REPORTABLE SEGMENTS (Tables)

6 Months Ended

Jun. 30, 2026

REPORTABLE SEGMENTS

Schedule of reportable segment financial information

Reportable segment financial information for the three months ended June 30, 2026 and 2025 are as follows:

	Three Months Ended						Three Months Ended
	June 30, 2026						June 30, 2025
(In millions)	Ocean Transportation		Logistics		Total		Ocean Transportation		Logistics		Total
Operating Revenue (1)(2)	$	767.4	$	202.0	$	969.4	$	675.6	$	154.9	$	830.5
Operating Expenses:
Operating costs:
Direct cargo expense		(261.8)		—		(261.8)		(249.7)		—		(249.7)
Vessel operating expense		(174.2)		—		(174.2)		(150.6)		—		(150.6)
Operating overhead (3)		(90.5)		—		(90.5)		(86.5)		—		(86.5)
Direct operating costs		—		(168.7)		(168.7)		—		(122.4)		(122.4)
Depreciation and amortization		(39.1)		(3.0)		(42.1)		(37.9)		(3.3)		(41.2)
Total operating costs		(565.6)		(171.7)		(737.3)		(524.7)		(125.7)		(650.4)
Income from SSAT		4.8		—		4.8		7.3		—		7.3
General and administrative		(62.6)		(15.4)		(78.0)		(59.6)		(14.8)		(74.4)
Total Costs and Expenses		(623.4)		(187.1)		(810.5)		(577.0)		(140.5)		(717.5)
Operating Income:	$	144.0	$	14.9		158.9	$	98.6	$	14.4		113.0
Interest income						5.0						8.0
Interest expense, net						(1.6)						(1.7)
Other income (expense), net						1.6						2.4
Income before Taxes						163.9						121.7
Income taxes						(34.5)						(27.0)
Net Income					$	129.4					$	94.7
Capital Expenditures (4)	$	206.1	$	1.1	$	207.2	$	85.1	$	1.2	$	86.3

(1) Ocean Transportation operating revenue excludes inter-segment revenue of $29.3 million and $25.5 million for the three months ended June 30, 2026 and 2025, respectively.

(2) Logistics operating revenue excludes inter-segment revenue of $43.0 million and $37.0 million for the three months ended June 30, 2026 and 2025, respectively.

(3) Ocean Transportation operating overhead includes dry-docking amortization of $8.4 million and $7.0 million for the three months ended June 30, 2026 and 2025, respectively.

(4) Capital expenditures exclude accrued capital expenditures of $3.8 million and $4.0 million as of June 30, 2026 and 2025, respectively.

Reportable segment financial information for the six months ended June 30, 2026 and 2025 are as follows:

	Six Months Ended						Six Months Ended
	June 30, 2026						June 30, 2025
(In millions)	Ocean Transportation		Logistics		Total		Ocean Transportation		Logistics		Total
Operating Revenue (5)(6)	$	1,373.9	$	353.3	$	1,727.2	$	1,313.0	$	299.5	$	1,612.5
Operating Expenses:
Operating costs:
Direct cargo expense		(496.5)		—		(496.5)		(487.9)		—		(487.9)
Vessel operating expense		(312.8)		—		(312.8)		(298.0)		—		(298.0)
Operating overhead (7)		(172.3)		—		(172.3)		(173.5)		—		(173.5)
Direct operating costs		—		(295.3)		(295.3)		—		(240.3)		(240.3)
Depreciation and amortization		(78.2)		(6.1)		(84.3)		(75.2)		(6.6)		(81.8)
Total operating costs		(1,059.8)		(301.4)		(1,361.2)		(1,034.6)		(246.9)		(1,281.5)
Income (Loss) from SSAT		9.8		—		9.8		13.9		—		13.9
General and administrative		(125.3)		(30.2)		(155.5)		(120.1)		(29.7)		(149.8)
Total Costs and Expenses		(1,175.3)		(331.6)		(1,506.9)		(1,140.8)		(276.6)		(1,417.4)
Operating Income:	$	198.6	$	21.7		220.3	$	172.2	$	22.9		195.1
Interest income						11.1						17.4
Interest expense, net						(3.2)						(3.4)
Other income (expense), net						3.6						4.8
Income before Taxes						231.8						213.9
Income taxes						(45.8)						(46.9)
Net Income					$	186.0					$	167.0
Capital Expenditures (8)	$	253.2	$	2.3	$	255.5	$	173.2	$	2.3	$	175.5

(5) Ocean Transportation operating revenue excludes inter-segment revenue of $47.1 million and $46.9 million for the six months ended June 30, 2026 and 2025, respectively.

(6) Logistics operating revenue excludes inter-segment revenue of $72.8 million and $69.6 million for the six months ended June 30, 2026 and 2025, respectively.

(7) Ocean Transportation operating overhead includes dry-docking amortization of $16.1 million and $13.6 million for the six months ended June 30, 2026 and 2025, respectively.

(8) Capital expenditures exclude accrued capital expenditures of $3.8 million and $4.0 million as of June 30, 2026 and 2025, respectively.