World Fuel Services 2012 Annual Report Download - page 23

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We may also be affected by new environmental laws and regulations that will apply to us or our
customers in the future, some of which could reduce the demand for our products and services. For
example, the U.S. Environmental Protection Agency has finalized rules requiring the reporting of
greenhouse gas (‘‘GHG’’) emissions by petroleum product suppliers and facilities meeting certain annual
emissions thresholds and to regulate emissions from major sources of GHGs under the Clean Air Act. In
addition, a number of countries outside the U.S. have enacted or are considering GHG emission
schemes. Although the ultimate impact of these or other future measures is difficult to accurately
predict, they could affect our operations, earnings and competitive position.
Forward-Looking Statements
Certain statements made in this report and the information incorporated by reference in it, or made by us
in other reports, filings with the SEC, press releases, teleconferences, industry conferences or
otherwise, are ‘‘forward-looking statements’’ within the meaning of the Private Securities Litigation
Reform Act of 1995. The forward-looking statements include, without limitation, any statement that may
predict, forecast, indicate or imply future results, performance or achievements, and may contain the
words ‘‘believe,’’ ‘‘anticipate,’’ ‘‘expect,’’ ‘‘estimate,’’ ‘‘project,’’ ‘‘could,’’ ‘‘would,’’ ‘‘will,’’ ‘‘will be,’’ ‘‘will
continue,’’ ‘‘will likely result,’’ ‘‘plan,’’ or words or phrases of similar meaning.
Forward-looking statements are estimates and projections reflecting our best judgment and involve
risks, uncertainties or other factors relating to our operations and business environment, all of which are
difficult to predict and many of which are beyond our control. The Company’s actual results may differ
materially from the future results, performance or achievements expressed or implied by the forward-
looking statements. These statements are based on our management’s expectations, beliefs and
assumptions concerning future events affecting us, which in turn are based on currently available
information.
Examples of forward-looking statements in this 2012 10-K Report include, but are not limited to, our
expectations regarding our business strategy, business prospects, operating results, effectiveness of
internal controls to manage risk, working capital, liquidity, capital expenditure requirements and future
acquisitions. Important assumptions relating to the forward-looking statements include, among others,
assumptions regarding demand for our products, the cost, terms and availability of fuel from suppliers,
pricing levels, the timing and cost of capital expenditures, outcome of pending litigation, competitive
conditions, general economic conditions and synergies relating to acquisitions, 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 recession and its impact on the airline and shipping industries;
• currency exchange fluctuations;
• failure of the fuel we sell to meet specifications;
• our ability to manage growth;
• our ability to integrate acquired businesses;
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