Exhibit 99.2
Fleet Management Solutions
Years ended December 31 | ||||||||||||
2002 | 2001 | 2000 | ||||||||||
(Dollars in thousands) | ||||||||||||
Dry revenue(a) | $ | 2,600,379 | 2,694,215 | 2,782,670 | ||||||||
Fuel services revenue | 582,643 | 658,325 | 773,320 | |||||||||
Total revenue | $ | 3,183,022 | 3,352,540 | 3,555,990 | ||||||||
Segment NBT | $ | 214,384 | 194,398 | 225,088 | ||||||||
Segment NBT as a % of dry revenue(a) | 8.2 | % | 7.2 | % | 8.1 | % | ||||||
(a) | Dry revenue represents revenue excluding fuel services revenue. The Company uses dry revenue, a non-GAAP financial measure, to evaluate the operating performance of the FMS business segment and as a measure of sales activity. Fuel services revenue, which is directly impacted by fluctuations in market fuel prices, is excluded from the dry revenue computation as fuel is largely a pass through to customers for which the Company realizes minimal changes in profitability as a result of fluctuations in fuel services revenue. |
Supply Chain Solutions
Years ended December 31 | ||||||||||||
2002 | 2001 | 2000 | ||||||||||
(Dollars in thousands) | ||||||||||||
Total operating revenue(a) | $ | 977,771 | 1,022,350 | 1,095,148 | ||||||||
Freight under management (FUM) expense | 410,528 | 431,531 | 500,104 | |||||||||
Total revenue | $ | 1,388,299 | 1,453,881 | 1,595,252 | ||||||||
Segment NBT | $ | (6,221 | ) | (6,760 | ) | 10,035 | ||||||
Segment NBT as a % of operating revenue(a) | (0.6 | )% | (0.7 | )% | 0.9 | % | ||||||
(a) | Operating revenue represents revenue excluding FUM expense, which are subcontracted freight costs on logistics contracts for which the Company purchases transportation. The Company uses operating revenue, a non-GAAP financial measure, to evaluate the operating performance of the SCS business segment and as a measure of sales activity. FUM expense is deducted from total revenue to arrive at operating revenue as FUM expense is largely a pass through to customers. The Company realizes minimal changes in profitability as a result of fluctuations in FUM expense. |
Dedicated Contract Carriage
Years ended December 31 | ||||||||||||
2002 | 2001 | 2000 | ||||||||||
(Dollars in thousands) | ||||||||||||
Total operating revenue(a) | $ | 514,120 | 530,080 | 545,101 | ||||||||
Freight under management (FUM) expense | 3,841 | 4,882 | 6,605 | |||||||||
Total revenue | $ | 517,961 | 534,962 | 551,706 | ||||||||
Segment NBT | $ | 31,157 | 34,755 | 37,282 | ||||||||
Segment NBT as a % of operating revenue(a) | 6.1 | % | 6.6 | % | 6.8 | % | ||||||
(a) | Operating revenue represents revenue excluding FUM expense, which are subcontracted freight costs on logistics contracts for which the Company purchases transportation. The Company uses operating revenue, a non-GAAP financial measure, to evaluate the operating performance of the DCC business segment and as a measure of sales activity. FUM expense is deducted from total revenue to arrive at operating revenue as FUM expense is largely a pass through to customers. The Company realizes minimal changes in profitability as a result of fluctuations in FUM expense. |