Summary of Segment Information |
Segment results from operations for the three and nine months ended September 30, 2022 and 2021 are as follows:
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Three Months Ended September 30, 2022 |
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Expedited Freight |
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Intermodal |
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Corporate |
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Eliminations |
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Consolidated - Continuing Operations |
External revenues |
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$ |
395,607 |
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$ |
114,416 |
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$ |
— |
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$ |
— |
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$ |
510,023 |
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Intersegment revenues |
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28 |
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5 |
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— |
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(33) |
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— |
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Depreciation |
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6,331 |
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1,782 |
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— |
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— |
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8,113 |
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Amortization |
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1,809 |
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2,347 |
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— |
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— |
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4,156 |
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Income (loss) from continuing operations |
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56,304 |
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16,610 |
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(1,249) |
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— |
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71,665 |
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Purchases of property and equipment |
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6,434 |
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294 |
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— |
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— |
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6,728 |
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Three Months Ended September 30, 2021 |
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Expedited Freight |
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Intermodal |
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Corporate |
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Eliminations |
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Consolidated - Continuing Operations |
External revenues |
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$ |
341,461 |
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$ |
78,164 |
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$ |
— |
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$ |
— |
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$ |
419,625 |
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Intersegment revenues |
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96 |
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9 |
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— |
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(105) |
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— |
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Depreciation |
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4,942 |
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841 |
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16 |
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— |
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5,799 |
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Amortization |
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1,842 |
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1,775 |
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— |
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— |
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3,617 |
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Income (loss) from continuing operations |
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34,636 |
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8,712 |
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(872) |
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— |
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42,476 |
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Purchases of property and equipment |
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13,769 |
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671 |
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— |
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— |
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14,440 |
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Nine Months Ended September 30, 2022 |
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Expedited Freight |
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Intermodal |
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Corporate |
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Eliminations |
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Consolidated - Continuing Operations |
External revenues |
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$ |
1,180,947 |
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$ |
311,256 |
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$ |
— |
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$ |
— |
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$ |
1,492,203 |
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Intersegment revenues |
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136 |
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16 |
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— |
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(152) |
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— |
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Depreciation |
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18,010 |
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4,766 |
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101 |
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— |
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22,877 |
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Amortization |
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5,428 |
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6,689 |
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— |
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— |
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12,117 |
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Income (loss) from continuing operations |
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167,091 |
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43,005 |
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(5,535) |
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— |
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204,561 |
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Purchases of property and equipment |
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24,155 |
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1,246 |
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— |
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— |
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25,401 |
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Nine Months Ended September 30, 2021 |
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Expedited Freight |
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Intermodal |
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Corporate |
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Eliminations |
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Consolidated - Continuing Operations |
External revenues |
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$ |
996,769 |
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$ |
205,786 |
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$ |
— |
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$ |
— |
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$ |
1,202,555 |
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Intersegment revenues |
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709 |
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34 |
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— |
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(800) |
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(57) |
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Depreciation |
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14,924 |
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2,475 |
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42 |
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— |
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17,441 |
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Amortization |
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5,437 |
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5,189 |
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— |
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— |
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10,626 |
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Income (loss) from continuing operations |
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93,854 |
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21,607 |
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(8,137) |
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— |
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107,324 |
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Purchases of property and equipment |
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21,905 |
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1,110 |
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— |
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— |
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23,015 |
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Total Assets |
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As of September 30, 2022 |
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$ |
698,313 |
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$ |
304,378 |
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$ |
183,409 |
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$ |
(41) |
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$ |
1,186,059 |
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As of December 31, 2021 |
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777,987 |
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249,467 |
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90,588 |
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(219) |
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1,117,823 |
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A reconciliation from the segment information to the consolidated balances for revenues is set forth below:
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Three Months Ended |
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Nine Months Ended |
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September 30, 2022 |
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September 30, 2021 |
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September 30, 2022 |
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September 30, 2021 |
Intersegment revenues - continuing operations |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
(57) |
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Intersegment revenues - discontinued operation |
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— |
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— |
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— |
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57 |
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Consolidated intersegment revenues |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
— |
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Revenue from the individual services within the Expedited Freight segment for the three and nine months ended September 30, 2022 and 2021 are as follows:
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Three Months Ended |
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Nine Months Ended |
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September 30, 2022 |
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September 30, 2021 |
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September 30, 2022 |
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September 30, 2021 |
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Expedited Freight revenues: |
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Network |
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$ |
240,482 |
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$ |
199,360 |
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$ |
726,054 |
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$ |
579,373 |
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Truckload |
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55,607 |
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53,651 |
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171,659 |
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162,999 |
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Final Mile |
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76,822 |
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71,355 |
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215,608 |
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203,494 |
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Other |
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22,724 |
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17,191 |
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67,762 |
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51,612 |
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Total |
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$ |
395,635 |
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$ |
341,557 |
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$ |
1,181,083 |
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$ |
997,478 |
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