Annual report pursuant to Section 13 and 15(d)

Segment Reporting (Notes)

v3.6.0.2
Segment Reporting (Notes)
 12 Months Ended
Dec. 31, 2016
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 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.

During the first quarter of 2016, the Company changed its reportable segments to separate its truckload and intermodal businesses from our Expedited LTL service and to aggregate reporting for truckload services into a single segment. The Company previously reported three segments: Forward Air, Forward Air Solutions and Total Quality, Inc. Consequently, the Company now reports four segments: Expedited LTL, Truckload Premium Services, Intermodal and Pool Distribution. All prior year segment amounts have been restated to reflect this new reporting structure.
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 the 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 kept at the corporate level.

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, asset basis is 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, 2016, 2015 and 2014.   

Year ended December 31, 2016
 
Expedited LTL
 
Truckload Premium Services
 
Pool Distribution
 
Intermodal
 
Eliminations & Other
 
Consolidated
External revenues
 
$
567,711

 
$
163,254

 
$
148,054

 
$
103,511

 
$
—

 
$
982,530

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
 
83,518

 
(35,405
)
 
3,633

 
10,956

 
(2,723
)
 
59,979

Total assets
 
632,698

 
53,695

 
50,271

 
129,714

 
(225,087
)
 
641,291

Capital expenditures
 
37,501

 
1,828

 
2,637

 
220

 
—

 
42,186


Year ended December 31, 2015
 
Expedited LTL
 
Truckload Premium Services
 
Pool Distribution
 
Intermodal
 
Eliminations & Other
 
Consolidated
External revenues
 
$
573,476

 
$
152,251

 
$
128,826

 
$
103,977

 
$
595

 
$
959,125

Intersegment revenues
 
3,550

 
1,080

 
1,169

 
315

 
(6,114
)
 
—

Depreciation and amortization
 
21,125

 
6,206

 
6,003

 
3,773

 
50

 
37,157

Share-based compensation expense
 
6,088

 
840

 
300

 
258

 
—

 
7,486

Interest expense
 
1,959

 
5

 
—

 
83

 
—

 
2,047

Income (loss) from operations
 
79,193

 
13,288

 
3,820

 
11,949

 
(26,478
)
 
81,772

Total assets
 
641,360

 
89,312

 
46,970

 
118,081

 
(195,791
)
 
699,932

Capital expenditures
 
29,995

 
5,972

 
3,983

 
545

 
—

 
40,495

 
 
 
 
 
 
 
 
 
 
 
 
 
Year ended December 31, 2014
 
Expedited LTL
 
Truckload Premium Services
 
Pool Distribution
 
Intermodal
 
Eliminations & Other
 
Consolidated
External revenues
 
$
456,230

 
$
131,478

 
$
117,429

 
$
75,822

 
$
—

 
$
780,959

Intersegment revenues
 
2,673

 
1,788

 
831

 
123

 
(5,415
)
 
—

Depreciation and amortization
 
16,580

 
5,405

 
5,754

 
3,365

 
29

 
31,133

Share-based compensation expense
 
5,561

 
717

 
259

 
144

 
—

 
6,681

Interest expense
 
523

 
6

 
2

 
79

 
—

 
610

Income (loss) from operations
 
75,754

 
8,986

 
4,543

 
7,428

 
(305
)
 
96,406

Total assets
 
494,522

 
88,789

 
45,428

 
110,055

 
(199,485
)
 
539,309

Capital expenditures
 
25,764

 
6,184

 
7,133

 
406

 
—

 
39,487