14. Segment Reporting

The Company determines its segments based on the information utilized by the CODM, the Company’s Chief Executive Officer, to allocate resources and assess performance. Based on this information, the Company has determined that it has four segments: Ascent, Active On-Demand, LTL, and TL. The Company changed its segment reporting effective April 1, 2019, when the CODM began assessing the performance of the Active On-Demand air and ground expedite business separately from its truckload businesses. Segment information for prior periods has been revised to align with the new segment structure.

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 corporate salaries, insurance and administrative costs, and long-term incentive compensation expense.

Included within corporate are rolling stock assets that are purchased and leased by Roadrunner Equipment Leasing (“REL”). REL, a wholly owned subsidiary of the Company, is a centralized asset management company that purchases and leases equipment that is utilized by the Company's segments for use by company drivers or ICs.

The following table reflects certain financial data of the Company’s segments for the three and six months ended June 30, 2019 and 2018 and as of June 30, 2019 and December 31, 2018 (in thousands):



	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2019			2018			2019			2018
Revenues:
Ascent	$	130,160		$	144,630		$	261,853		$	279,573
Active On-Demand	101,492			164,770			244,263			359,536
LTL	117,076			117,164			219,898			230,289
TL	141,472			145,761			278,483			290,318
Eliminations	(9,512		)	(14,299		)	(16,661		)	(31,706		)
Total	$	480,688		$	558,026		$	987,836		$	1,128,010
Operating (loss) income:
Ascent	$	5,880		$	7,314		$	11,252		$	14,021
Active On-Demand	(2,614		)	7,808			583			14,261
LTL	(4,440		)	(3,743		)	(10,275		)	(12,427		)
TL	(103,506		)	(8,558		)	(110,422		)	(10,611		)
Corporate	(33,161		)	(14,196		)	(49,755		)	(30,049		)
Total	$	(137,841	)	$	(11,375	)	$	(158,617	)	$	(24,805	)
Interest expense	4,632			34,232			8,514			43,775
Loss on debt restructuring	—			—			2,270			—
Loss before income taxes	$	(142,473	)	$	(45,607	)	$	(169,401	)	$	(68,580	)
Depreciation and amortization:
Ascent	$	1,616		$	1,168		$	3,298		$	2,356
Active On-Demand	2,125			2,036			4,221			4,030
LTL	1,085			900			1,723			1,813
TL	7,030			4,205			16,121			8,507
Corporate	2,932			815			4,967			1,483
Total	$	14,788		$	9,124		$	30,330		$	18,189
Capital expenditures⁽¹⁾:
Ascent	$	213		$	355		$	2,050		$	709
Active On-Demand	1,167			1,322			2,315			2,429
LTL	3,248			55			5,020			255
TL	2,582			1,618			8,306			3,508
Corporate⁽²⁾	24,162			12,510			49,995			14,934
Total	$	31,372		$	15,860		$	67,686		$	21,835



	June 30, 2019			December 31, 2018
Assets:
Ascent	$	302,185		$	276,994
Active On-Demand	99,127			136,795
LTL	123,494			73,706
TL	176,929			244,760
Corporate	143,967			123,921
Eliminations⁽³⁾	(2,381		)	(2,719		)
Total	$	843,321		$	853,457

(1) Includes non-cash finance leases and capital expenditures not yet paid.

(2) The first half of 2019 included $42.5 million of rolling stock assets that were purchased and leased to operating units of the Company by REL, of which 64% was leased to the TL segment, 35% was leased to the LTL segment and 1% was leased to the Ascent segment.

(3) Eliminations represents intercompany trade receivable balances between the four segments.