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Note 10 - Segment Information, Significant Customers, Industry Concentration and Geographic Areas

12 Months Ended

Dec. 31, 2024

Segment Reporting and Concentration Risk Disclosure [Text Block]

10.

SEGMENT INFORMATION, SIGNIFICANT CUSTOMERS, INDUSTRY CONCENTRATION AND GEOGRAPHIC AREAS

The Company's revenues for 2024, 2023 and 2022 were all generated from operations in the motor carrier segment and are aggregated into a single reporting segment in accordance with the aggregation criteria under GAAP. Both our truckload operations and our brokerage/logistics operations have similar economic characteristics and are impacted by virtually the same economic factors as discussed elsewhere in this Report. Based on the Company’s segment identification, interpretation of the aggregation criteria outlined in ASC 280-10-50-11, and the similar qualitative and quantitative economic characteristics of the Company’s operating segments, the operations of the Company is aggregated into a single motor carrier segment. The Company’s chief operating decision maker, the Chief Executive Officer, utilizes the metrics of net income and operating ratio to evaluate company performance and in competitive analysis when comparing to competing companies. The accounting policies of the motor carrier segment are the same as those described in the summary of accounting policies found in this report.

The table below presents revenue dollars and percentages by geographic area:

	Year Ended December 31,
	2024					2023					2022
	(in thousands)
	Amount		Percent			Amount		Percent			Amount		Percent
United States - domestic shipments	$	448,137		62.1		$	512,552		63.2		$	629,921		66.5
Shipments to or from Mexico		265,386		37.7			296,696		36.6			313,885		33.2
Shipments to or from Canada		1,123		0.2			1,559		0.2			3,056		0.3

Total	$	714,646		100	%	$	810,807		100	%	$	946,862		100	%

Our five largest customers, for which we provide carrier services covering a number of geographic locations, accounted for approximately 39%, 34% and 39% of our total revenues in 2024, 2023 and 2022, respectively. General Motors Company accounted for approximately 12%, 12% and 13% of our revenues in 2024, 2023 and 2022, respectively.

We also provide transportation services to other manufacturers who are suppliers for automobile manufacturers. Approximately 32%, 30% and 31% of our revenues were derived from transportation services provided to the automobile industry during 2024, 2023 and 2022, respectively.

Accounts receivable from the three largest customers totaled approximately $25,384,000 and $24,665,000 at December 31, 2024 and 2023, respectively.