WORLD KINECT CORP Earnings Per Share Disclosure
| For the Year Ended December 31, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
| Numerator: | |||||||||||||||||
Net income (loss) attributable to World Kinect | $ | (614.4) | $ | 67.4 | $ | 52.9 | |||||||||||
| Denominator: | |||||||||||||||||
Weighted average common shares for basic earnings per common share (1) | 55.9 | 59.0 | 61.4 | ||||||||||||||
| Effect of dilutive securities | — | 0.5 | 0.3 | ||||||||||||||
| Weighted average common shares for diluted earnings per common share | 55.9 | 59.5 | 61.7 | ||||||||||||||
| Basic earnings (loss) per common share | $ | (10.99) | $ | 1.14 | $ | 0.86 | |||||||||||
| Diluted earnings (loss) per common share | $ | (10.99) | $ | 1.13 | $ | 0.86 | |||||||||||
| Weighted average securities which are not included in the calculation of diluted earnings per common share because their impact is anti-dilutive or their performance conditions have not been met | 1.1 | 1.1 | 1.3 | ||||||||||||||
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.