REPORTABLE SEGMENTS (Tables)

9 Months Ended

Sep. 30, 2023

REPORTABLE SEGMENTS

Schedule of reportable segment financial information

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(In millions)	2023		2022		2023		2022
Operating Revenue:
Ocean Transportation (1)	$	669.4	$	918.5	$	1,837.3	$	2,911.6
Logistics (2)		158.1		196.3		468.4		629.8
Total Operating Revenue	$	827.5	$	1,114.8	$	2,305.7	$	3,541.4
Operating Income:
Ocean Transportation (3)	$	118.2	$	315.2	$	228.4	$	1,201.4
Logistics		13.9		20.1		39.1		59.6
Total Operating Income		132.1		335.3		267.5		1,261.0
Interest income		9.3		1.3		26.2		1.3
Interest expense		(2.4)		(5.0)		(9.8)		(14.3)
Other income (expense), net		1.2		2.5		4.8		6.3
Income before Taxes		140.2		334.1		288.7		1,254.3
Income taxes		(20.3)		(68.1)		(54.0)		(268.4)
Net Income	$	119.9	$	266.0	$	234.7	$	985.9

(1) Ocean Transportation operating revenue excludes inter-segment revenue of $22.5 million and $28.0 million for the three months ended September 30, 2023 and 2022, and $57.6 million and $73.8 million for the nine months ended September 30, 2023 and 2022, respectively.

(2) Logistics operating revenue excludes inter-segment revenue of $38.6 million and $50.2 million for the three months ended September 30, 2023 and 2022, and $98.0 million and $146.8 million for the nine months ended September 30, 2023 and 2022, respectively.

(3) Ocean Transportation segment information includes $1.3 million and $23.4 million of income from the Company’s equity investment in SSAT for the three months ended September 30, 2023 and 2022, and $(1.9) million and $82.1 million of (loss) income for the nine months ended September 30, 2023 and 2022, respectively.