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REPORTABLE SEGMENTS (Tables)
 12 Months Ended
Dec. 31, 2018
REPORTABLE SEGMENTS  
Schedule of reportable segment information

 

 

Years Ended December 31, 

(In millions)

    

2018

    

2017

    

2016

Operating Revenue:

 

 

 

 

 

 

 

 

 

Ocean Transportation

 

$

1,641.3

 

$

1,571.8

 

$

1,541.1

Logistics

 

 

581.5

 

 

475.1

 

 

400.5

Total Operating Revenue

 

$

2,222.8

 

$

2,046.9

 

$

1,941.6

Operating Income:

 

 

 

 

 

 

 

 

 

Ocean Transportation (1)

 

$

131.1

 

$

126.4

 

$

144.5

Logistics (2)

 

 

32.7

 

 

20.9

 

 

12.2

Total Operating Income

 

 

163.8

 

 

147.3

 

 

156.7

Interest expense, net

 

 

(18.7)

 

 

(24.2)

 

 

(24.1)

Other income (expense), net

 

 

2.6

 

 

2.1

 

 

(2.1)

Income before Income Taxes

 

 

147.7

 

 

125.2

 

 

130.5

Income taxes (3)

 

 

(38.7)

 

 

105.8

 

 

(49.1)

Net Income (3)

 

$

109.0

 

$

231.0

 

$

81.4

 

 

 

 

 

 

 

 

 

 

Capital Expenditures:

 

 

 

 

 

 

 

 

 

Ocean Transportation

 

$

385.4

 

$

305.3

 

$

179.1

Logistics

 

 

15.8

 

 

1.7

 

 

0.3

Total Capital Expenditures

 

$

401.2

 

$

307.0

 

$

179.4

 

 

 

 

 

 

 

 

 

 

Depreciation and Amortization:

 

 

 

 

 

 

 

 

 

Ocean Transportation

 

$

87.0

 

$

93.3

 

$

92.6

Logistics

 

 

7.4

 

 

7.9

 

 

4.5

 

 

 

94.4

 

 

101.2

 

 

97.1

Deferred dry-docking amortization - Ocean Transportation

 

 

37.4

 

 

46.2

 

 

38.9

Total Depreciation and Amortization

 

$

131.8

 

$

147.4

 

$

136.0

(1)

Ocean Transportation segment information includes $36.8 million, $28.2 million, and $15.8 million of equity in income from the Company’s equity investment in SSAT for the years ended December 31, 2018, 2017, and 2016, respectively.

(2)

Logistics segment information includes the operations of Span Alaska acquired as of August 4, 2016.

(3)

Income taxes and net income were adjusted for an immaterial correction of an error for the year ended December 31, 2017 (see Note 2).

 

 

 

 

 

 

 

 

 

As of December 31, 

(In millions)

    

2018

    

2017

Identifiable Assets:

 

 

 

 

 

 

Ocean Transportation (1) (2)

 

$

2,071.6

 

$

1,941.5

Logistics

 

 

358.8

 

 

310.1

Total Assets (2)

 

$

2,430.4

 

$

2,251.6

(1)

The Ocean Transportation segment includes $87.0 million and $93.2 million related to the Company’s equity investment in SSAT as of December 31, 2018 and 2017, respectively.

(2)

Amounts as of December 31, 2017 have been adjusted for an immaterial correction of an error (see Note 2).