Segment Information (Tables)

6 Months Ended

Jun. 30, 2020

Operating Results, Capital Expenditures And Assets By Reporting Segment

The following tables summarize the operating results, capital expenditures, assets and disaggregated revenues of the Company’s reportable segments.


	Ocean Services $’000	Inland Services $’000	Witt O’Brien’s $’000	Other $’000	Corporate and Eliminations $’000	Total $’000
For the three months ended June 30, 2020
Operating Revenues:
External customers	86,111	63,513	21,163	1,798	—	172,585
Intersegment	—	—	10	—	(10)	—
	86,111	63,513	21,173	1,798	(10)	172,585
Costs and Expenses:
Operating	57,827	53,915	13,104	1,342	(10)	126,178
Administrative and general	8,780	3,292	4,961	877	5,294	23,204
Depreciation and amortization	10,270	6,016	356	615	328	17,585
	76,877	63,223	18,421	2,834	5,612	166,967
Gains on Asset Dispositions	113	8,085	—	—	—	8,198
Operating Income (Loss)	9,347	8,375	2,752	(1,036)	(5,622)	13,816
Other Income (Expense):

Foreign currency gains (losses), net	83	1,653	(9)	—	16	1,743
Other, net	(18)	(3)	—	—	679	658
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax	(1,426)	(701)	256	(1,111)	—	(2,982)
Segment Profit (Loss)	7,986	9,324	2,999	(2,147)
Other Income (Expense) not included in Segment Profit (Loss)							(2,154)
Less Equity Losses included in Segment Profit (Loss)							2,982
Income Before Taxes and Equity Losses						14,063


	Ocean Services $’000	Inland Services $’000	Witt O’Brien’s $’000	Other $’000	Corporate and Eliminations $’000	Total $’000
For the six months ended June 30, 2020
Operating Revenues:
External customers	192,226	124,824	43,634	4,197	—	364,881
Intersegment	—	—	45	—	(45)	—
	192,226	124,824	43,679	4,197	(45)	364,881
Costs and Expenses:
Operating	135,431	104,834	28,795	3,189	(43)	272,206
Administrative and general	19,524	6,780	12,640	2,001	11,280	52,225
Depreciation and amortization	20,552	12,228	615	1,234	685	35,314
	175,507	123,842	42,050	6,424	11,922	359,745
Gains on Asset Dispositions, Net	122	8,400	—	60	—	8,582
Operating Income (Loss)	16,841	9,382	1,629	(2,167)	(11,967)	13,718
Other Income (Expense):

Foreign currency gains (losses), net	5	(2,825)	3	—	(22)	(2,839)
Other, net	4	(3)	70	—	679	750
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax	(2,783)	(4,077)	248	(1,163)	—	(7,775)
Segment Profit (Loss)	14,067	2,477	1,950	(3,330)
Other Income (Expense) not included in Segment Profit (Loss)							(5,446)
Less Equity Losses included in Segment Profit (Loss)							7,775
Income Before Taxes and Equity Losses							6,183

Capital Expenditures	5,518	3,806	—	1,720	1,373	12,417

As of June 30, 2020
Property and Equipment:
Historical cost	937,756	456,479	1,144	11,530	32,336	1,439,245
Accumulated depreciation	(400,416)	(217,915)	(1,049)	(3,602)	(24,418)	(647,400)



Net property and equipment	537,340	238,564	95	7,928	7,918	791,845
Operating Lease Right-of-Use Assets	101,538	27,767	2,222	—	101	131,628
Investments, at Equity, and Advances to 50% or Less Owned Companies	75,791	52,933	1,196	22,308	—	152,228
Inventories	1,146	2,074	143	305	—	3,668
Goodwill	1,852	2,268	28,506	—	—	32,626
Intangible Assets	6,973	6,749	8,268	—	—	21,990
Other current and long-term assets, excluding cash and near cash assets⁽¹⁾	48,811	57,430	112,746	3,932	35,952	258,871
Segment Assets	773,451	387,785	153,176	34,473
Cash and near cash assets⁽¹⁾						135,926

Total Assets						1,528,782

______________________

(1)Cash and near cash assets includes cash, cash equivalents, restricted cash, restricted cash equivalents and marketable securities.


	Ocean Services $’000	Inland Services $’000	Witt O’Brien’s $’000	Other $’000	Corporate and Eliminations $’000	Total $’000
For the three months ended June 30, 2019
Operating Revenues:
External customers	109,681	61,455	23,745	2,142	—	197,023
Intersegment	—	—	8	—	(8)	—
	109,681	61,455	23,753	2,142	(8)	197,023
Costs and Expenses:
Operating	71,230	54,486	15,691	1,472	(8)	142,871
Administrative and general	9,423	3,133	6,831	837	6,490	26,714
Depreciation and amortization	10,230	5,699	209	493	378	17,009
	90,883	63,318	22,731	2,802	6,860	186,594
Gains (Losses) on Asset Dispositions, Net	349	330	—	(2)	—	677
Operating Income (Loss)	19,147	(1,533)	1,022	(662)	(6,868)	11,106
Other Income (Expense):

Foreign currency gains (losses), net	1	(191)	—	—	(1)	(191)
Other, net	28	—	(2)	—	(1)	25
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax	700	(618)	(128)	(266)	—	(312)
Segment Profit (Loss)	19,876	(2,342)	892	(928)
Other Income (Expense) not included in Segment Profit (Loss)							9,763
Less Equity Losses included in Segment Profit (Loss)							312
Income Before Taxes and Equity Losses							20,703


	Ocean Services $’000	Inland Services $’000	Witt O’Brien’s $’000	Other $’000	Corporate and Eliminations $’000	Total $’000
For the six months ended June 30, 2019
Operating Revenues:
External customers	218,953	127,057	56,590	3,947	—	406,547
Intersegment	—	—	106	—	(106)	—
	218,953	127,057	56,696	3,947	(106)	406,547
Costs and Expenses:
Operating	141,162	108,731	37,463	2,725	(99)	289,982
Administrative and general	19,621	6,489	13,233	1,676	12,441	53,460
Depreciation and amortization	20,567	11,424	415	982	757	34,145
	181,350	126,644	51,111	5,383	13,099	377,587
Gains (Losses) on Asset Dispositions, Net	366	750	—	(2)	—	1,114
Operating Income (Loss)	37,969	1,163	5,585	(1,438)	(13,205)	30,074
Other Income (Expense):

Foreign currency gains (losses), net	(46)	268	—	—	(8)	214
Other, net	(623)	—	(5)	—	9	(619)
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax	811	(3,090)	(195)	(356)	—	(2,830)
Segment Profit (Loss)	38,111	(1,659)	5,385	(1,794)
Other Income (Expense) not included in Segment Profit (Loss)							8,825
Less Equity Losses included in Segment Profit (Loss)							2,830
Income Before Taxes and Equity Losses						38,494

Capital Expenditures	542	6,860	40	308	—	7,750

As of June 30, 2019
Property and Equipment:
Historical cost	930,719	446,392	1,267	7,574	30,132	1,416,084
Accumulated depreciation	(361,863)	(205,792)	(1,079)	(1,472)	(22,962)	(593,168)



Net property and equipment	568,856	240,600	188	6,102	7,170	822,916
Operating Lease Right-of-Use Assets	122,292	34,791	877	—	3,558	161,518
Investments, at Equity, and Advances to 50% or Less Owned Companies	77,644	56,504	280	21,217	—	155,645
Inventories	1,494	2,973	647	179	—	5,293
Goodwill	1,852	2,356	28,506	—	—	32,714
Intangible Assets	8,301	8,244	6,228	—	—	22,773
Other current and long-term assets, excluding cash and near cash assets⁽¹⁾	56,598	49,737	91,993	3,630	17,319	219,277
Segment Assets	837,037	395,205	128,719	31,128
Cash and near cash assets⁽¹⁾						183,254

Total Assets						1,603,390

______________________

(1)Cash and near cash assets includes cash, cash equivalents, restricted cash, restricted cash equivalents, marketable securities and construction reserve funds

Disaggregation of Revenue


	Ocean Services $’000	Inland Services $’000	Witt O’Brien’s $’000	Other $’000	Corporate and Eliminations $’000	Total $’000
For the six months ended June 30, 2020
Revenues from Contracts with Customers:
Voyage charters	27,199	—	—	—	—	27,199
Contracts of affreightment	8,311	87,690	—	—	—	96,001
Tariff	38,475	—	—	—	—	38,475
Unit freight	26,809	—	—	—	—	26,809
Terminal operations	—	11,141	—	—	—	11,141
Fleeting operations	—	8,844	—	—	—	8,844
Logistics Services	—	7,937	—	—	—	7,937
Time and material contracts	—	—	37,030	—	—	37,030
Retainer contracts	—	—	5,365	—	—	5,365
Product sales⁽¹⁾	—	—	—	3,169	—	3,169
Other	1,902	3,255	1,284	824	(45)	7,220
Lease Revenues:
Time charter, bareboat charter and rental income	89,530	5,957	—	204	—	95,691
	192,226	124,824	43,679	4,197	(45)	364,881

______________________

(1)Cost of goods sold related to product sales was $2.4 million.


	Ocean Services $’000	Inland Services $’000	Witt O’Brien’s $’000	Other $’000	Corporate and Eliminations $’000	Total $’000
For the six months ended June 30, 2019
Revenues from Contracts with Customers:
Voyage charters	25,729	—	—	—	—	25,729
Contracts of affreightment	10,647	94,795	—	—	—	105,442
Tariff	41,962	—	—	—	—	41,962
Unit freight	32,312	—	—	—	—	32,312
Terminal operations	—	8,604	—	—	—	8,604
Fleeting operations	—	7,967	—	—	—	7,967
Logistics Services	—	8,113	—	—	—	8,113
Time and material contracts	—	—	50,586	—	—	50,586
Retainer contracts	—	—	4,802	—	—	4,802
Product sales⁽¹⁾	—	—	—	2,887	—	2,887
Other	1,922	2,279	1,308	584	(106)	5,987
Lease Revenues:
Time charter, bareboat charter and rental income	106,381	5,299	—	476	—	112,156
	218,953	127,057	56,696	3,947	(106)	406,547

______________________

(1)Cost of goods sold related to product sales was $2.4 million.