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Note 9 - Business Segments

3 Months Ended

Mar. 31, 2023

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

9. Business Segments

We reported five distinct business segments during the three months ended March 31, 2023 and 2022. These segments included Intermodal (JBI), Dedicated Contract Services® (DCS®), Integrated Capacity Solution (ICS), Final Mile Services® (FMS), and Truckload (JBT). The operation of each of these businesses is described in Note 13, Segment Information, of our Annual Report (Form 10-K) for the year ended December 31, 2022.

On January 1, 2023, we transferred the majority of the company owned trucking operations in our JBT business segment to our DCS business segment and transferred our less-than-truckload brokerage operations from our ICS business segment to our FMS business segment. Accordingly, the prior period segment information reported below has been reclassified to conform to the current period presentation. These reclassifications have no impact on our historical consolidated balance sheets, statements of earnings or cash flows.

A summary of certain segment information is presented below (in millions):

		Assets (Excludes intercompany accounts) As of
		March 31, 2023				December 31, 2022
JBI		$	3,262			$	3,270
DCS			2,128				1,952
ICS			284				311
FMS			629				620
JBT			464				474
Other (includes corporate)			1,023				1,160
Total		$	7,790			$	7,787

		Operating Revenues For The Three Months Ended March 31,
		2023				2022
JBI		$	1,540			$	1,603
DCS			879				776
ICS			385				659
FMS			225				235
JBT			206				230
Subtotal			3,235				3,503
Inter-segment eliminations			(5	)			(14	)
Total		$	3,230			$	3,489

		Operating Income/(Loss) For The Three Months Ended March 31,
		2023				2022
JBI		$	168.7			$	201.0
DCS			102.6				79.7
ICS			(5.4	)			24.2
FMS			6.6				0.6
JBT			5.0				28.9
Other (includes corporate)			-				(0.1	)
Total		$	277.5			$	334.3

		Depreciation and Amortization Expense For The Three Months Ended March 31,
		2023				2022
JBI		$	61.7			$	52.7
DCS			76.2				65.4
FMS			12.0				9.4
JBT			10.8				7.5
Other (includes corporate)			15.1				13.8
Total		$	175.8			$	148.8

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- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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