Segment Data

12 Months Ended

Dec. 31, 2020

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, in Alaska and Hawaii 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 services and parts for engines, transmissions, reduction gears and related equipment used in oilfield service, marine, power generation, on-highway, and other industrial applications. The Company also rents equipment including generators, industrial compressors, railcar movers, and high capacity lift trucks for use in a variety of industrial markets, and manufactures and remanufactures oilfield service equipment, including pressure pumping units, for land-based oilfield service 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 the distribution and services segment from the marine transportation segment of $27,782,000, $27,441,000, and $29,363,000 in 2020, 2019, and 2018, respectively, as well as the related intersegment profit of $2,778,000, $2,744,000, and $2,936,000 in 2020, 2019, and 2018, 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,
	2020			2019			2018
Revenues:
Marine transportation	$	1,404,265		$	1,587,082		$	1,483,143
Distribution and services		767,143			1,251,317			1,487,554
	$	2,171,408		$	2,838,399		$	2,970,697
Segment profit (loss):
Marine transportation	$	163,638		$	215,842		$	147,416
Distribution and services		(12,191	)		67,201			129,305
Other		(612,798	)		(93,223	)		(162,562	)
	$	(461,351	)	$	189,820		$	114,159
Depreciation and amortization:
Marine transportation	$	186,798		$	179,742		$	182,307
Distribution and services		28,255			35,998			39,349
Other		4,868			3,892			3,316
	$	219,921		$	219,632		$	224,972
Capital expenditures:
Marine transportation	$	133,990		$	217,364		$	284,953
Distribution and services		4,854			18,284			10,742
Other		9,341			12,516			6,166
	$	148,185		$	248,164		$	301,861

	December 31,
	2020		2019
Total assets:
Marine transportation	$	4,760,449	$	4,536,368
Distribution and services		805,831		1,422,394
Other		357,894		120,335
	$	5,924,174	$	6,079,097

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

	Year Ended December 31,
	2020			2019			2018
General corporate expenses	$	(11,050	)	$	(13,643	)	$	(35,590	)
Gain on disposition of assets		118			8,152			1,968
Impairments and other charges		(561,274	)		(35,525	)		(85,407	)
Lease cancellation costs		—			—			(2,403	)
Interest expense		(48,739	)		(55,994	)		(46,856	)
Other income		8,147			3,787			5,726
	$	(612,798	)	$	(93,223	)	$	(162,562	)

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

	December 31,
	2020		2019
General corporate assets	$	355,205	$	118,310
Investment in affiliates		2,689		2,025
	$	357,894	$	120,335