Segment Reporting

3 Months Ended

Mar. 31, 2017

11. 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 Ascent.

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 legal expenses, corporate salaries, and share-based compensation expense.

The following table reflects certain financial data of the Company’s segments for the three months ended March 31, 2017 and 2016 and as of March 31, 2017 and December 31, 2016 (in thousands):



	Three Months Ended
	March 31,
	2017			2016
Revenues:
TL	$	283,847		$	273,344
LTL	108,776			114,353
Ascent	88,383			83,378
Eliminations	(2,086		)	(4,529		)
Total	$	478,920		$	466,546
Operating (loss) income:
TL	$	(233	)	$	3,798
LTL	(2,721		)	1,745
Ascent	6,316			7,404
Corporate	(21,272		)	(5,871		)
Total	$	(17,910	)	$	7,076
Interest expense	6,525			5,608
(Loss) income before provision for income taxes	$	(24,435	)	$	1,468
Depreciation and amortization:
TL	$	6,667		$	6,742
LTL	961			869
Ascent	1,265			1,222
Corporate	412			376
Total	$	9,305		$	9,209
Capital expenditures:
TL	$	3,409		$	3,138
LTL	244			1,111
Ascent	217			1,689
Corporate	60			109
Total	$	3,930		$	6,047



	March 31, 2017			December 31, 2016
Assets:
TL	$	449,031		$	498,330
LTL	87,151			129,899
Ascent	289,340			302,164
Corporate	75,241			4,189
Eliminations⁽¹⁾	(956		)	(1,028		)
Total	$	899,807		$	933,554

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