Business Segments

3 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

Business Segments

11. Business Segments

We operate in three reportable segments consisting of aviation, land and marine. Our operating segments are determined based on the different markets in which we provide products and services, which are defined primarily by the customers (businesses and governmental) and the products and services provided to those customers. We use Income from operations as our primary measure of profit as we believe it is the most meaningful measure to allocate resources and assess the performance or our segments. Corporate expenses are allocated to the segments based on usage, where possible, or on other factors according to the nature of the activity. 

Information concerning our Revenue and Income from operations by reportable segment is as follows (in millions):

	For the Three Months Ended March 31,
Revenue:	2023		2022
Aviation segment	$	6,222.8	$	5,010.5
Land segment	3,891.3		4,380.8
Marine segment	2,367.5		2,990.6
Total revenue	$	12,481.6	$	12,382.0
Income from operations:
Aviation segment	$	34.0	$	7.5
Land segment	26.2		33.4
Marine segment	30.8		23.1
Corporate overhead - unallocated	(26.4)		(22.8)
Total income from operations	$	64.6	$	41.3

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

	March 31, 2023		December 31, 2022
Accounts receivable, net:
Aviation segment, net of allowance for credit losses of $5.5 and $4.9 as of March 31, 2023 and December 31, 2022, respectively	$	1,579.1	$	1,452.4
Land segment, net of allowance for credit losses of $5.8 and $5.8 as of March 31, 2023 and December 31, 2022, respectively	884.7		1,141.9
Marine segment, net of allowance for credit losses of $3.2 and $3.4 as of March 31, 2023 and December 31, 2022, respectively	533.4		699.8
Total accounts receivable, net	$	2,997.2	$	3,294.1
Total assets:
Aviation segment	$	2,965.7	$	3,036.2
Land segment	3,116.6		3,710.1
Marine segment	818.2		1,007.4
Corporate	585.2		410.8
Total assets	$	7,485.8	$	8,164.6