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OPERATING SEGMENT DATA (Tables) | 9 Months Ended
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Sep. 30, 2016
OPERATING SEGMENT DATA |
Schedule of reportable operating segment information |
|  | Three Months Ended |  | Nine Months Ended |
|  | September 30 |  | September 30 |
|  | 2016 |  | 2015 |  | 2016 |  | 2015 |
|  | (in thousands) |
REVENUES |  |  |  |  |  |  |  |  |  |  |  |  |
Freight Transportation (ABF Freight) |  | $ | 509,452 |  | $ | 511,346 |  | $ | 1,435,691 |  | $ | 1,456,924 |
Premium Logistics (Panther) |  |  | 75,365 |  |  | 73,583 |  |  | 211,148 |  |  | 229,146 |
Transportation Management (ABF Logistics)(1) |  |  | 72,442 |  |  | 49,270 |  |  | 207,344 |  |  | 147,061 |
Emergency & Preventative Maintenance (FleetNet) |  |  | 39,073 |  |  | 45,181 |  |  | 124,417 |  |  | 129,685 |
Household Goods Moving Services (ABF Moving) |  |  | 31,040 |  |  | 43,076 |  |  | 74,926 |  |  | 93,870 |
Other and eliminations |  |  | (13,449) |  |  | (13,076) |  |  | (41,521) |  |  | (37,915) |
Total consolidated revenues |  | $ | 713,923 |  | $ | 709,380 |  | $ | 2,012,005 |  | $ | 2,018,771 |
OPERATING EXPENSES |  |  |  |  |  |  |  |  |  |  |  |  |
Freight Transportation (ABF Freight) |  |  |  |  |  |  |  |  |  |  |  |  |
Salaries, wages, and benefits |  | $ | 312,458 |  | $ | 304,865 |  | $ | 912,758 |  | $ | 884,875 |
Fuel, supplies, and expenses |  |  | 71,774 |  |  | 77,708 |  |  | 210,742 |  |  | 236,381 |
Operating taxes and licenses |  |  | 12,312 |  |  | 12,444 |  |  | 36,446 |  |  | 36,762 |
Insurance |  |  | 8,487 |  |  | 8,288 |  |  | 22,613 |  |  | 20,340 |
Communications and utilities |  |  | 4,608 |  |  | 3,808 |  |  | 13,259 |  |  | 11,559 |
Depreciation and amortization |  |  | 20,753 |  |  | 18,841 |  |  | 62,056 |  |  | 54,528 |
Rents and purchased transportation |  |  | 58,350 |  |  | 56,920 |  |  | 145,846 |  |  | 151,144 |
Gain on sale of property and equipment |  |  | (81) |  |  | (565) |  |  | (2,450) |  |  | (1,403) |
Pension settlement expense(1) |  |  | 604 |  |  | 572 |  |  | 1,705 |  |  | 1,860 |
Other |  |  | 2,137 |  |  | 1,888 |  |  | 6,293 |  |  | 6,167 |
Total Freight Transportation (ABF Freight) |  |  | 491,402 |  |  | 484,769 |  |  | 1,409,268 |  |  | 1,402,213 |
Premium Logistics (Panther) |  |  |  |  |  |  |  |  |  |  |  |  |
Purchased transportation |  |  | 54,586 |  |  | 54,015 |  |  | 155,444 |  |  | 168,569 |
Depreciation and amortization |  |  | 2,860 |  |  | 2,773 |  |  | 8,565 |  |  | 8,636 |
Salaries, benefits, insurance, and other |  |  | 13,946 |  |  | 14,062 |  |  | 41,808 |  |  | 43,174 |
Total Premium Logistics (Panther) |  |  | 71,392 |  |  | 70,850 |  |  | 205,817 |  |  | 220,379 |
Transportation Management (ABF Logistics)(1) |  |  | 72,032 |  |  | 47,478 |  |  | 205,772 |  |  | 142,686 |
Emergency & Preventative Maintenance (FleetNet) |  |  | 38,952 |  |  | 44,225 |  |  | 122,716 |  |  | 126,542 |
Household Goods Moving Services (ABF Moving) |  |  | 29,054 |  |  | 40,048 |  |  | 72,819 |  |  | 89,207 |
Other and eliminations(2) |  |  | (9,279) |  |  | (11,428) |  |  | (32,146) |  |  | (30,439) |
Total consolidated operating expenses(2) |  | $ | 693,553 |  | $ | 675,942 |  | $ | 1,984,246 |  | $ | 1,950,588 |
| (1) |  | The 2016 periods include the operations of LDS since the September 2, 2016 acquisition date and the operations of Bear, which was acquired in December 2015.
| (2) |  | Pre-tax pension settlement expense totaled $0.8 million on a consolidated basis for the three months ended September 30, 2016 and 2015, of which $0.6 million was reported by ABF Freight, $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 nine months ended September 30, 2016 and 2015, pre-tax pension settlement expense totaled $2.3 million and $2.5 million, respectively, of which $1.7 million and $1.9 million, respectively, was reported by ABF Freight, $0.5 million was reported in Other and eliminations, and $0.1 million was reported by the asset-light logistics operating segments.
|  | Three Months Ended |  | Nine Months Ended |  |
|  | September 30 |  | September 30 |  |
|  | 2016 |  | 2015 |  | 2016 |  | 2015 |  |
|  | (in thousands) |  |
OPERATING INCOME |  |  |  |  |  |  |  |  |  |  |  |  |  |
Freight Transportation (ABF Freight) |  | $ | 18,050 |  | $ | 26,577 |  | $ | 26,423 |  | $ | 54,711 |  |
Premium Logistics (Panther) |  |  | 3,973 |  |  | 2,733 |  |  | 5,331 |  |  | 8,767 |  |
Transportation Management (ABF Logistics)(1) |  |  | 410 |  |  | 1,792 |  |  | 1,572 |  |  | 4,375 |  |
Emergency & Preventative Maintenance (FleetNet) |  |  | 121 |  |  | 956 |  |  | 1,701 |  |  | 3,143 |  |
Household Goods Moving Services (ABF Moving) |  |  | 1,986 |  |  | 3,028 |  |  | 2,107 |  |  | 4,663 |  |
Other and eliminations |  |  | (4,170) |  |  | (1,648) |  |  | (9,375) |  |  | (7,476) |  |
Total consolidated operating income |  | $ | 20,370 |  | $ | 33,438 |  | $ | 27,759 |  | $ | 68,183 |  |
OTHER INCOME (COSTS) |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest and dividend income |  | $ | 390 |  | $ | 378 |  | $ | 1,178 |  | $ | 882 |  |
Interest and other related financing costs |  |  | (1,296) |  |  | (1,157) |  |  | (3,774) |  |  | (3,183) |  |
Other, net(2) |  |  | 1,091 |  |  | (613) |  |  | 2,028 |  |  | (15) |  |
Total other costs |  |  | 185 |  |  | (1,392) |  |  | (568) |  |  | (2,316) |  |
INCOME BEFORE INCOME TAXES |  | $ | 20,555 |  | $ | 32,046 |  | $ | 27,191 |  | $ | 65,867 |  |
| (1) |  | The 2016 periods include the operations of LDS since the September 2, 2016 acquisition date and the operations of Bear, which was acquired in December 2015.
| (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 |  | Nine Months Ended |  |
|  | September 30 |  | September 30 |  |
|  | 2016 |  | 2015 |  | 2016 |  | 2015 |  |
|  | (in thousands) |  |
OPERATING EXPENSES |  |  |  |  |  |  |  |  |  |  |  |  |  |
Salaries, wages, and benefits |  | $ | 345,091 |  | $ | 334,144 |  | $ | 1,009,654 |  | $ | 973,570 |  |
Rents, purchased transportation, and other costs of services |  |  | 218,906 |  |  | 209,744 |  |  | 601,345 |  |  | 588,329 |  |
Fuel, supplies, and expenses |  |  | 69,508 |  |  | 77,067 |  |  | 204,134 |  |  | 231,097 |  |
Depreciation and amortization(1) |  |  | 25,793 |  |  | 23,373 |  |  | 76,692 |  |  | 68,221 |  |
Other |  |  | 34,255 |  |  | 31,614 |  |  | 92,421 |  |  | 89,371 |  |
|  | $ | 693,553 |  | $ | 675,942 |  | $ | 1,984,246 |  | $ | 1,950,588 |  |
| (1) |  | Includes amortization of intangible assets.
The following table provides asset information by reportable segment:
|  | September 30 |  | December 31 |
|  | 2016 |  | 2015 |
|  | (in thousands)
ASSETS |  |  |  |  |  |  |
Freight Transportation (ABF Freight) |  | $ | 763,385 |  | $ | 694,059 |
Premium Logistics (Panther) |  |  | 215,659 |  |  | 216,075 |
Transportation Management (ABF Logistics) |  |  | 113,079 |  |  | 75,023 |
Emergency & Preventative Maintenance (FleetNet) |  |  | 23,563 |  |  | 21,958 |
Household Goods Moving Services (ABF Moving) |  |  | 26,988 |  |  | 28,547 |
Other and eliminations(1) |  |  | 178,194 |  |  | 227,247 |
|  | $ | 1,320,868 |  | $ | 1,262,909 |
| (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.

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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=68060357&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=68060357&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=68060357&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=68060357&loc=d3e8736-108599 + Details
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