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Segment Data
 12 Months Ended
Dec. 31, 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, 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 service and genuine replacement parts for engines, transmissions, reduction gears and related equipment used in oilfield services, marine, power generation, on-highway, and other industrial applications. The Company also rents equipment including generators, industrial compressors, high capacity lift trucks, and refrigeration trailers for use in a variety of industrial markets, and manufactures and remanufactures oilfield service equipment, including pressure pumping units, electric power generation equipment, specialized electrical distribution and control equipment, and high capacity energy storage/battery systems for 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 $23,632,000, $27,782,000, and $27,441,000 in 2021, 2020, and 2019, respectively, as well as the related intersegment profit of $2,363,000, $2,778,000, and $2,744,000 in 2021, 2020, and 2019, respectively, have been eliminated from the tables below.

The following tables set 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 (in thousands):

 

 

 

Year Ended December 31,

 

 

 

2021

 

 

2020

 

 

2019

 

Revenues:

 

 

 

 

 

 

 

 

 

Marine transportation

 

$

1,322,918

 

 

$

1,404,265

 

 

$

1,587,082

 

Distribution and services

 

 

923,742

 

 

 

767,143

 

 

 

1,251,317

 

 

 

$

2,246,660

 

 

$

2,171,408

 

 

$

2,838,399

 

Segment profit (loss):

 

 

 

 

 

 

 

 

 

Marine transportation

 

$

63,015

 

 

$

163,638

 

 

$

215,842

 

Distribution and services

 

 

27,607

 

 

 

(12,191

)

 

 

67,201

 

Other

 

 

(381,223

)

 

 

(612,798

)

 

 

(93,223

)

 

 

$

(290,601

)

 

$

(461,351

)

 

$

189,820

 

Depreciation and amortization:

 

 

 

 

 

 

 

 

 

Marine transportation

 

$

185,979

 

 

$

186,798

 

 

$

179,742

 

Distribution and services

 

 

20,573

 

 

 

28,255

 

 

 

35,998

 

Other

 

 

7,166

 

 

 

4,868

 

 

 

3,892

 

 

 

$

213,718

 

 

$

219,921

 

 

$

219,632

 

Capital expenditures:

 

 

 

 

 

 

 

 

 

Marine transportation

 

$

84,353

 

 

$

133,990

 

 

$

217,364

 

Distribution and services

 

 

8,104

 

 

 

4,854

 

 

 

18,284

 

Other

 

 

5,558

 

 

 

9,341

 

 

 

12,516

 

 

 

$

98,015

 

 

$

148,185

 

 

$

248,164

 

 

 

 

December 31,

 

 

 

2021

 

 

2020

 

Total assets:

 

 

 

 

 

 

Marine transportation

 

$

4,319,080

 

 

$

4,760,449

 

Distribution and services

 

 

892,603

 

 

 

805,831

 

Other

 

 

187,380

 

 

 

357,894

 

 

 

$

5,399,063

 

 

$

5,924,174

 

 

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

 

 

 

Year Ended December 31,

 

 

 

2021

 

 

2020

 

 

2019

 

General corporate expenses

 

$

(13,803

)

 

$

(11,050

)

 

$

(13,643

)

Gain on disposition of assets

 

 

5,761

 

 

 

118

 

 

 

8,152

 

Impairments and other charges

 

 

(340,713

)

 

 

(561,274

)

 

 

(35,525

)

Interest expense

 

 

(42,469

)

 

 

(48,739

)

 

 

(55,994

)

Other income

 

 

10,001

 

 

 

8,147

 

 

 

3,787

 

 

 

$

(381,223

)

 

$

(612,798

)

 

$

(93,223

)

 

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

 

 

 

December 31,

 

 

 

2021

 

 

2020

 

General corporate assets

 

$

185,246

 

 

$

355,205

 

Investment in affiliates

 

 

2,134

 

 

 

2,689

 

 

 

$

187,380

 

 

$

357,894