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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues:        
Total revenue $ 481.3 $ 404.0 $ 902.3 $ 737.9
Operating expenses:        
Salaries, wages and employee benefits 97.2 93.4 194.7 184.1
Operations and maintenance 40.1 37.3 74.5 67.6
Communications 1.0 1.1 1.9 2.2
Administrative 17.1 12.7 34.0 29.2
Sales and marketing 0.6 0.5 1.0 1.1
Insurance and claims 17.6 9.9 41.0 26.7
Acquisition-related transaction expenses 1.9 0.0 3.3 0.0
Depreciation and amortization 22.7 22.2 44.3 44.4
Gain on disposition of property and equipment (4.5) (4.6) (9.1) (7.7)
Impairment 7.8 0.0 7.8 0.0
Restructuring charges 0.6 0.1 1.2 0.1
Total operating expenses 448.5 358.7 851.3 684.5
Income from operations 32.8 45.3 51.0 53.4
Other expense (income):        
Interest income (0.7) (0.1) (0.8) (0.2)
Interest expense 7.5 7.6 14.6 18.7
Change in fair value of warrant liability 0.0 (7.8) (4.7) (2.2)
Other 0.6 (0.4) 0.1 (0.8)
Total other expense (income) 7.4 (0.7) 9.2 15.5
Income before income taxes 25.4 46.0 41.8 37.9
Income tax expense 7.7 10.7 11.1 9.9
Net income 17.7 35.3 30.7 28.0
Other comprehensive income :        
Foreign currency translation adjustments (1.2) 0.2 (0.1) 0.4
Comprehensive income 16.5 35.5 30.6 28.4
Net income 17.7 35.3 30.7 28.0
Less dividends to Series A convertible preferred stockholders (1.2) (1.3) (2.5) (2.5)
Net income attributable to common stockholders $ (16.5) $ 34.0 $ 28.2 $ 25.5
Earnings per common share:        
Basic $ 0.26 $ 0.52 $ 0.44 $ 0.39
Diluted $ 0.24 $ 0.49 $ 0.43 $ 0.38
Weighted-average common shares outstanding:        
Basic 63,470,040 64,842,620 63,182,277 64,960,833
Diluted 71,555,039 71,866,303 71,319,113 66,154,571
Dividends declared per convertible preferred share $ 1.91 $ 1.91 $ 3.81 $ 3.81
Series A        
Other comprehensive income :        
Less dividends to Series A convertible preferred stockholders $ (1.2) $ (1.3) $ (2.5) $ (2.5)
Net income attributable to common stockholders (16.5) 34.0 28.2 25.5
Company freight        
Revenues:        
Total revenue 167.8 163.6 323.8 308.7
Operating expenses:        
Purchased freight 197.0 155.3 368.6 276.7
Owner operator freight        
Revenues:        
Total revenue 137.9 129.1 267.7 234.2
Brokerage        
Revenues:        
Total revenue 91.9 66.7 170.1 115.2
Logistics        
Revenues:        
Total revenue 14.0 10.7 25.4 19.2
Fuel surcharge        
Revenues:        
Total revenue 69.7 33.9 115.3 60.6
Operating expenses:        
Fuel 45.3 27.0 80.4 52.4
Service        
Operating expenses:        
Taxes and licenses $ 4.1 $ 3.8 $ 7.7 $ 7.7