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QUARTERLY INFORMATION (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2020

QUARTERLY INFORMATION (Unaudited)

Schedule of quarterly financial information


		Quarters in the Year Ended December 31, 2020
(In millions, except per share amounts)		Q1			Q2			Q3			Q4
Operating Revenue:
Ocean Transportation		$	400.9		$	410.8		$	498.3		$	543.9
Logistics			113.0			113.3			146.9			156.2
Total Operating Revenue		$	513.9		$	524.1		$	645.2		$	700.1
Operating Income:
Ocean Transportation		$	7.9		$	42.3		$	86.5		$	108.1
Logistics			5.1			8.9			11.9			9.6
Total Operating Income			13.0			51.2			98.4			117.7
Interest expense, net			(8.6)			(8.2)			(5.7)			(4.9)
Other income (expense), net			0.6			1.5			2.4			1.6
Income before Income Taxes			5.0			44.5			95.1			114.4
Income Taxes			(1.2)			(11.7)			(24.2)			(28.8)
Net Income		$	3.8		$	32.8		$	70.9		$	85.6

Basic Earnings Per Share:		$	0.09		$	0.76		$	1.65		$	1.99
Diluted Earnings Per Share:		$	0.09		$	0.76		$	1.63		$	1.96


		Quarters in the Year Ended December 31, 2019
(In millions, except per share amounts)		Q1			Q2			Q3			Q4
Operating Revenue:
Ocean Transportation		$	397.9		$	415.4		$	437.2		$	416.1
Logistics			134.5			142.5			134.9			124.6
Total Operating Revenue		$	532.4		$	557.9		$	572.1		$	540.7
Operating Income:
Ocean Transportation		$	9.4		$	19.7		$	43.9		$	17.8
Logistics			8.1			11.3			11.3			7.6
Total Operating Income			17.5			31.0			55.2			25.4
Interest expense, net			(4.6)			(6.1)			(6.2)			(5.6)
Other income (expense), net			0.6			0.8			(0.5)			0.3
Income before Income Taxes			13.5			25.7			48.5			20.1
Income Taxes			(1.0)			(7.3)			(12.3)			(4.5)
Net Income		$	12.5		$	18.4		$	36.2		$	15.6

Basic Earnings Per Share:		$	0.29		$	0.43		$	0.84		$	0.36
Diluted Earnings Per Share:		$	0.29		$	0.43		$	0.84		$	0.36

Schedule of infrequent transactions impacting the segment results

The following infrequent transactions impacted the Company’s quarterly segment results during the year ended December 31, 2019. There were no infrequent transactions recorded during the year ended December 31, 2020.


		Quarters in the Year Ended December 31, 2019
(In millions)		Q1			Q2			Q3			Q4
Income taxes - Discrete adjustments related to the Tax Act (1)		$	2.9		$	—		$	—		$	—

(1)	Amounts relate to discrete adjustments as a result of applying the Tax Act during the year ended December 31, 2019.