Segment Data

12 Months Ended

Dec. 31, 2022

Segment Data [Abstract]

Segment Data

(4) Segment Data

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

Marine Transportation — 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 — Provides after-market service 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’s accounting policies for the business segments are the same as those described in Note 1, Summary of Significant Accounting Policies. The Company evaluates the performance of its segments based on the contributions to operating income of the respective segments, and 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 $31.9 million, $23.6 million, and $27.8 million in 2022, 2021, and 2020, respectively, as well as the related intersegment profit of $3.2 million, $2.4 million, and $2.8 million in 2022, 2021, and 2020, respectively, have been eliminated from the tables below.

The following tables set forth by reportable segment the revenues, profit or loss, total assets, depreciation and amortization, and capital expenditures attributable to the principal activities of the Company (in thousands):

	Year Ended December 31,
	2022			2021			2020
Revenues:
Marine transportation	$	1,616,967		$	1,322,918		$	1,404,265
Distribution and services		1,167,787			923,742			767,143
	$	2,784,754		$	2,246,660		$	2,171,408
Segment profit (loss):
Marine transportation	$	136,184		$	63,015		$	163,638
Distribution and services		67,037			27,607			(12,191	)
Other		(38,246	)		(381,223	)		(612,798	)
	$	164,975		$	(290,601	)	$	(461,351	)
Depreciation and amortization:
Marine transportation	$	177,551		$	185,979		$	186,798
Distribution and services		16,776			20,573			28,255
Other		7,116			7,166			4,868
	$	201,443		$	213,718		$	219,921
Capital expenditures:
Marine transportation	$	147,170		$	84,353		$	133,990
Distribution and services		21,713			8,104			4,854
Other		3,723			5,558			9,341
	$	172,606		$	98,015		$	148,185

	December 31,
	2022		2021
Total assets:
Marine transportation	$	4,285,647	$	4,319,080
Distribution and services		1,041,841		892,603
Other		227,436		187,380
	$	5,554,924	$	5,399,063

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

	Year Ended December 31,
	2022			2021			2020
General corporate expenses	$	(18,614	)	$	(13,803	)	$	(11,050	)
Gain on disposition of assets		8,279			5,761			118
Impairments and other charges		—			(340,713	)		(561,274	)
Interest expense		(44,588	)		(42,469	)		(48,739	)
Other income		16,677			10,001			8,147
	$	(38,246	)	$	(381,223	)	$	(612,798	)

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

	December 31,
	2022		2021
General corporate assets	$	225,265	$	185,246
Investment in affiliates		2,171		2,134
	$	227,436	$	187,380