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REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables) | 6 Months Ended
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Jun. 30, 2018
Revenue from Contract with Customer [Abstract] |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles | The cumulative effect of the changes made to our consolidated January 1, 2018 balance sheet for the adoption of ASU 2014-09 were as follows:
|  | Balance at December 31, 2017 |  | Adjustments |  | Balance at January 1, 2018
Balance Sheet |  |  |  |  |  |
Assets |  |  |  |  |  |
Receivables, net of allowance for doubtful accounts |  | $ | 2,113,930 |  |  | $ | (101,718 | ) |  | $ | 2,012,212 |
Contract assets |  | — |  |  | 147,764 |  |  | 147,764 |
Prepaid expenses and other |  | 63,116 |  |  | 4,021 |  |  | 67,137 |
Liabilities |  |  |  |  |  |
Accounts payable |  | 1,000,305 |  |  | (56,493 | ) |  | 943,812 |
Accrued expenses - transportation expense |  | — |  |  | 94,811 |  |  | 94,811 |
Accrued expenses - compensation |  | 105,316 |  |  | 1,964 |  |  | 107,280 |
Accrued expenses - other accrued liabilities |  | 58,229 |  |  | (2,752 | ) |  | 55,477 |
Deferred tax liabilities |  | 45,355 |  |  | 3,298 |  |  | 48,653 |
Equity |  |  |  |  |  |
Retained earnings |  | 3,437,093 |  |  | 9,239 |  |  | 3,446,332 |
The impact of adoption of ASU 2014-09 on our consolidated statements of operations and consolidated balance sheets were as follows. The adoption of ASU 2014-09 did not have a material impact upon our consolidated statements of cash flows.
|  | Three Months Ended June 30, 2018
|  | As reported |  | Balances without adoption of ASU 2014-09 |  | Effect of Change Higher / (Lower)
Income Statement |  |  |  |  |  |
Revenues |  |  |  |  |  |
Transportation |  | $ | 3,953,139 |  |  | $ | 3,897,434 |  |  | $ | 55,705 |
Sourcing (1) |  | 322,898 |  |  | 350,968 |  |  | (28,070 | )
Total Revenues |  | $ | 4,276,037 |  |  | $ | 4,248,402 |  |  | $ | 27,635 |
Costs and expenses |  |  |  |  |  |
Purchased transportation and related services |  | $ | 3,313,196 |  |  | $ | 3,264,140 |  |  | $ | 49,056 |
Purchased products sourced for resale (1) |  | 291,358 |  |  | 319,428 |  |  | (28,070 | )
Personnel expenses |  | 340,630 |  |  | 340,153 |  |  | 477 |
Other selling, general, and administrative expenses |  | 111,845 |  |  | 111,845 |  |  | — |
Total Costs and Expenses |  | 4,057,029 |  |  | 4,035,566 |  |  | 21,463 |
Income from operations |  | 219,008 |  |  | 212,836 |  |  | 6,172 |
Interest and other expense |  | (5,128 | ) |  | (5,128 | ) |  | — |
Income before provision for income taxes |  | 213,880 |  |  | 207,708 |  |  | 6,172 |
Provision for income taxes |  | 54,717 |  |  | 53,130 |  |  | 1,587 |
Net income |  | $ | 159,163 |  |  | $ | 154,578 |  |  | $ | 4,585 |
|  | Six Months Ended June 30, 2018
|  | As reported |  | Balances without adoption of ASU 2014-09 |  | Effect of Change Higher / (Lower)
Income Statement |  |  |  |  |  |
Revenues |  |  |  |  |  |
Transportation |  | $ | 7,590,779 |  |  | $ | 7,519,316 |  |  | $ | 71,463 |
Sourcing (1) |  | 610,585 |  |  | 665,799 |  |  | (55,214 | )
Total Revenues |  | $ | 8,201,364 |  |  | $ | 8,185,115 |  |  | $ | 16,249 |
Costs and expenses |  |  |  |  |  |
Purchased transportation and related services |  | $ | 6,354,798 |  |  | $ | 6,292,803 |  |  | $ | 61,995 |
Purchased products sourced for resale (1) |  | 549,158 |  |  | 604,372 |  |  | (55,214 | )
Personnel expenses |  | 668,927 |  |  | 668,377 |  |  | 550 |
Other selling, general, and administrative expenses |  | 217,888 |  |  | 217,888 |  |  | — |
Total Costs and Expenses |  | 7,790,771 |  |  | 7,783,440 |  |  | 7,331 |
Income from operations |  | 410,593 |  |  | 401,675 |  |  | 8,918 |
Interest and other expense |  | (15,828 | ) |  | (15,828 | ) |  | — |
Income before provision for income taxes |  | 394,765 |  |  | 385,847 |  |  | 8,918 |
Provision for income taxes |  | 93,305 |  |  | 91,032 |  |  | 2,273 |
Net income |  | $ | 301,460 |  |  | $ | 294,815 |  |  | $ | 6,645 |
(1) We have identified certain customer contracts in our sourcing managed procurement business that changed from a principal to an agent relationship under the new standard. This change resulted in these contracts being recognized at the net amount we charge our customers but had no impact on income from operations.
|  | As of June 30, 2018
|  | As reported |  | Balances without adoption of ASU 2014-09 |  | Effect of Change Higher / (Lower)
Balance Sheet |  |  |  |  |  |
Assets |  |  |  |  |  |
Receivables, net of allowance for doubtful accounts |  | $ | 2,202,460 |  |  | $ | 2,268,854 |  |  | $ | (66,394 | )
Contract assets |  | 182,247 |  |  | — |  |  | 182,247 |
Prepaid expenses and other |  | 63,374 |  |  | 62,004 |  |  | 1,370 |
Liabilities |  |  |  |  |  |  |
Accounts payable |  | $ | 1,059,669 |  |  | $ | 1,103,551 |  |  | $ | (43,882 | )
Accrued expenses - transportation expense |  | 140,231 |  |  | — |  |  | 140,231 |
Accrued expenses - compensation |  | 99,279 |  |  | 96,766 |  |  | 2,513 |
Accrued expenses - other accrued liabilities |  | 66,987 |  |  | 70,054 |  |  | (3,067 | )
Deferred tax liabilities |  | 42,779 |  |  | 37,235 |  |  | 5,544 |
Equity |  |  |  |  |  |  |
Retained earnings |  | $ | 3,617,324 |  |  | $ | 3,601,440 |  |  | $ | 15,884 |
Summary of Gross Revenue Disaggregated by Major Service Line and Timing of Revenue Recognition | A summary of our gross revenues disaggregated by major service line and timing of revenue recognition is presented below for each of our reportable segments for the three and six months ended June 30, 2018 is as follows:
| Three Months Ended June 30, 2018
| NAST |  | Global Forwarding |  | Robinson Fresh |  | All Other and Corporate |  | Total
Major Service Lines |  |  |  |  |  |  |  |  |
Transportation and logistics services | $ | 2,878,904 |  |  | $ | 617,597 |  |  | $ | 298,126 |  |  | $ | 158,512 |  |  | $ | 3,953,139 |
Sourcing | — |  |  | — |  |  | 322,898 |  |  | — |  |  | 322,898 |
Total | $ | 2,878,904 |  |  | $ | 617,597 |  |  | $ | 621,024 |  |  | $ | 158,512 |  |  | $ | 4,276,037 |
Timing of Revenue Recognition |  |  |  |  |  |  |  |  |
Performance obligations completed over time | $ | 2,878,904 |  |  | $ | 617,597 |  |  | $ | 298,126 |  |  | $ | 158,512 |  |  | $ | 3,953,139 |
Performance obligations completed at a point in time | — |  |  | — |  |  | 322,898 |  |  | — |  |  | 322,898 |
Total | $ | 2,878,904 |  |  | $ | 617,597 |  |  | $ | 621,024 |  |  | $ | 158,512 |  |  | $ | 4,276,037 |
| Six Months Ended June 30, 2018
| NAST |  | Global Forwarding |  | Robinson Fresh |  | All Other and Corporate |  | Total
Major Service Lines |  |  |  |  |  |  |  |  |
Transportation and logistics services | $ | 5,541,915 |  |  | $ | 1,171,351 |  |  | $ | 560,908 |  |  | $ | 316,605 |  |  | $ | 7,590,779 |
Sourcing | — |  |  | — |  |  | 610,585 |  |  | — |  |  | 610,585 |
Total | $ | 5,541,915 |  |  | $ | 1,171,351 |  |  | $ | 1,171,493 |  |  | $ | 316,605 |  |  | $ | 8,201,364 |
Timing of Revenue Recognition |  |  |  |  |  |  |  |  |
Performance obligations completed over time | $ | 5,541,915 |  |  | $ | 1,171,351 |  |  | $ | 560,908 |  |  | $ | 316,605 |  |  | $ | 7,590,779 |
Performance obligations completed at a point in time | — |  |  | — |  |  | 610,585 |  |  | — |  |  | 610,585 |
Total | $ | 5,541,915 |  |  | $ | 1,171,351 |  |  | $ | 1,171,493 |  |  | $ | 316,605 |  |  | $ | 8,201,364 |

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