XML 34 R15.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Business Segments
 6 Months Ended
Jun. 30, 2011
Business Segments  
Business Segments

8.     Business Segments

 

Based on the nature of operations and quantitative thresholds pursuant to accounting guidance for segment reporting, we have three reportable operating business segments: aviation, marine and land.  Corporate expenses are allocated to the segments based on usage, where possible, or on other factors according to the nature of the activity.   Please refer to Note 1 for the dates that the results of operations and related assets and liabilities of our acquisitions have been included in our operating segments. The accounting policies of the reportable operating segments are the same as those described in the Summary of Significant Accounting Policies (see Note 1).

 

Information concerning our revenue, gross profit and income from operations by segment is as follows (in thousands):

 

 

 

For the Three Months ended

 

For the Six Months ended

 

 

 

June 30,

 

June 30,

 

 

 

2011

 

2010

 

2011

 

2010

 

Revenue:

 

 

 

 

 

 

 

 

 

Aviation segment

 

$

3,364,829

 

$

1,691,042

 

$

6,011,421

 

$

3,150,766

 

Marine segment

 

3,532,983

 

2,276,651

 

6,532,402

 

4,375,263

 

Land segment

 

1,810,897

 

429,582

 

3,244,292

 

789,267

 

 

 

$

8,708,709

 

$

4,397,275

 

$

15,788,115

 

$

8,315,296

 

 

 

 

 

 

 

 

 

 

 

Gross profit:

 

 

 

 

 

 

 

 

 

Aviation segment

 

$

82,027

 

$

52,887

 

$

152,155

 

$

101,262

 

Marine segment

 

50,674

 

43,204

 

90,889

 

82,593

 

Land segment

 

32,401

 

11,478

 

58,826

 

22,532

 

 

 

$

165,102

 

$

107,569

 

$

301,870

 

$

206,387

 

 

 

 

 

 

 

 

 

 

 

Income from operations:

 

 

 

 

 

 

 

 

 

Aviation segment

 

$

37,624

 

$

28,701

 

$

75,794

 

$

55,395

 

Marine segment

 

25,763

 

23,972

 

43,118

 

43,980

 

Land segment

 

14,026

 

1,780

 

24,689

 

4,128

 

 

 

77,413

 

54,453

 

143,601

 

103,503

 

Corporate overhead

 

11,310

 

9,389

 

21,973

 

16,314

 

 

 

$

66,103

 

$

45,064

 

$

121,628

 

$

87,189

 

 

Information concerning our accounts receivable and total assets by segment is as follows (in thousands):

 

 

 

As of

 

 

 

June 30,

 

December 31,

 

 

 

2011

 

2010

 

Accounts receivable, net:

 

 

 

 

 

Aviation segment, net of allowance for bad debt of $8,787 and $7,363 at June 30, 2011 and December 31, 2010, respectively

 

$

635,729

 

$

420,788

 

Marine segment, net of allowance for bad debt of $8,129 and $7,761 at June 30, 2011 and December 31, 2010, respectively

 

1,068,220

 

761,629

 

Land segment, net of allowance for bad debt of $5,818 and $5,077 at June 30, 2011 and December 31, 2010, respectively

 

279,013

 

204,283

 

 

 

$

1,982,962

 

$

1,386,700

 

 

 

 

 

 

 

Total assets:

 

 

 

 

 

Aviation segment

 

$

1,183,941

 

$

740,563

 

Marine segment

 

1,374,837

 

1,000,042

 

Land segment

 

679,509

 

524,592

 

Corporate

 

123,771

 

301,253

 

 

 

$

3,362,058

 

$

2,566,450