World Fuel Services 2014 Annual Report Download - page 9

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4
joint ventures and alliances. These assumptions could prove inaccurate. Although we believe that the estimates and
projections reflected in the forward-looking statements are reasonable, our expectations may prove to be incorrect.
Important factors that could cause actual results to differ materially from the results and events anticipated or implied by
such forward-looking statements include, but are not limited to:
• customer and counterparty creditworthiness and our ability to collect accounts receivable and settle derivative
contracts;
• changes in the market price of fuel;
• changes in the political, economic or regulatory conditions generally and in the markets in which we operate;
• our failure to effectively hedge certain financial risks and the use of derivatives;
• non-performance by counterparties or customers to derivative contracts;
• changes in credit terms extended to us from our suppliers;
• non-performance of suppliers on their sale commitments and customers on their purchase commitments;
• loss of, or reduced sales to a significant government customer;
• non-performance of third-party service providers;
• adverse conditions in the industries in which our customers operate, including a continuation of the global economic
instability and its impact on the airline and shipping industries;
• the impact of cyber-related incidents;
• currency exchange fluctuations;
• failure of fuel and other products we sell to meet specifications;
• our ability to manage growth;
• our ability to effectively integrate and derive benefits from acquired businesses;
• material disruptions in the availability or supply of fuel;
• environmental and other risks associated with the storage, transportation and delivery of petroleum products;
• the impact of the Lac-Mégantic derailment and related matters;
• risks associated with operating in high risk locations;
• uninsured losses;
• the impact of natural disasters, such as hurricanes;
• our failure to comply with restrictions and covenants in our senior revolving credit facility (“Credit Facility”) and our
senior term loans (“Term Loans”);
• declines in the value and liquidity of cash equivalents and investments;
• our ability to retain and attract senior management and other key employees;
• changes in U.S. or foreign tax laws or changes in the mix of taxable income among different tax jurisdictions;
• our ability to comply with U.S. and international laws and regulations including those related to anti-corruption,
economic sanction programs and environmental matters;
• increased levels of competition;
• the outcome of litigation and the costs associated in defending any actions;
• the liquidity and solvency of banks within our Credit Facility and Term Loans;
• increases in interest rates; and