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Business Segments
 6 Months Ended
Jun. 30, 2017
Segment Reporting [Abstract]  
Business Segments Business Segments
 
We operate in three reportable segments consisting of aviation, land and marine. Corporate expenses are allocated to the segments based on usage, where possible, or on other factors according to the nature of the activity. Our operating segments are determined based on the different markets in which we provide products and services, which are defined primarily by the customers and the products and services provided to those customers. Accordingly, our aviation, land and marine segments are organized based on the specific markets their functional business components serve, which are primarily businesses and governmental customers operating in those respective markets

In our aviation segment, we offer fuel and related products and services to major commercial airlines, second and third tier airlines, cargo carriers, regional and low cost carriers, airports, fixed based operators, corporate fleets, fractional operators, private aircraft, military fleets and the U.S. and foreign governments as well as intergovernmental organizations.

In our land segment, we offer fuel, lubricants, power and natural gas solutions through Kinect, our global energy management services platform, and related products and services to customers including petroleum distributors operating in the land transportation market, retail petroleum operators, and industrial, commercial, residential and government customers.

Our marine segment product and service offerings include fuel, lubricants and related products and services to a broad base of customers, including international container and tanker fleets, commercial cruise lines, yachts and time charter operators, offshore rig owners and operators, the U.S. and foreign governments as well as other fuel suppliers.

Within each of our segments we may enter into derivative contracts to mitigate the risk of market price fluctuations and also to offer our customers fuel pricing alternatives to meet their needs.
 
Information concerning our revenue, gross profit and income from operations by segment is as follows (in millions):
 
 
For the Three Months Ended
 
 
For the Six Months Ended
 
 
 
June 30,
 
 
June 30,
 
Revenue:
 
2017

 
2016

 
2017

 
2016

Aviation segment
 
$
3,508.4

 
$
2,621.6

 
$
6,825.8

 
$
4,841.0

Land segment
 
2,564.0

 
2,171.0

 
5,347.4

 
3,866.0

Marine segment
 
2,013.8

 
1,840.4

 
4,107.3

 
3,116.9

 
 
$
8,086.2

 
$
6,633.0

 
$
16,280.4

 
$
11,823.9

 
 
 
 
 
 
 
 
 
Gross profit:
 
 
 
 
 
 
 
 
Aviation segment
 
$
110.9

 
$
98.6

 
$
210.8

 
$
187.3

Land segment
 
87.2

 
80.2

 
185.0

 
173.9

Marine segment
 
32.9

 
39.7

 
66.6

 
78.8

 
 
$
231.0

 
$
218.5

 
$
462.4

 
$
440.0

Income from operations:
 
 
 
 
 
 
 
 
Aviation segment
 
$
49.7

 
$
37.2

 
$
90.2

 
$
71.2

Land segment
 
12.2

 
16.2

 
33.6

 
50.1

Marine segment
 
7.2

 
11.0

 
15.5

 
22.5

 
 
69.2

 
64.4

 
139.3

 
143.8

Corporate overhead - unallocated
 
(17.9
)
 
(18.8
)
 
(37.7
)
 
(37.2
)
 
 
$
51.2

 
$
45.6

 
$
101.6

 
$
106.6


 

Information concerning our accounts receivable, net and total assets by segment is as follows (in millions):
 
 
As of
 
 
 
June 30,

 
December 31,

 
 
2017

 
2016

Accounts receivable, net:
 
 
 
 
Aviation segment, net of allowance for bad debt of $6.9 and $6.6 as of June 30, 2017 and December 31, 2016, respectively
 
$
786.0

 
$
776.0

Land segment, net of allowance for bad debt of $9.2 and $8.2 as of June 30, 2017 and December 31, 2016, respectively
 
712.2

 
737.5

Marine segment, net of allowance for bad debt of $11.6 and $10.2 as of June 30, 2017 and December 31, 2016, respectively
 
743.3

 
830.5

 
 
$
2,241.4

 
$
2,344.0

Total assets:
 
 

 
 

Aviation segment
 
$
2,049.4

 
$
2,050.6

Land segment
 
1,913.8

 
1,928.5

Marine segment
 
1,169.7

 
1,287.7

Corporate
 
153.1

 
145.8

 
 
$
5,286.0

 
$
5,412.6