REPORTABLE SEGMENTS (Tables)

12 Months Ended

Dec. 31, 2023

REPORTABLE SEGMENTS

Schedule of reportable segment financial information

	Years Ended December 31,
(In millions)	2023		2022		2021
Operating Revenue:
Ocean Transportation (1)	$	2,477.0	$	3,544.6	$	3,132.8
Logistics (2)		617.6		798.4		792.5
Total Operating Revenue	$	3,094.6	$	4,343.0	$	3,925.3
Operating Income:
Ocean Transportation (3)	$	294.8	$	1,281.2	$	1,137.7
Logistics		48.0		72.4		49.8
Total Operating Income		342.8		1,353.6		1,187.5
Interest income		36.0		8.2		—
Interest expense		(12.2)		(18.0)		(22.6)
Other income (expense), net		6.4		8.5		6.4
Income before Taxes		373.0		1,352.3		1,171.3
Income taxes		(75.9)		(288.4)		(243.9)
Net Income	$	297.1	$	1,063.9	$	927.4
Capital Expenditures:
Ocean Transportation	$	240.2	$	190.9	$	322.4
Logistics		8.2		18.4		2.9
Total Capital Expenditures	$	248.4	$	209.3	$	325.3
Depreciation and Amortization:
Ocean Transportation	$	132.8	$	133.2	$	128.6
Logistics		11.6		8.1		7.3
		144.4		141.3		135.9
Deferred dry-docking amortization - Ocean Transportation		25.3		24.9		24.3
Total Depreciation and Amortization	$	169.7	$	166.2	$	160.2

(1) Ocean Transportation operating revenue excludes inter-segment revenue of $76.5 million, $93.6 million and $81.0 million for the years ended December 31, 2023, 2022 and 2021, respectively.

(2) Logistics operating revenue excludes inter-segment revenue of $132.2 million, $177.3 million and $132.8 million for the years ended December 31, 2023, 2022 and 2021, respectively.

(3) Ocean Transportation segment information includes $2.2 million, $83.1 million, and $56.3 million of income from the Company’s investment in SSAT for the years ended December 31, 2023, 2022 and 2021, respectively.

	As of December 31,
(In millions)	2023		2022
Identifiable Assets:
Ocean Transportation (1)	$	3,645.3	$	3,705.2
Logistics		649.3		624.8
Total Assets	$	4,294.6	$	4,330.0

(1) The Ocean Transportation segment includes $85.5 million and $81.2 million related to the Company’s investment in SSAT as of December 31, 2023 and 2022, respectively.