XML 35 R21.htm IDEA: XBRL DOCUMENT
v3.23.2

Segment Reporting (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2023
Segment Reporting [Abstract] |
Schedule of Selected Financial Data for Each Reportable Segment | Selected financial data for our segments is as follows:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
(in millions) |  | 2023 |  | 2022 |  | 2023 |  | 2022
Revenue |  |  |  |  |  |  |  |
North American LTL |  | $ | 1,136 |  |  | $ | 1,240 |  |  | $ | 2,256 |  |  | $ | 2,347 |
European Transportation |  | 781 |  |  | 807 |  |  | 1,568 |  |  | 1,594 |
Total |  | $ | 1,917 |  |  | $ | 2,047 |  |  | $ | 3,824 |  |  | $ | 3,941 |
Adjusted EBITDA |  |  |  |  |  |  |  |
North American LTL |  | $ | 208 |  |  | $ | 274 |  |  | $ | 390 |  |  | $ | 460 |
European Transportation |  | 46 |  |  | 49 |  |  | 83 |  |  | 87 |
Corporate |  | (10) |  |  | (34) |  |  | (19) |  |  | (74) |
Total Adjusted EBITDA |  | 244 |  |  | 289 |  |  | 454 |  |  | 473 |
Less: |  |  |  |  |  |  |  |
Debt extinguishment loss |  | 23 |  |  | 26 |  |  | 23 |  |  | 26 |
Interest expense |  | 43 |  |  | 31 |  |  | 85 |  |  | 68 |
Income tax provision |  | 13 |  |  | 31 |  |  | 17 |  |  | 39 |
Depreciation and amortization expense |  | 107 |  |  | 96 |  |  | 208 |  |  | 190 |
Transaction and integration costs (1) |  | 17 |  |  | 7 |  |  | 39 |  |  | 14 |
Restructuring costs (2) |  | 10 |  |  | 2 |  |  | 34 |  |  | 8 |
Income from continuing operations |  | $ | 31 |  |  | $ | 96 |  |  | $ | 48 |  |  | $ | 128 |
Depreciation and amortization expense |  |  |  |  |  |  |  |
North American LTL |  | $ | 71 |  |  | 59 |  |  | $ | 139 |  |  | $ | 115 |
European Transportation |  | 33 |  |  | 32 |  |  | 65 |  |  | 65 |
Corporate |  | 3 |  |  | 5 |  |  | 4 |  |  | 10 |
Total |  | $ | 107 |  |  | $ | 96 |  |  | $ | 208 |  |  | $ | 190 |
(1) Transaction and integration costs for the periods ended June 30, 2023 are primarily comprised of stock-based compensation and retention awards for certain employees related to strategic initiatives. Transaction and integration costs for the periods ended June 30, 2022 are primarily comprised of third-party professional fees related to strategic initiatives as well as retention awards paid to certain employees. Transaction and integration costs for the three months ended June 30, 2023 and 2022 include $0 million and $2 million, respectively, related to our North American LTL segment, $0 million and $1 million, respectively, related to our European Transportation segment, and $17 million and $4 million, respectively, related to Corporate. Transaction and integration costs for the six months ended June 30, 2023 and 2022 include $0 million and $2 million, respectively, related to our North American LTL segment, $1 million and $3 million, respectively, related to our European Transportation segment, and $38 million and $9 million, respectively, related to Corporate. (2) See Note 5— Restructuring Charges for further information on our restructuring actions.

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration