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Business Segments and Customer Information

v3.23.1
Business Segments and Customer Information
 3 Months Ended
Mar. 31, 2023
Segment Reporting [Abstract]  
Business Segments and Customer Information Business Segments and Customer Information
Business Segments

Management of our business operations is conducted under three reportable operating segments:

Aviation
Our Aviation segment provides aftermarket repair and distribution services to commercial, business and general aviation, cargo, military and defense, and rotorcraft customers globally. Core services include parts distribution, engine accessory maintenance, MRO services, rotable exchange and supply chain services.

Fleet
Our Fleet segment provides parts, inventory management, e-commerce fulfillment, logistics, supply chain support and other services to support the commercial aftermarket medium- and heavy-duty truck market, the United States Postal Service ("USPS"), and the DoD. Core services include vehicle parts distribution, sourcing, IT solutions, customized fleet logistics, warehousing, kitting, just-in-time supply chain management, alternative product sourcing, and engineering and technical support.

Federal and Defense
Our Federal and Defense segment provides aftermarket MRO and logistics and sustainment services to improve operational readiness and extend the life cycle of military vehicles, ships and aircraft for the DoD, federal agencies and international defense customers. Core services include base operations support; procurement; supply chain management; vehicle, maritime and aircraft sustainment services; IT services and energy consulting.

We evaluate segment performance based on consolidated revenues and operating income. Net sales of our business segments exclude inter-segment sales as these activities are eliminated in consolidation. Corporate expenses are primarily selling, general and administrative expenses not allocated to segments. Our segment information is as follows (in thousands):

  Three months ended March 31,
  2023 2022
Revenues:
Aviation $ 113,235  $ 93,290 
Fleet 75,352  67,030 
Federal and Defense 66,846  70,919 
Total revenues $ 255,433  $ 231,239 
Operating income (loss):    
Aviation $ 15,663  $ 7,622 
Fleet 5,899  6,381 
Federal and Defense (580) (688)
Corporate/unallocated expenses (3,049) (1,401)
Operating income $ 17,933  $ 11,914