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Segment Reporting
3 Months Ended
Mar. 31, 2023
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, 2022, 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 months ended March 31, 2023 and 2022 are as follows:
 Three Months Ended March 31, 2023
 Expedited FreightIntermodalCorporateEliminationsConsolidated
External revenues$338,904 $88,162 $— $— $427,066 
Intersegment revenues30 — (37)— 
Depreciation6,988 2,186 — — 9,174 
Amortization1,901 2,560 — — 4,461 
Income from operations32,998 11,203 6,308 — 50,509 
Purchases of property and equipment6,613 176 — — 6,789 
 Three Months Ended March 31, 2022
 Expedited FreightIntermodalCorporateEliminationsConsolidated
External revenues$376,526 $90,435 $— $— $466,961 
Intersegment revenues65 — (70)— 
Depreciation5,673 1,340 39 — 7,052 
Amortization1,808 2,270 — — 4,078 
Income (loss) from operations47,680 11,146 (1,475)— 57,351 
Purchases of property and equipment8,956 952 — — 9,908 
Total Assets
As of March 31, 2023$750,838 $296,624 $179,178 $(74)$1,226,566 
As of December 31, 2022683,386 322,001 202,756 (67)1,208,076 

Revenue from the individual services within the Expedited Freight segment for the three months ended March 31, 2023 and 2022 are as follows:

 Three Months Ended
 March 31,
2023
March 31,
2022
Expedited Freight revenues: 
Network$205,931 $233,700 
Truckload41,744 55,908 
Final Mile69,357 65,758 
Other21,902 21,225 
Total$338,934 $376,591