Quarterly report pursuant to Section 13 or 15(d)

Segment Information (Tables)

v3.20.2
Segment Information (Tables)
6 Months Ended
Jun. 30, 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 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   (2,825)     —    (22)   (2,839)  
Other, net   (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)   —   
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   (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)   —      (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.