Segment Data

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Segment Data

(4) Segment Data

The Company’s operations are aggregated into two reportable business segments as follows:

Marine Transportation Segment (“KMT”) — Provides marine transportation by United States flagged vessels principally of liquid cargoes throughout the United States inland waterway system, along all three United States coasts, and, to a lesser extent, in United States coastal transportation of dry-bulk cargoes. The principal products transported include petrochemicals, black oil, refined petroleum products, and agricultural chemicals.

Distribution and Services Segment (“KDS”) — Provides after-market services and genuine replacement parts for engines, transmissions, reduction gears, and related equipment used in oilfield services, marine, power generation, on-highway, and other industrial applications. The Company also rents equipment including generators, industrial compressors, high capacity lift trucks, and refrigeration trailers for use in a variety of industrial markets, and manufactures and remanufactures oilfield service equipment, including pressure pumping units, electric power generation equipment, specialized electrical distribution and control equipment, and high capacity energy storage/battery systems for oilfield service and railroad customers.

The Company’s two reportable business segments are managed separately based on fundamental differences in their operations. The Company evaluates the performance of its segments based on the contributions to operating income of the respective segments, before income taxes, interest, gains or losses on disposition of assets, other nonoperating income, noncontrolling interests, accounting changes, and nonrecurring items. Intersegment revenues, based on market-based pricing, of KDS from KMT of $8.0 million and $21.9 million for the three months and nine months ended September 30, 2022, respectively, and $5.4 million and $17.6 million for the three months and nine months ended September 30, 2021, respectively, as well as the related intersegment profit of $0.8 million and $2.2 million for the three months and nine months ended September 30, 2022 and $0.5 million and $1.8 million for the three months and nine months ended September 30, 2021, respectively, have been eliminated from the tables below.

The following tables set forth the Company’s revenues and profit or loss by reportable segment and total assets (in thousands):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2022			2021			2022			2021
Revenues:
Marine transportation	$	433,040		$	338,514		$	1,194,231		$	972,352
Distribution and services		312,803			260,406			860,358			683,042
	$	745,843		$	598,920		$	2,054,589		$	1,655,394
Segment profit:
Marine transportation	$	41,713		$	16,915		$	89,465		$	37,333
Distribution and services		22,268			11,039			49,976			20,106
Other		(13,024	)		(353,548	)		(25,049	)		(371,199	)
	$	50,957		$	(325,594	)	$	114,392		$	(313,760	)

	September 30, 2022		December 31, 2021
Total assets:
Marine transportation	$	4,279,784	$	4,319,080
Distribution and services		992,136		892,603
Other		184,378		187,380
	$	5,456,298	$	5,399,063

The following table presents the details of “Other” segment loss (in thousands):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2022			2021			2022			2021
General corporate expenses	$	(5,451	)	$	(4,997	)	$	(12,275	)	$	(11,542	)
Gain on disposition of assets		377			830			7,971			5,082
Impairments		—			(340,713	)		—			(340,713	)
Interest expense		(11,755	)		(10,500	)		(32,598	)		(32,172	)
Other income		3,805			1,832			11,853			8,146
	$	(13,024	)	$	(353,548	)	$	(25,049	)	$	(371,199	)

The following table presents the details of “Other” total assets (in thousands):

	September 30, 2022		December 31, 2021
General corporate assets	$	182,443	$	185,246
Investment in affiliates		1,935		2,134
	$	184,378	$	187,380