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Segment Data
 6 Months Ended
Jun. 30, 2021
Segment Data [Abstract]  
Segment Data

(4)      Segment Data

 

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

 

Marine Transportation — Provides marine transportation by United States flagged vessels principally 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 $7,254,000 and $12,157,000 for the three months and six months ended June 30, 2021, respectively, and $6,061,000 and $16,347,000 for the three months and six months ended June 30, 2020, respectively, as well as the related intersegment profit of $726,000 and $1,216,000 for the three months and six months ending June 30, 2021, respectively, and $606,000 and $1,635,000 for the three months and six months ended June 30, 2020, respectively, have 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 June 30,

 

 

Six months ended June 30

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

Marine transportation

 

$

332,887

 

 

$

380,987

 

 

$

633,838

 

 

$

784,244

 

Distribution and services

 

 

226,737

 

 

 

160,172

 

 

 

422,636

 

 

 

400,841

 

 

$

559,624

 

 

$

541,159

 

 

$

1,056,474

 

 

$

1,185,085

 

Segment profit (loss):

 

 

 

 

 

 

 

 

 

 

 

 

Marine transportation

 

$

18,478

 

 

$

51,375

 

 

$

20,418

 

 

$

102,091

 

Distribution and services

 

 

6,156

 

 

 

(14,147

)

 

 

9,067

 

 

 

(10,429

)

Other

 

 

(8,789

)

 

 

(13,394

)

 

 

(17,651

)

 

 

(587,600

)

 

$

15,845

 

 

$

23,834

 

 

$

11,834

 

 

$

(495,938

)

 

 

 

June 30,
2021

 

 

December 31,
2020

 

Total assets:

 

 

 

 

 

 

Marine transportation

 

$

4,723,786

 

 

$

4,760,449

 

Distribution and services

 

 

832,497

 

 

 

805,831

 

Other

 

 

211,532

 

 

 

357,894

 

 

$

5,767,815

 

 

$

5,924,174

 

 

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

 

 

 

Three months ended June 30,

 

 

Six months ended June 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

General corporate expenses

 

$

(2,725

)

 

$

(2,787

)

 

$

(6,545

)

 

$

(6,135

)

Gain (loss) on disposition of assets

 

 

2,119

 

 

 

(189

)

 

 

4,252

 

 

 

303

 

Impairments and other charges

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(561,274

)

Interest expense

 

 

(10,706

)

 

 

(12,708

)

 

 

(21,672

)

 

 

(25,507

)

Other income

 

 

2,523

 

 

 

2,290

 

 

 

6,314

 

 

 

5,013

 

 

 

$

(8,789

)

 

$

(13,394

)

 

$

(17,651

)

 

$

(587,600

)

 

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

 

 

 

June 30,
2021

 

 

December 31,
2020

 

General corporate assets

 

$

209,670

 

 

$

355,205

 

Investment in affiliates

 

 

1,862

 

 

 

2,689

 

 

$

211,532

 

 

$

357,894