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Note 8 - Leases
 12 Months Ended
Dec. 31, 2013
Leases [Abstract]  
Leases of Lessee Disclosure [Text Block]

8.     LEASES


We have operating lease commitments for office and terminal properties, revenue equipment, and computer and office equipment and capital lease commitments for revenue equipment, exclusive of owner/operator rentals and month-to-month equipment rentals, summarized for the following fiscal years (in thousands):


     

Operating

   

Capital

 
 

2014

  $ 23,731     $ 9,741  
 

2015

  $ 21,382     $ 4,352  
 

2016

  $ 16,460     $ 3,876  
 

2017

  $ 8,287     $ 990  
 

2018

  $ 5,195     $ 990  
 

Thereafter

  $ 21,808     $ 4,168  

A portion of our operating leases of tractors and trailers contain residual value guarantees under which we guarantee a certain minimum cash value payment to the leasing company at the expiration of the lease. We estimate that the undiscounted value of the residual guarantees is approximately $9.9 million and $9.2 million at December 31, 2013 and 2012, respectively. The residual guarantees at December 31, 2013 expire between 2016 and 2019. We expect our residual guarantees to approximate the market value at the end of the lease term. Additionally, certain leases contain cross-default provisions with other financing agreements and additional charges if the unit's mileage exceeds certain thresholds defined in the lease agreement.


Rental expense is summarized as follows for each of the three years ended December 31:


(in thousands)

 

2013

   

2012

   

2011

 

Revenue equipment rentals

  $ 22,991     $ 19,746     $ 15,364  

Building and lot rentals

    4,044       3,714       3,266  

Other equipment rentals

    362       679       812  
    $ 27,397     $ 24,139     $ 19,442