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Business Segments, Geographic Information, and Major Customers | 12 Months Ended
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Dec. 31, 2012
Business Segments, Geographic Information, and Major Customers |
Business Segments, Geographic Information, and Major Customers | 11. Business Segments, Geographic Information, and Major Customers Business Segments Based on the nature of operations and quantitative thresholds pursuant to the accounting guidance on 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, income from operations, depreciation and amortization and capital expenditures by segment is as follows (in thousands):
|  | For the Year ended December 31, |
--- | --- | --- | ---
|  | 2012 |  | 2011 |  | 2010 |
Revenue: |  |  |  |  |  |  |  |  |  |
Aviation segment |  | $ | 14,692,042 |  | $ | 12,866,019 |  | $ | 7,132,749 |
Marine segment |  |  | 14,750,425 |  |  | 14,565,086 |  |  | 9,220,998 |
Land segment |  |  | 9,502,871 |  |  | 7,191,749 |  |  | 2,777,400 |
|  | $ | 38,945,338 |  | $ | 34,622,854 |  | $ | 19,131,147 |
Gross profit: |  |  |  |  |  |  |  |  |  |
Aviation segment |  | $ | 294,601 |  | $ | 306,112 |  | $ | 215,130 |
Marine segment |  |  | 208,028 |  |  | 195,109 |  |  | 165,344 |
Land segment |  |  | 170,818 |  |  | 133,782 |  |  | 61,667 |
|  | $ | 673,447 |  | $ | 635,003 |  | $ | 442,141 |
Income from operations: |  |  |  |  |  |  |  |  |  |
Aviation segment |  | $ | 128,153 |  | $ | 146,411 |  | $ | 118,351 |
Marine segment |  |  | 103,229 |  |  | 95,982 |  |  | 84,656 |
Land segment |  |  | 75,291 |  |  | 62,049 |  |  | 15,948 |
|  |  | 306,673 |  |  | 304,442 |  |  | 218,955 |
Corporate overhead – unallocated |  |  | 49,650 |  |  | 47,470 |  |  | 38,089 |
|  | $ | 257,023 |  | $ | 256,972 |  | $ | 180,866 |
Depreciation and amortization: |  |  |  |  |  |  |  |  |  |
Aviation segment, includes allocation from corporate |  | $ | 17,381 |  | $ | 23,392 |  | $ | 5,105 |
Marine segment, includes allocation from corporate |  |  | 5,387 |  |  | 3,942 |  |  | 4,178 |
Land segment, includes allocation from corporate |  |  | 10,406 |  |  | 9,825 |  |  | 7,362 |
Corporate |  |  | 3,540 |  |  | 3,371 |  |  | 2,461 |
|  | $ | 36,714 |  | $ | 40,530 |  | $ | 19,106 |
Capital expenditures: |  |  |  |  |  |  |  |  |  |
Aviation segment |  | $ | 4,713 |  | $ | 2,230 |  | $ | 510 |
Marine segment |  |  | 8,981 |  |  | 3,714 |  |  | 3,109 |
Land segment |  |  | 7,243 |  |  | 3,031 |  |  | 1,243 |
Corporate |  |  | 7,517 |  |  | 10,517 |  |  | 10,326 |
|  | $ | 28,454 |  | $ | 19,492 |  | $ | 15,188 |
Information concerning our accounts receivable, net, goodwill, identifiable intangible assets, net and total assets by segment is as follows (in thousands):
|  | As of December 31, |
--- | --- | --- | ---
|  | 2012 |  | 2011 |
Accounts receivable, net: |  |  |  |  |  |  |
Aviation segment, net of allowance for bad debt of $8,997 and $8,441 as of December 31, 2012 and 2011, respectively |  | $ | 674,973 |  | $ | 569,086 |
Marine segment, net of allowance for bad debt of $7,742 and $9,495 as of December 31, 2012 and 2011, respectively |  |  | 1,069,833 |  |  | 1,261,340 |
Land segment, net of allowance for bad debt of $6,980 and $6,365 as of December 31, 2012 and 2011, respectively |  |  | 449,060 |  |  | 330,135 |
|  | $ | 2,193,866 |  | $ | 2,160,561 |
Goodwill: |  |  |  |  |  |  |
Aviation segment |  | $ | 109,332 |  | $ | 102,509 |
Marine segment |  |  | 69,931 |  |  | 70,522 |
Land segment |  |  | 291,243 |  |  | 173,215 |
|  | $ | 470,506 |  | $ | 346,246 |
Identifiable intangible assets, net: |  |  |  |  |  |  |
Aviation segment |  | $ | 38,874 |  | $ | 42,880 |
Marine segment |  |  | 6,656 |  |  | 8,659 |
Land segment |  |  | 126,743 |  |  | 56,081 |
|  | $ | 172,273 |  | $ | 107,620 |
Total assets: |  |  |  |  |  |  |
Aviation segment |  | $ | 1,463,423 |  | $ | 1,149,031 |
Marine segment |  |  | 1,330,796 |  |  | 1,568,378 |
Land segment |  |  | 1,145,756 |  |  | 816,595 |
Corporate |  |  | 167,776 |  |  | 163,242 |
|  | $ | 4,107,751 |  | $ | 3,697,246 |
Geographic Information Information concerning our revenue, income from operations, non-current assets and total assets, as segregated between the Americas, EMEA (Europe, Middle East and Africa) and the Asia/Pacific regions, is presented as follows, based on the country of incorporation of the relevant subsidiary (in thousands):
|  | For the Year ended December 31, |
--- | --- | --- | ---
|  | 2012 |  | 2011 |  | 2010 |
Revenue: |  |  |  |  |  |  |  |  |  |
Americas (1) |  | $ | 23,293,260 |  | $ | 19,965,339 |  | $ | 10,250,360 |
EMEA (2) |  |  | 7,247,754 |  |  | 6,695,315 |  |  | 3,472,934 |
Asia/Pacific (3) |  |  | 8,404,324 |  |  | 7,962,200 |  |  | 5,407,853 |
|  | $ | 38,945,338 |  | $ | 34,622,854 |  | $ | 19,131,147 |
Income from operations: |  |  |  |  |  |  |  |  |  |
Americas (4) |  | $ | 103,005 |  | $ | 92,083 |  | $ | 38,419 |
EMEA |  |  | 82,964 |  |  | 76,881 |  |  | 59,249 |
Asia/Pacific |  |  | 71,054 |  |  | 88,008 |  |  | 83,198 |
|  | $ | 257,023 |  | $ | 256,972 |  | $ | 180,866 |
|  | As of December 31, |
--- | --- | --- | ---
|  | 2012 |  | 2011 |
Non-current assets: |  |  |  |  |  |  |
Americas (5) |  | $ | 610,434 |  | $ | 439,388 |
EMEA |  |  | 214,607 |  |  | 134,311 |
Asia/Pacific |  |  | 1,333 |  |  | 1,320 |
|  | $ | 826,374 |  | $ | 575,019 |
Total assets: |  |  |  |  |  |  |
Americas (6) |  | $ | 2,273,945 |  | $ | 1,975,561 |
EMEA |  |  | 1,122,007 |  |  | 946,789 |
Asia/Pacific |  |  | 711,799 |  |  | 774,896 |
|  | $ | 4,107,751 |  | $ | 3,697,246 |
(1) Includes revenue related to the United States of $20.2 billion, $17.5 billion and $8.7 billion for 2012, 2011 and 2010, respectively. (2) Includes revenue related to the United Kingdom of $5.2 billion, $5.0 billion and $2.6 billion for 2012, 2011 and 2010, respectively. (3) Includes revenue related to Singapore of $8.4 billion, $8.0 billion and $5.4 billion for 2012, 2011 and 2010, respectively. (4) Includes income from operations related to the United States of $67.0 million, $59.8 million and $1.6 million for 2012, 2011 and 2010, respectively. (5) Includes non-current assets related to the United States of $596.7 million and $425.2 million as of December 31, 2012 and 2011, respectively. (6) Includes total assets related to the United States of $2.0 billion and $1.7 billion as of December 31, 2012 and 2011, respectively. Major Customers During each of the years presented on the consolidated statements of income and comprehensive income, none of our customers accounted for more than 10% of total consolidated revenue.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 + Details
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