OPERATING SEGMENT DATA (Tables)

6 Months Ended

Jun. 30, 2019

OPERATING SEGMENT DATA

Schedule of reportable operating segment information

	Three Months Ended				Six Months Ended
	June 30				June 30
	2019		2018		2019		2018
	(in thousands)
REVENUES
Asset-Based	$	559,648	$	559,239	$	1,065,727	$	1,041,354
ArcBest		181,173		199,987		354,377		381,920
FleetNet		51,722		46,792		104,981		94,551
Other and eliminations		(21,053)		(12,668)		(41,756)		(24,474)
Total consolidated revenues	$	771,490	$	793,350	$	1,483,329	$	1,493,351
OPERATING EXPENSES
Asset-Based
Salaries, wages, and benefits	$	297,016	$	286,750	$	577,292	$	556,529
Fuel, supplies, and expenses		66,853		65,040		131,580		127,233
Operating taxes and licenses		12,214		11,910		24,612		23,666
Insurance		7,598		7,979		15,589		14,607
Communications and utilities		4,529		4,135		9,149		8,656
Depreciation and amortization		21,743		21,362		42,723		42,292
Rents and purchased transportation		57,687		63,253		107,599		109,386
Shared services		56,013		56,825		106,725		102,432
Multiemployer pension fund withdrawal liability charge(1)		—		37,922		—		37,922
Gain on sale of property and equipment		(1,587)		(266)		(1,621)		(399)
Other		1,404		948		2,286		2,247
Total Asset-Based		523,470		555,858		1,015,934		1,024,571
ArcBest
Purchased transportation		147,552		162,920		287,657		311,292
Supplies and expenses		2,858		3,538		5,632		6,768
Depreciation and amortization		3,055		3,597		6,206		7,005
Shared services		23,141		23,536		46,172		45,404
Other		2,445		2,546		4,858		4,427
Restructuring costs(2)		—		143		—		152
Total ArcBest		179,051		196,280		350,525		375,048
FleetNet		50,696		45,763		102,467		92,001
Other and eliminations		(16,927)		(7,707)		(29,388)		(14,150)
Total consolidated operating expenses	$	736,290	$	790,194	$	1,439,538	$	1,477,470

(1) ABF Freight recorded a one-time charge in second quarter 2018 for the multiemployer pension plan withdrawal liability resulting from the transition agreement with the New England Teamsters and Trucking Industry Pension Fund

(2) Restructuring costs relate to the realignment of the Company’s corporate structure as further described in Note N to the consolidated financial statements in Item 8 of the Company’s 2018 Annual Report on Form 10-K.

	Three Months Ended				Six Months Ended
	June 30				June 30
	2019		2018		2019		2018
	(in thousands)
OPERATING INCOME
Asset-Based	$	36,178	$	3,381	$	49,793	$	16,783
ArcBest		2,122		3,707		3,852		6,872
FleetNet		1,026		1,029		2,514		2,550
Other and eliminations		(4,126)		(4,961)		(12,368)		(10,324)
Total consolidated operating income	$	35,200	$	3,156	$	43,791	$	15,881
OTHER INCOME (COSTS)
Interest and dividend income	$	1,616	$	714	$	3,094	$	1,240
Interest and other related financing costs		(2,811)		(2,013)		(5,693)		(4,072)
Other, net(1)		(445)		(1,123)		(1,036)		(3,324)
Total other income (costs)		(1,640)		(2,422)		(3,635)		(6,156)
INCOME BEFORE INCOME TAXES	$	33,560	$	734	$	40,156	$	9,725

(1) Includes the components of net periodic benefit cost other than service cost related to the Company’s nonunion pension, SBP, and postretirement plans (see Note G) and proceeds and changes in cash surrender value of life insurance policies.

The following table presents operating expenses by category on a consolidated basis:

	Three Months Ended				Six Months Ended
	June 30				June 30
	2019		2018		2019		2018
	(in thousands)
OPERATING EXPENSES
Salaries, wages, and benefits	$	361,116	$	355,913	$	704,784	$	684,670
Rents, purchased transportation, and other costs of services		236,053		253,540		457,078		477,296
Fuel, supplies, and expenses		80,700		84,884		160,036		163,530
Depreciation and amortization(1)		27,434		27,187		53,971		53,673
Other		30,987		30,408		63,669		59,663
Multiemployer pension fund withdrawal liability charge(2)		—		37,922		—		37,922
Restructuring costs(3)		—		340		—		716
	$	736,290	$	790,194	$	1,439,538	$	1,477,470

(1) Includes amortization of intangible assets.

(2) ABF Freight recorded a one-time charge in second quarter 2018 for the multiemployer pension plan withdrawal liability resulting from the transition agreement with the New England Teamsters and Trucking Industry Pension Fund.

(3) Restructuring costs relate to the realignment of the Company’s corporate structure as further described in Note N to the consolidated financial statements in Item 8 of the Company’s 2018 Annual Report on Form 10-K.