REPORTABLE SEGMENTS (Tables)

12 Months Ended

Dec. 31, 2024

REPORTABLE SEGMENTS

Schedule of reportable segment financial information

	Year Ended						Year Ended						Year Ended
	December 31, 2024						December 31, 2023						December 31, 2022
(In millions)	Ocean Transportation		Logistics		Total		Ocean Transportation		Logistics		Total		Ocean Transportation		Logistics		Total
Operating Revenue (1)(2)	$	2,809.7	$	612.1	$	3,421.8	$	2,477.0	$	617.6	$	3,094.6	$	3,544.6	$	798.4	$	4,343.0
Operating Expenses:
Operating costs:
Direct cargo expense		980.1		—		980.1		946.2		—		946.2		1,003.8		—		1,003.8
Vessel operating expense		610.5		—		610.5		580.4		—		580.4		703.6		—		703.6
Operating overhead (3)		329.1		—		329.1		297.7		—		297.7		301.2		—		301.2
Direct operating costs		—		493.1		493.1		—		504.2		504.2		—		663.7		663.7
Depreciation and amortization		141.1		12.0		153.1		130.6		11.6		142.2		131.1		8.1		139.2
Total operating costs		2,060.8		505.1		2,565.9		1,954.9		515.8		2,470.7		2,139.7		671.8		2,811.5
Loss (Income) from SSAT		1.0		—		1.0		(2.2)		—		(2.2)		(83.1)		—		(83.1)
General and administrative		247.0		56.6		303.6		229.5		53.8		283.3		206.8		54.2		261.0
Total Costs and Expenses		2,308.8		561.7		2,870.5		2,182.2		569.6		2,751.8		2,263.4		726.0		2,989.4
Operating Income:	$	500.9	$	50.4		551.3	$	294.8	$	48.0		342.8	$	1,281.2	$	72.4		1,353.6
Interest income						48.3						36.0						8.2
Interest expense						(7.5)						(12.2)						(18.0)
Other income (expense), net						7.3						6.4						8.5
Income before Taxes						599.4						373.0						1,352.3
Income taxes						(123.0)						(75.9)						(288.4)
Net Income					$	476.4					$	297.1					$	1,063.9
Capital Expenditures (4)	$	298.9	$	11.2	$	310.1	$	240.2	$	8.2	$	248.4	$	190.9	$	18.4	$	209.3

(1) Ocean Transportation operating revenue excludes inter-segment revenue of $92.8 million, $76.5 million and $93.6 million for the years ended December 31, 2024, 2023 and 2022, respectively.

(2) Logistics operating revenue excludes inter-segment revenue of $153.0 million, $132.2 million and $177.3 million for the years ended December 31, 2024, 2023 and 2022, respectively.

(3) Ocean Transportation operating overhead includes dry-docking amortization of $27.2 million, $25.3 million and $24.9 million for the year ended December 31, 2024, 2023 and 2022, respectively.

(4) Capital expenditures exclude accrued capital expenditures of $7.9 million, $10.8 million and $5.5 million as of December 31, 2024, 2023 and 2022, respectively.