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Pay vs Performance Disclosure - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Pay vs Performance Disclosure [Table]      
Pay vs Performance [Table Text Block]

Pay Versus Performance

As required by Section 953(a) of the Dodd-Frank Act, and Item 402(v) of Regulation S-K, we are providing the following information about the relationship between executive compensation actually paid and certain financial performance measures of the Company. You should refer to “Compensation Discussion and Analysis” for a complete description of how executive compensation relates to Company performance and how the Compensation Committee makes its decisions.

 

 

 

 

 

Value of Initial Fixed $100 Investment Based On:

 

 

 

 

 

 

 

 

 

 

Year

 

 

 

 

 

Summary Compensation Table Total for PEO ($)(1)

 

 

 

 

 

 

Compensation Actually Paid to PEO ($)(2)

 

Average Summary Compensation Table Total for Non-PEO Named Executive Officers ($)(3)

 

 

Average Compensation Actually Paid to Non-PEO Named Executive Officers ($)(4)

 

 

 

 

 

 

Total Shareholder Return ($)(5)

 

 

 

 

 

Peer Group Total Shareholder Return ($)(6)

 

 

 

 

 

 

 

 

Net Income (in thousands) ($)

 

 

 

 

 

 

 

Pre-Tax

Income (in thousands) ($)(7)

2022

12,828,375

10,494,358

6,184,287

4,864,545

227

128

1,377,159

1,841,349

2021

10,577,833

16,385,495

5,983,437

9,749,517

285

155

1,034,375

1,388,423

2020

7,987,957

9,878,641

5,260,421

6,660,167

155

131

672,682

901,364

   
Company Selected Measure Name Pre-Tax Income    
Named Executive Officers, Footnote [Text Block]
(3)
The dollar amounts reported in this column represent the average of the amounts reported for the Company’s named executive officers as a group (excluding Mr. Gantt) in the “Total” column of the Summary Compensation Table in each applicable year. The names of each of the named executive officers (excluding Mr. Gantt) included for purposes of calculating the average amounts in each applicable year are as follows: (i) for 2022 and 2021, Mr. David S. Congdon and Messrs. Satterfield, Freeman and Plemmons; (ii) for 2020, Mr. Earl E. Congdon, Mr. David S. Congdon and Messrs. Satterfield and Freeman.
   
Peer Group Issuers, Footnote [Text Block]
(6)
Represents the weighted peer group TSR, weighted according to the respective companies’ stock market capitalization at the beginning of each period for which a return is indicated. The peer group used for this purpose was the Dow Jones Transportation Average for 2022 and 2021, and the Nasdaq Industrial Transportation Index for 2020. Beginning in 2021, the Dow Jones Transportation Average was selected as a peer group as we believe the companies included in the Dow Jones Transportation Average are better aligned with our business.
   
PEO Total Compensation Amount $ 12,828,375 $ 10,577,833 $ 7,987,957
PEO Actually Paid Compensation Amount $ 10,494,358 16,385,495 9,878,641
Adjustment To PEO Compensation, Footnote [Text Block]
(2)
The dollar amounts reported in this column represent the amount of “compensation actually paid” to Mr. Gantt, as computed in accordance with Item 402(v). The dollar amounts do not reflect the actual amount of compensation earned by or paid to Mr. Gantt during the applicable year. In accordance with the requirements of Item 402(v), the following adjustments were made to Mr. Gantt’s total compensation for each year to determine the compensation actually paid:

Year

Reported

Summary Compensation Table Total for PEO ($)

Reported

Value of Equity Awards ($)(a)

Equity

Award Adjustments ($)(b)

Compensation Actually Paid to PEO ($)

2022

12,828,375

(2,578,625)

244,608

10,494,358

2021

10,577,833

(1,975,247)

7,782,909

16,385,495

2020

7,987,957

(1,608,515)

3,499,199

9,878,641

   
Non-PEO NEO Average Total Compensation Amount $ 6,184,287 5,983,437 5,260,421
Non-PEO NEO Average Compensation Actually Paid Amount $ 4,864,545 9,749,517 6,660,167
Adjustment to Non-PEO NEO Compensation Footnote [Text Block]

Year

Average

Reported Summary Compensation Table Total for Non-PEO NEOs ($)

Average

Reported

Value of Equity Awards ($)

Average Equity

Award Adjustments ($)(a)

Average Compensation Actually Paid to Non-PEO NEOs ($)

2022

6,184,287

(1,012,865)

(306,877)

4,864,545

2021

5,983,437

(1,237,056)

5,003,136

9,749,517

2020

5,260,421

(1,181,548)

2,581,294

6,660,167

   
Equity Valuation Assumption Difference, Footnote [Text Block] The amounts deducted or added in calculating the equity award adjustments are as follows:

 

Year

Year End Fair Value of Equity Awards ($)

Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards ($)

Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year ($)

Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year ($)

Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year ($)

Value of Dividends or other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value or Total Compensation ($)

Total

Equity

Award Adjustments ($)

2022

2,344,590

   (1,459,624)

(648,995)

8,637

244,608

2021

4,121,370

3,520,877

134,605

6,057

7,782,909

2020

2,129,804

1,234,369

130,549

4,476

3,499,199

   
Compensation Actually Paid vs. Total Shareholder Return [Text Block]

img196368603_16.jpg 

 

 

Compensation Actually Paid vs. Net Income Compensation Actually Paid $18,000,000 $16,000,000 $14,000,000 $12,000,000 $10,000,000 $8,000,000 $6,000,000 $4,000,000 $2,000,000 $0 $400.0 $600.0 $800.0 $1,000.0 $1,200.0 $1,400.0 $1,600.0 $672.7 $1,034.4 $1,377.2 2020 2021 2022 PEO Average for Non-PEO NEOs Net Income Net income (in millions)

   
Compensation Actually Paid vs. Net Income [Text Block] $1,000.0 $1,200.0 $1,400.0 $1,600.0 $672.7 $1,034.4 $1,377.2 2020 2021 2022 PEO Average for Non-PEO NEOs Net Income Net income (in millions)

img196368603_17.jpg 

 

 

   
Compensation Actually Paid vs. Company Selected Measure [Text Block]

Compensation Actually Paid vs. Pre-Tax Income Compensation Actually Paid $18,000,000 $16,000,000 $14,000,000 $12,000,000 $10,000,000 $8,000,000 $6,000,000 $4,000,000 $2,000,000 $0 $800.0 $1,000.0 $1,200.0 $1,400.0 $1,600.0 $1,800.0 $2,000.0 $901.4 $1,388.4 $1,841.3 2020 2021 2022 PEO Average for Non-PEO NEOs Pre-Tax Income Pre-Tax Income (in millions)

img196368603_18.jpg
 

   
Tabular List [Table Text Block]

Financial Performance Measures

 

As described in greater detail in “Compensation Discussion and Analysis,” our executive compensation program reflects a pay-for-performance philosophy. The metrics that the Company uses for both our long-term and short-term incentive awards are selected based on an objective of incentivizing our named executive officers to increase the value of our enterprise for our shareholders. The most important financial performance measures used by the Company to link executive compensation actually paid to the Company’s named executive officers, for the most recently completed fiscal year, to the Company’s performance are as follows:

 

Most Important Financial Performance Measures

Pre-Tax Income

Annual Pre-Tax Income Growth

Operating Ratio

 

 

   
Total Shareholder Return Amount $ 227 285 155
Peer Group Total Shareholder Return Amount 128 155 131
Net Income (Loss) $ 1,377,159,000 $ 1,034,375,000 $ 672,682,000
Company Selected Measure Amount 1,841,349,000 1,388,423,000 901,364,000
PEO Name Mr. Gantt Mr. Gantt Mr. Gantt
Additional 402(v) Disclosure [Text Block]
(4)
The dollar amounts reported in this column represent the average amount of “compensation actually paid” to the named executive officers as a group (excluding Mr. Gantt), as computed in accordance with Item 402(v). The dollar amounts do not reflect the actual average amount of compensation earned by or paid to the named executive officers as a group (excluding Mr. Gantt) during the applicable year. In accordance with the requirements of Item 402(v), the following adjustments were made to average total compensation for the named executive officers as a group (excluding Mr. Gantt) for each year to determine the compensation actually paid, using the same methodology described in footnote 2 above:
   
Measure [Axis]: 1      
Pay vs Performance Disclosure [Table]      
Measure Name Pre-Tax Income    
Measure [Axis]: 2      
Pay vs Performance Disclosure [Table]      
Measure Name Annual Pre-Tax Income Growth    
Measure [Axis]: 3      
Pay vs Performance Disclosure [Table]      
Measure Name Operating Ratio    
PEO [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment Value of Equity Awards $ (2,578,625) $ (1,975,247) $ (1,608,515)
Adjustment Equity Awards 244,608 7,782,909 3,499,199
PEO [Member] | Year End Fair Value of Equity Awards [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment Equity Awards 2,344,590 4,121,370 2,129,804
PEO [Member] | Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment Equity Awards (1,459,624) 3,520,877 1,234,369
PEO [Member] | Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment Equity Awards 0 0 0
PEO [Member] | Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment Equity Awards (648,995) 134,605 130,549
PEO [Member] | Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment Equity Awards 0 0 0
PEO [Member] | Value of Dividends or other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value or Total Compensation [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment Equity Awards 8,637 6,057 4,476
Non-PEO NEO [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment Value of Equity Awards (1,012,865) (1,237,056) (1,181,548)
Adjustment Equity Awards (306,877) 5,003,136 2,581,294
Non-PEO NEO [Member] | Year End Fair Value of Equity Awards [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment Equity Awards 920,299 2,559,819 1,564,465
Non-PEO NEO [Member] | Year over Year Change in Fair Value of Outstanding and Unvested Equity Awards [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment Equity Awards (788,746) 2,344,205 913,007
Non-PEO NEO [Member] | Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment Equity Awards 0 0 0
Non-PEO NEO [Member] | Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment Equity Awards (444,787) 94,849 100,333
Non-PEO NEO [Member] | Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment Equity Awards 0 0 0
Non-PEO NEO [Member] | Value of Dividends or other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value or Total Compensation [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment Equity Awards $ 6,357 $ 4,264 $ 3,490