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79
11. Business Segments, Geographic Information, and Major Customers
Business Segments
Based on the nature of operations and quantitative thresholds pursuant to the accounting guidance on segment reporting,
we have three reportable operating business segments: aviation, marine and land. Corporate expenses are allocated to the
segments based on usage, where possible, or on other factors according to the nature of the activity. Please refer to Note 1
for the dates that the results of operations and related assets and liabilities of our acquisitions have been included in our
operating segments. The accounting policies of the reportable operating segments are the same as those described in the
Summary of Significant Accounting Policies (see Note 1).
Information concerning our revenue, gross profit, income from operations, depreciation and amortization and capital
expenditures by segment is as follows (in thousands):
For the Year ended December 31,
2014 2013 2012
Revenue:
Aviation segment $ 17,268,834 $ 16,087,611 $ 14,692,042
Marine segment 13,843,307 14,790,342 14,750,425
Land segment 12,274,248 10,683,994 9,502,871
$ 43,386,389 $ 41,561,947 $ 38,945,338
Gross profit:
Aviation segment $ 321,596 $ 327,178 $ 294,601
Marine segment 205,612 177,052 208,028
Land segment 286,414 248,528 170,818
$ 813,622 $ 752,758 $ 673,447
Income from operations:
Aviation segment $ 142,303 $ 150,886 $ 128,153
Marine segment 90,029 73,770 103,229
Land segment 90,335 84,767 75,291
322,667 309,423 306,673
Corporate overhead – unallocated 53,519 45,065 49,650
$ 269,148 $ 264,358 $ 257,023
Depreciation and amortization:
Aviation segment, includes allocation from corporate $ 15,419 $ 15,854 $ 17,381
Marine segment, includes allocation from corporate 5,559 5,362 5,387
Land segment, includes allocation from corporate 34,684 20,861 10,406
Corporate 3,737 2,633 3,540
$ 59,399 $ 44,710 $ 36,714
Capital expenditures:
Aviation segment $ 9,017 $ 5,737 $ 4,713
Marine segment 13,854 17,326 8,981
Land segment 15,962 54,360 7,243
Corporate 12,948 5,293 7,517
$ 51,781 $ 82,716 $ 28,454