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Note 1 - Significant Accounting Policies (Tables) | 9 Months Ended
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Sep. 30, 2018
Notes Tables |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block] |
|  | Three Months Ended September 30, 2018 |
Financial Statement Line Item (in thousands) |  | As reported |  |  | Adjustments |  |  | Balances without adoption of Topic 606 |
Consolidated Balance Sheet |
Accounts receivable, net of allowances |  | $ | 134,957 |  |  | $ | (1,276 | ) |  | $ | 133,681 |
Total assets |  |  | 747,482 |  |  |  | (1,276 | ) |  |  | 746,206 |
Accrued expenses |  |  | 47,797 |  |  |  | (236 | ) |  |  | 47,561 |
Deferred income taxes |  |  | 73,347 |  |  |  | (286 | ) |  |  | 73,061 |
Total liabilities |  |  | 421,332 |  |  |  | (522 | ) |  |  | 420,810 |
Retained earnings |  |  | 184,064 |  |  |  | (754 | ) |  |  | 183,310 |
Total stockholders’ equity |  |  | 326,150 |  |  |  | (754 | ) |  |  | 325,396 |
Total liabilities and stockholders’ equity |  |  | 747,482 |  |  |  | (1,276 | ) |  |  | 746,206 |
Consolidated Statement of Operations |
Freight revenue |  |  | 214,623 |  |  |  | 49 |  |  |  | 214,672 |
Total revenue |  |  | 243,303 |  |  |  | 49 |  |  |  | 243,352 |
Salaries, wages and related expenses |  |  | 86,249 |  |  |  | (1 | ) |  |  | 86,248 |
Revenue equipment rentals and purchased transportation |  |  | 47,445 |  |  |  | (95 | ) |  |  | 47,350 |
Total operating expenses |  |  | 227,122 |  |  |  | (96 | ) |  |  | 227,026 |
Income tax expense |  |  | 4,249 |  |  |  | 40 |  |  |  | 4,289 |
Net income |  |  | 11,614 |  |  |  | 105 |  |  |  | 11,719 |
Consolidated Statement of Comprehensive Income |
Net income |  |  | 11,614 |  |  |  | 105 |  |  |  | 11,719 |
Comprehensive income |  |  | 11,558 |  |  |  | 105 |  |  |  | 11,663 |
Consolidated Statement of Cash Flows |
Operating Cash Flows |  |  |  |  |  |  |  |  |  |  |  |
Net income |  |  | 11,614 |  |  |  | 105 |  |  |  | 11,719 |
Deferred income tax expense |  |  | 2,676 |  |  |  | 40 |  |  |  | 2,716 |
Change in: Receivables and advances |  |  | (16,537 | ) |  |  | (49 | ) |  |  | (16,586 | )
Change in: Accounts payable and accrued expenses |  |  | 16,087 |  |  |  | (96 | ) |  |  | 15,991 |
Net cash flows provided by operating activities |  |  | 38,981 |  |  |  | - |  |  |  | 38,981 |
|  | Nine Months Ended September 30, 2018 |
Financial Statement Line Item (in thousands) |  | As reported |  |  | Adjustments |  |  | Balances without adoption of Topic 606 |
Consolidated Balance Sheet |
Accounts receivable, net of allowances |  | $ | 134,957 |  |  | $ | (1,276 | ) |  | $ | 133,681 |
Total assets |  |  | 747,482 |  |  |  | (1,276 | ) |  |  | 746,206 |
Accrued expenses |  |  | 47,797 |  |  |  | (236 | ) |  |  | 47,561 |
Deferred income taxes |  |  | 73,347 |  |  |  | (286 | ) |  |  | 73,061 |
Total liabilities |  |  | 421,332 |  |  |  | (522 | ) |  |  | 420,810 |
Retained earnings |  |  | 184,064 |  |  |  | (754 | ) |  |  | 183,310 |
Total stockholders’ equity |  |  | 326,150 |  |  |  | (754 | ) |  |  | 325,396 |
Total liabilities and stockholders’ equity |  |  | 747,482 |  |  |  | (1,276 | ) |  |  | 746,206 |
Consolidated Statement of Operations |
Freight revenue |  |  | 535,721 |  |  |  | (266 | ) |  |  | 535,455 |
Total revenue |  |  | 613,187 |  |  |  | (266 | ) |  |  | 612,921 |
Salaries, wages and related expenses |  |  | 211,621 |  |  |  | 13 |  |  |  | 211,634 |
Revenue equipment rentals and purchased transportation |  |  | 115,525 |  |  |  | (54 | ) |  |  | 115,471 |
Total operating expenses |  |  | 576,516 |  |  |  | (41 | ) |  |  | 576,475 |
Income tax expense |  |  | 9,716 |  |  |  | (62 | ) |  |  | 9,654 |
Net income |  |  | 26,002 |  |  |  | (164 | ) |  |  | 25,838 |
Consolidated Statement of Comprehensive Income |
Net income |  |  | 26,002 |  |  |  | (163 | ) |  |  | 25,838 |
Comprehensive income |  |  | 27,196 |  |  |  | (163 | ) |  |  | 27,032 |
Consolidated Statement of Cash Flows |
Operating Cash Flows |  |  |  |  |  |  |  |  |  |  |  |
Net income |  |  | 26,002 |  |  |  | (163 | ) |  |  | 25,838 |
Deferred income tax expense |  |  | 9,172 |  |  |  | (62 | ) |  |  | 9,110 |
Change in: Receivables and advances |  |  | (4,717 | ) |  |  | 266 |  |  |  | (4,451 | )
Change in: Accounts payable and accrued expenses |  |  | 17,723 |  |  |  | (41 | ) |  |  | 17,682 |
Net cash flows provided by operating activities |  |  | 101,613 |  |  |  | - |  |  |  | 101,612 |
Disaggregation of Revenue [Table Text Block] |
(in thousands) |  | Three Months ended September 30, |  |  | Nine Months ended September 30, |
|  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |
Total Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Truckload: Covenant Transport |  | $ | 108,223 |  |  | $ | 95,100 |  |  | $ | 309,583 |  |  | $ | 272,387 |
Truckload: SRT |  |  | 47,866 |  |  |  | 41,382 |  |  |  | 134,163 |  |  |  | 123,905 |
Truckload: Star Transportation |  |  | 19,887 |  |  |  | 16,584 |  |  |  | 57,489 |  |  |  | 50,030 |
Truckload: Landair |  |  | 21,077 |  |  |  | - |  |  |  | 21,077 |  |  |  | - |
Managed Freight |  |  | 46,250 |  |  |  | 25,565 |  |  |  | 90,875 |  |  |  | 55,379 |
Total |  | $ | 243,303 |  |  | $ | 178,631 |  |  | $ | 613,187 |  |  | $ | 501,701 |

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