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Discontinued Operation and Held for Sale (Tables) | 12 Months Ended
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Dec. 31, 2021
Discontinued Operations and Disposal Groups [Abstract] |
Weighted Average Assumptions | The weighted average assumptions under the Monte Carlo simulation model were as follows:
| February 12, 2021
Counterparty credit spread | 1.2%
Earnings before interest, taxes, depreciation and amortization discount rate | 15.0%
Asset volatility | 55.0%
Summarized Held for Sale and Discontinued Operations Financial Information | A summary of the carrying amounts of major classes of assets and liabilities, which are included in assets and liabilities held for sale in the Consolidated Balance Sheets, is as follows:
|  | December 31, 2020
Assets |  |
Current assets: |  |
Accounts receivable, less allowance of $86 in 2020 |  | $ | 19,740 |
Other current assets |  | 1,262 |
Total current assets held for sale |  | $ | 21,002 |
Property and equipment |  | $ | 48,905 |
Less accumulated depreciation and amortization |  | 28,890 |
Net property and equipment |  | 20,015 |
Operating lease right-of-use assets |  | 46,865 |
Other acquired intangibles, net of accumulated amortization of $12,679 in 2020 |  | 2,621 |
Deferred income taxes |  | 3,253 |
Other assets |  | 3,321 |
Valuation allowance on assets held for sale |  | (22,978) |
Total noncurrent assets held for sale |  | $ | 53,097 |
Liabilities |  |
Current liabilities: |  |
Accounts payable |  | $ | 4,002 |
Accrued expenses |  | 5,070 |
Other current liabilities |  | 27 |
Current portion of operating lease liabilities |  | 16,825 |
Total current liabilities held for sale |  | $ | 25,924 |
Operating lease liabilities, less current portion |  | $ | 30,024 |
Other long-term liabilities |  | 4,551 |
Total noncurrent liabilities held for sale |  | $ | 34,575 |
A summary of the results of operations classified as a discontinued operation, net of tax, in the Consolidated Statements of Comprehensive Income for the years ended December 31, 2021, 2020 and 2019 is as follows:
| Year Ended |  |
| December 31, 2021 |  |  |  | December 31, 2020 |  | December 31, 2019 |  |
Operating revenue | $ | 17,776 |  |  |  |  | $ | 141,433 |  |  | $ | 195,208 |  |  |
Operating expenses: |  |  |  |  |  |  |  |  |
Purchased transportation | 3,381 |  |  |  |  | 33,979 |  |  | 52,867 |  |  |
Salaries, wages and employee benefits | 9,458 |  |  |  |  | 65,695 |  |  | 77,162 |  |  |
Operating leases | 2,289 |  |  |  |  | 21,982 |  |  | 18,918 |  |  |
Depreciation and amortization | — |  |  |  |  | 1,657 |  |  | 5,715 |  |  |
Insurance and claims | 929 |  |  |  |  | 6,205 |  |  | 6,707 |  |  |
Fuel expense | 508 |  |  |  |  | 4,279 |  |  | 6,462 |  |  |
Other operating expenses | 1,627 |  |  |  |  | 17,587 |  |  | 20,969 |  |  |
Impairment charge | 6,967 |  |  |  |  | 28,384 |  |  | — |  |  |
Total operating expenses | 25,159 |  |  |  |  | 179,768 |  |  | 188,800 |  |  |
(Loss) income from discontinued operation | (7,383) |  |  |  |  | (38,335) |  |  | 6,408 |  |  |
Loss on sale of business | (2,860) |  |  |  |  | — |  |  | — |  |  |
(Loss) income from discontinued operation before income taxes | (10,243) |  |  |  |  | (38,335) |  |  | 6,408 |  |  |
Income tax (benefit) expense | (11) |  |  |  |  | (9,301) |  |  | 1,631 |  |  |
(Loss) income from discontinued operation, net of tax | $ | (10,232) |  |  |  |  | $ | (29,034) |  |  | $ | 4,777 |  |  |

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