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Segment Reporting
 9 Months Ended
Sep. 30, 2020
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
We are organized into two reportable segments: Transportation and Logistics. We evaluate our performance in large part based on the various financial measures of our two reporting segments.
In our Transportation segment, we provide multiple services to facilitate the movement of raw materials, parts and finished goods. We accomplish this by using our proprietary technology, third-party independent carriers and our transportation assets and service centers. Our transportation services include truck brokerage, less-than-truckload (“LTL”), truckload, expedite, last mile, intermodal and drayage, managed transportation, and global forwarding. Freight brokerage, last mile, global forwarding and managed transportation are non-asset or asset-light businesses while LTL and truckload are primarily asset-based operations.
In our Logistics segment, which we also refer to as supply chain or contract logistics, we provide a wide range of services differentiated by our proprietary technology and our ability to customize solutions for individual customers. Our services include value-added warehousing and distribution, e-commerce and omnichannel fulfillment, cold-chain logistics, packaging and labeling, factory support, aftermarket support, inventory management, order personalization and supply chain optimization, such as product flow management. In addition, our Logistics segment provides reverse logistics, which is also called returns management.
Some of our operating units provide services to our other operating units outside of their reportable segment. Billings for such services are based on negotiated rates and are reflected as revenues of the billing segment. We adjust these rates from time to time based on market conditions. We eliminate intersegment revenues and expenses in our consolidated results.
Corporate includes corporate headquarters costs for executive officers and certain legal and financial functions, and other costs and credits not attributed to our reporting segments.
Our chief operating decision maker (“CODM”) regularly reviews financial information at the reporting segment level to allocate resources to the segments and to assess their performance. We include items directly attributable to a segment, and those that can be allocated on a reasonable basis, in segment results reported to the CODM. We do not provide asset information by segment to the CODM.
Selected financial data for our segments is as follows:
(In millions)TransportationLogisticsCorporateEliminations/OtherTotal
Three months ended September 30, 2020
Revenue$2,675 $1,580 $— $(34)$4,221 
Operating income (loss) (1)
202 77 (56)— 223 
Depreciation and amortization114 76 3 — 193 
Three months ended September 30, 2019
Revenue $2,684 $1,510 $— $(40)$4,154 
Operating income (loss) (2)
208 61 (40)— 229 
Depreciation and amortization 110 73 3 — 186 
Nine months ended September 30, 2020
Revenue$7,261 $4,421 $— $(95)$11,587 
Operating income (loss) (3)
307 72 (216)— 163 
Depreciation and amortization337 225 10 — 572 
Nine months ended September 30, 2019
Revenue $8,090 $4,530 $— $(108)$12,512 
Operating income (loss) (4)
579 168 (128)— 619 
Depreciation and amortization 334 201 11 — 546 
(1)Consolidated operating income for the three months ended September 30, 2020 includes $3 million of transaction and integration costs.
(2)Consolidated operating income for the three months ended September 30, 2019 includes $11 million of restructuring expense.
(3)Consolidated operating income for the nine months ended September 30, 2020 includes $93 million of transaction and integration costs and $53 million of restructuring expense.
(4)Consolidated operating income for the nine months ended September 30, 2019 includes $2 million of transaction and integration costs and $28 million of restructuring expense.
The transaction and integration costs for the first nine months of 2020 are primarily related to our previously announced exploration of strategic alternatives. The review of strategic alternatives was terminated in March 2020. For further information on our restructuring actions, see Note 4—Restructuring Charges. We also incurred in the third quarter and first nine months of 2020, net incremental and direct costs as a result of the COVID-19 pandemic, including costs for personal protective equipment, site cleanings and enhanced employee benefits, such as appreciation pay.