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REPORTABLE SEGMENTS
 3 Months Ended
Mar. 31, 2014
REPORTABLE SEGMENTS  
REPORTABLE SEGMENTS

9.                          REPORTABLE SEGMENTS

 

The Company consists of two segments, ocean transportation and logistics, which are further described in Note 1. Reportable segments are measured based on operating income, exclusive of interest expense and income taxes.  In arrangements where the customer purchases ocean transportation and logistics services, the revenues are allocated to each reportable segment based upon the contractual amounts for each type of service.

 

Segment results for the three-months ended March 31, 2014 and 2013 were as follows (in millions):

 

 

 

Three-Months Ended

 

 

 

March 31,

 

 

 

2014

 

2013

 

Revenue:

 

 

 

 

 

Ocean transportation

 

$

294.6

 

$

299.9

 

Logistics

 

97.9

 

94.8

 

Total revenue

 

$

392.5

 

$

394.7

 

Operating Income:

 

 

 

 

 

Ocean transportation

 

$

9.4

 

$

18.5

 

Logistics

 

0.5

 

0.2

 

Total operating income

 

9.9

 

18.7

 

Interest expense, net

 

(4.1

)

(3.7

)

Income before income taxes

 

5.8

 

15.0

 

Income taxes

 

(2.4

)

(5.9

)

Net income

 

$

3.4

 

$

9.1