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Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2023
Accounting Policies [Abstract] |
Disaggregated Revenue | The composition of our revenue is summarized below:
|  | Year Ended December 31, |
(In thousands) |  | 2023 |  |  | 2022 |  |  | 2021 |
LTL services |  | $ | 5,804,939 |  |  | $ | 6,177,055 |  |  | $ | 5,177,497 |
Other services |  |  | 61,213 |  |  |  | 83,022 |  |  |  | 78,831 |
Total revenue |  | $ | 5,866,152 |  |  | $ | 6,260,077 |  |  | $ | 5,256,328 |
Estimated Useful Lives of Property and Equipment | The following table provides the estimated useful lives by asset type:
Structures |  | 7 to 30 years
Revenue equipment |  | 4 to 15 years
Other equipment |  | 2 to 20 years
Leasehold improvements |  | Lesser of economic life or life of lease
Summary of Accelerated Repurchase Activity | The table below summarizes our accelerated share repurchase activity for 2022 and 2021. There was no accelerated share repurchase activity for the year ended December 31, 2023.
|  |  |  |  |  | Agreement |  |  |  |  |  |  |  |  |  |
Agreement |  | Settlement |  | Amount |  |  | Initial Shares |  |  | Shares Received |  |  | Total Shares |
Date |  | Date |  | (In millions) |  |  | Received |  |  | at Settlement |  |  | Received |
February 2021 |  |  | August 2021 |  |  | $ | 275.0 |  |  |  | 960,330 |  |  |  | 140,716 |  |  |  | 1,101,046 |
August 2021 |  |  | January 2022 |  |  | $ | 250.0 |  |  |  | 655,365 |  |  |  | 123,410 |  |  |  | 778,775 |
February 2022 |  |  | April 2022 |  |  | $ | 400.0 |  |  |  | 1,018,157 |  |  |  | 372,809 |  |  |  | 1,390,966 |

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- Definition Tabular disclosure of accelerated share repurchase (ASR) programs. An ASR is a combination of transactions that permits an entity to purchase a targeted number of shares immediately with the final purchase price of those shares determined by an average market price over a fixed period of time. An accelerated share repurchase program is intended to combine the immediate share retirement benefits of a tender offer with the market impact and pricing benefits of a disciplined daily open market stock repurchase program. ASRs can be disclosed as part of stockholders' equity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 30 -Name Accounting Standards Codification -Section 25 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481138/505-30-25-5 + Details
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- Definition Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 360 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482099/360-10-50-1 + Details
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