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Note 16 - Commitments and Contingencies | 12 Months Ended
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Dec. 31, 2024
Notes to Financial Statements |
Commitments and Contingencies Disclosure [Text Block] |
16. | COMMITMENTS AND CONTINGENT LIABILITIES
From time-to-time, we are a party to ordinary, routine litigation arising in the ordinary course of business, most of which involves claims for personal injury and/or property damage incurred in connection with the transportation of freight. We maintain insurance to cover liabilities arising from the transportation of freight for amounts in excess of certain self-insured retentions. Refer to Note 1 for information about our insurance program. We had $19.8 million and $21.8 million of outstanding and undrawn letters of credit as of December 31, 2024 and 2023, respectively. The letters of credit are maintained primarily to support our insurance programs. Additionally, we had $45.0 million of availability on a line of credit from Triumph solely to fund any indemnification owed to Triumph in relation to the sale of TFS. As of December 31, 2024, the remaining contingent liability was $0.8 million. We had commitments outstanding at December 31, 2024, to acquire revenue equipment totaling approximately $114.0 million versus commitments at December 31, 2023 of approximately $121.9 million. These commitments are cancelable upon stated notice periods, subject to certain adjustments in the underlying obligations and benefits.

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