RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2020

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS

NOTE 11 – RELATED PARTY TRANSACTIONS

Related Party Leases

The Company leases certain office facilities, terminals and revenue equipment from entities owned or partially owned by stockholders or employees on operating leases. Total lease expense related to these leases was $2.9 million, $4.8 million and $4.7 million for the years ended December 31, 2020, 2019 and 2018, respectively. Future minimum lease payments under non-cancelable related party operating leases are as follows (in millions):

	Office and
Year ending December 31,	Terminals
2021	$	3.1
2022		3.1
2023		3.1
2024		3.1
2025		3.0
Thereafter		4.9
Total	$	20.3

Other Related Party Transactions

An employee and stockholder has a 1% investment in an entity that is also a Company vendor. Total amounts paid to this vendor for product and subscription purchases were approximately $0.4 million, $0.6 million and $0.6 million for the years ended December 31, 2020, 2019 and 2018, respectively. Amounts due to the vendor as of December 31, 2020 and 2019 totaled approximately $0 and $9,000, respectively.

The Company does business with an entity in which two employees, who are also stockholders, are minority owners. Revenue received from this customer totaled approximately $0.2 million, $0.4 million and $0.7 million for the years ended December 31, 2020, 2019 and 2018, respectively. Accounts receivable due from this entity totaled approximately $16,000 and $24,000 as of December 31, 2020 and 2019, respectively.

The Company sold equipment to an entity partially owned by an employee and stockholder for proceeds of $1.0 million with a net book value of $0.8 million, realizing a gain of $0.2 million for the year ended December 31, 2018. There were no such transactions for the years ended December 31, 2020 and 2019.

Additionally, the Company does business with a carrier owned by a stockholder’s spouse. Revenue received from this carrier totaled approximately $0.1 million, $1.8 million and $0.1 million for the years ended December 31, 2020, 2019 and 2018. Accounts receivable due from this entity totaled approximately $37,000 and $19,000 as of December 31, 2020 and 2019.