REPORTABLE SEGMENTS (Tables)

6 Months Ended

Jun. 30, 2023

REPORTABLE SEGMENTS

Schedule of reportable segment financial information

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(In millions)	2023		2022		2023		2022
Operating Revenue:
Ocean Transportation (1)	$	616.9	$	1,049.2	$	1,167.9	$	1,993.1
Logistics (2)		156.5		211.9		310.3		433.5
Total Operating Revenue	$	773.4	$	1,261.1	$	1,478.2	$	2,426.6
Operating Income:
Ocean Transportation (3)	$	82.4	$	470.0	$	110.2	$	886.2
Logistics		14.3		23.1		25.2		39.5
Total Operating Income		96.7		493.1		135.4		925.7
Interest income		8.7		—		16.9		—
Interest expense		(2.9)		(4.5)		(7.4)		(9.3)
Other income (expense), net		1.8		1.8		3.6		3.8
Income before Taxes		104.3		490.4		148.5		920.2
Income taxes		(23.5)		(109.7)		(33.7)		(200.3)
Net Income	$	80.8	$	380.7	$	114.8	$	719.9

(1) Ocean Transportation operating revenue excludes inter-segment revenue of $19.0 million and $24.0 million for the three months ended June 30, 2023 and 2022, and $35.1 million and $45.8 million for the six months ended June 30, 2023 and 2022, respectively.

(2) Logistics operating revenue excludes inter-segment revenue of $35.4 million and $45.2 million for the three months ended June 30, 2023 and 2022, and $59.4 million and $96.6 million for the six months ended June 30, 2023 and 2022, respectively.

(3) Ocean Transportation segment information includes $(1.4) million and $24.7 million of equity in income from the Company’s equity investment in SSAT for the three months ended June 30, 2023 and 2022, and $(3.2) million and $58.7 million for the six months ended June 30, 2023 and 2022, respectively.