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Segment Reporting
9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
The Company has three reportable segments: Expedited Freight, Intermodal and Omni Logistics. 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, 2023, 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, 2024 and 2023 are as follows:

 Three Months Ended September 30, 2024
 Expedited FreightIntermodalOmni LogisticsCorporateEliminationsConsolidated
External revenues$264,129 $57,270 $334,538 $— $— $655,937 
Intersegment revenues20,578 142 — — (20,720)— 
Depreciation9,029 2,020 3,346 — — 14,395 
Amortization1,452 2,562 7,484 — — 11,498 
Income (loss) from operations19,269 4,091 1,136 (1,799)— 22,697 
Purchases of property and equipment7,577 79 2,758 — — 10,414 
 Three Months Ended September 30, 2023
 Expedited FreightIntermodalOmni LogisticsCorporateEliminationsConsolidated
External revenues$278,841 $62,135 $— $— $— $340,976 
Intersegment revenues34 48 — — (82)— 
Depreciation8,018 2,626 — — — 10,644 
Amortization1,004 2,561 — — — 3,565 
Income (loss) from operations32,547 4,744 — (25,602)— 11,689 
Purchases of property and equipment5,223 21 — — — 5,244 

Revenue from the individual services within the Expedited Freight segment for the three and nine months ended September 30, 2024 and 2023 are as follows:

 Three Months EndedNine Months Ended
 September 30, 2024September 30, 2023September 30, 2024September 30, 2023
Expedited Freight revenues:  
Network$217,289 $216,977 $655,116 $628,670 
Truckload43,635 38,800 125,368 120,976 
Other23,783 23,098 68,800 68,242 
Total$284,707 $278,875 $849,284 $817,888 
 Nine Months Ended September 30, 2024
 Expedited FreightIntermodalOmni LogisticsCorporateEliminationsConsolidated
External revenues$797,483 $172,701 $871,232 $— $— $1,841,416 
Intersegment revenues51,801 302 — — (52,103)— 
Depreciation27,282 6,234 9,468 — — 42,984 
Amortization4,181 7,687 51,469 — — 63,337 
Income (loss) from operations60,713 12,994 (1,133,323)(79,175)— (1,138,791)
Purchases of property and equipment16,502 1,629 11,679 — — 29,810 
 Nine Months Ended September 30, 2023
 Expedited FreightIntermodalOmni LogisticsCorporateEliminationsConsolidated
External revenues$817,785 $214,522 $— $— $— $1,032,307 
Intersegment revenues103 81 — — (184)— 
Depreciation22,123 7,056 — — — 29,179 
Amortization2,964 7,683 — — — 10,647 
Income (loss) from operations89,295 20,259 — (24,344)— 85,210 
Purchases of property and equipment21,496 584 — — — 22,080 
Total Assets
As of September 30, 2024$674,896 $261,081 $1,971,503 $148,378 $(18)$3,055,840 
As of December 31, 2023661,270 270,421 — 2,047,901 (59)2,979,533