Gross Deferred Tax Liabilities:
Depreciation	(28.6)		(33.6)
Goodwill and intangible assets	—		(108.1)
Unrealized foreign exchange, derivatives, and cash flow hedges	—		(1.8)
Deferred tax costs on foreign unrepatriated earnings	(15.9)		(10.1)
Other	(3.0)		(5.2)
Total gross deferred tax liabilities	(47.6)		(158.8)
Net deferred tax liability	$	—	$	—
Net deferred tax asset	$	200.4	$	33.2
Reported on the Consolidated Balance Sheets as:
Other non-current assets for deferred tax assets, non-current	$	214.2	$	78.8
Other long-term liabilities, net for deferred tax liabilities, non-current	$	13.8	$	45.6

As of December 31, 2025 and 2024, we had gross net operating losses ("NOLs") of approximately $500.2 million and $417.6 million, respectively. The NOLs as of December 31, 2025 originated in various U.S. states and non-U.S. countries. We have recorded a deferred tax asset of $79.9 million reflecting the benefit of the NOL carryforward as of December 31, 2025. This deferred tax asset expires as follows (in millions):


Net Operating Loss	Expiration Date	Deferred Tax Asset
US Federal	Indefinite	$	5.5
US States	2026-2045	11.3
US States	Indefinite	6.2
Foreign	2025-2044	6.6
Foreign	Indefinite	50.4
Total		$	79.9

We assessed the available positive and negative evidence to estimate if sufficient future taxable income will be generated to use the existing deferred tax assets. On the basis of this evaluation, as of December 31, 2025, a valuation allowance of $46.2 million exists on the deferred tax assets that are not expected to be realized, $37.5 million of which relates to the deferred tax asset for NOLs. The amount of the deferred tax asset considered realizable could be adjusted if estimates of future taxable income during the carryforward period change or if

objective negative evidence in the form of cumulative losses is no longer present and additional weight may be given to subjective evidence such as growth projections.

Singapore Tax Concession

We have operated under a special income tax concession in Singapore since 2008, which is subject to renewal. Our current five-year income tax concession period began January 1, 2023. It remains conditional upon our meeting certain employment and investment thresholds which, if not met in accordance with our agreement, may eliminate the benefit beginning with the first year in which the conditions are not satisfied. The income tax concession reduces the income tax rate on qualified sales and derivative gains and losses.

The decrease to our foreign income taxes from the Singapore tax concession was as follows (in millions, except per share amounts):


	Year Ended December 31,
	2025		2024		2023
Singapore tax concession impact on foreign income tax	$	(1.0)	$	(2.5)	$	(2.1)
Impact on basic earnings per share	$	(0.02)	$	(0.04)	$	(0.03)
Impact on diluted earnings per share	$	(0.02)	$	(0.04)	$	(0.03)

Income Tax Contingencies

We record gross assets and liabilities for unrecognized income tax benefits ("Unrecognized Tax Assets" and "Unrecognized Tax Liabilities", respectively) in our Consolidated Balance Sheets.

During the year ended December 31, 2025, we recorded a net increase of Unrecognized Tax Liabilities of $3.6 million and a net decrease to Unrecognized Tax Assets of $0.7 million. In addition, during the year ended December 31, 2025, we recorded a decrease of $6.5 million to our Unrecognized Tax Liabilities related to a foreign currency translation loss, which is included in Other income (expense), net in the accompanying Consolidated Statements of Income and Comprehensive Income. As of December 31, 2025, our Unrecognized Tax Liabilities, including penalties and interest, were $95.9 million and our Unrecognized Tax Assets were $16.6 million.

During the year ended December 31, 2024, we recorded a net decrease of Unrecognized Tax Liabilities of $11.2 million and a net decrease to Unrecognized Tax Assets of $3.8 million. In addition, during the year ended December 31, 2024, we recorded a decrease of $3.7 million to our Unrecognized Tax Liabilities related to a foreign currency translation loss, which is included in Other income (expense), net in the accompanying Consolidated Statements of Income and Comprehensive Income. As of December 31, 2024, our Unrecognized Tax Liabilities, including penalties and interest, were $90.8 million and our Unrecognized Tax Assets were $17.2 million.

The following is a tabular reconciliation of the total amounts of gross Unrecognized Tax Liabilities for the year (in millions):


	Year Ended December 31,
	2025		2024		2023
Gross Unrecognized Tax Liabilities – opening balance	$	61.8	$	73.1	$	68.1
Gross increases – tax positions in prior period	8.9		1.5		7.7
Gross decreases – tax positions in prior period	(1.1)		(8.8)		(0.4)
Gross increases – tax positions in current period	2.4		2.2		1.4
Gross decreases – tax positions in current period	(0.3)		—		—
Settlements	(2.0)		(3.0)		(0.5)

Lapse of statute of limitations	(4.4)		(3.1)		(3.2)
Gross Unrecognized Tax Liabilities – ending balance	$	65.4	$	61.8	$	73.1

If our gross Unrecognized Tax Liabilities, net of our Unrecognized Tax Assets of $16.6 million, as of December 31, 2025, are settled by the taxing authorities in our favor or otherwise resolved, our income tax expense would be reduced by $48.9 million (exclusive of interest and penalties) in the period the matter is considered settled or resolved in accordance with ASC 740. This would have the impact of reducing our 2025 effective income tax rate by 6.7%.

We record accrued interest and penalties related to unrecognized income tax benefits as income tax expense. Related to the uncertain income tax benefits noted above, for interest we recorded expense of $2.1 million, income of $1.3 million and expense of $5.1 million during the years ended December 31, 2025, 2024, and 2023, respectively. For penalties, we recorded income of $0.5 million, income of $3.1 million, and expense of $2.8 million during the years ended December 31, 2025, 2024, and 2023, respectively. As of December 31, 2025 and 2024, we had recognized liabilities of $26.6 million and $24.5 million for interest and $3.9 million and $4.4 million for penalties, respectively.

We have various tax returns under examination both in the U.S. and foreign jurisdictions. The most material of these is in Denmark, where one of our subsidiaries has been under audit since 2018. Through December 31, 2025, we have received final tax assessments for the 2013 through 2019 tax years of approximately $123.6 million (DKK 785.7 million), and proposed tax assessments for the 2020 and 2021 tax years of approximately $27.0 million (DKK 171.5 million), excluding interest, which would be material. We believe we have substantial defenses to these assessments and expect to continue to pursue available administrative and judicial remedies to resolve this matter.

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

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


	Open Tax Year
Jurisdiction	Examination in progress	Examination not yet initiated
Denmark	2013-2021	2022-2025
United States	2020	2022-2025
United Kingdom	None	2024-2025
Singapore	None	2022-2025
Other non-U.S.	None	2015-2025

The Organization for Economic Co-operation and Development ("OECD") issued Pillar Two model rules which have been enacted or substantively enacted in several jurisdictions in which the Company operates. The legislation was effective for the Company’s financial year beginning January 1, 2024. The rules provide a framework for a coordinated multi-country system of taxation intended to ensure large multinational groups pay a minimum level of tax of 15% on the income arising in the jurisdictions where they operate. The estimated Pillar Two taxes do not have a material impact on the annual effective tax rate or the income tax provision for the years ended December 31, 2025 or 2024. On January 5, 2026, the OECD released Pillar Two guidance related to a "side-by-side arrangement" beginning in 2026, which will largely exclude U.S. parented companies from the impact of certain Pillar Two provisions. We will continue to monitor new legislation and assess any potential impact to the Company.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 740
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477617/942-740-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 740
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478822/944-740-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-13

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/740/tableOfContent

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-14

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-21

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-17

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

Restructuring and Exit Activities - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Dec. 31, 2024	Jun. 30, 2024	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Restructuring and Exit Activities Cost and Reserve [Line Items]
Restructuring and Exit Activities Charges			$ 103.1	$ 7.1	$ 7.2
Restructuring and Exit Activities Reserve	$ 2.0		46.6	2.0	5.7
Payments for Restructuring and Exit Activities			(23.7)	(7.5)
Goodwill and other asset impairments			689.6	29.0	32.8
Accounts Receivable, Allowance for Credit Loss, Writeoff			11.2	10.6	1.5
Operating Segments
Restructuring and Exit Activities Cost and Reserve [Line Items]
Restructuring and Exit Activities Charges			74.5	6.6	5.5
Goodwill and other asset impairments			689.6	7.0	13.7
Operating Segments \| Aviation
Restructuring and Exit Activities Cost and Reserve [Line Items]
Restructuring and Exit Activities Charges			6.9	0.1	1.5
Restructuring and Exit Activities Reserve	0.0		3.3	0.0	1.2
Payments for Restructuring and Exit Activities			(3.7)	(1.3)
Goodwill and other asset impairments			0.1	0.1	0.8
Operating Segments \| Land
Restructuring and Exit Activities Cost and Reserve [Line Items]
Restructuring and Exit Activities Charges			65.8	3.2	4.0
Restructuring and Exit Activities Reserve	1.7		31.6	1.7	3.7
Payments for Restructuring and Exit Activities			(8.1)	(5.1)
Goodwill and other asset impairments			654.7	6.9	12.8
Operating Segments \| Marine
Restructuring and Exit Activities Cost and Reserve [Line Items]
Restructuring and Exit Activities Charges			1.8	3.3	0.0
Restructuring and Exit Activities Reserve	0.0		1.2	0.0	0.0
Payments for Restructuring and Exit Activities			(0.6)	0.0
Goodwill and other asset impairments			35.1	0.0	0.0
Corporate
Restructuring and Exit Activities Cost and Reserve [Line Items]
Restructuring and Exit Activities Reserve	0.3		10.5	0.3	0.9
Payments for Restructuring and Exit Activities			(11.3)	(1.1)
Restructuring, 2023 Initiative \| Employee Severance
Restructuring and Exit Activities Cost and Reserve [Line Items]
Restructuring and Exit Activities Charges					7.2
Restructuring, 2023 Initiative \| Other Restructuring
Restructuring and Exit Activities Cost and Reserve [Line Items]
Goodwill and other asset impairments					$ 11.2
Restructuring Costs		$ 3.3
2024 Exit Activities
Restructuring and Exit Activities Cost and Reserve [Line Items]
Restructuring and Exit Activities Charges				3.8
Accounts Receivable, Allowance for Credit Loss, Writeoff	4.4
2024 Exit Activities \| Employee Severance
Restructuring and Exit Activities Cost and Reserve [Line Items]
Restructuring and Exit Activities Charges	$ 1.4
2024 Exit Activities \| Other Restructuring
Restructuring and Exit Activities Cost and Reserve [Line Items]
Goodwill and other asset impairments				3.1
2024 Exit Activities \| Operating Segments \| Aviation
Restructuring and Exit Activities Cost and Reserve [Line Items]
Restructuring and Exit Activities Charges				0.1
2024 Exit Activities \| Operating Segments \| Land
Restructuring and Exit Activities Cost and Reserve [Line Items]
Restructuring and Exit Activities Charges				3.2
2024 Exit Activities \| Operating Segments \| Marine
Restructuring and Exit Activities Cost and Reserve [Line Items]
Restructuring and Exit Activities Charges				0.0
2024 Exit Activities \| Corporate
Restructuring and Exit Activities Cost and Reserve [Line Items]
Restructuring and Exit Activities Charges				$ 0.5
Restructuring, 2025 Initiative
Restructuring and Exit Activities Cost and Reserve [Line Items]
Restructuring and Exit Activities Charges			45.2
Restructuring and Related Cost, Expected Cost			10.8
Restructuring, 2025 Initiative \| Employee Severance
Restructuring and Exit Activities Cost and Reserve [Line Items]
Restructuring and Exit Activities Charges			32.7
Restructuring, 2025 Initiative \| Other Restructuring
Restructuring and Exit Activities Cost and Reserve [Line Items]
Restructuring and Exit Activities Charges			12.6
2025 Exit Activities
Restructuring and Exit Activities Cost and Reserve [Line Items]
Restructuring and Exit Activities Charges			57.8
2025 Exit Activities \| Employee Severance
Restructuring and Exit Activities Cost and Reserve [Line Items]
Restructuring and Exit Activities Charges			26.2
2025 Exit Activities \| Other Restructuring
Restructuring and Exit Activities Cost and Reserve [Line Items]
Goodwill and other asset impairments			5.8
2025 Exit Activities \| Contract Termination
Restructuring and Exit Activities Cost and Reserve [Line Items]
Restructuring and Exit Activities Charges			21.7
2025 Exit Activities \| Writeoff of Receivables and Other Assets
Restructuring and Exit Activities Cost and Reserve [Line Items]
Restructuring Costs			5.1
2025 Exit Activities \| Loss on Sale of Assets
Restructuring and Exit Activities Cost and Reserve [Line Items]
Restructuring Costs			4.7
2025 Restructuring and Exit Activities
Restructuring and Exit Activities Cost and Reserve [Line Items]
Restructuring and Exit Activities Charges			68.3
2025 Restructuring and Exit Activities \| Operating Segments \| Aviation
Restructuring and Exit Activities Cost and Reserve [Line Items]
Restructuring and Exit Activities Charges			6.9
2025 Restructuring and Exit Activities \| Operating Segments \| Land
Restructuring and Exit Activities Cost and Reserve [Line Items]
Restructuring and Exit Activities Charges			38.0
2025 Restructuring and Exit Activities \| Operating Segments \| Marine
Restructuring and Exit Activities Cost and Reserve [Line Items]
Restructuring and Exit Activities Charges			1.8
2025 Restructuring and Exit Activities \| Corporate
Restructuring and Exit Activities Cost and Reserve [Line Items]
Restructuring and Exit Activities Charges			$ 21.5

Revenue from Contracts with Customers (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Other revenues (excluded from ASC 606)	$ 19.4	$ (104.7)	$ (183.2)
Revenues	36,916.6	42,168.0	47,710.6
Asia Pacific
Disaggregation of Revenue [Line Items]
Revenue, ASC 606	4,602.0	5,401.3	5,541.5
Revenues	4,568.4	5,366.0	5,430.7
EMEA
Disaggregation of Revenue [Line Items]
Revenue, ASC 606	7,908.7	9,653.5	10,021.2
Revenues	7,941.6	9,672.9	10,003.2
LATAM
Disaggregation of Revenue [Line Items]
Revenue, ASC 606	4,420.8	5,475.5	5,983.8
North America
Disaggregation of Revenue [Line Items]
Revenue, ASC 606	19,965.7	21,742.5	26,347.3
Aviation \| Asia Pacific
Disaggregation of Revenue [Line Items]
Revenue, ASC 606	1,021.7	1,106.8	1,151.9
Aviation \| EMEA
Disaggregation of Revenue [Line Items]
Revenue, ASC 606	4,375.1	4,641.7	4,320.6
Aviation \| LATAM
Disaggregation of Revenue [Line Items]
Revenue, ASC 606	3,720.1	3,785.7	4,167.4
Aviation \| North America
Disaggregation of Revenue [Line Items]
Revenue, ASC 606	9,846.7	10,913.1	13,625.0
Land \| Asia Pacific
Disaggregation of Revenue [Line Items]
Revenue, ASC 606	68.4	113.5	153.9
Land \| EMEA
Disaggregation of Revenue [Line Items]
Revenue, ASC 606	1,560.2	2,798.2	3,224.8
Land \| LATAM
Disaggregation of Revenue [Line Items]
Revenue, ASC 606	0.1	918.1	1,010.4
Land \| North America
Disaggregation of Revenue [Line Items]
Revenue, ASC 606	8,625.0	9,108.6	10,993.5
Marine \| Asia Pacific
Disaggregation of Revenue [Line Items]
Revenue, ASC 606	3,512.0	4,181.0	4,235.6
Marine \| EMEA
Disaggregation of Revenue [Line Items]
Revenue, ASC 606	1,973.5	2,213.6	2,475.9
Marine \| LATAM
Disaggregation of Revenue [Line Items]
Revenue, ASC 606	700.6	771.7	806.0
Marine \| North America
Disaggregation of Revenue [Line Items]
Revenue, ASC 606	$ 1,493.9	$ 1,720.9	$ 1,728.7

Business Segments, Geographic Information, and Major Customers - Narrative (Details)	12 Months Ended
	Dec. 31, 2025 segment
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Number of reportable operating business segments	3

Other Contract Balances (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Consideration paid to customers, current	$ 61.0	$ 55.1
Consideration paid to customers, non-current	407.9	371.4
Consideration received from vendors, current	27.3	25.8
Consideration received from vendors, non-current	$ 239.5	$ 207.6

Restructuring and Exit Activities

12 Months Ended

Dec. 31, 2025

Restructuring and Related Activities [Abstract]

Restructuring and Exit Activities

16. Restructuring and Exit Activities

2025 Exit Activities

During the fourth quarter of 2025, management committed to and initiated actions to execute a plan to exit certain operations within the land segment that are no longer profitable or not aligned with the Company's core business and corporate strategy. As a result, the Company has begun the process of exiting direct fuel transportation services, lubricants, heating oil, power, and certain advisory and sustainability offerings, including the Land Fuel Transportation and Lubricants disposal group as discussed in Note 2. Acquisitions and Divestitures. As a result of the actions taken, we recognized charges for exit activities totaling $57.8 million during the year ended December 31, 2025, comprised of severance and compensation costs of $26.2 million, charges associated with various legal matters and contract termination costs of $21.7 million, write-offs of receivables and other assets of $5.1 million, and a loss on the sale of assets of $4.7 million. In addition, we recognized asset impairment charges of $5.8 million related to assets no longer in use or expected to provide nominal future economic benefit.

2025 Restructuring Plan

During the first quarter of 2025, in alignment with ongoing efforts to rationalize our assets and operations, we began a company-wide restructuring initiative designed to further streamline our operating model and enhance organizational efficiency and effectiveness (the "2025 Restructuring Plan"). As part of this initiative, we undertook cost management actions in response to the current and projected business needs, including the closure of certain open positions and the elimination of other roles to better align the workforce with our current strategic priorities. As a component of the 2025 Restructuring Plan, in June 2025, we launched a program intended to optimize our global finance and accounting operations. During the fourth quarter of 2025, we announced an executive transition as a component of the 2025 Restructuring Plan.

As a result of the actions taken under the 2025 Restructuring Plan, we recognized $45.2 million of restructuring charges associated with the 2025 Restructuring Plan during the year ended December 31, 2025, including $32.7 million of severance and other compensation costs and $12.6 million of other transition related costs. We plan to complete the transition activities associated with the global finance and accounting optimization in the fourth quarter of 2026 and expect to recognize an additional $10.8 million in transition costs and one-time charges associated with the planned initiatives during the year ending December 31, 2026.

2024 Exit Activities

During the fourth quarter of 2024, we decided to take actions to exit certain operations, including the rationalization of certain assets and associated personnel within our North American land business as well as the disposal of our subsidiaries in Brazil. As a result of the actions taken in 2024, during the three months ended December 31, 2024, we recognized asset impairment charges of $3.1 million, wrote off accounts receivable totaling $4.4 million, and recognized additional charges for severance and other compensation costs of $1.4 million.

2023 Restructuring Plan

In November 2023, we approved and began implementing a restructuring plan (the "2023 Restructuring Plan") to realign our operational focus with the purpose of simplifying our business, enabling us to focus more clearly on growing our core businesses and our new sustainability-related activities, and improving our cost structure. As part of this plan, during the fourth quarter of 2023, we identified open positions that were eliminated and other positions that were closed to better align the workforce necessary to execute the revised strategy. We recognized restructuring charges of $7.2 million during the year ended December 31, 2023, composed of severance and other compensation costs. We also decided to shift future investments away from underperforming businesses and to continue assessing our global office footprint, resulting in impairment charges of $11.2 million during the fourth quarter of 2023.

During the first half of 2024, we continued to assess potential initiatives, resulting in additional severance and other compensation cost-related restructuring charges. In addition, as part of the 2023 Restructuring Plan, within our marine segment we made the decision during the second quarter of 2024 to cease operations at one of our subsidiaries in Brazil, resulting in the write-off of $3.3 million of VAT credits that were no longer recoverable. We completed these restructuring activities during the second quarter of 2024.

Rollforward of Restructuring and Exit Activity Accruals


	Aviation		Land		Marine		Corporate		Consolidated
Accrued charges as of December 31, 2023	$	1.2	$	3.7	$	—	$	0.9	$	5.7
Restructuring and exit activity charges	0.1		3.2		—		0.5		3.8
Paid during the period	(1.3)		(5.1)		—		(1.1)		(7.5)
Accrued charges as of December 31, 2024	$	—	$	1.7	$	—	$	0.3	$	2.0
Restructuring and exit activity charges	6.9		38.0		1.8		21.5		68.3
Paid during the period	(3.7)		(8.1)		(0.6)		(11.3)		(23.7)
Accrued charges as of December 31, 2025	$	3.3	$	31.6	$	1.2	$	10.5	$	46.6

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Income Statement [Abstract]
Cash flow hedges, income tax expense (benefit)	$ (0.3)	$ (3.5)	$ (2.7)

Commitments and Contingencies - Deferred Compensation, Environmental and Other Liabilities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Defined Contribution Plan Disclosure [Line Items]
Employer match for each 1% of the participants contributions up to 6% of the participants contributions (as a percent)	50.00%
Percentage of eligible compensation up to 6% of the eligible compensation, matched 50% by employer	1.00%
Employer contribution limit per calendar year (as a percent of compensation)	6.00%
Other long-term liabilities
Defined Contribution Plan Disclosure [Line Items]
Deferred compensation payable	$ 18.5	$ 17.9

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 193.5	$ 382.9
Accounts receivable, net of allowance for credit losses of $15.6 million and $22.5 million as of December 31, 2025 and 2024, respectively	2,208.5	2,432.6
Inventories	454.2	513.5
Prepaid expenses	86.6	71.4
Short-term derivative assets, net	100.5	176.5
Other current assets	457.2	382.2
Total current assets	3,500.5	3,959.2
Property and equipment, net	348.4	513.3
Goodwill	737.5	1,181.7
Identifiable intangible assets, net	311.7	261.2
Other non-current assets	965.9	816.4
Total assets	5,863.9	6,731.8
Current liabilities:
Current maturities of long-term debt	11.9	84.0
Accounts payable	2,586.9	2,726.5
Short-term derivative liabilities, net	52.7	91.5
Accrued expenses and other current liabilities	658.9	535.8
Total current liabilities	3,310.4	3,437.8
Long-term debt	685.2	796.8
Other long-term liabilities	560.4	541.2
Total liabilities	4,556.1	4,775.8
Commitments and contingencies
World Kinect 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, 54.1 and 56.7 issued and outstanding as of December 31, 2025 and 2024, respectively	0.5	0.6
Capital in excess of par value	0.0	30.0
Retained earnings	1,315.9	2,009.2
Accumulated other comprehensive income (loss)	(17.3)	(91.0)
Total World Kinect shareholders' equity	1,299.1	1,948.7
Noncontrolling interest	8.8	7.2
Total equity	1,307.9	1,955.9
Total liabilities and equity	$ 5,863.9	$ 6,731.8

Shareholders' Equity

12 Months Ended

Dec. 31, 2025

Equity [Abstract]

Shareholders' Equity

11. Shareholders' Equity

Cash Dividends

During the years ended December 31, 2025, 2024 and 2023, the Company's Board of Directors declared aggregate cash dividends of $0.77, $0.68, and 0.56 per common share, representing $42.4 million, $39.8 million, and $33.8 million in total dividends, respectively. Cash dividends declared, but not yet paid, were $10.7 million, $9.7 million and $8.4 million as of December 31, 2025, 2024 and 2023, respectively.

The payments associated with the above referenced cash dividends were in compliance with restrictions regarding the maximum amount of cash dividends allowed to be paid under our Credit Agreement.

Stock Repurchases

During the second quarter of 2023, we used a portion of the proceeds from the issuance of Convertible Notes to repurchase approximately 2.2 million shares of common stock from purchasers of the Convertible Notes for an aggregate purchase price of approximately $50.0 million. See Note 9. Debt, Interest Income, Expense, and Other Finance Costs for additional information regarding the issuance of Convertible Notes.

Repurchase Programs

In March 2020, our Board of Directors approved a stock repurchase program authorizing $200.0 million in common stock repurchases. In September 2024 and December 2025, our Board of Directors approved stock repurchase programs authorizing additional common stock repurchases of $200.0 million and $150.0 million, respectively. These repurchase authorizations do not require a minimum number of shares of common stock to be purchased, have no expiration date, and repurchases may be initiated, suspended or discontinued at any time. As of December 31, 2025, approximately $302.0 million remained available under our repurchase authorizations. The timing and amount of our repurchases will depend on market conditions, share price, securities law and other legal requirements and factors.

During the years ended December 31, 2025, 2024, and 2023, we repurchased 3.3 million, 3.6 million, and 0.5 million shares of common stock under our repurchase authorizations for an aggregate value of $85.0 million, $100.0 million, and $10.1 million, respectively.

Share-Based Payment Plans

Plan Summary and Description

In June 2025, our shareholders approved the 2025 Omnibus Plan (the "2025 Plan"), which is administered by the Compensation Committee. The purpose of the 2025 Plan is to (i) attract and retain persons eligible to participate in the 2025 Plan; (ii) motivate participants, by means of appropriate incentives, to achieve short- or long-range goals; (iii) provide incentive compensation opportunities that are competitive with those of other similar companies; and (iv) further align participants’ interests with those of our other shareholders through compensation that is based on

our common stock. The persons eligible to receive awards under the 2025 Plan generally include any of our employees, officers, or board members, or any consultant or other person who performs services for us.

The 2025 Plan authorizes the grant of equity-based compensation, including in the form of stock options, stock appreciation rights, stock unit awards, performance-based compensation awards, restricted stock awards, restricted stock units, dividend equivalents and other share-based awards, plus cash incentive awards. The 2025 Plan will remain in effect for as long as any awards granted under it remain outstanding. No awards may be granted under the 2025 Plan after June 5, 2035. The term and vesting period of awards granted under the 2025 Plan are established on a per grant basis, but options and stock appreciation rights may not remain exercisable after the seven-year anniversary of the date of grant.

Subject to adjustment for changes in capitalization, the maximum total number of shares of stock that may be delivered to participants and their beneficiaries under the 2025 Plan is the sum of (i) 1.85 million shares of common stock; (ii) any shares of stock that remained available for future awards under the 2021 Plan on the effective date of the 2025 Plan; and (iii) any shares of stock with respect to awards that were granted under the 2025 Plan or the prior plans (2021, 2020, 2016, and 2006) but are forfeited or canceled (e.g., due to the recipient's failure to satisfy applicable service or performance conditions) after the effective date of the 2025 Plan. As of December 31, 2025, approximately 1.9 million shares of common stock were subject to outstanding awards under the 2025, 2021, and 2006 Plans (assuming maximum achievement of performance goals for restricted stock and target achievement of performance goals for RSUs, where applicable).

The following table summarizes the outstanding awards issued pursuant to the plans described above as of December 31, 2025 and the remaining shares of common stock available for future issuance (in millions):


Plan name	RSUs	Remaining Shares of Common Stock Available for Future Issuance
2025 Plan (1)	0.2	3.3
2021 Plan (2)	1.7	—
2006 Plan (3)	0.1	—

(1)As of December 31, 2025, unvested RSUs will vest between June 2026 and December 2028.

(2)As of December 31, 2025, unvested RSUs will vest between March 2026 and May 2029.

(3)RSUs granted to non‑employee directors under the 2006 Plan prior to 2011 remain outstanding until the date the non‑employee director ceases, for any reason, to be a member of the Board of Directors.

RSU Awards

RSUs may contain one or more service, performance, or market-based vesting conditions. The following table summarizes the status of our RSUs and related transactions for each of the following years (in millions, except for weighted average grant‑date fair value data and weighted average remaining contractual life):


	RSUs	Weighted Average Grant Date Fair Value Price		Aggregate Intrinsic Value		Weighted Average Remaining Contractual Life (in Years)
As of December 31, 2022	3.0	$	26.41	$	81.4	1.6
Granted	1.3	23.48
Vested (1)	(0.8)	25.16
Forfeited	(0.5)	23.24
As of December 31, 2023	3.0	25.99		67.9		1.5
Granted	0.8	25.46
Vested (1)	(0.8)	25.41
Forfeited	(0.4)	27.36
As of December 31, 2024	2.7	25.80		73.1		1.9
Granted	0.8	27.19
Vested (1)	(0.9)	24.36
Forfeited	(0.7)	30.07
As of December 31, 2025	1.9	$	25.45	$	44.4	1.7

(1) The aggregate intrinsic value of RSUs vested during the years ended December 31, 2025, 2024, and 2023 was $23.2 million, $19.4 million, and $18.2 million, respectively.

SSAR Awards

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


	SSAR Awards Outstanding						SSAR Awards Exercisable
	SSAR Awards	Weighted Average Exercise Price		Aggregate Intrinsic Value		Weighted Average Remaining Contractual Life (in Years)	SSAR Awards	Weighted Average Exercise Price		Aggregate Intrinsic Value		Weighted Average Remaining Contractual Life (in Years)
As of December 31, 2022	0.5	$	26.35	$	0.8	0.9	0.4	$	27.43	$	0.3	0.5

Exercised (1)	(0.2)	26.40


As of December 31, 2023	0.3	26.09		—		0.8	0.3	26.09		—		0.8


Expired	(0.1)	29.68

As of December 31, 2024	0.1	23.39		0.6		0.2	0.1	23.39		0.6		0.2

Exercised (1)	(0.1)	23.39


As of December 31, 2025	—	$	—	$	—	0.0	—	$	—	$	—	0.0

(1)The aggregate intrinsic value of SSAR Awards exercised was $0.8 million and $0.8 million for the years ended December 31, 2025 and 2023, respectively.

Unrecognized Compensation Cost

As of December 31, 2025, there was $24.1 million of total unrecognized compensation cost related to unvested share-based payment awards, which is expected to be recognized as compensation expense over a weighted average period of 1.2 years.

Accumulated Other Comprehensive Income (Loss)

Our Accumulated other comprehensive income (loss) consists of foreign currency translation adjustments related to our subsidiaries that have a functional currency other than the U.S. dollar and unrealized gains (losses) from derivative instruments designated as cash flow hedges. The after-tax changes in Accumulated other comprehensive income (loss) by component were as follows (in millions):


	Foreign Currency Translation Adjustments		Cash Flow Hedges		Accumulated Other Comprehensive Loss
Balance as of December 31, 2023	$	(159.6)	$	10.8	$	(148.9)
Other comprehensive income (loss) before reclassifications	(29.6)		3.1		(26.5)
Amounts reclassified from Accumulated other comprehensive income (loss) (1)	97.0		(12.6)		84.4

Balance as of December 31, 2024	(92.2)		1.2		(91.0)
Other comprehensive income (loss) before reclassifications	19.5		(10.8)		8.7
Amounts reclassified from Accumulated other comprehensive income (loss) (1)	55.1		9.9		65.0

Balance as of December 31, 2025	$	(17.6)	$	0.3	$	(17.3)

(1)During the years ended December 31, 2025 and 2024, cumulative foreign currency translation losses were reclassified from Other comprehensive income (loss) into net income. See Note 2. Acquisitions and Divestitures for additional information.

Income Taxes - Impact From the Singapore Tax Concession (Details) - Inland Revenue, Singapore (IRAS) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Increase (Decrease) Foreign Income Taxes Tax Concession [Line Items]
Income Tax Concession, Impact On Foreign Income Tax Expense (Benefit)	$ (1.0)	$ (2.5)	$ (2.1)
Impact on basic earnings per share (in dollars per share)	$ (0.02)	$ (0.04)	$ (0.03)
Impact on diluted earnings per share (in dollars per share)	$ (0.02)	$ (0.04)	$ (0.03)

Goodwill and Identifiable Intangible Assets

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Identifiable Intangible Assets

7. Goodwill and Identifiable Intangible Assets

Goodwill

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


	Aviation Segment		Land Segment		Total
As of December 31, 2023	$	398.3	$	839.7	$	1,238.0
2024 acquisitions (1)	17.5		—		17.5
Adjustment for sale of business (2)	(59.5)		(8.7)		(68.2)
Foreign currency translation of non-USD functional currency subsidiary goodwill	(1.9)		(3.8)		(5.6)
As of December 31, 2024	354.4		827.3		1,181.7
2025 acquisitions (2)	81.3		—		81.3
Goodwill impairment	—		(528.3)		(528.3)
Adjustment for sale of business (2)	—		(18.2)		(18.2)

Other	—		15.0		15.0
Foreign currency translation of non-USD functional currency subsidiary goodwill	0.1		5.9		6.0
As of December 31, 2025	$	435.8	$	301.7	$	737.5

(1)During the year ended December 31, 2024 we completed an acquisition that did not have a material impact on our Consolidated Financial Statements.

(2)See Note 2. Acquisitions and Divestitures for additional information.

Goodwill Impairment

We evaluate goodwill for impairment at the reporting unit level annually as of December 31, or more frequently if events or circumstances indicate that the carrying value may be impaired. During the second quarter of 2025, following our exit from the U.K. land fuels business, as part of the evolution of our strategy we completed our reassessment of the remaining business lines within the land reporting unit. Through this process, we updated key assumptions regarding certain lines of business and made related downward revisions to our long-term forecasts versus prior projections, reflecting both our efforts to optimize the land portfolio to focus on core activities with the highest return potential and the unanticipated persistence of macroeconomic pressures and underperformance against financial expectations. We determined that these circumstances indicated that it was more likely than not that the fair value of goodwill may be less than its carrying value, which required us to perform a quantitative impairment test as of June 30, 2025. As a result of the quantitative impairment test performed, we concluded that the carrying value of the land reporting unit exceeded its estimated fair value. Accordingly, we recognized a goodwill impairment charge of $359.0 million during the three months ended June 30, 2025.

During the fourth quarter of 2025, we identified further impacts to the fair value of the land reporting unit. As we engaged in our annual budgeting and internal forecasting for 2026, we further evaluated our expectations for the land reporting unit taking into consideration (i) the impact of the fourth quarter exit activities on the land reporting unit, including a further-developed understanding of the potential purchasers and pricing for the operations being exited as well as the implied valuation of the land reporting unit post-divestitures and business exits and (ii) weaker-than-expected performance driven by continued challenging market conditions for the land reporting unit in the third and fourth quarters of 2025 that impacted volumes and margin growth rates and our corresponding views with respect to long-term growth. Consequently, we identified a greater risk to our previous forecasts and estimates and the related impact on the fair value of the reporting unit and concluded that the carrying value of the land reporting unit exceeded its estimated fair value. Accordingly, we recognized a goodwill impairment charge of $169.3 million during the three months ended December 31, 2025, inclusive of the impairment of $35.3 million of goodwill allocated to the Land Fuel Transportation and Lubricants disposal group as discussed in Note 2. Acquisitions and Divestitures.

As part of our annual goodwill impairment evaluation, we concluded that the carrying value of the aviation reporting unit did not exceed its estimated fair value. The total goodwill impairment charges of $528.3 million for the year ended December 31, 2025 are presented in the Goodwill and other asset impairments line in the Consolidated Statements of Income and Comprehensive Income and represent a partial impairment of goodwill in our land reporting unit.

The determination of fair value requires us to make significant estimates and assumptions related to the business and financial performance of each reporting unit. If our actual results differ significantly from the assumptions used to determine the fair value of each reporting unit, including our continued efforts to optimize the land portfolio, such impact could potentially result in additional goodwill impairment charges in future periods.

Identifiable Intangible Assets

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


	As of December 31, 2025						As of December 31, 2024
	Gross Carrying Amount		Accumulated Amortization (1)		Net		Gross Carrying Amount		Accumulated Amortization (1)		Net
Intangible assets subject to amortization:
Customer relationships	$	555.1	$	344.9	$	210.2	$	504.1	$	339.8	$	164.3
Supplier agreements	69.0		39.8		29.2		69.0		35.4		33.6
Others	54.0		25.9		28.1		43.5		25.1		18.4
Total intangible assets subject to amortization	678.0		410.6		267.4		616.6		400.3		216.3
Intangible assets not subject to amortization:
Trademark / trade name rights	44.2		—		44.2		44.9		—		44.9
Total intangible assets	$	722.3	$	410.6	$	311.7	$	661.5	$	400.3	$	261.2

(1)Includes the impact of foreign exchange.

Intangible amortization expense for 2025, 2024 and 2023 was $34.6 million, $34.1 million and $36.2 million, respectively. See Note 2. Acquisitions and Divestitures and Note 5. Fair Value Measurements for additional information about asset impairment charges.

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


Year Ended December 31,
2026	$	32.7
2027	29.6
2028	27.6
2029	27.3
2030	27.1
Thereafter	123.1
Total	$	267.4

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2025
Audit Information [Abstract]
Auditor Firm ID	238
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	Miami, Florida

Shareholders' Equity - Cash Dividends (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Equity [Abstract]
Cash dividends declared (in dollars per share)	$ 0.77	$ 0.68	$ 0.56
Cash dividends declared	$ 42.4	$ 39.8	$ 33.8
Dividends Payable	$ 10.7	$ 9.7	$ 8.4

Accounts Receivable - Allowance for Credit Losses for Accounts Receivable (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Allowance for Credit Loss
Beginning balance	$ 23.7	$ 20.8	$ 17.3
Charges to allowance for credit losses	3.9	12.0	4.7
Write-off of uncollectible receivables	(11.2)	(10.6)	(1.5)
Recoveries of credit losses	0.4	2.0	0.3
Translation adjustments	0.2	0.5	0.1
Ending balance	$ 16.6	$ 23.7	$ 20.8

Fair Value Measurements - Commodity and Foreign Currency Contracts (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Offsetting Assets [Line Items]
Gross Amounts Recognized	$ 291.3	$ 499.6
Gross Amounts Offset	157.8	273.9
Net Amounts Presented	133.5	225.8
Cash Collateral	8.2	0.1
Gross Amounts Without Right of Offset	0.0	0.0
Net Amounts	125.3	225.6
Liabilities:
Gross Amounts Recognized	228.4	401.6
Gross Amounts Offset	157.8	273.9
Net Amounts Presented	70.6	127.8
Cash Collateral	6.0	12.1
Gross Amounts Without Right of Offset	0.0	0.0
Net Amounts	64.6	115.6
Commodity contracts:
Offsetting Assets [Line Items]
Gross Amounts Recognized	283.7	467.6
Gross Amounts Offset	151.3	253.2
Net Amounts Presented	132.4	214.4
Cash Collateral	8.2	0.1
Gross Amounts Without Right of Offset	0.0	0.0
Net Amounts	124.2	214.3
Liabilities:
Gross Amounts Recognized	218.6	378.7
Gross Amounts Offset	151.3	253.2
Net Amounts Presented	67.4	125.5
Cash Collateral	6.0	12.1
Gross Amounts Without Right of Offset	0.0	0.0
Net Amounts	61.3	113.4
Interest rate contract:
Offsetting Assets [Line Items]
Gross Amounts Recognized		2.9
Gross Amounts Offset		0.0
Net Amounts Presented		2.9
Cash Collateral		0.0
Gross Amounts Without Right of Offset		0.0
Net Amounts		2.9
Foreign currency exchange contracts:
Offsetting Assets [Line Items]
Gross Amounts Recognized	7.6	29.1
Gross Amounts Offset	6.5	20.7
Net Amounts Presented	1.1	8.5
Cash Collateral	0.0	0.0
Gross Amounts Without Right of Offset	0.0	0.0
Net Amounts	1.1	8.5
Liabilities:
Gross Amounts Recognized	9.8	22.9
Gross Amounts Offset	6.5	20.7
Net Amounts Presented	3.3	2.3
Cash Collateral	0.0	0.0
Gross Amounts Without Right of Offset	0.0	0.0
Net Amounts	$ 3.3	$ 2.3

Shareholders' Equity - Other Comprehensive Loss and Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 1,955.9	$ 1,949.6
Other comprehensive income (loss) before reclassifications	8.7	(26.5)
Amounts reclassified from Accumulated other comprehensive income (loss) (1)	65.0	84.4
Ending balance	1,307.9	1,955.9
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(91.0)	(148.9)
Ending balance	(17.3)	(91.0)
Foreign Currency Translation Adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(92.2)	(159.6)
Other comprehensive income (loss) before reclassifications	19.5	(29.6)
Amounts reclassified from Accumulated other comprehensive income (loss) (1)	55.1	97.0
Ending balance	(17.6)	(92.2)
Cash Flow Hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	1.2	10.8
Other comprehensive income (loss) before reclassifications	(10.8)	3.1
Amounts reclassified from Accumulated other comprehensive income (loss) (1)	9.9	(12.6)
Ending balance	$ 0.3	$ 1.2

- Definition

Amount after tax, before reclassification adjustments of other comprehensive income (loss).

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- Definition

Amount after tax of reclassification adjustments of other comprehensive income (loss).

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Amount of equity (deficit) attributable to parent and noncontrolling interest. Excludes temporary equity.

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+ Details

Acquisitions and Divestitures - Narrative (Details) - Trip Support Services - USD ($) $ in Millions		2 Months Ended
	Nov. 05, 2025	Dec. 31, 2025
Business Combination [Line Items]
Total fair value of consideration	$ 207.0
Revenue since acquisition		$ 27.8
Income before tax since acquisition		$ (0.5)
Business Combination, Consideration Transferred, Liabilities Incurred	52.6
Cash paid at closing	154.4
Business Combination, Consideration Transferred, Liabilities Incurred, Undiscounted	$ 60.0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Derivative Instruments

12 Months Ended

Dec. 31, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments

4. Derivative Instruments

We are exposed to a variety of risks, including, but not limited to, changes in the prices of commodities that we buy or sell, changes in foreign currency exchange rates, changes in interest rates, and the creditworthiness of each of our counterparties. While we attempt to mitigate these fluctuations through hedging, such hedges may not be fully effective.

Our risk management program includes the following types of derivative instruments:

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

Cash Flow Hedges. Derivative contracts we execute to mitigate the risk of price and interest rate volatility in forecasted transactions.

Non-designated Derivatives. Derivatives we primarily transact to mitigate the risk of market price fluctuations in swaps or futures contracts, as well as certain forward fixed price purchase and sale contracts to hedge the risk of currency rate fluctuations and for portfolio optimization.

The following table summarizes the gross notional values of our derivative contracts used for risk management purposes (in millions):

Unit

December 31, 2025

Commodity contracts:

Long

BBL

63.9

Short

BBL

(68.2)

Foreign currency exchange contracts:

Sell U.S. dollar, buy other currencies

USD

(434.8)

Buy U.S. dollar, sell other currencies

USD

684.6

The majority of our foreign currency exchange contracts and the volume related to our commodities contracts are expected to settle within the next year.

Assets and Liabilities

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 December 31,				As of December 31,
Derivative Instruments	Consolidated Balance Sheets location	2025		2024		2025		2024
Derivatives designated as hedging instruments
Commodity contracts	Short-term derivative assets, net	$	—	$	4.0	$	—	$	3.5
	Other non-current assets	0.2		—		—		—
	Short-term derivative liabilities, net	18.6		13.9		14.1		18.9


Interest rate contract	Short-term derivative assets, net	—		2.9		—		—



Total derivatives designated as hedging instruments		18.9		20.8		14.2		22.4

Derivatives not designated as hedging instruments
Commodity contracts	Short-term derivative assets, net	120.6		230.8		15.6		65.7
	Other non-current assets	58.0		69.4		30.8		20.5
	Short-term derivative liabilities, net	74.5		86.7		133.1		174.4
	Other long-term liabilities	11.6		62.8		24.9		95.6

Foreign currency contracts	Short-term derivative assets, net	2.6		23.3		1.5		15.1
	Other non-current assets	—		0.7		—		0.3
	Short-term derivative liabilities, net	4.9		5.1		8.1		6.9
	Other long-term liabilities	—		0.1		0.1		0.6
Total derivatives not designated as hedging instruments		272.4		478.9		214.3		379.2
Total derivatives		$	291.3	$	499.6	$	228.4	$	401.6

For information regarding our derivative instruments measured at fair value after netting and collateral, see Note 5. Fair Value Measurements.

The following amounts were recorded within our 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 December 31,				As of December 31,
	2025		2024		2025		2024
Inventory	$	73.3	$	95.2	$	(1.0)	$	3.8

Earnings and Other Comprehensive Income (Loss)

Derivatives Designated as Hedging Instruments


	For the Year Ended December 31,
	2025						2024						2023
	Revenue		Cost of revenue		Interest expense and other financing costs, net		Revenue		Cost of revenue		Interest expense and other financing costs, net		Revenue		Cost of revenue		Interest expense and other financing costs, net
Total amounts of income and expense line items in which the effects of fair value or cash flow hedged are recorded	$	36,916.6	$	35,968.8	$	100.6	$	42,168.0	$	41,141.6	$	102.2	$	47,710.6	$	46,652.4	$	127.7
Gains (losses) on fair value hedge relationships:
Commodity contracts:
Hedged item	—		(5.4)		—		—		5.4		—		—		0.8		—
Derivatives designated as hedging instruments	—		5.1		—		—		(4.1)		—		—		3.4		—
Gains (losses) on cash flow hedge relationships:
Commodity contracts:
Amount of gains (losses) reclassified from Accumulated other comprehensive income (loss) into Net income (loss)	(12.4)		(4.1)		—		(3.4)		6.1		—		0.2		—		—
Interest rate contract:
Amount of gains (losses) reclassified from Accumulated other comprehensive income (loss) into Net income (loss)	—		—		2.9		—		—		14.5		—		—		14.0

Total amount of income and expense line items excluding the impact of hedges	$	36,929.0	$	35,964.4	$	103.6	$	42,171.4	$	41,148.9	$	116.7	$	47,710.4	$	46,656.7	$	141.7


Gain (Loss) Not Recorded in Accumulated other comprehensive income (loss) Due to Intra-Period Settlement		Year Ended December 31,
	Location	2025		2024		2023
Commodity contracts	Revenue	$	11.1	$	5.6	$	(1.5)
Commodity contracts	Cost of revenue	$	5.6	$	(15.4)	$	(0.3)

For the years ended December 31, 2025, 2024 and 2023, 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.

As of December 31, 2025, on a pre-tax basis, $0.1 million is scheduled to be reclassified from Accumulated other comprehensive loss over the next twelve months as an increase to Cost of revenue related to designated commodity cash flow hedges that will mature within the next twelve months.


Amount of Gain (Loss) Recognized in Accumulated other comprehensive income (loss), Net of Income Tax (Expense) Benefit	Year Ended December 31,
	2025		2024		2023
Commodity contracts (Revenue)	$	(7.2)	$	(4.3)	$	—
Commodity contracts (Cost of revenue)	(3.6)		5.6		(0.7)
Interest rate contracts (Interest expense and other financing costs, net)	—		1.9		3.0
Total gain (loss)	$	(10.8)	$	3.1	$	2.4


Amount of Gain (Loss) Reclassified from Accumulated other comprehensive income (loss) into Net income (loss), Net of Income Tax (Expense) Benefit		Year Ended December 31,
	Location	2025		2024		2023
Commodity contracts	Revenue	$	(9.1)	$	(2.5)	$	0.2
Commodity contracts	Cost of revenue	(3.0)		4.4		—
Interest rate contracts	Interest expense and other financing costs, net	2.1		10.7		10.3
Total gain (loss)		$	(9.9)	$	12.6	$	10.5

Derivatives Not Designated as Hedging Instruments


Derivative Instruments - Non-designated	Location	Year Ended December 31,
		2025		2024		2023
Commodity contracts	Revenue	$	(14.5)	$	(126.2)	$	(190.5)
	Cost of revenue	(9.5)		21.4		(41.4)
		(24.0)		(104.8)		(231.9)
Foreign currency contracts	Revenue	(1.2)		(0.5)		(8.0)
	Other income (expense), net	(14.1)		(2.4)		2.3
		(15.3)		(2.9)		(5.6)
Total gains (losses)		$	(39.3)	$	(107.7)	$	(237.5)

Credit-Risk-Related Contingent Features

We enter into derivative contracts which may require us to post collateral periodically. Certain of these derivative contracts contain credit-risk-related contingent clauses which are triggered by credit events, such as a credit downgrade or if certain defined financial ratios fall below an established threshold. The occurrence of these credit events may require us to post additional collateral or immediately settle the derivative instrument.

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


	As of December 31,
	2025		2024
Net derivative liability positions with credit contingent features	$	20.2	$	40.9
Collateral posted and held by our counterparties	(3.7)		—
Maximum additional potential collateral requirements	$	16.5	$	40.9

- Definition

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

+ References

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+ Details

Basis of Presentation, New Accounting Standards, and Significant Accounting Policies	12 Months Ended
	Dec. 31, 2025
Accounting Policies [Abstract]
Basis of Presentation, New Accounting Standards, and Significant Accounting Policies	1. Basis of Presentation, New Accounting Standards, and Significant Accounting Policies General World Kinect Corporation (the "Company") was incorporated in Florida in July 1984 and along with its consolidated subsidiaries is referred to collectively in this Annual Report on Form 10‑K ("2025 10‑K Report") as "World Kinect," "we," "our" and "us." We are a global energy management company offering fulfillment and related services to customers across the aviation, marine, and land transportation sectors. We also supply natural gas along with a complementary suite of sustainability-related products and services. A. Basis of Presentation The Consolidated Financial Statements and related Notes include our parent company and subsidiaries where we exercise control and include the operations of acquired businesses after the completion of their acquisition. The decision of whether or not to consolidate an entity requires consideration of majority voting interests, as well as effective economic or other control over the entity. The Consolidated Financial Statements are prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). Our fiscal year-end is as of and for the year ended December 31 for each year presented. All intercompany transactions among our consolidated subsidiaries have been eliminated. Certain amounts in the Consolidated Financial Statements and accompanying Notes may not add due to rounding. All percentages have been calculated using unrounded amounts. B. New Accounting Standards Adoption of New Accounting Standards Income Taxes. ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, was issued in December 2023. ASU 2023-09 amends the guidance in ASC 740, Income Taxes, to improve the transparency of income tax disclosures by revising the required rate reconciliation disclosures and requiring disclosure of income taxes paid disaggregated by jurisdiction. As amended, the rate reconciliation disclosure must be presented in both percentages and reporting currency amounts, with consistent categories and greater disaggregation of information. The ASU also includes changes intended to improve the effectiveness of income tax disclosures and eliminate certain existing disclosure requirements related to uncertain tax positions and unrecognized deferred tax liabilities. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, and should be applied prospectively. The Company adopted ASU 2023-09 in the fourth quarter of 2025 and has included the relevant disclosures in Note 14. Income Taxes. Accounting Standards Issued But Not Yet Adopted Expense Disaggregation. ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, was issued in November 2024. ASU 2024-03 does not change the expense captions an entity presents on the face of the income statement; however, it requires disaggregation of certain expense captions into specified categories in disclosures within the footnotes to the financial statements for each interim and annual period. The amendments require disclosure of the amounts of (a) purchases of inventory, (b) employee compensation, (c) depreciation, (d) intangible asset amortization, and (e) depreciation, depletion, and amortization recognized as part of oil- and gas-producing activities included in each relevant expense caption. The amendments also require disclosure of certain amounts that are already required to be disclosed under current guidance in the same disclosure as the other disaggregation requirements, a qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively, and the total amount of selling expenses as well as, in annual reporting periods, the entity's definition of selling expenses. ASU 2024-03 is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted. The amendments should be applied prospectively to financial statements issued for reporting periods after the effective date of the update or retrospectively to any or all prior periods presented in the financial statements. The Company is currently evaluating the amendments to identify potential impacts to the Company's Notes to the Consolidated Financial Statements and processes. Internal-Use Software. ASU 2025-06, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software, was issued in September 2025. ASU 2025-06 modernizes the accounting for internal-use software costs by eliminating the prescriptive "project stage" model and introducing a principles-based framework that is intended to better reflect current software development practices and consolidate guidance on website development costs into the broader framework for internal-use software. The amendments are effective for annual reporting periods beginning after December 15, 2027, and interim reporting periods within those annual reporting periods. Early adoption is permitted. The Company is currently evaluating the amendments to identify potential impacts to the Company’s Consolidated Financial Statements and processes. There are no other recently issued accounting standards not yet adopted by us that, upon adoption, are expected to have a material impact on the Company's Consolidated Financial Statements or processes. C. Estimates and Assumptions The preparation of Consolidated Financial Statements in conformity with U.S. GAAP requires us to make certain estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Accordingly, actual results could materially differ from estimated amounts. We evaluate our estimated assumptions based on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. D. Cash and Cash Equivalents Our cash equivalents consist principally of overnight investments, bank money market accounts and bank time deposits which have an original maturity date of less than 90 days. These securities are carried at cost, which approximates market value. E. Accounts Receivable and Allowance for Credit Losses Accounts receivable are measured at amortized cost. The collectability of our accounts receivable is continuously monitored using a risk-based model, taking into consideration both the timeliness and predictability of collections from our customers. We maintain a provision for estimated credit losses based upon our historical experience with our customers, along with any specific customer collection issues that we have identified from current financial information and business prospects, as well as any political or economic conditions or other market factors, including certain assumptions based on reasonable forward-looking information from market sources. Principally based on these credit risk factors, portfolio segments are defined and an internally derived risk-based credit loss reserve is established and applied to each portfolio segment. Customer account balances that are deemed to be at high risk of collectability are reserved at higher rates than customer account balances which we expect to collect without difficulty. Individual receivables are written off when there is information indicating that the counterparty is in severe financial difficulty and the amounts are deemed uncollectible. An accounts receivable written off may still be subject to enforcement activities under our recovery procedures, taking into account legal advice where appropriate. Any subsequent recoveries made are recognized as income in the Consolidated Statements of Income and Comprehensive Income. For additional information, see Note 3. Accounts Receivable. F. Inventories Inventories are valued primarily using weighted average cost and first-in-first-out in certain limited locations. Inventory is stated at the lower of average cost or net realizable value. When evidence exists that the net realizable value of inventory is lower than its cost, the difference is recognized as a loss in the Consolidated Statements of Income and Comprehensive Income in the period in which it occurs. We utilize a variety of fuel indices and other indicators to calculate the net realizable value. The cost of inventory includes fuel purchase costs, any related transportation or distribution costs and changes in the estimated fair market values for inventories included in a fair value hedge relationship. G. Business Combinations A business combination occurs when an entity obtains control of a business by acquiring its net assets, or some or all of its equity interests. Before applying the acquisition method, we determine whether a transaction meets the definition of a business combination. For a transaction to be accounted for as a business combination, the entity or net assets acquired must meet the definition of a business as defined in ASC 805. Under the acquisition method, the purchase price is allocated to all identifiable assets acquired, all liabilities assumed, and any noncontrolling interest at the fair value as of the acquisition date. Any residual difference with the consideration transferred is recognized as Goodwill. Goodwill arises because the purchase price paid reflects numerous factors, including the strategic value and expected synergies that the acquisition would bring to our existing operations. Acquisition-related costs incurred in connection with a business combination are expensed as incurred. If the assets acquired do not meet the definition of a business, we account for the transaction as an asset acquisition in which goodwill is not recognized, but rather any residual difference with the consideration transferred is allocated on a relative fair value basis to all qualifying identifiable net assets acquired. For additional information, see Note 2. Acquisitions and Divestitures. H. Fair Value Fair value is the price to sell an asset or transfer a liability and therefore represents an exit price in the principal market (or in the absence of a principal market, the most advantageous market). It represents a market-based measurement that contemplates a hypothetical transaction between market participants at the measurement date. We calculate fair value using various methodologies, depending on the type of assets, including the income approach (e.g., based on the present value of estimated future cash flows), the market approach, the cost approach, or a combination thereof. The unique characteristics of an asset or liability and the availability of observable prices affect the number of valuation approaches and/or techniques used in a fair value analysis. We measure fair value using observable and unobservable inputs. We give the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1 inputs) and the lowest priority to unobservable inputs (Level 3 inputs). We apply the following fair value hierarchy: •Level 1 – Quoted prices (unadjusted) in active markets for identical assets and liabilities. •Level 2 – Quoted prices in non-active markets or in active markets for similar assets or liabilities, observable inputs other than quoted prices; and inputs that are not directly observable but are corroborated by observable market data. •Level 3 – Inputs that are unobservable. For additional information, see Note 5. Fair Value Measurements. I. Derivatives Our derivative contracts, except for those designated as normal purchase normal sale, are recognized at their estimated fair market value. The fair value of our derivatives is derived using observable and certain unobservable inputs, such as basis differentials, which are based on the difference between the historical prices of our prior transactions and underlying observable data; and incorporates the effect of nonperformance risk. If the derivative instrument is not designated as a hedge, changes in the estimated fair market value are recognized as a component of Revenue, Cost of revenue or Other income (expense), net (based on the underlying transaction type) in the Consolidated Statements of Income and Comprehensive Income. Derivatives that qualify for hedge accounting may be designated as either a fair value or cash flow hedge. At the inception, and on an ongoing basis, we assess the hedging relationship to determine its effectiveness in offsetting changes in cash flows or fair value attributable to the hedged risk. 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. For our cash flow hedges, the changes in the fair market value of the hedging instrument are initially recognized in other comprehensive income as a separate component of shareholders’ equity and subsequently reclassified into the same line item as the underlying forecasted transaction in the Consolidated Statements of Income and Comprehensive Income when both are settled or deemed probable of not occurring. Cash flows of derivatives that do not contain an other-than-insignificant financing element and are designated in cash flow or fair value hedges are classified in the same category as the cash flow from the hedged items in our Consolidated Statements of Cash Flows. 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. Cash flows related to all other non-hedging derivatives are classified in accordance with the nature of the derivative instrument and how it is used in the context of the entity’s business. For additional information, see Note 4. Derivative Instruments. J. Property and Equipment Property and equipment are carried at cost less accumulated depreciation and amortization. Depreciation and amortization are calculated primarily by using the straight-line method over the estimated useful lives of the assets. Costs of major additions and improvements are capitalized while expenditures for maintenance and repairs, which do not extend the life of the asset, are expensed. Upon sale or disposition of property and equipment, the cost and related accumulated depreciation and amortization are eliminated from the accounts and any resulting gain or loss is credited or charged to income. Long-lived assets held and used by us (including property and equipment) are assessed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. When such assets are expected to be sold, we first evaluate whether they meet the criteria to be classified as held for sale. Long-lived assets classified as held for sale are measured at the lower of their carrying amount or fair value less cost to sell, and an impairment charge is recognized for any excess of carrying amount over fair value less cost to sell. Purchases of computer software and external costs and certain internal costs directly associated with developing significant computer software applications for internal use are capitalized within property and equipment, which also includes hosting arrangements when we have the contractual right to take possession of the software at any time during the hosting period and it is feasible for us to either run the software in our own hardware or contract with another unrelated party to host the software. Amortization of such costs is calculated primarily by using the straight-line method over the estimated useful life of the software. For additional information, see Note 6. Property and Equipment. K. Goodwill Goodwill is evaluated for impairment at the reporting unit level annually as of December 31, or more frequently if events or circumstances indicate that the carrying value of goodwill may be impaired. We have the option to perform a qualitative assessment of goodwill rather than completing the quantitative impairment test. Under this qualitative assessment, if we conclude it is not more likely than not that the fair value of the reporting unit is less than its carrying amount, no further analysis is needed. To perform the quantitative impairment test, we compare the fair value of each reporting unit to its respective carrying amount, including goodwill. In calculating the fair value, we use a combination of both an income and market approach. Under the market approach, we use a selection of global companies that correspond to each reporting unit to derive a market-based multiple. Under the income approach, we calculate the fair value of each reporting unit based on the present value of estimated future cash flows. The estimated future cash flows are based on the best information available as of the testing date, including our annual operating plan and current forecasts, terminal growth rates, working capital requirements and capital expenditures. The estimated cash flows are discounted using rates that correspond to a weighted-average cost of capital consistent with those used internally for investment decisions. All our estimates are considered supportable assumptions that are based on a number of factors including industry experience, internal benchmarks and the economic environment. We believe these assumptions are reasonable and are consistent with those we believe a market participant would use. For additional information, see Note 7. Goodwill and Identifiable Intangible Assets. L. Identifiable Intangible Assets In connection with our acquisitions, we recognize identifiable intangible assets at fair value. After the initial recognition of the asset, the accounting treatment depends on the period over which the asset is expected to contribute directly or indirectly to the future cash flows of the company. Identifiable intangible assets with finite useful lives are amortized over their estimated useful lives and are assessed for impairment at the asset group level whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Intangible assets with indefinite useful life are not subject to amortization but are tested for impairment at least annually during the fourth quarter. This analysis generally involves the use of qualitative and quantitative information to conclude whether the fair value is greater than or equal to the carrying value. For additional information, see Note 7. Goodwill and Identifiable Intangible Assets. M. Investments We hold investments accounted for under the equity method as we have the ability to exercise significant influence over the operating and financial policies of the investee, but do not have control. The carrying amount of an equity method investment is increased to reflect our share of income and is reduced to reflect our share of losses of the investee, dividends received and other-than-temporary impairments. Investments accounted for under the equity method are assessed for impairment whenever events or changes in circumstances indicate that the carrying amount of an investment may not be recoverable. We assess our intent and/or ability to recover the carrying amount of the investment over a long period. However, if the fair value of the investment is less than its carrying amount, and the investment will not recover in the near term, then an other-than-temporary impairment is recognized. Impairments of investments are classified as Goodwill and asset impairments within the Consolidated Statements of Income and Comprehensive Income. N. Revenue Recognition The majority of our consolidated revenues are generated through the sale of fuel and fuel-related products. We generally recognize fuel sales and services revenue on a gross basis as we have control of the products or services before they are delivered to our customers. In drawing this conclusion, we considered various factors, including inventory risk management, latitude in establishing the sales price, discretion in the supplier selection and that we are normally the primary obligor in our sales arrangements. 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. Revenue from services, including energy procurement advisory services and international trip support services, are recognized over the contract period when services have been performed and we have the right to invoice for those services. Under long term contracts with customers, we may provide upfront payments that are not in exchange for a distinct good or service to be provided to us. The consideration paid to the customer is accounted for as a reduction of the transaction price, and therefore revenue, at the date the related goods are transferred to the customer. Consideration received from our vendors that is not in exchange for a distinct good or service and is not a reimbursement of costs is accounted for as a reduction of the purchase price of the goods or services. Shipping and handling related fees incurred before control of the goods or services are transferred to the customer, are considered activities to fulfill the promise and not a separately promised service. When we coordinate shipping and handling activities after our customer obtains control of goods or services, we have elected to account for these shipping and handling costs as activities to fulfill the promise to transfer the goods. We have elected not to adjust the contract consideration for the effect of a significant financing component for any contract in which the period between when the Company transfers the promises in the contract and when the customer pays is a year or less. In addition, we have elected to exclude from the transaction price the amount of certain taxes assessed by a government authority that we collect (or recover) from our customer and remit in connection with our sales transactions, such as certain sales or excise taxes. We have elected to apply the optional exemption from estimating and disclosing the variable consideration from our remaining performance obligations when the transaction price is only estimated for disclosures purpose, including contracts in which the right to consideration corresponds directly with the value to the customer of the entity's performance to date. Also, we have elected to apply the exemption for contracts with fixed consideration and original expected duration of less than one year. For additional information, see Note 13. Revenue from Contracts with Customers. O. Share-Based Payment Awards We account for share-based payment awards on a fair value basis of the equity instrument issued. Under fair value accounting, the grant-date fair value of the share-based payment award is amortized as compensation expense, on a straight-line basis, over the service period (generally, the vesting period) for both graded and cliff vesting awards. We have elected to account for forfeitures as they occur. For additional information, see Note 11. Shareholders' Equity. P. Foreign Currency Generally, the functional currency of our subsidiaries is the U.S. dollar, except for certain foreign subsidiaries which utilize their respective local currency as their functional currency. Monetary assets and liabilities denominated in a currency that is different from the functional currency are remeasured from the applicable currency to the functional currency using month-end exchange rates. Foreign currency transaction gains and losses are included in Other income (expense), net, in the accompanying Consolidated Statements of Income and Comprehensive Income in the period incurred. Revenues and expenses of the subsidiaries that have a functional currency other than the U.S. dollar have been translated into U.S. dollars at average exchange rates prevailing during the period. The assets and liabilities of these subsidiaries have been translated at the rates of exchange on the balance sheet dates. The resulting translation gain and loss adjustments are recorded in Accumulated Other Comprehensive Income as a separate component of Shareholders’ Equity. Q. Income Taxes Income taxes are accounted for under the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, and operating loss and income tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted income tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in income tax rates is recorded as a component of the income tax provision in the period that includes the enactment date. Regular assessments are made on the likelihood that our deferred tax assets will be recovered from our future taxable income. Our evaluation is based on estimates, assumptions, and includes an analysis of available positive and negative evidence, giving weight based on the evidence’s relative objectivity. Sources of positive evidence include estimates of future taxable income, future reversal of existing taxable temporary differences, taxable income in carryback years, and available tax planning strategies. Sources of negative evidence include current and cumulative losses in recent years, losses expected in early future years, any history of operating losses or tax credit carryforwards expiring unused, and unsettled circumstances that, if unfavorably resolved, would adversely affect future profit levels. The remaining carrying value of our deferred tax assets, after recording the valuation allowance on our deferred tax assets, is based on our present belief that it is more likely than not that we will be able to generate sufficient future taxable income in certain tax jurisdictions to utilize such deferred tax assets. The amount of the remaining deferred tax assets considered recoverable could be adjusted if our estimates of future taxable income during the carryforward period change favorably or unfavorably. To the extent we believe that it is more likely than not that some or all of the remaining deferred tax assets will not be realized, we must establish a valuation allowance against those deferred tax assets, resulting in additional income tax expense in the period such determination is made. To the extent a valuation allowance currently exists, we will continue to monitor all positive and negative evidence until we believe it is more likely than not that it is no longer necessary, resulting in an income tax benefit in the period such determination is made. Significant judgment is required in evaluating our tax positions, and in determining our provisions for income taxes, our deferred tax assets and liabilities and any valuation allowance recorded against our net deferred tax assets. We establish reserves when, despite our belief that the income tax return positions are fully supportable, certain positions are likely to be challenged and we may ultimately not prevail in defending those positions. For additional information, see Note 14. Income Taxes. R. Earnings per Common Share Basic earnings per common share is computed by dividing net income attributable to World Kinect and available to common shareholders by the weighted average number of shares of common stock outstanding for the period. Diluted earnings per common share is computed by dividing net income attributable to World Kinect and available to common shareholders by the sum of the weighted average number of shares of common stock outstanding for the period and the number of additional shares of common stock that would have been outstanding if our outstanding potentially dilutive securities had been issued. Potentially dilutive securities include share-based compensation awards, such as restricted stock subject to forfeitable dividends, non-vested restricted stock units ("RSUs"), performance stock units where the performance requirements have been met, and settled stock appreciation rights awards ("SSARs"), as well as the Convertible Notes discussed in Note 9. Debt, Interest Income, Expense, and Other Finance Costs. The dilutive effect of potentially dilutive share-based compensation awards is reflected in diluted earnings per common share by application of the treasury stock method, unless its impact is anti-dilutive. Under the treasury stock method, an increase in the fair market value of our common stock can result in a greater dilutive effect from potentially dilutive securities. The dilutive effect of the Convertible Notes is determined by application of the if-converted method. The if-converted method assumes that these securities were converted at the beginning of the reporting period to the extent that the effect is dilutive. The Convertible Notes would have a dilutive impact when the average market price of the Company's common stock for a given period exceeds the respective conversion price of the Convertible Notes. For additional information, see Note 17. Earnings per Common Share. S. Leases We determine if an arrangement is a lease at contract inception. Determining whether a contract contains a lease includes judgment regarding whether the contract conveys the right to control the use of identified property or equipment for a period of time in exchange for consideration. As a lessee, 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 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. 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. We assess right-of-use assets for impairment at the asset group level whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Impairments are classified as Goodwill and other asset impairments within the Consolidated Statements of Income and Comprehensive Income. For additional information, see Note 12. Leases. T. Loss Contingencies In determining whether an accrual for a loss contingency is required, we first assess the likelihood of occurrence of the future event or events that will confirm the loss. When a loss is probable (the future event or events are likely to occur) and the amount of the loss can be reasonably estimated, the estimated loss is accrued. If the reasonable estimate of the loss is a range and an amount within the range appears to be a better estimate than any other amount within the range, that amount is accrued. However, if no amount within the range is a better estimate, the minimum amount in the range should be accrued. When a loss is reasonably possible (the chance of the future event or events occurring is more than remote but less than likely), no accrual is recognized. For additional information, see Note 14. Income Taxes and Note 10. Commitments and Contingencies.

Shareholders' Equity - Unrecognized Compensation Cost (Details) $ in Millions	12 Months Ended
	Dec. 31, 2025 USD ($)
Equity [Abstract]
Total unrecognized compensation cost related to unvested share-based payment awards	$ 24.1
Period for recognition of unrecognized compensation cost related to unvested share-based payment awards	1 year 2 months 12 days

Revenue from Contracts with Customers

12 Months Ended

Dec. 31, 2025

Revenue from Contract with Customer [Abstract]

Revenue from Contracts with Customers

13. Revenue from Contracts with Customers

The majority of our consolidated revenues are generated through the sale of fuel and fuel-related products. Our contracts with customers, which are primarily master sales agreements in combination with different types of nominations or standalone agreements, generally require us to deliver fuel and fuel-related products, while other arrangements require us to complete agreed-upon services. As our contracts go through a formal credit approval process, we only enter into contracts when we determine the amount we expect to be entitled to is probable of collection. Our billing and payment terms generally include monthly invoicing with average payment terms of one to three months.

We have concluded that each gallon or barrel represents a separate performance obligation, and revenue is recognized at the point in time when control of each gallon or barrel transfers to our customer. We may incur costs for the transportation of products to the delivery points. Reimbursements of such costs are normally included in the transaction price.

Our contracts may contain fixed pricing, variable pricing, or a combination. The pricing structures of our fuel sales that involve variable prices, such as market or index-based pricing or reimbursements of costs, typically correspond to our efforts to transfer the promised fuel, and we recognize revenue based on those variable prices for the related gallons or barrels that we have delivered.

Our 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 also have fixed price fuel and fuel-related product sale contracts with a contract term of less than one year (typically one month).

We also earn an immaterial amount of revenue from contracts to provide services, including energy procurement advisory services, international trip support services, and transaction and payment management processing, which typically represent a single performance obligation for the series of daily services.

Disaggregated Revenue

The following table presents our revenues from contracts with customers disaggregated by major geographic areas, based on the country of incorporation of the relevant subsidiary (in millions):


	For the Year Ended December 31,
	2025		2024		2023
Aviation	$	1,021.7	$	1,106.8	$	1,151.9
Land	68.4		113.5		153.9
Marine	3,512.0		4,181.0		4,235.6
Asia Pacific	4,602.0		5,401.3		5,541.5

Aviation	4,375.1		4,641.7		4,320.6
Land	1,560.2		2,798.2		3,224.8
Marine	1,973.5		2,213.6		2,475.9
EMEA	7,908.7		9,653.5		10,021.2

Aviation	3,720.1		3,785.7		4,167.4
Land	0.1		918.1		1,010.4
Marine	700.6		771.7		806.0
LATAM	4,420.8		5,475.5		5,983.8

Aviation	9,846.7		10,913.1		13,625.0
Land	8,625.0		9,108.6		10,993.5
Marine	1,493.9		1,720.9		1,728.7
North America	19,965.7		21,742.5		26,347.3

Other revenues (excluded from ASC 606) (1)	19.4		(104.7)		(183.2)

Total revenue	$	36,916.6	$	42,168.0	$	47,710.6

(1)Includes revenue from derivatives, leases, and other transactions that we account for under separate guidance.

Accounts Receivable, Contract Assets, and Contract Liabilities

The nature of the receivables related to revenue from contracts with customers and other types of contracts (excluded from ASC 606) are substantially similar, as they are both generated from transactions with the same type of counterparties (e.g., sale of fuel and storage that meet the definition of a lease with the same counterparty) and are entered into utilizing 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 Sheets. Furthermore, as of December 31, 2025 and 2024, the contract assets and contracts liabilities recognized by the Company were not material.

Other Contract Balances

Outside of contract assets and liabilities recognized by the Company, we have consideration paid to customers and receivable from vendors. The following table presents these balances and their locations on the Consolidated Balance Sheets (in millions):


		As of December 31,
Balance	Consolidated Balance Sheets location	2025		2024
Consideration paid to customers - current	Other current assets	$	61.0	$	55.1
Consideration paid to customers - noncurrent	Other non-current assets	407.9		371.4
Consideration received from vendors - current	Accrued expenses and other current liabilities	27.3		25.8
Consideration received from vendors - noncurrent	Other long-term liabilities	239.5		207.6

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-7

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-15

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
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-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-13

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

Earnings per Common Share (Tables)

12 Months Ended

Dec. 31, 2025

Earnings Per Share [Abstract]

Summary of Basic and Diluted Earnings per Common Share

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


	For the Year Ended December 31,
	2025		2024		2023
Numerator:
Net income (loss) attributable to World Kinect	$	(614.4)	$	67.4	$	52.9
Denominator:
Weighted average common shares for basic earnings per common share (1)	55.9		59.0		61.4
Effect of dilutive securities	—		0.5		0.3
Weighted average common shares for diluted earnings per common share	55.9		59.5		61.7
Basic earnings (loss) per common share	$	(10.99)	$	1.14	$	0.86
Diluted earnings (loss) per common share	$	(10.99)	$	1.13	$	0.86
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	1.1		1.1		1.3

Acquisitions and Divestitures - Purchase Price Allocation (Details) - USD ($) $ in Millions	Nov. 05, 2025	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Business Combination, Recognized Asset Acquired, Asset [Abstract]
Goodwill		$ 737.5	$ 1,181.7	$ 1,238.0
Trip Support Services
Business Combination, Consideration Transferred [Abstract]
Cash paid at closing	$ 154.4
Business Combination, Consideration Transferred, Liabilities Incurred	52.6
Total fair value of consideration	207.0
Business Combination, Recognized Asset Acquired, Asset [Abstract]
Cash	0.8
Accounts receivable	19.6
Prepaid expenses and other current assets	0.5
Property, plant and equipment	0.3
Identifiable intangible assets subject to amortization (2)	87.5
Identifiable intangible assets not subject to amortization (3)	23.1
Accounts payable	(1.6)
Other assets and liabilities, net (4)	(4.4)
Net identifiable assets acquired	125.8
Goodwill	81.3
Net assets acquired	207.0
Business Combination, Price of Acquisition, Future Cash Payments	$ 15.0
Amortized over a weighted average life	18 years 4 months 24 days
Right of use assets	$ 1.3
Lease liabilities	$ 1.3

Shareholders' Equity - Stock Repurchase Programs (Details) - USD ($) shares in Millions	3 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 04, 2025	Sep. 09, 2024	Mar. 16, 2020
Share Repurchase Program [Line Items]
Authorized amount					$ 150,000,000.0	$ 200,000,000.0	$ 200,000,000.0
Amount available to repurchase shares under stock repurchase program		$ 302,000,000.0
Stock repurchased under Convertible Notes agreement [Member]
Share Repurchase Program [Line Items]
Stock Repurchased During Period, Shares	2.2
Stock Repurchased During Period, Value	$ 50,000,000.0
Stock repurchased under authorized stock repurchase program [Member]
Share Repurchase Program [Line Items]
Stock Repurchased During Period, Shares		3.3	3.6	0.5
Stock Repurchased During Period, Value		$ 85,000,000.0	$ 100,000,000.0	$ 10,100,000

- Definition

Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

- Definition

Equity impact of the value of stock that has been repurchased during the period and has not been retired and is not held in treasury. Some state laws may mandate the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

Business Segments, Geographic Information, and Major Customers - Income Statement Items (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Revenues [Abstract]
Revenue	$ 36,916.6	$ 42,168.0	$ 47,710.6
Operating expenses:
Cost of revenue	(35,968.8)	(41,141.6)	(46,652.4)
Provision for credit losses	3.9	12.0	4.7
Goodwill and other asset impairments	689.6	29.0	32.8
Restructuring and Exit Activities Charges	103.1	7.1	7.2
Income from operations:
Income (loss) from operations	(564.7)	210.6	198.0
Non-operating income (expenses), net:
Interest expense and other financing costs, net	(100.6)	(102.2)	(127.7)
Other income (expense), net	(74.3)	(12.9)	(3.6)
Income (loss) before income taxes	(739.7)	95.5	66.7
Operating Segments
Revenues [Abstract]
Revenue	36,916.6	42,168.0	47,710.6
Operating expenses:
Cost of revenue	(35,968.8)	(41,141.6)	(46,652.4)
Compensation and related costs	(294.9)	(322.3)	(334.2)
Incentive compensation	46.2	56.6	74.1
Corporate allocations (1)	(74.8)	(76.4)	(83.7)
Depreciation and amortization	54.5	55.1	59.3
Provision for credit losses	3.9	12.1	4.8
Goodwill and other asset impairments	689.6	7.0	13.7
Restructuring and Exit Activities Charges	74.5	6.6	5.5
Other segment expenses (2)	(142.0)	(144.0)	(151.8)
Income from operations:
Income (loss) from operations	(432.6)	346.3	331.2
Operating Segments \| Aviation
Revenues [Abstract]
Revenue	18,993.6	20,469.1	23,275.1
Operating expenses:
Cost of revenue	(18,467.3)	(19,983.6)	(22,789.3)
Compensation and related costs	(118.2)	(114.0)	(124.7)
Incentive compensation	27.1	26.0	31.5
Corporate allocations (1)	(37.5)	(37.2)	(40.0)
Depreciation and amortization	17.9	16.2	19.9
Provision for credit losses	5.1	2.5	2.7
Goodwill and other asset impairments	0.1	0.1	0.8
Restructuring and Exit Activities Charges	6.9	0.1	1.5
Other segment expenses (2)	(54.5)	(49.0)	(55.9)
Income from operations:
Income (loss) from operations	259.1	240.4	208.8
Operating Segments \| Land
Revenues [Abstract]
Revenue	10,240.0	12,811.7	15,189.9
Operating expenses:
Cost of revenue	(9,941.6)	(12,427.2)	(14,790.1)
Compensation and related costs	(144.4)	(175.6)	(176.4)
Incentive compensation	10.2	17.9	29.3
Corporate allocations (1)	(16.2)	(17.1)	(19.9)
Depreciation and amortization	35.4	37.8	38.3
Provision for credit losses	1.6	10.2	2.2
Goodwill and other asset impairments	654.7	6.9	12.8
Restructuring and Exit Activities Charges	65.8	3.2	4.0
Other segment expenses (2)	(66.1)	(74.6)	(76.8)
Income from operations:
Income (loss) from operations	(692.6)	41.1	40.1
Operating Segments \| Marine
Revenues [Abstract]
Revenue	7,683.1	8,887.2	9,245.6
Operating expenses:
Cost of revenue	(7,560.0)	(8,730.8)	(9,073.0)
Compensation and related costs	(32.4)	(32.7)	(33.1)
Incentive compensation	8.8	12.6	13.2
Corporate allocations (1)	(21.1)	(22.1)	(23.8)
Depreciation and amortization	1.1	1.1	1.2
Provision for credit losses	0.4	(0.7)	(0.1)
Goodwill and other asset impairments	35.1	0.0	0.0
Restructuring and Exit Activities Charges	1.8	3.3	0.0
Other segment expenses (2)	(21.4)	(20.4)	(19.1)
Income from operations:
Income (loss) from operations	0.9	64.8	82.3
Corporate
Income from operations:
Income (loss) from operations	$ (132.2)	$ (135.7)	$ (133.2)

CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY - USD ($) shares in Millions, $ in Millions	Total	Total World Kinect Shareholders’ Equity	Common Stock	Capital in Excess of Par Value	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interest Equity
Beginning balance (in shares) at Dec. 31, 2022			62.0
Beginning balance at Dec. 31, 2022	$ 1,990.7	$ 1,984.9	$ 0.6	$ 182.4	$ 1,962.5	$ (160.6)	$ 5.9
Increase (Decrease) in Shareholders' Equity
Net income (loss)	53.7	52.9			52.9		0.8
Cash dividends declared	(33.8)	(33.8)			(33.8)
Amortization of share-based payment awards	24.2	24.2		24.2
Issuance (cancellation) of common stock related to share-based payment awards (in shares)			0.6
Share-Based Payment Arrangement, Decrease for Tax Withholding Obligation	5.7	5.7		5.7
Stock Repurchased and Retired During Period, Shares			2.8
Purchases of common stock	(60.7)	(60.7)		(60.6)
Other comprehensive income (loss) before reclassifications	11.8	11.8				11.8
Convertible note hedge transactions	(70.5)	(70.5)		(70.5)
Adjustments to Additional Paid in Capital, Warrant Issued	40.0	40.0		40.0
Ending balance (in shares) at Dec. 31, 2023			59.8
Ending balance at Dec. 31, 2023	1,949.6	1,943.0	$ 0.6	109.6	1,981.6	(148.9)	6.7
Increase (Decrease) in Shareholders' Equity
Net income (loss)	67.9	67.4			67.4		0.5
Cash dividends declared	(39.8)	(39.8)			(39.8)
Amortization of share-based payment awards	28.1	28.1		28.1
Issuance (cancellation) of common stock related to share-based payment awards (in shares)			0.5
Share-Based Payment Arrangement, Decrease for Tax Withholding Obligation	6.8	6.8		6.8
Stock Repurchased and Retired During Period, Shares			3.6
Purchases of common stock	(101.0)	(101.0)		(101.0)
Other comprehensive income (loss) before reclassifications	$ 57.9	57.9				57.9
Ending balance (in shares) at Dec. 31, 2024	56.7		56.7
Ending balance at Dec. 31, 2024	$ 1,955.9	1,948.7	$ 0.6	30.0	2,009.2	(91.0)	7.2
Increase (Decrease) in Shareholders' Equity
Net income (loss)	(611.7)	(614.4)			(614.4)		2.7
Cash dividends declared	(42.4)	(42.4)			(42.4)
Amortization of share-based payment awards	25.5	25.5		25.5
Issuance (cancellation) of common stock related to share-based payment awards (in shares)			0.6
Share-Based Payment Arrangement, Decrease for Tax Withholding Obligation	7.4	7.4		7.4
Stock Repurchased and Retired During Period, Shares			3.3
Purchases of common stock	(85.4)	(85.4)		(48.9)	(36.5)
Other comprehensive income (loss) before reclassifications	$ 73.7	73.7				73.7
Ending balance (in shares) at Dec. 31, 2025	54.1		54.1
Ending balance at Dec. 31, 2025	$ 1,307.9	1,299.1	$ 0.5	0.0	$ 1,315.9	$ (17.3)	8.8
Increase (Decrease) in Shareholders' Equity
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	(1.1)						$ (1.1)
Adjustments to Additional Paid in Capital, Other	$ 0.8	$ 0.8		$ 0.8

Earnings per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	1 Months Ended	12 Months Ended
	Jan. 31, 2026	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Numerator:
Net income (loss) attributable to World Kinect		$ (614.4)	$ 67.4	$ 52.9
Denominator:
Weighted average common shares for basic earnings per common share (1)		55.9	59.0	61.4
Effect of dilutive securities		0.0	0.5	0.3
Weighted average common shares for diluted earnings per common share		55.9	59.5	61.7
Basic earnings (loss) per common share (in dollars per share)		$ (10.99)	$ 1.14	$ 0.86
Diluted earnings (loss) per common share (in dollars per share)		$ (10.99)	$ 1.13	$ 0.86
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)		1.1	1.1	1.3
Stock repurchased under authorized stock repurchase program [Member]
Denominator:
Stock Repurchased During Period, Shares		3.3	3.6	0.5
Stock Repurchased During Period, Value		$ 85.0	$ 100.0	$ 10.1
Subsequent Event [Member] \| Stock repurchased under authorized stock repurchase program [Member]
Denominator:
Stock Repurchased During Period, Shares	2.8
Stock Repurchased During Period, Value	$ 75.0

Accounts Receivable (Tables)

12 Months Ended

Dec. 31, 2025

Receivables [Abstract]

Summary of Accounts Receivable, Allowance for Expected Credit Losses

The following table sets forth activities in our allowance for expected credit losses (in millions):


	2025		2024		2023
Balance as of January 1,	$	23.7	$	20.8	$	17.3
Charges to allowance for credit losses	3.9		12.0		4.7
Write-off of uncollectible receivables	(11.2)		(10.6)		(1.5)
Recoveries of credit losses	0.4		2.0		0.3
Translation adjustments	(0.2)		(0.5)		(0.1)
December 31,	$	16.6	$	23.7	$	20.8

Goodwill and Identifiable Intangible Assets - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible amortization expense	$ 34.6	$ 34.1	$ 36.2
Goodwill, Impairment Loss	$ 528.3

- Definition

The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Subparagraph (b)
-SubTopic 10
-Topic 230
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-28

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 55
-Paragraph 18
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476153/220-40-55-18

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 55
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476153/220-40-55-11

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476153/220-40-55-24

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476148/220-40-50-12

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Name Accounting Standards Codification
-Section 55
-Paragraph 40
-SubTopic 30
-Topic 350
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482640/350-30-55-40

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482665/350-30-50-2

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482686/350-30-45-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476148/220-40-50-6

+ Details

- Definition

Amount of impairment loss from asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References + Details

Property and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
Property and Equipment (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Property and Equipment
Property and equipment before accumulated depreciation and amortization	$ 737.1	$ 989.1
Less: Accumulated depreciation and amortization	388.7	475.8
Total property and equipment, net	348.4	513.3
Depreciation expense	63.6	72.3	$ 68.3
Computer software costs
Computer software costs	254.7	260.8
Less: Accumulated amortization	175.7	171.7
Computer software costs, net	79.0	89.1
Amortization expense related to computer software costs	20.6	23.2	$ 25.4
Land
Property and Equipment
Property and equipment before accumulated depreciation and amortization	53.1	81.4
Buildings and leasehold improvements
Property and Equipment
Property and equipment before accumulated depreciation and amortization	$ 90.7	110.2
Buildings and leasehold improvements \| Minimum
Property and Equipment
Estimated useful lives	1 year
Buildings and leasehold improvements \| Maximum
Property and Equipment
Estimated useful lives	40 years
Computer equipment and software costs
Property and Equipment
Property and equipment before accumulated depreciation and amortization	$ 293.9	301.4
Computer equipment and software costs \| Minimum
Property and Equipment
Estimated useful lives	3 years
Computer equipment and software costs \| Maximum
Property and Equipment
Estimated useful lives	9 years
Machinery, equipment and vehicles
Property and Equipment
Property and equipment before accumulated depreciation and amortization	$ 279.8	475.1
Machinery, equipment and vehicles \| Minimum
Property and Equipment
Estimated useful lives	3 years
Machinery, equipment and vehicles \| Maximum
Property and Equipment
Estimated useful lives	40 years
Furniture and Fixtures
Property and Equipment
Property and equipment before accumulated depreciation and amortization	$ 19.6	$ 20.9
Furniture and Fixtures \| Minimum
Property and Equipment
Estimated useful lives	3 years
Furniture and Fixtures \| Maximum
Property and Equipment
Estimated useful lives	9 years

Leases

12 Months Ended

Dec. 31, 2025

Leases [Abstract]

Leases - Operating

12. 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. 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 recognized the following total lease cost related to our lease arrangements (in millions):


	Year Ended December 31,
	2025		2024		2023
Finance lease cost:
Amortization of right-of-use assets	$	5.9	$	10.4	$	4.0
Interest on lease liabilities	1.2		2.3		0.7
Operating lease cost	48.0		46.3		44.8
Short-term lease cost	26.4		27.9		27.1
Variable lease cost	8.9		8.3		8.6
Sublease income	(14.4)		(14.9)		(14.5)
Total lease cost	$	76.1	$	80.4	$	70.6

As of December 31, 2025, our remaining lease payments, excluding operating and finance leases classified as held for sale, were as follows (in millions):


	Operating Leases		Finance Leases
2026	$	36.1	$	3.5
2027	29.2		0.3
2028	26.3		0.3
2029	23.4		0.3
2030	22.0		0.2
Thereafter	64.3		0.4
Total remaining lease payments (undiscounted)	201.3		5.1
Less: imputed interest	40.4		0.6
Present value of lease liabilities	$	160.9	$	4.4

Supplemental balance sheet information related to leases, excluding operating and finance leases classified as held for sale (in millions):


		December 31,
	Classification	2025		2024
Assets:
Operating lease assets	Other non-current assets	$	156.2	$	172.5
Finance lease assets	Property and equipment, net	$	1.6	$	29.4

Liabilities:
Operating lease liability - current	Accrued expenses and other current liabilities	$	28.2	$	32.1
Operating lease liability - long-term	Other long-term liabilities	$	132.7	$	144.1
Finance lease liability - current	Current maturities of long-term debt	$	3.4	$	7.6
Finance lease liability - long-term	Long-term debt	$	1.0	$	22.4

We recognized the following cash flows related to our lease arrangements (in millions):


	For the Year Ended December 31,
	2025		2024		2023
Cash paid for amounts included in the measurement of lease liabilities (in millions):
Operating cash flows from finance leases	$	1.3	$	2.3	$	0.7
Operating cash flows from operating leases	$	48.4	$	47.5	$	46.2
Financing cash flows from finance leases	$	5.8	$	10.0	$	4.3
Noncash investing and financing lease activities (in millions):
Right of use assets obtained in exchange for new operating lease liability	$	38.4	$	23.9	$	16.8
Right of use assets obtained in exchange for new finance lease liability	$	4.1	$	24.9	$	3.7

Other information related to leases:


	December 31,
	2025	2024
Weighted average remaining lease term of finance leases (in years)	3.2	4.3
Weighted average remaining lease term of operating leases (in years)	7.8	7.9
Weighted average discount rate of finance leases	5.9%	5.4%
Weighted average discount rate of operating leases	5.6%	5.4%

Leases - Finance

12. Leases

We recognized the following total lease cost related to our lease arrangements (in millions):


	Year Ended December 31,
	2025		2024		2023
Finance lease cost:
Amortization of right-of-use assets	$	5.9	$	10.4	$	4.0
Interest on lease liabilities	1.2		2.3		0.7
Operating lease cost	48.0		46.3		44.8
Short-term lease cost	26.4		27.9		27.1
Variable lease cost	8.9		8.3		8.6
Sublease income	(14.4)		(14.9)		(14.5)
Total lease cost	$	76.1	$	80.4	$	70.6

As of December 31, 2025, our remaining lease payments, excluding operating and finance leases classified as held for sale, were as follows (in millions):


	Operating Leases		Finance Leases
2026	$	36.1	$	3.5
2027	29.2		0.3
2028	26.3		0.3
2029	23.4		0.3
2030	22.0		0.2
Thereafter	64.3		0.4
Total remaining lease payments (undiscounted)	201.3		5.1
Less: imputed interest	40.4		0.6
Present value of lease liabilities	$	160.9	$	4.4

Supplemental balance sheet information related to leases, excluding operating and finance leases classified as held for sale (in millions):


		December 31,
	Classification	2025		2024
Assets:
Operating lease assets	Other non-current assets	$	156.2	$	172.5
Finance lease assets	Property and equipment, net	$	1.6	$	29.4

Liabilities:
Operating lease liability - current	Accrued expenses and other current liabilities	$	28.2	$	32.1
Operating lease liability - long-term	Other long-term liabilities	$	132.7	$	144.1
Finance lease liability - current	Current maturities of long-term debt	$	3.4	$	7.6
Finance lease liability - long-term	Long-term debt	$	1.0	$	22.4

We recognized the following cash flows related to our lease arrangements (in millions):


	For the Year Ended December 31,
	2025		2024		2023
Cash paid for amounts included in the measurement of lease liabilities (in millions):
Operating cash flows from finance leases	$	1.3	$	2.3	$	0.7
Operating cash flows from operating leases	$	48.4	$	47.5	$	46.2
Financing cash flows from finance leases	$	5.8	$	10.0	$	4.3
Noncash investing and financing lease activities (in millions):
Right of use assets obtained in exchange for new operating lease liability	$	38.4	$	23.9	$	16.8
Right of use assets obtained in exchange for new finance lease liability	$	4.1	$	24.9	$	3.7

Other information related to leases:


	December 31,
	2025	2024
Weighted average remaining lease term of finance leases (in years)	3.2	4.3
Weighted average remaining lease term of operating leases (in years)	7.8	7.9
Weighted average discount rate of finance leases	5.9%	5.4%
Weighted average discount rate of operating leases	5.6%	5.4%

Fair Value Measurements - Nonrecurring Fair Value Measurements (Details) £ in Millions, $ in Millions	3 Months Ended				12 Months Ended
	Dec. 31, 2025 USD ($)	Jun. 30, 2025 USD ($)	Mar. 31, 2025 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 GBP (£)
Goodwill and other asset impairment charges					$ 0.0	$ 7.7	$ 2.5
Goodwill and other asset impairments					689.6	29.0	32.8
Equity Securities without Readily Determinable Fair Value, Impairment Loss, Annual Amount					5.4	0.0	5.0
Goodwill, Impairment Loss					528.3
Land
Goodwill, Impairment Loss	$ 169.3	$ 359.0			528.3	0.0	0.0
Land \| Disposal Group, Not Discontinued Operations [Member] \| Watson Fuels
Goodwill and other asset impairment charges			$ 44.5		44.5	0.0	0.0
Land \| Disposal Group, Not Discontinued Operations [Member] \| Land Fuel Transportation and Lubricants Group [Member]
Goodwill and other asset impairment charges	85.1
Impairment of Long-Lived Assets to be Disposed of	49.7				49.7	0.0	0.0
Goodwill, Impairment Loss	35.3
Marine
Goodwill and other asset impairment charges		31.6
Marine \| Disposal Group, Not Discontinued Operations [Member] \| Falmouth Group [Member]
Goodwill and other asset impairment charges	3.3				35.0	0.0	0.0
Nonconsolidated Investees, Other [Member]
Equity Method Investments, Fair Value Disclosure				$ 19.1			19.1	£ 15.0
Equity Method Investment, Other-than-Temporary Impairment				$ 14.1	0.0	18.2	14.1
Trademarks and Trade Names [Member]
Indefinite lived intangible assets	44.2				44.2	44.9
Trademarks and Trade Names [Member] \| Land
Goodwill and other asset impairment charges	13.0	$ 8.0
Impairment of Intangible Assets, Indefinite-Lived (Excluding Goodwill)					21.0	$ 0.0	$ 0.0
Indefinite lived intangible assets	$ 16.3				$ 16.3

Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2025

Equity [Abstract]

Schedule of Outstanding Awards Issued


Plan name	RSUs	Remaining Shares of Common Stock Available for Future Issuance
2025 Plan (1)	0.2	3.3
2021 Plan (2)	1.7	—
2006 Plan (3)	0.1	—

(1)As of December 31, 2025, unvested RSUs will vest between June 2026 and December 2028.

(2)As of December 31, 2025, unvested RSUs will vest between March 2026 and May 2029.

Schedule of RSUs

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


	RSUs	Weighted Average Grant Date Fair Value Price		Aggregate Intrinsic Value		Weighted Average Remaining Contractual Life (in Years)
As of December 31, 2022	3.0	$	26.41	$	81.4	1.6
Granted	1.3	23.48
Vested (1)	(0.8)	25.16
Forfeited	(0.5)	23.24
As of December 31, 2023	3.0	25.99		67.9		1.5
Granted	0.8	25.46
Vested (1)	(0.8)	25.41
Forfeited	(0.4)	27.36
As of December 31, 2024	2.7	25.80		73.1		1.9
Granted	0.8	27.19
Vested (1)	(0.9)	24.36
Forfeited	(0.7)	30.07
As of December 31, 2025	1.9	$	25.45	$	44.4	1.7

(1) The aggregate intrinsic value of RSUs vested during the years ended December 31, 2025, 2024, and 2023 was $23.2 million, $19.4 million, and $18.2 million, respectively.

Schedule of outstanding and exercisable SSAR Awards


	SSAR Awards Outstanding						SSAR Awards Exercisable
	SSAR Awards	Weighted Average Exercise Price		Aggregate Intrinsic Value		Weighted Average Remaining Contractual Life (in Years)	SSAR Awards	Weighted Average Exercise Price		Aggregate Intrinsic Value		Weighted Average Remaining Contractual Life (in Years)
As of December 31, 2022	0.5	$	26.35	$	0.8	0.9	0.4	$	27.43	$	0.3	0.5

Exercised (1)	(0.2)	26.40


As of December 31, 2023	0.3	26.09		—		0.8	0.3	26.09		—		0.8


Expired	(0.1)	29.68

As of December 31, 2024	0.1	23.39		0.6		0.2	0.1	23.39		0.6		0.2

Exercised (1)	(0.1)	23.39


As of December 31, 2025	—	$	—	$	—	0.0	—	$	—	$	—	0.0

(1)The aggregate intrinsic value of SSAR Awards exercised was $0.8 million and $0.8 million for the years ended December 31, 2025 and 2023, respectively.

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

The after-tax changes in Accumulated other comprehensive income (loss) by component were as follows (in millions):


	Foreign Currency Translation Adjustments		Cash Flow Hedges		Accumulated Other Comprehensive Loss
Balance as of December 31, 2023	$	(159.6)	$	10.8	$	(148.9)
Other comprehensive income (loss) before reclassifications	(29.6)		3.1		(26.5)
Amounts reclassified from Accumulated other comprehensive income (loss) (1)	97.0		(12.6)		84.4

Balance as of December 31, 2024	(92.2)		1.2		(91.0)
Other comprehensive income (loss) before reclassifications	19.5		(10.8)		8.7
Amounts reclassified from Accumulated other comprehensive income (loss) (1)	55.1		9.9		65.0

Balance as of December 31, 2025	$	(17.6)	$	0.3	$	(17.3)

Goodwill and Identifiable Intangible Assets - Future Estimated Amortization of Identifiable Intangible Assets (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Year Ended December 31,
2026	$ 32.7
2027	29.6
2028	27.6
2029	27.3
2030	27.1
Thereafter	123.1
Net	$ 267.4	$ 216.3

Debt, Interest Income, Expense, and Other Finance Costs - Interest Income, Expense and Other Financing Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Debt, Interest Income, Expense and Other Finance Costs [Abstract]
Interest income	$ 11.4	$ 13.8	$ 7.8
Interest expense and other financing costs	(112.0)	(116.0)	(135.5)
Interest expense and other financing costs, net	(100.6)	(102.2)	(127.7)
Interest Paid, Excluding Capitalized Interest, Operating Activity	$ 105.8	$ 113.6	$ 130.4

- Definition

Amount of interest expense classified as operating and nonoperating. Includes, but is not limited to, cost of borrowing accounted for as interest expense.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 48
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-48

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
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-Name Accounting Standards Codification
-Section 55
-Paragraph 49
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-49

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-24

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483013/835-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section 45
-Paragraph 3
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479105/946-220-45-3

+ Details

Supplier Finance Programs (Tables)

12 Months Ended

Dec. 31, 2025

Payables and Accruals [Abstract]

Supplier Finance Programs

The rollforward of our outstanding obligations confirmed under our supplier finance programs, included in Accounts payable within our Consolidated Balance Sheets, is as follows (in millions):


	2025		2024
Confirmed obligations outstanding as of January 1,	$	168.8	$	198.8
Obligations confirmed during the period	1,522.7		1,213.1
Confirmed invoices paid during the period	(1,481.4)		(1,243.1)
Confirmed obligations outstanding as of December 31,	$	210.1	$	168.8

Business Segments, Geographic Information, and Major Customers - Geographic Summary (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Revenues [Abstract]
Revenue	$ 36,916.6	$ 42,168.0	$ 47,710.6
Property and equipment, net:
Property and equipment, net	348.4	513.3
United States
Revenues [Abstract]
Revenue	19,280.0	20,905.1	25,403.7
Property and equipment, net:
Property and equipment, net	226.4	325.2
EMEA
Revenues [Abstract]
Revenue	7,941.6	9,672.9	10,003.2
Property and equipment, net:
Property and equipment, net	76.4	141.4
Asia Pacific
Revenues [Abstract]
Revenue	4,568.4	5,366.0	5,430.7
Property and equipment, net:
Property and equipment, net	11.7	10.3
Americas, excluding United States
Revenues [Abstract]
Revenue	5,126.6	6,224.0	6,873.0
Property and equipment, net:
Property and equipment, net	33.8	36.4
U.K.
Revenues [Abstract]
Revenue	3,100.0	4,800.0	5,300.0
Singapore
Revenues [Abstract]
Revenue	$ 4,500.0	$ 5,300.0	$ 5,300.0

Commitments and Contingencies - Legal, Tax, and Other Matters (Details) $ in Millions, ₩ in Billions	3 Months Ended	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2025 KRW (₩)
Loss Contingencies [Line Items]
Cost of revenue		$ 35,968.8	$ 41,141.6	$ 46,652.4
Finnish Bid Error
Loss Contingencies [Line Items]
Cost of revenue	$ 48.8
Tax Authority, South Korea (SRTO) \| Assessment \| Foreign Tax Jurisdiction
Loss Contingencies [Line Items]
Estimate of possible loss		$ 23.8			₩ 34.3

- Definition

The aggregate cost of goods produced and sold and services rendered during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(i))
-Publisher FASB
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
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-Section 50
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-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28

Reference 4: http://www.xbrl.org/2003/role/exampleRef
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-Name Accounting Standards Codification
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-Paragraph 48
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-48

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Section S99
-Paragraph 2
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
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-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
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-Paragraph 1A
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (SX 210.13-01(a)(4)(iv))
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-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-Section S99
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 275
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
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-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483076/450-20-50-1

+ Details

Shareholders' Equity - SSAR Awards (Details) - SSAR Awards - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
SSAR Awards
Balance at the beginning of the period (in shares)	0.1	0.3	0.5
Exercised (in shares)	(0.1)		(0.2)
Expired (in shares)		0.1
Balance at the end of the period (in shares)	0.0	0.1	0.3	0.5
Weighted Average Exercise Price
Balance at the beginning of the period (in dollars per share)	$ 23.39	$ 26.09	$ 26.35
Exercised (in dollars per share)	23.39		26.40
Expired (in dollars per share)		29.68
Balance at the end of the period (in dollars per share)	$ 0	$ 23.39	$ 26.09	$ 26.35
Aggregate Intrinsic Value	$ 0.0	$ 0.6	$ 0.0	$ 0.8
Weighted Average Remaining Contractual Life (in Years)	0 years	2 months 12 days	9 months 18 days	10 months 24 days
SSAR Awards Exercisable
SSAR Awards (in shares)	0.0	0.1	0.3	0.4
Weighted Average Exercise Price (in dollars per share)	$ 0	$ 23.39	$ 26.09	$ 27.43
Aggregate Intrinsic Value	$ 0.0	$ 0.6	$ 0.0	$ 0.3
Weighted Average Remaining Contractual Life (in Years)	0 years	2 months 12 days	9 months 18 days	6 months
Exercises in Period Intrinsic Value	$ 0.8		$ 0.8

Derivative Instruments - Effect on Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Carrying Amount of Hedged Asset/(Liabilities)	$ 73.3	$ 95.2
Hedged Asset, Statement of Financial Position [Extensible Enumeration]
Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Asset/(Liabilities)	$ (1.0)	$ 3.8
Gain (loss) on derivative
Revenue	36,916.6	42,168.0	$ 47,710.6
Cost of revenue	35,968.8	41,141.6	46,652.4
Derivative, Credit Risk Related Contingent Features [Abstract]
Net derivative liability positions with credit contingent features	20.2	40.9
Collateral posted and held by our counterparties	(3.7)	0.0
Maximum additional potential collateral requirements	16.5	40.9
Interest expense and other financing costs, net	100.6	102.2	127.7
Revenue
Summary of Cash Flow Hedge Activity [Abstract]
Total amount of income and expense line items excluding the impact of hedges, Revenue	36,929.0	42,171.4	47,710.4
Cost of revenue
Summary of Cash Flow Hedge Activity [Abstract]
Total amount of income and expense line items excluding the impact of hedges, Cost of revenue	35,964.4	41,148.9	46,656.7
Interest expense and other financing costs, net
Derivative, Credit Risk Related Contingent Features [Abstract]
Total amount of income and expense line items excluding the impact of hedges, Interest expense and other financing costs	(103.6)	(116.7)	(141.7)
Commodity contracts: \| Revenue
Effect of Fair Value Hedges on Results of Operations [Abstract]
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	0.0	0.0	0.0
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments	0.0	0.0	0.0
Summary of Cash Flow Hedge Activity [Abstract]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax	(12.4)	(3.4)	0.2
Commodity contracts: \| Cost of revenue
Effect of Fair Value Hedges on Results of Operations [Abstract]
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	(5.4)	5.4	0.8
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments	5.1	(4.1)	3.4
Summary of Cash Flow Hedge Activity [Abstract]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax	(4.1)	6.1	0.0
Commodity contracts: \| Interest expense and other financing costs, net
Effect of Fair Value Hedges on Results of Operations [Abstract]
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge	0.0	0.0	0.0
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments	0.0	0.0	0.0
Summary of Cash Flow Hedge Activity [Abstract]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax	0.0	0.0	0.0
Interest rate contract: \| Revenue
Summary of Cash Flow Hedge Activity [Abstract]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax	0.0	0.0	0.0
Interest rate contract: \| Cost of revenue
Summary of Cash Flow Hedge Activity [Abstract]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax	0.0	0.0	0.0
Interest rate contract: \| Interest expense and other financing costs, net
Summary of Cash Flow Hedge Activity [Abstract]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax	2.9	14.5	14.0
Derivatives designated as hedging instruments
Summary of Cash Flow Hedge Activity [Abstract]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax	(10.8)	3.1	2.4
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, after Tax	(9.9)	12.6	10.5
Derivatives designated as hedging instruments \| Commodity contracts: \| Revenue
Summary of Cash Flow Hedge Activity [Abstract]
Derivative, Gain (Loss) on Derivative, Not Recorded In Accumulated Other Comprehensive Income (Loss) Due To Intra-Period Settlement, After Tax	11.1	5.6	(1.5)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax	(7.2)	(4.3)	0.0
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, after Tax	(9.1)	(2.5)	0.2
Derivatives designated as hedging instruments \| Commodity contracts: \| Cost of revenue
Summary of Cash Flow Hedge Activity [Abstract]
Derivative, Gain (Loss) on Derivative, Not Recorded In Accumulated Other Comprehensive Income (Loss) Due To Intra-Period Settlement, After Tax	5.6	(15.4)	(0.3)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax	(3.6)	5.6	(0.7)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, after Tax	(3.0)	4.4	0.0
Derivatives designated as hedging instruments \| Interest rate contract: \| Interest expense and other financing costs, net
Summary of Cash Flow Hedge Activity [Abstract]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax	0.0	1.9	3.0
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, after Tax	2.1	10.7	10.3
Derivatives not designated as hedging instruments
Summary of Cash Flow Hedge Activity [Abstract]
Derivative, Gain (Loss) on Derivative, Net	(39.3)	(107.7)	(237.5)
Derivatives not designated as hedging instruments \| Commodity contracts:
Summary of Cash Flow Hedge Activity [Abstract]
Derivative, Gain (Loss) on Derivative, Net	(24.0)	(104.8)	(231.9)
Derivatives not designated as hedging instruments \| Commodity contracts: \| Revenue
Summary of Cash Flow Hedge Activity [Abstract]
Derivative, Gain (Loss) on Derivative, Net	(14.5)	(126.2)	(190.5)
Derivatives not designated as hedging instruments \| Commodity contracts: \| Cost of revenue
Summary of Cash Flow Hedge Activity [Abstract]
Derivative, Gain (Loss) on Derivative, Net	(9.5)	21.4	(41.4)
Derivatives not designated as hedging instruments \| Foreign currency exchange contracts:
Summary of Cash Flow Hedge Activity [Abstract]
Derivative, Gain (Loss) on Derivative, Net	(15.3)	(2.9)	(5.6)
Derivatives not designated as hedging instruments \| Foreign currency exchange contracts: \| Revenue
Summary of Cash Flow Hedge Activity [Abstract]
Derivative, Gain (Loss) on Derivative, Net	(1.2)	(0.5)	(8.0)
Derivatives not designated as hedging instruments \| Foreign currency exchange contracts: \| Other Nonoperating Income (Expense)
Summary of Cash Flow Hedge Activity [Abstract]
Derivative, Gain (Loss) on Derivative, Net	$ (14.1)	$ (2.4)	$ 2.3

Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2025

Property, Plant and Equipment [Abstract]

Schedule of property and equipment

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


	As of December 31,				Estimated
	2025		2024		Useful Lives
Land	$	53.1	$	81.4	Indefinite
Buildings and leasehold improvements	90.7		110.2		1 - 40 years
Office equipment, furniture and fixtures	19.6		20.9		3 - 9 years
Computer equipment and software costs	293.9		301.4		3 - 9 years
Machinery, equipment and vehicles (1)	279.8		475.1		3 - 40 years
Total property and equipment	737.1		989.1
Less: Accumulated depreciation and amortization (1)	388.7		475.8
Total property and equipment, net	$	348.4	$	513.3

(1)Includes right of use assets associated with finance leases. See Note 12. Leases for additional information.

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


	As of December 31,
	2025		2024
Computer software costs	$	254.7	$	260.8
Less: Accumulated amortization	175.7		171.7
Computer software costs, net	$	79.0	$	89.1

Discontinued Operations and Disposal Groups - Narrative (Details) - USD ($) $ in Millions				3 Months Ended			12 Months Ended
	Apr. 09, 2025	Dec. 13, 2024	May 01, 2024	Dec. 31, 2025	Jun. 30, 2025	Mar. 31, 2025	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of business, net of divested cash							$ 23.4	$ 209.0	$ 9.3
(Gain) loss on sale of business							(81.9)	(15.2)	2.2
Income tax expense (benefit)							127.9	(27.6)	(13.0)
Goodwill and other asset impairment charges							0.0	7.7	2.5
Goodwill, Impairment Loss							528.3
Cash and cash equivalents				$ 0.6			0.6
Accounts receivable, net				0.2			0.2
Inventories				35.9			35.9
Prepaid expenses and other current assets				0.3			0.3
Property and equipment, net				51.1			51.1
Intangible assets, net				8.5			8.5
Other non-current assets				11.7			11.7
Disposal Group, Including Discontinued Operation, Assets, Total				108.2			108.2
Accounts payable				0.3			0.3
Finance lease liability - long-term				5.2			5.2
Other long-term liabilities				18.1			18.1
Disposal Group, Including Discontinued Operation, Liabilities, Total				28.3			28.3
Aviation
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Goodwill, Impairment Loss							0.0
Land
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Goodwill, Impairment Loss				169.3	$ 359.0		528.3	0.0	0.0
Marine
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Goodwill and other asset impairment charges					31.6
Disposal Group, Not Discontinued Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Accrued expenses and other liabilities				4.8			4.8
Disposal Group, Not Discontinued Operations [Member] \| Avinode Group \| Aviation
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of business, net of divested cash			$ 200.1
(Gain) loss on sale of business					96.0
Disposal Group, Including Discontinued Operation, Foreign Currency Translation Gains (Losses)					(17.1)
Income tax expense (benefit)					(12.4)
Disposal Group, Not Discontinued Operations [Member] \| Brazil Group
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of business, net of divested cash		$ 8.9
(Gain) loss on sale of business								(111.2)
Disposal Group, Including Discontinued Operation, Foreign Currency Translation Gains (Losses)								(80.0)
Income tax expense (benefit)								6.0
Disposal Group, Not Discontinued Operations [Member] \| Watson Fuels \| Land
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
(Gain) loss on sale of business					(81.7)
Disposal Group, Including Discontinued Operation, Foreign Currency Translation Gains (Losses)					(55.1)
Income tax expense (benefit)					$ 6.3
Proceeds from Divestiture of Business, Total Consideration	$ 42.8
Goodwill and other asset impairment charges						$ 44.5	44.5	0.0	0.0
Amount due to sellers (1)	$ 23.6
Disposal Group, Not Discontinued Operations [Member] \| Land Fuel Transportation and Lubricants Group [Member] \| Land
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Goodwill and other asset impairment charges				85.1
Impairment of Long-Lived Assets to be Disposed of				49.7			49.7	0.0	0.0
Goodwill, Impairment Loss				35.3
Disposal Group, Including Discontinued Operation, Consideration				80.0			80.0
Disposal Group, Not Discontinued Operations [Member] \| Falmouth Group [Member] \| Marine
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Goodwill and other asset impairment charges				$ 3.3			$ 35.0	$ 0.0	$ 0.0