Exhibit 99.1
QUARTERLY FINANCIAL INFORMATION BY SEGMENT (UNAUDITED)(a)
FOR THE TWO YEAR PERIOD ENDED DECEMBER 31, 2013
(Amounts in thousands)
Three Months Ended | Years Ended December 31, | |||||||||||||||||||||||||||||||||||||||
3/31/2012 | 6/30/2012 | 9/30/2012 | 12/31/2012 | 3/31/2013 | 6/30/2013 | 9/30/2013 | 12/31/2013 | 2012 | 2013 | |||||||||||||||||||||||||||||||
Operating revenue: | ||||||||||||||||||||||||||||||||||||||||
Truckload | $ | 551,247 | 575,193 | 564,802 | 591,100 | 559,595 | 588,724 | 579,494 | 585,222 | $ | 2,282,342 | 2,313,035 | ||||||||||||||||||||||||||||
Dedicated | 171,539 | 181,873 | 182,843 | 188,150 | 179,226 | 182,651 | 184,550 | 192,502 | 724,405 | 738,929 | ||||||||||||||||||||||||||||||
Central Refrigerated | 101,389 | 103,772 | 104,042 | 106,530 | 106,402 | 111,238 | 115,339 | 119,552 | 415,733 | 452,531 | ||||||||||||||||||||||||||||||
Intermodal | 73,647 | 86,145 | 91,745 | 103,957 | 83,264 | 90,994 | 96,478 | 105,339 | 355,494 | 376,075 | ||||||||||||||||||||||||||||||
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Subtotal | 897,822 | 946,983 | 943,432 | 989,737 | 928,487 | 973,607 | 975,861 | 1,002,615 | 3,777,974 | 3,880,570 | ||||||||||||||||||||||||||||||
Nonreportable segments (b) | 66,908 | 62,341 | 65,123 | 74,450 | 72,057 | 71,915 | 63,982 | 79,899 | 268,821 | 287,853 | ||||||||||||||||||||||||||||||
Intersegment eliminations | (20,912 | ) | (17,241 | ) | (15,931 | ) | (16,627 | ) | (18,936 | ) | (16,451 | ) | (7,716 | ) | (7,125 | ) | (70,710 | ) | (50,228 | ) | ||||||||||||||||||||
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Consolidated operating revenue | $ | 943,818 | 992,083 | 992,624 | 1,047,560 | 981,608 | 1,029,071 | 1,032,127 | 1,075,389 | $ | 3,976,085 | 4,118,195 | ||||||||||||||||||||||||||||
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Operating income (loss): | ||||||||||||||||||||||||||||||||||||||||
Truckload | $ | 46,554 | 67,994 | 53,818 | 77,639 | 42,403 | 64,614 | 58,053 | 60,893 | $ | 246,005 | 225,963 | ||||||||||||||||||||||||||||
Dedicated | 14,507 | 18,515 | 17,082 | 23,922 | 18,954 | 24,263 | 20,508 | 19,795 | 74,026 | 83,520 | ||||||||||||||||||||||||||||||
Central Refrigerated | 3,710 | 6,445 | 4,516 | 6,663 | 4,721 | 5,660 | 3,422 | 3,879 | 21,334 | 17,682 | ||||||||||||||||||||||||||||||
Intermodal (c) | (3,806 | ) | 141 | (2,238 | ) | (583 | ) | (1,604 | ) | 788 | 1,531 | 4,904 | (6,486 | ) | 5,619 | |||||||||||||||||||||||||
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Subtotal | 60,965 | 93,095 | 73,178 | 107,641 | 64,474 | 95,325 | 83,514 | 89,471 | 334,879 | 332,784 | ||||||||||||||||||||||||||||||
Nonreportable segments (b) | 2,608 | 1,954 | 4,012 | 8,363 | 5,244 | 4,941 | 906 | 13,084 | 16,937 | 24,175 | ||||||||||||||||||||||||||||||
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Consolidated operating income | $ | 63,573 | 95,049 | 77,190 | 116,004 | 69,718 | 100,266 | 84,420 | 102,555 | $ | 351,816 | 356,959 | ||||||||||||||||||||||||||||
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Operating Ratio | ||||||||||||||||||||||||||||||||||||||||
Truckload | 91.6 | % | 88.2 | % | 90.5 | % | 86.9 | % | 92.4 | % | 89.0 | % | 90.0 | % | 89.6 | % | 89.2 | % | 90.2 | % | ||||||||||||||||||||
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Dedicated | 91.5 | % | 89.8 | % | 90.7 | % | 87.3 | % | 89.4 | % | 86.7 | % | 88.9 | % | 89.7 | % | 89.8 | % | 88.7 | % | ||||||||||||||||||||
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Central Refrigerated | 96.3 | % | 93.8 | % | 95.7 | % | 93.7 | % | 95.6 | % | 94.9 | % | 97.0 | % | 96.8 | % | 94.9 | % | 96.1 | % | ||||||||||||||||||||
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Intermodal (c) | 105.2 | % | 99.8 | % | 102.4 | % | 100.6 | % | 101.9 | % | 99.1 | % | 98.4 | % | 95.3 | % | 101.8 | % | 98.5 | % | ||||||||||||||||||||
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Adjusted Operating Ratio (d): | ||||||||||||||||||||||||||||||||||||||||
Truckload | 89.3 | % | 84.9 | % | 88.0 | % | 83.3 | % | 90.4 | % | 86.2 | % | 87.4 | % | 87.0 | % | 86.3 | % | 87.7 | % | ||||||||||||||||||||
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Dedicated | 89.7 | % | 87.4 | % | 88.6 | % | 84.3 | % | 86.9 | % | 83.7 | % | 86.3 | % | 87.4 | % | 87.5 | % | 86.1 | % | ||||||||||||||||||||
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Central Refrigerated | 95.2 | % | 91.8 | % | 94.4 | % | 91.9 | % | 94.2 | % | 93.5 | % | 96.3 | % | 96.0 | % | 93.3 | % | 95.1 | % | ||||||||||||||||||||
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Intermodal (c) | 106.5 | % | 99.8 | % | 103.1 | % | 100.7 | % | 102.5 | % | 98.9 | % | 98.0 | % | 94.2 | % | 102.3 | % | 98.1 | % | ||||||||||||||||||||
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(a) | In the first quarter of 2014, we reorganized out reportable segments to reflect our revised reporting structure of our lines of businesses following the integration of Central Refrigerated. In association with the organizational reorganization, the operations of Central Refrigerated’s Trailer on Flat Car (“TOFC”) business will be reported within our Intermodal segment and the operations of Central Refrigerated’s logistic business, third party leasing and other services provided to owner-operators will be reported within our other non-reportable segment. All prior period historical results related to the above noted segment reorganization have been retrospectively recast. |
(b) | Our nonreportable segments are comprised of our freight brokerage and logistics management services, IEL, insurance and shop activities. |
(c) | During 2012, our Intermodal reportable segment incurred an increase in its insurance and claims expense primarily related to one claim associated with a drayage accident, which increased the Intermodal Operating Ratio and Adjusted Operating Ratio by approximately 420 basis points and 530 basis points, respectively, for the three months ended March 31, 2012, 760 basis points and 970 basis points, respectively, for the three months ended September 30, 2012 and 280 basis points and 360 basis points, respectively, for the year ended December 31, 2012. |
(d) | See our reconciliation of Adjusted Operating Ratio by Segment at the schedule titled “Adjusted Operating Income and Operating Ratio Reconciliation by Segment”. |