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Note 11 - Business Segments

9 Months Ended

Sep. 30, 2023

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

11. Business Segments

We reported five distinct business segments during the nine months ended September 30, 2023 and 2022. These segments included Intermodal (JBI), Dedicated Contract Services® (DCS®), Integrated Capacity Solutions (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
		September 30, 2023				December 31, 2022
JBI		$	3,441			$	3,270
DCS			2,359				1,952
ICS			370				311
FMS			627				620
JBT			452				474
Other (includes corporate)			1,124				1,160
Total		$	8,373			$	7,787

		Operating Revenues
		Three Months Ended September 30,								Nine Months Ended September 30,
		2023				2022				2023				2022
JBI		$	1,555			$	1,837			$	4,584			$	5,273
DCS			892				931				2,659				2,611
ICS			298				575				1,026				1,840
FMS			226				265				675				775
JBT			196				237				594				694
Subtotal			3,167				3,845				9,538				11,193
Inter-segment eliminations			(3	)			(7	)			(12	)			(29	)
Total		$	3,164			$	3,838			$	9,526			$	11,164

		Operating Income/(Loss)
		Three Months Ended September 30,								Nine Months Ended September 30,
		2023				2022				2023				2022
JBI		$	128.0			$	217.0			$	439.5			$	620.5
DCS			102.4				107.2				318.6				281.0
ICS			(9.4	)			13.4				(19.2	)			60.8
FMS			13.0				9.8				34.4				23.6
JBT			7.7				14.9				16.5				63.9
Other (includes corporate)			-				(0.1	)			0.1				(0.2	)
Total		$	241.7			$	362.2			$	789.9			$	1,049.6

		Depreciation and Amortization Expense
		Three Months Ended September 30,								Nine Months Ended September 30,
		2023				2022				2023				2022
JBI		$	64.7			$	58.0			$	188.8			$	165.9
DCS			84.8				71.5				240.5				205.6
FMS			11.9				11.4				35.8				32.1
JBT			10.9				9.1				32.8				24.7
Other (includes corporate)			15.4				16.6				45.6				44.6
Total		$	187.7			$	166.6			$	543.5			$	472.9

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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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