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Acquisitions, Goodwill, Intangible Assets and Other Long-Lived Assets (Tables)

12 Months Ended

Dec. 31, 2020

Intangible Assets [Line Items]

Schedule of Intangible Assets

The Company amortizes certain acquired identifiable intangible assets on a straight-line basis over their estimated useful lives, which range from 1 to 20 years. The acquired intangible assets have a weighted-average useful life as follows:

Intangible Assets						Weighted-Average Useful Life
Customer relationships						15 years
Non-compete agreements						4 years
Trade names						4 years

Changes in Carrying Amount of Acquired Intangible Assets

Changes in the carrying amount of acquired intangible assets during 2020 and 2019 are summarized as follows:

			December 31, 2020																		December 31, 2019
			Carrying Value						Accumulated Amortization						Net Carrying Value						Carrying Value						Accumulated Amortization						Net Carrying Value
Customer relationships1			$	228,416					$	(85,930)					$	142,486					$	196,225					$	(73,868)					$	122,357
Non-compete agreements			8,125						(5,579)						2,546						6,652						(4,152)						2,500
Trade names			1,500						(1,500)						—						1,500						(1,500)						—
Total			$	238,041					$	(93,009)					$	145,032					$	204,377					$	(79,520)					$	124,857

1 Carrying value as of December 31, 2020 and 2019 is inclusive of $16,501 of accumulated impairment.

Business Acquisition [Line Items]

Weighted-Average Assumptions

The weighted-average assumptions under the Monte Carlo simulation model were as follows for the year ended December 31, 2020 and 2019:

						FSA Earn-Out
						December 31, 2020			December 31, 2019
Risk-free rate						1.4%			2.2%
Revenue discount rate						3.2%			4.4%
Revenue volatility						8.0%			5.0%

Purchase Price Allocation

Assets acquired and liabilities assumed as of the acquisition date are presented in the following table:

									MMT						Southwest						FSA						O.S.T.						Linn Star						CLW
									July 25, 2018						October 28, 2018						April 21, 2019						July 14, 2019						January 12, 2020						October 11, 2020
Tangible assets:
Cash									$	—					$	—					$	202					$	—					$	1,308					$	—
Other receivables									—						—						1,491						—						—						—
Prepaid expenses and other current assets																					—						—						1,182						—
Property and equipment									81						933						40						10,371						605						—
Right-of-use lease assets									—						—						3,209						1,672						10,011						811
Total tangible assets									81						933						4,942						12,043						13,106						811
Intangible assets:
Non-compete agreements									43						650						900						850						450						1,000
Customer relationships									1,659						9,200						17,900						5,700						29,800						1,500
Goodwill									1,954						5,467						19,963						2,050						25,234						3,000
Total intangible assets									3,656						15,317						38,763						8,600						55,484						5,500
Total assets acquired									3,737						16,250						43,705						20,643						68,590						6,311
Liabilities assumed:
Current liabilities									—						—						8,466						—						1,340						—
Other liabilities									—						—						5,030						—						—						—
Operating lease liabilities									—						—						3,209						1,672						10,011						811
Finance lease obligations									—						—						—						6,971						—						—
Total liabilities assumed									—						—						16,705						8,643						11,351						—
Net assets acquired									$	3,737					$	16,250					$	27,000					$	12,000					$	57,239					$	5,500

Weighted-Average Useful Life of Acquired Intangible Assets

The weighted-average useful life of acquired intangible assets as of the acquisition date are summarized in the following table:

FSA

O.S.T.

Linn Star

CLW

Customer relationships

15 years

10 years

15 years

7 years

Non-compete agreements

5 years

3 years

1 year

5 years

Goodwill [Line Items]

Schedule of Goodwill

Changes in the carrying amount of goodwill during the years ended December 31, 2020 and 2019 are summarized as follows:

			Expedited Freight						Intermodal						Consolidated
Balance as of December 31, 2018			$	117,071					$	76,615					$	193,686
Acquisitions			19,963						2,050						22,013
Balance as of December 31, 2019			137,034						78,665						215,699
Acquisitions			28,234						1,049						29,283
Balance as of December 31, 2020			$	165,268					$	79,714					$	244,982

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