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Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2018

Discontinued Operations And Disposal Groups [Abstract]

Schedule of Discontinued Operations Relating to Income Statement, Balance Sheet and Cash Flow Activities

Income from discontinued operations is comprised of the following:

	Years Ended December 31,
	2018				2017				2016
Revenue	$	739,534			$	908,870			$	819,572
Transportation costs		648,986				788,982				696,107
Gross margin		90,548				119,888				123,465
Costs and expenses:
Salaries and benefits		11,043				12,821				14,340
Agent fees and commissions		56,631				73,955				72,754
General and administrative		5,795				8,071				7,841
Depreciation and amortization		632				1,158				1,253
Total costs and expenses		74,101				96,005				96,188
Operating income from discontinued operations		16,447				23,883				27,277
Other income
Interest income		22				67				47
Other, net		(15	)			56				70
Gain on Disposition		132,448				-				-
Total other income		132,455				123				117
Income from discontinued operations before income taxes		148,902				24,006				27,394
Provision for income taxes		34,823				8,867				10,235
Income from discontinued operations	$	114,079			$	15,139			$	17,159

See the table below for a reconciliation of the gain recorded on the sale of Mode:

Net proceeds received from Disposition (1)	$	227,986
Consideration receivable due from Mode (2)		18,981
Adjusted proceeds from Disposition	$	246,967
Mode assets:
Accounts receivable		173,669
Accounts receivable other		22
Prepaid expenses		260
Property and equipment		2,501
Restricted investments		4,467
Other intangibles, net		9,033
Goodwill, net		29,389
Other assets		209
Total Mode assets		219,550
Mode liabilities:
Accounts payable (3)		97,536
Accrued payroll		3,072
Accrued other		6,285
Non-current liabilities		3,936
Total Mode liabilities		110,829
Transaction costs for Disposition (4)		5,798
Gain on sale of the Mode business before income taxes	$	132,448

(1) The proceeds received from the Disposition are net of working capital adjustments outlined in the Disposition agreement.

(2) Additional consideration to be received as a result of post close contractual adjustments

(3) Includes $2.3 million of bank overdrafts assumed by the Purchaser.

(4) Costs include advisory fees, legal fees and professional fees.

Assets and liabilities classified as held for sale in our Consolidated Balance Sheet are comprised of the following:

		December 31,
		2017
Accounts receivable, net		$	159,314
Accounts receivable, other			19
Prepaid expenses and other current assets			283
Total current assets held for sale			159,616
Restricted investments			4,038
Property and equipment, net			937
Other intangibles, net			9,601
Goodwill, net			29,389
Other assets			51
Total non-current assets held for sale			44,016
Total assets held for sale		$	203,632
Accounts payable		$	99,067
Accrued payroll			2,320
Accrued other			5,798
Total current liabilities held for sale			107,185
Non-current liabilities			4,328
Total liabilities held for sale		$	111,513

Total operating and investing cash flows of discontinued operations for the twelve months ended December 31, 2018, 2017 and 2016 are comprised of the following, which exclude the effect of income taxes:

(in thousands)	2018				2017				2016
Net cash (used in) provided by operating activities		(4,318	)			25,147				25,183
Net cash provided by (used in) investing activities		245,339				(823	)			(127	)

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Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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