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Summary of Significant Accounting Policies (Tables)
3 Months Ended
Mar. 31, 2018
Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers  
Effect of Adoption of Standard on Previously Reported Financial Data

The below tables reflect the effect of the adoption of this standard on the previously reported financial data.

Condensed Consolidated Balance Sheet impact:

 

As of December 31, 2017

 

 

As adjusted

 

 

As originally reported

 

 

Effect of change

 

 

 

(in thousands)

Accounts receivable

 

$

170,278

 

 

$

170,610

 

 

$

(332

)

 

Total current assets

 

 

203,249

 

 

 

203,581

 

 

 

(332

)

 

Total assets

 

 

967,315

 

 

 

967,647

 

 

 

(332

)

 

Accounts payable

 

 

57,438

 

 

 

57,717

 

 

 

(279

)

 

Total current liabilities

 

 

166,926

 

 

 

167,205

 

 

 

(279

)

 

Retained earnings

 

 

339,500

 

 

 

339,553

 

 

 

(53

)

 

Total stockholders’ equity

 

 

582,494

 

 

 

582,547

 

 

 

(53

)

 

Total liabilities and stockholders’ equity

 

 

967,315

 

 

 

967,647

 

 

 

(332

)

 

 

Condensed Consolidated Statement of Operations impact:

 

For the quarter ended March 31, 2017

 

 

As adjusted

 

 

As originally reported

 

 

Effect of change

 

 

 

(in thousands, except per share data)

Operating revenue

 

$

323,090

 

 

$

317,037

 

 

$

6,053

 

 

Purchased transportation

 

 

20,820

 

 

 

14,775

 

 

 

6,045

 

 

Total operating expenses

 

 

305,563

 

 

 

299,518

 

 

 

6,045

 

 

Operating income

 

 

17,527

 

 

 

17,519

 

 

 

8

 

 

Net income

 

 

11,395

 

 

 

11,387

 

 

 

8

 

 

Basic Earnings Per Share

 

 

0.45

 

 

 

0.45

 

 

 

 

 

Diluted Earnings Per Share

 

 

0.44

 

 

 

0.44

 

 

 

 

 

 

Condensed Consolidated Statement of Cash Flows impact:

 

For the quarter ended March 31, 2017

 

 

As adjusted

 

 

As originally reported

 

 

Effect of change

 

 

 

(in thousands)

Net income

 

$

11,395

 

 

$

11,387

 

 

$

8

 

 

Changes in operating assets and liabilities, net

 

 

(12,765

)

 

 

(12,757

)

 

 

(8

)

 

Net cash provided by operating activities

 

 

24,128

 

 

 

24,128

 

 

 

 

 

Net decrease in cash and cash equivalents

 

 

(828

)

 

 

(828

)