XML 48 R36.htm IDEA: XBRL DOCUMENT v3.23.3

Note 13 - Acquisition of Lew Thompson & Son Trucking, Inc (Tables)

9 Months Ended

Sep. 30, 2023

Notes Tables

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

		February 9, 2022
(in thousands)
Cash paid pursuant to Stock Purchase Agreement		$	40,347
Cash acquired included in historical book value of AAT's assets and liabilities			(1,846	)
Contingent consideration			16,210
Net purchase price		$	54,711

Lew Thompson & Son Trucking, Inc. [Member]

Notes Tables

Business Acquisition, Pro Forma Information [Table Text Block]

(in thousands)		Three months ended				Nine months ended
		September 30, 2023				September 30, 2023
Total revenue		$	15,020			$	25,829
Net income		$	1,542			$	3,420

Lew Thompson & Son Trucking, Inc. [Member]

Notes Tables

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

		April 26, 2023
(in thousands)
Cash paid pursuant to Stock Purchase Agreement		$	100,726
Cash acquired included in historical book value of LTST's assets and liabilities			(839	)
Contingent consideration			10,016
Net purchase price		$	109,903

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

		April 26, 2023
Accounts receivable		$	5,135
Driver advances and other receivables			421
Inventory and supplies			1,015
Prepaid expenses			561
Net property and equipment			44,499
Other assets, net			120
Other intangibles, net			52,870
Total identifiable assets acquired			104,621
Accounts payable			(565	)
Accrued expenses			(1,465	)
Current portion of operating lease obligations			(396	)
Current portion of insurance and claims accrual			(56	)
Long-term portion of operating lease obligations			(2,103	)
Total liabilities assumed			(4,585	)
Net identifiable assets acquired			100,036
Goodwill			9,867
Net assets acquired		$	109,903

Business Acquisition, Pro Forma Information [Table Text Block]

(in thousands)		Three months ended								Nine months ended
		September 30,								September 30,
		2023				2022				2023				2022
Total revenue		$	303,741			$	328,001			$	878,626			$	969,286
Net income		$	14,687			$	53,613			$	49,772			$	106,560
Basic net income per share		$	1.13			$	3.72			$	3.80			$	6.88
Diluted net income per share		$	1.07			$	3.60			$	3.62			$	6.71

X

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)(2)
-SubTopic 10
-Topic 805
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479328/805-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)(3)
-SubTopic 10
-Topic 805
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479328/805-10-50-2

+ Details

Name:	us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479328/805-10-50-3

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479328/805-10-50-2

+ Details

Name:	us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479907/805-20-50-1

+ Details

Name:	us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_TableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Details

Name:	srt_ConsolidatedEntitiesAxis=cvti_LewThompsonSonTruckingIncMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_BusinessAcquisitionAxis=cvti_LewThompsonSonTruckingIncMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type: