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OPERATING SEGMENT DATA (Tables) | 6 Months Ended
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Jun. 30, 2015
OPERATING SEGMENT DATA |
Schedule of reportable operating segment information |
|  | Three Months Ended |  | Six Months Ended |
|  | June 30 |  | June 30 |
|  | 2015 |  | 2014 |  | 2015 |  | 2014 |
|  | (in thousands) |
REVENUES |  |  |  |  |  |  |  |  |
Freight Transportation (ABF Freight) |  | $ | 504,371 |  | $ | 492,857 |  | $ | 945,578 |  | $ | 921,728 |
Premium Logistics (Panther) |  | 80,271 |  | 81,425 |  | 155,563 |  | 153,651 |
Emergency & Preventative Maintenance (FleetNet) |  | 42,015 |  | 38,307 |  | 84,504 |  | 80,006 |
Transportation Management (ABF Logistics) |  | 50,419 |  | 35,493 |  | 97,791 |  | 65,210 |
Household Goods Moving Services (ABF Moving) |  | 32,225 |  | 22,855 |  | 50,793 |  | 37,605 |
Other and eliminations |  | (13,186 | ) | (12,291 | ) | (24,838 | ) | (21,650 | )
Total consolidated revenues |  | $ | 696,115 |  | $ | 658,646 |  | $ | 1,309,391 |  | $ | 1,236,550 |
OPERATING EXPENSES |  |  |  |  |  |  |  |  |
Freight Transportation (ABF Freight) |  |  |  |  |  |  |  |  |
Salaries, wages, and benefits |  | $ | 301,639 |  | $ | 279,372 |  | $ | 580,010 |  | $ | 540,527 |
Fuel, supplies, and expenses |  | 79,647 |  | 93,277 |  | 158,673 |  | 184,067 |
Operating taxes and licenses |  | 12,322 |  | 11,770 |  | 24,318 |  | 23,263 |
Insurance |  | 6,267 |  | 5,966 |  | 12,052 |  | 11,361 |
Communications and utilities |  | 3,766 |  | 3,731 |  | 7,751 |  | 7,973 |
Depreciation and amortization |  | 18,286 |  | 16,841 |  | 35,686 |  | 33,178 |
Rents and purchased transportation |  | 52,380 |  | 55,549 |  | 94,224 |  | 102,969 |
Gain on sale of property and equipment |  | (594 | ) | (40 | ) | (838 | ) | (243 | )
Pension settlement expense(1) |  | 448 |  | 708 |  | 1,288 |  | 3,598 |
Other |  | 2,118 |  | 2,848 |  | 4,279 |  | 4,382 |
Total Freight Transportation (ABF Freight) |  | 476,279 |  | 470,022 |  | 917,443 |  | 911,075 |
Premium Logistics (Panther) |  |  |  |  |  |  |  |  |
Purchased transportation |  | 58,510 |  | 60,185 |  | 114,554 |  | 114,759 |
Depreciation and amortization(2) |  | 2,939 |  | 2,838 |  | 5,863 |  | 5,574 |
Salaries, benefits, insurance, and other |  | 13,984 |  | 14,044 |  | 29,113 |  | 25,596 |
Total Premium Logistics (Panther) |  | 75,433 |  | 77,067 |  | 149,530 |  | 145,929 |
Emergency & Preventative Maintenance (FleetNet) |  | 40,998 |  | 37,607 |  | 82,317 |  | 77,905 |
Transportation Management (ABF Logistics) |  | 48,611 |  | 34,639 |  | 95,208 |  | 63,821 |
Household Goods Moving Services (ABF Moving) |  | 30,228 |  | 22,232 |  | 49,159 |  | 37,823 |
Other and eliminations(1) |  | (8,900 | ) | (9,873 | ) | (19,012 | ) | (18,253 | )
Total consolidated operating expenses |  | $ | 662,649 |  | $ | 631,694 |  | $ | 1,274,645 |  | $ | 1,218,300 |
| (1) |  | Pension settlement expense totaled $0.6 million (pre-tax) and $0.9 million (pre-tax) on a consolidated basis for the three months ended June 30, 2015 and 2014, respectively, of which $0.4 million and $0.7 million was reported by ABF Freight, $0.1 million and $0.2 million was reported in Other and eliminations, and less than $0.1 million was reported by the asset-light logistics operating segments, for the respective periods. Pension settlement expense totaled $1.7 million (pre-tax) and $4.6 million (pre-tax) on a consolidated basis for the six months ended June 30, 2015 and 2014, respectively, of which $1.3 million and $3.6 million was reported by ABF Freight, $0.3 million and $0.9 million was reported in Other and eliminations, and $0.1 million was reported by the asset-light logistics operating segments, for the respective periods.
| (2) |  | Depreciation and amortization consists primarily of amortization of intangibles, including customer relationships and software associated with the June 15, 2012 acquisition of Panther.
|  | Three Months Ended |  | Six Months Ended |
|  | June 30 |  | June 30 |
|  | 2015 |  | 2014 |  | 2015 |  | 2014 |
|  | (in thousands) |
OPERATING INCOME |  |  |  |  |  |  |  |  |
Freight Transportation (ABF Freight) |  | $ | 28,092 |  | $ | 22,835 |  | $ | 28,135 |  | $ | 10,653 |
Premium Logistics (Panther) |  | 4,838 |  | 4,358 |  | 6,033 |  | 7,722 |
Emergency & Preventative Maintenance (FleetNet) |  | 1,017 |  | 700 |  | 2,187 |  | 2,101 |
Transportation Management (ABF Logistics) |  | 1,808 |  | 854 |  | 2,583 |  | 1,389 |
Household Goods Moving Services (ABF Moving) |  | 1,997 |  | 623 |  | 1,634 |  | (218 | )
Other and eliminations |  | (4,286 | ) | (2,418 | ) | (5,826 | ) | (3,397 | )
Total consolidated operating income |  | $ | 33,466 |  | $ | 26,952 |  | $ | 34,746 |  | $ | 18,250 |
OTHER INCOME (COSTS) |  |  |  |  |  |  |  |  |
Interest and dividend income |  | $ | 271 |  | $ | 194 |  | $ | 505 |  | $ | 384 |
Interest and other related financing costs |  | (1,025 | ) | (725 | ) | (2,027 | ) | (1,533 | )
Other, net |  | 197 |  | 950 |  | 597 |  | 1,315 |
Total other income (costs) |  | (557 | ) | 419 |  | (925 | ) | 166 |
INCOME BEFORE INCOME TAXES |  | $ | 32,909 |  | $ | 27,371 |  | $ | 33,821 |  | $ | 18,416 |
|  | Three Months Ended |  | Six Months Ended |
|  | June 30 |  | June 30 |
|  | 2015 |  | 2014 |  | 2015 |  | 2014 |
|  | (in thousands) |
OPERATING EXPENSES |  |  |  |  |  |  |  |  |
Salaries, wages, and benefits |  | $ | 332,510 |  | $ | 305,977 |  | $ | 639,426 |  | $ | 592,778 |
Rents, purchased transportation, and other costs of services |  | 200,619 |  | 184,179 |  | 378,585 |  | 348,305 |
Fuel, supplies, and expenses |  | 78,127 |  | 91,291 |  | 154,029 |  | 180,064 |
Depreciation and amortization |  | 22,616 |  | 21,224 |  | 44,848 |  | 41,677 |
Other |  | 28,777 |  | 29,023 |  | 57,757 |  | 55,476 |
|  | $ | 662,649 |  | $ | 631,694 |  | $ | 1,274,645 |  | $ | 1,218,300 |

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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 30 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8906-108599 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=51669610&loc=d3e8813-108599 Reference 3: 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=51669610&loc=d3e8721-108599 Reference 4: 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 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=51669610&loc=d3e8736-108599 + Details
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