World Fuel Services 2002 Annual Report Download - page 71

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8. Business Segments, Geographic Information, and Major Customers
Business Segments
We market fuel and related services, and have two reportable operating segments: marine and aviation fuel services. In
our marine fuel services business, we market marine fuel and related management services to a broad base of international
shipping companies and to the United States and foreign militaries. Services include credit terms, 24-hour around-the-world
service, fuel management services, and competitively priced fuel. In our aviation fuel services business, we extend credit
and provide around-the-world single-supplier convenience, 24-hour service, fuel management services, and competitively
priced aviation fuel and other aviation related services to passenger, cargo and charter airlines, as well as to United States
and foreign militaries. We also offer flight plans and weather reports to our corporate customers.
Performance measurement and resource allocation for the reportable operating segments are based on many factors.
One of the primary financial measures used is income from operations. We employ shared-service concepts to realize
economies of scale and efficient use of resources. The costs of shared services and other corporate center operations
managed on a common basis are allocated to the segments based on usage, where possible, or on other factors according to
the nature of the activity. The accounting policies of the reportable operating segments are the same as those described in the
Summary of Significant Accounting Policies (see Note 1).
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