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OPERATING SEGMENT DATA (Tables) | 12 Months Ended
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Dec. 31, 2014
OPERATING SEGMENT DATA |
Schedule of reportable operating segment information | The following table reflects reportable operating segment information for the years ended December 31:
|  | 2014 |  | 2013 |  | 2012 |
|  | (in thousands) |
REVENUES |  |  |  |  |  |  |
Freight Transportation (ABF Freight) |  | $ | 1,930,990 |  | $ | 1,761,716 |  | $ | 1,701,495 |
Premium Logistics (Panther)(1) |  | 316,668 |  | 246,849 |  | 132,326 |
Emergency & Preventative Maintenance (FleetNet) |  | 158,581 |  | 137,546 |  | 115,968 |
Transportation Management (ABF Logistics) |  | 152,632 |  | 105,223 |  | 66,431 |
Household Goods Moving Services (ABF Moving) |  | 94,628 |  | 82,169 |  | 77,619 |
Other and eliminations |  | (40,806 | ) | (33,954 | ) | (27,840 | )
Total consolidated revenues |  | $ | 2,612,693 |  | $ | 2,299,549 |  | $ | 2,065,999 |
OPERATING EXPENSES |  |  |  |  |  |  |
Freight Transportation (ABF Freight) |  |  |  |  |  |  |
Salaries, wages, and benefits |  | $ | 1,121,177 |  | $ | 1,075,259 |  | $ | 1,071,084 |
Fuel, supplies, and expenses |  | 360,850 |  | 332,433 |  | 329,284 |
Operating taxes and licenses |  | 46,955 |  | 43,865 |  | 43,336 |
Insurance |  | 24,960 |  | 21,823 |  | 20,742 |
Communications and utilities |  | 15,398 |  | 15,027 |  | 14,713 |
Depreciation and amortization |  | 68,752 |  | 72,971 |  | 78,672 |
Rents and purchased transportation |  | 229,443 |  | 180,689 |  | 156,810 |
Gain on sale of property and equipment |  | (1,471 | ) | (576 | ) | (711 | )
Pension settlement expense(3) |  | 5,309 |  | 1,831 |  | — |
Other |  | 9,524 |  | 8,361 |  | 7,365 |
Total Freight Transportation (ABF Freight) |  | 1,880,897 |  | 1,751,683 |  | 1,721,295 |
Premium Logistics (Panther)(1) |  |  |  |  |  |  |
Purchased transportation |  | 235,006 |  | 188,561 |  | 101,559 |
Depreciation and amortization |  | 11,362 |  | 10,516 |  | 5,438 |
Salaries, benefits, insurance, and other |  | 54,660 |  | 40,816 |  | 22,927 |
Total Premium Logistics (Panther) |  | 301,028 |  | 239,893 |  | 129,924 |
Emergency & Preventative Maintenance (FleetNet) |  | 155,459 |  | 134,272 |  | 114,033 |
Transportation Management (ABF Logistics) |  | 148,797 |  | 102,250 |  | 63,418 |
Household Goods Moving Services (ABF Moving) |  | 91,449 |  | 80,319 |  | 76,927 |
Other and eliminations(3) |  | (34,176 | ) | (27,938 | ) | (25,030 | )
Total consolidated operating expenses(3) |  | $ | 2,543,454 |  | $ | 2,280,479 |  | $ | 2,080,567 |
OPERATING INCOME (LOSS) |  |  |  |  |  |  |
Freight Transportation (ABF Freight) |  | $ | 50,093 |  | $ | 10,033 |  | $ | (19,800 | )
Premium Logistics (Panther)(1) |  | 15,640 |  | 6,956 |  | 2,402 |
Emergency & Preventative Maintenance (FleetNet) |  | 3,122 |  | 3,274 |  | 1,935 |
Transportation Management (ABF Logistics) |  | 3,835 |  | 2,973 |  | 3,013 |
Household Goods Moving Services (ABF Moving) |  | 3,179 |  | 1,850 |  | 692 |
Other and eliminations |  | (6,630 | ) | (6,016 | ) | (2,810 | )
Total consolidated operating income (loss) |  | $ | 69,239 |  | $ | 19,070 |  | $ | (14,568 | )
OTHER INCOME (COSTS) |  |  |  |  |  |  |
Interest and dividend income(1) |  | $ | 851 |  | $ | 681 |  | $ | 808 |
Interest and other related financing costs(1) |  | (3,190 | ) | (4,183 | ) | (5,273 | )
Other, net(2) |  | 3,712 |  | 3,893 |  | 2,041 |
Total other income (costs) |  | 1,373 |  | 391 |  | (2,424 | )
INCOME (LOSS) BEFORE INCOME TAXES |  | $ | 70,612 |  | $ | 19,461 |  | $ | (16,992 | )
| (1) |  | Includes the operations of Panther since the June 15, 2012 acquisition date (see Note D).
| (2) |  | Includes changes in cash surrender value and proceeds of life insurance policies.
| (3) |  | Pension settlement expense totaled $6.6 million (pre-tax) on a consolidated basis for the year ended December 31, 2014, of which $5.3 million was reported by ABF Freight, $1.1 million was reported in other and eliminations, and $0.2 million was reported by non-asset-based segments. Pension settlement expense totaled $2.1 million (pre-tax) for the year ended December 31, 2013, of which $1.8 million was reported by ABF Freight and $0.3 million was reported in other and eliminations.
The following table presents operating expenses by category on a consolidated basis:
|  | For the year ended December 31 |
|  | 2014 |  | 2013 |  | 2012 |
|  | (in thousands) |
OPERATING EXPENSES |  |  |  |  |  |  |
Salaries, wages, and benefits |  | $ | 1,231,783 |  | $ | 1,166,185 |  | $ | 1,141,064 |
Rents, purchased transportation, and other costs of services |  | 759,252 |  | 598,604 |  | 437,604 |
Fuel, supplies, and expenses |  | 353,385 |  | 321,887 |  | 315,182 |
Depreciation and amortization |  | 86,222 |  | 88,389 |  | 87,754 |
Other |  | 112,812 |  | 105,414 |  | 98,963 |
|  | $ | 2,543,454 |  | $ | 2,280,479 |  | $ | 2,080,567 |
The following table provides asset, capital expenditure, and depreciation and amortization information by reportable operating segment:
|  | December 31 |
|  | 2014 |  | 2013 |  | 2012 |
|  | (in thousands) |
ASSETS |  |  |  |  |  |  |
Freight Transportation (ABF Freight) |  | $ | 621,734 |  | $ | 530,678 |  | $ | 550,676 |
Premium Logistics (Panther) |  | 218,135 |  | 216,747 |  | 222,280 |
Emergency & Preventative Maintenance (FleetNet) |  | 23,532 |  | 21,517 |  | 18,413 |
Transportation Management (ABF Logistics) |  | 37,571 |  | 27,836 |  | 15,437 |
Household Goods Moving Services (ABF Moving) |  | 22,276 |  | 20,941 |  | 21,754 |
Other and eliminations(1) |  | 204,374 |  | 199,607 |  | 205,902 |
|  | $ | 1,127,622 |  | $ | 1,017,326 |  | $ | 1,034,462 |
|  | For the year ended December 31 |
|  | 2014 |  | 2013 |  | 2012 |
|  | (in thousands) |
CAPITAL EXPENDITURES, GROSS |  |  |  |  |  |  |
Freight Transportation (ABF Freight)(2) |  | $ | 78,766 |  | $ | 11,091 |  | $ | 68,235 |
Premium Logistics (Panther)(3) |  | 6,414 |  | 3,854 |  | 1,579 |
Emergency & Preventative Maintenance (FleetNet) |  | 550 |  | 1,314 |  | 685 |
Transportation Management (ABF Logistics) |  | 158 |  | 286 |  | 45 |
Household Goods Moving Services (ABF Moving) |  | 424 |  | 493 |  | 416 |
Other and eliminations |  | 4,496 |  | 9,367 |  | 4,291 |
|  | $ | 90,808 |  | $ | 26,405 |  | $ | 75,251 |
|  | For the year ended December 31 |
|  | 2014 |  | 2013 |  | 2012 |
|  | (in thousands) |
DEPRECIATION AND AMORTIZATION EXPENSE(1) |  |  |  |  |  |  |
Freight Transportation (ABF Freight) |  | $ | 68,752 |  | $ | 72,971 |  | $ | 78,672 |
Premium Logistics (Panther)(3)(4) |  | 11,362 |  | 10,516 |  | 5,438 |
Emergency & Preventative Maintenance (FleetNet)(5) |  | 961 |  | 540 |  | 497 |
Transportation Management (ABF Logistics) |  | 1,006 |  | 640 |  | 364 |
Household Goods Moving Services (ABF Moving) |  | 1,384 |  | 1,247 |  | 769 |
Other and eliminations |  | 2,757 |  | 2,475 |  | 2,014 |
|  | $ | 86,222 |  | $ | 88,389 |  | $ | 87,754 |
| (1) |  | Other and eliminations includes certain assets held by the parent holding company for strategic reasons, including unrestricted and restricted cash, cash equivalents, and short-term investments, as well as certain assets held for the benefit of multiple segments, including land and structures of the Company’s corporate headquarters and information systems equipment. Depreciation and amortization associated with these assets is allocated to the reporting segments. Depreciation and amortization expense includes amortization of internally developed capitalized software which has not been included in gross capital expenditures presented in the table.
| (2) |  | Includes assets acquired through notes payable and capital leases of $55.3 million in 2014, less than $0.1 million in 2013, and $38.0 million in 2012.
| (3) |  | Includes operations of the Premium Logistics segment since the June 15, 2012 acquisition of Panther.
| (4) |  | Includes amortization of intangibles of $4.2 million in 2014 (see Note E). Amortization of intangibles which totaled $4.2 million and $2.3 million has been included for 2013 and 2012, respectively, to conform to the current year presentation. Amortization of intangibles was previously reported in the footnote to the depreciation and amortization expense by operating segment table in Note N to the consolidated financial statements in Part II, Item 8 of the Company’s 2013 Annual Report on Form 10-K.
| (5) |  | Includes amortization of intangibles which totaled $0.2 million in 2014 (see Note E)

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8721-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8813-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8736-108599 + Details
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