REPORTABLE SEGMENTS (Tables)

9 Months Ended

Sep. 30, 2019

REPORTABLE SEGMENTS

Schedule of reportable segment information

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(In millions)	2019		2018		2019		2018
Operating Revenue:
Ocean Transportation (1)	$	437.2	$	437.3	$	1,250.5	$	1,223.2
Logistics (2)		134.9		152.1		411.9		434.7
Total Operating Revenue	$	572.1	$	589.4	$	1,662.4	$	1,657.9
Operating Income:
Ocean Transportation (3)	$	43.9	$	48.7	$	73.0	$	109.7
Logistics		11.3		9.9		30.7		23.6
Total Operating Income		55.2		58.6		103.7		133.3
Interest expense, net		(6.2)		(4.4)		(16.9)		(14.4)
Other income (expense), net		(0.5)		0.7		0.9		1.9
Income before Income Taxes		48.5		54.9		87.7		120.8
Income taxes		(12.3)		(13.3)		(20.6)		(32.4)
Net Income	$	36.2	$	41.6	$	67.1	$	88.4

(1) Ocean Transportation operating revenue excludes inter-segment revenue of $14.0 million and $15.2 million for the three months ended September 30, 2019 and 2018, and $39.2 million and $39.9 million for the nine months ended September 30, 2019 and 2018, respectively.

(2) Logistics operating revenue excludes inter-segment revenue of $14.2 million and $12.4 million for the three months ended September 30, 2019 and 2018, and $36.1 million and $32.8 million for the nine months ended September 30, 2019 and 2018, respectively.

(3) Ocean Transportation segment information includes $8.4 million and $9.2 million of equity in income from the Company’s investment in SSAT for the three months ended September 30, 2019 and 2018, and $17.8 million and $28.8 million for the nine months ended September 30, 2019 and 2018, respectively.