Segment Reporting

6 Months Ended

Jun. 30, 2016

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 reportable segments: TL, LTL, and Global Solutions. As indicated in Note 1, the Company realigned two of its operating companies into different reportable segments. Segment disclosures as of December 31, 2015 and for the three and six months ended June 30, 2015 have been revised to reflect this change in reportable segments.

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 six months ended June 30, 2016 and 2015 and as of June 30, 2016 and December 31, 2015 (in thousands):

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2016			2015			2016			2015
Revenues:
TL	$	282,240		$	285,900		$	556,044		$	557,895
LTL	122,346			138,943			235,776			270,588
Global Solutions	83,627			99,952			166,554			192,698
Eliminations	(4,781		)	(6,865		)	(9,310		)	(14,281		)
Total	483,432			517,930			949,064			1,006,900
Operating income:
TL	$	6,244		$	19,650		$	12,098		$	35,121
LTL	753			8,367			1,912			17,026
Global Solutions	6,683			8,568			14,351			14,833
Corporate	(5,051		)	(5,343		)	(9,126		)	(8,936		)
Total operating income	8,629			31,242			19,235			58,044
Interest expense	5,695			4,373			11,303			8,982
Income before provision for income taxes	$	2,934		$	26,869		$	7,932		$	49,062
Depreciation and amortization:
TL	$	6,831		$	5,195		$	13,675		$	9,628
LTL	1,002			737			2,012			1,572
Global Solutions	1,299			1,266			2,587			2,547
Corporate	399			337			793			665
Total	$	9,531		$	7,535		$	19,067		$	14,412
Capital expenditures(1):
TL	$	3,089		$	7,645		$	7,547		$	21,906
LTL	1,439			3,447			2,733			4,271
Global Solutions	1,283			99			2,973			161
Corporate	381			7,166			513			7,852
Total	$	6,192		$	18,357		$	13,766		$	34,190

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

	June 30, 2016			December 31, 2015
Assets:
TL	$	694,857		$	768,064
LTL	714,576			669,518
Global Solutions	317,457			319,703
Corporate	12,052			11,274
Eliminations	(436,625		)	(449,003		)
Total	$	1,302,317		$	1,319,556