XML 30 R19.htm IDEA: XBRL DOCUMENT
v3.22.2

Segment Reporting | 6 Months Ended
--- | ---
Jun. 30, 2022
Segment Reporting [Abstract] |
Segment Reporting | Segment Reporting The Company has two reportable segments: Expedited Freight and Intermodal. The Company evaluates segment performance based on income from operations. Segment results include intersegment revenues and shared costs. Costs related to the corporate headquarters, shared services and shared assets, such as trailers, are allocated to each segment based on usage. Shared assets are not allocated to each segment, but rather the shared assets, such as trailers, are allocated to the Expedited Freight segment. Corporate includes revenues and expenses as well as assets that are not attributable to any of the Company’s reportable segments. The accounting policies applied to each segment are the same as those described in the Summary of Significant Accounting Policies as disclosed in Note 1 to the Annual Report on Form 10-K for the year ended December 31, 2021, except for certain self-insurance loss reserves related to vehicle liability and workers’ compensation. Each segment is allocated an insurance premium and deductible that corresponds to the self-insured retention limit for that particular segment. Any self-insurance loss exposure beyond the deductible allocated to each segment is recorded in Corporate. Segment results from operations for the three and six months ended June 30, 2022 and 2021 are as follows:
|  | Three Months Ended June 30, 2022
|  | Expedited Freight |  | Intermodal |  |  |  | Corporate |  | Eliminations |  | Consolidated - Continuing Operations
External revenues |  | $ | 408,814 |  |  | $ | 106,405 |  |  |  |  | $ | — |  |  | $ | — |  |  | $ | 515,219 |
Intersegment revenues |  | 43 |  |  | 6 |  |  |  |  | — |  |  | (49) |  |  | — |
Depreciation |  | 6,007 |  |  | 1,644 |  |  |  |  | 62 |  |  | — |  |  | 7,713 |
Amortization |  | 1,810 |  |  | 2,072 |  |  |  |  | — |  |  | — |  |  | 3,882 |
Income (loss) from continuing operations |  | 63,107 |  |  | 15,249 |  |  |  |  | (2,811) |  |  | — |  |  | 75,545 |
Purchases of property and equipment |  | 8,765 |  |  | — |  |  |  |  | — |  |  | — |  |  | 8,765 |
|  | Three Months Ended June 30, 2021
|  | Expedited Freight |  | Intermodal |  |  |  | Corporate |  | Eliminations |  | Consolidated - Continuing Operations
External revenues |  | $ | 351,551 |  |  | $ | 69,120 |  |  |  |  | $ | — |  |  | $ | — |  |  | $ | 420,671 |
Intersegment revenues |  | 184 |  |  | 13 |  |  |  |  | — |  |  | (197) |  |  | — |
Depreciation |  | 4,989 |  |  | 835 |  |  |  |  | 23 |  |  | — |  |  | 5,847 |
Amortization |  | 1,790 |  |  | 1,777 |  |  |  |  | — |  |  | — |  |  | 3,567 |
Income (loss) from continuing operations |  | 34,688 |  |  | 8,386 |  |  |  |  | (950) |  |  | — |  |  | 42,124 |
Purchases of property and equipment |  | 5,724 |  |  | 156 |  |  |  |  | — |  |  | — |  |  | 5,880 |
|  | Six Months Ended June 30, 2022
|  | Expedited Freight |  | Intermodal |  |  |  | Corporate |  | Eliminations |  | Consolidated - Continuing Operations
External revenues |  | $ | 785,340 |  |  | $ | 196,840 |  |  |  |  | $ | — |  |  | $ | — |  |  | $ | 982,180 |
Intersegment revenues |  | 108 |  |  | 11 |  |  |  |  | — |  |  | (119) |  |  | — |
Depreciation |  | 11,679 |  |  | 2,984 |  |  |  |  | 101 |  |  | — |  |  | 14,764 |
Amortization |  | 3,619 |  |  | 4,342 |  |  |  |  | — |  |  | — |  |  | 7,961 |
Income (loss) from continuing operations |  | 110,787 |  |  | 26,395 |  |  |  |  | (4,286) |  |  | — |  |  | 132,896 |
Purchases of property and equipment |  | 17,721 |  |  | 952 |  |  |  |  | — |  |  | — |  |  | 18,673 |
|  | Six Months Ended June 30, 2021
|  | Expedited Freight |  | Intermodal |  |  |  | Corporate |  | Eliminations |  | Consolidated - Continuing Operations
External revenues |  | $ | 655,308 |  |  | $ | 127,622 |  |  |  |  | $ | — |  |  | $ | — |  |  | $ | 782,930 |
Intersegment revenues |  | 613 |  |  | 25 |  |  |  |  | — |  |  | (695) |  |  | (57) |
Depreciation |  | 9,982 |  |  | 1,634 |  |  |  |  | 26 |  |  | — |  |  | 11,642 |
Amortization |  | 3,595 |  |  | 3,414 |  |  |  |  | — |  |  | — |  |  | 7,009 |
Income (loss) from continuing operations |  | 59,218 |  |  | 12,895 |  |  |  |  | (7,265) |  |  | — |  |  | 64,848 |
Purchases of property and equipment |  | 8,136 |  |  | 439 |  |  |  |  | — |  |  | — |  |  | 8,575 |
|  | Expedited Freight |  | Intermodal |  |  |  | Corporate |  | Eliminations |  | Consolidated - Continuing Operations
Total Assets |  |  |  |  |  |  |  |  |  |  |  |
As of June 30, 2022 |  | $ | 798,352 |  |  | $ | 300,035 |  |  |  |  | $ | 98,764 |  |  | $ | (8) |  |  | $ | 1,197,143 |
As of December 31, 2021 |  | 777,987 |  |  | 249,467 |  |  |  |  | 90,588 |  |  | (219) |  |  | 1,117,823 |
A reconciliation from the segment information to the consolidated balances for revenues is set forth below:
|  | Three Months Ended |  | Six Months Ended
|  | June 30, 2022 |  | June 30, 2021 |  | June 30, 2022 |  | June 30, 2021
Intersegment revenues - continuing operations |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (57) |
Intersegment revenues - discontinued operation |  | — |  |  | — |  |  | — |  |  | 57 |
Consolidated intersegment revenues |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Revenue from the individual services within the Expedited Freight segment for the three and six months ended June 30, 2022 and 2021 are as follows:
|  | Three Months Ended |  | Six Months Ended
|  | June 30, 2022 |  | June 30, 2021 |  | June 30, 2022 |  | June 30, 2021
Expedited Freight revenues: |  |  |  |  |  |  |  |
Network |  | $ | 263,425 |  |  | $ | 210,088 |  |  | $ | 506,839 |  |  | $ | 388,715 |
Truckload |  | 60,144 |  |  | 56,968 |  |  | 116,052 |  |  | 109,348 |
Final Mile |  | 73,028 |  |  | 69,883 |  |  | 138,786 |  |  | 132,139 |
Other |  | 12,260 |  |  | 14,796 |  |  | 23,771 |  |  | 25,719 |
Total |  | $ | 408,857 |  |  | $ | 351,735 |  |  | $ | 785,448 |  |  | $ | 655,921 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration