World Fuel Services 2015 Annual Report Download - page 40

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35
Item 7A. Quantitative and Qualitative Disclosures About Market Risk
Derivatives
The following describes our derivative classifications:
Cash Flow Hedges. Includes certain commodity contracts we enter into to mitigate the risk of price volatility in forecasted
purchases and sales.
Fair Value Hedges. Includes derivatives we enter into in order to hedge price risk associated with our inventory and certain
firm commitments relating to fixed price purchase and sale contracts.
Non-designated Derivatives. Includes derivatives we primarily enter into in order to mitigate the risk of market price
fluctuations in aviation, marine and land fuel in the form of swaps or futures as well as certain fixed price purchase and sale
contracts and proprietary trading. In addition, non-designated derivatives are also entered into to hedge the risk of currency
rate fluctuations.