XML 37 R19.htm IDEA: XBRL DOCUMENT
v3.25.1

Segment Reporting | 12 Months Ended
--- | ---
Dec. 31, 2024
Segment Reporting [Abstract] |
Segment Reporting | Segment Reporting Our chief operating decision-maker, who is our Chief Executive Officer, analyzes the results of our business through the following reportable segments: Expedited Freight, Omni, and Intermodal. Our chief operating decision-maker evaluates the operating results and performance of our segments through segment profit. These financial metrics are used to view operating trends, perform analytical comparisons and benchmark performance between periods and to monitor budget-to-actual variances on a monthly basis. To manage operations and make decisions regarding resource allocations, our chief operating decision-maker is regularly provided and reviews expense information necessary to make decisions to meet customer demand for our services. The accounting policies applied to each segment are the same as those in Note 1, Operations and Summary of Significant Accounting Policies, 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. No single customer accounted for more than 10% of the Company’s consolidated revenues from continuing operations for the years ended December 31, 2024, 2023 and 2022.
Year Ended December 31, 2024 |  | Expedited Freight |  | Omni Logistics |  | Intermodal |  | Corporate |  | Consolidated
External revenues |  | $ | 1,044,938 |  |  | $ | 1,196,841 |  |  | $ | 232,319 |  |  | $ | 164 |  |  | $ | 2,474,262 |
Intersegment revenues |  | 70,225 |  |  | — |  |  | 513 |  |  | — |  |  | 70,738 |
|  | 1,115,163 |  |  | 1,196,841 |  |  | 232,832 |  |  | 164 |  |  | 2,545,000 |
Reconciliation of revenue |  |  |  |  |  |  |  |  |  |
Elimination of intersegmental revenues |  |  |  |  |  |  |  |  |  | (70,738) |
Total consolidated revenues |  |  |  |  |  |  |  |  |  | $ | 2,474,262 |
Less: |  |  |  |  |  |  |  |  |  |
Purchase transportation |  | 546,458 |  |  | 701,035 |  |  | 73,814 |  |  | — |  |  |
Salaries, wages and employee benefits |  | 242,411 |  |  | 215,518 |  |  | 58,714 |  |  | 19,764 |  |  |
Operating leases |  | 63,398 |  |  | 96,500 |  |  | 21,599 |  |  | 699 |  |  |
Depreciation and amortization |  | 41,858 |  |  | 83,542 |  |  | 18,440 |  |  | 139 |  |  |
Insurance and claims |  | 43,716 |  |  | 12,297 |  |  | 10,251 |  |  | (1,582) |  |  |
Fuel expense |  | 9,733 |  |  | 3,149 |  |  | 8,578 |  |  | — |  |  |
Other operating expenses |  | 99,638 |  |  | 101,206 |  |  | 22,511 |  |  | 86,153 |  |  |
Impairment of goodwill |  | — |  |  | 1,028,397 |  |  | — |  |  | — |  |  |
Segment profit (loss) |  | 67,951 |  |  | (1,044,803) |  |  | 18,925 |  |  | (105,009) |  |  | (1,062,936) |
Reconciliation of segment profit or loss |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  |  |  |  |  |  |  |  | 189,215 |
Foreign exchange loss (gain) |  |  |  |  |  |  |  |  |  | (1,093) |
Other operations |  |  |  |  |  |  |  |  |  | (1,226) |
Loss before income taxes |  |  |  |  |  |  |  |  |  | $ | (1,249,832) |
Year Ended December 31, 2023 |  | Expedited Freight |  |  |  | Intermodal |  | Corporate |  | Consolidated
External revenues |  | $ | 1,096,810 |  |  |  |  | $ | 273,925 |  |  | $ | — |  |  | $ | 1,370,735 |
Intersegment revenues |  | 148 |  |  |  |  | 118 |  |  | — |  |  | 266 |
|  | 1,096,958 |  |  |  |  | 274,043 |  |  | — |  |  | 1,371,001 |
Reconciliation of revenue |  |  |  |  |  |  |  |  |  |
Elimination of intersegmental revenues |  |  |  |  |  |  |  |  |  | (266) |
Total consolidated revenues |  |  |  |  |  |  |  |  |  | $ | 1,370,735 |
Less: |  |  |  |  |  |  |  |  |  |
Purchase transportation |  | 511,254 |  |  |  |  | 74,941 |  |  | — |  |  |
Salaries, wages and employee benefits |  | 226,528 |  |  |  |  | 66,925 |  |  | (5,621) |  |  |
Operating leases |  | 61,728 |  |  |  |  | 25,685 |  |  | — |  |  |
Depreciation and amortization |  | 37,414 |  |  |  |  | 19,991 |  |  | — |  |  |
Insurance and claims |  | 38,294 |  |  |  |  | 10,320 |  |  | 1,519 |  |  |
Fuel expense |  | 10,884 |  |  |  |  | 11,121 |  |  | — |  |  |
Other operating expenses |  | 94,545 |  |  |  |  | 39,733 |  |  | 57,530 |  |  |
Segment profit (loss) |  | 116,311 |  |  |  |  | 25,327 |  |  | (53,428) |  |  | 88,210 |
Reconciliation of segment profit or loss |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  |  |  |  |  |  |  |  | (31,571) |
Foreign exchange loss (gain) |  |  |  |  |  |  |  |  |  | — |
Other operations |  |  |  |  |  |  |  |  |  | — |
Income before income taxes |  |  |  |  |  |  |  |  |  | $ | 56,639 |
Year Ended December 31, 2022 |  | Expedited Freight |  |  |  | Intermodal |  | Corporate |  | Consolidated
External revenues |  | $ | 1,259,936 |  |  |  |  | $ | 419,698 |  |  | $ | — |  |  | $ | 1,679,634 |
Intersegment revenues |  | 185 |  |  |  |  | 20 |  |  | — |  |  | 205 |
|  | 1,260,121 |  |  |  |  | 419,718 |  |  | — |  |  | 1,679,839 |
Reconciliation of revenue |  |  |  |  |  |  |  |  |  |
Elimination of intersegmental revenues |  |  |  |  |  |  |  |  |  | (205) |
Total consolidated revenues |  |  |  |  |  |  |  |  |  | 1,679,839 |
|  |  |  |  |  |  |  |  |  | $ | 1,679,634 |
Less: |  |  |  |  |  |  |  |  |  |
Purchase transportation |  | 624,994 |  |  |  |  | 105,656 |  |  | 34 |  |  |
Salaries, wages and employee benefits |  | 233,876 |  |  |  |  | 73,406 |  |  | 4,523 |  |  |
Operating leases |  | 53,339 |  |  |  |  | 31,950 |  |  | (1) |  |  |
Depreciation and amortization |  | 27,058 |  |  |  |  | 15,393 |  |  | (101) |  |  |
Insurance and claims |  | 33,924 |  |  |  |  | 9,087 |  |  | (4,468) |  |  |
Fuel expense |  | 10,962 |  |  |  |  | 15,993 |  |  | — |  |  |
Other operating expenses |  | 83,385 |  |  |  |  | 111,359 |  |  | (1,853) |  |  |
Segment profit (loss) |  | 192,583 |  |  |  |  | 56,874 |  |  | (1,866) |  |  | 247,591 |
Reconciliation of segment profit or loss |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  |  |  |  |  |  |  |  | (5,138) |
Foreign exchange loss (gain) |  |  |  |  |  |  |  |  |  | — |
Other operations |  |  |  |  |  |  |  |  |  | — |
Income before income taxes |  |  |  |  |  |  |  |  |  | $ | 242,453 |
Revenue from the individual services within the Expedited Freight segment for the years ended December 31, 2024, 2023 and 2022 were as follows:
|  | Year Ended
|  | December 31, 2024 |  | December 31, 2023 |  | December 31, 2022 |  |
Expedited Freight revenues: |  |  |  |  |  |  |  |
Network |  | $ | 854,138 |  |  | $ | 845,949 |  |  | $ | 947,817 |  |  |
Truckload |  | 170,455 |  |  | 159,513 |  |  | 221,979 |  |  |
Other |  | 90,570 |  |  | 91,496 |  |  | 90,325 |  |  |
Total |  | $ | 1,115,163 |  |  | $ | 1,096,958 |  |  | $ | 1,260,121 |  |  |
Assets from each segment for the years ended December 31, 2024, 2023 were as follows:
|  | December 31, 2024 |  | December 31, 2023
Expedited Freight |  | $ | 691,369 |  |  | $ | 661,270 |
Omni Logistics |  | 1,726,088 |  |  | — |
Intermodal |  | 257,323 |  |  | 270,421 |
Corporate |  | 127,861 |  |  | 2,047,901 |
Eliminations |  | — |  |  | (59) |
Consolidated total assets |  | $ | 2,802,641 |  |  | $ | 2,979,533 |

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/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (ee) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 6: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 8: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 9: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 10: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 11: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-34 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-15 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-42 Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-40 Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/280/tableOfContent Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26 Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration