Annual report pursuant to Section 13 and 15(d)

Segment Reporting (Notes)

v3.10.0.1
Segment Reporting (Notes)
 12 Months Ended
Dec. 31, 2018
Segment Reporting [Abstract]  
Segment Reporting
Segment Reporting
 
The Company has four reportable segments based on information available to and used by the chief operating decision maker.  Expedited LTL operates a comprehensive national network that provides expedited regional, inter-regional and national LTL and final mile services. The TLS segment provides expedited truckload brokerage, dedicated fleet services and high security and temperature-controlled logistics services. The Intermodal segment primarily provides first- and last-mile high value intermodal container drayage services both to and from seaports and railheads. Pool Distribution provides high-frequency handling and distribution of time sensitive product to numerous destinations.

Except for certain insurance activity, the accounting policies of the segments are the same as those described in the summary of significant accounting policies disclosed in Note 1. For workers compensation and vehicle claims each segment is charged an insurance premium and is also charged a deductible that corresponds with our corporate deductibles disclosed in Note 1. However, any losses beyond our deductibles and any loss development factors applied to our outstanding claims as a result of actuary analysis are not passed to the segments, but recorded at the corporate level within Eliminations and Other.

Segment data includes intersegment revenues.  Costs of the corporate headquarters and shared services are allocated to the segments based on usage. The expense associated with shared operating assets, such as trailers, are allocated between operating segments based on usage. However, the carrying value of the asset's basis are not allocated. The Company evaluates the performance of its segments based on income from operations.  The Company’s business is conducted in the U.S. and Canada.
 
    
The following tables summarize segment information about results from operations and assets used by the chief operating decision maker of the Company in making decisions regarding allocation of assets and resources as of and for the years ended December 31, 2018, 2017 and 2016.   

Year ended December 31, 2018
 
Expedited LTL
 
Truckload Premium Services
 
Pool Distribution
 
Intermodal
 
Eliminations & Other
 
Consolidated
External revenues
 
$
740,332

 
$
186,114

 
$
193,690

 
$
200,750

 
$
—

 
$
1,320,886

Intersegment revenues
 
7,230

 
6,468

 
427

 
256

 
(14,381
)
 
—

Depreciation and amortization
 
22,523

 
6,429

 
6,900

 
6,329

 
2

 
42,183

Share-based compensation expense
 
7,761

 
696

 
453

 
984

 
655

 
10,549

Interest expense
 
1

 
(21
)
 
—

 
58

 
1,745

 
1,783

Income (loss) from operations
 
96,385

 
5,055

 
5,870

 
23,266

 
(8,545
)
 
122,031

Total assets
 
478,888

 
71,163

 
64,306

 
167,002

 
(21,144
)
 
760,215

Capital expenditures
 
38,520

 
190

 
2,729

 
854

 
—

 
42,293


Year ended December 31, 2017 (As Adjusted)
 
Expedited LTL
 
Truckload Premium Services
 
Pool Distribution
 
Intermodal
 
Eliminations & Other
 
Consolidated
External revenues
 
$
652,304

 
$
194,402

 
$
168,194

 
$
154,446

 
$
—

 
$
1,169,346

Intersegment revenues
 
3,534

 
7,350

 
289

 
238

 
(11,411
)
 
—

Depreciation and amortization
 
22,103

 
6,328

 
6,773

 
5,848

 
3

 
41,055

Share-based compensation expense
 
6,776

 
378

 
387

 
562

 
—

 
8,103

Interest expense
 
3

 
2

 
—

 
48

 
1,156

 
1,209

Income (loss) from operations
 
87,969

 
3,215

 
6,378

 
12,963

 
(1,768
)
 
108,757

Total assets
 
440,823

 
65,829

 
55,970

 
149,150

 
(19,150
)
 
692,622

Capital expenditures
 
36,650

 
33

 
1,068

 
514

 
—

 
38,265


Year ended December 31, 2016 ( As Adjusted)
 
Expedited LTL
 
Truckload Premium Services
 
Pool Distribution
 
Intermodal
 
Eliminations & Other
 
Consolidated
External revenues
 
$
593,472

 
$
179,989

 
$
151,245

 
$
105,504

 
$
—

 
$
1,030,210

Intersegment revenues
 
3,067

 
1,018

 
607

 
160

 
(4,852
)
 
—

Depreciation and amortization
 
21,919

 
6,441

 
5,975

 
3,876

 
(1
)
 
38,210

Share-based compensation expense
 
7,209

 
332

 
334

 
459

 
—

 
8,334

Impairment of goodwill and other intangible assets
 
—

 
42,442

 
—

 
—

 
—

 
42,442

Interest expense
 
1,687

 
3

 
—

 
83

 
(176
)
 
1,597

Income (loss) from operations
 
83,142

 
(35,409
)
 
3,633

 
11,060

 
(2,723
)
 
59,703

Total assets
 
443,077

 
53,695

 
50,271

 
130,295

 
(33,290
)
 
644,048

Capital expenditures
 
37,501

 
1,828

 
2,637

 
220

 
—

 
42,186