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Segment Data
 9 Months Ended
Sep. 30, 2020
Segment Data [Abstract]  
Segment Data
(5)
Segment Data


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


Marine Transportation — Provides 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 evaluates the performance of its segments based on the contributions to operating income of the respective segments, 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 $6,768,000 and $23,115,000 for the three months and nine months ended September 30, 2020, respectively, and $7,201,000 and $22,182,000 for the three months and nine months ended September 30, 2019, respectively, have been eliminated from the tables below. The related intersegment profit of $676,000 and $2,311,000 for the three months and nine months ending September 30, 2020, respectively, and $720,000 and $2,218,000 for the three months and nine months ended September 30, 2019, respectively, have also been eliminated from the tables below.


The following tables set forth the Company’s revenues and profit or loss by reportable segment and total assets (in thousands):

  
Three months ended September 30,
    
Nine months ended September 30,
  
   
2020
    
2019
    
2020
    
2019
  
Revenues:
                        
Marine transportation
  
$
320,602
    
$
412,665
    
$
1,104,846
    
$
1,185,072
  
Distribution and services
    
175,965
      
254,144
      
576,806
      
997,400
  
   
$
496,567
    
$
666,809
    
$
1,681,652
    
$
2,182,472
  
Segment profit (loss):
                                
Marine transportation
  
$
32,391
    
$
72,697
    
$
134,482
    
$
161,364
  
Distribution and services
    
1,104
      
9,132
      
(9,325
)
    
69,869
  
Other
    
(14,221
)
    
(17,374
)
    
(601,821
)
    
(45,732
)
   
$
19,274
    
$
64,455
    
$
(476,664
)
  
$
185,501
  

 
September 30,
2020
    
December 31,
2019
  
Total assets:
            
Marine transportation
  
$
4,795,002
    
$
4,536,368
  
Distribution and services
    
814,550
      
1,422,394
  
Other
    
371,568
      
120,335
  
   
$
5,981,120
    
$
6,079,097
  


The following table presents the details of “Other” segment loss (in thousands):

  
Three months ended September 30,
    
Nine months ended September 30,
  
   
2020
    
2019
    
2020
    
2019
  
General corporate expenses
  
$
(3,268
)
  
$
(3,554
)
  
$
(9,403
)
  
$
(10,284
)
Gain (loss) on disposition of assets
    
(316
)
    
(374
)
    
(13
)
    
4,901
  
Impairments and other charges
    
—
      
—
      
(561,274
)
    
—
  
Interest expense
    
(11,809
)
    
(14,310
)
    
(37,316
)
    
(43,026
)
Other income
    
1,172
      
864
      
6,185
      
2,677
  
   
$
(14,221
)
  
$
(17,374
)
  
$
(601,821
)
  
$
(45,732
)


The following table presents the details of “Other” total assets (in thousands):

  
September 30,
2020
    
December 31,
2019
  
General corporate assets
  
$
369,084
    
$
118,310
  
Investment in affiliates
    
2,484
      
2,025
  
   
$
371,568
    
$
120,335