RESTRUCTURING AND IMPAIRMENT COSTS

12 Months Ended

Dec. 31, 2025

Restructuring and Related Activities [Abstract]

RESTRUCTURING AND IMPAIRMENT COSTS

RESTRUCTURING AND IMPAIRMENT COSTS

In the fourth quarter of 2025, we recognized expense of $44.2 million in restructuring and impairment on the consolidated statements of income. During the fourth quarter 2025, we began to incur costs in connection with the strategic restructuring of our One-Way Truckload business to enhance long-term profitability and fleet utilization by maximizing production and mitigating unprofitable freight. Key steps in this initiative included exiting selective unprofitable regional and short-haul truckload freight, further integrating our one-way acquisition operations, and a further shift in the One-Way Truckload fleet composition toward more specialized, expedited (“Expedited”), and team capacity. This repositioning is focused on eliminating underperforming business. The restructuring reflects the necessary steps to rationalize our assets and business model for future margin expansion. These costs, collectively referred to as “restructuring and impairment costs”, are comprised of $21.7 million of impairment on trademark and customer relationship intangible assets, $14.4 million of impairment on revenue equipment, $6.6 million of other revenue equipment costs, and $1.5 million relating to the removal of prepaid expenses, inventory, and other current assets. These costs are recorded in our One-Way Truckload operating segment within our TTS reportable segment. There may be changes in previously recorded estimates as assets are sold, payments are made, and further restructuring actions are completed. All restructuring and impairment activities are expected to be completed by the end of 2026. The following table summarizes our restructuring and impairment activity during 2025, which is included in other current liabilities on the consolidated balance sheets (in thousands).

	Intangible Asset Impairment		Revenue Equipment Impairment		Other Revenue Equipment Costs		Current Assets		Total
Balance at December 31, 2024	$	—	$	—	$	—	$	—	$	—
Restructuring and impairment provision	21,735		14,360		6,643		1,487		44,225
Charges against provision	(21,735)		(14,360)		—		(1,487)		(37,582)
Balance at December 31, 2025	$	—	$	—	$	6,643	$	—	$	6,643