Guarantees (Notes)

9 Months Ended

Sep. 30, 2014

Guarantees [Abstract]

Guarantees

9. Guarantees

The Company provides a guarantee for a portion of the value of certain independent contractors' ("IC") leased tractors.  The guarantees expire at various dates through 2020.  The potential maximum exposure under these lease guarantees was approximately $17.6 million as of September 30, 2014.  The potential maximum exposure represents the Company’s commitment on remaining lease payments on guaranteed leases as of September 30, 2014.  However, upon an IC default, the Company has the option to purchase the tractor or return the tractor to the leasing company if the residual value is greater than the Company’s guarantee. Alternatively, the Company can contract another IC to assume the lease.  There were no material IC defaults during the three and nine months ended September 30, 2014 and 2013. Payments made by the Company under the guarantees were de minimis for the three and nine months ended September 30, 2014 and 2013. No liability related to these lease guarantees was recorded as of September 30, 2014 or December 31, 2013.