XML 27 R17.htm IDEA: XBRL DOCUMENT v3.22.2
Note K - Notes Payable
6 Months Ended
Jun. 30, 2022
Notes to Financial Statements  
Long-Term Debt [Text Block]

NOTE K: NOTES PAYABLE

During the first six months of 2022, the Company’s subsidiaries entered into installment obligations totaling approximately $53.8 million for the purpose of purchasing revenue equipment. These obligations are payable in monthly installments and are recorded in long term debt and current maturities on the condensed consolidated balance sheets. The terms of these obligations vary from 36 months for trucks to 120 months for real estate. In addition, during June 2022 the Company’s subsidiaries assumed approximately $12.3 million of installment obligations as part of a business acquisition. The terms of these obligations vary from 1 month to 36 months for trucks acquired and from 24 months to 34 months for trailers acquired.