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Segment Reporting | 9 Months Ended
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Sep. 30, 2024
Segment Reporting [Abstract] |
Segment Reporting | SEGMENT REPORTING We have three reportable segments – Truckload, Intermodal, and Logistics – which are based primarily on the services each segment provides. As of January 1, 2023, our operating segments within the Truckload reportable segment were VTL, Bulk, and MLS. As a result of expanding our dedicated business through recent acquisitions, in the fourth quarter of 2023, we reorganized the operating segments within Truckload into Dedicated, which includes MLS and M&M; Van Network; and Bulk. The three operating segments are aggregated because they have similar economic characteristics with our other Truckload operating segments and meet the other aggregation criteria described in ASC 280. Dedicated provides truckload services primarily focused on freight with consistent routes often based on long-term contracts, Van Network consists of irregular routes, and Bulk delivers key inputs for manufacturing processes, such as specialty chemicals. The CODM reviews revenues for each segment without the inclusion of fuel surcharge revenues. For segment purposes, any fuel surcharge revenues earned are recorded as a reduction of the segment’s fuel expenses. Income from operations at the segment level reflects the measure presented to the CODM for each segment. Separate balance sheets are not prepared by segment, and as a result, assets are not separately identifiable by segment. All transactions between reportable segments are eliminated in consolidation. Substantially all of our revenues and assets were generated or located within the U.S. The following tables summarize our segment information. Inter-segment revenues within Other include revenues from insurance premiums charged to other segments for workers’ compensation, auto, and other types of insurance. Inter-segment revenues included in Other revenues below were $23.9 million and $15.6 million for the three months ended September 30, 2024 and 2023, respectively, and $73.5 million and $50.0 million for the nine months ended September 30, 2024 and 2023, respectively.
Revenues by Segment |  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(in millions) |  | 2024 |  | 2023 |  | 2024 |  | 2023
Truckload |  | $ | 532.2 |  |  | $ | 535.3 |  |  | $ | 1,610.6 |  |  | $ | 1,605.0 |
Intermodal |  | 264.7 |  |  | 263.0 |  |  | 765.0 |  |  | 790.1 |
Logistics |  | 313.7 |  |  | 326.0 |  |  | 957.4 |  |  | 1,051.6 |
Other |  | 105.2 |  |  | 78.4 |  |  | 295.1 |  |  | 249.5 |
Fuel surcharge |  | 138.1 |  |  | 172.6 |  |  | 442.8 |  |  | 507.4 |
Inter-segment eliminations |  | (38.2) |  |  | (23.3) |  |  | (119.5) |  |  | (76.4) |
Operating revenues |  | $ | 1,315.7 |  |  | $ | 1,352.0 |  |  | $ | 3,951.4 |  |  | $ | 4,127.2 |
Income (Loss) from Operations by Segment |  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(in millions) |  | 2024 |  | 2023 |  | 2024 |  | 2023
Truckload |  | $ | 23.7 |  |  | $ | 24.5 |  |  | $ | 69.3 |  |  | $ | 151.9 |
Intermodal |  | 15.7 |  |  | 11.1 |  |  | 37.3 |  |  | 64.8 |
Logistics |  | 7.6 |  |  | 8.5 |  |  | 24.2 |  |  | 39.8 |
Other |  | (3.9) |  |  | 2.6 |  |  | (8.0) |  |  | 8.6 |
Income from operations |  | $ | 43.1 |  |  | $ | 46.7 |  |  | $ | 122.8 |  |  | $ | 265.1 |
Depreciation and Amortization by Segment |  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(in millions) |  | 2024 |  | 2023 |  | 2024 |  | 2023
Truckload |  | $ | 74.3 |  |  | $ | 70.2 |  |  | $ | 224.6 |  |  | $ | 205.4 |
Intermodal |  | 13.3 |  |  | 13.3 |  |  | 40.2 |  |  | 39.8 |
Logistics |  | — |  |  | — |  |  | — |  |  | 0.1 |
Other |  | 14.3 |  |  | 13.3 |  |  | 42.4 |  |  | 36.5 |
Depreciation and amortization |  | $ | 101.9 |  |  | $ | 96.8 |  |  | $ | 307.2 |  |  | $ | 281.8 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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