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Acquisitions and Long-Lived Assets (Tables)

9 Months Ended

Sep. 30, 2020

Goodwill [Line Items]

Schedule of Business Acquisitions by Acquisition, Contingent Consideration [Table Text Block]

The initial weighted average assumptions used in the Monte Carlo simulation are summarized in the following table:

			FSA Earn-out
			April 21, 2019						December 31, 2019						September 30, 2020
Risk-free rate			2.9%						2.2%						2.0%
Revenue discount rate			4.4%						4.4%						3.2%
Revenue volatility			3.0%						5.0%						7.0%

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

The following table presents the allocations of the previously discussed acquisition purchase prices to the assets acquired and liabilities assumed based on their estimated fair values and resulting residual goodwill (in thousands):

			FSA			OST			Linn Star
			April 21, 2019			July 14, 2019			January 12, 2020
Tangible assets:
Cash			$	202		$	—		$	1,308
Other receivables			1,491			—			—
Prepaid expenses and other current assets			—			—			1,182
Property and equipment			40			10,371			605
Operating lease right-of-use assets			3,209			1,672			10,011
Total tangible assets			4,942			12,043			13,106
Intangible assets:
Non-compete agreements			900			850			450
Customer relationships			17,900			5,700			29,800
Goodwill			19,963			2,050			25,234
Total intangible assets			38,763			8,600			55,484
Total assets acquired			43,705			20,643			68,590
Liabilities assumed:
Current liabilities			8,466			—			1,340
Other liabilities			5,030			—			—
Debt and finance lease obligations			—			6,971			—
Operating lease obligations			3,209			1,672			10,011
Total liabilities assumed			16,705			8,643			11,351
Net assets acquired			$	27,000		$	12,000		$	57,239

Schedule of Acquired Finite-Lived Intangible Assets by Major Class [Table Text Block]

The acquired definite-lived intangible assets have the following useful lives:

			Useful Lives
			FSA			OST			Linn Star
Non-compete agreements			5 years			3 years			1 year
Customer relationships			15 years			10 years			15 years

Schedule of Goodwill [Table Text Block]

The following is a summary of the Company's goodwill as of September 30, 2020. Approximately $161,789 of goodwill is deductible for tax purposes.

			Beginning balance, December 31, 2019						Linn Star Acquisition						Ending balance, September 30, 2020
Expedited LTL
Goodwill			$	97,593					$	—					$	97,593
Accumulated Impairment			—						—						—
Truckload
Goodwill			45,164						—						45,164
Accumulated Impairment			(25,686)						—						(25,686)
Final Mile
Goodwill			19,963						25,234						45,197
Accumulated Impairment			—						—						—
Intermodal
Goodwill			78,665						—						78,665
Accumulated Impairment			—						—						—
Total
Goodwill			241,385						25,234						266,619
Accumulated Impairment			(25,686)						—						(25,686)
			$	215,699					$	25,234					$	240,933

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