Segment Information

3 Months Ended

Mar. 29, 2025

Segment Information

(6) Segment Information

The Company reports the results of two operating segments: the transportation logistics segment and the insurance segment. The Company’s chief operating decision maker (“CODM”) is our Chief Executive Officer. The CODM evaluates each segment’s performance and makes decisions about resource allocations primarily based on operating income, which is the principal financial metric utilized to monitor budgeted versus actual results by segment of the Company. Asset information by segment is not typically provided to the CODM for purposes of evaluating performance or allocating resources, and therefore such information has not been presented.

The following tables summarize information about the Company’s reportable business segments as of and for the thirteen-week periods ended March 29, 2025 and March 30, 2024 (in thousands):

	Transportation
	Logistics		Insurance		Total
2025
External revenue	$	1,137,745	$	14,757	$	1,152,502
Internal revenue		—		11,579		11,579
Total revenue		1,137,745		26,336		1,164,081
Investment income				3,598		3,598
Purchased transportation		897,878				897,878
Commissions to agents		93,314				93,314
Other operating costs, net of gains on asset sales/dispositions		11,829				11,829
Insurance and claims		33,856		17,575		51,431
Selling, general and administrative		59,426		2,156		61,582
Depreciation and amortization		12,226				12,226
Operating income		29,216		10,203		39,419
Goodwill		40,881				40,881

	Transportation
	Logistics		Insurance		Total
2024
External revenue	$	1,154,532	$	16,511	$	1,171,043
Internal revenue		—		12,069		12,069
Total revenue		1,154,532		28,580		1,183,112
Investment income				3,412		3,412
Purchased transportation		905,521				905,521
Commissions to agents		97,282				97,282
Other operating costs, net of gains on asset sales/dispositions		14,859				14,859
Insurance and claims		26,853		11,484		38,337
Selling, general and administrative		53,194		3,228		56,422
Depreciation and amortization		14,142				14,142
Operating income		42,681		17,280		59,961
Goodwill		42,381				42,381

	Thirteen Weeks Ended
	March 29, 2025			March 30, 2024
Operating income	$	39,419		$	59,961
Interest and debt (income) expense (1)		(159	)		(1,611	)
Income before income taxes		39,578			61,572

(1) Interest and debt (income) expense includes (i) interest income earned on cash balances held by the transportation logistics segment of $1,668 and $2,500 in the 2025 and 2024 thirteen-week periods, respectively and (ii) consolidated total interest expense of $1,509 and $889 in the 2025 and 2024 thirteen-week periods, respectively.

In the thirteen-week periods ended March 29, 2025 and March 30, 2024, no single customer accounted for more than 10% of the Company’s consolidated revenue.