Note 9 - Business Segments

3 Months Ended

Mar. 31, 2025

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

9. Business Segments

We reported five distinct business segments during the three months ended March 31, 2025 and 2024. These segments included Intermodal (JBI), Dedicated Contract Services® (DCS®), Integrated Capacity Solutions (ICS), Final Mile Services® (FMS), and Truckload (JBT). The operation of each of these businesses is described in Note 13, Segment Information, of our Annual Report (Form 10-K) for the year ended December 31, 2024. A summary of certain segment information is presented below (in millions):

	Assets (Excludes intercompany accounts) As of
	March 31, 2025		December 31, 2024
JBI	$	3,499	$	3,507
DCS		2,234		2,195
ICS		272		288
FMS		521		544
JBT		371		389
Total segment assets		6,897		6,923
Other (includes corporate)		1,359		1,389
Total	$	8,256	$	8,312

	Net Capital Expenditures (1) For The Three Months Ended March 31,
	2025			2024
JBI	$	53.9		$	53.5
DCS		77.3			59.5
ICS		0.2			4.3
FMS		6.1			8.0
JBT		(0.3	)		8.2
Total segment net capital expenditures		137.2			133.5
Other (includes corporate)		87.9			32.7
Total	$	225.1		$	166.2

	Revenues and Operating Income/(Loss)
	For The Three Months ended March 31, 2025
	JBI		DCS		ICS			FMS		JBT		Intersegment Eliminations			Consolidated
Total operating revenues	$	1,469.3	$	822.3	$	268.0		$	200.7	$	166.6	$	(5.5	)	$	2,921.4
Operating expenses:
Rents, purchased transportation, and fuel		927.0		109.2		229.0			71.9		121.4
Salaries, wages and employee benefits		219.0		371.4		16.8			70.6		10.4
Depreciation and amortization		60.6		79.8		2.0			11.3		8.7
Operating supplies and expenses		62.2		70.4		1.5			10.1		6.8
Insurance and claims		28.7		44.0		4.6			6.3		5.6
General and administrative expenses, net of asset dispositions		69.2		52.6		16.6			23.7		11.3
Other segment items (2)		8.2		14.6		0.2			2.1		0.4
Total operating expenses		1,374.9		742.0		270.7			196.0		164.6		(5.5	)		2,742.7
Operating Income (3)	$	94.4	$	80.3	$	(2.7	)	$	4.7	$	2.0	$	-		$	178.7

	Revenues and Operating Income/(Loss)
	For The Three Months ended March 31, 2024
	JBI		DCS		ICS			FMS		JBT		Intersegment Eliminations			Consolidated
Total operating revenues	$	1,395.5	$	860.0	$	285.3		$	229.3	$	178.3	$	(4.4	)	$	2,944.0
Operating expenses:
Rents, purchased transportation, and fuel		879.6		121.3		246.7			80.7		130.1
Salaries, wages and employee benefits		201.2		382.8		21.0			80.3		11.2
Depreciation and amortization		60.4		82.2		3.3			11.7		9.1
Operating supplies and expenses		57.7		69.4		1.6			10.9		7.2
Insurance and claims		24.4		40.3		8.4			1.8		6.6
General and administrative expenses, net of asset dispositions		62.3		55.4		21.5			26.3		12.3
Other segment items (2)		8.0		15.0		0.3			2.5		0.6
Total operating expenses		1,293.6		766.4		302.8			214.2		177.1		(4.5	)		2,749.6
Operating Income (3)	$	101.9	$	93.6	$	(17.5	)	$	15.1	$	1.2	$	0.1		$	194.4

(1)	Net capital expenditures report the additions to property and equipment, net of proceeds from the sale of property and equipment.
(2)	Other segment items include communication, utilities, and operating taxes and licenses expense items.
(3)	Refer to the Condensed Consolidated Statements of Earnings for the reconciliation of consolidated operating income to earnings before income taxes.