REPORTABLE SEGMENTS (Tables)

3 Months Ended

Mar. 31, 2026

REPORTABLE SEGMENTS

Schedule of reportable segment financial information

Reportable segment financial information for the three months ended March 31, 2026 and 2025 are as follows:

	Three Months Ended						Three Months Ended
	March 31, 2026						March 31, 2025
(In millions)	Ocean Transportation		Logistics		Total		Ocean Transportation		Logistics		Total
Operating Revenue (1)(2)	$	606.5	$	151.3	$	757.8	$	637.4	$	144.6	$	782.0
Operating Expenses:
Operating costs:
Direct cargo expense		(234.8)		—		(234.8)		(238.2)		—		(238.2)
Vessel operating expense		(138.7)		—		(138.7)		(147.4)		—		(147.4)
Operating overhead (3)		(81.7)		—		(81.7)		(87.1)		—		(87.1)
Direct operating costs		—		(126.5)		(126.5)		—		(117.8)		(117.8)
Depreciation and amortization		(39.1)		(3.1)		(42.2)		(37.2)		(3.4)		(40.6)
Total operating costs		(494.3)		(129.6)		(623.9)		(509.9)		(121.2)		(631.1)
Income from SSAT		5.0		—		5.0		6.6		—		6.6
General and administrative		(62.6)		(14.9)		(77.5)		(60.5)		(14.9)		(75.4)
Total Costs and Expenses		(551.9)		(144.5)		(696.4)		(563.8)		(136.1)		(699.9)
Operating Income:	$	54.6	$	6.8		61.4	$	73.6	$	8.5		82.1
Interest income						6.1						9.4
Interest expense, net						(1.6)						(1.7)
Other income (expense), net						2.0						2.4
Income before Taxes						67.9						92.2
Income taxes						(11.3)						(19.9)
Net Income					$	56.6					$	72.3
Capital Expenditures (4)	$	47.1	$	1.2	$	48.3	$	88.1	$	1.1	$	89.2

(1) Ocean Transportation operating revenue excludes inter-segment revenue of $17.8 million and $21.4 million for the three months ended March 31, 2026 and 2025, respectively.

(2) Logistics operating revenue excludes inter-segment revenue of $29.8 million and $32.6 million for the three months ended March 31, 2026 and 2025, respectively.

(3) Ocean Transportation operating overhead includes dry-docking amortization of $7.7 million and $6.6 million for the three months ended March 31, 2026 and 2025, respectively.

(4) Capital expenditures exclude accrued capital expenditures of $3.2 million and $7.6 million as of March 31, 2026 and 2025, respectively.