Segment Reporting

6 Months Ended

Jun. 30, 2013

Segment Reporting [Abstract]

Segment reporting

12. Segment Reporting

The Company determines its operating segments based on the information utilized by the chief operating decision maker, the Company’s Chief Executive Officer, to allocate resources and assess performance. Based on this information, the Company has determined that it has three operating segments, which are also the reportable segments: LTL, TL, and TMS.

These reportable segments are strategic business units through which the Company offers different services. The Company evaluates the performance of the segments primarily based on their respective revenues and operating income. Accordingly, interest expense and other non-operating items are not reported in segment results. In addition, the Company has disclosed a corporate segment, which is not an operating segment and includes acquisition transaction expenses, corporate salaries, and stock-based compensation expense.

The following table reflects certain financial data of the Company’s reportable segments for the three and six months ended June 30, 2013 and 2012 and as of June 30, 2013 and December 31, 2012 (in thousands):

	Three Months Ended June 30,						Six Months Ended June 30,
	2013			2012			2013			2012
Revenues:
LTL	$	146,545		$	129,717		$	279,236		$	248,670
TL	161,235			111,045			307,776			209,072
TMS	26,967			23,127			48,410			43,807
Eliminations	(2,839		)	(1,343		)	(4,134		)	(2,430		)
Total	331,908			262,546			631,288			499,119
Operating income:
LTL	11,808			10,454			20,786			18,904
TL	11,351			6,829			21,019			12,491
TMS	3,966			2,765			6,289			4,977
Corporate	(2,727		)	(1,475		)	(4,559		)	(3,159		)
Total operating income	24,398			18,573			43,535			33,213
Interest expense	1,610			2,071			3,485			3,918
Income before provision for income taxes	$	22,788		$	16,502		$	40,050		$	29,295
Depreciation and amortization:
LTL	$	1,004		$	546		$	1,782		$	1,061
TL	2,617			1,385			5,014			2,644
TMS	189			194			352			380
Corporate	36			—			53			—
Total	$	3,846		$	2,125		$	7,201		$	4,085
Capital expenditures:
LTL	$	837		$	1,272		$	1,960		$	3,859
TL	8,231			2,252			16,180			2,896
TMS	28			29			52			57
Corporate	406			—			753			—
Total	$	9,502		$	3,553		$	18,945		$	6,812

	June 30, 2013			December 31, 2012
Assets:
LTL	$	519,771		$	490,067
TL	376,133			339,890
TMS	74,549			61,076
Eliminations	(208,705		)	(190,225		)
	$	761,748		$	700,808