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Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2025

Segment Reporting [Abstract]

Schedule of Selected Financial Data for Each Reportable Segment

The following tables present revenue and significant segment expenses that are included within adjusted EBITDA:

						Three Months Ended June 30, 2025
(In millions)						North American LTL						European Transportation						Corporate (1)						Total
Revenue						$	1,240					$	841					$	—					$	2,080
Salaries, wages and employee benefits						643						224						4						871
Purchased transportation						32						394						—						426
Fuel, operating expenses and supplies						222						163						—						384
Operating taxes and licenses						17						4						—						21
Insurance and claims						25						15						—						40
(Gains) losses on sales of property and equipment						2						(3)						—						(1)
Pension (income) expense						(2)						—						—						(1)
Adjusted EBITDA						$	300					$	44					$	(4)					$	340

						Three Months Ended June 30, 2024
(In millions)						North American LTL						European Transportation						Corporate (1)						Total
Revenue						$	1,272					$	808					$	—					$	2,079
Salaries, wages and employee benefits						639						212						3						854
Purchased transportation						68						368						—						436
Fuel, operating expenses and supplies						236						165						—						402
Operating taxes and licenses						16						4						—						21
Insurance and claims						20						13						—						33
(Gains) losses on sales of property and equipment						1						(5)						—						(4)
Pension (income) expense						(6)						—						—						(6)
Adjusted EBITDA						$	297					$	49					$	(3)					$	343

						Six Months Ended June 30, 2025
(In millions)						North American LTL						European Transportation						Corporate (1)						Total
Revenue						$	2,412					$	1,622					$	—					$	4,034
Salaries, wages and employee benefits						1,259						436						8						1,703
Purchased transportation						69						757						—						826
Fuel, operating expenses and supplies						454						324						—						777
Operating taxes and licenses						33						7						—						40
Insurance and claims						49						26						—						75
(Gains) losses on sales of property and equipment						2						(5)						—						(3)
Pension (income) expense						(3)						—						—						(3)
Adjusted EBITDA						$	550					$	76					$	(8)					$	618

						Six Months Ended June 30, 2024
(In millions)						North American LTL						European Transportation						Corporate (1)						Total
Revenue						$	2,493					$	1,605					$	—					$	4,097
Salaries, wages and employee benefits						1,252						428						8						1,688
Purchased transportation						146						728						—						874
Fuel, operating expenses and supplies						479						335						—						814
Operating taxes and licenses						32						8						—						40
Insurance and claims						41						27						3						71
(Gains) losses on sales of property and equipment						3						(9)						—						(5)
Pension (income) expense						(13)						—						—						(12)
Other (income) expense						—						—						(3)						(3)
Adjusted EBITDA						$	551					$	87					$	(8)					$	631

(1)    Primarily represents unallocated corporate costs, as well as investment income of approximately $3 million within Other (income) expense in the first quarter of 2024.

The following table presents adjusted EBITDA by segment and provides a reconciliation to consolidated net income:

						Three Months Ended June 30,												Six Months Ended June 30,
(In millions)						2025						2024						2025						2024
Adjusted EBITDA
North American LTL						$	300					$	297					$	550					$	551
European Transportation						44						49						76						87
Corporate						(4)						(3)						(8)						(8)
Total Adjusted EBITDA						340						343						618						631
Less:
Debt extinguishment loss						—						—						5						—
Interest expense						56						56						112						114
Income tax provision (benefit)						37						(3)						59						20
Depreciation and amortization expense						131						122						254						239
Legal matter (1)						(2)						—						(13)						—
Transaction and integration costs						3						12						6						26
Restructuring costs						8						6						20						14
Net Income						$	106					$	150					$	175					$	217

(1)    Reflects the settlement of claims against certain truck manufacturers related to purchases by our European Transportation segment covering periods prior to our acquisition of Norbert Dentressangle SA in 2015.

The following table presents depreciation and amortization expense by segment:

						Three Months Ended June 30,												Six Months Ended June 30,
(In millions)						2025						2024						2025						2024
Depreciation and amortization expense
North American LTL						$	96					$	86					$	185					$	168
European Transportation						34						35						67						70
Corporate						1						1						2						2
Total						$	131					$	122					$	254					$	239

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 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: 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 3: 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

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X

- References

No definition available.

+ Details

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