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)
9 Months Ended
Sep. 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 nine months ended September 30, 2021 and 2020 is as follows:

  Three Months Ended Nine Months Ended
  September 30,
2021
September 30,
2020
September 30,
2021
September 30,
2020
Operating revenues $ —  $ 37,521  $ 17,087  $ 88,447 
Operating expenses:    
Purchased transportation —  8,700  4,290  21,383 
Salaries, wages and employee benefits —  17,012  9,674  42,519 
Operating leases —  5,304  2,907  15,950 
Depreciation and amortization —  —  —  1,657 
Insurance and claims —  1,525  929  4,538 
Fuel expense —  1,045  644  2,785 
Other operating expenses —  4,467  2,087  12,309 
   Impairment charge 6,967  —  6,967  — 
Total operating expenses 6,967  38,053  27,498  101,141 
Loss from discontinued operation (6,967) (532) (10,411) (12,694)
Loss on sale of business —  —  (2,860) — 
Loss from discontinued operation before income taxes (6,967) (532) (13,271) (12,694)
Income tax benefit —  (187) (771) (3,236)
Loss from discontinued operation, net of tax $ (6,967) $ (345) $ (12,500) $ (9,458)