v3.26.3
Segment Information (Tables)
 9 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information
The following table presents segment revenues, significant segment expenses and segment contribution with a reconciliation to Income (loss) before income taxes for the three and nine months ended September 30, 2026 and 2025:
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
(In thousands)
Segment revenues:
Warehouse(1)
$616,283 $615,822 $1,797,769 $1,803,460 
Transportation62,217 47,843 173,491 139,933 
Total Segment revenues678,500 663,665 1,971,260 1,943,393 
Significant Segment Expenses:
Warehouse(1):
Power44,355 42,440 116,292 109,695 
Other facilities costs(2)
62,374 62,487 183,976 184,014 
Labor255,456 259,646 763,078 760,945 
Other services costs(2)
49,882 53,957 141,766 150,006 
Total warehouse cost of operations
412,067 418,530 1,205,112 1,204,660 
Transportation services cost of operations52,750 40,107 144,269 116,201 
Total segment expenses $464,817 $458,637 $1,349,381 $1,320,861 
Segment contribution:
Warehouse(1)
204,216 197,292 592,657 598,800 
Transportation9,467 7,736 29,222 23,732 
Total segment contribution213,683 205,028 621,879 622,532 
Joint venture related management fee and reimbursed costs13,058 — 13,058 — 
Joint venture related reimbursed costs(11,597)— (11,597)— 
Depreciation and amortization expense(105,666)(88,023)(300,257)(267,467)
Selling, general, and administrative expense(63,487)(70,982)(197,670)(207,124)
Transactions, strategic initiatives and other costs, net(32,208)(29,052)(81,123)(77,692)
Impairment of long-lived assets(4,623)(77)(314,195)(5,303)
Net gain (loss) from sale of real estate12,126 (143)17,647 11,617 
Gain on contribution of real estate assets721,381 — 721,381 — 
Interest expense(41,971)(33,931)(125,790)(108,293)
Loss from investments in partially owned entities(2,398)(41)(3,330)(1,739)
Other, net(1,240)(477)13,071 6,594 
Income (loss) before income taxes$697,058 $(17,698)$353,074 $(26,875)
(1)Prior period Warehouse segment financial results have been recast to include the Company’s former Third-Party Managed reportable segment.
(2)Certain immaterial prior period amounts have been reclassified to conform to the current period presentation.