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Note 13 - Subsequent Events
9 Months Ended
Sep. 30, 2025
Notes to Financial Statements  
Subsequent Events [Text Block]

Note 13.

Subsequent Events

 

In October 2025, we acquired certain assets of a small logistics and brokerage company. The Asset Purchase Agreement includes an earnout component based on the average adjusted earnings before interest, taxes, depreciation, and amortization reported for operations associated with the purchased assets for the three years ending  December 31, 2028 with advance payments being made for incremental targets at each of the years ending December 31, 2026 and 2027. The total purchase price, excluding any earnout achieved, was approximately $30.0 million. The purchase accounting, including the valuation of the earnout, has not yet been completed.

 

Based on adverse claims development after September 30, 2025, through the date of this report, management anticipates the insurance and claims accrual rate experienced for each of the first three quarters of 2025 will be increased an additional $4.0 million and $9.0 million in the fourth quarter of 2025.