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Segment Reporting
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
We are organized into two reportable segments: North American LTL, the largest component of our business, and European Transportation.
In our North American LTL segment, we provide shippers with geographic density and day-definite domestic and cross-border services to the U.S., as well as Mexico, Canada and the Caribbean. Our North American LTL segment also includes the results of our trailer manufacturing operation.
In our European Transportation segment, we serve an extensive base of customers within the consumer, trade and industrial markets. We offer dedicated truckload, LTL, full truckload brokerage, warehousing, managed transportation, last mile, freight forwarding, and multimodal solutions.
Corporate includes corporate headquarters costs for executive officers and certain legal and financial functions, and other costs and credits not attributed to our reportable segments.
Our chief operating decision maker (“CODM”) is our chairman and chief executive officer. Our CODM regularly reviews financial information at the operating segment level to allocate resources to the segments and to assess their performance. We include items directly attributable to a segment, and those that can be allocated on a reasonable basis, including corporate costs, in segment results reported to the CODM. We do not provide asset information by segment to the CODM.
Our CODM evaluates segment profit (loss) based on adjusted earnings before interest, taxes, depreciation and amortization (“adjusted EBITDA”), which we define as income before debt extinguishment loss, interest expense, income tax provision, depreciation and amortization expense, legal matters, transaction and integration costs, restructuring costs and other adjustments.
Our CODM uses adjusted EBITDA to allocate resources, including property and equipment and financial or capital resources, to the segments and to assess their performance by monitoring budget-to-actual and year-over-year variances.
The following tables present revenue and significant segment expenses that are included within adjusted EBITDA:
Three Months Ended March 31, 2026
(In millions)North American LTLEuropean Transportation
Corporate (1)
Total
Revenue$1,229 $868 $— $2,096 
Salaries, wages and employee benefits642 235 4 880 
Purchased transportation30 394 — 423 
Fuel, operating expenses and supplies236 187 — 423 
Operating taxes and licenses16 5 — 21 
Insurance and claims18 16 — 34 
(Gains) losses on sales of property and equipment1 (2)— (1)
Pension (income) expense(4)— — (4)
Adjusted EBITDA$290 $33 $(4)$319 
Three Months Ended March 31, 2025
(In millions)North American LTLEuropean Transportation
Corporate (1)
Total
Revenue$1,172 $782 $— $1,954 
Salaries, wages and employee benefits615 212 4 832 
Purchased transportation37 363 — 399 
Fuel, operating expenses and supplies232 162 — 393 
Operating taxes and licenses16 3 — 19 
Insurance and claims24 10 — 35 
(Gains) losses on sales of property and equipment— (1)— (2)
Pension (income) expense(2)— — (1)
Adjusted EBITDA$250 $32 $(4)$278 
(1)    Primarily represents unallocated corporate costs.
The following table presents adjusted EBITDA by segment and provides a reconciliation to consolidated net income:
Three Months Ended March 31,
(In millions)20262025
Adjusted EBITDA
North American LTL$290 $250 
European Transportation33 32 
Corporate(4)(4)
Total Adjusted EBITDA319 278 
Less:
Debt extinguishment loss— 5 
Interest expense53 56 
Income tax provision23 22 
Depreciation and amortization expense131 123 
Legal matters (1)
— (11)
Transaction and integration costs2 3 
Restructuring costs9 12 
Net Income$101 $69 
(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 March 31,
(In millions)20262025
Depreciation and amortization expense
North American LTL$97 $90 
European Transportation33 32 
Corporate1 1 
Total$131 $123 
As of March 31, 2026 and December 31, 2025, we held long-lived tangible assets outside of the U.S., including right of use assets, of $824 million and $844 million, respectively.