Segment Information (Tables)

3 Months Ended

Mar. 31, 2021

Schedule of Segment Reporting Information

The following table presents segment revenues and contributions with a reconciliation to income before income tax for the three months ended March 31, 2021 and 2020 (in thousands):


	Three Months Ended March 31,
	2021		2020
Segment revenues:
Warehouse	$	485,451	$	381,068
Third-party managed	73,072		64,921
Transportation	76,272		35,917
Other	—		2,163
Total revenues	634,795		484,069

Segment contribution:
Warehouse	146,181		126,773
Third-party managed	4,382		3,769
Transportation	6,703		4,805
Other	(26)		55
Total segment contribution	157,240		135,402

Reconciling items:
Depreciation and amortization	(77,211)		(51,604)
Selling, general and administrative	(45,052)		(36,893)
Acquisition, litigation and other	(20,751)		(1,688)

Gain from sale of real estate	—		2,461
Interest expense	(25,956)		(23,870)
Interest income	224		587

Loss on debt extinguishment, modifications and termination of derivative instruments	(3,499)		(781)
Foreign currency exchange gain (loss), net	173		(492)
Other expense, net	505		871
Loss from investments in partially owned entities	(700)		(27)

(Loss) income before income tax benefit (expense)	$	(15,027)	$	23,966

The following table details our assets by reportable segments, with a reconciliation to total assets reported for each of the periods presented in the accompanying Condensed Consolidated Balance Sheets.


	March 31, 2021		December 31, 2020
	(In thousands)
Assets:
Warehouse	$	4,870,508	$	4,815,587
Managed	49,894		52,818
Transportation	155,503		151,872
Other	—		35
Total segments assets	5,075,905		5,020,312

Reconciling items:
Corporate assets	243,635		621,836
Unallocated acquisitions(1)	2,178,092		2,144,096
Investments in partially owned entities	42,376		44,907
Total reconciling items	2,464,103		2,810,839
Total assets	$	7,540,008	$	7,831,151

(1) The assets acquired in 2020 related to the Agro acquisition are reflected in the tables above within the row titled ‘Unallocated Acquisitions’ as the acquired assets have not yet been assigned to the respective segments as of March 31, 2021. We expect the assets will be assigned to the Warehouse and Transportation segments during the measurement period.