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Segment Information | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Segment Information | Note 11. Segment Information We have one operating and reportable segment that provides regional, inter-regional and national LTL services through a single integrated, union-free organization. We derive revenue primarily in North America and manage our business activities on a Company-wide basis. For the last three fiscal years, more than 95% of our revenue was derived from services performed in the United States and less than 5% of our revenue was generated from services performed internationally. Additionally, no single customer exceeds 6% of our revenue. The accounting policies of our reportable segment are the same as those described in Note 1. Our chief operating decision maker (“CODM”), who is our President and Chief Executive Officer, reviews Company-wide financial information. The CODM uses “Net income” on our Statements of Operations to make capital allocation and spending decisions, which is initially performed as part of our annual strategic planning process. As part of our strategic planning process, we develop an annual budget for capital expenditures to support our forecasted tonnage and shipment growth. This annual capital expenditure plan, and any other spending decisions that the CODM believes will help prepare our Company for future growth, are generally considered our first priorities for allocating capital. Once those decisions are made, other capital considerations may include share repurchases, dividends, and acquisitions. The CODM monitors actual results against forecast throughout the year and evaluates necessary changes in operating activities or capital allocation. Segment assets are reported as “Total assets” on our Balance Sheets but “Total assets” are not used to measure segment performance or allocate resources. The following table presents financial information with respect to our segment for the years ended December 31, 2024, 2023 and 2022:
|  | Year Ended December 31, |
(In thousands) |  | 2024 |  |  | 2023 |  |  | 2022 |
Revenue from operations |  | $ | 5,814,810 |  |  | $ | 5,866,152 |  |  | $ | 6,260,077 |
Less significant expenses: |  |  |  |  |  |  |  |  |
Salaries and wages |  |  | 1,958,390 |  |  |  | 1,912,231 |  |  |  | 1,995,332 |
Employee benefit costs |  |  | 730,924 |  |  |  | 717,445 |  |  |  | 721,503 |
Operating supplies and expenses |  |  | 635,320 |  |  |  | 718,326 |  |  |  | 852,955 |
General supplies and expenses |  |  | 176,546 |  |  |  | 162,416 |  |  |  | 159,998 |
Operating taxes and licenses |  |  | 144,690 |  |  |  | 145,642 |  |  |  | 141,239 |
Insurance and claims |  |  | 92,359 |  |  |  | 75,368 |  |  |  | 58,301 |
Communications and utilities |  |  | 40,827 |  |  |  | 43,269 |  |  |  | 40,584 |
Depreciation and amortization |  |  | 344,568 |  |  |  | 324,435 |  |  |  | 276,050 |
Purchased transportation |  |  | 122,815 |  |  |  | 121,516 |  |  |  | 158,111 |
Miscellaneous expenses, net |  |  | 24,373 |  |  |  | 4,831 |  |  |  | 15,372 |
Total non-operating income |  |  | (13,599 | ) |  |  | (7,103 | ) |  |  | (717 | )
Provision for income taxes |  |  | 371,524 |  |  |  | 408,274 |  |  |  | 464,190 |
Segment net income |  | $ | 1,186,073 |  |  | $ | 1,239,502 |  |  | $ | 1,377,159 |
See the Company’s financial statements for other financial information regarding our segment as there are no reconciling items or adjustments between segment and total Company. Long-lived assets, which consist primarily of property and equipment, net, are all located in the United States.

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