| SEGMENT INFORMATION |
NOTE 11: SEGMENT INFORMATION
The Company currently has two reportable segments from which it derives its revenues: Dry bulk Vessel Operations and Logistics Business. The reportable segments reflect the internal organization of the Company and are strategic businesses that offer different products and services. The Dry bulk Vessel Operations Business consists of the transportation and handling of bulk cargoes through the ownership, operation, and trading of vessels, freight, and Forward Freight Agreements. The Logistics Business consists of operating ports and transfer station terminals, handling of vessels, barges and push boats as well as upriver transport facilities in the Hidrovia region.
The Company measures segment performance based on net (loss)/income attributable to Navios Holdings common stockholders. Inter-segment sales and transfers are not significant and have been eliminated and are not included in the following tables. Summarized financial information concerning each of the Company's reportable segments is as follows:
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Drybulk Vessel Operations |
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Logistics Business |
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Total |
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Three Month |
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Three Month |
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Three Month |
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Three Month |
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Three Month |
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|
Three Month |
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|
Period Ended |
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Period Ended |
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Period Ended |
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Period Ended |
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Period Ended |
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Period Ended |
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June 30, |
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June 30, |
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|
June 30, |
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|
June 30, |
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June 30, |
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|
June 30, |
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|
2017 |
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|
2016 |
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|
2017 |
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|
2016 |
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|
2017 |
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|
2016 |
|
Revenue |
|
$ |
59,237 |
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|
$ |
46,991 |
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|
$ |
59,381 |
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|
$ |
58,742 |
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|
$ |
118,618 |
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$ |
105,733 |
|
Administrative fee revenue from affiliates |
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|
5,360 |
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|
5,463 |
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|
|
— |
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|
|
— |
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|
5,360 |
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|
5,463 |
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Interest expense and finance cost, net |
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|
(21,270 |
) |
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(20,869 |
) |
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(6,295 |
) |
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|
(5,829 |
) |
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(27,565 |
) |
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(26,698 |
) |
Depreciation and amortization |
|
|
(19,713 |
) |
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|
(20,745 |
) |
|
|
(6,378 |
) |
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|
(6,387 |
) |
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|
(26,091 |
) |
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|
(27,132 |
) |
Equity in net (losses)/earnings of affiliated companies |
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|
(3,775 |
) |
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|
3,424 |
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|
— |
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— |
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|
|
(3,775 |
) |
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|
3,424 |
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Net (loss)/income attributable to Navios Holdings common stockholders |
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(40,085 |
) |
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|
(31,112 |
) |
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|
2,827 |
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|
4,696 |
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|
|
(37,258 |
) |
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|
(26,416 |
) |
Total assets |
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2,036,569 |
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|
2,363,866 |
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|
659,871 |
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|
|
637,829 |
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|
2,696,440 |
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|
|
3,001,695 |
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Goodwill |
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|
56,240 |
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|
56,240 |
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|
104,096 |
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|
104,096 |
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|
160,336 |
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|
160,336 |
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Capital expenditures |
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(63 |
) |
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|
(80 |
) |
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(13,015 |
) |
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(27,577 |
) |
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(13,078 |
) |
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(27,657 |
) |
Investments in affiliates |
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|
189,195 |
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|
388,772 |
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— |
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— |
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|
189,195 |
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|
388,772 |
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Cash and cash equivalents |
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|
67,309 |
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|
68,223 |
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|
62,899 |
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|
|
72,306 |
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|
|
130,208 |
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|
|
140,529 |
|
Restricted cash |
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|
4,462 |
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|
|
2,671 |
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|
|
— |
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|
|
— |
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|
4,462 |
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|
|
2,671 |
|
Long-term debt (including current and non-current portion) |
|
$ |
1,205,392 |
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$ |
1,236,709 |
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$ |
440,878 |
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$ |
392,187 |
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$ |
1,646,270 |
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$ |
1,628,896 |
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Drybulk Vessel Operations |
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Logistics Business |
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Total |
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|
Six Month |
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Six Month |
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|
Six Month |
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Six Month |
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Six Month |
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Six Month |
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|
Period Ended |
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Period Ended |
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Period Ended |
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Period Ended |
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Period Ended |
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Period Ended |
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|
|
June 30, |
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|
June 30, |
|
|
June 30, |
|
|
June 30, |
|
|
June 30, |
|
|
June 30, |
|
|
|
2017 |
|
|
2016 |
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|
2017 |
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|
2016 |
|
|
2017 |
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|
2016 |
|
Revenue |
|
$ |
110,782 |
|
|
$ |
93,259 |
|
|
$ |
103,182 |
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|
$ |
113,961 |
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|
$ |
213,964 |
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|
$ |
207,220 |
|
Administrative fee revenue from affiliates |
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|
10,658 |
|
|
|
10,945 |
|
|
|
— |
|
|
|
— |
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|
|
10,658 |
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|
|
10,945 |
|
Interest expense and finance cost, net |
|
|
(42,911 |
) |
|
|
(42,415 |
) |
|
|
(12,076 |
) |
|
|
(12,033 |
) |
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|
(54,987 |
) |
|
|
(54,448 |
) |
Depreciation and amortization |
|
|
(39,246 |
) |
|
|
(33,898 |
) |
|
|
(12,468 |
) |
|
|
(13,061 |
) |
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|
(51,714 |
) |
|
|
(46,959 |
) |
Equity in net earnings of affiliated companies |
|
|
1,307 |
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|
|
16,376 |
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|
|
— |
|
|
|
— |
|
|
|
1,307 |
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|
|
16,376 |
|
Net (loss)/income attributable to Navios Holdings common stockholders |
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|
(86,885 |
) |
|
|
(42,199 |
) |
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|
908 |
|
|
|
8,318 |
|
|
|
(85,977 |
) |
|
|
(33,881 |
) |
Total assets |
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|
2,036,569 |
|
|
|
2,363,866 |
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|
|
659,871 |
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|
|
637,829 |
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2,696,440 |
|
|
|
3,001,695 |
|
Goodwill |
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|
56,240 |
|
|
|
56,240 |
|
|
|
104,096 |
|
|
|
104,096 |
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|
|
160,336 |
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|
160,336 |
|
Capital expenditures |
|
|
(99 |
) |
|
|
(60,213 |
) |
|
|
(29,071 |
) |
|
|
(47,831 |
) |
|
|
(29,170 |
) |
|
|
(108,044 |
) |
Investments in affiliates |
|
|
189,195 |
|
|
|
388,772 |
|
|
|
— |
|
|
|
— |
|
|
|
189,195 |
|
|
|
388,772 |
|
Cash and cash equivalents |
|
|
67,309 |
|
|
|
68,223 |
|
|
|
62,899 |
|
|
|
72,306 |
|
|
|
130,208 |
|
|
|
140,529 |
|
Restricted cash |
|
|
4,462 |
|
|
|
2,671 |
|
|
|
— |
|
|
|
— |
|
|
|
4,462 |
|
|
|
2,671 |
|
Long-term debt (including current and non-current portion) |
|
$ |
1,205,392 |
|
|
$ |
1,236,709 |
|
|
$ |
440,878 |
|
|
$ |
392,187 |
|
|
$ |
1,646,270 |
|
|
$ |
1,628,896 |
|
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