v3.26.1
INVESTMENT IN SSAT
 3 Months Ended
Mar. 31, 2026
INVESTMENT IN SSAT  
INVESTMENT IN SSAT

4.          INVESTMENT IN SSAT

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The Company’s investment in SSAT is described in Note 4 to the Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025. Condensed income statement information for SSAT for the three months ended March 31, 2026 and 2025 consisted of the following:

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Three Months Ended

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March 31, 

(In millions)

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2026

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2025

Operating revenue

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$

282.7

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$

311.5

Operating costs and expenses

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(285.4)

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(297.5)

Operating (loss) income

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(2.7)

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14.0

SSAT’s Net Income (1)

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$

4.0

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$

17.7

Company’s Share of SSAT’s Net Income (2)

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$

5.0

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$

6.6

(1)Includes earnings and losses from equity method investment held by SSAT less earnings and losses allocated to non-controlling interests.
(2)The Company records its share of net income from SSAT in costs and expenses in the Condensed Consolidated Statement of Income and Comprehensive Income due to the nature of SSAT’s operations.

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The Company’s investment in SSAT was $101.5 million and $96.2 million at March 31, 2026 and December 31, 2025, respectively.