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Segment Reporting
9 Months Ended
Sep. 30, 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 and nine months ended September 30, 2023 and 2022 are as follows:
 Three Months Ended September 30, 2023
 Expedited FreightIntermodalCorporateEliminationsConsolidated
External revenues$351,312 $62,135 $— $— $413,447 
Intersegment revenues34 48 — (82)— 
Depreciation8,372 2,626 — — 10,998 
Amortization1,947 2,561 — — 4,508 
Income (loss) from operations36,351 4,744 (25,602)— 15,493 
Purchases of property and equipment5,822 21 — — 5,843 
 Three Months Ended September 30, 2022
 Expedited FreightIntermodalCorporateEliminationsConsolidated
External revenues$395,607 $114,416 $— $— $510,023 
Intersegment revenues28 — (33)— 
Depreciation6,331 1,782 — — 8,113 
Amortization1,809 2,347 — — 4,156 
Income (loss) from operations56,304 16,610 (1,249)— 71,665 
Purchases of property and equipment6,434 294 — — 6,728 
 Nine Months Ended September 30, 2023
 Expedited FreightIntermodalCorporateEliminationsConsolidated
External revenues$1,028,173 $214,522 $— $— $1,242,695 
Intersegment revenues103 81 — (184)— 
Depreciation23,121 7,056 — — 30,177 
Amortization5,794 7,683 — — 13,477 
Income (loss) from operations100,298 20,259 (24,344)— 96,213 
Purchases of property and equipment22,834 584 — — 23,418 
 Nine Months Ended September 30, 2022
 Expedited FreightIntermodalCorporateEliminationsConsolidated
External revenues$1,180,947 $311,256 $— $— $1,492,203 
Intersegment revenues136 16 — (152)— 
Depreciation18,010 4,766 101 — 22,877 
Amortization5,428 6,689 — — 12,117 
Income (loss) from operations167,091 43,005 (5,535)— 204,561 
Purchases of property and equipment24,155 1,246 — — 25,401 
Total Assets
As of September 30, 2023$811,940 $277,629 $101,082 $(70)$1,190,581 
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 and nine months ended September 30, 2023 and 2022 are as follows:

 Three Months EndedNine Months Ended
 September 30, 2023September 30, 2022September 30, 2023September 30, 2022
Expedited Freight revenues:  
Network$216,977 $240,482 $628,670 $726,054 
Truckload38,800 55,607 120,976 171,659 
Final Mile72,471 76,822 210,388 215,608 
Other23,098 22,724 68,242 67,762 
Total$351,346 $395,635 $1,028,276 $1,181,083