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REPORTABLE SEGMENTS (Tables)

12 Months Ended

Dec. 31, 2022

REPORTABLE SEGMENTS

Schedule of reportable segment financial information

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​	​	​	​	​	​	​	​	​	​
​	​	Years Ended December 31,
(In millions)		2022			2021			2020
Operating Revenue:	​	​	​	​	​	​	​	​	​
Ocean Transportation (1)	​	$	3,544.6	​	$	3,132.8	​	$	1,853.9
Logistics (2)	​		798.4	​		792.5	​		529.4
Total Operating Revenue	​	$	4,343.0	​	$	3,925.3	​	$	2,383.3
Operating Income:	​	​	​	​	​	​	​	​	​
Ocean Transportation (3)	​	$	1,281.2	​	$	1,137.7	​	$	244.8
Logistics	​		72.4	​		49.8	​		35.5
Total Operating Income	​		1,353.6	​		1,187.5	​		280.3
Interest income	​	​	8.2	​	​	—	​	​	—
Interest expense	​		(18.0)	​		(22.6)	​		(27.4)
Other income (expense), net	​		8.5	​		6.4	​		6.1
Income before Taxes	​		1,352.3	​		1,171.3	​		259.0
Income taxes	​		(288.4)	​		(243.9)	​		(65.9)
Net Income	​	$	1,063.9	​	$	927.4	​	$	193.1
​	​	​	​	​	​	​	​	​	​
Capital Expenditures:	​	​	​	​	​	​	​	​	​
Ocean Transportation	​	$	190.9	​	$	322.4	​	$	190.0
Logistics	​		18.4	​		2.9	​		2.3
Total Capital Expenditures	​	$	209.3	​	$	325.3	​	$	192.3
​	​	​	​	​	​	​	​	​	​
Depreciation and Amortization:	​	​	​	​	​	​	​	​	​
Ocean Transportation	​	$	133.2	​	$	128.6	​	$	107.4
Logistics	​		8.1	​		7.3	​		7.5
​	​	​	141.3	​	​	135.9	​	​	114.9
Deferred dry-docking amortization - Ocean Transportation	​	​	24.9	​	​	24.3	​	​	25.1
Total Depreciation and Amortization	​	$	166.2	​	$	160.2	​	$	140.0

(1) Ocean Transportation operating revenue excludes inter-segment revenue of $93.6 million, $81.0 million and $59.1 million for the years ended December 31, 2022, 2021 and 2020, respectively.

(2) Logistics operating revenue excludes inter-segment revenue of $177.3 million, $132.8 million and $56.4 million for the years ended December 31, 2022, 2021 and 2020, respectively.

(3) Ocean Transportation segment information includes $83.1 million, $56.3 million, and $26.3 million of equity in income from the Company’s equity investment in SSAT for the years ended December 31, 2022, 2021 and 2020, respectively.

​

​	​	​	​	​	​	​
​	​	As of December 31,
(In millions)		2022			2021
Identifiable Assets:	​	​	​	​	​	​
Ocean Transportation (1)	​	$	3,705.2	​	$	3,096.6
Logistics	​		624.8	​		596.5
Total Assets	​	$	4,330.0	​	$	3,693.1

(1) The Ocean Transportation segment includes $81.2 million and $58.7 million related to the Company’s equity investment in SSAT as of December 31, 2022 and 2021, respectively.

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Publisher FASB
-Name Accounting Standards Codification
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
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-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

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