Segment Reporting

9 Months Ended

Sep. 30, 2015

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 Global Solutions.

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, 2015 and 2014 and as of September 30, 2015 and December 31, 2014 (in thousands):

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2015			2014			2015			2014
Revenues:
TL	$	292,951		$	262,865		$	870,614		$	687,539
LTL	127,284			151,069			397,872			436,232
Global Solutions	82,392			87,240			254,127			225,695
Eliminations	(5,454		)	(3,088		)	(18,540		)	(9,168		)
Total	497,173			498,086			1,504,073			1,340,298
Operating income:
TL	$	15,277		$	18,474		$	51,720		$	46,500
LTL	1,955			5,478			18,981			20,154
Global Solutions	6,612			6,708			20,123			16,273
Corporate	(9,485		)	(5,380		)	(18,421		)	(11,455		)
Total operating income	14,359			25,280			72,403			71,472
Interest expense	4,913			3,827			13,895			8,936
Income before provision for income taxes	$	9,446		$	21,453		$	58,508		$	62,536
Depreciation and amortization:
TL	$	6,236		$	4,266		$	16,414		$	11,050
LTL	822			912			2,394			2,531
Global Solutions	1,024			866			3,021			2,333
Corporate	361			275			1,026			874
Total	$	8,443		$	6,319		$	22,855		$	16,788
Capital expenditures(1) (2):
TL	$	10,198		$	6,311		$	31,817		$	22,570
LTL	2,120			1,963			6,391			4,142
Global Solutions	2,530			261			2,978			1,278
Corporate	644			540			8,496			2,566
Total	$	15,492		$	9,075		$	49,682		$	30,556

(1) The total capital expenditures for the three and nine months ended September 30, 2015 and September 30, 2014 includes both cash and non-cash portions as reflected in the Condensed Consolidated Statements of Cash Flows.

(2) Certain capital expenditures were reclassified between segments to conform with the current period presentation.  This change in presentation had no effect on our prior year condensed consolidated results of operations, financial condition, or cash flows.

	September 30, 2015			December 31, 2014
Assets:
TL	$	815,535		$	691,096
LTL	738,157			782,268
Global Solutions	245,088			242,512
Corporate	11,996			4,919
Eliminations	(481,418		)	(462,975		)
	$	1,329,358		$	1,257,820