Universal Logistics (ULH) 10-Q 12 Aug 21 2021 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jul. 03, 2021	Aug. 09, 2021
Document Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jul. 3, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Trading Symbol	ULH
Entity Registrant Name	UNIVERSAL LOGISTICS HOLDINGS, INC.
Entity Central Index Key	0001308208
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Shell Company	false
Entity Small Business	true
Entity Emerging Growth Company	false
Entity File Number	0-51142
Entity Tax Identification Number	38-3640097
Entity Address, Address Line One	12755 E. Nine Mile Road
Entity Address, City or Town	Warren
Entity Address, State or Province	MI
Entity Address, Postal Zip Code	48089
City Area Code	586
Local Phone Number	920-0100
Title of 12(b) Security	Common Stock, no par value
Security Exchange Name	NASDAQ
Document Quarterly Report	true
Document Transition Report	false
Entity Incorporation, State or Country Code	MI
Entity Common Stock, Shares Outstanding		26,919,455

Unaudited Consolidated Balance

Unaudited Consolidated Balance Sheets - USD ($) $ in Thousands	Jul. 03, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 13,098	$ 8,763
Marketable securities	7,915	6,534
Accounts receivable – net of allowance for doubtful accounts of $5,676 and $5,140, respectively	285,432	259,154
Other receivables	26,075	22,422
Prepaid expenses and other	25,613	23,427
Due from affiliates	1,026	1,224
Total current assets	359,159	321,524
Property and equipment – net of accumulated depreciation of $314,451 and $298,789, respectively	350,340	364,795
Operating lease right-of-use asset	100,376	97,820
Goodwill	170,730	170,730
Intangible assets – net of accumulated amortization of $100,565 and $93,574, respectively	95,245	102,236
Deferred income taxes	2,159	2,159
Other assets	4,211	3,785
Total assets	1,082,220	1,063,049
Current liabilities:
Accounts payable	104,258	97,916
Current portion of long-term debt	60,008	59,713
Current portion of operating lease liabilities	23,264	21,920
Accrued expenses and other current liabilities	41,364	39,588
Insurance and claims	26,987	25,022
Due to affiliates	13,979	17,093
Income taxes payable	5,348	11,555
Total current liabilities	275,208	272,807
Long-term liabilities:
Long-term debt, net of current portion	372,149	400,407
Operating lease liabilities, net of current portion	80,988	78,093
Deferred income taxes	64,426	64,426
Other long-term liabilities	7,541	7,743
Total long-term liabilities	525,104	550,669
Shareholders' equity:
Common stock, no par value. Authorized 100,000,000 shares; 30,986,702 and 30,979,827 shares issued; 26,919,455 and 26,912,580 shares outstanding, respectively	30,988	30,981
Paid-in capital	4,639	4,484
Treasury stock, at cost; 4,067,247 shares	(82,385)	(82,385)
Retained earnings	335,252	293,643
Accumulated other comprehensive (loss):
Interest rate swaps, net of income taxes of $(107) and $(142), respectively	(313)	(476)
Foreign currency translation adjustments	(6,273)	(6,674)
Total shareholders’ equity	281,908	239,573
Total liabilities and shareholders’ equity	$ 1,082,220	$ 1,063,049

Unaudited Consolidated Balanc_2

Unaudited Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jul. 03, 2021	Dec. 31, 2020
Statement Of Financial Position [Abstract]
Allowance for doubtful accounts	$ 5,676	$ 5,140
Property and equipment, accumulated depreciation	314,451	298,789
Intangible assets, accumulated amortization	$ 100,565	$ 93,574
Common stock, par value	$ 0	$ 0
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	30,986,702	30,979,827
Common stock, shares outstanding	26,919,455	26,912,580
Treasury stock, shares	4,067,247	4,067,247
Interest rate swaps, income taxes	$ (107)	$ (142)

Unaudited Consolidated Statemen

Unaudited Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jul. 04, 2020	Jul. 03, 2021	Jul. 04, 2020
Operating revenues:
Total operating revenues	$ 422,783	$ 257,980	$ 838,015	$ 640,142
Operating expenses:
Purchased transportation and equipment rent	198,031	128,611	387,363	309,467
Direct personnel and related benefits	111,000	57,592	218,552	154,980
Operating supplies and expenses	32,713	16,962	69,805	47,657
Commission expense	8,570	5,024	15,894	12,194
Occupancy expense	9,389	8,984	17,569	17,815
General and administrative	9,693	6,580	18,869	15,504
Insurance and claims	5,735	4,858	12,070	9,730
Depreciation and amortization	16,339	18,530	35,424	38,048
Total operating expenses	391,470	247,141	775,546	605,395
Income from operations	31,313	10,839	62,469	34,747
Interest income	14	15	32	23
Interest expense	(2,940)	(3,453)	(6,121)	(7,670)
Other non-operating income (expense)	6,079	811	7,085	(2,794)
Income before income taxes	34,466	8,212	63,465	24,306
Income tax expense	8,862	2,044	16,205	5,975
Net income	$ 25,604	$ 6,168	$ 47,260	$ 18,331
Earnings per common share:
Basic	$ 0.95	$ 0.23	$ 1.76	$ 0.68
Diluted	$ 0.95	$ 0.23	$ 1.75	$ 0.68
Weighted average number of common shares outstanding:
Basic	26,919	26,919	26,918	27,074
Diluted	26,936	26,919	26,933	27,074
Dividends declared per common share	$ 0.105		$ 0.210	$ 0.105
Truckload services [Member]
Operating revenues:
Total operating revenues	$ 58,880	$ 40,523	$ 118,582	$ 99,421
Brokerage services [Member]
Operating revenues:
Total operating revenues	102,532	62,782	199,451	148,681
Intermodal services [Member]
Operating revenues:
Total operating revenues	106,601	82,881	210,318	193,203
Dedicated services [Member]
Operating revenues:
Total operating revenues	50,396	18,031	98,357	49,610
Value-added services [Member]
Operating revenues:
Total operating revenues	$ 104,374	$ 53,763	$ 211,307	$ 149,227

Unaudited Consolidated Statem_2

Unaudited Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jul. 04, 2020	Jul. 03, 2021	Jul. 04, 2020
Statement Of Income And Comprehensive Income [Abstract]
Net Income	$ 25,604	$ 6,168	$ 47,260	$ 18,331
Other comprehensive income (loss):
Unrealized changes in fair value of interest rate swaps, net of income taxes of $2, $(11), $35 and $(146), respectively	30	(24)	163	(472)
Foreign currency translation adjustments	(666)	1,824	401	1,144
Total other comprehensive income (loss)	(636)	1,800	564	672
Total comprehensive income	$ 24,968	$ 7,968	$ 47,824	$ 19,003

Unaudited Consolidated Statem_3

Unaudited Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jul. 04, 2020	Jul. 03, 2021	Jul. 04, 2020
Statement Of Income And Comprehensive Income [Abstract]
Unrealized changes in fair value of interest rate swaps, tax	$ 2	$ (11)	$ 35	$ (146)

Unaudited Consolidated Statem_4

Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jul. 03, 2021	Jul. 04, 2020
Cash flows from operating activities:
Net income	$ 47,260	$ 18,331
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	35,424	38,048
Noncash lease expense	12,873	14,724
(Gain) loss on marketable equity securities	(1,384)	2,534
Gain on disposal of property and equipment	(721)	(591)
Amortization of debt issuance costs	240	294
Stock-based compensation	162	195
Provision for doubtful accounts	2,597	1,348
Deferred income taxes	(21)	(2,208)
Change in assets and liabilities:
Trade and other accounts receivable	(32,999)	25,543
Prepaid expenses and other assets	(2,460)	(2,693)
Principal reduction in operating lease liabilities	(12,232)	(14,310)
Accounts payable, accrued expenses and other current liabilities, insurance and claims, and income taxes payable	7,637	26,013
Due to/from affiliates, net	(2,916)	1,690
Other long-term liabilities	(4)	(498)
Net cash provided by operating activities	53,456	108,420
Cash flows from investing activities:
Capital expenditures	(16,941)	(42,369)
Proceeds from the sale of property and equipment	3,878	2,509
Purchases of marketable securities	(114)	(360)
Proceeds from sale of marketable securities	117
Net cash used in investing activities	(13,060)	(40,220)
Cash flows from financing activities:
Proceeds from borrowing - revolving debt	191,947	141,801
Repayments of debt - revolving debt	(192,820)	(203,053)
Proceeds from borrowing - term debt	3,946	35,295
Repayments of debt - term debt	(31,276)	(28,182)
Borrowings under margin account		256
Repayments under margin account		(256)
Dividends paid	(8,480)	(5,731)
Capitalized financing costs		(46)
Purchases of treasury stock		(5,000)
Net cash used in financing activities	(36,683)	(64,916)
Effect of exchange rate changes on cash and cash equivalents	622	(3,033)
Net increase in cash	4,335	251
Cash and cash equivalents – beginning of period	8,763	7,726
Cash and cash equivalents – end of period	13,098	7,977
Supplemental cash flow information:
Cash paid for interest	5,993	7,033
Cash paid for income taxes	$ 22,909	$ 457

Unaudited Consolidated Statem_5

Unaudited Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Common stock [Member]	Paid-in capital [Member]	Treasury stock [Member]	Retained earnings [Member]	Accumulated other comprehensive income (loss) [Member]
Balances at Dec. 31, 2019	$ 205,217	$ 30,972	$ 4,298	$ (77,247)	$ 251,204	$ (4,010)
Net income	12,163				12,163
Comprehensive income (loss)	(1,128)					(1,128)
Dividends ($0.105 per share)	(2,865)				(2,865)
Stock based compensation	195	9	186
Purchases of treasury stock	(4,919)			(4,919)
Balances at Apr. 04, 2020	208,663	30,981	4,484	(82,166)	260,502	(5,138)
Balances at Dec. 31, 2019	205,217	30,972	4,298	(77,247)	251,204	(4,010)
Net income	18,331
Comprehensive income (loss)	672
Balances at Jul. 04, 2020	216,550	30,981	4,484	(82,247)	266,670	(3,338)
Balances at Apr. 04, 2020	208,663	30,981	4,484	(82,166)	260,502	(5,138)
Net income	6,168				6,168
Comprehensive income (loss)	1,800					1,800
Purchases of treasury stock	(81)			(81)
Balances at Jul. 04, 2020	216,550	30,981	4,484	(82,247)	266,670	(3,338)
Balances at Dec. 31, 2020	239,573	30,981	4,484	(82,385)	293,643	(7,150)
Net income	21,656				21,656
Comprehensive income (loss)	1,200					1,200
Dividends ($0.105 per share)	(2,865)				(2,865)
Stock based compensation	162	7	155
Balances at Apr. 03, 2021	259,726	30,988	4,639	(82,385)	312,434	(5,950)
Balances at Dec. 31, 2020	239,573	30,981	4,484	(82,385)	293,643	(7,150)
Net income	47,260
Comprehensive income (loss)	564
Balances at Jul. 03, 2021	281,908	30,988	4,639	(82,385)	335,252	(6,586)
Balances at Apr. 03, 2021	259,726	30,988	4,639	(82,385)	312,434	(5,950)
Net income	25,604				25,604
Comprehensive income (loss)	(636)					(636)
Dividends ($0.105 per share)	(2,786)				(2,786)
Balances at Jul. 03, 2021	$ 281,908	$ 30,988	$ 4,639	$ (82,385)	$ 335,252	$ (6,586)

Unaudited Consolidated Statem_6

Unaudited Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Jul. 03, 2021	Apr. 03, 2021	Apr. 04, 2020
Statement Of Stockholders Equity [Abstract]
Dividends paid per share	$ 0.105	$ 0.105	$ 0.105

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jul. 03, 2021
Accounting Policies [Abstract]
Basis of Presentation	(1) Basis of Presentation The accompanying unaudited consolidated financial statements of Universal Logistics Holdings, Inc. and its wholly owned subsidiaries (collectively, “Universal” or the “Company”) have been prepared by the Company’s management. In the opinion of management, the unaudited consolidated financial statements include all normal recurring adjustments necessary to present fairly the information required to be set forth therein. All intercompany transactions and balances have been eliminated in consolidation. Certain information and note disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles have been condensed or omitted from these statements pursuant to such rules and regulations and, accordingly, should be read in conjunction with the consolidated financial statements as of December 31, 2020 and 2019 and for each of the years in the three-year period ended December 31, 2020 included in the Company’s Form 10-K filed with the Securities and Exchange Commission. The preparation of the consolidated financial statements requires the use of management’s estimates. Actual results could differ from those estimates. Our fiscal year ends on December 31 and consists of four quarters, each with thirteen weeks. COVID-19 In March of 2020, the World Health Organization declared the coronavirus outbreak (COVID-19) a pandemic. The Company remains committed to doing its part to protect its employees, customers, vendors and the general public from the spread of COVID-19. We will continue to adapt our operations as required to ensure safety while continuing to provide a high level of service to our customers. The Company makes estimates and assumptions that affect reported amounts and disclosures included in its financial statements and accompanying notes and assesses certain accounting matters that require consideration of forecasted financial information. The Company's assumptions about future conditions important to these estimates and assumptions are subject to uncertainty, including the impacts of the COVID-19 pandemic. Although we estimate COVID-19 had the largest impact on our business during the second quarter 2020, we are unable to predict with any certainty the future impact COVID-19 may have on our operational and financial performance. The Company will continue to monitor these conditions in future periods as new information becomes available and will update its analyses accordingly.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	6 Months Ended
	Jul. 03, 2021
Accounting Policies [Abstract]
Recent Accounting Pronouncements	(2) Recent Accounting Pronouncements In March 2020, the FASB issued ASU No. 2020-04 (“ASU 2020-04”), Reference Rate Reform (Topic 848): “Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” The ASU was issued to provide optional guidance for a limited period of time to ease the potential burden in accounting for reference rate reform on financial reporting. ASU 2020-04 is effective as of March 12, 2020 through December 31, 2022. The Company has evaluated the provisions of this standard and determined that it is applicable to our primary term loan and revolving credit facility, real estate promissory notes and investment margin credit facility. The London Interbank Offered Rate (“LIBOR”) is the basis for interest charges on outstanding borrowings for both our line of credit and investment margin account. The scheduled discontinuation of LIBOR is not expected to materially alter any provisions of either of these debt instruments, except for the identification of a replacement reference rate. The Company has evaluated the new guidance and does not expect it to have a material impact on its financial condition, results of operations, or cash flows. In June 2016, the FASB issued ASU 2016-13 (“ASU 2016-13”), Accounting for Credit Losses (Topic 326). ASU 2016-13 requires the use of an “expected loss” model on certain types of financial instruments. The standard also amends the impairment model for available-for-sale debt securities and requires estimated credit losses to be recorded as allowances instead of reductions to amortized cost of the securities. The new standard will become effective for us beginning with the first quarter 2023. The Company is evaluating the new guidance but does not expect it to have a material impact on our consolidated financial statements.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jul. 03, 2021
Revenue Recognition [Abstract]
Revenue Recognition	(3) Revenue Recognition The Company broadly groups its services into the following categories: truckload, brokerage, intermodal, dedicated and value-added. We disaggregate these categories and report our service lines separately on the Consolidated Statements of Income. Truckload services include dry van, flatbed, heavy-haul and refrigerated operations. We transport a wide variety of general commodities, including automotive parts, machinery, building materials, paper, food, consumer goods, furniture, steel and other metals on behalf of customers in various industries. Truckload services also include our final mile and ground expedited services. To complement our available capacity, we provide customers freight brokerage services by utilizing third-party transportation providers to move freight. Brokerage services also include full-service domestic and international freight forwarding and customs brokerage. Intermodal services include rail-truck, steamship-truck and support services. Our intermodal support services are primarily short- to medium-distance delivery of rail and steamship containers between the railhead or port and the customer and drayage services. Dedicated services are primarily provided in support of automotive and retail customers using van equipment. Our dedicated services are primarily short-run or round-trip moves within a defined geographic area. Transportation services are short-term in nature; agreements governing their provision generally have a term of less than one year. They do not contain significant financing components. The Company recognizes revenue over the period transportation services are provided to the customer, including service performed as of the end of the reporting period for loads currently in-transit, in order to recognize the value that is transferred to a customer over the course of the transportation service. We determine revenue in-transit using the input method, under which revenue is recognized based on the duration of time that has lapsed from the departure date (start of transportation services) to the arrival date (completion of transportation services). Measurement of revenue in-transit requires the application of significant judgment. We calculate the estimated percentage of an order’s transit time that is complete at period end, and we apply that percentage of completion to the order’s estimated revenue. Value-added services, which are typically dedicated to individual customer requirements, include material handling, consolidation, sequencing, sub-assembly, cross-dock services, kitting, repacking, warehousing and returnable container management. Value-added revenues are substantially driven by the level of demand for outsourced logistics services. Major factors that affect value-added service revenue include changes in manufacturing supply chain requirements and production levels in specific industries, particularly the North American automotive and Class 8 heavy-truck industries. Revenue is recognized as control of the promised goods or services is transferred to our customers, in an amount that reflects the consideration the Company expects to receive in exchange for its services. We have elected to use the “right to invoice” practical expedient to recognize revenue, The contracts in our value-added services businesses are negotiated agreements, which contain both fixed and variable components. The variability of revenues is driven by volumes and transactions, which are known as of an invoice date. Value-added service contracts typically have terms that extend beyond one year, and they do not include financing components. The following table provides information related to contract balances associated with our contracts with customers (in thousands): July 3, 2021 December 31, 2020 Prepaid expenses and other - contract assets $ 1,873 $ 2,520 We generally receive payment for performance obligations within 45 days of completion of transportation services and 65 days for completion of value-added services. Contract assets in the table above generally relate to revenue in-transit at the end of the reporting period.

Marketable Securities

Marketable Securities	6 Months Ended
	Jul. 03, 2021
Investments Debt And Equity Securities [Abstract]
Marketable Securities	(4) Marketable Securities The Company accounts for its marketable equity securities in accordance with ASC Topic 321 “ Investments- Equity Securities Marketable equity securities are carried at fair value, with gains and losses in fair market value included in the determination of net income. The fair value of marketable equity securities is determined based on quoted market prices in active markets, as described in Note 7. The following table sets forth market value, cost, and unrealized gains on equity securities (in thousands): July 3, 2021 December 31, 2020 Fair value $ 7,915 $ 6,534 Cost 6,426 6,579 Unrealized gain (loss) $ 1,489 $ (45 ) The following table sets forth the gross unrealized gains and losses on the Company’s marketable securities (in thousands): July 3, 2021 December 31, 2020 Gross unrealized gains $ 2,434 $ 1,627 Gross unrealized losses (945 ) (1,672 ) Net unrealized gains (losses) $ 1,489 $ (45 ) The following table shows the Company’s net realized gains (loss) on marketable equity securities (in thousands): Thirteen weeks ended Twenty-six weeks ended July 3, 2021 July 4, 2020 July 3, 2021 July 4, 2020 Realized gain Sale proceeds $ — $ — $ 117 $ — Cost basis of securities sold — — 92 — Realized gain $ — $ — $ 25 $ — Realized gain, net of taxes $ — $ — $ 19 $ — During the thirteen-week and twenty-six week periods ended July 3, 2021, our marketable equity securities portfolio experienced a net unrealized pre-tax gain (loss) in market value of approximately $385,000 and $1,359,000, respectively, which was reported in other non-operating income (expense) for the period. During the thirteen-week and twenty-six week periods ended July 4, 2020, our marketable equity securities portfolio experienced a net unrealized pre-tax gain (loss) in market value of approximately $875,000 and $(2,534,000), respectively, which was reported in other non-operating income (expense) for the period.

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	6 Months Ended
	Jul. 03, 2021
Payables And Accruals [Abstract]
Accrued Expenses and Other Current Liabilities	( 5 ) Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities are comprised of the following (in thousands): July 3, 2021 December 31, 2020 Accrued payroll $ 14,564 $ 11,536 Accrued payroll taxes 11,094 11,601 Driver escrow liabilities 4,020 4,045 Legal settlements and claims 5,635 3,700 Commissions, taxes and other 6,051 8,706 Total $ 41,364 $ 39,588

Debt

Debt	6 Months Ended
	Jul. 03, 2021
Debt Disclosure [Abstract]
Debt	( 6 ) Debt Debt is comprised of the following (in thousands): Interest Rates at July 3, 2021 July 3, 2021 December 31, 2020 Outstanding Debt: Credit and Security Agreement (1) Term Loan 1.85% $ 125,625 $ 131,250 Revolver 1.85% 150,453 151,326 Equipment Financing (2) 2.25% to 5.13% 112,158 129,870 Real Estate Financing (3) 1.95% to 2.35% 45,255 49,248 Margin Facility (4) 1.20% — — Unamortized debt issuance costs (1,334 ) (1,574 ) 432,157 460,120 Less current portion of long-term debt 60,008 59,713 Total long-term debt, net of current portion $ 372,149 $ 400,407 (1) Our Credit and Security Agreement (the “Credit Agreement”) provides for maximum borrowings of $350 million in the form of a $150 million term loan and a $200 million revolver. Term loan proceeds were advanced on November 27, 2018 and mature on November 26, 2023. The term loan will be repaid in consecutive quarterly installments, as defined in the Credit Agreement, commencing March 31, 2019, with the remaining balance due at maturity. Borrowings under the revolving credit facility may be made until and mature on November 26, 2023. Borrowings under the Credit Agreement bear interest at LIBOR or a base rate plus an applicable margin for each based the Company’s leverage ratio. The Credit Agreement is secured by a first priority pledge of the capital stock of applicable subsidiaries, as well as first priority perfected security interest in cash, deposits, accounts receivable, and selected other assets of the applicable borrowers. The Credit Agreement includes customary affirmative and negative covenants and events of default, as well as financial covenants requiring minimum fixed charge coverage and leverage ratios, and customary mandatory prepayments provisions. At July 3, 2021, we were in compliance with all covenants under the facility, and $49.5 million was available for borrowing on the revolver ( 6 ) Debt – continued (2) Our Equipment Financing consists of a series of promissory notes issued by a wholly owned subsidiary. The equipment notes, which are secured by liens on specific titled vehicles, include certain affirmative and negative covenants, are generally payable in 60 monthly installments and bear interest at fixed rates ranging from 2.25% to 5.13%. (3) Our Real Estate Financing consists of a series of promissory notes issued by a wholly owned subsidiary. The promissory notes, which are secured by first mortgages and assignment of leases on specific parcels of real estate and improvements, include certain affirmative and negative covenants and are generally payable in 120 monthly installments. Each of the notes bears interest at a variable rate ranging from LIBOR plus 1.85% to LIBOR plus 2.25%. At July 3, 2021, we were in compliance with all covenants. (4) Our Margin Facility is a short-term line of credit secured by our portfolio of marketable securities. It bears interest at LIBOR plus 1.10%. The amount available under the line of credit is based on a percentage of the market value of the underlying securities. At July 3, 2021, the maximum available borrowings under the line of credit were $4.2 million. The Company is also party to two interest rate swap agreements that qualify for hedge accounting. The Company executed the swap agreements to fix a portion of the interest rates on its variable rate debt that have a combined notional amount of $12.0 million at July 3, 2021. Under the swap agreements, the Company receives interest at the one-month LIBOR rate plus 2.25% and pays a fixed rate. The first swap became effective in October 2016, has a rate of 4.16% (amortizing notional amount of $10.0 million) and expires in July 2026. The second swap became effective in October 2016, has a rate of 3.83% (amortizing notional amount of $2.0 million) and expires in May 2022. At July 3, 2021, the fair value of the swap agreements was a liability of $0.4 million. Since these swap agreements qualify for hedge accounting, the changes in fair value are recorded in other comprehensive income (loss), net of tax. See Note 7 for additional information pertaining to interest rate swaps.

Fair Value Measurements and Dis

Fair Value Measurements and Disclosures	6 Months Ended
	Jul. 03, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements and Disclosures	( 7 ) Fair Value Measurements and Disclosures FASB ASC Topic 820, “ Fair Value Measurements and Disclosures, FASB ASC Topic 820 also establishes a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. This hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: • Level 1 — Quoted prices in active markets for identical assets or liabilities. • Level 2 — Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. • Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. ( 7 ) Fair Value Measurements and Disclosures – continued We have segregated all financial assets and liabilities that are measured at fair value on a recurring basis into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value at the measurement date in the tables below (in thousands): July 3, 2021 Level 1 Level 2 Level 3 Fair Value Measurement Assets Cash equivalents $ 9 $ — $ — $ 9 Marketable securities 7,915 — — 7,915 Total $ 7,924 $ — $ — $ 7,924 Liabilities Interest rate swaps $ — $ 420 $ — $ 420 Total $ — $ 420 $ — $ 420 December 31, 2020 Level 1 Level 2 Level 3 Fair Value Measurement Assets Cash equivalents $ 9 $ — $ — $ 9 Marketable securities 6,534 — — 6,534 Total $ 6,543 $ — $ — $ 6,543 Liabilities Interest rate swaps $ — $ 619 $ — $ 619 Total $ — $ 619 $ — $ 619 The valuation techniques used to measure fair value for the items in the tables above are as follows: • Cash equivalents – This category consists of money market funds which are listed as Level 1 assets and measured at fair value based on quoted prices for identical instruments in active markets. • Marketable securities – Marketable securities represent equity securities, which consist of common and preferred stocks, are actively traded on public exchanges and are listed as Level 1 assets. Fair value was measured based on quoted prices for these securities in active markets. • Interest rate swaps – The fair value of our interest rate swaps is determined using a methodology of netting the discounted future fixed cash payments (or receipts) and the discounted expected variable cash receipts (or payments). The variable cash receipts (or payments) are based on the expectation of future interest rates (forward curves) derived from observed market interest rate curves. The fair value measurement also incorporates credit valuation adjustments to appropriately reflect both the Company’s nonperformance risk and the respective counterparty’s nonperformance risk. Our Credit Agreement and our Real Estate Financing consist of variable rate borrowings. We categorize these borrowings as Level 2 in the fair value hierarchy. The carrying value of these borrowings approximate fair value because the applicable interest rates are adjusted frequently based on short-term market rates. For our Equipment Financing, the fair values are estimated using discounted cash flow analyses, based on our current incremental borrowing rates for similar types of borrowing arrangements. We categorize these borrowings as Level 2 in the fair value hierarchy. The carrying value and estimated fair value of these promissory notes at July 3, 2021 is summarized as follows: Carrying Value Estimated Fair Value Equipment promissory notes $ 112,158 $ 114,406 We have not elected the fair value option for any of our financial instruments.

Leases

Leases	6 Months Ended
	Jul. 03, 2021
Leases [Abstract]
Leases	(8) Leases On January 1, 2019, we adopted ASU 2016-02, Leases, which required us to recognize a right-of-use asset and a corresponding lease liability on our balance sheet for most leases classified as operating leases under previous guidance. Right-of-use assets represent our right to use an underlying asset over the lease term and lease liabilities represent the obligation to make lease payments resulting from the lease agreement. We recognize a right-of-use asset and a lease liability on the effective date of a lease agreement. As of July 3, 2021, our obligations under operating lease arrangements primarily related to the rental of office space, warehouses, freight distribution centers, terminal yards and equipment. Our lease obligations typically do not include options to purchase the leased property, nor do they contain residual value guarantees or material restrictive covenants. Options to extend or terminate an agreement are included in the lease term when it becomes reasonably certain the option will be exercised. As of July 3, 2021, we were not reasonably certain of exercising any renewal or termination options, and as such, no adjustments were made to the right-of-use lease assets or corresponding liabilities. We did not separate lease and nonlease components of contracts for purposes of determining the right-of use lease asset and corresponding liability. Variable lease components that do not depend on an index or a rate, and variable nonlease components were also not contemplated in the calculation of the right-of-use asset and corresponding liability. For facility leases, variable lease costs include the costs of common area maintenance, taxes, and insurance for which we pay the lessors an estimate that is adjusted to actual expense on a quarterly or annual basis depending on the underlying contract terms. For equipment leases, variable lease costs may include additional fees associated with using equipment in excess of estimated amounts. Leases with an initial term of 12 months or less, short-term leases, are not recorded on the balance sheet. Lease expense for short-term and long-term operating leases is recognized on a straight-line basis over the lease term. The following table summarizes our lease costs for the thirteen weeks and twenty-six weeks ended July 3, 2021 and July 4, 2020 (in thousands): Thirteen weeks ended July 3, 2021 With Affiliates With Third Parties Total Lease cost Operating lease cost $ 2,514 $ 5,840 $ 8,354 Short-term lease cost 26 2,840 2,866 Variable lease cost 210 799 1,009 Sublease income - (265 ) (265 ) Total lease cost $ 2,750 $ 9,214 $ 11,964 Thirteen weeks ended July 4, 2020 With Affiliates With Third Parties Total Lease cost Operating lease cost $ 2,434 $ 5,840 $ 8,274 Short-term lease cost 166 1,074 1,240 Variable lease cost 40 970 1,010 Sublease income - (724 ) (724 ) Total lease cost $ 2,640 $ 7,160 $ 9,800 (8) Leases – continued Twenty-six weeks ended July 3, 2021 With Affiliates With Third Parties Total Lease cost Operating lease cost $ 5,041 $ 11,642 $ 16,683 Short-term lease cost 27 3,996 4,023 Variable lease cost 420 1,388 1,808 Sublease income - (1,024 ) (1,024 ) Total lease cost $ 5,488 $ 16,002 $ 21,490 Twenty-six weeks ended July 4, 2020 With Affiliates With Third Parties Total Lease cost Operating lease cost $ 5,270 $ 11,799 $ 17,069 Short-term lease cost 407 2,271 2,678 Variable lease cost 267 1,763 2,030 Sublease income - (1,603 ) (1,603 ) Total lease cost $ 5,944 $ 14,230 $ 20,174 The following table summarizes other lease related information as of and for the twenty-six week periods ended July 3, 2021 and July 4, 2020 (in thousands): July 3, 2021 With Affiliates With Third Parties Total Other information Cash paid for amounts included in the measurement of operating leases $ 4,831 $ 11,310 $ 16,141 Right-of-use assets obtained in exchange for new operating lease liabilities $ 3,526 $ 12,880 $ 16,406 Weighted-average remaining lease term (in years) 5.8 4.7 5.1 Weighted-average discount rate 7.1 % 5.6 % 6.1 % July 4, 2020 With Affiliates With Third Parties Total Other information Cash paid for amounts included in the measurement of operating leases $ 5,193 $ 11,341 $ 16,534 Right-of-use asset change due to lease termination $ - $ (1,409 ) $ (1,409 ) Right-of-use assets obtained in exchange for new operating lease liabilities $ 1,941 $ 15,147 $ 17,088 Weighted-average remaining lease term (in years) 6.6 4.7 5.3 Weighted-average discount rate 7.8 % 4.5 % 5.7 % (8) Leases – continued Future minimum lease payments under these operating leases as of July 3, 2021, are as follows (in thousands): With Affiliates With Third Parties Total Year one $ 8,522 $ 19,879 $ 28,401 Year two 7,090 16,077 23,167 Year three 6,731 13,491 20,222 Year four 6,345 12,386 18,731 Year five 3,601 10,376 13,977 Thereafter 9,724 6,992 16,716 Total required lease payments $ 42,013 $ 79,201 $ 121,214 Less amounts representing interest (16,962 ) Present value of lease liabilities $ 104,252

Transactions with Affiliates

Transactions with Affiliates	6 Months Ended
	Jul. 03, 2021
Related Party Transactions [Abstract]
Transactions with Affiliates	( 9 ) Transactions with Affiliates CenTra, Inc. (“CenTra”), an affiliate of the Company that is owned by our controlling shareholder, provides administrative support services to Universal in the ordinary course of business, including legal, human resources, IT infrastructure and other requested services. The cost of these services is based on the actual or estimated utilization of the specific service. Universal also purchases other services from affiliates owned by our controlling shareholder, including CenTra. Following is a schedule of costs incurred and included in operating expenses for services provided by affiliates for the thirteen weeks and twenty-six weeks ended July 3, 2021 and July 4, 2020, respectively (in thousands): Thirteen weeks ended Twenty-six weeks ended July 3, 2021 July 4, 2020 July 3, 2021 July 4, 2020 Administrative support services $ 1,882 $ 343 $ 1,997 $ 532 Truck fuel, tolls and maintenance 233 104 411 410 Real estate rent and related costs 3,357 3,506 6,271 6,814 Insurance and employee benefit plans 11,807 7,353 23,303 20,507 Purchased transportation and equipment rent 10 6 19 11 Total $ 17,289 $ 11,312 $ 32,001 $ 28,274 We pay CenTra and related affiliates the direct variable cost of maintenance, fueling and other operational support costs for services delivered at our affiliate’s trucking terminals that are geographically remote from our own facilities. Such costs are billed when incurred, paid on a routine basis, and reflect actual labor utilization, repair parts costs or quantities of fuel purchased. In connection with our transportation services, we also pay tolls and other fees for international bridge crossings to certain related entities which are under common control with CenTra. ( 9 ) Transactions with Affiliates - continued We also lease 28 facilities from related parties. Our occupancy is based on either month-to-month or contractual, multi-year lease arrangements that are billed and paid monthly. Leasing properties from a related party affords us significant operating flexibility; however, we are not limited to such arrangements. See Note 8, “Leases” for further information regarding the cost of leased properties. We purchase workers’ compensation, property and casualty, cargo, warehousing and other general liability insurance from an insurance company owned by our controlling shareholder. Our employee health care benefits and 401(k) programs are also provided by this affiliate. Other services from affiliates, including contracted transportation services, are delivered to us on a per-transaction basis or pursuant to separate contractual arrangements provided in the ordinary course of business. At July 3, 2021 and December 31, 2020, amounts due to affiliates were $14.0 million and $17.1 million, respectively. In our Consolidated Balance Sheets, we record our insured claims liability and the related recovery from an affiliate insurance provider in insurance and claims, and other receivables. At July 3, 2021 and December 31, 2020, there were $14.6 million and $13.3 million, respectively, included in each of these accounts for insured claims. We purchased wheels and tires from an affiliate during the twenty-six weeks ended July 4, 2020 totaling $618,000. There were no such purchases made during the twenty-six weeks ended July 3, 2021. Services provided by Universal to Affiliates We periodically assist our affiliates by providing selected transportation and logistics services in connection with their specific customer contracts or purchase orders. Following is a schedule of services provided to affiliates for the thirteen weeks and twenty-six weeks ended July 3, 2021 and July 4, 2020 (in thousands): Thirteen weeks ended Twenty-six weeks ended July 3, 2021 July 4, 2020 July 3, 2021 July 4, 2020 Purchased transportation and equipment rent $ 209 $ 221 $ 258 $ 356 Total $ 209 $ 221 $ 258 $ 356 At July 3, 2021 and December 31, 2020, amounts due from affiliates were $1.0 million and $1.2 million, respectively.

Stock Based Compensation

Stock Based Compensation	6 Months Ended
	Jul. 03, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock Based Compensation	( 1 0 ) Stock Based Compensation On April 23, 2014, our Board of Directors adopted our 2014 Amended and Restated Stock Incentive Plan. The Plan was approved at the 2014 annual meeting of shareholders and became effective as of the date our Board adopted it. The 2014 Plan replaced our 2004 Stock Incentive Plan and carried forward the shares of common stock that remained available for issuance under the 2004 Plan. The grants under the Plan may be made in the form of options, restricted stock awards, restricted stock purchase rights, stock appreciation rights, phantom stock units, restricted stock units or shares of unrestricted common stock. On February 5, 2020, the Company granted 5,000 shares of restricted stock to our Chief Financial Officer. The restricted stock award has a fair value of $17.74 per share, based on the closing price of the Company’s stock on the grant date. The shares will vest on February 20, 2024, subject to his continued employment with the Company. On January 10, 2020, the Company granted 60,000 shares of restricted stock to our Chief Executive Officer. The restricted stock award has a fair value of $18.82 per share, based on the closing price of the Company’s stock on the grant date. The shares will vest in installments of 20,000 shares on January 10, 2024 and January 10, 2026, and installments of 10,000 shares on January 10, 2027 and January 10, 2028, subject to his continued employment with the Company. On February 20, 2019, the Company granted 44,500 shares of restricted stock to certain of its employees, including 10,000 shares to our Chief Financial Officer. The restricted stock awards have a grant date fair value of $23.56 per share, based on the closing price of the Company’s stock, and any non-vested shares under the awards vest in four equal increments on each February 20 in 2020, 2021, 2022 and 2023. The vesting of restricted stock awards to a grantee may be accelerated under certain conditions, including retirement. (1 0 ) Stock Based Compensation - continued The following table summarizes the status of the Company’s non-vested shares and related information for the period indicated: Shares Weighted Average Date Non-vested at January 1, 2021 85,625 $ 19.90 Granted — $ - Vested (6,875 ) $ 23.56 Forfeited — $ - Balance at July 3, 2021 78,750 $ 19.58 In each of the twenty-six week periods ended July 3, 2021 and July 4, 2020, the total grant date fair value of vested shares recognized as compensation costs was $0.2 million. As of July 3, 2021, there was approximately $1.5 million of total unrecognized compensation cost related to non-vested share-based compensation arrangements. That cost is expected to be recognized on a straight-line basis over the remaining vesting period. As a result, the Company expects to recognize stock-based compensation expense of $0.2 million in each year of 2022 and 2023, and $0.4 million in 2024, $0.3 million in 2026, and $0.2 million in each 2027 and 2028.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jul. 03, 2021
Earnings Per Share [Abstract]
Earnings Per Share	( 1 1 ) Earnings Per Share Basic earnings per common share amounts are based on the weighted average number of common shares outstanding, excluding outstanding non-vested restricted stock. Diluted earnings per common share include dilutive common stock equivalents determined by the treasury stock method. For the thirteen weeks and twenty-six weeks ended July 3, 2021, there were 16,704 and 15,689 weighted average non-vested shares of restricted stock, respectively, included in the denominator for the calculation of diluted earnings per share. For the thirteen weeks and twenty-six weeks ended July 4, 2020, no shares of non-vested restricted stock were included in the denominator for the calculation of diluted earnings per share. In each of the thirteen weeks and twenty-six weeks ended July 4, 2020, we excluded 85,625 shares of non-vested restricted stock from the calculation of diluted earnings per share because such shares were anti-dilutive. No such shares were excluded from the calculation of diluted earnings per share during the thirteen weeks or twenty-six weeks ended July 3, 2021.

Dividends

Dividends	6 Months Ended
	Jul. 03, 2021
Earnings Per Share [Abstract]
Dividends	(1 2 ) Dividends On April 29, 2021, our Board of Directors declared a cash dividend of $0.105 per share of common stock, payable on July 6, 2021 to shareholders of record at the close of business on June 7, 2021. Declaration of future cash dividends is subject to final determination by the Board of Directors each quarter after its review of our financial condition, results of operations, capital requirements, any legal or contractual restrictions on the payment of dividends and other factors the Board of Directors deems relevant.

Segment Reporting

Segment Reporting	6 Months Ended
	Jul. 03, 2021
Segment Reporting [Abstract]
Segment Reporting	(1 3 ) Segment Reporting In December 2020, we changed the way we aggregate our business units and adopted a new segment reporting structure. As part of the new structure, we separated our previous transportation segment into three reportable segments: trucking, intermodal, and company-managed brokerage. In addition, we changed the name of our previous logistics segment to contract logistics. As a result, we now report our financial results in four distinct reportable segments: contract logistics, intermodal, trucking, and company-managed brokerage, which are based primarily on the services each segment provides. This presentation reflects the manner in which management evaluates our operating segments, including an evaluation of economic characteristics and applicable aggregation criteria. Operations aggregated in our contract logistics segment deliver value-added and/or dedicated transportation services to support in-bound logistics to original equipment manufacturers (OEMs) and major retailers on a contractual basis, generally pursuant to terms of one year or longer. Our intermodal segment is associated with local and regional drayage moves coordinated by company-managed terminals using a mix of owner-operators, company equipment and third-party capacity providers (broker carriers). Operations aggregated in our trucking segment are associated with individual freight shipments coordinated by our agents and company-managed terminals using a mix of owner-operators, company equipment and broker carriers. Our company-managed brokerage segment provides for the pick-up and delivery of individual freight shipments using broker carriers, coordinated by our company-managed operations. Other non-reportable segments are comprised of the Company’s subsidiaries that provide support services to other subsidiaries. Separate balance sheets are not prepared by segment, and we do not provide asset information by segment to the chief operating decision maker. The following tables summarize information about our reportable segments for the thirteen week and twenty-six week periods ended July 3, 2021 and July 4, 2020 (in thousands): Operating Revenues Thirteen weeks ended Twenty-six weeks ended July 3, 2021 July 4, 2020 July 3, 2021 July 4, 2020 Contract logistics $ 154,770 $ 71,794 $ 309,664 $ 198,837 Intermodal 106,601 82,881 210,318 193,203 Trucking 99,778 63,004 194,678 154,573 Company-managed brokerage 60,431 39,946 121,537 92,727 Other 1,203 355 1,818 802 Total operating revenues $ 422,783 $ 257,980 $ 838,015 $ 640,142 Eliminated Inter-segment Revenues Thirteen weeks ended Twenty-six weeks ended July 3, 2021 July 4, 2020 July 3, 2021 July 4, 2020 Contract logistics $ 92 $ 1,121 $ 379 $ 1,356 Intermodal 1,308 306 2,385 643 Trucking 7,095 1,429 12,551 2,111 Company-managed brokerage 443 362 980 954 Total operating revenues $ 8,938 $ 3,218 $ 16,295 $ 5,064 Income from Operations Thirteen weeks ended Twenty-six weeks ended July 3, 2021 July 4, 2020 July 3, 2021 July 4, 2020 Contract logistics $ 15,946 $ 750 $ 32,766 $ 12,440 Intermodal 6,152 4,739 14,646 13,739 Trucking 6,482 3,594 11,672 8,094 Company-managed brokerage 2,445 1,702 2,886 305 Other 288 54 499 169 Total operating revenues $ 31,313 $ 10,839 $ 62,469 $ 34,747

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jul. 03, 2021
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	(1 4 ) Commitments and Contingencies Our principal commitments relate to long-term real estate leases and payment obligations to equipment vendors. On March 17, 2021, the Company received a complaint from the National Labor Relations Board (the “NLRB”) based on charged alleged by the International Brotherhood of Teamsters against four of the Company’s operating subsidiaries. The charges stem from the Company’s decision to close underperforming operations in California in December 2019. The Teamsters allege, among other things, that the Company’s subsidiaries engaged in unfair labor practices and failure to negotiate in good faith and are seeking reinstatement of terminated individuals with back pay. The gross amount of the claim for back pay is approximately $5.9 million. The amount of the back pay does not, however, take into consideration any of the offsetting earnings made by terminated individuals since their separation from the Company. In April 2021, the Company answered the complaint by denying it engaged in any unfair labor practices and maintaining that the Company closed the underperforming California terminal due to financial reasons. In June 2021, the Company participated in the first phase of hearings with the NLRB. The hearing will be continued in late July and is expected to be completed shortly thereafter. The Company currently estimates the possible range of financial exposure in the matter to be between $0.8 million and $5.9 million. Based on the Company’s best estimate of the liability at this time, the Company has recorded an accrued liability for this matter of $1.9 million. While the outcome of these claims cannot be predicted with any certainty, management does not believe the outcome of any of these matters will have a material adverse effect on our business, financial position, results of operations or cash flows. On June 1, 2021, the Company entered into a settlement agreement with various parties, including a former agent of the Company. The agreement resolves all breach of contract, tortious interference, and other claims previously asserted by the Company against the defendants. Under the terms of the agreement, the Company agreed to accept $6.0 million in cash payable in three equal tranches of $2.0 million on June 21, 2021, September 30, 2021 and December 31, 2021. As a result of the settlement, during the second quarter 2021, the Company recorded a $5.7 million gain in other non-operating income. On June 9, 2021, the Company received the first payment of $2.0 million. The Company is involved in certain other claims and pending litigation arising from the ordinary conduct of business. We also provide accruals for claims within our self-insured retention amounts. Based on the knowledge of the facts, and in certain cases, opinions of outside counsel, in the Company’s opinion the resolution of these claims and pending litigation will not have a material effect on our financial position, results of operations or cash flows. However, if we experience claims that are not covered by our insurance or that exceed our estimated claim reserve, it could increase the volatility of our earnings and have a materially adverse effect on our financial condition, results of operations or cash flows. At July 3, 2021, approximately 40% of our employees in the United States, Canada and Colombia, and 86% of our employees in Mexico were subject to collective bargaining agreements that are renegotiated periodically, 21% of which are subject to contracts that expire in 2021.

Subsequent Events

Subsequent Events	6 Months Ended
	Jul. 03, 2021
Subsequent Events [Abstract]
Subsequent Events	(1 5 ) Subsequent Events On July 29, 2021, our Board of Directors declared the regular quarterly cash dividend of $0.105 per share of common stock, payable to shareholders of record at the close of business on September 6, 2021 and is expected to be paid on October 4, 2021. Declaration of future cash dividends is subject to final determination by the Board of Directors each quarter after its review of our financial condition, results of operations, capital requirements, any legal or contractual restrictions on the payment of dividends and other factors the Board of Directors deems relevant.

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements (Policies)	6 Months Ended
	Jul. 03, 2021
Accounting Policies [Abstract]
Recent Accounting Pronouncements	In March 2020, the FASB issued ASU No. 2020-04 (“ASU 2020-04”), Reference Rate Reform (Topic 848): “Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” The ASU was issued to provide optional guidance for a limited period of time to ease the potential burden in accounting for reference rate reform on financial reporting. ASU 2020-04 is effective as of March 12, 2020 through December 31, 2022. The Company has evaluated the provisions of this standard and determined that it is applicable to our primary term loan and revolving credit facility, real estate promissory notes and investment margin credit facility. The London Interbank Offered Rate (“LIBOR”) is the basis for interest charges on outstanding borrowings for both our line of credit and investment margin account. The scheduled discontinuation of LIBOR is not expected to materially alter any provisions of either of these debt instruments, except for the identification of a replacement reference rate. The Company has evaluated the new guidance and does not expect it to have a material impact on its financial condition, results of operations, or cash flows. In June 2016, the FASB issued ASU 2016-13 (“ASU 2016-13”), Accounting for Credit Losses (Topic 326). ASU 2016-13 requires the use of an “expected loss” model on certain types of financial instruments. The standard also amends the impairment model for available-for-sale debt securities and requires estimated credit losses to be recorded as allowances instead of reductions to amortized cost of the securities. The new standard will become effective for us beginning with the first quarter 2023. The Company is evaluating the new guidance but does not expect it to have a material impact on our consolidated financial statements.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jul. 03, 2021
Revenue Recognition [Abstract]
Contacts Balances Associated with Customers	The following table provides information related to contract balances associated with our contracts with customers (in thousands): July 3, 2021 December 31, 2020 Prepaid expenses and other - contract assets $ 1,873 $ 2,520

Marketable Securities (Tables)

Marketable Securities (Tables)	6 Months Ended
	Jul. 03, 2021
Investments Debt And Equity Securities [Abstract]
Schedule of Market Value, Cost and Unrealized Gains on Equity Securities	The following table sets forth market value, cost, and unrealized gains on equity securities (in thousands): July 3, 2021 December 31, 2020 Fair value $ 7,915 $ 6,534 Cost 6,426 6,579 Unrealized gain (loss) $ 1,489 $ (45 )
Schedule of Gross Unrealized Gains and Losses on Marketable Securities	The following table sets forth the gross unrealized gains and losses on the Company’s marketable securities (in thousands): July 3, 2021 December 31, 2020 Gross unrealized gains $ 2,434 $ 1,627 Gross unrealized losses (945 ) (1,672 ) Net unrealized gains (losses) $ 1,489 $ (45 )
Summary of Net Realized Gains (Loss) on Marketable Equity Securities	The following table shows the Company’s net realized gains (loss) on marketable equity securities (in thousands): Thirteen weeks ended Twenty-six weeks ended July 3, 2021 July 4, 2020 July 3, 2021 July 4, 2020 Realized gain Sale proceeds $ — $ — $ 117 $ — Cost basis of securities sold — — 92 — Realized gain $ — $ — $ 25 $ — Realized gain, net of taxes $ — $ — $ 19 $ —

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	6 Months Ended
	Jul. 03, 2021
Payables And Accruals [Abstract]
Schedule of Accrued Expenses	Accrued expenses and other current liabilities are comprised of the following (in thousands): July 3, 2021 December 31, 2020 Accrued payroll $ 14,564 $ 11,536 Accrued payroll taxes 11,094 11,601 Driver escrow liabilities 4,020 4,045 Legal settlements and claims 5,635 3,700 Commissions, taxes and other 6,051 8,706 Total $ 41,364 $ 39,588

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jul. 03, 2021
Debt Disclosure [Abstract]
Details of Debt	Debt is comprised of the following (in thousands): Interest Rates at July 3, 2021 July 3, 2021 December 31, 2020 Outstanding Debt: Credit and Security Agreement (1) Term Loan 1.85% $ 125,625 $ 131,250 Revolver 1.85% 150,453 151,326 Equipment Financing (2) 2.25% to 5.13% 112,158 129,870 Real Estate Financing (3) 1.95% to 2.35% 45,255 49,248 Margin Facility (4) 1.20% — — Unamortized debt issuance costs (1,334 ) (1,574 ) 432,157 460,120 Less current portion of long-term debt 60,008 59,713 Total long-term debt, net of current portion $ 372,149 $ 400,407 (1) Our Credit and Security Agreement (the “Credit Agreement”) provides for maximum borrowings of $350 million in the form of a $150 million term loan and a $200 million revolver. Term loan proceeds were advanced on November 27, 2018 and mature on November 26, 2023. The term loan will be repaid in consecutive quarterly installments, as defined in the Credit Agreement, commencing March 31, 2019, with the remaining balance due at maturity. Borrowings under the revolving credit facility may be made until and mature on November 26, 2023. Borrowings under the Credit Agreement bear interest at LIBOR or a base rate plus an applicable margin for each based the Company’s leverage ratio. The Credit Agreement is secured by a first priority pledge of the capital stock of applicable subsidiaries, as well as first priority perfected security interest in cash, deposits, accounts receivable, and selected other assets of the applicable borrowers. The Credit Agreement includes customary affirmative and negative covenants and events of default, as well as financial covenants requiring minimum fixed charge coverage and leverage ratios, and customary mandatory prepayments provisions. At July 3, 2021, we were in compliance with all covenants under the facility, and $49.5 million was available for borrowing on the revolver ( 6 ) Debt – continued (2) Our Equipment Financing consists of a series of promissory notes issued by a wholly owned subsidiary. The equipment notes, which are secured by liens on specific titled vehicles, include certain affirmative and negative covenants, are generally payable in 60 monthly installments and bear interest at fixed rates ranging from 2.25% to 5.13%. (3) Our Real Estate Financing consists of a series of promissory notes issued by a wholly owned subsidiary. The promissory notes, which are secured by first mortgages and assignment of leases on specific parcels of real estate and improvements, include certain affirmative and negative covenants and are generally payable in 120 monthly installments. Each of the notes bears interest at a variable rate ranging from LIBOR plus 1.85% to LIBOR plus 2.25%. At July 3, 2021, we were in compliance with all covenants. (4) Our Margin Facility is a short-term line of credit secured by our portfolio of marketable securities. It bears interest at LIBOR plus 1.10%. The amount available under the line of credit is based on a percentage of the market value of the underlying securities. At July 3, 2021, the maximum available borrowings under the line of credit were $4.2 million.

Fair Value Measurements and D_2

Fair Value Measurements and Disclosures (Tables)	6 Months Ended
	Jul. 03, 2021
Fair Value Disclosures [Abstract]
Financial Assets and Liabilities Measured at Fair Value on Recurring Basis	We have segregated all financial assets and liabilities that are measured at fair value on a recurring basis into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value at the measurement date in the tables below (in thousands): July 3, 2021 Level 1 Level 2 Level 3 Fair Value Measurement Assets Cash equivalents $ 9 $ — $ — $ 9 Marketable securities 7,915 — — 7,915 Total $ 7,924 $ — $ — $ 7,924 Liabilities Interest rate swaps $ — $ 420 $ — $ 420 Total $ — $ 420 $ — $ 420 December 31, 2020 Level 1 Level 2 Level 3 Fair Value Measurement Assets Cash equivalents $ 9 $ — $ — $ 9 Marketable securities 6,534 — — 6,534 Total $ 6,543 $ — $ — $ 6,543 Liabilities Interest rate swaps $ — $ 619 $ — $ 619 Total $ — $ 619 $ — $ 619
Summary of Carrying Values and Estimated Fair Values of Promissory Notes	The carrying value and estimated fair value of these promissory notes at July 3, 2021 is summarized as follows: Carrying Value Estimated Fair Value Equipment promissory notes $ 112,158 $ 114,406

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jul. 03, 2021
Leases [Abstract]
Summary of Lease Costs	The following table summarizes our lease costs for the thirteen weeks and twenty-six weeks ended July 3, 2021 and July 4, 2020 (in thousands): Thirteen weeks ended July 3, 2021 With Affiliates With Third Parties Total Lease cost Operating lease cost $ 2,514 $ 5,840 $ 8,354 Short-term lease cost 26 2,840 2,866 Variable lease cost 210 799 1,009 Sublease income - (265 ) (265 ) Total lease cost $ 2,750 $ 9,214 $ 11,964 Thirteen weeks ended July 4, 2020 With Affiliates With Third Parties Total Lease cost Operating lease cost $ 2,434 $ 5,840 $ 8,274 Short-term lease cost 166 1,074 1,240 Variable lease cost 40 970 1,010 Sublease income - (724 ) (724 ) Total lease cost $ 2,640 $ 7,160 $ 9,800 (8) Leases – continued Twenty-six weeks ended July 3, 2021 With Affiliates With Third Parties Total Lease cost Operating lease cost $ 5,041 $ 11,642 $ 16,683 Short-term lease cost 27 3,996 4,023 Variable lease cost 420 1,388 1,808 Sublease income - (1,024 ) (1,024 ) Total lease cost $ 5,488 $ 16,002 $ 21,490 Twenty-six weeks ended July 4, 2020 With Affiliates With Third Parties Total Lease cost Operating lease cost $ 5,270 $ 11,799 $ 17,069 Short-term lease cost 407 2,271 2,678 Variable lease cost 267 1,763 2,030 Sublease income - (1,603 ) (1,603 ) Total lease cost $ 5,944 $ 14,230 $ 20,174
Summary of Other Lease Related Information	The following table summarizes other lease related information as of and for the twenty-six week periods ended July 3, 2021 and July 4, 2020 (in thousands): July 3, 2021 With Affiliates With Third Parties Total Other information Cash paid for amounts included in the measurement of operating leases $ 4,831 $ 11,310 $ 16,141 Right-of-use assets obtained in exchange for new operating lease liabilities $ 3,526 $ 12,880 $ 16,406 Weighted-average remaining lease term (in years) 5.8 4.7 5.1 Weighted-average discount rate 7.1 % 5.6 % 6.1 % July 4, 2020 With Affiliates With Third Parties Total Other information Cash paid for amounts included in the measurement of operating leases $ 5,193 $ 11,341 $ 16,534 Right-of-use asset change due to lease termination $ - $ (1,409 ) $ (1,409 ) Right-of-use assets obtained in exchange for new operating lease liabilities $ 1,941 $ 15,147 $ 17,088 Weighted-average remaining lease term (in years) 6.6 4.7 5.3 Weighted-average discount rate 7.8 % 4.5 % 5.7 %
Schedule of Future Minimum Lease Payments Under Operating Leases	Future minimum lease payments under these operating leases as of July 3, 2021, are as follows (in thousands): With Affiliates With Third Parties Total Year one $ 8,522 $ 19,879 $ 28,401 Year two 7,090 16,077 23,167 Year three 6,731 13,491 20,222 Year four 6,345 12,386 18,731 Year five 3,601 10,376 13,977 Thereafter 9,724 6,992 16,716 Total required lease payments $ 42,013 $ 79,201 $ 121,214 Less amounts representing interest (16,962 ) Present value of lease liabilities $ 104,252

Transactions with Affiliates (T

Transactions with Affiliates (Tables)	6 Months Ended
	Jul. 03, 2021
Related Party Transactions [Abstract]
Schedule of Amounts Charged to UTSI	Following is a schedule of costs incurred and included in operating expenses for services provided by affiliates for the thirteen weeks and twenty-six weeks ended July 3, 2021 and July 4, 2020, respectively (in thousands): Thirteen weeks ended Twenty-six weeks ended July 3, 2021 July 4, 2020 July 3, 2021 July 4, 2020 Administrative support services $ 1,882 $ 343 $ 1,997 $ 532 Truck fuel, tolls and maintenance 233 104 411 410 Real estate rent and related costs 3,357 3,506 6,271 6,814 Insurance and employee benefit plans 11,807 7,353 23,303 20,507 Purchased transportation and equipment rent 10 6 19 11 Total $ 17,289 $ 11,312 $ 32,001 $ 28,274
Schedule of Services Provided to Affiliates	Following is a schedule of services provided to affiliates for the thirteen weeks and twenty-six weeks ended July 3, 2021 and July 4, 2020 (in thousands): Thirteen weeks ended Twenty-six weeks ended July 3, 2021 July 4, 2020 July 3, 2021 July 4, 2020 Purchased transportation and equipment rent $ 209 $ 221 $ 258 $ 356 Total $ 209 $ 221 $ 258 $ 356

Stock Based Compensation (Table

Stock Based Compensation (Tables)	6 Months Ended
	Jul. 03, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Status of Nonvested Shares	The following table summarizes the status of the Company’s non-vested shares and related information for the period indicated: Shares Weighted Average Date Non-vested at January 1, 2021 85,625 $ 19.90 Granted — $ - Vested (6,875 ) $ 23.56 Forfeited — $ - Balance at July 3, 2021 78,750 $ 19.58

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jul. 03, 2021
Segment Reporting [Abstract]
Summary of Company's Reportable Segment Information	The following tables summarize information about our reportable segments for the thirteen week and twenty-six week periods ended July 3, 2021 and July 4, 2020 (in thousands): Operating Revenues Thirteen weeks ended Twenty-six weeks ended July 3, 2021 July 4, 2020 July 3, 2021 July 4, 2020 Contract logistics $ 154,770 $ 71,794 $ 309,664 $ 198,837 Intermodal 106,601 82,881 210,318 193,203 Trucking 99,778 63,004 194,678 154,573 Company-managed brokerage 60,431 39,946 121,537 92,727 Other 1,203 355 1,818 802 Total operating revenues $ 422,783 $ 257,980 $ 838,015 $ 640,142 Eliminated Inter-segment Revenues Thirteen weeks ended Twenty-six weeks ended July 3, 2021 July 4, 2020 July 3, 2021 July 4, 2020 Contract logistics $ 92 $ 1,121 $ 379 $ 1,356 Intermodal 1,308 306 2,385 643 Trucking 7,095 1,429 12,551 2,111 Company-managed brokerage 443 362 980 954 Total operating revenues $ 8,938 $ 3,218 $ 16,295 $ 5,064 Income from Operations Thirteen weeks ended Twenty-six weeks ended July 3, 2021 July 4, 2020 July 3, 2021 July 4, 2020 Contract logistics $ 15,946 $ 750 $ 32,766 $ 12,440 Intermodal 6,152 4,739 14,646 13,739 Trucking 6,482 3,594 11,672 8,094 Company-managed brokerage 2,445 1,702 2,886 305 Other 288 54 499 169 Total operating revenues $ 31,313 $ 10,839 $ 62,469 $ 34,747

Recent Accounting Pronounceme_3

Recent Accounting Pronouncements - Additional Information (Detail) - ASU 2020-04 [Member]	Jul. 03, 2021
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true
Change in Accounting Principle, Accounting Standards Update, Adoption Date	Mar. 12, 2020
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false]	true

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Detail)	6 Months Ended
	Jul. 03, 2021
Revenue Recognition Multiple Deliverable Arrangements [Line Items]
Payment receivable obligation term for completion of transportation services	45 days
Payment receivable obligation for completion of value added services	65 days
Maximum [Member]
Revenue Recognition Multiple Deliverable Arrangements [Line Items]
Transportation services term	1 year

Revenue Recognition - Contact B

Revenue Recognition - Contact Balances Associated with Customers (Detail) - USD ($) $ in Thousands	Jul. 03, 2021	Dec. 31, 2020
Other Current Assets [Member]
Disaggregation Of Revenue [Line Items]
Prepaid expenses and other - contract assets	$ 1,873	$ 2,520

Marketable Securities - Schedul

Marketable Securities - Schedule of Market Value, Cost and Unrealized Gains on Equity Securities (Detail) - USD ($) $ in Thousands	Jul. 03, 2021	Dec. 31, 2020
Investments Debt And Equity Securities [Abstract]
Fair value	$ 7,915	$ 6,534
Cost	6,426	6,579
Unrealized gain (loss)	$ 1,489	$ (45)

Marketable Securities - Sched_2

Marketable Securities - Schedule of Gross Unrealized Gains and Losses on Marketable Securities (Detail) - USD ($) $ in Thousands	Jul. 03, 2021	Dec. 31, 2020
Investments Debt And Equity Securities [Abstract]
Gross unrealized gains	$ 2,434	$ 1,627
Gross unrealized losses	(945)	(1,672)
Net unrealized gains (losses)	$ 1,489	$ (45)

Marketable Securities - Summary

Marketable Securities - Summary of Net Realized Gains (Loss) on Marketable Equity Securities (Detail) $ in Thousands	6 Months Ended
	Jul. 03, 2021USD ($)
Realized gain
Sale proceeds	$ 117
Cost basis of securities sold	92
Realized gain	25
Realized gain, net of taxes	$ 19

Marketable Securities - Additio

Marketable Securities - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jul. 04, 2020	Jul. 03, 2021	Jul. 04, 2020
Other Nonoperating Income (Expense)
Schedule Of Available For Sale Securities [Line Items]
Net unrealized pre-tax gain (loss) in market value	$ 385,000	$ 875,000	$ 1,359,000	$ (2,534,000)

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities - Schedule of Accrued Expenses and Other Current Liabilities (Detail) - USD ($) $ in Thousands	Jul. 03, 2021	Dec. 31, 2020
Payables And Accruals [Abstract]
Accrued payroll	$ 14,564	$ 11,536
Accrued payroll taxes	11,094	11,601
Driver escrow liabilities	4,020	4,045
Legal settlements and claims	5,635	3,700
Commissions, taxes and other	6,051	8,706
Total	$ 41,364	$ 39,588

Debt - Details of Debt (Detail)

Debt - Details of Debt (Detail) - USD ($) $ in Thousands		Jul. 03, 2021	Dec. 31, 2020
Outstanding Debt:
Unamortized debt issuance costs		$ (1,334)	$ (1,574)
Outstanding Debt		432,157	460,120
Less current portion of long-term debt		60,008	59,713
Total long-term debt, net of current portion		372,149	400,407
Credit and Security Agreement [Member] | Term Loan [Member]
Outstanding Debt:
Outstanding Debt	[1]	$ 125,625	131,250
Credit facility, Interest Rates	[1]	1.85%
Credit and Security Agreement [Member] | Revolver [Member]
Outstanding Debt:
Outstanding Debt	[1]	$ 150,453	151,326
Credit facility, Interest Rates	[1]	1.85%
Equipment Financing [Member]
Outstanding Debt:
Outstanding Debt	[2]	$ 112,158	129,870
Equipment Financing [Member] | Minimum [Member]
Outstanding Debt:
Credit facility, Interest Rates	[2]	2.25%
Equipment Financing [Member] | Maximum [Member]
Outstanding Debt:
Credit facility, Interest Rates	[2]	5.13%
Real Estate Financing [Member]
Outstanding Debt:
Outstanding Debt	[3]	$ 45,255	$ 49,248
Real Estate Financing [Member] | Minimum [Member]
Outstanding Debt:
Credit facility, Interest Rates	[3]	1.95%
Real Estate Financing [Member] | Maximum [Member]
Outstanding Debt:
Credit facility, Interest Rates	[3]	2.35%
Margin Facility [Member]
Outstanding Debt:
Credit facility, Interest Rates	[4]	1.20%
[1]	Our Credit and Security Agreement (the “Credit Agreement”) provides for maximum borrowings of $350 million in the form of a $150 million term loan and a $200 million revolver. Term loan proceeds were advanced on November 27, 2018 and mature on November 26, 2023. The term loan will be repaid in consecutive quarterly installments, as defined in the Credit Agreement, commencing March 31, 2019, with the remaining balance due at maturity. Borrowings under the revolving credit facility may be made until and mature on November 26, 2023. Borrowings under the Credit Agreement bear interest at LIBOR or a base rate plus an applicable margin for each based the Company’s leverage ratio. The Credit Agreement is secured by a first priority pledge of the capital stock of applicable subsidiaries, as well as first priority perfected security interest in cash, deposits, accounts receivable, and selected other assets of the applicable borrowers. The Credit Agreement includes customary affirmative and negative covenants and events of default, as well as financial covenants requiring minimum fixed charge coverage and leverage ratios, and customary mandatory prepayments provisions. At July 3, 2021, we were in compliance with all covenants under the facility, and $49.5 million was available for borrowing on the revolver
[2]	Our Equipment Financing consists of a series of promissory notes issued by a wholly owned subsidiary. The equipment notes, which are secured by liens on specific titled vehicles, include certain affirmative and negative covenants, are generally payable in 60 monthly installments and bear interest at fixed rates ranging from 2.25% to 5.13%.
[3]	Our Real Estate Financing consists of a series of promissory notes issued by a wholly owned subsidiary. The promissory notes, which are secured by first mortgages and assignment of leases on specific parcels of real estate and improvements, include certain affirmative and negative covenants and are generally payable in 120 monthly installments.  Each of the notes bears interest at a variable rate ranging from LIBOR plus 1.85% to LIBOR plus 2.25%. At July 3, 2021, we were in compliance with all covenants.
[4]	Our Margin Facility is a short-term line of credit secured by our portfolio of marketable securities. It bears interest at LIBOR plus 1.10%. The amount available under the line of credit is based on a percentage of the market value of the underlying securities. At July 3, 2021, the maximum available borrowings under the line of credit were $4.2 million.

Debt - Details of Debt (Parenth

Debt - Details of Debt (Parenthetical) (Detail)	6 Months Ended
	Jul. 03, 2021USD ($)Installment
Debt Instrument [Line Items]
Description of variable rate basis	LIBOR rate plus 2.25%
Credit and Security Agreement [Member]
Debt Instrument [Line Items]
Credit facility, borrowing capacity	$ 350,000,000
Credit facility available for borrowings	49,500,000
Credit and Security Agreement [Member] | Term Loan [Member]
Debt Instrument [Line Items]
Term loan, face amount	$ 150,000,000
Term loan, maturity date	Nov. 26, 2023
Term loan, payment commencement date	Mar. 31, 2019
Credit and Security Agreement [Member] | Revolver [Member]
Debt Instrument [Line Items]
Credit facility, borrowing capacity	$ 200,000,000
Credit facility, expiration date	Nov. 26, 2023
Equipment Financing [Member]
Debt Instrument [Line Items]
Number of installments | Installment	60
Frequency of installments	monthly
Equipment Financing [Member] | Minimum [Member]
Debt Instrument [Line Items]
Credit facility, Interest Rates	2.25%	[1]
Equipment Financing [Member] | Maximum [Member]
Debt Instrument [Line Items]
Credit facility, Interest Rates	5.13%	[1]
Real Estate Financing [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Frequency of installments	monthly
Debt instrument payable number of monthly installments | Installment	120
Real Estate Financing [Member] | Minimum [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Description of variable rate basis	LIBOR plus 1.85%
Real Estate Financing [Member] | Minimum [Member] | Secured Debt [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Interest rate above variable base rate	1.85%
Real Estate Financing [Member] | Maximum [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Description of variable rate basis	LIBOR plus 2.25%
Real Estate Financing [Member] | Maximum [Member] | Secured Debt [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Interest rate above variable base rate	2.25%
Margin Facility [Member]
Debt Instrument [Line Items]
Credit facility available for borrowings	$ 4,200,000
Description of variable rate basis	LIBOR plus 1.10%
Margin Facility [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Interest rate above variable base rate	1.10%
[1]	Our Equipment Financing consists of a series of promissory notes issued by a wholly owned subsidiary. The equipment notes, which are secured by liens on specific titled vehicles, include certain affirmative and negative covenants, are generally payable in 60 monthly installments and bear interest at fixed rates ranging from 2.25% to 5.13%.

Debt - Additional Information (

Debt - Additional Information (Detail)	6 Months Ended
	Jul. 03, 2021USD ($)Agreement
Line Of Credit Facility [Line Items]
Number of swap agreements | Agreement	2
Notional amount	$ 12,000,000
Description of variable rate basis	LIBOR rate plus 2.25%
LIBOR [Member]
Line Of Credit Facility [Line Items]
Derivative variable rate	2.25%
First Swap [Member]
Line Of Credit Facility [Line Items]
Notional amount	$ 10,000,000
Interest accrued percentage	4.16%
Effective date	2016-10
Maturity date	2026-07
Second Swap [Member]
Line Of Credit Facility [Line Items]
Notional amount	$ 2,000,000
Interest accrued percentage	3.83%
Effective date	2016-10
Maturity date	2022-05
Interest Rate Swap [Member]
Line Of Credit Facility [Line Items]
Fair value asset of swap agreement	$ 400,000

Fair Value Measurements and D_3

Fair Value Measurements and Disclosures - Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Jul. 03, 2021	Dec. 31, 2020
Assets
Marketable securities	$ 7,915	$ 6,534
Fair Value, Measurements, Recurring [Member]
Assets
Cash equivalents	9	9
Marketable securities	7,915	6,534
Total	7,924	6,543
Liabilities
Interest rate swaps	420	619
Total	420	619
Fair Value, Measurements, Recurring [Member] | Level 1 [Member]
Assets
Cash equivalents	9	9
Marketable securities	7,915	6,534
Total	7,924	6,543
Fair Value, Measurements, Recurring [Member] | Level 2 [Member]
Liabilities
Interest rate swaps	420	619
Total	$ 420	$ 619

Fair Value Measurements and D_4

Fair Value Measurements and Disclosures - Summary of Carrying Values and Estimated Fair Values of Promissory Notes (Detail) - Equipment Promissory Notes [Member]	Jul. 03, 2021USD ($)
Carrying Value [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt instrument	$ 112,158
Estimated Fair Value [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt instrument	$ 114,406

Leases - Summary of Lease Costs

Leases - Summary of Lease Costs (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jul. 04, 2020	Jul. 03, 2021	Jul. 04, 2020
Lease cost
Operating lease cost	$ 8,354	$ 8,274	$ 16,683	$ 17,069
Short-term lease cost	2,866	1,240	4,023	2,678
Variable lease cost	1,009	1,010	1,808	2,030
Sublease income	(265)	(724)	(1,024)	(1,603)
Total lease cost	11,964	9,800	21,490	20,174
With Affiliates [Member]
Lease cost
Operating lease cost	2,514	2,434	5,041	5,270
Short-term lease cost	26	166	27	407
Variable lease cost	210	40	420	267
Total lease cost	2,750	2,640	5,488	5,944
With Third Parties [Member]
Lease cost
Operating lease cost	5,840	5,840	11,642	11,799
Short-term lease cost	2,840	1,074	3,996	2,271
Variable lease cost	799	970	1,388	1,763
Sublease income	(265)	(724)	(1,024)	(1,603)
Total lease cost	$ 9,214	$ 7,160	$ 16,002	$ 14,230

Leases - Summary of Other Lease

Leases - Summary of Other Lease Related Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jul. 03, 2021	Jul. 04, 2020
Other information
Cash paid for amounts included in the measurement of operating leases	$ 16,141	$ 16,534
Right-of-use asset change due to lease termination		(1,409)
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 16,406	$ 17,088
Weighted-average remaining lease term (in years)	5 years 1 month 6 days	5 years 3 months 18 days
Weighted-average discount rate	6.10%	5.70%
With Affiliates [Member]
Other information
Cash paid for amounts included in the measurement of operating leases	$ 4,831	$ 5,193
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 3,526	$ 1,941
Weighted-average remaining lease term (in years)	5 years 9 months 18 days	6 years 7 months 6 days
Weighted-average discount rate	7.10%	7.80%
With Third Parties [Member]
Other information
Cash paid for amounts included in the measurement of operating leases	$ 11,310	$ 11,341
Right-of-use asset change due to lease termination		(1,409)
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 12,880	$ 15,147
Weighted-average remaining lease term (in years)	4 years 8 months 12 days	4 years 8 months 12 days
Weighted-average discount rate	5.60%	4.50%

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Lease Payments Under Operating Leases (Detail) $ in Thousands	Jul. 03, 2021USD ($)
Lease Disclosure [Line Items]
Year one	$ 28,401
Year two	23,167
Year three	20,222
Year four	18,731
Year five	13,977
Thereafter	16,716
Total required lease payments	121,214
Less amounts representing interest	(16,962)
Present value of lease liabilities	104,252
With Affiliates [Member]
Lease Disclosure [Line Items]
Year one	8,522
Year two	7,090
Year three	6,731
Year four	6,345
Year five	3,601
Thereafter	9,724
Total required lease payments	42,013
With Third Parties [Member]
Lease Disclosure [Line Items]
Year one	19,879
Year two	16,077
Year three	13,491
Year four	12,386
Year five	10,376
Thereafter	6,992
Total required lease payments	$ 79,201

Transactions with Affiliates -

Transactions with Affiliates - Schedule of Amounts Charged to UTSI (Detail) - Affiliates [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jul. 04, 2020	Jul. 03, 2021	Jul. 04, 2020
Related Party Transaction [Line Items]
Cost incurred for services provided by CenTra and affiliates	$ 17,289	$ 11,312	$ 32,001	$ 28,274
Administrative support services [Member]
Related Party Transaction [Line Items]
Cost incurred for services provided by CenTra and affiliates	1,882	343	1,997	532
Truck fuel, tolls and maintenance [Member]
Related Party Transaction [Line Items]
Cost incurred for services provided by CenTra and affiliates	233	104	411	410
Real estate rent and related costs [Member]
Related Party Transaction [Line Items]
Cost incurred for services provided by CenTra and affiliates	3,357	3,506	6,271	6,814
Insurance and employee benefit plans [Member]
Related Party Transaction [Line Items]
Cost incurred for services provided by CenTra and affiliates	11,807	7,353	23,303	20,507
Purchased transportation and equipment rent [Member]
Related Party Transaction [Line Items]
Cost incurred for services provided by CenTra and affiliates	$ 10	$ 6	$ 19	$ 11

Transactions with Affiliates _2

Transactions with Affiliates - Additional Information (Detail)	6 Months Ended
	Jul. 03, 2021USD ($)	Jul. 04, 2020USD ($)Facility	Dec. 31, 2020USD ($)
Related Party Transaction [Line Items]
Number of facilities leased from related parties occupied on monthly or contractual basis | Facility		28
Insurance, claims and other receivables	$ 14,600,000		$ 13,300,000
Due to affiliates	13,979,000		17,093,000
Due from affiliates	1,026,000		$ 1,224,000
Affiliates [Member] | Wheels and Tires [Member]
Related Party Transaction [Line Items]
Cost of purchase from an affiliate	$ 0	$ 618,000

Transactions with Affiliates _3

Transactions with Affiliates - Schedule of Services Provided to Affiliates (Detail) - Affiliates [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jul. 04, 2020	Jul. 03, 2021	Jul. 04, 2020
Related Party Transaction [Line Items]
Services provided to affiliates	$ 209	$ 221	$ 258	$ 356
Purchased transportation and equipment rent [Member]
Related Party Transaction [Line Items]
Services provided to affiliates	$ 209	$ 221	$ 258	$ 356

Stock Based Compensation - Addi

Stock Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	Feb. 05, 2020	Jan. 10, 2020	Feb. 20, 2019	Jul. 03, 2021	Jul. 04, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total fair value of shares vested				$ 0.2	$ 0.2
Total unrecognized compensation cost				1.5
Share based compensation cost is expected to be recognized on a straight-line basis in fiscal 2022				0.2
Share based compensation cost is expected to be recognized on a straight-line basis in fiscal 2023				0.2
Share based compensation cost is expected to be recognized on a straight-line basis in fiscal 2024				0.4
Share based compensation cost is expected to be recognized on a straight-line basis in fiscal 2026				0.3
Share based compensation cost is expected to be recognized on a straight-line basis in fiscal 2027				0.2
Share based compensation cost is expected to be recognized on a straight-line basis in fiscal 2028				$ 0.2
Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares of restricted stock granted			44,500
Restricted Stock [Member] | Vesting on January 10, 2024 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares expected to vest		20,000
Restricted Stock [Member] | Vesting on January 10, 2026 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares expected to vest		20,000
Restricted Stock [Member] | Vesting on January 10, 2027 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares expected to vest		10,000
Restricted Stock [Member] | Vesting on January 10, 2028 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares expected to vest		10,000
Restricted Stock [Member] | 2020 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted stock award grant date fair value per share			$ 23.56
Restricted Stock [Member] | 2021 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted stock award grant date fair value per share			23.56
Restricted Stock [Member] | 2022 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted stock award grant date fair value per share			23.56
Restricted Stock [Member] | 2023 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted stock award grant date fair value per share			$ 23.56
Restricted Stock [Member] | Chief Financial Officer [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares of restricted stock granted	5,000		10,000
Restricted stock award grant date fair value per share	$ 17.74
Restricted Stock [Member] | Chief Executive Officer [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares of restricted stock granted		60,000
Restricted stock award grant date fair value per share		$ 18.82

Stock Based Compensation - Summ

Stock Based Compensation - Summary of Status of Nonvested Shares (Detail) - Restricted Stock [Member] - $ / shares	Feb. 20, 2019	Jul. 03, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares Nonvested, Beginning Balance		85,625
Shares, Granted	44,500
Shares, Vested		(6,875)
Shares, Ending Balance		78,750
Weighted Average Grant Date Fair Value, Beginning Balance		$ 19.90
Weighted Average Grant Date Fair Value, Vested		23.56
Weighted Average Grant Date Fair Value, Ending Balance		$ 19.58

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jul. 04, 2020	Jul. 03, 2021	Jul. 04, 2020
Earnings Per Share [Abstract]
Weighted average non-vested shares of restricted shares	16,704	0	15,689	0
Antidilutive securities excluded from computation of earnings per share, amount	0	85,625	0	85,625

Dividends - Additional Informat

Dividends - Additional Information (Detail) - $ / shares	Apr. 29, 2021	Jul. 03, 2021	Jul. 03, 2021	Jul. 04, 2020
Earnings Per Share [Abstract]
Dividends payable, date declared	Apr. 29, 2021
Dividends declared per common share	$ 0.105	$ 0.105	$ 0.210	$ 0.105
Dividends payable, recorded date	Jun. 7, 2021
Dividends payable, date to be paid	Jul. 6, 2021

Segment Reporting - Additional

Segment Reporting - Additional Information (Detail)	3 Months Ended
	Jul. 03, 2021Segment
Segment Reporting Information [Line Items]
Number of reportable segments	4
Transportation [Member]
Segment Reporting Information [Line Items]
Number of reportable segments	3

Segment Reporting - Summary of

Segment Reporting - Summary of Company's Reportable Segment Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 03, 2021	Jul. 04, 2020	Jul. 03, 2021	Jul. 04, 2020
Segment Reporting Information [Line Items]
Total operating revenues	$ 422,783	$ 257,980	$ 838,015	$ 640,142
Income from operations	31,313	10,839	62,469	34,747
Operating Segments [Member] | Contract Logistics [Member]
Segment Reporting Information [Line Items]
Total operating revenues	154,770	71,794	309,664	198,837
Income from operations	15,946	750	32,766	12,440
Operating Segments [Member] | Intermodal [Member]
Segment Reporting Information [Line Items]
Total operating revenues	106,601	82,881	210,318	193,203
Income from operations	6,152	4,739	14,646	13,739
Operating Segments [Member] | Trucking [Member]
Segment Reporting Information [Line Items]
Total operating revenues	99,778	63,004	194,678	154,573
Income from operations	6,482	3,594	11,672	8,094
Operating Segments [Member] | Company-Managed Brokerage [Member]
Segment Reporting Information [Line Items]
Total operating revenues	60,431	39,946	121,537	92,727
Income from operations	2,445	1,702	2,886	305
Other [Member]
Segment Reporting Information [Line Items]
Total operating revenues	1,203	355	1,818	802
Income from operations	288	54	499	169
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Total operating revenues	8,938	3,218	16,295	5,064
Intersegment Eliminations [Member] | Contract Logistics [Member]
Segment Reporting Information [Line Items]
Total operating revenues	92	1,121	379	1,356
Intersegment Eliminations [Member] | Intermodal [Member]
Segment Reporting Information [Line Items]
Total operating revenues	1,308	306	2,385	643
Intersegment Eliminations [Member] | Trucking [Member]
Segment Reporting Information [Line Items]
Total operating revenues	7,095	1,429	12,551	2,111
Intersegment Eliminations [Member] | Company-Managed Brokerage [Member]
Segment Reporting Information [Line Items]
Total operating revenues	$ 443	$ 362	$ 980	$ 954

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Millions	Dec. 31, 2021USD ($)	Sep. 30, 2021USD ($)	Jun. 21, 2021USD ($)	Jun. 09, 2021USD ($)	May 17, 2021USD ($)Subsidiary	Jul. 03, 2021USD ($)	Jul. 03, 2021USD ($)	Jun. 01, 2021USD ($)
Concentration Risk [Line Items]
Number of company's operating subsidiaries against the complaint received from NLRB | Subsidiary					4
Loss contingency pay back gross amount					$ 5.9
Loss contingency, accrued liability recorded						$ 1.9	$ 1.9
United States, Canada and Colombia [Member] | Workforce Subject to Collective Bargaining Arrangements [Member] | Unionized Employees Concentration Risk [Member]
Concentration Risk [Line Items]
Percentage of employees concentration							40.00%
Percentage of employees subject to contracts that expire in 2021							21.00%
Mexico [Member] | Workforce Subject to Collective Bargaining Arrangements [Member] | Unionized Employees Concentration Risk [Member]
Concentration Risk [Line Items]
Percentage of employees concentration							86.00%
Confidential Mutual Release and Settlement Agreement [Member]
Concentration Risk [Line Items]
Settlement agreement, total cash payable to be received								$ 6
Settlement agreement, cash payable in equal tranches			$ 2
Settlement agreement, gain in other non-operating income						5.7
Settlement agreement, cash received in first payment				$ 2
Confidential Mutual Release and Settlement Agreement [Member] | Forecast [Member]
Concentration Risk [Line Items]
Settlement agreement, cash payable in equal tranches	$ 2	$ 2
Minimum [Member]
Concentration Risk [Line Items]
Estimated possible range of financial exposure						0.8	$ 0.8
Maximum [Member]
Concentration Risk [Line Items]
Estimated possible range of financial exposure						$ 5.9	$ 5.9

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - $ / shares	Jul. 29, 2021	Apr. 29, 2021	Jul. 03, 2021	Jul. 03, 2021	Jul. 04, 2020
Subsequent Event [Line Items]
Dividends payable, date declared		Apr. 29, 2021
Dividends declared per common share		$ 0.105	$ 0.105	$ 0.210	$ 0.105
Dividends payable, recorded date		Jun. 7, 2021
Dividends payable, date to be paid		Jul. 6, 2021
Subsequent Event [Member]
Subsequent Event [Line Items]
Dividends payable, date declared	Jul. 29, 2021
Dividends declared per common share	$ 0.105
Dividends payable, recorded date	Sep. 6, 2021
Dividends payable, date to be paid	Oct. 4, 2021