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Business Segments, Geographic Information, and Major Customers
 12 Months Ended
Dec. 31, 2013
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,
  
 
   2013
   2012
   2011
  
   

Revenue:

                    

Aviation segment

   $ 16,087,611   $ 14,692,042   $ 12,866,019  

Marine segment

     14,790,342     14,750,425     14,565,086  

Land segment

     10,683,994     9,502,871     7,191,749  
   

 

   $ 41,561,947   $ 38,945,338   $ 34,622,854  
   

Gross profit:

                    

Aviation segment

   $ 327,178   $ 294,601   $ 306,112  

Marine segment

     177,052     208,028     195,109  

Land segment

     248,528     170,818     133,782  
   

 

   $ 752,758   $ 673,447   $ 635,003  
   

Income from operations:

                    

Aviation segment

   $ 150,886   $ 128,153   $ 146,411  

Marine segment

     73,770     103,229     95,982  

Land segment

     84,767     75,291     62,049  
   

 

     309,423     306,673     304,442  

Corporate overhead – unallocated

     45,065     49,650     47,470  
   

 

   $ 264,358   $ 257,023   $ 256,972  
   

Depreciation and amortization:

                    

Aviation segment, includes allocation from corporate

   $ 15,854   $ 17,381   $ 23,392  

Marine segment, includes allocation from corporate

     5,362     5,387     3,942  

Land segment, includes allocation from corporate

     20,861     10,406     9,825  

Corporate

     2,633     3,540     3,371  
   

 

   $ 44,710   $ 36,714   $ 40,530  
   

Capital expenditures:

                    

Aviation segment

   $ 5,737   $ 4,713   $ 2,230  

Marine segment

     17,326     8,981     3,714  

Land segment

     54,360     7,243     3,031  

Corporate

     5,293     7,517     10,517  
   

 

   $ 82,716   $ 28,454   $ 19,492  
   

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,
  
 
   2013
   2012
  
   

Accounts receivable, net:

              

Aviation segment, net of allowance for bad debt of $9,351 and $8,997 as of December 31, 2013 and 2012, respectively

   $ 771,178   $ 674,973  

Marine segment, net of allowance for bad debt of $9,845 and $7,742 as of December 31, 2013 and 2012, respectively

     1,205,005     1,069,833  

Land segment, net of allowance for bad debt of $9,992 and $6,980 as of December 31, 2013 and 2012, respectively

     562,459     449,060  
   

 

   $ 2,538,642   $ 2,193,866  
   

Goodwill:

              

Aviation segment

   $ 115,507   $ 109,332  

Marine segment

     69,088     69,931  

Land segment

     298,996     291,243  
   

 

   $ 483,591   $ 470,506  
   

Identifiable intangible assets, net:

              

Aviation segment

   $ 31,632   $ 38,874  

Marine segment

     5,730     6,656  

Land segment

     129,840     126,743  
   

 

   $ 167,202   $ 172,273  
   

Total assets:

              

Aviation segment

   $ 1,686,437   $ 1,463,423  

Marine segment

     1,536,817     1,330,796  

Land segment

     1,304,436     1,145,756  

Corporate

     211,587     167,776  
   

 

   $ 4,739,277   $ 4,107,751  
   

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,
  
 
   2013
   2012
   2011
  
   

Revenue:

                    

Americas (1)

   $ 24,329,056   $ 23,293,260   $ 19,965,339  

EMEA (2)

     7,017,479     7,247,754     6,695,315  

Asia/Pacific (3)

     10,215,412     8,404,324     7,962,200  
   

Total

   $ 41,561,947   $ 38,945,338   $ 34,622,854  
   

Income from operations:

                    

Americas (4)

   $ 84,161   $ 103,005   $ 92,083  

EMEA

     109,650     82,964     76,881  

Asia/Pacific

     70,547     71,054     88,008  
   

Total

   $ 264,358   $ 257,023   $ 256,972  
   

 
   As of December 31,
  
 
   2013
   2012
  
   

Non-current assets:

              

Americas (5)

   $ 602,387   $ 610,434  

EMEA

     319,339     214,607  

Asia/Pacific

     2,050     1,333  
   

Total

   $ 923,776   $ 826,374  
   

Total assets:

              

Americas (6)

   $ 2,574,370   $ 2,273,945  

EMEA

     1,347,020     1,122,007  

Asia/Pacific

     817,887     711,799  
   

Total

   $ 4,739,277   $ 4,107,751  
   
(1)
Includes revenue related to the United States of $21.1 billion, $20.2 billion and $17.5 billion for 2013, 2012 and 2011, respectively.

(2)
Includes revenue related to the United Kingdom of $5.0 billion, $5.2 billion and $5.0 billion for 2013, 2012 and 2011, respectively.

(3)
Includes revenue related to Singapore of $10.1 billion, $8.4 billion and $8.0 billion for 2013, 2012 and 2011, respectively.

(4)
Includes income from operations related to the United States of $49.9 million, $67.0 million and $59.8 million for 2013, 2012 and 2011, respectively.

(5)
Includes non-current assets related to the United States of $560.6 million and $596.7 million as of December 31, 2013 and 2012, respectively.

(6)
Includes total assets related to the United States of $2.2 billion and $2.0 billion as of December 31, 2013 and 2012, 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.