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Segment Information
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment Information

Note 6. 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. The accounting policies of our reportable segment are the same as those described in Note 1 in our Annual Report on Form 10-K for the year ended December 31, 2024.

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 Condensed 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 Condensed Balance Sheets but “Total assets” are not used to measure segment performance or allocate resources. Long-lived assets, which consist primarily of net property and equipment, are all located in the United States.

The following table presents financial information with respect to our segment for the three months ended March 31, 2025 and 2024:

 

 

Three Months Ended

 

 

 

March 31,

 

(In thousands)

 

2025

 

 

2024

 

Revenue from operations

 

$

1,374,858

 

 

$

1,460,073

 

 

 

 

 

 

 

Less significant expenses:

 

 

 

 

 

 

Salaries and wages

 

 

476,270

 

 

 

492,881

 

Employee benefit costs

 

 

181,815

 

 

 

175,509

 

Operating supplies and expenses

 

 

149,892

 

 

 

172,472

 

General supplies and expenses

 

 

39,880

 

 

 

45,576

 

Operating taxes and licenses

 

 

35,603

 

 

 

35,838

 

Insurance and claims

 

 

17,480

 

 

 

18,194

 

Communications and utilities

 

 

10,803

 

 

 

10,995

 

Depreciation and amortization

 

 

89,132

 

 

 

84,531

 

Purchased transportation

 

 

27,663

 

 

 

30,710

 

Miscellaneous expenses, net

 

 

8,265

 

 

 

6,941

 

Total non-operating income

 

 

(589

)

 

 

(6,456

)

Provision for income taxes

 

 

83,984

 

 

 

100,578

 

Segment net income

 

$

254,660

 

 

$

292,304

 

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.