XML 47 R4.htm IDEA: XBRL DOCUMENT v3.20.1
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Revenues:      
Total revenue $ 1,737.0 $ 1,613.1 $ 846.3
Operating expenses:      
Salaries, wages and employee benefits 483.2 407.4 250.0
Fuel 138.5 141.1 93.7
Operations and maintenance 213.1 181.5 118.4
Communications 4.4 3.3 2.1
Administrative expenses 75.5 58.5 33.2
Sales and marketing 5.1 3.4 2.0
Taxes and licenses 19.2 17.2 11.0
Insurance and claims 49.9 45.8 24.0
Acquisition-related transaction expenses   2.6 3.4
Depreciation and amortization 146.5 131.1 76.9
Gain on disposition of revenue property and equipment (5.2) (3.2) (0.7)
Impairment 312.8 13.9  
Restructuring charges 8.4    
Total operating expenses 2,049.1 1,591.2 839.3
Income (loss) from operations (312.1) 21.9 7.0
Other expense (income):      
Interest income (1.0) (1.3) (0.4)
Interest expense 50.4 45.5 29.5
Write-off of unamortized deferred financing fees 2.3   3.9
Other (1.8) (1.2) (0.7)
Total other expense 49.9 43.0 32.3
Loss before benefit for income taxes (362.0) (21.1) (25.3)
Benefit for income taxes (54.6) (15.9) (52.3)
Net income (loss) (307.4) (5.2) 27.0
Other comprehensive income:      
Unrealized income on interest rate swaps     0.1
Foreign currency translation adjustments, net of tax expense (benefit) of $0.3, $(0.5) and $0.5, respectively 0.5 (1.8) 0.9
Comprehensive income (loss) (306.9) (7.0) 28.0
Net income (loss) (307.4) (5.2) 27.0
Net income (loss) attributable to common stockholders $ (312.4) $ (10.1) $ 22.0
Net income (loss) per common share:      
Basic (in dollars per share) $ (4.86) $ (0.16) $ 0.59
Diluted (in dollars per share) $ (4.86) $ (0.16) $ 0.56
Weighted-average common shares outstanding:      
Basic (in shares) 64,303,438 61,654,820 37,592,549
Diluted (in shares) 64,303,438 61,654,820 39,593,701
Series A      
Other comprehensive income:      
Less dividends to convertible preferred stockholders $ (5.0) $ (4.9) $ (4.2)
Weighted-average common shares outstanding:      
Dividends declared per convertible preferred share $ 7.63 $ 7.63 $ 6.40
Series B      
Other comprehensive income:      
Less dividends to convertible preferred stockholders     $ (0.8)
Weighted-average common shares outstanding:      
Dividends declared per convertible preferred share     $ 12.50
Company freight      
Revenues:      
Total revenue $ 804.6 $ 721.7 $ 460.8
Operating expenses:      
Purchased freight 597.7 588.6 225.3
Owner operator freight      
Revenues:      
Total revenue 455.3 440.5 172.0
Brokerage      
Revenues:      
Total revenue 294.7 266.4 120.9
Logistics      
Revenues:      
Total revenue 47.5 42.8 22.1
Fuel      
Revenues:      
Total revenue $ 134.9 $ 141.7 $ 70.5