Annual report pursuant to Section 13 and 15(d)

Segment Information

v3.19.3.a.u2
Segment Information
12 Months Ended
Dec. 31, 2019
Segment Reporting [Abstract]  
Segment Information
18. SEGMENT INFORMATION
The following tables summarize the operating results, capital expenditures and assets 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 year ended December 31, 2019
Operating Revenues:
External customers 423,288    267,334    101,663    7,681    —    799,966   
Intersegment —    —    120    —    (120)   —   
423,288    267,334    101,783    7,681    (120)   799,966   
Costs and Expenses:
Operating    280,809    229,418    68,052    5,464    (110)   583,633   
Administrative and general    40,215    13,140    25,959    3,489    22,714    105,517   
Depreciation and amortization 40,986    23,262    835    1,982    1,506    68,571   
362,010    265,820    94,846    10,935    24,110    757,721   
Gains (Losses) on Asset Dispositions, Net 1,291    1,602    18    32    (33)   2,910   
Operating Income (Loss) 62,569    3,116    6,955    (3,222)   (24,263)   45,155   
Other Income (Expense):
Foreign currency losses, net (98)   (212)   (1)   —    (1)   (312)  
Other, net (112)   —    (463)   431    10    (134)  
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax (669)   (6,520)   902    1,037    —    (5,250)  
Segment Profit (Loss) 61,690    (3,616)   7,393    (1,754)  
Other Income (Expense) not included in Segment Profit 4,388   
Plus Equity in Losses included in Segment Profit 5,250   
Income Before Taxes and Equity in Losses 49,097   
Capital Expenditures 4,859    30,040    47    1,997    843    37,786   
As of December 31, 2019
Property and Equipment:
Historical cost 932,267    469,120    1,134    8,897    30,964    1,442,382   
Accumulated depreciation (380,553)   (216,296)   (993)   (2,450)   (23,732)   (624,024)  
Net property and equipment 551,714    252,824    141    6,447    7,232    818,358   
Operating Lease Right-of-Use Assets 109,460    31,338    3,045    —    696    144,539   
Investments, at Equity, and Advances to 50% or Less Owned Companies 78,049    55,092    1,274    22,693    —    157,108   
Inventories 2,233    2,510    266    246    —    5,255   
Goodwill 1,852    2,343    28,506    —    —    32,701   
Intangible Assets 7,637    7,497    5,862    —    —    20,996   
Other current and long-term assets, excluding cash and near cash assets(1)
54,842    71,043    108,373    4,760    8,617    247,635   
Segment Assets 805,787    422,647    147,467    34,146   
Cash and near cash assets(1)
86,380   
Total Assets 1,512,972   
______________________
(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 year ended December 31, 2019
Revenues from Contracts with Customers:
Voyage charters 46,381    —    —    —    —    46,381   
Contracts of affreightment 24,540    202,317    —    —    —    226,857   
Tariff 79,757    —    —    —    —    79,757   
Unit freight 63,420    —    —    —    —    63,420   
Terminal operations —    16,562    —    —    —    16,562   
Fleeting operations —    17,264    —    —    —    17,264   
Logistics services —    15,155    —    —    —    15,155   
Time and material contracts —    —    87,167    —    —    87,167   
Retainer contracts —    —    9,874    —    —    9,874   
Product sales(1)
—    —    —    5,555    —    5,555   
Other 3,844    5,134    4,742    1,144    (120)   14,744   
Lease Revenues:
Time charter, bareboat charter and rental income 205,346    10,902    —    982    —    217,230   
423,288    267,334    101,783    7,681    (120)   799,966   
______________________
(1)Costs of goods sold related to product sales was $4.5 million.
Ocean
Services
$’000
Inland
Services
$’000
Witt
O’Brien’s
$’000
Other
$’000
Corporate
and
Eliminations
$’000
Total
$’000
For the year ended December 31, 2018
Operating Revenues:
External customers 414,844    285,688    131,629    3,589    —    835,750   
Intersegment —    —    80    —    (80)   —   
414,844    285,688    131,709    3,589    (80)   835,750   
Costs and Expenses:
Operating 269,294    237,010    83,203    2,455    (114)   591,848   
Administrative and general 40,179    13,139    24,772    1,841    22,976    102,907   
Depreciation and amortization 46,270    24,164    1,944    501    1,700    74,579   
355,743    274,313    109,919    4,797    24,562    769,334   
Gains on Asset Dispositions 12,887    6,659    —    37    —    19,583   
Operating Income (Loss) 71,988    18,034    21,790    (1,171)   (24,642)   85,999   
Other Income (Expense):
Foreign currency losses, net (168)   (2,002)   (28)   (3)   (63)   (2,264)  
Other, net 570    51    —    54,249    94    54,964   
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax 3,632    (5,686)   203    1,779    —    (72)  
Segment Profit 76,022    10,397    21,965    54,854   
Other Income (Expense) not included in Segment Profit (47,010)  
Plus Equity in Losses included in Segment Profit 72   
Income Before Taxes and Equity in Losses 91,689   
Capital Expenditures 39,207    8,298    —    2,639    128    50,272   
As of December 31, 2018
Property and Equipment:
Historical cost 930,230    438,848    1,227    6,892    30,132    1,407,329   
Accumulated depreciation (341,999)   (195,094)   (1,031)   (490)   (22,205)   (560,819)  
Net property and equipment 588,231    243,754    196    6,402    7,927    846,510   
Investments, at Equity, and Advances to 50% or Less Owned Companies 73,939    57,899    471    24,577    —    156,886   
Inventories 2,196    1,997    179    158    —    4,530   
Goodwill 1,852    2,350    28,506    —    —    32,708   
Intangible Assets 8,965    8,991    6,595    —    —    24,551   
Other current and long-term assets, excluding cash and near cash assets(1)
48,770    78,903    81,410    2,142    13,178    224,403   
Segment Assets 723,953    393,894    117,357    33,279   
Cash and near cash assets(1)
181,436   
Total Assets 1,471,024   
______________________
(1)Cash and near cash assets includes cash, cash equivalents, restricted cash, restricted cash equivalents, marketable securities and construction reserve funds.
Ocean
Services
$’000
Inland
Services
$’000
Witt
O’Brien’s
$’000
Other
$’000
Corporate
and
Eliminations
$’000
Total
$’000
For the year ended December 31, 2018
Revenues from Contracts with Customers:
Voyage charters 73,979    —    —    —    —    73,979   
Contracts of affreightment 11,872    219,375    —    —    —    231,247   
Tariff 74,157    —    —    —    —    74,157   
Unit freight 58,326    —    —    —    —    58,326   
Terminal operations —    21,501    —    —    —    21,501   
Fleeting operations —    17,888    —    —    —    17,888   
Logistics services —    14,309    —    —    —    14,309   
Time and material contracts —    —    119,196    —    —    119,196   
Retainer contracts —    —    10,124    —    —    10,124   
Product sales(1)
—    —    —    2,686    —    2,686   
Other 3,268    5,223    2,389    425    (80)   11,225   
Lease Revenues:
Time charter, bareboat charter and rental income 193,242    7,392    —    478    —    201,112   
414,844    285,688    131,709    3,589    (80)   835,750   
______________________
(1)Costs of goods sold related to product sales was $2.1 million.
Ocean
Services
$’000
Inland
Services
$’000
Witt
O’Brien’s
$’000
Other
$’000
Corporate
and
Eliminations
$’000
Total
$’000
As Adjusted As Adjusted
For the year ended December 31, 2017
Operating Revenues:
External customers 352,876    248,452    49,055    464    —    650,847   
Intersegment —    —    101    —    (101)   —   
352,876    248,452    49,156    464    (101)   650,847   
Costs and Expenses:
Operating 195,285    206,836    32,017    —    (301)   433,837   
Administrative and general 36,548    16,558    13,438    831    35,731    103,106   
Depreciation and amortization 46,073    25,852    819    —    2,314    75,058   
277,906    249,246    46,274    831    37,744    612,001   
Gains (Losses) on Asset Dispositions and Impairments, Net (323)   11,960    —    —    —    11,637   
Operating Income (Loss) 74,647    11,166    2,882    (367)   (37,845)   50,483   
Other Income (Expense):
Derivative gains, net —    —    —    —    19,727    19,727   
Foreign currency gains (losses), net (130)   272    50      125    323   
Other, net 327    —    —    (301)   230    256   
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax 7,664    (5,191)   174    305    —    2,952   
Segment Profit (Loss) 82,508    6,247    3,106    (357)  
Other Income (Expense) not included in Segment Profit (35,584)  
Less Equity in Earnings included in Segment Profit (2,952)  
Income Before Taxes and Equity in Earnings 35,205   
Capital Expenditures 80,006    34,322    60    —    207    114,595   
As of December 31, 2017
Property and Equipment:
Historical cost 901,076    448,035    1,227    —    30,131    1,380,469   
Accumulated depreciation (299,528)   (181,573)   (938)   —    (20,505)   (502,544)  
Net property and equipment 601,548    266,462    289    —    9,626    877,925   
Investments, at Equity, and Advances to 50% or Less Owned Companies 52,003    66,479    777    54,182    —    173,441   
Inventories 2,352    1,934    91    —    —    4,377   
Goodwill 1,852    2,403    28,506    —    —    32,761   
Intangible Assets 10,293    10,486    7,327    —    —    28,106   
Other current and long-term assets, excluding cash and near cash assets(1)
49,498    71,500    28,398    1,391    9,611    160,398   
Segment Assets 717,546    419,264    65,388    55,573   
Cash and near cash assets(1)
336,328   
Total Assets 1,613,336   
______________________
(1)Cash and near cash assets includes cash, cash equivalents, restricted cash, restricted cash equivalents, marketable securities and construction reserve funds.
Ocean
Services
$’000
Inland
Services
$’000
Witt
O’Brien’s
$’000
Other
$’000
Corporate
and
Eliminations
$’000
Total
$’000
As Adjusted As Adjusted
For the year ended December 31, 2017
Revenues from Contracts with Customers:
Voyage charters 33,623    —    —    —    —    33,623   
Contracts of affreightment 15,181    189,080    —    —    —    204,261   
Tariff 68,266    —    —    —    —    68,266   
Unit freight 50,693    —    —    —    —    50,693   
Terminal operations —    21,488    —    —    —    21,488   
Fleeting operations —    15,561    —    —    —    15,561   
Logistics services —    8,868    —    —    —    8,868   
Time and material contracts —    —    33,352    —    —    33,352   
Retainer contracts —    —    10,192    —    —    10,192   
Other 1,879    5,163    5,612    464    (101)   13,017   
Lease Revenues:
Time charter, bareboat charter and rental income 183,234    8,292    —    —    —    191,526   
352,876    248,452    49,156    464    (101)   650,847