Yellow (YELLQ) 10-Q 3 Nov 21 2021 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2021	Oct. 29, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Trading Symbol	YELL
Entity Registrant Name	Yellow Corporation
Entity Central Index Key	0000716006
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Common Stock, Shares Outstanding		51,285,710
Entity File Number	0-12255
Entity Tax Identification Number	48-0948788
Entity Address, Address Line One	10990 Roe Avenue
Entity Address, City or Town	Overland Park
Entity Address, State or Province	KS
Entity Address, Postal Zip Code	66211
City Area Code	913
Local Phone Number	696-6100
Entity Interactive Data Current	Yes
Entity Incorporation, State or Country Code	DE
Document Quarterly Report	true
Document Transition Report	false
Title of 12(b) Security	Common Stock, $0.01 par value per share
Security Exchange Name	NASDAQ

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Current Assets:
Cash and cash equivalents	$ 358.1	$ 439.3
Restricted amounts held in escrow	10.1	38.7
Accounts receivable, net	640.7	505
Prepaid expenses and other	64.2	46.8
Total current assets	1,073.1	1,029.8
Property and Equipment:
Cost	3,140	2,795.5
Less – accumulated depreciation	(2,030.7)	(2,031.3)
Net property and equipment	1,109.3	764.2
Deferred income taxes, net	1.9	0.9
Pension	61.1	63.2
Operating lease right-of-use assets	193.5	276
Other assets	23.9	51.7
Total Assets	2,462.8	2,185.8
Current Liabilities:
Accounts payable	196.4	160.7
Wages, vacations and employee benefits	250.2	214.6
Current operating lease liabilities	87.3	114.2
Claims and insurance accruals	112.5	108.2
Other accrued taxes	72	68.6
Other current and accrued liabilities	40.2	30.4
Current maturities of long-term debt	4.8	4
Total current liabilities	763.4	700.7
Other Liabilities:
Long-term debt, less current portion	1,543.6	1,221.4
Operating lease liabilities	115.5	172.6
Claims and other liabilities	346.5	314.4
Commitments and contingencies
Shareholders’ Deficit:
Cumulative preferred stock, $1 par value per share
Common stock, $0.01 par value per share - authorized 95,000,000 shares, issued 50,876,000 and 50,192,000 shares, respectively	0.5	0.5
Capital surplus	2,387	2,383.6
Accumulated deficit	(2,430.3)	(2,365.9)
Accumulated other comprehensive loss	(170.7)	(148.8)
Treasury stock, at cost	(92.7)	(92.7)
Total shareholders’ deficit	(306.2)	(223.3)
Total Liabilities and Shareholders’ Deficit	$ 2,462.8	$ 2,185.8

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2021	Dec. 31, 2020
Statement Of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 1	$ 1
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	95,000,000	95,000,000
Common stock, shares issued	50,876,000	50,192,000

Statements of Consolidated Comp

Statements of Consolidated Comprehensive Income (Loss) (Unaudited) - USD ($) shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement Of Income And Comprehensive Income [Abstract]
Operating Revenue	$ 1,301.4	$ 1,183.4	$ 3,812.9	$ 3,349.2
Operating Expenses:
Salaries, wages and employee benefits	729.7	720.6	2,204.8	2,088.7
Fuel, operating expenses and supplies	216.1	175.4	636.6	546.1
Purchased transportation	200.3	177.1	610.6	439.3
Depreciation and amortization	37.8	32.5	106.1	102.4
Other operating expenses	68.9	58.4	205.5	175.2
(Gains) losses on property disposals, net	0.2		1.5	(45.3)
Total operating expenses	1,253	1,164	3,765.1	3,306.4
Operating Income	48.4	19.4	47.8	42.8
Nonoperating Expenses:
Interest expense	38.6	33.4	112.2	101.9
Non-union pension and postretirement expense (benefits)	1.7	(1.1)	(0.7)	(4.3)
Other, net	(0.2)		(0.5)	(1.2)
Nonoperating expenses, net	40.1	32.3	111	96.4
Income (loss) before income taxes	8.3	(12.9)	(63.2)	(53.6)
Income tax expense (benefit)	0	(10.9)	1.2	(18.8)
Net income (loss)	8.3	(2)	(64.4)	(34.8)
Other comprehensive income (loss), net of tax	(28.8)	98	(21.9)	102.5
Comprehensive Income (Loss)	$ (20.5)	$ 96	$ (86.3)	$ 67.7
Average Common Shares Outstanding - Basic	50,868	48,672	50,661	38,864
Average Common Shares Outstanding - Diluted	51,818	48,672	50,661	38,864
Earnings (Loss) Per Share - Basic	$ 0.16	$ (0.04)	$ (1.27)	$ (0.90)
Earnings (Loss) Per Share - Diluted	$ 0.16	$ (0.04)	$ (1.27)	$ (0.90)

Statements of Consolidated Cash

Statements of Consolidated Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Operating Activities:
Net loss	$ (64.4)	$ (34.8)
Adjustments to reconcile net loss to cash flows from operating activities:
Depreciation and amortization	106.1	102.4
Lease amortization and accretion expense	103.4	122.7
Lease payments	(105.6)	(94.6)
Paid-in-kind interest	7	40.5
Debt-related amortization	17.2	11.8
Equity-based compensation and employee benefits expense	12.3	14.4
Non-union pension settlement charge	3.4	1.9
(Gains) losses on property disposals, net	1.5	(45.3)
Deferred income taxes, net	(1)	(11.1)
Other non-cash items, net	0.6	(0.2)
Changes in assets and liabilities, net:
Accounts receivable	(135.7)	(76.9)
Accounts payable	28.4	24.8
Other operating assets	(19.8)	(9.3)
Other operating liabilities	55.9	62.2
Net cash provided by (used in) operating activities	9.3	108.5
Investing Activities:
Acquisition of property and equipment	(442.9)	(41.4)
Proceeds from disposal of property and equipment	1.1	55.3
Net cash provided by (used in) investing activities	(441.8)	13.9
Financing Activities:
Issuance of long-term debt, net	325.2	245
Repayment of long-term debt	(1.8)	(29.1)
Debt issuance costs	(0.2)	(8.4)
Payments for tax withheld on equity-based compensation	(0.5)	(0.6)
Net cash provided by (used in) financing activities	322.7	206.9
Net Increase (Decrease) In Cash and Cash Equivalents and Restricted Amounts Held in Escrow	(109.8)	329.3
Cash and Cash Equivalents and Restricted Amounts Held in Escrow, Beginning of Period	478	109.2
Cash and Cash Equivalents and Restricted Amounts Held in Escrow, End of Period	368.2	438.5
Supplemental Cash Flow Information:
Interest paid	$ (86.2)	$ (47.2)

Statements of Consolidated Shar

Statements of Consolidated Shareholders' Deficit (Unaudited) - 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, 2019	$ (441.2)	$ 0	$ 0.3	$ 2,332.9	$ (2,312.4)	$ (369.3)	$ (92.7)
Equity-based compensation	1.8	0		1.8
Net income (loss)	4.3	0			4.3
Amortization of prior net losses	3.3	0				3.3
Amortization of prior service credit	(0.1)	0				(0.1)
Foreign currency translation	(1.9)	0				(1.9)
Ending balance at Mar. 31, 2020	(433.8)	0	0.3	2,334.7	(2,308.1)	(368)	(92.7)
Beginning balance at Dec. 31, 2019	(441.2)	0	0.3	2,332.9	(2,312.4)	(369.3)	(92.7)
Net income (loss)	(34.8)
Ending balance at Sep. 30, 2020	(323.1)	0	0.5	2,383.1	(2,347.2)	(266.8)	(92.7)
Beginning balance at Mar. 31, 2020	(433.8)	0	0.3	2,334.7	(2,308.1)	(368)	(92.7)
Equity-based compensation	0.8	0		0.8
Net income (loss)	(37.1)	0			(37.1)
Amortization of prior net losses	2.4	0				2.4
Amortization of prior service credit	(0.1)	0				(0.1)
Foreign currency translation	0.9	0				0.9
Ending balance at Jun. 30, 2020	(466.9)	0	0.3	2,335.5	(2,345.2)	(364.8)	(92.7)
Equity-based compensation	1.1	0		1.1
Equity issuance - UST commitment fee	46.7	0	0.2	46.5
Net income (loss)	(2)	0			(2)
Amortization of prior net losses	4	0				4
Amortization of prior service credit	(0.1)	0				(0.1)
Settlement adjustment	1.4	0				1.4
Net actuarial gain (loss)	92.1	0				92.1
Foreign currency translation	0.6	0				0.6
Ending balance at Sep. 30, 2020	(323.1)	0	0.5	2,383.1	(2,347.2)	(266.8)	(92.7)
Beginning balance at Dec. 31, 2020	(223.3)	0	0.5	2,383.6	(2,365.9)	(148.8)	(92.7)
Equity-based compensation	1.8	0		1.8
Net income (loss)	(63.3)	0			(63.3)
Amortization of prior net losses	3	0				3
Amortization of prior service credit	(0.1)	0				(0.1)
Foreign currency translation	0.7	0				0.7
Ending balance at Mar. 31, 2021	(281.2)	0	0.5	2,385.4	(2,429.2)	(145.2)	(92.7)
Beginning balance at Dec. 31, 2020	(223.3)	0	0.5	2,383.6	(2,365.9)	(148.8)	(92.7)
Net income (loss)	(64.4)
Ending balance at Sep. 30, 2021	(306.2)	0	0.5	2,387	(2,430.3)	(170.7)	(92.7)
Beginning balance at Mar. 31, 2021	(281.2)	0	0.5	2,385.4	(2,429.2)	(145.2)	(92.7)
Equity-based compensation	0.9	0		0.9
Net income (loss)	(9.4)	0			(9.4)
Amortization of prior net losses	3	0				3
Amortization of prior service credit	(0.1)	0				(0.1)
Settlement adjustment	0.3	0				0.3
Foreign currency translation	0.1	0				0.1
Ending balance at Jun. 30, 2021	(286.4)	0	0.5	2,386.3	(2,438.6)	(141.9)	(92.7)
Equity-based compensation	0.7	0		0.7
Net income (loss)	8.3	0			8.3
Amortization of prior net losses	3.1	0				3.1
Amortization of prior service credit	(0.1)	0				(0.1)
Settlement adjustment	3.1	0				3.1
Net actuarial gain (loss)	(34.5)	0				(34.5)
Foreign currency translation	(0.4)	0				(0.4)
Ending balance at Sep. 30, 2021	$ (306.2)	$ 0	$ 0.5	$ 2,387	$ (2,430.3)	$ (170.7)	$ (92.7)

Description of Business

Description of Business	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Description of Business	1. Description of Business Yellow Corporation (also referred to as “Yellow,” the “Company,” “we,” “us” or “our”) is a holding company that, through its 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. Yellow Corporation’s LTL subsidiaries include USF Holland LLC (“Holland”), New Penn Motor Express LLC (“New Penn”), USF Reddaway Inc. (“Reddaway”), YRC Inc. and YRC Freight Canada Company (both doing business as, and herein referred to as, “YRC Freight”). Our LTL companies provide services through a consolidated network of facilities located across the United States, Canada, and Puerto Rico. We also offer services through HNRY Logistics, Inc. (“HNRY Logistics”), our customer-specific logistics solutions provider, specializing in truckload, residential, and warehouse solutions. As of September 30, 2021 , approximately 80 % of our labor force is subject to collective bargaining agreements, which predominantly expire on March 31, 2024.

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation	2. Basis of Presentation The accompanying unaudited consolidated financial statements include the accounts of Yellow Corporation and its wholly owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. We report on a calendar year basis. The quarters of Holland consist of thirteen weeks that end on a Saturday either before or after the end of March, June and September. All other companies’ quarters end on the natural calendar quarter end. Prior to the quarter ended September 30, 2021, the interim quarters of Reddaway consisted of thirteen weeks similar to Holland. Reddaway now reports their quarters similar to all of our other companies. All normal recurring adjustments necessary for a fair presentation of the consolidated financial statements for the interim periods included herein have been made. These unaudited interim consolidated financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information, the instructions to Quarterly Report on Form 10-Q and the applicable rules and regulations. Certain information and note disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles have been condensed or omitted from these statements. The accompanying consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 (“the 2020 Form 10-K”). Operating results for the three and nine months ended September 30, 2021 are not necessarily indicative of the results of operations that may be expected for the year ended December 31, 2021 or other reporting periods. Reclassifications Certain immaterial reclassifications have been made to prior year’s balances to conform with current year presentation. Disaggregation of Revenue The Company’s revenue is summarized below with LTL shipments defined as shipments less than 10,000 pounds that move in our network: Three Months Nine Months (in millions) 2021 2020 2021 2020 LTL revenue $ 1,170.5 $ 1,073.0 $ 3,436.8 $ 3,044.2 Other revenue 130.9 110.4 376.1 305.0 Total revenue $ 1,301.4 $ 1,183.4 $ 3,812.9 $ 3,349.2 Newly-Adopted Accounting Standards In December 2019, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes . The amendments of ASU 2019-12 are meant to simplify and reduce the cost of accounting for income taxes. The new standard became effective for the Company on January 1, 2021 . ASU 2019-12 , upon becoming effective, also removed certain exceptions to the general principles in Topic 740 including the general intraperiod tax allocation exception, and clarified and amended existing guidance to improve consistent application. Application of the exception to the intraperiod tax allocation rules was a factor in 2020 and certain previous years. While there are other recently issued accounting standards that are applicable to the Company, none of these standards are expected to have a material impact on our consolidated financial statements and accompanying notes.

Debt and Financing

Debt and Financing	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Debt and Financing	3. Debt and Financing Our outstanding debt as of September 30, 2021, consisted of the following: (in millions) Par Value Discount Commitment Debt Book Value Effective Term Loan (a) $ 612.5 $ ( 16.5 ) $ — $ ( 7.3 ) $ 588.7 (b) 9.5 % ABL Facility — — — — — N/A UST Loan Tranche A (a) 309.0 — ( 14.1 ) ( 3.7 ) 291.2 (c) 6.4 % UST Loan Tranche B 400.0 — ( 18.9 ) ( 4.9 ) 376.2 (c) 6.5 % Secured Second A&R CDA 24.1 — — — 24.1 7.7 % Unsecured Second A&R CDA 43.9 — — ( 0.1 ) 43.8 7.7 % Lease financing obligations 224.6 — — ( 0.2 ) 224.4 (d) 17.4 % Total debt $ 1,614.1 $ ( 16.5 ) $ ( 33.0 ) $ ( 16.2 ) $ 1,548.4 Current maturities of Unsecured Second A&R CDA ( 1.4 ) — — — ( 1.4 ) Current maturities of lease financing obligations ( 3.4 ) — — — ( 3.4 ) Long-term debt $ 1,609.3 $ ( 16.5 ) $ ( 33.0 ) $ ( 16.2 ) $ 1,543.6 (a) The Par Value and the Book Value both reflect the accumulated cash funds that have been drawn, plus the accumulated paid-in-kind interest. (b) Variable interest rate based on the Eurodollar rate, which is currently determined by the 1, 3 or 6-month USD LIBOR, with a floor of 1.0 %, plus a fixed margin of 7.5 %. (c) Variable interest rate based on the Eurodollar rate, which is currently determined by the 1, 2, 3 or 6-month USD LIBOR, with a floor of 1.0 %, plus a fixed margin of 3.5 %. (d) Interest rate for lease financing obligations is derived from the difference between total rent payment and calculated principal amortization over the life of lease agreements. Principal Maturities of Long-Term Debt The principal maturities of long-term debt for the next five years are as follows: (in millions) Principal Maturity Amount 2021 - remaining portion $ 2.0 2022 70.2 2023 4.5 2024 1,323.5 2025 - Thereafter 213.9 Total $ 1,614.1 Fair Value Measurement The book value and estimated fair values of our long-term debt, including current maturities, are summarized as follows: September 30, 2021 December 31, 2020 (in millions) Book Value Fair Value Book Value Fair Value Term Loan $ 588.7 $ 612.5 $ 582.7 $ 611.0 UST Loans 667.4 627.3 349.2 322.0 Second A&R CDA 67.9 68.0 67.8 67.8 Lease financing obligations 224.4 224.1 225.7 225.8 Total debt $ 1,548.4 $ 1,531.9 $ 1,225.4 $ 1,226.6 The fair values of the Term Loan and Second A&R CDA were estimated based on observable prices (level two inputs for fair value measurements). The fair value of the UST Loans is estimated using certain inputs that are unobservable (level three input for fair value measurement), which are based on the discounted amount of future cash flows using our current estimated incremental rate of borrowing for similar liabilities or assets. The fair value of the lease financing obligations are estimated using a publicly traded secured loan with similar characteristics (level three input for fair value measurement).

Leases

Leases	9 Months Ended
	Sep. 30, 2021
Leases [Abstract]
Leases	4. Leases Leases (in millions) September 30, 2021 December 31, 2020 Assets Operating lease right-of-use assets $ 193.5 $ 276.0 Liabilities Current operating lease liabilities $ 87.3 $ 114.2 Noncurrent operating lease liabilities 115.5 172.6 Total lease liabilities $ 202.8 $ 286.8 Three Months Nine Months Lease Cost (in millions) 2021 2020 2021 2020 Operating lease cost (a) $ 32.3 $ 39.2 $ 103.4 $ 122.7 Short-term cost (b) 6.3 5.4 25.5 9.5 Variable lease cost (b) 2.5 2.9 7.6 7.1 Total lease cost $ 41.1 $ 47.5 $ 136.5 $ 139.3 (a) Operating lease cost represents non-cash amortization of ROU assets and accretion of the discounted lease liabilities and is segregated on the statements of consolidated cash flows. (b) These operating expenses are classified and recorded primarily within purchased transportation. Remaining Maturities of Lease Liabilities (in millions) Operating Leases 2021 - remaining portion $ 30.8 2022 95.0 2023 54.6 2024 24.4 2025 12.3 After 2025 27.9 Total lease payments $ 245.0 Less: imputed interest 42.2 Present value of lease liabilities $ 202.8 Lease Term and Discount Rate Weighted-Average Remaining Lease Term Weighted-Average Discount Rate Operating leases 3.2 11.8 % Three Months Nine Months Other Information (in millions) 2021 2020 2021 2020 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 30.6 $ 38.8 $ 105.1 $ 94.3 Leased assets obtained in exchange for new operating lease liabilities $ 3.6 $ 3.3 $ 4.5 $ 13.3

Employee Benefits

Employee Benefits	9 Months Ended
	Sep. 30, 2021
Compensation And Retirement Disclosure [Abstract]
Employee Benefits	5. Employee Benefits Qualified and Nonqualified Defined Benefit Pension Plans The following table presents the components of our Company-sponsored pension plans: Three Months Nine Months (in millions) 2021 2020 2021 2020 Interest cost $ 7.7 $ 9.1 $ 23.0 $ 28.3 Expected return on plan assets ( 12.0 ) ( 15.5 ) ( 36.0 ) ( 45.3 ) Amortization of prior service credit ( 0.1 ) ( 0.1 ) ( 0.3 ) ( 0.3 ) Amortization of prior net pension loss 3.0 3.5 9.1 11.0 Settlement adjustment 3.1 1.9 3.4 1.9 Total net periodic pension expense (benefit) $ 1.7 $ ( 1.1 ) $ ( 0.8 ) $ ( 4.4 ) For the three and nine months ended September 30, 2021, net periodic pension expense included non-union pension settlement charges of $ 3.1 million and $ 3.4 million, respectively. The $ 3.1 million pension settlement charge for the Yellow Corporation Pension Plan (the "Yellow Plan") was triggered due to the amount of lump sum benefit payments distributed from plan assets in 2021. The lump sum benefit payments reduce pension obligations and are funded from existing pension plan assets and therefore do not impact the Company’s cash balance. As a result of this settlement, the Company was required to measure the Yellow Plan as of July 31, 2021. Plan assets specific to the Yellow Plan decreased by $ 46.0 million as a result of smaller than expected return on plan assets held in a master trust over our three pension plans. Plan liabilities decreased by $ 15.1 million largely due to increasing discount rates. The net impact of the remeasurement yielded a decline in the funded status of the Yellow Plan from a net asset of $ 5.6 million as of December 31, 2020 to a net liability of $ 23.8 million as of September 30, 2021. The other two plans held in the same master trust, the Roadway LLC Pension Plan and the YRC Retirement Pension Plan, have not been remeasured as they did not trigger a similar settlement charge and will be remeasured on December 31, 2021.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Earnings (Loss) Per Share	6. Earnings (Loss) Per Share We calculate basic earnings (loss) per share by dividing our net income (loss) available to common shareholders by our basic weighted-average shares outstanding. The calculation for diluted earnings (loss) per share adjusts the weighted average shares outstanding for our dilutive unvested shares and stock units using the treasury stock method. Our calculations for basic and dilutive earnings (loss) per share for three and nine months ended September 30, 2021 and 2020 are as follows: Three Months Nine Months (dollars in millions, except per share data; shares and stock units in thousands) 2021 2020 2021 2020 Basic and dilutive net income (loss) available to common shareholders $ 8.3 $ ( 2.0 ) $ ( 64.4 ) $ ( 34.8 ) Basic weighted average shares outstanding 50,868 48,672 50,661 38,864 Effect of dilutive securities: Unvested shares and stock units (a) 950 — — — Dilutive weighted average shares outstanding $ 51,818 $ 48,672 $ 50,661 $ 38,864 Basic earnings (loss) per share (b) $ 0.16 $ ( 0.04 ) $ ( 1.27 ) $ ( 0.90 ) Diluted earnings (loss) per share (b) $ 0.16 $ ( 0.04 ) $ ( 1.27 ) $ ( 0.90 ) (a) Includes unvested shares of Common Stock, unvested stock units and vested stock units for which the underlying Common Stock has not been distributed. (b) Earnings (loss) per share is based on unrounded figures and not the rounded figures presented. Given our net losses incurred during the nine months ended September 30, 2021 and 2020 and the three months ended September 30, 2020, we do no t report dilutive securities for these periods. At September 30, 2021 and 2020 , our anti-dilutive unvested shares, options, and stock units were approximately 180,000 and 125,000 , respectively.

Commitments, Contingencies and

Commitments, Contingencies and Uncertainties	9 Months Ended
	Sep. 30, 2021
Commitments And Contingencies Disclosure [Abstract]
Commitments, Contingencies and Uncertainties	7. Commitments, Contingencies and Uncertainties Department of Defense Complaints In December 2018, the United States on behalf of the United States Department of Defense filed a complaint in Intervention against the Company (and two other defendants) in the U.S. District Court for the Western District of New York captioned United States ex rel. James Hannum v. YRC Freight, Inc.; Roadway Express, Inc.; and Yellow Transportation, Inc., Civil Action No. 08-0811(A). The complaint alleges that the Company violated the False Claims Act by overcharging the Department of Defense for freight carrier services by failing to comply with the contractual terms of freight contracts between the Department of Defense and the Company and related government procurement rules. The complaint also alleges claims for unjust enrichment and breach of contract. Under the False Claims Act, the complaint seeks treble damages, civil penalties, attorneys’ fees and costs of suit, all in unspecified amounts. The remaining common causes of action seek an undetermined amount for an alleged breach of contract or alternatively causes constituting unjust enrichment or a payment by mistake. The Company has moved to dismiss the case, and the court heard oral arguments on the motion on August 12, 2019. On July 17, 2020, the Magistrate Judge to whom the case had been referred issued a Report and Recommendation recommending that the District Judge grant the Company’s motion to dismiss in part with respect to one claim and deny it in all other respects. On May 10, 2021, the District Court entered a Decision and Order adopting Magistrate Judge’s Report and Recommendation and Decision and Order. The District Court granted two stays of the case for sixty days to allow parties time to discuss a potential resolution in this action, however the stay has been lifted and the defendants filed their answer and affirmative defenses immediately thereafter. The parties continue to discuss resolution of the matter while it moves forward. Management believes the Company has meritorious defenses against the remaining counts and intends to vigorously defend this action. We are unable to estimate the possible loss, or range of possible loss, associated with these claims at this time. Class Action Securities Complaint In January 2019, a purported class action lawsuit captioned Christina Lewis v. YRC Worldwide Inc., et al., Case No. 1:19-cv-00001, was filed in the U.S. District Court for the Northern District of New York against the Company and certain of our current and former officers. The complaint was filed on behalf of persons who purchased or otherwise acquired the Company’s publicly traded securities between March 10, 2014 and December 14, 2018. The complaint generally alleged that the defendants had violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 by making false and misleading statements relating to the Company’s freight billing practices as alleged in the Department of Defense complaint described above. The action included claims for damages, including interest, and an award of reasonable costs and attorneys’ fees. The co-lead plaintiffs filed an amended complaint on June 14, 2019, and the defendants moved to dismiss it on July 15, 2019. On March 27, 2020, the court granted defendants’ motion to dismiss in its entirety and entered judgment closing the case. The co-lead plaintiffs filed a notice of appeal to the U.S. Court of Appeals for the Second Circuit on April 27, 2020. After the appeal was fully briefed, the parties engaged in mediation and reached an agreement in principle to settle the matter for $ 2.1 million, subject to certain conditions, including execution of a definitive settlement agreement and court approval. On February 10, 2021, the Second Circuit granted the parties’ joint motion to stay the appeal and remand the case to the District Court. On April 12, 2021, the parties executed the definitive settlement documents and then presented them to the District Court. The court approved the proposed settlement and entered a final judgment on September 9, 2021. Shareholder Derivative Complaint In February 2021, two putative shareholders filed an action derivatively and on behalf of the Company naming Douglas A. Carty, Raymond J. Bromark, William R. Davidson, Matthew A. Doheny, Robert L Friedman, James E. Hoffman, Michael J. Kneeland, Patricia M. Nazemetz, James F. Winestock, Jamie G. Pierson, Darren D. Hawkins, James L. Welch and Stephanie D. Fisher individually as defendants and the Company as the nominal defendant. The case, captioned Bhandari, et al. v. Carty, et al. , Case No. 2021-0090-SG, was filed in the Court of Chancery in the State of Delaware. The complaint alleges that the Company was exposed to harm by the individual defendants’ purported conduct concerning its freight-billing practices as alleged in the Department of Defense complaint and the class action securities complaint described above. The complaint asserts that the individual defendants breached their fiduciary duties and were unjustly enriched as a result of their purported conduct. Claims similar to those raised in Bhandari had been raised in two shareholder derivative cases that were previously disclosed by the Company and have been dismissed. The defendants moved to dismiss the action on April 19, 2021. On July 16, 2021, the putative shareholders moved for entry of an order dismissing the Bhandari action without prejudice. On July 19, 2021, the Court entered an order dismissing the action without prejudice. 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 consolidated financial statements, we believe that our consolidated 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.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2021
Related Party Transactions [Abstract]
Related Party Transactions	8. Related Party Transactions Under the applicable accounting standards the Company is deemed a related party with the United States federal government as a result of the UST Credit Agreements and the associated issuance of approximately 16 million shares of common stock to the UST in July 2020. In the ordinary course of business, the Company has continued to regularly transact with various authorities associated with the United States federal government (the “U.S. government”) and to also operate in an industry subject to various U.S. government regulations. These transactions and regulatory oversight relationships include the Company providing a full range of transportation services to various U.S. government entities and the Company being subject to certain applicable U.S. government regulations such as those of the U.S. Departments of Transportation and Homeland Security, as examples.

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation	The accompanying unaudited consolidated financial statements include the accounts of Yellow Corporation and its wholly owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. We report on a calendar year basis. The quarters of Holland consist of thirteen weeks that end on a Saturday either before or after the end of March, June and September. All other companies’ quarters end on the natural calendar quarter end. Prior to the quarter ended September 30, 2021, the interim quarters of Reddaway consisted of thirteen weeks similar to Holland. Reddaway now reports their quarters similar to all of our other companies. All normal recurring adjustments necessary for a fair presentation of the consolidated financial statements for the interim periods included herein have been made. These unaudited interim consolidated financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information, the instructions to Quarterly Report on Form 10-Q and the applicable rules and regulations. Certain information and note disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles have been condensed or omitted from these statements. The accompanying consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 (“the 2020 Form 10-K”). Operating results for the three and nine months ended September 30, 2021 are not necessarily indicative of the results of operations that may be expected for the year ended December 31, 2021 or other reporting periods.
Reclassifications	Reclassifications Certain immaterial reclassifications have been made to prior year’s balances to conform with current year presentation.
Revenue Disaggregation	Disaggregation of Revenue The Company’s revenue is summarized below with LTL shipments defined as shipments less than 10,000 pounds that move in our network: Three Months Nine Months (in millions) 2021 2020 2021 2020 LTL revenue $ 1,170.5 $ 1,073.0 $ 3,436.8 $ 3,044.2 Other revenue 130.9 110.4 376.1 305.0 Total revenue $ 1,301.4 $ 1,183.4 $ 3,812.9 $ 3,349.2
Newly Adopted Accounting Standards	Newly-Adopted Accounting Standards In December 2019, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes . The amendments of ASU 2019-12 are meant to simplify and reduce the cost of accounting for income taxes. The new standard became effective for the Company on January 1, 2021 . ASU 2019-12 , upon becoming effective, also removed certain exceptions to the general principles in Topic 740 including the general intraperiod tax allocation exception, and clarified and amended existing guidance to improve consistent application. Application of the exception to the intraperiod tax allocation rules was a factor in 2020 and certain previous years. While there are other recently issued accounting standards that are applicable to the Company, none of these standards are expected to have a material impact on our consolidated financial statements and accompanying notes.

Basis of Presentation (Tables)

Basis of Presentation (Tables)	9 Months Ended
	Sep. 30, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Disaggregation of Revenue	The Company’s revenue is summarized below with LTL shipments defined as shipments less than 10,000 pounds that move in our network: Three Months Nine Months (in millions) 2021 2020 2021 2020 LTL revenue $ 1,170.5 $ 1,073.0 $ 3,436.8 $ 3,044.2 Other revenue 130.9 110.4 376.1 305.0 Total revenue $ 1,301.4 $ 1,183.4 $ 3,812.9 $ 3,349.2

Debt and Financing (Tables)

Debt and Financing (Tables)	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Schedule of Outstanding Debt	Our outstanding debt as of September 30, 2021, consisted of the following: (in millions) Par Value Discount Commitment Debt Book Value Effective Term Loan (a) $ 612.5 $ ( 16.5 ) $ — $ ( 7.3 ) $ 588.7 (b) 9.5 % ABL Facility — — — — — N/A UST Loan Tranche A (a) 309.0 — ( 14.1 ) ( 3.7 ) 291.2 (c) 6.4 % UST Loan Tranche B 400.0 — ( 18.9 ) ( 4.9 ) 376.2 (c) 6.5 % Secured Second A&R CDA 24.1 — — — 24.1 7.7 % Unsecured Second A&R CDA 43.9 — — ( 0.1 ) 43.8 7.7 % Lease financing obligations 224.6 — — ( 0.2 ) 224.4 (d) 17.4 % Total debt $ 1,614.1 $ ( 16.5 ) $ ( 33.0 ) $ ( 16.2 ) $ 1,548.4 Current maturities of Unsecured Second A&R CDA ( 1.4 ) — — — ( 1.4 ) Current maturities of lease financing obligations ( 3.4 ) — — — ( 3.4 ) Long-term debt $ 1,609.3 $ ( 16.5 ) $ ( 33.0 ) $ ( 16.2 ) $ 1,543.6 (a) The Par Value and the Book Value both reflect the accumulated cash funds that have been drawn, plus the accumulated paid-in-kind interest. (b) Variable interest rate based on the Eurodollar rate, which is currently determined by the 1, 3 or 6-month USD LIBOR, with a floor of 1.0 %, plus a fixed margin of 7.5 %. (c) Variable interest rate based on the Eurodollar rate, which is currently determined by the 1, 2, 3 or 6-month USD LIBOR, with a floor of 1.0 %, plus a fixed margin of 3.5 %. (d) Interest rate for lease financing obligations is derived from the difference between total rent payment and calculated principal amortization over the life of lease agreements.
Schedule of Maturities of Long-term Debt	The principal maturities of long-term debt for the next five years are as follows: (in millions) Principal Maturity Amount 2021 - remaining portion $ 2.0 2022 70.2 2023 4.5 2024 1,323.5 2025 - Thereafter 213.9 Total $ 1,614.1
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments	The book value and estimated fair values of our long-term debt, including current maturities, are summarized as follows: September 30, 2021 December 31, 2020 (in millions) Book Value Fair Value Book Value Fair Value Term Loan $ 588.7 $ 612.5 $ 582.7 $ 611.0 UST Loans 667.4 627.3 349.2 322.0 Second A&R CDA 67.9 68.0 67.8 67.8 Lease financing obligations 224.4 224.1 225.7 225.8 Total debt $ 1,548.4 $ 1,531.9 $ 1,225.4 $ 1,226.6

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2021
Leases [Abstract]
Summary of Assets and Liabilities	Leases (in millions) September 30, 2021 December 31, 2020 Assets Operating lease right-of-use assets $ 193.5 $ 276.0 Liabilities Current operating lease liabilities $ 87.3 $ 114.2 Noncurrent operating lease liabilities 115.5 172.6 Total lease liabilities $ 202.8 $ 286.8
Summary of Lease Cost	Three Months Nine Months Lease Cost (in millions) 2021 2020 2021 2020 Operating lease cost (a) $ 32.3 $ 39.2 $ 103.4 $ 122.7 Short-term cost (b) 6.3 5.4 25.5 9.5 Variable lease cost (b) 2.5 2.9 7.6 7.1 Total lease cost $ 41.1 $ 47.5 $ 136.5 $ 139.3 (a) Operating lease cost represents non-cash amortization of ROU assets and accretion of the discounted lease liabilities and is segregated on the statements of consolidated cash flows. (b) These operating expenses are classified and recorded primarily within purchased transportation. Three Months Nine Months Other Information (in millions) 2021 2020 2021 2020 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 30.6 $ 38.8 $ 105.1 $ 94.3 Leased assets obtained in exchange for new operating lease liabilities $ 3.6 $ 3.3 $ 4.5 $ 13.3
Summary of Remaining Maturities of Lease Liabilities	Remaining Maturities of Lease Liabilities (in millions) Operating Leases 2021 - remaining portion $ 30.8 2022 95.0 2023 54.6 2024 24.4 2025 12.3 After 2025 27.9 Total lease payments $ 245.0 Less: imputed interest 42.2 Present value of lease liabilities $ 202.8
Summary of Lease Term and Discount Rate	Lease Term and Discount Rate Weighted-Average Remaining Lease Term Weighted-Average Discount Rate Operating leases 3.2 11.8 %

Employee Benefits (Tables)

Employee Benefits (Tables)	9 Months Ended
	Sep. 30, 2021
Compensation And Retirement Disclosure [Abstract]
Schedule of Costs of Retirement Plans	The following table presents the components of our Company-sponsored pension plans: Three Months Nine Months (in millions) 2021 2020 2021 2020 Interest cost $ 7.7 $ 9.1 $ 23.0 $ 28.3 Expected return on plan assets ( 12.0 ) ( 15.5 ) ( 36.0 ) ( 45.3 ) Amortization of prior service credit ( 0.1 ) ( 0.1 ) ( 0.3 ) ( 0.3 ) Amortization of prior net pension loss 3.0 3.5 9.1 11.0 Settlement adjustment 3.1 1.9 3.4 1.9 Total net periodic pension expense (benefit) $ 1.7 $ ( 1.1 ) $ ( 0.8 ) $ ( 4.4 )

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Schedule of Basic and Dilutive Earnings (Loss) Per Share	Our calculations for basic and dilutive earnings (loss) per share for three and nine months ended September 30, 2021 and 2020 are as follows: Three Months Nine Months (dollars in millions, except per share data; shares and stock units in thousands) 2021 2020 2021 2020 Basic and dilutive net income (loss) available to common shareholders $ 8.3 $ ( 2.0 ) $ ( 64.4 ) $ ( 34.8 ) Basic weighted average shares outstanding 50,868 48,672 50,661 38,864 Effect of dilutive securities: Unvested shares and stock units (a) 950 — — — Dilutive weighted average shares outstanding $ 51,818 $ 48,672 $ 50,661 $ 38,864 Basic earnings (loss) per share (b) $ 0.16 $ ( 0.04 ) $ ( 1.27 ) $ ( 0.90 ) Diluted earnings (loss) per share (b) $ 0.16 $ ( 0.04 ) $ ( 1.27 ) $ ( 0.90 ) (a) Includes unvested shares of Common Stock, unvested stock units and vested stock units for which the underlying Common Stock has not been distributed. (b) Earnings (loss) per share is based on unrounded figures and not the rounded figures presented.

Description of Business - Addit

Description of Business - Additional Information (Details)	9 Months Ended
	Sep. 30, 2021
Workforce Subject to Collective Bargaining Arrangements | Labor Force Concentration Risk | North America
Concentration Risk [Line Items]
Percentage of workforce subject to collective bargaining agreements	80.00%

Basis of Presentation - Disaggr

Basis of Presentation - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenue from External Customer [Line Items]
Operating Revenue	$ 1,301.4	$ 1,183.4	$ 3,812.9	$ 3,349.2
LTL revenue
Revenue from External Customer [Line Items]
Operating Revenue	1,170.5	1,073	3,436.8	3,044.2
Other revenue
Revenue from External Customer [Line Items]
Operating Revenue	$ 130.9	$ 110.4	$ 376.1	$ 305

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Details) - Accounting Standards Update 2019-12	Sep. 30, 2021
Accounting Policy [Line Items]
Change in accounting principle, ASU adopted	true
Change in accounting principle, ASU adoption date	Jan. 1, 2021
Change in accounting principle, ASU, immaterial effect	true

Debt and Financing - Schedule o

Debt and Financing - Schedule of Outstanding Debt (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Par Value	$ 1,614.1
Discount	(16.5)
Commitment Fee	(33)
Debt Issuance Costs	(16.2)
Book Value	1,548.4
Book Value, Current Maturities	(4.8)	$ (4)
Par Value, Excluding Current Maturities	1,609.3
Premium (Discount), Excluding Current Maturities	(16.5)
Commitment Fee, Excluding Current Maturities	(33)
Debt Issuance Costs, Noncurrent	(16.2)
Book Value, Excluding Current Maturities	1,543.6	$ 1,221.4
Term Loan
Debt Instrument [Line Items]
Par Value	612.5
Discount	(16.5)
Commitment Fee	0
Debt Issuance Costs	(7.3)
Book Value	$ 588.7
Effective Interest Rate	9.50%
ABL Facility | 2014 ABL Facility Credit Agreement
Debt Instrument [Line Items]
Par Value	$ 0
Discount	0
Commitment Fee	0
Debt Issuance Costs	0
Book Value	0
Tranche A | UST Loan
Debt Instrument [Line Items]
Par Value	309
Discount	0
Commitment Fee	(14.1)
Debt Issuance Costs	(3.7)
Book Value	$ 291.2
Effective Interest Rate	6.40%
Tranche B | UST Loan
Debt Instrument [Line Items]
Par Value	$ 400
Discount	0
Commitment Fee	(18.9)
Debt Issuance Costs	(4.9)
Book Value	$ 376.2
Effective Interest Rate	6.50%
Secured Second A&R CDA
Debt Instrument [Line Items]
Par Value	$ 24.1
Discount	0
Commitment Fee	0
Debt Issuance Costs	0
Book Value	$ 24.1
Effective Interest Rate	7.70%
Unsecured Second A&R CDA
Debt Instrument [Line Items]
Par Value	$ 43.9
Discount	0
Commitment Fee	0
Debt Issuance Costs	(0.1)
Book Value	$ 43.8
Effective Interest Rate	7.70%
Par Value, Current Maturities	$ (1.4)
Discount, Current Maturities	0
Commitment Fee, Current Maturities	0
Deferred Issuance Costs, Current	0
Book Value, Current Maturities	(1.4)
Lease financing obligations
Debt Instrument [Line Items]
Par Value	224.6
Discount	0
Commitment Fee	0
Debt Issuance Costs	(0.2)
Book Value	$ 224.4
Effective Interest Rate	17.40%
Par Value, Current Maturities	$ (3.4)
Discount, Current Maturities	0
Commitment Fee, Current Maturities	0
Deferred Issuance Costs, Current	0
Book Value, Current Maturities	$ (3.4)

Debt and Financing - Schedule_2

Debt and Financing - Schedule of Outstanding Debt (Parenthetical) (Details)	9 Months Ended
	Sep. 30, 2021
Tranche A | UST Loan
Debt Instrument [Line Items]
Floor interest rate	1.00%
Basis spread on variable rate	3.50%
London Interbank Offered Rate (LIBOR) | New Term Loan
Debt Instrument [Line Items]
Floor interest rate	1.00%
Basis spread on variable rate	7.50%

Debt and Financing - Schedule_3

Debt and Financing - Schedule of Maturities of Long-term Debt (Details) $ in Millions	Sep. 30, 2021USD ($)
Debt Disclosure [Abstract]
2021 - remaining portion	$ 2
2022	70.2
2023	4.5
2024	1,323.5
2025	0
Thereafter	213.9
Total	$ 1,614.1

Debt and Financing - Schedule_4

Debt and Financing - Schedule of Carrying Values and Estimated Fair Values of Debt Instruments (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Book Value
Debt Instrument [Line Items]
Long-term debt, fair value	$ 1,548.4	$ 1,225.4
Fair Value
Debt Instrument [Line Items]
Long-term debt, fair value	1,531.9	1,226.6
UST Loan | Book Value
Debt Instrument [Line Items]
Long-term debt, fair value	667.4	349.2
UST Loan | Fair Value
Debt Instrument [Line Items]
Long-term debt, fair value	627.3	322
Term Loan | Book Value
Debt Instrument [Line Items]
Long-term debt, fair value	588.7	582.7
Term Loan | Fair Value
Debt Instrument [Line Items]
Long-term debt, fair value	612.5	611
Lease financing obligations | Book Value
Debt Instrument [Line Items]
Long-term debt, fair value	224.4	225.7
Lease financing obligations | Fair Value
Debt Instrument [Line Items]
Long-term debt, fair value	224.1	225.8
Second A&R CDA | Book Value
Debt Instrument [Line Items]
Long-term debt, fair value	67.9	67.8
Second A&R CDA | Fair Value
Debt Instrument [Line Items]
Long-term debt, fair value	$ 68	$ 67.8

Leases - Summary of Assets and

Leases - Summary of Assets and Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Leases [Abstract]
Operating lease right-of-use assets	$ 193.5	$ 276
Current operating lease liabilities	87.3	114.2
Noncurrent operating lease liabilities	115.5	172.6
Present value of lease liabilities	$ 202.8	$ 286.8

Leases - Summary of Lease Cost

Leases - Summary of Lease Cost (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Leases [Abstract]
Operating lease cost	$ 32.3	$ 39.2	$ 103.4	$ 122.7
Short-term cost	6.3	5.4	25.5	9.5
Variable lease cost	2.5	2.9	7.6	7.1
Total lease cost	$ 41.1	$ 47.5	$ 136.5	$ 139.3

Leases - Schedule of Remaining

Leases - Schedule of Remaining Maturities of Lease Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Remaining Maturities of Lease Liabilities (in millions)
2021 - remaining portion	$ 30.8
2022	95
2023	54.6
2024	24.4
2025	12.3
After 2025	27.9
Total lease payments	245
Less: imputed interest	42.2
Present value of lease liabilities	$ 202.8	$ 286.8

Leases - Summary of Lease Term

Leases - Summary of Lease Term and Discount Rate (Details)	Sep. 30, 2021
Leases [Abstract]
Weighted-Average Remaining Lease Term	3 years 2 months 12 days
Weighted-Average Discount Rate	11.80%

Leases - Summary of Other Infor

Leases - Summary of Other Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Leases [Abstract]
Operating cash flows from operating leases	$ 30.6	$ 38.8	$ 105.1	$ 94.3
Leased assets obtained in exchange for new operating lease liabilities	$ 3.6	$ 3.3	$ 4.5	$ 13.3

Employee Benefits - Schedule of

Employee Benefits - Schedule of Components of Our Company-Sponsored Pension Plan Costs (Details) - Qualified and Nonqualified - Defined Benefit Pension Plans - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Defined Benefit Plan Disclosure [Line Items]
Interest cost	$ 7.7	$ 9.1	$ 23	$ 28.3
Expected return on plan assets	(12)	(15.5)	(36)	(45.3)
Amortization of prior service credit	(0.1)	(0.1)	(0.3)	(0.3)
Amortization of prior net pension loss	3	3.5	9.1	11
Settlement adjustment	3.1	1.9	3.4	1.9
Total net periodic pension expense (benefit)	$ 1.7	$ (1.1)	$ (0.8)	$ (4.4)

Employee Benefits - Additional

Employee Benefits - Additional Information (Details) - Defined Benefit Pension Plans - Nonqualified Plan $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2021USD ($)	Sep. 30, 2021USD ($)Plan	Dec. 31, 2020USD ($)
Yellow Plan
Defined Benefit Plan Disclosure [Line Items]
Settlement adjustment	$ 3.1	$ 3.4
Actual return on plan assets		46
Actuarial (gain) loss		15.1
Funded status	$ 23.8	$ 23.8	$ 5.6
Number of pension plans | Plan		3
Roadway LLC Pension Plan and YRC Retirement Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Number of pension plans | Plan		2

Earnings (Loss) Per Share - Sch

Earnings (Loss) Per Share - Schedule of Basic and Dilutive Earnings (Loss) Per Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Earnings Per Share [Abstract]
Basic and dilutive net income (loss) available to common shareholders	$ 8.3	$ (2)	$ (64.4)	$ (34.8)
Basic weighted average shares outstanding	50,868,000	48,672,000	50,661,000	38,864,000
Effect of dilutive securities:
Unvested shares and stock units	950,000	0	0	0
Dilutive weighted average shares outstanding	51,818,000	48,672,000	50,661,000	38,864,000
Basic earnings (loss) per share	$ 0.16	$ (0.04)	$ (1.27)	$ (0.90)
Diluted earnings (loss) per share	$ 0.16	$ (0.04)	$ (1.27)	$ (0.90)

Earnings (Loss) Per Share - Add

Earnings (Loss) Per Share - Additional Information (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Earnings Per Share [Line Items]
Unvested shares and stock units	950,000	0	0	0
Anti-Dilutive Unvested Shares and Options
Earnings Per Share [Line Items]
Anti-dilutive unvested shares, options and stock units			180,000	125,000

Commitments, Contingencies an_2

Commitments, Contingencies and Uncertainties - Additional Information (Details) - USD ($) $ in Millions	Jun. 06, 2021	Apr. 27, 2020
Loss Contingencies [Line Items]
Number of days granted to discuss potential resolution	60 days
Christina Lewis
Loss Contingencies [Line Items]
Agreed settlement amount subject to court approval		$ 2.1

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - shares	Sep. 30, 2021	Dec. 31, 2020	Jul. 31, 2020
Related Party Transaction [Line Items]
Issuance of common stock	50,876,000	50,192,000
UST Credit Agreement
Related Party Transaction [Line Items]
Issuance of common stock			16,000,000