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SUPPLEMENTARY DATA (UNAUDITED) | 12 Months Ended
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Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract] |
SUPPLEMENTARY DATA (UNAUDITED) | SUPPLEMENTARY DATA (UNAUDITED) Our unaudited results of operations for each of the quarters in the years ended December 31, 2018 and 2017, are summarized below (in thousands, except per share data).
2018 |  | March 31 (1) |  | June 30 (1) |  | September 30 (1) |  | December 31 (1)
Revenues: |  |  |  |  |  |  |  |
Transportation |  | $ | 3,637,640 |  |  | $ | 3,953,139 |  |  | $ | 4,028,392 |  |  | $ | 3,896,750 |
Sourcing |  | 287,687 |  |  | 322,898 |  |  | 263,508 |  |  | 241,158 |
Total revenues |  | 3,925,327 |  |  | 4,276,037 |  |  | 4,291,900 |  |  | 4,137,908 |
Costs and expenses: |  |  |  |  |  |  |  |
Purchased transportation and related services |  | 3,041,602 |  |  | 3,313,196 |  |  | 3,359,520 |  |  | 3,207,859 |
Purchased products sourced for resale |  | 257,800 |  |  | 291,358 |  |  | 238,336 |  |  | 216,266 |
Personnel expenses |  | 328,297 |  |  | 340,630 |  |  | 335,299 |  |  | 339,316 |
Other selling, general, and administrative expenses |  | 106,043 |  |  | 111,845 |  |  | 112,772 |  |  | 118,950 |
Total costs and expenses |  | 3,733,742 |  |  | 4,057,029 |  |  | 4,045,927 |  |  | 3,882,391 |
Income from operations |  | 191,585 |  |  | 219,008 |  |  | 245,973 |  |  | 255,517 |
Net income |  | $ | 142,297 |  |  | $ | 159,163 |  |  | $ | 175,895 |  |  | $ | 187,150 |
Basic net income per share |  | $ | 1.02 |  |  | $ | 1.14 |  |  | $ | 1.27 |  |  | $ | 1.36 |
Diluted net income per share |  | $ | 1.01 |  |  | $ | 1.13 |  |  | $ | 1.25 |  |  | $ | 1.34 |
Basic weighted average shares outstanding |  | 140,032 |  |  | 139,464 |  |  | 138,797 |  |  | 137,797 |
Dilutive effect of outstanding stock awards |  | 1,238 |  |  | 1,147 |  |  | 1,363 |  |  | 1,385 |
Diluted weighted average shares outstanding |  | 141,270 |  |  | 140,611 |  |  | 140,160 |  |  | 139,182 |
__________________________ (1) The adoption of ASU 2014-09, Revenue from Contracts with Customers, resulted in an increase to our net income of $2.1 million, $6.6 million, $0.5 million, and reduced our net income by $4.2 million for the quarters ended March 31, June 30, September 30, and December 31, respectively, compared to the accounting standards in effect for 2017.
2017 |  | March 31 (1) |  | June 30 |  | September 30 |  | December 31 (2)
Revenues: |  |  |  |  |  |  |  |
Transportation |  | $ | 3,102,043 |  |  | $ | 3,319,995 |  |  | $ | 3,433,701 |  |  | $ | 3,647,167 |
Sourcing |  | 313,082 |  |  | 390,023 |  |  | 350,750 |  |  | 312,619 |
Total revenues |  | 3,415,125 |  |  | 3,710,018 |  |  | 3,784,451 |  |  | 3,959,786 |
Costs and expenses: |  |  |  |  |  |  |  |
Purchased transportation and related services |  | 2,563,885 |  |  | 2,781,355 |  |  | 2,869,616 |  |  | 3,042,434 |
Purchased products sourced for resale |  | 282,674 |  |  | 354,874 |  |  | 320,989 |  |  | 285,503 |
Personnel expenses |  | 290,504 |  |  | 284,220 |  |  | 293,204 |  |  | 311,599 |
Other selling, general, and administrative expenses |  | 90,104 |  |  | 107,749 |  |  | 106,177 |  |  | 109,374 |
Total costs and expenses |  | 3,227,167 |  |  | 3,528,198 |  |  | 3,589,986 |  |  | 3,748,910 |
Income from operations |  | 187,958 |  |  | 181,820 |  |  | 194,465 |  |  | 210,876 |
Net income |  | $ | 122,080 |  |  | $ | 111,071 |  |  | $ | 119,186 |  |  | $ | 152,556 |
Basic net income per share |  | $ | 0.86 |  |  | $ | 0.79 |  |  | $ | 0.85 |  |  | $ | 1.09 |
Diluted net income per share |  | $ | 0.86 |  |  | $ | 0.78 |  |  | $ | 0.85 |  |  | $ | 1.08 |
Basic weighted average shares outstanding |  | 141,484 |  |  | 141,061 |  |  | 140,422 |  |  | 139,572 |
Dilutive effect of outstanding stock awards |  | 374 |  |  | 526 |  |  | 600 |  |  | 1,152 |
Diluted weighted average shares outstanding |  | 141,858 |  |  | 141,587 |  |  | 141,022 |  |  | 140,724 |
__________________________ (1) Our provision for income taxes decreased in the first quarter of 2017 by $13.7 million due to our adoption of ASU 2016-09, Compensation - Stock Compensation (Topic 718). (2) Our provision for income taxes decreased in the fourth quarter by $19.7 million due to the benefit of deductions under section 199 of the Internal Revenue Code and $12.1 million due to the impact of the Tax Act.

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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