Quarterly report pursuant to Section 13 or 15(d)

Discontinued Operation and Held for Sale (Tables)

v3.21.2
Discontinued Operation and Held for Sale (Tables)
 6 Months Ended
Jun. 30, 2021
Discontinued Operations and Disposal Groups [Abstract]  
Weighted Average Assumptions
The weighted-average assumptions under the Monte Carlo simulation model were as follows:

February 12, 2021
Counterparty credit spread 1.2%
Earnings before interest, taxes, depreciation and amortization discount rate 15.0%
Asset volatility 55.0%
Summarized Held for Sale and Discontinued Operations Financial Information
A summary of the results of operations classified as a discontinued operation, net of tax, in the Condensed Consolidated Statements of Comprehensive Income for the three and six months ended June 30, 2021 and 2020 is as follows:

  Three Months Ended Six Months Ended
  June 30,
2021		 June 30,
2020		 June 30,
2021		 June 30,
2020
Operating revenues $ —  $ 13,974  $ 17,087  $ 50,926 
Operating expenses:    
Purchased transportation —  3,147  4,290  12,683 
Salaries, wages and employee benefits —  8,394  9,674  25,507 
Operating leases —  4,966  2,907  10,646 
Depreciation and amortization —  362  —  1,657 
Insurance and claims —  1,287  929  3,013 
Fuel expense —  413  644  1,740 
Other operating expenses —  3,495  2,087  7,841 
Total operating expenses —  22,064  20,531  63,087 
Loss from discontinued operation —  (8,090) (3,444) (12,161)
Loss on sale of business —  —  (2,860) — 
Loss from discontinued operation before income taxes —  (8,090) (6,304) (12,161)
Income tax benefit —  (2,019) (771) (3,049)
Loss from discontinued operation, net of tax $ —  $ (6,071) $ (5,533) $ (9,112)