REPORTABLE SEGMENTS (Tables)

3 Months Ended

Mar. 31, 2026

REPORTABLE SEGMENTS

Schedule of reportable segment financial information

Reportable segment financial information for the three months ended March 31, 2026 and 2025 are as follows:


		Three Months Ended									Three Months Ended
		March 31, 2026									March 31, 2025
(In millions)		Ocean Transportation			Logistics			Total			Ocean Transportation			Logistics			Total
Operating Revenue (1)(2)		$	606.5		$	151.3		$	757.8		$	637.4		$	144.6		$	782.0

Operating Expenses:
Operating costs:
Direct cargo expense			(234.8)			—			(234.8)			(238.2)			—			(238.2)
Vessel operating expense			(138.7)			—			(138.7)			(147.4)			—			(147.4)
Operating overhead (3)			(81.7)			—			(81.7)			(87.1)			—			(87.1)
Direct operating costs			—			(126.5)			(126.5)			—			(117.8)			(117.8)
Depreciation and amortization			(39.1)			(3.1)			(42.2)			(37.2)			(3.4)			(40.6)
Total operating costs			(494.3)			(129.6)			(623.9)			(509.9)			(121.2)			(631.1)
Income from SSAT			5.0			—			5.0			6.6			—			6.6
General and administrative			(62.6)			(14.9)			(77.5)			(60.5)			(14.9)			(75.4)
Total Costs and Expenses			(551.9)			(144.5)			(696.4)			(563.8)			(136.1)			(699.9)

Operating Income:		$	54.6		$	6.8			61.4		$	73.6		$	8.5			82.1
Interest income									6.1									9.4
Interest expense, net									(1.6)									(1.7)
Other income (expense), net									2.0									2.4
Income before Taxes									67.9									92.2
Income taxes									(11.3)									(19.9)
Net Income								$	56.6								$	72.3

Capital Expenditures (4)		$	47.1		$	1.2		$	48.3		$	88.1		$	1.1		$	89.2

(1)	Ocean Transportation operating revenue excludes inter-segment revenue of $17.8 million and $21.4 million for the three months ended March 31, 2026 and 2025, respectively.

(2)	Logistics operating revenue excludes inter-segment revenue of $29.8 million and $32.6 million for the three months ended March 31, 2026 and 2025, respectively.

(3)	Ocean Transportation operating overhead includes dry-docking amortization of $7.7 million and $6.6 million for the three months ended March 31, 2026 and 2025, respectively.

(4)	Capital expenditures exclude accrued capital expenditures of $3.2 million and $7.6 million as of March 31, 2026 and 2025, respectively.