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Business Segments, Geographic Information, and Major Customers | 12 Months Ended
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Dec. 31, 2023
Segment Reporting [Abstract] |
Business Segments, Geographic Information, and Major Customers | 14. Business Segments, Geographic Information, and Major Customers Business Segments We operate in three reportable segments consisting of aviation, land, and marine. Our operating segments are determined based on the different markets in which we provide products and services, which are defined primarily by the customers (businesses and governmental) and the products and services provided to those customers. We use Income from operations as our primary measure of profit as we believe it is the most meaningful measure to allocate resources and assess the performance or our segments. In our aviation segment, we provide global aviation fuel supply and comprehensive services solutions to major commercial airlines, second and third-tier airlines, cargo carriers, regional and low cost carriers, airports, fixed based operators, corporate fleets, charter and fractional operators, and private aircraft. We also supply fuel and provide services to U.S. and foreign government and military customers. In our land segment, we offer fuel, lubricants, heating oil, and related products and services to commercial, industrial, residential and government customers, as well as retail petroleum operators. We provide energy advisory services, sustainability solutions, as well as supply fulfillment for natural gas and power. In our marine segment, we market fuel, lubricants, and related products and services to a broad base of marine customers, including international container, dry bulk and tanker fleets, commercial cruise lines, yachts and time-charter operators, 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. Corporate expenses are allocated to the segments based on usage, where possible, or on other factors according to the nature of the activity. Information concerning our revenue, gross profit and income from operations by segment is as follows (in millions):
| For the Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Revenue: |  |  |  |  |
Aviation segment | $ | 23,275.1 |  |  | $ | 26,799.9 |  |  | $ | 12,824.3 |
Land segment | 15,189.9 |  |  | 19,283.7 |  |  | 10,426.8 |
Marine segment | 9,245.6 |  |  | 12,959.6 |  |  | 8,085.8 |
Total revenue | $ | 47,710.6 |  |  | $ | 59,043.1 |  |  | $ | 31,337.0 |
Income from operations:(1) |  |  |  |  |
Aviation segment | $ | 208.8 |  |  | $ | 99.5 |  |  | $ | 163.4 |
Land segment | 40.1 |  |  | 125.6 |  |  | 44.6 |
Marine segment | 82.3 |  |  | 155.5 |  |  | 20.7 |
Corporate overhead - unallocated | (133.2) |  |  | (107.4) |  |  | (86.1) |
Total income from operations | $ | 198.0 |  |  | $ | 273.2 |  |  | $ | 142.6 |
Depreciation and amortization: |  |  |  |  |
Aviation segment | $ | 32.0 |  |  | $ | 32.8 |  |  | $ | 32.7 |
Land segment | 61.3 |  |  | 65.1 |  |  | 39.0 |
Marine segment | 3.6 |  |  | 3.3 |  |  | 3.5 |
Corporate segment | 7.7 |  |  | 6.5 |  |  | 5.8 |
Total depreciation and amortization | $ | 104.5 |  |  | $ | 107.8 |  |  | $ | 81.0 |
Capital expenditures: |  |  |  |  |
Aviation segment | $ | 25.3 |  |  | $ | 25.9 |  |  | $ | 18.8 |
Land segment | 42.5 |  |  | 38.1 |  |  | 17.4 |
Marine segment | 8.7 |  |  | 4.8 |  |  | 2.7 |
Corporate segment | 11.1 |  |  | 9.9 |  |  | 0.1 |
Total capital expenditures | $ | 87.6 |  |  | $ | 78.6 |  |  | $ | 39.2 |
(1)Includes asset impairment and restructuring charges as discussed in Note 5. Fair Value Measurements and Note 15. Restructuring. Information concerning our accounts receivable, net, and total assets by segment is as follows (in millions):
| As of December 31,
| 2023 |  | 2022
Accounts receivable, net: |  |  |
Aviation segment, net of allowance for credit losses of $9.1 and $4.9 as of December 31, 2023 and 2022, respectively | $ | 1,285.7 |  |  | $ | 1,452.4 |
Land segment, net of allowance for credit losses of $6.3 and $5.8 as of December 31, 2023 and 2022, respectively | 767.4 |  |  | 1,141.9 |
Marine segment, net of allowance for credit losses of $2.9 and $3.4 as of December 31, 2023 and 2022, respectively | 682.4 |  |  | 699.8 |
Total accounts receivable, net | $ | 2,735.5 |  |  | $ | 3,294.1 |
Total assets: |  |  |
Aviation segment | $ | 2,767.4 |  |  | $ | 3,036.2 |
Land segment | 3,323.4 |  |  | 3,710.1 |
Marine segment | 992.8 |  |  | 1,007.4 |
Corporate | 291.8 |  |  | 410.8 |
Total assets | $ | 7,375.3 |  |  | $ | 8,164.6 |
Geographic Information Information concerning our revenue and property and equipment, net, 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 millions):
| For the Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Revenue: |  |  |  |  |
United States | $ | 25,403.7 |  |  | $ | 32,901.7 |  |  | $ | 16,696.2 |
EMEA (1) | 10,003.2 |  |  | 12,396.1 |  |  | 6,735.7 |
Asia Pacific (2) | 5,430.7 |  |  | 7,076.6 |  |  | 4,620.0 |
Americas, excluding United States | 6,873.0 |  |  | 6,668.6 |  |  | 3,285.1 |
Total (3) | $ | 47,710.6 |  |  | $ | 59,043.1 |  |  | $ | 31,337.0 |
| As of December 31,
| 2023 |  | 2022
Property and equipment, net: |  |  |
United States | $ | 324.8 |  |  | $ | 323.7 |
EMEA | 147.7 |  |  | 138.1 |
Asia Pacific | 10.1 |  |  | 9.9 |
Americas, excluding United States | 32.7 |  |  | 12.6 |
Total | $ | 515.3 |  |  | $ | 484.2 |
(1)Includes revenue related to the U.K. of $5.3 billion, $6.7 billion and $4.2 billion for 2023, 2022 and 2021, respectively. (2)Includes revenue related to Singapore of $5.3 billion, $7.2 billion and $4.6 billion for 2023, 2022 and 2021, respectively. (3)Geographic revenue information in this table includes impacts from derivatives and hedging activities, which are excluded from that geographic revenue information presented at Note 9. Revenue from Contracts with Customers. Major Customers For the years ended December 31, 2023, 2022, and 2021, 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/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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