Segment Reporting

9 Months Ended

Sep. 30, 2014

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 its reportable segments: TL, LTL, 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 share-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, 2014 and 2013 and as of September 30, 2014 and December 31, 2013 (in thousands):

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2014			2013			2014			2013
Revenues:
TL	$	262,865		$	170,102		$	687,539		$	477,878
LTL	151,069			144,190			436,232			423,426
TMS	87,240			50,921			225,695			99,331
Eliminations	(3,088		)	(2,057		)	(9,168		)	(6,191		)
Total	498,086			363,156			1,340,298			994,444
Operating income:
TL	$	18,474		$	10,843		$	46,500		$	31,862
LTL	5,478			10,907			20,154			31,693
TMS	6,708			4,634			16,273			10,923
Corporate	(5,380		)	(2,725		)	(11,455		)	(7,284		)
Total operating income	25,280			23,659			71,472			67,194
Interest expense	3,827			2,078			8,936			5,563
Income before provision for income taxes	$	21,453		$	21,581		$	62,536		$	61,631
Depreciation and amortization:
TL	$	4,266		$	3,057		$	11,050		$	8,071
LTL	912			614			2,531			2,396
TMS	866			291			2,333			643
Corporate	275			67			874			120
Total	$	6,319		$	4,029		$	16,788		$	11,230
Capital expenditures:
TL	$	5,299		$	3,552		$	21,180		$	19,136
LTL	2,975			1,651			5,532			3,611
TMS	261			130			1,278			182
Corporate	540			697			2,566			1,450
Total	$	9,075		$	6,030		$	30,556		$	24,379

	September 30, 2014			December 31, 2013
Assets:
TL	$	655,543		$	388,262
LTL	831,717			576,976
TMS	235,762			162,718
Corporate	4,716			—
Eliminations	(480,337		)	(256,076		)
	$	1,247,401		$	871,880