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Segment Data | 9 Months Ended
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Sep. 30, 2024
Segment Reporting [Abstract] |
Segment Data | (4) Segment Data The Company’s operations are aggregated into two reportable business segments as follows: Marine Transportation Segment (“KMT”) — 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 Segment (“KDS”) — Provides after-market services and genuine replacement parts for engines, transmissions, reduction gears, and related equipment used in oilfield services, marine, power generation, on-highway, backup power 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, and specialized electrical distribution and control equipment. 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 KDS from KMT of $5.0 million and $19.1 million for the three months and nine months ended September 30, 2024, respectively, and $9.9 million and $29.6 million for the three months and nine months ended September 30, 2023, respectively, as well as the related intersegment profit of $0.5 million and $1.9 million for the three months and nine months ended September 30, 2024, respectively, and $1.0 million and $3.0 million for the three months and nine months ended September 30, 2023, 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 September 30, |  |  | Nine Months Ended September 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |
Marine transportation |  | $ | 486,054 |  |  | $ | 429,885 |  |  | $ | 1,446,274 |  |  | $ | 1,269,342 |
Distribution and services |  |  | 345,095 |  |  |  | 334,887 |  |  |  | 1,017,287 |  |  |  | 1,023,122 |
|  | $ | 831,149 |  |  | $ | 764,772 |  |  | $ | 2,463,561 |  |  | $ | 2,292,464 |
Segment profit: |  |  |  |  |  |  |  |  |  |  |  |
Marine transportation |  | $ | 99,476 |  |  | $ | 63,467 |  |  | $ | 277,335 |  |  | $ | 170,754 |
Distribution and services |  |  | 30,378 |  |  |  | 33,194 |  |  |  | 81,828 |  |  |  | 85,828 |
Other |  |  | (12,473 | ) |  |  | (14,935 | ) |  |  | (39,374 | ) |  |  | (43,906 | )
|  | $ | 117,381 |  |  | $ | 81,726 |  |  | $ | 319,789 |  |  | $ | 212,676 |
|  | September 30, 2024 |  |  | December 31, 2023 |
Total assets: |  |  |  |  |  |
Marine transportation |  | $ | 4,547,989 |  |  | $ | 4,454,931 |
Distribution and services |  |  | 1,176,845 |  |  |  | 1,156,384 |
Other |  |  | 145,889 |  |  |  | 110,882 |
|  | $ | 5,870,723 |  |  | $ | 5,722,197 |
The following table presents the details of “Other” segment loss (in thousands):
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
General corporate expenses |  | $ | (4,541 | ) |  | $ | (4,666 | ) |  | $ | (12,418 | ) |  | $ | (18,539 | )
Gain on disposition of assets |  |  | 1,617 |  |  |  | 1,528 |  |  |  | 2,206 |  |  |  | 4,230 |
Interest expense |  |  | (12,498 | ) |  |  | (13,386 | ) |  |  | (38,468 | ) |  |  | (38,893 | )
Other income |  |  | 2,949 |  |  |  | 1,589 |  |  |  | 9,306 |  |  |  | 9,296 |
|  | $ | (12,473 | ) |  | $ | (14,935 | ) |  | $ | (39,374 | ) |  | $ | (43,906 | )
The following table presents the details of “Other” total assets (in thousands):
|  | September 30, 2024 |  |  | December 31, 2023 |
General corporate assets |  | $ | 143,276 |  |  | $ | 108,306 |
Investment in affiliates |  |  | 2,613 |  |  |  | 2,576 |
|  | $ | 145,889 |  |  | $ | 110,882 |

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- Definition The entire disclosure for reporting segments including data and tables. 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