Business Segments

3 Months Ended

Mar. 31, 2021

Segment Reporting [Abstract]

Business Segments

Business Segments

We operate in three reportable segments consisting of aviation, land and marine. Corporate expenses are allocated to the segments based on usage, where possible, or on other factors according to the nature of the activity. Our operating segments are determined based on the different markets in which we provide products and services, which are defined primarily by the customers and the products and services provided to those customers. Accordingly, our aviation, land and marine segments are organized based on the specific markets their functional business components serve, which are primarily businesses and governmental customers operating in those respective markets.

 Information concerning our Revenue, Gross profit and Income from operations by reportable segment is as follows for the three months ended March 31, 2021 and 2020 (in millions):

	For the Three Months Ended
	March 31,
Revenue:	2021		2020
Aviation segment	$	2,095.0	$	3,764.1
Land segment	2,188.2		2,106.0
Marine segment	1,674.7		2,145.0
	$	5,957.9	$	8,015.2
Gross profit:
Aviation segment	$	76.7	$	93.2
Land segment	89.5		106.3
Marine segment	25.4		59.3
	$	191.6	$	258.7
Income from operations:
Aviation segment	$	23.0	$	29.1
Land segment	32.8		25.7
Marine segment	6.4		33.9
	62.1		88.6
Corporate overhead - unallocated	(24.5)		(17.8)
	$	37.6	$	70.8

Information concerning our Accounts receivable, net of allowance for credit losses and Total assets by segment is as follows as of March 31, 2021 and December 31, 2020 (in millions):

	As of
	March 31,		December 31
	2021		2020
Accounts receivable, net:
Aviation segment, net of allowance for credit losses of $31.0 and $41.2 as of March 31, 2021 and December 31, 2020, respectively	$	570.0	$	464.7
Land segment, net of allowance for credit losses of $4.6 and $5.0 as of March 31, 2021 and December 31, 2020, respectively	520.9		394.5
Marine segment, net of allowance for credit losses of $8.2 and $7.6 as of March 31, 2021 and December 31, 2020, respectively	578.4		379.2
	$	1,669.2	$	1,238.4
Total assets:
Aviation segment	$	1,868.5	$	1,789.5
Land segment	1,598.0		1,459.5
Marine segment	902.7		667.6
Corporate	556.1		583.7
	$	4,925.4	$	4,500.3