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Business Segments | 9 Months Ended
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Sep. 30, 2024
Segment Reporting [Abstract] |
Business Segments | Business Segments The sale of our Federal and Defense segment allows us to focus on a long-term strategic growth strategy focused on higher margin and higher growth aftermarket parts distribution and MRO businesses. Following the sale of our Federal and Defense segment, management of our business operations is conducted under two reportable operating segments: Aviation Our Aviation segment provides aftermarket MRO and distribution services to commercial, business and general aviation, cargo, military and defense, and rotorcraft customers globally. Core services include parts distribution, MRO services including engine components and accessories, fuel controls, avionics, pneumatics, hydraulics, wheel and brake, and rotable exchange and supply chain services. Fleet Our Fleet segment provides parts, inventory management, e-commerce fulfillment, logistics, supply chain support and other services to support the commercial aftermarket medium- and heavy-duty truck market, and the United States Postal Service ("USPS"). Core services include vehicle parts distribution, sourcing, IT solutions, customized fleet logistics, warehousing, kitting, just-in-time supply chain management, alternative product sourcing, and engineering and technical support. We evaluate segment performance based on consolidated revenues and operating income. Net sales of our business segments exclude inter-segment sales as these activities are eliminated in consolidation. Corporate expenses are primarily selling, general and administrative expenses not allocated to segments. Our segment information is as follows (in thousands):
|  | Three months ended September 30, |  | Nine months ended September 30,
|  | 2024 |  | 2023 |  | 2024 |  | 2023
Revenues: |  |  |  |  |  |  |  |
Aviation |  | $ | 203,642 |  |  | $ | 152,355 |  |  | $ | 558,853 |  |  | $ | 390,319 |
Fleet |  | 69,971 |  |  | 78,998 |  |  | 222,258 |  |  | 234,844 |
Total revenues |  | $ | 273,613 |  |  | $ | 231,353 |  |  | $ | 781,111 |  |  | $ | 625,163 |
Operating income: |  |  |  |  |  |  |  |
Aviation |  | $ | 25,435 |  |  | $ | 20,951 |  |  | $ | 72,214 |  |  | $ | 52,397 |
Fleet |  | 2,471 |  |  | 8,531 |  |  | 11,299 |  |  | 22,284 |
Corporate/unallocated expenses(a) |  | (4,208) |  |  | (4,218) |  |  | (29,509) |  |  | (12,004) |
Operating income |  | $ | 23,698 |  |  | $ | 25,264 |  |  | $ | 54,004 |  |  | $ | 62,677 |
(a) Certain corporate costs previously allocated to the Federal and Defense business for segment reporting purposes did not qualify for classification within discontinued operations and have been reallocated to continuing operations.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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