XML 13 R2.htm IDEA: XBRL DOCUMENT
v3.24.1

Pay vs Performance Disclosure - USD ($) | 12 Months Ended
--- | ---
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020
Pay vs Performance Disclosure [Line Items] |  |  |  |
Pay vs Performance [Table Text Block] | The following is a tabular presentation of pay vs performance presenting certain information regarding the compensation earned by the Chief Executive Officer (our Principal Executive Officer (or "PEO")) and the Named Executive Officers (or "NEO's"), and comparing such information to a "total shareholder return" (or "TSR") measure.
Year | Summary Compensation Table Total for PEO(1) ($) | Compensation Actually Paid to PEO(2) ($) | Average Summary Compensation Table Total Non-PEO NEO's(3) ($) | Average Compensation Actually Paid to Non-PEO NEO's(4) ($) | Value of Initial Fixed $100 Investment Based On: | Net Income (in millions)(7)($) | Operating Ratio(8) (%)
TSR(5) ($) | Peer Group TSR(6) ($)
2023 | 1,012,483 | 1,012,483 | 408,884 | 409,249 | 71.11 | 152.09 | 14.8 | 96.5%
2022 | 839,665 | 839,665 | 340,087 | 342,053 | 76.09 | 138.87 | 133.6 | 80.5%
2021 | 797,900 | 797,900 | 254,162 | 252,011 | 82.99 | 155.32 | 79.3 | 82.6%
2020 | 820,753 | 820,753 | 301,232 | 297,315 | 86.34 | 112.49 | 70.8 | 85.5%
(1) | Reflects compensation amounts reported in the Summary Compensation Table (the “SCT”) for our PEO, Michael J. Gerdin, for the respective years shown.
(2) | For 2023, 2022, 2021, and 2020, the only compensation received by Mr. Gerdin was reported in the “Salary” and “All Other Compensation” columns of the SCT and Mr. Gerdin does not receive any stock awards from the Company. Therefore, no adjustments were made to determine the compensation actually paid to Mr. Gerdin.
(3) | The following non-PEO named executive officers are included in the average figures shown:
| 2023: Christopher A. Strain, Kent D. Rigdon, David P. Millis, Todd A. Smith and Michael P. Donovan.
| 2022: Christopher A. Strain, Kent D. Rigdon, David P. Millis and Todd A. Smith.
| 2021: Christopher A. Strain, Kent D. Rigdon, David P. Millis and Jo A. Borden.
| 2020: Christopher A. Strain, Kent D. Rigdon, David P. Millis and Jo A. Borden.
(4) | To calculate the compensation actually paid for our non-PEO NEOs, the following adjustments were made to SCT total compensation, calculated in accordance with the SEC methodology for determining compensation actually paid for each year shown:
| Year | Average Summary Compensation Table Total for Non-PEO NEOs ($) | Deduct Stock and Option Awards Reported in the Summary Compensation Table ($) | Add YE Fair Value of Awards Granted During the Covered FY that are Outstanding and Unvested as of the End of the Covered FY ($) | Add Change in Fair Value as of the End of the Covered FY for Awards Granted in a Prior FY that are Outstanding and Unvested as of the Covered FY ($) | Add Vesting-Date Fair Value of Awards Granted During the Covered FY that Vested During the Covered FY ($) | Add Change in Fair Value as of the Vesting Date for Awards Granted in a Prior FY that Vested During the Covered FY ($) | Average Compensation Actually Paid to Non-PEO NEOs ($)
| 2023 | 408,884 | (22,967) | 10,712 | (2,160) | 12,721 | 2,059 | 409,249
| 2022 | 340,087 | (51,039) | 12,886 | — | 40,119 | — | 342,053
| 2021 | 254,162 | (2,511) | — | (320) | 2,511 | (1,831) | 252,011
| 2020 | 301,232 | (55,341) | 22,625 | (2,397) | 31,179 | 17 | 297,315
(5) | The total shareholder returns assumes that $100 was invested on December 31, 2019 in the Company and that dividends were reinvested when and as paid.
(6) | The Peer Group TSR assumes that $100 was invested on December 31, 2019 in the Peer Group made up of the six companies listed in the Compensation Discussion and Analysis section of this proxy statement (Covenant Logistics Group, Inc., Knight-Swift Transportation Holdings Inc., Marten Transport, Ltd., P.A.M Transportation Services, Inc., Schneider National, Inc., and Werner Enterprises, Inc.) and that dividends were reinvested when and as paid. In 2022, we used a peer group consisting of Covenant Logistics Group, Inc., Knight-Swift Transportation Holdings Inc., Marten Transport, Ltd., P.A.M Transportation Services, Inc., U.S. Xpress Enterprises, Inc., and Werner Enterprises, Inc. (collectively, the “Former Peer Group”). We substituted Schneider National, Inc. for U.S. Xpress Enterprises, Inc. because U.S. Xpress Enterprises, Inc. was acquired by Knight-Swift Transportation Holdings Inc. in July 2023 and is therefore no longer a public company. The TSR for the Former Peer Group was $115.69 for 2020, $160.35 for 2021, and $142.26 for 2022. It is impracticable to calculate the TSR for the Former Peer Group for 2023 as information regarding U.S. Xpress Enterprises, Inc. for 2023 is not available as it is no longer a public company.
(7) | Reflects Net Income in the Company’s Consolidated Statements of Comprehensive Income included in the Company’s Annual Reports on Form 10-K for each of the years ended December 31, 2023, 2022, 2021, and 2020.
(8) | Our company-selected measure is Operating Ratio, which is described below.
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | (4) To calculate the compensation actually paid for our non-PEO NEOs, the following adjustments were made to SCT total compensation, calculated in accordance with the SEC methodology for determining compensation actually paid for each year shown:
| Year | Average Summary Compensation Table Total for Non-PEO NEOs ($) | Deduct Stock and Option Awards Reported in the Summary Compensation Table ($) | Add YE Fair Value of Awards Granted During the Covered FY that are Outstanding and Unvested as of the End of the Covered FY ($) | Add Change in Fair Value as of the End of the Covered FY for Awards Granted in a Prior FY that are Outstanding and Unvested as of the Covered FY ($) | Add Vesting-Date Fair Value of Awards Granted During the Covered FY that Vested During the Covered FY ($) | Add Change in Fair Value as of the Vesting Date for Awards Granted in a Prior FY that Vested During the Covered FY ($) | Average Compensation Actually Paid to Non-PEO NEOs ($)
| 2023 | 408,884 | (22,967) | 10,712 | (2,160) | 12,721 | 2,059 | 409,249
| 2022 | 340,087 | (51,039) | 12,886 | — | 40,119 | — | 342,053
| 2021 | 254,162 | (2,511) | — | (320) | 2,511 | (1,831) | 252,011
| 2020 | 301,232 | (55,341) | 22,625 | (2,397) | 31,179 | 17 | 297,315
Compensation Actually Paid vs. Total Shareholder Return [Text Block] | The relationship between the compensation actually paid to the PEO and the average compensation actually paid to the non-PEO NEOs and the cumulative total shareholder return of the Company and the Peer Group for 2023, 2022, 2021, and 2020 is represented by the graph below: |  |  |
Compensation Actually Paid vs. Net Income [Text Block] | The relationship between the compensation actually paid to the PEO and the average compensation actually paid to the non-PEO NEOs and the Company’s net income for 2023, 2022, 2021, and 2020 is represented by the graph below: |  |  |
Compensation Actually Paid vs. Operating Ratio [Text Block] | The relationship between the compensation actually paid to the PEO and the average compensation actually paid to the non-PEO NEOs and the Company’s Operating Ratio for 2023, 2022, 2021, and 2020 is represented by the graph below: |  |  |
Tabular List [Text Block] | Tabular Disclosure of the Most Important Measures to Link Compensation Actually Paid for 2023 to Company Performance The following three financial metrics were the most important measures used to link compensation actually paid for 2023 to Company Performance. Please see the Compensation Discussion and Analysis section for a further description of the metrics used in the Company's executive compensation program.
Total Shareholder Return - Key metric in determining salary and equity awards. This metric, which compares Company TSR to the TSR of comparable publicly traded peers operating in the transportation industry. The Compensation Committee utilizes this metric for decisions on base salary and equity awards as discussed in the “Compensation Discussion and Analysis.
Net Income - Key metric in determining salary and equity awards.
Operating Ratio - Key metric in determining salary and equity awards and is defined as operating expenses as a percentage of operating revenues. The Compensation Committee believes that this metric represents the overall operating effectiveness of the Company, as compared to other publicly traded trucking companies, and is an important measure to be considered when making decisions on salary and equity awards.
PEO Total Compensation Amount | $ 1,012,483 | $ 839,665 | $ 797,900 | $ 820,753
PEO Actually Paid Compensation Amount | 1,012,483 | 839,665 | 797,900 | 820,753
Total Shareholder Return Amount | 71.11 | 76.09 | 82.99 | 86.34
Peer Group Total Shareholder Return Amount | 152.09 | 138.87 | 155.32 | 112.49
Net Income | $ 14,800,000 | $ 133,600,000 | $ 79,300,000 | $ 70,800,000
Company Selected Measure Amount | 96.50% | 80.50% | 82.60% | 85.50%
Non-PEO NEO Average Total Compensation Amount | $ 408,884 | $ 340,087 | $ 254,162 | $ 301,232
Non-PEO NEO Average Compensation Actually Paid Amount | $ 409,249 | 342,053 | 252,011 | 297,315
Named Executive Officers, Footnote [Text Block] |
The following non-PEO named executive officers are included in the average figures shown:
2023: Christopher A. Strain, Kent D. Rigdon, David P. Millis, Todd A. Smith and Michael P. Donovan.
2022: Christopher A. Strain, Kent D. Rigdon, David P. Millis and Todd A. Smith.
2021: Christopher A. Strain, Kent D. Rigdon, David P. Millis and Jo A. Borden.
2020: Christopher A. Strain, Kent D. Rigdon, David P. Millis and Jo A. Borden.
Adjustment to PEO Compensation, Footnote [Text Block] | For 2023, 2022, 2021, and 2020, the only compensation received by Mr. Gerdin was reported in the “Salary” and “All Other Compensation” columns of the SCT and Mr. Gerdin does not receive any stock awards from the Company. Therefore, no adjustments were made to determine the compensation actually paid to Mr. Gerdin. |  |  |
Peer Group Issuers, Footnote [Text Block] | The Peer Group TSR assumes that $100 was invested on December 31, 2019 in the Peer Group made up of the six companies listed in the Compensation Discussion and Analysis section of this proxy statement (Covenant Logistics Group, Inc., Knight-Swift Transportation Holdings Inc., Marten Transport, Ltd., P.A.M Transportation Services, Inc., Schneider National, Inc., and Werner Enterprises, Inc.) and that dividends were reinvested when and as paid. In 2022, we used a peer group consisting of Covenant Logistics Group, Inc., Knight-Swift Transportation Holdings Inc., Marten Transport, Ltd., P.A.M Transportation Services, Inc., U.S. Xpress Enterprises, Inc., and Werner Enterprises, Inc. (collectively, the “Former Peer Group”). We substituted Schneider National, Inc. for U.S. Xpress Enterprises, Inc. because U.S. Xpress Enterprises, Inc. was acquired by Knight-Swift Transportation Holdings Inc. in July 2023 and is therefore no longer a public company. The TSR for the Former Peer Group was $115.69 for 2020, $160.35 for 2021, and $142.26 for 2022. It is impracticable to calculate the TSR for the Former Peer Group for 2023 as information regarding U.S. Xpress Enterprises, Inc. for 2023 is not available as it is no longer a public company. |  |  |
Company Selected Measure Name [Text Block] | Operating Ratio |  |  |
PEO Name [Text Block] | Michael J. Gerdin |  |  |
Measure [Axis]: 1 |  |  |  |
Pay vs Performance Disclosure [Table] |  |  |  |
Measure Name | Total Shareholder Return |  |  |
Measure [Axis]: 2 |  |  |  |
Pay vs Performance Disclosure [Table] |  |  |  |
Measure Name | Net Income |  |  |
Measure [Axis]: 3 |  |  |  |
Pay vs Performance Disclosure [Table] |  |  |  |
Measure Name | Operating Ratio |  |  |
Non-PEO NEO [Member] Stock and Option Awards Reported in the Summary Compensation [Member] |  |  |  |
Pay vs Performance Disclosure [Line Items] |  |  |  |
Adjustment to Compensation Amount | $ (22,967) | (51,039) | (2,511) | (55,341)
Non-PEO NEO [Member] YE Fair Value of Awards Granted During the Covered FY that are Outstanding and Unvested as of the End of the Covered FY [Member] |  |  |  |
Pay vs Performance Disclosure [Line Items] |  |  |  |
Adjustment to Compensation Amount | 10,712 | 12,886 | 0 | 22,625
Non-PEO NEO [Member] Change in Fair Value as of the End of the Covered FY for Awards Granted in a Prior FY that are Outstanding and Unvested as of the Covered FY [Member] |  |  |  |
Pay vs Performance Disclosure [Line Items] |  |  |  |
Adjustment to Compensation Amount | (2,160) | 0 | (320) | (2,397)
Non-PEO NEO [Member] Vesting-Date Fair Value of Awards Granted During the Covered FY that Vested During the Covered FY [Member] |  |  |  |
Pay vs Performance Disclosure [Line Items] |  |  |  |
Adjustment to Compensation Amount | 12,721 | 40,119 | 2,511 | 31,179
Non-PEO NEO [Member] Change in Fair Value as of the Vesting Date for Awards Granted in a Prior FY that Vested During the Covered FY [Member] |  |  |  |
Pay vs Performance Disclosure [Line Items] |  |  |  |
Adjustment to Compensation Amount | $ 2,059 | $ 0 | $ (1,831) | $ 17

X
- Definition Adjustment to Compensation Amount + References No definition available. + Details
Name: | htld_AdjustmentToCompensationAmount
Namespace Prefix: | htld_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Adjustment to Non-PEO NEO Compensation Footnote + References No definition available. + Details
Name: | htld_AdjustmentToNonPEONEOCompensationFootnoteTextBlock
Namespace Prefix: | htld_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Adjustment to PEO Compensation, Footnote + References No definition available. + Details
Name: | htld_AdjustmentToPEOCompensationFootnoteTextBlock
Namespace Prefix: | htld_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Company Selected Measure Name + References No definition available. + Details
Name: | htld_CompanySelectedMeasureNameTextBlock
Namespace Prefix: | htld_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Compensation Actually Paid vs. Net Income + References No definition available. + Details
Name: | htld_CompensationActuallyPaidVsNetIncomeTextBlock
Namespace Prefix: | htld_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Compensation Actually Paid vs. Operating Ratio + References No definition available. + Details
Name: | htld_CompensationActuallyPaidVsOperatingRatioTextBlock
Namespace Prefix: | htld_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Compensation Actually Paid vs. Total Shareholder Return + References No definition available. + Details
Name: | htld_CompensationActuallyPaidVsTotalShareholderReturnTextBlock
Namespace Prefix: | htld_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Measure Name + References No definition available. + Details
Name: | htld_MeasureName
Namespace Prefix: | htld_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Named Executive Officers, Footnote + References No definition available. + Details
Name: | htld_NamedExecutiveOfficersFootnoteTextBlock
Namespace Prefix: | htld_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Net Income + References No definition available. + Details
Name: | htld_NetIncome
Namespace Prefix: | htld_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Non-PEO NEO Average Compensation Actually Paid Amount + References No definition available. + Details
Name: | htld_NonPEONEOAverageCompensationActuallyPaidAmount
Namespace Prefix: | htld_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Non-PEO NEO Average Total Compensation Amount + References No definition available. + Details
Name: | htld_NonPEONEOAverageTotalCompensationAmount
Namespace Prefix: | htld_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Operating Ratio + References No definition available. + Details
Name: | htld_OperatingRatio
Namespace Prefix: | htld_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition PEO Actually Paid Compensation Amount + References No definition available. + Details
Name: | htld_PEOActuallyPaidCompensationAmount
Namespace Prefix: | htld_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition PEO Name + References No definition available. + Details
Name: | htld_PEONameTextBlock
Namespace Prefix: | htld_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition PEO Total Compensation Amount + References No definition available. + Details
Name: | htld_PEOTotalCompensationAmount
Namespace Prefix: | htld_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Pay vs Performance2 + References No definition available. + Details
Name: | htld_PayVsPerformance2LineItems
Namespace Prefix: | htld_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Pay vs Performance Disclosure2 + References No definition available. + Details
Name: | htld_PayVsPerformanceDisclosure2LineItems
Namespace Prefix: | htld_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Pay vs Performance + References No definition available. + Details
Name: | htld_PayVsPerformanceTableTextBlock
Namespace Prefix: | htld_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Peer Group Issuers, Footnote + References No definition available. + Details
Name: | htld_PeerGroupIssuersFootnoteTextBlock
Namespace Prefix: | htld_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Peer Group Total Shareholder Return Amount + References No definition available. + Details
Name: | htld_PeerGroupTotalShareholderReturnAmount
Namespace Prefix: | htld_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Tabular List + References No definition available. + Details
Name: | htld_TabularListTextBlock
Namespace Prefix: | htld_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Total Shareholder Return Amount + References No definition available. + Details
Name: | htld_TotalShareholderReturnAmount
Namespace Prefix: | htld_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Details
Name: | htld_MeasureAxis=htld_Measure1Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | htld_MeasureAxis=htld_Measure2Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | htld_MeasureAxis=htld_Measure3Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | htld_MeasureAxis=htld_StockAndOptionAwardsReportedInTheSummaryCompensationTableMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | htld_MeasureAxis=htld_YEFairValueOfAwardsGrantedDuringTheCoveredFYThatAreOutstandingAndUnvestedAsOfTheEndOfTheCoveredFYMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | htld_MeasureAxis=htld_FairValueAsOfTheEndOfTheCoveredFYForAwardsGrantedInAPriorFYThatAreOutstandingAndUnvestedAsOfTheCoveredFYMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | htld_MeasureAxis=htld_VestingDateFairValueOfAwardsGrantedDuringTheCoveredFYThatVestedDuringTheCoveredFYMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | htld_MeasureAxis=htld_ChangeInFairValueAsOfTheVestingDateForAwardsGrantedInAPriorFYThatVestedDuringTheCoveredFYMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |