World Fuel Services 2004 Annual Report Download - page 11

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EXPLANATORY NOTE
This Amendment No. 1 on Form 10-K/A (this “Form 10-K/A”) to the Company’ s Annual Report on Form 10-K for the
period ended December 31, 2004, initially filed with the Securities and Exchange Commission (the “SEC”) on March 31, 2005
(the “Original 10-K Filing”), is being filed to restate the Company’ s consolidated statements of cash flows for the years ended
December 31, 2004, 2003 and 2002, including the nine months ended December 31, 2002, and the notes related thereto, to
reflect the correction of the presentation of borrowings and repayments under the Company’ s revolving credit facility. The
restatement is described in more detail in Note 2b) to “Item 8 – Financial Statements and Supplementary Data.” This Form 10-
K/A also reflects the correction of summary quarterly information related to inventory derivatives in Note 10 to Item 8 and the
correction of certain typographical errors.
For the convenience of the reader, this Form 10-K/A sets forth the Original 10-K Filing in its entirety, as amended. With
the exception of changes necessary to reflect the above described items, no other information in the Original 10-K Filing has
been amended. Additionally, this Form 10-K/A does not reflect other events transpiring after the date of the Original Form 10-
K Filing. Pursuant to the rules of the SEC, Item 15 of Part IV of the Original Filing has been amended to contain currently
dated certifications from the Company’ s Chief Executive Officer, Chief Operating Officer, Chief Financial Officer and Chief
Risk and Administrative Officer, as required by Sections 302 and 906 of the Sarbanes-Oxley Act of 2002. The certifications of
the Company’ s Chief Executive Officer, Chief Operating Officer, Chief Financial Officer and Chief Risk and Administrative
Officer are attached to this Form 10-K/A as Exhibits 31.1, 31.2, 31.3, 31.4, and 32.1.
The Original 10-K Filing reflected the restatement of our previously reported financial statements for the years ended
December 31, 2003 and 2002, the nine months ended December 31, 2002, and the year ended March 31, 2002. The
restatement reflects the correction of the cutoff procedures used by the Company for recognizing sales and sales related costs.
The restatement is described in more detail in Note 2a) to “Item 8 – Financial Statements and Supplementary Data.”