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INVESTMENT IN SSAT (Tables)
12 Months Ended
Dec. 31, 2019
INVESTMENT IN SSAT  
Schedule of condensed income statement information (unaudited) for SSAT

Years Ended December 31, 

 

(In millions)

    

2019

    

2018

    

2017

 

Company's share of net income

$

20.8

$

36.8

$

28.2

Distributions received

$

25.2

$

42.0

$

17.5

Unaudited condensed financial information for SSAT - Balance Sheet

As of December 31, 

Condensed Balance Sheets (in millions)

    

2019

    

2018

 

Current assets

$

300.8

$

310.4

Non-current assets (1)

 

1,283.0

 

152.1

Total Assets

$

1,583.8

$

462.5

Current liabilities (1)

$

201.9

$

71.0

Non-current liabilities (1)

 

1,179.2

 

156.2

Equity

 

202.7

 

235.3

Total Liabilities and Equity

$

1,583.8

$

462.5

(1)Non-current assets, current liabilities and non-current liabilities include $1,117.0 million, $135.7 million and $1,033.1 million at December 31, 2019, respectively, related to operating lease right of use assets and operating lease liabilities recorded as a result of the adoption of the new lease accounting standard during the year ended December 31, 2019.

Unaudited financial information for SSAT - Statement of Operating Income (Loss) and Net Income

Years Ended December 31, 

Condensed Statements of Operating Income and Net Income (in millions)

    

2019

    

2018

     

2017

 

Operating revenue

$

1,098.3

$

1,074.2

$

933.5

Operating costs and expenses

 

1,035.3

 

963.7

 

850.2

Operating income

 

63.0

 

110.5

 

83.3

Net Income (1)

$

57.2

$

104.9

$

80.9

(1)

Includes earnings from equity method investments held by SSAT less earnings allocated to non-controlling interests.