Segment Data

3 Months Ended

Mar. 31, 2023

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 $9.4 million and $7.6 million for the three months ended March 31, 2023 and 2022, respectively, as well as the related intersegment profit of $0.9 million and $0.8 million for the three months ended March 31, 2023 and 2022, 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 March 31,
	2023			2022
Revenues:
Marine transportation	$	412,495		$	355,536
Distribution and services		337,949			255,246
	$	750,444		$	610,782
Segment profit:
Marine transportation	$	43,036		$	16,935
Distribution and services		22,792			10,971
Other		(11,156	)		(4,107	)
	$	54,672		$	23,799

	March 31, 2023		December 31, 2022
Total assets:
Marine transportation	$	4,285,085	$	4,285,647
Distribution and services		1,108,689		1,041,841
Other		180,974		227,436
	$	5,574,748	$	5,554,924

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

	Three Months Ended March 31,
	2023			2022
General corporate expenses	$	(6,608	)	$	(3,061	)
Gain on disposition of assets		2,230			4,849
Interest expense		(13,221	)		(10,203	)
Other income		6,443			4,308
	$	(11,156	)	$	(4,107	)

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

	March 31, 2023		December 31, 2022
General corporate assets	$	178,619	$	225,265
Investment in affiliates		2,355		2,171
	$	180,974	$	227,436