World Kinect (WKC) 10-Q 28 Jul 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Jul. 20, 2017
Document and Entity Information
Entity Registrant Name	WORLD FUEL SERVICES CORP
Entity Central Index Key	789,460
Document Type	10-Q
Document Period End Date	Jun. 30, 2017
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding (in shares)		68,491,123
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 575.6	$ 698.6
Accounts receivable, net	2,241.4	2,344
Inventories	441.8	458
Prepaid expenses	45.3	46.5
Short-term derivative assets, net	48.7	58.9
Other current assets	236.1	230.6
Total current assets	3,588.8	3,836.6
Property and equipment, net	328	311.2
Goodwill	887.9	835.8
Identifiable intangible and other non-current assets	481.4	429.1
Total assets	5,286	5,412.6
Current liabilities:
Short-term debt	21.7	15.4
Accounts payable	1,794.4	1,770.4
Customer deposits	91.1	90.8
Accrued expenses and other current liabilities	221.4	306
Total current liabilities	2,128.5	2,182.7
Long-term debt	1,046.1	1,170.8
Non-current income tax liabilities, net	76.3	84.6
Other long-term liabilities	40.7	34.5
Total liabilities	3,291.7	3,472.6
Commitments and contingencies
World Fuel shareholders' equity:
Preferred stock, $1.00 par value; 0.1 shares authorized, none issued	0	0
Common stock, $0.01 par value; 100.0 shares authorized, 68.6 and 69.9 issued and outstanding as of June 30, 2017 and December 31, 2016, respectively	0.7	0.7
Capital in excess of par value	373.3	399.9
Retained earnings	1,732.4	1,679.3
Accumulated other comprehensive loss	(127.8)	(154.8)
Total World Fuel shareholders' equity	1,978.6	1,925
Noncontrolling interest equity	15.7	15
Total equity	1,994.3	1,940
Total liabilities and equity	$ 5,286	$ 5,412.6

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 1	$ 1
Preferred stock, shares authorized (in shares)	100,000	100,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	68,600,000	69,900,000
Common stock, shares outstanding (in shares)	68,600,000	69,900,000

Consolidated Statements of Inco

Consolidated Statements of Income and Comprehensive Income - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Income Statement [Abstract]
Revenue	$ 8,086.2	$ 6,633	$ 16,280.4	$ 11,823.9
Cost of revenue	7,855.2	6,414.5	15,818	11,383.9
Gross profit	231	218.5	462.4	440
Operating expenses:
Compensation and employee benefits	102.3	103.7	206.8	199.6
Provision for bad debt	1.5	2.5	3.9	3.9
General and administrative	76	66.8	150.1	129.9
Total operating expenses	179.7	173	360.9	333.4
Income from operations	51.2	45.6	101.6	106.6
Non-operating expenses, net:
Interest expense and other financing costs, net	(13.8)	(8.1)	(26.5)	(15.7)
Other (expense) income, net	(2.6)	(0.6)	(4.1)	0.7
Total non-operating expenses, net	(16.4)	(8.7)	(30.6)	(15)
Income before income taxes	34.9	36.9	70.9	91.6
Provision for income taxes	4.6	7.1	9.6	10.3
Net income including noncontrolling interest	30.3	29.8	61.3	81.3
Net income (loss) attributable to noncontrolling interest	0.2	(0.2)	0	(0.3)
Net income attributable to World Fuel	$ 30	$ 30	$ 61.4	$ 81.6
Basic earnings per common share (in dollars per share)	$ 0.44	$ 0.43	$ 0.90	$ 1.17
Basic weighted average common shares (in shares)	68.4	69.5	68.5	69.5
Diluted earnings per common share (in dollars per share)	$ 0.44	$ 0.43	$ 0.89	$ 1.17
Diluted weighted average common shares (in shares)	68.7	70	68.9	70
Comprehensive income:
Net income including noncontrolling interest	$ 30.3	$ 29.8	$ 61.3	$ 81.3
Other comprehensive income (loss):
Foreign currency translation adjustments	11.2	(14.5)	17.6	(13.2)
Cash Flow hedges, net of income tax benefit of $6.6 for the six months ended June 30, 2017	0	5.2	10.5	5
Other comprehensive income (loss)	11.2	(9.3)	28.1	(8.3)
Comprehensive income including noncontrolling interest	41.5	20.5	89.4	73
Comprehensive income (loss) attributable to noncontrolling interest	1.1	(1)	1	0.5
Comprehensive income attributable to World Fuel	$ 40.3	$ 21.5	$ 88.4	$ 72.5

Consolidated Statements of Inc5

Consolidated Statements of Income and Comprehensive Income (Parenthetical) $ in Millions	6 Months Ended
	Jun. 30, 2017USD ($)
Income Statement [Abstract]
Derivative instruments, income tax benefit	$ 6.6

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) shares in Millions, $ in Millions		Total	Common Stock	Capital in Excess of Par Value	Retained Earnings	Accumulated Other Comprehensive Loss	Total World Fuel Shareholders' Equity	Noncontrolling Interest Equity
Balance as of beginning of period at Dec. 31, 2015		$ 1,905.9	$ 0.7	$ 435.3	$ 1,569.4	$ (109.5)	$ 1,895.9	$ 10
Balance (in shares) at Dec. 31, 2015			70.8
Increase (Decrease) in Shareholders' Equity
Net income (loss)		81.3			81.6		81.6	(0.3)
Cash dividends declared		(8.3)			(8.3)		(8.3)
Distribution of noncontrolling interest		(0.2)						(0.2)
Amortization of share-based payment awards		8.9		8.9			8.9
Issuance of common stock related to share-based payment awards (in shares)			0.1
Purchases of common stock tendered by employees to satisfy the required withholding taxes related to share-based payment awards		(3.9)		(3.9)			(3.9)
Purchases of common stock tendered by employees to satisfy the required withholding taxes related to share-based payment awards (in shares)			(0.1)
Purchases of common stock		(18.4)		(18.4)			(18.4)
Purchases of common stock (in shares)			(0.4)
Acquisition of remaining 49% equity interest	[1]	(3.7)		(10.9)			(10.9)	7.2
Other comprehensive income (loss)		(8.3)				(9.1)	(9.1)	0.8
Balance as of end of period at Jun. 30, 2016		1,953.3	$ 0.7	411	1,642.7	(118.6)	1,935.8	17.5
Balance (in shares) at Jun. 30, 2016			70.4
Balance as of beginning of period at Dec. 31, 2016		$ 1,940	$ 0.7	399.9	1,679.3	(154.8)	1,925	15
Balance (in shares) at Dec. 31, 2016		69.9	69.9
Increase (Decrease) in Shareholders' Equity
Net income (loss)		$ 61.3			61.4		61.4	0
Cash dividends declared		(8.2)			(8.2)		(8.2)
Distribution of noncontrolling interest		(0.4)						(0.4)
Amortization of share-based payment awards		9.3		9.3			9.3
Issuance of common stock related to share-based payment awards (in shares)			(0.6)
Purchases of common stock tendered by employees to satisfy the required withholding taxes related to share-based payment awards		(3.9)		(3.9)			(3.9)
Purchases of common stock tendered by employees to satisfy the required withholding taxes related to share-based payment awards (in shares)			0.1
Purchases of common stock		(31.9)		(31.9)			(31.9)
Purchases of common stock (in shares)			(0.9)
Other comprehensive income (loss)		28.1				27	27	1.1
Balance as of end of period at Jun. 30, 2017		$ 1,994.3	$ 0.7	$ 373.3	$ 1,732.4	$ (127.8)	$ 1,978.6	$ 15.7
Balance (in shares) at Jun. 30, 2017		68.6	68.6
[1]	Relates to Tobras. See Note 2. Acquisitions.

Consolidated Statements of Sha7

Consolidated Statements of Shareholders' Equity (Parenthetical)	Jun. 30, 2016	Jun. 23, 2016
Statement of Stockholders' Equity [Abstract]
Previous percentage ownership of noncontrolling owners	49.00%	49.00%

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Cash flows from operating activities:
Net income including noncontrolling interest	$ 61.3	$ 81.3
Adjustments to reconcile net income including noncontrolling interest to net cash provided by operating activities:
Depreciation and amortization	43.4	36.7
Provision for bad debt	3.9	3.9
Gain on sale of held for sale assets and liabilities	0	(3.8)
Share-based payment award compensation costs	9.2	8.8
Deferred income tax (benefit) provision	(8)	0.2
Extinguishment of liabilities, net	(2.2)	(1.7)
Foreign currency gains, net	(6.5)	(4.2)
Other	0.4	2.8
Changes in assets and liabilities, net of acquisitions:
Accounts receivable, net	108.7	(230.1)
Inventories	15.2	(10.2)
Prepaid expenses	0.3	12.4
Short-term derivative assets, net	14.2	174.6
Other current assets	3.1	(56.6)
Cash collateral with financial counterparties	(5.9)	113
Other non-current assets	(12.4)	6.8
Accounts payable	12.8	190
Customer deposits	(1)	(15.9)
Accrued expenses and other current liabilities	(72.7)	(101.2)
Non-current income tax, net and other long-term liabilities	(8.1)	(5.8)
Total adjustments	94.5	119.7
Net cash provided by operating activities	155.8	201
Cash flows from investing activities:
Acquisition of businesses, net of cash acquired and other investments	(88.4)	(49.7)
Proceeds from sale of business	0	29.3
Capital expenditures	(31.5)	(23.3)
Other investing activities, net	(0.4)	6.9
Net cash (used in) investing activities	(120.4)	(36.8)
Cash flows from financing activities:
Borrowings of debt	1,991.8	1,577.5
Repayments of debt	(2,111.1)	(1,557.3)
Dividends paid on common stock	(8.2)	(8.3)
Purchases of common stock	(31.9)	(18.4)
Purchases of common stock tendered by employees to satisfy the required withholding taxes related to share-based payment awards	(3.9)	(3.9)
Other financing activities, net	(0.4)	(0.2)
Net cash used in financing activities	(163.7)	(10.6)
Effect of exchange rate changes on cash and cash equivalents	5.2	1.1
Net (decrease) increase in cash and cash equivalents	(123)	154.7
Cash and cash equivalents, as of beginning of period	698.6	582.5
Cash and cash equivalents, as of end of period	$ 575.6	$ 737.2

Consolidated Statements of Cas9

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Supplemental Schedule of Noncash Investing and Financing Activities
Cash dividends declared, but not yet paid	$ 4.1	$ 4.2
Assets acquired, net of cash	98.6	31.3
Liabilities assumed	$ 6.7	$ 1.7

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Significant Accounting Policies	Basis of Presentation and Significant Accounting Policies Basis of Presentation We prepared the consolidated financial statements following the requirements of the Unites States (“U.S.”) Securities and Exchange Commission (“SEC”) for interim reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by accounting principles generally accepted in the United States of America (“U.S. GAAP”) can be condensed or omitted. Unless the context requires otherwise, references to “World Fuel”, “the Company”, “we”, “us”, or “our” in this Quarterly Report on Form 10-Q (“10-Q Report”) refer to World Fuel Services Corporation and its subsidiaries. Revenues, expenses, assets and liabilities can vary during each quarter of the year. Therefore, the results and trends in these interim financial statements may not be representative of those for the full year. In our opinion, all adjustments necessary for a fair presentation of the financial information, which are of a normal and recurring nature, have been made for the interim periods reported. The information included in this 10-Q Report should be read in conjunction with the consolidated financial statements and accompanying notes included in our 2016 Annual Report on Form 10-K (“ 2016 10-K Report”). Certain amounts in the consolidated financial statements and associated notes may not add due to rounding. All percentages have been calculated using unrounded amounts. Significant Accounting Policies The significant accounting policies we use for quarterly financial reporting are disclosed in Note 1 of the “Notes to the Consolidated Financial Statements” included in our 2016 10‑K Report. Accounting Standards Issued but Not Yet Adopted Earnings Per Share (Topic 260); Distinguishing Liabilities from Equity (Topic 480); Derivatives and Hedging (Topic 815). In July 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2017-11. The amendment changes the classification of certain equity-linked financial instruments (or embedded features) with down round features. The amendments also clarify existing disclosure requirements for equity-classified instruments. This standard is effective at the beginning of our 2019 fiscal year. We are currently evaluating whether the adoption of this new guidance will have a significant impact on our consolidated financial statements and related disclosures. Service Concession Arrangements (Topic 853): Determining the Customer of the Operation Services. In May 2017, ASU 2017-10 was issued. The amendments clarify that the grantor in a service concession arrangement is the customer of the operation services in all cases for those arrangements. This standard is effective at the beginning of our 2019 fiscal year. We are currently evaluating whether the adoption of this new guidance will have a significant impact on our consolidated financial statements and related disclosures. Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting. In May 2017, ASU 2017-09 was issued. The amendments provide guidance on determining which changes to the terms and conditions of share-based payment awards require an entity to apply modification accounting. This standard is effective at the beginning of our 2019 fiscal year. We are currently evaluating whether the adoption of this new guidance will have a significant impact on our consolidated financial statements and related disclosures. Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20): Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets. In February 2017, ASU 2017-05 was issued. The amendments in the update clarify a financial asset is within the scope of this guidance if it meets the definition of an in substance nonfinancial asset; this may include nonfinancial assets transferred within a legal entity to a counterparty. This standard is effective at the beginning of our 2018 fiscal year. We are currently evaluating whether the adoption of this new guidance will have a significant impact on our consolidated financial statements and related disclosures. Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment . In January 2017, ASU 2017-04 was issued. The update simplifies the subsequent measurement of goodwill by eliminating Step 2 from the goodwill impairment test. Under the amendment an entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. This standard is effective at the beginning of our 2020 fiscal year. We are currently evaluating whether the adoption of this new guidance will have a significant impact on our consolidated financial statements and related disclosures. Business Combinations (Topic 805): Clarifying the Definition of a Business. In January 2017, ASU 2017-01 was issued. The update clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of businesses. This standard is effective at the beginning of our 2018 fiscal year. We are currently evaluating whether the adoption of this new guidance will have a significant impact on our consolidated financial statements and related disclosures. Cash Flows: Statement of Cash Flows (Topic 230): Restricted Cash. In November 2016, ASU 2016-18 was issued. The update requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. This standard is effective at the beginning of our 2018 fiscal year. We are currently evaluating whether the adoption of this new guidance will have a significant impact on our consolidated financial statements and related disclosures. Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other than Inventory. In October 2016, ASU 2016-16 was issued. The update prohibits the recognition of current and deferred income taxes for an intra-entity asset transfer until the asset has been sold to an outside party. This standard is effective at the beginning of our 2018 fiscal year. We are currently evaluating whether the adoption of this new guidance will have a significant impact on our consolidated financial statements and related disclosures. Cash Flows: Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. In August 2016 ASU 2016-15 was issued. The ASU provides guidance on classification of eight specific cash flows items. This standard is effective at the beginning of our 2018 fiscal year. We are currently evaluating whether the adoption of this new guidance will have a significant impact on our consolidated financial statements and related disclosures. Leases (Topic 842). In February 2016, ASU 2016-02, Leases, was issued. This standard will require all lessees to recognize a right of use asset and a lease liability on the balance sheet, except for leases with durations that are less than twelve months. This standard is effective at the beginning of our 2019 fiscal year. We are currently evaluating whether the adoption of this new guidance will have a significant impact on our consolidated financial statements and related disclosures. Financial Instruments: Overall (Subtopic 825-10) - Recognition and Measurement of Financial Assets and Financial Liabilities. In January 2016, ASU 2016-01 was issued to address certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The ASU supersedes the guidance to classify equity securities with readily determinable fair values into different categories, and requires equity securities (except those that are accounted for under the equity method or those that result in consolidation of the investee) to be measured at fair value with changes in the fair value recognized through net income. It also simplifies the impairment assessment of equity investments without readily determinable fair values by requiring assessment for impairment qualitatively at each reporting period. This update is effective at the beginning of our 2018 fiscal year. We are currently evaluating whether the adoption of this new guidance will have a significant impact on our consolidated financial statements and disclosures. Revenue Recognition (Topic 606): Revenue from Contracts with Customers. In May 2014, ASU 2014-09 was issued. Under this ASU and subsequently issued amendments, an entity is required to recognize the amount of revenue it expects to be entitled to for the transfer of promised goods or services to customers. The updated standard will replace most existing revenue recognition guidance in U.S. GAAP. This ASU provides alternative methods of transition, a full retrospective and a modified restrospective approach. The modified retrospective approach would result in recognition of the cumulative impact of a retrospective application as of the beginning of the period of initial application, which in our case is the interim period beginning January 1, 2018. In preparation for adoption, we developed a cross-functional team and engaged a third-party service provider to assist us throughout our evaluation. In addition, we have factored the adoption into our ongoing ERP platform upgrade, which we previously committed to perform, as our system readiness is a key element towards the determination of the adoption approach we undertake. We have substantially completed our review of certain contracts for each of our revenue streams. Through this process, we are determining and documenting the associated revenue recognition policy, upon adoption of the ASU. We are also evaluating the potential internal control changes that will be required for adoption based on the findings from our contract review process. We continue to perform our assessment, and while those activities are not complete, we expect to identify similar performance obligations under ASC 606 as compared to those previously identified. Adoption of New Accounting Standards Derivatives and Hedging (Topic 815): Contingent Put and Call Options in Debt Instruments. In March 2016, ASU 2016-06 was issued. ASU 2016-06 clarifies the steps required to determine bifurcation of an embedded derivative. This update became effective at the beginning of our 2017 fiscal year. The adoption of this ASU did not have a significant impact on our consolidated financial statements and disclosures. Derivatives and Hedging (Topic 815): Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships. In March 2016, ASU 2016-05 was issued which clarifies the change in the counterparty to a derivative instrument that has been designated as a hedging instrument does not, in and of itself, require de-designation of that hedging relationship provided that all other hedge accounting criteria continue to be met. This update became effective at the beginning of our 2017 fiscal year. The adoption of this ASU did not have a significant impact on our consolidated financial statements and disclosures. Inventory (Topic 330): Simplifying the Measurement of Inventory.

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2017
Business Combinations [Abstract]
Acquisitions	Acquisitions 2017 Acquisitions During the first quarter of 2017 , we completed the acquisition of certain aviation fueling operations, in Italy, Germany, Australia and New Zealand, associated with the ExxonMobil transaction described below. We also completed two acquisitions during the first quarter of 2017 which were not material individually or in the aggregate. There were no acquisitions completed during the quarter ended June 30, 2017. The following table summarizes the aggregate consideration paid for acquisitions during the six months ended June 30, 2017 and the provisional amounts of the assets acquired and liabilities assumed, recognized at the acquisition date. The Company is in the process of finalizing the valuations of certain acquired assets and assumed liabilities; thus, the provisional measurements of these acquired assets and assumed liabilities are subject to change and will be finalized no later than one year from the acquisition date. Total Cash paid for acquisition of businesses $ 87.6 Non-monetary consideration 4.3 Estimated purchase price $ 91.9 Assets acquired: Property and equipment 11.2 Goodwill and identifiable intangible assets 79.4 Other current and long-term assets 8.0 Liabilities assumed: Long-term liabilities and deferred tax liabilities (6.7 ) Estimated purchase price $ 91.9 The goodwill assigned, of which $22.4 million is anticipated to be deductible for tax purposes, is attributable primarily to the expected synergies and other benefits that we believe will result from combining the acquired operations with the respective segment operations. The identifiable intangible assets consists of $40.1 million of customer relationships with weighted average lives of 6.9 years . The financial position, results of operations and cash flows of the 2017 acquisitions have been included in our consolidated financial statements since their respective acquisition dates and did not have a material impact on our revenue and net income for the three and six months ended June 30, 2017 . Accordingly, pro forma information for the 2017 acquisitions has not been provided as the impact is not material. 2016 Acquisitions In the first quarter of 2016, we signed a definitive agreement to acquire from certain ExxonMobil affiliates their aviation fueling operations at more than 80 airport locations in Canada, the United Kingdom ("U.K."), Germany, Italy, France, Australia and New Zealand. During 2016, we completed the acquisitions of the aviation fueling operations in Canada, the U.K. and France. On June 23, 2016, we acquired the remaining 49% of the outstanding equity interest of Tobras Distribuidora de Combustiveis Limitada (“Tobras”) from the minority owners for an aggregate purchase price of approximately $3.7 million in cash (the “Tobras Acquisition”). Prior to the Tobras Acquisition, we owned 51% of the outstanding shares of Tobras and exercised control, and as such, we consolidated Tobras in our financial statements. As a result of the acquisition of the remaining equity interest of Tobras, we recorded a $10.9 million adjustment to capital in excess of par value on our consolidated balance sheets, which consisted of $3.7 million of cash paid and $7.2 million of noncontrolling interest equity. During the first quarter of 2016 , we completed three acquisitions in our land segment which were not material individually or in the aggregate. The financial position, results of operations and cash flows of the 2016 acquisitions have been included in our consolidated financial statements, since their respective acquisition dates, and did not have a material impact on our revenue and net income for the three and six months ended June 30, 2016 . Assets and Liabilities Held for Sale On May 1, 2016, we completed the sale of Pester Marketing Company's ("Pester") retail business for $32.3 million , resulting in a gain of $3.8 million , which is included in other income, net in the consolidated statements of income and comprehensive income for the three and six months ended June 30, 2016

Derivatives

Derivatives	6 Months Ended
	Jun. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	Derivatives We enter into financial derivative contracts in order to mitigate the risk of market price fluctuations in aviation, land and marine fuel, to offer our customers fuel pricing alternatives to meet their needs and to mitigate the risk of fluctuations in foreign currency exchange rates. We also enter into proprietary derivative transactions, primarily intended to capitalize on arbitrage opportunities in basis or time spreads related to fuel products we sell. We have applied the normal purchase and normal sales exception (“NPNS”), as provided by accounting guidance for derivative instruments and hedging activities, to certain of our physical forward sales and purchase contracts. While these contracts are considered derivative instruments under the guidance for derivative instruments and hedging activities, they are not recorded at fair value, but rather are recorded in our consolidated financial statements when physical settlement of the contract occurs. If it is determined that a transaction designated as NPNS no longer qualifies for this classification, the fair value of the related contract is recorded as an asset or liability on the consolidated balance sheets and the difference between the fair value and the contract amount is immediately recognized through earnings. The following describes our derivative classifications: Cash Flow Hedges. Includes certain derivative contracts we execute to mitigate the risk of price volatility in forecasted transactions. Fair Value Hedges. Includes derivative contracts we hold to hedge the risk of changes in the price of our inventory. Non-designated Derivatives. Includes derivatives we primarily transact to mitigate the risk of market price fluctuations in the form of swaps or futures as well as certain forward fixed price purchase and sale contracts and proprietary trading. The following table presents the gross fair value of our derivative instruments and their locations on the consolidated balance sheets (in millions): Gross Derivative Assets Gross Derivative Liabilities As of As of June 30, 2017 December 31, 2016 June 30, 2017 December 31, 2016 Derivative Instruments Balance Sheet Location Derivatives designated as hedging instruments Commodity contracts Short-term derivative assets, net $ 73.0 $ 2.2 $ 63.5 $ 5.4 Accrued expenses and other current liabilities 0.2 86.0 1.0 93.5 Other long-term liabilities — 5.1 — 10.1 Total derivatives designated as hedging instruments $ 73.3 $ 93.3 $ 64.5 $ 108.9 Derivatives not designated as hedging instruments Commodity contracts Short-term derivative assets, net $ 79.4 $ 160.3 $ 43.9 $ 86.7 Identifiable intangible and other non-current assets 20.7 17.1 10.6 6.2 Accrued expenses and other current liabilities 55.0 52.5 71.2 112.2 Other long-term liabilities 4.9 8.1 8.6 12.1 $ 160.0 $ 238.0 $ 134.3 $ 217.2 Foreign currency contracts Short-term derivative assets, net $ 1.7 $ 13.5 $ 1.0 $ 3.4 Identifiable intangible and other non-current assets — 0.9 — 0.1 Accrued expenses and other current liabilities 8.1 1.6 12.8 2.8 Other long-term liabilities — — 0.1 — $ 9.9 $ 16.0 $ 14.0 $ 6.4 Total derivatives not designated as hedging instruments $ 169.9 $ 253.9 $ 148.3 $ 223.6 Total derivatives $ 243.2 $ 347.2 $ 212.8 $ 332.5 For information regarding our derivative instruments measured at fair value after netting and collateral see Note 4. The following table summarizes the gross notional values of our commodity and foreign currency exchange derivative contracts used for risk management purposes that were outstanding as of June 30, 2017 (in millions): As of June 30, Derivative Instruments Units 2017 Commodity contracts Buy / Long BBL 78.3 Sell / Short BBL (83.7 ) Foreign currency exchange contracts Sell U.S. dollar, buy other currencies USD (287.9 ) Buy U.S. dollar, sell other currencies USD 424.3 The following table presents the effect and financial statement location of our derivative instruments and related hedged items in fair value hedging relationships on our consolidated statements of income and comprehensive income (in millions): Realized and Unrealized Gain (Loss) For the Three Months Ended Realized and Unrealized Gain (Loss) For the Three Months Ended June 30, June 30, Derivative Instruments Location 2017 2016 Hedged Items Location 2017 2016 Commodity contracts Inventories Cost of revenue 1.4 (34.2 ) Cost of revenue 1.5 13.9 Total Gain (Loss) $ 1.4 $ (34.2 ) Total Gain (Loss) $ 1.5 $ 13.9 Realized and Unrealized Gain (Loss) For the Six Months Ended Realized and Unrealized Gain (Loss) For the Six Months Ended June 30, June 30, Derivative Instruments Location 2017 2016 Hedged Items Location 2017 2016 Commodity contracts Inventories Cost of revenue 6.7 (30.8 ) Cost of revenue (2.0 ) 10.7 Total Gain (Loss) $ 6.7 $ (30.8 ) Total Gain (Loss) $ (2.0 ) $ 10.7 The net gains or losses recognized in income for the three months ended June 30, 2017 and 2016 , representing hedge ineffectiveness were $2.9 million , and $20.3 million , respectively. For the six months ended June 30, 2017 and 2016 , the amounts of gains or losses representing hedge ineffectiveness were $4.6 million , and $20.1 million , respectively. There were no amounts for the three and six months ended June 30, 2017 and 2016 , that were excluded from the assessment of the effectiveness of our fair value hedges. The following table presents the effect and financial statement location of our derivative instruments in cash flow hedging relationships on our accumulated other comprehensive income, consolidated statements of income and comprehensive income (in millions): Amount of Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Effective Portion) For the Three Months Ended Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income (Effective Portion) For the Three Months Ended June 30, June 30, Derivative Instruments 2017 2016 Location 2017 2016 Commodity contracts $ 49.3 $ (70.0 ) Revenue $ 15.9 $ 5.4 Commodity contracts (43.9 ) 68.7 Cost of Revenue (10.6 ) 1.1 Total Gain (Loss) $ 5.4 $ (1.3 ) Total Gain (Loss) $ 5.4 $ 6.5 Amount of Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Effective Portion) For the Six Months Ended Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income (Effective Portion) For the Six Months Ended June 30, June 30, Derivative Instruments 2017 2016 Location 2017 2016 Commodity contracts $ 106.4 $ (116.5 ) Revenue $ 5.8 $ (48.4 ) Commodity contracts (93.9 ) 112.9 Cost of Revenue (3.8 ) 55.5 Total Gain (Loss) $ 12.5 $ (3.6 ) Total Gain (Loss) $ 2.0 $ 7.1 Amount of Gain (Loss) Recognized in Income (Ineffective Portion and Amount Excluded from Effectiveness Testing) For the Three Months Ended June 30, Location 2017 2016 Revenue $ (7.9 ) $ (15.0 ) Cost of Revenue 2.1 9.9 Total Gain (Loss) $ (5.7 ) $ (5.0 ) Amount of Gain (Loss) Recognized in Income (Ineffective Portion and Amount Excluded from Effectiveness Testing) For the Six Months Ended June 30, Location 2017 2016 Revenue $ 10.3 $ (15.1 ) Cost of Revenue (18.1 ) 12.8 Total Gain (Loss) $ (7.8 ) $ (2.3 ) The effective portion of the gains or losses on derivative instruments designated as cash flow hedges of forecasted transactions are initially reported as a component of accumulated other comprehensive income and subsequently reclassified into earnings once the future transactions affects earnings. The following table presents the effect and financial statement location of our derivative instruments not designated as hedging instruments on our consolidated statements of income and comprehensive income (in millions): Amount of Realized and Unrealized Gain (Loss) For the Three Months Ended June 30, Derivative Instruments - Non-designated Location 2017 2016 Commodity contracts Revenue $ 19.1 $ (5.5 ) Cost of revenue 2.6 8.8 $ 21.7 $ 3.3 Foreign currency contracts Revenue $ (1.6 ) $ 4.5 Other (expense), income, net (4.8 ) (0.4 ) $ (6.5 ) $ 4.1 Total Gain (Loss) $ 15.2 $ 7.4 Amount of Realized and Unrealized Gain (Loss) For the Six Months Ended June 30, Derivative Instruments - Non-designated Location 2017 2016 Commodity contracts Revenue $ 68.2 $ 33.4 Cost of revenue (36.2 ) (38.7 ) $ 32.1 $ (5.3 ) Foreign currency contracts Revenue $ (2.1 ) $ 6.5 Other (expense), income, net (6.4 ) (5.6 ) $ (8.5 ) $ 0.9 Total Gain (Loss) $ 23.6 $ (4.4 ) Credit-Risk-Related Contingent Features We enter into derivative instrument contracts which may require us to periodically provide collateral. Certain derivative contracts contain credit-risk-related contingent clauses which are triggered by credit events. These credit events may include the requirement to provide additional collateral or the immediate settlement of the derivative instruments upon the occurrence of a credit downgrade or if certain defined financial ratios fall below an established threshold. The following table presents the potential collateral requirements for derivative liabilities with credit-risk-contingent features (in millions): Potential Collateral Requirements for Derivative Liabilities with Credit-Risk-Contingent Features As of June 30, 2017 As of December 31, 2016 Net derivatives liability positions with credit contingent features $ 4.8 $ 15.2 Maximum potential collateral requirements $ 4.8 $ 15.2 At June 30, 2017 and December 31, 2016 , there was no

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The carrying amounts of cash and cash equivalents, accounts receivable, net, accounts payable and accrued expenses and other current liabilities approximate fair value based on the short-term maturities of these instruments. The carrying values of our debt and notes receivables approximate fair value since these instruments bear interest either at variable rates or fixed rates which are not significantly different than market rates. Based on the fair value hierarchy, our debt of $1.1 billion and $1.2 billion as of June 30, 2017 and December 31, 2016 , respectively, and our notes receivable of $29.9 million and $16.9 million as of June 30, 2017 and December 31, 2016 , respectively, are categorized in Level 3. The following table presents information about our gross assets and liabilities that are measured at fair value on a recurring basis (in millions): Fair Value measurements as of June 30, 2017 Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Fair Value Assets: Commodities contracts $ 168.0 $ 62.0 $ 3.3 $ 233.3 Foreign currency contracts — 9.9 — 9.9 Cash surrender value of life insurance — 5.1 — 5.1 Total assets at fair value $ 168.0 $ 77.0 $ 3.3 $ 248.3 Liabilities: Commodities contracts $ 163.0 $ 35.7 $ 0.1 $ 198.8 Foreign currency contracts — 14.0 — 14.0 Total liabilities at fair value $ 163.0 $ 49.6 $ 0.1 $ 212.8 Fair Value measurements as of December 31, 2016 Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Fair Value Assets: Commodities contracts $ 273.6 $ 55.3 $ 2.3 $ 331.2 Foreign currency contracts — 16.0 — 16.0 Cash surrender value of life insurance — 4.0 — 4.0 Total assets at fair value $ 273.6 $ 75.3 $ 2.3 $ 351.2 Liabilities: Commodities contracts $ 236.6 $ 88.8 $ 0.7 $ 326.1 Foreign currency contracts — 6.4 — 6.4 Total liabilities at fair value $ 236.6 $ 95.2 $ 0.7 $ 332.5 There were no transfers between Level 1 and Level 2 during the periods presented. The fair values of our commodity contracts measured using Level 3 inputs were not material at June 30, 2017 and December 31, 2016 , respectively. For our derivative contracts, we may enter into master netting, collateral and offset agreements with counterparties. These agreements provide us the ability to offset a counterparty’s rights and obligations, request additional collateral when necessary or liquidate the collateral in the event of counterparty default. We net fair value of cash collateral paid or received against fair value amounts recognized for net derivative positions executed with the same counterparty under the same master netting or offset agreement. The following tables summarize those commodity derivative balances subject to the right of offset as presented on our consolidated balance sheet. We have elected to offset the recognized fair value amounts for multiple derivative instruments executed with the same counterparty in our financial statements when a legal right of offset exists. Fair Value as of June 30, 2017 Gross Amounts Gross Amounts Gross Amounts Net Amounts Cash without Recognized Offset Presented Collateral Right of Offset Net Amounts Assets: Commodities contracts $ 233.3 $ 179.8 $ 53.5 $ 0.7 $ — $ 52.8 Foreign currency contracts 9.9 9.1 0.8 — — 0.8 Total assets at fair value $ 243.2 $ 189.0 $ 54.2 $ 0.7 $ — $ 53.5 Liabilities: Commodities contracts $ 198.8 $ 179.8 $ 19.0 $ 1.6 $ — $ 17.4 Foreign currency contracts 14.0 9.1 4.8 — — 4.8 Total liabilities at fair value $ 212.8 $ 189.0 $ 23.8 $ 1.6 $ — $ 22.2 Fair Value as of December 31, 2016 Gross Amounts Gross Amounts Gross Amounts Net Amounts Cash without Recognized Offset Presented Collateral Right of Offset Net Amounts Assets: Commodities contracts $ 331.2 $ 249.7 $ 81.5 $ 27.1 $ — $ 54.5 Foreign currency contracts 16.0 5.1 10.9 — — 10.9 Total assets at fair value $ 347.2 $ 254.8 $ 92.4 $ 27.1 $ — $ 65.3 Liabilities: Commodities contracts $ 326.1 $ 249.7 $ 76.5 $ 2.0 $ — $ 74.5 Foreign currency contracts 6.4 5.1 1.2 — — 1.2 Total liabilities at fair value $ 332.5 $ 254.8 $ 77.7 $ 2.0 $ — $ 75.7 At June 30, 2017 and December 31, 2016

Debt, Interest Income, Expense

Debt, Interest Income, Expense and Other Finance Costs	6 Months Ended
	Jun. 30, 2017
Debt, Interest Income, Expense and Other Finance Costs [Abstract]
Debt, Interest Income, Expense and Other Finance Costs	Debt, Interest Income, Expense and Other Finance Costs Our debt consisted of the following (in millions): As of June 30, December 31, 2017 2016 Credit Facility $ 210.0 $ 325.2 Term Loans 840.0 840.0 Capital leases 11.6 12.6 Other 6.2 8.5 Total debt $ 1,067.8 $ 1,186.3 Short-term debt $ 21.7 $ 15.4 Long-term debt $ 1,046.1 $ 1,170.8 The following table provides additional information about our interest income (expense), and other financing costs, net, for the periods presented (in millions): For the Three Months Ended For the Six Months Ended June 30, June 30, 2017 2016 2017 2016 Interest income $ 1.7 $ 1.5 $ 2.7 $ 2.8 Interest expense and other financing costs (15.5 ) (9.6 ) (29.2 ) (18.5 ) $ (13.8 ) $ (8.1 ) $ (26.5 ) $ (15.7 )

Shareholders' Equity

Shareholders' Equity	6 Months Ended
	Jun. 30, 2017
Equity [Abstract]
Shareholders' Equity	Shareholders’ Equity Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Loss Our other comprehensive loss, consisting of foreign currency translation adjustments related to our subsidiaries that have a functional currency other than the U.S. dollar and derivative instruments, was as follows (in millions): Foreign Currency Translation Adjustments Derivative Instruments Accumulated Other Comprehensive Loss Balance as of December 31, 2016 $ (147.5 ) $ (7.4 ) $ (154.8 ) Other comprehensive income 17.6 10.5 28.1 Less: Net other comprehensive (loss) attributable to noncontrolling interest (1.1 ) — (1.1 ) Balance as of June 30, 2017 $ (130.9 ) $ 3.1 $ (127.8 ) Balance as of December 31, 2015 $ (108.7 ) $ (0.8 ) $ (109.5 ) Other comprehensive (loss) income (13.2 ) 5.0 (8.3 ) Less: Net other comprehensive income attributable to noncontrolling interest 0.8 — 0.8 Balance as of June 30, 2016 $ (122.7 ) $ 4.2 $ (118.6 ) The foreign currency translation adjustment gains for the six months ended June 30, 2017 were primarily due to the weakening of the U.S. dollar as compared to the British Pound. The foreign currency translation adjustment losses for the six months ended June 30, 2016

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes U.S. and foreign income before income taxes consist of the following (in millions): For the Three Months Ended For the Six Months Ended June 30, June 30, 2017 2016 2017 2016 United States $ (4.8 ) $ (20.8 ) $ (18.5 ) $ (25.5 ) Foreign 39.6 57.6 89.4 117.2 $ 34.9 $ 36.9 $ 70.9 $ 91.6 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. We have recorded deferred tax assets for gross temporary differences where our tax basis exceeds our book basis, and we also have net operating loss deferred tax assets, primarily in the Unites States. We have also recorded deferred tax liabilities for gross temporary differences where our book basis exceeds our tax basis. 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 carrying value of the Company’s 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 deferred tax asset 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 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. Our income tax provision for the periods presented and the respective effective income tax rates for such periods are as follows (in millions, except for income tax rates): For the Three Months Ended For the Six Months Ended June 30, June 30, 2017 2016 2017 2016 Income tax provision $ 4.6 $ 7.1 $ 9.6 $ 10.3 Effective income tax rate 13.2 % 19.4 % 13.5 % 11.2 % Our provision for income taxes for the three months ended June 30, 2017 was adjusted for an income tax expense of $2.7 million , net, for discrete items related to changes in estimates in uncertain tax positions. Without the $2.7 million adjustment, the three month period ended June 30, 2017 effective income tax rate would have been 5.4% . The actual effective income tax rate for the full 2017 fiscal year may be materially different as a result of differences between estimated versus actual results and the geographic tax jurisdictions in which the results are earned. Our provision for income taxes for each of the six -month periods ended June 30, 2017 and 2016 was calculated based on the estimated annual effective income tax rate for the full 2017 and 2016 fiscal years. Our provision for income taxes for the six months ended June 30, 2017 was adjusted for an income tax expense of $3.9 million , net, for discrete items related to changes in estimates in uncertain tax positions and an adjustment for stock based compensation in accordance with ASU 2016-09. Without the $3.9 million expense, the six month period ended June 30, 2017 effective income tax rate would have been 8.1% . We operate under a special income tax concession in Singapore which began January 1, 2008. Our current 5 year special income tax concession was effective January 1, 2013. The special income tax concession is conditional upon our meeting of certain employment and investment thresholds which, if not met in accordance with our agreement, may eliminate the benefit beginning with the first year in which the conditions are not satisfied. The income tax concession reduces the income tax rate on qualified sales and the impact of this income tax concession decreased foreign income taxes by $0.5 million and $1.2 million for the three months ended June 30, 2017 and 2016 , respectively, and by $1.3 million and $1.8 million for the six months ended June 30, 2017 and 2016, respectively. The impact of the income tax concession on basic earnings per common share was $0.01 and $0.02 for the three months ended June 30, 2017 and 2016 , respectively, and $0.02 and $0.03 for the six months ended June 30, 2017 and 2016, respectively. On a diluted earnings per common share basis, the impact was $0.01 and $0.02 for the three months ended June 30, 2017 and 2016 , respectively, and $0.02 and $0.03 for the six months ended June 30, 2017 and 2016, respectively. During the second quarter of 2017, we signed an agreement with the Internal Revenue Service (IRS) which effectively closed the income tax audit for the tax years 2011 and 2012. The matter had already been provided for within our reserve estimates. The South Korea branch of one of our subsidiaries has received an income tax assessment notice for the years 2011 - 2014 totaling $8.2 million (KRW 9.2 billion

Goodwill

Goodwill	6 Months Ended
	Jun. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill The following table provides the components of and changes in the carrying amount of goodwill (in millions): Aviation Land Marine Total Balance as of December 31, 2016 $ 266.8 $ 496.7 $ 72.3 $ 835.8 Additions 39.3 — — 39.3 Foreign exchange and other adjustments 6.8 6.1 (0.1 ) 12.8 Balance as of June 30, 2017 $ 312.9 $ 502.7 $ 72.2 $ 887.9

Earnings per Common Share

Earnings per Common Share	6 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
Earnings per Common Share	Earnings per Common Share The following table sets forth the computation of basic and diluted earnings per common share for the periods presented (in millions, except per share amounts): For the Three Months Ended For the Six Months Ended June 30, June 30, 2017 2016 2017 2016 Numerator: Net income attributable to World Fuel $ 30.0 $ 30.0 $ 61.4 $ 81.6 Denominator: Weighted average common shares for basic earnings per common share 68.4 69.5 68.5 69.5 Effect of dilutive securities 0.3 0.5 0.4 0.5 Weighted average common shares for diluted earnings per common share 68.7 70.0 68.9 70.0 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 1.9 1.1 1.3 1.2 Basic earnings per common share $ 0.44 $ 0.43 $ 0.90 $ 1.17 Diluted earnings per common share $ 0.44 $ 0.43 $ 0.89 $ 1.17

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Tax Matters From time to time, we are under review by various domestic and foreign tax authorities with regards to indirect tax matters and are involved in various challenges and litigation in a number of countries, including, in particular, Brazil and South Korea, where the amounts under controversy may be significant. During the quarter ended December 31, 2016, the Korean branch (“WFSK”) of one of our subsidiaries received assessments of approximately $10.6 million (KRW 11.9 billion ) and during the quarter ended June 30, 2017, an assessment for an additional $17.9 million (KRW 20.1 billion ) from the regional tax authorities of Seoul, South Korea (“SRTO”). The assessments primarily consist of fines and penalties for allegedly failing to issue Value Added Tax ("VAT") invoices and report certain transactions during the period 2011-2014. These assessments do not involve failure to pay or collect VAT. We believe that these assessments are without merit and are currently appealing the actions. In addition to these assessments, in November 2016, the SRTO referred the case to the Seoul Central District Prosecutors Office (“SCDPO”) for investigation and determination as to whether the alleged invoicing and reporting violations should be subject to criminal action under Korean law. On March 30, 2017, the SCDPO issued a decision not to bring a criminal action against us and the time for the SRTO to appeal the decision has expired. We are also involved in a number of tax disputes with federal, state and municipal tax authorities in Brazil, relating primarily to VAT (ICMS) tax matters. These disputes are at various stages of the legal process, including the administrative review phase and the collection action phase, and include assessments of fixed amounts of principal and penalties, plus interest. When we deem it appropriate and the amounts are reasonably estimable, we establish reserves for potential adjustments to our provision for the accrual of indirect taxes that may result from examinations or other actions by tax authorities. If events occur which indicate payment of these amounts is unnecessary, the reversal of the liabilities would result in the recognition of benefits in the period we determine the liabilities are no longer necessary. If our estimates of any of our federal, state, and foreign indirect tax liabilities are less than the ultimate assessment, it could result in a further charge to expense. Except with respect to the matters described above, we believe that the final outcome of any pending examinations, agreements, administrative or judicial proceedings will not have a material effect on our results of operations or cash flows. Other Matters On August 31, 2016, Hanjin Shipping Co., Ltd. (“Hanjin”), one of our customers in our marine segment, filed for bankruptcy protection in South Korea and on September 1, 2016, the Korean Rehabilitation Court accepted Hanjin’s application for rehabilitation. On February 17, 2017, the Korean Rehabilitation Court formally adjudicated the liquidation of Hanjin. As of June 30, 2017, we had outstanding Hanjin receivables of approximately $2.8 million , net of anticipated insurance recoveries of approximately $3.9 million . While we believe we will recover all or substantially all of the outstanding Hanjin and insurance receivables, there can be no assurance that we will be able to recover all of the remaining amounts. 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 administrative claims. We have established loss provisions for these ordinary course claims as well as other matters in which losses are probable and can be reasonably estimated. As of June 30, 2017 , we had recorded certain reserves which were not material. For those matters where a reserve has not been established and for which we believe a loss is reasonably possible, as well as for matters where a reserve has been recorded but for which an exposure to loss in excess of the amount accrued is reasonably possible, we believe that such losses will not have a material adverse effect on our consolidated financial statements. However, any adverse resolution of one or more such claims, complaints or proceedings during a particular period could have a material adverse effect on our consolidated financial statements or disclosures for that period.

Business Segments

Business Segments	6 Months Ended
	Jun. 30, 2017
Segment Reporting [Abstract]
Business Segments	Business Segments We operate in three reportable segments consisting of aviation, land and marine. Corporate expenses are allocated to the segments based on usage, where possible, or on other factors according to the nature of the activity. Our operating segments are determined based on the different markets in which we provide products and services, which are defined primarily by the customers and the products and services provided to those customers. Accordingly, our aviation, land and marine segments are organized based on the specific markets their functional business components serve, which are primarily businesses and governmental customers operating in those respective markets In our aviation segment, we offer fuel and related products and services to major commercial airlines, second and third tier airlines, cargo carriers, regional and low cost carriers, airports, fixed based operators, corporate fleets, fractional operators, private aircraft, military fleets and the U.S. and foreign governments as well as intergovernmental organizations. In our land segment, we offer fuel, lubricants, power and natural gas solutions through Kinect, our global energy management services platform, and related products and services to customers including petroleum distributors operating in the land transportation market, retail petroleum operators, and industrial, commercial, residential and government customers. Our marine segment product and service offerings include fuel, lubricants and related products and services to a broad base of customers, including international container and tanker fleets, commercial cruise lines, yachts and time charter operators, offshore rig owners and operators, the U.S. and foreign governments as well as other fuel suppliers. Within each of our segments we may enter into derivative contracts to mitigate the risk of market price fluctuations and also to offer our customers fuel pricing alternatives to meet their needs. Information concerning our revenue, gross profit and income from operations by segment is as follows (in millions): For the Three Months Ended For the Six Months Ended June 30, June 30, Revenue: 2017 2016 2017 2016 Aviation segment $ 3,508.4 $ 2,621.6 $ 6,825.8 $ 4,841.0 Land segment 2,564.0 2,171.0 5,347.4 3,866.0 Marine segment 2,013.8 1,840.4 4,107.3 3,116.9 $ 8,086.2 $ 6,633.0 $ 16,280.4 $ 11,823.9 Gross profit: Aviation segment $ 110.9 $ 98.6 $ 210.8 $ 187.3 Land segment 87.2 80.2 185.0 173.9 Marine segment 32.9 39.7 66.6 78.8 $ 231.0 $ 218.5 $ 462.4 $ 440.0 Income from operations: Aviation segment $ 49.7 $ 37.2 $ 90.2 $ 71.2 Land segment 12.2 16.2 33.6 50.1 Marine segment 7.2 11.0 15.5 22.5 69.2 64.4 139.3 143.8 Corporate overhead - unallocated (17.9 ) (18.8 ) (37.7 ) (37.2 ) $ 51.2 $ 45.6 $ 101.6 $ 106.6 Information concerning our accounts receivable, net and total assets by segment is as follows (in millions): As of June 30, December 31, 2017 2016 Accounts receivable, net: Aviation segment, net of allowance for bad debt of $6.9 and $6.6 as of June 30, 2017 and December 31, 2016, respectively $ 786.0 $ 776.0 Land segment, net of allowance for bad debt of $9.2 and $8.2 as of June 30, 2017 and December 31, 2016, respectively 712.2 737.5 Marine segment, net of allowance for bad debt of $11.6 and $10.2 as of June 30, 2017 and December 31, 2016, respectively 743.3 830.5 $ 2,241.4 $ 2,344.0 Total assets: Aviation segment $ 2,049.4 $ 2,050.6 Land segment 1,913.8 1,928.5 Marine segment 1,169.7 1,287.7 Corporate 153.1 145.8 $ 5,286.0 $ 5,412.6

Basis of Presentation and Sig21

Basis of Presentation and Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	We prepared the consolidated financial statements following the requirements of the Unites States (“U.S.”) Securities and Exchange Commission (“SEC”) for interim reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by accounting principles generally accepted in the United States of America (“U.S. GAAP”) can be condensed or omitted. Unless the context requires otherwise, references to “World Fuel”, “the Company”, “we”, “us”, or “our” in this Quarterly Report on Form 10-Q (“10-Q Report”) refer to World Fuel Services Corporation and its subsidiaries.
Accounting Standards Issued but Not Yet Adopted and Adoption of New Accounting Standards	Accounting Standards Issued but Not Yet Adopted Earnings Per Share (Topic 260); Distinguishing Liabilities from Equity (Topic 480); Derivatives and Hedging (Topic 815). In July 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2017-11. The amendment changes the classification of certain equity-linked financial instruments (or embedded features) with down round features. The amendments also clarify existing disclosure requirements for equity-classified instruments. This standard is effective at the beginning of our 2019 fiscal year. We are currently evaluating whether the adoption of this new guidance will have a significant impact on our consolidated financial statements and related disclosures. Service Concession Arrangements (Topic 853): Determining the Customer of the Operation Services. In May 2017, ASU 2017-10 was issued. The amendments clarify that the grantor in a service concession arrangement is the customer of the operation services in all cases for those arrangements. This standard is effective at the beginning of our 2019 fiscal year. We are currently evaluating whether the adoption of this new guidance will have a significant impact on our consolidated financial statements and related disclosures. Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting. In May 2017, ASU 2017-09 was issued. The amendments provide guidance on determining which changes to the terms and conditions of share-based payment awards require an entity to apply modification accounting. This standard is effective at the beginning of our 2019 fiscal year. We are currently evaluating whether the adoption of this new guidance will have a significant impact on our consolidated financial statements and related disclosures. Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20): Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets. In February 2017, ASU 2017-05 was issued. The amendments in the update clarify a financial asset is within the scope of this guidance if it meets the definition of an in substance nonfinancial asset; this may include nonfinancial assets transferred within a legal entity to a counterparty. This standard is effective at the beginning of our 2018 fiscal year. We are currently evaluating whether the adoption of this new guidance will have a significant impact on our consolidated financial statements and related disclosures. Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment . In January 2017, ASU 2017-04 was issued. The update simplifies the subsequent measurement of goodwill by eliminating Step 2 from the goodwill impairment test. Under the amendment an entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. This standard is effective at the beginning of our 2020 fiscal year. We are currently evaluating whether the adoption of this new guidance will have a significant impact on our consolidated financial statements and related disclosures. Business Combinations (Topic 805): Clarifying the Definition of a Business. In January 2017, ASU 2017-01 was issued. The update clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of businesses. This standard is effective at the beginning of our 2018 fiscal year. We are currently evaluating whether the adoption of this new guidance will have a significant impact on our consolidated financial statements and related disclosures. Cash Flows: Statement of Cash Flows (Topic 230): Restricted Cash. In November 2016, ASU 2016-18 was issued. The update requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. This standard is effective at the beginning of our 2018 fiscal year. We are currently evaluating whether the adoption of this new guidance will have a significant impact on our consolidated financial statements and related disclosures. Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other than Inventory. In October 2016, ASU 2016-16 was issued. The update prohibits the recognition of current and deferred income taxes for an intra-entity asset transfer until the asset has been sold to an outside party. This standard is effective at the beginning of our 2018 fiscal year. We are currently evaluating whether the adoption of this new guidance will have a significant impact on our consolidated financial statements and related disclosures. Cash Flows: Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. In August 2016 ASU 2016-15 was issued. The ASU provides guidance on classification of eight specific cash flows items. This standard is effective at the beginning of our 2018 fiscal year. We are currently evaluating whether the adoption of this new guidance will have a significant impact on our consolidated financial statements and related disclosures. Leases (Topic 842). In February 2016, ASU 2016-02, Leases, was issued. This standard will require all lessees to recognize a right of use asset and a lease liability on the balance sheet, except for leases with durations that are less than twelve months. This standard is effective at the beginning of our 2019 fiscal year. We are currently evaluating whether the adoption of this new guidance will have a significant impact on our consolidated financial statements and related disclosures. Financial Instruments: Overall (Subtopic 825-10) - Recognition and Measurement of Financial Assets and Financial Liabilities. In January 2016, ASU 2016-01 was issued to address certain aspects of recognition, measurement, presentation, and disclosure of financial instruments. The ASU supersedes the guidance to classify equity securities with readily determinable fair values into different categories, and requires equity securities (except those that are accounted for under the equity method or those that result in consolidation of the investee) to be measured at fair value with changes in the fair value recognized through net income. It also simplifies the impairment assessment of equity investments without readily determinable fair values by requiring assessment for impairment qualitatively at each reporting period. This update is effective at the beginning of our 2018 fiscal year. We are currently evaluating whether the adoption of this new guidance will have a significant impact on our consolidated financial statements and disclosures. Revenue Recognition (Topic 606): Revenue from Contracts with Customers. In May 2014, ASU 2014-09 was issued. Under this ASU and subsequently issued amendments, an entity is required to recognize the amount of revenue it expects to be entitled to for the transfer of promised goods or services to customers. The updated standard will replace most existing revenue recognition guidance in U.S. GAAP. This ASU provides alternative methods of transition, a full retrospective and a modified restrospective approach. The modified retrospective approach would result in recognition of the cumulative impact of a retrospective application as of the beginning of the period of initial application, which in our case is the interim period beginning January 1, 2018. In preparation for adoption, we developed a cross-functional team and engaged a third-party service provider to assist us throughout our evaluation. In addition, we have factored the adoption into our ongoing ERP platform upgrade, which we previously committed to perform, as our system readiness is a key element towards the determination of the adoption approach we undertake. We have substantially completed our review of certain contracts for each of our revenue streams. Through this process, we are determining and documenting the associated revenue recognition policy, upon adoption of the ASU. We are also evaluating the potential internal control changes that will be required for adoption based on the findings from our contract review process. We continue to perform our assessment, and while those activities are not complete, we expect to identify similar performance obligations under ASC 606 as compared to those previously identified. Adoption of New Accounting Standards Derivatives and Hedging (Topic 815): Contingent Put and Call Options in Debt Instruments. In March 2016, ASU 2016-06 was issued. ASU 2016-06 clarifies the steps required to determine bifurcation of an embedded derivative. This update became effective at the beginning of our 2017 fiscal year. The adoption of this ASU did not have a significant impact on our consolidated financial statements and disclosures. Derivatives and Hedging (Topic 815): Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships. In March 2016, ASU 2016-05 was issued which clarifies the change in the counterparty to a derivative instrument that has been designated as a hedging instrument does not, in and of itself, require de-designation of that hedging relationship provided that all other hedge accounting criteria continue to be met. This update became effective at the beginning of our 2017 fiscal year. The adoption of this ASU did not have a significant impact on our consolidated financial statements and disclosures. Inventory (Topic 330): Simplifying the Measurement of Inventory.

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2017
Business Combinations [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the aggregate consideration paid for acquisitions during the six months ended June 30, 2017 and the provisional amounts of the assets acquired and liabilities assumed, recognized at the acquisition date. The Company is in the process of finalizing the valuations of certain acquired assets and assumed liabilities; thus, the provisional measurements of these acquired assets and assumed liabilities are subject to change and will be finalized no later than one year from the acquisition date. Total Cash paid for acquisition of businesses $ 87.6 Non-monetary consideration 4.3 Estimated purchase price $ 91.9 Assets acquired: Property and equipment 11.2 Goodwill and identifiable intangible assets 79.4 Other current and long-term assets 8.0 Liabilities assumed: Long-term liabilities and deferred tax liabilities (6.7 ) Estimated purchase price $ 91.9

Derivatives (Tables)

Derivatives (Tables)	6 Months Ended
	Jun. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of derivative instruments measured at fair value and their locations on the consolidated balance sheets	The following table presents the gross fair value of our derivative instruments and their locations on the consolidated balance sheets (in millions): Gross Derivative Assets Gross Derivative Liabilities As of As of June 30, 2017 December 31, 2016 June 30, 2017 December 31, 2016 Derivative Instruments Balance Sheet Location Derivatives designated as hedging instruments Commodity contracts Short-term derivative assets, net $ 73.0 $ 2.2 $ 63.5 $ 5.4 Accrued expenses and other current liabilities 0.2 86.0 1.0 93.5 Other long-term liabilities — 5.1 — 10.1 Total derivatives designated as hedging instruments $ 73.3 $ 93.3 $ 64.5 $ 108.9 Derivatives not designated as hedging instruments Commodity contracts Short-term derivative assets, net $ 79.4 $ 160.3 $ 43.9 $ 86.7 Identifiable intangible and other non-current assets 20.7 17.1 10.6 6.2 Accrued expenses and other current liabilities 55.0 52.5 71.2 112.2 Other long-term liabilities 4.9 8.1 8.6 12.1 $ 160.0 $ 238.0 $ 134.3 $ 217.2 Foreign currency contracts Short-term derivative assets, net $ 1.7 $ 13.5 $ 1.0 $ 3.4 Identifiable intangible and other non-current assets — 0.9 — 0.1 Accrued expenses and other current liabilities 8.1 1.6 12.8 2.8 Other long-term liabilities — — 0.1 — $ 9.9 $ 16.0 $ 14.0 $ 6.4 Total derivatives not designated as hedging instruments $ 169.9 $ 253.9 $ 148.3 $ 223.6 Total derivatives $ 243.2 $ 347.2 $ 212.8 $ 332.5
Schedule of fair value positions of derivative instruments	The following table summarizes the gross notional values of our commodity and foreign currency exchange derivative contracts used for risk management purposes that were outstanding as of June 30, 2017 (in millions): As of June 30, Derivative Instruments Units 2017 Commodity contracts Buy / Long BBL 78.3 Sell / Short BBL (83.7 ) Foreign currency exchange contracts Sell U.S. dollar, buy other currencies USD (287.9 ) Buy U.S. dollar, sell other currencies USD 424.3
Impact of derivatives designated as fair value hedges on the consolidated statements of income and comprehensive income	The following table presents the effect and financial statement location of our derivative instruments and related hedged items in fair value hedging relationships on our consolidated statements of income and comprehensive income (in millions): Realized and Unrealized Gain (Loss) For the Three Months Ended Realized and Unrealized Gain (Loss) For the Three Months Ended June 30, June 30, Derivative Instruments Location 2017 2016 Hedged Items Location 2017 2016 Commodity contracts Inventories Cost of revenue 1.4 (34.2 ) Cost of revenue 1.5 13.9 Total Gain (Loss) $ 1.4 $ (34.2 ) Total Gain (Loss) $ 1.5 $ 13.9 Realized and Unrealized Gain (Loss) For the Six Months Ended Realized and Unrealized Gain (Loss) For the Six Months Ended June 30, June 30, Derivative Instruments Location 2017 2016 Hedged Items Location 2017 2016 Commodity contracts Inventories Cost of revenue 6.7 (30.8 ) Cost of revenue (2.0 ) 10.7 Total Gain (Loss) $ 6.7 $ (30.8 ) Total Gain (Loss) $ (2.0 ) $ 10.7
Impact of derivatives designated as hedges on the accumulated other comprehensive income and consolidated statements of income and comprehensive income	The following table presents the effect and financial statement location of our derivative instruments in cash flow hedging relationships on our accumulated other comprehensive income, consolidated statements of income and comprehensive income (in millions): Amount of Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Effective Portion) For the Three Months Ended Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income (Effective Portion) For the Three Months Ended June 30, June 30, Derivative Instruments 2017 2016 Location 2017 2016 Commodity contracts $ 49.3 $ (70.0 ) Revenue $ 15.9 $ 5.4 Commodity contracts (43.9 ) 68.7 Cost of Revenue (10.6 ) 1.1 Total Gain (Loss) $ 5.4 $ (1.3 ) Total Gain (Loss) $ 5.4 $ 6.5 Amount of Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Effective Portion) For the Six Months Ended Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income (Effective Portion) For the Six Months Ended June 30, June 30, Derivative Instruments 2017 2016 Location 2017 2016 Commodity contracts $ 106.4 $ (116.5 ) Revenue $ 5.8 $ (48.4 ) Commodity contracts (93.9 ) 112.9 Cost of Revenue (3.8 ) 55.5 Total Gain (Loss) $ 12.5 $ (3.6 ) Total Gain (Loss) $ 2.0 $ 7.1 Amount of Gain (Loss) Recognized in Income (Ineffective Portion and Amount Excluded from Effectiveness Testing) For the Three Months Ended June 30, Location 2017 2016 Revenue $ (7.9 ) $ (15.0 ) Cost of Revenue 2.1 9.9 Total Gain (Loss) $ (5.7 ) $ (5.0 ) Amount of Gain (Loss) Recognized in Income (Ineffective Portion and Amount Excluded from Effectiveness Testing) For the Six Months Ended June 30, Location 2017 2016 Revenue $ 10.3 $ (15.1 ) Cost of Revenue (18.1 ) 12.8 Total Gain (Loss) $ (7.8 ) $ (2.3 )
Impact of derivatives not designated as hedges on the consolidated statements of income and comprehensive income	The following table presents the effect and financial statement location of our derivative instruments not designated as hedging instruments on our consolidated statements of income and comprehensive income (in millions): Amount of Realized and Unrealized Gain (Loss) For the Three Months Ended June 30, Derivative Instruments - Non-designated Location 2017 2016 Commodity contracts Revenue $ 19.1 $ (5.5 ) Cost of revenue 2.6 8.8 $ 21.7 $ 3.3 Foreign currency contracts Revenue $ (1.6 ) $ 4.5 Other (expense), income, net (4.8 ) (0.4 ) $ (6.5 ) $ 4.1 Total Gain (Loss) $ 15.2 $ 7.4 Amount of Realized and Unrealized Gain (Loss) For the Six Months Ended June 30, Derivative Instruments - Non-designated Location 2017 2016 Commodity contracts Revenue $ 68.2 $ 33.4 Cost of revenue (36.2 ) (38.7 ) $ 32.1 $ (5.3 ) Foreign currency contracts Revenue $ (2.1 ) $ 6.5 Other (expense), income, net (6.4 ) (5.6 ) $ (8.5 ) $ 0.9 Total Gain (Loss) $ 23.6 $ (4.4 )
Schedule of potential collateral requirements for derivative liabilities	The following table presents the potential collateral requirements for derivative liabilities with credit-risk-contingent features (in millions): Potential Collateral Requirements for Derivative Liabilities with Credit-Risk-Contingent Features As of June 30, 2017 As of December 31, 2016 Net derivatives liability positions with credit contingent features $ 4.8 $ 15.2 Maximum potential collateral requirements $ 4.8 $ 15.2

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2017
Fair Value Disclosures [Abstract]
Schedule of assets and liabilities measured at estimated fair value on a recurring basis	The following table presents information about our gross assets and liabilities that are measured at fair value on a recurring basis (in millions): Fair Value measurements as of June 30, 2017 Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Fair Value Assets: Commodities contracts $ 168.0 $ 62.0 $ 3.3 $ 233.3 Foreign currency contracts — 9.9 — 9.9 Cash surrender value of life insurance — 5.1 — 5.1 Total assets at fair value $ 168.0 $ 77.0 $ 3.3 $ 248.3 Liabilities: Commodities contracts $ 163.0 $ 35.7 $ 0.1 $ 198.8 Foreign currency contracts — 14.0 — 14.0 Total liabilities at fair value $ 163.0 $ 49.6 $ 0.1 $ 212.8 Fair Value measurements as of December 31, 2016 Level 1 Inputs Level 2 Inputs Level 3 Inputs Total Fair Value Assets: Commodities contracts $ 273.6 $ 55.3 $ 2.3 $ 331.2 Foreign currency contracts — 16.0 — 16.0 Cash surrender value of life insurance — 4.0 — 4.0 Total assets at fair value $ 273.6 $ 75.3 $ 2.3 $ 351.2 Liabilities: Commodities contracts $ 236.6 $ 88.8 $ 0.7 $ 326.1 Foreign currency contracts — 6.4 — 6.4 Total liabilities at fair value $ 236.6 $ 95.2 $ 0.7 $ 332.5
Schedule of derivative instruments at fair value and their locations on the balance sheets	The following tables summarize those commodity derivative balances subject to the right of offset as presented on our consolidated balance sheet. We have elected to offset the recognized fair value amounts for multiple derivative instruments executed with the same counterparty in our financial statements when a legal right of offset exists. Fair Value as of June 30, 2017 Gross Amounts Gross Amounts Gross Amounts Net Amounts Cash without Recognized Offset Presented Collateral Right of Offset Net Amounts Assets: Commodities contracts $ 233.3 $ 179.8 $ 53.5 $ 0.7 $ — $ 52.8 Foreign currency contracts 9.9 9.1 0.8 — — 0.8 Total assets at fair value $ 243.2 $ 189.0 $ 54.2 $ 0.7 $ — $ 53.5 Liabilities: Commodities contracts $ 198.8 $ 179.8 $ 19.0 $ 1.6 $ — $ 17.4 Foreign currency contracts 14.0 9.1 4.8 — — 4.8 Total liabilities at fair value $ 212.8 $ 189.0 $ 23.8 $ 1.6 $ — $ 22.2 Fair Value as of December 31, 2016 Gross Amounts Gross Amounts Gross Amounts Net Amounts Cash without Recognized Offset Presented Collateral Right of Offset Net Amounts Assets: Commodities contracts $ 331.2 $ 249.7 $ 81.5 $ 27.1 $ — $ 54.5 Foreign currency contracts 16.0 5.1 10.9 — — 10.9 Total assets at fair value $ 347.2 $ 254.8 $ 92.4 $ 27.1 $ — $ 65.3 Liabilities: Commodities contracts $ 326.1 $ 249.7 $ 76.5 $ 2.0 $ — $ 74.5 Foreign currency contracts 6.4 5.1 1.2 — — 1.2 Total liabilities at fair value $ 332.5 $ 254.8 $ 77.7 $ 2.0 $ — $ 75.7

Debt, Interest Income, Expens25

Debt, Interest Income, Expense and Other Finance Costs (Tables)	6 Months Ended
	Jun. 30, 2017
Debt, Interest Income, Expense and Other Finance Costs [Abstract]
Schedule of debt	Our debt consisted of the following (in millions): As of June 30, December 31, 2017 2016 Credit Facility $ 210.0 $ 325.2 Term Loans 840.0 840.0 Capital leases 11.6 12.6 Other 6.2 8.5 Total debt $ 1,067.8 $ 1,186.3 Short-term debt $ 21.7 $ 15.4 Long-term debt $ 1,046.1 $ 1,170.8
Schedule of interest expense and other financing costs, net	The following table provides additional information about our interest income (expense), and other financing costs, net, for the periods presented (in millions): For the Three Months Ended For the Six Months Ended June 30, June 30, 2017 2016 2017 2016 Interest income $ 1.7 $ 1.5 $ 2.7 $ 2.8 Interest expense and other financing costs (15.5 ) (9.6 ) (29.2 ) (18.5 ) $ (13.8 ) $ (8.1 ) $ (26.5 ) $ (15.7 )

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2017
Equity [Abstract]
Schedule of components of other comprehensive income and accumulated other comprehensive loss	Our other comprehensive loss, consisting of foreign currency translation adjustments related to our subsidiaries that have a functional currency other than the U.S. dollar and derivative instruments, was as follows (in millions): Foreign Currency Translation Adjustments Derivative Instruments Accumulated Other Comprehensive Loss Balance as of December 31, 2016 $ (147.5 ) $ (7.4 ) $ (154.8 ) Other comprehensive income 17.6 10.5 28.1 Less: Net other comprehensive (loss) attributable to noncontrolling interest (1.1 ) — (1.1 ) Balance as of June 30, 2017 $ (130.9 ) $ 3.1 $ (127.8 ) Balance as of December 31, 2015 $ (108.7 ) $ (0.8 ) $ (109.5 ) Other comprehensive (loss) income (13.2 ) 5.0 (8.3 ) Less: Net other comprehensive income attributable to noncontrolling interest 0.8 — 0.8 Balance as of June 30, 2016 $ (122.7 ) $ 4.2 $ (118.6 )

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2017
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): For the Three Months Ended For the Six Months Ended June 30, June 30, 2017 2016 2017 2016 United States $ (4.8 ) $ (20.8 ) $ (18.5 ) $ (25.5 ) Foreign 39.6 57.6 89.4 117.2 $ 34.9 $ 36.9 $ 70.9 $ 91.6
Schedule of Income tax provision and the respective effective income tax rates	Our income tax provision for the periods presented and the respective effective income tax rates for such periods are as follows (in millions, except for income tax rates): For the Three Months Ended For the Six Months Ended June 30, June 30, 2017 2016 2017 2016 Income tax provision $ 4.6 $ 7.1 $ 9.6 $ 10.3 Effective income tax rate 13.2 % 19.4 % 13.5 % 11.2 %

Goodwill (Tables)

Goodwill (Tables)	6 Months Ended
	Jun. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of changes in goodwill	The following table provides the components of and changes in the carrying amount of goodwill (in millions): Aviation Land Marine Total Balance as of December 31, 2016 $ 266.8 $ 496.7 $ 72.3 $ 835.8 Additions 39.3 — — 39.3 Foreign exchange and other adjustments 6.8 6.1 (0.1 ) 12.8 Balance as of June 30, 2017 $ 312.9 $ 502.7 $ 72.2 $ 887.9

Earnings per Common Share (Tabl

Earnings per Common Share (Tables)	6 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
Computation of basic and diluted earnings per common share	The following table sets forth the computation of basic and diluted earnings per common share for the periods presented (in millions, except per share amounts): For the Three Months Ended For the Six Months Ended June 30, June 30, 2017 2016 2017 2016 Numerator: Net income attributable to World Fuel $ 30.0 $ 30.0 $ 61.4 $ 81.6 Denominator: Weighted average common shares for basic earnings per common share 68.4 69.5 68.5 69.5 Effect of dilutive securities 0.3 0.5 0.4 0.5 Weighted average common shares for diluted earnings per common share 68.7 70.0 68.9 70.0 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 1.9 1.1 1.3 1.2 Basic earnings per common share $ 0.44 $ 0.43 $ 0.90 $ 1.17 Diluted earnings per common share $ 0.44 $ 0.43 $ 0.89 $ 1.17

Business Segments (Tables)

Business Segments (Tables)	6 Months Ended
	Jun. 30, 2017
Segment Reporting [Abstract]
Schedule of revenue, gross profit and income from operations by segment	Information concerning our revenue, gross profit and income from operations by segment is as follows (in millions): For the Three Months Ended For the Six Months Ended June 30, June 30, Revenue: 2017 2016 2017 2016 Aviation segment $ 3,508.4 $ 2,621.6 $ 6,825.8 $ 4,841.0 Land segment 2,564.0 2,171.0 5,347.4 3,866.0 Marine segment 2,013.8 1,840.4 4,107.3 3,116.9 $ 8,086.2 $ 6,633.0 $ 16,280.4 $ 11,823.9 Gross profit: Aviation segment $ 110.9 $ 98.6 $ 210.8 $ 187.3 Land segment 87.2 80.2 185.0 173.9 Marine segment 32.9 39.7 66.6 78.8 $ 231.0 $ 218.5 $ 462.4 $ 440.0 Income from operations: Aviation segment $ 49.7 $ 37.2 $ 90.2 $ 71.2 Land segment 12.2 16.2 33.6 50.1 Marine segment 7.2 11.0 15.5 22.5 69.2 64.4 139.3 143.8 Corporate overhead - unallocated (17.9 ) (18.8 ) (37.7 ) (37.2 ) $ 51.2 $ 45.6 $ 101.6 $ 106.6
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 June 30, December 31, 2017 2016 Accounts receivable, net: Aviation segment, net of allowance for bad debt of $6.9 and $6.6 as of June 30, 2017 and December 31, 2016, respectively $ 786.0 $ 776.0 Land segment, net of allowance for bad debt of $9.2 and $8.2 as of June 30, 2017 and December 31, 2016, respectively 712.2 737.5 Marine segment, net of allowance for bad debt of $11.6 and $10.2 as of June 30, 2017 and December 31, 2016, respectively 743.3 830.5 $ 2,241.4 $ 2,344.0 Total assets: Aviation segment $ 2,049.4 $ 2,050.6 Land segment 1,913.8 1,928.5 Marine segment 1,169.7 1,287.7 Corporate 153.1 145.8 $ 5,286.0 $ 5,412.6

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) $ in Millions	Jun. 23, 2016USD ($)	Mar. 31, 2017acquisition	Mar. 31, 2016acquisitionairport	Jun. 30, 2017USD ($)	Dec. 31, 2016USD ($)	Jun. 30, 2016
Acquisitions
Previous percentage ownership of noncontrolling owners	49.00%					49.00%
Capital in excess of par value				$ 373.3	$ 399.9
Acquisitions 2,017
Acquisitions
Number of businesses acquired | acquisition		2
Goodwill anticipated to be deductible for tax purposes				22.4
Estimated purchase price				91.9
Acquisitions 2017 | Customer relationships
Acquisitions
Identifiable intangible assets				$ 40.1
Weighted average amortizable lives of identifiable intangible assets				6 years 10 months 24 days
Aviation fueling operations of certain ExxonMobil affiliates
Acquisitions
Number of airports to be acquired (more than) | airport			80
Tobras
Acquisitions
Estimated purchase price	$ 3.7
Previous percentage of ownership of parent	51.00%
Capital in excess of par value	$ 10.9
Cash paid for acquisition of businesses	3.7
Increase in noncontrolling interest equity	$ 7.2
Acquisitions, 2016 | Land segment
Acquisitions
Number of businesses acquired | acquisition			3

Acquisitions - Purchase Price A

Acquisitions - Purchase Price Allocation (Details) - Acquisitions 2017 $ in Millions	6 Months Ended
	Jun. 30, 2017USD ($)
Business Acquisition [Line Items]
Cash paid for acquisition of businesses	$ 87.6
Non-monetary consideration	4.3
Estimated purchase price	91.9
Assets acquired:
Property and equipment	11.2
Goodwill and identifiable intangible assets	79.4
Other current and long-term assets	8
Liabilities assumed:
Long-term liabilities and deferred tax liabilities	(6.7)
Estimated purchase price	$ 91.9

Acquisitions - Assets and Liabi

Acquisitions - Assets and Liabilities Held for Sale (Details) - Disposed of by Sale - Pester - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2016	May 01, 2016
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash received for disposal of retail business			$ 32.3
Other (expense) income, net
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on disposal of retail business	$ 3.8	$ 3.8

Derivatives - Balance Sheet Loc

Derivatives - Balance Sheet Location (Details) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Derivative assets	$ 243.2	$ 347.2
Derivative liabilities	212.8	332.5
Derivatives designated as hedging instruments
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Derivative assets	73.3	93.3
Derivative liabilities	64.5	108.9
Derivatives designated as hedging instruments | Commodity contracts | Short-term derivative assets, net
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Derivative assets	73	2.2
Derivative liabilities	63.5	5.4
Derivatives designated as hedging instruments | Commodity contracts | Accrued expenses and other current liabilities
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Derivative assets	0.2	86
Derivative liabilities	1	93.5
Derivatives designated as hedging instruments | Commodity contracts | Other long-term liabilities
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Derivative assets	0	5.1
Derivative liabilities	0	10.1
Derivatives not designated as hedging instruments
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Derivative assets	169.9	253.9
Derivative liabilities	148.3	223.6
Derivatives not designated as hedging instruments | Commodity contracts
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Derivative assets	160	238
Derivative liabilities	134.3	217.2
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
Derivative assets	79.4	160.3
Derivative liabilities	43.9	86.7
Derivatives not designated as hedging instruments | Commodity contracts | Identifiable intangible and other non-current assets
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Derivative assets	20.7	17.1
Derivative liabilities	10.6	6.2
Derivatives not designated as hedging instruments | Commodity contracts | Accrued expenses and other current liabilities
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Derivative assets	55	52.5
Derivative liabilities	71.2	112.2
Derivatives not designated as hedging instruments | Commodity contracts | Other long-term liabilities
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Derivative assets	4.9	8.1
Derivative liabilities	8.6	12.1
Derivatives not designated as hedging instruments | Foreign currency contracts
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Derivative assets	9.9	16
Derivative liabilities	14	6.4
Derivatives not designated as hedging instruments | Foreign currency contracts | Short-term derivative assets, net
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Derivative assets	1.7	13.5
Derivative liabilities	1	3.4
Derivatives not designated as hedging instruments | Foreign currency contracts | Identifiable intangible and other non-current assets
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Derivative assets	0	0.9
Derivative liabilities	0	0.1
Derivatives not designated as hedging instruments | Foreign currency contracts | Accrued expenses and other current liabilities
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Derivative assets	8.1	1.6
Derivative liabilities	12.8	2.8
Derivatives not designated as hedging instruments | Foreign currency contracts | Other long-term liabilities
Information about derivative instruments measured at fair value and their locations on the consolidated balance sheet
Derivative assets	0	0
Derivative liabilities	$ 0.1	$ 0

Derivatives - Gross Notional Va

Derivatives - Gross Notional Values (Details) bbl in Millions, $ in Millions	6 Months Ended
	Jun. 30, 2017USD ($)bbl
Long | Commodity contracts
Derivative instruments, at their respective fair value positions
Notional value of commodity contracts (in barrels) | bbl	78.3
Long | Foreign currency contracts | USD
Derivative instruments, at their respective fair value positions
Notional amount of foreign currency contracts | $	$ 424.3
Short | Commodity contracts
Derivative instruments, at their respective fair value positions
Notional value of commodity contracts (in barrels) | bbl	83.7
Short | Foreign currency contracts | USD
Derivative instruments, at their respective fair value positions
Notional amount of foreign currency contracts | $	$ 287.9

Derivatives - Effect on Income

Derivatives - Effect on Income (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Gain (loss) on derivative
Gains or (losses) recognized in income representing hedge ineffectiveness	$ 2,900,000	$ (20,300,000)	$ 4,600,000	$ (20,100,000)
Gains or (losses) that were excluded from the assessment of the effectiveness of fair value hedges	0	0	0	0
Potential Collateral Requirements for Derivative Liabilities with Credit-Risk-Contingent Features
Net derivatives liability positions with credit contingent features	4,800,000		4,800,000		$ 15,200,000
Maximum potential collateral requirements	4,800,000		4,800,000		15,200,000
Collateral posted and held by our counterparties	0		0		$ 0
Derivatives designated as hedging instruments | Fair value hedges
Gain (loss) on derivative
Realized and Unrealized Gain (Loss) on Derivative Instruments	1,400,000	(34,200,000)	6,700,000	(30,800,000)
Realized and Unrealized Gain (Loss) on Hedged Items	1,500,000	13,900,000	(2,000,000)	10,700,000
Derivatives designated as hedging instruments | Fair value hedges | Commodity contracts | Cost of revenue
Gain (loss) on derivative
Realized and Unrealized Gain (Loss) on Derivative Instruments	1,400,000	(34,200,000)	6,700,000	(30,800,000)
Derivatives designated as hedging instruments | Fair value hedges | Commodity contracts for inventory hedging | Cost of revenue
Gain (loss) on derivative
Realized and Unrealized Gain (Loss) on Hedged Items	1,500,000	13,900,000	(2,000,000)	10,700,000
Derivatives designated as hedging instruments | Cash flow hedges
Gain (loss) on derivative
Amount of Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Effective Portion)	5,400,000	(1,300,000)	12,500,000	(3,600,000)
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income (Effective Portion)	5,400,000	6,500,000	2,000,000	7,100,000
Amount of Gain (Loss) Recognized in Income (Ineffective Portion and Amount Excluded from Effectiveness Testing)	(5,700,000)	(5,000,000)	(7,800,000)	(2,300,000)
Derivatives designated as hedging instruments | Cash flow hedges | Commodity contracts | Revenue
Gain (loss) on derivative
Amount of Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Effective Portion)	49,300,000	(70,000,000)	106,400,000	(116,500,000)
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income (Effective Portion)	15,900,000	5,400,000	5,800,000	(48,400,000)
Amount of Gain (Loss) Recognized in Income (Ineffective Portion and Amount Excluded from Effectiveness Testing)	(7,900,000)	(15,000,000)	10,300,000	(15,100,000)
Derivatives designated as hedging instruments | Cash flow hedges | Commodity contracts | Cost of revenue
Gain (loss) on derivative
Amount of Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Effective Portion)	(43,900,000)	68,700,000	(93,900,000)	112,900,000
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income (Effective Portion)	(10,600,000)	1,100,000	(3,800,000)	55,500,000
Amount of Gain (Loss) Recognized in Income (Ineffective Portion and Amount Excluded from Effectiveness Testing)	2,100,000	9,900,000	(18,100,000)	12,800,000
Derivatives not designated as hedging instruments
Gain (loss) on derivative
Amount of Realized and Unrealized Gain (Loss)	15,200,000	7,400,000	23,600,000	(4,400,000)
Derivatives not designated as hedging instruments | Commodity contracts
Gain (loss) on derivative
Amount of Realized and Unrealized Gain (Loss)	21,700,000	3,300,000	32,100,000	(5,300,000)
Derivatives not designated as hedging instruments | Commodity contracts | Revenue
Gain (loss) on derivative
Amount of Realized and Unrealized Gain (Loss)	19,100,000	(5,500,000)	68,200,000	33,400,000
Derivatives not designated as hedging instruments | Commodity contracts | Cost of revenue
Gain (loss) on derivative
Amount of Realized and Unrealized Gain (Loss)	2,600,000	8,800,000	(36,200,000)	(38,700,000)
Derivatives not designated as hedging instruments | Foreign currency contracts
Gain (loss) on derivative
Amount of Realized and Unrealized Gain (Loss)	(6,500,000)	4,100,000	(8,500,000)	900,000
Derivatives not designated as hedging instruments | Foreign currency contracts | Revenue
Gain (loss) on derivative
Amount of Realized and Unrealized Gain (Loss)	(1,600,000)	4,500,000	(2,100,000)	6,500,000
Derivatives not designated as hedging instruments | Foreign currency contracts | Other (expense) income, net
Gain (loss) on derivative
Amount of Realized and Unrealized Gain (Loss)	$ (4,800,000)	$ (400,000)	$ (6,400,000)	$ (5,600,000)

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities (Details) - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Assets and liabilities measured at estimated fair value on a recurring basis
Debt	$ 1,067,800,000	$ 1,186,300,000
Assets:
Derivative assets	243,200,000	347,200,000
Liabilities:
Derivative liabilities	212,800,000	332,500,000
Transfers from Level 1 to Level 2, assets	0	0
Transfers from Level 2 to Level 1, assets	0	0
Transfers from Level 1 to Level 2, liabilities	0	0
Transfers from Level 2 to Level 1, liabilities	0	0
Commodity contracts
Assets:
Derivative assets	233,300,000	331,200,000
Liabilities:
Derivative liabilities	198,800,000	326,100,000
Foreign currency contracts
Assets:
Derivative assets	9,900,000	16,000,000
Liabilities:
Derivative liabilities	14,000,000	6,400,000
Fair value measured on recurring basis
Assets:
Total assets at fair value	248,300,000	351,200,000
Liabilities:
Total liabilities at fair value	212,800,000	332,500,000
Fair value measured on recurring basis | Cash surrender value of life insurance
Assets:
Cash surrender value of life insurance	5,100,000	4,000,000
Fair value measured on recurring basis | Commodity contracts
Assets:
Derivative assets	233,300,000	331,200,000
Liabilities:
Derivative liabilities	198,800,000	326,100,000
Fair value measured on recurring basis | Foreign currency contracts
Assets:
Derivative assets	9,900,000	16,000,000
Liabilities:
Derivative liabilities	14,000,000	6,400,000
Level 1 Inputs | Fair value measured on recurring basis
Assets:
Total assets at fair value	168,000,000	273,600,000
Liabilities:
Total liabilities at fair value	163,000,000	236,600,000
Level 1 Inputs | Fair value measured on recurring basis | Cash surrender value of life insurance
Assets:
Cash surrender value of life insurance	0	0
Level 1 Inputs | Fair value measured on recurring basis | Commodity contracts
Assets:
Derivative assets	168,000,000	273,600,000
Liabilities:
Derivative liabilities	163,000,000	236,600,000
Level 1 Inputs | Fair value measured on recurring basis | Foreign currency contracts
Assets:
Derivative assets	0	0
Liabilities:
Derivative liabilities	0	0
Level 2 Inputs | Fair value measured on recurring basis
Assets:
Total assets at fair value	77,000,000	75,300,000
Liabilities:
Total liabilities at fair value	49,600,000	95,200,000
Level 2 Inputs | Fair value measured on recurring basis | Cash surrender value of life insurance
Assets:
Cash surrender value of life insurance	5,100,000	4,000,000
Level 2 Inputs | Fair value measured on recurring basis | Commodity contracts
Assets:
Derivative assets	62,000,000	55,300,000
Liabilities:
Derivative liabilities	35,700,000	88,800,000
Level 2 Inputs | Fair value measured on recurring basis | Foreign currency contracts
Assets:
Derivative assets	9,900,000	16,000,000
Liabilities:
Derivative liabilities	14,000,000	6,400,000
Level 3 Inputs | Fair value measured on recurring basis
Assets and liabilities measured at estimated fair value on a recurring basis
Debt	1,100,000,000	1,200,000,000
Notes receivable	29,900,000	16,900,000
Assets:
Total assets at fair value	3,300,000	2,300,000
Liabilities:
Total liabilities at fair value	100,000	700,000
Level 3 Inputs | Fair value measured on recurring basis | Cash surrender value of life insurance
Assets:
Cash surrender value of life insurance	0	0
Level 3 Inputs | Fair value measured on recurring basis | Commodity contracts
Assets:
Derivative assets	3,300,000	2,300,000
Liabilities:
Derivative liabilities	100,000	700,000
Level 3 Inputs | Fair value measured on recurring basis | Foreign currency contracts
Assets:
Derivative assets	0	0
Liabilities:
Derivative liabilities	$ 0	$ 0

Fair Value Measurements - Commo

Fair Value Measurements - Commodity and Foreign Currency Contracts (Details) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Offsetting Assets [Line Items]
Gross Amounts Recognized	$ 243.2	$ 347.2
Gross Amounts Offset	189	254.8
Net Amounts Presented	54.2	92.4
Cash Collateral	0.7	27.1
Gross Amounts without Right of Offset	0	0
Net Amounts	53.5	65.3
Offsetting Liabilities [Line Items]
Gross Amounts Recognized	212.8	332.5
Gross Amounts Offset	189	254.8
Net Amounts Presented	23.8	77.7
Cash Collateral	1.6	2
Gross Amounts without Right of Offset	0	0
Net Amounts	22.2	75.7
Commodity contracts
Offsetting Assets [Line Items]
Gross Amounts Recognized	233.3	331.2
Gross Amounts Offset	179.8	249.7
Net Amounts Presented	53.5	81.5
Cash Collateral	0.7	27.1
Gross Amounts without Right of Offset	0	0
Net Amounts	52.8	54.5
Offsetting Liabilities [Line Items]
Gross Amounts Recognized	198.8	326.1
Gross Amounts Offset	179.8	249.7
Net Amounts Presented	19	76.5
Cash Collateral	1.6	2
Gross Amounts without Right of Offset	0	0
Net Amounts	17.4	74.5
Foreign currency contracts
Offsetting Assets [Line Items]
Gross Amounts Recognized	9.9	16
Gross Amounts Offset	9.1	5.1
Net Amounts Presented	0.8	10.9
Cash Collateral	0	0
Gross Amounts without Right of Offset	0	0
Net Amounts	0.8	10.9
Offsetting Liabilities [Line Items]
Gross Amounts Recognized	14	6.4
Gross Amounts Offset	9.1	5.1
Net Amounts Presented	4.8	1.2
Cash Collateral	0	0
Gross Amounts without Right of Offset	0	0
Net Amounts	$ 4.8	$ 1.2

Debt, Interest Income, Expens39

Debt, Interest Income, Expense and Other Finance Costs - Schedule of Debt (Details) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Schedule Of Debt Instruments [Line Items]
Total debt	$ 1,067.8	$ 1,186.3
Short-term debt	21.7	15.4
Long-term debt	1,046.1	1,170.8
Credit Facility
Schedule Of Debt Instruments [Line Items]
Total debt	210	325.2
Term Loans
Schedule Of Debt Instruments [Line Items]
Total debt	840	840
Capital leases
Schedule Of Debt Instruments [Line Items]
Total debt	11.6	12.6
Other
Schedule Of Debt Instruments [Line Items]
Total debt	$ 6.2	$ 8.5

Debt, Interest Income, Expens40

Debt, Interest Income, Expense and Other Finance Costs - Additional Information about Interest Income (Expense), and Other Financing Costs (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Debt, Interest Income, Expense and Other Finance Costs [Abstract]
Interest income	$ 1.7	$ 1.5	$ 2.7	$ 2.8
Interest expense and other financing costs	(15.5)	(9.6)	(29.2)	(18.5)
Interest income (expense) and other financing costs, net	$ (13.8)	$ (8.1)	$ (26.5)	$ (15.7)

Shareholders' Equity (Details)

Shareholders' Equity (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Other Comprehensive (Loss) Income [Roll Forward]
Balance as of beginning of period			$ 1,940	$ 1,905.9
Other comprehensive (loss) income	$ 11.2	$ (9.3)	28.1	(8.3)
Balance as of end of period	1,994.3	1,953.3	1,994.3	1,953.3
Foreign Currency Translation Adjustments
Other Comprehensive (Loss) Income [Roll Forward]
Balance as of beginning of period			(147.5)	(108.7)
Other comprehensive (loss) income			17.6	(13.2)
Less: Net other comprehensive income (loss) attributable to noncontrolling interest			(1.1)	0.8
Balance as of end of period	(130.9)	(122.7)	(130.9)	(122.7)
Derivative Instruments
Other Comprehensive (Loss) Income [Roll Forward]
Balance as of beginning of period			(7.4)	(0.8)
Other comprehensive (loss) income			10.5	5
Less: Net other comprehensive income (loss) attributable to noncontrolling interest			0	0
Balance as of end of period	3.1	4.2	3.1	4.2
Accumulated Other Comprehensive Loss
Other Comprehensive (Loss) Income [Roll Forward]
Balance as of beginning of period			(154.8)	(109.5)
Other comprehensive (loss) income			28.1	(8.3)
Less: Net other comprehensive income (loss) attributable to noncontrolling interest			(1.1)	0.8
Balance as of end of period	$ (127.8)	$ (118.6)	$ (127.8)	$ (118.6)

Income Taxes (Details)

Income Taxes (Details) $ / shares in Units, $ in Millions, ₩ in Billions	3 Months Ended		6 Months Ended
	Jun. 30, 2017USD ($)$ / shares	Jun. 30, 2016USD ($)$ / shares	Jun. 30, 2017USD ($)$ / shares	Jun. 30, 2017KRW (₩)	Jun. 30, 2016USD ($)$ / shares
United States	$ (4.8)	$ (20.8)	$ (18.5)		$ (25.5)
Foreign	39.6	57.6	89.4		117.2
Income before income taxes	34.9	36.9	70.9		91.6
Income tax provision	$ 4.6	$ 7.1	$ 9.6		$ 10.3
Effective income tax rate (as a percent)	13.20%	19.40%	13.50%	13.50%	11.20%
Income tax benefit (expense) due to change in estimate related to uncertain tax position and adjustment for ASU 2016-09			$ (3.9)
Income tax benefit due to change in estimate related to uncertain tax position	$ (2.7)
Special income tax concession period			5 years	5 years
Decrease in foreign income taxes due to special income tax concession	$ 0.5	$ 1.2	$ 1.3		$ 1.8
Impact of income tax concession on basic earnings per common share (in dollars per share) | $ / shares	$ 0.01	$ 0.02	$ 0.02		$ 0.03
Impact of income tax concession on diluted earnings per common share (in dollars per share) | $ / shares	$ 0.01	$ 0.02	$ 0.02		$ 0.03
Tax Authority, South Korea (SRTO)
Income tax assessment notice, amount			$ 8.2	₩ 9.2
Without income tax benefit adjustment
Effective income tax rate (as a percent)	5.40%		8.10%	8.10%

Goodwill (Details)

Goodwill (Details) $ in Millions	6 Months Ended
	Jun. 30, 2017USD ($)
Goodwill [Roll Forward]
Balance as of December 31, 2016	$ 835.8
Additions	39.3
Foreign exchange and other adjustments	12.8
Balance as of June 30, 2017	887.9
Aviation segment
Goodwill [Roll Forward]
Balance as of December 31, 2016	266.8
Additions	39.3
Foreign exchange and other adjustments	6.8
Balance as of June 30, 2017	312.9
Land segment
Goodwill [Roll Forward]
Balance as of December 31, 2016	496.7
Additions	0
Foreign exchange and other adjustments	6.1
Balance as of June 30, 2017	502.7
Marine segment
Goodwill [Roll Forward]
Balance as of December 31, 2016	72.3
Additions	0
Foreign exchange and other adjustments	(0.1)
Balance as of June 30, 2017	$ 72.2

Earnings per Common Share (Deta

Earnings per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Numerator:
Net income attributable to World Fuel	$ 30	$ 30	$ 61.4	$ 81.6
Denominator:
Weighted average common shares for basic earnings per common share (in shares)	68.4	69.5	68.5	69.5
Effect of dilutive securities (in shares)	0.3	0.5	0.4	0.5
Weighted average common shares for diluted earnings per common share (in shares)	68.7	70	68.9	70
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)	1.9	1.1	1.3	1.2
Basic earnings per common share (in dollars per share)	$ 0.44	$ 0.43	$ 0.90	$ 1.17
Diluted earnings per common share (in dollars per share)	$ 0.44	$ 0.43	$ 0.89	$ 1.17

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions, ₩ in Billions	Jun. 30, 2017USD ($)	Jun. 30, 2017KRW (₩)	Dec. 31, 2016USD ($)	Dec. 31, 2016KRW (₩)
Hanjin
Loss Contingencies [Line Items]
Anticipated insurance recoveries	$ 3.9
Assessment
Loss Contingencies [Line Items]
Estimate of possible loss			$ 10.6	₩ 11.9
Additional Assessment
Loss Contingencies [Line Items]
Estimate of possible loss	17.9	₩ 20.1
Collectibility of receivables | Hanjin
Loss Contingencies [Line Items]
Loss contingency, outstanding receivable	$ 2.8

Business Segments - Income Stat

Business Segments - Income Statement Items (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)segment	Jun. 30, 2016USD ($)
Information concerning revenue, gross profit and income from operations by segment
Number of reportable operating business segments | segment			3
Revenue:
Total revenue	$ 8,086.2	$ 6,633	$ 16,280.4	$ 11,823.9
Gross profit:
Gross profit	231	218.5	462.4	440
Income from operations:
Income from operations	51.2	45.6	101.6	106.6
Aviation segment
Revenue:
Total revenue	3,508.4	2,621.6	6,825.8	4,841
Gross profit:
Gross profit	110.9	98.6	210.8	187.3
Land segment
Revenue:
Total revenue	2,564	2,171	5,347.4	3,866
Gross profit:
Gross profit	87.2	80.2	185	173.9
Marine segment
Revenue:
Total revenue	2,013.8	1,840.4	4,107.3	3,116.9
Gross profit:
Gross profit	32.9	39.7	66.6	78.8
Operating Segments
Income from operations:
Income from operations	69.2	64.4	139.3	143.8
Operating Segments | Aviation segment
Income from operations:
Income from operations	49.7	37.2	90.2	71.2
Operating Segments | Land segment
Income from operations:
Income from operations	12.2	16.2	33.6	50.1
Operating Segments | Marine segment
Income from operations:
Income from operations	7.2	11	15.5	22.5
Corporate
Income from operations:
Income from operations	$ (17.9)	$ (18.8)	$ (37.7)	$ (37.2)

Business Segments - Balance She

Business Segments - Balance Sheet Items (Details) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Accounts receivable, net:
Accounts receivable, net	$ 2,241.4	$ 2,344
Total assets:
Total assets	5,286	5,412.6
Aviation segment
Accounts receivable, net:
Accounts receivable, net	786	776
Allowance for bad debt	6.9	6.6
Land segment
Accounts receivable, net:
Accounts receivable, net	712.2	737.5
Allowance for bad debt	9.2	8.2
Marine segment
Accounts receivable, net:
Accounts receivable, net	743.3	830.5
Allowance for bad debt	11.6	10.2
Operating Segments | Aviation segment
Total assets:
Total assets	2,049.4	2,050.6
Operating Segments | Land segment
Total assets:
Total assets	1,913.8	1,928.5
Operating Segments | Marine segment
Total assets:
Total assets	1,169.7	1,287.7
Corporate
Total assets:
Total assets	$ 153.1	$ 145.8