XML 37 R24.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Note 16 - Subsequent Events | 12 Months Ended
--- | ---
Dec. 31, 2021
Notes to Financial Statements |
Subsequent Events [Text Block] |
16. | SUBSEQUENT EVENTS
On January 26, 2022, our Board of Directors approved a quarterly cash dividend program of $0.0625 per share, subject to quarterly approval by our Board of Directors. Our Board of Directors has approved the first dividend, which will be for stockholders of record as of March 4, 2022, and payable on March 25, 2022. On February 9, 2022, we acquired AAT Carriers, Inc. ("AAT") headquartered in Chattanooga, TN. AAT will become a part of our Expedited reportable segment. AAT specializes in highly regulated, time-sensitive loads for the U.S. government. For 2021, AAT generated approximately $25 million in revenue. The purchase price includes a substantial earnout component based on AAT's adjusted earnings before interest, taxes, depreciation, and amortization reported for the first and second years following closing. The total purchase price, including any earnout achieved, is expected to range from $35 million to $55 million depending on the results achieved by AAT. The initial accounting for the acquisition is incomplete. The transaction included a Code Section 338(h)(10) election and is expected to be immediately accretive to earnings per diluted share. On February 10, 2022, our Board of Directors adopted a 10b5-1 plan for the purchase of up $30.0 million in shares subject to defined trading parameters, under our current stock repurchase program authorizing the purchase of up to $38.0 million of our Class A common stock.

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
Name: | us-gaap_SubsequentEventsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration