REPORTABLE SEGMENTS

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

REPORTABLE SEGMENTS

NOTE 16 – REPORTABLE SEGMENTS

The Company’s operating segments sometimes provide transportation and related services for one another. Such services are generally billed at cost, and no profit is earned. Such intersegment revenues and expenses are eliminated in the Company’s reportable segment results. Intersegment revenues and expenses totaled $5.5 million, $2.7 million, and $4.8 million for the Flatbed Solutions segment for the years ended December 31, 2023, 2022, and 2021, respectively. Intersegment revenues and expenses totaled $5.9 million, $7.9 million, and $7.4 million for the Specialized Solutions segment for the years ended December 31, 2023, 2022, and 2021, respectively.

The following table reflects certain financial data of the Company’s reportable segments for the years ended December 31, 2023, 2022, and 2021 (in millions):

	Flatbed			Specialized			Consolidated
	Solutions Segment			Solutions Segment			Total
Year Ended December 31, 2023
Total revenue	$	644.9		$	924.5		$	1,569.4
Company freight		177.9			477.0			654.9
Owner operator freight		282.3			140.0			422.3
Brokerage		87.7			154.4			242.1
Logistics		4.8			55.1			59.9
Fuel surcharge		92.2			98.0			190.2
Income from operations		7.9			28.3			36.2
Depreciation		47.8			52.3			100.1
Amortization of intangible assets		2.4			4.0			6.4
Impairment		1.5			16.4			17.9
Restructuring		—			0.5			0.5
Non-cash operating lease expense		(0.1	)		—			(0.1	)
Interest expense		21.7			30.5			52.2
Total property and equipment additions		69.3			118.4			187.7
Year Ended December 31, 2022
Total revenue	$	769.0		$	1,004.3		$	1,773.3
Company freight		167.2			483.1			650.3
Owner operator freight		329.2			180.7			509.9
Brokerage		152.5			168.7			321.2
Logistics		4.1			49.7			53.8
Fuel surcharge		116.0			122.1			238.1
Income from operations		39.1			59.3			98.4
Depreciation		37.4			48.5			85.9
Amortization of intangible assets		3.0			3.9			6.9
Impairment		—			9.4			9.4
Restructuring		1.0			1.4			2.4
Non-cash operating lease expense		—			—			—
Interest expense		15.1			20.3			35.4
Total property and equipment additions		76.6			110.8			187.4
Year Ended December 31, 2021
Total revenue	$	690.0		$	866.8		$	1,556.8
Company freight		176.6			453.1			629.7
Owner operator freight		328.0			158.5			486.5
Brokerage		112.2			156.8			269.0
Logistics		4.9			34.3			39.2
Fuel surcharge		68.3			64.1			132.4
Income from operations		53.3			59.5			112.8
Depreciation		32.7			48.5			81.2
Amortization of intangible assets		3.0			3.9			6.9
Restructuring		—			0.3			0.3
Non-cash operating lease expense		0.9			(0.1	)		0.8
Interest expense		14.7			18.8			33.5
Total property and equipment additions		37.9			80.5			118.4

A measure of assets is not applicable, as segment assets are not regularly reviewed by the chief operating decision maker for evaluating performance or allocating resources.