Echo Global Logistics 10-Q 29 Jul 21 2021 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2021	Jul. 28, 2021
Document and Entity Information [Abstract]
Document Transition Report	false
Document Quarterly Report	true
Title of 12(b) Security	Common stock, par value $0.0001 per share
Entity Incorporation, State or Country Code	DE
Trading Symbol	ECHO
Entity Registrant Name	ECHO GLOBAL LOGISTICS, INC.
Entity Central Index Key	0001426945
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2021
Entity File Number	001-34470
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		26,629,364
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Tax Identification Number	20-5001120
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
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

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Statement [Abstract]
Revenue	$ 934,524	$ 514,719	$ 1,735,326	$ 1,065,768
Costs and expenses:
Transportation costs	798,474	426,674	1,479,247	887,815
Selling, general and administrative expenses	102,714	75,481	199,596	155,135
Depreciation and amortization	8,697	9,804	17,386	19,596
Income from operations	24,639	2,761	39,098	3,222
Interest expense	(716)	(1,398)	(1,433)	(4,186)
Income (Loss) before provision for income taxes	23,923	1,363	37,665	(965)
Income tax expense	(5,556)	(412)	(9,102)	(1,017)
Net income (loss)	$ 18,367	$ 951	$ 28,564	$ (1,981)
Earnings (Loss) per common share:
Basic (in usd per share)	$ 0.70	$ 0.04	$ 1.09	$ (0.08)
Diluted (in usd per share)	$ 0.69	$ 0.04	$ 1.07	$ (0.08)

Consolidated Statements of Op_2

Consolidated Statements of Operations (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Software Development
Depreciation	$ 3,899	$ 4,966	$ 7,762	$ 9,695

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 63,926	$ 41,297
Accounts receivable, net of allowance for doubtful accounts of $6,534 and $6,287 at June 30, 2021 and December 31, 2020, respectively	546,197	439,391
Prepaid expenses	9,578	9,322
Other current assets	3,455	3,465
Total current assets	623,156	493,475
Noncurrent assets:
Property and equipment, net of accumulated depreciation of $168,482 and $156,309 at June 30, 2021 and December 31, 2020, respectively	55,855	53,599
Goodwill	309,589	309,589
Intangible assets, net of accumulated amortization of $97,843 and $92,630 at June 30, 2021 and December 31, 2020, respectively	81,575	86,788
Operating lease assets	16,272	16,724
Other noncurrent assets	3,288	3,768
Total noncurrent assets	466,580	470,469
Total assets	1,089,736	963,944
Current liabilities:
Accounts payable	417,308	317,692
Due to seller, current	953	307
Accrued expenses	60,016	53,458
Other current liabilities	4,737	4,004
Income taxes payable	2,341	1,675
Total current liabilities	485,355	377,135
Noncurrent liabilities:
Long-term debt, net	119,171	133,945
Other noncurrent liabilities	518	511
Deferred income taxes	26,258	25,333
Noncurrent operating lease liabilities	26,100	27,651
Total noncurrent liabilities	172,047	187,440
Total liabilities	657,402	564,575
Stockholders' equity:
Common stock, par value $0.0001 per share, 100,000,000 shares authorized, 31,949,853 shares issued and 26,182,753 shares outstanding at June 30, 2021; 31,731,798 shares issued and 25,964,698 shares outstanding at December 31, 2020	3	3
Treasury stock, 5,767,100 and 5,767,100 shares at June 30, 2021 and December 31, 2020, respectively	(118,679)	(118,679)
Additional paid-in capital	370,666	366,265
Retained earnings	180,344	151,780
Total stockholders' equity	432,334	399,369
Total liabilities and stockholders' equity	$ 1,089,736	$ 963,944

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Current assets:
Accounts receivable, allowance for doubtful accounts	$ 6,534	$ 6,287
Noncurrent assets:
Property and equipment, accumulated depreciation	168,482	156,309
Customer relationships and other intangible assets, accumulated amortization	$ 97,843	$ 92,630
Stockholders' equity:
Common stock, par value (in usd per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	31,949,853	31,731,798
Common stock, shares outstanding (in shares)	26,182,753	25,964,698
Treasury stock, shares (in shares)	5,767,100	5,767,100

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Operating activities
Net income (loss)	$ 28,564	$ (1,981)
Adjustments to reconcile net income to net cash provided by operating activities:
Deferred income taxes	926	291
Noncash stock compensation expense	7,385	6,927
Noncash interest expense	0	1,711
Change in contingent consideration due to seller	647	(46)
Depreciation and amortization	17,386	19,596
Change in assets:
Accounts receivable	(106,806)	(17,876)
Income taxes receivable	0	675
Prepaid expenses and other assets	459	2,166
Change in liabilities:
Accounts payable	99,123	26,121
Income taxes payable	673	0
Accrued expenses and other liabilities	5,980	(1,822)
Net cash provided by operating activities	54,336	35,760
Investing activities
Purchases of property and equipment	(13,724)	(10,184)
Net cash used in investing activities	(13,724)	(10,184)
Financing activities
Proceeds from exercise of stock options	121	381
Employee tax withholdings related to net share settlements of equity-based awards	(3,105)	(1,592)
Purchases of treasury stock	0	(10,349)
Purchases of Convertible Notes	0	(88,961)
Settlement of Convertible Notes	0	(69,242)
Proceeds from borrowing on ABL facility	0	170,000
Repayments of amounts borrowing on ABL facility	(15,000)	(25,000)
Net cash used in financing activities	(17,984)	(24,763)
Increase in cash and cash equivalents	22,628	813
Cash and cash equivalents, beginning of period	41,297	34,626
Cash and cash equivalents, end of period	63,926	35,438
Supplemental disclosure of cash flow information:
Cash paid during the period for interest	1,202	3,020
Cash paid during the period for income taxes	7,527	49
Cash received during the period for income taxes refunded	$ (25)	$ 0

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Treasury Stock	Additional Paid-In Capital	Retained Earnings
Stockholders' equity at beginning of period at Dec. 31, 2019	$ 383,312	$ 3	$ (109,239)	$ 356,600	$ 135,948
Shares at beginning of period (in shares) at Dec. 31, 2019		31,507,247	(5,277,438)
Increase in stockholders' equity:
Share compensation expense	4,608			4,608
Exercise of stock options	381	$ 0		381
Exercise of stock options (in shares)		32,000
Common stock issued for vested restricted stock and restricted stock units	0	$ 0		0
Common stock issued for vested restricted stock (in shares)		247,224
Common shares withheld and retired to satisfy employee tax withholding obligations upon vesting of restricted stock and restricted stock units	(1,541)	$ 0		(1,541)
Common shares withheld and retired to satisfy employee tax withholding obligations upon vesting of restricted stock (in shares)		(82,802)
Repurchase of convertible notes, net of deferred taxes	(190)			(190)
Purchases of treasury stock	(9,440)		$ (9,440)
Purchase of treasury stock (in shares)			(489,662)
Net income	(2,933)				(2,933)
Stockholders' equity at end of period at Mar. 31, 2020	374,197	$ 3	$ (118,679)	359,857	133,015
Shares at end of period (in shares) at Mar. 31, 2020		31,703,669	(5,767,100)
Stockholders' equity at beginning of period at Dec. 31, 2019	383,312	$ 3	$ (109,239)	356,600	135,948
Shares at beginning of period (in shares) at Dec. 31, 2019		31,507,247	(5,277,438)
Increase in stockholders' equity:
Net income	(1,981)
Stockholders' equity at end of period at Jun. 30, 2020	377,417	$ 3	$ (118,679)	362,126	133,967
Shares at end of period (in shares) at Jun. 30, 2020		31,709,190	(5,767,100)
Stockholders' equity at beginning of period at Mar. 31, 2020	374,197	$ 3	$ (118,679)	359,857	133,015
Shares at beginning of period (in shares) at Mar. 31, 2020		31,703,669	(5,767,100)
Increase in stockholders' equity:
Share compensation expense	2,319			2,319
Common stock issued for vested restricted stock and restricted stock units	0	$ 0		0
Common stock issued for vested restricted stock (in shares)		8,105
Common shares withheld and retired to satisfy employee tax withholding obligations upon vesting of restricted stock and restricted stock units	(51)	$ 0		(51)
Common shares withheld and retired to satisfy employee tax withholding obligations upon vesting of restricted stock (in shares)		(2,584)
Net income	951				951
Stockholders' equity at end of period at Jun. 30, 2020	377,417	$ 3	$ (118,679)	362,126	133,967
Shares at end of period (in shares) at Jun. 30, 2020		31,709,190	(5,767,100)
Stockholders' equity at beginning of period at Dec. 31, 2020	399,369	$ 3	$ (118,679)	366,265	151,780
Shares at beginning of period (in shares) at Dec. 31, 2020		31,731,798	(5,767,100)
Increase in stockholders' equity:
Share compensation expense	5,045			5,045
Exercise of stock options	121	$ 0		121
Exercise of stock options (in shares)		8,389
Common stock issued for vested restricted stock and restricted stock units	0	$ 0		0
Common stock issued for vested restricted stock (in shares)		271,084
Common stock issued for vested performance shares	0	$ 0		0
Common stock issued for vested performance shares (in shares)		37,188
Common shares withheld and retired to satisfy employee tax withholding obligations upon vesting of restricted stock and restricted stock units	(3,031)	$ 0		(3,031)
Common shares withheld and retired to satisfy employee tax withholding obligations upon vesting of restricted stock (in shares)		(102,520)
Net income	10,196				10,196
Stockholders' equity at end of period at Mar. 31, 2021	411,701	$ 3	$ (118,679)	368,400	161,976
Shares at end of period (in shares) at Mar. 31, 2021		31,945,939	(5,767,100)
Stockholders' equity at beginning of period at Dec. 31, 2020	399,369	$ 3	$ (118,679)	366,265	151,780
Shares at beginning of period (in shares) at Dec. 31, 2020		31,731,798	(5,767,100)
Increase in stockholders' equity:
Net income	28,564
Stockholders' equity at end of period at Jun. 30, 2021	432,334	$ 3	$ (118,679)	370,666	180,344
Shares at end of period (in shares) at Jun. 30, 2021		31,949,853	(5,767,100)
Stockholders' equity at beginning of period at Mar. 31, 2021	411,701	$ 3	$ (118,679)	368,400	161,976
Shares at beginning of period (in shares) at Mar. 31, 2021		31,945,939	(5,767,100)
Increase in stockholders' equity:
Share compensation expense	2,340			2,340
Common stock issued for vested restricted stock and restricted stock units	0	$ 0		0
Common stock issued for vested restricted stock (in shares)		6,084
Common shares withheld and retired to satisfy employee tax withholding obligations upon vesting of restricted stock and restricted stock units	(73)	$ 0		(73)
Common shares withheld and retired to satisfy employee tax withholding obligations upon vesting of restricted stock (in shares)		(2,170)
Net income	18,367				18,367
Stockholders' equity at end of period at Jun. 30, 2021	$ 432,334	$ 3	$ (118,679)	$ 370,666	$ 180,344
Shares at end of period (in shares) at Jun. 30, 2021		31,949,853	(5,767,100)

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2021
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" or "Echo"). 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. The preparation of the consolidated financial statements is in conformity with the rules and regulations of the Securities and Exchange Commission ("SEC") and accounting principles generally accepted in the United States ("U.S. GAAP") for interim financial information. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules or regulations. In the opinion of management, the accompanying unaudited financial statements reflect all adjustments considered necessary for a fair presentation of the results for the period and those adjustments are of a normal recurring nature. The operating results for the six months ended June 30, 2021 are not necessarily indicative of the results expected for the full year 2021. These interim consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company's audited financial statements for the year ended December 31, 2020. Preparation of Financial Statements and Use of Estimates

Recent Accounting Pronouncement

Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2021
Accounting Standards Update and Change in Accounting Principle [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently adopted accounting pronouncements In October 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2020-10, Codification Improvements. These amendments improve consistency by amending the codification to include all disclosure guidance in the appropriate disclosure sections and clarify application of various provisions in the codification by amending and adding new heading, cross referencing to other guidance and refining or correcting terminology. The effective date of this ASU was for fiscal years and interim periods beginning after December 15, 2020. The Company adopted this ASU effective January 1, 2021 and did not have a material impact on the Financial Statements. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. This ASU clarifies and simplifies accounting for income taxes by eliminating certain exceptions for intraperiod tax allocation principles, the methodology for calculating income tax rates in an interim period, and accounting for franchise taxes, among other updates. The effective date of this ASU was for fiscal years and interim periods beginning after December 15, 2020. The Company adopted this ASU effective January 1, 2021 and did not have a material impact on the Financial Statements. Recently issued accounting pronouncements not yet adopted I n May 2021, the FASB issued ASU 2021-04, Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options. This guidance clarifies and reduces diversity in an issuer’s accounting for modifications or exchanges of freestanding equity-classified written call options due to a lack of explicit guidance in the FASB Codification. The guidance is effective for interim and annual periods beginning after December 15, 2021. Early adoption is permitted. The guidance is to be applied prospectively to modifications or exchanges occurring on or after the effective date. 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.

Revenue

Revenue	6 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue	Revenue 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 are typically the performance obligation for the Company's Managed Transportation clients. For this performance obligation, revenue is recognized on a gross basis 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): Three Months Ended June 30, Six Months Ended June 30, Client Type 2021 2020 2021 2020 Transactional $ 716,855 $ 396,794 $ 1,333,812 $ 825,168 Managed Transportation 217,669 117,925 401,514 240,600 Revenue $ 934,524 $ 514,719 $ 1,735,326 $ 1,065,768 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): Three Months Ended June 30, Six Months Ended June 30, Mode 2021 2020 2021 2020 Truckload $ 686,957 $ 352,192 $ 1,262,893 $ 719,972 Less than truckload 217,593 141,557 408,027 299,502 Other revenue 29,974 20,971 64,406 46,294 Revenue $ 934,524 $ 514,719 $ 1,735,326 $ 1,065,768 Note: Amounts may not foot due to rounding. Commissions The Company recognizes commission expense when incurred because the amortization period is less than one year. Commission expense is recognized on a relative transit time basis, which aligns with the Company's revenue recognition policy. 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.

Fair Value Measurement

Fair Value Measurement	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurement	Fair Value Measurement The Company applies ASC Topic 820, Fair Value Measurements and Disclosures ("ASC Topic 820"), 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 due to seller liabilities at June 30, 2021 and December 31, 2020 is $1.0 million and $0.3 million, respectively. The potential earn-out payments and performance periods are defined in the individual purchase agreements for each acquisition. Earnings before interest, taxes, depreciation and amortization ("EBITDA") is the performance target defined and measured to determine the 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 from 2% to 3%. Hist orical results of the respective acquisitions serve as the basis for 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 June 30, 2021 and December 31, 2020 (in thousands): Fair Value Measurements as of June 30, 2021 Total Level 1 Level 2 Level 3 Liabilities: Contingent consideration due to seller $ (953) — — $ (953) Fair Value Measurements as of December 31, 2020 Total Level 1 Level 2 Level 3 Liabilities: Contingent consideration due to seller $ (307) — — $ (307) 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 December 31, 2020 $ (307) Change in fair value of contingent consideration due to seller (647) Balance at June 30, 2021 $ (953) Note: Amounts may not foot due to rounding. For the three months ended June 30, 2021 and 2020, the Company incurred expense of $534 thousand and recognized an income of $76 thousand, respectively, which were recorded in selling, general and administrative expenses on the consolidated statements of operations. For the six months ended June 30, 2021 and 2020, the Company incurred expense of $647 thousand and recognized an income of $46 thousand, respectively, which were recorded in selling, general and administrative expenses on the consolidated statements of operations. These changes in fair value resulted from using revised forecasts that took into account the most recent performance of each acquired business. During the six months ended June 30, 2021 and 2020, the Company did not make any contingent earn-out payments.

Intangibles and Goodwill

Intangibles and Goodwill	6 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Intangibles and Goodwill	Intangibles and GoodwillThe balance of goodwill was $309.6 million as of June 30, 2021 and December 31, 2020, as no changes occurred during the period. The Company has no accumulated impairment losses as of June 30, 2021. The following is a summary of amortizable intangible assets as of June 30, 2021 and December 31, 2020 (in thousands): June 30, 2021 December 31, 2020 Cost Accumulated Amortization Net Cost Accumulated Amortization Net Customer relationships $ 150,239 $ (81,158) $ 69,081 $ 150,239 $ (76,677) $ 73,562 Carrier relationships 18,300 (6,549) 11,751 18,300 (6,010) 12,290 Non-compete agreements 5,239 (4,496) 743 5,239 (4,303) 936 Trade names 5,640 (5,640) — 5,640 (5,640) — $ 179,418 $ (97,843) $ 81,575 $ 179,418 $ (92,630) $ 86,788 Note: Amounts may not foot due to rounding. The customer relationships are being amortized using an accelerated method over their estimated weighted-average useful life of 14.8 years, as an accelerated method best approximates the distribution of cash flows generated by the acquired customer relationships. The carrier relationships, non-compete agreements and trade names are being amortized using the straight-line method over their estimated weighted-average useful lives of 17.0 years, 6.7 years and 4.0 years, respectively. Amortization expense related to intangible assets was $2.6 million and $2.8 million for the three months ended June 30, 2021 and 2020, respectively. Amortization expense was $5.2 million and $5.6 million for the six months ended June 30, 2021 and 2020, respectively. The estimated amortization expense for the next five years and thereafter is as follows (in thousands): Remainder of 2021 $ 5,149 2022 10,005 2023 9,501 2024 8,897 2025 8,201 Thereafter 39,822 Total $ 81,575

Accrued Expenses and Other Nonc

Accrued Expenses and Other Noncurrent Liabilities	6 Months Ended
	Jun. 30, 2021
Payables and Accruals [Abstract]
Accrued Expenses and Other Noncurrent Liabilities	Accrued Expenses and Other Liabilities The components of accrued expenses at June 30, 2021 and December 31, 2020 were as follows (in thousands): June 30, 2021 December 31, 2020 Accrued compensation $ 44,249 $ 39,757 Accrued rebates 3,975 3,196 Accrued employee benefits 3,561 3,077 Accrued professional service fees 1,061 1,512 Accrued interest 160 155 Other 7,010 5,760 Total accrued expenses $ 60,016 $ 53,458 Note: Amounts may not foot due to rounding.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The following table shows the Company's effective income tax rate for the three and six months ended June 30, 2021 and 2020 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Income before provision for income taxes $ 23,923 $ 1,363 $ 37,665 $ (965) Income tax expense $ (5,556) $ (412) $ (9,102) $ (1,017) Effective tax rate 23.2 % 30.2 % 24.2 % (105.4) %

Earnings (Loss) Per Share

Earnings (Loss) Per Share	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Earnings (Loss) Per Share	Earnings (Loss) Per Share Basic earnings (loss) per common share is calculated by dividing net income by the weighted average number of common shares outstanding. Diluted earnings (loss) per common share is calculated by dividing net income (loss) by the weighted average shares outstanding plus share equivalents that would arise from the exercise of share options, and the vesting of restricted stock, restricted stock units and performance shares. The computation of basic and diluted earnings (loss) per common share for the three and six months ended June 30, 2021 and 2020 is as follows (in thousands, except share and per share data): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Numerator: Net income (loss) $ 18,367 $ 951 $ 28,564 $ (1,981) Denominator: Denominator for basic earnings per common share - weighted-average shares 26,180,161 25,938,813 26,110,376 25,972,729 Effect of dilutive securities: Employee stock awards 495,028 278,943 539,007 — Denominator for dilutive earnings per common share 26,675,189 26,217,756 26,649,383 25,972,729 Basic earnings (loss) per common share $ 0.70 $ 0.04 $ 1.09 $ (0.08) Diluted earnings (loss) per common share $ 0.69 $ 0.04 $ 1.07 $ (0.08) For the three and six months ended June 30, 2021, the Company excluded in the aggregate 43,784 and 56,121 unvested restricted stock units, and performance and market-based shares, respectively, from the calculation of diluted earnings per common share because the effect was anti-dilutive. There were no employee stock options and no unvested restricted stock excluded from the calculation of diluted earnings per common share.

Stock-Based Compensation Plans

Stock-Based Compensation Plans	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation Plans	Stock-Based Compensation Plans The Company recorded $2.3 million and $7.4 million in total stock-based compensation expense with corresponding income tax benefits of $0.6 million and $1.8 million for the three and six months ended June 30, 2021, respectively. For the three and six months ended June 30, 2020, the Company recorded $2.3 million and $6.9 million in total stock-based compensation expense with corresponding income tax benefits of $0.6 million and $1.7 million, respectively. During each of the six months ended June 30, 2021 and 2020, the Company did not grant any stock options. The Company did not grant any shares of restricted stock during the six months ended June 30, 2021. There were 3,069 shares of restricted stock granted to various employees during the six months ended June 30, 2020. The Company granted 302,417 and 378,813 restricted stock units to various employees during the six months ended June 30, 2021 and 2020, respectively.

Contingencies

Contingencies	6 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
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. In June 2021, the Company received an unfavorable ruling from the state’s lowest court. 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 $5.0 million, including potential penalties and interest. The Company has not recorded any potential loss related to this matter as of June 30, 2021. The Company has received a letter alleging the Company violated both federal and state labor laws in classifying certain employees as exempt and threatening to bring a class action lawsuit against the Company regarding this allegation. In March 2021, a class action lawsuit was formally filed against the Company in this matter. The Company disputes the claims and intends to vigorously defend the matter. Given the preliminary stage of the matter, the Company cannot estimate the reasonable possibility or range of loss, if any, that may result from this matter and therefore no accrual has been made as of June 30, 2021.

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Asset Based Lending ("ABL") Facility On October 23, 2018, the Company entered into Amendment No. 2 to its Revolving Credit and Security Agreement (the "Second Amendment"), which amends 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 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) excess availability falls below certain specified levels. The Company incurred issuance costs of $0.8 million in 2018 related to the Amended ABL Facility. In 2015, the Company incurred issuance costs of $3.1 million related to the 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 Amended ABL Facility, the unamortized issuance costs are presented as a deferred asset on the consolidated balance sheet. For the three months ended June 30, 2021 and 2020, the Company recorded $0.1 million of interest expense related to Amended ABL Facility issuance costs. For the six months ended June 30, 2021 and 2020, the Company recorded $0.2 million of interest expense related to Amended ABL Facility issuance costs. 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 Amended ABL Facility of $0.6 million and $0.9 million for the three months ended June 30, 2021 and 2020, respectively. The Company recognized interest expense related to the commitment fee and borrowings on the Amended ABL Facility of $1.2 million and $1.3 million for the six months ended June 30, 2021 and 2020, respectively. During 2020, the Company drew a total of $180.0 million on the Amended ABL Facility, primarily to repay in full the existing 2.50% convertible senior notes due 2020 (the "Notes"), of which $120.0 million is outstanding as of June 30, 2021, excluding the debt issuance cost of $0.8 million. For the six months ended June 30, 2021, the Company repaid $15.0 million on the Amended ABL Facility. The Company drew $170.0 million on the Amended ABL Facility during the six months ended June 30, 2020, primarily to repay the existing Notes, of which $145.0 million was outstanding as of June 30, 2020. As there is an outstanding amount drawn on the Amended ABL Facility as of June 30, 2021 and 2020, the unamortized issuance costs are presented as a reduction to the carrying amount of the debt on the consolidated balance sheet. Since June 1, 2015, the Company has been in compliance with all covenants related to the Amended ABL Facility. The issuance of letters of credit under the Amended ABL Facility reduces available borrowings. As of June 30, 2021, there were $0.8 million of letters of credit outstanding. The total draw allowed on the Amended ABL Facility at June 30, 2021, as determined by the working capital assets pledged as collateral, was $350.0 million. After adjusting for the letters of credit and the amount outstanding on the Amended ABL Facility, the Company's remaining availability under the Amended ABL Facility at June 30, 2021 was $229.2 million. Convertible Senior Notes On May 1, 2020, the Company paid the remaining outstanding principal balance of the Notes $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, resulting in the recognition of a loss of $0.2 million during the six months ended June 30, 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 consolidated statements of operations. For the three and six months ended June 30, 2021 and 2020, interest expense related to the Notes consisted of the following (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Contractual coupon interest $ — $ 144 $ — $ 1,063 Debt discount amortization — 184 — 1,196 Loss on extinguishment of debt — — — 166 Debt issuance cost amortization — 36 — 236 Interest expense, Notes $ — $ 364 $ — $ 2,662 Note: Amounts may not foot due to rounding.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2021
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 U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent 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.
New Accounting Pronouncements	Recent Accounting Pronouncements Recently adopted accounting pronouncements In October 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2020-10, Codification Improvements. These amendments improve consistency by amending the codification to include all disclosure guidance in the appropriate disclosure sections and clarify application of various provisions in the codification by amending and adding new heading, cross referencing to other guidance and refining or correcting terminology. The effective date of this ASU was for fiscal years and interim periods beginning after December 15, 2020. The Company adopted this ASU effective January 1, 2021 and did not have a material impact on the Financial Statements. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. This ASU clarifies and simplifies accounting for income taxes by eliminating certain exceptions for intraperiod tax allocation principles, the methodology for calculating income tax rates in an interim period, and accounting for franchise taxes, among other updates. The effective date of this ASU was for fiscal years and interim periods beginning after December 15, 2020. The Company adopted this ASU effective January 1, 2021 and did not have a material impact on the Financial Statements. Recently issued accounting pronouncements not yet adopted I n May 2021, the FASB issued ASU 2021-04, Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options. This guidance clarifies and reduces diversity in an issuer’s accounting for modifications or exchanges of freestanding equity-classified written call options due to a lack of explicit guidance in the FASB Codification. The guidance is effective for interim and annual periods beginning after December 15, 2021. Early adoption is permitted. The guidance is to be applied prospectively to modifications or exchanges occurring on or after the effective date. 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.

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of revenue	The following table presents the Company's revenue disaggregated by client type (in thousands): Three Months Ended June 30, Six Months Ended June 30, Client Type 2021 2020 2021 2020 Transactional $ 716,855 $ 396,794 $ 1,333,812 $ 825,168 Managed Transportation 217,669 117,925 401,514 240,600 Revenue $ 934,524 $ 514,719 $ 1,735,326 $ 1,065,768 Note: Amounts may not foot due to rounding.
Disaggregation of revenue	The following table presents the Company's revenue disaggregated by mode (in thousands): Three Months Ended June 30, Six Months Ended June 30, Mode 2021 2020 2021 2020 Truckload $ 686,957 $ 352,192 $ 1,262,893 $ 719,972 Less than truckload 217,593 141,557 408,027 299,502 Other revenue 29,974 20,971 64,406 46,294 Revenue $ 934,524 $ 514,719 $ 1,735,326 $ 1,065,768 Note: Amounts may not foot due to rounding.

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Financial assets and 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 June 30, 2021 and December 31, 2020 (in thousands): Fair Value Measurements as of June 30, 2021 Total Level 1 Level 2 Level 3 Liabilities: Contingent consideration due to seller $ (953) — — $ (953) Fair Value Measurements as of December 31, 2020 Total Level 1 Level 2 Level 3 Liabilities: Contingent consideration due to seller $ (307) — — $ (307)
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 December 31, 2020 $ (307) Change in fair value of contingent consideration due to seller (647) Balance at June 30, 2021 $ (953) Note: Amounts may not foot due to rounding.

Intangibles and Goodwill (Table

Intangibles and Goodwill (Tables)	6 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of amortizable intangible assets	The following is a summary of amortizable intangible assets as of June 30, 2021 and December 31, 2020 (in thousands): June 30, 2021 December 31, 2020 Cost Accumulated Amortization Net Cost Accumulated Amortization Net Customer relationships $ 150,239 $ (81,158) $ 69,081 $ 150,239 $ (76,677) $ 73,562 Carrier relationships 18,300 (6,549) 11,751 18,300 (6,010) 12,290 Non-compete agreements 5,239 (4,496) 743 5,239 (4,303) 936 Trade names 5,640 (5,640) — 5,640 (5,640) — $ 179,418 $ (97,843) $ 81,575 $ 179,418 $ (92,630) $ 86,788 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): Remainder of 2021 $ 5,149 2022 10,005 2023 9,501 2024 8,897 2025 8,201 Thereafter 39,822 Total $ 81,575

Accrued Expenses and Other No_2

Accrued Expenses and Other Noncurrent Liabilities (Tables)	6 Months Ended
	Jun. 30, 2021
Payables and Accruals [Abstract]
Components of accrued expenses	The components of accrued expenses at June 30, 2021 and December 31, 2020 were as follows (in thousands): June 30, 2021 December 31, 2020 Accrued compensation $ 44,249 $ 39,757 Accrued rebates 3,975 3,196 Accrued employee benefits 3,561 3,077 Accrued professional service fees 1,061 1,512 Accrued interest 160 155 Other 7,010 5,760 Total accrued expenses $ 60,016 $ 53,458 Note: Amounts may not foot due to rounding.

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Reconciliation of effective income tax rate	The following table shows the Company's effective income tax rate for the three and six months ended June 30, 2021 and 2020 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Income before provision for income taxes $ 23,923 $ 1,363 $ 37,665 $ (965) Income tax expense $ (5,556) $ (412) $ (9,102) $ (1,017) Effective tax rate 23.2 % 30.2 % 24.2 % (105.4) %

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Computation of basic and diluted earnings per common share	The computation of basic and diluted earnings (loss) per common share for the three and six months ended June 30, 2021 and 2020 is as follows (in thousands, except share and per share data): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Numerator: Net income (loss) $ 18,367 $ 951 $ 28,564 $ (1,981) Denominator: Denominator for basic earnings per common share - weighted-average shares 26,180,161 25,938,813 26,110,376 25,972,729 Effect of dilutive securities: Employee stock awards 495,028 278,943 539,007 — Denominator for dilutive earnings per common share 26,675,189 26,217,756 26,649,383 25,972,729 Basic earnings (loss) per common share $ 0.70 $ 0.04 $ 1.09 $ (0.08) Diluted earnings (loss) per common share $ 0.69 $ 0.04 $ 1.07 $ (0.08)

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Schedule of interest expense related to convertible senior notes	For the three and six months ended June 30, 2021 and 2020, interest expense related to the Notes consisted of the following (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Contractual coupon interest $ — $ 144 $ — $ 1,063 Debt discount amortization — 184 — 1,196 Loss on extinguishment of debt — — — 166 Debt issuance cost amortization — 36 — 236 Interest expense, Notes $ — $ 364 $ — $ 2,662 Note: Amounts may not foot due to rounding.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Accounts Receivable, Allowance for Credit Loss, Current	$ 6,287	$ 4,255
Accounts Receivable, Credit Loss Expense (Reversal)	1,146	1,393
Accounts Receivable, Allowance for Credit Loss, Writeoff	(1,695)	(1,794)
Accounts Receivable, Allowance for Credit Loss, Recovery	796	603
Accounts Receivable, Allowance for Credit Loss, Current	$ 6,534	$ 4,457

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Accounting Standards Update and Change in Accounting Principle [Abstract]
Accounts receivable, net of allowance for doubtful accounts	$ 546,197	$ 439,391
Accounts receivable, allowance for doubtful accounts	$ 6,534	$ 6,287	$ 4,457	$ 4,255

Revenue (Details)

Revenue (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)customerTypes	Jun. 30, 2020USD ($)
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Number of Different Client Types | customerTypes			2
Revenue	$ 934,524	$ 514,719	$ 1,735,326	$ 1,065,768
Truckload
Disaggregation of Revenue [Line Items]
Revenue	686,957	352,192	1,262,893	719,972
Less than truckload
Disaggregation of Revenue [Line Items]
Revenue	217,593	141,557	408,027	299,502
Other revenue
Disaggregation of Revenue [Line Items]
Revenue	29,974	20,971	64,406	46,294
Transactional
Disaggregation of Revenue [Line Items]
Revenue	716,855	396,794	1,333,812	825,168
Managed Transportation
Disaggregation of Revenue [Line Items]
Revenue	$ 217,669	$ 117,925	$ 401,514	$ 240,600

Fair Value Measurement - Narrat

Fair Value Measurement - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Probability of reaching the forecast maximum (as a percent)			100.00%
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Change in fair value			$ (647,000)
Payments of contingent consideration due to seller			0	$ 0
Selling, general and administrative expenses | Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Change in fair value	$ (534,000)	$ 76,000	$ (647,000)	$ 46,000
Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Discount rate used to determine fair value of contingent consideration	2.00%		2.00%
Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Discount rate used to determine fair value of contingent consideration	3.00%		3.00%
Contingent consideration
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Contingent consideration due to seller	$ (1,000,000)		$ (1,000,000)		$ (300,000)

Fair Value Measurement - Assets

Fair Value Measurement - Assets and Liabilities at Fair Value (Details) - Contingent consideration - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Liabilities:
Contingent consideration due to seller	$ (1,000)	$ (300)
Fair Value, Measurements, Recurring
Liabilities:
Contingent consideration due to seller	(953)	(307)
Fair Value, Measurements, Recurring | Level 1
Liabilities:
Contingent consideration due to seller	0	0
Fair Value, Measurements, Recurring | Level 2
Liabilities:
Contingent consideration due to seller	0	0
Fair Value, Measurements, Recurring | Level 3
Liabilities:
Contingent consideration due to seller	$ (953)	$ (307)

Fair Value Measurement - Reconc

Fair Value Measurement - Reconciliation of Liabilities Using Level 3 (Details) - Level 3 - USD ($)	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period	$ (307,000)
Change in fair value of contingent consideration due to seller	(647,000)
Balance at end of period	(953,000)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements	$ 0	$ 0

Intangibles and Goodwill - Inta

Intangibles and Goodwill - Intangible Assets (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Intangible assets:
Goodwill	$ 309,589,000		$ 309,589,000		$ 309,589,000
Accumulated impairment losses			0
Summary of amortizable intangible assets:
Cost	179,418,000		179,418,000		179,418,000
Accumulated Amortization	(97,843,000)		(97,843,000)		(92,630,000)
Net	81,575,000		81,575,000		86,788,000
Amortization expense	2,600,000	$ 2,800,000	5,200,000	$ 5,600,000
Estimated amortization expense for the next five years and thereafter:
Remainder of 2021	5,149,000		5,149,000
2021	10,005,000		10,005,000
2022	9,501,000		9,501,000
2023	8,897,000		8,897,000
2024	8,201,000		8,201,000
Thereafter	39,822,000		39,822,000
Net	81,575,000		81,575,000		86,788,000
Customer relationships
Summary of amortizable intangible assets:
Cost	150,239,000		150,239,000		150,239,000
Accumulated Amortization	(81,158,000)		(81,158,000)		(76,677,000)
Net	69,081,000		$ 69,081,000		73,562,000
Weighted-average, useful life			14 years 9 months 18 days
Estimated amortization expense for the next five years and thereafter:
Net	69,081,000		$ 69,081,000		73,562,000
Carrier relationships
Summary of amortizable intangible assets:
Cost	18,300,000		18,300,000		18,300,000
Accumulated Amortization	(6,549,000)		(6,549,000)		(6,010,000)
Net	11,751,000		$ 11,751,000		12,290,000
Weighted-average, useful life			17 years
Estimated amortization expense for the next five years and thereafter:
Net	11,751,000		$ 11,751,000		12,290,000
Non-compete agreements
Summary of amortizable intangible assets:
Cost	5,239,000		5,239,000		5,239,000
Accumulated Amortization	(4,496,000)		(4,496,000)		(4,303,000)
Net	743,000		$ 743,000		936,000
Weighted-average, useful life			6 years 8 months 12 days
Estimated amortization expense for the next five years and thereafter:
Net	743,000		$ 743,000		936,000
Trade names
Summary of amortizable intangible assets:
Cost	5,640,000		5,640,000		5,640,000
Accumulated Amortization	(5,640,000)		(5,640,000)		(5,640,000)
Net	0		$ 0		0
Weighted-average, useful life			4 years
Estimated amortization expense for the next five years and thereafter:
Net	$ 0		$ 0		$ 0

Accrued Expenses and Other No_3

Accrued Expenses and Other Noncurrent Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Payables and Accruals [Abstract]
Accrued compensation	$ 44,249	$ 39,757
Accrued rebates	3,975	3,196
Accrued employee benefits	3,561	3,077
Accrued professional service fees	1,061	1,512
Accrued interest	160	155
Other	7,010	5,760
Total accrued expenses	60,016	53,458
Other noncurrent liabilities	$ 518	$ 511

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income before provision for income taxes	$ 23,923	$ 1,363	$ 37,665	$ (965)
Income tax expense	$ (5,556)	$ (412)	$ (9,102)	$ (1,017)
Effective tax rate	23.20%	30.20%	24.20%	(105.40%)
Federal tax rate	21.00%	21.00%	21.00%	21.00%

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Numerator:
Net income (loss)	$ 18,367	$ 10,196	$ 951	$ (2,933)	$ 28,564	$ (1,981)
Denominator:
Denominator for basic earnings per common share - weighted-average shares (in shares)	26,180,161		25,938,813		26,110,376	25,972,729
Effect of dilutive securities:
Employee stock awards (in shares)	495,028		278,943		539,007	0
Denominator for dilutive earnings per common share (in shares)	26,675,189		26,217,756		26,649,383	25,972,729
Basic earnings per common share (in usd per share)	$ 0.70		$ 0.04		$ 1.09	$ (0.08)
Diluted earnings per common share (in usd per share)	$ 0.69		$ 0.04		$ 1.07	$ (0.08)
Restricted Stock Units (RSUs)
Anti-dilutive securities excluded from the calculation of earnings per share:
Shares excluded from the calculation of diluted earnings per share (in shares)	43,784				56,121
Employee stock option
Anti-dilutive securities excluded from the calculation of earnings per share:
Shares excluded from the calculation of diluted earnings per share (in shares)	0		0		0
Restricted stock
Anti-dilutive securities excluded from the calculation of earnings per share:
Shares excluded from the calculation of diluted earnings per share (in shares)	0		97,321		0	228,136

Stock-Based Compensation Plans

Stock-Based Compensation Plans (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Sep. 30, 2020
Stock based compensation plans:
Stock-based compensation expense	$ 2,300	$ 2,300	$ 7,400	$ 6,900
Tax benefits from stock-based compensation expense	$ 600	$ 600	$ 1,800	$ 1,700
Grants in period, options (in shares)			0	0
Restricted stock
Stock based compensation plans:
Grants in period, other than options (in shares)			0	3,069
Performance and market-based stock
Stock based compensation plans:
Grants in period, other than options (in shares)			94,955	139,191
Restricted Stock Units (RSUs)
Stock based compensation plans:
Restricted stock units granted to various employees			302,417		378,813

Contingencies (Details)

Contingencies (Details) - State Tax Audit - USD ($) $ in Millions	Jun. 30, 2021	Jul. 31, 2016
Loss Contingencies [Line Items]
Amount of assessment including penalties and interest		$ 1.3
Maximum
Loss Contingencies [Line Items]
Amount of assessment including penalties and interest	$ 5
Minimum
Loss Contingencies [Line Items]
Amount of assessment including penalties and interest	$ 3.5

Long-Term Debt - Line of Credit

Long-Term Debt - Line of Credit (Details) - USD ($)	Oct. 23, 2018	Jun. 01, 2015	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Line of Credit Facility [Line Items]
Repayments of Lines of Credit					$ 15,000,000	$ 25,000,000
ABL Facility
Line of Credit Facility [Line Items]
Remaining borrowing capacity			$ 229,200,000		229,200,000
ABL Facility | Revolving Credit Facility
Line of Credit Facility [Line Items]
Current borrowing capacity	$ 350,000,000
Increase to borrowing capacity	150,000,000
Maximum borrowing capacity	500,000,000
Issuance costs	$ 800,000	$ 3,100,000
Life of ABL facility (in years)	5 years
Amortization of debt issuance costs			100,000	$ 100,000	$ 200,000	200,000
Commitment fee percentage					0.25%
Commitment fee and borrowings interest expense			600,000	900,000	$ 1,200,000	1,300,000
Proceeds from borrowing on ABL facility					180,000,000	170,000,000
ABL facility, outstanding borrowings			120,000,000	$ 145,000,000	120,000,000	$ 145,000,000
Remaining borrowing capacity			350,000,000		350,000,000
ABL Facility | Revolving Credit Facility | Federal Funds Effective Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate (as a percent)	0.50%
ABL Facility | Revolving Credit Facility | Federal Funds Effective Rate | Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate (as a percent)	0.25%
ABL Facility | Revolving Credit Facility | Federal Funds Effective Rate | Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate (as a percent)	0.50%
ABL Facility | Revolving Credit Facility | LIBOR
Line of Credit Facility [Line Items]
Basis spread on variable rate (as a percent)	1.00%
ABL Facility | Revolving Credit Facility | LIBOR | Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate (as a percent)	1.25%
ABL Facility | Revolving Credit Facility | LIBOR | Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate (as a percent)	1.50%
ABL Facility | Letter of Credit
Line of Credit Facility [Line Items]
Letters of credit outstanding, amount			$ 800,000		$ 800,000

Long-Term Debt - Convertible Se

Long-Term Debt - Convertible Senior Notes (Details) - USD ($) $ in Thousands	May 01, 2020	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	May 05, 2015
Carrying amount of Notes on the balance sheet:
Purchases of Convertible Notes				$ 0	$ (88,961)
Convertible Debt
Carrying amount of Notes on the balance sheet:
Purchases of Convertible Notes	$ (69,200)
Senior Notes
Debt Instrument [Line Items]
Stated interest rate						250.00%
Repurchased face amount			$ 89,100		89,100
Repayments of debt					89,000
Gain (loss) on extinguishment of debt		$ 0	0	0	166
Carrying amount of Notes on the balance sheet:
Contractual coupon interest		0	144	0	1,063
Debt discount amortization		0	184	0	1,196
Amortization of debt issuance costs		0	36	0	236
Interest expense		$ 0	$ 364	$ 0	$ 2,662
Interest on Convertible Debt, Net of Tax	$ 900