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Segment Reporting
6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
The Company has three reportable segments: Expedited Freight, Intermodal and Omni Logistics. 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, 2023, 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, 2024 and 2023 are as follows:

 Three Months Ended June 30, 2024
 Expedited FreightIntermodalOmni LogisticsCorporateEliminationsConsolidated
External revenues$272,600 $59,210 $311,856 $— $643,666 
Intersegment revenues18,682 89 — — (18,771)— 
Depreciation9,240 2,148 3,521 — — 14,909 
Amortization1,452 2,564 29,714 — — 33,730 
Income (loss) from operations21,946 5,317 (1,105,871)(17,147)— (1,095,755)
Purchases of property and equipment7,663 28 6,735 — — 14,426 
 Three Months Ended June 30, 2023
 Expedited FreightIntermodalOmni LogisticsCorporateEliminationsConsolidated
External revenues$269,397 $64,225 $— $— $— $333,622 
Intersegment revenues39 26 — — (65)— 
Depreciation7,436 2,245 — — — 9,681 
Amortization1,003 2,561 — — — 3,564 
Income (loss) from operations27,063 4,312 — (5,050)— 26,325 
Purchases of property and equipment9,930 387 — — — 10,317 

Revenue from the individual services within the Expedited Freight segment for the three and six months ended June 30, 2024 and 2023 are as follows:

 Three Months EndedSix Months Ended
 June 30, 2024June 30, 2023June 30, 2024June 30, 2023
Expedited Freight revenues:  
Network$223,334 $205,762 $437,827 $411,693 
Truckload44,678 40,432 81,732 82,176 
Other23,270 23,242 45,018 45,144 
Total$291,282 $269,436 $564,577 $539,013 
 Six Months Ended June 30, 2024
 Expedited FreightIntermodalOmni LogisticsCorporateEliminationsConsolidated
External revenues$533,353 $115,432 $536,694 $— $1,185,479 
Intersegment revenues31,224 159 — — (31,383)— 
Depreciation18,253 4,215 6,119 28,587 
Amortization2,729 5,124 43,985 51,838 
Income (loss) from operations41,444 8,903 (1,134,456)(77,378)— (1,161,487)
Purchases of property and equipment8,925 1,550 8,921 — — 19,396 
 Six Months Ended June 30, 2023
 Expedited FreightIntermodalOmni LogisticsCorporateEliminationsConsolidated
External revenues$538,944 $152,387 $— $— $— $691,331 
Intersegment revenues69 33 — — (102)— 
Depreciation14,105 4,430 — — — 18,535 
Amortization1,960 5,122 — — — 7,082 
Income (loss) from operations56,748 15,515 — 1,258 — 73,521 
Purchases of property and equipment16,273 563 — — — 16,836 
Total Assets
As of June 30, 2024$657,434 $261,170 $1,959,593 $189,133 $(14)$3,067,316 
As of December 31, 2023661,270 270,421 — 2,047,901 (59)2,979,533