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Note 9 - Business Segments
 9 Months Ended
Sep. 30, 2025
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

9.

Business Segments

 

We reported five distinct business segments during the nine months ended September 30, 2025 and 2024. 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, 2024. A summary of certain segment information is presented below (in millions):

 

   

Assets

(Excludes intercompany accounts)

As of

  
   

September 30, 2025

    

December 31, 2024

  

JBI

   $ 3,475     $ 3,507  

DCS

     2,141       2,195  

ICS

     282       288  

FMS

     508       544  

JBT

     361       389  

Total segment assets

     6,767       6,923  

Other (includes corporate)

     1,341       1,389  

Total

   $ 8,108     $ 8,312  

 

   

Net Capital Expenditures (1)

For The Nine Months Ended

September 30,

  
   

2025

    

2024

  

JBI

   $ 168.9     $ 207.2  

DCS

     172.4       129.7  

ICS

     0.9       19.3  

FMS

     11.0       13.0  

JBT

     0.3       14.6  

Total segment net capital expenditures

     353.5       383.8  

Other (includes corporate)

     137.4       104.3  

Total

   $ 490.9     $ 488.1  

 

   

Revenues and Operating Income/(Loss)

  
   

For The Three Months ended September 30, 2025

  
   

JBI

    

DCS

    

ICS

    

FMS

    

JBT

    

Intersegment Eliminations

    

Consolidated

  

Total operating revenues

   $ 1,520.4     $ 864.1     $ 276.3     $ 206.4     $ 189.7     $ (4.0 )   $ 3,052.9  

Operating expenses:

                                                        

Rents, purchased transportation, and fuel

     934.4       110.0       236.9       78.5       140.5                  

Salaries, wages and employee benefits

     221.3       390.6       17.1       71.0       10.4                  

Depreciation and amortization

     62.3       79.5       2.0       11.2       5.7                  

Operating supplies and expenses

     66.2       70.4       2.2       9.1       8.1                  

Insurance and claims

     28.3       43.1       3.4       5.2       6.4                  

General and administrative expenses, net of asset dispositions

     75.0       51.5       15.4       22.7       10.7                  

Other segment items (2)

     7.9       14.7       0.1       1.8       0.5                  

Total operating expenses

     1,395.4       759.8       277.1       199.5       182.3       (3.9 )     2,810.2  

Operating Income (3)

   $ 125.0     $ 104.3     $ (0.8 )   $ 6.9     $ 7.4     $ (0.1 )   $ 242.7  

 

   

Revenues and Operating Income/(Loss)

  
   

For The Three Months ended September 30, 2024

  
   

JBI

    

DCS

    

ICS

    

FMS

    

JBT

    

Intersegment Eliminations

    

Consolidated

  

Total operating revenues

   $ 1,556.8     $ 846.0     $ 278.2     $ 218.3     $ 173.2     $ (4.3 )   $ 3,068.2  

Operating expenses:

                                                        

Rents, purchased transportation, and fuel

     999.1       109.0       230.1       79.8       125.3                  

Salaries, wages and employee benefits

     217.2       383.3       18.1       74.9       10.6                  

Depreciation and amortization

     62.2       82.7       6.3       11.1       8.9                  

Operating supplies and expenses

     65.2       71.2       1.7       9.7       6.4                  

Insurance and claims

     28.9       43.1       4.2       3.8       3.2                  

General and administrative expenses, net of asset dispositions

     64.5       46.5       20.8       25.0       10.2                  

Other segment items (2)

     7.9       14.7       0.3       2.0       0.4                  

Total operating expenses

     1,445.0       750.5       281.5       206.3       165.0       (4.2 )     2,844.1  

Operating Income (3)

   $ 111.8     $ 95.5     $ (3.3 )   $ 12.0     $ 8.2     $ (0.1 )   $ 224.1  

 

   

Revenues and Operating Income/(Loss)

  
   

For The Nine Months ended September 30, 2025

  
   

JBI

    

DCS

    

ICS

    

FMS

    

JBT

    

Intersegment Eliminations

    

Consolidated

  

Total operating revenues

   $ 4,427.5     $ 2,533.2     $ 804.6     $ 617.8     $ 533.3     $ (13.9 )   $ 8,902.5  

Operating expenses:

                                                        

Rents, purchased transportation, and fuel

     2,748.9       323.1       688.4       230.0       393.1                  

Salaries, wages and employee benefits

     660.9       1,148.9       50.7       212.1       31.4                  

Depreciation and amortization

     184.4       238.4       6.0       33.5       20.1                  

Operating supplies and expenses

     194.4       211.0       5.4       28.6       22.6                  

Insurance and claims

     84.7       131.8       11.9       17.6       19.1                  

General and administrative expenses, net of asset dispositions

     215.1       158.0       48.5       70.6       32.8                  

Other segment items (2)

     24.0       43.8       0.7       5.8       1.4                  

Total operating expenses

     4,112.4       2,255.0       811.6       598.2       520.5       (13.8 )     8,283.9  

Operating Income (3)

   $ 315.1     $ 278.2     $ (7.0 )   $ 19.6     $ 12.8     $ (0.1 )   $ 618.6  

 

   

Revenues and Operating Income/(Loss)

  
   

For The Nine Months ended September 30, 2024

  
   

JBI

    

DCS

    

ICS

    

FMS

    

JBT

    

Intersegment Eliminations

    

Consolidated

  

Total operating revenues

   $ 4,359.6     $ 2,557.0     $ 833.8     $ 682.9     $ 519.6     $ (12.0 )   $ 8,940.9  

Operating expenses:

                                                        

Rents, purchased transportation, and fuel

     2,766.7       346.0       709.2       245.0       376.2                  

Salaries, wages and employee benefits

     620.4       1,147.4       58.4       233.8       32.9                  

Depreciation and amortization

     184.0       247.1       13.8       34.2       27.1                  

Operating supplies and expenses

     181.5       208.6       4.7       31.3       20.4                  

Insurance and claims

     75.8       126.5       17.1       8.7       14.9                  

General and administrative expenses, net of asset dispositions

     194.6       151.1       63.7       76.4       33.7                  

Other segment items (2)

     23.7       44.7       1.0       6.6       1.5                  

Total operating expenses

     4,046.7       2,271.4       867.9       636.0       506.7       (12.0 )     8,316.7  

Operating Income (3)

   $ 312.9     $ 285.6     $ (34.1 )   $ 46.9     $ 12.9     $ -     $ 624.2  

 

 

(1)

Net capital expenditures report the additions to property and equipment, net of proceeds from the sale of property and equipment.
 

(2)

Other segment items include communication, utilities, and operating taxes and licenses expense items.
 

(3)

Refer to the Condensed Consolidated Statements of Earnings for the reconciliation of consolidated operating income to earnings before income taxes.