REPORTABLE SEGMENTS (Tables)

6 Months Ended

Jun. 30, 2024

REPORTABLE SEGMENTS

Schedule of reportable segment financial information

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(In millions)	2024		2023		2024		2023
Operating Revenue:
Ocean Transportation (1)	$	689.9	$	616.9	$	1,268.9	$	1,167.9
Logistics (2)		157.5		156.5		300.6		310.3
Total Operating Revenue	$	847.4	$	773.4	$	1,569.5	$	1,478.2
Operating Income:
Ocean Transportation (3)	$	109.0	$	82.4	$	136.6	$	110.2
Logistics		15.6		14.3		24.9		25.2
Total Operating Income		124.6		96.7		161.5		135.4
Interest income		18.8		8.7		27.6		16.9
Interest expense		(2.1)		(2.9)		(4.3)		(7.4)
Other income (expense), net		1.8		1.8		3.6		3.6
Income before Taxes		143.1		104.3		188.4		148.5
Income taxes		(29.9)		(23.5)		(39.1)		(33.7)
Net Income	$	113.2	$	80.8	$	149.3	$	114.8

(1) Ocean Transportation operating revenue excludes inter-segment revenue of $22.8 million and $19.0 million for the three months ended June 30, 2024 and 2023, and $42.5 million and $35.1 million for the six months ended June 30, 2024 and 2023, respectively.

(2) Logistics operating revenue excludes inter-segment revenue of $39.0 million and $35.4 million for the three months ended June 30, 2024 and 2023, and $65.9 million and $59.4 million for the six months ended June 30, 2024 and 2023, respectively.

(3) Ocean Transportation segment information includes net income (loss) of $1.2 million and $(1.4) million from the Company’s equity investment in SSAT for the three months ended June 30, 2024 and 2023, and $1.6 million and $(3.2) million for the six months ended June 30, 2024 and 2023, respectively.