Note 13 - Business Segments

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

13. Segment Information

We have five reportable business segments which are based primarily on the services each segment provides. The JBI segment includes freight that is transported by rail over at least some portion of the movement and also includes certain repositioning truck freight moved by JBI equipment or third-party carriers, when such highway movement is intended to direct JBI equipment back toward intermodal operations. DCS segment business includes company-owned and customer-owned, DCS-operated revenue equipment and employee drivers assigned to a specific customer, traffic lane, or service. DCS operations usually include formal, written longer-term agreements or contracts that govern services performed and applicable rates. ICS provides non-asset and asset-light transportation solutions to customers through relationships with third-party carriers and integration with company-owned equipment. ICS services include flatbed, refrigerated, and LTL, as well as a variety of dry-van and intermodal solutions. ICS offers the majority of these services through an online multimodal marketplace via J.B. Hunt 360 that matches the right load with the right carrier and the best mode. FMS provides last-mile delivery services to customers through a nationwide network of cross-dock and other delivery system network locations. FMS provides both asset and non-asset big and bulky delivery and installation services, as well as fulfillment and retail-pooling distributions services. JBT business includes full-load, dry-van freight that is transported utilizing company-owned revenue equipment or third-party carriers utilizing company-owned trailing equipment as well as services through our J.B. Hunt 360box program which utilizes the J.B. Hunt 360 platform to access capacity and offer efficient drop trailer solutions to customers. This freight is typically transported over roads and highways and does not move by rail. All transactions between reporting segments are eliminated in consolidation.

Our customers are geographically dispersed across the United States. A summary of certain segment information is presented below (in millions):

	Assets (Excludes intercompany accounts)
	December 31,
	2022		2021
JBI	$	3,270	$	2,858
DCS		1,910		1,630
ICS		322		428
JBT		515		403
FMS		609		472
Other (includes corporate)		1,161		1,003
Total	$	7,787	$	6,794

	Revenues
	Years ended December 31,
	2022			2021			2020
JBI	$	7,022		$	5,454		$	4,675
DCS		3,378			2,578			2,196
ICS		2,386			2,538			1,658
JBT		1,082			796			463
FMS		980			842			689
Total segment revenues		14,848			12,208			9,681
Intersegment eliminations		(34	)		(40	)		(44	)
Total	$	14,814		$	12,168		$	9,637

	Operating Income
	Years ended December 31,
	2022		2021		2020
JBI	$	800	$	603	$	428
DCS		345		304		314
ICS		59		46		(45	)
JBT		93		65		17
FMS		35		28		(1	)
Total	$	1,332	$	1,046	$	713

	Depreciation and Amortization Expense
	Years ended December 31,
	2022		2021		2020
JBI	$	226	$	198	$	189
DCS		269		233		224
ICS		3		-		-
JBT		45		36		34
FMS		44		35		33
Other		58		55		47
Total	$	645	$	557	$	527