Yellow (YELLQ) 10-Q 28 Jul 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Jul. 22, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Entity Registrant Name	YRC Worldwide Inc.
Entity Central Index Key	716,006
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		33,280,658

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Assets
Cash and cash equivalents	$ 243.5	$ 173.8
Restricted amounts held in escrow	61.4	58.8
Accounts receivable, net	483.5	427.4
Prepaid expenses and other	76.1	74.4
Total current assets	864.5	734.4
Property and Equipment:
Cost	2,819.2	2,822.8
Less – accumulated depreciation	(1,916.5)	(1,885.5)
Net property and equipment	902.7	937.3
Intangibles, net	34.2	40.4
Restricted amounts held in escrow	3.7	63.4
Deferred income taxes, net	23	23
Other assets	57.9	80.9
Total Assets	1,886	1,879.4
Liabilities and Shareholders’ Deficit
Accounts payable	171.1	161.1
Wages, vacations and employee benefits	207.1	195.1
Deferred income taxes, net	23	23
Other current and accrued liabilities	24.8	23.6
Claims And Insurance Accruals Current	123.1	125
Accrued Payroll Taxes, Current	27.3	29.8
Current maturities of long-term debt	16.4	15.9
Total current liabilities	592.8	573.5
Other Liabilities:
Long-term debt, less current portion	1,028	1,046.5
Deferred income taxes, net	3.8	3.7
Pension and postretirement	329.5	339.9
Claims and other liabilities	291.7	295.2
Commitments and contingencies
Shareholders’ Deficit:
Preferred stock, $1 par value per share	0	0
Common stock, $0.01 par value per share	0.3	0.3
Capital surplus	2,316.5	2,312.6
Accumulated deficit	(2,224.2)	(2,239.3)
Accumulated other comprehensive loss	(359.7)	(360.3)
Treasury stock, at cost (410 shares)	(92.7)	(92.7)
Total shareholders’ deficit	(359.8)	(379.4)
Total Liabilities and Shareholders’ Deficit	$ 1,886	$ 1,879.4

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 1	$ 1
Common stock, par value	$ 0.01	$ 0.01
Treasury stock, shares	410	410

Statements of Consolidated Comp

Statements of Consolidated Comprehensive Loss (Unaudited) - USD ($) shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Statement of Comprehensive Income [Abstract]
Loss on extinguishment of debt	$ 0	$ 0	$ 0	$ (0.6)
Operating Revenue	1,207.6	1,258.4	2,327.9	2,444.8
Operating Expenses:
Salaries, wages and employee benefits	718.7	715.5	1,416.8	1,422.8
Operating expenses and supplies	198.6	232.8	388.8	461
Purchased transportation	136.7	148	252.2	281.4
Depreciation and amortization	38.5	41.3	79.2	82.9
Other operating expenses	69	64.6	131.7	135.5
(Gains) losses on property disposals, net	(11.1)	(0.7)	(11.4)	0.6
Total operating expenses	1,150.4	1,201.5	2,257.3	2,384.2
Operating Income	57.2	56.9	70.6	60.6
Nonoperating Expenses:
Interest expense	26.2	27.9	52.3	55.5
Other, net	(0.8)	0.7	0.3	(3.6)
Nonoperating expenses, net	25.4	28.6	52.6	52.5
Income before income taxes	31.8	28.3	18	8.1
Income tax expense	4.7	2.3	2.9	3.7
Net Income	27.1	26	15.1	4.4
Other comprehensive income, net of tax	3.2	5.4	0.6	4.8
Comprehensive Income Attributable to YRC Worldwide Inc.	$ 30.3	$ 31.4	$ 15.7	$ 9.2
Average Common Shares Outstanding – Basic (in shares)	32,459	31,929	32,362	31,367
Average Common Shares Outstanding – Diluted (in shares)	32,854	32,582	32,814	32,562
Basic and Diluted Loss Per Share
Earnings (Loss) Per Share – Basic (in dollars per share)	$ 0.84	$ 0.81	$ 0.47	$ 0.14
Loss Per Share – Diluted (in dollars per share)	$ 0.83	$ 0.80	$ 0.46	$ 0.13

Statements of Consolidated Cash

Statements of Consolidated Cash Flows (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Operating Activities:
Net Income	$ 15.1	$ 4.4
Noncash items included in net income:
Depreciation and amortization	79.2	82.9
Noncash equity-based compensation and employee benefits expense	11.3	11.7
(Gains) losses on property disposals, net	(11.4)	0.6
Gain on disposal of equity method investment	(2.3)	0
Other noncash items, net	6.4	3.8
Changes in assets and liabilities, net:
Accounts receivable	(55.3)	(43.2)
Accounts payable	7.3	11.7
Other operating assets	3.2	(0.6)
Other operating liabilities	(6)	(40.2)
Net cash provided by operating activities	47.5	31.1
Investing Activities:
Acquisition of property and equipment	(47.3)	(42.6)
Proceeds from disposal of property and equipment	21	13.1
Restricted escrow receipts	57.1	42
Restricted escrow deposits	0	(10)
Proceeds from disposal of equity method investment, net	14.6	0
Other, net	0	0.4
Net cash provided by investing activities	45.4	2.9
Financing Activities:
Repayments of long-term debt	(21.4)	(9.1)
Debt issuance costs	(1.8)	0
Net cash used in financing activities	(23.2)	(9.1)
Net Increase In Cash and Cash Equivalents	69.7	24.9
Cash and Cash Equivalents, Beginning of Period	173.8	171.1
Cash and Cash Equivalents, End of Period	243.5
Supplemental Cash Flow Information:
Interest paid	(44.2)	(54.1)
Income tax refund (payment), net	(3.4)	0.4
Debt redeemed for equity consideration	$ 0	$ 17.9

Statement of Consolidated Share

Statement of Consolidated Shareholders' Deficit (Unaudited) - 6 months ended Jun. 30, 2016 - USD ($) $ in Millions	Total	Preferred Stock:	Common Stock:	Capital Surplus:	Accumulated Deficit:	Accumulated Other Comprehensive Loss:	Treasury Stock, At Cost:
Beginning balance at Dec. 31, 2015				$ 2,312.6	$ (2,239.3)	$ (360.3)	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity-based compensation	$ 11.3			3.9
Net income					15.1
Reclassification of net pension actuarial losses to net income, net of tax						6.8
Foreign currency translation adjustments						4.2
Ending balance at Jun. 30, 2016	$ (359.8)	$ 0	$ 0.3	$ 2,316.5	$ (2,224.2)	$ (359.7)	$ (92.7)

Description of Business

Description of Business	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Description of Business	Description of Business YRC Worldwide Inc. (also referred to as “YRC Worldwide,” the “Company,” “we,” “us” or “our”) is a holding company that, through wholly owned operating subsidiaries, offers its customers a wide range of transportation services. We have one of the largest, most comprehensive less-than-truckload (“LTL”) networks in North America with local, regional, national and international capabilities. Through our team of experienced service professionals, we offer expertise in LTL shipments and flexible supply chain solutions, ensuring customers can ship industrial, commercial and retail goods with confidence. Our reporting segments include the following: • YRC Freight is the reporting segment that focuses on longer haul business opportunities with national, regional and international services. YRC Freight provides for the movement of industrial, commercial and retail goods, primarily through centralized management. This reporting segment includes YRC Inc. (“YRC Freight”), a U.S. LTL subsidiary, and Reimer Express (“YRC Reimer”), a subsidiary located in Canada that specializes in shipments into, across and out of Canada. In addition to the United States and Canada, YRC Freight also serves parts of Mexico, Puerto Rico and Guam. • Regional Transportation is the reporting segment for our transportation service providers focused on business opportunities in the regional and next-day delivery markets. Regional Transportation is comprised of USF Holland Inc. (“Holland”), New Penn Motor Express, Inc. (“New Penn”) and USF Reddaway Inc. (“Reddaway”). These companies each provide regional, next-day ground services in their respective regions through a network of facilities located across the United States, Canada, Mexico and Puerto Rico. At June 30, 2016 , approximately 78% of our labor force is subject to collective bargaining agreements, which predominantly expire in March 2019.

Principles of Consolidation

Principles of Consolidation	6 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Principles of Consolidation	Principles of Consolidation The accompanying Consolidated Financial Statements include the accounts of YRC Worldwide and its wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. We report on a calendar year basis. The quarters of the Regional Transportation companies (with the exception of New Penn) consist of thirteen weeks that end on a Saturday either before or after the end of March, June and September, whereas all other operating segment quarters end on the natural calendar quarter end. Our investment in our Chinese joint venture, a non-majority owned affiliate, was sold in March 2016 and was accounted for on the equity method. We make estimates and assumptions that affect the amounts reported in the Consolidated Financial Statements and notes. Actual results could differ from those estimates. We have prepared the Consolidated Financial Statements, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). In our opinion, we have made all normal recurring adjustments necessary for a fair statement of the financial position, results of operations and cash flows for the interim periods included in these financial statements. Certain information and note disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles (“GAAP”) have been condensed or omitted from these statements pursuant to SEC rules and regulations. Accordingly, the accompanying Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements included in our Annual Report on Form 10-K for the year ended December 31, 2015 . Fair Value of Financial Instruments The following table summarizes the fair value hierarchy of our financial assets and liabilities carried at fair value on a recurring basis as of June 30, 2016 : Fair Value Measurement Hierarchy (in millions) Total Carrying Value Quoted prices in active market (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Restricted amounts held in escrow-current $ 61.4 $ 61.4 $ — $ — Restricted amounts held in escrow-long term 3.7 3.7 — — Total assets at fair value $ 65.1 $ 65.1 $ — $ — Restricted amounts held in escrow are invested in money market accounts and are recorded at fair value based on quoted market prices. The carrying value of cash and cash equivalents, accounts receivable and accounts payable approximate their fair value due to the short-term nature of these instruments. Equity Method Investment On October 23, 2015, the Company entered into a sale and purchase agreement to sell its fifty percent equity interest in its Chinese joint venture, JHJ International Transportation Co., Ltd. (“JHJ”), for a purchase price of $16.3 million , which subsequently closed on March 30, 2016. At closing, we received proceeds of $16.3 million and paid transaction fees of $1.7 million . As of March 30, 2016, the carrying value of the investment was $22.7 million with an offsetting cumulative foreign translation adjustment of $10.4 million , resulting in a net gain on the transaction of $2.3 million . The gain on the transaction is reflected in “Nonoperating expenses - other, net” in the accompanying statement of consolidated comprehensive income for the six months ended June 30, 2016 . Reclassifications Out of Accumulated Other Comprehensive Loss For the three and six months ended June 30, 2016 , we reclassified the amortization of our net pension loss totaling $3.4 million and $6.8 million , respectively, net of tax, from accumulated other comprehensive loss to net income. For the three and six months ended June 30, 2015 , we reclassified the amortization of our net pension loss totaling $3.9 million and $8.0 million respectively, net of tax, from accumulated other comprehensive loss to net income. This reclassification is a component of net periodic pension cost and is discussed in the “Employee Benefits” footnote. Impact of Recently Issued Accounting Standards In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-09, Improvements to Employee Share-Based Payment Accounting, which simplifies several aspects of the accounting for employee share-based payment transactions including the accounting for income taxes, statutory tax withholding requirements, and classification of related amounts within the statement of cash flows. The new standard will become effective for the Company beginning with the first quarter of 2017, with early adoption permitted. The Company is currently evaluating the impacts the adoption of this accounting guidance will have on the consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases , which requires lessees to recognize most leases, including operating leases, on-balance sheet via a right of use asset and lease liability. Lessees are permitted to make an accounting policy election to not recognize an asset or liability for leases with a term of 12 months or less. Additional qualitative and quantitative disclosures will be required. The new standard will be effective for the Company for its annual reporting period beginning January 1, 2019, including interim periods within that reporting period. Early application is permitted. The ASU requires a modified retrospective transition, which means the Company will be required to apply the new guidance at the beginning of the earliest period presented in the financial statements; however, companies may elect to apply certain practical expedients on transition. The Company is currently evaluating the impacts of this new standard to its consolidated balance sheets, results of operations and related disclosures. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers, Deferral of the Effective date, which defers the effective date of ASU 2014-9, Revenue from Contracts with Customers . The new standard will supersede much of the previous requirements in ASU-605, Revenue Recognition and most industry specific guidance and introduces a five-step model to determine when and how revenue is recognized. The premise of the new model is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The new standard will be effective for the Company for its annual reporting period beginning January 1, 2018, including interim periods within that reporting period. Early application is permitted for annual periods beginning January 1, 2017. Entities are allowed to transition to the new standard by either recasting prior periods or recognizing the cumulative effect. The Company continues to assess the method of application and impact, if any, on our consolidated balance sheets, results of operations and related disclosures. In April 2015, the FASB issued ASU 2015-03, Interest - Imputation of Interest , which required debt issue costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with the accounting treatment for debt discounts. The Company adopted the standard as of January 1, 2016 and applied it retrospectively. The December 31, 2015 consolidated balance sheet was adjusted to reflect the reclassification of $15.2 million in debt issuance costs from “Other assets” to “Long-term debt.” There was no other impact as a result of the adoption of this standard.

Debt and Financing

Debt and Financing	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Debt and Financing	Debt and Financing Our outstanding debt as of June 30, 2016 consisted of the following: As of June 30, 2016 (in millions) Par Value Discount Debt Issuance Costs Book Value Stated Interest Rate Average Effective Interest Rate Term Loan $ 682.5 $ (3.6 ) $ (10.6 ) $ 668.3 8.00 % (a) 8.20 % ABL Facility — — — — N/A N/A Secured Second A&R CDA 30.5 — (0.2 ) 30.3 3.3-18.3% 7.3 % Unsecured Second A&R CDA 73.2 — (0.5 ) 72.7 3.3-18.3% 7.3 % Lease financing obligations 274.6 — (1.5 ) 273.1 9.0-18.2% 12.0 % Total debt $ 1,060.8 $ (3.6 ) $ (12.8 ) $ 1,044.4 Current maturities of Term Loan (7.0 ) — — (7.0 ) Current maturities of lease financing obligations (9.4 ) — — (9.4 ) Long-term debt $ 1,044.4 $ (3.6 ) $ (12.8 ) $ 1,028.0 (a) Variable interest rate of 1, 3 or 6-month LIBOR, with a floor of 1.0% plus a fixed margin of 7.0% . ABL Facility Amendment On June 28, 2016, the Company entered into Amendment No. 2 to the asset based loan facility (the “ABL Facility”), which amended several key terms, to include: (1) a 50 bps reduction in interest spread from LIBOR plus 2.25% , to LIBOR plus 1.75% , (2) the option to extend maturity from February 13, 2019 to June 28, 2021, subject to the refinancing, replacement or extension beyond June 28, 2021 of the credit agreement (the “Term Loan Agreement”) governing our term loan facility (the “Term Loan”), and (3) increased flexibility to manage and optimize the amount of cash included in the borrowing base by (i) providing the Company more flexibility as to the timing of testing the eligible borrowing base cash and (ii) reducing the availability requirements under our ABL Facility to 10% of the collateral line cap from 15% . ABL Facility Availability Our principal sources of liquidity are cash and cash equivalents, available borrowings under our ABL Facility and net cash flow from operations. As of June 30, 2016 , we had cash and cash equivalents of $243.5 million and the borrowing base and maximum availability on our ABL Facility were $435.5 million and $78.9 million , respectively. The maximum availability is calculated in accordance with the terms of the ABL Facility and is derived by reducing the borrowing base by our $356.6 million of outstanding letters of credit. While our ABL Agreement permits us to access maximum availability outside of certain financial covenant restrictions (which restrictions did not limit our availability as of June 30, 2016 ), the maximum amount we expect to access on our ABL Facility at any time is maximum availability less the lower of 10% of the borrowing base ( $43.6 million at June 30, 2016 ) or 10% of the collateral line cap ( $45.0 million at June 30, 2016 ). Thus, of the $78.9 million in maximum availability, we expected to access no more than $35.3 million as of June 30, 2016 (“Managed Accessibility”). As a result, we had cash and cash equivalents and Managed Accessibility of $278.8 million as of June 30, 2016 . Credit Facility Covenants The Term Loan Agreement governing our Term Loan has certain financial covenants, as amended in September 2014, that, among other things, restricts certain capital expenditures and requires us to not exceed a maximum total leverage ratio (defined as Consolidated Total Debt divided by Consolidated Adjusted EBITDA, each as defined below). Our total maximum leverage ratio covenants are as follows: Four Consecutive Fiscal Quarters Ending Maximum Total Leverage Ratio Four Consecutive Fiscal Quarters Ending Maximum Total Leverage Ratio June 30, 2016 3.75 to 1.00 June 30, 2017 3.25 to 1.00 September 30, 2016 3.75 to 1.00 September 30, 2017 3.25 to 1.00 December 31, 2016 3.50 to 1.00 December 31, 2017 and thereafter 3.00 to 1.00 March 31, 2017 3.25 to 1.00 Consolidated Adjusted EBITDA, defined in our Term Loan Agreement as “Consolidated EBITDA,” is a measure that reflects our earnings before interest, taxes, depreciation, and amortization expense, and is further adjusted for, among other things, letter of credit fees, equity-based compensation expense, net gains or losses on property disposals, restructuring professional fees, nonrecurring consulting fees, expenses associated with certain lump sum payments to our International Brotherhood of Teamsters (“IBT”) employees and the results of permitted dispositions and discontinued operations. Consolidated Total Debt, as defined in our Term Loan Agreement, is the aggregate principal amount of indebtedness outstanding. Our total leverage ratio for the four consecutive fiscal quarters ending June 30, 2016 was 3.32 to 1.00. We believe that our results of operations will be sufficient to allow us to comply with the covenants in the Term Loan Agreement, fund our operations, increase working capital as necessary to support our planned revenue growth and fund capital expenditures for at least the next twelve months. In order for us to maintain compliance with the maximum total leverage ratio over the tenor of the Term Loan and satisfy our liquidity needs, we must achieve improvement over our recent results. Improvements to our profitability may include ongoing successful implementation and realization of pricing, productivity and efficiency initiatives, as well as increased volume, some of which are outside of our control. Fair Value Measurement The book value and estimated fair values of our long-term debt, including current maturities and other financial instruments, are summarized as follows: June 30, 2016 December 31, 2015 (in millions) Book Value Fair value Book Value Fair value Term Loan $ 668.3 $ 621.6 $ 669.0 $ 594.6 Lease financing obligations 273.1 260.9 276.3 282.9 Second A&R CDA 103.0 94.5 117.1 102.1 Total debt $ 1,044.4 $ 977.0 $ 1,062.4 $ 979.6 The fair values of the Term Loan and the Secured and Unsecured Second Amended and Restated Contribution Deferral Agreement (the “Second A&R CDA”) were estimated based on observable prices (level two inputs for fair value measurements). The fair value of the lease financing obligations is estimated using a publicly traded secured loan with similar characteristics (level three input for fair value measurement). Leases As of June 30, 2016 , our minimum rental expense under operating leases for the remainder of the year was $47.3 million . As of June 30, 2016 , our operating lease payment obligations through 2030 totaled $299.8 million and is expected to increase as we lease additional revenue equipment. Additionally, for the six months ended June 30, 2016 , we entered into new operating leases for revenue equipment totaling $58.4 million in future lease payments, payable over an average lease term of five years. Our capital expenditures for the six months ended June 30, 2016 and 2015 were $47.3 million and $42.6 million , respectively. These amounts were principally used to fund the purchase of used tractors and trailers, to refurbish engines for our revenue fleet, and capitalized costs for technology infrastructure.

Employee Benefits

Employee Benefits	6 Months Ended
	Jun. 30, 2016
Compensation and Retirement Disclosure [Abstract]
Employee Benefits	Employee Benefits Qualified and Nonqualified Defined Benefit Pension Plans The following table presents the components of our company-sponsored pension costs for the three and six months ended June 30 : Three Months Six Months (in millions) 2016 2015 2016 2015 Service cost $ 1.6 $ 1.2 $ 3.2 $ 2.4 Interest cost 14.0 14.3 28.0 28.6 Expected return on plan assets (14.1 ) (15.0 ) (28.2 ) (30.0 ) Amortization of net pension loss 3.4 4.0 6.8 8.0 Total periodic pension cost $ 4.9 $ 4.5 $ 9.8 $ 9.0 We expect to contribute $45.4 million to our company-sponsored pension plans in 2016 of which we have contributed $13.5 million through June 30, 2016 . Performance Incentive Awards The Company granted performance stock units in February 2016 that will be settled in cash as the stock units vest equally over the next three years, with the first vesting occurring in February 2017. The awards are liability classified and remeasured to fair value at each reporting date until settlement.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Our effective tax rate for the three and six months ended June 30, 2016 was 14.8% and 16.1% , compared to 8.1% and 45.7% for the three and six months ended June 30, 2015 . The significant items impacting the 2016 rate include a provision for federal alternative minimum tax, a net state and foreign tax provision, certain permanent items, and a change in the valuation allowance established for the net deferred tax asset balance projected for December 31, 2016 . The significant items impacting the 2015 rate include a net state and foreign tax provision, certain permanent items, and a change in the valuation allowance established for the net deferred tax asset balance that had been projected for December 31, 2015 . We recognize valuation allowances on deferred tax assets if, based on the weight of the evidence, we determine it is more likely than not such assets will not be realized. Changes in valuation allowances are included in our tax provision in the period of change. In determining whether a valuation allowance is warranted, we evaluate factors such as prior years’ earnings history, expected future earnings, loss carry-back and carry-forward periods, reversals of existing deferred tax liabilities and tax planning strategies that potentially enhance the likelihood of the realization of a deferred tax asset. At June 30, 2016 and December 31, 2015 , substantially all of our net deferred tax assets were subject to a valuation allowance.

Shareholders' Deficit

Shareholders' Deficit	6 Months Ended
	Jun. 30, 2016
Stockholders' Equity Note [Abstract]
Shareholders' Deficit	Shareholders’ Deficit The following reflects the activity in the shares of our common stock for the six months ended June 30, 2016 : (shares in thousands) 2016 Beginning balance 32,141 Issuance of equity awards 320 Ending balance 32,461

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share We calculate basic earnings per share by dividing our net earnings by our weighted-average shares outstanding at the end of the period. The calculation for diluted earnings per share adjusts the weighted average shares outstanding for our dilutive unvested shares and stock units using the treasury stock method and for our convertible notes using the if-converted method. Our calculations for basic and dilutive earnings per share for the three and six months ended June 30, 2016 and 2015 are as follows: Three Months Six Months (dollars in millions, except per share data, shares and stock units in thousands) 2016 2015 2016 2015 Basic and dilutive net income available to common shareholders $ 27.1 $ 26.0 $ 15.1 $ 4.4 Basic weighted average shares outstanding 32,459 31,929 32,362 31,367 Effect of dilutive securities: Unvested shares and stock units 395 653 452 711 Series B Notes — — — 484 Dilutive weighted average shares outstanding 32,854 32,582 32,814 32,562 Basic earnings per share (a) $ 0.84 $ 0.81 $ 0.47 $ 0.14 Diluted earnings per share (a) $ 0.83 $ 0.80 $ 0.46 $ 0.13 (a) Earnings per share is based on unrounded figures and not the rounded figures presented. At June 30 , 2016 and 2015 , our anti-dilutive unvested shares, options, and stock units were approximately 497,000 and 237,000 , respectively.

Business Segments

Business Segments	6 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Business Segments	Business Segments We report financial and descriptive information about our reporting segments on a basis consistent with that used internally for evaluating segment performance and allocating resources to segments. We evaluate segment performance primarily on external revenue, operating income (loss), and operating ratio. We charge management fees and other corporate service fees to our reporting segments based on the benefits received or an overhead allocation basis. Corporate and other operating losses represent residual operating expenses of the holding company. Corporate identifiable assets primarily consist of cash and cash equivalents. Intersegment revenue primarily relates to transportation services between our segments. The following table summarizes our operations by business segment: (in millions) YRC Freight Regional Transportation Corporate/ Eliminations Consolidated As of June 30, 2016 Identifiable assets $ 1,381.2 $ 666.4 $ (161.6 ) $ 1,886.0 As of December 31, 2015 Identifiable assets $ 1,351.5 $ 652.9 $ (125.0 ) $ 1,879.4 Three Months Ended June 30, 2016 External revenue $ 755.0 $ 452.8 $ (0.2 ) $ 1,207.6 Operating income (loss) $ 28.4 $ 30.6 $ (1.8 ) $ 57.2 Six Months Ended June 30, 2016 External revenue $ 1,450.7 $ 877.6 $ (0.4 ) $ 2,327.9 Operating income (loss) $ 32.5 $ 43.0 $ (4.9 ) $ 70.6 Three Months Ended June 30, 2015 External revenue $ 795.2 $ 463.2 $ — $ 1,258.4 Operating income (loss) $ 22.5 $ 37.7 $ (3.3 ) $ 56.9 Six Months Ended June 30, 2015 External revenue $ 1,532.8 $ 912.0 $ — $ 2,444.8 Operating income (loss) $ 22.7 $ 42.3 $ (4.4 ) $ 60.6

Commitments, Contingencies and

Commitments, Contingencies and Uncertainties	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments, Contingencies and Uncertainties	Commitments, Contingencies and Uncertainties California Labor Law Change In October 2015, California adopted new rules governing the payment of piece-rate compensation. New California Labor Code section 226.2 sets forth requirements for the payment of a separate hourly wage for “nonproductive” time worked by piece-rate employees, and separate payment for compensable rest and recovery periods to those employees. The Company continues to assess the impact of this new law and ongoing compliance measures. We believe the possible loss or range of loss is inconsequential to our consolidated financial statements. Other Legal Matters We are involved in litigation or proceedings that arise in ordinary business activities. When possible, we insure against these risks to the extent we deem prudent, but no assurance can be given that the nature or amount of such insurance will be sufficient to fully indemnify us against liabilities arising out of pending and future legal proceedings. Many of these insurance policies contain self-insured retentions in amounts we deem prudent. Based on our current assessment of information available as of the date of these financial statements, we believe that our financial statements include adequate provisions for estimated costs and losses that may be incurred within the litigation and proceedings to which we are a party.

Principles of Consolidation (Ta

Principles of Consolidation (Tables)	6 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	The following table summarizes the fair value hierarchy of our financial assets and liabilities carried at fair value on a recurring basis as of June 30, 2016 : Fair Value Measurement Hierarchy (in millions) Total Carrying Value Quoted prices in active market (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Restricted amounts held in escrow-current $ 61.4 $ 61.4 $ — $ — Restricted amounts held in escrow-long term 3.7 3.7 — — Total assets at fair value $ 65.1 $ 65.1 $ — $ —

Debt and Financing (Tables)

Debt and Financing (Tables)	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Schedule of Debt [Table Text Block]	Our outstanding debt as of June 30, 2016 consisted of the following: As of June 30, 2016 (in millions) Par Value Discount Debt Issuance Costs Book Value Stated Interest Rate Average Effective Interest Rate Term Loan $ 682.5 $ (3.6 ) $ (10.6 ) $ 668.3 8.00 % (a) 8.20 % ABL Facility — — — — N/A N/A Secured Second A&R CDA 30.5 — (0.2 ) 30.3 3.3-18.3% 7.3 % Unsecured Second A&R CDA 73.2 — (0.5 ) 72.7 3.3-18.3% 7.3 % Lease financing obligations 274.6 — (1.5 ) 273.1 9.0-18.2% 12.0 % Total debt $ 1,060.8 $ (3.6 ) $ (12.8 ) $ 1,044.4 Current maturities of Term Loan (7.0 ) — — (7.0 ) Current maturities of lease financing obligations (9.4 ) — — (9.4 ) Long-term debt $ 1,044.4 $ (3.6 ) $ (12.8 ) $ 1,028.0 (a) Variable interest rate of 1, 3 or 6-month LIBOR, with a floor of 1.0% plus a fixed margin of 7.0% .
Schedule of Maximum Total Leverage Ratio for Remaining Test Periods [Table Text Block]	Our total maximum leverage ratio covenants are as follows: Four Consecutive Fiscal Quarters Ending Maximum Total Leverage Ratio Four Consecutive Fiscal Quarters Ending Maximum Total Leverage Ratio June 30, 2016 3.75 to 1.00 June 30, 2017 3.25 to 1.00 September 30, 2016 3.75 to 1.00 September 30, 2017 3.25 to 1.00 December 31, 2016 3.50 to 1.00 December 31, 2017 and thereafter 3.00 to 1.00 March 31, 2017 3.25 to 1.00
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block]	The book value and estimated fair values of our long-term debt, including current maturities and other financial instruments, are summarized as follows: June 30, 2016 December 31, 2015 (in millions) Book Value Fair value Book Value Fair value Term Loan $ 668.3 $ 621.6 $ 669.0 $ 594.6 Lease financing obligations 273.1 260.9 276.3 282.9 Second A&R CDA 103.0 94.5 117.1 102.1 Total debt $ 1,044.4 $ 977.0 $ 1,062.4 $ 979.6

Employee Benefits (Tables)

Employee Benefits (Tables)	6 Months Ended
	Jun. 30, 2016
Compensation and Retirement Disclosure [Abstract]
Schedule of Costs of Retirement Plans [Table Text Block]	The following table presents the components of our company-sponsored pension costs for the three and six months ended June 30 : Three Months Six Months (in millions) 2016 2015 2016 2015 Service cost $ 1.6 $ 1.2 $ 3.2 $ 2.4 Interest cost 14.0 14.3 28.0 28.6 Expected return on plan assets (14.1 ) (15.0 ) (28.2 ) (30.0 ) Amortization of net pension loss 3.4 4.0 6.8 8.0 Total periodic pension cost $ 4.9 $ 4.5 $ 9.8 $ 9.0

Shareholders' Deficit (Tables)

Shareholders' Deficit (Tables)	6 Months Ended
	Jun. 30, 2016
Stockholders' Equity Note [Abstract]
Schedule of Stockholders Equity [Table Text Block]	The following reflects the activity in the shares of our common stock for the six months ended June 30, 2016 : (shares in thousands) 2016 Beginning balance 32,141 Issuance of equity awards 320 Ending balance 32,461

Earnings Per Share Basic and Di

Earnings Per Share Basic and Diluted Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Our calculations for basic and dilutive earnings per share for the three and six months ended June 30, 2016 and 2015 are as follows: Three Months Six Months (dollars in millions, except per share data, shares and stock units in thousands) 2016 2015 2016 2015 Basic and dilutive net income available to common shareholders $ 27.1 $ 26.0 $ 15.1 $ 4.4 Basic weighted average shares outstanding 32,459 31,929 32,362 31,367 Effect of dilutive securities: Unvested shares and stock units 395 653 452 711 Series B Notes — — — 484 Dilutive weighted average shares outstanding 32,854 32,582 32,814 32,562 Basic earnings per share (a) $ 0.84 $ 0.81 $ 0.47 $ 0.14 Diluted earnings per share (a) $ 0.83 $ 0.80 $ 0.46 $ 0.13 (a) Earnings per share is based on unrounded figures and not the rounded figures presented.

Business Segments (Tables)

Business Segments (Tables)	6 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	The following table summarizes our operations by business segment: (in millions) YRC Freight Regional Transportation Corporate/ Eliminations Consolidated As of June 30, 2016 Identifiable assets $ 1,381.2 $ 666.4 $ (161.6 ) $ 1,886.0 As of December 31, 2015 Identifiable assets $ 1,351.5 $ 652.9 $ (125.0 ) $ 1,879.4 Three Months Ended June 30, 2016 External revenue $ 755.0 $ 452.8 $ (0.2 ) $ 1,207.6 Operating income (loss) $ 28.4 $ 30.6 $ (1.8 ) $ 57.2 Six Months Ended June 30, 2016 External revenue $ 1,450.7 $ 877.6 $ (0.4 ) $ 2,327.9 Operating income (loss) $ 32.5 $ 43.0 $ (4.9 ) $ 70.6 Three Months Ended June 30, 2015 External revenue $ 795.2 $ 463.2 $ — $ 1,258.4 Operating income (loss) $ 22.5 $ 37.7 $ (3.3 ) $ 56.9 Six Months Ended June 30, 2015 External revenue $ 1,532.8 $ 912.0 $ — $ 2,444.8 Operating income (loss) $ 22.7 $ 42.3 $ (4.4 ) $ 60.6

Description of Business (Detail

Description of Business (Details)	6 Months Ended
	Jun. 30, 2016
Workforce Subject to Collective Bargaining Arrangements [Member] | Labor Force Concentration Risk [Member]
Concentration Risk [Line Items]
Percentage of workforce subject to collective bargaining agreements	78.00%

Principles of Consolidation (Fa

Principles of Consolidation (Fair Value Measurement) (Details) - Fair Value, Measurements, Recurring [Member] $ in Millions	Jun. 30, 2016USD ($)
Quoted prices in active market (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted amounts held in escrow-current	$ 61.4
Restricted amounts held in escrow-long term	3.7
Total assets at fair value	65.1
Significant other observable inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted amounts held in escrow-current	0
Restricted amounts held in escrow-long term	0
Total assets at fair value	0
Significant unobservable inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted amounts held in escrow-current	0
Restricted amounts held in escrow-long term	0
Total assets at fair value	0
Carrying (Reported) Amount, Fair Value Disclosure [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Restricted amounts held in escrow-current	61.4
Restricted amounts held in escrow-long term	3.7
Total assets at fair value	$ 65.1

Principles of Consolidation (Re

Principles of Consolidation (Reclassification Out of Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Accumulated Other Comprehensive Income (Loss) [Member]
Reclassifications out of Accumulated Comprehensive loss [Line Items]
Reclassification of net pension actuarial losses to net income, net of tax	$ 3.4	$ 3.9	$ 6.8	$ 8
JHJ International Transportation Co., Ltd. [Member]
Reclassifications out of Accumulated Comprehensive loss [Line Items]
Equity Method Investment, Ownership Percentage	50.00%		50.00%
Reclassification of Investment	$ 16.3
Equity Method Investment, Net Sales Proceeds			$ 16.3
Transaction fees for JHJ disposal			1.7
JHJ Carrying Amount - Equity Method Investment			22.7
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, Net of Tax			10.4
Gain (Loss) on Sale of Equity Investments			$ 2.3
Other assets | Accounting Standards Update 2015-03 [Member]
Reclassifications out of Accumulated Comprehensive loss [Line Items]
Deferred finance costs, net					$ (15.2)
Long-term debt | Accounting Standards Update 2015-03 [Member]
Reclassifications out of Accumulated Comprehensive loss [Line Items]
Deferred finance costs, net					$ 15.2

Debt and Financing (Details)

Debt and Financing (Details)	Jun. 30, 2016USD ($)	Jun. 30, 2016USD ($)	Jun. 27, 2016USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 1,060,800,000	$ 1,060,800,000
Premium/(Discount), Debt	(3,600,000)	(3,600,000)
Debt Issuance Cost	(12,800,000)	(12,800,000)
Book Value	1,044,400,000	1,044,400,000
Book Value, Current Maturities	(16,400,000)	(16,400,000)				$ (15,900,000)
Par Value, Excluding Current Maturities	1,044,400,000	1,044,400,000
Debt Instrument, Unamortized Discount (Premium), Net, Noncurrent Maturities	3,600,000	3,600,000
Book Value, Excluding Current Maturities	1,028,000,000	1,028,000,000				1,046,500,000
Debt Instrument, Borrowing Base Cash Release As Percent Of Collateral	0.10		$ 0.15
Cash and cash equivalents	243,500,000	243,500,000				173,800,000	$ 196,000,000	$ 171,100,000
Operating leases, future minimum payments, remainder of fiscal year	47,300,000	47,300,000
Operating leases, future minimum payments due	299,800,000	299,800,000
Acquisition of property and equipment		(47,300,000)		$ (42,600,000)
Carrying Amount [Member]
Debt Instrument [Line Items]
Long-term Debt, Fair Value	1,044,400,000	1,044,400,000				1,062,400,000
Fair Value [Member]
Debt Instrument [Line Items]
Long-term Debt, Fair Value	977,000,000	977,000,000				979,600,000
Term Loan
Debt Instrument [Line Items]
Long-term Debt, Gross	682,500,000	682,500,000
Premium/(Discount), Debt	(3,600,000)	(3,600,000)
Debt Issuance Cost	(10,600,000)	(10,600,000)
Book Value	668,300,000	668,300,000
Debt Instrument, Gross, Current Maturities	(7,000,000)	(7,000,000)
Premium/(Discount), Current Maturities	0	0
Deferred Finance Costs, Current, Net	0	0
Book Value, Current Maturities	$ (7,000,000)	$ (7,000,000)
Stated Interest Rate	8.00%	8.00%
Average Effective Interest Rate	8.20%	8.20%
Term Loan | Carrying Amount [Member]
Debt Instrument [Line Items]
Long-term Debt, Fair Value	$ 668,300,000	$ 668,300,000				669,000,000
Term Loan | Fair Value [Member]
Debt Instrument [Line Items]
Long-term Debt, Fair Value	621,600,000	621,600,000				594,600,000
Line of Credit [Member] | 2014 ABL Facility Credit Agreement [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	0	0
Premium/(Discount), Debt	0	0
Debt Issuance Cost	0	0
Book Value	0	0
Borrowing base	435,500,000	435,500,000
Line of credit facility, total cash and availability	78,900,000	78,900,000
Secured Second A&R CDA [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	30,500,000	30,500,000
Premium/(Discount), Debt	0	0
Debt Issuance Cost	(200,000)	(200,000)
Book Value	$ 30,300,000	$ 30,300,000
Average Effective Interest Rate	7.30%	7.30%
Stated Interest Rate, Minimum		3.30%
Stated Interest Rate, Maximum		18.30%
Unsecured Second A&R CD [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 73,200,000	$ 73,200,000
Premium/(Discount), Debt	0	0
Debt Issuance Cost	(500,000)	(500,000)
Book Value	$ 72,700,000	$ 72,700,000
Average Effective Interest Rate	7.30%	7.30%
Stated Interest Rate, Minimum		3.30%
Stated Interest Rate, Maximum		18.30%
Lease Financing Obligations [Member]
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 274,600,000	$ 274,600,000
Premium/(Discount), Debt	0	0
Debt Issuance Cost	(1,500,000)	(1,500,000)
Book Value	273,100,000	273,100,000
Debt Instrument, Gross, Current Maturities	(9,400,000)	(9,400,000)
Premium/(Discount), Current Maturities	0	0
Deferred Finance Costs, Current, Net	0	0
Book Value, Current Maturities	$ (9,400,000)	$ (9,400,000)
Average Effective Interest Rate	12.00%	12.00%
Stated Interest Rate, Minimum		9.00%
Stated Interest Rate, Maximum		18.20%
Lease Financing Obligations [Member] | Carrying Amount [Member]
Debt Instrument [Line Items]
Long-term Debt, Fair Value	$ 273,100,000	$ 273,100,000				276,300,000
Lease Financing Obligations [Member] | Fair Value [Member]
Debt Instrument [Line Items]
Long-term Debt, Fair Value	260,900,000	260,900,000				282,900,000
Letter of Credit [Member] | 2014 ABL Facility Credit Agreement [Member]
Debt Instrument [Line Items]
Letters of credit outstanding, amount	356,600,000	356,600,000
10 percent of Borrowing Base	43,600,000	43,600,000
10 percent of line cap					$ 45,000,000
Other Debt Obligations [Member] | Carrying Amount [Member]
Debt Instrument [Line Items]
Long-term Debt, Fair Value	103,000,000	103,000,000				117,100,000
Other Debt Obligations [Member] | Fair Value [Member]
Debt Instrument [Line Items]
Long-term Debt, Fair Value	94,500,000	$ 94,500,000				$ 102,100,000
Credit Agreement Amendment, September 2014 [Member]
Debt Instrument [Line Items]
Maximum Total Leverage Ratio, June 30, 2016		3.75
Maximum Total Leverage Ratio, September 30, 2016		3.75
Maximum Total Leverage Ratio, December 31, 2016		3.5
Maximum Total Leverage Ratio, March 31, 2017		3.25
Maximum Total Leverage Ratio, June 30, 2017		3.25
Maximum Total Leverage Ratio, September 30, 2017		3.25
Maximum Total Leverage Ratio, December 31, 2017 and thereafter		3
Debt Instrument, Total Leverage Ratio					3.32
2014 ABL Facility Credit Agreement [Member]
Debt Instrument [Line Items]
Amount able to be drawn		$ 35,300,000
2014 ABL Facility Credit Agreement [Member] | Line of Credit [Member]
Debt Instrument [Line Items]
Line of credit facility, total cash and availability	278,800,000	278,800,000
Revenue Equipment [Member]
Debt Instrument [Line Items]
Operating lease commitment	$ 58,400,000	$ 58,400,000
Operating lease term		5 years
London Interbank Offered Rate (LIBOR) [Member] | Term Loan
Debt Instrument [Line Items]
Floor interest rate	1.00%	1.00%
Basis Spread On Variable Rate, Total Leverage Ratio Less Than 3.25		7.00%
London Interbank Offered Rate (LIBOR) [Member] | ABL Facility [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	1.75%		2.25%

Employee Benefits (Details)

Employee Benefits (Details) - Other Postretirement Benefit Plans, Defined Benefit [Member] - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 1.6	$ 1.2	$ 3.2	$ 2.4
Interest cost	14	14.3	28	28.6
Expected return on plan assets	(14.1)	(15)	(28.2)	(30)
Amortization of net pension loss	3.4	4	6.8	8
Total periodic pension cost	4.9	$ 4.5	9.8	$ 9
Expected future benefit payments, remainder of the year	$ 45.4		45.4
Contributions by employer			$ 13.5

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Effective Tax Rate	14.80%	8.10%	16.10%	45.70%

Shareholders' Deficit (Details)

Shareholders' Deficit (Details) shares in Thousands	6 Months Ended
	Jun. 30, 2016shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	32,141
Issuance of equity awards	320
Ending balance	32,461

Loss Per Share (Details)

Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net Income (Loss) Available to Common Stockholders, Basic and Diluted	$ 27.1	$ 26	$ 15.1	$ 4.4
Basic weighted average shares outstanding	32,459	31,929	32,362	31,367
Dilutive weighted average shares outstanding	32,854	32,582	32,814	32,562
Basic earnings per share (in dollars per share)	$ 0.84	$ 0.81	$ 0.47	$ 0.14
Diluted earnings per share (in dollars per share)	$ 0.83	$ 0.80	$ 0.46	$ 0.13
Anti-dilutive securities excluded from computation of earnings per share			497	237
Unvested shares and stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Effect of dilutive securities:	395	653	452	711
Series B Notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Effect of dilutive securities:	0	0	0	484

Business Segments (Details)

Business Segments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Segment Reporting Information [Line Items]
Identifiable assets	$ 1,886		$ 1,886		$ 1,879.4
External revenue	1,207.6	$ 1,258.4	2,327.9	$ 2,444.8
Operating income (loss)	57.2	56.9	70.6	60.6
Operating Segments | YRC Freight
Segment Reporting Information [Line Items]
Identifiable assets	1,381.2		1,381.2		1,351.5
External revenue	755	795.2	1,450.7	1,532.8
Operating income (loss)	28.4	22.5	32.5	22.7
Operating Segments | Regional Transportation
Segment Reporting Information [Line Items]
Identifiable assets	666.4		666.4		652.9
External revenue	452.8	463.2	877.6	912
Operating income (loss)	30.6	37.7	43	42.3
Corporate/ Eliminations
Segment Reporting Information [Line Items]
Identifiable assets	(161.6)		(161.6)		$ (125)
External revenue	(0.2)	0	(0.4)	0
Operating income (loss)	$ (1.8)	$ (3.3)	$ (4.9)	$ (4.4)