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REPORTABLE SEGMENTS
 6 Months Ended
Jun. 30, 2015
REPORTABLE SEGMENTS  
REPORTABLE SEGMENTS

11.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 months ended June 30, 2015 and 2014 were as follows (in millions):

 

 

 

Three Months Ended

 

Six Months Ended

 

 

 

June 30

 

June 30

 

 

 

2015

 

2014

 

2015

 

2014

 

Revenue:

 

 

 

 

 

 

 

 

 

Ocean Transportation

 

$
346.7

 

$
321.1

 

$
652.2

 

$
615.7

 

Logistics

 
100.9

 
115.3

 
193.6

 
213.2

 

 

 

 

 

 

 

 

 

 

 

Total Revenue

 

$
447.6

 

$
436.4

 

$
845.8

 

$
828.9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating Income:

 

 

 

 

 

 

 

 

 

Ocean Transportation

 

$
31.4

 

$
32.8

 

$
75.3

 

$
42.2

 

Logistics

 
2.3

 
2.9

 
3.3

 
3.4

 

 

 

 

 

 

 

 

 

 

 

Total Operating Income

 
33.7

 
35.7

 
78.6

 
45.6

 

Interest expense, net

 
(4.6

)
(4.5

)
(8.9

)
(8.6

)

 

 

 

 

 

 

 

 

 

 

Income before Income Taxes

 
29.1

 
31.2

 
69.7

 
37.0

 

Income taxes

 
(19.2

)
(13.1

)
(34.8

)
(15.5

)

 

 

 

 

 

 

 

 

 

 

Net Income

 

$
9.9

 

$
18.1

 

$
34.9

 

$
21.5