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Fair Value Measurements | 12 Months Ended
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Dec. 31, 2012
Fair Value Disclosures [Abstract] |
FAIR VALUE MEASUREMENTS | FAIR VALUE MEASUREMENTS The following tables present our assets and liabilities that are measured at fair value on a recurring basis and the levels of inputs used to measure fair value:
|  |  |  | Fair Value Measurements At December 31, 2012 Using |  |
|  | Balance Sheet Location |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
|  |  |  | (In thousands)
Assets: |  |  |  |  |  |  |  |  |  |
Interest rate swap |  | Prepaid expenses and other current assets |  | $ | — |  |  | 1,313 |  |  | — |  |  | 1,313 |
Interest rate swaps |  | DFL and other assets |  | — |  |  | 15,412 |  |  | — |  |  | 15,412 |
Investments held in Rabbi Trusts: |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  |  |  | 4,055 |  |  | — |  |  | — |  |  | 4,055 |
U.S. equity mutual funds |  |  |  | 10,871 |  |  | — |  |  | — |  |  | 10,871 |
Foreign equity mutual funds |  |  |  | 2,974 |  |  | — |  |  | — |  |  | 2,974 |
Fixed income mutual funds |  |  |  | 4,526 |  |  | — |  |  | — |  |  | 4,526 |
Investments held in Rabbi Trusts |  | DFL and other assets |  | 22,426 |  |  | — |  |  | — |  |  | 22,426 |
Total assets at fair value |  |  |  | $ | 22,426 |  |  | 16,725 |  |  | — |  |  | 39,151 |
Liabilities: |  |  |  |  |  |  |  |  |  |
Contingent consideration |  | Other non-current liabilities |  | — |  |  | — |  |  | 478 |  |  | 478 |
Total liabilities at fair value |  |  |  | $ | — |  |  | — |  |  | 478 |  |  | 478 |
|  |  |  | Fair Value Measurements At December 31, 2011 Using |  |
|  | Balance Sheet Location |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
|  |  |  | (In thousands)
Assets: |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  | DFL and other assets |  | $ | — |  |  | 21,843 |  |  | — |  |  | 21,843 |
Investments held in Rabbi Trusts: |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  |  |  | 3,783 |  |  | — |  |  | — |  |  | 3,783 |
U.S. equity mutual funds |  |  |  | 8,850 |  |  | — |  |  | — |  |  | 8,850 |
Foreign equity mutual funds |  |  |  | 2,526 |  |  | — |  |  | — |  |  | 2,526 |
Fixed income mutual funds |  |  |  | 3,537 |  |  | — |  |  | — |  |  | 3,537 |
Investments held in Rabbi Trusts |  | DFL and other assets |  | 18,696 |  |  | — |  |  | — |  |  | 18,696 |
Total assets at fair value |  |  |  | $ | 18,696 |  |  | 21,843 |  |  | — |  |  | 40,539 |
Liabilities: |  |  |  |  |  |  |  |  |  |
Contingent consideration |  | Accrued Expenses |  | $ | — |  |  | — |  |  | 1,000 |  |  | 1,000 |
Total liabilities at fair value |  |  |  | $ | — |  |  | — |  |  | 1,000 |  |  | 1,000 |
The following table presents our assets that are measured at fair value on a nonrecurring basis and the levels of inputs used to measure fair value:
|  | Fair Value Measurements At December 31, 2012 Using |  | Year ended December 31, 2012
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total Losses (2)
Assets held for sale: |  |  |  |  |  |  |  |
Revenue earning equipment: (1) |  |  |  |  |  |  |  |
Trucks |  | $ | — |  |  | — |  |  | 14,263 |  |  | $ | 12,853 |
Tractors |  | — |  |  | — |  |  | 11,619 |  |  | 4,058 |
Trailers |  | — |  |  | — |  |  | 585 |  |  | 1,489 |
Total assets at fair value |  | $ | — |  |  | — |  |  | 26,467 |  |  | $ | 18,400 |
|  | Fair Value Measurements At December 31, 2011 Using |  | Year ended December 31, 2011
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total Losses (2)
Assets held for sale: |  |  |  |  |  |  |  |
Revenue earning equipment (1) |  |  |  |  |  |  |  |
Trucks |  | $ | — |  |  | — |  |  | 6,147 |  |  | $ | 5,556 |
Tractors |  | — |  |  | — |  |  | 3,040 |  |  | 1,982 |
Trailers |  | — |  |  | — |  |  | 296 |  |  | 1,353 |
Total assets at fair value |  | $ | — |  |  | — |  |  | 9,483 |  |  | $ | 8,891 |
______________
(1) | Represents the portion of all revenue earning equipment held for sale that is recorded at fair value, less costs to sell.
(2) | Total losses represent fair value adjustments for all vehicles held for sale throughout the period for which fair value less costs to sell was less than carrying value.
Revenue earning equipment held for sale is stated at the lower of carrying amount or fair value less costs to sell. Losses to reflect changes in fair value are presented within “Other operating expenses” in the Consolidated Statements of Earnings. For revenue earning equipment held for sale, we stratify our fleet by vehicle type (trucks, tractors and trailers), weight class, age and other relevant characteristics and create classes of similar assets for analysis purposes. Fair value was determined based upon recent market prices obtained from our own sales experience for sales of each class of similar assets and vehicle condition. Therefore, our revenue earning equipment held for sale was classified within Level 3 of the fair value hierarchy. During the years ended December 31, 2012, 2011, and 2010, we recorded losses to reflect changes in fair value of $18 million, $9 million and $23 million, respectively. Total fair value of debt (excluding capital lease obligations) at December 31, 2012 and 2011 was $3.99 billion and $3.51 billion, respectively. For publicly-traded debt, estimates of fair value are based on market prices. Since our publicly-traded debt is not actively traded, the fair value measurement was classified within Level 2 of the fair value hierarchy. For other debt, fair value is estimated based on rates currently available to us for debt with similar terms and remaining maturities. Therefore, the fair value measurement of our other debt was classified within Level 2 of the fair value hierarchy. The carrying amounts reported in the Consolidated Balance Sheets for cash and cash equivalents, accounts receivable and accounts payable approximate fair value because of the immediate or short-term maturities of these financial instruments.

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- Definition The entire disclosure of the fair value measurement of assets and liabilities, which includes financial instruments measured at fair value that are classified in shareholders' equity, which may be measured on a recurring or nonrecurring basis. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19279-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19190-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 33 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 32 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 107 -Paragraph 10 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 6 -Footnote 4 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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