19.	RELATED PARTY TRANSACTIONS

In the normal course of business, transactions for transportation and repair services, equipment, property leases and other services are conducted between the Company and companies affiliated with our Chairman and controlling stockholder. The Company recognized approximately

$2,691,000,

$2,854,000

and

$585,000

in operating revenue and approximately

$9,190,000,

$9,859,000

and

$7,497,000

in operating expenses in

2019,

2018,

and

2017,

respectively.

The Company purchased physical damage, auto liability, general liability, and workers’ compensation insurance through an unaffiliated insurance broker which was written by an insurance company affiliated with our Chairman and controlling stockholder. The premiums for physical damage coverage were approximately

$0,

$1,271,000

and

$1,808,000

for

2019,

2018,

and

2017,

respectively. Premiums for auto liability coverage during

2019,

2018,

and

2017

were approximately

$10,345,000,

$10,987,000,

and

$10,860,000,

respectively. Premiums for general liability coverage during

2019,

2018,

and

2017

were approximately

$0,

$24,000

and

$35,000,

respectively. Premiums for workers’ compensation coverage during

2019,

2018,

and

2017

were approximately

$266,000,

$301,000

and

$286,000,

respectively.

Amounts owed to the Company by these affiliates were approximately

$1,052,000

and

$149,000

December 31, 2019

and

2018,

respectively. Of the accounts receivable at

December 31, 2019

and

2018,

approximately

$1,052,000

and

$147,000

represent freight transportation and approximately

and

$2,000

represent revenue resulting from maintenance performed in the Company’s maintenance facilities and charges paid by the Company to

third

parties on behalf of their affiliate and charged back at the amount paid, respectively. Amounts representing prepaid insurance premiums at

December 31, 2019

and

2018

were approximately

and

$29,000,

respectively. Amounts payable to affiliates at

December 31, 2019

and

2018

were approximately

$961,000

and

$2,161,000

respectively.

An insurance company affiliated with our Chairman and controlling stockholder has specific knowledge, experience and expertise related to self-insured claims development and assists the Company in establishing fully developed reserve estimates related to certain auto liability claims in excess of

$1.0

million.