Universal Logistics (ULH) 10-Q 11 Aug 22 2022 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jul. 02, 2022	Aug. 08, 2022
Document Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jul. 02, 2022
Document Fiscal Year Focus	2022
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		26,277,549

Unaudited Consolidated Balance

Unaudited Consolidated Balance Sheets - USD ($) $ in Thousands	Jul. 02, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 14,683	$ 13,932
Marketable securities	8,237	8,031
Accounts receivable – net of allowance for doubtful accounts of $11,667 and $7,841, respectively	400,017	341,398
Other receivables	24,636	26,318
Prepaid expenses and other	33,613	30,209
Due from affiliates	1,443	807
Total current assets	482,629	420,695
Property and equipment – net of accumulated depreciation of $356,211 and $333,833, respectively	343,729	345,583
Operating lease right-of-use asset	106,149	105,859
Goodwill	170,730	170,730
Intangible assets – net of accumulated amortization of $114,586 and $107,461, respectively	81,224	88,349
Deferred income taxes	2,060	2,060
Other assets	4,945	4,215
Total assets	1,191,466	1,137,491
Current liabilities:
Accounts payable	118,650	117,837
Current portion of long-term debt	52,448	61,160
Current portion of operating lease liabilities	28,259	24,566
Accrued expenses and other current liabilities	43,953	43,627
Insurance and claims	39,770	43,357
Due to affiliates	14,232	17,839
Income taxes payable	10,539	4,323
Total current liabilities	307,851	312,709
Long-term liabilities:
Long-term debt, net of current portion	362,868	366,188
Operating lease liabilities, net of current portion	83,584	85,984
Deferred income taxes	61,250	61,250
Other long-term liabilities	8,946	9,150
Total long-term liabilities	516,648	522,572
Shareholders' equity:
Common stock, no par value. Authorized 100,000,000 shares; 30,995,734 and 30,986,702 shares issued; 26,277,549 and 26,919,455 shares outstanding, respectively	30,995	30,988
Paid-in capital	4,794	4,639
Treasury stock, at cost; 4,718,185 and 4,067,247 shares, respectively	(96,690)	(82,385)
Retained earnings	437,182	356,071
Accumulated other comprehensive (loss):
Interest rate swaps, net of income taxes of $(193) and $(60), respectively	(567)	(178)
Foreign currency translation adjustments	(8,747)	(6,925)
Total shareholders’ equity	366,967	302,210
Total liabilities and shareholders’ equity	$ 1,191,466	$ 1,137,491

Unaudited Consolidated Balanc_2

Unaudited Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jul. 02, 2022	Dec. 31, 2021
Statement Of Financial Position [Abstract]
Allowance for doubtful accounts	$ 11,667	$ 7,841
Property and equipment, accumulated depreciation	356,211	333,833
Intangible assets, accumulated amortization	$ 114,586	$ 107,461
Common stock, par value	$ 0	$ 0
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	30,995,734	30,986,702
Common stock, shares outstanding	26,277,549	26,919,455
Treasury stock, shares	4,718,185	4,067,247
Interest rate swaps, income taxes	$ (193)	$ (60)

Unaudited Consolidated Statemen

Unaudited Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021
Operating revenues:
Total operating revenues	$ 527,182	$ 422,783	$ 1,051,043	$ 838,015
Operating expenses:
Purchased transportation and equipment rent	227,215	198,031	459,346	387,363
Direct personnel and related benefits	127,334	111,000	264,002	218,552
Operating supplies and expenses	46,027	32,713	88,151	69,805
Commission expense	10,757	8,570	20,780	15,894
Occupancy expense	10,001	9,389	20,196	17,569
General and administrative	11,541	9,693	21,603	18,869
Insurance and claims	2,598	5,735	11,180	12,070
Depreciation and amortization	27,058	16,339	43,286	35,424
Total operating expenses	462,531	391,470	928,544	775,546
Income from operations	64,651	31,313	122,499	62,469
Interest income	6	14	6	32
Interest expense	(3,925)	(2,940)	(6,358)	(6,121)
Other non-operating income (expense)	(823)	6,079	130	7,085
Income before income taxes	59,909	34,466	116,277	63,465
Income tax expense	15,210	8,862	29,570	16,205
Net income	$ 44,699	$ 25,604	$ 86,707	$ 47,260
Earnings per common share:
Basic	$ 1.69	$ 0.95	$ 3.25	$ 1.76
Diluted	$ 1.69	$ 0.95	$ 3.25	$ 1.75
Weighted average number of common shares outstanding:
Basic	26,453	26,919	26,660	26,918
Diluted	26,468	26,936	26,668	26,933
Dividends declared per common share	$ 0.105	$ 0.105	$ 0.210	$ 0.210
Truckload services [Member]
Operating revenues:
Total operating revenues	$ 61,061	$ 58,880	$ 118,544	$ 118,582
Brokerage services [Member]
Operating revenues:
Total operating revenues	101,929	102,532	209,101	199,451
Intermodal services [Member]
Operating revenues:
Total operating revenues	156,865	106,601	314,478	210,318
Dedicated services [Member]
Operating revenues:
Total operating revenues	79,452	50,396	154,938	98,357
Value-added services [Member]
Operating revenues:
Total operating revenues	$ 127,875	$ 104,374	$ 253,982	$ 211,307

Unaudited Consolidated Statem_2

Unaudited Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021
Statement Of Income And Comprehensive Income [Abstract]
Net Income	$ 44,699	$ 25,604	$ 86,707	$ 47,260
Other comprehensive income (loss):
Unrealized changes in fair value of interest rate swaps, net of income taxes of $(215), $2, $(133) and $35, respectively	(630)	30	(389)	163
Foreign currency translation adjustments	1,012	(666)	(1,822)	401
Total other comprehensive income (loss)	382	(636)	(2,211)	564
Total comprehensive income	$ 45,081	$ 24,968	$ 84,496	$ 47,824

Unaudited Consolidated Statem_3

Unaudited Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021
Statement Of Income And Comprehensive Income [Abstract]
Unrealized changes in fair value of interest rate swaps, tax	$ (215)	$ 2	$ (133)	$ 35

Unaudited Consolidated Statem_4

Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021
Cash flows from operating activities:
Net income	$ 86,707	$ 47,260
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	43,286	35,424
Noncash lease expense	14,337	12,873
Gain on marketable equity securities	(92)	(1,384)
Gain on disposal of property and equipment	(2,743)	(721)
Amortization of debt issuance costs	207	240
Write-off of debt issuance costs	583
Stock-based compensation	162	162
Provision for doubtful accounts	5,501	2,597
Deferred income taxes	133	(21)
Change in assets and liabilities:
Trade and other accounts receivable	(64,438)	(32,999)
Prepaid expenses and other assets	(4,424)	(2,460)
Principal reduction in operating lease liabilities	(13,085)	(12,232)
Accounts payable, accrued expenses and other current liabilities, insurance and claims, and income taxes payable	8,154	7,637
Due to/from affiliates, net	(4,243)	(2,916)
Other long-term liabilities	(727)	(4)
Net cash provided by operating activities	69,318	53,456
Cash flows from investing activities:
Capital expenditures	(37,544)	(16,941)
Proceeds from the sale of property and equipment	5,567	3,878
Purchases of marketable securities	(114)	(114)
Proceeds from sale of marketable securities		117
Net cash used in investing activities	(32,091)	(13,060)
Cash flows from financing activities:
Proceeds from borrowing - revolving debt	262,065	191,947
Repayments of debt - revolving debt	(274,828)	(192,820)
Proceeds from borrowing - term debt	193,926	3,946
Repayments of debt - term debt	(192,262)	(31,276)
Dividends paid	(8,422)	(8,480)
Capitalized financing costs	(1,723)
Purchases of treasury stock	(14,305)
Net cash used in financing activities	(35,549)	(36,683)
Effect of exchange rate changes on cash and cash equivalents	(927)	622
Net increase in cash	751	4,335
Cash and cash equivalents – beginning of period	13,932	8,763
Cash and cash equivalents – end of period	14,683	13,098
Supplemental cash flow information:
Cash paid for interest	5,638	5,993
Cash paid for income taxes	$ 23,368	$ 22,909

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, 2020	$ 239,573	$ 30,981	$ 4,484	$ (82,385)	$ 293,643	$ (7,150)
Net income	21,656				21,656
Comprehensive income	1,200					1,200
Dividends paid	(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	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	(636)					(636)
Dividends paid	(2,786)				(2,786)
Balances at Jul. 03, 2021	281,908	30,988	4,639	(82,385)	335,252	(6,586)
Balances at Dec. 31, 2021	302,210	30,988	4,639	(82,385)	356,071	(7,103)
Net income	42,008				42,008
Comprehensive income	(2,593)					(2,593)
Purchases of treasury stock	(5,254)			(5,254)
Dividends paid	(2,819)				(2,819)
Stock based compensation	162	7	155
Balances at Apr. 02, 2022	333,714	30,995	4,794	(87,639)	395,260	(9,696)
Balances at Dec. 31, 2021	302,210	30,988	4,639	(82,385)	356,071	(7,103)
Net income	86,707
Comprehensive income	(2,211)
Balances at Jul. 02, 2022	366,967	30,995	4,794	(96,690)	437,182	(9,314)
Balances at Apr. 02, 2022	333,714	30,995	4,794	(87,639)	395,260	(9,696)
Net income	44,699				44,699
Comprehensive income	382					382
Purchases of treasury stock	(9,051)			(9,051)
Dividends paid	(2,777)				(2,777)
Balances at Jul. 02, 2022	$ 366,967	$ 30,995	$ 4,794	$ (96,690)	$ 437,182	$ (9,314)

Unaudited Consolidated Statem_6

Unaudited Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Jul. 02, 2022	Apr. 02, 2022	Jul. 03, 2021	Apr. 03, 2021
Statement Of Stockholders Equity [Abstract]
Dividends paid per share	$ 0.105	$ 0.105	$ 0.105	$ 0.105

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jul. 02, 2022
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 (“Universal”) have been prepared by the Company’s management. In these notes, the terms “us,” “we,” “our,” or the “Company” refer to Universal and its consolidated subsidiaries. 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, 2021 and 2020 and for each of the years in the three-year period ended December 31, 2021 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. In June 2022, the Company made a change in an accounting estimate to revise the estimated useful life and salvage values of certain equipment. The change resulted in additional depreciation expense of $9.7 million recorded during the thirteen weeks and twenty-six weeks ended July 2, 2022 ($7.2 million net of tax, or $0.27 per basic and diluted share). 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. 02, 2022
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. 02, 2022
Revenue Recognition [Abstract]
Revenue Recognition	(3) Revenue Recognition Universal is a holding company that owns subsidiaries engaged in providing customized transportation and logistics services. For financial reporting, we broadly group the services provided by Universal’s consolidated subsidiaries 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 2, 2022 December 31, 2021 Prepaid expenses and other - contract assets $ 1,930 $ 2,023 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. 02, 2022
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 basis, and unrealized gains on equity securities (in thousands): July 2, 2022 December 31, 2021 Fair value $ 8,237 $ 8,031 Cost basis 6,540 6,426 Unrealized gain $ 1,697 $ 1,605 The following table sets forth the gross unrealized gains and losses on the Company’s marketable securities (in thousands): July 2, 2022 December 31, 2021 Gross unrealized gains $ 2,624 $ 2,574 Gross unrealized losses (927 ) (969 ) Net unrealized gains $ 1,697 $ 1,605 The following table shows the Company’s net realized gains (losses) on marketable equity securities (in thousands): Thirteen weeks ended Twenty-six weeks ended July 2, 2022 July 3, 2021 July 2, 2022 July 3, 2021 Realized gain Sale proceeds $ — $ — $ — $ 117 Cost basis of securities sold — — — 92 Realized gain $ — $ — $ — $ 25 Realized gain, net of taxes $ — $ — $ — $ 19 The Company did not sell marketable equity securities during the thirteen-week or twenty-six week periods ended July 2, 2022, or in the thirteen-week period ended July 3, 2021. During the thirteen-week and twenty-six week periods ended July 2, 2022, our marketable equity securities portfolio experienced a net unrealized pre-tax gain (loss) in market value of approximately $(857,000) and $92,000, respectively, which was reported in other non-operating income (expense) for the period. During the thirteen-week and twenty-six week periods ended July 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.

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	6 Months Ended
	Jul. 02, 2022
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 2, 2022 December 31, 2021 Accrued payroll $ 15,953 $ 13,645 Accrued payroll taxes 7,316 7,132 Driver escrow liabilities 3,776 3,754 Legal settlements and claims 9,350 9,350 Commissions, other taxes and other 7,558 9,746 Total $ 43,953 $ 43,627

Debt

Debt	6 Months Ended
	Jul. 02, 2022
Debt Disclosure [Abstract]
Debt	( 6 ) Debt Debt is comprised of the following (in thousands): Interest Rates at July 2, 2022 July 2, 2022 December 31, 2021 Outstanding Debt: Revolving Credit Facility (1) 3.29% $ 150,494 $ 163,257 Equipment Financing (2) 2.25% to 5.13% 104,254 103,298 Real Estate Facility (3) 3.65% 162,594 — Margin Facility (4) 2.89% — — Debt paid upon refinancing: Term Loan (1) (3) NA — 120,000 Real Estate Notes (3) NA — 41,887 Unamortized debt issuance costs (2,026 ) (1,094 ) 415,316 427,348 Less current portion of long-term debt 52,448 61,160 Total long-term debt, net of current portion $ 362,868 $ 366,188 (1) Our Revolving Credit Facility provides for maximum borrowings of $350 million in the form of a $200 million revolver, and it previously included a $150 million term loan. Borrowings under the Revolving Credit Facility may be made until and mature on November 26, 2023, and they bear interest at LIBOR or a base rate plus an applicable margin for each based the Company’s leverage ratio. The t The Revolving Credit Facility is secured by a first priority pledge of the capital stock of applicable subsidiaries, as well as first priority perfected security interests in cash, deposits, accounts receivable, and selected other assets of the applicable borrowers. The Revolving Credit Facility 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 2, 2022, 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, are generally payable in 60 monthly installments and bear interest at fixed rates ranging from 2.25% to 5.13%. (3) Our Real Estate Facility provides for a $165.4 million term loan, the full amount of which was advanced on April 29, 2022. The Company used the facility’s proceeds to repay the outstanding balances under the term loan portion of the Revolving Credit Facility and certain other Real Estate Financing obligations. The facility matures on April 29, 2032. Obligations under the facility are secured by first-priority mortgages on specific parcels of real estate owned by the Company, including all land and real property improvements, and first-priority assignments of rents and related leases of the loan parties. The credit agreement includes customary affirmative and negative covenants, and principal and interest are payable on the facility on a monthly basis, based on an annual amortization of 10%. The facility bears interest at Term SOFR, plus an applicable margin equal to 2.12%. At July 2, 2022, we were in compliance with all covenants under the facility. (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 2, 2022, the maximum available borrowings under the line of credit were $4.6 million. The Company is also party to an interest rate swap agreement that qualifies for hedge accounting. The Company executed the swap agreement to fix a portion of the interest rate on its variable rate debt. Under the swap agreement, the Company receives interest at Term SOFR and pays a fixed rate of 2.88%. The swap agreement has an effective date of April 29, 2022, a maturity date of April 30, 2027, and an amortizing notional amount of $98.3 million. At July 2, 2022, the fair value of the swap agreement was a liability of $0.8 million. Since the swap agreement qualifies 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. 02, 2022
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 2, 2022 Level 1 Level 2 Level 3 Fair Value Measurement Assets Cash equivalents $ 14 $ — $ — $ 14 Marketable securities 8,237 — — 8,237 Total $ 8,251 $ — $ — $ 8,251 Liabilities Interest rate swaps $ — $ 760 $ — $ 760 Total $ — $ 760 $ — $ 760 December 31, 2021 Level 1 Level 2 Level 3 Fair Value Measurement Assets Cash equivalents $ 10 $ — $ — $ 10 Marketable securities 8,031 — — 8,031 Total $ 8,041 $ — $ — $ 8,041 Liabilities Interest rate swaps $ — $ 238 $ — $ 238 Total $ — $ 238 $ — $ 238 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 Revolving Credit Facility and our Real Estate Facility 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 2, 2022 is summarized as follows: Carrying Value Estimated Fair Value Equipment promissory notes $ 104,254 $ 102,330 We have not elected the fair value option for any of our financial instruments.

Leases

Leases	6 Months Ended
	Jul. 02, 2022
Leases [Abstract]
Leases	(8) Leases ASU 2016-02, Leases, requires 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 2, 2022, our obligations under operating lease arrangements primarily related to the rental of office space, warehouses, freight distribution centers, terminal yards and equipment 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 2, 2022 and July 3, 2021 (in thousands): Thirteen weeks ended July 2, 2022 With Affiliates With Third Parties Total Lease cost Operating lease cost $ 2,371 $ 6,214 $ 8,585 Short-term lease cost 630 2,195 2,825 Variable lease cost 221 784 1,005 Sublease income - (28 ) (28 ) Total lease cost $ 3,222 $ 9,165 $ 12,387 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 (8) Leases – continued Twenty-six weeks ended July 2, 2022 With Affiliates With Third Parties Total Lease cost Operating lease cost $ 4,723 $ 12,492 $ 17,215 Short-term lease cost 1,277 6,435 7,712 Variable lease cost 415 1,691 2,106 Sublease income - (113 ) (113 ) Total lease cost $ 6,415 $ 20,505 $ 26,920 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 The following table summarizes other lease related information as of and for the twenty-six week periods ended July 2, 2022 and July 3, 2021 (in thousands): July 2, 2022 With Affiliates With Third Parties Total Other information Cash paid for amounts included in the measurement of operating leases $ 4,559 $ 11,265 $ 15,824 Right-of-use assets obtained in exchange for new operating lease liabilities $ 545 $ 15,493 $ 16,038 Right-of-use assets change due to lease termination $ - $ (1,370 ) $ (1,370 ) Weighted-average remaining lease term (in years) 5.3 4.0 4.4 Weighted-average discount rate 6.6 % 4.7 % 5.4 % 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 % (8) Leases – continued Future minimum lease payments under these operating leases as of July 2, 2022, are as follows (in thousands): With Affiliates With Third Parties Total 2022 (remaining) $ 4,533 $ 12,526 $ 17,059 2023 8,550 22,435 30,985 2024 8,413 18,275 26,688 2025 6,854 15,326 22,180 2026 4,387 12,960 17,347 Thereafter 9,116 4,210 13,326 Total required lease payments $ 41,853 $ 85,732 $ 127,585 Less amounts representing interest (15,742 ) Present value of lease liabilities $ 111,843

Transactions with Affiliates

Transactions with Affiliates	6 Months Ended
	Jul. 02, 2022
Related Party Transactions [Abstract]
Transactions with Affiliates	( 9 ) Transactions with Affiliates In the ordinary course of business, affiliated companies that are owned or controlled by our controlling shareholder, Matthew T. Moroun, provide certain supplementary administrative support services to Universal, including legal, human resources, tax, IT infrastructure and other requested services. Universal’s audit committee reviews and approves related party transactions with affiliates that involve Universal or its consolidated subsidiaries. The cost of such services is based on the actual or estimated utilization of the specific service. Universal also purchases other services from companies owned or controlled by our controlling shareholder. 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 2, 2022 and July 3, 2021, respectively (in thousands): Thirteen weeks ended Twenty-six weeks ended July 2, 2022 July 3, 2021 July 2, 2022 July 3, 2021 Insurance $ 17,334 $ 11,807 $ 34,831 $ 23,303 Real estate rent and related costs 2,981 3,357 6,079 6,271 Administrative support services 1,112 1,882 2,294 1,997 Truck fuel, maintenance and other operating costs 2,010 233 3,080 411 Contracted transportation services 369 10 689 19 Total $ 23,806 $ 17,289 $ 46,973 $ 32,001 We pay 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. We lease 32 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 employee medical, workers’ compensation, property and casualty, cargo, warehousing and other general liability insurance from an insurance company controlled by our controlling shareholder. In our Consolidated Balance Sheets, we record our insured claims liability and the related recovery in insurance and claims, and other receivables. At July 2, 2022 and December 31, 2021, there were $19.2 million and $20.4 million, respectively, included in each of these accounts for insured claims. (9) Transactions with Affiliates - continued 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 2, 2022 and December 31, 2021, amounts due to affiliates were $14.2 million and $17.8 million, respectively. 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 2, 2022 and July 3, 2021 (in thousands): Thirteen weeks ended Twenty-six weeks ended July 2, 2022 July 3, 2021 July 2, 2022 July 3, 2021 Contracted transportation services $ 447 $ 209 $ 602 $ 258 Facilities and related support 60 - 120 - Total $ 507 $ 209 $ 722 $ 258 At July 2, 2022 and December 31, 2021, amounts due from affiliates were $1.4 million and $0.8 million, respectively. In June 2022, we executed a real estate contract with an affiliate to acquire a multi-building, office complex located in Warren, Michigan for $8.3 million. The purchase price was established by an independent third party appraisal. The Company made an initial deposit of $200,000, and the balance of the purchase price is due at closing, which is expected to occur in the third quarter of 2022. In May 2022, we sold an inactive Mexican subsidiary to an affiliate for approximately $0.1 million. The purchase price was based on the book value of the net assets sold in the transaction, and as such, no gain or loss was recorded. On May 13, 2022, the Company commenced a “Dutch auction” tender offer

Stock Based Compensation

Stock Based Compensation	6 Months Ended
	Jul. 02, 2022
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. In May 2022, the Company’s shareholders approved an amendment to the Plan to increase the number of shares of common stock authorized for issuance by 200,000 shares. 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 September 9, 2021, the Company granted 2,355 shares of restricted stock to an employee of the Company. The restricted stock award has a fair value of $20.46 per share, based on the closing price of the Company’s stock on the grant date. The shares will vest in five equal increments on each August 9 in 2022, 2023, 2024, 2025 and 2026, subject to continued employment with the Company 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. (10) Stock Based Compensation - continued 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. A grantee’s vesting of restricted stock awards may be accelerated under certain conditions, including retirement. 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, 2022 81,105 $ 19.60 Granted — $ - Vested (6,875 ) $ 23.56 Forfeited — $ - Balance at July 2, 2022 74,230 $ 19.24 In each of the twenty-six week periods ended July 2, 2022 and July 3, 2021, the total grant date fair value of vested shares recognized as compensation costs was $0.2 million. As of July 2, 2022, there was approximately $1.4 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 2023, $0.4 million in each 2024 and 2026, and $0.2 million in each 2027 and 2028.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jul. 02, 2022
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 2, 2022, there were 14,554 and 8,247 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 3, 2021, 16,704 and 15,689 weighted average non-vested shares of restricted stock, respectively, were included in the denominator for the calculation of diluted earnings per share. In the thirteen weeks and twenty-six weeks ended July 2, 2022, we excluded 0 and 6,875 shares, respectively, 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. 02, 2022
Earnings Per Share [Abstract]
Dividends	(1 2 ) Dividends On May 5, 2022, our Board of Directors declared a cash dividend of $0.105 per share of common stock, payable on July 5, 2022 to shareholders of record at the close of business on June 6, 2022. 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. 02, 2022
Segment Reporting [Abstract]
Segment Reporting	(1 3 ) Segment Reporting We 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 primarily by our agents 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 2, 2022 and July 3, 2021 (in thousands): Operating Revenues Thirteen weeks ended Twenty-six weeks ended July 2, 2022 July 3, 2021 July 2, 2022 July 3, 2021 Contract logistics $ 207,327 $ 154,770 $ 408,920 $ 309,664 Intermodal 156,865 106,601 314,478 210,318 Trucking 106,545 99,778 204,030 194,678 Company-managed brokerage 55,119 60,431 120,325 121,537 Other 1,326 1,203 3,290 1,818 Total operating revenues $ 527,182 $ 422,783 $ 1,051,043 $ 838,015 Eliminated Inter-segment Revenues Thirteen weeks ended Twenty-six weeks ended July 2, 2022 July 3, 2021 July 2, 2022 July 3, 2021 Contract logistics $ 1,500 $ 92 $ 3,219 $ 379 Intermodal 2,594 1,308 6,054 2,385 Trucking 51 7,095 116 12,551 Company-managed brokerage 956 443 1,834 980 Total eliminated inter-segment revenues $ 5,101 $ 8,938 $ 11,223 $ 16,295 Income from Operations Thirteen weeks ended Twenty-six weeks ended July 2, 2022 July 3, 2021 July 2, 2022 July 3, 2021 Contract logistics $ 29,425 $ 15,946 $ 52,900 $ 32,766 Intermodal 21,368 6,152 44,378 14,646 Trucking 9,611 6,482 17,030 11,672 Company-managed brokerage 4,155 2,445 8,018 2,886 Other 92 288 173 499 Total income from operations $ 64,651 $ 31,313 $ 122,499 $ 62,469

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jul. 02, 2022
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	(1 4 ) Commitments and Contingencies Commitments Our principal commitments relate to long-term real estate leases and payment obligations to equipment vendors. Legal Proceedings The Company is involved from time to time in claims, proceedings, and litigation, including the matters described in Item 16 of Part II, “Financial Statements and Supplementary Data — Note 16 — Commitments and Contingencies” of our 2021 Annual Report on Form 10-K and in Item 1 of Part I, “Financial Statements — Note 14 — Commitments and Contingencies” of our Quarterly Report on Form 10-Q for the Period Ended April 2, 2022, as supplemented by the following: On August 4, 2022, the Company reached a Non-Board Settlement Agreement (the “Settlement Agreement”) with the International Brotherhood of Teamsters resolving the previously disclosed National Labor Relations Board charges from March 2021 and January 2022. Pursuant to the terms of the Settlement Agreement, the Company is required to, among other things, reinstate certain terminated drivers and compensate them for back pay totaling approximately $2.8 million, for which the Company has an accrued liability. 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 2, 2022, approximately 38% of our employees in the United States, Canada and Colombia, and 78% of our employees in Mexico were subject to collective bargaining agreements that are renegotiated periodically, less than 1% of which are subject to contracts that expire in 2022.

Subsequent Events

Subsequent Events	6 Months Ended
	Jul. 02, 2022
Subsequent Events [Abstract]
Subsequent Events	(1 5 ) Subsequent Events On July 28, 2022, 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 5, 2022 and is expected to be paid on October 3, 2022. 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. 02, 2022
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. 02, 2022
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 2, 2022 December 31, 2021 Prepaid expenses and other - contract assets $ 1,930 $ 2,023

Marketable Securities (Tables)

Marketable Securities (Tables)	6 Months Ended
	Jul. 02, 2022
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 basis, and unrealized gains on equity securities (in thousands): July 2, 2022 December 31, 2021 Fair value $ 8,237 $ 8,031 Cost basis 6,540 6,426 Unrealized gain $ 1,697 $ 1,605
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 2, 2022 December 31, 2021 Gross unrealized gains $ 2,624 $ 2,574 Gross unrealized losses (927 ) (969 ) Net unrealized gains $ 1,697 $ 1,605
Summary of Net Realized Gains (Losses) on Marketable Equity Securities	The following table shows the Company’s net realized gains (losses) on marketable equity securities (in thousands): Thirteen weeks ended Twenty-six weeks ended July 2, 2022 July 3, 2021 July 2, 2022 July 3, 2021 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. 02, 2022
Payables And Accruals [Abstract]
Schedule of Accrued Expenses	Accrued expenses and other current liabilities are comprised of the following (in thousands): July 2, 2022 December 31, 2021 Accrued payroll $ 15,953 $ 13,645 Accrued payroll taxes 7,316 7,132 Driver escrow liabilities 3,776 3,754 Legal settlements and claims 9,350 9,350 Commissions, other taxes and other 7,558 9,746 Total $ 43,953 $ 43,627

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jul. 02, 2022
Debt Disclosure [Abstract]
Details of Debt	Debt is comprised of the following (in thousands): Interest Rates at July 2, 2022 July 2, 2022 December 31, 2021 Outstanding Debt: Revolving Credit Facility (1) 3.29% $ 150,494 $ 163,257 Equipment Financing (2) 2.25% to 5.13% 104,254 103,298 Real Estate Facility (3) 3.65% 162,594 — Margin Facility (4) 2.89% — — Debt paid upon refinancing: Term Loan (1) (3) NA — 120,000 Real Estate Notes (3) NA — 41,887 Unamortized debt issuance costs (2,026 ) (1,094 ) 415,316 427,348 Less current portion of long-term debt 52,448 61,160 Total long-term debt, net of current portion $ 362,868 $ 366,188 (1) Our Revolving Credit Facility provides for maximum borrowings of $350 million in the form of a $200 million revolver, and it previously included a $150 million term loan. Borrowings under the Revolving Credit Facility may be made until and mature on November 26, 2023, and they bear interest at LIBOR or a base rate plus an applicable margin for each based the Company’s leverage ratio. The t The Revolving Credit Facility is secured by a first priority pledge of the capital stock of applicable subsidiaries, as well as first priority perfected security interests in cash, deposits, accounts receivable, and selected other assets of the applicable borrowers. The Revolving Credit Facility 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 2, 2022, 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, are generally payable in 60 monthly installments and bear interest at fixed rates ranging from 2.25% to 5.13%. (3) Our Real Estate Facility provides for a $165.4 million term loan, the full amount of which was advanced on April 29, 2022. The Company used the facility’s proceeds to repay the outstanding balances under the term loan portion of the Revolving Credit Facility and certain other Real Estate Financing obligations. The facility matures on April 29, 2032. Obligations under the facility are secured by first-priority mortgages on specific parcels of real estate owned by the Company, including all land and real property improvements, and first-priority assignments of rents and related leases of the loan parties. The credit agreement includes customary affirmative and negative covenants, and principal and interest are payable on the facility on a monthly basis, based on an annual amortization of 10%. The facility bears interest at Term SOFR, plus an applicable margin equal to 2.12%. At July 2, 2022, we were in compliance with all covenants under the facility. (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 2, 2022, the maximum available borrowings under the line of credit were $4.6 million.

Fair Value Measurements and D_2

Fair Value Measurements and Disclosures (Tables)	6 Months Ended
	Jul. 02, 2022
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 2, 2022 Level 1 Level 2 Level 3 Fair Value Measurement Assets Cash equivalents $ 14 $ — $ — $ 14 Marketable securities 8,237 — — 8,237 Total $ 8,251 $ — $ — $ 8,251 Liabilities Interest rate swaps $ — $ 760 $ — $ 760 Total $ — $ 760 $ — $ 760 December 31, 2021 Level 1 Level 2 Level 3 Fair Value Measurement Assets Cash equivalents $ 10 $ — $ — $ 10 Marketable securities 8,031 — — 8,031 Total $ 8,041 $ — $ — $ 8,041 Liabilities Interest rate swaps $ — $ 238 $ — $ 238 Total $ — $ 238 $ — $ 238
Summary of Carrying Values and Estimated Fair Values of Promissory Notes	The carrying value and estimated fair value of these promissory notes at July 2, 2022 is summarized as follows: Carrying Value Estimated Fair Value Equipment promissory notes $ 104,254 $ 102,330

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jul. 02, 2022
Leases [Abstract]
Summary of Lease Costs	The following table summarizes our lease costs for the thirteen weeks and twenty-six weeks ended July 2, 2022 and July 3, 2021 (in thousands): Thirteen weeks ended July 2, 2022 With Affiliates With Third Parties Total Lease cost Operating lease cost $ 2,371 $ 6,214 $ 8,585 Short-term lease cost 630 2,195 2,825 Variable lease cost 221 784 1,005 Sublease income - (28 ) (28 ) Total lease cost $ 3,222 $ 9,165 $ 12,387 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 (8) Leases – continued Twenty-six weeks ended July 2, 2022 With Affiliates With Third Parties Total Lease cost Operating lease cost $ 4,723 $ 12,492 $ 17,215 Short-term lease cost 1,277 6,435 7,712 Variable lease cost 415 1,691 2,106 Sublease income - (113 ) (113 ) Total lease cost $ 6,415 $ 20,505 $ 26,920 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
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 2, 2022 and July 3, 2021 (in thousands): July 2, 2022 With Affiliates With Third Parties Total Other information Cash paid for amounts included in the measurement of operating leases $ 4,559 $ 11,265 $ 15,824 Right-of-use assets obtained in exchange for new operating lease liabilities $ 545 $ 15,493 $ 16,038 Right-of-use assets change due to lease termination $ - $ (1,370 ) $ (1,370 ) Weighted-average remaining lease term (in years) 5.3 4.0 4.4 Weighted-average discount rate 6.6 % 4.7 % 5.4 % 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 %
Schedule of Future Minimum Lease Payments Under Operating Leases	Future minimum lease payments under these operating leases as of July 2, 2022, are as follows (in thousands): With Affiliates With Third Parties Total 2022 (remaining) $ 4,533 $ 12,526 $ 17,059 2023 8,550 22,435 30,985 2024 8,413 18,275 26,688 2025 6,854 15,326 22,180 2026 4,387 12,960 17,347 Thereafter 9,116 4,210 13,326 Total required lease payments $ 41,853 $ 85,732 $ 127,585 Less amounts representing interest (15,742 ) Present value of lease liabilities $ 111,843

Transactions with Affiliates (T

Transactions with Affiliates (Tables)	6 Months Ended
	Jul. 02, 2022
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 2, 2022 and July 3, 2021, respectively (in thousands): Thirteen weeks ended Twenty-six weeks ended July 2, 2022 July 3, 2021 July 2, 2022 July 3, 2021 Insurance $ 17,334 $ 11,807 $ 34,831 $ 23,303 Real estate rent and related costs 2,981 3,357 6,079 6,271 Administrative support services 1,112 1,882 2,294 1,997 Truck fuel, maintenance and other operating costs 2,010 233 3,080 411 Contracted transportation services 369 10 689 19 Total $ 23,806 $ 17,289 $ 46,973 $ 32,001
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 2, 2022 and July 3, 2021 (in thousands): Thirteen weeks ended Twenty-six weeks ended July 2, 2022 July 3, 2021 July 2, 2022 July 3, 2021 Contracted transportation services $ 447 $ 209 $ 602 $ 258 Facilities and related support 60 - 120 - Total $ 507 $ 209 $ 722 $ 258

Stock Based Compensation (Table

Stock Based Compensation (Tables)	6 Months Ended
	Jul. 02, 2022
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, 2022 81,105 $ 19.60 Granted — $ - Vested (6,875 ) $ 23.56 Forfeited — $ - Balance at July 2, 2022 74,230 $ 19.24

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jul. 02, 2022
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 2, 2022 and July 3, 2021 (in thousands): Operating Revenues Thirteen weeks ended Twenty-six weeks ended July 2, 2022 July 3, 2021 July 2, 2022 July 3, 2021 Contract logistics $ 207,327 $ 154,770 $ 408,920 $ 309,664 Intermodal 156,865 106,601 314,478 210,318 Trucking 106,545 99,778 204,030 194,678 Company-managed brokerage 55,119 60,431 120,325 121,537 Other 1,326 1,203 3,290 1,818 Total operating revenues $ 527,182 $ 422,783 $ 1,051,043 $ 838,015 Eliminated Inter-segment Revenues Thirteen weeks ended Twenty-six weeks ended July 2, 2022 July 3, 2021 July 2, 2022 July 3, 2021 Contract logistics $ 1,500 $ 92 $ 3,219 $ 379 Intermodal 2,594 1,308 6,054 2,385 Trucking 51 7,095 116 12,551 Company-managed brokerage 956 443 1,834 980 Total eliminated inter-segment revenues $ 5,101 $ 8,938 $ 11,223 $ 16,295 Income from Operations Thirteen weeks ended Twenty-six weeks ended July 2, 2022 July 3, 2021 July 2, 2022 July 3, 2021 Contract logistics $ 29,425 $ 15,946 $ 52,900 $ 32,766 Intermodal 21,368 6,152 44,378 14,646 Trucking 9,611 6,482 17,030 11,672 Company-managed brokerage 4,155 2,445 8,018 2,886 Other 92 288 173 499 Total income from operations $ 64,651 $ 31,313 $ 122,499 $ 62,469

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021
Change In Accounting Estimate [Line Items]
Additional depreciation expense	$ 27,058	$ 16,339	$ 43,286	$ 35,424
Basic per share	$ 1.69	$ 0.95	$ 3.25	$ 1.76
Diluted per share	$ 1.69	$ 0.95	$ 3.25	$ 1.75
Useful Life And Salvage Values Of Certain Equipment [Member]
Change In Accounting Estimate [Line Items]
Additional depreciation expense	$ 9,700		$ 9,700
Depreciation expense,net of tax			$ 7,200
Basic per share			$ 0.27
Diluted per share			$ 0.27

Recent Accounting Pronounceme_3

Recent Accounting Pronouncements - Additional Information (Detail) - ASU 2020-04 [Member]	Jul. 02, 2022
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. 02, 2022
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. 02, 2022	Dec. 31, 2021
Other Current Assets [Member]
Disaggregation Of Revenue [Line Items]
Prepaid expenses and other - contract assets	$ 1,930	$ 2,023

Marketable Securities - Schedul

Marketable Securities - Schedule of Market Value, Cost and Unrealized Gains on Equity Securities (Detail) - USD ($) $ in Thousands	Jul. 02, 2022	Dec. 31, 2021
Investments Debt And Equity Securities [Abstract]
Fair value	$ 8,237	$ 8,031
Cost basis	6,540	6,426
Unrealized gain	$ 1,697	$ 1,605

Marketable Securities - Sched_2

Marketable Securities - Schedule of Gross Unrealized Gains and Losses on Marketable Securities (Detail) - USD ($) $ in Thousands	Jul. 02, 2022	Dec. 31, 2021
Investments Debt And Equity Securities [Abstract]
Gross unrealized gains	$ 2,624	$ 2,574
Gross unrealized losses	(927)	(969)
Net unrealized gains	$ 1,697	$ 1,605

Marketable Securities - Summary

Marketable Securities - Summary of Net Realized Gains (Losses) on Marketable Equity Securities (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021
Realized gain
Sale proceeds	$ 0	$ 0	$ 0	$ 117,000
Cost basis of securities sold				92,000
Realized gain				25,000
Realized gain, net of taxes				$ 19,000

Marketable Securities - Additio

Marketable Securities - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021
Schedule Of Available For Sale Securities [Line Items]
Sale of marketable equity securities	$ 0	$ 0	$ 0	$ 117,000
Other Nonoperating Income (Expense)
Schedule Of Available For Sale Securities [Line Items]
Net unrealized pre-tax gain (loss) in market value	$ (857,000)	$ 385,000	$ 92,000	$ 1,359,000

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. 02, 2022	Dec. 31, 2021
Payables And Accruals [Abstract]
Accrued payroll	$ 15,953	$ 13,645
Accrued payroll taxes	7,316	7,132
Driver escrow liabilities	3,776	3,754
Legal settlements and claims	9,350	9,350
Commissions, other taxes and other	7,558	9,746
Total	$ 43,953	$ 43,627

Debt - Details of Debt (Detail)

Debt - Details of Debt (Detail) - USD ($) $ in Thousands		Jul. 02, 2022	Dec. 31, 2021
Outstanding Debt:
Unamortized debt issuance costs		$ (2,026)	$ (1,094)
Outstanding Debt		415,316	427,348
Less current portion of long-term debt		52,448	61,160
Total long-term debt, net of current portion		362,868	366,188
Credit and Security Agreement [Member] | Term Loan [Member]
Outstanding Debt:
Outstanding Debt	[1],[2]		120,000
Credit and Security Agreement [Member] | Revolver Credit Facility [Member]
Outstanding Debt:
Outstanding Debt	[2]	$ 150,494	163,257
Credit facility, Interest Rates	[2]	3.29%
Real Estate Financing [Member]
Outstanding Debt:
Outstanding Debt	[1]	$ 162,594
Credit facility, Interest Rates	[1]	3.65%
Equipment Financing [Member]
Outstanding Debt:
Outstanding Debt	[3]	$ 104,254	103,298
Equipment Financing [Member] | Minimum [Member]
Outstanding Debt:
Credit facility, Interest Rates	[3]	2.25%
Equipment Financing [Member] | Maximum [Member]
Outstanding Debt:
Credit facility, Interest Rates	[3]	5.13%
Margin Facility [Member]
Outstanding Debt:
Credit facility, Interest Rates	[4]	2.89%
Real Estate Note [Member]
Outstanding Debt:
Outstanding Debt	[1]		$ 41,887
[1]Our Real Estate Facility provides for a $165.4 million term loan, the full amount of which was advanced on April 29, 2022. The Company used the facility’s proceeds to repay the outstanding balances under the term loan portion of the Revolving Credit Facility and certain other Real Estate Financing obligations. The facility matures on April 29, 2032. Obligations under the facility are secured by first-priority mortgages on specific parcels of real estate owned by the Company, including all land and real property improvements, and first-priority assignments of rents and related leases of the loan parties. The credit agreement includes customary affirmative and negative covenants, and principal and interest are payable on the facility on a monthly basis, based on an annual amortization of 10%. The facility bears interest at Term SOFR, plus an applicable margin equal to 2.12%. At July 2, 2022, we were in compliance with all covenants under the facility. bear interest at LIBOR or a base rate plus an applicable margin for each based the Company’s leverage ratio. The t The Revolving Credit Facility is secured by a first priority pledge of the capital stock of applicable subsidiaries, as well as first priority perfected security interests in cash, deposits, accounts receivable, and selected other assets of the applicable borrowers. The Revolving Credit Facility 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 2, 2022, we were in compliance with all covenants under the facility, and $49.5 million was available for borrowing on the revolver

Debt - Details of Debt (Parenth

Debt - Details of Debt (Parenthetical) (Detail)	6 Months Ended
	Jul. 02, 2022 USD ($) Installment
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	Apr. 29, 2022
Term loan, payment commencement date	Nov. 27, 2018
Credit and Security Agreement [Member] | Revolver Credit Facility [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
Description of variable rate basis	SOFR
Real Estate Financing [Member] | Secured Debt [Member] | SOFR [Member]
Debt Instrument [Line Items]
Interest rate above variable base rate	2.12%
Real Estate Financing [Member] | Term Loan [Member]
Debt Instrument [Line Items]
Credit facility, borrowing capacity	$ 165,400,000
Credit facility, expiration date	Apr. 29, 2032
Percentage of annual amortization	10%
Line of credit facility covenant terms	The credit agreement includes customary affirmative and negative covenants, and principal and interest are payable on the facility on a monthly basis, based on an annual amortization of 10%.
Margin Facility [Member]
Debt Instrument [Line Items]
Credit facility available for borrowings	$ 4,600,000
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, 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) - Interest Rate Swap	6 Months Ended
	Jul. 03, 2021 USD ($)
Line Of Credit Facility [Line Items]
Notional amount	$ 98,300,000
Derivative maturity date	Apr. 30, 2027
Fair value liability of swap agreement	$ 800,000
SOFR [Member]
Line Of Credit Facility [Line Items]
Fixed rate	2.88%

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. 02, 2022	Dec. 31, 2021
Assets
Marketable securities	$ 8,237	$ 8,031
Fair Value, Measurements, Recurring [Member]
Assets
Cash equivalents	14	10
Marketable securities	8,237	8,031
Total	8,251	8,041
Liabilities
Interest rate swaps	760	238
Total	760	238
Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Assets
Cash equivalents	14	10
Marketable securities	8,237	8,031
Total	8,251	8,041
Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Liabilities
Interest rate swaps	760	238
Total	$ 760	$ 238

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. 02, 2022 USD ($)
Carrying Value [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt instrument	$ 104,254
Estimated Fair Value [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt instrument	$ 102,330

Leases - Summary of Lease Costs

Leases - Summary of Lease Costs (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021
Lease cost
Operating lease cost	$ 8,585	$ 8,354	$ 17,215	$ 16,683
Short-term lease cost	2,825	2,866	7,712	4,023
Variable lease cost	1,005	1,009	2,106	1,808
Sublease income	(28)	(265)	(113)	(1,024)
Total lease cost	12,387	11,964	26,920	21,490
With Affiliates [Member]
Lease cost
Operating lease cost	2,371	2,514	4,723	5,041
Short-term lease cost	630	26	1,277	27
Variable lease cost	221	210	415	420
Total lease cost	3,222	2,750	6,415	5,488
With Third Parties [Member]
Lease cost
Operating lease cost	6,214	5,840	12,492	11,642
Short-term lease cost	2,195	2,840	6,435	3,996
Variable lease cost	784	799	1,691	1,388
Sublease income	(28)	(265)	(113)	(1,024)
Total lease cost	$ 9,165	$ 9,214	$ 20,505	$ 16,002

Leases - Summary of Other Lease

Leases - Summary of Other Lease Related Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021
Other information
Cash paid for amounts included in the measurement of operating leases	$ 15,824	$ 16,141
Right-of-use assets obtained in exchange for new operating lease liabilities	16,038	$ 16,406
Right-of-use assets change due to lease termination	$ (1,370)
Weighted-average remaining lease term (in years)	4 years 4 months 24 days	5 years 1 month 6 days
Weighted-average discount rate	5.40%	6.10%
With Affiliates [Member]
Other information
Cash paid for amounts included in the measurement of operating leases	$ 4,559	$ 4,831
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 545	$ 3,526
Weighted-average remaining lease term (in years)	5 years 3 months 18 days	5 years 9 months 18 days
Weighted-average discount rate	6.60%	7.10%
With Third Parties [Member]
Other information
Cash paid for amounts included in the measurement of operating leases	$ 11,265	$ 11,310
Right-of-use assets obtained in exchange for new operating lease liabilities	15,493	$ 12,880
Right-of-use assets change due to lease termination	$ (1,370)
Weighted-average remaining lease term (in years)	4 years	4 years 8 months 12 days
Weighted-average discount rate	4.70%	5.60%

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Lease Payments Under Operating Leases (Detail) $ in Thousands	Jul. 02, 2022 USD ($)
Lease Disclosure [Line Items]
2022 (remaining)	$ 17,059
2023	30,985
2024	26,688
2025	22,180
2026	17,347
Thereafter	13,326
Total required lease payments	127,585
Less amounts representing interest	(15,742)
Present value of lease liabilities	111,843
With Affiliates [Member]
Lease Disclosure [Line Items]
2022 (remaining)	4,533
2023	8,550
2024	8,413
2025	6,854
2026	4,387
Thereafter	9,116
Total required lease payments	41,853
With Third Parties [Member]
Lease Disclosure [Line Items]
2022 (remaining)	12,526
2023	22,435
2024	18,275
2025	15,326
2026	12,960
Thereafter	4,210
Total required lease payments	$ 85,732

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. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021
Related Party Transaction [Line Items]
Cost incurred for services provided by CenTra and affiliates	$ 23,806	$ 17,289	$ 46,973	$ 32,001
Insurance [Member]
Related Party Transaction [Line Items]
Cost incurred for services provided by CenTra and affiliates	17,334	11,807	34,831	23,303
Administrative support services [Member]
Related Party Transaction [Line Items]
Cost incurred for services provided by CenTra and affiliates	1,112	1,882	2,294	1,997
Real estate rent and related costs [Member]
Related Party Transaction [Line Items]
Cost incurred for services provided by CenTra and affiliates	2,981	3,357	6,079	6,271
Truck fuel, maintenance and other operating costs [Member]
Related Party Transaction [Line Items]
Cost incurred for services provided by CenTra and affiliates	2,010	233	3,080	411
Contracted transportation services [Member]
Related Party Transaction [Line Items]
Cost incurred for services provided by CenTra and affiliates	$ 369	$ 10	$ 689	$ 19

Transactions with Affiliates _2

Transactions with Affiliates - Additional Information (Detail)	1 Months Ended		6 Months Ended
	Jun. 30, 2022 USD ($)	May 31, 2022 USD ($) $ / shares shares	Jul. 02, 2022 USD ($) Facility	Dec. 31, 2021 USD ($)
Related Party Transaction [Line Items]
Number of facilities leased from related parties occupied on monthly or contractual basis | Facility			32
Insurance, claims and other receivables			$ 19,200,000	$ 20,400,000
Due to affiliates			14,232,000	17,839,000
Due from affiliates			$ 1,443,000	$ 807,000
Tender offer expire date		Jun. 15, 2022
Common stock [Member]
Related Party Transaction [Line Items]
Shares accepted by company under tender offer, shares | shares		164,189
Number of over subscribed shares tendered | shares		64,189
Tender offer final purchase price, per share | $ / shares		$ 28
Tender offer, total purchase price		$ 4,600,000
Common stock [Member] | Director, H. E. "Scott" Wolfe [Member]
Related Party Transaction [Line Items]
Shares accepted by company under tender offer, shares | shares		5,000
Common stock [Member] | Maximum [Member]
Related Party Transaction [Line Items]
Number of shares available for authorized to repurchase | shares		100,000
Shares outstanding price per share | $ / shares		$ 28
Common stock [Member] | Minimum [Member]
Related Party Transaction [Line Items]
Shares outstanding price per share | $ / shares		$ 25
With Affiliates [Member]
Related Party Transaction [Line Items]
Payment to acquire multi-building	$ 8,300,000
Initial deposit	$ 200,000
Proceeds from sale of business		$ 100,000
Gain (loss) on sale of business		$ 0

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. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021
Related Party Transaction [Line Items]
Services provided to affiliates	$ 507	$ 209	$ 722	$ 258
Contracted transportation services [Member]
Related Party Transaction [Line Items]
Services provided to affiliates	447	$ 209	602	$ 258
Facilities and Related Support [Member]
Related Party Transaction [Line Items]
Services provided to affiliates	$ 60		$ 120

Stock Based Compensation - Addi

Stock Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions					6 Months Ended
	Sep. 09, 2021	Feb. 05, 2020	Jan. 10, 2020	Feb. 20, 2019	Jul. 02, 2022	Jul. 03, 2021	May 31, 2022	Dec. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock, shares authorized					100,000,000		200,000	100,000,000
Total fair value of shares vested					$ 0.2	$ 0.2
Total unrecognized compensation cost					1.4
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					0.4
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	2,355			44,500
Restricted stock award grant date fair value per share	$ 20.46
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			6 Months Ended
	Sep. 09, 2021	Feb. 20, 2019	Jul. 02, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares Non-vested, Beginning Balance			81,105
Shares, Granted	2,355	44,500
Shares, Vested			(6,875)
Shares, Ending Balance			74,230
Weighted Average Grant Date Fair Value, Beginning Balance			$ 19.60
Weighted Average Grant Date Fair Value, Granted	$ 20.46
Weighted Average Grant Date Fair Value, Vested			23.56
Weighted Average Grant Date Fair Value, Ending Balance			$ 19.24

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares	3 Months Ended		6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021
Earnings Per Share [Abstract]
Weighted average non-vested shares of restricted shares	14,554	16,704	8,247	15,689
Antidilutive securities excluded from computation of earnings per share, amount	0	0	6,875	0

Dividends - Additional Informat

Dividends - Additional Information (Detail) - $ / shares		3 Months Ended		6 Months Ended
	May 05, 2022	Jul. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021
Earnings Per Share [Abstract]
Dividends payable, date declared	May 05, 2022
Quarterly cash dividend declared per common stock	$ 0.105	$ 0.105	$ 0.105	$ 0.210	$ 0.210
Dividends payable, recorded date	Jun. 06, 2022
Dividends payable, date to be paid	Jul. 05, 2022

Segment Reporting - Additional

Segment Reporting - Additional Information (Detail)	6 Months Ended
	Jul. 02, 2022 Segment
Segment Reporting [Abstract]
Number of reportable segments	4

Segment Reporting - Summary of

Segment Reporting - Summary of Company's Reportable Segment Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021
Segment Reporting Information [Line Items]
Revenues	$ 527,182	$ 422,783	$ 1,051,043	$ 838,015
Income from operations	64,651	31,313	122,499	62,469
Operating Segments [Member] | Contract Logistics [Member]
Segment Reporting Information [Line Items]
Revenues	207,327	154,770	408,920	309,664
Income from operations	29,425	15,946	52,900	32,766
Operating Segments [Member] | Intermodal [Member]
Segment Reporting Information [Line Items]
Revenues	156,865	106,601	314,478	210,318
Income from operations	21,368	6,152	44,378	14,646
Operating Segments [Member] | Trucking [Member]
Segment Reporting Information [Line Items]
Revenues	106,545	99,778	204,030	194,678
Income from operations	9,611	6,482	17,030	11,672
Operating Segments [Member] | Company-Managed Brokerage [Member]
Segment Reporting Information [Line Items]
Revenues	55,119	60,431	120,325	121,537
Income from operations	4,155	2,445	8,018	2,886
Other [Member]
Segment Reporting Information [Line Items]
Revenues	1,326	1,203	3,290	1,818
Income from operations	92	288	173	499
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenues	5,101	8,938	11,223	16,295
Intersegment Eliminations [Member] | Contract Logistics [Member]
Segment Reporting Information [Line Items]
Revenues	1,500	92	3,219	379
Intersegment Eliminations [Member] | Intermodal [Member]
Segment Reporting Information [Line Items]
Revenues	2,594	1,308	6,054	2,385
Intersegment Eliminations [Member] | Trucking [Member]
Segment Reporting Information [Line Items]
Revenues	51	7,095	116	12,551
Intersegment Eliminations [Member] | Company-Managed Brokerage [Member]
Segment Reporting Information [Line Items]
Revenues	$ 956	$ 443	$ 1,834	$ 980

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Millions	6 Months Ended
	Jul. 02, 2022 Employee	Aug. 04, 2022 USD ($)
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	38%
Mexico [Member] | Workforce Subject to Collective Bargaining Arrangements [Member] | Unionized Employees Concentration Risk [Member]
Concentration Risk [Line Items]
Percentage of employees concentration	78%
United States, Canada, Colombia and Mexico [Member] | Workforce Subject to Collective Bargaining Arrangements [Member] | Unionized Employees Concentration Risk [Member]
Concentration Risk [Line Items]
Number of employees subject to contracts that expire in 2022 | Employee	1
Subsequent Event [Member]
Concentration Risk [Line Items]
Loss contingency pay back amount owed | $		$ 2.8

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - $ / shares			3 Months Ended		6 Months Ended
	Jul. 28, 2022	May 05, 2022	Jul. 02, 2022	Jul. 03, 2021	Jul. 02, 2022	Jul. 03, 2021
Subsequent Event [Line Items]
Dividends payable, date declared		May 05, 2022
Dividends declared per common share		$ 0.105	$ 0.105	$ 0.105	$ 0.210	$ 0.210
Dividends payable, recorded date		Jun. 06, 2022
Dividends payable, date to be paid		Jul. 05, 2022
Subsequent Event [Member]
Subsequent Event [Line Items]
Dividends payable, date declared	Jul. 28, 2022
Dividends declared per common share	$ 0.105
Dividends payable, recorded date	Sep. 05, 2022
Dividends payable, date to be paid	Oct. 03, 2022