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REPORTABLE SEGMENTS (Tables) | 12 Months Ended
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Dec. 31, 2023
REPORTABLE SEGMENTS |
Schedule of reportable segment financial information | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years Ended December 31,
(In millions) |  | 2023 |  | 2022 |  | 2021
Operating Revenue: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Ocean Transportation (1) | ​ | $ | 2,477.0 | ​ | $ | 3,544.6 | ​ | $ | 3,132.8
Logistics (2) | ​ |  | 617.6 | ​ |  | 798.4 | ​ |  | 792.5
Total Operating Revenue | ​ | $ | 3,094.6 | ​ | $ | 4,343.0 | ​ | $ | 3,925.3
Operating Income: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Ocean Transportation (3) | ​ | $ | 294.8 | ​ | $ | 1,281.2 | ​ | $ | 1,137.7
Logistics | ​ |  | 48.0 | ​ |  | 72.4 | ​ |  | 49.8
Total Operating Income | ​ |  | 342.8 | ​ |  | 1,353.6 | ​ |  | 1,187.5
Interest income | ​ | ​ | 36.0 | ​ | ​ | 8.2 | ​ | ​ | —
Interest expense | ​ |  | (12.2) | ​ |  | (18.0) | ​ |  | (22.6)
Other income (expense), net | ​ |  | 6.4 | ​ |  | 8.5 | ​ |  | 6.4
Income before Taxes | ​ |  | 373.0 | ​ |  | 1,352.3 | ​ |  | 1,171.3
Income taxes | ​ |  | (75.9) | ​ |  | (288.4) | ​ |  | (243.9)
Net Income | ​ | $ | 297.1 | ​ | $ | 1,063.9 | ​ | $ | 927.4
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Capital Expenditures: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Ocean Transportation | ​ | $ | 240.2 | ​ | $ | 190.9 | ​ | $ | 322.4
Logistics | ​ |  | 8.2 | ​ |  | 18.4 | ​ |  | 2.9
Total Capital Expenditures | ​ | $ | 248.4 | ​ | $ | 209.3 | ​ | $ | 325.3
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Depreciation and Amortization: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Ocean Transportation | ​ | $ | 132.8 | ​ | $ | 133.2 | ​ | $ | 128.6
Logistics | ​ |  | 11.6 | ​ |  | 8.1 | ​ |  | 7.3
​ | ​ | ​ | 144.4 | ​ | ​ | 141.3 | ​ | ​ | 135.9
Deferred dry-docking amortization - Ocean Transportation | ​ | ​ | 25.3 | ​ | ​ | 24.9 | ​ | ​ | 24.3
Total Depreciation and Amortization | ​ | $ | 169.7 | ​ | $ | 166.2 | ​ | $ | 160.2
(1) | Ocean Transportation operating revenue excludes inter-segment revenue of $76.5 million, $93.6 million and $81.0 million for the years ended December 31, 2023, 2022 and 2021, respectively.
(2) | Logistics operating revenue excludes inter-segment revenue of $132.2 million, $177.3 million and $132.8 million for the years ended December 31, 2023, 2022 and 2021, respectively.
(3) | Ocean Transportation segment information includes $2.2 million, $83.1 million, and $56.3 million of income from the Company’s investment in SSAT for the years ended December 31, 2023, 2022 and 2021, respectively.
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of December 31,
(In millions) |  | 2023 |  | 2022
Identifiable Assets: | ​ | ​ | ​ | ​ | ​ | ​
Ocean Transportation (1) | ​ | $ | 3,645.3 | ​ | $ | 3,705.2
Logistics | ​ |  | 649.3 | ​ |  | 624.8
Total Assets | ​ | $ | 4,294.6 | ​ | $ | 4,330.0
(1) | The Ocean Transportation segment includes $85.5 million and $81.2 million related to the Company’s investment in SSAT as of December 31, 2023 and 2022, 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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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