REPORTABLE SEGMENTS (Tables)

9 Months Ended

Sep. 30, 2024

REPORTABLE SEGMENTS

Schedule of reportable segment financial information

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(In millions)	2024		2023		2024		2023
Operating Revenue:
Ocean Transportation (1)	$	798.7	$	669.4	$	2,067.6	$	1,837.3
Logistics (2)		163.3		158.1		463.9		468.4
Total Operating Revenue	$	962.0	$	827.5	$	2,531.5	$	2,305.7
Operating Income:
Ocean Transportation (3)	$	226.9	$	118.2	$	363.5	$	228.4
Logistics		15.4		13.9		40.3		39.1
Total Operating Income		242.3		132.1		403.8		267.5
Interest income		10.4		9.3		38.0		26.2
Interest expense		(1.8)		(2.4)		(6.1)		(9.8)
Other income (expense), net		1.9		1.2		5.5		4.8
Income before Taxes		252.8		140.2		441.2		288.7
Income taxes		(53.7)		(20.3)		(92.8)		(54.0)
Net Income	$	199.1	$	119.9	$	348.4	$	234.7

(1) Ocean Transportation operating revenue excludes inter-segment revenue of $26.7 million and $22.5 million for the three months ended September 30, 2024 and 2023, and $69.2 million and $57.6 million for the nine months ended September 30, 2024 and 2023, respectively.

(2) Logistics operating revenue excludes inter-segment revenue of $46.1 million and $38.6 million for the three months ended September 30, 2024 and 2023, and $112.0 million and $98.0 million for the nine months ended September 30, 2024 and 2023, respectively.

(3) Ocean Transportation segment information includes net income (loss) of $6.9 million and $1.3 million from the Company’s equity investment in SSAT for the three months ended September 30, 2024 and 2023, and $8.5 million and $(1.9) million for the nine months ended September 30, 2024 and 2023, respectively.