XML 34 R13.htm IDEA: XBRL DOCUMENT v2.4.0.8
REPORTABLE SEGMENTS
 6 Months Ended
Jun. 30, 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 and six-month periods ended June 30, 2014 and 2013 were as follows (in millions):

 

 

 

Three-Months Ended

 

Six-Months Ended

 

 

 

June 30

 

June 30

 

 

 

2014

 

2013

 

2014

 

2013

 

Revenue:

 

 

 

 

 

 

 

 

 

Ocean transportation

 

$
321.1

 

$
310.0

 

$
615.7

 

$
609.9

 

Logistics

 
115.3

 
106.6

 
213.2

 
201.4

 

Total revenue

 

$
436.4

 

$
416.6

 

$
828.9

 

$
811.3

 

Operating Income:

 

 

 

 

 

 

 

 

 

Ocean transportation

 

$
32.8

 

$
34.3

 

$
42.2

 

$
52.8

 

Logistics

 
2.9

 
2.2

 
3.4

 
2.4

 

Total operating income

 
35.7

 
36.5

 
45.6

 
55.2

 

Interest expense, net

 
(4.5

)
(3.6

)
(8.6

)
(7.3

)

Income before income taxes

 
31.2

 
32.9

 
37.0

 
47.9

 

Income taxes

 
(13.1

)
(12.8

)
(15.5

)
(18.7

)

Net income

 

$
18.1

 

$
20.1

 

$
21.5

 

$
29.2