Annual report pursuant to Section 13 and 15(d)

Segment Information (Tables)

v3.20.4
Segment Information (Tables)
 12 Months Ended
Dec. 31, 2020
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by segment
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, 2020
Operating Revenues:
External customers 381,255  271,889  92,416  8,266  —  753,826 
Intersegment —  —  64  —  (64) — 
381,255  271,889  92,480  8,266  (64) 753,826 
Costs and Expenses:
Operating 261,224  222,186  58,520  6,168  (58) 548,040 
Administrative and general 42,847  13,956  28,060  3,287  25,163  113,313 
Depreciation and amortization 40,787  24,917  1,335  2,167  1,347  70,553 
344,858  261,059  87,915  11,622  26,452  731,906 
Gains on Asset Dispositions, Net 1,510  9,165  —  60  —  10,735 
Operating Income (Loss) 37,907  19,995  4,565  (3,296) (26,516) 32,655 
Other Income (Expense):
Foreign currency gains (losses), net 452  (852) (48) —  66  (382)
Other, net 2  1,937  149  29  977  3,094 
Equity in Earnings (Losses) of 50% or Less Owned Companies, Net of Tax (1,906) (7,756) 806  (1,327) —  (10,183)
Segment Profit (Loss) 36,455  13,324  5,472  (4,594)
Other Income (Expense) not included in Segment Profit (8,975)
Plus Equity in Losses included in Segment Profit 10,183 
Income Before Taxes and Equity in Losses 26,392 
Capital Expenditures 15,122  10,873  —  2,433  3,097  31,525 
As of December 31, 2020
Property and Equipment:
Historical cost 928,950  479,588  493  12,139  20,701  1,441,871 
Accumulated depreciation (407,286) (224,096) (442) (4,535) (11,320) (647,679)
Net property and equipment 521,664  255,492  51  7,604  9,381  794,192 
Operating Lease Right-of-Use Assets 88,861  23,961  1,396  —  2,879  117,097 
Investments, at Equity, and Advances to 50% or Less Owned Companies 82,186  50,315  1,247  21,651  —  155,399 
Inventories 858  1,721  191  163  —  2,933 
Goodwill 1,852  2,319  28,506  —  —  32,677 
Intangible Assets 6,308  6,002  7,813  —  —  20,123 
Other current and long-term assets, excluding cash and near cash assets(1)
57,406  100,074  137,319  4,127  36,338  335,264 
Segment Assets 759,135  439,884  176,523  33,545 
Cash and near cash assets(1)
74,419 
Total Assets 1,532,104 
______________________
(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
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  229,117  68,052  5,464  (110) 583,332 
Administrative and general 40,215  13,441  25,959  3,489  22,714  105,818 
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, 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)
Less 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.
Disaggregation of Revenue
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, 2020
Revenues from Contracts with Customers:
Voyage charters 60,863  —  —  —  —  60,863 
Contracts of affreightment 12,876  199,011  —  —  —  211,887 
Tariff 68,758  —  —  —  —  68,758 
Unit freight 48,934  —  —  —  —  48,934 
Terminal operations —  20,794  —  —  —  20,794 
Fleeting operations —  17,993  —  —  —  17,993 
Logistics services —  15,892  —  —  —  15,892 
Time and material contracts —  —  78,184  —  —  78,184 
Retainer contracts —  —  11,823  —  —  11,823 
Product sales(1)
—  —  —  6,402  —  6,402 
Other 3,952  6,349  2,473  1,465  (64) 14,175 
Lease Revenues:
Time charter, bareboat charter and rental income 185,872  11,850  —  399  —  198,121 
381,255  271,889  92,480  8,266  (64) 753,826 
______________________
(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, 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
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