World Fuel Services 2004 Annual Report Download - page 82

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Information concerning our operations by business segment is as follows (in thousands):
For the
Nine Months
ended
For the Year ended December 31, December 31,
2004 2003 2002 2002
Restated Restated Restated
()
Revenue:
Marine fuel services 3,031,474$ 1,644,598$ 1,287,417$ 1,033,664$
Aviation fuel services 2,622,899 1,026,959 616,948 518,043
5,654,373$ 2,671,557$ 1,904,365$ 1,551,707$
()
Income from operations:
Marine fuel services 23,150$ 18,476$ 13,366$ 10,179$
Aviation fuel services 29,093 21,970 18,962 14,081
52,243 40,446 32,328 24,260
Corporate overhead (15,267) (13,104) (12,301) (10,249)
36,976$ 27,342$ 20,027$ 14,011$
()
Depreciation and amortization:
Marine fuel services 2,036$ 1,487$ 1,195$ 911$
Aviation fuel services 509 234 227 169
Corporate 1,051 2,109 1,443 1,142
3,596$ 3,830$ 2,865$ 2,222$
()
Capital expenditures:
Marine fuel services 574$ 490$ 1,194$ 540$
Aviation fuel services 637 919 214 180
Corporate 1,187 1,858 1,805 2,035
2,398$ 3,267$ 3,213$ 2,755$
As of December 31,
2004 2003
Restated
Accounts and notes receivable, net:
Marine fuel services, net of allowance for bad debts of $5,741 and $5,704 at
December 31, 2004 and 2003, respectively 330,966$ 162,105$
Aviation fuel services, net of allowance for bad debts of $5,536 and $4,834 at
December 31, 2004 and 2003, respectively 159,814 81,507
490,780$ 243,612$
Goodwill and identifiable intangible asset
Marine fuel services, net of accumulated amortization of $4,345 and $3,167 at
December 31, 2004 and 2003, respectively 41,624$ 29,755$
Aviation fuel services, net of accumulated amortization of $1,134 at
December 31, 2004 and 2003 8,209 8,209
49,833$ 37,964$
Total assets:
Marine fuel services 428,651$ 228,904$
Aviation fuel services 262,223 143,192
Corporate 21,297 28,754
712,171$ 400,850$
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