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Acquisition (Tables)

12 Months Ended

Dec. 31, 2019

Amortization Expense

Amortization expense for the next five years is as follows (in thousands):

	Total
Year 1	$	13,316
Year 2		12,742
Year 3		12,700
Year 4		12,555
Year 5		10,960

CaseStack, Inc. [Member]

Summary of Total Purchase Price Allocated to Net Assets Acquired

The following table summarizes the total purchase price allocated to the net assets acquired (in thousands):

Cash paid	$	249,389
Deferred purchase consideration		3,469
Total consideration	$	252,858

Preliminary Allocation of Total Consideration to Assets Acquired and Liabilities Assumed

The following table summarizes the allocation of the total consideration to the assets acquired and liabilities assumed as of the date of the acquisition (in thousands):

Accounts receivable trade	$	31,896
Prepaid expenses and other current assets		694
Property and equipment		3,247
Deferred tax assets		6,433
Goodwill, net		166,070
Other intangibles		75,600
Other assets		120
Total assets acquired	$	284,060
Accounts payable trade	$	24,542
Accrued payroll		2,811
Accrued other		3,849
Total liabilities assumed	$	31,202
Total consideration	$	252,858

Components of Other Intangibles Acquired

The components of “Other intangibles” listed in the above table as of the acquisition date are as follows (in thousands):

					Accumulated				Balance at				Estimated Useful
	Amount				Amortization				December 31, 2019				Life
Customer relationships - logistics services	$	65,600			$	7,107			$	58,493			10 years
Customer relationships - transportation services	$	8,700			$	1,885			$	6,815			5 years
Trade name	$	1,300			$	939			$	361			18 months

Amortization Expense

Amortization expense related to CaseStack for the next five years is as follows (in thousands):

		Total
Year 1		$	8,661
Year 2			8,300
Year 3			8,300
Year 4			8,155
Year 5			6,560

CaseStack, Inc. and Hub Group Dedicated [Member]

Unaudited Pro forma Consolidated Results of Operations

The following unaudited pro forma consolidated results of operations presents the effects of CaseStack and Dedicated as though it had been acquired as of January 1, 2017 (in thousands, except for per share amounts):

	Twelve Months Ended
	December 31, 2018				December 31, 2017
Revenue	$	3,912,745			$	3,449,373
Income from continuing operations	$	133,310			$	122,532
Earnings per share (1)
Basic	$	2.81			$	3.69
Diluted	$	2.79			$	3.67

(1) Earnings per share is from continuing operations.

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