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v3.23.2

LEASES | 6 Months Ended
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Jun. 30, 2023
LEASES |
LEASES | NOTE F – LEASES ​ The Company has operating lease arrangements for certain facilities and revenue equipment used in the Asset-Based and Asset-Light segment operations and certain other facilities and office equipment. ​ The components of operating lease expense were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Six Months Ended | ​
​ | ​ | June 30 | ​ | June 30 | ​
​ |  | 2023 |  | 2022 |  | 2023 |  | 2022 |
​ | ​ | (in thousands) | ​
Operating lease expense | ​ | $ | 10,048 | ​ | $ | 7,367 | ​ | $ | 19,214 | ​ | $ | 14,450 | ​
Variable lease expense | ​ | ​ | 1,762 | ​ | ​ | 1,068 | ​ | ​ | 3,302 | ​ | ​ | 2,044 | ​
Sublease income | ​ | ​ | (5) | ​ | ​ | (97) | ​ | ​ | (119) | ​ | ​ | (258) | ​
Total operating lease expense(1) | ​ | $ | 11,805 | ​ | $ | 8,338 | ​ | $ | 22,397 | ​ | $ | 16,236 | ​
(1) | Operating lease expense excludes short-term leases with a term of 12 months or less.
​ The operating cash flows from operating lease activity were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Six Months Ended | ​
​ | ​ | June 30 | ​
​ | ​ | 2023 | ​ | 2022 |
​ | ​ | (in thousands) | ​
Noncash change in operating right-of-use assets | ​ | $ | 15,283 | ​ | $ | 12,810 | ​
Change in operating lease liabilities | ​ | ​ | (12,224) | ​ | ​ | (12,696) | ​
Operating right-of-use-assets and lease liabilities, net | ​ | $ | 3,059 | ​ | $ | 114 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash paid for amounts included in the measurement of operating lease liabilities | ​ | $ | (16,158) | ​ | $ | (14,334) | ​
​ Maturities of operating lease liabilities at June 30, 2023, were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Equipment | ​
​ | ​ | ​ | ​ | ​ | Land and | ​ | and | ​
​ |  | Total |  | Structures(1) |  | Other |
​ |  | (in thousands) | ​
Remainder of 2023 | ​ | $ | 19,302 | ​ | $ | 19,106 | ​ | $ | 196 | ​
2024 | ​ |  | 37,430 | ​ |  | 37,113 | ​ |  | 317 | ​
2025 | ​ |  | 33,529 | ​ |  | 33,506 | ​ |  | 23 | ​
2026 | ​ |  | 30,564 | ​ |  | 30,564 | ​ |  | — | ​
2027 | ​ |  | 24,262 | ​ |  | 24,262 | ​ |  | — | ​
Thereafter | ​ |  | 95,941 | ​ |  | 95,941 | ​ |  | — | ​
Total lease payments | ​ | ​ | 241,028 | ​ | ​ | 240,492 | ​ | ​ | 536 | ​
Less imputed interest | ​ | ​ | (35,836) | ​ | ​ | (35,821) | ​ | ​ | (15) | ​
Total | ​ | $ | 205,192 | ​ | $ | 204,671 | ​ | $ | 521 | ​
(1) | Excludes future minimum lease payments for leases which were executed but had not yet commenced as of June 30, 2023, totaling $50.8 million, which will be paid over approximately 10 years.

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent + Details
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