Quarterly report pursuant to Section 13 or 15(d)

Acquisitions and Goodwill (Tables)

v3.8.0.1
Acquisitions and Goodwill (Tables)
9 Months Ended
Sep. 30, 2017
Goodwill [Line Items]  
Schedule of Purchase Price Allocation [Table Text Block]
The following table presents the allocations of the Atlantic, Triumph and Ace purchase prices to the assets acquired and liabilities assumed based on their estimated fair values and resulting residual goodwill (in thousands):

Atlantic
Triumph & Ace

May 7, 2017
2016
Tangible assets:
 


Property and equipment
$
1,821

$
1,294

Total tangible assets
1,821

1,294

Intangible assets:
 


Non-compete agreements
1,150

139

Customer relationships
13,400

5,335

Goodwill
6,860

6,282

Total intangible assets
21,410

11,756

Total assets acquired
23,231

13,050


 

Liabilities assumed:
 

Other liabilities
590

1,250

Debt and capital lease obligations
141


Total liabilities assumed
731

1,250

Net assets acquired
$
22,500

$
11,800

Schedule of Acquired Finite-Lived Intangible Assets by Major Class [Table Text Block]
The acquired definite-lived intangible assets have the following useful lives:

Useful Lives

Atlantic
Triumph & Ace
Customer relationships
15 years
15 years
Non-compete agreements
5 years
5 years
Business Acquisition, Pro Forma Information [Table Text Block]
Schedule of Goodwill [Table Text Block]
The following is a summary of the changes to goodwill for the nine months ended September 30, 2017. Approximately $112,391 of goodwill is deductible for tax purposes.
 
Expedited LTL
 
TLS
 
Pool Distribution
 
Intermodal
 
Total
 
 
Accumulated
 
 
Accumulated
 
 
Accumulated
 
 
Accumulated
 
 
 
Goodwill
Impairment
 
Goodwill
Impairment
 
Goodwill
Impairment
 
Goodwill
Impairment
 
Net
Beginning balance, December 31, 2016
$
97,593

$


$
45,164

$
(25,686
)

$
12,359

$
(6,953
)

$
62,198

$


$
184,675

Atlantic Acquisition









6,860



6,860

Ending balance, September 30, 2017
$
97,593

$


$
45,164

$
(25,686
)

$
12,359

$
(6,953
)

$
69,058

$


$
191,535