NOTE 16 – REPORTABLE SEGMENTS

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 a corporate segment, which is not an operating segment and includes acquisition transaction expenses, corporate salaries, interest expense and other corporate administrative expenses and intersegment eliminations.

The Company’s operating segments also 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 consolidated results. Intersegment revenues and expenses for the Flatbed Solutions segment totaled $1.3 million and $0.7 million for the three months ended June 30, 2018 and 2017, respectively, and $2.1 million and $1.7 million for the six months ended June 30, 2018 and 2017, respectively. Intersegment revenues and expenses for the Specialized Solutions segment totaled $2.4 million and $0.8 million for the three months ended June 30, 2018 and 2017, respectively, and $3.9 million and $1.4 million for the six months ended June 30, 2018 and 2017, respectively.

The following tables reflect certain financial data of the Company’s reportable segments for the three and six months ended June 30, 2018 and 2017 (in thousands):


	Flatbed		Specialized
	Solutions		Solutions		Corporate/		Consolidated
	Segment		Segment		Eliminations		Total
Three Months Ended June 30, 2018
Total revenue	$	162,179	$	218,358	$	(3,638)	$	376,899
Operating income (loss)		9,269		7,106		(7,867)		8,508
Depreciation		6,726		18,776		25		25,527
Amortization of intangible assets		2,508		3,731		—		6,239
Interest expense		1,957		2,729		6,384		11,070
Income (loss) before income tax		7,436		4,551		(13,048)		(1,061)
Total assets		409,537		857,264		57,301		1,324,102
Capital expenditures		1,865		21,459		219		23,543

Three Months Ended June 30, 2017
Total revenue	$	86,898	$	111,985	$	(1,560)	$	197,323
Operating income (loss)		6,322		4,589		(6,447)		4,464
Depreciation		6,823		9,334		39		16,196
Amortization of intangible assets		437		1,005		—		1,442
Interest expense		1,722		1,838		2,984		6,544
Income (loss) before income tax		4,623		2,852		(9,398)		(1,923)
Total assets		276,726		382,679		35,590		694,995
Capital expenditures		138		5,150		24		5,312

	Flatbed		Specialized
	Solutions		Solutions		Corporate/		Consolidated
	Segment		Segment		Eliminations		Total
Six Months Ended June 30, 2018
Total revenue	$	307,187	$	403,246	$	(5,953)	$	704,480
Operating income (loss)		16,232		12,251		(12,218)		16,265
Depreciation		13,669		35,090		56		48,815
Amortization of intangible assets		2,945		5,188		—		8,133
Interest expense		3,805		5,234		12,368		21,407
Income (loss) before income tax		12,632		8,176		(23,049)		(2,241)
Capital expenditures		2,396		28,317		410		31,123

Six Months Ended June 30, 2017
Total revenue	$	168,202	$	192,658	$	(3,103)	$	357,757
Operating income (loss)		10,201		5,596		(12,181)		3,616
Depreciation		13,905		17,086		78		31,069
Amortization of intangible assets		874		2,010		—		2,884
Interest expense		3,486		3,694		5,260		12,440
Income (loss) before income tax		6,728		1,943		(21,109)		(12,438)
Capital expenditures		224		6,534		48		6,806