Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Disaggregation of Revenue

he Company has determined it has one reporting segment and the composition of our revenue is summarized below with LTL shipments defined as shipments less than 10,000 pounds that move in our network.

(in millions)	Year Ended December 31, 2022		Year Ended December 31, 2021		Year Ended December 31, 2020
LTL revenue	$	4,719.3	$	4,605.9	$	4,093.3
Other revenue(a)		525.4		515.9		420.4
Total revenue	$	5,244.7	$	5,121.8	$	4,513.7

(a)Other revenue is primarily comprised of truckload shipments.

Schedule of Undiscounted Amounts and Material Changes in Insurance Claims

Expected aggregate undiscounted amounts and material changes to these amounts related to workers’ compensation and third-party liability claims, as of December 31 are presented below:

(in millions)	Workers’ Compensation			Third-Party Liability Claims			Total
Undiscounted settlement cost estimate at December 31, 2020	$	275.2		$	70.0			345.2
Estimated settlement cost for 2021 claims		92.4			38.1			130.5
Claim payments, net of recoveries		(94.8	)		(41.0	)		(135.8	)
Change in estimated settlement cost for prior claim years		(5.5	)		38.6			33.1
Undiscounted settlement cost estimate at December 31, 2021	$	267.3		$	105.7		$	373.0
Estimated settlement cost for 2022 claims		84.3			36.6			120.9
Claim payments, net of recoveries		(86.5	)		(76.8	)		(163.3	)
Change in estimated settlement cost for prior claim years		(20.4	)		36.9			16.5
Undiscounted settlement cost estimate at December 31, 2022	$	244.7		$	102.4		$	347.1
Discounted settlement cost estimate at December 31, 2022	$	225.7		$	99.5		$	325.2

Schedule of Estimated Cash Payments to Settle Claims

Estimated cash payments to settle claims, exclusive of cargo claims, which were incurred on or before December 31, 2022, for the next five years and thereafter are as follows:

(in millions)	Workers’ Compensation		Third-Party Liability Claims		Total
2023	$	70.0	$	36.2	$	106.2
2024		43.3		27.7		71.0
2025		28.1		18.0		46.1
2026		18.2		10.8		29.0
2027		13.2		5.5		18.7
Thereafter		71.9		4.2		76.1
Total	$	244.7	$	102.4	$	347.1

Summary of Components of Property and Equipment

The following is a summary of the components of our property and equipment at cost at December 31:

(in millions)	2022		2021
Land	$	230.7	$	235.4
Structures		782.8		798.0
Revenue equipment		1,455.2		1,537.1
Technology equipment and software		412.9		372.3
Other, including miscellaneous field operations equipment		227.4		221.8
Total property and equipment, at cost	$	3,109.0	$	3,164.6

Schedule of Service Lives for Property and Equipment

We carry property and equipment at cost less accumulated depreciation. We compute depreciation using the straight-line method based on the following service lives:

	Years
Structures	10 - 30
Revenue equipment	10 - 20
Technology equipment and software	3 - 7
Other	3 - 10