Segment Information (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of Segment Reporting Information

The following table presents segment revenues and contributions with a reconciliation to (Loss) income before income tax benefit for the years ended December 31, 2021, 2020 and 2019:


	Years Ended December 31,
	2021		2020		2019
	(In thousands)
Segment revenues:
Warehouse	$	2,085,387	$	1,549,314	$	1,377,217
Third-party managed	317,311		291,751		252,939
Transportation	312,092		142,203		144,844
Other	—		4,459		8,705
Total revenues	2,714,790		1,987,727		1,783,705

Segment contribution:
Warehouse	586,436		520,333		447,591
Third-party managed	13,964		12,228		11,761
Transportation	29,376		18,807		18,067
Other	(109)		130		838
Total segment contribution	629,667		551,498		478,257

Reconciling items:
Depreciation and amortization	(319,840)		(215,891)		(163,348)
Selling, general and administrative	(182,076)		(144,738)		(129,310)
Acquisition, litigation and other	(51,578)		(36,306)		(40,614)
Impairment of long-lived assets	(3,312)		(8,236)		(13,485)
Gain (loss) from sale of real estate	—		22,124		(34)
Interest expense	(99,177)		(91,481)		(94,408)
Interest income	841		1,162		6,286
Bridge loan commitment fees	—		(2,438)		(2,665)
Loss on debt extinguishment, modifications and termination of derivative instruments	(5,689)		(9,975)		—
Foreign currency exchange (loss) gain, net	(610)		(45,278)		10
Other income (expense), net	1,900		(2,563)		(1,870)
Loss from partially owned entities	(2,004)		(250)		(111)
Gain from sale of partially owned entities	—		—		4,297

(Loss) income before income tax benefit	$	(31,878)	$	17,628	$	43,005

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 Consolidated Balance Sheets.


	Years Ended December 31,
	2021		2020
	(In thousands)
Assets:
Warehouse	$	7,821,426	$	4,815,587
Third-party managed	48,497		52,818
Transportation	218,252		151,872
Other	—		35
Total segments assets	8,088,175		5,020,312

Reconciling items:
Corporate assets	90,564		621,836
Unallocated acquisitions(1)	—		2,144,096
Investments in partially owned entities	37,458		44,907
Total reconciling items	128,022		2,810,839
Total assets	$	8,216,197	$	7,831,151

(1) The assets acquired in 2020 related to the Agro acquisition were reflected in the above table within the row titled ‘Unallocated Acquisitions’ as the acquired assets had not yet been assigned to the respective segments as of December 31, 2020 given the short period of time between the acquisition date, December 30, 2020, and year-end. The assets were assigned to the Warehouse and Transportation segments during the measurement period.