12. Segment Reporting

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

These 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 corporate, which is not a segment and includes acquisition transaction expenses, corporate salaries, and share-based compensation expense.

The following table reflects certain financial data of the Company’s segments, which has been adjusted for the effects of the restatement described in Note 13, 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	$	282,225		$	285,593		$	555,569		$	557,452
LTL	122,346			138,943			236,699			270,588
Global Solutions	83,627			99,952			167,005			192,698
Eliminations	(4,781		)	(6,865		)	(9,310		)	(14,281		)
Total	483,417			517,623			949,963			1,006,457
Operating income (loss):
TL	$	(110	)	$	14,583		$	3,688		$	27,980
LTL	781			6,509			2,526			14,251
Global Solutions	6,788			6,230			14,192			12,200
Corporate	(6,233		)	(5,671		)	(12,104		)	(12,306		)
Total operating income	1,226			21,651			8,302			42,125
Interest expense	5,695			4,373			11,303			8,982
(Loss) income before provision for income taxes	$	(4,469	)	$	17,278		$	(3,001	)	$	33,143
Depreciation and amortization:
TL	$	6,700		$	5,239		$	13,442		$	9,734
LTL	865			614			1,734			1,341
Global Solutions	1,233			1,261			2,455			2,537
Corporate	381			320			757			629
Total	$	9,179		$	7,434		$	18,388		$	14,241
Capital expenditures⁽¹⁾:
TL	$	1,856		$	12,005		$	4,994		$	25,689
LTL	1,303			4,739			2,414			5,270
Global Solutions	1,275			87			2,964			150
Corporate	150			648			259			1,302
Total	$	4,584		$	17,479		$	10,631		$	32,411

(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	$	634,596		$	656,491
LTL	332,190			330,203
Global Solutions	315,771			317,453
Corporate	5,973			8,057
Eliminations⁽¹⁾	(1,861		)	(4,451		)
Total	$	1,286,669		$	1,307,753

(1) Eliminations represents intercompany trade receivable balances between the three segments.