Quarterly report pursuant to Section 13 or 15(d)

Segment Information (Tables)

v3.20.1
Segment Information (Tables)
 3 Months Ended
Mar. 31, 2020
Segment Reporting [Abstract]  
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 March 31, 2020
Operating Revenues:
External customers 106,115    61,311    22,471    2,399    —    192,296   
Intersegment —    —    35    —    (35)   —   
106,115    61,311    22,506    2,399    (35)   192,296   
Costs and Expenses:
Operating 77,604    50,919    15,691    1,847    (33)   146,028   
Administrative and general 10,744    3,488    7,679    1,124    5,986    29,021   
Depreciation and amortization 10,282    6,212    259    619    357    17,729   
98,630    60,619    23,629    3,590    6,310    192,778   
Gains on Asset Dispositions, Net 9    315    —    60    —    384   
Operating Income (Loss) 7,494    1,007    (1,123)   (1,131)   (6,345)   (98)  
Other Income (Expense):
Foreign currency gains (losses), net (78)   (4,478)   12    —    (38)   (4,582)  
Other, net 22    —    70    —    —    92   
Equity in Losses of 50% or Less Owned Companies, Net of Tax (1,357)   (3,376)   (8)   (52)   —    (4,793)  
Segment Profit (Loss) 6,081    (6,847)   (1,049)   (1,183)  
Other Income (Expense) not included in Segment Loss (3,292)  
Less Equity Losses included in Segment Loss 4,793   
Loss Before Taxes and Equity Losses (7,880)  
Capital Expenditures 3,177    2,196    —    839    165    6,377   
As of March 31, 2020
Property and Equipment:
Historical cost 935,400    463,291    1,142    10,547    31,129    1,441,509   
Accumulated depreciation (390,481)   (220,798)   (1,024)   (3,032)   (24,089)   (639,424)  
Net property and equipment 544,919    242,493    118    7,515    7,040    802,085   
Operating Lease Right-of-Use Assets 103,725    29,564    2,626    —    265    136,180   
Investments, at Equity, and Advances to 50% or Less Owned Companies 75,357    52,443    987    22,781    —    151,568   
Inventories 1,605    1,988    211    246    —    4,050   
Goodwill 1,852    2,228    28,506    —    —    32,586   
Intangible Assets 7,305    7,123    8,524    —    —    22,952   
Other current and long-term assets, excluding cash and near cash assets(1)
62,775    55,794    110,415    5,043    40,263    274,290   
Segment Assets 797,538    391,633    151,387    35,585   
Cash and near cash assets(1)
85,162   
Total Assets 1,508,873   
______________________
(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 March 31, 2019
Operating Revenues:
External customers 109,272    65,602    32,845    1,805    —    209,524   
Intersegment —    —    98    —    (98)   —   
109,272    65,602    32,943    1,805    (98)   209,524   
Costs and Expenses:
Operating 69,932    54,245    21,772    1,253    (91)   147,111   
Administrative and general 10,198    3,356    6,402    839    5,951    26,746   
Depreciation and amortization 10,337    5,725    206    489    379    17,136   
90,467    63,326    28,380    2,581    6,239    190,993   
Gains on Asset Dispositions 17    420    —    —    —    437   
Operating Income (Loss) 18,822    2,696    4,563    (776)   (6,337)   18,968   
Other Income (Expense):
Foreign currency gains (losses), net (47)   459    —    —    (7)   405   
Other, net (651)   —    (3)   —    10    (644)  
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax 111    (2,472)   (67)   (90)   —    (2,518)  
Segment Profit (Loss) 18,235    683    4,493    (866)  
Other Income (Expense) not included in Segment Profit (938)  
Less Equity Losses included in Segment Profit 2,518   
Income Before Taxes and Equity Losses 17,791   
Capital Expenditures 247    5,237    20    145    —    5,649   
As of March 31, 2019
Property and Equipment:
Historical cost 930,464    444,609    1,246    7,037    30,132    1,413,488   
Accumulated depreciation (352,005)   (200,516)   (1,053)   (979)   (22,583)   (577,136)  
Net property and equipment 578,459    244,093    193    6,058    7,549    836,352   
Operating Lease Right-of-Use Assets 125,640    36,534    987    —    4,164    167,325   
Investments, at Equity, and Advances to 50% or Less Owned Companies 74,127    56,238    419    24,506    —    155,290   
Inventories 2,042    2,183    366    323    —    4,914   
Goodwill 1,852    2,362    28,506    —    —    32,720   
Intangible Assets 8,633    8,618    6,411    —    —    23,662   
Other current and long-term assets, excluding cash and near cash assets(1)
53,070    62,832    91,591    2,383    10,231    220,107   
Segment Assets 843,823    412,860    128,473    33,270   
Cash and near cash assets(1)
181,436   
Total Assets 1,621,806   
______________________
(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 three months ended March 31, 2020
Revenues from Contracts with Customers:
Voyage charters 16,037    —    —    —    —    16,037   
Contracts of affreightment 4,496    43,703    —    —    —    48,199   
Tariff 22,571    —    —    —    —    22,571   
Unit freight 16,448    —    —    —    —    16,448   
Terminal operations —    5,724    —    —    —    5,724   
Fleeting operations —    4,354    —    —    —    4,354   
Logistics Services —    3,287    —    —    —    3,287   
Time and material contracts —    —    19,206    —    —    19,206   
Retainer contracts —    —    2,554    —    —    2,554   
Product sales(1)
—    —    —    1,657    —    1,657   
Other 950    1,257    746    640    (35)   3,558   
Lease Revenues:
Time charter, bareboat charter and rental income 45,613    2,986    —    102    —    48,701   
106,115    61,311    22,506    2,399    (35)   192,296   
______________________
(1)Cost of goods sold related to product sales was $1.4 million.
Ocean
Services
$’000		 Inland
Services
$’000		 Witt
O’Brien’s
$’000		 Other
$’000		 Corporate
and
Eliminations
$’000		 Total
$’000
For the three months ended March 31, 2019
Revenues from Contracts with Customers:
Voyage charters 9,314    —    —    —    —    9,314   
Contracts of affreightment 3,730    48,984    —    —    —    52,714   
Tariff 20,996    —    —    —    —    20,996   
Unit freight 16,012    —    —    —    —    16,012   
Terminal operations —    5,480    —    —    —    5,480   
Fleeting operations —    4,070    —    —    —    4,070   
Logistics Services —    3,538    —    —    —    3,538   
Time and material contracts —    —    29,946    —    —    29,946   
Retainer contracts —    —    2,405    —    —    2,405   
Product sales(1)
—    —    —    1,310    —    1,310   
Other 934    902    592    255    (98)   2,585   
Lease Revenues:
Time charter, bareboat charter and rental income 58,286    2,628    —    240    —    61,154   
109,272    65,602    32,943    1,805    (98)   209,524   
______________________
(1)Cost of goods sold related to product sales was $1.1 million.