Note L - Off-balance Sheet Arrangements

9 Months Ended

Sep. 30, 2015

Leases of Lessee Disclosure [Text Block]

NOTE L: OFF-BALANCE SHEET ARRANGEMENTS

During the first nine months of 2015, the Company’s subsidiaries entered into an operating lease for the lease of 50 trucks. Revenue equipment held under operating leases is not carried on our balance sheet and the respective lease payments are reflected in our consolidated statement of operations as a component of the Rents and purchased transportation category. Rent expense related to revenue equipment under operating leases totaled $2.7 million and $7.7 million for the three and nine months ended September 30, 2015, respectively.

Leases for revenue equipment under non-cancellable operating leases expire at various dates through 2018. F

uture minimum lease payments related to non-cancellable leases for revenue equipment at September 30, 2015 are:

	(in thousands)
2015	$	1,801
2016		9,784
2017		6,128
2018		188
Total future minimum lease payments	$	17,901