Business Segments

9 Months Ended

Sep. 30, 2021

Segment Reporting [Abstract]

Business Segments

9. 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 (in millions):

	Three Months Ended September 30,				Nine Months Ended September 30,
Revenue:	2021		2020		2021		2020
Aviation segment	$	3,579.7	$	1,596.2	$	8,480.5	$	6,381.0
Land segment	2,670.4		1,645.2		7,315.8		4,948.8
Marine segment	2,100.7		1,241.2		5,597.8		4,326.4
Total revenue	$	8,350.9	$	4,482.7	$	21,394.2	$	15,656.2
Gross profit:
Aviation segment	$	113.0	$	97.6	$	277.1	$	282.6
Land segment	62.6		84.3		225.9		275.4
Marine segment	21.9		32.0		70.0		128.6
Total gross profit	$	197.5	$	214.0	$	573.0	$	686.6
Income from operations:
Aviation segment	$	57.0	$	29.2	$	114.0	$	67.3
Land segment	3.7		18.8		44.5		54.1
Marine segment	3.6		8.2		14.8		55.4
Corporate overhead - unallocated	(22.6)		(17.4)		(63.1)		(55.3)
Total income from operations	$	41.7	$	38.8	$	110.2	$	121.5

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

	September 30, 2021		December 31, 2020
Accounts receivable, net:
Aviation segment, net of allowance for credit losses of $18.7 and $41.2 as of September 30, 2021 and December 31, 2020, respectively	$	849.2	$	464.7
Land segment, net of allowance for credit losses of $3.6 and $5.0 as of September 30, 2021 and December 31, 2020, respectively	556.8		394.5
Marine segment, net of allowance for credit losses of $3.0 and $7.6 as of September 30, 2021 and December 31, 2020, respectively	626.6		379.2
Total accounts receivable, net	$	2,032.5	$	1,238.4
Total assets:
Aviation segment	$	2,222.8	$	1,789.5
Land segment	1,780.3		1,459.5
Marine segment	981.2		667.6
Corporate	560.1		583.7
Total assets	$	5,544.3	$	4,500.3