REPORTABLE SEGMENTS (Tables)

12 Months Ended

Dec. 31, 2021

REPORTABLE SEGMENTS

Schedule of reportable segment information

	Years Ended December 31,
(In millions)	2021		2020		2019
Operating Revenue:
Ocean Transportation (1)	$	3,132.8	$	1,853.9	$	1,666.6
Logistics (2)		792.5		529.4		536.5
Total Operating Revenue	$	3,925.3	$	2,383.3	$	2,203.1
Operating Income:
Ocean Transportation (3)	$	1,137.7	$	244.8	$	90.8
Logistics		49.8		35.5		38.3
Total Operating Income		1,187.5		280.3		129.1
Interest expense, net		(22.6)		(27.4)		(22.5)
Other income (expense), net		6.4		6.1		1.2
Income before Income Taxes		1,171.3		259.0		107.8
Income taxes		(243.9)		(65.9)		(25.1)
Net Income	$	927.4	$	193.1	$	82.7
Capital Expenditures:
Ocean Transportation	$	322.4	$	190.0	$	294.5
Logistics		2.9		2.3		15.8
Total Capital Expenditures	$	325.3	$	192.3	$	310.3
Depreciation and Amortization:
Ocean Transportation	$	128.6	$	107.4	$	93.6
Logistics		7.3		7.5		6.8
		135.9		114.9		100.4
Deferred dry-docking amortization - Ocean Transportation		24.3		25.1		34.3
Total Depreciation and Amortization	$	160.2	$	140.0	$	134.7

(1) Ocean Transportation operating revenue excludes inter-segment revenue of $81.0 million, $59.1 million and $52.8 million for the years ended December 31, 2021, 2020 and 2019, respectively.

(2) Logistics operating revenue excludes inter-segment revenue of $132.8 million, $56.4 million and $49.5 million for the years ended December 31, 2021, 2020 and 2019, respectively.

(3) Ocean Transportation segment information includes $56.3 million, $26.3 million, and $20.8 million of equity in income from the Company’s equity investment in SSAT for the years ended December 31, 2021, 2020 and 2019, respectively.

	As of December 31,
(In millions)	2021		2020
Identifiable Assets:
Ocean Transportation (1)	$	3,096.6	$	2,431.1
Logistics		596.5		469.5
Total Assets	$	3,693.1	$	2,900.6

(1) The Ocean Transportation segment includes $58.7 million and $48.7 million related to the Company’s equity investment in SSAT as of December 31, 2021 and 2020, respectively.