XML 44 R16.htm IDEA: XBRL DOCUMENT v2.4.0.6
Business Segments
 3 Months Ended
Mar. 31, 2012
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.  The results of operations of Nordic Camp Supply ApS and certain affiliates (“NCS”) are included in our aviation segment commencing on March 1, 2011, its acquisition date, and since January 1, 2012, a portion of NCS activity is now included in our land segment.  The results of operations include the results of Ascent in our aviation segment commencing on April 1, 2011, its acquisition date.  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

 

 

 

March 31,

 

 

 

2012

 

2011

 

Revenue:

 

 

 

 

 

Aviation segment

 

$

3,411,547

 

$

2,646,592

 

Marine segment

 

3,904,191

 

2,999,419

 

Land segment

 

2,163,317

 

1,433,395

 

 

 

$

9,479,055

 

$

7,079,406

 

 

 

 

 

 

 

Gross profit:

 

 

 

 

 

Aviation segment

 

$

64,914

 

$

70,128

 

Marine segment

 

55,077

 

40,215

 

Land segment

 

37,244

 

26,425

 

 

 

$

157,235

 

$

136,768

 

 

 

 

 

 

 

Income from operations:

 

 

 

 

 

Aviation segment

 

$

26,833

 

$

38,170

 

Marine segment

 

27,445

 

17,355

 

Land segment

 

16,200

 

10,663

 

 

 

70,478

 

66,188

 

Corporate overhead – unallocated

 

11,222

 

10,663

 

 

 

$

59,256

 

$

55,525

 

 

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

 

 

 

As of

 

 

 

March 31,

 

December 31,

 

 

 

2012

 

2011

 

Accounts receivable, net:

 

 

 

 

 

Aviation segment, net of allowance for bad debt of $8,419 and $8,441 as of March 31, 2012 and December 31, 2011, respectively

 

$

608,959

 

$

569,086

 

Marine segment, net of allowance for bad debt of $9,422 and $9,495 as of March 31, 2012 and December 31, 2011, respectively

 

1,260,189

 

1,261,340

 

Land segment, net of allowance for bad debt of $6,456 and $6,365 as of March 31, 2012 and December 31, 2011, respectively

 

420,937

 

330,135

 

 

 

$

2,290,085

 

$

2,160,561

 

 

 

 

 

 

 

Total assets:

 

 

 

 

 

Aviation segment

 

$

1,290,714

 

$

1,149,031

 

Marine segment

 

1,573,637

 

1,568,378

 

Land segment

 

932,108

 

816,595

 

Corporate

 

129,345

 

163,242

 

 

 

$

3,925,804

 

$

3,697,246