XML 24 R10.htm IDEA: XBRL DOCUMENT
v3.10.0.1

REPORTABLE SEGMENTS | 12 Months Ended
--- | ---
Dec. 31, 2018
REPORTABLE SEGMENTS |
REPORTABLE SEGMENTS | 3.REPORTABLE SEGMENTS Reportable segments are components of an enterprise that engage in business activities from which it may earn revenues and incur expenses, whose operating results are regularly reviewed by the chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance, and for which discrete financial information is available. The Company’s chief operating decision maker is its Chief Executive Officer. The Company consists of two reportable segments, Ocean Transportation and Logistics, which are further described in Note 1. Reportable segments are measured based on operating income. 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. The Company’s Terminal Joint Venture segment has been aggregated into the Company’s Ocean Transportation segment due to the operations of the Terminal Joint Venture being an integral part of the Company’s Ocean Transportation business (see Note 4). Included in the reportable segment information below are 52 weeks in the 2018 and 2017 fiscal years, and 53 weeks in the 2016 fiscal year. The Company’s Ocean Transportation segment provides ocean transportation services to the Logistics segment, and the Logistics segment provides logistics services to the Ocean Transportation segment. Accordingly, inter-segment revenue of $95.4 million, $81.3 million and $62.0 million for the years ended December 31, 2018, 2017 and 2016, respectively, have been eliminated from Logistics’ operating revenues due to the nature of how those services were performed. Reportable segment financial information for the years ended December 31, 2018, 2017 and 2016, and identifiable asset segment information at December 31, 2018 and 2017, are as follows:
|  | Years Ended December 31,
(In millions) |  | 2018 |  | 2017 |  | 2016
Operating Revenue: |  |  |  |  |  |  |  |  |
Ocean Transportation |  | $ | 1,641.3 |  | $ | 1,571.8 |  | $ | 1,541.1
Logistics |  |  | 581.5 |  |  | 475.1 |  |  | 400.5
Total Operating Revenue |  | $ | 2,222.8 |  | $ | 2,046.9 |  | $ | 1,941.6
Operating Income: |  |  |  |  |  |  |  |  |
Ocean Transportation (1) |  | $ | 131.1 |  | $ | 126.4 |  | $ | 144.5
Logistics (2) |  |  | 32.7 |  |  | 20.9 |  |  | 12.2
Total Operating Income |  |  | 163.8 |  |  | 147.3 |  |  | 156.7
Interest expense, net |  |  | (18.7) |  |  | (24.2) |  |  | (24.1)
Other income (expense), net |  |  | 2.6 |  |  | 2.1 |  |  | (2.1)
Income before Income Taxes |  |  | 147.7 |  |  | 125.2 |  |  | 130.5
Income taxes (3) |  |  | (38.7) |  |  | 105.8 |  |  | (49.1)
Net Income (3) |  | $ | 109.0 |  | $ | 231.0 |  | $ | 81.4
Capital Expenditures: |  |  |  |  |  |  |  |  |
Ocean Transportation |  | $ | 385.4 |  | $ | 305.3 |  | $ | 179.1
Logistics |  |  | 15.8 |  |  | 1.7 |  |  | 0.3
Total Capital Expenditures |  | $ | 401.2 |  | $ | 307.0 |  | $ | 179.4
Depreciation and Amortization: |  |  |  |  |  |  |  |  |
Ocean Transportation |  | $ | 87.0 |  | $ | 93.3 |  | $ | 92.6
Logistics |  |  | 7.4 |  |  | 7.9 |  |  | 4.5
|  |  | 94.4 |  |  | 101.2 |  |  | 97.1
Deferred dry-docking amortization - Ocean Transportation |  |  | 37.4 |  |  | 46.2 |  |  | 38.9
Total Depreciation and Amortization |  | $ | 131.8 |  | $ | 147.4 |  | $ | 136.0
| (1) |  | Ocean Transportation segment information includes $36.8 million, $28.2 million, and $15.8 million of equity in income from the Company’s equity investment in SSAT for the years ended December 31, 2018, 2017, and 2016, respectively.
| (2) |  | Logistics segment information includes the operations of Span Alaska acquired as of August 4, 2016.
| (3) |  | Income taxes and net income were adjusted for an immaterial correction of an error for the year ended December 31, 2017 (see Note 2).
|  | As of December 31,
(In millions) |  | 2018 |  | 2017
Identifiable Assets: |  |  |  |  |  |
Ocean Transportation (1) (2) |  | $ | 2,071.6 |  | $ | 1,941.5
Logistics |  |  | 358.8 |  |  | 310.1
Total Assets (2) |  | $ | 2,430.4 |  | $ | 2,251.6
| (1) |  | The Ocean Transportation segment includes $87.0 million and $93.2 million related to the Company’s equity investment in SSAT as of December 31, 2018 and 2017, respectively.
| (2) |  | Amounts as of December 31, 2017 have been adjusted for an immaterial correction of an error (see Note 2).

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration