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