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OPERATING SEGMENT DATA (Tables)

12 Months Ended

Dec. 31, 2022

OPERATING SEGMENT DATA

Schedule of reportable operating segment information

​

​	​	​	​	​	​	​	​	​	​	​
​		2022			2021			2020
​	​	(in thousands)
REVENUES	​	​	​	​	​	​	​	​	​	​
Asset-Based	​	$	3,010,900	​	$	2,573,773	​	$	2,092,031	​
ArcBest(1)	​		2,139,272	​		1,300,626	​		779,115	​
FleetNet	​		343,056	​		254,087	​		205,049	​
Other and eliminations	​		(169,176)	​		(148,419)	​		(136,032)	​
Total consolidated revenues	​	$	5,324,052	​	$	3,980,067	​	$	2,940,163	​
OPERATING EXPENSES	​	​	​	​	​	​	​	​	​	​
Asset-Based	​	​	​	​	​	​	​	​	​	​
Salaries, wages, and benefits	​	$	1,293,487	​	$	1,198,253	​	$	1,095,694	​
Fuel, supplies, and expenses	​		378,558	​		266,139	​		209,095	​
Operating taxes and licenses	​		52,290	​		49,461	​		49,300	​
Insurance	​		47,382	​		37,800	​		33,568	​
Communications and utilities	​		18,949	​		18,773	​		17,916	​
Depreciation and amortization	​		97,322	​		93,799	​		94,326	​
Rents and purchased transportation	​		441,167	​		364,345	​		250,159	​
Shared services	​	​	281,698	​	​	263,532	​	​	217,258	​
Gain on sale of property and equipment(2)	​		(12,468)	​		(8,676)	​		(3,309)	​
Innovative technology costs(3)	​	​	27,207	​	​	27,631	​	​	22,458	​
Other	​		4,175	​		2,009	​		6,701	​
Total Asset-Based	​		2,629,767	​		2,313,066	​		1,993,166	​
ArcBest(1)	​	​	​	​	​	​	​	​	​	​
Purchased transportation	​		1,784,668	​		1,097,332	​		649,933	​
Supplies and expenses	​		15,815	​		10,531	​		9,627	​
Depreciation and amortization(4)	​		20,730	​		11,387	​		9,714	​
Shared services	​	​	218,133	​	​	132,137	​	​	90,983	​
Gain on sale of subsidiary(5)	​	​	(402)	​	​	(6,923)	​	​	—	​
Other(6)	​	​	47,603	​		9,765	​		9,203	​
Total ArcBest	​		2,086,547	​		1,254,229	​		769,460	​
FleetNet	​		337,231	​		249,543	​		201,682	​
Other and eliminations	​		(128,762)	​		(117,757)	​		(122,423)	​
Total consolidated operating expenses	​	$	4,924,783	​	$	3,699,081	​	$	2,841,885	​
​	​	​	​	​	​	​	​	​	​	​
OPERATING INCOME	​	​	​	​	​	​	​	​	​	​
Asset-Based	​	$	381,133	​	$	260,707	​	$	98,865	​
ArcBest(1)	​		52,725	​		46,397	​		9,655	​
FleetNet	​		5,825	​		4,544	​		3,367	​
Other and eliminations	​		(40,414)	​		(30,662)	​		(13,609)	​
Total consolidated operating income	​	$	399,269	​	$	280,986	​	$	98,278	​
OTHER INCOME (COSTS)	​	​	​	​	​	​	​	​	​	​
Interest and dividend income	​	$	3,957	​	$	1,275	​	$	3,616	​
Interest and other related financing costs	​		(7,701)	​		(8,904)	​		(11,697)	​
Other, net(7)	​		(2,370)	​		3,797	​		2,299	​
Total other costs	​		(6,114)	​		(3,832)	​		(5,782)	​
INCOME BEFORE INCOME TAXES	​	$	393,155	​	$	277,154	​	$	92,496	​

(1) For 2022 and 2021, includes the operations of MoLo since the November 1, 2021 acquisition (see Note D).

(2) For 2022, includes a $4.3 million noncash gain on a like-kind property exchange of a service center, with the remaining gains related primarily to sales of replaced equipment. For 2021, includes an $8.6 million gain on the sale of unutilized service center property.

(3) Represents costs associated with the freight handling pilot test program at ABF Freight.

(4) Depreciation and amortization includes amortization of intangibles associated with acquired businesses.

(5) Gain recognized relates to the sale of the labor services portion of the ArcBest segment’s moving business in second quarter 2021, including the contingent amount recognized in second quarter 2022 when the funds were released from escrow.

(6) For 2022, includes the increase in fair value of the contingent earnout consideration of $18.3 million recorded for the MoLo acquisition (see Note D).

(7) Includes the components of net periodic benefit cost other than service cost related to the Company’s SBP and postretirement plans (see Note J) and proceeds and changes in cash surrender value of life insurance policies.

​

​

​	​	​	​	​	​	​	​	​	​	​
​	​	For the year ended December 31								​
​		2022			2021			2020		​
​	​	(in thousands)								​
CAPITAL EXPENDITURES, GROSS	​	​	​	​	​	​	​	​	​	​
Asset-Based(1)	​	$	137,117	​	$	96,180	​	$	85,135	​
ArcBest	​	​	14,372	​	​	9,565	​	​	1,258	​
FleetNet	​		1,439	​		1,174	​		675	​
Other and eliminations(2)(3)	​		77,720	​		11,193	​		17,983	​
​	​	$	230,648	​	$	118,112	​	$	105,051	​

​

​	​	​	​	​	​	​	​	​	​	​
​	​	For the year ended December 31								​
​	​	2022			2021			2020		​
​	​	(in thousands)								​
DEPRECIATION AND AMORTIZATION EXPENSE(2)	​	​	​	​	​	​	​	​	​	​
Asset-Based	​	$	97,322	​	$	93,799	​	$	94,326	​
ArcBest(4)	​	​	20,730	​	​	11,387	​	​	9,714	​
FleetNet(5)	​		1,880	​		1,661	​		1,622	​
Other and eliminations(2)	​		20,107	​		17,374	​		12,729	​
​	​	$	140,039	​	$	124,221	​	$	118,391	​

(1) Includes assets acquired through notes payable of $79.0 million, $59.7 million, and $61.8 million in 2022, 2021, and 2020, respectively.

(2) Other and eliminations includes certain assets held for the benefit of multiple segments, including information systems equipment. For 2022, also includes the purchase of a property for $37.5 million. 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.

(3) Includes assets acquired through notes payable of $3.4 million in 2022.

(4) Includes amortization of intangibles of $12.9 million, $5.3 million, and $3.7 million in 2022, 2021, and 2020, respectively.

(5) Includes amortization of intangibles which totaled less than $0.1 million in both 2022 and 2021, and $0.2 million in 2020.

​

​

​	​	​	​	​	​	​	​	​	​	​
​		For the year ended December 31
​		2022(1)			2021(1)			2020
​	​	(in thousands)								​
OPERATING EXPENSES	​	​	​	​	​	​	​	​	​	​
Salaries, wages, and benefits	​	$	1,755,947	​	$	1,550,859	​	$	1,368,588	​
Rents, purchased transportation, and other costs of services	​		2,404,701	​		1,570,050	​		974,835	​
Fuel, supplies, and expenses	​		444,776	​		324,380	​		250,221	​
Depreciation and amortization(2)	​		140,039	​		124,221	​		118,391	​
Other(3)	​		179,320	​		129,571	​		129,850	​
​	​	$	4,924,783	​	$	3,699,081	​	$	2,841,885	​

(1) For 2022 and 2021, includes the operations of MoLo since the November 1, 2021 acquisition (see Note D).

(2) Includes amortization of intangibles assets.

(3) For 2022, includes the increase in fair value of the contingent earnout consideration of $18.3 million recorded by the ArcBest segment for the MoLo acquisition (see Note D). For 2021, includes a $6.9 million gain related to the sale of a subsidiary within the ArcBest segment and an $8.6 million gain related to the sale of an unutilized service center property within the Asset-Based segment.

Schedule of revenues from customers and intersegment revenues

​

​	​	​	​	​	​	​	​	​	​	​
​		2022			2021			2020
​	​	(in thousands)
Revenues from customers	​	​	​	​	​	​	​	​	​	​
Asset-Based	​	$	2,896,284	​	$	2,470,529	​	$	1,998,549	​
ArcBest	​		2,128,394	​		1,291,679	​		770,560	​
FleetNet	​		295,043	​		213,882	​		166,654	​
Other	​		4,331	​		3,977	​		4,400	​
Total consolidated revenues	​	$	5,324,052	​	$	3,980,067	​	$	2,940,163	​
​	​	​	​	​	​	​	​	​	​	​
Intersegment revenues	​	​	​	​	​	​	​	​	​	​
Asset-Based	​	$	114,616	​	$	103,244	​	$	93,482	​
ArcBest	​	​	10,878	​	​	8,947	​	​	8,555	​
FleetNet	​	​	48,013	​	​	40,205	​	​	38,395	​
Other and eliminations	​	​	(173,507)	​	​	(152,396)	​	​	(140,432)	​
Total intersegment revenues	​	$	—	​	$	—	​	$	—	​
​	​	​	​	​	​	​	​	​	​	​
Total segment revenues	​	​	​	​	​	​	​	​	​	​
Asset-Based	​	$	3,010,900	​	​	2,573,773	​	$	2,092,031	​
ArcBest(1)	​	​	2,139,272	​	​	1,300,626	​	​	779,115	​
FleetNet	​	​	343,056	​	​	254,087	​	​	205,049	​
Other and eliminations	​	​	(169,176)	​	​	(148,419)	​	​	(136,032)	​
Total consolidated revenues(1)	​	$	5,324,052	​	$	3,980,067	​	$	2,940,163	​

(1) For 2022 and 2021, includes the operations of MoLo since the November 1, 2021 acquisition (see Note D).

​

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- Definition

Tabular disclosure of all significant reconciling items in the reconciliation of total revenues from reportable segments to the entity's consolidated revenues.

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