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Business Segments | 9 Months Ended
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Sep. 30, 2014
Business Segments |
Business Segments | 9.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. Our results of operations include (i) the results of the acquisition of all of the outstanding stock of Watson Petroleum in our land segment commencing on March 7, 2014, its acquisition date, and (ii) the results of the acquisition of all of the outstanding stock of Colt in our aviation segment commencing on July 29, 2014, 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 |  | For the Nine Months ended
|  | September 30, |  | September 30,
Revenue: |  | 2014 |  | 2013 |  | 2014 |  | 2013
Aviation segment |  | $ | 4,675,530 |  | $ | 4,179,018 |  | $ | 13,361,838 |  | $ | 11,854,676
Marine segment |  |  | 3,725,612 |  |  | 3,575,777 |  |  | 10,738,646 |  |  | 11,260,025
Land segment |  |  | 3,312,321 |  |  | 2,738,866 |  |  | 9,506,350 |  |  | 8,042,593
|  | $ | 11,713,463 |  | $ | 10,493,661 |  | $ | 33,606,834 |  | $ | 31,157,294
Gross profit: |  |  |  |  |  |  |  |  |  |  |  |
Aviation segment |  | $ | 96,235 |  | $ | 89,758 |  | $ | 246,980 |  | $ | 242,783
Marine segment |  |  | 49,404 |  |  | 40,223 |  |  | 146,087 |  |  | 134,237
Land segment |  |  | 68,969 |  |  | 56,360 |  |  | 201,089 |  |  | 180,158
|  | $ | 214,608 |  | $ | 186,341 |  | $ | 594,156 |  | $ | 557,178
Income from operations: |  |  |  |  |  |  |  |  |  |  |  |
Aviation segment |  | $ | 47,330 |  | $ | 41,002 |  | $ | 114,553 |  | $ | 109,755
Marine segment |  |  | 20,933 |  |  | 17,019 |  |  | 62,903 |  |  | 56,340
Land segment |  |  | 19,108 |  |  | 15,106 |  |  | 60,020 |  |  | 63,608
|  |  | 87,371 |  |  | 73,127 |  |  | 237,476 |  |  | 229,703
Corporate overhead - unallocated |  |  | 13,268 |  |  | 8,924 |  |  | 39,257 |  |  | 29,823
|  | $ | 74,103 |  | $ | 64,203 |  | $ | 198,219 |  | $ | 199,880
Information concerning our accounts receivable, net and total assets by segment is as follows (in thousands):
|  | As of
|  | September 30, |  | December 31,
|  | 2014 |  | 2013
Accounts receivable, net: |  |  |  |  |  |
Aviation segment, net of allowance for bad debt of $7,121 and $9,351 as of September 30, 2014 and December 31, 2013, respectively |  | $ | 833,478 |  | $ | 771,178
Marine segment, net of allowance for bad debt of $10,063 and $9,845 as of September 30, 2014 and December 31, 2013, respectively |  |  | 1,243,994 |  |  | 1,205,005
Land segment, net of allowance for bad debt of $10,845 and $9,992 as of September 30, 2014 and December 31, 2013, respectively |  |  | 759,578 |  |  | 562,459
|  | $ | 2,837,050 |  | $ | 2,538,642
Total assets: |  |  |  |  |  |
Aviation segment |  | $ | 1,878,198 |  | $ | 1,708,569
Marine segment |  |  | 1,680,701 |  |  | 1,553,267
Land segment |  |  | 1,784,749 |  |  | 1,304,436
Corporate |  |  | 180,017 |  |  | 173,005
|  | $ | 5,523,665 |  | $ | 4,739,277

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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 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 3: 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 4: 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 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 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 7: 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 8: 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 Reference 9: 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 10: 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 11: 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 12: 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 13: 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 14: 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 + Details
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