Segment Information

9 Months Ended

Sep. 27, 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 thirty-nine-week and thirteen-week periods ended September 27, 2025 and September 28, 2024 (in thousands):

	Thirty-Nine Weeks Ended
	September 27, 2025						September 28, 2024
	Transportation Logistics		Insurance		Total		Transportation Logistics		Insurance		Total
External revenue	$	3,525,234	$	44,057	$	3,569,291	$	3,561,941	$	47,974	$	3,609,915
Internal revenue				64,110		64,110				65,411		65,411
Total revenue		3,525,234		108,167		3,633,401		3,561,941		113,385		3,675,326
Investment income				10,620		10,620				10,988		10,988
Purchased transportation		2,775,761				2,775,761		2,799,384				2,799,384
Commissions to agents		291,529				291,529		295,801				295,801
Other operating costs, net of gains on asset sales/dispositions		46,996				46,996		44,138				44,138
Insurance and claims		89,387		78,032		167,419		84,429		64,812		149,241
Selling, general and administrative		165,860		8,443		174,303		153,118		9,495		162,613
Depreciation and amortization		35,884				35,884		44,001				44,001
Impairment of intangible and other assets		30,104				30,104		—				—
Operating income		89,713		32,312		122,025		141,070		50,066		191,136
Goodwill		34,005				34,005		41,122				41,122
Operating income						122,025						191,136
Interest and debt expense (income) (1)						756						(4,455	)
Income before income taxes						121,269						195,591

	Thirteen Weeks Ended
	September 27, 2025						September 28, 2024
	Transportation Logistics		Insurance		Total		Transportation Logistics		Insurance		Total
External revenue	$	1,190,802	$	14,604	$	1,205,406	$	1,198,334	$	15,533	$	1,213,867
Internal revenue				11,017		11,017				12,065		12,065
Total revenue		1,190,802		25,621		1,216,423		1,198,334		27,598		1,225,932
Investment income				3,293		3,293				3,922		3,922
Purchased transportation		936,472				936,472		943,805				943,805
Commissions to agents		98,693				98,693		98,703				98,703
Other operating costs, net of gains on asset sales/dispositions		15,572				15,572		15,144				15,144
Insurance and claims		26,014		18,011		44,025		29,592		12,871		42,463
Selling, general and administrative		53,875		3,140		57,015		48,101		3,151		51,252
Depreciation and amortization		11,509				11,509		15,371				15,371
Impairment of intangible and other assets		30,104				30,104		—				—
Operating income		18,563		7,763		26,326		47,618		15,498		63,116
Operating income						26,326						63,116
Interest and debt expense (income) (1)						217						(1,169	)
Income before income taxes						26,109						64,285

(1) Interest and debt expense (income) includes (i) interest income earned on cash balances held by the transportation logistics segment of $3,549 and $7,296 in the 2025 and 2024 thirty-nine-week periods, respectively, and $1,140 and $2,251 in the 2025 and 2024 thirteen-week periods, respectively, and (ii) consolidated total interest expense of $4,305 and $2,841 in the 2025 and 2024 thirty-nine-week periods, respectively, and $1,357 and $1,082 in the 2025 and 2024 thirteen-week periods, respectively.

In the thirty-nine-week periods ended September 27, 2025 and September 28, 2024, no single customer accounted for more than 10% of the Company’s consolidated revenue.