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Note 14 - Segment Information
 12 Months Ended
Dec. 31, 2020
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

14.

Segment Information

 

In March 2020, we changed the way we internally evaluate the operating performance of our business units and adopted a new segment reporting structure. As part of this new structure, we separated our DCS segment into two reportable segments: DCS and FMS. Accordingly, we are reporting five distinct business segments for the years ended December 31, 2020, 2019, and 2018, which are based primarily on the services each segment provides. The JBI segment includes freight that is transported by rail over at least some portion of the movement and also includes certain repositioning truck freight moved by JBI equipment or third-party carriers, when such highway movement is intended to direct JBI equipment back toward intermodal operations. DCS segment business includes company-owned and customer-owned, DCS-operated revenue equipment and employee drivers assigned to a specific customer, traffic lane, or service. DCS operations usually include formal, written longer-term agreements or contracts that govern services performed and applicable rates. ICS provides non-asset and asset-light transportation solutions to customers through relationships with third-party carriers and integration with company-owned equipment. ICS services include flatbed, refrigerated, and LTL, as well as a variety of dry-van and intermodal solutions. FMS provides final-mile delivery services to customers through a nationwide network of cross-dock and other delivery system network locations. FMS provides both asset and non-asset big and bulky delivery and installation services, as well as fulfilment and retail-pooling distributions services. JBT business includes full-load, dry-van freight that is transported utilizing company-owned revenue equipment or third-party carriers utilizing company-owned trailing equipment. This freight is typically transported over roads and highways and does not move by rail. All transactions between reporting segments are eliminated in consolidation.

 

Our customers are geographically dispersed across the United States. A summary of certain segment information as of December 31, which has been reclassified to reflect our new segment reporting structure, is presented below (in millions):

 

  

Assets

(Excludes intercompany

accounts)

 
  

December 31,

 
  

2020

  

2019

 

JBI

 $2,426  $2,217 

DCS

  1,482   1,445 

ICS

  301   208 

FMS

  486   432 

JBT

  286   241 

Other (includes corporate)

  947   928 

Total

 $5,928  $5,471 

 

  

Revenues

 
  

Years ended December 31,

 
  

2020

  

2019

  

2018

 

JBI

 $4,675  $4,745  $4,717 

DCS

  2,196   2,128   1,788 

ICS

  1,658   1,348   1,335 

FMS

  689   567   375 

JBT

  463   389   417 

Total segment revenues

  9,681   9,177   8,632 

Intersegment eliminations

  (44

)

  (12

)

  (17

)

Total

 $9,637  $9,165  $8,615 

 

  

Operating Income

 
  

Years ended December 31,

 
  

2020

  

2019

  

2018

 

JBI

 $428  $447  $401 

DCS

  314   278   195 

ICS

  (45)  (11)  50 

FMS

  (1)  (9)  (2)

JBT

  17   29   37 

Total

 $713  $734  $681 

 

  

Depreciation and Amortization Expense

 
  

Years ended December 31,

 
  

2020

  

2019

  

2018

 

JBI

 $189  $181  $173 

DCS

  224   216   176 

FMS

  33   30   24 

JBT

  34   33   38 

Other

  47   39   25 

Total

 $527  $499  $436