Schneider National (SNDR) 10-K 18 Feb 22 2021 FY Annual report Financial data

Cover

Cover - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Feb. 15, 2022	Jun. 30, 2021
Document Information
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2021
Document Transition Report	false
Entity File Number	001-38054
Entity Registrant Name	Schneider National, Inc.
Entity Incorporation, State or Country Code	WI
Entity Tax Identification Number	39-1258315
Entity Address, Address Line One	3101 South Packerland Drive
Entity Address, City or Town	Green Bay,
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	54313
City Area Code	920
Local Phone Number	592-2000
Title of 12(b) Security	Class B common stock, no par value
Trading Symbol	SNDR
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
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
ICFR Auditor Attestation Flag	true
Entity Public Float			$ 1,140.4
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Entity Central Index Key	0001692063
Current Fiscal Year End Date	--12-31
Class A Common Shares
Document Information
Entity Common Stock, Shares Outstanding		83,029,500
Class B Common Stock
Document Information
Entity Common Stock, Shares Outstanding		94,628,484

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2021
Audit Information [Abstract]
Auditor name	Deloitte & Touche LLP
Auditor location	Milwaukee, Wisconsin
Auditor firm ID	34

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Operating revenues	$ 5,608.7	$ 4,552.8	$ 4,747
Operating expenses:
Purchased transportation	2,657.7	1,997.8	1,996.4
Salaries, wages, and benefits	1,149.5	1,046.5	1,106
Fuel and fuel taxes	281.4	204.4	289.7
Depreciation and amortization	296.2	290.5	292.9
Operating supplies and expenses	462.4	533	530.2
Insurance and related expenses	82.4	86.1	109.6
Other general expenses	134.8	106.8	116.1
Goodwill impairment charge	10.6	0	34.6
Restructuring—net	0	1	63.7
Total operating expenses	5,075	4,266.1	4,539.2
Income from operations	533.7	286.7	207.8
Other expenses (income):
Interest income	(2.1)	(3.3)	(8.5)
Interest expense	12.5	13.6	16.6
Other expense (income)—net	(18.7)	(6.5)	1.6
Total other expenses (income)—net	(8.3)	3.8	9.7
Income before income taxes	542	282.9	198.1
Provision for income taxes	136.6	71.2	51.1
Net income	405.4	211.7	147
Other comprehensive income (loss):
Foreign currency translation adjustment—net	0.1	0.6	0
Net unrealized gains (losses) on marketable securities—net of tax	(0.9)	0.1	1.1
Total other comprehensive income (loss)—net	(0.8)	0.7	1.1
Comprehensive income	$ 404.6	$ 212.4	$ 148.1
Weighted average common shares outstanding	177.6	177.3	177.1
Basic earnings per share	$ 2.28	$ 1.19	$ 0.83
Weighted average diluted shares outstanding	178.1	177.6	177.3
Diluted earnings per share	$ 2.28	$ 1.19	$ 0.83
Dividends declared per share	$ 0.28	$ 2.26	$ 0.24

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Current Assets:
Cash and cash equivalents	$ 244.8	$ 395.5
Marketable securities	49.3	47.1
Trade accounts receivable—net of allowance of $5.2 million and $3.7 million, respectively	705.4	537.7
Other receivables	35.9	20.8
Current portion of lease receivables—net of allowance of $1.1 million and $0.8 million, respectively	110.6	96.8
Inventories	27.4	44.9
Prepaid expenses and other current assets	75.1	77.9
Total current assets	1,248.5	1,220.7
Property and equipment:
Transportation equipment	3,056.2	2,880.2
Land, buildings, and improvements	215.7	202.3
Other property and equipment	175.1	166.8
Total property and equipment	3,447	3,249.3
Less accumulated depreciation	1,396	1,417.4
Net property and equipment	2,051	1,831.9
Lease receivables	160.1	131.3
Internal use software and other noncurrent assets	237.2	204.2
Goodwill	240.5	128.1
Total noncurrent assets	2,688.8	2,295.5
Total Assets	3,937.3	3,516.2
Current Liabilities:
Trade accounts payable	331.7	245.7
Accrued salaries, wages, and benefits	104.5	110.7
Claims accruals—current	83.9	36.4
Current maturities of debt and finance lease obligations	61.4	40.4
Other current liabilities	108.7	101.4
Total current liabilities	690.2	534.6
Noncurrent Liabilities:
Long-term debt and finance lease obligations	208.9	266.4
Claims accruals—noncurrent	88.5	129.9
Deferred income taxes	451	450.4
Other noncurrent liabilities	74.9	79.4
Total noncurrent liabilities	823.3	926.1
Total Liabilities	1,513.5	1,460.7
Shareholders' Equity:
Additional paid-in capital	1,566	1,552.2
Retained earnings	857.8	502.5
Accumulated other comprehensive income	0	0.8
Total Shareholders’ Equity	2,423.8	2,055.5
Total Liabilities and Shareholders’ Equity	3,937.3	3,516.2
Supplemental Income Statement Elements [Abstract]
Trade accounts receivable allowance	5.2	3.7
Lease receivables allowance	$ 1.1	$ 0.8
Operating lease right-of-use assets	Internal use software and other noncurrent assets	Internal use software and other noncurrent assets
Finance lease right-of-use assets	Net property and equipment	Net property and equipment
Operating lease liability current	Other current liabilities	Other current liabilities
Operating lease liability noncurrent	Other noncurrent liabilities	Other noncurrent liabilities
Operating lease liability	Total Liabilities	Total Liabilities
Finance lease liability current	Current maturities of debt and finance lease obligations	Current maturities of debt and finance lease obligations
Finance lease liability noncurrent	Long-term debt and finance lease obligations	Long-term debt and finance lease obligations
Finance lease liability	Total Liabilities	Total Liabilities
Preferred Stock
Shareholders' Equity:
Preferred stock	$ 0	$ 0
Preferred stock, par value (usd per share)	$ 0	$ 0
Preferred stock, shares authorized (shares)	50,000,000	50,000,000
Preferred stock, shares issued (shares)	0	0
Preferred stock, shares outstanding (shares)	0	0
Class A Common Shares
Shareholders' Equity:
Common stock	$ 0	$ 0
Common stock, par value (usd per share)	$ 0	$ 0
Common stock, shares authorized (shares)	250,000,000	250,000,000
Common stock, shares issued (shares)	83,029,500	83,029,500
Common stock, shares outstanding (shares)	83,029,500	83,029,500
Class B Common Stock
Shareholders' Equity:
Common stock	$ 0	$ 0
Common stock, par value (usd per share)	$ 0	$ 0
Common stock, shares authorized (shares)	750,000,000	750,000,000
Common stock, shares issued (shares)	95,701,868	95,159,635
Common stock, shares outstanding (shares)	94,626,740	94,311,653

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Operating Activities:
Net income	$ 405.4	$ 211.7	$ 147
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	296.2	290.5	292.9
Goodwill impairment	10.6	0	34.6
(Gains) losses on sales of property and equipment—net	(63.9)	6.2	(3.3)
Impairment on assets held for sale	0	4.3	14.3
Proceeds from lease receipts	75.8	69	78.7
Deferred income taxes	2	1.7	(0.2)
Long-term incentive and share-based compensation expense (benefit)	14.4	8.9	(3.6)
Gains on investment in equity securities—net	(21.6)	(8.8)	0
Noncash restructuring—net	0	1.1	50
Other noncash items	(4.4)	3.1	3.4
Changes in operating assets and liabilities:
Receivables	(162)	(65.4)	119.9
Other assets	(46)	(15.3)	(3.3)
Payables	70.2	56.5	(35.3)
Claims reserves and other receivables—net	6.8	3.8	(12.6)
Other liabilities	(17.4)	50.9	(46.2)
Net cash provided by operating activities	566.1	618.2	636.3
Investing Activities:
Purchases of transportation equipment	(399.4)	(274.8)	(335.3)
Purchases of other property and equipment	(49.5)	(49.7)	(61.7)
Proceeds from sale of property and equipment	177.8	87.4	90.1
Proceeds from sale of off-lease inventory	17	22.7	20.7
Purchases of lease equipment	(91.7)	(94.5)	(68.7)
Proceeds from marketable securities	14.6	24.2	22.1
Purchases of marketable securities	(18.7)	(23.6)	(17.4)
Investment in equity securities	(5.2)	(10.4)	0
Acquisition of business	(271.3)	0	0
Net cash used in investing activities	(626.4)	(318.7)	(350.2)
Financing Activities:
Payments of debt and finance lease obligations	(40.8)	(55.6)	(52)
Payments of deferred consideration related to acquisition	0	0	(18.7)
Dividends paid	(49.6)	(400)	(42.5)
Net cash used in financing activities	(90.4)	(455.6)	(113.2)
Net (decrease) increase in cash and cash equivalents	(150.7)	(156.1)	172.9
Cash and Cash Equivalents:
Beginning of period	395.5	551.6	378.7
End of period	244.8	395.5	551.6
Noncash investing and financing activity:
Transportation and lease equipment purchases in accounts payable	14.6	0.6	19.1
Dividends declared but not yet paid	14.1	13.6	10.8
Cash paid during the period for:
Interest	11.6	12.8	14.5
Income taxes—net of refunds	$ 145.9	$ 61.6	$ 51.6

Consolidated Statements Shareho

Consolidated Statements Shareholders' Equity - USD ($) $ in Millions	Total	Class A Common Shares	Class B Common Stock	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Balance at Dec. 31, 2018	$ 2,132.3			$ 0	$ 1,544	$ 589.3	$ (1)
Increase (Decrease) in Stockholders' Equity
Net income	147			0	0	147	0
Other comprehensive income (loss)	1.1			0	0	0	1.1
Share-based compensation expense (benefit)	$ (0.4)			0	(0.4)	0	0
Dividends declared per share	$ 0.24	$ 0.24	$ 0.24
Dividends declared	$ (42.7)			0	0	(42.7)	0
Share issuances	0.3			0	0.3	0	0
Shares withheld for employee taxes	(1.2)			0	(1.2)	0	0
Balance at Dec. 31, 2019	2,236.4			0	1,542.7	693.6	0.1
Increase (Decrease) in Stockholders' Equity
Net income	211.7			0	0	211.7	0
Other comprehensive income (loss)	0.7			0	0	0	0.7
Share-based compensation expense (benefit)	$ 8.6			0	8.6	0	0
Dividends declared per share	$ 2.26	2.26	2.26
Dividends declared	$ (402.8)			0	0	(402.8)	0
Share issuances	0.2			0	0.2	0	0
Exercise of employee stock options	1.6			0	1.6	0	0
Shares withheld for employee taxes	(0.9)			0	(0.9)	0	0
Balance at Dec. 31, 2020	2,055.5			0	1,552.2	502.5	0.8
Increase (Decrease) in Stockholders' Equity
Net income	405.4			0	0	405.4	0
Other comprehensive income (loss)	(0.8)			0	0	0	(0.8)
Share-based compensation expense (benefit)	$ 14.6			0	14.6	0	0
Dividends declared per share	$ 0.28	$ 0.28	$ 0.28
Dividends declared	$ (50.1)			0	0	(50.1)	0
Share issuances	0.9			0	0.9	0	0
Exercise of employee stock options	0.7			0	0.7	0	0
Shares withheld for employee taxes	(2.4)			0	(2.4)	0	0
Balance at Dec. 31, 2021	$ 2,423.8			$ 0	$ 1,566	$ 857.8	$ 0

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Operations We are one of the largest providers of surface transportation and logistics solutions in North America that, through our wholly owned subsidiaries, provides safe, reliable, and innovative truckload, intermodal, and logistics services to a diverse group of customers throughout the continental United States, Canada, and Mexico. Principles of Consolidation and Basis of Presentation Our consolidated financial statements have been prepared in conformity with GAAP and include all of our wholly owned subsidiaries. All intercompany transactions have been eliminated in consolidation. Use of Estimates We make estimates and assumptions that affect assets, liabilities, the disclosure of contingent liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from these estimates. Cash and Cash Equivalents Cash in excess of current operating requirements is invested in short-term, highly liquid investments. We consider all highly liquid investments purchased with original maturities of three months or less to be cash equivalents. Receivables and Allowance As of January 1, 2020, we adopted ASU 2016-13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments , which is codified in ASC 326, for our trade account receivable and allowance, as well as our leases. Our trade accounts receivable is recorded net of an allowance for doubtful accounts and revenue adjustments. The allowance is based on an aging analysis using historical experience, as well as any current and forecasted trends or uncertainties related to customer billing and account collectability. The adequacy of our allowance is reviewed at least quarterly, and reserves for receivables not expected to be collected are established. In circumstances where we are aware of a customer’s inability to meet its financial obligations, a specific reserve is recorded to reduce the net receivable to the amount we reasonably expect to collect. Bad debt expense is included in other general expenses in the consolidated statements of comprehensive income. We record our lease receivables net of an allowance for doubtful accounts based on an aging analysis to reserve amounts expected to be uncollectible. The terms of the lease agreements generally give us the ability to take possession of the underlying asset in the event of default. We may incur credit losses in excess of recorded allowances if the full amount of anticipated proceeds from the sale or re-lease of the asset supporting the third party’s financial obligation, which can be impacted by economic conditions, is not realized. Inventory Our inventories consist of tractors and trailing equipment owned by our equipment leasing company to be sold or leased to owner-operators, as well as parts, tires, supplies, and fuel for use in our Company operations. These inventories are valued at the lower of cost or market using specific identification or average cost. The following table shows the components of our inventory balances as of the dates shown. (in millions) December 31, 2021 December 31, 2020 Tractors and trailing equipment for sale or lease $ 13.3 $ 33.3 Replacement parts 13.2 10.7 Tires and other 0.9 0.9 Total $ 27.4 $ 44.9 Investments in Marketable Securities Our marketable securities are classified as available-for-sale and carried at fair value in current assets on the consolidated balance sheets. While our intent is to hold our securities to maturity, sudden changes in the market or to our liquidity needs may cause us to sell certain securities in advance of their maturity date. We adopted ASU 2016-13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments , which is codified in ASC 326, as of January 1, 2020. Under this guidance, credit losses are recorded through an allowance for credit losses rather than as a direct write-down to the security, and unrealized gains and losses, net of tax, are included as a component of accumulated other comprehensive income on the consolidated balance sheets, unless we determine that the amortized cost basis is not recoverable. If we determine that the amortized cost basis of the impaired security is not recoverable, we recognize the credit loss by increasing the allowance for those losses. We did not have an allowance for credit losses on our marketable securities as of December 31, 2021 and 2020. Cost basis is determined using the specific identification method. When adopting this standard, we elected to continue to present the accrued interest receivable balance associated with our investments in marketable securities separate from the marketable securities line in the consolidated balance sheets. In addition, we elected the practical expedient provided under the guidance to exclude the applicable accrued interest from the amortized cost basis disclosure of our marketable securities. We have also elected not to measure an allowance for credit losses on our accrued interest receivable and to write off accrued interest receivable by reversing interest income when it is not considered collectible. Fair Value Fair value is the estimated price that would be received to sell an asset or paid to transfer a liability. Inputs to valuation techniques used to measure fair value fall into three broad levels (Levels 1, 2, and 3) as follows: Level 1 —Observable inputs that reflect quoted prices for identical assets or liabilities in active markets that we have the ability to access at the measurement date. Level 2 —Observable inputs, other than quoted prices included in Level 1, for the asset or liability or prices for similar assets and liabilities. Level 3 —Unobservable inputs reflecting the reporting entity’s estimates of the assumptions that market participants would use in pricing the asset or liability (including assumptions about risk). Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Property and Equipment Property and equipment are recorded at cost. Depreciation is calculated using the straight-line method based on the estimated useful lives and residual values. Generally, the estimated useful lives are as follows: 2021 Tractors 3 - 8 years Trailing equipment 6 - 20 years Other transportation equipment 4 - 5 years Buildings and improvements 5 - 25 years Other property 3 - 10 years Salvage values, when applicable, generally don’t exceed 30% or 25% of the original cost for tractors and trailing equipment, respectively, and reflect any agreements with tractor suppliers for residual or trade-in values for certain new equipment. Long-lived assets require an impairment review when events or circumstances indicate that the carrying amount may not be recoverable. We base our evaluation of other long-lived assets on the presence of impairment indicators such as the future economic benefit of the assets, any historical or future profitability measurements, and other external market conditions or factors. The carrying amount of tangible long-lived assets held and used is considered not recoverable if the carrying amount exceeds the undiscounted sum of cash flows expected to result from the use and eventual disposition of the asset. If the carrying amount is not recoverable, the impairment loss is measured as the excess of the asset’s carrying amount over its fair value. Gains and losses on the sale or other disposition of equipment are based on the difference between the proceeds received less costs to sell and the net book value of the assets disposed. Gains and losses are recognized at the time of sale or disposition and are classified in operating supplies and expenses in the consolidated statements of comprehensive income. For the years ending December 31, 2021, 2020, and 2019, we recognized $63.9 million of net gains, $6.7 million of net losses, and $1.8 million of net gains on the sale of property and equipment, respectively. Included in gains and losses on the sale of property and equipment for the years ended December 31, 2020 and 2019 were net losses of $0.5 million and $1.5 million related to the shutdown of our FTFM service offering, respectively. Assets Held for Sale Assets held for sale consist of revenue equipment and are included in prepaid expenses and other current assets in the consolidated balance sheets. Reclassification to assets held for sale occurs when the required criteria, as defined by ASC 360, Property, Plant and Equipment , are satisfied. Assets held for sale are evaluated for impairment when transferred to held for sale status or as impairment indicators are present. The carrying amount of assets held for sale is not recoverable if the carrying amount exceeds the fair value less estimated costs to sell the asset. An impairment loss is recorded for the excess of the asset’s carrying amount over the fair value less estimated costs to sell. Impairment losses are recorded in operating supplies and expenses in the consolidated statements of comprehensive income. No impairment losses were recorded for the year ended December 31, 2021. For the years ended December 31, 2020 and 2019, total impairment losses were $4.7 million and $42.4 million, respectively. Impairment losses for the year ended December 31, 2019 included a $28.1 million impairment related to the shutdown of our FTFM service offering and an $11.5 million impairment related to a bulk sale of tractors. Assets held for sale by segment as of December 31, 2021 and 2020 were as follows: (in millions) 2021 2020 Truckload (1) $ 0.5 $ 16.9 Intermodal 0.2 1.9 Total $ 0.7 $ 18.8 (1) As of December 31, 2020, $1.6 million related to the shutdown of our FTFM service offering. Internal Use Software and Cloud Computing Arrangements five Additionally, with the adoption of ASU 2018-15 on January 1, 2020, we capitalize certain implementation costs for internal use software incurred in a CCA that is a service contract. CCA implementation costs are amortized on a straight-line basis over the term of the related hosting agreement, taking into consideration renewal options, if any. The renewal period is included in the amortization period if determined that the option is reasonably certain to be exercised. Amortization expense is recorded within operating supplies and expenses on the consolidated statements of comprehensive income, similar to the related hosting fees. We recorded $1.0 million of amortization expense related to CCA implementation costs during the year ended December 31, 2021. There was no amortization expense related to CCA implementation costs during the year ended December 31, 2020. The following table provides information related to our internal use software and CCA implementation costs as of the dates shown. (in millions) December 31, 2021 December 31, 2020 Internal use software $ 319.4 $ 290.7 Less accumulated amortization 225.5 207.6 Net internal use software $ 93.9 $ 83.1 CCA implementation costs $ 10.3 $ 7.3 Less accumulated amortization 1.0 — Net CCA implementation costs (1) $ 9.3 $ 7.3 (1) On the consolidated balance sheets, the current portion of CCA implementation costs are included within prepaid expenses and other current assets and amounted to $1.2 million and $0.1 million for the years ended December 31, 2021 and 2020, respectively, and the noncurrent portion is included in internal use software and other noncurrent assets and amounted to $8.1 million and $7.2 million for the years ended December 31, 2021 and 2020, respectively. Goodwill Goodwill is tested for impairment annually in October, or more frequently if impairment indicators exist. The carrying amount of a reporting unit’s goodwill is considered not recoverable, and an impairment loss is recorded if the carrying amount of the reporting unit exceeds the reporting unit’s fair value, as determined based on the combination of an income approach and a market approach. See Note 6, Goodwill , for more information on our goodwill. Revenue Recognition We recognize revenue during the delivery period based on relative transit time in each reporting period, in accordance with ASC 606, with expenses recognized as incurred. Accordingly, a portion of the total revenue that will be billed to the customer once a load is delivered is recognized in each reporting period based on the percentage of the freight delivery service that has been completed at the end of the reporting period. When we use third-party carriers, we generally record revenues on the gross basis at amounts charged to our customers because we are the primary obligor, we are a principal in the transaction, we invoice our customers and retain all credit risks, and we maintain discretion over pricing. Additionally, we are responsible for selection of third-party transportation providers to the extent they are used to satisfy customer freight requirements. We record revenues net of pass-through taxes in our consolidated statements of comprehensive income. For the years ended December 31, 2021, 2020, and 2019, no customer accounted for more than 10% of our consolidated revenues. Income Taxes Income taxes are accounted for under the liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized as income or expense in the period that includes the enactment date. We record valuation allowances for deferred tax assets to the extent we do not believe these assets are more-likely-than-not to be realized through the reversal of existing taxable temporary differences, projected future taxable income, or tax-planning strategies. We record a liability for unrecognized tax benefits when the benefits of tax positions taken on a tax return are not more-likely-than-not to be sustained upon audit. Interest and penalties related to uncertain tax positions are classified as income tax expense in the consolidated statements of comprehensive income. Earnings Per Share We compute basic earnings per share by dividing net income available to common stockholders by the weighted average number of common shares outstanding for the reporting period. Diluted earnings per share reflects the potential dilution that could occur if holders of unvested restricted and performance share units or options were to exercise or convert their holdings into common stock. Awards that would have an anti-dilutive impact are excluded from the calculation. Share-based Compensation We have share-based compensation plans covering certain employees, including officers and directors. We account for share-based compensation using the fair value recognition provisions of current accounting standards for share-based payments. We grant restricted stock units, restricted shares, performance-based restricted stock units, performance-based restricted shares, and non-qualified stock options. We recognize compensation expense over the requisite service periods within each award. See Note 12, Share-Based Compensation , for more information about our plans. Claims Accruals We are self-insured for loss of and damage to our owned and leased revenue equipment. We purchase insurance coverage for a portion of expenses related to employee injuries, vehicular accidents, and cargo damage. Certain insurance arrangements include a level of self-insurance (deductible) coverage applicable to each claim. We have excess policies to limit our exposure to catastrophic claim costs. The amounts of self-insurance change from time to time based on measurement dates, policy expiration dates, and claim type. Our claims accrual policy for all self-insured claims is to recognize a liability at the time of the incident based on our analysis of the nature and severity of the claims and analyses provided by third-party claims administrators, as well as legal, economic, and regulatory factors. The ultimate cost of a claim develops over time as additional information regarding the nature, timing, and extent of damages claimed becomes available. Accordingly, we use an actuarial method to develop current claim information to derive an estimate of our ultimate claim liability. This process involves the use of loss-development factors based on our historical claims experience and includes a contractual premium adjustment factor, if applicable. In doing so, the recorded liability considers future claims growth and provides an allowance for incurred but not reported claims. We do not discount our estimated losses. At December 31, 2021 and 2020, we had an accrual of $158.3 million and $144.2 million, respectively, for estimated claims net of reinsurance receivables. In addition, we are required to pay certain advanced deposits and monthly premiums. At December 31, 2021 and 2020, we had an aggregate prepaid insurance asset of $11.0 million and $10.6 million, respectively, which represented prefunded premiums and deposits. Accounting Standards Issued but Not Yet Adopted In November 2021, the FASB issued ASU 2021-10, Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance, to increase the transparency of government assistance. This standard requires business entities to disclose information about transactions with a government that are accounted for by applying a grant or contribution model by analogy (for example, IFRS guidance in IAS 20 or guidance on contributions for not-for-profit entities in ASC 958-605), including information about the nature of the transaction, including significant terms and conditions, as well as the amounts and specific financial statement line items affected by the transaction. ASU 2021-10 is effective for us beginning with our December 31, 2022 financial statements, with early adoption permitted. We do not believe the adoption of this standard will have a material impact on our consolidated financial statements or disclosures. Accounting Standards Recently Adopted We adopted ASU 2019-12, Simplifying the Accounting for Income Taxes, which reduces complexity in accounting for income taxes by eliminating certain exceptions to the general principles in Topic 740 and clarifying and amending existing guidance to improve consistent application among reporting entities, as of January 1, 2021. We used the modified retrospective or prospective approach, which was based on the specific amendment implemented, when adopting this standard. The adoption of this standard did not have a material impact on our consolidated financial statements or related disclosures.

Business Combinations and Asset

Business Combinations and Asset Acquisitions	12 Months Ended
	Dec. 31, 2021
Business Combination and Asset Acquisition [Abstract]
Acquisition	ACQUISITION We entered into a Securities Purchase Agreement, dated December 31, 2021 (“Acquisition Date”), to acquire 100% of the outstanding equity of MLS, a dedicated trucking company based in Celina, OH, and certain affiliated entities holding assets comprising substantially all of MLS’s business (the “Acquisition”). MLS is a premier dedicated carrier in the central U.S. that we believe complements our growing dedicated operations. As of December 31, 2021, MLS had approximately 1,000 associates and operated 900 tractors and 3,600 trailers across 30 owned or leased locations in the U.S. The aggregate purchase price of the Acquisition was approximately $274.5 million inclusive of certain cash and net working capital adjustments and a deferred payment of $3.2 million made in January 2022. Proceeds from the total purchase consideration were used to settle $26.9 million of MLS’s outstanding debt as of the Acquisition Date. The following table summarizes the purchase price: Purchase Consideration (in millions) December 31, 2021 Cash consideration $ 271.3 Deferred cash consideration 3.2 Fair value of total consideration transferred $ 274.5 Acquisition-related costs, which consisted of fees incurred for advisory, legal, and accounting services, were $1.9 million and were included in other general expenses in the Company’s consolidated statements of comprehensive income for the period ended December 31, 2021. Certain amounts recorded in connection with the Acquisition are still considered preliminary as we continue to gather the necessary information to finalize our fair value estimates and provisional amounts. Provisional amounts include items related to working capital adjustments, intangibles, indemnification assets and liabilities, and leases. . During the measurement period, which is up to one year from the Acquisition Date, we may adjust provisional amounts that were recognized at the Acquisition Date to reflect new information obtained about facts and circumstances that existed as of the Acquisition Date. We anticipate finalizing the determination of fair value by December 31, 2022. The preliminary purchase price allocation for MLS, which may be adjusted by material amounts as we finalize our fair value estimates and provisional amounts, was as follows: Recognized amounts of identifiable assets acquired and liabilities assumed (in millions) December 31, 2021 Trade accounts receivable—net of allowance $ 18.6 Other receivables 0.9 Prepaid expenses and other current assets 1.6 Transportation equipment 140.8 Land, buildings, and improvements 7.7 Other property and equipment 0.4 Goodwill 122.7 Total assets acquired 292.7 Trade accounts payable 1.8 Accrued salaries, wages, and benefits 1.7 Claims accruals—current 7.5 Other current liabilities 7.2 Total liabilities assumed 18.2 Net assets acquired $ 274.5

Revenue Recognition

Revenue Recognition	12 Months Ended
	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Revenue Recognition	REVENUE RECOGNITION Disaggregated Revenues The majority of our revenues are related to transportation and have similar characteristics. The following table summarizes our revenues by type of service, which are explained in greater detail below. Year Ended December 31, Disaggregated Revenues ( in millions ) 2021 2020 2019 Transportation $ 5,166.7 $ 4,170.0 $ 4,376.6 Logistics Management 219.0 149.7 153.8 Other 223.0 233.1 216.6 Total operating revenues $ 5,608.7 $ 4,552.8 $ 4,747.0 Transportation Transportation revenues are generated from our Truckload and Intermodal segments, as well as from our brokerage business, which is included in the Logistics segment. In the Transportation portfolio, our service obligation to customers is satisfied over time. We do not believe there is a significant impact on the nature, amount, timing, and uncertainty of revenue or cash flows based on the mode of transportation. The economic factors that impact our transportation revenue are generally consistent across these modes given the relatively short-term nature of each contract. For the majority of our transportation business, the “contract with a customer” is identified as an individual order under a negotiated agreement. Some consideration is variable in that a final transaction price is uncertain and is susceptible to factors outside of the Company’s influence, such as the weather or the accumulation of accessorial charges. Pricing information is supplied by rate schedules that accompany negotiated contracts. Occasionally we provide freight movements to customers in exchange for non-monetary services. The fair value of non-monetary consideration on these freight movements is included in operating revenues on the consolidated statements of comprehensive income. The amount of operating revenues recorded for these services was $6.3 million in 2021. There was no revenue recorded in 2020 or 2019 for freight movements in exchange for non-monetary consideration. Transportation orders are short-term in nature generally having terms of significantly less than one year. They do not include significant financing components. A small portion of revenues in our transportation business relate to fixed payments in our Truckload segment. These payments are due regardless of volumes, and in these arrangements, the master agreement rather than the individual order may be considered the “contract.” Refer to the Remaining Performance Obligations table below for more information on these fixed payments. Under ASC 606, we recognize revenue over the period transportation services are provided to the customer, including service performed as of the end of the reporting period for loads currently in transit, in order to recognize the value transferred to a customer over the course of the transportation service. We determine revenue in transit using the input method, under which revenue is recognized based on time lapsed from the departure date to the arrival date. Measurement of revenue in transit requires the application of significant judgment. We calculate the estimated percentage of an order’s transit time that is complete at period end, and we apply that percentage of completion to the order’s estimated revenue. In certain transportation arrangements, an unrelated party contributes a specified service to our customer. For example, we contract with third-party carriers to perform transportation services on behalf of our customers in our brokerage business, and we use third-party rail carriers in our Intermodal segment. In situations that include the contributions of third parties, we act as principal in the arrangement, and, accordingly, we recognize gross revenues from these transactions. Logistics Management Logistics Management revenues relate to our SCDM operating segment, which is included in our Logistics segment. Within this portfolio, the key service we provide to customers is management of freight shipping and/or storage. The “contracts” in our Logistics Management portfolio are negotiated agreements, which contain both fixed and variable components. The variability of revenues is driven by volumes and transactions, which are known as of an invoice date. Refer to the Remaining Performance Obligations table below for additional information. SCDM contracts typically have terms that extend beyond one year and do not include financing components. Under ASC 606 we have elected to use the right to invoice practical expedient, which reflects the fact that a customer obtains the benefit associated with logistics services as they are provided (output method), and therefore we recognize revenue under these contracts over time. In our supply chain management business, we subcontract third parties to perform a portion of the services. We are responsible for ensuring the services are performed and are acceptable to the customer; therefore, we are considered the principal in these arrangements. Other Other revenues relate to activities that are out of scope for purposes of ASC 606, including our leasing and captive insurance businesses. Quantitative Disclosure The following table provides information related to transactions and expected timing of revenue recognition for performance obligations that are fixed in nature and relate to contracts with terms greater than one year as of the date shown. Remaining Performance Obligations (in millions) December 31, 2021 Expected to be recognized within one year Transportation $ 16.1 Logistics Management 13.1 Expected to be recognized after one year Transportation 38.9 Logistics Management 6.9 Total $ 75.0 This disclosure does not include revenue related to performance obligations that are part of a contract with an original expected duration of one year or less, nor does it include expected consideration related to performance obligations for which the Company elects to recognize revenue in the amount it has a right to invoice (e.g., usage-based pricing terms). The following table provides information related to contract balances associated with our contracts with customers as of the dates shown. Contract Balances ( in millions ) December 31, 2021 December 31, 2020 December 31, 2019 Other current assets—Contract assets $ 33.8 $ 21.5 $ 17.6 Other current liabilities—Contract liabilities 3.2 0.7 — We generally receive payment within 40 days of completion of performance obligations. Contract assets in the table above relate to revenue in transit at the end of the reporting period. Contract liabilities relate to amounts that customers paid in advance of the associated service. Practical Expedients We elected to use the following practical expedients under ASC 606: (1) not to adjust the promised amount of consideration for the effects of a significant financing component when we expect, at contract inception, that the period between our transfer of a promised service to a customer and when the customer pays for that service will be one year or less; (2) to apply ASC 606 to a portfolio of contracts (or performance obligations) with similar characteristics, as we reasonably expect that the effects on the consolidated financial statements of applying this guidance to the portfolio would not differ materially from applying this guidance to the individual contracts (or performance obligations) within that portfolio; and (3) to recognize revenue in the Logistics Management portfolio as the amount of consideration to which we have a right to invoice, that corresponds directly with the value to the customer of the service completed to date.

Fair Value

Fair Value	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value	FAIR VALUE The table below sets forth the Company’s financial assets that are measured at fair value on a recurring, monthly basis in accordance with ASC 820. Fair Value at (in millions) Level in Fair December 31, 2021 December 31, 2020 Equity investment in TuSimple (1) 1 $ 12.7 $ — Marketable securities (2) 2 49.3 47.1 (1) Our equity investment in TuSimple is classified as Level 1 in the fair value hierarchy as shares of TuSimple’s Class A common stock are traded on the NASDAQ. See Note 5, Investments, for additional information . (2) Marketable securities are classified as Level 2 in the fair value hierarchy as they are valued based on quoted prices for similar assets in active markets or quoted prices for identical or similar assets in markets that are not active. See Note 5, Investments , for additional information. The fair value of the Company’s debt was $276.7 million and $316.9 million as of December 31, 2021 and 2020, respectively. The carrying value of the Company’s debt was $265.0 million and $305.0 million as of December 31, 2021 and 2020, respectively. The fair value of our debt was calculated using a fixed rate debt portfolio with similar terms and maturities, which is based on the borrowing rates available to us in the applicable year. This valuation used Level 2 inputs. The recorded value of cash, trade accounts receivable, lease receivables, and trade accounts payable approximates fair value. We measure non-financial assets such as assets held for sale and other long-lived assets at fair value when there is an indicator of impairment and only when we recognize an impairment loss. During 2021 we did not measure any non-financial assets at fair value. The table below sets forth the Company’s non-financial assets that were measured at fair value on a non-recurring basis during 2020. (in millions) Level in Fair Fair Value at December 31, 2020 Assets held for sale Non restructuring (1) 2 $ 1.8 Restructuring (2) 2 1.4 Right-of-use lease assets Non restructuring (3) 3 1.0 Restructuring (2) 3 — (1) Our held for sale revenue equipment is evaluated for impairment using market data upon classification as held for sale or as impairment indicators are present. If the carrying value of the assets held for sale exceeds the fair value, an impairment is recorded. Of the $17.2 million of assets held for sale not related to the FTFM shutdown as of December 31, 2020, $1.8 million were recorded at fair value. Refer to Note 1, Summary of Significant Accounting Policies, for further details on impairment charges. (2) We recognized impairment charges and recorded certain assets held for sale and right-of-use lease assets associated with the shutdown of the FTFM service offering at fair value as of December 31, 2020. Transportation equipment was measured using market data, while right-of-use lease assets were measured using discounted cash flow analyses. Of the $1.6 million of assets held for sale related to the FTFM shutdown, $1.4 million were recorded at fair value. The discounted cash flow analyses for right-of-use lease assets used a range of discount rates from 3.6% to 4.0%, with a weighted average discount rate of 4.0%. (3) During 2020, we recognized an impairment on one of our right-of-use lease assets. The discounted cash flow analysis performed used a discount rate of 4.1%. Our ownership interests in PSI and MLSI discussed in Note 5, Investments , do not have readily determinable fair values and are accounted for using the measurement alternative in ASC 321-10-35-2. As part of the acquisition of MLS on December 31, 2021, certain assets acquired and liabilities assumed were recorded at their fair values as of the acquisition date. Refer to Note 2, Acquisition, for further details.

Investments

Investments	12 Months Ended
	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Investments	INVESTMENTS Marketable Securities The following table presents the maturities and values of our marketable securities as of the dates shown. December 31, 2021 December 31, 2020 (in millions, except maturities in months) Maturities Amortized Cost Fair Value Amortized Cost Fair Value U.S. treasury and government agencies 23 to 110 $ 19.9 $ 19.6 $ 12.6 $ 12.7 Corporate debt securities 3 to 69 20.3 20.4 21.4 22.2 State and municipal bonds 13 to 96 9.1 9.3 11.9 12.2 Total marketable securities $ 49.3 $ 49.3 $ 45.9 $ 47.1 Equity Investments without Readily Determinable Fair Values The Company’s strategic equity investments without readily determinable fair values include PSI, a provider of telematics and fleet management tools, and MLSI, a transportation technology development company. These investments are being accounted for under ASC 321, Investments - Equity Securities, using the measurement alternative, and their combined values as of December 31, 2021 and 2020 were $36.2 million and $22.3 million, respectively. If the Company identifies observable price changes for identical or similar securities of the same issuer, the equity security is measured at fair value as of the date the observable transaction occurred using Level 3 inputs. The following table summarizes the activity related to these equity investments during the periods presented. Year Ended December 31, (in millions) 2021 2020 2019 Investment in equity securities $ — $ 10.0 $ — Upward adjustments (1) 13.9 8.8 — Cumulative upward adjustments 26.2 (1) Our updated investment value in 2021 was determined using the backsolve method, a valuation approach that uses an option pricing model to value shares based on the price paid for recently issued shares. Equity Investments with Readily Determinable Fair Values On January 12, 2021, the Company purchased a $5.0 million non-controlling interest in TuSimple, a global self-driving technology company. Upon completion of its initial public offering in April 2021, our investment in TuSimple was converted into Class A common shares and is now being accounted for under ASC 321, Investments - Equity Securities . In the year ended December 31, 2021, the Company recognized a pre-tax net gain of $7.7 million on its investment in TuSimple. See Note 4, Fair Value , for additional information on the fair value of our investment in TuSimple. All of our equity investments are included in other noncurrent assets on the consolidated balance sheets with subsequent gains or losses recognized within other expense (income)—net on the consolidated statements of comprehensive income.

Goodwill

Goodwill	12 Months Ended
	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	GOODWILL Goodwill represents the excess of the purchase price of acquisitions over the fair value of the identifiable net assets acquired. The following table shows changes to our goodwill balances by segment during the years ended December 31, 2021 and 2020. (in millions) Truckload Logistics Other Total Balance at December 31, 2019 $ 103.6 $ 14.2 $ 9.7 $ 127.5 Foreign currency translation adjustment — — 0.6 0.6 Balance at December 31, 2020 103.6 14.2 10.3 128.1 Acquisition (see Note 2) 122.7 — — 122.7 Goodwill impairment charge — — (10.6) (10.6) Foreign currency translation adjustment — — 0.3 0.3 Balance at December 31, 2021 $ 226.3 $ 14.2 $ — $ 240.5 At December 31, 2021 and 2020, we had accumulated goodwill impairment charges of $53.2 million and $42.6 million, respectively, which consisted of $34.6 million and $18.6 million in our Truckload reporting segment and Other, as of December 31, 2021, and $34.6 million and $8.0 million in our Truckload reporting segment and Other, as of December 31, 2020. Goodwill is tested for impairment at least annually using the discounted cash flow and guideline public company methods to calculate the fair values of our reporting units. Key inputs used in the discounted cash flow approach include growth rates for sales and operating profit, perpetuity growth assumptions, and discount rates. If interest rates rise, the calculated fair values of our reporting units will decrease, which could impact the results of our goodwill impairment tests. In the fourth quarter of 2021, annual impairment tests were performed on all three of our reporting units with goodwill as of October 31, 2021, our assessment date. An impairment loss of $10.6 million was recorded for our Asia reporting unit as the discounted cash flows expected to be generated by the reporting unit were not sufficient to recover its carrying value. This represented all of the remaining goodwill related to the Asia reporting unit. No impairments resulted for our remaining reporting units.

Debt and Credit Facilities

Debt and Credit Facilities	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Debt and Credit Facilities	DEBT AND CREDIT FACILITIES As of December 31, 2021 and 2020, debt included the following: (in millions) December 31, 2021 December 31, 2020 Unsecured senior notes: principal payable at maturities ranging from 2022 through 2025; interest payable in semiannual installments through the same timeframe; weighted-average interest rate of 3.61% and 3.64% for 2021 and 2020, respectively $ 265.0 $ 305.0 Current maturities (60.0) (40.0) Debt issuance costs — (0.2) Long-term debt $ 205.0 $ 264.8 Scheduled principal payments of debt subsequent to December 31, 2021 are as follows: (in millions) December 31, 2021 2022 $ 60.0 2023 70.0 2024 40.0 2025 95.0 Total $ 265.0 Our Credit Agreement (the “2018 Credit Facility”) provides borrowing capacity of $250.0 million and allows us to request an increase in total commitment by up to $150.0 million, for a total potential commitment of $400.0 million through August 2023. The agreement also provides a sublimit of $100.0 million to be used for the issuance of letters of credit. We had no outstanding borrowings under this agreement as of December 31, 2021 or 2020. Standby letters of credit under this agreement amounted to $3.9 million at both December 31, 2021 and 2020, and were primarily related to the requirements of certain of our real estate leases. On July 30, 2021, we entered into Amendment No. 3 to our Amended and Restated Receivables Purchase Agreement (the “2021 Receivables Purchase Agreement”), which allows us to borrow funds against qualifying trade receivables at rates based on one-month LIBOR up to $150.0 million and provides for the issuance of standby letters of credit through July 2024. We had no outstanding borrowings under this facility at December 31, 2021 or 2020. At December 31, 2021 and 2020, standby letters of credit under this agreement amounted to $70.3 million and were primarily related to the requirements of certain of our insurance obligations. The credit agreements contain various financial and other covenants, including required minimum consolidated net worth, consolidated net debt, limitations on indebtedness, transactions with affiliates, shareholder debt, and restricted payments. The credit agreements and senior notes contain change of control provisions pursuant to which a change of control is defined to mean the Schneider family no longer owns more than 50% of the combined voting power of our capital shares. A change of control event causes an immediate termination of unused commitments under the credit agreements and requires repayment of all outstanding borrowings plus accrued interest and fees. The senior notes require us to provide notice to the note holders offering prepayment of the outstanding principal along with interest accrued to the date of prepayment. The prepayment date is required to be within 20 to 60 days from the date of notice. At December 31, 2021, the Company was in compliance with all financial covenants.

Leases

Leases	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Operating Leases	LEASES As Lessee We lease real estate and equipment under operating and finance leases. Our real estate operating leases include operating centers, distribution warehouses, offices, and drop yards. Our non-real estate operating leases and finance leases include transportation, office, yard, and warehouse equipment, in addition to truck washes. The majority of our leases include an option to extend the lease, and a small number include an option to terminate the lease early, which may include a termination payment. If we are reasonably certain to exercise an option to extend a lease, the extension period is included as part of the right-of-use asset and lease liability. For our real estate leases, we have elected to apply the recognition requirement to leases of twelve months or less; therefore, an operating lease right-of-use asset and liability will be recognized for all of these leases. For our equipment leases, we have elected to not apply the recognition requirements to leases of twelve months or less. These leases will be expensed on a straight-line basis and no operating lease right-of-use asset or liability will be recorded. We have also elected to not separate the different components within the contract for our leases; therefore, all fixed costs associated with the lease are included in the right-of-use asset and the operating lease liability. This often relates to the requirement for us to pay a proportionate share of real estate taxes, insurance, common area maintenance, and other operating costs in addition to a base or fixed rent. Some of our leases have variable payment amounts, and the variable portions of those payments are excluded from the right-of-use asset and lease liability. At the inception of our contracts, we determine if the contract is or contains a lease. A contract is or contains a lease if it conveys the right to control the use of an identified asset for a period of time in exchange for consideration. None of our leases contain restrictions or covenants that restrict us from incurring other financial obligations. Operating lease right-of-use assets and operating lease liabilities are recognized based on the present value of the future lease payments over the term. Our incremental borrowing rates are used as the discount rates for leases and are determined based on U.S. Treasury rates plus an applicable margin. Schneider uses multiple discount rates based on lease terms. The following table presents our net lease costs for the years ended December 31, 2021, 2020, and 2019. Financial Statement Classification Year Ended December 31, (in millions) 2021 2020 2019 Operating lease cost Operating lease cost Operating supplies and expenses $ 31.3 $ 29.5 $ 32.5 Short-term lease cost (1) Operating supplies and expenses 3.0 3.1 7.6 Finance lease cost Amortization of right-of-use assets Depreciation and amortization 0.8 0.5 3.2 Interest on lease liabilities Interest expense 0.1 0.1 0.2 Variable lease cost Operating supplies and expenses 0.9 2.2 2.6 Sublease income Operating supplies and expenses (4.5) (4.5) (5.4) Total net lease cost $ 31.6 $ 30.9 $ 40.7 (1) Includes short-term lease costs for leases twelve months or less, including those with a duration of one month or less. As of December 31, 2021 and 2020, remaining lease terms and discount rates under operating and finance leases were as follows: December 31, 2021 December 31, 2020 Weighted-average remaining lease term Operating leases 3.6 years 4.1 years Finance leases 3.8 years 4.6 years Weighted-average discount rate (1) Operating leases 3.3 % 3.8 % Finance leases 2.5 % 3.2 % (1) Determined based on a portfolio approach. Additional information related to our leases is as follows: Year Ended December 31, (in millions) 2021 2020 2019 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows for operating leases $ 31.4 $ 34.7 $ 35.3 Operating cash flows for finance leases 0.1 0.1 0.2 Financing cash flows for finance leases 0.8 0.6 6.9 Right-of-use assets obtained in exchange for new lease liabilities Operating leases $ 28.7 $ 23.7 $ 29.4 Finance leases 4.1 0.8 1.4 Operating lease right-of-use assets, current operating lease liabilities, and noncurrent operating lease liabilities are included in internal use software and other noncurrent assets, other current liabilities, and other noncurrent liabilities, respectively, in the consolidated balance sheets. Operating lease right-of-use assets were $68.6 million and $69.4 million as of December 31, 2021 and 2020, respectively. No impairment losses were recorded on our operating lease right-of-use assets for the year ended December 31, 2021. Total impairment losses on our operating lease right-of-use assets were $0.8 million and $4.1 million for the years ended December 31, 2020 and 2019, respectively. For the years ended December 31, 2020 and 2019, $0.3 million and $3.8 million related to the shutdown of our FTFM service offering, respectively. Refer to Note 16, Restructuring, for additional details on the impairment loss related to the FTFM service offering shutdown. At December 31, 2021, future lease payments under operating and finance leases were as follows: (in millions) Operating Leases Finance Leases 2022 $ 26.3 $ 1.5 2023 21.2 1.5 2024 14.6 1.4 2025 10.2 1.0 2026 5.1 0.1 2027 and thereafter 1.6 — Total 79.0 5.5 Amount representing interest (4.5) (0.2) Present value of lease payments 74.5 5.3 Current maturities (24.4) (1.4) Long-term lease obligations $ 50.1 $ 3.9 For certain of our real estate leases, there are options contained within the lease agreement to extend beyond the initial lease term. The Company recognizes options as right-of-use assets and lease liabilities when deemed reasonably certain to be exercised. Future operating lease payments at December 31, 2021 include $4.0 million related to options to extend lease terms that we are reasonably certain to exercise. As of December 31, 2021, we had several leases that were signed but had not yet commenced totaling $5.5 million. These leases will commence in 2022 and have lease terms of one The consolidated balance sheets include right-of-use assets acquired under finance leases as components of property and equipment as of December 31, 2021 and 2020. Real and other property under finance leases are being amortized to a zero net book value over the initial lease term. (in millions) December 31, 2021 December 31, 2020 Transportation equipment $ 1.2 $ — Real property 0.7 0.7 Other property 5.5 2.7 Accumulated amortization (2.3) (1.6) Total $ 5.1 $ 1.8 As Lessor We finance various types of transportation-related equipment for independent third parties under lease contracts which are generally for one In addition, we also collect one-time administrative fees and heavy vehicle use tax on our leases. We have elected to not separate the different components within the contract as the administrative fees were not material for the years ended December 31, 2021, 2020, and 2019. We have also elected to exclude all taxes assessed by a governmental authority from the consideration (e.g., heavy vehicle use tax). All of our leases require fixed payments, therefore we have no variable payment provisions. As of December 31, 2021 and 2020, investments in lease receivables were as follows: (in millions) December 31, 2021 December 31, 2020 Future minimum payments to be received on leases $ 193.9 $ 159.0 Guaranteed residual lease values 123.3 107.6 Total minimum lease payments to be received 317.2 266.6 Unearned income (46.5) (38.5) Net investment in leases $ 270.7 $ 228.1 The amounts to be received on lease receivables as of December 31, 2021 were as follows: (in millions) December 31, 2021 2022 $ 138.1 2023 102.0 2024 76.4 2025 0.7 Total undiscounted lease cash flows 317.2 Amount representing interest (46.5) Present value of lease receivables 270.7 Current lease receivables—net of allowance (110.6) Long-term lease receivable $ 160.1 Prior to entering a lease contract, we assess the credit quality of the potential lessee using credit checks and other relevant factors, ensuring that the inherent credit risk is consistent with our existing lease portfolio. Given our leases have fully guaranteed residual values and we can take possession of the transportation-related equipment in the event of default, we do not categorize net investment in leases by different credit quality indicators upon origination. We monitor our lease portfolio weekly by tracking amounts past due, days past due, and outstanding maintenance account balances, including performing subsequent credit checks as needed. Our net investment in leases with any portion past due as of December 31, 2021 was $47.3 million, which includes both current and future lease payments. Lease payments are generally due on a weekly basis and are classified as past due when the weekly payment is not received by its due date. As of December 31, 2021, our lease payments past due were $3.6 million. Leases are generally placed on nonaccrual status (nonaccrual of interest and other fees) when a payment becomes 90 days past due or upon notification of bankruptcy, death, or other instances management concludes collectability is not reasonably assured. The accrual of interest and other fees resumes when all payments are less than 60 days past due. The table below provides additional information on our sales-type leases. Revenue and cost of goods sold are recorded in operating revenues and operating supplies and expenses in the consolidated statements of comprehensive income, respectively. Year Ended December 31, (in millions) 2021 2020 2019 Revenue $ 206.1 $ 206.3 $ 196.0 Cost of goods sold (177.6) (185.6) (177.1) Operating profit $ 28.5 $ 20.7 $ 18.9 Interest income on lease receivable $ 32.4 $ 26.5 $ 27.3
Finance Leases	LEASES As Lessee We lease real estate and equipment under operating and finance leases. Our real estate operating leases include operating centers, distribution warehouses, offices, and drop yards. Our non-real estate operating leases and finance leases include transportation, office, yard, and warehouse equipment, in addition to truck washes. The majority of our leases include an option to extend the lease, and a small number include an option to terminate the lease early, which may include a termination payment. If we are reasonably certain to exercise an option to extend a lease, the extension period is included as part of the right-of-use asset and lease liability. For our real estate leases, we have elected to apply the recognition requirement to leases of twelve months or less; therefore, an operating lease right-of-use asset and liability will be recognized for all of these leases. For our equipment leases, we have elected to not apply the recognition requirements to leases of twelve months or less. These leases will be expensed on a straight-line basis and no operating lease right-of-use asset or liability will be recorded. We have also elected to not separate the different components within the contract for our leases; therefore, all fixed costs associated with the lease are included in the right-of-use asset and the operating lease liability. This often relates to the requirement for us to pay a proportionate share of real estate taxes, insurance, common area maintenance, and other operating costs in addition to a base or fixed rent. Some of our leases have variable payment amounts, and the variable portions of those payments are excluded from the right-of-use asset and lease liability. At the inception of our contracts, we determine if the contract is or contains a lease. A contract is or contains a lease if it conveys the right to control the use of an identified asset for a period of time in exchange for consideration. None of our leases contain restrictions or covenants that restrict us from incurring other financial obligations. Operating lease right-of-use assets and operating lease liabilities are recognized based on the present value of the future lease payments over the term. Our incremental borrowing rates are used as the discount rates for leases and are determined based on U.S. Treasury rates plus an applicable margin. Schneider uses multiple discount rates based on lease terms. The following table presents our net lease costs for the years ended December 31, 2021, 2020, and 2019. Financial Statement Classification Year Ended December 31, (in millions) 2021 2020 2019 Operating lease cost Operating lease cost Operating supplies and expenses $ 31.3 $ 29.5 $ 32.5 Short-term lease cost (1) Operating supplies and expenses 3.0 3.1 7.6 Finance lease cost Amortization of right-of-use assets Depreciation and amortization 0.8 0.5 3.2 Interest on lease liabilities Interest expense 0.1 0.1 0.2 Variable lease cost Operating supplies and expenses 0.9 2.2 2.6 Sublease income Operating supplies and expenses (4.5) (4.5) (5.4) Total net lease cost $ 31.6 $ 30.9 $ 40.7 (1) Includes short-term lease costs for leases twelve months or less, including those with a duration of one month or less. As of December 31, 2021 and 2020, remaining lease terms and discount rates under operating and finance leases were as follows: December 31, 2021 December 31, 2020 Weighted-average remaining lease term Operating leases 3.6 years 4.1 years Finance leases 3.8 years 4.6 years Weighted-average discount rate (1) Operating leases 3.3 % 3.8 % Finance leases 2.5 % 3.2 % (1) Determined based on a portfolio approach. Additional information related to our leases is as follows: Year Ended December 31, (in millions) 2021 2020 2019 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows for operating leases $ 31.4 $ 34.7 $ 35.3 Operating cash flows for finance leases 0.1 0.1 0.2 Financing cash flows for finance leases 0.8 0.6 6.9 Right-of-use assets obtained in exchange for new lease liabilities Operating leases $ 28.7 $ 23.7 $ 29.4 Finance leases 4.1 0.8 1.4 Operating lease right-of-use assets, current operating lease liabilities, and noncurrent operating lease liabilities are included in internal use software and other noncurrent assets, other current liabilities, and other noncurrent liabilities, respectively, in the consolidated balance sheets. Operating lease right-of-use assets were $68.6 million and $69.4 million as of December 31, 2021 and 2020, respectively. No impairment losses were recorded on our operating lease right-of-use assets for the year ended December 31, 2021. Total impairment losses on our operating lease right-of-use assets were $0.8 million and $4.1 million for the years ended December 31, 2020 and 2019, respectively. For the years ended December 31, 2020 and 2019, $0.3 million and $3.8 million related to the shutdown of our FTFM service offering, respectively. Refer to Note 16, Restructuring, for additional details on the impairment loss related to the FTFM service offering shutdown. At December 31, 2021, future lease payments under operating and finance leases were as follows: (in millions) Operating Leases Finance Leases 2022 $ 26.3 $ 1.5 2023 21.2 1.5 2024 14.6 1.4 2025 10.2 1.0 2026 5.1 0.1 2027 and thereafter 1.6 — Total 79.0 5.5 Amount representing interest (4.5) (0.2) Present value of lease payments 74.5 5.3 Current maturities (24.4) (1.4) Long-term lease obligations $ 50.1 $ 3.9 For certain of our real estate leases, there are options contained within the lease agreement to extend beyond the initial lease term. The Company recognizes options as right-of-use assets and lease liabilities when deemed reasonably certain to be exercised. Future operating lease payments at December 31, 2021 include $4.0 million related to options to extend lease terms that we are reasonably certain to exercise. As of December 31, 2021, we had several leases that were signed but had not yet commenced totaling $5.5 million. These leases will commence in 2022 and have lease terms of one The consolidated balance sheets include right-of-use assets acquired under finance leases as components of property and equipment as of December 31, 2021 and 2020. Real and other property under finance leases are being amortized to a zero net book value over the initial lease term. (in millions) December 31, 2021 December 31, 2020 Transportation equipment $ 1.2 $ — Real property 0.7 0.7 Other property 5.5 2.7 Accumulated amortization (2.3) (1.6) Total $ 5.1 $ 1.8 As Lessor We finance various types of transportation-related equipment for independent third parties under lease contracts which are generally for one In addition, we also collect one-time administrative fees and heavy vehicle use tax on our leases. We have elected to not separate the different components within the contract as the administrative fees were not material for the years ended December 31, 2021, 2020, and 2019. We have also elected to exclude all taxes assessed by a governmental authority from the consideration (e.g., heavy vehicle use tax). All of our leases require fixed payments, therefore we have no variable payment provisions. As of December 31, 2021 and 2020, investments in lease receivables were as follows: (in millions) December 31, 2021 December 31, 2020 Future minimum payments to be received on leases $ 193.9 $ 159.0 Guaranteed residual lease values 123.3 107.6 Total minimum lease payments to be received 317.2 266.6 Unearned income (46.5) (38.5) Net investment in leases $ 270.7 $ 228.1 The amounts to be received on lease receivables as of December 31, 2021 were as follows: (in millions) December 31, 2021 2022 $ 138.1 2023 102.0 2024 76.4 2025 0.7 Total undiscounted lease cash flows 317.2 Amount representing interest (46.5) Present value of lease receivables 270.7 Current lease receivables—net of allowance (110.6) Long-term lease receivable $ 160.1 Prior to entering a lease contract, we assess the credit quality of the potential lessee using credit checks and other relevant factors, ensuring that the inherent credit risk is consistent with our existing lease portfolio. Given our leases have fully guaranteed residual values and we can take possession of the transportation-related equipment in the event of default, we do not categorize net investment in leases by different credit quality indicators upon origination. We monitor our lease portfolio weekly by tracking amounts past due, days past due, and outstanding maintenance account balances, including performing subsequent credit checks as needed. Our net investment in leases with any portion past due as of December 31, 2021 was $47.3 million, which includes both current and future lease payments. Lease payments are generally due on a weekly basis and are classified as past due when the weekly payment is not received by its due date. As of December 31, 2021, our lease payments past due were $3.6 million. Leases are generally placed on nonaccrual status (nonaccrual of interest and other fees) when a payment becomes 90 days past due or upon notification of bankruptcy, death, or other instances management concludes collectability is not reasonably assured. The accrual of interest and other fees resumes when all payments are less than 60 days past due. The table below provides additional information on our sales-type leases. Revenue and cost of goods sold are recorded in operating revenues and operating supplies and expenses in the consolidated statements of comprehensive income, respectively. Year Ended December 31, (in millions) 2021 2020 2019 Revenue $ 206.1 $ 206.3 $ 196.0 Cost of goods sold (177.6) (185.6) (177.1) Operating profit $ 28.5 $ 20.7 $ 18.9 Interest income on lease receivable $ 32.4 $ 26.5 $ 27.3
Sales-type Leases	LEASES As Lessee We lease real estate and equipment under operating and finance leases. Our real estate operating leases include operating centers, distribution warehouses, offices, and drop yards. Our non-real estate operating leases and finance leases include transportation, office, yard, and warehouse equipment, in addition to truck washes. The majority of our leases include an option to extend the lease, and a small number include an option to terminate the lease early, which may include a termination payment. If we are reasonably certain to exercise an option to extend a lease, the extension period is included as part of the right-of-use asset and lease liability. For our real estate leases, we have elected to apply the recognition requirement to leases of twelve months or less; therefore, an operating lease right-of-use asset and liability will be recognized for all of these leases. For our equipment leases, we have elected to not apply the recognition requirements to leases of twelve months or less. These leases will be expensed on a straight-line basis and no operating lease right-of-use asset or liability will be recorded. We have also elected to not separate the different components within the contract for our leases; therefore, all fixed costs associated with the lease are included in the right-of-use asset and the operating lease liability. This often relates to the requirement for us to pay a proportionate share of real estate taxes, insurance, common area maintenance, and other operating costs in addition to a base or fixed rent. Some of our leases have variable payment amounts, and the variable portions of those payments are excluded from the right-of-use asset and lease liability. At the inception of our contracts, we determine if the contract is or contains a lease. A contract is or contains a lease if it conveys the right to control the use of an identified asset for a period of time in exchange for consideration. None of our leases contain restrictions or covenants that restrict us from incurring other financial obligations. Operating lease right-of-use assets and operating lease liabilities are recognized based on the present value of the future lease payments over the term. Our incremental borrowing rates are used as the discount rates for leases and are determined based on U.S. Treasury rates plus an applicable margin. Schneider uses multiple discount rates based on lease terms. The following table presents our net lease costs for the years ended December 31, 2021, 2020, and 2019. Financial Statement Classification Year Ended December 31, (in millions) 2021 2020 2019 Operating lease cost Operating lease cost Operating supplies and expenses $ 31.3 $ 29.5 $ 32.5 Short-term lease cost (1) Operating supplies and expenses 3.0 3.1 7.6 Finance lease cost Amortization of right-of-use assets Depreciation and amortization 0.8 0.5 3.2 Interest on lease liabilities Interest expense 0.1 0.1 0.2 Variable lease cost Operating supplies and expenses 0.9 2.2 2.6 Sublease income Operating supplies and expenses (4.5) (4.5) (5.4) Total net lease cost $ 31.6 $ 30.9 $ 40.7 (1) Includes short-term lease costs for leases twelve months or less, including those with a duration of one month or less. As of December 31, 2021 and 2020, remaining lease terms and discount rates under operating and finance leases were as follows: December 31, 2021 December 31, 2020 Weighted-average remaining lease term Operating leases 3.6 years 4.1 years Finance leases 3.8 years 4.6 years Weighted-average discount rate (1) Operating leases 3.3 % 3.8 % Finance leases 2.5 % 3.2 % (1) Determined based on a portfolio approach. Additional information related to our leases is as follows: Year Ended December 31, (in millions) 2021 2020 2019 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows for operating leases $ 31.4 $ 34.7 $ 35.3 Operating cash flows for finance leases 0.1 0.1 0.2 Financing cash flows for finance leases 0.8 0.6 6.9 Right-of-use assets obtained in exchange for new lease liabilities Operating leases $ 28.7 $ 23.7 $ 29.4 Finance leases 4.1 0.8 1.4 Operating lease right-of-use assets, current operating lease liabilities, and noncurrent operating lease liabilities are included in internal use software and other noncurrent assets, other current liabilities, and other noncurrent liabilities, respectively, in the consolidated balance sheets. Operating lease right-of-use assets were $68.6 million and $69.4 million as of December 31, 2021 and 2020, respectively. No impairment losses were recorded on our operating lease right-of-use assets for the year ended December 31, 2021. Total impairment losses on our operating lease right-of-use assets were $0.8 million and $4.1 million for the years ended December 31, 2020 and 2019, respectively. For the years ended December 31, 2020 and 2019, $0.3 million and $3.8 million related to the shutdown of our FTFM service offering, respectively. Refer to Note 16, Restructuring, for additional details on the impairment loss related to the FTFM service offering shutdown. At December 31, 2021, future lease payments under operating and finance leases were as follows: (in millions) Operating Leases Finance Leases 2022 $ 26.3 $ 1.5 2023 21.2 1.5 2024 14.6 1.4 2025 10.2 1.0 2026 5.1 0.1 2027 and thereafter 1.6 — Total 79.0 5.5 Amount representing interest (4.5) (0.2) Present value of lease payments 74.5 5.3 Current maturities (24.4) (1.4) Long-term lease obligations $ 50.1 $ 3.9 For certain of our real estate leases, there are options contained within the lease agreement to extend beyond the initial lease term. The Company recognizes options as right-of-use assets and lease liabilities when deemed reasonably certain to be exercised. Future operating lease payments at December 31, 2021 include $4.0 million related to options to extend lease terms that we are reasonably certain to exercise. As of December 31, 2021, we had several leases that were signed but had not yet commenced totaling $5.5 million. These leases will commence in 2022 and have lease terms of one The consolidated balance sheets include right-of-use assets acquired under finance leases as components of property and equipment as of December 31, 2021 and 2020. Real and other property under finance leases are being amortized to a zero net book value over the initial lease term. (in millions) December 31, 2021 December 31, 2020 Transportation equipment $ 1.2 $ — Real property 0.7 0.7 Other property 5.5 2.7 Accumulated amortization (2.3) (1.6) Total $ 5.1 $ 1.8 As Lessor We finance various types of transportation-related equipment for independent third parties under lease contracts which are generally for one In addition, we also collect one-time administrative fees and heavy vehicle use tax on our leases. We have elected to not separate the different components within the contract as the administrative fees were not material for the years ended December 31, 2021, 2020, and 2019. We have also elected to exclude all taxes assessed by a governmental authority from the consideration (e.g., heavy vehicle use tax). All of our leases require fixed payments, therefore we have no variable payment provisions. As of December 31, 2021 and 2020, investments in lease receivables were as follows: (in millions) December 31, 2021 December 31, 2020 Future minimum payments to be received on leases $ 193.9 $ 159.0 Guaranteed residual lease values 123.3 107.6 Total minimum lease payments to be received 317.2 266.6 Unearned income (46.5) (38.5) Net investment in leases $ 270.7 $ 228.1 The amounts to be received on lease receivables as of December 31, 2021 were as follows: (in millions) December 31, 2021 2022 $ 138.1 2023 102.0 2024 76.4 2025 0.7 Total undiscounted lease cash flows 317.2 Amount representing interest (46.5) Present value of lease receivables 270.7 Current lease receivables—net of allowance (110.6) Long-term lease receivable $ 160.1 Prior to entering a lease contract, we assess the credit quality of the potential lessee using credit checks and other relevant factors, ensuring that the inherent credit risk is consistent with our existing lease portfolio. Given our leases have fully guaranteed residual values and we can take possession of the transportation-related equipment in the event of default, we do not categorize net investment in leases by different credit quality indicators upon origination. We monitor our lease portfolio weekly by tracking amounts past due, days past due, and outstanding maintenance account balances, including performing subsequent credit checks as needed. Our net investment in leases with any portion past due as of December 31, 2021 was $47.3 million, which includes both current and future lease payments. Lease payments are generally due on a weekly basis and are classified as past due when the weekly payment is not received by its due date. As of December 31, 2021, our lease payments past due were $3.6 million. Leases are generally placed on nonaccrual status (nonaccrual of interest and other fees) when a payment becomes 90 days past due or upon notification of bankruptcy, death, or other instances management concludes collectability is not reasonably assured. The accrual of interest and other fees resumes when all payments are less than 60 days past due. The table below provides additional information on our sales-type leases. Revenue and cost of goods sold are recorded in operating revenues and operating supplies and expenses in the consolidated statements of comprehensive income, respectively. Year Ended December 31, (in millions) 2021 2020 2019 Revenue $ 206.1 $ 206.3 $ 196.0 Cost of goods sold (177.6) (185.6) (177.1) Operating profit $ 28.5 $ 20.7 $ 18.9 Interest income on lease receivable $ 32.4 $ 26.5 $ 27.3

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES On March 27, 2020, President Trump signed the CARES Act into U.S. federal law aimed at providing emergency assistance and health care for individuals, families, and businesses affected by COVID-19 and generally supporting the U.S. economy. The CARES Act included a provision for the deferment of the employer portion of social security taxes through December 31, 2020, among other things, which the Company elected. As of December 31, 2021, the deferred employer social security taxes have been paid, which totaled $30.7 million as of December 31, 2020. The components of the provision for income taxes for the years ended December 31, 2021, 2020, and 2019 were as follows: (in millions) 2021 2020 2019 Current: Federal $ 112.5 $ 60.4 $ 43.0 State and other 22.1 9.1 8.3 134.6 69.5 51.3 Deferred: Federal 0.8 (1.4) (1.3) State and other 1.2 3.1 1.1 2.0 1.7 (0.2) Total provision for income taxes $ 136.6 $ 71.2 $ 51.1 Foreign operations of the Company are insignificant in relation to our overall operating results. The provision for income taxes for the years ended December 31, 2021, 2020, and 2019 differed from the amounts computed using the federal statutory rate in effect as follows: 2021 2020 2019 (in millions, except percentages) Dollar Impact Rate Dollar Impact Rate Dollar Impact Rate Income tax at federal statutory rate $ 113.8 21.0 % $ 59.4 21.0 % $ 41.6 21.0 % State tax—net of federal effect 18.9 3.5 9.7 3.4 8.1 4.1 Other—net 3.9 0.7 2.1 0.8 1.4 0.7 Total provision for income taxes $ 136.6 25.2 % $ 71.2 25.2 % $ 51.1 25.8 % The components of the net deferred tax liability included in deferred income taxes in the consolidated balance sheets as of December 31, 2021 and 2020, were as follows: (in millions) 2021 2020 Deferred tax assets: Compensation and employee benefits $ 10.1 $ 10.2 Operating lease liabilities 17.8 18.5 State net operating losses and credit carryforwards 9.3 11.5 Other 10.5 8.6 Total gross deferred tax assets 47.7 48.8 Valuation allowance (2.5) (2.6) Total deferred tax assets—net of valuation allowance 45.2 46.2 Deferred tax liabilities: Property and equipment 456.5 462.6 Prepaid expenses 5.5 4.3 Intangible assets 7.9 5.9 Operating lease right-of-use assets 16.5 16.6 Other 9.8 7.2 Total gross deferred tax liabilities 496.2 496.6 Net deferred tax liability $ 451.0 $ 450.4 Unrecognized Tax Benefits Our unrecognized tax benefits as of December 31, 2021 would reduce the provision for income taxes if subsequently recognized. Potential interest and penalties related to unrecognized tax benefits are recorded in income tax expense. Accrued interest and penalties for such unrecognized tax benefits as of December 31, 2021 and 2020 were $2.7 million and $2.4 million, respectively. We expect no significant increases or decreases for unrecognized tax benefits during the twelve months immediately following the December 31, 2021 reporting date. As of December 31, 2021, 2020, and 2019, a reconciliation of the beginning and ending unrecognized tax benefits, which is recorded as other noncurrent liabilities in the consolidated balance sheets, is as follows: (in millions) 2021 2020 2019 Gross unrecognized tax benefits—beginning of year $ 4.3 $ 4.3 $ 3.3 Gross increases—tax positions related to current year 0.9 0.3 0.6 Gross increases (decreases)—tax positions taken in prior years — (0.3) 0.4 Gross unrecognized tax benefits—end of year $ 5.2 $ 4.3 $ 4.3 Tax Examinations We file a U.S. federal income tax return, as well as income tax returns in a majority of state tax jurisdictions. We also file returns in foreign jurisdictions. The years 2018, 2019, and 2020 are open for examination by the IRS, and various years are open for examination by state and foreign tax authorities. In October 2021, the statute for 2017 expired. State and foreign jurisdictional statutes of limitations generally range from three to four years. Carryforwards As of December 31, 2021, we had $162.1 million of state net operating loss carryforwards which are subject to expiration from 2022 to 2042. The deferred tax assets related to carryforwards at December 31, 2021 were $9.3 million for state net operating loss carryforwards. Carryforwards are reviewed for recoverability based on historical taxable income, the expected reversals of existing temporary differences, tax-planning strategies, and projections of future taxable income. At December 31, 2021, we carried a total valuation allowance of $2.5 million against state deferred tax assets.

Common Equity

Common Equity	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Common Equity	COMMON EQUITY Earnings Per Share Year Ended December 31, (in millions, except per share data) 2021 2020 2019 Numerator: Net income available to common shareholders $ 405.4 $ 211.7 $ 147.0 Denominator: Weighted average common shares outstanding 177.6 177.3 177.1 Dilutive effect of share-based awards and options outstanding 0.5 0.3 0.2 Weighted average diluted common shares outstanding 178.1 177.6 177.3 Basic earnings per common share $ 2.28 $ 1.19 $ 0.83 Diluted earnings per common share 2.28 1.19 0.83 The calculation of diluted earnings per share excluded 0.8 million, 0.6 million, and 0.5 million share-based awards and options that had an anti-dilutive effect for the years ended December 31, 2021, 2020, and 2019, respectively. Capital Stock and Rights Our common equity consists of 750.0 million authorized shares of Class B common stock, entitled to one vote per share, and 250.0 million authorized shares of Class A common stock, entitled to 10 votes per share. Our Class B common stock has traded on the NYSE under the symbol “SNDR” since our IPO in April 2017. Our Class A common stock is held by the Schneider National, Inc. Voting Trust for the benefit of members of the Schneider family. Each share of Class A common stock is convertible into one share of Class B common stock. Our Class B common stock is not convertible into any other shares of our capital stock. There is no public trading market for our Class A common stock. Our Amended and Restated Articles of Incorporation provide that holders of our Class A and Class B common stock will be treated equally and ratably on a per share basis with respect to dividends, unless disparate treatment is approved in advance by the vote of the holders of a majority of the outstanding shares of our Class A and Class B common stock, each voting as a separate group. Dividends Declared During 2021, 2020, and 2019, the Company declared cash dividends totaling $0.28, $2.26, and $0.24 per share, respectively. Included in the 2020 amount was a special cash dividend of $2.00 per share, totaling $354.7 million. Subsequent Event - Dividends Declared In January 2022, our Board declared a quarterly cash dividend for the first fiscal quarter of 2022 in the amount of $0.08 per share to holders of our Class A and Class B common stock. The dividend is payable to shareholders of record at the close of business on March 11, 2022 and is expected to be paid on April 8, 2022.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2021
Retirement Benefits [Abstract]
Employee Benefit Plans	EMPLOYEE BENEFIT PLANS We sponsor defined contribution plans for certain eligible employees. Under these plans, annual contribution levels, as defined in the plan agreements, are based upon years of service. Expense under these plans totaled $11.3 million, $10.7 million, and $10.1 million in 2021, 2020, and 2019, respectively, and is classified in salaries, wages, and benefits in the consolidated statements of comprehensive income. We also have a savings plan, organized pursuant to Section 401(k) of the Internal Revenue Code, to provide employees with additional income upon retirement. Under the terms of the plan, substantially all employees may contribute a percentage of their annual compensation, as defined, to the plan. We make contributions to the plan, up to a maximum amount per employee, based on a percentage of employee contributions. Our net expense under this plan was $12.9 million, $11.3 million, and $11.8 million in 2021, 2020, and 2019, respectively.

Share-based Compensation

Share-based Compensation	12 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
Share-based Compensation	SHARE-BASED COMPENSATION We grant various equity-based awards relating to Class B common stock to employees under our 2017 Omnibus Incentive Plan (“the Plan”). These awards consist of restricted shares, restricted stock units (“RSUs”), performance-based restricted shares (“performance shares”), performance-based restricted stock units (“PSUs”), and non-qualified stock options. Performance shares and PSUs granted prior to 2021 are earned based on attainment of threshold performance of earnings and return on capital targets. Beginning with grants in 2021, in addition to achievement of earnings and return on capital targets, a multiplier will be applied to performance share and PSU achievement based on relative total shareholder return (“rTSR”) against a selected peer group over the performance period. We account for our restricted shares, RSUs, performance shares, PSUs, and non-qualified stock options granted as equity awards in accordance with the applicable accounting standards for these types of share-based payments. These standards require that the cost of the awards be recognized in our consolidated financial statements based on the grant date fair value of those awards. This cost is recognized over the period for which an employee is required to provide service in exchange for the award, subject to the attainment of performance metrics established for performance shares and PSUs. Share-based compensation expense is recorded in salaries, wages, and benefits in our consolidated statements of comprehensive income, along with other compensation expenses to employees. The following table summarizes the components of our employee share-based compensation expense. Year Ended December 31, (in millions) 2021 2020 2019 Restricted Shares and RSUs $ 5.8 $ 4.5 $ 3.2 Performance Shares and PSUs 6.1 1.9 (6.0) Non-qualified Stock Options 1.4 0.9 0.5 Share-based compensation expense (benefit) $ 13.3 $ 7.3 $ (2.3) Related tax benefit (expense) $ 3.3 $ 1.8 $ (0.6) As of December 31, 2021, we had $18.9 million of pre-tax unrecognized compensation cost related to outstanding share-based compensation awards that is expected to be recognized over a weighted average period of 2.1 years. Restricted Shares and RSUs Under the Plan, the majority of the restricted shares and RSUs granted vest ratably over a period of four years beginning approximately one year after the date of grant and are subject to continued employment through the vesting date or retirement eligibility. Dividend equivalents, equal to dividends paid on our common shares during the vesting period, are tracked and accumulated for each restricted share and RSU. The dividend equivalents are forfeitable and are distributed to participants in cash consistent with the date the awards vest. Restricted Shares and RSUs Number of Awards Weighted Average Grant Date Fair Value Unvested at December 31, 2018 369,477 $ 23.70 Granted 259,812 22.76 Vested (96,630) 23.30 Forfeited (47,851) 23.05 Unvested at December 31, 2019 484,808 23.34 Granted 259,992 22.04 Vested (141,556) 22.56 Forfeited (13,657) 23.00 Unvested at December 31, 2020 589,587 22.96 Granted 341,508 22.61 Vested (229,226) 22.82 Forfeited (22,610) 22.77 Unvested at December 31, 2021 679,259 $ 22.84 Performance Shares and PSUs Performance shares and PSUs include a performance period of three years with vesting based on attainment of threshold performance of earnings and return on capital targets. These awards cliff-vest after a performance period of three years, subject to continued employment through the vesting date or retirement eligibility, with payout ranging from 0%-200% of the target number of shares for both PSUs and performance shares. The 2021 awards include an additional rTSR component that allows for payout ranging from 0%-250% of the target number of shares. Dividend equivalents equal to dividends paid on our common shares during the vesting period are tracked and accumulated for each award. The dividend equivalents are forfeitable consistent with the date the awards vest and are distributed to participants in cash at the same time as the underlying shares. Performance Shares and PSUs Number of Awards Weighted Average Grant Date Fair Value Unvested at December 31, 2018 638,379 $ 22.64 Granted 449,771 22.49 Vested — — Forfeited (568,429) 21.18 Unvested at December 31, 2019 519,721 24.11 Granted 350,525 22.04 Vested (44,802) 26.80 Forfeited (170,422) 26.68 Unvested at December 31, 2020 655,022 22.15 Granted 439,620 24.44 Vested — — Forfeited (313,362) 22.27 Unvested at December 31, 2021 781,280 $ 23.39 We estimated the grant date fair value of the 2021 performance shares and PSUs using a Monte Carlo simulation which requires assumptions for expected term, volatility, dividend yield, and risk-free interest rate. We used the historical volatility of the peer group to derive the expected volatility of the stock. The risk-free interest rate was based on the U.S. Treasury yield curve in effect at the time of the grant taking into consideration the expected term of the awards. No expected dividend yield was used as the award agreement assumes any dividends distributed during the performance period are reinvested. Assumptions used in the Monte Carlo simulation for awards granted in 2021 were as follows: 2021 Weighted-average Monte Carlo value $ 24.44 Monte Carlo assumptions: Expected term 2.87 years Expected volatility 45.8 % Risk-free interest rate 0.2 Non-qualified Stock Options The options granted under the Plan have an exercise price equal to the fair market value of the underlying stock at the date of grant and vest ratably over a period of four years, with the first 25% of the grant becoming exercisable approximately one year after the date of grant. The options expire ten years from the date of grant. Non-qualified Stock Options Outstanding Number of Awards Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value (1) (in thousands) Outstanding at December 31, 2018 369,004 $ 22.63 8.7 $ — Granted 303,044 22.12 Exercised (2) — — — Forfeited (134,800) 22.87 Outstanding at December 31, 2019 537,248 22.28 8.3 641 Granted 233,636 22.04 Exercised (2) (84,984) 19.00 440 Forfeited — — Outstanding at December 31, 2020 (3) 685,900 20.60 7.1 735 Granted 305,668 22.63 Exercised (2) (42,904) 17.00 243 Forfeited — — Outstanding at December 31, 2021 948,664 $ 21.42 7.3 $ 5,208 Exercisable as of: December 31, 2019 130,563 $ 21.38 7.5 $ 255 December 31, 2020 179,893 21.18 5.8 244 December 31, 2021 329,711 21.15 5.7 1,898 (1) The aggregate intrinsic value was computed using the closing share price on December 31, 2021 of $26.91, December 31, 2020 of $20.70, and December 31, 2019 of $21.82, as applicable. (2) Cash received upon exercise of stock options was $0.7 million in 2021, $1.6 million in 2020, and $0 in 2019. (3) In November 2020, the exercise price of all outstanding options was adjusted downward by $2.00 to equitably adjust for the special dividend paid by the Company on November 19, 2020. Unvested Non-qualified Stock Options Number of Awards Weighted Average Grant Date Fair Value Unvested at December 31, 2018 320,009 $ 7.77 Granted 303,044 7.08 Vested (92,251) 7.59 Forfeited (124,117) 7.63 Unvested at December 31, 2019 406,685 7.34 Granted 233,636 6.34 Vested (134,314) 7.30 Forfeited — — Unvested at December 31, 2020 506,007 6.89 Granted 305,668 5.86 Vested (192,722) 7.01 Forfeited — — Unvested at December 31, 2021 618,953 $ 6.34 We estimated the grant date fair value of option awards using the Black-Scholes option pricing model which uses assumptions over the expected term of the options. We used volatility analysis of comparable companies to determine the expected volatility of the stock and market data to estimate option exercise and employee termination within the valuation model. The expected term of options granted was based on the average of the contractual term and the weighted average of the vesting term, and it represents the average period of time that options granted are expected to be outstanding. The risk-free rate for periods within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. Assumptions used in calculating the Black-Scholes value of options granted during 2021, 2020, and 2019 were as follows: 2021 2020 2019 Weighted-average Black-Scholes value $ 5.86 $ 6.34 $ 7.08 Black-Scholes assumptions: Expected term 6.25 years 6.25 years 6.25 years Expected volatility 30.0 % 31.0 % 32.0 % Expected dividend yield 1.2 1.2 1.0 Risk-free interest rate 0.7 1.6 2.5 Director Share Awards and Deferred Stock Units Equity awards are granted to each director annually on the date of our annual shareholder meeting and accounted for as equity based in accordance with applicable accounting standards for these types of share-based payments. Expense related to our director equity based awards was $1.3 million in 2021, $1.3 million in 2020, and immaterial in 2019. We also grant equity retainer awards, or shares in lieu of cash, on a quarterly basis to our non-employee directors. These awards consist of fully vested shares of our Class B common stock or deferred stock units (“DSUs”). We account for the quarterly director share awards and DSUs as liability based in accordance with the applicable accounting standards for these types of share-based payments and remeasure the DSUs at the end of each reporting period through settlement. Expense related to our director liability based awards was $1.2 million in 2021, $0.9 million in 2020, and immaterial in 2019.

Other Long-Term Incentive Compe

Other Long-Term Incentive Compensation	12 Months Ended
	Dec. 31, 2021
Compensation Related Costs [Abstract]
Other Long-Term Incentive Compensation	OTHER LONG-TERM INCENTIVE COMPENSATION We maintain legacy long-term cash incentive compensation plans, and the total expense (benefit) recognized for these plans was $1.2 million in 2021, $1.6 million in 2020, and $(2.0) million in 2019. Under the 2011 Omnibus Long-term Incentive Plan (the “LTIP”), performance-based Long-Term Cash Awards (“Cash Plan Awards”) and service-based Stock Appreciation Rights (“SARs”) were granted annually to eligible employees, including our executive officers, from 2013-2016 and 2011-2012, respectively. The final year of expense for Cash Plan Awards was 2020, and as of December 31, 2021 all Cash Plan Awards were paid. The liability for the Cash Plan Awards was $2.9 million as of December 31, 2020. The 2011 SARs were paid in March of 2021, and the 2012 SARs are fully vested and will be paid on March 15, 2022. As of December 31, 2021, approximately 0.3 million SARs were outstanding, and the liability was $2.1 million and $5.3 million at December 31, 2021 and 2020, respectively. The 2005 Schneider National, Inc. Long-Term Incentive Plan (the “2005 LTIP”) includes awards of cash-settled retention credits granted to eligible employees, including certain of our named executive officers. The retention credits are mandatorily deferred time-based cash credits which are fully vested and will be paid out in March following the second anniversary of the employee’s termination of employment, provided the employee has not violated the terms of their restrictive covenant agreements. The liability for the retention credits was $8.7 million and $8.8 million at December 31, 2021 and 2020, respectively.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES In the ordinary course of conducting our business, we become involved in certain legal matters and investigations including liability claims, taxes other than income taxes, contract disputes, employment, and other litigation matters. We accrue for anticipated costs to resolve matters that are probable and estimable. We believe the outcomes of these matters will not have a material impact on our business or our consolidated financial statements. We record liabilities for claims against the Company based on our best estimate of expected losses. The primary claims arising for the Company through its trucking, intermodal, and logistics operations consist of accident-related claims for personal injury, collision, and comprehensive compensation, in addition to workers’ compensation, property damage, cargo, and wage and benefit claims. We maintain excess liability insurance with licensed insurance carriers for liability in excess of amounts we self-insure, which serves to largely offset the Company’s liability associated with these claims, with the exception of wage and benefit claims for which we self-insure. We review our accruals periodically to ensure that the aggregate amounts of our accruals are appropriate at any period after consideration of available insurance coverage. Although we expect that our claims accruals will continue to vary based on future developments, assuming that we are able to continue to obtain and maintain excess liability insurance coverage for such claims, we do not anticipate that such accruals will, in any period, materially impact our results of operations. At December 31, 2021, our firm commitments to purchase transportation equipment totaled $337.3 million. A representative of the former owners of WSL has filed a lawsuit in the Delaware Court of Chancery which primarily alleges that we have not fulfilled certain obligations under the purchase and sale agreement relating to the post-closing operations of the business, and as a result, the former owners claim they are entitled to damages including an additional payment of $40.0 million under an earn-out arrangement which was a component of the purchase price in the transaction. The Delaware Court of Chancery completed a remote trial in January 2021. Post-trial briefs have been filed, and the Court’s decision is pending. A judgment by the Court against us in this matter could have a material adverse effect on our operating results. We believe we have presented strong defenses to this claim. In 2020, the Company recorded $12.8 million of expense and paid $13.7 million as a result of an adverse tax ruling in a dispute with the IRS over the applicability of excise taxes on certain tractors refurbished during tax years 2011 through 2013 and no longer in service. In December 2020, the Company filed an appeal with the U.S. Court of Appeals for the Seventh Circuit, and in August 2021, the Seventh Circuit reversed the District Court and ruled in the Company’s favor on all matters. In November 2021, after receiving confirmation from the IRS of the refund amount, the Company concluded that recovery was probable and recorded a $13.5 million refund receivable for such taxes and related interest.

Segment Reporting

Segment Reporting	12 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
Segment Reporting	SEGMENT REPORTING We have three reportable segments – Truckload, Intermodal, and Logistics – which are based primarily on the services each segment provides. As of December 31, 2018, our operating segments within the Truckload reportable segment were VTL, FTFM, and Bulk. On July 29, 2019 the Board approved a structured shutdown of our FTFM service offering, which was included within our FTFM operating segment. As the shutdown of the FTFM service offering is complete, there are only two remaining operating segments within the Truckload reportable segment, VTL and Bulk, that are aggregated because they have similar economic characteristics and meet the other aggregation criteria described in ASC 280. VTL delivers truckload quantities over irregular routes using dry van trailers. Bulk transports key inputs to manufacturing processes, such as specialty chemicals, using specialty trailers. The Intermodal reportable segment provides rail intermodal and drayage services to our customers. Company owned containers, chassis, and dray tractors are used to provide these transportation services. As of December 31, 2020, our operating segments within the Logistics reportable segment were Brokerage, Supply Chain Management, and Import/Export Services. During 2021, the Company combined the Supply Chain Management and Import/Export Services operating segments into one operating segment. As of December 31, 2021, there are only two remaining operating segments, Brokerage and SCDM, that are aggregated because they have similar economic characteristics and meet the other aggregation criteria described in the accounting guidance for segment reporting. In the Logistics segment, we provide additional sources of truck capacity, manage transportation-systems analysis requirements for individual customers, and provide transloading and warehousing services. We generate other revenues from our leasing and captive insurance businesses which are operated by wholly owned subsidiaries. We also have operations in Asia that meet the definition of an operating segment. None of these operations meet the quantitative reporting thresholds, and a result, are grouped in “Other” in the tables below. Also included in “Other” are revenues and expenses that are incidental to our operations and not attributable to any of the reportable segments. The CODM reviews revenues for each segment without the inclusion of fuel surcharge revenue. For segment purposes, any fuel surcharge revenues earned are recorded as a reduction of the segment’s fuel expenses. Income from operations at the segment level reflects the measure presented to the CODM for each segment. Separate balance sheets are not prepared by segment, and as a result, assets are not separately identifiable by segment. All transactions between reportable segments are eliminated in consolidation. Substantially all of our revenues and assets were generated or located within the U.S. The following tables summarize our segment information. Inter-segment revenues were immaterial for all segments, with the exception of Other, which included revenues from insurance premiums charged to other segments for workers’ compensation, auto, and other types of insurance. Inter-segment revenues included in Other revenues below were $62.4 million, $62.6 million, and $87.1 million for the years ended December 31, 2021, 2020, and 2019, respectively. Revenues by Segment Year Ended December 31, (in millions) 2021 2020 2019 Truckload $ 1,934.9 $ 1,851.0 $ 2,076.8 Intermodal 1,143.1 974.7 1,007.8 Logistics 1,808.7 1,129.3 934.8 Other 365.3 359.0 371.3 Fuel surcharge 444.8 318.3 466.0 Inter-segment eliminations (88.1) (79.5) (109.7) Operating revenues $ 5,608.7 $ 4,552.8 $ 4,747.0 Income (Loss) from Operations by Segment Year Ended December 31, (in millions) 2021 2020 2019 Truckload $ 284.7 $ 187.8 $ 59.0 Intermodal 155.2 75.0 107.7 Logistics 92.4 43.1 37.3 Other 1.4 (19.2) 3.8 Income from operations $ 533.7 $ 286.7 $ 207.8 Depreciation and Amortization by Segment Year Ended December 31, (in millions) 2021 2020 2019 Truckload $ 210.2 $ 210.7 $ 212.3 Intermodal 48.4 46.3 44.6 Logistics 0.2 0.1 0.5 Other 37.4 33.4 35.5 Depreciation and amortization $ 296.2 $ 290.5 $ 292.9

Restructuring

Restructuring	12 Months Ended
	Dec. 31, 2021
Restructuring Charges [Abstract]
Restructuring	RESTRUCTURING On July 29, 2019, the Company’s Board approved a structured shutdown of its FTFM service offering within its Truckload reportable segment which was substantially complete as of August 31, 2019. The pre-tax loss from our FTFM service offering was $34.4 million for the year ended December 31, 2019. As of December 31, 2019, FTFM restructuring liabilities totaled $5.1 million, of which $1.5 million were paid during the year ended December 31, 2020. The remaining FTFM restructuring liabilities, which totaled $4.4 million as of December 31, 2020, were paid during the year ended December 31, 2021. The activity associated with the shutdown is presented separately on the consolidated statements of comprehensive income within restructuring—net and is summarized below on a cumulative basis from July 29, 2019 through December 31, 2020. Restructuring activity for the year ended December 31, 2021 was not material. (in millions) Cumulative Impairment charges and losses on asset disposals—net $ 47.2 Receivable write-downs—net 3.0 Other costs 14.5 Total restructuring—net $ 64.7

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2021
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Schedule II - Valuation and Qualifying Accounts	Schedule II - Valuation and Qualifying Accounts (in millions) Allowance for Doubtful Accounts and Revenue Adjustments for the Year Ended Balance at Beginning of Year Charged to Expense / Against Revenue Write-offs-Net of Recoveries Balance at December 31, 2019 $ 6.8 $ (1.1) $ (2.3) $ 3.4 December 31, 2020 3.4 1.4 (1.1) 3.7 December 31, 2021 3.7 2.3 (0.8) 5.2

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Nature of Operations	Nature of OperationsWe are one of the largest providers of surface transportation and logistics solutions in North America that, through our wholly owned subsidiaries, provides safe, reliable, and innovative truckload, intermodal, and logistics services to a diverse group of customers throughout the continental United States, Canada, and Mexico.
Principles of Consolidation and Basis of Presentation	Principles of Consolidation and Basis of Presentation
Use of Estimates	Use of Estimates We make estimates and assumptions that affect assets, liabilities, the disclosure of contingent liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from these estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash in excess of current operating requirements is invested in short-term, highly liquid investments. We consider all highly liquid investments purchased with original maturities of three months or less to be cash equivalents.
Receivables and Allowance	Receivables and Allowance As of January 1, 2020, we adopted ASU 2016-13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments , which is codified in ASC 326, for our trade account receivable and allowance, as well as our leases. Our trade accounts receivable is recorded net of an allowance for doubtful accounts and revenue adjustments. The allowance is based on an aging analysis using historical experience, as well as any current and forecasted trends or uncertainties related to customer billing and account collectability. The adequacy of our allowance is reviewed at least quarterly, and reserves for receivables not expected to be collected are established. In circumstances where we are aware of a customer’s inability to meet its financial obligations, a specific reserve is recorded to reduce the net receivable to the amount we reasonably expect to collect. Bad debt expense is included in other general expenses in the consolidated statements of comprehensive income.
Inventory	Inventory Our inventories consist of tractors and trailing equipment owned by our equipment leasing company to be sold or leased to owner-operators, as well as parts, tires, supplies, and fuel for use in our Company operations. These inventories are valued at the lower of cost or market using specific identification or average cost. The following table shows the components of our inventory balances as of the dates shown. (in millions) December 31, 2021 December 31, 2020 Tractors and trailing equipment for sale or lease $ 13.3 $ 33.3 Replacement parts 13.2 10.7 Tires and other 0.9 0.9 Total $ 27.4 $ 44.9
Investments in Marketable Securities	Investments in Marketable Securities Our marketable securities are classified as available-for-sale and carried at fair value in current assets on the consolidated balance sheets. While our intent is to hold our securities to maturity, sudden changes in the market or to our liquidity needs may cause us to sell certain securities in advance of their maturity date. We adopted ASU 2016-13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments , which is codified in ASC 326, as of January 1, 2020. Under this guidance, credit losses are recorded through an allowance for credit losses rather than as a direct write-down to the security, and unrealized gains and losses, net of tax, are included as a component of accumulated other comprehensive income on the consolidated balance sheets, unless we determine that the amortized cost basis is not recoverable. If we determine that the amortized cost basis of the impaired security is not recoverable, we recognize the credit loss by increasing the allowance for those losses. We did not have an allowance for credit losses on our marketable securities as of December 31, 2021 and 2020. Cost basis is determined using the specific identification method.
Fair Value	Fair Value Fair value is the estimated price that would be received to sell an asset or paid to transfer a liability. Inputs to valuation techniques used to measure fair value fall into three broad levels (Levels 1, 2, and 3) as follows: Level 1 —Observable inputs that reflect quoted prices for identical assets or liabilities in active markets that we have the ability to access at the measurement date. Level 2 —Observable inputs, other than quoted prices included in Level 1, for the asset or liability or prices for similar assets and liabilities. Level 3 —Unobservable inputs reflecting the reporting entity’s estimates of the assumptions that market participants would use in pricing the asset or liability (including assumptions about risk). Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.
Property and Equipment	Property and Equipment Property and equipment are recorded at cost. Depreciation is calculated using the straight-line method based on the estimated useful lives and residual values. Generally, the estimated useful lives are as follows: 2021 Tractors 3 - 8 years Trailing equipment 6 - 20 years Other transportation equipment 4 - 5 years Buildings and improvements 5 - 25 years Other property 3 - 10 years Salvage values, when applicable, generally don’t exceed 30% or 25% of the original cost for tractors and trailing equipment, respectively, and reflect any agreements with tractor suppliers for residual or trade-in values for certain new equipment. Long-lived assets require an impairment review when events or circumstances indicate that the carrying amount may not be recoverable. We base our evaluation of other long-lived assets on the presence of impairment indicators such as the future economic benefit of the assets, any historical or future profitability measurements, and other external market conditions or factors. The carrying amount of tangible long-lived assets held and used is considered not recoverable if the carrying amount exceeds the undiscounted sum of cash flows expected to result from the use and eventual disposition of the asset. If the carrying amount is not recoverable, the impairment loss is measured as the excess of the asset’s carrying amount over its fair value.
Assets Held for Sale	Assets Held for Sale Assets held for sale consist of revenue equipment and are included in prepaid expenses and other current assets in the consolidated balance sheets. Reclassification to assets held for sale occurs when the required criteria, as defined by ASC 360, Property, Plant and Equipment , are satisfied. Assets held for sale are evaluated for impairment when transferred to held for sale status or as impairment indicators are present. The carrying amount of assets held for sale is not recoverable if the carrying amount exceeds the fair value less estimated costs to sell the asset. An impairment loss is recorded for the excess of the asset’s carrying amount over the fair value less estimated costs to sell. Impairment losses are recorded in operating supplies and expenses in the consolidated statements of comprehensive income. No impairment losses were recorded for the year ended December 31, 2021. For the years ended December 31, 2020 and 2019, total impairment losses were $4.7 million and $42.4 million, respectively. Impairment losses for the year ended December 31, 2019 included a $28.1 million impairment related to the shutdown of our FTFM service offering and an $11.5 million impairment related to a bulk sale of tractors. Assets held for sale by segment as of December 31, 2021 and 2020 were as follows: (in millions) 2021 2020 Truckload (1) $ 0.5 $ 16.9 Intermodal 0.2 1.9 Total $ 0.7 $ 18.8
Internal Use Software and Cloud Computing Arrangements	Internal Use Software and Cloud Computing Arrangements five Additionally, with the adoption of ASU 2018-15 on January 1, 2020, we capitalize certain implementation costs for internal use software incurred in a CCA that is a service contract. CCA implementation costs are amortized on a straight-line basis over the term of the related hosting agreement, taking into consideration renewal options, if any. The renewal period is included in the amortization period if determined that the option is reasonably certain to be exercised. Amortization expense is recorded within operating supplies and expenses on the consolidated statements of comprehensive income, similar to the related hosting fees. We recorded $1.0 million of amortization expense related to CCA implementation costs during the year ended December 31, 2021. There was no amortization expense related to CCA implementation costs during the year ended December 31, 2020. The following table provides information related to our internal use software and CCA implementation costs as of the dates shown. (in millions) December 31, 2021 December 31, 2020 Internal use software $ 319.4 $ 290.7 Less accumulated amortization 225.5 207.6 Net internal use software $ 93.9 $ 83.1 CCA implementation costs $ 10.3 $ 7.3 Less accumulated amortization 1.0 — Net CCA implementation costs (1) $ 9.3 $ 7.3 (1) On the consolidated balance sheets, the current portion of CCA implementation costs are included within prepaid expenses and other current assets and amounted to $1.2 million and $0.1 million for the years ended December 31, 2021 and 2020, respectively, and the noncurrent portion is included in internal use software and other noncurrent assets and amounted to $8.1 million and $7.2 million for the years ended December 31, 2021 and 2020, respectively.
Goodwill	Goodwill Goodwill is tested for impairment annually in October, or more frequently if impairment indicators exist. The carrying amount of a reporting unit’s goodwill is considered not recoverable, and an impairment loss is recorded if the carrying amount of the reporting unit exceeds the reporting unit’s fair value, as determined based on the combination of an income approach and a market approach. See Note 6, Goodwill , for more information on our goodwill.
Revenue Recognition	Revenue Recognition We recognize revenue during the delivery period based on relative transit time in each reporting period, in accordance with ASC 606, with expenses recognized as incurred. Accordingly, a portion of the total revenue that will be billed to the customer once a load is delivered is recognized in each reporting period based on the percentage of the freight delivery service that has been completed at the end of the reporting period. When we use third-party carriers, we generally record revenues on the gross basis at amounts charged to our customers because we are the primary obligor, we are a principal in the transaction, we invoice our customers and retain all credit risks, and we maintain discretion over pricing. Additionally, we are responsible for selection of third-party transportation providers to the extent they are used to satisfy customer freight requirements. We record revenues net of pass-through taxes in our consolidated statements of comprehensive income. For the years ended December 31, 2021, 2020, and 2019, no customer accounted for more than 10% of our consolidated revenues.
Income Taxes	Income Taxes Income taxes are accounted for under the liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized as income or expense in the period that includes the enactment date. We record valuation allowances for deferred tax assets to the extent we do not believe these assets are more-likely-than-not to be realized through the reversal of existing taxable temporary differences, projected future taxable income, or tax-planning strategies. We record a liability for unrecognized tax benefits when the benefits of tax positions taken on a tax return are not more-likely-than-not to be sustained upon audit. Interest and penalties related to uncertain tax positions are classified as income tax expense in the consolidated statements of comprehensive income.
Earnings Per Share	Earnings Per Share We compute basic earnings per share by dividing net income available to common stockholders by the weighted average number of common shares outstanding for the reporting period. Diluted earnings per share reflects the potential dilution that could occur if holders of unvested restricted and performance share units or options were to exercise or convert their holdings into common stock. Awards that would have an anti-dilutive impact are excluded from the calculation.
Share-based Compensation	Share-based Compensation We have share-based compensation plans covering certain employees, including officers and directors. We account for share-based compensation using the fair value recognition provisions of current accounting standards for share-based payments. We grant restricted stock units, restricted shares, performance-based restricted stock units, performance-based restricted shares, and non-qualified stock options. We recognize compensation expense over the requisite service periods within each award. See Note 12, Share-Based Compensation , for more information about our plans.
Claim Accruals	Claims Accruals We are self-insured for loss of and damage to our owned and leased revenue equipment. We purchase insurance coverage for a portion of expenses related to employee injuries, vehicular accidents, and cargo damage. Certain insurance arrangements include a level of self-insurance (deductible) coverage applicable to each claim. We have excess policies to limit our exposure to catastrophic claim costs. The amounts of self-insurance change from time to time based on measurement dates, policy expiration dates, and claim type. Our claims accrual policy for all self-insured claims is to recognize a liability at the time of the incident based on our analysis of the nature and severity of the claims and analyses provided by third-party claims administrators, as well as legal, economic, and regulatory factors. The ultimate cost of a claim develops over time as additional information regarding the nature, timing, and extent of damages claimed becomes available. Accordingly, we use an actuarial method to develop current claim information to derive an estimate of our ultimate claim liability. This process involves the use of loss-development factors based on our historical claims experience and includes a contractual premium adjustment factor, if applicable. In doing so, the recorded liability considers future claims growth and provides an allowance for incurred but not reported claims. We do not discount our estimated losses. At December 31, 2021 and 2020, we had an accrual of $158.3 million and $144.2 million, respectively, for estimated claims net of reinsurance receivables. In addition, we are required to pay certain advanced deposits and monthly premiums. At December 31, 2021 and 2020, we had an aggregate prepaid insurance asset of $11.0 million and $10.6 million, respectively, which represented prefunded premiums and deposits.
Accounting Standards Issued but Not Yet Adopted and Recently Adopted	Accounting Standards Issued but Not Yet Adopted In November 2021, the FASB issued ASU 2021-10, Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance, to increase the transparency of government assistance. This standard requires business entities to disclose information about transactions with a government that are accounted for by applying a grant or contribution model by analogy (for example, IFRS guidance in IAS 20 or guidance on contributions for not-for-profit entities in ASC 958-605), including information about the nature of the transaction, including significant terms and conditions, as well as the amounts and specific financial statement line items affected by the transaction. ASU 2021-10 is effective for us beginning with our December 31, 2022 financial statements, with early adoption permitted. We do not believe the adoption of this standard will have a material impact on our consolidated financial statements or disclosures. Accounting Standards Recently Adopted We adopted ASU 2019-12, Simplifying the Accounting for Income Taxes, which reduces complexity in accounting for income taxes by eliminating certain exceptions to the general principles in Topic 740 and clarifying and amending existing guidance to improve consistent application among reporting entities, as of January 1, 2021. We used the modified retrospective or prospective approach, which was based on the specific amendment implemented, when adopting this standard. The adoption of this standard did not have a material impact on our consolidated financial statements or related disclosures.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Inventory Balances	The following table shows the components of our inventory balances as of the dates shown. (in millions) December 31, 2021 December 31, 2020 Tractors and trailing equipment for sale or lease $ 13.3 $ 33.3 Replacement parts 13.2 10.7 Tires and other 0.9 0.9 Total $ 27.4 $ 44.9
Property and Equipment	Generally, the estimated useful lives are as follows: 2021 Tractors 3 - 8 years Trailing equipment 6 - 20 years Other transportation equipment 4 - 5 years Buildings and improvements 5 - 25 years Other property 3 - 10 years
Assets Held for Sale	Assets held for sale by segment as of December 31, 2021 and 2020 were as follows: (in millions) 2021 2020 Truckload (1) $ 0.5 $ 16.9 Intermodal 0.2 1.9 Total $ 0.7 $ 18.8
Internal Use Software and Cloud Computing Arrangement Implementation Costs	The following table provides information related to our internal use software and CCA implementation costs as of the dates shown. (in millions) December 31, 2021 December 31, 2020 Internal use software $ 319.4 $ 290.7 Less accumulated amortization 225.5 207.6 Net internal use software $ 93.9 $ 83.1 CCA implementation costs $ 10.3 $ 7.3 Less accumulated amortization 1.0 — Net CCA implementation costs (1) $ 9.3 $ 7.3 (1) On the consolidated balance sheets, the current portion of CCA implementation costs are included within prepaid expenses and other current assets and amounted to $1.2 million and $0.1 million for the years ended December 31, 2021 and 2020, respectively, and the noncurrent portion is included in internal use software and other noncurrent assets and amounted to $8.1 million and $7.2 million for the years ended December 31, 2021 and 2020, respectively.

Business Combinations and Ass_2

Business Combinations and Asset Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2021
Business Combination and Asset Acquisition [Abstract]
Schedule of Consideration Transferred	The following table summarizes the purchase price: Purchase Consideration (in millions) December 31, 2021 Cash consideration $ 271.3 Deferred cash consideration 3.2 Fair value of total consideration transferred $ 274.5
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The preliminary purchase price allocation for MLS, which may be adjusted by material amounts as we finalize our fair value estimates and provisional amounts, was as follows: Recognized amounts of identifiable assets acquired and liabilities assumed (in millions) December 31, 2021 Trade accounts receivable—net of allowance $ 18.6 Other receivables 0.9 Prepaid expenses and other current assets 1.6 Transportation equipment 140.8 Land, buildings, and improvements 7.7 Other property and equipment 0.4 Goodwill 122.7 Total assets acquired 292.7 Trade accounts payable 1.8 Accrued salaries, wages, and benefits 1.7 Claims accruals—current 7.5 Other current liabilities 7.2 Total liabilities assumed 18.2 Net assets acquired $ 274.5

Revenue Recognition (Tables)

Revenue Recognition (Tables)	12 Months Ended
	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Disaggregated Revenues	The following table summarizes our revenues by type of service, which are explained in greater detail below. Year Ended December 31, Disaggregated Revenues ( in millions ) 2021 2020 2019 Transportation $ 5,166.7 $ 4,170.0 $ 4,376.6 Logistics Management 219.0 149.7 153.8 Other 223.0 233.1 216.6 Total operating revenues $ 5,608.7 $ 4,552.8 $ 4,747.0
Remaining Performance Obligations	The following table provides information related to transactions and expected timing of revenue recognition for performance obligations that are fixed in nature and relate to contracts with terms greater than one year as of the date shown. Remaining Performance Obligations (in millions) December 31, 2021 Expected to be recognized within one year Transportation $ 16.1 Logistics Management 13.1 Expected to be recognized after one year Transportation 38.9 Logistics Management 6.9 Total $ 75.0
Contract Balances	The following table provides information related to contract balances associated with our contracts with customers as of the dates shown. Contract Balances ( in millions ) December 31, 2021 December 31, 2020 December 31, 2019 Other current assets—Contract assets $ 33.8 $ 21.5 $ 17.6 Other current liabilities—Contract liabilities 3.2 0.7 —

Fair Value (Tables)

Fair Value (Tables)	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements, Recurring	The table below sets forth the Company’s financial assets that are measured at fair value on a recurring, monthly basis in accordance with ASC 820. Fair Value at (in millions) Level in Fair December 31, 2021 December 31, 2020 Equity investment in TuSimple (1) 1 $ 12.7 $ — Marketable securities (2) 2 49.3 47.1 (1) Our equity investment in TuSimple is classified as Level 1 in the fair value hierarchy as shares of TuSimple’s Class A common stock are traded on the NASDAQ. See Note 5, Investments, for additional information . (2) Marketable securities are classified as Level 2 in the fair value hierarchy as they are valued based on quoted prices for similar assets in active markets or quoted prices for identical or similar assets in markets that are not active. See Note 5, Investments , for additional information.
Fair Value Measurements, Nonrecurring	We measure non-financial assets such as assets held for sale and other long-lived assets at fair value when there is an indicator of impairment and only when we recognize an impairment loss. During 2021 we did not measure any non-financial assets at fair value. The table below sets forth the Company’s non-financial assets that were measured at fair value on a non-recurring basis during 2020. (in millions) Level in Fair Fair Value at December 31, 2020 Assets held for sale Non restructuring (1) 2 $ 1.8 Restructuring (2) 2 1.4 Right-of-use lease assets Non restructuring (3) 3 1.0 Restructuring (2) 3 — (1) Our held for sale revenue equipment is evaluated for impairment using market data upon classification as held for sale or as impairment indicators are present. If the carrying value of the assets held for sale exceeds the fair value, an impairment is recorded. Of the $17.2 million of assets held for sale not related to the FTFM shutdown as of December 31, 2020, $1.8 million were recorded at fair value. Refer to Note 1, Summary of Significant Accounting Policies, for further details on impairment charges. (2) We recognized impairment charges and recorded certain assets held for sale and right-of-use lease assets associated with the shutdown of the FTFM service offering at fair value as of December 31, 2020. Transportation equipment was measured using market data, while right-of-use lease assets were measured using discounted cash flow analyses. Of the $1.6 million of assets held for sale related to the FTFM shutdown, $1.4 million were recorded at fair value. The discounted cash flow analyses for right-of-use lease assets used a range of discount rates from 3.6% to 4.0%, with a weighted average discount rate of 4.0%. (3) During 2020, we recognized an impairment on one of our right-of-use lease assets. The discounted cash flow analysis performed used a discount rate of 4.1%.

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Schedule of Marketable Securities	The following table presents the maturities and values of our marketable securities as of the dates shown. December 31, 2021 December 31, 2020 (in millions, except maturities in months) Maturities Amortized Cost Fair Value Amortized Cost Fair Value U.S. treasury and government agencies 23 to 110 $ 19.9 $ 19.6 $ 12.6 $ 12.7 Corporate debt securities 3 to 69 20.3 20.4 21.4 22.2 State and municipal bonds 13 to 96 9.1 9.3 11.9 12.2 Total marketable securities $ 49.3 $ 49.3 $ 45.9 $ 47.1
Equity Investments without Readily Determinable Fair Values	The following table summarizes the activity related to these equity investments during the periods presented. Year Ended December 31, (in millions) 2021 2020 2019 Investment in equity securities $ — $ 10.0 $ — Upward adjustments (1) 13.9 8.8 — Cumulative upward adjustments 26.2 (1) Our updated investment value in 2021 was determined using the backsolve method, a valuation approach that uses an option pricing model to value shares based on the price paid for recently issued shares.

Goodwill (Tables)

Goodwill (Tables)	12 Months Ended
	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in Carrying Amount of Goodwill	The following table shows changes to our goodwill balances by segment during the years ended December 31, 2021 and 2020. (in millions) Truckload Logistics Other Total Balance at December 31, 2019 $ 103.6 $ 14.2 $ 9.7 $ 127.5 Foreign currency translation adjustment — — 0.6 0.6 Balance at December 31, 2020 103.6 14.2 10.3 128.1 Acquisition (see Note 2) 122.7 — — 122.7 Goodwill impairment charge — — (10.6) (10.6) Foreign currency translation adjustment — — 0.3 0.3 Balance at December 31, 2021 $ 226.3 $ 14.2 $ — $ 240.5

Debt and Credit Facilities (Tab

Debt and Credit Facilities (Tables)	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Summary of Debt	As of December 31, 2021 and 2020, debt included the following: (in millions) December 31, 2021 December 31, 2020 Unsecured senior notes: principal payable at maturities ranging from 2022 through 2025; interest payable in semiannual installments through the same timeframe; weighted-average interest rate of 3.61% and 3.64% for 2021 and 2020, respectively $ 265.0 $ 305.0 Current maturities (60.0) (40.0) Debt issuance costs — (0.2) Long-term debt $ 205.0 $ 264.8
Schedule of Debt Maturities	Scheduled principal payments of debt subsequent to December 31, 2021 are as follows: (in millions) December 31, 2021 2022 $ 60.0 2023 70.0 2024 40.0 2025 95.0 Total $ 265.0

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Schedule of Net Lease Costs and Other Lease Information	The following table presents our net lease costs for the years ended December 31, 2021, 2020, and 2019. Financial Statement Classification Year Ended December 31, (in millions) 2021 2020 2019 Operating lease cost Operating lease cost Operating supplies and expenses $ 31.3 $ 29.5 $ 32.5 Short-term lease cost (1) Operating supplies and expenses 3.0 3.1 7.6 Finance lease cost Amortization of right-of-use assets Depreciation and amortization 0.8 0.5 3.2 Interest on lease liabilities Interest expense 0.1 0.1 0.2 Variable lease cost Operating supplies and expenses 0.9 2.2 2.6 Sublease income Operating supplies and expenses (4.5) (4.5) (5.4) Total net lease cost $ 31.6 $ 30.9 $ 40.7 (1) Includes short-term lease costs for leases twelve months or less, including those with a duration of one month or less. As of December 31, 2021 and 2020, remaining lease terms and discount rates under operating and finance leases were as follows: December 31, 2021 December 31, 2020 Weighted-average remaining lease term Operating leases 3.6 years 4.1 years Finance leases 3.8 years 4.6 years Weighted-average discount rate (1) Operating leases 3.3 % 3.8 % Finance leases 2.5 % 3.2 % (1) Determined based on a portfolio approach. Additional information related to our leases is as follows: Year Ended December 31, (in millions) 2021 2020 2019 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows for operating leases $ 31.4 $ 34.7 $ 35.3 Operating cash flows for finance leases 0.1 0.1 0.2 Financing cash flows for finance leases 0.8 0.6 6.9 Right-of-use assets obtained in exchange for new lease liabilities Operating leases $ 28.7 $ 23.7 $ 29.4 Finance leases 4.1 0.8 1.4
Schedule of Future Minimum Lease Payments for Operating Leases	At December 31, 2021, future lease payments under operating and finance leases were as follows: (in millions) Operating Leases Finance Leases 2022 $ 26.3 $ 1.5 2023 21.2 1.5 2024 14.6 1.4 2025 10.2 1.0 2026 5.1 0.1 2027 and thereafter 1.6 — Total 79.0 5.5 Amount representing interest (4.5) (0.2) Present value of lease payments 74.5 5.3 Current maturities (24.4) (1.4) Long-term lease obligations $ 50.1 $ 3.9
Schedule of Future Minimum Lease Payments for Finance Leases	At December 31, 2021, future lease payments under operating and finance leases were as follows: (in millions) Operating Leases Finance Leases 2022 $ 26.3 $ 1.5 2023 21.2 1.5 2024 14.6 1.4 2025 10.2 1.0 2026 5.1 0.1 2027 and thereafter 1.6 — Total 79.0 5.5 Amount representing interest (4.5) (0.2) Present value of lease payments 74.5 5.3 Current maturities (24.4) (1.4) Long-term lease obligations $ 50.1 $ 3.9
Schedule of Finance Leased Right-of-Use Assets	The consolidated balance sheets include right-of-use assets acquired under finance leases as components of property and equipment as of December 31, 2021 and 2020. Real and other property under finance leases are being amortized to a zero net book value over the initial lease term. (in millions) December 31, 2021 December 31, 2020 Transportation equipment $ 1.2 $ — Real property 0.7 0.7 Other property 5.5 2.7 Accumulated amortization (2.3) (1.6) Total $ 5.1 $ 1.8
Schedule of Investment in Lease Receivables	As of December 31, 2021 and 2020, investments in lease receivables were as follows: (in millions) December 31, 2021 December 31, 2020 Future minimum payments to be received on leases $ 193.9 $ 159.0 Guaranteed residual lease values 123.3 107.6 Total minimum lease payments to be received 317.2 266.6 Unearned income (46.5) (38.5) Net investment in leases $ 270.7 $ 228.1
Schedule of Principal Amounts to be Received on Lease Receivables	The amounts to be received on lease receivables as of December 31, 2021 were as follows: (in millions) December 31, 2021 2022 $ 138.1 2023 102.0 2024 76.4 2025 0.7 Total undiscounted lease cash flows 317.2 Amount representing interest (46.5) Present value of lease receivables 270.7 Current lease receivables—net of allowance (110.6) Long-term lease receivable $ 160.1
Schedule of Sales-type Lease Income	The table below provides additional information on our sales-type leases. Revenue and cost of goods sold are recorded in operating revenues and operating supplies and expenses in the consolidated statements of comprehensive income, respectively. Year Ended December 31, (in millions) 2021 2020 2019 Revenue $ 206.1 $ 206.3 $ 196.0 Cost of goods sold (177.6) (185.6) (177.1) Operating profit $ 28.5 $ 20.7 $ 18.9 Interest income on lease receivable $ 32.4 $ 26.5 $ 27.3

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Components of the Provision for Income Taxes	The components of the provision for income taxes for the years ended December 31, 2021, 2020, and 2019 were as follows: (in millions) 2021 2020 2019 Current: Federal $ 112.5 $ 60.4 $ 43.0 State and other 22.1 9.1 8.3 134.6 69.5 51.3 Deferred: Federal 0.8 (1.4) (1.3) State and other 1.2 3.1 1.1 2.0 1.7 (0.2) Total provision for income taxes $ 136.6 $ 71.2 $ 51.1
Schedule of Effective Income Tax Rate Reconciliation	The provision for income taxes for the years ended December 31, 2021, 2020, and 2019 differed from the amounts computed using the federal statutory rate in effect as follows: 2021 2020 2019 (in millions, except percentages) Dollar Impact Rate Dollar Impact Rate Dollar Impact Rate Income tax at federal statutory rate $ 113.8 21.0 % $ 59.4 21.0 % $ 41.6 21.0 % State tax—net of federal effect 18.9 3.5 9.7 3.4 8.1 4.1 Other—net 3.9 0.7 2.1 0.8 1.4 0.7 Total provision for income taxes $ 136.6 25.2 % $ 71.2 25.2 % $ 51.1 25.8 %
Schedule of Deferred Tax Assets and Liabilities	The components of the net deferred tax liability included in deferred income taxes in the consolidated balance sheets as of December 31, 2021 and 2020, were as follows: (in millions) 2021 2020 Deferred tax assets: Compensation and employee benefits $ 10.1 $ 10.2 Operating lease liabilities 17.8 18.5 State net operating losses and credit carryforwards 9.3 11.5 Other 10.5 8.6 Total gross deferred tax assets 47.7 48.8 Valuation allowance (2.5) (2.6) Total deferred tax assets—net of valuation allowance 45.2 46.2 Deferred tax liabilities: Property and equipment 456.5 462.6 Prepaid expenses 5.5 4.3 Intangible assets 7.9 5.9 Operating lease right-of-use assets 16.5 16.6 Other 9.8 7.2 Total gross deferred tax liabilities 496.2 496.6 Net deferred tax liability $ 451.0 $ 450.4
Schedule of Unrecognized Tax Benefits	As of December 31, 2021, 2020, and 2019, a reconciliation of the beginning and ending unrecognized tax benefits, which is recorded as other noncurrent liabilities in the consolidated balance sheets, is as follows: (in millions) 2021 2020 2019 Gross unrecognized tax benefits—beginning of year $ 4.3 $ 4.3 $ 3.3 Gross increases—tax positions related to current year 0.9 0.3 0.6 Gross increases (decreases)—tax positions taken in prior years — (0.3) 0.4 Gross unrecognized tax benefits—end of year $ 5.2 $ 4.3 $ 4.3

Common Equity (Tables)

Common Equity (Tables)	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Calculation of Basic and Diluted Earnings Per Share	Year Ended December 31, (in millions, except per share data) 2021 2020 2019 Numerator: Net income available to common shareholders $ 405.4 $ 211.7 $ 147.0 Denominator: Weighted average common shares outstanding 177.6 177.3 177.1 Dilutive effect of share-based awards and options outstanding 0.5 0.3 0.2 Weighted average diluted common shares outstanding 178.1 177.6 177.3 Basic earnings per common share $ 2.28 $ 1.19 $ 0.83 Diluted earnings per common share 2.28 1.19 0.83

Share-based Compensation (Table

Share-based Compensation (Tables)	12 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
Schedule of Components of Share-Based Compensation Program Expense	The following table summarizes the components of our employee share-based compensation expense. Year Ended December 31, (in millions) 2021 2020 2019 Restricted Shares and RSUs $ 5.8 $ 4.5 $ 3.2 Performance Shares and PSUs 6.1 1.9 (6.0) Non-qualified Stock Options 1.4 0.9 0.5 Share-based compensation expense (benefit) $ 13.3 $ 7.3 $ (2.3) Related tax benefit (expense) $ 3.3 $ 1.8 $ (0.6)
Schedule of Restricted Shares and RSU's Activity	Under the Plan, the majority of the restricted shares and RSUs granted vest ratably over a period of four years beginning approximately one year after the date of grant and are subject to continued employment through the vesting date or retirement eligibility. Dividend equivalents, equal to dividends paid on our common shares during the vesting period, are tracked and accumulated for each restricted share and RSU. The dividend equivalents are forfeitable and are distributed to participants in cash consistent with the date the awards vest. Restricted Shares and RSUs Number of Awards Weighted Average Grant Date Fair Value Unvested at December 31, 2018 369,477 $ 23.70 Granted 259,812 22.76 Vested (96,630) 23.30 Forfeited (47,851) 23.05 Unvested at December 31, 2019 484,808 23.34 Granted 259,992 22.04 Vested (141,556) 22.56 Forfeited (13,657) 23.00 Unvested at December 31, 2020 589,587 22.96 Granted 341,508 22.61 Vested (229,226) 22.82 Forfeited (22,610) 22.77 Unvested at December 31, 2021 679,259 $ 22.84
Schedule of Performance Shares and PSU's Activity	Performance shares and PSUs include a performance period of three years with vesting based on attainment of threshold performance of earnings and return on capital targets. These awards cliff-vest after a performance period of three years, subject to continued employment through the vesting date or retirement eligibility, with payout ranging from 0%-200% of the target number of shares for both PSUs and performance shares. The 2021 awards include an additional rTSR component that allows for payout ranging from 0%-250% of the target number of shares. Dividend equivalents equal to dividends paid on our common shares during the vesting period are tracked and accumulated for each award. The dividend equivalents are forfeitable consistent with the date the awards vest and are distributed to participants in cash at the same time as the underlying shares. Performance Shares and PSUs Number of Awards Weighted Average Grant Date Fair Value Unvested at December 31, 2018 638,379 $ 22.64 Granted 449,771 22.49 Vested — — Forfeited (568,429) 21.18 Unvested at December 31, 2019 519,721 24.11 Granted 350,525 22.04 Vested (44,802) 26.80 Forfeited (170,422) 26.68 Unvested at December 31, 2020 655,022 22.15 Granted 439,620 24.44 Vested — — Forfeited (313,362) 22.27 Unvested at December 31, 2021 781,280 $ 23.39
Schedule of Assumptions Used in Calculating Value of Performance Shares and PSU's	Assumptions used in the Monte Carlo simulation for awards granted in 2021 were as follows: 2021 Weighted-average Monte Carlo value $ 24.44 Monte Carlo assumptions: Expected term 2.87 years Expected volatility 45.8 % Risk-free interest rate 0.2
Schedule of Nonqualified Stock Options Activity	The options granted under the Plan have an exercise price equal to the fair market value of the underlying stock at the date of grant and vest ratably over a period of four years, with the first 25% of the grant becoming exercisable approximately one year after the date of grant. The options expire ten years from the date of grant. Non-qualified Stock Options Outstanding Number of Awards Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value (1) (in thousands) Outstanding at December 31, 2018 369,004 $ 22.63 8.7 $ — Granted 303,044 22.12 Exercised (2) — — — Forfeited (134,800) 22.87 Outstanding at December 31, 2019 537,248 22.28 8.3 641 Granted 233,636 22.04 Exercised (2) (84,984) 19.00 440 Forfeited — — Outstanding at December 31, 2020 (3) 685,900 20.60 7.1 735 Granted 305,668 22.63 Exercised (2) (42,904) 17.00 243 Forfeited — — Outstanding at December 31, 2021 948,664 $ 21.42 7.3 $ 5,208 Exercisable as of: December 31, 2019 130,563 $ 21.38 7.5 $ 255 December 31, 2020 179,893 21.18 5.8 244 December 31, 2021 329,711 21.15 5.7 1,898 (1) The aggregate intrinsic value was computed using the closing share price on December 31, 2021 of $26.91, December 31, 2020 of $20.70, and December 31, 2019 of $21.82, as applicable. (2) Cash received upon exercise of stock options was $0.7 million in 2021, $1.6 million in 2020, and $0 in 2019. (3) In November 2020, the exercise price of all outstanding options was adjusted downward by $2.00 to equitably adjust for the special dividend paid by the Company on November 19, 2020. Unvested Non-qualified Stock Options Number of Awards Weighted Average Grant Date Fair Value Unvested at December 31, 2018 320,009 $ 7.77 Granted 303,044 7.08 Vested (92,251) 7.59 Forfeited (124,117) 7.63 Unvested at December 31, 2019 406,685 7.34 Granted 233,636 6.34 Vested (134,314) 7.30 Forfeited — — Unvested at December 31, 2020 506,007 6.89 Granted 305,668 5.86 Vested (192,722) 7.01 Forfeited — — Unvested at December 31, 2021 618,953 $ 6.34
Schedule of Assumptions Used in Calculating Value of Stock Options	Assumptions used in calculating the Black-Scholes value of options granted during 2021, 2020, and 2019 were as follows: 2021 2020 2019 Weighted-average Black-Scholes value $ 5.86 $ 6.34 $ 7.08 Black-Scholes assumptions: Expected term 6.25 years 6.25 years 6.25 years Expected volatility 30.0 % 31.0 % 32.0 % Expected dividend yield 1.2 1.2 1.0 Risk-free interest rate 0.7 1.6 2.5

Segment Reporting (Tables)

Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
Summary of Segment Reporting Information	The following tables summarize our segment information. Inter-segment revenues were immaterial for all segments, with the exception of Other, which included revenues from insurance premiums charged to other segments for workers’ compensation, auto, and other types of insurance. Inter-segment revenues included in Other revenues below were $62.4 million, $62.6 million, and $87.1 million for the years ended December 31, 2021, 2020, and 2019, respectively. Revenues by Segment Year Ended December 31, (in millions) 2021 2020 2019 Truckload $ 1,934.9 $ 1,851.0 $ 2,076.8 Intermodal 1,143.1 974.7 1,007.8 Logistics 1,808.7 1,129.3 934.8 Other 365.3 359.0 371.3 Fuel surcharge 444.8 318.3 466.0 Inter-segment eliminations (88.1) (79.5) (109.7) Operating revenues $ 5,608.7 $ 4,552.8 $ 4,747.0 Income (Loss) from Operations by Segment Year Ended December 31, (in millions) 2021 2020 2019 Truckload $ 284.7 $ 187.8 $ 59.0 Intermodal 155.2 75.0 107.7 Logistics 92.4 43.1 37.3 Other 1.4 (19.2) 3.8 Income from operations $ 533.7 $ 286.7 $ 207.8 Depreciation and Amortization by Segment Year Ended December 31, (in millions) 2021 2020 2019 Truckload $ 210.2 $ 210.7 $ 212.3 Intermodal 48.4 46.3 44.6 Logistics 0.2 0.1 0.5 Other 37.4 33.4 35.5 Depreciation and amortization $ 296.2 $ 290.5 $ 292.9

Restructuring (Tables)

Restructuring (Tables)	12 Months Ended
	Dec. 31, 2021
Restructuring Charges [Abstract]
Schedule of Restructuring Activity	The activity associated with the shutdown is presented separately on the consolidated statements of comprehensive income within restructuring—net and is summarized below on a cumulative basis from July 29, 2019 through December 31, 2020. Restructuring activity for the year ended December 31, 2021 was not material. (in millions) Cumulative Impairment charges and losses on asset disposals—net $ 47.2 Receivable write-downs—net 3.0 Other costs 14.5 Total restructuring—net $ 64.7

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Credit loss allowance on marketable securities	$ 0	$ 0
Accrued insurance	158.3	144.2
Prepaid insurance	$ 11	$ 10.6

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Inventory Balances (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Inventory
Inventory	$ 27.4	$ 44.9
Tractors and trailing equipment for sale or lease
Inventory
Inventory	13.3	33.3
Replacement parts
Inventory
Inventory	13.2	10.7
Tires and other
Inventory
Inventory	$ 0.9	$ 0.9

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Property and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment
Gain or (loss) on sales of property and equipment—net	$ 63.9	$ (6.2)	$ 3.3
Non FTFM Shutdown and FTFM Shutdown
Property, Plant and Equipment
Gain or (loss) on sales of property and equipment—net		(6.7)	1.8
FTFM service offering shutdown
Property, Plant and Equipment
Gain or (loss) on sales of property and equipment—net		$ (0.5)	$ (1.5)
Tractors | Minimum
Property, Plant and Equipment
Useful life	3 years
Tractors | Maximum
Property, Plant and Equipment
Useful life	8 years
Salvage value percentage	30.00%
Trailing equipment | Minimum
Property, Plant and Equipment
Useful life	6 years
Trailing equipment | Maximum
Property, Plant and Equipment
Useful life	20 years
Salvage value percentage	25.00%
Other transportation equipment | Minimum
Property, Plant and Equipment
Useful life	4 years
Other transportation equipment | Maximum
Property, Plant and Equipment
Useful life	5 years
Buildings and improvements | Minimum
Property, Plant and Equipment
Useful life	5 years
Buildings and improvements | Maximum
Property, Plant and Equipment
Useful life	25 years
Other property | Minimum
Property, Plant and Equipment
Useful life	3 years
Other property | Maximum
Property, Plant and Equipment
Useful life	10 years

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Assets Held for Sale (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Long Lived Assets Held-for-sale
Impairment on assets held for sale	$ 0	$ 4.3	$ 14.3
Assets held for sale	0.7	18.8
Truckload
Long Lived Assets Held-for-sale
Assets held for sale	0.5	16.9
Intermodal
Long Lived Assets Held-for-sale
Assets held for sale	$ 0.2	1.9
FTFM service offering shutdown
Long Lived Assets Held-for-sale
Impairment on assets held for sale			28.1
Assets held for sale		1.6
Bulk sale of tractors
Long Lived Assets Held-for-sale
Impairment on assets held for sale			11.5
Non FTFM Shutdown and FTFM Shutdown
Long Lived Assets Held-for-sale
Impairment on assets held for sale		$ 4.7	$ 42.4

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Internal Use Software and Cloud Computing Arrangements (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Internal use software useful life	5 years
Internal use software amortization expense	$ 20.2	$ 15.4	$ 16.1
Cloud computing arrangement implementation amortization expense	1	0
Internal Use Software and Cloud Computing Arrangements
Internal use software, gross	319.4	290.7
Internal use software, accumulated amortization	225.5	207.6
Internal use software, net	93.9	83.1
Cloud computing arrangement implementation costs, gross	10.3	7.3
Cloud computing arrangement implementation costs, accumulated amortization	1	0
Cloud computing arrangement implementation costs, net	9.3	7.3
Internal use software and other noncurrent assets
Internal Use Software and Cloud Computing Arrangements
Cloud computing arrangement implementation costs, net	8.1	7.2
Prepaid Expenses and other current assets
Internal Use Software and Cloud Computing Arrangements
Cloud computing arrangement implementation costs, net	$ 1.2	$ 0.1

Business Combinations and Ass_3

Business Combinations and Asset Acquisitions- Acquisition Details (Details) - Midwest Logistics Systems (MLS)	12 Months Ended
	Dec. 31, 2021
Business Acquisition
Date of acquisition	Dec. 31, 2021
Percentage of business acquired	100.00%

Business Combinations and Ass_4

Business Combinations and Asset Acquisitions- Consideration Transferred (Details) - Midwest Logistics Systems (MLS) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)
Business Acquisition
Fair value of consideration transferred	$ 274.5
Consideration for Debt Payments
Business Acquisition
Fair value of consideration transferred	26.9
Cash consideration
Business Acquisition
Fair value of consideration transferred	271.3
Deferred cash consideration
Business Acquisition
Fair value of consideration transferred	$ 3.2

Business Combinations and Ass_5

Business Combinations and Asset Acquisitions- Acquisition-Related Costs (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)
Midwest Logistics Systems (MLS)
Business Acquisition
Acquisition-related costs	$ 1.9

Business Combinations and Ass_6

Business Combinations and Asset Acquisitions- Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Business Acquisition
Goodwill	$ 240.5	$ 128.1	$ 127.5
Midwest Logistics Systems (MLS)
Business Acquisition
Trade accounts receivable—net of allowance	18.6
Other receivables	0.9
Prepaid expenses and other current assets	1.6
Transportation equipment	140.8
Land, buildings, and improvements	7.7
Other property and equipment	0.4
Goodwill	122.7
Total assets acquired	292.7
Trade accounts payable	1.8
Accrued salaries, wages, and benefits	1.7
Claims liabilities—current	7.5
Other current liabilities	7.2
Total liabilities assumed	18.2
Net assets acquired	$ 274.5

Business Combinations and Ass_7

Business Combinations and Asset Acquisitions- Pro Forma Disclosures (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Midwest Logistics Systems (MLS)
Business Acquisition
Pro forma operating revenues	$ 5,816	$ 4,748

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Noncash consideration recorded as revenue	$ 6.3	$ 0	$ 0
Timing of payment after completion of performance obligations	40 days

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregated Revenues (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disaggregated of Revenues
Operating revenues	$ 5,608.7	$ 4,552.8	$ 4,747
Transportation
Disaggregated of Revenues
Operating revenues	5,166.7	4,170	4,376.6
Logistics Management
Disaggregated of Revenues
Operating revenues	219	149.7	153.8
Other
Disaggregated of Revenues
Operating revenues	$ 223	$ 233.1	$ 216.6

Revenue Recognition - Remaining

Revenue Recognition - Remaining Performance Obligation (Details) $ in Millions	Dec. 31, 2021USD ($)
Remaining Performance Obligation
Remaining performance obligations	$ 75
Expected to be recognized within one year | Transportation
Remaining Performance Obligation
Remaining performance obligations	16.1
Expected to be recognized within one year | Logistics Management
Remaining Performance Obligation
Remaining performance obligations	13.1
Expected to be recognized after one year | Transportation
Remaining Performance Obligation
Remaining performance obligations	38.9
Expected to be recognized after one year | Logistics Management
Remaining Performance Obligation
Remaining performance obligations	$ 6.9

Revenue Recognition - Contract

Revenue Recognition - Contract Balances (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Contract assets	$ 33.8	$ 21.5	$ 17.6
Contract liabilities	$ 3.2	$ 0.7	$ 0

Fair Value - Recurring Fair Val

Fair Value - Recurring Fair Value Measurements (Details) - Recurring fair value measurement - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Level 1
Fair Value, Assets Measured on Recurring or Nonrecurring Basis
Equity investment in TuSimple	$ 12.7	$ 0
Level 2
Fair Value, Assets Measured on Recurring or Nonrecurring Basis
Marketable securities	$ 49.3	$ 47.1

Fair Value - Other Financial In

Fair Value - Other Financial Instruments (Details) - Unsecured Senior Notes - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Assets Measured on Recurring or Nonrecurring Basis
Total principal outstanding	$ 265	$ 305
Level 2
Fair Value, Assets Measured on Recurring or Nonrecurring Basis
Fair value of debt	$ 276.7	$ 316.9

Fair Value - Nonrecurring Fair

Fair Value - Nonrecurring Fair Value Measurements (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Assets Measured on Recurring or Nonrecurring Basis
Assets held for sale	$ 0.7	$ 18.8
Right-of-use lease asset weighted average discount rate	3.30%	3.80%
Non FTFM shutdown assets held for sale		$ 17.2
Nonrecurring fair value measurement
Fair Value, Assets Measured on Recurring or Nonrecurring Basis
Right-of-use lease asset weighted average discount rate		4.10%
Nonrecurring fair value measurement | Level 2
Fair Value, Assets Measured on Recurring or Nonrecurring Basis
Fair value of assets held for sale		$ 1.8
Nonrecurring fair value measurement | Level 3
Fair Value, Assets Measured on Recurring or Nonrecurring Basis
Fair value of right-of-use lease assets		1
FTFM service offering shutdown
Fair Value, Assets Measured on Recurring or Nonrecurring Basis
Assets held for sale		$ 1.6
FTFM service offering shutdown | Nonrecurring fair value measurement
Fair Value, Assets Measured on Recurring or Nonrecurring Basis
Right-of-use lease asset weighted average discount rate		4.00%
FTFM service offering shutdown | Nonrecurring fair value measurement | Minimum
Fair Value, Assets Measured on Recurring or Nonrecurring Basis
Right-of-use lease asset discount rate		3.60%
FTFM service offering shutdown | Nonrecurring fair value measurement | Maximum
Fair Value, Assets Measured on Recurring or Nonrecurring Basis
Right-of-use lease asset discount rate		4.00%
FTFM service offering shutdown | Nonrecurring fair value measurement | Level 2
Fair Value, Assets Measured on Recurring or Nonrecurring Basis
Fair value of assets held for sale		$ 1.4
FTFM service offering shutdown | Nonrecurring fair value measurement | Level 3
Fair Value, Assets Measured on Recurring or Nonrecurring Basis
Fair value of right-of-use lease assets		$ 0

Investments - Narrative (Detail

Investments - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Value in investments without readily determinable fair values	$ 36.2	$ 22.3

Investments - Schedule of Marke

Investments - Schedule of Marketable Securities (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Available for Sale Debt Securities
Amortized cost	$ 49.3	$ 45.9
U.S. treasury and government agencies
Available for Sale Debt Securities
Amortized cost	$ 19.9	12.6
U.S. treasury and government agencies | Minimum
Available for Sale Debt Securities
Maturity date	Nov. 30, 2023
U.S. treasury and government agencies | Maximum
Available for Sale Debt Securities
Maturity date	Feb. 15, 2031
Corporate debt securities
Available for Sale Debt Securities
Amortized cost	$ 20.3	21.4
Corporate debt securities | Minimum
Available for Sale Debt Securities
Maturity date	Mar. 6, 2022
Corporate debt securities | Maximum
Available for Sale Debt Securities
Maturity date	Sep. 19, 2027
State and municipal bonds
Available for Sale Debt Securities
Amortized cost	$ 9.1	11.9
State and municipal bonds | Minimum
Available for Sale Debt Securities
Maturity date	Jan. 1, 2023
State and municipal bonds | Maximum
Available for Sale Debt Securities
Maturity date	Dec. 1, 2029
Current asset
Available for Sale Debt Securities
Fair value	$ 49.3	47.1
Current asset | U.S. treasury and government agencies
Available for Sale Debt Securities
Fair value	19.6	12.7
Current asset | Corporate debt securities
Available for Sale Debt Securities
Fair value	20.4	22.2
Current asset | State and municipal bonds
Available for Sale Debt Securities
Fair value	$ 9.3	$ 12.2

Investments - Equity Investment

Investments - Equity Investments without Readily Determinable Fair Values (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Other Investments
Investment in equity security	$ 0	$ 10	$ 0
Upward adjustments	13.9	$ 8.8	$ 0
Cumulative upward adjustments	$ 26.2

Investments - Investment in TuS

Investments - Investment in TuSimple (Details) - TuSimple - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Jan. 12, 2021
Other Investments
Investment in equity security		$ 5
Net gain on investment	$ 7.7

Goodwill - Schedule of Changes

Goodwill - Schedule of Changes in Carrying Amount of Goodwill (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Goodwill
Acquisition	$ 122.7
Goodwill impairment charge	(10.6)	$ 0	$ (34.6)
Foreign currency adjustment	0.3	0.6
Goodwill	240.5	128.1	127.5
Truckload
Goodwill
Acquisition	122.7
Goodwill impairment charge	0
Foreign currency adjustment	0	0
Goodwill	226.3	103.6	103.6
Logistics
Goodwill
Acquisition	0
Goodwill impairment charge	0
Foreign currency adjustment	0	0
Goodwill	14.2	14.2	14.2
Other
Goodwill
Acquisition	0
Goodwill impairment charge	(10.6)
Foreign currency adjustment	0.3	0.6
Goodwill	$ 0	$ 10.3	$ 9.7

Goodwill - Additional Informati

Goodwill - Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)reportingUnit	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Goodwill
Accumulated goodwill impairment charge	$ 53.2	$ 42.6
Number of reporting units | reportingUnit	3
Goodwill impairment charge	$ 10.6	0	$ 34.6
Truckload
Goodwill
Accumulated goodwill impairment charge	34.6	34.6
Goodwill impairment charge	0
Other
Goodwill
Accumulated goodwill impairment charge	18.6	$ 8
Goodwill impairment charge	$ 10.6

Debt and Credit Facilities - Su

Debt and Credit Facilities - Summary of Debt (Details) - Unsecured Senior Notes - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument
Frequency of payments	semiannual
Weighted-average interest rate	3.61%	3.64%
Total principal outstanding	$ 265	$ 305
Current maturities	(60)	(40)
Debt issuance costs	0	(0.2)
Long-term debt	$ 205	$ 264.8
Minimum
Debt Instrument
Maturity year	2022
Maximum
Debt Instrument
Maturity year	2025

Debt and Credit Facilities - Sc

Debt and Credit Facilities - Schedule of Debt Maturities (Details) - Unsecured Senior Notes - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument
2022	$ 60
2023	70
2024	40
2025	95
Total	$ 265	$ 305

Debt and Credit Facilities - Ad

Debt and Credit Facilities - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Unsecured Senior Notes
Debt Instrument
Change of control threshold	50.00%
Credit Facility
Debt Instrument
Current borrowing capacity	$ 250
Potential increase amount	150
Maximum borrowing capacity	$ 400
Expiration date	Aug. 6, 2023
Outstanding borrowings	$ 0	$ 0
Change of control threshold	50.00%
Credit Facility | Standby Letters of Credit
Debt Instrument
Maximum borrowing capacity	$ 100
Standby letters of credit	3.9	3.9
Receivables Purchase Agreement
Debt Instrument
Maximum borrowing capacity	$ 150
Expiration date	Jul. 30, 2024
Outstanding borrowings	$ 0	0
Change of control threshold	50.00%
Receivables Purchase Agreement | Standby Letters of Credit
Debt Instrument
Standby letters of credit	$ 70.3	$ 70.3
Minimum | Unsecured Senior Notes
Debt Instrument
Debt prepayment terms	20 days
Maximum | Unsecured Senior Notes
Debt Instrument
Debt prepayment terms	60 days

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Leases
Operating lease right-of-use asset	$ 68.6	$ 69.4
Operating lease right-of-use asset impairment loss	0	0.8	$ 4.1
Operating lease payments related to options to extend that are reasonably certain to exercise	4
Leases not yet commenced	5.5
Total minimum lease payments to be received	317.2	266.6
Financial Asset, Past Due
Leases
Total minimum lease payments to be received	3.6
With any portion past due
Leases
Net investment in leases	$ 47.3
Minimum
Leases
Lease terms of leases not yet commenced	1 year
Terms of sales-type leases	1 year
Maximum
Leases
Lease terms of leases not yet commenced	4 years
Terms of sales-type leases	3 years
FTFM service offering shutdown
Leases
Operating lease right-of-use asset impairment loss		$ 0.3	$ 3.8

Leases - Schedule of Net Lease

Leases - Schedule of Net Lease Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Lease costs
Operating lease cost	$ 31.3	$ 29.5	$ 32.5
Short-term lease cost	3	3.1	7.6
Amortization of right-of-use assets	0.8	0.5	3.2
Interest on lease liabilities	0.1	0.1	0.2
Variable lease cost	0.9	2.2	2.6
Sublease income	(4.5)	(4.5)	(5.4)
Total net lease cost	$ 31.6	$ 30.9	$ 40.7

Leases - Schedule of Remaining

Leases - Schedule of Remaining Lease Terms and Discount Rates (Details)	Dec. 31, 2021Rate	Dec. 31, 2020Rate
Weighted-average remaining lease term
Operating leases - remaining lease terms	3 years 7 months 6 days	4 years 1 month 6 days
Finance leases - remaining lease terms	3 years 9 months 18 days	4 years 7 months 6 days
Weighted-average discount rate
Right-of-use lease asset weighted average discount rate	3.30%	3.80%
Finance leases - weighted average discount rate	2.50%	3.20%

Leases - Schedule of Other Leas

Leases - Schedule of Other Lease Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating cash flows for operating leases	$ 31.4	$ 34.7	$ 35.3
Operating cash flows for finance leases	0.1	0.1	0.2
Financing cash flows for finance leases	0.8	0.6	6.9
Right-of-use assets obtained in exchange for new operating lease liability	28.7	23.7	29.4
Right-of-use assets obtained in exchange for new finance lease liability	$ 4.1	$ 0.8	$ 1.4

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Lease Payments for Operating Leases (Details) $ in Millions	Dec. 31, 2021USD ($)
Leases
2022	$ 26.3
2023	21.2
2024	14.6
2025	10.2
2026	5.1
2027 and thereafter	1.6
Total	79
Amount representing interest	(4.5)
Present value of lease payments	74.5
Current maturities	(24.4)
Long-term lease obligations	$ 50.1

Leases - Schedule of Future M_2

Leases - Schedule of Future Minimum Lease Payments for Finance Leases (Details) $ in Millions	Dec. 31, 2021USD ($)
Finance Leases
2022	$ 1.5
2023	1.5
2024	1.4
2025	1
2026	0.1
2027 and thereafter	0
Total	5.5
Amount representing interest	(0.2)
Present value of lease payments	5.3
Current maturities	(1.4)
Long-term lease obligations	$ 3.9

Leases - Schedule of Finance Le

Leases - Schedule of Finance Leased Right-of-Use Assets (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Leases
Accumulated amortization	$ (2.3)	$ (1.6)
Finance lease right-of-use asset, net	5.1	1.8
Transportation equipment
Leases
Finance lease right-of-use asset, gross	1.2	0
Real property
Leases
Finance lease right-of-use asset, gross	0.7	0.7
Other property
Leases
Finance lease right-of-use asset, gross	$ 5.5	$ 2.7

Leases - Schedule of Investment

Leases - Schedule of Investment in Lease Receivables (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Future minimum payments to be received on leases	$ 193.9	$ 159
Guaranteed residual lease values	123.3	107.6
Total minimum lease payments to be received	317.2	266.6
Unearned income	(46.5)	(38.5)
Net investment in leases	$ 270.7	$ 228.1

Leases - Schedule of Principal

Leases - Schedule of Principal Amounts to be Received on Lease Receivables (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
2022	$ 138.1
2023	102
2024	76.4
2025	0.7
Total minimum lease payments to be received	317.2	$ 266.6
Unearned income	(46.5)	(38.5)
Net investment in leases	270.7	228.1
Current lease receivables—net of allowance	(110.6)	(96.8)
Lease receivables	$ 160.1	$ 131.3

Leases - Schedule of Sales-type

Leases - Schedule of Sales-type Lease Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Revenue	$ 206.1	$ 206.3	$ 196
Cost of goods sold	(177.6)	(185.6)	(177.1)
Operating profit	28.5	20.7	18.9
Interest income on lease receivable	$ 32.4	$ 26.5	$ 27.3

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Deferred employer social security taxes from CARES act	$ 0	$ 30.7
Accrued interest and penalties on unrecognized tax benefits	2.7	2.4
Carryforwards
State net operating loss carryforwards	162.1
Deferred tax assets for state net operating loss carryforwards	9.3
Valuation allowance	$ 2.5	$ 2.6
Tax year 2018
Income Tax Contingency
Open tax year for examination by IRS	2018
Tax Year 2019
Income Tax Contingency
Open tax year for examination by IRS	2019
Tax Year 2020
Income Tax Contingency
Open tax year for examination by IRS	2020
Minimum
Carryforwards
State net operating loss carryforward - expiration date	Jan. 1, 2022
Maximum
Carryforwards
State net operating loss carryforward - expiration date	Dec. 31, 2042

Income Taxes - Components of th

Income Taxes - Components of the Provision for Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Current:
Federal	$ 112.5	$ 60.4	$ 43
State and other	22.1	9.1	8.3
Current income tax provision	134.6	69.5	51.3
Deferred:
Federal	0.8	(1.4)	(1.3)
State and other	1.2	3.1	1.1
Deferred income tax provision for (benefit from)	2	1.7	(0.2)
Total provision for income taxes	$ 136.6	$ 71.2	$ 51.1

Income Taxes - Schedule of Effe

Income Taxes - Schedule of Effective Tax Rate Reconciliation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income tax at federal statutory rate	$ 113.8	$ 59.4	$ 41.6
Corporate income tax rate	21.00%	21.00%	21.00%
State tax—net of federal effect	$ 18.9	$ 9.7	$ 8.1
State tax—net of federal effect, rate	3.50%	3.40%	4.10%
Other—net	$ 3.9	$ 2.1	$ 1.4
Other—net, rate	0.70%	0.80%	0.70%
Total provision for income taxes	$ 136.6	$ 71.2	$ 51.1
Total provision for income taxes, rate	25.20%	25.20%	25.80%

Income Taxes - Schedule of Defe

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets:
Compensation and employee benefits	$ 10.1	$ 10.2
Operating lease liabilities	17.8	18.5
State net operating losses and credit carryforwards	9.3	11.5
Other	10.5	8.6
Total gross deferred tax assets	47.7	48.8
Valuation allowance	(2.5)	(2.6)
Total deferred tax assets—net of valuation allowance	45.2	46.2
Deferred tax liabilities:
Property and equipment	456.5	462.6
Prepaid expenses	5.5	4.3
Intangible assets	7.9	5.9
Operating lease right-of-use assets	16.5	16.6
Other	9.8	7.2
Total gross deferred tax liabilities	496.2	496.6
Net deferred tax liability	$ 451	$ 450.4

Income Taxes - Schedule of Unre

Income Taxes - Schedule of Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Gross unrecognized Tax Benefit Roll Forward
Gross unrecognized tax benefits—beginning of year	$ 4.3	$ 4.3	$ 3.3
Gross increases—tax positions related to current year	0.9	0.3	0.6
Gross increases—tax positions taken in prior years			0.4
Gross (decreases)—tax positions taken in prior years	0	(0.3)
Gross unrecognized tax benefits—end of year	$ 5.2	$ 4.3	$ 4.3

Common Equity - Calculation of

Common Equity - Calculation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Basic earnings per common share
Net income available to common shareholders	$ 405.4	$ 211.7	$ 147
Weighted average common shares outstanding	177.6	177.3	177.1
Diluted earnings per common share
Dilutive effect of share-based awards and options outstanding	0.5	0.3	0.2
Weighted average diluted common shares outstanding	178.1	177.6	177.3
Basic earnings per share	$ 2.28	$ 1.19	$ 0.83
Diluted earnings per share	$ 2.28	$ 1.19	$ 0.83
Anti-dilutive share-based awards and options excluded from computation of diluted earnings per share	0.8	0.6	0.5

Common Equity - Additional Info

Common Equity - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	Jan. 24, 2022	Nov. 19, 2020	Oct. 26, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Class of Stock
Dividends declared per share				$ 0.28	$ 2.26	$ 0.24
Special Dividend
Class of Stock
Special dividend cash payment		$ 354.7
Class A Common Shares
Class of Stock
Common stock, shares authorized (shares)				250,000,000	250,000,000
Dividends declared per share				$ 0.28	$ 2.26	0.24
Class A Common Shares | Special Dividend
Class of Stock
Dividends declared per share			$ 2
Class B Common Stock
Class of Stock
Common stock, shares authorized (shares)				750,000,000	750,000,000
Dividends declared per share				$ 0.28	$ 2.26	$ 0.24
Class B Common Stock | Special Dividend
Class of Stock
Dividends declared per share			$ 2
Preferred Stock
Class of Stock
Preferred stock, shares authorized (shares)				50,000,000	50,000,000
Subsequent Event
Class of Stock
Dividend payment date	Apr. 8, 2022
Record date	Mar. 11, 2022
Subsequent Event | Class A Common Shares | Quarterly Dividend Declared
Class of Stock
Dividends declared per share	$ 0.08
Subsequent Event | Class B Common Stock | Quarterly Dividend Declared
Class of Stock
Dividends declared per share	$ 0.08

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Retirement Plan
Employee Benefit Plan Disclosure
Employee benefit plan expense	$ 11.3	$ 10.7	$ 10.1
401K Plan
Employee Benefit Plan Disclosure
Employee benefit plan expense	$ 12.9	$ 11.3	$ 11.8

Share-based Compensation - Addi

Share-based Compensation - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
2017 Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award
Unrecognized compensation cost related to outstanding share-based compensation awards	$ 18.9
Unrecognized compensation cost related to outstanding share-based compensation awards, recognition period	2 years 1 month 6 days
Share-based compensation expense (benefit)	$ 13.3	$ 7.3	$ (2.3)
Restricted Shares and RSUs
Share-based Compensation Arrangement by Share-based Payment Award
Share-based compensation expense (benefit)	5.8	4.5	3.2
Performance Shares and PSUs
Share-based Compensation Arrangement by Share-based Payment Award
Share-based compensation expense (benefit)	6.1	1.9	(6)
Non-Qualified Stock Options
Share-based Compensation Arrangement by Share-based Payment Award
Share-based compensation expense (benefit)	1.4	0.9	$ 0.5
Equity based awards | Nonemployee Director
Share-based Compensation Arrangement by Share-based Payment Award
Share-based compensation expense (benefit)	1.3	1.3
Liability based awards | Nonemployee Director
Share-based Compensation Arrangement by Share-based Payment Award
Share-based compensation expense (benefit)	$ 1.2	$ 0.9

Share-based Compensation - Comp

Share-based Compensation - Components of Share-Based Compensation Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award
Related tax benefit (expense)	$ 3.3	$ 1.8	$ (0.6)
2017 Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award
Share-based compensation expense (benefit)	13.3	7.3	(2.3)
Restricted Shares and RSUs
Share-based Compensation Arrangement by Share-based Payment Award
Share-based compensation expense (benefit)	5.8	4.5	3.2
Performance Shares and PSUs
Share-based Compensation Arrangement by Share-based Payment Award
Share-based compensation expense (benefit)	6.1	1.9	(6)
Non-Qualified Stock Options
Share-based Compensation Arrangement by Share-based Payment Award
Share-based compensation expense (benefit)	$ 1.4	$ 0.9	$ 0.5

Share-based Compensation - Rest

Share-based Compensation - Restricted Shares and RSUs (Details) - Restricted Shares and RSUs - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period	4 years
Number of Awards
Unvested, beginning balance (in shares)	589,587	484,808	369,477
Granted (in shares)	341,508	259,992	259,812
Vested (in shares)	(229,226)	(141,556)	(96,630)
Forfeited (in shares)	(22,610)	(13,657)	(47,851)
Unvested, ending balance (in shares)	679,259	589,587	484,808
Weighted Average Grant Date Fair Value
Unvested, beginning balance (usd per share)	$ 22.96	$ 23.34	$ 23.70
Granted (usd per share)	22.61	22.04	22.76
Vested (usd per share)	22.82	22.56	23.30
Forfeited (usd per share)	22.77	23	23.05
Unvested, ending balance (usd per share)	$ 22.84	$ 22.96	$ 23.34
First period
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period	1 year

Share-based Compensation - Perf

Share-based Compensation - Performance Shares and PSUs (Details) - Performance Shares and PSUs - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award
Performance period	3 years
Vesting period	3 years
Number of Awards
Unvested, beginning balance (in shares)	655,022	519,721	638,379
Granted (in shares)	439,620	350,525	449,771
Vested (in shares)	0	(44,802)	0
Forfeited (in shares)	(313,362)	(170,422)	(568,429)
Unvested, ending balance (in shares)	781,280	655,022	519,721
Weighted Average Grant Date Fair Value
Unvested, beginning balance (usd per share)	$ 22.15	$ 24.11	$ 22.64
Granted (usd per share)	24.44	22.04	22.49
Vested (usd per share)	0	26.80	0
Forfeited (usd per share)	22.27	26.68	21.18
Unvested, ending balance (usd per share)	$ 23.39	$ 22.15	$ 24.11
Minimum | 2021 Awards
Share-based Compensation Arrangement by Share-based Payment Award
Payout range	0.00%
Minimum | Awards prior to 2021
Share-based Compensation Arrangement by Share-based Payment Award
Payout range	0.00%
Maximum | 2021 Awards
Share-based Compensation Arrangement by Share-based Payment Award
Payout range	250.00%
Maximum | Awards prior to 2021
Share-based Compensation Arrangement by Share-based Payment Award
Payout range	200.00%

Share-based Compensation - Pe_2

Share-based Compensation - Performance Shares and PSUs Assumptions (Details) - Performance Shares and PSUs - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award
Expected dividend yield	0.00%
Weighted-average Monte Carlo value (usd per share)	$ 24.44	$ 22.04	$ 22.49
Expected term	2 years 10 months 13 days
Expected volatility	45.80%
Risk-free interest rate	0.20%

Share-based Compensation - Nonq

Share-based Compensation - Nonqualified Stock Options (Details) - Non-Qualified Stock Options - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period	4 years
Expiration period	10 years
Number of Awards, Outstanding
Outstanding, beginning balance (in shares)	685,900	537,248	369,004
Granted (in shares)	305,668	233,636	303,044
Exercised (in shares)	(42,904)	(84,984)	0
Forfeited (in shares)	0	0	(134,800)
Outstanding, ending balance (in shares)	948,664	685,900	537,248	369,004
Weighted Average Exercise Price, Outstanding
Weighted average exercise price, beginning balance	$ 20.60	$ 22.28	$ 22.63
Weighted average exercise price, granted	22.63	22.04	22.12
Weighted average exercise price, exercised	17	19	0
Weighted average exercise price, forfeited	0	0	22.87
Weighted average exercise price, ending balance	$ 21.42	$ 20.60	$ 22.28	$ 22.63
Additional Option Disclosures
Weighted Average Remaining Contractual Term (in years)	7 years 3 months 18 days	7 years 1 month 6 days	8 years 3 months 18 days	8 years 8 months 12 days
Aggregate intrinsic value, exercised	$ 243,000	$ 440,000	$ 0
Aggregate intrinsic value, outstanding	$ 5,208,000	$ 735,000	$ 641,000	$ 0
Aggregate intrinsic value share price	$ 26.91	$ 20.70	$ 21.82
Number of awards exercisable (in shares)	329,711	179,893	130,563
Weighted average exercise price of exercisable awards (in dollars per share)	$ 21.15	$ 21.18	$ 21.38
Weighted average remaining contractual term of exercisable awards (in years)	5 years 8 months 12 days	5 years 9 months 18 days	7 years 6 months
Aggregate intrinsic value of exercisable awards	$ 1,898,000	$ 244,000	$ 255,000
Proceeds from stock options exercised	$ 700,000	$ 1,600,000	$ 0
Number of Awards, Unvested
Unvested, beginning balance (in shares)	506,007	406,685	320,009
Granted (in shares)	305,668	233,636	303,044
Vested (in shares)	(192,722)	(134,314)	(92,251)
Forfeited (in shares)	0	0	(124,117)
Unvested, ending balance (in shares)	618,953	506,007	406,685	320,009
Weighted Average Exercise Price, Unvested
Weighted average grant date fair value, beginning balance	$ 6.89	$ 7.34	$ 7.77
Weighted average grant date fair value, granted	5.86	6.34	7.08
Weighted average grant date fair value, vested	7.01	7.30	7.59
Weighted average grant date fair value, forfeited	0	0	7.63
Weighted average grant date fair value, ending balance	$ 6.34	$ 6.89	$ 7.34	$ 7.77
First period
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period	1 year
Vesting percentage	25.00%
Second period
Share-based Compensation Arrangement by Share-based Payment Award
Vesting percentage	25.00%
Third period
Share-based Compensation Arrangement by Share-based Payment Award
Vesting percentage	25.00%
Fourth period
Share-based Compensation Arrangement by Share-based Payment Award
Vesting percentage	25.00%

Share-based Compensation - Stoc

Share-based Compensation - Stock Option Assumptions (Details) - Non-Qualified Stock Options - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award
Weighted-average Black-Scholes value (usd per share)	$ 5.86	$ 6.34	$ 7.08
Black-Scholes assumptions:
Expected term	6 years 3 months	6 years 3 months	6 years 3 months
Expected volatility	30.00%	31.00%	32.00%
Expected dividend yield	1.20%	1.20%	1.00%
Risk-free interest rate	0.70%	1.60%	2.50%

Other Long-Term Incentive Com_2

Other Long-Term Incentive Compensation (Details) - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Legacy Long-term Cash Incentive Compensation Plans
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits
Legacy long-term cash incentive compensation expense (benefit)	$ 1.2	$ 1.6	$ (2)
2011 Omnibus Long-term Incentive Plan | Stock Appreciation Rights (SARs)
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits
Awards outstanding (in shares)	0.3
Incentive plan, liability on SARs	$ 2.1	5.3
Cash Awards | 2011 Omnibus Long-term Incentive Plan
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits
Incentive plan, liability related to awards	0	2.9
Cash Awards | 2005 Schneider National, Inc. Long-Term Incentive Plan
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits
Incentive plan, liability related to awards	$ 8.7	$ 8.8

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2021
Other Commitments
Commitments to purchase transportation equipment		$ 337.3
Loss Contingencies
Litigation settlement expense	$ 12.8
Litigation settlement payments	$ 13.7
Litigation settlement loss contingency refund receivable		13.5
Maximum | WSL
Loss Contingencies
Loss contingency estimate		40
Minimum | WSL
Loss Contingencies
Loss contingency estimate		$ 0

Segment Reporting - Additional

Segment Reporting - Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)Segment	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Segment Reporting Information
Number of reportable segments	3
Operating revenues | $	$ 5,608.7	$ 4,552.8	$ 4,747
Truckload
Segment Reporting Information
Number of operating segments	2
Logistics
Segment Reporting Information
Number of operating segments	2
Other | Other Insurance
Segment Reporting Information
Operating revenues | $	$ 62.4	$ 62.6	$ 87.1

Segment Reporting - Revenue by

Segment Reporting - Revenue by Segment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information
Operating revenues	$ 5,608.7	$ 4,552.8	$ 4,747
Truckload
Segment Reporting Information
Revenues excluding fuel surcharge	1,934.9	1,851	2,076.8
Intermodal
Segment Reporting Information
Revenues excluding fuel surcharge	1,143.1	974.7	1,007.8
Logistics
Segment Reporting Information
Revenues excluding fuel surcharge	1,808.7	1,129.3	934.8
Other
Segment Reporting Information
Revenues excluding fuel surcharge	365.3	359	371.3
Fuel Surcharge
Segment Reporting Information
Operating revenues	444.8	318.3	466
Inter-segment Eliminations
Segment Reporting Information
Operating revenues	$ (88.1)	$ (79.5)	$ (109.7)

Segment Reporting - Income (Los

Segment Reporting - Income (Loss) from Operations by Segment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information
Income from operations	$ 533.7	$ 286.7	$ 207.8
Truckload
Segment Reporting Information
Income from operations	284.7	187.8	59
Intermodal
Segment Reporting Information
Income from operations	155.2	75	107.7
Logistics
Segment Reporting Information
Income from operations	92.4	43.1	37.3
Other
Segment Reporting Information
Income from operations	$ 1.4	$ (19.2)	$ 3.8

Segment Reporting - Depreciatio

Segment Reporting - Depreciation and Amortization by Segment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information
Depreciation and amortization	$ 296.2	$ 290.5	$ 292.9
Truckload
Segment Reporting Information
Depreciation and amortization	210.2	210.7	212.3
Intermodal
Segment Reporting Information
Depreciation and amortization	48.4	46.3	44.6
Logistics
Segment Reporting Information
Depreciation and amortization	0.2	0.1	0.5
Other
Segment Reporting Information
Depreciation and amortization	$ 37.4	$ 33.4	$ 35.5

Restructuring - Narrative (Deta

Restructuring - Narrative (Details) - USD ($) $ in Millions	1 Months Ended		12 Months Ended
	Aug. 31, 2019	Jul. 31, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Restructuring Activity
Restructuring, initiation date		Jul. 29, 2019
Restructuring, completion date	Aug. 31, 2019
FTFM pre-tax losses					$ 34.4
Truckload | Other costs
Restructuring Activity
Restructuring reserve				$ 4.4	$ 5.1
Cash payments			$ 4.4	$ 1.5

Restructuring - Schedule of Res

Restructuring - Schedule of Restructuring Activity (Details) - USD ($) $ in Millions	12 Months Ended			17 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020
Restructuring Activity
Restructuring—net	$ 0	$ 1	$ 63.7
Truckload
Restructuring Activity
Restructuring—net				$ 64.7
Truckload | Impairment charges and losses on asset disposals—net
Restructuring Activity
Restructuring—net				47.2
Truckload | Receivable write-downs—net
Restructuring Activity
Restructuring—net				3
Truckload | Other costs
Restructuring Activity
Restructuring—net				$ 14.5

Schedule II - Valuation and Q_2

Schedule II - Valuation and Qualifying Accounts (Details) - Allowance for doubtful accounts and revenue adjustments - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves
Balance at Beginning of Year	$ 3.7	$ 3.4	$ 6.8
Charged to Expense / Against Revenue	2.3	1.4	(1.1)
Write-offs-Net of Recoveries	(0.8)	(1.1)	(2.3)
Balance at End of Year	$ 5.2	$ 3.7	$ 3.4