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Note 3 - Segment Information

3 Months Ended

Mar. 31, 2019

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

Note 3. Segment Information

We have

two

reportable segments, Truckload, which is comprised of our truckload services, and Managed Freight, which provides freight brokerage and logistics services.

The Truckload segment consists of

four

service offerings that are aggregated because they have similar economic characteristics and meet the aggregation criteria.  The

four

service offerings that comprise our Truckload segment are as follows: (i) Expedited, provided primarily by Covenant Transport, our historical flagship operation; (ii) Dedicated, provided by all of our operating fleets; (iii) Refrigerated, provided primarily through our Southern Refrigerated Transport, Inc. ("SRT") subsidiary; and (iv) over-the-road ("OTR"), provided primarily by our Landair Transport, Inc. subsidiary.

In addition, our Managed Freight segment has service offerings ancillary to our Truckload services, including: freight brokerage, transportation management services ("TMS"), and shuttle and switching services. The operations consist of several operating segments, which are aggregated due to similar margins and customers. Included within Managed Freight are our accounts receivable factoring and warehousing businesses, neither of which meets the quantitative or qualitative reporting thresholds individually or in the aggregate.

The accounting policies of the segments are the same as those described in the summary of significant accounting policies in our 

2018

Annual Report on Form

10

-K. Substantially all intersegment sales prices are market based. We evaluate performance based on operating income of the respective business units.

The following table summarizes our revenue by our

two

reportable segments, Truckload and Managed Freight, disaggregated to the operating fleet level as used by our chief operating decision maker in making decisions regarding allocation of resources, etc., organized

first

by reportable segment (i.e. Truckload and Managed Freight) and then by operating fleet for the

three

months ended

March 31, 2019

:

(in thousands)		Three Months Ended
		March 31,
		2019				2018
Total Revenues:
Truckload Segment:
Expedited		$	62,722			$	80,762
Dedicated			79,771				40,379
Refrigerated			25,605				33,407
OTR			4,562				-
Truckload Revenues			172,660				154,548
Managed Freight Segment:
Brokerage			24,307				18,093
Warehouse			8,260				-
TMS			8,370				-
Shuttle & Switching			3,736				-
Factoring			1,848				925
Managed Freight Revenues			46,521				19,018
Total		$	219,181			$	173,566

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- References

No definition available.

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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