Segment Data

12 Months Ended

Dec. 31, 2019

(16) Segment Data

The Company’s operations are aggregated into two reportable business segments as follows:

Marine Transportation — Provide marine transportation principally by United States flag vessels of liquid cargoes throughout the United States inland waterway system, along all three United States coasts, in Alaska and Hawaii and, to a lesser extent, in United States coastal transportation of dry-bulk cargoes. The principal products transported include petrochemicals, black oil, refined petroleum products and agricultural chemicals.

Distribution and Services — Provides after-market services and parts for engines, transmissions, reduction gears and related equipment used in oilfield service, marine, power generation, on-highway, and other industrial applications. The Company also rents equipment including generators, industrial compressors, railcar movers, and high capacity lift trucks for use in a variety of industrial markets, and manufactures and remanufactures oilfield service equipment, including pressure pumping units, for land-based oilfield service customers.

The Company’s two reportable business segments are managed separately based on fundamental differences in their operations. The Company’s accounting policies for the business segments are the same as those described in Note 1, Summary of Significant Accounting Policies. The Company evaluates the performance of its segments based on the contributions to operating income of the respective segments, and before income taxes, interest, gains or losses on disposition of assets, other nonoperating income, noncontrolling interests, accounting changes, and nonrecurring items. Intersegment revenues, based on market-based pricing, of the distribution and services segment from the marine transportation segment of $27,441,000, $29,363,000 and $20,717,000 in 2019, 2018 and 2017, respectively, as well as the related intersegment profit of $2,744,000, $2,936,000 and $2,072,000 in 2019, 2018 and 2017, respectively, have been eliminated from the tables below.

The following table sets forth by reportable segment the revenues, profit or loss, total assets, depreciation and amortization, and capital expenditures attributable to the principal activities of the Company for the years ended December 31, 2019, 2018 and 2017 (in thousands):

	2019			2018			2017
Revenues:
Marine transportation	$	1,587,082		$	1,483,143		$	1,324,106
Distribution and services		1,251,317			1,487,554			890,312
	$	2,838,399		$	2,970,697		$	2,214,418
Segment profit (loss):
Marine transportation	$	215,842		$	147,416		$	135,547
Distribution and services		67,201			129,305			86,479
Other		(93,223	)		(162,562	)		(149,012	)
	$	189,820		$	114,159		$	73,014
Total assets:
Marine transportation	$	4,536,368		$	4,145,294		$	3,485,099
Distribution and services		1,422,394			1,653,636			1,567,085
Other		120,335			72,664			75,243
	$	6,079,097		$	5,871,594		$	5,127,427
Depreciation and amortization:
Marine transportation	$	179,742		$	182,307		$	178,898
Distribution and services		35,998			39,349			20,387
Other		3,892			3,316			3,596
	$	219,632		$	224,972		$	202,881
Capital expenditures:
Marine transportation	$	217,364		$	284,953		$	165,421
Distribution and services		18,284			10,742			5,086
Other		12,516			6,166			6,715
	$	248,164		$	301,861		$	177,222

The following table presents the details of “Other” segment profit (loss) for the years ended December 31, 2019, 2018 and 2017 (in thousands):

	2019			2018			2017
General corporate expenses	$	(13,643	)	$	(35,590	)	$	(18,202	)
Interest expense		(55,994	)		(46,856	)		(21,472	)
Inventory write-down		(35,525	)		—			—
Impairment of long-lived assets		—			(82,705	)		(105,712	)
Impairment of goodwill		—			(2,702	)		—
Lease cancellation costs		—			(2,403	)		—
Gain (loss) on disposition of assets		8,152			1,968			(4,487	)
Other income (expense)		3,787			5,726			861
	$	(93,223	)	$	(162,562	)	$	(149,012	)

The following table presents the details of “Other” total assets as of December 31, 2019, 2018 and 2017 (in thousands):

	2019		2018		2017
General corporate assets	$	118,310	$	70,169	$	73,353
Investment in affiliates		2,025		2,495		1,890
	$	120,335	$	72,664	$	75,243