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v3.25.2

Segment Reporting (Tables) | 6 Months Ended
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Jun. 30, 2025
Segment Reporting [Abstract] |
Schedule of our financial and operating data by segment | The following tables summarize our financial and operating data by segment for the three months ended June 30, 2025 and June 30, 2024 (in thousands):
Three Months Ended |
June 30, 2025 |
| ITS |  | Logistics |  | Eliminations |  | Total |
Operating revenue | $ | 528,184 |  | $ | 404,310 |  | $ | (26,846 | ) | $ | 905,648 |
Operating expenses |  |  |  |  |  |  |  |
Purchased transportation and warehousing |  | 364,048 |  |  | 318,409 |  |  | (26,553 | ) |  |
Salaries and benefits |  | 87,716 |  |  | 32,556 |  |  | - |  |  |
Depreciation and amortization |  | 19,140 |  |  | 8,250 |  |  | - |  |  |
Insurance and claims |  | 9,423 |  |  | 868 |  |  | (293 | ) |  |
General and administrative |  | 8,298 |  |  | 6,233 |  |  | - |  |  |
Corporate allocations |  | 25,018 |  |  | 18,053 |  |  | - |  |  |
(Gain) / loss on sale of assets, net |  | 134 |  |  | - |  |  | - |  |  |
Total operating expenses |  | 513,777 |  |  | 384,369 |  |  | (26,846 | ) |  | 871,300 |
Operating income | $ | 14,407 |  | $ | 19,941 |  | $ | - |  | $ | 34,348 |
Three Months Ended |
June 30, 2024 |
| ITS |  | Logistics |  | Eliminations |  | Total |
Operating revenue | $ | 561,033 |  | $ | 459,088 |  | $ | (33,626 | ) | $ | 986,495 |
Operating expenses |  |  |  |  |  |  |  |
Purchased transportation and warehousing |  | 397,129 |  |  | 363,424 |  |  | (33,292 | ) |  |
Salaries and benefits |  | 84,157 |  |  | 35,029 |  |  | - |  |  |
Depreciation and amortization |  | 24,045 |  |  | 8,021 |  |  | - |  |  |
Insurance and claims |  | 10,012 |  |  | 1,542 |  |  | (334 | ) |  |
General and administrative |  | 7,249 |  |  | 5,872 |  |  | - |  |  |
Corporate allocations |  | 25,184 |  |  | 19,345 |  |  | - |  |  |
(Gain) / loss on sale of assets, net |  | (382 | ) |  | (34 | ) |  | - |  |  |
Total operating expenses |  | 547,394 |  |  | 433,199 |  |  | (33,626 | ) |  | 946,967 |
Operating income | $ | 13,639 |  | $ | 25,889 |  | $ | - |  | $ | 39,528 |
The following tables summarize our financial and operating data by segment for the six months ended June 30, 2025 and June 30, 2024 (in thousands):
Six Months Ended |
June 30, 2025 |
| ITS |  | Logistics |  | Eliminations |  | Total |
Operating revenue | $ | 1,058,206 |  | $ | 815,311 |  | $ | (52,653 | ) | $ | 1,820,864 |
Operating expenses |  |  |  |  |  |  |  |
Purchased transportation and warehousing |  | 727,962 |  |  | 637,929 |  |  | (52,066 | ) |  |
Salaries and benefits |  | 177,247 |  |  | 67,412 |  |  | - |  |  |
Depreciation and amortization |  | 38,089 |  |  | 16,536 |  |  | - |  |  |
Insurance and claims |  | 18,323 |  |  | 2,460 |  |  | (587 | ) |  |
General and administrative |  | 16,869 |  |  | 10,720 |  |  | - |  |  |
Corporate allocations |  | 51,191 |  |  | 37,027 |  |  | - |  |  |
(Gain) / loss on sale of assets, net |  | 68 |  |  | (3 | ) |  | - |  |  |
Total operating expenses |  | 1,029,749 |  |  | 772,081 |  |  | (52,653 | ) |  | 1,749,177 |
Operating income | $ | 28,457 |  | $ | 43,230 |  | $ | - |  | $ | 71,687 |
Six Months Ended |
June 30, 2024 |
| ITS |  | Logistics |  | Eliminations |  | Total |
Operating revenue | $ | 1,113,066 |  | $ | 939,312 |  | $ | (66,390 | ) | $ | 1,985,988 |
Operating expenses |  |  |  |  |  |  |  |
Purchased transportation and warehousing |  | 785,334 |  |  | 747,850 |  |  | (65,722 | ) |  |
Salaries and benefits |  | 169,558 |  |  | 69,737 |  |  | - |  |  |
Depreciation and amortization |  | 48,103 |  |  | 16,841 |  |  | - |  |  |
Insurance and claims |  | 19,855 |  |  | 3,327 |  |  | (668 | ) |  |
General and administrative |  | 14,092 |  |  | 11,708 |  |  | - |  |  |
Corporate allocations |  | 50,337 |  |  | 39,886 |  |  | - |  |  |
(Gain) / loss on sale of assets, net |  | (883 | ) |  | (34 | ) |  | - |  |  |
Total operating expenses |  | 1,086,396 |  |  | 889,315 |  |  | (66,390 | ) |  | 1,909,321 |
Operating income | $ | 26,670 |  | $ | 49,997 |  | $ | - |  | $ | 76,667 |
The “Eliminations” column primarily relates to revenues for transportation management services provided to the Logistics segment and recognized as revenues in the ITS segment, and operating expenses incurred by the Logistics segment for these intercompany services.
Schedule of revenues from External Customers by Geographic Region | The following table summarizes our revenue from external customers by geographic region (in thousands):
| Three Months Ended |  |  | Six Months Ended |
| June 30, |  |  | June 30, |
| 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
United States | $ | 878,479 |  |  | $ | 986,362 |  |  | $ | 1,769,045 |  |  | $ | 1,985,740 |
Mexico |  | 27,169 |  |  |  | 133 |  |  |  | 51,819 |  |  |  | 248 |
Revenue from external customers | $ | 905,648 |  |  | $ | 986,495 |  |  | $ | 1,820,864 |  |  | $ | 1,985,988 |

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- Definition Tabular disclosure of revenue from external customers by geographic areas attributed to the entity's country of domicile and to foreign countries from which the entity derives revenue. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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