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SIGNIFICANT ACCOUNTING POLICIES (Tables)
12 Months Ended
Dec. 31, 2024
Schedule of changes in the allowance for doubtful accounts receivable

    

Balance at

    

    

Write-offs

    

Balance at

Year (in millions)

    

Beginning of Year

    

Expense (1)

    

and Other

    

End of Year

2024

$

9.9

$

0.8

$

(0.9)

$

9.8

2023

$

13.0

$

(2.1)

$

(1.0)

$

9.9

2022

$

10.1

$

3.2

$

(0.3)

$

13.0

(1)Expense is shown net of amounts recovered from previously reserved doubtful accounts receivable.
Schedule of prepaid expenses and other assets

 

As of December 31, 

 

Prepaid Expenses and Other Assets (in millions)

 

2024

    

2023

 

Prepaid fuel

$

31.2

$

22.5

Prepaid insurance and insurance related receivables

 

19.1

 

19.3

Prepaid operating expenses

8.8

8.2

Income tax receivables, net

2.0

125.2

Restricted cash - vessel construction obligations

2.3

Other

 

12.8

 

11.4

Total

$

73.9

$

188.9

Schedule of other long-term assets

As of December 31, 

 

Other Long-Term Assets (in millions)

    

2024

    

2023

 

Pension plan assets

$

49.0

$

34.8

Vessel and equipment spare parts

15.9

14.2

Insurance related receivables

9.8

10.2

Other

4.9

7.2

Total

$

79.6

$

66.4

Schedule of estimated useful lives of property and equipment

Classification

    

Life 

Vessels

 

40 years

Terminal cranes

 

30 years

Containers and chassis

15 years

Terminal equipment and other property

 

35 years

Schedule of other liabilities

As of December 31, 

 

Other Liabilities (in millions)

    

2024

    

2023

 

Employee incentives and other benefits

$

36.6

$

33.9

Payroll and vacation

36.1

38.3

Insurance reserves and other related liabilities - short term

27.2

17.5

Income tax and other tax related liabilities

8.6

1.6

Deferred revenues

5.5

6.4

Multi-employer withdrawal liabilities - short term

4.1

4.1

Other short-term liabilities

5.1

6.2

Total

$

123.2

 

$

108.0

Schedule of other long-term liabilities

As of December 31, 

 

Other Long-Term Liabilities (in millions)

    

2024

    

2023

 

Multi-employer withdrawal liability

$

44.2

$

46.5

Insurance reserves and other related liabilities

25.6

23.8

Pension and post-retirement liabilities

21.3

21.8

Long-term tax liabilities

 

9.1

 

8.9

Other long-term liabilities

 

9.1

 

12.7

Total

$

109.3

$

113.7

Ocean Transportation  
Schedule of principal revenue generating activities by segment

Years Ended December 31,

Ocean Transportation (in millions) (1)

2024

2023

2022

Ocean Transportation services

$

2,762.0

$

2,420.8

$

3,508.0

Terminal and other related services

32.0

36.9

18.5

Fuel sales

12.4

12.3

11.3

Vessel management and related services

3.3

7.0

6.8

Total

$

2,809.7

$

2,477.0

$

3,544.6

(1)Ocean Transportation revenue transactions are primarily denominated in U.S. dollars except for less than 3 percent of Ocean Transportation services revenue and fuel sales revenue categories which are denominated in foreign currencies.

Logistics  
Schedule of principal revenue generating activities by segment

Years Ended December 31,

Logistics (in millions) (1)

2024

2023

2022

Transportation Brokerage and Freight Forwarding services

$

538.1

$

546.8

$

695.1

Warehousing services

40.0

42.5

53.5

Supply Chain Management services

 

34.0

 

28.3

 

49.8

Total

$

612.1

$

617.6

$

798.4

(1)Logistics revenue transactions are primarily denominated in U.S. dollars except for less than 3 percent of Transportation Brokerage and Freight Forwarding services revenue, and Supply Chain Management services revenue categories which are denominated in foreign currencies.