XML 70 R26.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Segment Reporting | 9 Months Ended
--- | ---
Sep. 30, 2014
Segment Reporting [Abstract] |
SEGMENT REPORTING | SEGMENT REPORTING Our operating segments are aggregated into reportable business segments based upon similar economic characteristics, products, services, customers and delivery methods. We operate in two reportable business segments: (1) FMS, which provides full service leasing, contract maintenance, contract-related maintenance and commercial rental of trucks, tractors and trailers to customers, principally in the U.S., Canada and the U.K.; and (2) SCS, which provides comprehensive supply chain management solutions including distribution and transportation services in North America and Asia. The SCS segment also provides dedicated services, which includes vehicles and drivers as part of a dedicated transportation solution in the U.S. Our primary measurement of segment financial performance, defined as “Earnings Before Tax” (EBT) from continuing operations, includes an allocation of Central Support Services (CSS) and excludes non-operating pension costs, restructuring and other charges, net and the items discussed in Note (O), “Other Items Impacting Comparability.” CSS represents those costs incurred to support all business segments, including human resources, finance, corporate services, public affairs, information technology, health and safety, legal, marketing and corporate communications. The objective of the EBT measurement is to provide clarity on the profitability of each business segment and, ultimately, to hold leadership of each business segment and each operating segment within each business segment accountable for their allocated share of CSS costs. Certain costs are considered to be overhead not attributable to any segment and remain unallocated in CSS. Included among the unallocated overhead remaining within CSS are the costs for investor relations, public affairs and certain executive compensation. Our FMS segment leases revenue earning equipment and provides fuel, maintenance and other ancillary services to the SCS segment. Inter-segment revenue and EBT are accounted for at rates similar to those executed with third parties. EBT related to inter-segment equipment and services billed to customers (equipment contribution) are included in both FMS and SCS and then eliminated (presented as “Eliminations”). The following tables set forth financial information for each of our business segments and provides a reconciliation between segment EBT and earnings from continuing operations before income taxes for the three and nine months ended September 30, 2014 and 2013. Segment results are not necessarily indicative of the results of operations that would have occurred had each segment been an independent, stand-alone entity during the periods presented.
| FMS |  | SCS |  | Eliminations |  | Total
| (In thousands) |  |
For the three months ended September 30, 2014 |  |  |  |  |  |
Revenue from external customers | $ | 1,069,333 |  |  | 617,817 |  |  | — |  |  | 1,687,150 |
Inter-segment revenue | 117,589 |  |  | — |  |  | (117,589 | ) |  | — |
Total revenue | $ | 1,186,922 |  |  | 617,817 |  |  | (117,589 | ) |  | 1,687,150 |
Segment EBT | $ | 120,980 |  |  | 36,152 |  |  | (9,564 | ) |  | 147,568 |
Unallocated CSS |  |  |  |  |  |  | (13,564 | )
Non-operating pension costs |  |  |  |  |  |  | (2,455 | )
Restructuring and other charges, net and other items (1) |  |  |  |  |  |  | (1,828 | )
Earnings from continuing operations before income taxes |  |  |  |  |  |  | $ | 129,721 |
Segment capital expenditures paid (2), (3) | $ | 470,552 |  |  | 7,484 |  |  | — |  |  | 478,036 |
Unallocated CSS |  |  |  |  |  |  | 7,915 |
Capital expenditures paid |  |  |  |  |  |  | $ | 485,951 |
For the three months ended September 30, 2013 |  |  |  |  |  |
Revenue from external customers | $ | 1,023,790 |  |  | 610,750 |  |  | — |  |  | 1,634,540 |
Inter-segment revenue | 114,427 |  |  | — |  |  | (114,427 | ) |  | — |
Total revenue | $ | 1,138,217 |  |  | 610,750 |  |  | (114,427 | ) |  | 1,634,540 |
Segment EBT | $ | 96,428 |  |  | 39,607 |  |  | (9,134 | ) |  | 126,901 |
Unallocated CSS |  |  |  |  |  |  | (10,053 | )
Non-operating pension costs |  |  |  |  |  |  | (5,090 | )
Restructuring and other charges, net and other items (1) |  |  |  |  |  |  | (360 | )
Earnings from continuing operations before income taxes |  |  |  |  |  |  | $ | 111,398 |
Segment capital expenditures paid (2), (3) | $ | 538,453 |  |  | 3,896 |  |  | — |  |  | 542,349 |
Unallocated CSS |  |  |  |  |  |  | 5,361 |
Capital expenditures paid |  |  |  |  |  |  | $ | 547,710 |
————————————
(1) | See Note (O), "Other Items Impacting Comparability," for additional information.
(2) | Excludes revenue earning equipment acquired under capital leases.
(3) | Excludes acquisition payments of $8.1 million and $0.5 million during the three months ended September 30, 2014 and 2013, respectively.
| FMS |  | SCS |  | Eliminations |  | Total
| (In thousands) |  |
For the nine months ended September 30, 2014 |  |  |  |  |  |
Revenue from external customers | $ | 3,139,721 |  |  | 1,842,737 |  |  | — |  |  | 4,982,458 |
Inter-segment revenue | 363,510 |  |  | — |  |  | (363,510 | ) |  | — |
Total revenue | $ | 3,503,231 |  |  | 1,842,737 |  |  | (363,510 | ) |  | 4,982,458 |
Segment EBT | $ | 311,480 |  |  | 88,664 |  |  | (29,715 | ) |  | 370,429 |
Unallocated CSS |  |  |  |  |  |  | (36,518 | )
Non-operating pension costs |  |  |  |  |  |  | (7,313 | )
Restructuring and other charges, net and other items (1) |  |  |  |  |  |  | (1,828 | )
Earnings from continuing operations before income taxes |  |  |  |  |  |  | $ | 324,770 |
Segment capital expenditures paid (2), (3) | $ | 1,661,929 |  |  | 15,605 |  |  | — |  |  | 1,677,534 |
Unallocated CSS |  |  |  |  |  |  | 63,639 |
Capital expenditures paid |  |  |  |  |  |  | $ | 1,741,173 |
For the nine months ended September 30, 2013 |  |  |  |  |  |
Revenue from external customers | $ | 3,017,150 |  |  | 1,784,406 |  |  | — |  |  | 4,801,556 |
Inter-segment revenue | 342,057 |  |  | — |  |  | (342,057 | ) |  | — |
Total revenue | $ | 3,359,207 |  |  | 1,784,406 |  |  | (342,057 | ) |  | 4,801,556 |
Segment EBT | $ | 245,840 |  |  | 97,011 |  |  | (25,782 | ) |  | 317,069 |
Unallocated CSS |  |  |  |  |  |  | (32,012 | )
Non-operating pension costs |  |  |  |  |  |  | (15,333 | )
Restructuring and other recoveries, net and other items (1) |  |  |  |  |  |  | 1,544 |
Earnings from continuing operations before income taxes |  |  |  |  |  |  | $ | 271,268 |
Segment capital expenditures paid (2), (3) | $ | 1,462,095 |  |  | 14,713 |  |  | — |  |  | 1,476,808 |
Unallocated CSS |  |  |  |  |  |  | 19,016 |
Capital expenditures paid |  |  |  |  |  |  | $ | 1,495,824 |
————————————
(1) | See Note (O), "Other Items Impacting Comparability," for additional information.
(2) | Excludes revenue earning equipment acquired under capital leases.
(3) | Excludes acquisition payments of $9.8 million and $1.9 million during the nine months ended September 30, 2014, and 2013, respectively.

X
- Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration