RESTRUCTURING AND IMPAIRMENT COSTS

3 Months Ended

Mar. 31, 2026

Restructuring and Related Activities [Abstract]

During the fourth quarter 2025, we began to incur costs in connection with the strategic restructuring of our One-Way Truckload business to enhance long-term profitability and fleet utilization by maximizing production and mitigating unprofitable freight. Key steps in this initiative included exiting selective unprofitable regional and short-haul truckload freight, further integrating our one-way acquisition operations, and a further shift in the One-Way Truckload fleet composition toward more specialized, expedited (“Expedited”), and team capacity. This repositioning focused on eliminating underperforming business. We believe this restructuring reflects the necessary steps to rationalize our assets and business model for future margin expansion.

The following table summarizes activity in our restructuring liability during the three months ended March 31, 2026, which is included in other current liabilities on the consolidated condensed balance sheets (in thousands):


	Other Revenue Equipment Costs
Restructuring liability balance, December 31, 2025	$	6,643

Costs paid or otherwise settled	(1,627)

Restructuring liability balance, March 31, 2026	$	5,016

The following table summarizes the cumulative amount of restructuring and impairment costs incurred as of March 31, 2026 related to the restructuring of our One-Way Truckload business (in thousands):


Financial Statement Classification	Intangible Asset Impairment		Revenue Equipment Impairment		Other Revenue Equipment Costs		Current Assets (1)		Total
Restructuring and impairment (2)	$	21,735	$	14,360	$	6,643	$	1,487	$	44,225

(1) Costs relating to the removal of prepaid expenses, inventory, and other current assets.

(2) Cumulative costs to date were incurred during the year ended December 31, 2025.

These costs are recorded in our One-Way Truckload operating segment. There may be changes in previously recorded estimates as assets are sold, payments are made, and further restructuring actions are completed. All restructuring and impairment activities are expected to be completed by the end of 2026.