XML 30 R18.htm IDEA: XBRL DOCUMENT v3.21.2
Business Segments
6 Months Ended
Jun. 30, 2021
Segment Reporting [Abstract]  
Business Segments
9. 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.
Information concerning our Revenue, Gross profit and Income from operations by reportable segment is as follows (in millions):
Three Months Ended June 30,Six Months Ended June 30,
Revenue:2021202020212020
Aviation segment$2,805.8 $1,020.6 $4,900.8 $4,784.8 
Land segment2,457.2 1,197.6 4,645.4 3,303.6 
Marine segment1,822.4 940.2 3,497.1 3,085.2 
Total revenue$7,085.5 $3,158.3 $13,043.4 $11,173.5 
Gross profit:
Aviation segment$87.4 $91.9 $164.1 $185.0 
Land segment73.8 84.8 163.3 191.0 
Marine segment22.7 37.2 48.2 96.6 
Total gross profit$183.9 $213.9 $375.5 $472.6 
Income from operations:
Aviation segment$34.0 $9.0 $57.0 $38.1 
Land segment8.1 9.7 40.9 35.3 
Marine segment4.8 13.3 11.1 47.2 
Corporate overhead - unallocated(15.9)(20.1)(40.5)(37.9)
Total income from operations$30.9 $11.9 $68.6 $82.7 
Information concerning our Accounts receivable, net of allowance for credit losses and Total assets by reportable segment is as follows (in millions):
June 30, 2021December 31, 2020
Accounts receivable, net:
Aviation segment, net of allowance for credit losses of $26.4 and $41.2 as of June 30, 2021 and December 31, 2020, respectively
$700.6 $464.7 
Land segment, net of allowance for credit losses of $3.6 and $5.0 as of June 30, 2021 and December 31, 2020, respectively
533.4 394.5 
Marine segment, net of allowance for credit losses of $6.2 and $7.6 as of June 30, 2021 and December 31, 2020, respectively
601.0 379.2 
Total accounts receivable, net$1,835.0 $1,238.4 
Total assets:  
Aviation segment$2,054.4 $1,789.5 
Land segment1,652.4 1,459.5 
Marine segment977.8 667.6 
Corporate565.1 583.7 
Total assets$5,249.8 $4,500.3