Echo Global Logistics 10-K 26 Feb 21 2020 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Feb. 25, 2021	Jun. 30, 2020
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Document Transition Report	false
Entity File Number	001-34470
Entity Registrant Name	ECHO GLOBAL LOGISTICS, INC.
Entity Central Index Key	0001426945
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-5001120
Entity Address, Address Line One	600 West Chicago Avenue
Entity Address, Address Line Two	Suite 725
Entity Address, City or Town	Chicago
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60654
City Area Code	800
Local Phone Number	354-7993
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	ECHO
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 560.6
Entity Common Stock, Shares Outstanding		26,608,121
Documents Incorporated by Reference	Portions of the Registrant's Proxy Statement for its 2021 Annual Meeting of Stockholders are incorporated by reference into Part III of this Annual Report on Form 10-K, provided that if such Proxy Statement is not filed with the Securities and Exchange Commission (the "SEC") within 120 days after the end of the fiscal year covered by this Form 10-K, an amendment to this Form 10-K shall be filed no later than the end of such 120-day period.
ICFR Auditor Attestation Flag	true

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 41,297	$ 34,626
Accounts receivable, net of allowance for doubtful accounts	439,391	286,989
Income taxes receivable	0	2,473
Prepaid expenses	9,322	8,999
Other current assets	3,465	3,106
Total current assets	493,475	336,193
Noncurrent assets:
Property and equipment, net of accumulated depreciation of $156,309 and $130,320 at December 31, 2020 and 2019, respectively	53,599	58,620
Goodwill	309,589	309,589
Intangible assets, net of accumulated amortization of $92,630 and $81,656 at December 31, 2020 and 2019, respectively	86,788	97,762
Operating lease assets	16,724	19,638
Other assets	3,768	4,863
Total noncurrent assets	470,469	490,473
Total assets	963,944	826,666
Current liabilities:
Accounts payable	317,692	187,524
Due to seller, current	307	937
Accrued expenses	53,458	35,229
Income tax payable	1,675	0
Other current liabilities	4,004	6,719
Total current liabilities	377,135	230,409
Noncurrent liabilities:
Long-term debt, net	133,945	0
Convertible notes, net	0	156,298
Due to seller, noncurrent	0	770
Other noncurrent liabilities	511	641
Deferred income taxes	25,333	23,761
Noncurrent operating lease liabilities	27,651	31,475
Total noncurrent liabilities	187,440	212,945
Total liabilities	564,575	443,353
Stockholders' equity:
Common stock, par value $0.0001 per share,100,000,000 shares authorized; 31,731,798 shares issued and 26,229,809 shares outstanding at December 31, 2020; 31,507,247 shares issued and 26229,809 shares outstanding at December 31, 2019	3	3
Treasury stock, 5,767,100 and 5,277,438 shares at December 31, 2020 and 2019, respectively	(118,679)	(109,239)
Additional paid-in capital	366,265	356,600
Retained earnings	151,780	135,948
Total stockholders' equity	399,369	383,312
Total liabilities and stockholders' equity	$ 963,944	$ 826,666

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Allowance for doubtful accounts	$ 6,287	$ 4,255
Noncurrent assets:
Property and equipment, accumulated depreciation	156,309	130,320
Customer relationships and other intangible assets, accumulated amortization	$ 92,630	$ 81,656
Stockholders' equity:
Common stock, par value (USD per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	31,731,798	31,507,247
Common stock, shares outstanding	25,964,698	26,229,809
Treasury stock, shares	5,767,100	5,277,438

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement [Abstract]
Revenue	$ 2,511,515	$ 2,184,977	$ 2,439,701
Costs and expenses:
Transportation costs (excludes internal use software depreciation of $19,083, $17,886, and $14,973 for years ended December 31, 2020, 2019, and 2018, respectively.)	2,118,316	1,798,944	2,019,337
Selling, general and administrative expenses	325,209	313,129	330,160
Depreciation and amortization	38,492	38,387	36,638
Income from operations	29,497	34,517	53,566
Interest expense	(5,990)	(12,639)	(15,546)
Income before provision for income taxes	23,508	21,878	38,020
Income tax expense	(7,675)	(7,032)	(9,296)
Net income	$ 15,832	$ 14,846	$ 28,723
Earnings per common share:
Basic (USD per share)	$ 0.61	$ 0.56	$ 1.04
Diluted (USD per share)	$ 0.60	$ 0.55	$ 1.03

Consolidated Statements of Op_2

Consolidated Statements of Operations (Parentheticals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Depreciation	$ 27,500	$ 26,600	$ 23,600
Software development
Depreciation	$ 19,083	$ 17,886	$ 14,973

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Equity - USD ($) $ in Thousands	Total	Cumulative effect of accounting change	Common Stock	Treasury Stock	Additional Paid-In Capital	Retained Earnings	Retained EarningsCumulative effect of accounting change
Common stock, shares at beginning of period at Dec. 31, 2017			30,768,050
Treasury stock, shares at Dec. 31, 2017				(3,526,870)
Stockholders' equity at beginning of period at Dec. 31, 2017	$ 358,872	$ 1,136	$ 3	$ (69,818)	$ 337,445	$ 91,242	$ 1,136
Increase (Decrease) in Stockholders' Equity
Share compensation expense	$ 9,289				9,289
Exercise of stock options (in shares)	384,092		384,092
Exercise of stock options	$ 4,230		$ 0		4,230
Common stock issued for vesting of restricted stock (in shares)			221,291
Common stock issued for vesting of restricted stock	0		$ 0		0
Common stock issued for vesting of performance shares (in shares)			40,868
Common stock issued for vesting of performance shares	0		$ 0		0
Common shares withheld and retired to satisfy employee tax witholding obligations upon vesting of restricted stock (in shares)			(94,304)
Common shares withheld and retired to satisfy employee tax withholding obligations upon vesting of restricted stock	$ (2,623)		$ 0		(2,623)
Common shares issued for acquisition (in shares)	25,223
Common shares issued for acquisition	$ 693
Repurchase of convertible notes, net of deferred taxes					(637)
Purchases of treasury stock (in shares)				(420,590)
Purchases of treasury stock	(9,752)			$ (9,752)
Net income	28,723					28,723
Common stock, shares at end of period at Dec. 31, 2018			31,345,220
Treasury stock, shares at Dec. 31, 2018				(3,947,460)
Stockholders' equity at end of period at Dec. 31, 2018	389,932		$ 3	$ (79,571)	348,397	121,102
Increase (Decrease) in Stockholders' Equity
Share compensation expense	$ 10,194				10,194
Exercise of stock options (in shares)	3,000		3,000
Exercise of stock options	$ 37		$ 0		37
Common stock issued for vesting of restricted stock (in shares)			234,706
Common stock issued for vesting of restricted stock	0		$ 0		0
Common stock issued for vesting of performance shares (in shares)			13,267
Common stock issued for vesting of performance shares	0		$ 0		0
Common shares withheld and retired to satisfy employee tax witholding obligations upon vesting of restricted stock (in shares)			(88,946)
Common shares withheld and retired to satisfy employee tax withholding obligations upon vesting of restricted stock	(2,131)		$ 0		(2,131)
Repurchase of convertible notes, net of deferred taxes	103				103
Purchases of treasury stock (in shares)				(1,329,978)
Purchases of treasury stock	(29,668)			$ (29,668)
Net income	$ 14,846					14,846
Common stock, shares at end of period at Dec. 31, 2019	26,229,809		31,507,247
Treasury stock, shares at Dec. 31, 2019	(5,277,438)			(5,277,438)
Stockholders' equity at end of period at Dec. 31, 2019	$ 383,312		$ 3	$ (109,239)	356,600	135,948
Increase (Decrease) in Stockholders' Equity
Common stock, shares issued	31,507,247
Share compensation expense	$ 11,367				11,367
Exercise of stock options (in shares)	35,200		35,200
Exercise of stock options	$ 421		$ 0		421
Common stock issued for vesting of restricted stock (in shares)			287,379
Common stock issued for vesting of restricted stock	0		$ 0		0
Common shares withheld and retired to satisfy employee tax witholding obligations upon vesting of restricted stock (in shares)			(98,028)
Common shares withheld and retired to satisfy employee tax withholding obligations upon vesting of restricted stock	(1,933)		$ 0		(1,933)
Repurchase of convertible notes, net of deferred taxes	(190)				(190)
Purchases of treasury stock (in shares)				(489,662)
Purchases of treasury stock	(9,440)			$ (9,440)
Net income	$ 15,832					15,832
Common stock, shares at end of period at Dec. 31, 2020	25,964,698		31,731,798
Treasury stock, shares at Dec. 31, 2020	(5,767,100)			(5,767,100)
Stockholders' equity at end of period at Dec. 31, 2020	$ 399,369		$ 3	$ (118,679)	$ 366,265	$ 151,780
Increase (Decrease) in Stockholders' Equity
Common stock, shares issued	31,731,798

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Operating activities
Net income	$ 15,832	$ 14,846	$ 28,723
Adjustments to reconcile net income to net cash provided by operating activities:
Deferred income taxes	1,560	4,783	7,124
Noncash stock compensation expense	11,367	10,194	9,289
Noncash interest expense	1,711	7,345	9,077
Change in contingent consideration due to seller	(447)	1,050	410
Depreciation and amortization	38,492	38,387	36,638
Change in assets, net of acquisitions:
Accounts receivable	(152,402)	50,469	(12,700)
Income taxes receivable	4,036	469	2,542
Prepaid expenses and other assets	(754)	(700)	(4,492)
Change in liabilities, net of acquisitions:
Accounts payable	129,910	(28,586)	11,225
Accrued expenses and other liabilities	14,972	(12,628)	6,783
Payment of contingent consideration in excess of amounts established in purchase accounting	(507)	(1,097)	(375)
Net cash provided by operating activities	63,770	84,532	94,245
Investing activities
Purchases of property and equipment	(21,588)	(23,926)	(24,101)
Investments in business entities	0	0	(1,000)
Payments for acquisitions, net of cash acquired	0	(33)	(6,720)
Net cash used in investing activities	(21,588)	(23,959)	(31,821)
Financing activities
Payments of contingent consideration due to seller	(447)	(1,206)	(550)
Proceeds from exercise of stock options	421	37	4,230
Employee tax withholdings related to net share settlements of equity-based awards	(1,933)	(2,131)	(2,623)
Purchases of treasury stock	(10,349)	(29,014)	(9,497)
Purchases of Convertible Notes	(88,961)	(33,915)	(37,217)
Settlement of Convertible Notes	(69,242)	0	0
Proceeds from borrowing on ABL facility	180,000	35,000	12,000
Repayments of amounts borrowed on ABL facility	(45,000)	(35,000)	(12,000)
Net cash used in financing activities	(35,510)	(66,229)	(45,657)
Increase (decrease) in cash and cash equivalents	6,672	(5,656)	16,766
Cash and cash equivalents, beginning of period	34,626	40,281	23,515
Cash and cash equivalents, end of period	41,297	34,626	40,281
Supplemental disclosure of cash flow information
Cash paid during the year for interest	4,631	5,430	6,594
Cash paid during the year for income taxes	1,976	5,173	174
Cash received during the year for income taxes refunded	0	3,363	189
Non Cash Financing Activity
Liability for purchases of treasury stock not yet settled	$ 0	$ 909	$ 255

Description of Business

Description of Business	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Description of BusinessEcho Global Logistics, Inc. (the "Company") is a leading provider of technology-enabled transportation and supply chain management services. These services are delivered on a proprietary technology platform that serves the transportation and logistics needs of the Company's clients. The Company provides services across all major transportation modes, including truckload ("TL"), less than truckload ("LTL"), small parcel, intermodal, domestic air, expedited and international. The Company's core logistics services, primarily brokerage and transportation management services, include carrier selection, dispatch, load management and tracking.The Company's common stock is listed on the Nasdaq Global Select Market under the symbol ECHO.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The consolidated financial statements include the accounts of Echo Global Logistics, Inc. and its subsidiaries (the Company). All significant intercompany accounts and transactions have been eliminated in the consolidation. The consolidated statements of operations include the results of entities or assets acquired from the effective date of the acquisition for accounting purposes. Preparation of Financial Statements and Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States (U.S. GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenue and expenses during the reporting periods. Actual results can differ from those estimates. Fair Value of Financial Instruments The carrying value of the Company's financial instruments, which consist of cash and cash equivalents, accounts receivable and accounts payable, approximate their fair values due to their short-term nature. The fair value of the due to seller liabilities are determined based on the likelihood of the Company making contingent earn-out payments. See Note 6 "Fair value Measurement" for additional information. Leases The Company adopted Accounting Standards Codification ("ASC") Topic 842 Leases ("ASC Topic 842") on January 1, 2019, of which prior amounts are not adjusted and continue to be in accordance with the accounting standards in effect for those periods. The Company determines if an arrangement contains a lease at inception. Operating leases are recorded as right-of-use assets ("ROU assets"), which are included in operating lease assets, and lease liabilities, which are included in other current liabilities and noncurrent operating lease liabilities on the consolidated balance sheets. As of December 31, 2020, all Company leases were operating leases. ROU assets represent the right to use an underlying asset for the lease term and lease liabilities represent an obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. Most leases include one or more options to renew, with renewal terms that can extend the lease term. The Company also has some leases that include termination options. The exercise of lease renewal or termination options is at the Company's sole discretion, and it does not recognize these options as part of its ROU assets or lease liabilities. The Company's lease agreements do not contain any material residual value guarantees or material restrictive covenants. The Company's leases generally do not provide an implicit rate, and therefore, the Company uses its incremental borrowing rate as the discount rate when measuring operating lease liabilities. The incremental borrowing rate represents an estimate of the interest rate the Company would incur at lease commencement to borrow an amount equal to the lease payments on a collateralized basis over the term of a lease within a particular currency environment. The incremental borrowing rate is influenced by the Company's credit rating and lease term and may differ for individual leases. The Company adopted the package of practical expedients that allows it to (i) not reassess whether an arrangement contains a lease, (ii) carry forward its lease classification as operating or capital leases and (iii) not reassess its previously recorded initial direct costs. In addition, the Company elected the practical expedient to not separate lease and non-lease components, and therefore both components are accounted for and recognized as lease components. The Company's 2018 leases were recognized in accordance with ASC Topic 840 Leases . Revenue Recognition The Company adopted ASC Topic 606 Revenue from Contracts with Customers ("ASC Topic 606") on January 1, 2018. Results for reporting periods beginning on or after January 1, 2018 are presented under ASC Topic 606, of which prior amounts are not adjusted and continue to be in accordance with the accounting standards in effect for those periods. Under ASC Topic 606, revenue is recognized when control of the promised goods or services is transferred to the Company's customers, in an amount that reflects the consideration the Company expects to receive in exchange for services. The Company generates revenue from two different client types: Transactional and Managed Transportation. Most clients are categorized as Transactional clients. For its Transactional business, the Company provides brokerage and transportation management services on a shipment-by-shipment basis. Carrier selection, dispatch, load management and tracking are integrated services that occur within the brokerage and transportation management performance obligation. The Company categorizes a client as a Managed Transportation client if there is an agreement with the client for the provision of services, typically for a multi-year term. Brokerage and transportation management services is typically the performance obligation for the Company's Managed Transportation clients. For the brokerage and transportation management services performance obligation, revenue is recognized as the client's shipment travels from origin to destination by a third-party carrier. The Company is the principal in these transactions and recognizes revenue on a gross and relative transit time basis. Other performance obligations for Managed Transportation clients may include transportation management services, which includes the integrated services of dispatch, tracking and carrier payment. For these types of transactions, revenue is recorded on a net basis as the Company does not have latitude in carrier selection or establish rates with the carrier. The Company also performs project-based services, such as compliance management, customized re-billing services and freight studies for certain Managed Transportation clients. Further discussion of the changes to the revenue recognition policy under the new standard is discussed in Note 5 "Revenue". Rebates The Company has entered into agreements with certain clients to rebate to them a portion of the costs that they pay to the Company for transportation services, based on certain conditions and/or pricing schedules that are specific to each individual agreement, but that are typically constructed as a percentage of the costs that the client incurs. Refer to Note 5 "Revenue" for further discussion. Rebates are recognized at the same time that the related transportation revenue is recognized and are recorded as a reduction of transportation revenue. Segment Reporting For operating purposes, the Company is organized as one operating segment pursuant to the provisions of ASC Topic 280 Segment Reporting , which establishes accounting standards for segment reporting. The Company's chief operating decision-maker assesses performance and makes resource allocation decisions for the business as a single operating segment. There has been no change from prior periods in the Company's determination that it has one reportable segment for reporting purposes. Cash and Cash Equivalents The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. Accounts Receivable and Allowance for Doubtful Accounts Accounts receivable are uncollateralized customer obligations due under normal trade terms. Invoices require payment within 30 to 90 days from the invoice date. Accounts receivable are stated at the amount billed to the customer. Customer account balances with invoices 90 days past due are considered delinquent. The Company generally does not charge interest on past due amounts. Additionally, the Company maintains a credit insurance policy for certain accounts. The carrying amount of accounts receivable is reduced by an allowance for doubtful accounts that reflects management's best estimate of amounts that will not be collected. The allowance is based on historical loss experience and any specific risks identified in client collection matters. Accounts receivable are charged off against the allowance for doubtful accounts when it is determined that the receivable is uncollectible. The Company recorded $2.9 million, $2.3 million and $2.7 million of bad debt expense for the years ended December 31, 2020, 2019 and 2018, respectively. On January 1, 2020, the Company adopted Accounting Standards Update ("ASU") 2016-13, Financial Instruments - Credit Losses Topic 326 , using the prospective approach. Results for reporting periods beginning on or after January 1, 2020 are presented under ("Topic 326"). Prior period amounts are not adjusted and continue to be reported in accordance with the accounting standards in effect for those periods. The Company is exposed to potential credit losses related to its trade receivables, which the Company categorizes as either Transactional or Managed Transportation. For its Transactional trade receivables, the Company utilizes historical loss information to develop an estimate for future expected credit losses. For its Managed Transportation trade receivables, the Company estimates its potential future expected credit losses on a customer specific basis. The Company considers current economic conditions and forecasts when determining its credit loss estimate based on the aging schedule. The Company transacts with customers in a variety of industries and adjusts its estimate accordingly if it becomes aware of financial difficulties for a specific customer. The Company extends credit to certain clients as part of its business model. These clients are subject to an approval process prior to any extension of credit or increase in their current credit limit. The Company reviews each credit request and considers, among other factors, payment history, current billing status, recommendations by various rating agencies and capitalization. Clients that satisfy the credit review may receive a line of credit or an increase in their existing credit amount. The Company believes this review and approval process helps mitigate the risk of client defaults on extensions of credit and any potential credit losses. Additionally, the Company maintains a credit insurance policy for certain accounts. The following table summarizes the components of the allowance as of December 31, 2020 (in thousands): Allowance for Doubtful Accounts Balance at December 31, 2019 $ 4,255 Provision, charged to expense 2,881 Write-offs (3,357) Recoveries 2,507 Balance at December 31, 2020 $ 6,287 Note: Amounts may not foot due to rounding. Property and Equipment Property and equipment are stated at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the respective assets. Leasehold improvements under operating leases are depreciated over the estimated useful life of the improvement or the remaining term of the lease, whichever is shorter. The estimated useful lives, by asset class, are as follows: Computer equipment and software 3 years Office equipment 5 years Furniture and fixtures 5 - 7 years Internal Use Software Certain costs incurred in the planning and evaluation stage of internal use computer software projects are expensed as incurred. Costs incurred during the application development stage for the development of internal use software, including upgrades and enhancements that provide additional functionality to existing software, are capitalized and included in property and equipment. The Company capitalized $17.9 million and $16.9 million of internal use software costs during the years ended December 31, 2020 and 2019, respectively. Capitalized internal use software costs are amortized over the expected economic life of three years using the straight-line method. The total expense, included in depreciation expense, for the years ended December 31, 2020, 2019 and 2018 was $19.1 million, $17.9 million and $15.0 million, respectively. At December 31, 2020 and 2019, the net book value of internal use software costs was $30.2 million and $31.5 million, respectively. Goodwill and Other Intangibles Goodwill represents the excess of consideration transferred over the value assigned to the net tangible and identifiable intangible assets of businesses acquired. In accordance with ASC Topic 350 Intangibles - Goodwill and Other : Testing Goodwill for Impairment ("ASC 350") , goodwill is not amortized, but instead is tested for impairment annually, or more frequently if circumstances indicate a possible impairment may exist. Absent any special circumstances that could require an interim test, the Company has elected to test for goodwill impairment during the fourth quarter of each year. The Company manages the business as one operating segment and one reporting unit pursuant to the provisions of ASC Topic 280 Segment Reporting , which established accounting standards for segment reporting. Accounting Standards Update No. 2011-08, “ Intangibles - Goodwill and Other: Testing Goodwill for Impairment " permits an entity to first assess qualitative factors to determine whether it is more likely than not (a likelihood of more than 50 percent) that the fair value of a reporting unit is less than its carrying amount. After assessing qualitative factors, if an entity determines that it is more likely than not that the fair value of the reporting unit is greater than its carrying amount, no further testing is necessary. In October 2020, the Company performed a quantitative goodwill impairment assessment of the reporting unit in accordance with ASC 350 due to the uncertain economic environment created by the COVID-19 pandemic. We utilized a combination of two valuation methodologies commonly referred to as the income approach and the market approach. For the income approach, we used the discounted cash flow model and for the market approach, we used the guideline public company method. The discounted cash flow method under the income approach uses the reporting unit's projection of estimated operating results and cash flows that is discounted using a weighted-average cost of capital that reflects current market conditions appropriate to the reporting unit. The guideline public company method under the market approach uses pricing multiples of a peer group of publicly traded companies and applies these multiples to the operating results of each reporting unit to provide indications of value. A concluded enterprise value based on equal weighting of the two methods was reconciled to current market capitalization. Both methods use management's best estimates of economic and market conditions over the projected period, including growth rates in sales, costs, estimates of future expected changes in operating margins and cash expenditures. As a result of our quantitative assessment of the reporting unit, we concluded that the fair value of the reporting unit exceeded its carrying amount. ASC Topic 350 also requires that intangible assets with finite lives be amortized over their respective estimated useful lives and reviewed for impairment whenever impairment indicators exist in accordance with ASC Topic 360 Property, Plant and Equipment . The Company's intangible assets consist of customer relationships, carrier relationships, non-compete agreements and trade names, which are being amortized over their estimated weighted-average useful lives of 14.8 years,17.0 years, 6.7 years and 4.0 years, respectively. The weighted-average useful life of total intangible assets is 14.4 years. The customer relationships are being amortized using an accelerated method, while carrier relationships, non-compete agreements and trade names are being amortized using the straight-line method. Self-Insurance Liability The Company is self-insured for its employee health plans and records a liability that represents its estimated cost of claims incurred and unpaid as of the balance sheet date. The Company's estimated liability is not discounted and is based on a number of assumptions and factors, including historical trends, actuarial assumptions and economic conditions. The total estimated self-insurance liabilities as of December 31, 2020 and 2019 were $1.0 million and $0.8 million, respectively. Stock-Based Compensation The Company accounts for stock-based compensation in accordance with ASC Topic 718 Compensation - Stock Compensation which requires all share-based payments to employees, including grants of stock options, to be recognized in the income statement based upon their fair values. Share-based compensation for restricted stock and restricted stock unit is reduced by estimated forfeitures for each period and adjusted accordingly upon vesting or actual forfeiture. Share-based employee compensation costs are recognized as a component of selling, general and administrative expense in the consolidated statements of operations. See Note 15 "Stock-based Compensation Plans" for a description of the Company's accounting for stock-based compensation plans. Income Taxes Under ASC Topic 740 Income Taxes , deferred assets and liabilities are recognized based upon anticipated future tax consequences attributable to differences between financial statement carrying values of assets and liabilities and their respective tax bases. A valuation allowance is established to reduce the carrying value of deferred tax assets if it is considered more likely than not that such assets will not be realized. Any change in the valuation allowance would be charged to income in the period such determination was made.

New Accounting Pronouncements

New Accounting Pronouncements	12 Months Ended
	Dec. 31, 2020
Accounting Standards Update and Change in Accounting Principle [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements Recently adopted accounting pronouncements In June 2016, the Financial Accounting Standards Board ("FASB") issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326), which replaces the incurred loss methodology previously employed to measure credit losses for most financial assets and requires the use of a forward-looking expected loss model. This update requires financial assets to be measured at amortized costs less a reserve and equal to the net amount expected to be collected. The Company adopted this standard on January 1, 2020 using the prospective approach. The comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods. At December 31, 2020, the Company reported $439.4 million of accounts receivable, net of allowance of $6.3 million. The Company fully describes the adoption and impact of this standard in Note 2 "Summary of Significant of Accounting Policies". As part of the adoption of this standard, the Company implemented changes to its accounting policies, practices and internal controls over financial reporting. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement, which modifies the disclosure requirements on fair value measurements in Topic 820, Fair Value Measurement. This new accounting standard was effective for annual periods beginning after December 15, 2019. The Company adopted the standard on January 1, 2020. The adoption of this new standard did not have a material impact on the Company's consolidated financial statements. Recently issued accounting pronouncements not yet adopted In October 2020, the FASB issued ASU 2020-10, Codification Improvements – Disclosures, which provides consistency by amending the codification to include all disclosure sections and clarifies application of various provisions in the Codification by amending and adding new headings, cross referencing to other guidance, and refining or correcting terminology. The guidance is effective for interim and annual periods beginning after December 15, 2020. Early adoption is permitted. The guidance is to be applied using retrospective method. The Company anticipates that the adoption of this guidance will not have a material impact on its consolidated financial statements. In August 2020, the FASB issued ASU 2020-06, Debt with Conversion and Other Options, which is intended to simplify the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts on an entity’s own equity. The guidance is effective for interim and annual periods beginning after December 15, 2021. Early adoption is permitted. The guidance is to be applied using either a full retrospective or modified retrospective method. The Company anticipates that the adoption of this guidance will not have a material impact on its consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform, which provides companies with optional guidance, including expedients and exceptions for applying U.S. GAAP to contracts and other transactions affected by reference rate reform, such as the London Interbank Offered Rate (LIBOR). This new standard was effective upon issuance and generally can be applied to applicable contract modifications through December 31, 2022. The Company is evaluating the effects that the adoption of this guidance will have on its disclosures.

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2020
Business Combinations [Abstract]
Acquisitions	Acquisitions On July 6, 2018, the Company acquired Freight Management Plus, Inc. ("Freight Management", or "FMP"), a non-asset based truckload and less than truckload transportation brokerage based in Allison Park, Pennsylvania, and the results of FMP have been included in the Company's consolidated financial statements since the acquisition date. The Company purchased the assets and assumed certain liabilities of FMP for $6.7 million in cash payable at closing, $0.7 million of common stock, par value $0.0001 per share, and an additional $2.9 million in contingent consideration that may become payable upon the achievement of certain performance measures on or prior to June 30, 2021. The acquisition date fair value of the total consideration transferred was $10.5 million. The Company recorded $2.3 million of goodwill, $1.4 million as the estimated opening balance sheet fair value of the contingent consideration obligation and $5.1 million of customer relationship intangible assets. The fair values of the contingent consideration obligation and the customer relationship intangible assets are considered Level 3 fair value estimates. The fair value of the contingent consideration obligation was based on the probability of reaching the financial forecasts of future operating results, an appropriate discount rate and the Company's historical experience with similar arrangements as further described in Note 6 to the consolidated financial statements. The fair value of the customer relationship intangible assets was determined using a discounted cash flow analysis based on the current customers of FMP at the time of the acquisition. The amount of goodwill deductible for U.S. income tax purposes is $0.9 million, which excludes the opening balance sheet fair value of the contingent consideration obligation.The opening balance sheet fair value of the contingent consideration was $1.4 million. The Company made a payment of $1.0 million in 2020 and 2019 to the seller of FMP based on the achievement of certain financial measures as defined within the acquisition purchase agreement. As of December, 31, 2020 the fair value of the remaining contingent consideration was $0.3 million. The Company will continue to reassess the fair value of the contingent consideration obligation each quarter.

Revenue

Revenue	12 Months Ended
	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Adoption of ASC Topic 606, "Revenue from Contracts with Customers" On January 1, 2018, the Company adopted ASU 2014-09, Revenue from Contracts with Customers ("ASC Topic 606"), using the modified retrospective method. The Company recorded an increase to the opening balance of retained earnings of $1.1 million , net of tax, as of January 1, 2018 due to the cumulative impact of adoption of ASC Topic 606. Revenue Recognition Revenue is recognized when 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. The Company generates revenue from two different client types: Transactional and Managed Transportation. Most clients are categorized as Transactional clients. For its Transactional business, the Company provides brokerage and transportation management services on a shipment-by-shipment basis. Carrier selection, dispatch, load management and tracking are integrated services that occur within the brokerage and transportation management performance obligation. For the brokerage and transportation management services performance obligation, revenue is recognized as the client's shipment travels from origin to destination by a third-party carrier. The Company is the principal in these transactions and recognizes revenue on a gross and relative transit time basis. The Company categorizes a client as a Managed Transportation client if there is an agreement with the client for the provision of services, typically for a multi-year term. Brokerage and transportation management services is typically the performance obligation for the Company's Managed Transportation clients. For this performance obligation, revenue is recognized gross as the Company is the principal in these transactions and is recognized as the Managed Transportation client's shipment travels from origin to destination on a relative transit time basis. Other performance obligations for Managed Transportation clients may include transportation management services, which includes the integrated services of dispatch, tracking and carrier payment. For these types of transactions, revenue is recorded on a net basis as the Company does not have latitude in carrier selection or establish rates with the carrier. The Company also performs project-based services, such as compliance management, customized re-billing services and freight studies for certain Managed Transportation clients. The following table presents the Company's revenue disaggregated by client type (in thousands): Year Ended December 31, Client Type 2020 2019 2018 Transactional $ 1,936,688 $ 1,684,872 $ 1,915,589 Managed Transportation 574,827 500,105 524,112 Revenue $ 2,511,515 $ 2,184,977 $ 2,439,701 Note: Amounts may not foot due to rounding. Revenue recognized per shipment varies depending on the transportation mode. The primary modes of shipment in which the Company transacts are truckload and less than truckload. Other transportation modes include intermodal, small parcel, domestic air, expedited and international. The following table presents the Company's revenue disaggregated by mode (in thousands): Year Ended December 31, Mode 2020 2019 2018 Truckload $ 1,757,494 $ 1,437,566 $ 1,686,358 Less than truckload 659,358 646,594 638,404 Other revenue 94,663 100,817 114,939 Revenue $ 2,511,515 $ 2,184,977 $ 2,439,701 Note: Amounts may not foot due to rounding. Variable Consideration Certain customers may receive rebates based on the terms of their agreement with the Company, which are accounted for as variable consideration. Rebates are estimated based on the expected amount to be provided to customers and reduce revenue recognized. The Company also estimates for possible additional fees based on a portfolio approach. Practical Expedients The Company adopted the practical expedient to recognize commission expense when incurred because the amortization period is less than one year. Commission expense recognition aligns with the Company's revenue recognition policy under ASC Topic 606, as commission expense is recognized on a relative transit time basis. The Company applied the disclosure exemption in ASC Topic 606 that permits the omission of remaining performance obligations that have an original expected duration of one year or less.

Fair Value Measurement

Fair Value Measurement	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurement	Fair Value Measurement The Company applies ASC Topic 820, Fair Value Measurements and Disclosures, for its financial assets and financial liabilities. The guidance requires disclosures about assets and liabilities measured at fair value. The Company's financial liabilities primarily relate to contingent earn-out payments due to sellers in connection with various acquisitions. The fair value of the due to seller liabilities at December 31, 2020 and 2019 was $0.3 million and $1.7 million, respectively. The potential contingent earn-out payments and performance are defined in the individual purchase agreement for each acquisition. Earnings before interest, taxes, depreciation and amortization ("EBITDA") is the performance target defined and measured to determine the contingent earn-out payment due, if any, after each defined measurement period. ASC Topic 820 includes a fair value hierarchy that is intended to increase consistency and comparability in fair value measurements and related disclosures. The fair value hierarchy is based on observable or unobservable inputs to valuation techniques that are used to measure fair value. Observable inputs reflect assumptions market participants would use in pricing an asset or liability based on market data obtained from independent sources while unobservable inputs reflect a reporting entity's pricing based upon its own market assumptions. The fair value hierarchy consists of the following three levels: • Level 1: Inputs are quoted prices in active markets for identical assets or liabilities. • Level 2: Inputs are quoted prices for similar assets or liabilities in an active market, quoted prices for identical or similar assets or liabilities in markets that are not active, and inputs other than quoted prices that are observable and market-corroborated inputs, which are derived principally from or corroborated by observable market data. • Level 3: Inputs that are derived from valuation techniques in which one or more significant inputs or value drivers are unobservable. The significant inputs used to derive the fair value of the amounts due to seller include financial forecasts of future operating results, the probability of reaching the forecast and an appropriate discount rate for each contingent liability. Probabilities are estimated by reviewing financial forecasts and assessing the likelihood of reaching the required performance measures based on factors specific to each acquisition as well as the Company’s historical experience with similar arrangements. If an acquisition reaches the required performance measure, the estimated probability would be increased to 100% and would still be classified as a contingent liability on the balance sheet. If the measure is not reached, the probability would be reduced to reflect the amount earned, if any, depending on the terms of the agreement. Discount rates used in determining the fair value of the contingent consideration due to seller ranged between 2% and 3%. Historical results of the respective acquisitions serve as the basis for preparing the financial forecasts used in the valuation. Quantitative factors are also considered in these forecasts, including acquisition synergies, growth and sales potential and potential operational efficiencies gained. Changes to the significant inputs used in determining the fair value of the contingent consideration due to seller could result in a change in the fair value of the contingent consideration. However, the correlation and inverse relationship between higher projected financial results to the discount rate applied and probability of meeting the financial targets mitigates the effect of any changes to the unobservable inputs. The following tables set forth the Company's financial liabilities measured at fair value on a recurring basis and the basis of measurement at December 31, 2020 and 2019 (in thousands): Fair Value Measurements as of December 31, 2020 Total Level 1 Level 2 Level 3 Liabilities: Contingent consideration due to seller $ (307) — — $ (307) Fair Value Measurements as of December 31, 2019 Total Level 1 Level 2 Level 3 Liabilities: Contingent consideration due to seller $ (1,707) — — $ (1,707) The following table provides a reconciliation of the beginning and ending balances for the liabilities measured at fair value using significant unobservable inputs (Level 3) (in thousands): Due to Seller Liability Balance at January 1, 2019 $ (2,960) Change in contingent consideration due to seller (1,050) Payments of contingent consideration due to seller 2,303 Balance at December 31, 2019 (1,707) Change in contingent consideration due to seller 447 Payments of contingent consideration due to seller 953 Balance at December 31, 2020 $ (307) For the year ended December 31, 2020, the Company recognized a benefit of $0.4 million in selling, general and administrative expense due to the change in fair value determined by a level three valuation technique. For the years ended December 31, 2019 and 2018, the Company recognized net expense of $1.1 million and $0.4 million, respectively, in selling, general and administrative expense due to the change in fair value determined by a level three valuation technique. These changes in fair value resulted from using revised forecasts that took into account the most recent performance at each acquired business and the effect of the time value of money.

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment Property and equipment at December 31, 2020 and 2019, consisted of the following (in thousands): December 31, 2020 December 31, 2019 Computer equipment $ 28,286 $ 24,950 Software, including internal use software 142,624 124,692 Furniture, fixtures and office equipment 9,607 9,678 Leasehold improvements 29,391 29,621 209,908 188,940 Less accumulated depreciation (156,309) (130,320) Net property and equipment $ 53,599 $ 58,620 Note: Amounts may not foot due to rounding.

Intangibles and Other Assets

Intangibles and Other Assets	12 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Intangibles and Other Assets	Intangibles and Goodwill The balance of goodwill was $309.6 million as of December 31, 2020 and 2019, as no changes occurred during the period. The Company performs an annual impairment test and no such impairment was recognized. The Company has no accumulated impairment losses as of December 31, 2020. See Note 2 "Summary of Significant Accounting Policies", for additional information on our annual impairment testing. The following is a summary of intangible assets as of December 31, 2020 and December 31, 2019 (in thousands): December 31, 2020 December 31, 2019 Cost Accumulated Amortization Net Cost Accumulated Amortization Net Customer relationships $ 150,239 $ (76,677) $ 73,562 $ 150,239 $ (67,317) $ 82,922 Carrier relationships 18,300 (6,010) 12,290 18,300 (4,934) 13,366 Non-compete agreements 5,239 (4,303) 936 5,239 (3,765) 1,474 Trade names 5,640 (5,640) — 5,640 (5,640) — Total intangible assets $ 179,418 $ (92,630) $ 86,788 $ 179,418 $ (81,656) $ 97,762 Note: Amounts may not foot due to rounding. The customer relationships are being amortized using an accelerated method, as an accelerated method best approximates the distribution of cash flows generated by the acquired customer relationships. The carrier relationships, trade names and non-compete agreements are being amortized using the straight-line method. Amortization expense related to intangible assets was $11.0 million, $11.8 million and $13.0 million for the years ended December 31, 2020, 2019 and 2018, respectively. The estimated amortization expense for the next five years and thereafter is as follows (in thousands): 2021 10,362 2022 10,005 2023 9,501 2024 8,897 2025 8,201 Thereafter 39,822 Total $ 86,788 Note: Amounts may not foot due to rounding.

Accrued Expenses and Other Nonc

Accrued Expenses and Other Noncurrent Liabilities	12 Months Ended
	Dec. 31, 2020
Payables and Accruals [Abstract]
Accounts Expenses and Other Noncurrent Liabilities	Accrued Expenses and Other Liabilities The components of accrued expenses at December 31, 2020 and December 31, 2019 are as follows (in thousands): December 31, 2020 December 31, 2019 Accrued compensation $ 39,757 $ 21,192 Accrued rebates 3,196 3,119 Accrued employee benefits 3,077 4,235 Accrued professional service fees 1,512 1,395 Accrued interest 155 881 Other 5,760 4,407 Total accrued expenses $ 53,458 $ 35,229 Note: Amounts may not foot due to rounding. The other current liabilities of $4.0 million and $6.7 million at December 31, 2020 and December 31, 2019, respectively, consists primarily of the current portion of the Company's operating lease liabilities. The other noncurrent liabilities of $0.5

Long-Term Debt

Long-Term Debt	12 Months Ended
	Dec. 31, 2020
Long-term Debt, Unclassified [Abstract]
Long-term Debt	Long-Term Debt ABL Facility On October 23, 2018, the Company entered into Amendment No. 2 to its Revolving Credit and Security Agreement (the "Second Amendment"), which amended the terms of its existing Revolving Credit and Security Agreement, dated as of June 1, 2015, by and among the Company, the lenders party thereto, and PNC Bank, National Association, as administrative agent (as amended, restated or otherwise modified prior to the Second Amendment, the "Existing Credit Agreement" and, as amended by the Second Amendment, the "Amended Credit Agreement"). The Amended Credit Agreement provides for a senior secured revolving credit facility in an initial aggregate principal amount of up to $350 million (the "Amended ABL Facility"), with an extended maturity date of October 23, 2023. The initial aggregate principal amount under the Amended ABL Facility may be increased from time to time by an additional $150 million to a maximum aggregate principal amount of $500 million; provided that certain requirements are satisfied. The Company's obligations under the Amended ABL Facility are secured, on a first lien priority basis, by certain working capital assets. Interest is payable at a rate per annum equal to, at the option of the Company, any of the following, plus, in each case, an applicable margin: (a) a base rate determined by reference to the highest of (1) the federal funds effective rate, plus 0.50%, (2) the base commercial lending rate of PNC Bank, National Association and (3) a daily LIBOR rate, plus 1.00%; or (b) a LIBOR rate determined by reference to the costs of funds for deposits in the relevant currency for the interest period relevant to such borrowing adjusted for certain additional costs. The applicable margin is 0.25% to 0.50% for borrowings at the base rate and 1.25% to 1.50% for borrowings at the LIBOR rate, in each case, based on the excess availability under the Amended ABL Facility. The terms of the Amended ABL Facility include various covenants, including a covenant that requires the Company to maintain a consolidated fixed charge coverage ratio at any time (a) a specified default occurs or (b) if excess availability falls below certain specified levels. We remained in compliance with all covenants as of December 31, 2020. The Company incurred issuance costs of $0.8 million in 2018 related to the Amended ABL Facility. If the Company has an amount outstanding on the ABL Facility, these issuance costs are presented on the consolidated balance sheet as a reduction to the carrying amount of the debt and amortized to interest expense using straight-line amortization over the 5 year life of the Amended ABL Facility. If the Company has no outstanding draw on the ABL Facility, the unamortized issuance costs are presented as a deferred asset on the consolidated balance sheet. For each of the years ended December 31, 2020, 2019 and 2018, the Company recorded $0.1 million, $0.5 million and $0.7 million of interest expense related to the ABL Facility issuance costs, respectively. Under the Amended ABL Facility, the Company is required to pay a commitment fee in respect to the unutilized commitments under the Amended ABL Facility, calculated at a rate of 0.25%. The Company recognized interest expense related to the commitment fee and borrowings on the ABL Facility of $2.9 million, $1.1 million and $0.8 million for the years ended December 31, 2020, 2019 and 2018, respectively. The Company drew a total of $180.0 million on the ABL Facility, primarily to repay in full the existing 2.50% convertible senior notes due 2020 (the "Notes"), for the year ended December 31, 2020, of which $135.0 million is outstanding as of December 31, 2020. As there is an outstanding amount drawn on the ABL as of December 31, 2020, the unamortized issuance costs are presented as a reduction to the carrying amount of the debt on the consolidated balance sheet. The Company drew a total of $35.0 million and $12.0 million on the ABL Facility for the years ended December 31, 2019 and 2018, respectively, all of which was repaid as of December 31, 2019 and 2018. No amounts were outstanding on the ABL Facility as of December 31, 2019 and 2018. As there is no outstanding draw on the ABL Facility at December 31, 2019 and 2018, the unamortized issuance costs are presented as a deferred asset on the consolidated balance sheets. Since June 1, 2015, the Company has been in compliance with all covenants related to the ABL Facility. The issuance of letters of credit under the ABL Facility reduces available borrowings. At December 31, 2020, there were $0.7 million of letters of credit outstanding. The total draw allowed on the Amended ABL Facility at December 31, 2020, as determined by the working capital assets pledged as collateral, was $330.7 million. After adjusting for the letters of credit, the Company's remaining availability to borrow under the Amended ABL Facility at December 31, 2020 was $194.9 million. Convertible Senior Notes On May 5, 2015, the Company issued $230 million aggregate principal amount of 2.50% convertible senior notes due 2020 in a registered public offering (the "Notes"). The Notes bear interest at a rate of 2.50% per year payable semiannually in arrears in cash on May 1 and November 1 of each year, beginning on November 1, 2015. On May 1, 2020, the Company paid the Notes remaining outstanding principal balance of $69.2 million and related accrued interest of $0.9 million using the Amended ABL Facility. The Company accounted for these transactions in accordance with ASC 470-20, Debt with Conversion and Other Options . At the maturity date, the fair value of the Notes was equal to the par value, resulting in no gain or loss on the extinguishment of debt. Prior to paying the final outstanding balance of the Notes at maturity, the Company repurchased $89.1 million par value of the Notes for $89.0 million in cash, resulting in the recognition of a loss of $0.2 million during 2020. The loss is primarily for the write-off of the unamortized debt discount related to the Notes, which was included in interest expense in the Company's respective consolidated statements of operations. During the year ended December 31, 2019, the Company repurchased $34.3 million par value of the convertible senior notes for $33.9 million in cash, resulting in a $0.7 million loss. The losses were primarily for the write-off of the unamortized debt discount related to the Notes, which were included in interest expense in the Company’s respective consolidated statements of operations. As of December 31, 2020 and 2019, the carrying amount of the Notes on the consolidated balance sheets is calculated as follows (in thousands): December 31, 2020 December 31, 2019 Convertible senior notes, principal amount $ — $ 158,295 Unamortized debt discount — (1,667) Unamortized debt issuance costs — (330) Convertible senior notes, net $ — $ 156,298 For 2020, 2019 and 2018, interest expense related to the Notes consisted of the following (in thousands): December 31, 2020 December 31, 2019 December 31, 2018 Contractual coupon interest $ 1,063 $ 4,243 $ 5,647 Debt discount amortization 1,196 5,161 6,403 Loss on extinguishment of debt 166 711 751 Debt issuance cost amortization 236 1,021 1,266 Interest expense, Notes $ 2,662 $ 11,137 $ 14,067 Note: Amounts may not foot due to rounding.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Contingencies In the normal course of business, the Company is subject to potential claims and disputes related to its business, including claims for freight lost or damaged in transit. Some of these matters may be covered by its insurance and risk management programs or may result in claims or adjustments with the Company's carriers. The Company cannot predict the outcome of any litigation or the potential for future litigation and does not guarantee that these events will not adversely impact our financial results. Management does not believe that the outcome of any pending legal proceedings to which the Company is a party will have a material adverse effect on its financial position or results of operations. In July 2016, the Company received an unfavorable appeals assessment regarding a state activity-based tax matter of $1.3 million, including penalties and interest, for the state tax audit period from January 1, 2010 to June 30, 2014. The Company appealed the assessment further, and on July 23, 2020, received an unfavorable decision from the state tax board. The Company continues to believe the assessment is without merit and will continue to defend its position through the judicial court system. The Company estimates that the additional potential liability related to this matter for the remaining open tax periods is between $3.5 million and $4.5 million, including potential penalties and interest. The Company has not recorded any potential loss related to this matter as of December 31, 2020.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company accounts for income taxes and related uncertain tax positions in accordance with ASC Topic 740. For the years ended December 31, 2020, 2019 and 2018, the Company recognized net increases of $194 thousand, $115 thousand and $44 thousand, respectively, in unrecognized tax benefits that impact the tax rate. The Company's policy is to recognize interest and penalties on unrecognized tax benefits as a component of income tax expense. The Company has recorded interest on its unrecognized tax benefits in 2020 and 2019. The following is a reconciliation of the total amounts of unrecognized tax benefits excluding interest and penalties for the years ended December 31, 2020 and 2019 (in thousands): 2020 2019 Balance at January 1 $ 609 $ 498 Increases related to prior year tax positions 92 21 Increases related to current year tax positions 123 90 Decreases based on settlements with taxing authorities (9) — Balance at December 31 $ 815 $ 609 For the year ended December 31, 2020 and 2019, of the unrecognized tax benefits disclosed above, $510 thousand and $640 thousand, respectively, are classified as other noncurrent liabilities including interest and penalties. The remaining unrecognized tax benefits are included in deferred income taxes and income taxes payable for December 31, 2020, and the remaining unrecognized tax benefits are included in deferred income taxes for December 31, 2019. The Company does not believe it will have any significant changes in the amount of unrecognized tax benefits in the next twelve months. The total amount of the unrecognized tax benefits, if recognized, for the years ended December 31, 2020 and 2019, would affect the effective tax rate. The Company files income tax returns in the U.S. federal jurisdiction and various state jurisdictions. With few exceptions, the Company is no longer subject to U.S. federal examinations by tax authorities before 2017, and state and local income tax examinations, by tax authorities for years before 2016. The provision for income taxes consists of the following components for the years ended December 31, 2020, 2019 and 2018 (in thousands): 2020 2019 2018 Current: Federal $ 4,424 $ 1,628 $ 1,879 State 1,691 621 293 Total current 6,116 2,248 2,172 Deferred: Federal 1,393 3,214 5,572 State 167 1,570 1,552 Total deferred 1,560 4,783 7,124 Income tax expense $ 7,675 $ 7,032 $ 9,296 Note: Amounts may not foot due to rounding. The provision for income taxes for the years ended December 31, 2020, 2019 and 2018 differs from the amount computed by applying the U.S. federal income tax rate of 21% for 2020 and 2019 and 2018 to pretax income because of the effect of the following items (in thousands): 2020 2019 2018 Tax expense at U.S. federal income tax rate $ 4,936 $ 4,594 $ 7,984 State income taxes, net of federal income tax effect 1,295 1,179 1,553 Nondeductible expenses and other 883 820 941 Effect of state rate change on deferred items 21 79 — Research and development credit (617) (573) (420) Changes in unrecognized tax benefits 194 115 44 Provision to return adjustments (152) (185) (55) Share-based payment awards 1,131 644 (771) State tax credits (2,124) (2,179) (1,647) Valuation allowance 2,137 2,552 1,613 Audit settlements — 16 72 Work opportunity tax credit (30) (30) (18) Income tax expense $ 7,675 $ 7,032 $ 9,296 Note: Amounts may not foot due to rounding. For the years ended December 31, 2020 and 2019, the Company's noncurrent deferred tax assets and liabilities consisted of the following (in thousands): 2020 2019 Noncurrent deferred tax assets: Reserves and allowances $ 6,771 $ 3,922 Stock options 2,613 2,540 Net operating loss carryforward — 16 Credit carryforwards 10,994 8,953 Lease liability 7,487 8,824 Subtotal 27,866 24,255 Valuation allowance (10,346) (8,336) Total noncurrent deferred tax assets 17,519 15,919 Noncurrent deferred tax liabilities: Prepaid and other expenses 1,103 1,046 Intangible assets 25,514 19,636 Property and equipment 11,242 12,268 Convertible debt — 398 Section 481(a) adjustment - revenue recognition 742 1,482 Right of use asset 4,123 4,849 Total noncurrent deferred tax liabilities 42,724 39,680 Net deferred tax liability $ (25,205) $ (23,761) Note: Amounts may not foot due to rounding. For the years ended December 31, 2020 and 2019, the Company recorded deferred tax assets of $11.0 million and $9.0 million, respectively, for certain state tax credits with a 5 year credit carryforward period. The Company believes that it is more likely than not that a portion of the benefit from these state tax credit carryforwards will not be realized. In recognition of this risk, the Company recorded valuation allowances of $10.3 million and $8.3 million on the deferred tax asset relating to these state tax credit carryforwards as of December 31, 2020 and 2019, respectively.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity Preferred Stock The Board of Directors has the authority to issue up to 2,500,000 shares of preferred stock in one or more series and to establish the preferred stock's voting powers, preferences and other rights and qualifications without any further vote or action by the stockholders. As of December 31, 2020, 2019 and 2018, there was no preferred stock outstanding. Treasury Stock On May 1, 2017, the Board of Directors authorized a repurchase program for up to an aggregate of $50 million of the Company's outstanding common stock and Notes prior to its expiration on April 30, 2019. On November 1, 2018, the Board of Directors amended the repurchase program to add an additional $50 million of capacity and extend the expiration date to October 31, 2020, which was later amended on April 30, 2019 to add additional $50 million of capacity through October 31, 2020. On July 31, 2020, the Board of Directors amended the ongoing repurchase program to add an additional $50 million of capacity and extend the expiration date to July 31, 2022. As of December 31, 2020, $60.2 million remained available under the repurchase plan, as amended. The timing and amount of any repurchases will be determined based on market conditions and other factors, and the program may be discontinued or suspended at any time. For the years ended December 31, 2020, 2019 and 2018, the Company repurchased 489,662, 1,329,978 and 420,590 shares of common stock at a cost of $9.4 million, $29.7 million and $9.8 million, respectively. As of December 31, 2020, the Company has repurchased 5,767,100 shares of common stock, in aggregate, at a cost of $118.7 million. Convertible Notes

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic earnings per common share is calculated by dividing net income by the weighted average number of common shares outstanding. Diluted earnings per common share is calculated by dividing net income by the weighted average shares outstanding plus share equivalents that would arise from the exercise of share options and the vesting of restricted stock and performance shares. The computation of basic and diluted earnings per common share for the years ended December 31, 2020, 2019 and 2018 are as follows (in thousands, except share and per share data): Year Ended December 31, 2020 2019 2018 Numerator: Net income $ 15,832 $ 14,846 $ 28,723 Denominator: Denominator for basic earnings per common share - weighted-average shares 25,962,586 26,682,323 27,597,950 Effect of dilutive securities: Employee stock awards 390,410 140,665 323,936 Denominator for dilutive earnings per common share 26,352,996 26,822,988 27,921,886 Basic earnings per common share $ 0.61 $ 0.56 $ 1.04 Diluted earnings per common share $ 0.60 $ 0.55 $ 1.03 For the year ended December 31, 2020, the Company excluded in the aggregate 44,796 unvested restricted stock, restricted stock units, and performance and market-based shares from the calculation of diluted earnings per common share because the effect was anti-dilutive. There were no employee stock options excluded from calculation of diluted earnings per common share. For the year ended December 31, 2019, the Company excluded 5,377 unvested restricted stock from the calculation of diluted earnings per common share because the effect was anti-dilutive. There were no employee stock options and no unvested performance and market-based shares excluded from the calculation of diluted earnings per common share. For the year ended December 31, 2018, no unvested restricted stock, no employee stock options and no unvested performance and market-based shares were excluded from the calculation of diluted earnings per comment share.

Stock-Based Compensation Plans

Stock-Based Compensation Plans	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation Plans	Stock-Based Compensation Plans During the fourth quarter of 2009, the Company adopted the 2008 Stock Incentive Plan (the "2008 Plan"). The 2008 Plan was further amended and restated as of June 16, 2017 as the Amended and Restated 2008 Stock Incentive Plan (the "Amended 2008 Plan"). A total of 3,400,000 shares of common stock have been reserved for issuance under the Amended 2008 Plan. The Amended 2008 Plan is administered by the Board of Directors who determine the type of award, exercise price of options, the number of options to be issued, and the vesting period. As specified in the Amended 2008 Plan, the exercise price per share shall not be less than the fair market value on the effective date of grant. Upon exercise of a stock option under the Amended 2008 Plan, new stock is issued. The term of an option does not exceed 10 years, and the options generally vest ratably over one Total stock compensation for the years ended December 31, 2020, 2019 and 2018 was $11.4 million, $10.2 million and $9.3 million, respectively, which were recorded in selling, general and administrative expenses on the consolidated statements of operations. There was $12.7 million, $12.7 million and $11.4 million of total unrecognized compensation cost related to the stock-based compensation granted under the plans as of December 31, 2020, 2019 and 2018, respectively. This cost is expected to be recognized over a weighted-average period of 2.23 years. Stock Option Awards There were no stock options granted during 2020, 2019 or 2018. Since all options were fully vested as of December 31, 2016, the Company recorded no compensation expense with no corresponding tax benefits for stock option awards for the years ended December 31, 2020, 2019 and 2018. A summary of stock option activity is as follows: Shares Weighted- Weighted- Aggregate Outstanding at January 1, 2018 431,331 $ 11.16 2.3 $ 7,262 Granted — — Exercised (384,092) 11.01 7,025 Forfeited or canceled (650) 11.06 Outstanding at December 31, 2018 46,589 12.42 2.0 368 Granted — — Exercised (3,000) 12.38 36 Forfeited or canceled — — Outstanding at December 31, 2019 43,589 12.43 1.0 361 Granted — — Exercised (35,200) 11.95 228 Forfeited or canceled — — Outstanding at December 31, 2020 8,389 $ 14.42 0.4 $ 104 Options vested and exercisable at December 31, 2020 8,389 $ 14.42 0.4 $ 104 The following table provides information about stock options granted and vested in the years ended December 31 2020, 2019 and 2018 (in thousands): 2020 2019 2018 Options vested/exercisable: Grant date fair value $ 50 $ 243 $ 259 Aggregate intrinsic value $ 104 $ 361 $ 368 The aggregate intrinsic value of options outstanding represents the total pretax intrinsic value (the difference between the fair value of the Company's stock on the last day of each fiscal year and the exercise price, multiplied by the number of options where the exercise price exceeds the fair value) that would have been received by the option holders had all option holders exercised their options as of December 31, 2020, 2019 and 2018, respectively. These amounts change based on the fair market value of the Company's stock, which was $26.82, $20.70 and $20.33 on the last business day of the years ended December 31, 2020, 2019 and 2018, respectively. Restricted Stock Awards The Company awarded restricted shares to certain key employees that vest based on their continued employment. The value of these awards was established by the market price on the grant date and is being expensed ratably over the vesting period of the awards. The following table summarizes these non-vested restricted share grants as of December 31, 2020, 2019 and 2018: Number of Restricted Shares Weighted Average Grant Date Fair Value Non-vested at January 1, 2018 521,340 $ 23.82 Granted 228,014 27.79 Vested (204,845) 23.56 Forfeitures (46,198) 25.36 Non-vested at December 31, 2018 498,311 25.60 Granted 360,266 24.14 Vested (206,943) 25.74 Forfeitures (29,357) 24.69 Non-vested at December 31, 2019 622,277 24.75 Granted 3,069 19.55 Vested (261,710) 24.84 Forfeitures (33,786) 25.01 Non-vested at December 31, 2020 329,850 $ 24.60 In 2020, 2019 and 2018, the Company recorded $4.6 million, $6.2 million and $5.3 million in compensation expense with corresponding tax benefits of $1.1 million, $1.5 million and $1.3 million for restricted stock awards, respectively. In 2020, the Company awarded 3,069 shares of restricted stock to an employee, which will ratably vest over four years based on the employee continued employment. The grant date fair value of the restricted stock granted was $19.55. In 2019, the Company awarded 360,266 shares of restricted stock to certain employees and directors, of which 33,042 will vest ratably over one year, 1,793 will vest ratably over three years and 325,431 will vest ratably over four years based on the employees' continued employment. The grant date fair value of the restricted stock granted ranged from $19.25 to $29.50. In 2018, the Company awarded 228,014 shares of restricted stock to certain employees and directors, of which 21,197 will vest ratably over one year, 887 will vest ratably over three years and 205,930 will vest ratably over four years based on the employees' continued employment. The grant date fair value of the restricted stock granted ranged from $27.55 to $36.65. Restricted Stock Unit Awards The Company awarded restricted stock units to certain key employees that vest based on their continued employment. The value of these awards was established by the market price on the grant date and is being expensed ratably over the vesting period of the awards. The following table summarizes these non-vested restricted share grants as of December 31, 2020: Number of Restricted Stock Units Weighted Average Grant Date Fair Value Non-vested at January 1, 2020 — $ — Granted 462,532 20.85 Vested (8,165) 20.78 Forfeitures (29,054) 19.94 Non-vested at December 31, 2020 425,313 $ 20.91 In 2020, the Company recorded $3.7 million in compensation expense with corresponding tax benefits of $0.9 million for restricted stock unit awards, respectively. The expense includes accelerated expense recognition from certain retirement provisions in equity awards granted. In 2020, the Company awarded 462,532 shares of restricted stock units to certain employees and directors, of which 32,525 will vest ratably over one year, 153,774 will vest ratably over three years and 276,233 will vest ratably over four years based on the employees' continued employment. The grant date fair value of the restricted stock granted ranged from $16.88 to $29.16. Performance-Based Shares In 2020, 2019 and 2018, the Company granted 19,545, 20,722 and 19,598 shares of restricted stock and restricted stock units at grant date fair values of $20.33, $28.05 and $25.35, respectively, to certain branch executives, which were issued based on financial targets achieved during the respective performance period. In 2020, 2019 and 2018, the Company recognized $0.4 million, $0.5 million and $0.2 million in stock compensation expense with corresponding tax benefits of $0.1 million, $0.1 million and $0.1 million, respectively, for performance-based shares. Performance and Market-Based Stock In 2014, the Company initiated a performance and market-based stock incentive plan for certain executives that provides vesting based on specific financial and market-based performance measurements. Stock compensation expense related to these awards is recognized ratably over the vesting period for 2020 grant and using the accelerated attribution method for 2019 and 2018 grants. The Company granted 139,191, 105,543 and 97,966 shares of performance and market-based stock at grant date fair values of $29.84, $34.54 and $35.41 during the years ended December 31, 2020, 2019 and 2018, respectively. The fair value of the awards was estimated using a Monte Carlo valuation model, which uses multiple simulations to evaluate probability of achieving various stock price levels to determine our expected performance ranking relative to our peer group.

Benefit Plans

Benefit Plans	12 Months Ended
	Dec. 31, 2020
Retirement Benefits [Abstract]
Benefit Plans	Benefit PlansThe Company maintains a 401(k) savings plan, covering all of the Company's employees upon hiring. Employees may contribute a percentage of eligible compensation on both a before-tax basis and an after-tax basis. The Company has the right to make discretionary contributions to the plan. For the years ended December 31, 2020, 2019 and 2018, the Company contributed $2.0 million annually, which were recorded in selling, general and administrative expenses on the consolidated statements of operations.

Significant Customer Concentrat

Significant Customer Concentration	12 Months Ended
	Dec. 31, 2020
Risks and Uncertainties [Abstract]
Significant Customer Concentration	Significant Customer ConcentrationFor the years ended December 31, 2020, 2019 and 2018, all revenue consisted of sales generated from customers that individually represented less than 10% of the Company's revenue.

Quarterly Financial Data (Unaud

Quarterly Financial Data (Unaudited)	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Data (Unaudited)	Quarterly Financial Data (Unaudited) Year Ended December 31, 2020 In thousands, except per share data First Second Third Fourth Revenue $ 551,049 $ 514,719 $ 691,495 $ 754,252 Operating income 460 2,761 10,259 16,017 Net (loss) income (2,933) 951 6,818 10,996 (Loss) earnings per common share: Basic $ (0.11) $ 0.04 $ 0.26 $ 0.42 Diluted $ (0.11) $ 0.04 $ 0.26 $ 0.41 Year Ended December 31, 2019 In thousands, except per share data First Second Third Fourth Quarter Revenue $ 538,083 $ 553,775 $ 561,441 $ 531,677 Operating income 9,103 10,672 9,665 5,076 Net income 3,497 5,067 4,843 1,439 Earnings per common share: Basic $ 0.13 $ 0.19 $ 0.18 $ 0.05 Diluted $ 0.13 $ 0.19 $ 0.18 $ 0.05

Related Parties

Related Parties	12 Months Ended
	Dec. 31, 2020
Related Parties [Abstract]
Related Parties	Related PartiesThere were no related party transactions during the years ended December 31, 2020, 2019 or 2018.

Leases

Leases	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Leases	Leases The Company adopted ASC Topic 842 on January 1, 2019 using the modified retrospective approach. Comparative information has not been restated and continues to be reported under ASC 840, Leases ("ASC Topic 840"), which was the accounting standard in effect for those periods. The Company leases office space for purposes of conducting its business. As of December 31, 2020, the Company leases approximately 225,000 square feet at its corporate headquarters in Chicago, Illinois, with a lease term expiring in September 2027. In addition, the Company continues to lease approximately 30 branch sales offices, with a range of lease terms between 2-11 years. Leases with an initial term of 12 months or less are not recorded on the balance sheet; lease expense for these leases is recognized on a straight-line basis over the lease term. All Company leases, consisting primarily of facility leases, were evaluated upon the adoption of ASC Topic 842, and it was determined that these were all operating leases. Most leases include one or more options to renew, with renewal terms that can extend the lease term. The Company also has some leases that include termination options. The exercise of lease renewal or termination options is at the Company's sole discretion, and it does not recognize these options as part of its ROU assets or lease liabilities. The Company's lease agreements do not contain any material residual value guarantees or material restrictive covenants. The Company determines if an arrangement contains a lease at inception. The Company has performed an evaluation of other contracts with customers and suppliers in accordance with ASC Topic 842 and has determined that, except for the facility leases described above, none of its contracts contain a lease. The balance sheet classification of lease assets and liabilities is as follows (in thousands): December 31, 2020 December 31, 2019 ROU assets: Operating lease assets $ 16,724 $ 19,638 Operating lease liabilities: Current portion in other current liabilities $ 4,004 $ 5,810 Noncurrent operating lease liabilities 27,651 31,475 Total operating lease liabilities $ 31,655 $ 37,285 The components of lease expense is as follows (in thousands): December 31, 2020 December 31, 2019 Operating lease expense $ 5,651 $ 5,930 Short-term lease expense 143 261 Total lease expense $ 5,794 $ 6,191 For the year ended December 31, 2018, the Company recognized operating lease rental expense of $6.0 million on a straight-line basis over the term of the lease in accordance with ASC Topic 840. Cash paid for amounts included in the measurement of lease liabilities for the year ended December 31, 2020 and 2019 was $8.4 million and $8.6 million, respectively, and was included in net cash provided by operating activities in the consolidated statement of cash flows. During the year ended December 31, 2020 and 2019, a total of $0.2 million and $2.1 million, respectively, of right-of-use assets were obtained in exchange for new operating lease liabilities. The average lease term and discount rate were as follows: December 31, 2020 December 31, 2019 Weighted average remaining lease term (in years) 6.16 6.85 Weighted average operating discount rate 7.6 % 7.5 % The Company's leases generally do not provide an implicit rate, and therefore the Company uses its incremental borrowing rate as the discount rate when measuring operating lease liabilities. The incremental borrowing rate represents an estimate of the interest rate the Company would incur at lease commencement to borrow an amount equal to the lease payments on a collateralized basis over the term of a lease within a particular currency environment. The incremental borrowing rate is influenced by the Company's credit rating and lease term and may differ for individual leases. The Company used incremental borrowing rates as of January 1, 2019 for operating leases that commenced prior to that date. As of December 31, 2020, maturities of operating lease liabilities were as follows (in thousands): Operating Leases 2021 6,244 2022 6,476 2023 6,137 2024 5,673 2025 5,705 Thereafter 9,925 Total lease payments $ 40,160 Less: imputed interest 8,505 Total operating lease liabilities $ 31,655 Practical Expedients The Company adopted the package of practical expedients that allows it to (i) not reassess whether an arrangement contains a lease, (ii) carry forward its lease classification as operating or capital leases and (iii) not reassess its previously recorded initial direct costs. In addition, the Company elected the practical expedient to not separate lease and non-lease components, and therefore both components are accounted for and recognized as lease components.

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2020
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Schedule II - Valuation and Qualifying Accounts	SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS Valuation and Qualifying Accounts (In thousands) 2020 2019 2018 Allowance for doubtful accounts: Balance at beginning of year $ 4,255 $ 4,618 $ 3,745 Provision, charged to expense 2,881 2,333 2,654 Write-offs, less recoveries (850) (2,696) (1,781) Balance at end of year $ 6,287 $ 4,255 $ 4,618 Deferred tax assets - valuation allowance: Balance at beginning of year $ 8,336 $ 5,241 $ 3,627 Adjustments 2,112 3,095 1,613 Balance at end of year $ 10,448 $ 8,336 $ 5,241 Note: Amounts may not foot due to rounding.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Preparation of Financial Statements and Use of Estimates	Preparation of Financial Statements and Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States (U.S. GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenue and expenses during the reporting periods. Actual results can differ from those estimates.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The carrying value of the Company's financial instruments, which consist of cash and cash equivalents, accounts receivable and accounts payable, approximate their fair values due to their short-term nature. The fair value of the due to seller liabilities are determined based on the likelihood of the Company making contingent earn-out payments. See Note 6 "Fair value Measurement" for additional information.
Revenue Recognition	Revenue Recognition The Company adopted ASC Topic 606 Revenue from Contracts with Customers ("ASC Topic 606") on January 1, 2018. Results for reporting periods beginning on or after January 1, 2018 are presented under ASC Topic 606, of which prior amounts are not adjusted and continue to be in accordance with the accounting standards in effect for those periods. Under ASC Topic 606, revenue is recognized when control of the promised goods or services is transferred to the Company's customers, in an amount that reflects the consideration the Company expects to receive in exchange for services. The Company generates revenue from two different client types: Transactional and Managed Transportation. Most clients are categorized as Transactional clients. For its Transactional business, the Company provides brokerage and transportation management services on a shipment-by-shipment basis. Carrier selection, dispatch, load management and tracking are integrated services that occur within the brokerage and transportation management performance obligation. The Company categorizes a client as a Managed Transportation client if there is an agreement with the client for the provision of services, typically for a multi-year term. Brokerage and transportation management services is typically the performance obligation for the Company's Managed Transportation clients. For the brokerage and transportation management services performance obligation, revenue is recognized as the client's shipment travels from origin to destination by a third-party carrier. The Company is the principal in these transactions and recognizes revenue on a gross and relative transit time basis. Other performance obligations for Managed Transportation clients may include transportation management services, which includes the integrated services of dispatch, tracking and carrier payment. For these types of transactions, revenue is recorded on a net basis as the Company does not have latitude in carrier selection or establish rates with the carrier. The Company also performs project-based services, such as compliance management, customized re-billing services and freight studies for certain Managed Transportation clients. Further discussion of the changes to the revenue recognition policy under the new standard is discussed in Note 5 "Revenue".
Rebates	Rebates The Company has entered into agreements with certain clients to rebate to them a portion of the costs that they pay to the Company for transportation services, based on certain conditions and/or pricing schedules that are specific to each individual agreement, but that are typically constructed as a percentage of the costs that the client incurs. Refer to Note 5 "Revenue" for further discussion. Rebates are recognized at the same time that the related transportation revenue is recognized and are recorded as a reduction of transportation revenue.
Segment Reporting	Segment Reporting For operating purposes, the Company is organized as one operating segment pursuant to the provisions of ASC Topic 280 Segment Reporting
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents.
Accounts Receivable and Allowance for Doubtful Accounts	Accounts Receivable and Allowance for Doubtful Accounts Accounts receivable are uncollateralized customer obligations due under normal trade terms. Invoices require payment within 30 to 90 days from the invoice date. Accounts receivable are stated at the amount billed to the customer. Customer account balances with invoices 90 days past due are considered delinquent. The Company generally does not charge interest on past due amounts. Additionally, the Company maintains a credit insurance policy for certain accounts. The carrying amount of accounts receivable is reduced by an allowance for doubtful accounts that reflects management's best estimate of amounts that will not be collected. The allowance is based on historical loss experience and any specific risks identified in client collection matters. Accounts receivable are charged off against the allowance for doubtful accounts when it is determined that the receivable is uncollectible. The Company recorded $2.9 million, $2.3 million and $2.7 million of bad debt expense for the years ended December 31, 2020, 2019 and 2018, respectively. On January 1, 2020, the Company adopted Accounting Standards Update ("ASU") 2016-13, Financial Instruments - Credit Losses Topic 326 , using the prospective approach. Results for reporting periods beginning on or after January 1, 2020 are presented under ("Topic 326"). Prior period amounts are not adjusted and continue to be reported in accordance with the accounting standards in effect for those periods. The Company is exposed to potential credit losses related to its trade receivables, which the Company categorizes as either Transactional or Managed Transportation. For its Transactional trade receivables, the Company utilizes historical loss information to develop an estimate for future expected credit losses. For its Managed Transportation trade receivables, the Company estimates its potential future expected credit losses on a customer specific basis. The Company considers current economic conditions and forecasts when determining its credit loss estimate based on the aging schedule. The Company transacts with customers in a variety of industries and adjusts its estimate accordingly if it becomes aware of financial difficulties for a specific customer. The Company extends credit to certain clients as part of its business model. These clients are subject to an approval process prior to any extension of credit or increase in their current credit limit. The Company reviews each credit request and considers, among other factors, payment history, current billing status, recommendations by various rating agencies and capitalization. Clients that satisfy the credit review may receive a line of credit or an increase in their existing credit amount. The Company believes this review and approval process helps mitigate the risk of client defaults on extensions of credit and any potential credit losses. Additionally, the Company maintains a credit insurance policy for certain accounts. The following table summarizes the components of the allowance as of December 31, 2020 (in thousands): Allowance for Doubtful Accounts Balance at December 31, 2019 $ 4,255 Provision, charged to expense 2,881 Write-offs (3,357) Recoveries 2,507 Balance at December 31, 2020 $ 6,287 Note: Amounts may not foot due to rounding.
Property and Equipment	Property and Equipment Property and equipment are stated at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the respective assets. Leasehold improvements under operating leases are depreciated over the estimated useful life of the improvement or the remaining term of the lease, whichever is shorter. The estimated useful lives, by asset class, are as follows: Computer equipment and software 3 years Office equipment 5 years Furniture and fixtures 5 - 7 years
Operating Leases	Leases The Company adopted Accounting Standards Codification ("ASC") Topic 842 Leases ("ASC Topic 842") on January 1, 2019, of which prior amounts are not adjusted and continue to be in accordance with the accounting standards in effect for those periods. The Company determines if an arrangement contains a lease at inception. Operating leases are recorded as right-of-use assets ("ROU assets"), which are included in operating lease assets, and lease liabilities, which are included in other current liabilities and noncurrent operating lease liabilities on the consolidated balance sheets. As of December 31, 2020, all Company leases were operating leases. ROU assets represent the right to use an underlying asset for the lease term and lease liabilities represent an obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. Most leases include one or more options to renew, with renewal terms that can extend the lease term. The Company also has some leases that include termination options. The exercise of lease renewal or termination options is at the Company's sole discretion, and it does not recognize these options as part of its ROU assets or lease liabilities. The Company's lease agreements do not contain any material residual value guarantees or material restrictive covenants. The Company's leases generally do not provide an implicit rate, and therefore, the Company uses its incremental borrowing rate as the discount rate when measuring operating lease liabilities. The incremental borrowing rate represents an estimate of the interest rate the Company would incur at lease commencement to borrow an amount equal to the lease payments on a collateralized basis over the term of a lease within a particular currency environment. The incremental borrowing rate is influenced by the Company's credit rating and lease term and may differ for individual leases. The Company's 2018 leases were recognized in accordance with ASC Topic 840 Leases
Internal Use Software	Internal Use Software Certain costs incurred in the planning and evaluation stage of internal use computer software projects are expensed as incurred. Costs incurred during the application development stage for the development of internal use software, including upgrades and enhancements that provide additional functionality to existing software, are capitalized and included in property and equipment. The Company capitalized $17.9 million and $16.9 million of internal use software costs during the years ended December 31, 2020 and 2019, respectively. Capitalized internal use software costs are amortized over the expected economic life of three years using the straight-line method. The total expense, included in depreciation expense, for the years ended December 31, 2020, 2019 and 2018 was $19.1 million, $17.9 million and $15.0 million, respectively. At December 31, 2020 and 2019, the net book value of internal use software costs was $30.2 million and $31.5 million, respectively.
Goodwill and Other Intangibles	Goodwill and Other Intangibles Goodwill represents the excess of consideration transferred over the value assigned to the net tangible and identifiable intangible assets of businesses acquired. In accordance with ASC Topic 350 Intangibles - Goodwill and Other : Testing Goodwill for Impairment ("ASC 350") , goodwill is not amortized, but instead is tested for impairment annually, or more frequently if circumstances indicate a possible impairment may exist. Absent any special circumstances that could require an interim test, the Company has elected to test for goodwill impairment during the fourth quarter of each year. The Company manages the business as one operating segment and one reporting unit pursuant to the provisions of ASC Topic 280 Segment Reporting , which established accounting standards for segment reporting. Accounting Standards Update No. 2011-08, “ Intangibles - Goodwill and Other: Testing Goodwill for Impairment " permits an entity to first assess qualitative factors to determine whether it is more likely than not (a likelihood of more than 50 percent) that the fair value of a reporting unit is less than its carrying amount. After assessing qualitative factors, if an entity determines that it is more likely than not that the fair value of the reporting unit is greater than its carrying amount, no further testing is necessary. In October 2020, the Company performed a quantitative goodwill impairment assessment of the reporting unit in accordance with ASC 350 due to the uncertain economic environment created by the COVID-19 pandemic. We utilized a combination of two valuation methodologies commonly referred to as the income approach and the market approach. For the income approach, we used the discounted cash flow model and for the market approach, we used the guideline public company method. The discounted cash flow method under the income approach uses the reporting unit's projection of estimated operating results and cash flows that is discounted using a weighted-average cost of capital that reflects current market conditions appropriate to the reporting unit. The guideline public company method under the market approach uses pricing multiples of a peer group of publicly traded companies and applies these multiples to the operating results of each reporting unit to provide indications of value. A concluded enterprise value based on equal weighting of the two methods was reconciled to current market capitalization. Both methods use management's best estimates of economic and market conditions over the projected period, including growth rates in sales, costs, estimates of future expected changes in operating margins and cash expenditures. As a result of our quantitative assessment of the reporting unit, we concluded that the fair value of the reporting unit exceeded its carrying amount. ASC Topic 350 also requires that intangible assets with finite lives be amortized over their respective estimated useful lives and reviewed for impairment whenever impairment indicators exist in accordance with ASC Topic 360 Property, Plant and Equipment
Self Insurance Liability	Self-Insurance LiabilityThe Company is self-insured for its employee health plans and records a liability that represents its estimated cost of claims incurred and unpaid as of the balance sheet date. The Company's estimated liability is not discounted and is based on a number of assumptions and factors, including historical trends, actuarial assumptions and economic conditions. The total estimated self-insurance liabilities as of December 31, 2020 and 2019 were $1.0 million and $0.8 million, respectively.
Stock-Based Compensation	Stock-Based Compensation The Company accounts for stock-based compensation in accordance with ASC Topic 718 Compensation - Stock Compensation which requires all share-based payments to employees, including grants of stock options, to be recognized in the income statement based upon their fair values. Share-based compensation for restricted stock and restricted stock unit is reduced by estimated forfeitures for each period and adjusted accordingly upon vesting or actual forfeiture. Share-based employee compensation costs are recognized as a component of selling, general and administrative expense in the consolidated statements of operations. See Note 15 "Stock-based Compensation Plans" for a description of the Company's accounting for stock-based compensation plans.
Income Taxes	Income Taxes Under ASC Topic 740 Income Taxes , deferred assets and liabilities are recognized based upon anticipated future tax consequences attributable to differences between financial statement carrying values of assets and liabilities and their respective tax bases. A valuation allowance is established to reduce the carrying value of deferred tax assets if it is considered more likely than not that such assets will not be realized. Any change in the valuation allowance would be charged to income in the period such determination was made.
New Accounting Pronouncements	New Accounting Pronouncements Recently adopted accounting pronouncements In June 2016, the Financial Accounting Standards Board ("FASB") issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326), which replaces the incurred loss methodology previously employed to measure credit losses for most financial assets and requires the use of a forward-looking expected loss model. This update requires financial assets to be measured at amortized costs less a reserve and equal to the net amount expected to be collected. The Company adopted this standard on January 1, 2020 using the prospective approach. The comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods. At December 31, 2020, the Company reported $439.4 million of accounts receivable, net of allowance of $6.3 million. The Company fully describes the adoption and impact of this standard in Note 2 "Summary of Significant of Accounting Policies". As part of the adoption of this standard, the Company implemented changes to its accounting policies, practices and internal controls over financial reporting. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement, which modifies the disclosure requirements on fair value measurements in Topic 820, Fair Value Measurement. This new accounting standard was effective for annual periods beginning after December 15, 2019. The Company adopted the standard on January 1, 2020. The adoption of this new standard did not have a material impact on the Company's consolidated financial statements. Recently issued accounting pronouncements not yet adopted In October 2020, the FASB issued ASU 2020-10, Codification Improvements – Disclosures, which provides consistency by amending the codification to include all disclosure sections and clarifies application of various provisions in the Codification by amending and adding new headings, cross referencing to other guidance, and refining or correcting terminology. The guidance is effective for interim and annual periods beginning after December 15, 2020. Early adoption is permitted. The guidance is to be applied using retrospective method. The Company anticipates that the adoption of this guidance will not have a material impact on its consolidated financial statements. In August 2020, the FASB issued ASU 2020-06, Debt with Conversion and Other Options, which is intended to simplify the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts on an entity’s own equity. The guidance is effective for interim and annual periods beginning after December 15, 2021. Early adoption is permitted. The guidance is to be applied using either a full retrospective or modified retrospective method. The Company anticipates that the adoption of this guidance will not have a material impact on its consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform, which provides companies with optional guidance, including expedients and exceptions for applying U.S. GAAP to contracts and other transactions affected by reference rate reform, such as the London Interbank Offered Rate (LIBOR). This new standard was effective upon issuance and generally can be applied to applicable contract modifications through December 31, 2022. The Company is evaluating the effects that the adoption of this guidance will have on its disclosures.
Basis of Accounting, Policy	Basis of Presentation The consolidated financial statements include the accounts of Echo Global Logistics, Inc. and its subsidiaries (the Company). All significant intercompany accounts and transactions have been eliminated in the consolidation. The consolidated statements of operations include the results of entities or assets acquired from the effective date of the acquisition for accounting purposes.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Useful lives of property and equipment	The estimated useful lives, by asset class, are as follows: Computer equipment and software 3 years Office equipment 5 years Furniture and fixtures 5 - 7 years Property and equipment at December 31, 2020 and 2019, consisted of the following (in thousands): December 31, 2020 December 31, 2019 Computer equipment $ 28,286 $ 24,950 Software, including internal use software 142,624 124,692 Furniture, fixtures and office equipment 9,607 9,678 Leasehold improvements 29,391 29,621 209,908 188,940 Less accumulated depreciation (156,309) (130,320) Net property and equipment $ 53,599 $ 58,620 Note: Amounts may not foot due to rounding.
Accounts Receivable, Allowance for Credit Loss	The following table summarizes the components of the allowance as of December 31, 2020 (in thousands): Allowance for Doubtful Accounts Balance at December 31, 2019 $ 4,255 Provision, charged to expense 2,881 Write-offs (3,357) Recoveries 2,507 Balance at December 31, 2020 $ 6,287 Note: Amounts may not foot due to rounding.

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table presents the Company's revenue disaggregated by client type (in thousands): Year Ended December 31, Client Type 2020 2019 2018 Transactional $ 1,936,688 $ 1,684,872 $ 1,915,589 Managed Transportation 574,827 500,105 524,112 Revenue $ 2,511,515 $ 2,184,977 $ 2,439,701 Note: Amounts may not foot due to rounding. The following table presents the Company's revenue disaggregated by mode (in thousands): Year Ended December 31, Mode 2020 2019 2018 Truckload $ 1,757,494 $ 1,437,566 $ 1,686,358 Less than truckload 659,358 646,594 638,404 Other revenue 94,663 100,817 114,939 Revenue $ 2,511,515 $ 2,184,977 $ 2,439,701 Note: Amounts may not foot due to rounding.

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Financial liabilities measured at fair value on a recurring basis	The following tables set forth the Company's financial liabilities measured at fair value on a recurring basis and the basis of measurement at December 31, 2020 and 2019 (in thousands): Fair Value Measurements as of December 31, 2020 Total Level 1 Level 2 Level 3 Liabilities: Contingent consideration due to seller $ (307) — — $ (307) Fair Value Measurements as of December 31, 2019 Total Level 1 Level 2 Level 3 Liabilities: Contingent consideration due to seller $ (1,707) — — $ (1,707)
Reconciliation of the beginning and ending balances for the liabilities measured at fair value using significant unobservable inputs	The following table provides a reconciliation of the beginning and ending balances for the liabilities measured at fair value using significant unobservable inputs (Level 3) (in thousands): Due to Seller Liability Balance at January 1, 2019 $ (2,960) Change in contingent consideration due to seller (1,050) Payments of contingent consideration due to seller 2,303 Balance at December 31, 2019 (1,707) Change in contingent consideration due to seller 447 Payments of contingent consideration due to seller 953 Balance at December 31, 2020 $ (307)

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Components of property and equipment	The estimated useful lives, by asset class, are as follows: Computer equipment and software 3 years Office equipment 5 years Furniture and fixtures 5 - 7 years Property and equipment at December 31, 2020 and 2019, consisted of the following (in thousands): December 31, 2020 December 31, 2019 Computer equipment $ 28,286 $ 24,950 Software, including internal use software 142,624 124,692 Furniture, fixtures and office equipment 9,607 9,678 Leasehold improvements 29,391 29,621 209,908 188,940 Less accumulated depreciation (156,309) (130,320) Net property and equipment $ 53,599 $ 58,620 Note: Amounts may not foot due to rounding.

Intangibles and Other Assets (T

Intangibles and Other Assets (Tables)	12 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of amortizable intangible assets	The following is a summary of intangible assets as of December 31, 2020 and December 31, 2019 (in thousands): December 31, 2020 December 31, 2019 Cost Accumulated Amortization Net Cost Accumulated Amortization Net Customer relationships $ 150,239 $ (76,677) $ 73,562 $ 150,239 $ (67,317) $ 82,922 Carrier relationships 18,300 (6,010) 12,290 18,300 (4,934) 13,366 Non-compete agreements 5,239 (4,303) 936 5,239 (3,765) 1,474 Trade names 5,640 (5,640) — 5,640 (5,640) — Total intangible assets $ 179,418 $ (92,630) $ 86,788 $ 179,418 $ (81,656) $ 97,762 Note: Amounts may not foot due to rounding.
Estimated amortization expense for the next five years and thereafter	The estimated amortization expense for the next five years and thereafter is as follows (in thousands): 2021 10,362 2022 10,005 2023 9,501 2024 8,897 2025 8,201 Thereafter 39,822 Total $ 86,788 Note: Amounts may not foot due to rounding.

Accrued Expenses and Other No_2

Accrued Expenses and Other Noncurrent Liabilities (Tables)	12 Months Ended
	Dec. 31, 2020
Payables and Accruals [Abstract]
Components of accrued expenses	The components of accrued expenses at December 31, 2020 and December 31, 2019 are as follows (in thousands): December 31, 2020 December 31, 2019 Accrued compensation $ 39,757 $ 21,192 Accrued rebates 3,196 3,119 Accrued employee benefits 3,077 4,235 Accrued professional service fees 1,512 1,395 Accrued interest 155 881 Other 5,760 4,407 Total accrued expenses $ 53,458 $ 35,229 Note: Amounts may not foot due to rounding.

Long-Term Debt (Tables)

Long-Term Debt (Tables)	12 Months Ended
	Dec. 31, 2020
Long-term Debt, Unclassified [Abstract]
Schedule of long-term debt	As of December 31, 2020 and 2019, the carrying amount of the Notes on the consolidated balance sheets is calculated as follows (in thousands): December 31, 2020 December 31, 2019 Convertible senior notes, principal amount $ — $ 158,295 Unamortized debt discount — (1,667) Unamortized debt issuance costs — (330) Convertible senior notes, net $ — $ 156,298
Schedule of interest expense related to Notes	For 2020, 2019 and 2018, interest expense related to the Notes consisted of the following (in thousands): December 31, 2020 December 31, 2019 December 31, 2018 Contractual coupon interest $ 1,063 $ 4,243 $ 5,647 Debt discount amortization 1,196 5,161 6,403 Loss on extinguishment of debt 166 711 751 Debt issuance cost amortization 236 1,021 1,266 Interest expense, Notes $ 2,662 $ 11,137 $ 14,067 Note: Amounts may not foot due to rounding.

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Changes in unrecognized tax benefits	The following is a reconciliation of the total amounts of unrecognized tax benefits excluding interest and penalties for the years ended December 31, 2020 and 2019 (in thousands): 2020 2019 Balance at January 1 $ 609 $ 498 Increases related to prior year tax positions 92 21 Increases related to current year tax positions 123 90 Decreases based on settlements with taxing authorities (9) — Balance at December 31 $ 815 $ 609
Components of provision for income taxes	The provision for income taxes consists of the following components for the years ended December 31, 2020, 2019 and 2018 (in thousands): 2020 2019 2018 Current: Federal $ 4,424 $ 1,628 $ 1,879 State 1,691 621 293 Total current 6,116 2,248 2,172 Deferred: Federal 1,393 3,214 5,572 State 167 1,570 1,552 Total deferred 1,560 4,783 7,124 Income tax expense $ 7,675 $ 7,032 $ 9,296 Note: Amounts may not foot due to rounding.
Reconciliation of effective income tax rate	The provision for income taxes for the years ended December 31, 2020, 2019 and 2018 differs from the amount computed by applying the U.S. federal income tax rate of 21% for 2020 and 2019 and 2018 to pretax income because of the effect of the following items (in thousands): 2020 2019 2018 Tax expense at U.S. federal income tax rate $ 4,936 $ 4,594 $ 7,984 State income taxes, net of federal income tax effect 1,295 1,179 1,553 Nondeductible expenses and other 883 820 941 Effect of state rate change on deferred items 21 79 — Research and development credit (617) (573) (420) Changes in unrecognized tax benefits 194 115 44 Provision to return adjustments (152) (185) (55) Share-based payment awards 1,131 644 (771) State tax credits (2,124) (2,179) (1,647) Valuation allowance 2,137 2,552 1,613 Audit settlements — 16 72 Work opportunity tax credit (30) (30) (18) Income tax expense $ 7,675 $ 7,032 $ 9,296 Note: Amounts may not foot due to rounding.
Components of deferred tax assets and liabilities	For the years ended December 31, 2020 and 2019, the Company's noncurrent deferred tax assets and liabilities consisted of the following (in thousands): 2020 2019 Noncurrent deferred tax assets: Reserves and allowances $ 6,771 $ 3,922 Stock options 2,613 2,540 Net operating loss carryforward — 16 Credit carryforwards 10,994 8,953 Lease liability 7,487 8,824 Subtotal 27,866 24,255 Valuation allowance (10,346) (8,336) Total noncurrent deferred tax assets 17,519 15,919 Noncurrent deferred tax liabilities: Prepaid and other expenses 1,103 1,046 Intangible assets 25,514 19,636 Property and equipment 11,242 12,268 Convertible debt — 398 Section 481(a) adjustment - revenue recognition 742 1,482 Right of use asset 4,123 4,849 Total noncurrent deferred tax liabilities 42,724 39,680 Net deferred tax liability $ (25,205) $ (23,761) Note: Amounts may not foot due to rounding.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Computation of basic and diluted earnings per common share	The computation of basic and diluted earnings per common share for the years ended December 31, 2020, 2019 and 2018 are as follows (in thousands, except share and per share data): Year Ended December 31, 2020 2019 2018 Numerator: Net income $ 15,832 $ 14,846 $ 28,723 Denominator: Denominator for basic earnings per common share - weighted-average shares 25,962,586 26,682,323 27,597,950 Effect of dilutive securities: Employee stock awards 390,410 140,665 323,936 Denominator for dilutive earnings per common share 26,352,996 26,822,988 27,921,886 Basic earnings per common share $ 0.61 $ 0.56 $ 1.04 Diluted earnings per common share $ 0.60 $ 0.55 $ 1.03

Stock-Based Compensation Plans

Stock-Based Compensation Plans (Tables)	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Summary of stock option activity	A summary of stock option activity is as follows: Shares Weighted- Weighted- Aggregate Outstanding at January 1, 2018 431,331 $ 11.16 2.3 $ 7,262 Granted — — Exercised (384,092) 11.01 7,025 Forfeited or canceled (650) 11.06 Outstanding at December 31, 2018 46,589 12.42 2.0 368 Granted — — Exercised (3,000) 12.38 36 Forfeited or canceled — — Outstanding at December 31, 2019 43,589 12.43 1.0 361 Granted — — Exercised (35,200) 11.95 228 Forfeited or canceled — — Outstanding at December 31, 2020 8,389 $ 14.42 0.4 $ 104 Options vested and exercisable at December 31, 2020 8,389 $ 14.42 0.4 $ 104
Stock options granted and vested	The following table provides information about stock options granted and vested in the years ended December 31 2020, 2019 and 2018 (in thousands): 2020 2019 2018 Options vested/exercisable: Grant date fair value $ 50 $ 243 $ 259 Aggregate intrinsic value $ 104 $ 361 $ 368
Non-vested restricted share grants	The following table summarizes these non-vested restricted share grants as of December 31, 2020, 2019 and 2018: Number of Restricted Shares Weighted Average Grant Date Fair Value Non-vested at January 1, 2018 521,340 $ 23.82 Granted 228,014 27.79 Vested (204,845) 23.56 Forfeitures (46,198) 25.36 Non-vested at December 31, 2018 498,311 25.60 Granted 360,266 24.14 Vested (206,943) 25.74 Forfeitures (29,357) 24.69 Non-vested at December 31, 2019 622,277 24.75 Granted 3,069 19.55 Vested (261,710) 24.84 Forfeitures (33,786) 25.01 Non-vested at December 31, 2020 329,850 $ 24.60
Share-based Compensation Arrangements by Share-based Payment Award, Restricted Stock Units, Vested and Expected to Vest	The following table summarizes these non-vested restricted share grants as of December 31, 2020: Number of Restricted Stock Units Weighted Average Grant Date Fair Value Non-vested at January 1, 2020 — $ — Granted 462,532 20.85 Vested (8,165) 20.78 Forfeitures (29,054) 19.94 Non-vested at December 31, 2020 425,313 $ 20.91

Quarterly Financial Data (Una_2

Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]
Components of quarterly finacial data	Year Ended December 31, 2020 In thousands, except per share data First Second Third Fourth Revenue $ 551,049 $ 514,719 $ 691,495 $ 754,252 Operating income 460 2,761 10,259 16,017 Net (loss) income (2,933) 951 6,818 10,996 (Loss) earnings per common share: Basic $ (0.11) $ 0.04 $ 0.26 $ 0.42 Diluted $ (0.11) $ 0.04 $ 0.26 $ 0.41 Year Ended December 31, 2019 In thousands, except per share data First Second Third Fourth Quarter Revenue $ 538,083 $ 553,775 $ 561,441 $ 531,677 Operating income 9,103 10,672 9,665 5,076 Net income 3,497 5,067 4,843 1,439 Earnings per common share: Basic $ 0.13 $ 0.19 $ 0.18 $ 0.05 Diluted $ 0.13 $ 0.19 $ 0.18 $ 0.05

Leases, Codification Topic 842

Leases, Codification Topic 842 (Tables)	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Balance Sheet Classification	The balance sheet classification of lease assets and liabilities is as follows (in thousands): December 31, 2020 December 31, 2019 ROU assets: Operating lease assets $ 16,724 $ 19,638 Operating lease liabilities: Current portion in other current liabilities $ 4,004 $ 5,810 Noncurrent operating lease liabilities 27,651 31,475 Total operating lease liabilities $ 31,655 $ 37,285
Lease, Cost	The components of lease expense is as follows (in thousands): December 31, 2020 December 31, 2019 Operating lease expense $ 5,651 $ 5,930 Short-term lease expense 143 261 Total lease expense $ 5,794 $ 6,191 The average lease term and discount rate were as follows: December 31, 2020 December 31, 2019 Weighted average remaining lease term (in years) 6.16 6.85 Weighted average operating discount rate 7.6 % 7.5 %
Lessee, Operating Lease, Liability, Maturity	As of December 31, 2020, maturities of operating lease liabilities were as follows (in thousands): Operating Leases 2021 6,244 2022 6,476 2023 6,137 2024 5,673 2025 5,705 Thereafter 9,925 Total lease payments $ 40,160 Less: imputed interest 8,505 Total operating lease liabilities $ 31,655

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Segment Reporting (Details)	12 Months Ended
	Dec. 31, 2020segment
Accounting Policies [Abstract]
Number of operating segments	1
Number of reportable segments	1

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Accounts Receivable and Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounts receivable and allowance for doubtful accounts:
Duration past due considered delinquent	90 days
Provision, charged to expense	$ 2,881	$ 2,300	$ 2,700
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	4,255
Provision, charged to expense	2,881	2,300	$ 2,700
Write-offs	(3,357)
Recoveries	2,507
Balance at end of period	$ 6,287	$ 4,255
Minimum
Accounts receivable and allowance for doubtful accounts:
Duration invoices require payment	30 days
Maximum
Accounts receivable and allowance for doubtful accounts:
Duration invoices require payment	90 days

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Property and Equipment and Internal Use Software (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property and equipment:
Depreciation	$ 27,500	$ 26,600	$ 23,600
Property and equipment, net of accumulated depreciation of $156,309 and $130,320 at December 31, 2020 and 2019, respectively	53,599	58,620
Capitalized Computer Software, Gross	$ 17,900	16,900
Computer equipment and software
Property and equipment:
Property and equipment, useful life	3 years
Office equipment
Property and equipment:
Property and equipment, useful life	5 years
Furniture and fixtures | Minimum
Property and equipment:
Property and equipment, useful life	5 years
Furniture and fixtures | Maximum
Property and equipment:
Property and equipment, useful life	7 years
Software development
Property and equipment:
Property and equipment, useful life	3 years
Depreciation	$ 19,083	17,886	$ 14,973
Property and equipment, net of accumulated depreciation of $156,309 and $130,320 at December 31, 2020 and 2019, respectively	$ 30,200	$ 31,500

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Goodwill and Other Intangibles (Details)	12 Months Ended
	Dec. 31, 2020
Goodwill and other intangibles:
Weighted-average useful life	14 years 4 months 24 days
Customer relationships
Goodwill and other intangibles:
Weighted-average useful life	14 years 9 months 18 days
Carrier relationships
Goodwill and other intangibles:
Weighted-average useful life	17 years
Non-compete agreements
Goodwill and other intangibles:
Weighted-average useful life	6 years 8 months 12 days
Trade names
Goodwill and other intangibles:
Weighted-average useful life	4 years

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Self-Insurance Liability (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Self-insurance liabilities	$ 1,000	$ 800

New Accounting Pronouncements (

New Accounting Pronouncements (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue	$ 754,252	$ 691,495	$ 514,719	$ 551,049	$ 531,677	$ 561,441	$ 553,775	$ 538,083	$ 2,511,515	$ 2,184,977	$ 2,439,701
Operating lease assets	16,724				19,638				16,724	19,638
Lease, liability	$ 31,655				$ 37,285				$ 31,655	$ 37,285

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	Jul. 06, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Common stock, par value (USD per share)		$ 0.0001	$ 0.0001
Goodwill		$ 309,589	$ 309,589
Goodwill deductible for U.S. income tax purposes	$ 900
Change in contingent consideration due to seller		(447)	$ 1,050	$ 410
Freight Management Plus, Inc.
Business Acquisition [Line Items]
Amount paid at closing	6,700
Purchase price paid with common stock	$ 700
Common stock, par value (USD per share)	$ 0.0001
Potential earn out payment	$ 2,900
Aggregate purchase price	10,500
Goodwill	2,300
Contingent consideration obligation	1,400	300
Customer relationship intangible asset	$ 5,100
Change in contingent consideration due to seller		$ 1,000

Revenue (Details)

Revenue (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disaggregation of Revenue [Line Items]
Cumulative impact of adoption	$ 399,369				$ 383,312				$ 399,369	$ 383,312	$ 389,932	$ 358,872
Revenue	754,252	$ 691,495	$ 514,719	$ 551,049	531,677	$ 561,441	$ 553,775	$ 538,083	2,511,515	2,184,977	2,439,701
Truckload
Disaggregation of Revenue [Line Items]
Revenue									1,757,494	1,437,566	1,686,358
Less than truckload
Disaggregation of Revenue [Line Items]
Revenue									659,358	646,594	638,404
Other revenue
Disaggregation of Revenue [Line Items]
Revenue									94,663	100,817	114,939
Transactional
Disaggregation of Revenue [Line Items]
Revenue									1,936,688	1,684,872	1,915,589
Managed Transportation
Disaggregation of Revenue [Line Items]
Revenue									574,827	500,105	524,112
Retained Earnings
Disaggregation of Revenue [Line Items]
Cumulative impact of adoption	$ 151,780				$ 135,948				$ 151,780	$ 135,948	$ 121,102	91,242
Difference between Revenue Guidance in Effect before and after Topic 606 | Accounting Standards Update 2014-09 | Retained Earnings
Disaggregation of Revenue [Line Items]
Cumulative impact of adoption												$ 1,100

Fair Value Measurement (Details

Fair Value Measurement (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Minimum
Fair value measurement:
Discount rate used to determine fair value	2.00%
Maximum
Fair value measurement:
Discount rate used to determine fair value	3.00%
Level 3
Reconciliation of the beginning and ending balances of the liabilities measured at fair value
Balance at beginning of period	$ (1,707)	$ (2,960)
Change in contingent consideration due to seller	447	(1,050)
Payments of contingent consideration due to seller	953	2,303	$ 900
Balance at end of period	(307)	(1,707)	(2,960)
Level 3 | Selling, general and administrative expenses
Reconciliation of the beginning and ending balances of the liabilities measured at fair value
Change in contingent consideration due to seller	400	(1,100)	$ (400)
Fair Value, Measurements, Recurring | Contingent consideration
Liabilities:
Contingent consideration due to seller	(307)	(1,707)
Fair Value, Measurements, Recurring | Level 1 | Contingent consideration
Liabilities:
Contingent consideration due to seller	0	0
Fair Value, Measurements, Recurring | Level 2 | Contingent consideration
Liabilities:
Contingent consideration due to seller	0	0
Fair Value, Measurements, Recurring | Level 3 | Contingent consideration
Liabilities:
Contingent consideration due to seller	$ (307)	$ (1,707)

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Components of property and equipment:
Property and equipment, gross	$ 209,908	$ 188,940
Less accumulated depreciation	(156,309)	(130,320)
Property and equipment, net	53,599	58,620
Depreciation	27,500	26,600	$ 23,600
Operating lease assets	16,724	19,638
Noncurrent operating lease liabilities	27,651	31,475
Computer equipment
Components of property and equipment:
Property and equipment, gross	28,286	24,950
Software, including internal use software
Components of property and equipment:
Property and equipment, gross	142,624	124,692
Furniture and fixtures
Components of property and equipment:
Property and equipment, gross	9,607	9,678
Leasehold improvements
Components of property and equipment:
Property and equipment, gross	$ 29,391	$ 29,621

Intangibles and Other Assets -

Intangibles and Other Assets - Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 309,589	$ 309,589
Goodwill, Impairment Loss	0
Goodwill, Impaired, Accumulated Impairment Loss	$ 0

Intangibles and Other Assets _2

Intangibles and Other Assets - Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Summary of amortizable intangible assets:
Cost	$ 179,418	$ 179,418
Accumulated amortization	(92,630)	(81,656)
Intangible assets, net	86,788	97,762
Amortization expense	11,000	11,800	$ 13,000
Estimated amortization expense for the next five years and thereafter:
2021	10,362
2022	10,005
2023	9,501
2024	8,897
2025	8,201
Thereafter	39,822
Intangible assets, net	86,788	97,762
Customer relationships
Summary of amortizable intangible assets:
Cost	150,239	150,239
Accumulated amortization	(76,677)	(67,317)
Intangible assets, net	73,562	82,922
Estimated amortization expense for the next five years and thereafter:
Intangible assets, net	73,562	82,922
Carrier relationships
Summary of amortizable intangible assets:
Cost	18,300	18,300
Accumulated amortization	(6,010)	(4,934)
Intangible assets, net	12,290	13,366
Estimated amortization expense for the next five years and thereafter:
Intangible assets, net	12,290	13,366
Non-compete agreements
Summary of amortizable intangible assets:
Cost	5,239	5,239
Accumulated amortization	(4,303)	(3,765)
Intangible assets, net	936	1,474
Estimated amortization expense for the next five years and thereafter:
Intangible assets, net	936	1,474
Trade names
Summary of amortizable intangible assets:
Cost	5,640	5,640
Accumulated amortization	(5,640)	(5,640)
Intangible assets, net	0	0
Estimated amortization expense for the next five years and thereafter:
Intangible assets, net	$ 0	$ 0

Accrued Expenses and Other No_3

Accrued Expenses and Other Noncurrent Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Payables and Accruals [Abstract]
Accrued compensation	$ 39,757	$ 21,192
Accrued rebates	3,196	3,119
Accrued employee benefits	3,077	4,235
Accrued professional service fees	1,512	1,395
Accrued interest	155	881
Other	5,760	4,407
Total accrued expenses	53,458	35,229
Other noncurrent liabilities	511	641
Customer relationships and other intangible assets, accumulated amortization	$ 92,630	$ 81,656

Long-Term Debt - Line of Credit

Long-Term Debt - Line of Credit (Details) - USD ($)	Oct. 23, 2018	Dec. 31, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	May 05, 2015
Line of Credit Facility [Line Items]
Commitment fee and borrowings interest expense			$ 5,990,000	$ 12,639,000	$ 15,546,000
Proceeds from borrowing on ABL facility			180,000,000	35,000,000	12,000,000
ABL facility, outstanding borrowings		$ 0			0
Senior Notes
Line of Credit Facility [Line Items]
Debt issuance cost amortization			236,000	1,021,000	1,266,000
Commitment fee and borrowings interest expense			2,662,000	11,137,000	14,067,000
Stated interest rate						2.50%
ABL Facility
Line of Credit Facility [Line Items]
Debt issuance cost		$ 800,000
Debt term	5 years
Debt issuance cost amortization			100,000	500,000	700,000
Commitment fee and borrowings interest expense			2,900,000	1,100,000	800,000
Remaining borrowing capacity			194,900,000
ABL Facility | Revolving Credit Facility
Line of Credit Facility [Line Items]
Aggregate principal amount	$ 350,000,000
Increase to maximum borrowing capacity	150,000,000
Maximum aggregate principal amount	$ 500,000,000
Commitment fee percentage		0.25%
Proceeds from borrowing on ABL facility			180,000,000	35,000,000	12,000,000
ABL facility, outstanding borrowings		$ 0	135,000,000	$ 0	$ 0
Remaining borrowing capacity			330,700,000
ABL Facility | Revolving Credit Facility | Federal Funds Effective Swap Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.50%
ABL Facility | Revolving Credit Facility | LIBOR
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.00%
ABL Facility | Revolving Credit Facility | Minimum | Federal Funds Effective Swap Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.25%
ABL Facility | Revolving Credit Facility | Minimum | LIBOR
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.25%
ABL Facility | Revolving Credit Facility | Maximum | Federal Funds Effective Swap Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.50%
ABL Facility | Revolving Credit Facility | Maximum | LIBOR
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.50%
ABL Facility | Letter of Credit
Line of Credit Facility [Line Items]
Letters of credit outstanding, amount			$ 700,000

Long-Term Debt - Convertible Se

Long-Term Debt - Convertible Senior Notes (Details) - USD ($)	May 01, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	May 05, 2015
Debt Instrument [Line Items]
Payment of outstanding principal balance		$ 88,961,000	$ 33,915,000	$ 37,217,000
Gain (loss) on extinguishment of debt	$ 0	(200,000)	(700,000)	$ (751,000)
Convertible Debt
Debt Instrument [Line Items]
Payment of outstanding principal balance	69,200,000
Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount		0	158,295,000		$ 230,000,000
Stated interest rate					2.50%
Accrued interest	$ 900,000
Gain (loss) on extinguishment of debt		(166,000)	(711,000)
Debt, repurchased par value		89,100,000	34,300,000
Debt, payment for repurchase		$ 89,000,000	$ 33,900,000

Long-Term Debt - Carrying Amoun

Long-Term Debt - Carrying Amount of Notes (Details) - Senior Notes - USD ($)	Dec. 31, 2020	Dec. 31, 2019	May 05, 2015
Debt Instrument [Line Items]
Convertible senior notes, principal amount	$ 0	$ 158,295,000	$ 230,000,000
Unamortized debt discount	0	(1,667,000)
Unamortized debt issuance costs	0	(330,000)
Convertible senior notes, net	$ 0	$ 156,298,000

Long-Term Debt - Interest Expen

Long-Term Debt - Interest Expense (Details) - USD ($) $ in Thousands	May 01, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Loss on extinguishment of debt	$ 0	$ 200	$ 700	$ 751
Interest expense, Notes		5,990	12,639	15,546
Senior Notes
Debt Instrument [Line Items]
Contractual coupon interest		1,063	4,243	5,647
Debt discount amortization		1,196	5,161	6,403
Loss on extinguishment of debt		166	711
Debt issuance cost amortization		236	1,021	1,266
Interest expense, Notes		$ 2,662	$ 11,137	$ 14,067

Commitments and Contingencies -

Commitments and Contingencies - Tax Assessment (Details) - State Tax Audit - USD ($) $ in Millions	Dec. 31, 2020	Jul. 31, 2016
Loss Contingencies [Line Items]
Amount of assessment including penalties and interest		$ 1.3
Minimum
Loss Contingencies [Line Items]
Estimated additional potential liability	$ 3.5
Maximum
Loss Contingencies [Line Items]
Estimated additional potential liability	$ 4.5

Income Taxes - Unrecognized Tax

Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Increase (Decrease) in unrecognized tax benefits	$ 194	$ 115	$ 44
Changes in unrecognized tax benefits:
Balance at beginning of period	609	498
Increases related to prior year tax positions	92	21
Increases related to current year tax positions	123	90
Decreases based on settlements with taxing authorities	(9)	0
Balance at end of period	815	609	$ 498
Unrecognized tax benefits classified as other noncurrent liabilities	$ 510	$ 640

Income Taxes - Components of In

Income Taxes - Components of Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current:
Federal	$ 4,424	$ 1,628	$ 1,879
State	1,691	621	293
Total current	6,116	2,248	2,172
Deferred:
Federal	1,393	3,214	5,572
State	167	1,570	1,552
Total deferred	1,560	4,783	7,124
Income tax expense	$ 7,675	$ 7,032	$ 9,296
U.S. federal income tax rate	21.00%	21.00%	21.00%

Income Taxes - Income Tax Recon

Income Taxes - Income Tax Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
U.S. federal income tax rate	21.00%	21.00%	21.00%
Reconciliation of effective tax rate:
Tax expense at U.S. federal income tax rate	$ 4,936	$ 4,594	$ 7,984
State income taxes, net of federal income tax effect	1,295	1,179	1,553
Nondeductible expenses and other	883	820	941
Effect of state rate change on deferred items	21	79	0
Research and development credit	(617)	(573)	(420)
Changes in unrecognized tax benefits	194	115	44
Provision to return adjustments	(152)	(185)	(55)
Effective Income Tax Rate Reconciliation, Tax Expense (Benefit), Share-based Payment Arrangement, Amount	1,131	644	(771)
State tax credits	(2,124)	(2,179)	(1,647)
Valuation allowance	2,137	2,552	1,613
Audit settlements	0	16	72
Work opportunity tax credit	(30)	(30)	(18)
Income tax expense	$ 7,675	$ 7,032	$ 9,296

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Noncurrent deferred tax assets:
Reserves and allowances	$ 6,771	$ 3,922
Stock options	2,613	2,540
Net operating loss carryforward	0	16
Credit carryforwards	10,994	8,953
Lease liability	7,487	8,824
Subtotal	27,866	24,255
Valuation allowance	(10,346)	(8,336)
Total noncurrent deferred tax assets	17,519	15,919
Noncurrent deferred tax liabilities:
Prepaid and other expenses	1,103	1,046
Intangible assets	25,514	19,636
Property and equipment	11,242	12,268
Convertible debt	0	398
Section 481(a) adjustment - revenue recognition	742	1,482
Right of use asset	4,123	4,849
Total noncurrent deferred tax liabilities	42,724	39,680
Net deferred tax liability	$ (25,205)	(23,761)
Tax credit carryforward period	5 years
Operating Lease, Liability, Current	$ 4,004	5,810
Noncurrent operating lease liabilities	$ 27,651	$ 31,475

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jul. 31, 2020	Apr. 30, 2019	Nov. 01, 2018	Dec. 31, 2017	May 01, 2017	May 05, 2015
Class of Stock [Line Items]
Preferred stock, shares authorized for issuance	2,500,000
Preferred stock, shares outstanding	0	0	0
Stock repurchase program, authorized amount	$ 60,200,000			$ 50,000,000	$ 50,000,000	$ 50,000,000		$ 50,000,000
Purchases of treasury stock	$ (9,440,000)	$ (29,668,000)	$ (9,752,000)
Treasury stock, shares	5,767,100	5,277,438
Treasury stock, value	$ 118,679,000	$ 109,239,000
Senior Notes
Class of Stock [Line Items]
Debt, repurchased par value	89,100,000	34,300,000
Stated interest rate									2.50%
Debt, payment for repurchase	$ 89,000,000	$ 33,900,000
Treasury Stock
Class of Stock [Line Items]
Purchases of treasury stock (in shares)	(489,662)	(1,329,978)	(420,590)
Purchases of treasury stock	$ (9,440,000)	$ (29,668,000)	$ (9,752,000)
Treasury stock, shares	5,767,100	5,277,438	3,947,460				3,526,870

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jul. 31, 2020	Apr. 30, 2019	Nov. 01, 2018	Dec. 31, 2017	May 01, 2017
Numerator:
Net income	$ 10,996,000	$ 6,818,000	$ 951,000	$ (2,933,000)	$ 1,439,000	$ 4,843,000	$ 5,067,000	$ 3,497,000	$ 15,832,000	$ 14,846,000	$ 28,723,000
Denominator:
Denominator for basic earnings per common share - weighted-average shares (in shares)									25,962,586	26,682,323	27,597,950
Effect of dilutive securities:
Employee stock options (in shares)									390,410	140,665	323,936
Denominator for dilutive earnings per common share (in shares)									26,352,996	26,822,988	27,921,886
Basic earnings per common share (USD per share)	$ 0.42	$ 0.26	$ 0.04	$ (0.11)	$ 0.05	$ 0.18	$ 0.19	$ 0.13	$ 0.61	$ 0.56	$ 1.04
Diluted earnings per common share (USD per share)	$ 0.41	$ 0.26	$ 0.04	$ (0.11)	0.05	$ 0.18	$ 0.19	$ 0.13	$ 0.60	0.55	1.03
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock repurchase program, authorized amount	$ 60,200,000								$ 60,200,000			$ 50,000,000	$ 50,000,000	$ 50,000,000		$ 50,000,000
Restricted stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value	$ 24.60				$ 24.75				$ 24.60	24.75	25.60				$ 23.82
Grant date fair value (USD per share)									$ 19.55	$ 24.14	$ 27.79
Granted (in shares)									3,069	360,266	228,014
Vested (USD per share)									$ 24.84	$ 25.74	$ 23.56
Vested (in shares)									(261,710)	(206,943)	(204,845)
Forfeitures (USD per share)									$ 25.01	$ 24.69	$ 25.36
Forfeitures (in shares)									(33,786)	(29,357)	(46,198)
Shares of stock awarded (in shares)	329,850				622,277				329,850	622,277	498,311				521,340
Restricted Stock Units (RSUs)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value	$ 20.91				$ 0				$ 20.91	$ 0
Grant date fair value (USD per share)									$ 20.85
Granted (in shares)									462,532
Vested (USD per share)									$ 20.78
Vested (in shares)									(8,165)
Forfeitures (USD per share)									$ 19.94
Forfeitures (in shares)									(29,054)
Shares of stock awarded (in shares)	425,313				0				425,313	0
Restricted Stock, Restricted Stock Units, and Performance and Market-Based Shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per common share									44,796
Performance shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per common share										0	0
Restricted stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per common share										5,377	0
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per common share									0	0	0

Stock-Based Compensation Plan_2

Stock-Based Compensation Plans - Narrative (Details)	12 Months Ended
	Dec. 31, 2020USD ($)$ / sharesshares	Dec. 31, 2019USD ($)$ / sharesshares	Dec. 31, 2018USD ($)$ / sharesshares	Dec. 31, 2010stock_typeshares	Dec. 31, 2017shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense | $	$ 11,400,000	$ 10,200,000	$ 9,300,000
Total unrecognized compensation costs related to stock-based compensation | $	$ 12,700,000	12,700,000	11,400,000
Total unrecognized compensation costs related to stock-based compensation, period for recognition	2 years 2 months 23 days
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense | $	$ 4,600,000	$ 6,200,000	$ 5,300,000
Number of shares granted	3,069	360,266	228,014
Grant date fair value (USD per share) | $ / shares	$ 19.55	$ 24.14	$ 27.79
Shares of stock awarded (in shares)	329,850	622,277	498,311		521,340
Compensation expense, tax benefits | $	$ 1,100,000	$ 1,500,000	$ 1,300,000
Restricted stock | Vesting Ratably, One Year
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year	1 year	1 year
Number of shares granted		33,042	21,197
Restricted stock | Vesting Ratably, Three Years
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		3 years
Number of shares granted		1,793	887
Restricted stock | Vesting Ratably, Four Years
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years	4 years
Number of shares granted		325,431	205,930
Restricted stock | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date fair value (USD per share) | $ / shares	$ 19.55	$ 19.25	$ 27.55
Grant date fair value (USD per share) | $ / shares	16.88
Restricted stock | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date fair value (USD per share) | $ / shares		$ 29.50	$ 36.65
Grant date fair value (USD per share) | $ / shares	$ 29.16
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense | $	$ 0	$ 0	$ 0
Compensation expense, tax benefits | $	0	$ 0	$ 0
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense | $	$ 3,700,000
Number of shares granted	462,532
Grant date fair value (USD per share) | $ / shares	$ 20.85
Shares of stock awarded (in shares)	425,313	0
Compensation expense, tax benefits | $	$ 900,000
Restricted Stock Units (RSUs) | Vesting Ratably, One Year
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of stock awarded (in shares)	32,525
Restricted Stock Units (RSUs) | Vesting Ratably, Three Years
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of stock awarded (in shares)	153,774
Restricted Stock Units (RSUs) | Vesting Ratably, Four Years
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of stock awarded (in shares)	276,233
2008 Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for grant				3,400,000
Number of award types issued | stock_type				4
2008 Stock Incentive Plan | Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum term				10 years
2008 Stock Incentive Plan | Stock options | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period				1 year
2008 Stock Incentive Plan | Stock options | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period				5 years

Stock-Based Compensation Plan_3

Stock-Based Compensation Plans - Stock Option Awards (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 11,400,000	$ 10,200,000	$ 9,300,000
Options, outstanding:
Options, outstanding, beginning of period (in shares)	43,589	46,589	431,331
Options, outstanding, grants in period (in shares)	0	0	0
Options, outstanding, exercises in period (in shares)	(35,200)	(3,000)	(384,092)
Options, outstanding, forfeited or canceled in period (in shares)	0	0	(650)
Options, outstanding, end of period (in shares)	8,389	43,589	46,589	431,331
Options vested and exercisable at end of period (in shares)	8,389
Options, weighted-average exercise price:
Options, outstanding, weighted average exercise price, beginning of period (USD per share)	$ 12.43	$ 12.42	$ 11.16
Options, grants in period, weighted average exercise price (USD per share)	0	0	0
Options, exercises in period, weighted average exercise price (USD per share)	11.95	12.38	11.01
Options, forfeited or canceled in period, weighted average exercise price (USD per share)	0	0	11.06
Options, outstanding, weighted average exercise price, end of period (USD per share)	14.42	$ 12.43	$ 12.42	$ 11.16
Options vested and exercisable at end of period (USD per share)	$ 14.42
Options, additional disclosures:
Options, oustanding, weighted average remaining contractual term	4 months 24 days	1 year	2 years	2 years 3 months 18 days
Options, exercisable, weighted average remaining contractual term	4 months 24 days
Options, oustanding, aggregate intrinsic value	$ 104,000	$ 361,000	$ 368,000	$ 7,262,000
Options, exercises in period, aggregate intrinsic value	228,000	36,000	7,025,000
Options, exercisable, aggregate intrinsic value	104,000	361,000	368,000
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	4,600,000	6,200,000	5,300,000
Compensation expense, tax benefits	1,100,000	1,500,000	1,300,000
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	0	0	0
Compensation expense, tax benefits	$ 0	$ 0	$ 0

Stock-Based Compensation Plan_4

Stock-Based Compensation Plans - Stock Options Granted and Vested (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Payment Arrangement [Abstract]
Grant date fair value	$ 50	$ 243	$ 259
Aggregate intrinsic value	$ 104	$ 361	$ 368
Share price (USD per share)	$ 26.82	$ 20.70	$ 20.33

Stock-Based Compensation Plan_5

Stock-Based Compensation Plans - Restricted Stock Awards (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Weighted Average Grant Date Fair Value
Stock-based compensation expense	$ 11.4	$ 10.2	$ 9.3
Restricted stock
Number of Restricted Shares
Non-vested at beginning of period (in shares)	622,277	498,311	521,340
Granted (in shares)	3,069	360,266	228,014
Vested (in shares)	(261,710)	(206,943)	(204,845)
Forfeitures (in shares)	(33,786)	(29,357)	(46,198)
Non-vested at end of period (in shares)	329,850	622,277	498,311
Weighted Average Grant Date Fair Value
Non-vested at beginning of period (USD per share)	$ 24.75	$ 25.60	$ 23.82
Granted (USD per share)	19.55	24.14	27.79
Vested (USD per share)	24.84	25.74	23.56
Forfeitures (USD per share)	25.01	24.69	25.36
Non-vested at end of period (USD per share)	$ 24.60	$ 24.75	$ 25.60
Stock-based compensation expense	$ 4.6	$ 6.2	$ 5.3
Compensation expense, tax benefits	$ 1.1	$ 1.5	$ 1.3
Restricted Stock Units (RSUs)
Number of Restricted Shares
Non-vested at beginning of period (in shares)	0
Granted (in shares)	462,532
Vested (in shares)	(8,165)
Forfeitures (in shares)	(29,054)
Non-vested at end of period (in shares)	425,313	0
Weighted Average Grant Date Fair Value
Non-vested at beginning of period (USD per share)	$ 0
Granted (USD per share)	20.85
Vested (USD per share)	20.78
Forfeitures (USD per share)	19.94
Non-vested at end of period (USD per share)	$ 20.91	$ 0
Stock-based compensation expense	$ 3.7
Compensation expense, tax benefits	$ 0.9

Stock-Based Compensation Plan_6

Stock-Based Compensation Plans - Performance Based Shares (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 11.4	$ 10.2	$ 9.3
Performance shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted	19,545	20,722	19,598
Grant date fair value (USD per share)	$ 20.33	$ 28.05	$ 25.35
Stock-based compensation expense	$ 0.4	$ 0.5	$ 0.2
Compensation expense, tax benefits	$ 0.1	$ 0.1	$ 0.1

Stock-Based Compensation Plan_7

Stock-Based Compensation Plans - Performance and Market Based Stock (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 11.4	$ 10.2	$ 9.3
Performance and Market Based Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted	139,191	105,543	97,966
Grant date fair value (USD per share)	$ 29.84	$ 34.54	$ 35.41
Stock-based compensation expense	$ 2.7	$ 3.5	$ 3
Compensation expense, tax benefits	$ 0.7	$ 0.9	$ 0.7

Restricted Stock Unit Awards (D

Restricted Stock Unit Awards (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Payment Arrangement [Abstract]
Stock-based compensation expense	$ 11.4	$ 10.2	$ 9.3
Restricted Stock Units (RSUs)
Share-based Payment Arrangement [Abstract]
Compensation expense, tax benefits	0.9
Stock-based compensation expense	$ 3.7
Shares of stock awarded (in shares)	425,313	0
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of stock awarded (in shares)	425,313	0

Benefit Plans (Details)

Benefit Plans (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)
Retirement Benefits [Abstract]
Discretionary contribution amount	$ 2

Significant Customer Concentr_2

Significant Customer Concentration (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Risks and Uncertainties [Abstract]
Concentration Risk, Customer	10	10	10

Quarterly Financial Data (Una_3

Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Revenue	$ 754,252	$ 691,495	$ 514,719	$ 551,049	$ 531,677	$ 561,441	$ 553,775	$ 538,083	$ 2,511,515	$ 2,184,977	$ 2,439,701
Operating income (loss)	16,017	10,259	2,761	460	5,076	9,665	10,672	9,103	29,497	34,517	53,566
Net income (loss)	$ 10,996	$ 6,818	$ 951	$ (2,933)	$ 1,439	$ 4,843	$ 5,067	$ 3,497	$ 15,832	$ 14,846	$ 28,723
Earnings (Loss) per common share:
Basic (USD per share)	$ 0.42	$ 0.26	$ 0.04	$ (0.11)	$ 0.05	$ 0.18	$ 0.19	$ 0.13	$ 0.61	$ 0.56	$ 1.04
Diluted (USD per share)	$ 0.41	$ 0.26	$ 0.04	$ (0.11)	$ 0.05	$ 0.18	$ 0.19	$ 0.13	$ 0.60	$ 0.55	$ 1.03

Related Parties (Details)

Related Parties (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Related Parties [Abstract]
Related Party Transaction, Purchases from Related Party	$ 0	$ 0	$ 0

Leases - Balance Sheet Classifi

Leases - Balance Sheet Classification (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
ROU assets, Operating lease assets	$ 16,724	$ 19,638
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesCurrent	us-gaap:OtherLiabilitiesCurrent
Operating lease liabilities, Current portion in other current liabilities	$ 4,004	$ 5,810
Operating lease liabilities, Noncurrent operating lease liabilities	27,651	31,475
Total operating lease liabilities	31,655	37,285
Operating lease expense	5,651	5,930
Short-term lease expense	143	261
Lease, Cost	$ 5,794	$ 6,191
Weighted average remaining lease term (in years)	6 years 1 month 28 days	6 years 10 months 6 days
Weighted average operating discount rate	7.60%	7.50%

Leases - Lease Cost (Details)

Leases - Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Leases [Abstract]
Operating lease expense	$ 5,651	$ 5,930
Short-term lease expense	143	261
Total lease expense	$ 5,794	$ 6,191
Total rental expense			$ 6,000

Leases - Narrative (Details)

Leases - Narrative (Details) ft² in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)ft²property	Dec. 31, 2019USD ($)
Lessee, Lease, Description [Line Items]
Payments for operating leases	$ 8.4	$ 8.6
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 0.2	$ 2.1
Chicago, Illinois Headquarters
Lessee, Lease, Description [Line Items]
Area leased (in sq ft) | ft²	225
Branch Offices
Lessee, Lease, Description [Line Items]
Number of properties leased | property	30
Branch Offices | Minimum
Lessee, Lease, Description [Line Items]
Lease term	2 years
Branch Offices | Maximum
Lessee, Lease, Description [Line Items]
Lease term	11 years

Leases - Average Lease Term and

Leases - Average Lease Term and Discount Rate (Details)	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Weighted average remaining lease term (in years)	6 years 1 month 28 days	6 years 10 months 6 days
Weighted average operating discount rate	7.60%	7.50%

Leases - Maturities of Operatin

Leases - Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
2021	$ 6,244
2022	6,476
2023	6,137
2024	5,673
2025	5,705
Thereafter	9,925
Total lease payments	40,160
Less: imputed interest	8,505
Total operating lease liabilities	$ 31,655	$ 37,285

Schedule II - Valuation and Q_2

Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Movement in Valuation Allowances:
Provision, charged to expense	$ 2,881	$ 2,300	$ 2,700
Allowance for doubtful accounts
Movement in Valuation Allowances:
Balance at beginning of year	4,255	4,618	3,745
Provision, charged to expense	2,881	2,333	2,654
Write-offs, less recoveries	(850)	(2,696)	(1,781)
Balance at end of year	6,287	4,255	4,618
Deferred tax assets - valuation allowance
Movement in Valuation Allowances:
Balance at beginning of year	8,336	5,241	3,627
Adjustments	2,112	3,095	1,613
Balance at end of year	$ 10,448	$ 8,336	$ 5,241