World Kinect (WKC) risk factors, FY2025 10-K

World Kinect's FY2025 10-K, filed Feb 24, 2026, lists 25 risk factors in 3 groups. Against the prior year's 27: 1 new, 3 dropped, 11 substantially reworded.

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Risk factors listed
253 groups
New this year
1vs 27 last year
Dropped
3since the prior 10-K
Substantially reworded
11of those kept
Section length
12k wordsItem 1A

What the changes say

  • Company added AI governance risks and updated details on recent asset sales, such as the Watson Fuels sale and Universal TSS acquisition.
  • Commodity price volatility disclosures now cite Venezuela and alternative energy developments.

What changed since the prior 10-K

New

  • NewStrategic & Operational Risks

    Inability to adapt to and manage the benefits and risks of artificial intelligence could expose us to liability or put us at a disadvantage

    Failure to properly adopt, govern, and manage compliance risks related to artificial intelligence could expose the company to liability and competitive disadvantages.

Dropped

  • DroppedStrategic & Operational Risks

    advances affecting energy consumption or supply; regulatory changes in commodities markets; and extreme weather and other natural disasters

  • DroppedStrategic & Operational Risks

    other releases; severe damage and destruction of property and equipment; and loss of product and business interruption

  • DroppedGeneral Risks

    We face various risks related to pandemics, epidemics and other outbreaks of infectious disease, which may adversely affect our business, results of operations and financial condition

    Customer credit limits and payment defaults during periods of high fuel prices.

Reworded

  • 92% rewrittenStrategic & Operational Risks

    Our operations are subject to business interruptions and casualty losses

    Added historical context stating that operational business interruptions, casualty losses, and environmental releases have occurred in the past and may occur again.

  • 84% rewrittenStrategic & Operational Risks

    Changes in the market prices of energy and commodities may have a material adverse effect on our business

    Added mentions of alternative energy availability, Venezuela uncertainty, and tariff changes under the U.S. administration to commodity price volatility factors.

  • 69% rewrittenFinancial, Economic & Market Risks

    A material impairment of our goodwill or intangible assets could reduce our earnings or adversely impact our results of operations

    Retained existing impairment risk language without substantive textual modifications.

  • 55% rewrittenStrategic & Operational Risks

    We may be unable to successfully integrate our acquisitions or fully realize the anticipated benefits of our acquisitions, divestitures and other strategic transactions

    Disclosed specific recent transactions: the May 2024 Avinode Group sale, December 2024 Brazil sale, April 2025 Watson Fuels sale, and November 2025 Universal TSS acquisition.

    Was: We may be unable to successfully integrate our acquisitions or fully realize the anticipated benefits of our acquisitions and other strategic transactions

  • 46% rewrittenLegal & Regulatory Risks

    Our international operations subject us to international trade control, anti-money laundering and anti-corruption laws, including substantial compliance costs and potential exposure to administrative, civil and/or criminal penalties

    Expanded international trade controls language to include specific economic sanctions, export controls, and U.S. federal and state-level official restrictions.

    Was: Our international operations subject us to international trade control, anti-money laundering and anti-corruption laws that can impose substantial compliance costs and expose us to civil and/or criminal penalties

  • 39% rewrittenLegal & Regulatory Risks

    Increasing attention to environmental, social and governance issues, including those related to climate change and sustainability, may increase our costs and impose difficult and expensive compliance requirements

    Narrowed ESG focus from all customers to certain customers, consumers, investors, and stakeholders.

  • 31% rewrittenStrategic & Operational Risks

    If we fail to provide products or services to our customers as agreed, it could adversely affect our business

    Clarified that material claims, liabilities, and specification changes have happened in the past and may recur.

  • 27% rewrittenStrategic & Operational Risks

    Our sales to government customers subject us to additional risks

    Added specific risks of government contract cancellation, unilateral renegotiation, default, and historical employee injury in high-risk locations.

  • 26% rewrittenStrategic & Operational Risks

    Conditions and events affecting the aviation, marine and land transportation industries can affect our business

  • 26% rewrittenLegal & Regulatory Risks

    Climate change and the market and regulatory responses relating to GHG emissions could have a significant impact on our business operations and financial results

  • 22% rewrittenFinancial, Economic & Market Risks

    Economic, political and other risks associated with international sales and operations could adversely affect our business and future operating results

All 25 risk factors

Headings as the filing states them, in filing order.

Strategic & Operational Risks

  1. 01We extend credit to many of our customers in connection with their purchase of fuel and services from us, and our business, financial condition, results of operations and cash flows will be adversely affected if we are unable to collect accounts receivable
  2. 02Changes in the market prices of energy and commodities may have a material adverse effect on our business84% rewritten
  3. 03Conditions and events affecting the aviation, marine and land transportation industries can affect our business26% rewritten
  4. 04Our operations are subject to business interruptions and casualty losses92% rewritten
  5. 05Information technology failures and data security breaches, including as a result of cybersecurity attacks, could negatively impact our results of operations and financial condition, subject us to increased operating costs, and expose us to litigation
  6. 06Our derivative transactions with customers, suppliers, merchants and financial institutions expose us to price and credit risks, which could have a material adverse effect on our business
  7. 07We are exposed to various risks in connection with trading activities and our use of derivatives, which could have a material adverse effect on our results of operations
  8. 08If we fail to provide products or services to our customers as agreed, it could adversely affect our business31% rewritten
  9. 09We may be unable to successfully integrate our acquisitions or fully realize the anticipated benefits of our acquisitions, divestitures and other strategic transactions55% rewritten
  10. 10Our sales to government customers subject us to additional risks27% rewritten
  11. 11Inability to adapt to and manage the benefits and risks of artificial intelligence could expose us to liability or put us at a disadvantageNew
  12. 12Some of our workforce is unionized, and we may face labor disruptions and cost increases that adversely affect our business

Financial, Economic & Market Risks

  1. 13Economic, political and other risks associated with international sales and operations could adversely affect our business and future operating results22% rewritten
  2. 14Our business depends on our ability to adequately finance our capital requirements and fund our investments, which, if not available to us, would impact our ability to conduct our operations
  3. 15Our business is subject to seasonal variability, which can cause our financial results to fluctuate and can adversely affect the market price of our shares
  4. 16A material impairment of our goodwill or intangible assets could reduce our earnings or adversely impact our results of operations69% rewritten
  5. 17Significant inflation and higher interest rates may adversely affect our business and financial condition
  6. 18We face intense competition and, if we are not able to effectively compete in our markets, our revenues and profits may decrease
  7. 19We are subject to counterparty risk with respect to the bond hedge transactions which serve to mitigate the dilutive impact of our Convertible Notes

Legal & Regulatory Risks

  1. 20Climate change and the market and regulatory responses relating to GHG emissions could have a significant impact on our business operations and financial results26% rewritten
  2. 21Changes in U.S. or foreign tax laws or adverse outcomes from governmental challenges to our tax position could adversely affect our business and future operating results
  3. 22Increasing attention to environmental, social and governance issues, including those related to climate change and sustainability, may increase our costs and impose difficult and expensive compliance requirements39% rewritten
  4. 23Our business is subject to extensive laws and regulations, including environmental protection, health and safety, that can result in material costs and liabilities
  5. 24The data that we collect may be vulnerable to cybersecurity incidents, breach, loss or misuse, and our handling of such data may be impacted by changes in data privacy and protection laws and regulations, which could increase operational costs or result in regulatory penalties or litigation
  6. 25Our international operations subject us to international trade control, anti-money laundering and anti-corruption laws, including substantial compliance costs and potential exposure to administrative, civil and/or criminal penalties46% rewritten

Other World Kinect 10-Ks

  • FY2024 10-K risk factors
    27 risks

    Energy price volatility and commodity market exposure dominate the risk profile.

    Filed Feb 25, 2025

About this page

The headings are the filing's own. The one-line readings and the overview are automated and can be wrong: read Item 1A of the 10-K for the exact wording.