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Note 8 - Leases | 12 Months Ended
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Dec. 31, 2016
Notes to Financial Statements |
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 we have capital lease commitments for revenue equipment, in each case excluding owner/operator rentals and month-to-month equipment rentals, summarized for the following fiscal years (in thousands):
|  | Operating |  |  | Capital |
2017 |  | $ | 7,135 |  |  | $ | 3,062 |
2018 |  |  | 6,047 |  |  |  | 3,062 |
2019 |  |  | 3,844 |  |  |  | 3,062 |
2020 |  |  | 430 |  |  |  | 5,284 |
2021 |  |  | - |  |  |  | 6,508 |
Thereafter |  |  | - |  |  |  | 3,548 |
Total minimum lease payments |  | $ | 17,456 |  |  | $ | 24,526 |
Less: amount representing interest |  |  |  |  |  |  | (2,324 | )
Present value of minimum lease payments |  |  |  |  |  |  | 22,202 |
Less: current portion |  |  |  |  |  |  | (2,441 | )
Capital lease obligations, long-term |  |  |  |  |  | $ | 19,761 |
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 $ 4.0 million at December 31, 2016 and 2015, respectively. The residual guarantees at December 31, 2016 expire between August 2018 and February 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) |  | 2016 |  |  | 2015 |  |  | 2014 |
Revenue equipment rentals |  | $ | 10,773 |  |  | $ | 12,611 |  |  | $ | 20,935 |
Building and lot rentals |  |  | 708 |  |  |  | 2,078 |  |  |  | 3,561 |
Other equipment rentals |  |  | 254 |  |  |  | 340 |  |  |  | 317 |
|  | $ | 11,735 |  |  | $ | 15,029 |  |  | $ | 24,813 |

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- Definition The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6455398&loc=d3e45280-112737 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6452660&loc=d3e36991-112694 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6453985&loc=d3e41499-112717 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 55 -Paragraph 40 -Subparagraph (Note 1,3) -URI http://asc.fasb.org/extlink&oid=6584154&loc=d3e38371-112697 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6851643&loc=d3e12069-110248 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6453985&loc=d3e41502-112717 + Details
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