| Schedule of Business Acquisitions, by Acquisition [Table Text Block] |
The following table presents the allocations of the previously discussed acquisition purchase prices to the assets acquired and liabilities assumed based on their estimated fair values and resulting residual goodwill (in thousands):
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FSA |
OST |
Linn Star |
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April 21, 2019 |
July 14, 2019 |
January 12, 2020 |
Tangible assets: |
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Cash |
$ |
202 |
|
$ |
— |
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$ |
1,308 |
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Other receivables |
1,491 |
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— |
|
— |
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Prepaid expenses and other current assets |
— |
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— |
|
1,182 |
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Property and equipment |
40 |
|
10,371 |
|
605 |
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Operating lease right-of-use assets |
3,209 |
|
1,672 |
|
10,011 |
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Total tangible assets |
4,942 |
|
12,043 |
|
13,106 |
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Intangible assets: |
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Non-compete agreements |
900 |
|
850 |
|
650 |
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Customer relationships |
17,900 |
|
5,700 |
|
33,300 |
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Goodwill |
19,963 |
|
2,050 |
|
21,534 |
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Total intangible assets |
38,763 |
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8,600 |
|
55,484 |
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Total assets acquired |
43,705 |
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20,643 |
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68,590 |
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Liabilities assumed: |
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Current liabilities |
8,466 |
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— |
|
1,340 |
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Other liabilities |
5,030 |
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— |
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— |
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Debt and finance lease obligations |
— |
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6,971 |
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— |
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Operating lease obligations |
3,209 |
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1,672 |
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10,011 |
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Total liabilities assumed |
16,705 |
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8,643 |
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11,351 |
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Net assets acquired |
$ |
27,000 |
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$ |
12,000 |
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$ |
57,239 |
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| Schedule of Goodwill [Table Text Block] |
The following is a summary of the Company's goodwill as of March 31, 2020. Approximately $163,496 of goodwill is deductible for tax purposes.
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Beginning balance, December 31, 2019 |
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Linn Star Acquisition |
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Ending balance, March 31, 2020 |
Expedited LTL |
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Goodwill |
$ |
97,593 |
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$ |
— |
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$ |
97,593 |
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Accumulated Impairment |
— |
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— |
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— |
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Truckload |
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Goodwill |
45,164 |
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— |
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45,164 |
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Accumulated Impairment |
(25,686 |
) |
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— |
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(25,686 |
) |
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Final Mile |
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Goodwill |
19,963 |
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21,534 |
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41,497 |
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Accumulated Impairment |
— |
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— |
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— |
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Intermodal |
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Goodwill |
78,665 |
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— |
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78,665 |
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Accumulated Impairment |
— |
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— |
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— |
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Pool Distribution |
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Goodwill |
12,359 |
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— |
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12,359 |
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Accumulated Impairment |
(6,953 |
) |
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— |
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(6,953 |
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Total |
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Goodwill |
253,744 |
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|
21,534 |
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275,278 |
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Accumulated Impairment |
(32,639 |
) |
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— |
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(32,639 |
) |
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$ |
221,105 |
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$ |
21,534 |
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$ |
242,639 |
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