Segment Reporting

9 Months Ended

Sep. 30, 2021

Segment Reporting [Abstract]

Segment Reporting

Segment Reporting

The Company has two reportable segments: Expedited Freight and Intermodal. The Company evaluates segment performance based on income from operations. Segment results include intersegment revenues and shared costs.  Costs related to the corporate headquarters, shared services and shared assets, such as trailers, are allocated to each segment based on usage. Shared assets are not allocated to each segment, but rather the shared assets, such as trailers, are allocated to the Expedited Freight segment. Corporate includes revenues and expenses as well as assets that are not attributable to any of the Company’s reportable segments.

The accounting policies applied to each segment are the same as those described in the Summary of Significant Accounting Policies as disclosed in Note 1 to the Annual Report on Form 10-K for the year ended December 31, 2020, except for certain self-insurance loss reserves related to vehicle liability and workers’ compensation. Each segment is allocated an insurance premium and deductible that corresponds to the self-insured retention limit for that particular segment. Any self-insurance loss exposure beyond the deductible allocated to each segment is recorded in Corporate.      

Segment results from operations for the three and nine months ended September 30, 2021 and 2020 are as follows:

	Three Months Ended September 30, 2021
	Expedited Freight		Intermodal		Corporate		Eliminations		Consolidated - Continuing Operations
External revenues	$	341,461	$	78,164	$	—	$	—	$	419,625
Intersegment revenues	96		9		—		(105)		—
Depreciation	4,942		841		16		—		5,799
Amortization	1,842		1,775		—		—		3,617
Income (loss) from continuing operations	34,636		8,712		(872)		—		42,476
Purchases of property and equipment	13,769		671		—		—		14,440
	Three Months Ended September 30, 2020
	Expedited Freight		Intermodal		Corporate		Eliminations		Consolidated - Continuing Operations
External revenues	$	283,025	$	48,940	$	—	$	—	$	331,965
Intersegment revenues	489		8		—		(465)		32
Depreciation	4,981		789		36		—		5,806
Amortization	1,799		1,567		—		—		3,366
Income (loss) from continuing operations	23,461		4,837		(4,788)		—		23,510
Purchases of property and equipment	2,037		188		—		—		2,225

	Nine Months Ended September 30, 2021
	Expedited Freight		Intermodal		Corporate		Eliminations		Consolidated - Continuing Operations
External revenues	$	996,769	$	205,786	$	—	$	—	$	1,202,555
Intersegment revenues	709		34		—		(800)		(57)
Depreciation	14,924		2,475		42		—		17,441
Amortization	5,437		5,189		—		—		10,626
Income (loss) from continuing operations	93,854		21,607		(8,137)		—		107,324
Purchases of property and equipment	21,905		1,110		—		—		23,015
	Nine Months Ended September 30, 2020
	Expedited Freight		Intermodal		Corporate		Eliminations		Consolidated - Continuing Operations
External revenues	$	771,585	$	147,815	$	—	$	—	$	919,400
Intersegment revenues	1,216		21		—		(1,405)		(168)
Depreciation	14,897		2,923		79		—		17,899
Amortization	5,318		4,702		—		—		10,020
Income (loss) from continuing operations	50,394		12,963		(10,159)		—		53,198
Purchases of property and equipment	15,987		452		—		—		16,439
Total Assets
As of September 30, 2021	$	750,775	$	212,203	$	107,327	$	203	$	1,070,508
As of December 31, 2020	905,081		221,963		47,641		(201,391)		973,294

A reconciliation from the segment information to the consolidated balances for revenues and total assets is set forth below:

	Three Months Ended				Nine Months Ended
	September 30, 2021		September 30, 2020		September 30, 2021		September 30, 2020
Intersegment revenues - continuing operations	$	—	$	32	$	(57)	$	(168)
Intersegment revenues - discontinued operation	—		(32)		57		168
Consolidated intersegment revenues	$	—	$	—	$	—	$	—

	September 30, 2021		December 31, 2020
Segment assets - continuing operations	$	1,070,508	$	973,294
Current assets held for sale	—		21,002
Noncurrent assets held for sale	—		53,097
Consolidated total assets	$	1,070,508	$	1,047,393

Revenue from the individual services within the Expedited Freight segment for the three and nine months ended September 30, 2021 and 2020 are as follows:

	Three Months Ended				Nine Months Ended
	September 30, 2021		September 30, 2020		September 30, 2021		September 30, 2020
Expedited Freight revenues:
Network	$	207,656	$	169,300	$	606,213	$	455,482
Truckload	53,651		49,836		162,999		139,220
Final Mile	71,355		56,994		203,494		158,223
Other	8,895		7,384		24,772		19,876
Total	$	341,557	$	283,514	$	997,478	$	772,801