J.B. Hunt Transport Services (JBHT) 10-Q 27 Oct 17 2017 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information	9 Months Ended
	Sep. 30, 2017shares
Document Information [Line Items]
Entity Registrant Name	HUNT J B TRANSPORT SERVICES INC
Entity Central Index Key	728,535
Trading Symbol	jbht
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	Yes
Entity Common Stock, Shares Outstanding (in shares)	109,751,895
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Statemen

Condensed Consolidated Statements of Earnings (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Operating revenues, excluding fuel surcharge revenues	$ 1,657,380	$ 1,538,701	$ 4,670,200	$ 4,448,709
Fuel surcharge revenues	185,954	151,958	529,208	385,688
Total operating revenues	1,843,334	1,690,659	5,199,408	4,834,397
Operating expenses:
Rents and purchased transportation	947,145	846,238	2,624,707	2,381,547
Salaries, wages and employee benefits	408,340	374,517	1,178,524	1,108,997
Depreciation and amortization	95,959	91,001	281,198	269,717
Fuel and fuel taxes	87,006	74,179	246,725	205,082
Operating supplies and expenses	67,578	62,191	190,085	173,222
Insurance and claims	26,463	21,862	76,930	58,384
General and administrative expenses, net of asset dispositions	29,389	21,025	74,597	61,570
Operating taxes and licenses	10,744	11,665	32,329	34,156
Communication and utilities	5,738	5,004	16,337	15,063
Total operating expenses	1,678,362	1,507,682	4,721,432	4,307,738
Operating income	164,972	182,977	477,976	526,659
Net interest expense	8,310	6,485	22,521	19,347
Earnings before income taxes	156,662	176,492	455,455	507,312
Income taxes	56,277	67,067	154,499	192,778
Net earnings	$ 100,385	$ 109,425	$ 300,956	$ 314,534
Weighted average basic shares outstanding (in shares)	109,703	112,630	110,066	112,790
Basic earnings per share (in dollars per share)	$ 0.92	$ 0.97	$ 2.73	$ 2.79
Weighted average diluted shares outstanding (in shares)	110,628	113,363	111,154	113,709
Diluted earnings per share (in dollars per share)	$ 0.91	$ 0.97	$ 2.71	$ 2.77
Dividends declared per common share (in dollars per share)	$ 0.23	$ 0.22	$ 0.69	$ 0.66

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 7,707	$ 6,377
Trade accounts receivable, net	858,720	745,288
Prepaid expenses and other	140,164	194,016
Total current assets	1,006,591	945,681
Property and equipment, at cost	4,507,917	4,258,915
Less accumulated depreciation	1,632,108	1,440,124
Net property and equipment	2,875,809	2,818,791
Goodwill	55,737
Other intangible assets, net	58,685
Other assets	57,101	64,516
Total assets	4,053,923	3,828,988
Current liabilities:
Trade accounts payable	493,585	384,308
Claims accruals	117,645	109,745
Accrued payroll	47,514	51,929
Other accrued expenses	23,011	27,152
Total current liabilities	681,755	573,134
Long-term debt	1,084,801	986,278
Other long-term liabilities	68,564	64,881
Deferred income taxes	746,833	790,634
Stockholders' equity	1,471,970	1,414,061
Total liabilities and stockholders' equity	$ 4,053,923	$ 3,828,988

Condensed Consolidated Stateme4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash flows from operating activities:
Net earnings	$ 300,956	$ 314,534
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	281,198	269,717
Share-based compensation	30,953	30,173
(Gain)/Loss on sale of revenue equipment and other	5,716	2,357
Provision for deferred income taxes	(43,801)	(9,152)
Changes in operating assets and liabilities:
Trade accounts receivable	(113,432)	(118,404)
Other assets	58,230	50,319
Trade accounts payable	100,020	56,827
Income taxes payable or receivable	8,350	73,512
Claims accruals	7,901	22
Accrued payroll and other accrued expenses	(7,542)	14,058
Net cash provided by operating activities	628,549	683,963
Cash flows from investing activities:
Additions to property and equipment	(328,218)	(498,913)
Net proceeds from sale of equipment	13,380	140,159
Business acquisition	(137,630)
Changes in other assets	(3,641)	(17)
Net cash used in investing activities	(456,109)	(358,771)
Cash flows from financing activities:
Proceeds from revolving lines of credit and other	2,108,891	1,087,164
Payments on revolving lines of credit and other	(2,006,001)	(1,152,465)
Purchase of treasury stock	(179,813)	(174,760)
Stock option exercises and other	1,100	1,342
Stock repurchased for payroll taxes	(19,167)	(18,613)
Tax benefit of stock options exercised		6,532
Dividends paid	(76,120)	(74,477)
Net cash used in financing activities	(171,110)	(325,277)
Net change in cash and cash equivalents	1,330	(85)
Cash and cash equivalents at beginning of period	6,377	5,566
Cash and cash equivalents at end of period	7,707	5,481
Supplemental disclosure of cash flow information:
Interest	24,641	21,614
Income taxes	$ 187,313	$ 118,803

Note 1 - General

Note 1 - General	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. General Basis of Presentation The accompanying unaudited interim Condensed Consolidated Financial S tatements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information. We believe such statements include all adjustments (consisting only of normal recurring adjustments) necessary for the fair presentation of our financial position, results of operations and cash flows at the dates and for the periods indicated. Pursuant to the requirements of the Securities and Exchange Commission (SEC) applicable to quarterly reports on Form 10 not not 10 December 31, 2016. not may December 31, 2017, August November Goodwill a nd Other Intangible Assets Goodwill represents the excess of cost over the fair value of net identifiable tangible and intangible assets acquired in a business combination. Goodwill and intangible assets with indefinite lives are not third 5 8 Recent Accounting Pronouncements In May 2014, No. 2014 09, In August 2015, 2015 14, 2014 09, one December 15, 2017. December 15, 2016. To date, our implementation team has completed the process of contract review and documentation in accordance with the standard. We intend to adopt this new standard in the first 2018, not In February 2016, 2016 02, 2016 02 December 15, 2018, Accounting Prono uncement Adopted in 201 7 In March 2016, 2016 09, – Stock Compensation: Improvements to Employee Share-Based Payment Accounting, which amended and simplified certain aspects of accounting for share-based payment award transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The amendments were effective for interim and annual periods beginning after December 15, 2016. 2016 09 first 2017, third $4.5 third 2017. no

Note 2 - Earnings Per Share

Note 2 - Earnings Per Share	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Earnings Per Share [Text Block]	2. Earnings Per Share We compute basic earnings per share by dividing net earnings available to common stockholders by the actual weighted average number of common shares outstanding for the reporting period. Diluted earnings per share reflects the potential dilution that could occur if holders of unvested restricted and performance share units or vested and unvested stock options exercised or converted their holdings into common stock. The dilutive effect of restricted and performance share units and stock options was 0.9 third 2017, 0.7 third 2016. nine September 30, 2017 2016, 1.1 0.9

Note 3 - Share-based Compensati

Note 3 - Share-based Compensation	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	3 . Share-b ased Compensation The following table summarizes the components of our share-based compensation program expense (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 201 7 201 6 201 7 201 6 Restricted share units: Pretax compensation expense $ 5,977 $ 5,390 $ 22,987 $ 22,298 Tax benefit 2,146 2,048 7,793 8,473 Restricted share unit expense, net of tax $ 3,831 $ 3,342 $ 15,194 $ 13,825 Performance share units: Pretax compensation expense $ 1,867 $ 1,868 $ 7,966 $ 7,875 Tax benefit 670 710 2,700 2,992 Performance share unit expense, net of tax $ 1,197 $ 1,158 $ 5,266 $ 4,883 As of September 30, 2017, $55.0 $11.4 3.7 2.3 nine September 30, 2017, 379,161 155,867 364,538 155,867 third 2017.

Note 4 - Financing Arrangements

Note 4 - Financing Arrangements	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Debt Disclosure [Text Block]	4. Financing Arrangements Outstanding borrowings, net of unamortized discount and debt issuance cost, under our current financing arrangements consist of the following (in millions): September 30, 201 7 December 31 , 2016 Senior r evolving line of credit $ 241.0 $ 139.0 Senior notes 843.8 847.3 Total long-term debt $ 1,084.8 $ 986.3 Senior Revolving Line of Credit At September 30, 2017, $500 September 2020. $250 one September 30, 2017, $242.0 2.25% Seni or Notes Our senior notes consist of three separate issuances. The first second $250 2.40% March 2019 $250 3.85% March 2024, March 2014. March September September 2014. third $350 3.30% August 2022, August 2015. February August February 2016. three no 1933, February 2014. may 5, $250 2.40% March 2019 $350 3.30% August 2022. Our financing arrangements require us to maintain certain covenants and financial ratios. We were in compliance with all covenants and financial ratios at September 30, 2017.

Note 5 - Derivative Financial I

Note 5 - Derivative Financial Instruments	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Derivative Instruments and Hedging Activities Disclosure [Text Block]	5 . Derivative Financial Instruments We periodically utilize derivative instruments for hedging and non-trading purposes to manage exposure to changes in interest rates and to maintain an appropriate mix of fixed and variable-rate debt. At inception of a derivative contract, we document relationships between derivative instruments and hedged items, as well as our risk-management objective and strategy for undertaking various derivative transactions, and assess hedge effectiveness. If it is determined that a derivative is not We entered into receive fixed-rate and pay variable-rate interest rate swap agreements simultaneously with the issuance of our $250 2.40% March 2019 $350 3.30% August 2022, ting in an interest rate of 2.17% $250 2.40% 2.67% $350 3.30% September 30, 2017. September 30, 2016. 7,

Note 6 - Capital Stock

Note 6 - Capital Stock	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	6 . Capital Stock On October 2 2, 2015, $500 April 20, 2017, $500 September 30, 2017, $521 not three September 30, 2017. July 20, 2017, $0.23, August 18, 2017 August 7, 2017 October 19, 2017, $0.23 November 17, 2017 November 3, 2017

Note 7 - Fair Value Measurement

Note 7 - Fair Value Measurements	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Fair Value Disclosures [Text Block]	7 . Fair Value Measurements Assets and Liabilities Measured at Fair Value on a Recurring Basis Our a ssets and liabilities measured at fair value are based on valuation techniques which consider prices and other relevant information generated by market transactions involving identical or comparable assets and liabilities. These valuation methods are based on either quoted market prices (Level 1 2 September 30, 2017 ( Asset/(Liability) Balance Input Level Trading investments $ 15.9 1 Interest rate swap s $ (1.5 ) 2 Senior notes $ (595.3 ) 2 The fair value of trading investments has been measured using the market approach (Level 1 2 Trading investments are classified in other assets and the interest rate swaps are classified in other long-term liabilities in our Condensed Consolidated Balance Sheet. The senior notes are classified in long-term debt in our Condensed Consolidated Balance Sheet. Financial Instruments The carrying amount and estimated fair value at September 30, 2017, 2 not $489.5 $504.0 The carrying amounts of a ll other instruments at September 30, 2017,

Note 8 - Income Taxes

Note 8 - Income Taxes	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Income Tax Disclosure [Text Block]	8 . Income Taxes Our effective income tax rate was 35.9% three September 30, 2017, 38.0% three September 30, 2016. 33.9% first nine 2017, 38.0% 2016. first nine 2017 one $13.6 2012 2016 first 2017. $4.5 one $1.5 third 2017. At September 30, 2017, $35.6 $23.2 $5.8 September 30, 2017.

Note 9 - Legal Proceedings

Note 9 - Legal Proceedings	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	9 . Legal Proceedings We are a defendant in certain class-action lawsuits in which the plaintiffs are current and former California-based drivers who allege claims for unpaid wages, failure to provide meal and rest periods, and other items. During the first 2014, July 31, 2017, may In January 2017, May 1, 2016, no We are involved in certain other claims and pending litigation arising from the normal conduct of business. Based on present knowledge of the facts and, in certain cases, opinions of outside counsel, we believe the resolution of these claims and pending litigation will not

Note 10 - Acquisition

Note 10 - Acquisition	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Business Combination Disclosure [Text Block]	1 0 . Acquisition On July 20, 2017, Special Logistics Dedicated, LLC (SLD), and its affiliated entities, subject to customary closing conditions. The purchase price was $136.0 no The closing of the transaction was effective on July 31, 2017. $137.6 $3.0 $60 $56 July 31, 2017 ( Consideration $ 137.6 Accounts receivable 9.4 Other current assets 1.5 Property and equipment 14.9 Intangible s 60.2 Accounts payable (3.9 ) Accrued Liabilities (0.2 ) Goodwill $ 55.7 As of September 30, 2017,

Note 11 - Goodwill and Other In

Note 11 - Goodwill and Other Intangible Assets	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	1 1 . Goodwill a nd Other Intangible Assets As discussed in Note 10, third 2017, $56 $60 no September 30, 2017. September 30, 201 7 Weighted Average Amortization Period Definite-lived intangibles: Non-competition agreements $ 0.2 5 Customer relationships 60.0 8 Total definite-lived intangibles 60.2 Less accumulated amortization (1.5 ) Total iden tifiable intangible assets, net $ 58.7 At September 30, 2017, $1.5 no Intangible asset amortization expense was $1.5 three nine September 30, 2017. $7.5 may

Note 12 - Business Segments

Note 12 - Business Segments	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	1 2 . Business Segments We reported four three nine September 30, 2017 2016. 11, Segment Information 10 December 31, 2016. Assets (Excludes intercompany accounts) As of September 30, 2017 December 31, 201 6 JBI $ 2,077 $ 2,032 DCS 1,138 951 ICS 182 136 JBT 262 279 Other (includes corporate) 395 431 Total $ 4,054 $ 3,829 Operating Revenues Three Months Ende d September 30, Nine Months Ended September 30, 201 7 201 6 201 7 201 6 JBI $ 1,048 $ 970 $ 2,987 $ 2,798 DCS 438 394 1,242 1,135 ICS 269 233 701 620 JBT 93 97 281 291 Subtotal 1,848 1,694 5,211 4,844 Inter-segment eliminations (5 ) (3 ) (12 ) (10 ) Total $ 1,843 $ 1,691 $ 5,199 $ 4,834 Operating Income Three Months Ended September 30, Nine Months Ended September 30, 201 7 201 6 201 7 201 6 JBI $ 109.1 $ 116.9 $ 314.1 $ 325.6 DCS 42.9 52.5 136.2 147.7 ICS 7.3 8.5 11.5 30.2 JBT 5.7 5.1 16.2 23.1 Other (includes corporate) - - - 0.1 Total $ 165.0 $ 183.0 $ 478.0 $ 526.7 Depreciation and Amortization Expense Three Months Ended September 30, Nine Months Ended September 30, 201 7 201 6 201 7 201 6 JBI $ 40.4 $ 40.3 $ 121.2 $ 119.4 DCS 40.4 35.8 114.1 106.3 ICS 0.3 0.1 0.9 0.3 JBT 10.2 10.1 30.7 30.4 Other (includes corporate) 4.7 4.7 14.3 13.3 Total $ 96.0 $ 91.0 $ 281.2 $ 269.7

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation The accompanying unaudited interim Condensed Consolidated Financial S tatements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information. We believe such statements include all adjustments (consisting only of normal recurring adjustments) necessary for the fair presentation of our financial position, results of operations and cash flows at the dates and for the periods indicated. Pursuant to the requirements of the Securities and Exchange Commission (SEC) applicable to quarterly reports on Form 10 not not 10 December 31, 2016. not may December 31, 2017, August November
Goodwill and Intangible Assets, Policy [Policy Text Block]	Goodwill a nd Other Intangible Assets Goodwill represents the excess of cost over the fair value of net identifiable tangible and intangible assets acquired in a business combination. Goodwill and intangible assets with indefinite lives are not third 5 8
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements In May 2014, No. 2014 09, In August 2015, 2015 14, 2014 09, one December 15, 2017. December 15, 2016. To date, our implementation team has completed the process of contract review and documentation in accordance with the standard. We intend to adopt this new standard in the first 2018, not In February 2016, 2016 02, 2016 02 December 15, 2018, Accounting Prono uncement Adopted in 201 7 In March 2016, 2016 09, – Stock Compensation: Improvements to Employee Share-Based Payment Accounting, which amended and simplified certain aspects of accounting for share-based payment award transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The amendments were effective for interim and annual periods beginning after December 15, 2016. 2016 09 first 2017, third $4.5 third 2017. no

Note 3 - Share-based Compensa18

Note 3 - Share-based Compensation (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 201 7 201 6 201 7 201 6 Restricted share units: Pretax compensation expense $ 5,977 $ 5,390 $ 22,987 $ 22,298 Tax benefit 2,146 2,048 7,793 8,473 Restricted share unit expense, net of tax $ 3,831 $ 3,342 $ 15,194 $ 13,825 Performance share units: Pretax compensation expense $ 1,867 $ 1,868 $ 7,966 $ 7,875 Tax benefit 670 710 2,700 2,992 Performance share unit expense, net of tax $ 1,197 $ 1,158 $ 5,266 $ 4,883

Note 4 - Financing Arrangemen19

Note 4 - Financing Arrangements (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Debt [Table Text Block]	September 30, 201 7 December 31 , 2016 Senior r evolving line of credit $ 241.0 $ 139.0 Senior notes 843.8 847.3 Total long-term debt $ 1,084.8 $ 986.3

Note 7 - Fair Value Measureme20

Note 7 - Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	Asset/(Liability) Balance Input Level Trading investments $ 15.9 1 Interest rate swap s $ (1.5 ) 2 Senior notes $ (595.3 ) 2

Note 10 - Acquisition (Tables)

Note 10 - Acquisition (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	Consideration $ 137.6 Accounts receivable 9.4 Other current assets 1.5 Property and equipment 14.9 Intangible s 60.2 Accounts payable (3.9 ) Accrued Liabilities (0.2 ) Goodwill $ 55.7

Note 11 - Goodwill and Other 22

Note 11 - Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Finite-Lived Intangible Assets [Table Text Block]	September 30, 201 7 Weighted Average Amortization Period Definite-lived intangibles: Non-competition agreements $ 0.2 5 Customer relationships 60.0 8 Total definite-lived intangibles 60.2 Less accumulated amortization (1.5 ) Total iden tifiable intangible assets, net $ 58.7

Note 12 - Business Segments (Ta

Note 12 - Business Segments (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	Assets (Excludes intercompany accounts) As of September 30, 2017 December 31, 201 6 JBI $ 2,077 $ 2,032 DCS 1,138 951 ICS 182 136 JBT 262 279 Other (includes corporate) 395 431 Total $ 4,054 $ 3,829
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]	Operating Revenues Three Months Ende d September 30, Nine Months Ended September 30, 201 7 201 6 201 7 201 6 JBI $ 1,048 $ 970 $ 2,987 $ 2,798 DCS 438 394 1,242 1,135 ICS 269 233 701 620 JBT 93 97 281 291 Subtotal 1,848 1,694 5,211 4,844 Inter-segment eliminations (5 ) (3 ) (12 ) (10 ) Total $ 1,843 $ 1,691 $ 5,199 $ 4,834
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]	Operating Income Three Months Ended September 30, Nine Months Ended September 30, 201 7 201 6 201 7 201 6 JBI $ 109.1 $ 116.9 $ 314.1 $ 325.6 DCS 42.9 52.5 136.2 147.7 ICS 7.3 8.5 11.5 30.2 JBT 5.7 5.1 16.2 23.1 Other (includes corporate) - - - 0.1 Total $ 165.0 $ 183.0 $ 478.0 $ 526.7
Reconciliation of Other Significant Reconciling Items from Segments to Consolidated [Table Text Block]	Depreciation and Amortization Expense Three Months Ended September 30, Nine Months Ended September 30, 201 7 201 6 201 7 201 6 JBI $ 40.4 $ 40.3 $ 121.2 $ 119.4 DCS 40.4 35.8 114.1 106.3 ICS 0.3 0.1 0.9 0.3 JBT 10.2 10.1 30.7 30.4 Other (includes corporate) 4.7 4.7 14.3 13.3 Total $ 96.0 $ 91.0 $ 281.2 $ 269.7

Note 1 - General (Details Textu

Note 1 - General (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Tax Expense (Benefit)	$ 56,277	$ 67,067	$ 154,499	$ 192,778
Accounting Standards Update 2016-09 [Member]
Income Tax Expense (Benefit)	$ (4,500)
Minimum [Member]
Finite-Lived Intangible Asset, Useful Life			5 years
Maximum [Member]
Finite-Lived Intangible Asset, Useful Life			8 years

Note 2 - Earnings Per Share (De

Note 2 - Earnings Per Share (Details Textual) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	0.9	0.7	1.1	0.9

Note 3 - Share-based Compensa26

Note 3 - Share-based Compensation (Details Textual) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2017USD ($)shares	Sep. 30, 2017USD ($)shares
Restricted Stock Units (RSUs) [Member]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $	$ 55	$ 55
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition		3 years 255 days
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period | shares	364,538	379,161
Performance Shares [Member]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $	$ 11.4	$ 11.4
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition		2 years 109 days
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period | shares	155,867	155,867

Note 3 - Share-based Compensa27

Note 3 - Share-based Compensation - Components of Share-based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Restricted Stock Units (RSUs) [Member]
Pretax compensation expense	$ 5,977	$ 5,390	$ 22,987	$ 22,298
Tax benefit	2,146	2,048	7,793	8,473
Share unit expense, net of tax	3,831	3,342	15,194	13,825
Performance Shares [Member]
Pretax compensation expense	1,867	1,868	7,966	7,875
Tax benefit	670	710	2,700	2,992
Share unit expense, net of tax	$ 1,197	$ 1,158	$ 5,266	$ 4,883

Note 4 - Financing Arrangemen28

Note 4 - Financing Arrangements (Details Textual) $ in Millions	Sep. 30, 2017USD ($)
Senior Notes [Member] | Senior Notes, First Issuance [Member]
Unsecured Debt	$ 250
Debt Instrument, Interest Rate, Stated Percentage	2.40%
Senior Notes [Member] | Senior Notes, Second Issuance [Member]
Unsecured Debt	$ 250
Debt Instrument, Interest Rate, Stated Percentage	3.85%
Senior Notes [Member] | Senior Notes, Third Issuance [Member]
Unsecured Debt	$ 350
Debt Instrument, Interest Rate, Stated Percentage	3.30%
Senior Debt Obligations [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 500
Line of Credit Facility, Maximum Borrowing Capacity Increase	250
Senior Debt Obligations [Member] | Line of Credit [Member]
Long-term Line of Credit	$ 242
Debt, Weighted Average Interest Rate	2.25%

Note 4 - Financing Arrangemen29

Note 4 - Financing Arrangements - Outstanding Borrowings (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Long-term debt	$ 1,084,801	$ 986,278
Senior Debt Obligations [Member] | Line of Credit [Member]
Long-term Debt	241,000	139,000
Senior Debt Obligations [Member] | Senior Notes [Member]
Long-term Debt	$ 843,800	$ 847,300

Note 5 - Derivative Financial30

Note 5 - Derivative Financial Instruments (Details Textual) $ in Millions	Sep. 30, 2017USD ($)
Senior Notes, First Issuance [Member] | Fair Value Hedging [Member] | Interest Rate Swap [Member] | London Interbank Offered Rate (LIBOR) [Member]
Derivative, Variable Interest Rate	2.17%
Senior Notes, Third Issuance [Member] | Fair Value Hedging [Member] | Interest Rate Swap [Member] | London Interbank Offered Rate (LIBOR) [Member]
Derivative, Variable Interest Rate	2.67%
Senior Notes [Member] | Senior Notes, First Issuance [Member]
Unsecured Debt	$ 250
Debt Instrument, Interest Rate, Stated Percentage	2.40%
Senior Notes [Member] | Senior Notes, Third Issuance [Member]
Unsecured Debt	$ 350
Debt Instrument, Interest Rate, Stated Percentage	3.30%

Note 6 - Capital Stock (Details

Note 6 - Capital Stock (Details Textual) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	Oct. 19, 2017	Jul. 20, 2017	Apr. 20, 2017	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Oct. 22, 2015
Stock Repurchase Program, Authorized Amount								$ 500
Stock Repurchase Program, Additional Authorized Amount			$ 500
Stock Repurchase Program, Remaining Authorized Repurchase Amount				$ 521		$ 521
Treasury Stock, Shares, Acquired				0
Common Stock, Dividends, Per Share, Declared		$ 0.23		$ 0.23	$ 0.22	$ 0.69	$ 0.66
Dividends Payable, Date to be Paid		Aug. 18, 2017
Dividends Payable, Date of Record		Aug. 7, 2017
Subsequent Event [Member]
Common Stock, Dividends, Per Share, Declared	$ 0.23
Dividends Payable, Date to be Paid	Nov. 17, 2017
Dividends Payable, Date of Record	Nov. 3, 2017

Note 7 - Fair Value Measureme32

Note 7 - Fair Value Measurements (Details Textual) - Senior Notes [Member] - Fair Value, Measurements, Recurring [Member] $ in Millions	Sep. 30, 2017USD ($)
Long-term Debt	$ 489.5
Estimate of Fair Value Measurement [Member]
Long-term Debt, Fair Value	$ 504

Note 7 - Fair Value Measureme33

Note 7 - Fair Value Measurements - Assets and Liabilities Measured at Fair Value (Details) - Fair Value, Measurements, Recurring [Member] $ in Millions	Sep. 30, 2017USD ($)
Fair Value, Inputs, Level 1 [Member]
Trading investments	$ 15.9
Fair Value, Inputs, Level 2 [Member]
Interest rate swaps	(1.5)
Senior notes	$ (595.3)

Note 8 - Income Taxes (Details

Note 8 - Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Effective Income Tax Rate Reconciliation, Percent	35.90%	38.00%	33.90%	38.00%
Effective Income Tax Rate Reconciliation, Tax Credit, Research, Amount			$ 13,600
Income Tax Expense (Benefit)	$ 56,277	$ 67,067	154,499	$ 192,778
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount	1,500
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	23,200		23,200
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	5,800		5,800
Other Noncurrent Liabilities [Member]
Unrecognized Tax Benefits	35,600		$ 35,600
Accounting Standards Update 2016-09 [Member]
Income Tax Expense (Benefit)	$ (4,500)

Note 10 - Acquisition (Details

Note 10 - Acquisition (Details Textual) - USD ($) $ in Thousands	Jul. 31, 2017	Jul. 20, 2017	Sep. 30, 2017	Dec. 31, 2016
Goodwill			$ 55,737
Special Logistics Dedicated, LLC [Member]
Business Combination, Consideration Transferred		$ 136,000
Business Combination, Consideration Transferred, Liabilities Incurred		$ 0
Payments to Acquire Businesses, Gross	$ 137,600
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	60,200
Goodwill	55,700
Special Logistics Dedicated, LLC [Member] | General and Administrative Expense [Member]
Business Combination, Acquisition Related Costs	$ 3,000

Note 10 - Acquisition - Purchas

Note 10 - Acquisition - Purchase Price Allocation (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Jul. 31, 2017	Dec. 31, 2016
Goodwill	$ 55,737
Special Logistics Dedicated, LLC [Member]
Consideration		$ 137,600
Accounts receivable		9,400
Other current assets		1,500
Property and equipment		14,900
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles		60,200
Accounts payable		(3,900)
Accrued Liabilities		(200)
Goodwill		$ 55,700

Note 11 - Goodwill and Other 37

Note 11 - Goodwill and Other Intangible Assets (Details Textual) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2017USD ($)	Sep. 30, 2017USD ($)
Goodwill, Impairment Loss	$ 0
Finite-Lived Intangible Assets, Accumulated Amortization	1,500	$ 1,500
Acquired Finite-lived Intangible Asset, Residual Value	0	0
Amortization of Intangible Assets	1,500	1,500
Finite-Lived Intangible Assets, Amortization Expense, Annual Amount	7,500	$ 7,500
Goodwill, Period Increase (Decrease)	0
Special Logistics Dedicated, LLC [Member]
Goodwill, Acquired During Period	56,000
Finite-lived Intangible Assets Acquired	$ 60,000

Note 11 - Goodwill and Other 38

Note 11 - Goodwill and Other Intangible Assets - Identifiable Intangible Assets (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2017USD ($)
Definite-lived intangibles:
Finite-lived intangible assets, gross	$ 60,200
Less accumulated amortization	(1,500)
Total identifiable intangible assets, net	58,700
Noncompete Agreements [Member]
Definite-lived intangibles:
Finite-lived intangible assets, gross	$ 200
Weighted average amortization period (Year)	5 years
Customer Relationships [Member]
Definite-lived intangibles:
Finite-lived intangible assets, gross	$ 60,000
Weighted average amortization period (Year)	8 years

Note 12 - Business Segments (De

Note 12 - Business Segments (Details Textual)	3 Months Ended
	Sep. 30, 2017
Number of Reportable Segments	4

Note 12 - Business Segments - A

Note 12 - Business Segments - Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Assets	$ 4,053,923	$ 3,828,988
Operating Segments [Member] | JBI [Member]
Assets	2,077,000	2,032,000
Operating Segments [Member] | DCS [Member]
Assets	1,138,000	951,000
Operating Segments [Member] | ICS [Member]
Assets	182,000	136,000
Operating Segments [Member] | JBT [Member]
Assets	262,000	279,000
Operating Segments [Member] | Corporate and Other [Member]
Assets	$ 395,000	$ 431,000

Note 12 - Business Segments - O

Note 12 - Business Segments - Operating Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenues	$ 1,843,334	$ 1,690,659	$ 5,199,408	$ 4,834,397
Operating Segments [Member]
Revenues	1,848,000	1,694,000	5,211,000	4,844,000
Operating Segments [Member] | JBI [Member]
Revenues	1,048,000	970,000	2,987,000	2,798,000
Operating Segments [Member] | DCS [Member]
Revenues	438,000	394,000	1,242,000	1,135,000
Operating Segments [Member] | ICS [Member]
Revenues	269,000	233,000	701,000	620,000
Operating Segments [Member] | JBT [Member]
Revenues	93,000	97,000	281,000	291,000
Intersegment Eliminations [Member]
Revenues	$ (5,000)	$ (3,000)	$ (12,000)	$ (10,000)

Note 12 - Business Segments -42

Note 12 - Business Segments - Operating Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Operating income	$ 164,972	$ 182,977	$ 477,976	$ 526,659
JBI [Member] | Operating Segments [Member]
Operating income	109,100	116,900	314,100	325,600
DCS [Member] | Operating Segments [Member]
Operating income	42,900	52,500	136,200	147,700
ICS [Member] | Operating Segments [Member]
Operating income	7,300	8,500	11,500	30,200
JBT [Member] | Operating Segments [Member]
Operating income	5,700	5,100	16,200	23,100
Corporate and Other [Member] | Operating Segments [Member]
Operating income				$ 100

Note 12 - Business Segments - D

Note 12 - Business Segments - Depreciation and Amortization (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Depreciation and amortization	$ 95,959	$ 91,001	$ 281,198	$ 269,717
JBI [Member] | Operating Segments [Member]
Depreciation and amortization	40,400	40,300	121,200	119,400
DCS [Member] | Operating Segments [Member]
Depreciation and amortization	40,400	35,800	114,100	106,300
ICS [Member] | Operating Segments [Member]
Depreciation and amortization	300	100	900	300
JBT [Member] | Operating Segments [Member]
Depreciation and amortization	10,200	10,100	30,700	30,400
Corporate and Other [Member] | Operating Segments [Member]
Depreciation and amortization	$ 4,700	$ 4,700	$ 14,300	$ 13,300