On August 31, 2018, Hub Group, Inc. entered into the Purchase Agreement with Mode Transportation, LLC (“Mode”), a direct wholly-owned subsidiary of the Company, and Mode Purchaser, Inc., an affiliate of York Capital Management (“Purchaser”) pursuant to which the Company sold all of the issued and outstanding membership interests of Mode to Purchaser (the “Disposition”). Total consideration received by the Company for the Disposition in the third quarter of 2018 was $238.5 million in cash, subject to customary purchase price adjustments. An additional $19.4 million consideration receivable was recorded in other receivables in the Consolidated Balance Sheet in the fourth quarter of 2018 due to the settlement of the net working capital and other contractual adjustments. The $19.4 million consideration receivable was received in the first quarter of 2019.

During the three months ended June 30, 2018, Mode had revenue of $18.0 million from Hub and Hub had revenue of $5.3 million from Mode. During the six months ended June 30, 2018 Mode LLC had revenue of $31.5 million from Hub and Hub had revenue of $15.2 million from Mode LLC. These sales were eliminated on our Consolidated Statements of Income. In connection with the Disposition, the Company and Mode entered into a transition services agreement pursuant to which both the Company and Mode provided certain immaterial transition services to the other party. The agreement was completed during the second quarter of 2019.

The 2018 results associated with Mode are classified as income from discontinued operations, net of income taxes, in our Consolidated Statements of Income. Income from discontinued operations is comprised of the following:

	Three Months Ended			Six Months Ended
	June 30, 2018			June 30, 2018
Revenue	$	284,360		$	542,988
Transportation costs		249,161			476,037
Gross margin		35,199			66,951

Costs and expenses:
Salaries and benefits		4,022			7,726
General and administrative		24,392			45,600
Depreciation and amortization		237			479
Total costs and expenses		28,651			53,805

Operating income from discontinued operations		6,548			13,146

Other income (expense)
Interest income		8			18
Other, net		(8	)		(13	)
Total other income		-			5

Income from discontinued operations before income taxes		6,548			13,151
Provision for income taxes		1,651			3,156

Income from discontinued operations	$	4,897		$	9,995

Selling, general and administrative expenses recorded in discontinued operations include corporate costs incurred directly in support of Mode.

The receipt of the consideration receivable from Mode has been presented in the Consolidated Statements of Cash Flows under investing activities for the six months ended June 30, 2019. Total operating and investing cash flows of discontinued operations for the six months ended June 30, 2018 are comprised of the following, which exclude the effect of income taxes: