World Fuel Services 2014 Annual Report Download - page 20

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15
could significantly increase the cost of our derivative contracts (including through requirements to post collateral, which
could adversely affect our cash flows and liquidity, or subject us directly or indirectly to reporting requirements), materially
alter the terms of our derivative contracts, reduce our ability to offer derivative and other price management products to our
customers, reduce the demand for our price risk management services, reduce the availability of derivatives to protect
against risks we encounter, increase price volatility in commodities we buy and sell (and derivatives related to those
commodities), affect cash flow and liquidity due to margin calls, reduce our ability to monetize or restructure our existing
commodity price contracts, and increase our exposure to less creditworthy counterparties. If the increased cost of derivative
contracts is significant or we reduce or limit our derivatives activities as a result of any such legislation or rules, our
profitability and results of operations could be adversely affected. Any of these consequences could have a material adverse
effect on us, our financial condition, and our results of operations and cash flows.
Item 1B. Unresolved Staff Comments
None.