On August 31, 2018, Hub Group, Inc. entered into the Purchase Agreement with Mode, a direct wholly-owned subsidiary of the Company, and Mode Purchaser, Inc., an affiliate of York Capital Management (“Purchaser”) pursuant to which the Company sold all of the issued and outstanding membership interests of Mode to Purchaser (the “Disposition”). Total consideration received by the Company for the Disposition in the third quarter of 2018 was $238.5 million in cash, subject to customary purchase price adjustments. An additional $19.4 million consideration receivable was recorded in other receivables in the Consolidated Balance Sheet in the fourth quarter of 2018 due to the settlement of the net working capital and other contractual adjustments. The $19.4 million receivable was received in the first quarter of 2019.

During the three months ended March 31, 2018, Mode had revenue of $13.6 million from Hub and Hub had revenue of $10.0 million from Mode. These sales were eliminated on our Consolidated Statements of Income. In connection with the Disposition, the Company and Mode have entered into a transition services agreement pursuant to which both the Company and Mode will provide certain immaterial transition services to the other party for a period of time following the closing.

The 2018 results associated with Mode are classified as income from discontinued operations, net of income taxes, in our Consolidated Statements of Income. Income from discontinued operations is comprised of the following:

	Three Months Ended
	March 31, 2018
Revenue	$	258,628
Transportation costs		226,876
Gross margin		31,752

Costs and expenses:
Salaries and benefits		3,703
General and administrative		21,209
Depreciation and amortization		242
Total costs and expenses		25,154

Operating income from discontinued operations		6,598

Other income
Interest income		10
Other, net		(5	)
Total other income		5

Income from discontinued operations before income taxes		6,603
Provision for income taxes		1,505

Income from discontinued operations	$	5,098

Selling, general and administrative expenses recorded in discontinued operations include corporate costs incurred directly in support of Mode.

Proceeds from the sale of Mode have been presented in the Consolidated Statements of Cash Flows under investing activities for the three months ended March 31, 2019. Total operating and investing cash flows of discontinued operations for the three months ended March 31, 2018 are comprised of the following, which exclude the effect of income taxes: