SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of changes in the allowance for doubtful accounts receivable

	Balance at				Write-offs		Balance at
Year (in millions)	Beginning of Year		Expense (1)		and Other		End of Year
2021	$	6.3	$	4.2	$	(0.4)	$	10.1
2020	$	4.3	$	2.9	$	(0.9)	$	6.3
2019	$	4.8	$	0.6	$	(1.1)	$	4.3

(1) Expense is shown net of amounts recovered from previously reserved doubtful accounts.

Schedule of prepaid expenses and other assets

	As of December 31,
Prepaid Expenses and Other Assets (in millions)	2021		2020
Income tax receivables	$	23.1	$	0.3
Prepaid fuel		22.6		10.8
Prepaid insurance and insurance related receivables		10.1		7.5
Restricted cash - vessel construction obligations		5.3		5.3
Other		17.3		14.2
Total	$	78.4	$	38.1

Schedule of other long-term assets

	As of December 31,
Other Long-Term Assets (in millions)	2021		2020
Vessel and equipment spare parts	$	12.8	$	11.5
Insurance related receivables		10.4		10.5
Other		16.2		11.0
Total	$	39.4	$	33.0

Schedule of estimated useful lives of property and equipment

Classification	Life
Vessels	40 years
Machinery and equipment	30 years
Terminal facilities	35 years

Schedule other liabilities

	As of December 31,
Other Liabilities (in millions)	2021		2020
Payroll and vacation	$	35.8	$	29.2
Employee incentives and other benefits		32.2		25.9
Insurance reserves and other related liabilities - short term		9.0		7.0
Multi-employer withdrawal liabilities - short term (see Note 12)		4.1		10.6
Income tax and other tax related liabilities		3.1		11.7
Other short-term liabilities		17.2		12.4
Total	$	101.4	$	96.8

Schedule of other long-term liabilities

	As of December 31,
Other Long-Term Liabilities (in millions)	2021		2020
Multi-employer withdrawal liability (see Note 12)	$	50.8	$	52.8
Pension and post-retirement liabilities (see Note 11)		43.3		82.0
Insurance reserves and other related liabilities		26.9		25.4
Other long-term liabilities		10.0		5.6
Total	$	131.0	$	165.8

Schedule of condensed income statement information for SSAT

	Years Ended December 31,
(In millions)	2021		2020		2019
Company's share of net income	$	56.3	$	26.3	$	20.8
Distributions received	$	46.9	$	55.4	$	25.2

Ocean Transportation

Schedule of principal revenue generating activities by segment

	Years Ended December 31,
Ocean Transportation (in millions) (1)	2021		2020		2019
Ocean Transportation services	$	3,101.9	$	1,821.7	$	1,625.8
Terminal and other related services		16.0		19.1		24.8
Fuel sales		7.2		7.3		10.1
Vessel management and related services		7.7		5.8		5.9
Total	$	3,132.8	$	1,853.9	$	1,666.6

(1) Ocean Transportation revenue transactions are primarily denominated in U.S. dollars except for less than 3 percent of Ocean Transportation services revenue and fuel sales revenue categories which are denominated in foreign currencies.

◾ Ocean Transportation services revenue is recognized ratably over the duration of a voyage based on the relative transit time completed in each reporting period. Vessel operating costs and other ocean transportation operating costs, such as terminal operating overhead and selling, general and administrative expenses, are charged to operating costs as incurred.

◾ Terminal and other related services revenue is recognized as the services are performed. Related costs are recognized as incurred.

◾ Fuel sales revenue and related costs are recognized when the Company has completed delivery of the product to the customer in accordance with the terms and conditions of the contract.

◾ Vessel management and related services revenue is recognized in proportion to the services completed. Related costs are recognized as incurred.

Logistics

Schedule of principal revenue generating activities by segment

	Years Ended December 31,
Logistics (in millions) (1)	2021		2020		2019
Transportation Brokerage and Freight Forwarding services	$	707.4	$	477.0	$	489.0
Warehousing and distribution services		44.7		36.2		34.1
Supply chain management and other services		40.4		16.2		13.4
Total	$	792.5	$	529.4	$	536.5

(1) Logistics revenue transactions are primarily denominated in U.S. dollars except for approximately 5 percent of transportation brokerage and freight forwarding services revenue, and supply chain management and other services revenue categories which are denominated in foreign currencies.

◾ Transportation Brokerage and Freight Forwarding services revenue consists of amounts billed to customers for services provided. The primary costs include third-party purchased transportation services, agent commissions, labor and equipment. Revenue and the related purchased third-party transportation costs are recognized over the duration of a delivery based upon the relative transit time completed in each reporting period. Labor, agent commissions, and other operating costs are expensed as incurred. The Company reports revenue on a gross basis as the Company serves as the principal in these transactions because it is responsible for fulfilling the contractual arrangements with the customer and has latitude in establishing prices.

◾ Warehousing and distribution services revenue consist of amounts billed to customers for storage, handling, and value-added packaging of customer merchandise. Storage revenue is recognized in the month the service is provided to the customer. Storage related costs are recognized as incurred. Other warehousing and distribution services revenue and related costs are recognized in proportion to the services performed.

◾ Supply chain management and other services revenue, and related costs are recognized in proportion to the services performed.