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OPERATING SEGMENT DATA (Tables) | 6 Months Ended
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Jun. 30, 2016
OPERATING SEGMENT DATA |
Schedule of reportable operating segment information |
|  | Three Months Ended |  | Six Months Ended |
|  | June 30 |  | June 30 |
|  | 2016 |  | 2015 |  | 2016 |  | 2015 |
|  | (in thousands) |
REVENUES |  |  |  |  |  |  |  |  |  |  |  |  |
Freight Transportation (ABF Freight) |  | $ | 486,731 |  | $ | 504,371 |  | $ | 926,239 |  | $ | 945,578 |
Premium Logistics (Panther) |  |  | 69,705 |  |  | 80,271 |  |  | 135,783 |  |  | 155,563 |
Transportation Management (ABF Logistics) |  |  | 67,955 |  |  | 50,419 |  |  | 134,902 |  |  | 97,791 |
Emergency & Preventative Maintenance (FleetNet) |  |  | 41,780 |  |  | 42,015 |  |  | 85,344 |  |  | 84,504 |
Household Goods Moving Services (ABF Moving) |  |  | 25,742 |  |  | 32,225 |  |  | 43,886 |  |  | 50,793 |
Other and eliminations |  |  | (15,286) |  |  | (13,186) |  |  | (28,072) |  |  | (24,838) |
Total consolidated revenues |  | $ | 676,627 |  | $ | 696,115 |  | $ | 1,298,082 |  | $ | 1,309,391 |
OPERATING EXPENSES |  |  |  |  |  |  |  |  |  |  |  |  |
Freight Transportation (ABF Freight) |  |  |  |  |  |  |  |  |  |  |  |  |
Salaries, wages, and benefits |  | $ | 303,693 |  | $ | 301,639 |  | $ | 600,300 |  | $ | 580,010 |
Fuel, supplies, and expenses |  |  | 72,279 |  |  | 79,647 |  |  | 138,968 |  |  | 158,673 |
Operating taxes and licenses |  |  | 12,154 |  |  | 12,322 |  |  | 24,134 |  |  | 24,318 |
Insurance |  |  | 7,660 |  |  | 6,267 |  |  | 14,126 |  |  | 12,052 |
Communications and utilities |  |  | 4,279 |  |  | 3,766 |  |  | 8,651 |  |  | 7,751 |
Depreciation and amortization |  |  | 20,911 |  |  | 18,286 |  |  | 41,303 |  |  | 35,686 |
Rents and purchased transportation |  |  | 47,800 |  |  | 52,380 |  |  | 87,496 |  |  | 94,224 |
Gain on sale of property and equipment |  |  | (2,197) |  |  | (594) |  |  | (2,369) |  |  | (838) |
Pension settlement expense(1) |  |  | 424 |  |  | 448 |  |  | 1,101 |  |  | 1,288 |
Other |  |  | 2,356 |  |  | 2,118 |  |  | 4,156 |  |  | 4,279 |
Total Freight Transportation (ABF Freight) |  |  | 469,359 |  |  | 476,279 |  |  | 917,866 |  |  | 917,443 |
Premium Logistics (Panther) |  |  |  |  |  |  |  |  |  |  |  |  |
Purchased transportation |  |  | 52,007 |  |  | 58,510 |  |  | 100,858 |  |  | 114,554 |
Depreciation and amortization |  |  | 2,868 |  |  | 2,939 |  |  | 5,705 |  |  | 5,863 |
Salaries, benefits, insurance, and other |  |  | 13,728 |  |  | 13,984 |  |  | 27,862 |  |  | 29,113 |
Total Premium Logistics (Panther) |  |  | 68,603 |  |  | 75,433 |  |  | 134,425 |  |  | 149,530 |
Transportation Management (ABF Logistics) |  |  | 67,459 |  |  | 48,611 |  |  | 133,740 |  |  | 95,208 |
Emergency & Preventative Maintenance (FleetNet) |  |  | 41,184 |  |  | 40,998 |  |  | 83,764 |  |  | 82,317 |
Household Goods Moving Services (ABF Moving) |  |  | 24,872 |  |  | 30,228 |  |  | 43,765 |  |  | 49,159 |
Other and eliminations(1) |  |  | (11,504) |  |  | (8,900) |  |  | (22,867) |  |  | (19,012) |
Total consolidated operating expenses(1) |  | $ | 659,973 |  | $ | 662,649 |  | $ | 1,290,693 |  | $ | 1,274,645 |
| (1) |  | Pre-tax pension settlement expense totaled $0.6 million on a consolidated basis for the three months ended June 30, 2016 and 2015, of which $0.4 million was reported by ABF Freight, $0.1 million was reported in Other and eliminations, and less than $0.1 million was reported by the asset-light logistics operating segments. For the six months ended June 30, 2016 and 2015, pre-tax pension settlement expense totaled $1.5 million and $1.7 million, respectively, of which $1.1 million and $1.3 million, respectively, was reported by ABF Freight, $0.3 million was reported in Other and eliminations, and $0.1 million was reported by the asset-light logistics operating segments.
|  | Three Months Ended |  | Six Months Ended |  |
|  | June 30 |  | June 30 |  |
|  | 2016 |  | 2015 |  | 2016 |  | 2015 |  |
|  | (in thousands) |  |
OPERATING INCOME |  |  |  |  |  |  |  |  |  |  |  |  |  |
Freight Transportation (ABF Freight) |  | $ | 17,372 |  | $ | 28,092 |  | $ | 8,373 |  | $ | 28,135 |  |
Premium Logistics (Panther) |  |  | 1,102 |  |  | 4,838 |  |  | 1,358 |  |  | 6,033 |  |
Transportation Management (ABF Logistics) |  |  | 496 |  |  | 1,808 |  |  | 1,162 |  |  | 2,583 |  |
Emergency & Preventative Maintenance (FleetNet) |  |  | 596 |  |  | 1,017 |  |  | 1,580 |  |  | 2,187 |  |
Household Goods Moving Services (ABF Moving) |  |  | 870 |  |  | 1,997 |  |  | 121 |  |  | 1,634 |  |
Other and eliminations |  |  | (3,782) |  |  | (4,286) |  |  | (5,205) |  |  | (5,826) |  |
Total consolidated operating income |  | $ | 16,654 |  | $ | 33,466 |  | $ | 7,389 |  | $ | 34,746 |  |
OTHER INCOME (COSTS) |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest and dividend income |  | $ | 387 |  | $ | 271 |  | $ | 788 |  | $ | 505 |  |
Interest and other related financing costs |  |  | (1,231) |  |  | (1,025) |  |  | (2,478) |  |  | (2,027) |  |
Other, net(2) |  |  | 571 |  |  | 197 |  |  | 937 |  |  | 597 |  |
Total other costs |  |  | (273) |  |  | (557) |  |  | (753) |  |  | (925) |  |
INCOME BEFORE INCOME TAXES |  | $ | 16,381 |  | $ | 32,909 |  | $ | 6,636 |  | $ | 33,821 |  |
| (2) |  | Includes changes in cash surrender value of life insurance policies.
The following table presents operating expenses by category on a consolidated basis:
|  | Three Months Ended |  | Six Months Ended |  |
|  | June 30 |  | June 30 |  |
|  | 2016 |  | 2015 |  | 2016 |  | 2015 |  |
|  | (in thousands) |  |
OPERATING EXPENSES |  |  |  |  |  |  |  |  |  |  |  |  |  |
Salaries, wages, and benefits |  | $ | 335,094 |  | $ | 332,510 |  | $ | 664,563 |  | $ | 639,426 |  |
Rents, purchased transportation, and other costs of services |  |  | 199,352 |  |  | 200,619 |  |  | 382,440 |  |  | 378,585 |  |
Fuel, supplies, and expenses |  |  | 70,406 |  |  | 78,127 |  |  | 134,626 |  |  | 154,029 |  |
Depreciation and amortization(1) |  |  | 25,748 |  |  | 22,616 |  |  | 50,899 |  |  | 44,848 |  |
Other |  |  | 29,373 |  |  | 28,777 |  |  | 58,165 |  |  | 57,757 |  |
|  | $ | 659,973 |  | $ | 662,649 |  | $ | 1,290,693 |  | $ | 1,274,645 |  |
| (1) |  | Includes amortization of intangible assets.

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