Segments

6 Months Ended

Jun. 30, 2025

16 Segments

Until the acquisition of the drybulk vessels in 2023, the Company reported financial information and evaluated its operations by total charter revenues. Since 2023, for management purposes, the Company is organized based on operating revenues generated from container vessels and drybulk vessels and has two reporting segments: (1) a container vessels segment and (2) a drybulk vessels segment. The container vessels segment owns and operates container vessels which are primarily chartered on multi-year, fixed-rate time charter and bareboat charter agreements. The drybulk vessels segment owns and operates drybulk vessels to provide drybulk commodities transportation services.

The Company’s chief operating decision maker, chief executive officer monitors and assesses the performance of the container vessels segment and the drybulk vessels segment based on net income. Items included in the applicable segment’s net income are directly allocated to the extent that the items are directly or indirectly attributable to the segments. With regards to the items that are allocated by indirect calculations, their allocation is commensurate to the utilization of key resources. Investments in marketable securities and investments in affiliates accounted for using the equity method accounting are not allocated to any of the Company’s reportable segments.

The following table summarizes our selected financial information for the six months ended and as of June 30, 2025, by segment (in thousands):


	Container		Dry bulk
Income Statement Metrics for the six months	vessels		vessels
ended June 30, 2025 (thousands US$)	segment		segment		Total
Operating revenues	$	475,636	$	39,825	$	515,461
Voyage expenses		(17,734)		(17,211)		(34,945)
Vessel operating expenses		(92,571)		(15,516)		(108,087)
Depreciation		(74,154)		(6,572)		(80,726)
Amortization of deferred drydocking and special survey costs		(18,252)		(4,233)		(22,485)
Interest income		7,208		—		7,208
Interest expense		(19,714)		—		(19,714)
Other segment items ⁽¹⁾		(25,481)		(2,569)		(28,050)
Net Income per segment	$	234,938	$	(6,276)	$	228,662
Gain on investments, dividend income and equity loss on investments, net of interest income						17,389
Net Income					$	246,051

1.	Other segment items for each reportable segment include general and administrative expenses, other finance expenses, other income/(expenses) and loss on derivatives


	Container		Dry bulk
Balance Sheet Metrics as of June 30, 2025	vessels		vessels
(thousands US$)	segment		segment		Total
Total Assets per segment	$	4,147,326	$	265,676	$	4,413,002
Marketable Securities						107,919
Receivable from affiliates						239
Total Assets					$	4,521,160

16 Segments (Continued)

The following table summarizes our selected financial information for the six months ended and as of June 30, 2024, by segment (in thousands):


	Container		Dry bulk
Income Statement Metrics for the six months	vessels		vessels
ended June 30, 2024 (thousands US$)	segment		segment		Total
Operating revenues	$	463,997	$	35,758	$	499,755
Voyage expenses		(16,741)		(16,279)		(33,020)
Vessel operating expenses		(79,430)		(10,774)		(90,204)
Depreciation		(65,255)		(3,988)		(69,243)
Amortization of deferred drydocking and special survey costs		(12,135)		(289)		(12,424)
Interest income		5,859		—		5,859
Interest expense		(8,230)		—		(8,230)
Net gain on disposal of vessel		7,094		—		7,094
Other segment items ⁽¹⁾		(23,117)		(1,801)		(24,918)
Net Income per segment	$	272,042	$	2,627	$	274,669
Gain on investments, dividend income and equity loss on investments						16,981
Net Income					$	291,650

1.	Other segment items for each reportable segment include general and administrative expenses, other finance expenses, other income/(expenses) and loss on derivatives


	Container			Dry bulk
	vessels			vessels
Balance Sheet Metrics as of June 30, 2024 (thousands US$)	segment			segment		Total
Total Assets per segment	$	3,710,004	$	237,057	$	3,947,061
Marketable Securities						99,232
Investment in affiliates						64
Total Assets					$	4,046,357

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

Danaos Corp 6-K