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Note 15 - Segment Information
 12 Months Ended
Dec. 31, 2022
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

15.

SEGMENT INFORMATION

 

Our four reportable segments are:

 

●

Expedited: The Expedited reportable segment primarily provides truckload services to customers with high service freight and delivery standards, such as 1,000 miles in 22 hours, or 15-minute delivery windows. Expedited services generally require two-person driver teams on equipment either owned or leased by the Company.

●

Dedicated: The Dedicated reportable segment provides customers with committed truckload capacity over contracted periods with the goal of three to five years in length. Equipment is either owned or leased by the Company.

●

Managed Freight: The Managed Freight reportable segment includes our brokerage and transport management services ("TMS"). Brokerage services provide logistics capacity by outsourcing the carriage of customers' freight to third parties. TMS provides comprehensive logistics services on a contractual basis to customers who prefer to outsource their logistics needs.

●

Warehousing: The Warehousing reportable segment provides day-to-day warehouse management services to customers who have chosen to outsource this function. We also provide shuttle and switching services related to shuttling containers and trailers in or around freight yards and to/from warehouses.

 

The accounting policies of the reportable segments are the same as those described in the summary of significant accounting policies. 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 reportable segment information for 2022 and 2021:

 

(in thousands)

                    

Year Ended December 31, 2022

 

Expedited

  

Dedicated

  

Managed Freight

  

Warehousing

  

Consolidated

 

Total revenue from external customers

 $452,713  $362,997  $320,985  $80,163  $1,216,858 

Intersegment revenue

  5,505   -   -   -   5,505 

Operating income

  60,552   21,087   36,858   2,185   120,682 

Depreciation and amortization

  30,101   25,449   247   1,715   57,512 

 

(in thousands)

                    

Year Ended December 31, 2021

 

Expedited

  

Dedicated

  

Managed Freight

  

Warehousing

  

Consolidated

 

Total revenue from external customers

 $337,063  $324,541  $321,236  $63,163  $1,046,003 

Intersegment revenue

  7,429   -   -   -   7,429 

Operating income (loss)

  33,064   (1,357)  32,461   2,994   67,162 

Depreciation and amortization

  25,364   25,960   595   1,962   53,881 

 

(in thousands)

 

For the years ended December 31,

 
  

2022

  

2021

 

Total external revenues for reportable segments

 $1,216,858  $1,046,003 

Intersegment revenues for reportable segments

  5,505   7,429 

Elimination of intersegment revenues

  (5,505)  (7,429)

Total consolidated revenues

 $1,216,858  $1,046,003 

 

Balance sheet data by reportable segment is not maintained by the Company.