v3.25.2
Note 9 - Business Segments
6 Months Ended
Jun. 30, 2025
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

9.

Business Segments

 

We reported five distinct business segments during the six months ended June 30, 2025 and 2024. These segments included Intermodal (JBI), Dedicated Contract Services® (DCS®), Integrated Capacity Solutions (ICS), Final Mile Services® (FMS), and Truckload (JBT). The operation of each of these businesses is described in Note 13, Segment Information, of our Annual Report (Form 10-K) for the year ended December 31, 2024. A summary of certain segment information is presented below (in millions):

 

   

Assets

(Excludes intercompany accounts)

As of

 
   

June 30, 2025

   

December 31, 2024

 

JBI

  $ 3,485     $ 3,507  

DCS

    2,198       2,195  

ICS

    263       288  

FMS

    514       544  

JBT

    368       389  

Total segment assets

    6,828       6,923  

Other (includes corporate)

    1,413       1,389  

Total

  $ 8,241     $ 8,312  

 

   

Net Capital Expenditures (1)

For The Six Months Ended

June 30,

 
   

2025

   

2024

 

JBI

  $ 132.3     $ 181.6  

DCS

    140.4       102.3  

ICS

    0.6       11.1  

FMS

    8.3       10.6  

JBT

    (0.1 )     12.5  

Total segment net capital expenditures

    281.5       318.1  

Other (includes corporate)

    117.6       90.8  

Total

  $ 399.1     $ 408.9  

 

   

Revenues and Operating Income/(Loss)

 
   

For The Three Months ended June 30, 2025

 
   

JBI

   

DCS

   

ICS

   

FMS

   

JBT

   

Intersegment Eliminations

   

Consolidated

 

Total operating revenues

  $ 1,437.9     $ 846.8     $ 260.2     $ 210.6     $ 177.0     $ (4.3 )   $ 2,928.2  

Operating expenses:

                                                       

Rents, purchased transportation, and fuel

    887.5       104.0       222.6       79.5       131.1                  

Salaries, wages and employee benefits

    220.7       386.8       16.8       70.5       10.6                  

Depreciation and amortization

    61.5       79.0       2.0       11.0       5.7                  

Operating supplies and expenses

    66.0       70.2       1.7       9.5       7.7                  

Insurance and claims

    27.7       44.6       4.0       6.2       7.0                  

General and administrative expenses, net of asset dispositions

    70.9       54.0       16.4       24.1       11.1                  

Other segment items (2)

    7.9       14.5       0.3       1.8       0.4                  

Total operating expenses

    1,342.2       753.1       263.8       202.6       173.6       (4.4 )     2,730.9  

Operating Income (3)

  $ 95.7     $ 93.7     $ (3.6 )   $ 8.0     $ 3.4     $ 0.1     $ 197.3  

 

   

Revenues and Operating Income/(Loss)

 
   

For The Three Months ended June 30, 2024

 
   

JBI

   

DCS

   

ICS

   

FMS

   

JBT

   

Intersegment Eliminations

   

Consolidated

 

Total operating revenues

  $ 1,407.5     $ 851.0     $ 270.4     $ 235.3     $ 168.1     $ (3.6 )   $ 2,928.7  

Operating expenses:

                                                       

Rents, purchased transportation, and fuel

    888.1       115.8       232.4       84.5       120.8                  

Salaries, wages and employee benefits

    202.0       381.3       19.2       78.6       11.2                  

Depreciation and amortization

    61.3       82.2       4.3       11.3       9.0                  

Operating supplies and expenses

    58.8       68.0       1.3       10.7       6.8                  

Insurance and claims

    22.4       43.1       4.6       3.2       5.1                  

General and administrative expenses, net of asset dispositions

    67.9       49.2       21.5       25.0       11.3                  

Other segment items (2)

    7.8       15.0       0.4       2.2       0.4                  

Total operating expenses

    1,308.3       754.6       283.7       215.5       164.6       (3.7 )     2,723.0  

Operating Income (3)

  $ 99.2     $ 96.4     $ (13.3 )   $ 19.8     $ 3.5     $ 0.1     $ 205.7  

 

 

   

Revenues and Operating Income/(Loss)

 
   

For The Six Months ended June 30, 2025

 
   

JBI

   

DCS

   

ICS

   

FMS

   

JBT

   

Intersegment Eliminations

   

Consolidated

 

Total operating revenues

  $ 2,907.1     $ 1,669.0     $ 528.3     $ 411.3     $ 343.6     $ (9.7 )   $ 5,849.6  

Operating expenses:

                                                       

Rents, purchased transportation, and fuel

    1,814.4       213.1       451.6       151.5       252.5                  

Salaries, wages and employee benefits

    439.7       758.2       33.6       141.1       21.0                  

Depreciation and amortization

    122.1       158.8       4.0       22.3       14.4                  

Operating supplies and expenses

    128.2       140.6       3.2       19.6       14.4                  

Insurance and claims

    56.4       88.6       8.6       12.5       12.6                  

General and administrative expenses, net of asset dispositions

    140.1       106.6       32.9       47.7       22.5                  

Other segment items (2)

    16.1       29.1       0.6       3.9       0.8                  

Total operating expenses

    2,717.0       1,495.0       534.5       398.6       338.2       (9.7 )     5,473.6  

Operating Income (3)

  $ 190.1     $ 174.0     $ (6.2 )   $ 12.7     $ 5.4     $ -     $ 376.0  

 

   

Revenues and Operating Income/(Loss)

 
   

For The Six Months ended June 30, 2024

 
   

JBI

   

DCS

   

ICS

   

FMS

   

JBT

   

Intersegment Eliminations

   

Consolidated

 

Total operating revenues

  $ 2,802.8     $ 1,711.0     $ 555.7     $ 464.6     $ 346.4     $ (7.8 )   $ 5,872.7  

Operating expenses:

                                                       

Rents, purchased transportation, and fuel

    1,767.7       237.2       479.1       165.2       250.9                  

Salaries, wages and employee benefits

    403.2       764.0       40.2       158.9       22.4                  

Depreciation and amortization

    121.8       164.3       7.6       23.0       18.1                  

Operating supplies and expenses

    116.3       137.4       2.9       21.6       14.0                  

Insurance and claims

    46.8       83.4       13.0       5.0       11.6                  

General and administrative expenses, net of asset dispositions

    130.1       104.5       43.1       51.4       23.6                  

Other segment items (2)

    15.8       30.1       0.6       4.6       1.0                  

Total operating expenses

    2,601.7       1,520.9       586.5       429.7       341.6       (7.8 )     5,472.6  

Operating Income (3)

  $ 201.1     $ 190.1     $ (30.8 )   $ 34.9     $ 4.8     $ -     $ 400.1  

 

 

(1)

Net capital expenditures report the additions to property and equipment, net of proceeds from the sale of property and equipment.

 

(2)

Other segment items include communication, utilities, and operating taxes and licenses expense items.

 

(3)

Refer to the Condensed Consolidated Statements of Earnings for the reconciliation of consolidated operating income to earnings before income taxes.