Segment Reporting

9 Months Ended

Sep. 30, 2013

Segment Reporting [Abstract]

Segment reporting

13. 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 nine months ended September 30, 2013 and 2012 and as of September 30, 2013 and December 31, 2012 (in thousands):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2013			2012			2013			2012
Revenues:
LTL	$	144,190		$	132,451		$	423,426		$	381,121
TL	170,102			124,212			477,878			333,284
TMS	50,921			23,955			99,331			67,762
Eliminations	(2,057		)	(1,453		)	(6,191		)	(3,883		)
Total	363,156			279,165			994,444			778,284
Operating income:
LTL	10,907			10,015			31,693			28,919
TL	10,843			7,321			31,862			19,812
TMS	4,634			2,746			10,923			7,723
Corporate	(2,725		)	(2,077		)	(7,284		)	(5,236		)
Total operating income	23,659			18,005			67,194			51,218
Interest expense	2,078			1,943			5,563			5,861
Income before provision for income taxes	$	21,581		$	16,062		$	61,631		$	45,357
Depreciation and amortization:
LTL	$	614		$	627		$	2,396		$	1,688
TL	3,057			1,603			8,071			4,247
TMS	291			194			643			574
Corporate	67			—			120			—
Total	$	4,029		$	2,424		$	11,230		$	6,509
Capital expenditures:
LTL	$	2,348		$	1,802		$	5,061		$	5,661
TL	3,552			3,406			19,136			6,302
TMS	130			6			182			63
Corporate	—			—						—
Total	$	6,030		$	5,214		$	24,379		$	12,026

	September 30, 2013			December 31, 2012
Assets:
LTL	$	582,357		$	490,067
TL	384,008			339,890
TMS	156,553			61,076
Eliminations	(268,677		)	(190,225		)
	$	854,241		$	700,808